Friends on a Budget: is it Possible?

Building Passive Income: 2 Main Factors 1. Living frugally so that you have more money to invest in things like dividend paying stocks. 2. Putting the time in to develop the passive income streams through building websites, books, Iherb, Amazon, etc. Going Out in South Korea Usually Involves Drinking Living in South Korea as an expat (I’m originally from Canada), one of the things that frustrates me is that “going out” usually involves hitting up…

Continue reading

Frugal Living: Clothes

Clothes are definitely one of those things that you can spend hundreds of dollars every month on, or almost nothing. I definitely fall into the latter category, as my students and good friends I’m sure could tell you. I rotate among the same 3 sweaters, 4 pairs of dress pants, 8 or so shirts, and 2 pairs of shoes at work. And for casual wear, it’s much the same, but even less. Maybe 2 pairs…

Continue reading

Frugal Living: House Size

I know a big part of frugal living is most definitely not having too large of a house.  It costs more to maintain/heat/cool/light/clean and it’s really quite easy to just fill your space with more stuff.  Here in Korea, space is at a premium because there are so many people crammed into a country with 70% mountains and the average house sizes are far, far smaller than what you’d see in Canada or the USA.…

Continue reading

Frugal Living: the dreaded “B” word

I’ve talked about in previous posts about the relationship between frugal living and passive income, cooking at home to save money and frugal hobbies.  But, today is the dreaded “B” word which=budget.  While I love the idea of a budget, as a general theory and believe it can be very important when trying to live a frugal lifestyle (as does Dave Ramsey), I don’t do it.  This probably seems quite strange for those who know…

Continue reading

Frugal Living: Cooking at Home

Rice and Beans, Beans and Rice As Dave Ramsey says, when you’re trying to get out of debt the only time you should see the inside of a restaurant is when you’re working there. And that those who are in debt should be eating rice and beans, beans and rice. Although I’m not in debt, I love cooking at home for the following reasons: Cooking at Home is Healthy! I love the fruits and vegetables.…

Continue reading

Frugal Hobbies: My Favorites

  Frugal Hobbies: Freedom Through Passive Income Style I talked on a previous post about how frugal living and building passive income streams are closely related to each other.  While there are plenty of ways to live frugally, especially with regard to transportation, housing and food (which I will talk about on later posts), hobbies are one of those things that you can either spend almost nothing or an enormous amount.  While I understand the…

Continue reading

Frugal Living and Passive Income

Frugal Living and Passive Income: Are they Related? On the surface, frugal living perhaps seems it doesn’t really relate that closely to building passive income streams, but in actuality, frugality is very necessary until you reach a certain level of passive income, at which point it doesn’t really matter how much money you spend, or don’t (to some degree….there are limits of course!). If you have $5000 a month coming in, with little to no…

Continue reading

Spend Less Than you Earn

Anyone can do it! No matter your income level, spending less than you earn is by far the most important thing. We’ve all heard those stories about people earning millions of dollars a year going bankrupt. Conversely, we all know about the guy next door working at some average job who ended up dying with millions in the bank. The difference is that one guy spent more than he earned while the other one didn’t.…

Continue reading

My story….the short-version

I’m a 34 year old Canadian, living the expat life in South Korea for the past 10 years working as a lecturer at Korean Universities.  During that time, I’ve been steadily building my passive income streams and learning more and more about things like social media, dividend stock investing, website design and marketing and a whole host of other things.  I currently average around $500/month in passive income and I’m hoping to eventually make a…

Continue reading