Awhile ago, while I am searching for the blue chip stocks in Canada, I landed in one of the best personal finance blog in Canada. The Finance Journey – the financejourney.com was built just to track the owner’s net worth. I admire those types of personal finance bloggers who are writing and discussing their own net worth in their blog.
A net worth is the basis of wealth not the “working income”. To more about the effects of tracking a net worth, read the book of T Harv Eker, the author of The Secrets of the Millionaires Mind”. T. Harv Eker believes, “what you track increases, what you focus on, expands”. If I am not mistaken, T. Harv Eker is also a Canadian.
Therefore, if you are tracking your net worth, there is a big chance that your Net Worth will increase fast. If you focus on your assets, your assets will increase, if you focus on debts, more debts will come into your life.
Best Personal Finance Blog in Canada
Finance Journey blog owner is a stock investor. He believes in investing! In order to become wealthy, we must invest our money. But if we want to get rich fast, we have to do the leverage investing.
Leverage to Get Rich. Just like what most rich people are doing. They became super rich and stay rich because of leveraging. Anyone who wants to take advantage of leveraging should understand two (2) things, and these are;
- OPT: Other People’s Time, you have to hire people to do the task or a certain work for you and make profit.
- OPM: Other People’s Money, you have to use OPM by means of borrowing money from someone else or any financial or lending institutions. The money you borrowed should invest higher than the loan interest rate.
So, what is leverage investing all about? This simply means you are using OPT or other people’s money. Borrow money in the bank, or use your credit card to get capital and invest it in stocks or mutual funds.
We can learn many things at FinanceJourney.Com, one of the things we can learn from this blog is “leverage investing” and “good debt”. Are you familiar with good debt? Let us discuss few things about good debt now.
A good debt means borrowing money and make profit from it. Leverage investing is a part of good debt! A bad debt means borrowing money and create liabilities. Think about this! Should you borrow money just to buy new phone? Should you borrow money and buy stock shares of your favorite corporation? I may choose the second option.
Your POV About Leverage Investing
Now, you know what is meant by good and bad debt, what do you think about the investing strategy of the FinanceJourney.com blog owner? Should you also borrow money and invest in stocks? It’s your turn, share your investing tips and strategies and your point of views about leverage investing.
What do you think about my judgement? Do you believe FinanceJourney is one of the best personal finance blog in Canada? Do you want to add some personal finance blog? Let me know and I will review it. Thanks!