Money Archives - Page 44 of 54 - The Outlier Model

Why savings matter in January

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CF / January 16th, 2013 / 23 Comments

One of the things I intend on focusing on this year is trimming out the fatty bits of my finances. Brian and I live pretty leanly already, but there’s always room for improvement! I want to make a big push towards financial independence this year and optimizing our finances is the first step. January is a great time to rack up some savings because it’s the start of a new year! Who...

Posted in: Money Tagged with: benefits of a savings account, cutting back bills, cutting banking fees, cutting cell phone bill, cutting TV bill, financial independence, opening a savings account, reduce banking fees, saving money, setting up a savings account

Friday Quickie: Average household income by age

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CF / January 11th, 2013 / 22 Comments

I meant to share this a while ago, but hey, better late than never. In finance, it’s common to hear statistics like “average household income is X” or “the average salary in America is Y” being used. But the average is often not very useful, and here’s (one of) the reasons why: Photo Credit: NPR This is a bar graph of average household incomes in America, grouped...

Posted in: Money Tagged with: age influence on income, average household income, average household income by age, average income, NPR article on average income by age

Financial Goals: 2013

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CF / January 7th, 2013 / 35 Comments

The start of a new year is a natural point in time to embark on new goals and to review the achievements of the past year. Last week, Brian and I talked a bit about our net worth. We’re pretty happy with the numbers on paper, but how did we do in terms of achieving the goals we set back in early 2012? Photo Credit: Images_of_Money via flickr CF’s Goals Emergency Fund: $2000...

Posted in: Money Tagged with: Emergency fund, financial goals, goal setting, investments, lump sum mortgage payment, net worth, personal finance, personal savings rate, reduce your mortgage, RRSP, saving money, TFSA contribution

Net Worth Update: January 2013

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CF / January 2nd, 2013 / 37 Comments

The last few months have featured a lot of changes for us. And since Brian and I have added another condo to the mix, I’ve gotten a new job (again), and my student loans have come up for repayment (again), it seemed like a good time to do a net worth check in. I usually do this for myself every other month, but we don’t usually post about it more than a few times a year. I mean, do you guys...

Posted in: Money Tagged with: calculating net worth, financial goals, financial health, how to determine your net worth, making money, net worth, net worth calculation, year end financial recap