Comments on: How To Live On A Single Income

By: The Financial Blogger

The Financial Blogger — Sat, 21 Feb 2009 21:02:10 +0000

Canadian Finance,

I think kids cost about $400 a month without considering day care expenses and setup cost (such as furniture, stroller, etc.).

Good luck!!

By: CanadianFinance

CanadianFinance — Wed, 18 Feb 2009 18:06:44 +0000

These are the kind of tips I need to look into. Expecting our first child in October and I’m sure that will tighten the budget quite a bit!

By: Simpless

Simpless — Sat, 14 Feb 2009 02:00:31 +0000

IS,

One possible strategy would be to build a leveraged investment strategy by using the Smith Manoeuvre. However, you need to be comfortable with leverage and investing in general. TFB has explained this quite well in his previous articles.

By: IS

IS — Sat, 14 Feb 2009 01:18:48 +0000

Simpless…that’s easier said than done. How would you build such a strategy?

By: Simpless

Simpless — Fri, 13 Feb 2009 16:29:49 +0000

Leveraging is vital in this case.
1- Generating passive income through investments and ;
2- Continuing to build up these investments until their passive income can support you.

By: OneDay

OneDay — Fri, 13 Feb 2009 16:26:36 +0000

Yes!!! And for now, save money while you can!!! Like you said, you need to build a solid financial plan. That’s a great sacrifice for your family but it’s worth it!!! Of course, it will be hard in the begining. Keep on going !!! There’s a reward at the end