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Credit Scores Are Pretty Silly But You Better Know Yours
That’s right, I think credit scores are kinda nonsensical but sadly they are hugely important. A bad one can have some pretty severe consequences. It will have an impact on your ability to borrow for a car or a house. It even effects the finance rates you will get when you do borrow. So you better be checking yours regularly and learn how to manipulate their calculation factors to improve your credit score. Most of the information I provide is specific to Canada but all the info is applicable just about anywhere. My Perfect Score Depending who you ask I…
4 min read
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2025 Goals: Crushed a Big One in Week 1!
One of my biggest goals for 2025 which for many is a major life goal has been achieved and it’s only the first week. That’s right as of today the mortgage on my primary residence has been paid in full. How did I manage to do this in just one week? I didn’t. In fact this goal was 10 years in the making and maybe even longer if you consider the full 25 years of home ownership? This one is about the journey toward mortgage freedom. It starts with a desire for mortgage freedom. Many people I speak to don’t…
4 min read
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The Importance of Tracking Net Worth
Having an accurate estimate of your current net worth is the foundation of understanding your financial fitness. Let’s explore why tracking your net worth is essential. In the early stages of my financial journey, I firmly believed I was making sound financial decisions. I was budgeting (somewhat), investing regularly, reducing debt and generally avoiding extravagant purchases. I didn’t even own my first car till I was 35. But during that time there was always some level of financial stress. I later learned that was because I didn’t know where I stood financially. I also didn’t have a good sense of…
4 min read
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Functional Goal Setting
It’s nearly that time of year with 2025 fast approach and we start to think about our new year’s resolutions. Personally, I’m not big on defining a single resolution that most break within the first week but I very big on setting personal goals for the year to come. I usually take the time between Christmas and New Years to clearly define two set of goals for the following year. It’s a bit of time to level set on what has been achieved and what needs to be done to continue successfully on the journey. Based on the theme of…
4 min read
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Defining Financial Health and Fitness
How do we even go about defining financial health and fitness? It’s tough to improve what hasn’t been defined. We’ve all be driven around and the seen people living in giant homes with expensive cars in the laneway. Surely those people are financially fit being able to afford such luxuries. Sadley, material possessions are the first thing we often look at when considering wether we see someone as wealthy. Most know that in financial terms we call these things assets. But what if in order to actually pay for these luxuries that person took out large mortgages and loans. And…
4 min read
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Welcome to Financial xFit
Welcome to Financial xFit and my very first blog post. If you are reading this then thank you. A huge part of this for me is learning how to blog, communicate my thoughts and learn about building online engagement. Purpose Simply put, my goal at Financial xFit will be to share the knowledge I have accumulated over the last 25 years or so to build wealth. Many reading this will say there are already a million financial resources and blogs in existence so why another one and what makes you so special. That is true, I am not all that…
4 min read