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Money Lessons From The Town Barber

Written by Tangerine

Monday, September 17th, 2018

Chris Hammel is the Town Barber. His shops are located in Toronto, and are part of a cool urban community. For Chris, there isn’t a solid line between work and his social life. It’s all personal and part of a community that he loves. In this video, Chris share’s the unwitting money lessons he’s learned while growing his barber shop from two chairs in the “closet” of a men’s retail store to two shops and 20 employees.

 

Saving For His Goals

Chris was saving for a wedding ring for his girlfriend when the opportunity to acquire his first barber chair presented itself. He used the money for the ring to start his business. That started a pattern of “goal-based saving” that now defines Chris’ success. He’s always ready for emergencies or opportunities because he’s always saving. And he did marry his girlfriend in the end!

 

Renting Versus Owning

Renting his home in the community where his barber shops are has worked well for Chris. He says the money he’s saving by renting allows him to grow his business at a comfortable pace.

 

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