What is financial freedom in Canada? + MORE Oct 23rd

Canadians aren’t short on advice for achieving financial freedom. A quick online search for “how to become financially free” will give you results that can be either informative or confusing. To be fair, some of it is correct, some is misleading, and some is downright wrong. Sources range from personal anecdotes that have worked for the author, to well-researched evidence-based strategies. But you’re not here to learn about my recent Google search history, so let’s dive in. 

What is financial freedom?

Financial freedom is the belief that a certain amount of savings is the ultimate ticket to living a life you want without worrying about money. However, this often means tight budgets, excessive saving and putting off simple pleasures. That could mean not dining out or not taking a spontaneous weekend getaway just to save money, so that one day you can enjoy these things. But when? What happens if it never comes and our time runs out?

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Does financial freedom work?

To answer this, remember that happiness and a fulfilling life go beyond money…

Weddings can be expensive, but so can many of the things that come after a wedding—like a home purchase, starting a family and saving for retirement. That means money is an important relationship issue even before a couple ties the knot. 

Both weddings and home purchases can both cause people to think or spend irrationally—especially amid the rush to “get in the real estate market” while mortgage rates are higher than they have been in 15 years. How can a couple decide which is the better use of their hard-earned savings?

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How much does it cost to get married these days?

Let’s start with weddings. The costs associated with their big day can range drastically from couple to couple, depending on their wedding plans and the size of their family. The dollars differ widely among industry estimates, as well. According to The Knot Worldwide’s 2023 Global Wedding Report, the average Canadian wedding costs USD$19,000—about $25,000 Canadian at the current exchange rate…