Step one in saving your money: don't spend it. In my industry (real estate, mortgages), if you work hard enough (and smart enough) you can bank a million over the course of 10 or 15 years. And a lot people did here in Vancouver - but some of them have got nothing to show for it.  

Now that the market is slowing down and the money isn't coming in like it used to for some, you start to notice who was smart with their money and who was spending it. And a lot of them are hurting.   

It also exposes those people for their true passion - which likely isn't real estate or mortgages. It just shows that when you do something only for the money, it can have consequences down the road if you're not careful.  

Sure, Vancouver can be an expensive place to live, but so is everywhere if you're shopping at Urban Fare or Whole Foods. So is everywhere if you buy a Porshe instead of a Toyota.   

And I'm not talking about the price of real estate here - I understand it's a little out of control. Much like New York and London. I'm talking about all of the other ways you can cut back on your expenses and not spend frivolously on dumb shit that you don't need.  

Moral of the story: don't do it for the money, do it for your purpose; don't spend on dumb shit; bank all you can and invest it properly.  

For some more in-depth analysis of home ownership check out this episode: "Rent or Buy: Is Home Ownership Worth It?" - https://www.youtube.com/watch?v=5IxaB... ___  

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