Here are 4.5 easy steps to consider to improve your finances. 

1. Automate your savings

Your savings needs to be automatic. This can be done easily with the help of your employer if they offer a group RRSP or 401k plan. There will be tax benefits as well. Otherwise your bank can automatically transfer funds on a schedule set by you.

2. Become financially literate

Despite how you feel or view money, understanding how to make it work for you is absolutely essential. You may be a slave to your money or have your money be a slave to you. Seek people who are great with their money and learn from them, listen to podcasts or audiobooks… whatever it takes try to at least get a basic understanding.

 3. Be greedy while others are fearful

The legends in the industry were prosperous in 2008/2009. While everyone else was fearful (selling) the wise were optimistic (buying). This is a classic example of buying low and selling high. Unfortunately It’s human nature to buy high and sell low. Think wallstreet & real estate here.

4. Invest in your-self in-order to add value to the market

If you want to increase your offence (earning potential) you must add value to the market place.  This can be done in several ways and its up to you to figure that out. It might come in the form of visiting seminars, learning from a mentor or going to school. Regardless it’s vital to invest in your own mind to push your limits.

4.5 Bonus tip for investors

Rebalance your profile either semi yearly or yearly. Figure out how much you want to allocate to stocks, bonds and other investments such as REITs. This by nature will cause you to buy low and sell high.