Financial Freedom: Try Not to Get a Divorce

I have a few friends and acquaintances who are in the middle of some nasty divorces, some of these marriages lasted under five years, and some marriages lasted over 20 years.  Having went through the separation of a 7.5 year relationship myself, I learned that you never really know what life gives you and you can never be fully 100% sure that there will not be a divorce in the future (of course, there are characteristics and traits of the significant other to look for, such as someone being determined, committed to the relationship and not wanting a divorce themselves).  I’m sure no one really walks down the aisle on the happiest day of their life thinking that they will divorce X number of years (or months if you are Kim Kardashian or other Hollywood celebrity) later.

However, I do have a friend who is married to someone who is a financial wreck (here’s a red flag, he had filed for bankruptcy before they met) and he has caused her to be a financial wreck too.  Unfortunately she cannot afford to have a divorce and a single mother and cannot afford to take full custody of the children so they are trying to work on it because the alternative would actually be more costly.  It has definitely caused a rift between her parents and him.

Not only is it an emotionally trying time, trying to figure out your new identity as an individual and not as part of a couple, adding another level complexity with the disentanglement of money and assets is part and parcel of the divorce process.

Money and Marriage

Financial Freedom Try Not to Get a DivorceThis Moneysense article sums up the potential issues of divorce nicely.  Pensions, homes, and even debt is up for grabs (or splitting I suppose).  Get to know your significant other before you get married.  Obviously it’s very important to see if their values of money management match with yours.  Considering money is the number one issue that lead couples to divorce, it is very important to have a similar view of money with your partner.  So, how do they handle their money?  Are they in debt?  How did their family view money when your partner was growing up?

Related: Why Equality in Relationship and Finances Might Not Work for Everyone

Everything is at Risk… Even your Retirement Savings

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Roam Mobility Review

Whenever I head down to the United States with my Nexus (yes, the Nexus pass really is worth it in my humble’s a post on how to apply for it) which is about every few months or so when I do my outlet mall or Trader Joe’s run, I usually (well, 99.9% of the time) turn my phone on airplane mode.  I am not the type to want to rack up hundreds of dollars on my cell phone bill for a few hours in the United States roaming on data or texting for over $1 a text.

No, that would be my worst nightmare.

Nor am I the type to be organized enough to call my telephone carrier company (be it Rogers, Bell, or Telus) to set up a roaming data or telephone or text messaging plan for an additional $X number of dollars a month.

Related: Negotiating A Cell Phone Plan – Still Alive and Kicking

Roam Mobility ReviewSo when I heard of this company while researching ways to save on roaming fees while traveling, I stumbled upon the company, Roam Mobility.  Don’t worry, I didn’t get endorsed or paid for this review, but if Roam Mobility wants to send me some free text+ data days I won’t say no! (haha).

Related: Step-by-step Guide on How to Save Money on Your Cell Phone Contract

Roam Mobility is a company based out of Richmond, a few minutes south of where I live.  I saw that there was a recent promo code for a $5 off discount on the USA Travel SIM card (so buying two would only be $15) so I thought it might be a good idea to try it out.

Here is how you get set up with Roam Mobility.  It was a little confusing for me initially because I’m not a techie.Continue Reading

Net Worth: Comparing Apples to Oranges?

When I started calculating my net worth many years ago (just prior to starting this blog I believe in 2009) I was excited, and I still am excited when I do the calculations every month.  It’s a way for me to keep accountable with my personal finance journey to create my own Findependence Day some day.  One of the first inspirations was Million Dollar Journey when he shared his progress towards having a net worth of one million dollars before the age of 35.  Since then, he has successfully completed his journey this year, starting from $200,000 in 2006 and hitting the magic number in 2014.  His blog has been undoubtedly an inspiration to my own journey of financial freedom.  He is like my personal finance idol.

Related: Book Review: Findependence Day

Although I did not compare my net worth with his even from the very beginning (he is very much ahead in the financial independence game) I did look at it as inspiration (hence the personal finance idol title).  I highly doubt I will have a million dollar journey completion myself at age 35, but maybe in my 40’s it may happen.

Comparing Your Net Worth

Net Worth: Comparing Apples to OrangesIs comparing your net worth to others a good idea when you are possibly comparing apples to oranges? Everyone has a different income, different investing style, different spending style, and different cost of living…right?

Recently I stumbled upon this page full of net worth voyeurism via J. Money from Budgets Are Sexy to many personal finance bloggers who track their net worth on a regular basis, just one click away to reveal the net worths of your favourite personal finance Internet personalities.

I must admit, when I saw some of the net worth results on that page, my eyes bugged out a little and perhaps my jaw dropped to the table for a second.  A few personal finance bloggers have some stealth, well-over $1,000,000 net worth updates.  My first gut reaction was…**gulp!**… hey, I thought I was doing pretty good for my age… then I proceeded to feel insecure and thought I should really be doing better.

So, my conclusion is that everyone reacts differently when they compare themselves to others.  For something that you can change, I think that comparing can be a healthy way to improve yourself.  However, for something that you cannot change, there isn’t much point to compare and make yourself feel worse than you are.

So my response is… brush my ego off a little bit and keep calm and carry on!

Set goals for yourself that you can keep and when you achieve your goals, you will free great no matter what everyone else is doing.Continue Reading