One of the easiest ways to save money and quickly get to FI is to use a good credit card and make as many of your purchases on this card. By putting $15,000 to $25,000 of your regular family expenses (that you would make anyways) on a credit card with a generous rewards program you can benefit from up to $500 in savings per year. For this reason I regularly review all the Canadian credit cards and banking options to make sure we are always using the most competitive options. Continue reading “Our Canadian Credit Cards and Banking Choices”
One of the biggest parts of our FI plan was to sell our primary residence and downsizing to a smaller house in a much smaller town with much lower living expenses. At the beginning of 2017 we lived in a 4 bedroom, 2.5 bath, 2300 sq. feet house in Ottawa. Continue reading “Downsizing, making money… and doing it fast”
We sold our house earlier than our actual financial independence date. This was because we wanted to give ourselves plenty of time in order to get the best value from the sale. So the plan was that when we sold, we would rent a temporary home until we are ready to pull the trigger and quit our jobs. Continue reading “Our New Temporary Home”
Part 1 of our master plan (as most people seeking FI) is to bring down our annual spending. As pointed out by many bloggers, you can retire on the 4% rule when you have 25x your annual spending. Continue reading “Annual Spending: How close are we to our goal?”
The new Canada Child Benefit introduced a couple years ago is a pretty generous social program that we are lucky to have in Canada. You can almost consider it being an extra salary for being parents.
As per the government of Canada’s website, the Canada Child Benefit (CCB) is a “tax-free monthly payment made to eligible families to help them with the cost of raising children under 18 years of age”.