January 2019 – Financial Update Time!

This months financial update there were some big changes.

While this update is a month late, there was still a bunch of progress in January, especially when it comes to progress towards having an emergency fund.

So far separating business and personal expenses via the corporation has gone extremely well and has helped me keep better track of my expenses. I am moving into a new house during the month of February, so my expenses and everything will likely change a lot more when this happens. Ultimately, however, I think it will be a lot better for me as it will help me regain my lost time and work more on the passion projects that I care about.


The February financial update should be out later this week. Until then I’ll happily share the glow January gave me!


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Financial Fails Friday: Week 1!

All over the FI space, I have noticed a trend of “Frugal Friday” posts where you highlight some especially frugal decisions that you made throughout the week that helps keep you on track towards your goal of financial independence.

I think this is a great idea, as it encourages people to stick to their goals, and gives creative ways they may not have thought of to save money.

But I wanted to develop a different take on this.

I find that no matter how much I try to save, and how much I plan … something happens.

These are the things I’m hoping to highlight every week.

Those speed bumps that we all meet that make it hard to keep on track and keep focused, but they happen to all of us.

Of course, I would love to hear any of the fails you’ve had in your life over the past week on your journey in the comments below!


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Self-Employed Taxes … Now What? (Calculator)

We’ve all heard the phrase.┬áThere are two things certain in life, death and taxes


Death we can do nothing about. Eventually, it will come for us all, and we just have to accept that. Taxes, however, we can minimize. As people, especially people within the FI community we often pride ourselves on our ability to minimize our expenses and increase our savings rate.


For this, we often make budgets. We take into account all of our income and compare it to our expenses. We then try to eliminate or minimize our biggest expenses, which is where many of our flaws begin.


For most people, they would list their three biggest expenses as shelter, transportation, and food. Even StatsCan posts these as Canadians top three spending categories. However, in many of our cases, particularly Canadians, our largest expense is actually one thing: Taxes.


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