Wednesday, 17 August 2016

Blog Rank

I stumbled upon Modest money some time before. There was this list of Top finance Blog List. . I like to see where my blog stands. So, I followed the instructions and submitted my blog. On the side bar, you can see the Blog Rank. 

I started to look on the blog rank for a few weeks. The finding amuses me. Rank goes up when I do not post frequently. If I made a blog post, the rank goes down. Interesting, write?

Tuesday, 16 August 2016

Weather and Money

It is raining cats and dogs outside. I got notified that I will be starting my work half hour late . Guess, there is a patient cancellation. Yes, Dental assistants hours get cut according to the schedule. Sometimes, they need to work late evenings because of extra bookings. That is really difficult when they wanted to cook dinner for the family or take kids for extra curricular activities.

Ok, let us talk about the weather. I like the sound of rain. But, walking in the rain is not funny. Working with wet clothes in the office where you cannot control the temperature is not a great idea.
So, I will be taking bus. So, that gives a little dent in my savings.

Think of the snowy days of winter... With my $14 per hour wages, a$2.95 token is really really expensive. I know, I am not the only one feeling the pain. many of the minimum wage earners are also feeling the same pain.

What do you think of the connection between weather and money? do you feel there is a connection?

Friday, 12 August 2016

Malls and Peronal Finance

We went to the mall yesterday evening.
I know, what is so much to talk about it, right?

I haven't have much chances to go to the mall in this year. Most of the evenings were spent at work. After work, I really wanted to go home and rest. So, when I say, we went to the mall, it is unusual for me and my family. Especially going with the purpose of buying things for me, is a rare thing.

So, with all those background information, I will begin again: We went to the mall yesterday evening. I wanted to buy a top. The Bay was the first choice. At Scarborough Town Center, the Bay is under renovation. But the shop is still open. The things were on display were elegant, stylish and expensive(for me, I think). The T-shiirs with $14 were so dull looking, in  boring colors with words I don't really want on me. The bags, tops, dresses all which I loved to see were priced so high.  Only last year I bought a couple of t-shirts from this shop for less than $20. They are still in good shape. No slogans on them. If I had my real purchase mentality, I would have bought a couple of nice dresses and would have regretted later. Thankful that I was not alone.

A walk in the mall to find another store made us aware of how rich things are there!. People walking in the mall with shopping mall as if they just stepped out of a TV commercial. I was wondering how much they might have spent on the stuff they were holding.

It seems to me that the malls are designed to make us spent and be poor. After settling to a purchase for a $20 top, we walked in the mall, just for the sake of walking. The tempting sale signs, and the pretty store displays were big distraction. I am glad that I have this big goal of financial independence and didn't spent on anything unnecessary. It also proved that how vulnerable I am to the attractive store fronts. The malls can put a real dent in my personal finance goals.

Have you ever felt that way, that the malls are there to rob you off your money? What strategies you will choose to survive the impulse spendings at malls?

Sunday, 7 August 2016

July Update: Dividend and blog

Can you believe the half of the 2016 is already over???

It is almost 6 months before I did my first blog post. With above 70 posts, my blog is still going on. Glad to keep the goal on perseverance. 

My combined dividend for RRSP and TFSA for July 2016 is $104.70. That is more than what I earned in June. This month TFSA is the winner. 

How is your DIY personal finance accounts looks like? 

The blog income is just #22.55. That comes with a great surprise, because, I didn't put great effort to market the blog. 
The ads from Chitika is not making anything at all. I might delete that account soon. 

Did you ever tried Chitika with any positive outcome? 

Friday, 5 August 2016

My take on O"Leary's book

I mentioned in my previous blog post how I ended up with six books to read in 21 days. The second one I read is "Cold Hard Truth On Men,Women and Money" by Kevin O"Leary. 


I knew him from Dragon's Den. But didn't liked his "I am smarter than you" attitude at that time. 

Anyway, I saw the book and decided to give it a try. Really got hooked on the book from the first page itself. The language is simple, yet capturing attention.

From the introduction itself, I know, it is a book for Canadians. When people immigrate, they really didn't understand the credit system here. O'Leary tells us why each person needs to create good credit rating. 

To make the book interesting O'Leary added his own personal stories in it. He mentioned about many money mistakes we tend to make and give fixes for them

He give a no nonsense advice about higher education. I heard many young people going to pursue their passion by choosing liberal arts in university. The book tells us the universities are also businesses. How young people should have plan to make money after the education and pursue their passions too.  
Some things like no wedding rings and flowers for your wedding may be not for every one. But, why you should accumulate debt just to get married? 

His suggestion of not having more than 20% in one type of investment, including real estate may be hard. Especially in the hot hot real estate market, it is hard to keep the investment on the house lesser than 20%. 

O'Leary is not forgetting anything about money in this book. He talks about retirement, long term care, and funeral expenses. 

To me it is a great book about money. I am sure we all will find at least some bits of information very useful in life from the book. Even though, you don't like Mr.O'Leary on TV, you should read this book. 

Thos of you who gone though the book, what you think of it?

Thursday, 4 August 2016

Change habits to Change Life

What you think of getting financially independence? Is it an achievable goal? What we should be doing to be financially independent? What personal finance changes we need to make?

When we are doing the same thing everyday, how can we get a different result? I don't know: but I expect to attain financial independence by working the same job as usual. But, when I looked closely,I can see some habits are not really good for my personal finance.
It was like this: get up , get ready, go to work, get paid, buy stuff. Yes, I bought a lot of stuff, some times on sale, other times just to show others or to satisfy myself. 

Before getting mindful about money, my habit was like this: I usually get paid once a month. I get the cheque and place it on the dressing table. Do you know, I was too busy to go to the bank and deposit. Or may be I am lazy on that particular day and just procrastinate to deposit.

Now a days, I changed a bit. I make the time to deposit the money ASAP upon receiving it. With that change, I called the bank and cancelled the over draft protection. It saves me $4 a month, ie. $48 an year. Awesome savings!!!

Another changed habit is to put auto reminders on the phone to pay the bills in time. That will prevent paying late fees and interests.

Checking the balance in the bank account to make sure there is enough money for the monthly auto payments is another new habit. Good for my personal balance sheet, right?

Another new habit is to Pay Myself First.
That also means, my RRSP and the TFSA have some money to invest for the future me.That way my passive income can grow too.

Do you change any habits for the sake of personal finance improvements or just for changing your life?

Wednesday, 3 August 2016

Lazy Man's Way to riches: a book review.

I heard about a book or two on the personal finance blogs. Then,  being a Torontonian, with access to library, I look for those books in the library. The library helps me to place hold on the books. I will go and pick up the books when they come to my local branch.
Last week, I got six books. Yes, the books all arrived together. Now, I have to choose which one to read first: tough choice!!!

I started with "The Lazy Man's Way to Riches". This one is revised, updated and expanded by Richard Gilly Nixon. The book mentions about a guide book. But, when I checked the website, it is not free to download. 
While searching for the guide book, I stumbled upon the original book in pdf format online. 
This is written based on the theory of auto suggestion. The book gives the idea of Dyna/Psych, to achieve whatever we need to achieve. If you already gone through "Think and Grow Rich", you know what is auto suggestion. 
The idea is to define what we really want to achieve in life. When we really think about it, the idea of having a million may not be the greatest thing we need to achieve. 
The book helped to identify what I truly needed. 
The book describes the tools: Daily declaration, creative self awareness and super suggestion. 
In the original book, Joe Karbo explains about Dyna/Psych in detail. I am not going to spill that out here. 
since I am not really interested in the direct marketing, I did not read about that part of the book. 
If you are interested in writing goals and willing to try auto suggestion, you will love this book. I like the style of writing. It is simple to read and easy to understand. You will find it as a self help book as well as a manual for marketing and copywriting.
Then a little reading about Mr. Karbo made me realize that he was not lazy. He made great fortune by running direct response business. Then he worked as an actor, which was his passion. 

In essence, find out what you really wanted achieve, then work for it. to achieve the great riches, you must read it, Study it, visualize it and Perform it: in short, R.S.V.P.  

Do you think you can be rich by using the methods in this book?