Happy Holidays!

Merry Christmas and Happy Holidays to everyone!   All the best in 2011 and I hope you all achieve your financial goals and a lifestyle you are thrilled with.

All the best!

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Busy Times

As some may have guessed, life has been quite busy for me lately.  I was forced to spend some time away on business for my daytime career which offered little time for blogging and my own company.  As a direct result of spending so many hours away from home I was able to accrue more income than usual.  With so many hours billed my accounts swelled slightly over their usual amounts.

The final results:

Web traffic on my sites dropped significantly due to lack of new content

Bank accounts increased due to number of billable hours spent on work

Bills/utility debts dropped due to less hours spent at home.

All the additional income received was deposited directly into my emergency fund which swelled beyond my targets for the entire year.  RRSP contributions for the last month almost doubled over projected.  I fully intend on diverting some of the funds into debt repayment but for now (since it was un-budgeted) I will sit on the funds untill a proper plan with maximum yield is developed.

Overall I was unable to accomplish my usual daily goals with my own business and online work, but the net result was a tremendous positive in the cash flow department.  Perhaps I will need to re-evaluate my targets and revisit plans for max results.

Cheers

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Joined the Yakezie Challenge

Just joined the "Creating Powerful Friends: Samurai’s Yakezie Challenge".  Through selfless promotion of other Bloggers we will grow a strong network uniting many posters together.

I am truly excited to be part of the movement.

Check it out at the Financial Samurai.

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Zero Dollar Day

When was the last day you spent no money whatsoever? 

A great technique for saving cash- simply don't spend it.  I know this sounds crazy but it works.  I have used this technique with great success to exceed my savings targets within my already tight budget.  Try it for yourself.


Schedule your first Zero Dollar Day sometime during the next seven days.  Prepare by scheduling it for a day which you have no planned expenses.  Complete any required spending prior to that day (filling the vehicle with fuel, groceries etc).  Do not "stock up on spending" though :)


Now go the entire day without spending a dime.  It's not as easy as it sounds when that coffee or candy temptation presents.  Once you have completed the day successfully (if you slip simply schedule another) plan your next Zero Dollar Day within the next 4 days.  Repeat this process as often as you can. 


It becomes addictive.


Once you have forced yourself to not spend money, the realization that you can live without certain things will present itself.  From here you can begin trimming the budget even further.  End result- wealth you didn't even consider before.


Did you really need that Timmy's coffee after all?



Cheers
WBC

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