April 14, 2008, 6:00 am

If Tomorrow Was Yesterday

by: The Financial Blogger    Category: Personal Finance
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Even though I am still pretty young, I am already looking behind my back to see what I have done and what could have been made to make it even easier. A long time ago, I decided to live without regrets. They are futile and the only thing they will do is rust a part of your spirit. However, it doesn’t mean I could not have done things differently. This post is about all the little things that would make your financial future a little brighter.

Borrow money to go to school

As I was working 35 hours a week while I was at school and my parents were helping me as well, I didn’t have to borrow money in order to finance my University degree. I had the idea of borrowing money at 0% interest rate from the government and invest it but I was just too lazy to complete the required documents. I could have surely borrowed between 10K to 15K back this would have probably be enough to buy a rental property back then. I could have to Montreal and live in my own building. Instead, I was taking the bus and the metro totalling 3 hours of transportation a day.

Buy my parents house

At my last year of University, my parents were ready to make a move and sell their property. They offer to sell it at a fair price but to facilitate the transaction so the bank would approve my mortgage. This was only 6 years ago. 125K is the end of the world when you are 20. I didn’t want to bother with big debts and I didn’t feel it would have been “my house” since my parents lived there 7 years. Only 3-4 years later, it was the housing boom and I could have sold it for 200K.

Buy more lands

At the age of 22, me and my girlfriend (to become my wife the year after) were both working and had very few debts (a car lease and or rent to pay each month). We had a lot of free cash flow every month but we were using it to go out, travel and buy clothes. At one point, we decided to force ourselves to put money aside through a personal loan that was used to buy a piece of land. We had a really good deal at that time and we did the right move. Even though I was not able to get a bigger loan from the bank, I should have reach for other financing possibilities to buy a second piece of land. In the end, we only put 3K as a down payment and made 3K in profit the year after when we decided to buy a property.

Take more time to buy my first property

William was still a newborn baby and we decided to buy a property. We went on the internet and started our search. After a few days, we decided to visit two properties. As we were looking on the south sore of Montreal, we had to cross the bridge and go through an awful lot of traffic to visit them. We did the 2 visits and we put an offer the next day. It was quite a stupid move as six months after; we realized that the house was not what we were looking for. Therefore, we had to sell it and buy another one. I lost almost 10K in the whole process.

I have learned huge lessons from those stories. In fact, I believe that they could be valid at anytime of you life:

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Wrong decisions help us to gather experience and plan the future likewise. So i think rather than regretting the wrong moves in life we should learn from them so that we do not make more severe mistakes in future.