Goals for 2008
Jan 08, 2008     post this at del.icio.uspost this at Diggpost this at Technoratipost this at Furlpost this at Yahoo! my web.

Now that 2007 is behind us it is time to take five minutes and reflect on the past year. First, I dug out my post 2007 Personal Goals and wanted to see how I did. Which at the time was only my second post on this blog, so I am now officially one year old. Yeah.

So how did I do:

2007 Personal Goals

  • Increase my net worth by $20,000
  • Decrease my student loan debt by $10,000
  • Eliminate all of my credit card debt (roughly $10,000)
  • Increase my online revenue streams by 15%
  • Increase my RRSP account by $5,000
  • Invest in various stocks
  • Increase revenues from my freelancing opportunities
  • Budget my finances for each month

So overall I feel 2007 was a success, I also had some personal milestones, such as the birth of my beautiful daughter and coaching my U16 girls team into the national competition in my first season.

So for 2008 my goals are simple:

Financially

  • Reduce my student loan debt by $10,000
  • Increase my freelancing opportunities
  • Increase my RRSP account by $7,500
  • Increase my personal savings by $4000

Personally

  • Get to the gym 4-6 times a week
  • Improve on my diet
  • Take my family on a huge camping and outdoor expedition
  • Spend more time with family and friends

On I side note I would also like to build a garden shed this summer, I could easily pay someone to do this, but I get a feeling of accomplishment when I complete DIY projects around the house.

-Thomas Craig

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Money Saving Truths Explained.
May 30, 2007     post this at del.icio.uspost this at Diggpost this at Technoratipost this at Furlpost this at Yahoo! my web.

Money saving can be a daunting task for many of us and can lead to stress and financial headaches beyond the norm. I found the following article by Kristine Geimure, which outlines the truths to building a savings fund.

Becoming financially secure is a goal of many of us, yet most of us still live from pay to pay and just scrape by. The basic rules of becoming financially free are really quite simple and can be learnt by anyone, but it’s the implementation of these rules week after week, year after year that is the challenging part. Below is a list of simple truths to set you up for financial freedom.

Knowledge and Information
If you are going to be successful in business or investing you have to acquire as much knowledge as you can. That doesn’t mean you have to spend six hours everyday watching the stockmarket or going to university to get a business degree, it simply means you should have a good general knowledge of the basics which will give you more intelligent options to choose from. As you learn to earn you will also learn to avoid making poor decisions that cost you money.

Patience and Time
With time anyone can get rich and the earlier you start putting money aside the better. Most financial advisors rave about the magic of compounding interest because it is so effective. Compound Interest is where your earnings from investments are reinvested. So when you are first getting started your reinvested earnings will be quite small, but over time they begin to create a snowball effect. The secret is to get started and be patient!

Persistence and Discipline
Despite what many “get rich quick” peddlers would like you to believe, it’s generally not easy to get rich and it will not happen overnight, unless you’re extremely lucky and win the lottery. Getting rich is about taking many small disciplined steps over a long period of time.

Goals and Flexibility
Having a set of financial goals will give you strength and give you a clear target to head towards when things get tough. Get clear about where you are now and where you want to be in 12 months, 5 years, 10, and even 20 years. Keep reviewing your goals regularly and be prepared to be flexible and change things if circumstances change. A good financial advisor that has been recommended by a friend can help with some of the financial details of this step.

It’s important to get the basic money making steps right in the beginning. Once you have a solid foundation built for creating wealth and are putting away a percentage of your income each week, set about learning a little more about finance and investing everyday. Keep up to date with the business news and learn about different investment products and services. But most importantly, keep moving a little bit closer towards your goal each week and do not ever give up!

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March Budget Review gets tossed ...
Mar 29, 2007     post this at del.icio.uspost this at Diggpost this at Technoratipost this at Furlpost this at Yahoo! my web.

Well, my monthly budgeted took a turn for the worst in March as I managed to over spend in probably every category. The only bonus was my tax return and some extra revenue that came my way. The extra revenue was mostly due to a few new clients signing up for web hosting. This extra income was immediately put to good use on reducing one of my credit card debts, which has fallen below the 2 grand mark.

I should be able to eliminate my visa payment, which is the one that is below $2000, in a month and half. I will be receiving some income from a client re-design in the next few weeks and will also be receiving a lump-sum payment for refereeing indoor soccer throughout the winter. So once my visa is gone I will be down to one credit card my mastercard which has a APR of 1.9% till november, so again I will tackle this one as quickly as possible.

Anyways, my plan is to smarten up for April and get my budgeting back on track.

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Make Money Online ...
Mar 27, 2007     post this at del.icio.uspost this at Diggpost this at Technoratipost this at Furlpost this at Yahoo! my web.

Now that I have gotten your attention; with my not so catchy title. This is quite simply a review of a site that has probably got a lot of people thinking “Wow, I can make six figures a year doing this blog thing” or “Man, I wish I could make an extra couple of thousand a month writing about my thoughts”.

Straight to the point John Chow will definitely steer you in the right direction or provide you with invaluable information on numerous topics from making money online to fine dining, his site http://www.johnchow.com is loaded with useful and practical information, which if consumed and used in the proper manner, may just land your site with a few extra bucks each month.

Now, if you have the willingness to learn and the patience to watch your visions grow then I would definitely recommend John as a mentor for making money online.

If you want to know how to make money online, then go check out the blog John Chow dot Com. It’s a great read and he’ll link to you if you review his blog.

Thanks John for all the valuable information and continuous flow of knowledge.

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February 2007 Budget Review
Mar 07, 2007     post this at del.icio.uspost this at Diggpost this at Technoratipost this at Furlpost this at Yahoo! my web.

My budget for February was a little tighter then usual as I had to make a couple of off-island trips, which means extra gas (4 extra fill-ups then usual) as well as the nice bridge fee for leaving the island @ $42 bucks a pop. I also manage to pick-up my first baby item (a play pen), which was $179.99 and I manage to get it on sale for $132 taxes in.

Here are some of the January stats:

  • Projected Income: $5020.00
  • Actual Income: $5969.28

  • Project Balance: $126.36
  • Actual Balance: $(60.01)

Some areas that I over spent in from the previous month:

  • Fuel
  • Groceries
  • Debt Repayment
  • Dining Out

Although I did have some extra income this month, I didn’t really do anything different. All the extra income went directly on paying down some debt (credit cards). I will continue to proceed with the plan of any extra income to be used on reducing debt.

Areas that I will focus on reducing next month will continue to be: electricity, groceries, dining out (no more nights of heavy drinking), and fuel.

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