Some money tips & tricks I learned when I left my corporate job within 3 months.

When I graduated SFU in June 2020, I was immediately offered a full time 8:30 AM to 4:30 PM marketing position.

I quit in 3 months.

My social media marketing agency made over $16,000 in September 2020, and that was more than I’ve made working 8:30 AM to 4:30 PM every weekday in an office for the past 3 months.

I’ve always known the 9 to 5 life wasn’t for me, but I’m so grateful that I experienced it. It gave me a huge reality check, and massive shift in perspective. I’ll never forget the feeling of absolute exhaustion I felt every waking up and coming home, or even waking up and wishing it were Friday. That’s no way to live your life. Life is too short to not be loving every second of it.

Here are a few things I’ve done with my money to speed up the process of building my income and leaving the corporate world behind.

Do not get attached to money, a career, and material things.

Unfortunately, a lot of people get stuck in situations that they despise because of external factors. It might be the amount of money they make every two weeks via paycheque despite hating their jobs. It might be staying at a job they put so much energy and time into, just to feel that they’re stuck. It might be having such high expenses, that they need that consistent pay cheque to pay it off.

Money is the key to time and financial freedom ONLY if you know how to manage it.

Don't get attached to money. Only get attached to your calling, purpose, passion, and happiness. Everything else is optional.

Save your money so it will save you.

It’s not always about how much money you make, rather, it’s how much money you keep.

Make sure you have 6 months of expenses of emergency funds stored in a high interest savings account before you contribute to your investment accounts. You never know when you’ll encounter an emergency,

I use EQ Bank, they’re the best Canadian high interest savings account with a 1.5% interest rate. Most banks have interest rates with less than 0.5%.

Referral link to join EQ Bank: https://join.eqbank.ca?code=YZOBEL1031

Every time you get paid, contribute at least 20% into investment accounts. Open a Tax Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP) Account to start building your investment portfolio. Investing for the long term in Index Funds (ETFs) gives an average return of 7% annually. My favourite ETF is an S&P 500 ETF called VOO, and I hold this one for the long term.

Important: Every year, you have a contribution limit for both your TFSA and RRSP accounts. Make sure you know your limit so you don’t get charged extra if you over contribute. Your contribution to your RRSP account is also tax deductible! I use the online brokerage Interactive Brokers for both my TFSA and RRSP investing accounts.

Open your accounts using my link and get a stock worth $1000 for free: https://www.interactivebrokers.com/referral/yzobel864

Less expenses = more savings and investments where your money makes more money for you.

The key to financial security is to have multiple streams of income and the least expenses as possible.

Example of streams of income that are easily accessible: High interest savings account (EQ Bank), investments (TFSA & RRSP accounts), job, business, side hustle.

Pay off your high interest debt first. Prolonging debt less than 4% is okay.

Pay off your credit card debt, especially if you have an interest rate of over 15%. This debt accumulates fast, and given enough time, will be difficult to pay back. This type of debt is considered “back debt” because of how past it can snowball.

Long term debt under 4% is considered “good debt” because of the value that it holds. Examples of this debt include student loans and mortgages on properties. If your debt is under 4%, pay it off slowly and use your extra money to invest in the market, especially since your 7% rate of return is higher than your rate of interest.

Financial education and literacy is the backbone of building your life and business. I could go on about finances forever, but this is a great starting point. I hope that you’ve learned something new on finances, and had a great start to your 2021!

Disclaimer: I’m not a financial advisor, just speaking on my personal experience and multiple finance books that I’ve read.