Starting something new: what are you giving up?

    A lot of people that I meet think it’s amazing that I have 5 books up on Amazon (see them all here) which I wrote all within the last 1.5 years. Then, many of them will say something like: “I want to write a book too!” “I have this idea for a website.” “I want to start a business when I go home.” “I want to build some passive income streams too.” My…

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Bad into Good- A Story from Work

Turning Bad into Good-Work Style What Happened I’ve been working at South Korean universities for the past decade or so and during that time, I’ve always taught extra classes for more money. My contract currently is only for 9 teaching hours/week, so I’ve usually added on another 10-15 to substantially raise my pay. However, this past semester all the extra work seemed to dry up and I was left with almost nothing in terms of…

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All-In Digital Entrepreneur when I Go Back to Canada: Crazy?

all-in

Canada: What to Do I’ve talked about moving to Canada in previous blog posts, and it’s now less than a year away (March 2016). I’ve started preparing in numerous ways such as gathering information about how to get the cats and my stuff back to Canada and also giving away/selling lots of my stuff that I wasn’t really using that much. How Can I Make Money in the Great White North? But, the really big…

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Money Diet Challenge: Top 5 Tips

And so it Begins The money diet is starting tomorrow and although it’s been a few years since I’ve gone on a diet, I’m super excited for this challenge. In years gone by, I’ve totally kicked butt at money diet challenges and don’t think I’ve ever lost one. Here are my secrets and even though they’re secrets I’m going to share with you because I want to help my readers be as awesome as they…

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The Wealthy English Teacher: Samples from the Book

My second book, The Wealthy English Teacher is hot off the press and now available on Amazon in both digital and print formats. Initial sales have been promising with more than 20 copies sold in just a couple of days with no paid advertising. I’m hoping that people will really like it and tell their friends-there really is no other financial book (or even resource on the Internet) that is specifically for ESL teachers. If…

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Money Diet Challenge

One of my Biggest Fears I’ll be leaving my home for the last 10 years, Korea and going to Canada in about a year from now. In preparation for this move, I’ve been officially on money-spending lock-down and am all about the frugal living, even more than I was previously. There is truly nothing scarier to me than arriving in Canada with basically nothing more than what I can fit in 2 suitcases, nowhere to…

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Respect the $10- It’s how you become rich

Thanks Mr. Money Mustache I was just over at Mr Money Mustache and was reading this article, “A Millionaire is Made 10 Bucks at a Time” and felt inspired to post. The Quick Summary Basically, the article talked about how we seem to have lost respect for the $10 bill and that we don’t actually think of it as that much money. We just spend it without even thinking about it, but it can actually…

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What about Investing in Gold and Silver?

My Old Coworker’s Obsession I remember a few years ago when I worked with a couple guys who were obsessed with buying gold and silver. They were totally and completely convinced that stockpiling these two assets, physically was the best way to put their hard-earned dollars to work. I remember thinking that this seemed like a complicated endeavor because you had to go buy the product and hope you were not getting ripped off, then you…

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2014 Passive Income Report

This past year, I earned $4375 in passive income, for an average of $365/month. The bulk of this was in dividend payouts (over $3000) and Hubpages (formerly Squidoo) with just over a $1000. I am going to write 2 more ebooks within the next year (hopefully the next few weeks actually!) so that revenue stream will increase significantly for 2015. And although Hubpages sometimes feels like a bit of a tough slog, I earned $1000…

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Goals for the New Year

Here in Canada, it’s coming up to New Year’s Eve and I’ve been reflecting mostly on the year that will be ahead of me. Similarly to how I will usually look at a company’s forward P/E ratio, instead of the past when considering which stocks to buy, I like to focus on what is ahead of me instead of what was behind. I’ve decided to move to Canada (99% certain!) at the end of my…

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5 Truths for Wealth-Builders

I was just cruising around on Yahoo Finance and I ran across this article which sums up pretty nicely what I think about personal finance. 5 Power Truths for Wealth Builders by David Ning. I particularly liked the ones about considering the downside and a little effort can lower your expenses. With regards to considering the downside, he mentions stocks and how many people don’t consider that that hot stock which seems to be going…

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Am I Worried About Losing All My Money in a Stock Market Crash?

I was talking with a friend yesterday and she was asking how much money I can gain or lose in a single day and if I was worried about a stock market crash, or not. Short Answer: I can gain or lose $3000 or $4000 or even more in a single day and I’m not worried about it. Here’s why: the gains or losses in my portfolio are not actually real gains or losses because…

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Know What You’re Good At, and What You’re Not

The other day while wasting time perusing Facebook, I ran across this article: 35 things to do for your career by the time you’re 35 It has plenty of good stuff but I particularly liked #2: Know your Superpower and #3: Know Your Weakness. I’ve been thinking a lot about that lately as I consider options for what to do with my life post-Korea (it’s not 100% certain that it will involve teaching, but it’s…

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How much money do you need to be happy?

I was listening to a recent podcast from The Best of the Left (Capitalism Will Not Set You Free) and they were talking about how the law of diminishing returns can apply to your salary and happiness level. Up to around 75 000 US, people’s happiness increases as their salary does. But, after that level, it kind of has no effect and there are even some examples of happiness decreasing such as when someone wins…

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The “I have the best students” trap

In the world of English teaching in Korea, there is a whole hierarchy of possible jobs, starting from the worst of the worst private institute (Hagwon) to a top job at a university or international school. Anyone with a bit of ambition and some networking skills can move up in the world onto bigger and better things each year beyond their first year. And why not? You’ll have some combination of: higher pay, more vacation,…

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Teaching ESL as a Career

When I peruse the personal finance, early retirement and digital nomad blogs around the Blogosphere, it seems like a lot of people were working at “serious” jobs making “serious” money by being a lawyer, working their way up the corporate ladder in some other field or selling things and making lots of money doing it successfully. Then, they left these jobs after hating the 9-5 or more often, the 9-9 kind of life they were…

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Frugal Living: the Shopping List and taking advantage of sales

There are certain things at the grocery store that are always on sale. In Korea, there tends to be buy 1, get 1 free sales on things like cooking oil, breakfast cereal and other processed food and toiletries every month or so. A way to take advantage of these sales is by never getting into the “desperation” phase. When I notice something is getting kind of low, for example a half bottle of oil or 10…

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Where does all the money go, Part 2

Yesterday I was wondering where all my money went and how I could possibly spend around $2000/month since I generally try to live quite frugally. I’ve thought more carefully about it and been looking at some of my spending via online banking and have figured out the following areas where I actually spend quite a bit of money: 1. Transportation. My car: I paid cash for it (of course), but gas in Korea is very…

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Life, post English-teaching in Korea

These days, I’ve been seriously contemplating what my life is going to look like, post-Korea. I have 1.5 years left on my contract and there’s a 99% chance I’ll be leaving at the end of it. I rarely say never, but unless there’s some very compelling reason for me to stay, I’ll go. Going to my homeland of Canada isn’t really an option either since the death-like cold and very short winter days just don’t…

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Here’s an insightful comment from a reader in response to this post, It’s Simple, but it Works. “I agree with everything you said except buying a house. There is an opportunity cost if you pay cash for a house and then your money is tied up doing nothing for you. Your house will appreciate at the same rate whether you own it outright or you leverage it to the hilt. At today’s historically low interest…

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It’s simple, but it works

If I could give only one piece of financial advice to my friends, family members or readers, it would be this: “Spend less than you earn and never go into debt for anything except a modest house or worthwhile educational pursuit.” Okay, well…it’s kind of 2 things combined into 1, but these things are in essence the key to financial success. It actually doesn’t really matter how much money you make, you need to be…

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