From Traditional Media

Torontonians overwhelmingly support affordable housing, poll finds — just not in their backyard

Nimbyism (from Not In My Backyard) is known to have successfully prevented high-density residential infill across Canada, and is one of the many factors responsible for the gap between housing supply and demand in fast-growing cities in Canada. […]

Hence even when an overwhelming majority of the residents favour new construction to address worsening housing affordability — 87 per cent in the Ipsos poll — most residents oppose new construction near their homes.

From all my travels, I’ve come to the conclusion that the fact that Canada has so much land is the reason our taxes are so high. The reason is we keep expanding outwards, not upwards. By keeping our density relatively loose, businesses cannot justify investing in those areas (which is why downtown Toronto is so vibrant whereas the rest of Toronto is… not…). Moreover, we then run into issues like building out our public transport. We need to build further out to serve such a small amount of people, which ultimately means that the organisation is losing money by expanding, which means that taxes need to be raised to fund this.

And from a social perspective, shouldn’t we be welcoming those who are less fortunate, those who have recently left what they are familiar with so that their children can have a better life? Those people who could’ve easily been in the same situation as our parents or grandparents when they first came here?

From a Few International Bloggers

It’s Not About The Money, It’s About The Lifestyle

I think we get so caught up in wanting more all the time that we don’t step back to see the overall picture. Or even realize that we have it in our power ALREADY to craft a life we love before hitting our financial goals!

This author wrote this post after reading and reflecting the newsletter she received from another author. I won’t post the whole newsletter in here but this is a pretty important concept.

That’s what I want to talk about in this season of Adventure Tuesday: the idea of creating vs. consuming. I want to talk about how we, as humans, are consumers. We consume non-stop around the clock, and it impacts our mindsets, our health, our money and our relationships.
But we, as humans, are also creators. You might not think you create anything physical (and maybe you don’t really, aside from the meals you eat). However, you are a creative problem-solving human being, and that means you have a little more control over your life than you might currently believe.

We too, believe that money should be used to fuel our aspirations, for us to live our ideal lives. But having the money isn’t enough. It only gives you more options to create the life that you want. You still have to actively make the time for it.

So given where you are today, is there a way for you to start incorporating parts of your ideal life into the life you have now?

Saving for Tomorrow vs. Living for Today

The whole “save for tomorrow or live for today” dichotomy just seems silly to me. I live for today every single day of my life, and I save for tomorrow pretty hard, too. […]
I live for today every time I put down some relatively unimportant task and instead go to the park with my kids and toss a frisbee around with them. […]
I don’t need a flashy trip to live for today. I don’t need a huge house to live for today. I don’t need to do something dangerous to live for today. I have a ton of things in my life right now that are well worth living for today. […]
To put it simply, I save for tomorrow so I can live for today with almost no worry.

This piece really puts a lot of things in a different perspective. Here at MMM, one of our main messages is to get your money to create your ideal life. But we don’t really go into the ideal too much. Maybe it’s something you’d like us to explore more? If so, let us know in the facebook group!

How to use the Envelope System to save hundreds per month
This is a great system that I believe that many people had used to become rich. The only thing I’d change from this article is instead of having an envelope for each discretionary spending (one for eating out, one for bars, one for movies etc), I’d suggest keeping it to 5: one for your daily expenses (rent, bills, debt, groceries etc), one for fun (shopping, cafes, etc), one for skill growth (to speed up the amount you earn), one for your bucket list and one for buying back time.

This would make using the system much easier.

What You Can Control

One of the biggest challenges of personal finance is how much of it seems like it’s completely out of our control. We can’t control the personnel decisions of our boss. We can’t control whether cancer will strike us or our family members. We can’t control the weather. We can’t control the ups and downs of the stock market. We can’t control whether or not our car starts in the morning. […]

At the same time, there are many things in our life that are controllable, but it is sometimes difficult to do so. We want some particular item. We desire someone. We dream of a particular career. Those things are at least somewhat within our control, but getting there from here is prohibitively difficult, or else the reverse is true and controlling and tamping down that desire is really hard.

Spending time on things that you cannot control is not only a waste of your time, but such an energy drain. I’d rather focus on doing what I can so that I can make sure that those things that cannot be controlled do not happen again.

In other words, I’d rather focus on becoming so good at my job that other companies are lining up for me, allowing me to choose my boss. I’d rather focus on making sure I’m providing the best, healthy, delicious meals for my family so the chances of any diseases striking them are reduced. I rather create a scenario where I can be happy with however the weather decides to be that day. I rather create passive streams of income that can keep me comfortable regardless of the stock market’s performance. I rather get a grab / uber instead of trying to get a car to start.