Are you currently in debt? Do you struggle to pay off debt or you’re having a difficult time increasing your savings? Don’t fret, you’re not alone. According to an Equifax report, the average person owed about $22,837 in consumer debt at the end of 2017. At the current level of debt, it could Read More …
Category: Debt
Blog topics that involve debt. I don’t hate debt nor fear it. I just try to use debt as a tool to
help increase my wealth. Debts that help you make money (e.g. investment loans) are good debts and debts that cost you money (credit card debts) are bad debts. Personally, my goal is to have a reasonable amount of good debts and zero bad debts.
How I Paid Off $35K In Credit Card Debt In An Afternoon
A couple of weeks ago, I was assisting a family member of mine, let’s call her Kelly, to refinance her mortgage. Since my income is relatively stable and above average, the bank requested that I become the guarantor in order for Kelly to refinance her mortgage. With the stricter mortgage rule and higher qualifying Read More …
Are Your Finances Better Than The Average Canadian’s Finance?
A couple of weeks ago, I had a guys’ day out with my buddies. We haven’t been able to hang out as much as we’d like in recent years. Most of us were busy with a young family. It was just the four of us. No wives and no kids. It was like the good Read More …
The #1 Financial Goals That You Should Achieve
Happy birthday to you. Happy birthday to you. Happy birthday dear ISaved5K blog. Happy birthday to you. It’s hard to imagine that this blog just turned 1 year old recently. It was at this time about 1 year ago that I decided to start a Canadian personal finance blog to share my financial Read More …
The Best Way To Get Out Of Debt
I am in debt. A lot of debts. I have more than $700,000+ in outstanding non-mortgage debts. However, I am not any poorer because of this mountain of debts. It’s actually helping me make more money instead of being a burden that weighs down on my finances and eating away my income every month. Read More …
I Don’t Want To Be Mortgage Free
The headline of this post is correct. It’s not a typo and you didn’t misread it. I don’t want to be mortgage free (yet). Am I obsessed with debts? Somewhat. Let’s just say that I don’t hate debt nor do I fear it. I am just using debt responsibly as a wealth building tool. Read More …
Would You Borrow Money To Invest?
Recently, I was working with someone close to me to analyze an investment opportunity. Let’s call this person Joe so that I don’t reveal his identity just in case he reads this post and doesn’t like what I have shared. Not everyone is open to sharing financial information or personal stories like me and Read More …
How I Saved An Extra $200,000 By Increasing My Debt
After reading the title of this post, you must be wondering, “What’s going on? Did Leo’s blog get hacked or what was he smoking before he wrote this post?” No, my blog did not get hacked nor was I smoking anything (I am not a smoker). What I wanted to say is that I Read More …