Now more than ever, we have the opportunities and tools to achieve financial freedom. The internet brought us the simplicity of managing and budgeting our money and the possibility to manage our own portfolios at very low cost. No one cares about your financial success more than you.
On our path to wealth, we use the following tools and services everyday:
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Keeping track and budgeting
Get a grip on your finances with Personal Capital. Their free tools aggregate all your accounts in one spot and will help you optimize your spending and investing. It is essential to know where all your money is going and how are you spending it.
We have used Mint before but Personal Capital goes one step further and offers great tools for investors such as their Portfolio Fee Analyzer that will show you how much you are actually paying to run your investment portfolio. We like it for its ease of use and detailed tools for investors. This should be your first step to financial freedom and thankfully, it is the easiest step since it is free to signup! Read our full review.
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Paying less interest
If you currently have student loans or personal debt, it’s time you shop and compare for better rates. With SoFi, you could get low-interest loans and make your student loans go away faster. They tend to focus on high credit scores rather than other factors that traditional lenders ask for and they can help you with Personal loans, Student loans, and Mortgages. We have always used mortgage brokers in the past and shopping for a better rate can literally save you thousands!
SoFi was founded in 2011 by four Stanford University business school graduates and started out offering student loan refinancing. They cater to high earners with high credit scores and offer competitive rates as low as 2.82%.
Apply today with SoFi and get rates as low as 2.82%.
If you have credit card debt, you should start with the highest interest cost and pay it all off quickly. A low-interest loan from SoFi can help you pay it all off even quicker! We suggest you follow our tips to pay your debt off quickly.
Credit cards should be used to travel for free, not to use with a balance.
Investing automatically at low-fee
For DIY index fund investing, it is hard to beat Vanguard. They offer hyper-low management fees and diversified products that will let you prosper without paying unreasonable management fees. If you want to pick your own stocks or manage multiple ETF in a brokerage account, we suggest Ally given their low $4.95 commissions and great customer service.
If you are not sure where to start when it comes to investing, we have a lot of articles on the topic and we suggest you do your own research on any investment or service you are considering. We do not provide investment advice but we can guide you in the right direction.
For a hands-off approach, Wealthsimple is great to automatically build a diversified mix of low-fee index funds optimized for your situation and manage all investments for you. They will rebalance your account to make sure you stay optimally diversified as the value of your investments changes.
What we like about them is that their fee structure is simple and low-cost. Open an account today and get your first $5,000 managed for free!
- 0.0% fee for accounts below $5,000
- 0.5% fee for accounts up to $100,000
- 0.4% fee for accounts above $100,000
If you are looking for a hands-off approach to passive investing, Wealthsimple is the way to go.
For your emergency fund or any money you are putting aside for the short-term, we suggest CIT Bank. They offer great rates on high-interest savings accounts.
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Earning rewards and traveling for free
The best thing you can do to start traveling for free is to apply for top-tier rewards cards. For Canada, the American Express cards are amazing too. If you have a high credit score, you can seek out the welcome bonuses and earn thousands a year in rewards. By using our link, you can get 10,000 additional points if you apply today.
Use the points for any travel and you can even convert them to Aeroplan or other flight rewards points to optimize your reward. They also offer the SPG card which rewards you with free hotel stays. We use it to find free hotels all over the world. Read our full review.
Find your card today
and start earning those SWEET miles!
Recap of useful tools
- Personal Capital Track your net worth and manage your finances for free.
- SoFi Pay less interest on loans and save thousands.
- Vanguard Great funds. Pay hyper-low management fees.
- Ally Best discount broker out there. Starts at only $4.95.
- Wealthsimple Best robo-advisor. Get your first $5,000 managed for free.
- CIT Bank Great rates on high-interest savings accounts.
- Find your card today
- American Express Get up to 60,000 points in welcome bonus.