Category Archives: Finance basics

Top tips for cutting expenses and saving more

money saving tipsIt is essential to control spending if you intend to save more and accumulate wealth. Lifestyle inflation is the enemy of a good savings plan and detrimental to any plans for attaining Financial Independence. A simple definition of lifestyle inflation is when a person expands their expenses to match increases in income. I will use myself as an example of how lifestyle inflation was one of my biggest financial mistakes. Continue reading

The Snowball – How compound interest can make you rich

Compound interest snowball“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” – Albert Einstein.

This is one of my favourite quotes of all time.  Gaining Financial Independence requires a source of passive income to cover your basic expenses. Passive income can be achieved through a variety of activities such as starting a business, real estate or stock market investing. Here are some useful tips.

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