Tag Archives: financial security

How to Live Off the Grid and Remain Financially Comfortable

As technology and automation becomes more and more integrated into human society, many people are taking advantage of the associated benefits. However, not everyone is so pleased. As a matter of fact, certain individuals are choosing to adopt minimalist lifestyles and habits. Some people even opt to live off the grid, soak up nature, and take a detox from technology.

While living off the grid has its particular upsides for interested individuals, it is not a decision which can be made at the drop of a dime. Nine times out of ten, such a drastic lifestyle alteration demands a concrete plan; financial preparation is absolutely paramount. Thankfully, there are certain steps which can be taken so that one’s time off the grid is as comfortable and stress-free as possible.

Basic Utilities

Many people who choose to live off the grid often forget that this lifestyle does not translate to living free-of-charge. Even if one decides to forgo the use of electricity, they will still require access to utilities such as water and heat. Each and every living individual requires water; water is needed to drink, wash clothes, bathe/shower, etc. Therefore, anyone who considers going off the grid should invest in a well and septic. Both of the aforementioned items will amount to roughly $12,000 according to Quote Brands.

Next comes heat. Heat is a paramount utility which one will have to pay a pretty penny for if they are serious about off the grid living. This particular utility is generally used for cooking, heating water, etc. Heat is also critical for staying warm and not catching pnemounia during the winter time. Therefore, both propane and wood are necessary items to ensure that the individual has the proper resources to remain warm. Propanes usually amount to $4,400 while wood is slightly cheaper, coming to about $4,000.

Regarding utilities alone, living off the grid is not cheap. It requires a considerable degree of planning, investing, and preparing. This type of lifestyle cannot usually occur at the drop of a dime. At the end of the day, there is no escaping the reality that everything in life comes with a cost, in one form or another.

Other Essentials

While utilities are important resources (even for those who aspire to live off the grid), there are other necessary essentials, as affirmed by Money Crashers. Access to food, waste disposal, and personal security are things which people usually take for granted. Those who are interested in living off the grid would do well to learn how to naturally grow fruits and vegetables. Moreover, hunting, fishing, or stocking up on a considerable amount of canned goods are also options regarding food.

Furthermore, the ability to cleanly and effectively dispose of waste is something which most individuals don’t really think of. However, when one lives off the grid, they truly must fend for themselves in virtually every sense. Thankfully, there are a series of options for various forms of waste disposal. Latrines, outdoor toilets, composting, and even burning with fire can serve as appropriate means of doing away with waste.

Last, but certainly not least, comes personal security. Living off the grid is great, but regardless of where one goes, there are still dangers in the world. Having the proper precautions in place against criminals, predatory animals, and even dangerous insects is certainly something that one should have set up for themselves prior to the commencement of living off the grid.

By Gabrielle Seunagal

The Importance of Investing

In 2018, one of the most important steps that one can take towards financial success is investing. Not only does investing put one’s money to work, but it also allows the individual to grow his or her own money. Of course, poor investments usually engender lost funds, whereas wise, strategic investments grow one’s income. Some of the wealthiest people in the world invest in one form or another.

Knowing Where to Get Started

As noted by The Balance, many people who are new to the world of investing begin by placing capital in the stock market. There are many upsides to this course of action. First and foremost comes options and flexibility. There are many companies which sell shares of stock for various prices. Investors can purchase as few or as many shares as they please. Some individuals begin by purchasing smaller amounts of stock and gradually invest more capital once they establish levels of comfort and familiarity with the stock market. Of course, each person has their own investment strategy which hopefully works well for them.

Individuals can also invest in real estate, privately held businesses, publicly traded businesses, and more.

Benefits of Investing

F&C Investments notes the plethora of merits associated with making wise investments. First and foremost comes the probability of seeing a return on one’s capital. A person who wisely invests $10,000 could possibly earn $100,000 or more in a matter of years. However, risk is an inherent factor that comes along with investing in any entity, be it real estate, mutual funds, or stocks and bonds. While some people are able to turn a profit on their investments, there are others who lose every penny. Although there are no guarantees, the potential for growth is a considerable upside that all investors should be aware of and aspire to achieve.

Another benefit of investing is the creation of a new passive income stream. Passive income is economically defined as “earnings derived from a rental property, limited partnership or other enterprise in which a person is not actively involved.” The majority of people have at least one stream of non-passive income, however, non-passive income, alone, is simply not enough. Passive income is especially paramount for individuals who aspire to boost their net worth or simply increase their wealth and earnings. The majority of well-off individuals have at least one avenue of passive income.

A Final Word

While each individual can benefit from strategic and fruitful investments, they should first ensure that they are in a position to handle the risks that come along with investing. For instance, capital needed for important expenses such as rent, childcare, utilities, groceries, and bills should not be invested. Those who wish to invest but currently lack the funds to do so should gradually prepare themselves by putting a certain amount of money aside. As they work to acquire their desired amount of funds, the person at hand can take time to learn which entities they wish to invest in.

Authored by Gabrielle R. Seunagal

Learn What Being Happier Can Mean To Your Future And Life

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How can you increase your overall life satisfaction? Simply put, it isn’t through earning more money, though so many believe this to be the solution. You’ve heard all of the stories. Money does not buy happiness, and this really is true, more than most people realize. However, faceless money can really make you feel satisfied, but not too many know what this is–so what does it imply? If you have money to donate to charities, then do it! There is nothing more fulfilling than knowing you make a difference in someone else’s life. Remember, this is if you do have the excess money. Now, what else can you do to help maintain a healthy, happy, wholesome life and feel complete? That is what we are going to talk about here.

Finding Ways To Be Happier and Healthier In Life

As mentioned, happiness is what makes life complete, and when you’re happy everything falls into place. You minimize money worries and you stop worrying about having enough. You’ll find that when you let all of the negativity go you can appreciate what you have and how you can maintain it. If you can remember that it isn’t about what you “don’t have” but about what you “do have” then you’ll achieve a higher level of life satisfaction Below you’ll find some tips we’ve listed which will help you discover what it is that really makes you happy. Surprisingly, money is the least of these things.

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  1. Imagine what it would be like if you spent money on experiences in life, versus just spending money on materialistic items. Memories are everything to life, and one beautiful experience is worth a lifetime of happiness!
  2. Don’t you think you’re health is important? Don’t you think you’re worth investing in? It is amazing how you’ll feel when you begin to pay more attention to yourself and your health needs. Health and happiness do come hand and hand! Take better care of yourself and stay on top of what your body is trying to tell you
  3. Why not tidy up your life and simplify things? The simpler the better, then the less you’ll have to worry about! Itemize expenses into categories, the same as bills. Separate the wants from the necessities. This will help you stay focused and keep your mind on those things you find much more fulfilling!
  4. How about scheduling a date to go over your money issues, including bills and spending habits. When you establish a plan of action like this, you don’t need to sit day after day and worry about all the money woes. If you have a partner you both can go over your bills and begin financial planning together. 
  5. Finally make goals and focus on the positive, not the negative. Negative thoughts can suck the energy right out of you, but positivism can blossom new ideas and improve your potential for acquiring financial gains.

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If you do follow just a few of these tips you’ll see how much better you’ll feel. Too many Canadians live day to day, boggled down by money worry and fear of the future when they don’t have to. Establish the proper goals through financial planning and you’ll be taking the right steps to a healthier, happier more wholesome life!

 

7 Simple Steps To Achieve Financial Security Before 30

Saving before 30

Everyone desires to be financially secure, especially when planning for that retirement.  However, for young Canadians, this is often the last thing they are thinking about–at least before they turn 30! This mind-set really needs to change.  Every Canadian needs to work towards financial security for their future. This alone alleviates a great deal of the anxiety and stress that comes with being an adult.  It’s a fact that financial insecurity leads to a great deal of health problems for many, but if you manage your money wisely and plan, you’ll live happier and longer!

If you’re worried you’ll have to sacrifice your short-term goals to realize your long-term ones, you’re wrong. You don’t have to do so. The following tips and advice being shared with you now will guarantee you can achieve financial security without having to really deprive yourself of anything.  It’s all about financial budgeting and being accountable of your own spending habits.

The following 7 tips will point young Canadians in the right direction if their goal is to have sound, dependable financial security before the age of 30. Remember, you don’t have to sacrifice entertainment and other extracurricular activities if you budget right!

The Top 7 Tips To Reach Financial Security Before 30

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Tip 1:  Understand your most important asset

Your most important asset, when it comes down to finances and financial security is yourself!  Your career, your experiences, and any opportunities you’ve had, or will have play a role in establishing you as an adult and your financial future. It is your career and career opportunities which help to build your financial independence, so making the right choices is critical to the future.

Tip 2:  If you set short-term goals, the long-term will fall into place

It’s a fact! Planning too far into the future can leave you feeling defeated and let down, but planning short-term, realistic goals can get you on the right track and keep you there! Short-term goals should be kept realistic so they can be achievable.

Tip 3:  Develop an action plan and then worry about saving

Become a planner before you start trying to save and meet financial goals. If you plan right and stay goal oriented, you can meet the majority of financial goals you establish. For instance, setting a timetable to pay on specific bills like: credit card bills, school loans–and more, will help you prepare for a better road to financial independence.

Tip 4:  Stick to frugal spending habits

Teach yourself the value of money early, while in college even. If you can stick to those frugal habits you were forced to while in graduate school you’ll make better decisions for your financial future!

Tip 5:  Don’t live beyond your means

Don’t be like so many others and worry about making an impression in the crowd.  Living beyond your means open up the door to more debt, something you clearly want to avoid. When you do have excess funds, don’t fall into the trap of using this as an excuse to spend.  Saving your hard earned money is far more important than a new gadget!

Tip 6:  You have to become financially literate

This is a critical one!  Taking the time to research and educate yourself on saving and investing will ensure you stay on top of your financial future. Financial education will help you achieve all your financial endeavors and assist you in making the right investment decisions throughout your life.

Tip 7:  Always take advantage of the financial freebies!

You would be wrong to not take advantage of what is free!  From free seminars to free monthly savings accounts; freebies are meant to help you! Take advantage of the new Canadian tax laws and benefit funds without feeling embarrassed!  Many of these will allow you tax savings and help you get money back at the end of the year.

Savings for life