The power of electricity can be best realized when you utilize it effectively. With the demand of the electricity skyrocketing and the supply drooping, saving a single unit of power becomes very significant. Here are a 15 effective tips to save electricity and thus save the money.
1. Switch off the lights, TV, computer, etc., when not in use.
2. Use fluorescent lamps instead of incandescent lamps. Fluorescent lamps not only help to save the electricity, but they also provide a better lighting and are cost effective too.
3. Use dimmer controls in your incandescent lamps so that you can adjust the intensity of the light.
4. Minimize the use of air coolers and air conditioners. Instead, use the fans, whenever possible.
5. Electric iron is a real power hog. If you use it carefully, you can save a considerable amount of energy. Instead of doing daily ironing, do it on a weekly basis.
6. Operate the air conditioner in the minimum temperature range possible in order to save power. Keep it under medium or low operation condition and set the temperature a little higher. Take the help of nature to save the electricity. Try to utilize the warmth of the sun whenever available in the winter, and the coolness of the garden in the summer instead of crouching near the air conditioners always.
7. The ideal temperature to operate a refrigerator is between 36 to 42o F. If the temperature is kept lower than this, it would be simply a wastage of power.
8. While operating your heaters in the winter, reduce the temperature level to a couple of degrees lower than that in the normal conditions.
9. If you are using laser printers in your office or home, keep a watch on it. It can draw your electricity bills up by hundreds of watts! Try to save maximum power by using it minimum, and keep the power switch off while not in use.
10. Use of smaller gadgets will help reducing the power to great extent. A microwave oven can be preferred to a regular electric oven, and so is an electric kettle to a stovetop one.
11. Minimize the use of hair dryer.
12. Control the use of smaller gadgets such as electric clocks, telephone answering machines, DVD players, cable TV converters, etc. Though they seem insignificant, the compounded effect of these instruments in multiplying your electricity bill cannot be ignored.
13. Keep a watch on the electricity meter. Have a regular estimation of the meter reading yourself to detect any unexpected power leakage from the circuit.
14. Use the modern gadgets that apply the energy-saving technology.
15. Do not open the door of the electric oven or the refrigerator unnecessarily.
Free App
30 Second Real Estate Analyzer
Showing posts with label General. Show all posts
Showing posts with label General. Show all posts
9.27.2011
8.05.2010
Top Canadian Personal Finance Blogs
I have been working on this personal finance blog for a few years and I have spent the last few months trying to increase its content. Once you get started in trying to provide relevant personal finance content with a Canadian theme then you'll quickly come across fellow bloggers that are doing the same. Here is my list of the top Canadian personal finance blogs.
Your comments and suggestions are welcome if you believe that any other blogs should be noted.
MillionDollarJourney.com
InvestItWisely.com
CanadianCapitalist.com
CanadianFinanceBlog.com
YoungAndThrifty.ca
CanajunFinances.com
Your comments and suggestions are welcome if you believe that any other blogs should be noted.
MillionDollarJourney.com
InvestItWisely.com
CanadianCapitalist.com
CanadianFinanceBlog.com
YoungAndThrifty.ca
CanajunFinances.com
7.21.2010
7 tips for staying out of debt when unemployed
7 tips for staying out of debt when unemployed
While nothing will remove the sting of unemployment, there are still things you can do to weather job loss in a down economy. According to Statistics Canada, the unemployment rate hit 8.7 percent in August 2009. Although this is only a slight increase from July 2009, it is still a concern, especially since it's during tough economic times that unemployed people become consumed by debt.
Financial experts such as retired financial consultant and personal accountant Bill Christie suggest that people prepare for unexpected events such as unemployment well before they occur. "Folks should have at least three months of expenses saved up just in case. That way they are prepared for the initial blows of unexpected hard times, and won't turn to credit to pay regular bills."
But what can most of us, who don't prepare ahead of time, do? The following seven tips can help you cope in hard economic times, and help you stay out of debt while you're out of work.
1. Make a budget and stick to it. Figure out how much money you'll have to work with, and how much money you'll need for your bills. You aren't going to be able to maintain whatever lifestyle you had before you lost work, but you can still get by. And remember, you'll need to factor in such things as transportation, stamps and other things that you use while you're looking for work.
2. Create a food plan. To stay within your budget, create weekly menus where you can use items as leftovers, or even freeze food for future meals. Watch for grocery sales in your local newspaper, and be sure to buy nutritious foods that have a longer shelf life and fill you up (e.g., pastas, canned/frozen fruits and veggies, beans), rather than food that spoils easily, or is cheap but not healthy. See if you qualify for any sort of food assistance through community assistance programs or your E.I. office. Food is a basic necessity we all need to survive. Just because you are enduring tough times shouldn't mean you have to starve.
3. Take those odd jobs nobody thinks of. Remember those neighborhood jobs the teenagers did? Look for some of those jobs. Mow people's lawns, house/dog/babysit, do handy work or fix cars, if you have a talent for such things. You can also start a small business based on the talents you had at your last job, or try making a bit of pocket cash from that hobby you enjoy.
4. Don't be too proud to take a part-time job. Places like McDonald's, Subway, Wal-Mart and others are always hiring. It may not be the career job you're looking for, but it's an income to help pay the bills until you get another job in your field. Don't turn down jobs that aren't "up where you worked." It will feel better to be able to pay your bills than to let them pile up.
5. Don't use credit. Cut up those cards, take that line of credit off your bank card, and avoid using any other form of credit during unemployment. It's way too easy to put your mortgage or rent payment on your credit card. Sure, it'll be paid, but what about next month? Accumulating rent on your credit cards or line of credit will only create more stress. And when you do get a job, you'll be spending most of your earnings paying off what you stuck on credit instead of getting yourself back on your feet. Another tip Christie offers: "Call any of your creditors and ask them to put your account on hold or cancel it completely if you have a card with an annual fee. You may not use the cards at all, but you'll still be charged that fee and -- guess what -- that will accumulate interest, too. You don't want your credit reports messed up for a small charge."
6. Accept outside help. If people reach out to you offering food, meals or child care while you go to interviews, accept it. People who offer help do so because they genuinely want to help you in some way. We all need help during tough times, so don't turn any open hands away.
7. Seek counseling if you need it. A lot of us experience depression when we're out of work for a long time. Do what you can to stay positive, including seeking some sort of counseling. Most E.I. offices offer such services, and there are places in the community that will listen, too, including churches, drop-in centers or similar locations.
One of the most stressful things in our lives is to lose our livelihood. It can be scary to wonder where the money will come from to pull us through, but never turn to credit for solutions, as that will only create more problems. Stay positive, watch your spending, and seek whatever counseling you need to get by.
Published: September 9, 2009
While nothing will remove the sting of unemployment, there are still things you can do to weather job loss in a down economy. According to Statistics Canada, the unemployment rate hit 8.7 percent in August 2009. Although this is only a slight increase from July 2009, it is still a concern, especially since it's during tough economic times that unemployed people become consumed by debt.
Financial experts such as retired financial consultant and personal accountant Bill Christie suggest that people prepare for unexpected events such as unemployment well before they occur. "Folks should have at least three months of expenses saved up just in case. That way they are prepared for the initial blows of unexpected hard times, and won't turn to credit to pay regular bills."
But what can most of us, who don't prepare ahead of time, do? The following seven tips can help you cope in hard economic times, and help you stay out of debt while you're out of work.
1. Make a budget and stick to it. Figure out how much money you'll have to work with, and how much money you'll need for your bills. You aren't going to be able to maintain whatever lifestyle you had before you lost work, but you can still get by. And remember, you'll need to factor in such things as transportation, stamps and other things that you use while you're looking for work.
2. Create a food plan. To stay within your budget, create weekly menus where you can use items as leftovers, or even freeze food for future meals. Watch for grocery sales in your local newspaper, and be sure to buy nutritious foods that have a longer shelf life and fill you up (e.g., pastas, canned/frozen fruits and veggies, beans), rather than food that spoils easily, or is cheap but not healthy. See if you qualify for any sort of food assistance through community assistance programs or your E.I. office. Food is a basic necessity we all need to survive. Just because you are enduring tough times shouldn't mean you have to starve.
3. Take those odd jobs nobody thinks of. Remember those neighborhood jobs the teenagers did? Look for some of those jobs. Mow people's lawns, house/dog/babysit, do handy work or fix cars, if you have a talent for such things. You can also start a small business based on the talents you had at your last job, or try making a bit of pocket cash from that hobby you enjoy.
4. Don't be too proud to take a part-time job. Places like McDonald's, Subway, Wal-Mart and others are always hiring. It may not be the career job you're looking for, but it's an income to help pay the bills until you get another job in your field. Don't turn down jobs that aren't "up where you worked." It will feel better to be able to pay your bills than to let them pile up.
5. Don't use credit. Cut up those cards, take that line of credit off your bank card, and avoid using any other form of credit during unemployment. It's way too easy to put your mortgage or rent payment on your credit card. Sure, it'll be paid, but what about next month? Accumulating rent on your credit cards or line of credit will only create more stress. And when you do get a job, you'll be spending most of your earnings paying off what you stuck on credit instead of getting yourself back on your feet. Another tip Christie offers: "Call any of your creditors and ask them to put your account on hold or cancel it completely if you have a card with an annual fee. You may not use the cards at all, but you'll still be charged that fee and -- guess what -- that will accumulate interest, too. You don't want your credit reports messed up for a small charge."
6. Accept outside help. If people reach out to you offering food, meals or child care while you go to interviews, accept it. People who offer help do so because they genuinely want to help you in some way. We all need help during tough times, so don't turn any open hands away.
7. Seek counseling if you need it. A lot of us experience depression when we're out of work for a long time. Do what you can to stay positive, including seeking some sort of counseling. Most E.I. offices offer such services, and there are places in the community that will listen, too, including churches, drop-in centers or similar locations.
One of the most stressful things in our lives is to lose our livelihood. It can be scary to wonder where the money will come from to pull us through, but never turn to credit for solutions, as that will only create more problems. Stay positive, watch your spending, and seek whatever counseling you need to get by.
Published: September 9, 2009
7.12.2010
Interac
So I've been in a rush the last few days and haven't had the time to visit metro or loblaws for groceries. So this sadly means visiting 'jared' at subway. I've also had to use my debit card instead of credit because believe it or not but not all places accept visa credit cards. So here's some info on interac the business since those guys have been making money off of me this week.
Interac 2008 Research FactsIn a recent survey conducted by Toronto-based organization "The Strategic Counsel" on behalf of Interac Association, the majority of cardholders polled agreed with the following statement: "Interac gives you access to your money whenever you need it."Our 2008 Annual Benchmark Tracking Study reviewed Canadians' payment preferences and attitudes towards Interac services, including two key Interac services: Interac Direct Payment (IDP) and Interac Shared Cash Dispensing. Here are some highlights from the study based on 1,500 interviews conducted nation-wideInterac is for Everyone• 9 in 10 Canadian adults have a banking card and therefore have access to Interac products and services Interac Direct Payment is accepted at more places than ever• More than 406,000 merchants offer Interac Direct Payment, representing over 591,000 payment terminals Did you know?• In 2000, Interac Direct Payment surpassed cash as Canadians' preferred method of payment, and the service has continued to grow to 3.5 billion transactions in 2008• 15.9 million transactions were processed on December 23, 2008 - the busiest shopping day of the year - which is up ~ 2% from 15.6 million transactions on the peak day in December 2007• 1 in 2 Canadians say Interac Direct Payment is their favourite way to pay Easy access to your moneyInterac Shared Cash Dispensing was the first service offered by Interac Association and allows Canadians to withdraw cash from any Automated Banking Machine (ABM) in the country that displays the trusted Interac logo. Canadians have secure and reliable access to their cash 24 hours a day, seven days a week.Canadians have indicated their desire for convenient access to their cash - Automated Banking Machines can now be commonly found in non-traditional locations, everywhere from convenience stores, to gas stations to hockey rinks.• 95% of cardholders have used Automated Banking Machines, with 33% completing an Automated Banking Machine transaction more than once a week• 2 out of 3 cardholders used Interac Shared Cash Dispensing in 2008• There are over 55,000 Automated Banking Machines available across Canada
Sent wirelessly from my BlackBerry device on the Bell network.
Envoyé sans fil par mon terminal mobile BlackBerry sur le réseau de Bell.
Interac 2008 Research FactsIn a recent survey conducted by Toronto-based organization "The Strategic Counsel" on behalf of Interac Association, the majority of cardholders polled agreed with the following statement: "Interac gives you access to your money whenever you need it."Our 2008 Annual Benchmark Tracking Study reviewed Canadians' payment preferences and attitudes towards Interac services, including two key Interac services: Interac Direct Payment (IDP) and Interac Shared Cash Dispensing. Here are some highlights from the study based on 1,500 interviews conducted nation-wideInterac is for Everyone• 9 in 10 Canadian adults have a banking card and therefore have access to Interac products and services Interac Direct Payment is accepted at more places than ever• More than 406,000 merchants offer Interac Direct Payment, representing over 591,000 payment terminals Did you know?• In 2000, Interac Direct Payment surpassed cash as Canadians' preferred method of payment, and the service has continued to grow to 3.5 billion transactions in 2008• 15.9 million transactions were processed on December 23, 2008 - the busiest shopping day of the year - which is up ~ 2% from 15.6 million transactions on the peak day in December 2007• 1 in 2 Canadians say Interac Direct Payment is their favourite way to pay Easy access to your moneyInterac Shared Cash Dispensing was the first service offered by Interac Association and allows Canadians to withdraw cash from any Automated Banking Machine (ABM) in the country that displays the trusted Interac logo. Canadians have secure and reliable access to their cash 24 hours a day, seven days a week.Canadians have indicated their desire for convenient access to their cash - Automated Banking Machines can now be commonly found in non-traditional locations, everywhere from convenience stores, to gas stations to hockey rinks.• 95% of cardholders have used Automated Banking Machines, with 33% completing an Automated Banking Machine transaction more than once a week• 2 out of 3 cardholders used Interac Shared Cash Dispensing in 2008• There are over 55,000 Automated Banking Machines available across Canada
Sent wirelessly from my BlackBerry device on the Bell network.
Envoyé sans fil par mon terminal mobile BlackBerry sur le réseau de Bell.
7.11.2010
Vacation money savings tip
When on the great canandian this summer for your family vacation it can be a good strategy to find the cheaper gas stations. For instance I was vacationing in st-sauveur but ikm goiing to the esso gas station about 45 minutes from st-sauveur in order to save about 5 cents per litre. Also, pack some snacks for the road to avoid the continual drice thru nightmare that is tim hortons.
Sent wirelessly from my BlackBerry device on the Bell network.
Envoyé sans fil par mon terminal mobile BlackBerry sur le réseau de Bell.
Sent wirelessly from my BlackBerry device on the Bell network.
Envoyé sans fil par mon terminal mobile BlackBerry sur le réseau de Bell.
7.09.2010
Fun in the sun
So what are your plans to beat the heat on this beautiful weekend? Did you have any money savings tips to treat your family to a low cost weekend?
Sent wirelessly from my BlackBerry device on the Bell network.
Envoyé sans fil par mon terminal mobile BlackBerry sur le réseau de Bell.
Sent wirelessly from my BlackBerry device on the Bell network.
Envoyé sans fil par mon terminal mobile BlackBerry sur le réseau de Bell.
7.02.2010
Traffic Tickets in Ontario
If you have had the unfortunate luck to have a traffic infraction then you should get familiar with some sources that can help you to possibly save on some of the expenses. Whether you have done a DUI or impaired driving then you can check out the links below.
Autoshow: http://www.autoshow.ca/2008/
AutoTrader: http://www.autotrader.com/
Car Insurance: http://www.insurancehotline.com
Maps: http://www.maps.google.com
Ministry of Transportation: http://www.mto.gov.on.ca/
Parking Tickets: http://www.toronto.ca/parkingtickets/
Speeding Tickets: http://www.torontotraffictickets.com/speeding.html
Search Engines: http://www.Google.ca
Traffic Tickets: http://www.torontotraffictickets.com
Toronto Police: http://www.torontopolice.on.ca/
Wikipedia: http://en.wikipedia.org/wiki/Traffic_ticket
Ontario Traffic Tickets: Ontario Traffic Tickets - fights your Ontario traffic ticket.
New Jersey Traffic Tickets: New Jersey Traffic Tickets - Providing New Jersey traffic ticket attorney services.
New York Traffic Tickets: New York Traffic Tickets - New York traffic ticket attorneys ready to fight all of your New Jersey and New York traffic tickets.
Autoshow: http://www.autoshow.ca/2008/
AutoTrader: http://www.autotrader.com/
Car Insurance: http://www.insurancehotline.com
Maps: http://www.maps.google.com
Ministry of Transportation: http://www.mto.gov.on.ca/
Parking Tickets: http://www.toronto.ca/parkingtickets/
Speeding Tickets: http://www.torontotraffictickets.com/speeding.html
Search Engines: http://www.Google.ca
Traffic Tickets: http://www.torontotraffictickets.com
Toronto Police: http://www.torontopolice.on.ca/
Wikipedia: http://en.wikipedia.org/wiki/Traffic_ticket
Ontario Traffic Tickets: Ontario Traffic Tickets - fights your Ontario traffic ticket.
New Jersey Traffic Tickets: New Jersey Traffic Tickets - Providing New Jersey traffic ticket attorney services.
New York Traffic Tickets: New York Traffic Tickets - New York traffic ticket attorneys ready to fight all of your New Jersey and New York traffic tickets.
Are you looking for a life partner?
http://www.canadianbusiness.com/my_money/planning/retirement_rrsp/life_expectancy/tool.jsp?ref=ln
If you're looking for a life partner then maybe you'll want to forget about the online dating systems and use this calculator to determine if they should join your net worth as an asset. (secretly ducking from my wife!) lol
Try it for fun!
If you're looking for a life partner then maybe you'll want to forget about the online dating systems and use this calculator to determine if they should join your net worth as an asset. (secretly ducking from my wife!) lol
Try it for fun!
Interesting financial definitions
Asset-backed commercial paper (ABCP) is a form of short-term debt created when an issuing party (usually a bank or other financial institution) agrees to pay a given sum of money to a recipient, typically a company in need of immediate cash or other liquid assets, in exchange for the recipient's sale of certain assets to the issuer as collateral, in addition to the recipient's promise to pay back the sum in between 90-270 days.
The issuing party, after purchasing receivables from the company desiring to issue ABCP and thus obtaining rights to the cash flows they create, then channel those cash flows into the ABCP it eventually sells to private investors.
A benchmark is a proxy for a market, economy, class of equity, or sector, generally setting a standard against which the performance of a stock, bond, mutual fund, commodity, or other security is measured.
Benchmarks are also used to gauge the health of a market, sector, or entire economy.
Call price is the price, specified at issuance, at which a bond or preferred stock can be redeemed by the issuer. It is also referred to as the "redemption price".
Forex (FX) is short for foreign exchange and refers to the trading of one currency for another. Unlike stocks or futures, currency trading is an over-the-counter market with no central exchange.
Currencies typically trade in pairs such as the EUR/USD or USD/JPY. Currencies common to Forex tend to be the most liquid currencies such as the U.S. Dollar (USD), Japanese Yen (JPY), Euro (EUR), British Pound (GBP), Swiss Franc (CHF), Canadian Dollar (CAD), and Australian Dollar (AUD).
Margin is a term given to borrowed money (and associated accounts) used to purchase securities. When an investor buys stocks, bonds, futures contracts, currencies, or other equities with this borrowed money, she is said to do so "on margin".
Functionally, margin can be thought of as a simple loan from a broker to augment one's position in a security. This requires, however, that a certain minimum of the investor's own money be available either in the investment or simply inactively held in the account. This minimum amount is generally some percentage of the loan total issued by the brokerage and is called the "margin requirement" or "minimum margin requirement". If the value of the investor's stake in the security falls below the minimum margin requirement, the brokerage will typically issue a #Margin Call or, in some cases, automatically sell off the security to recoup or prevent further losses.
Though each exchange sets the limits for margin transactions, brokerages offer margin buying to their clients at varying rates beyond the brokerage mandated limits, though never in violation of them. For example, an exchange may have a minimum margin requirement of 25%, but a brokerage might instead impose a 30% minimum margin requirement on its clients.
The size of the initial loan made by a brokerage is some percentage of the original money the investor puts up and is called the "initial margin requirement" or "initial margin limit". Typically the maximum balance a broker will allow to remain outstanding with such a loan is 50%. The reasons why this is common practice have their roots in the Great Depression, as excessive amounts of land-speculative margin debt (typically around 90% of the total value of the speculated land) combined with manifold concurrent margin calls have been cited as major causes Black Friday in 1929 and consequently the Great Depression. As such, somewhat more conservative margin limits have been imposed to prevent a similar catastrophe from reoccurring.
Margin debt is usually incurred with either the hope or expectation that subsequent increases in the stock's value will cover the remainder of what is owed to the broker, thus eliminating the buyer's debt (and possibly creating a profit).
The Price to Book Ratio (alternately Price to Book, Price to Book Value, Price/Book, P/B, or P to B) is a financial metric used to compare a company's book value to the share price at which it is currently trading. It is generally calculated by dividing the share price by the book value per share, though it can also be calculated by dividing the company's market capitalization by the total book value listed on the balance sheet.
The Price to Book Ratio varies dramatically between industries. A company that requires more assets (e.g. a manufacturing company with factory space and machinery) will generally post a drastically lower price to book than a company whose earnings come from the provision of a service (e.g. a consulting firm).
Price to Book is often used to gauge a stock's relative value. A company trading at a low price to book, particularly when compared to other companies in its industry, is thought to be undervalued relative to its share price. However, a low price to book could also be an indication of negative forward looking investor confidence (e.g. poor earnings projections) or a disproportionate amount of Intangible assets on the books, depending on which version of the calculation is used (see below section on tangible vs intangible). As such, when used for security analysis, price to book is often coupled with metrics such as P/E, PEG, Return on Equity, and the Current Ratio to get a better snapshot of the company as a whole.
Unsecured Loans are loans that are not backed by collateral. This is in contrast to secured loans, wherein the borrower must pledge some asset (e.g. real estate, personal property, investment securities) to the lender should he default on the loan.
Unsecured loans are sometimes called "signature loans" because the bank has nothing but your signature. If the borrower goes into default they cannot posses any of your belongings; rather, they can report you to credit reporting companies and taint your credit.
Typically, unsecured loans are issued on the basis of the borrower's credit rating, though it should be noted that all loans lacking a collateral pledge (including informal loans between friends) are technically unsecured loans. For borrowers who don't have any collateral to pledge, these unsecured loans may seem attractive. However, since there is an increased risk for the bank, most of the times the interest rates are higher.
Commercial Paper is a notable unsecured loan.
The issuing party, after purchasing receivables from the company desiring to issue ABCP and thus obtaining rights to the cash flows they create, then channel those cash flows into the ABCP it eventually sells to private investors.
A benchmark is a proxy for a market, economy, class of equity, or sector, generally setting a standard against which the performance of a stock, bond, mutual fund, commodity, or other security is measured.
Benchmarks are also used to gauge the health of a market, sector, or entire economy.
Call price is the price, specified at issuance, at which a bond or preferred stock can be redeemed by the issuer. It is also referred to as the "redemption price".
Forex (FX) is short for foreign exchange and refers to the trading of one currency for another. Unlike stocks or futures, currency trading is an over-the-counter market with no central exchange.
Currencies typically trade in pairs such as the EUR/USD or USD/JPY. Currencies common to Forex tend to be the most liquid currencies such as the U.S. Dollar (USD), Japanese Yen (JPY), Euro (EUR), British Pound (GBP), Swiss Franc (CHF), Canadian Dollar (CAD), and Australian Dollar (AUD).
Margin is a term given to borrowed money (and associated accounts) used to purchase securities. When an investor buys stocks, bonds, futures contracts, currencies, or other equities with this borrowed money, she is said to do so "on margin".
Functionally, margin can be thought of as a simple loan from a broker to augment one's position in a security. This requires, however, that a certain minimum of the investor's own money be available either in the investment or simply inactively held in the account. This minimum amount is generally some percentage of the loan total issued by the brokerage and is called the "margin requirement" or "minimum margin requirement". If the value of the investor's stake in the security falls below the minimum margin requirement, the brokerage will typically issue a #Margin Call or, in some cases, automatically sell off the security to recoup or prevent further losses.
Though each exchange sets the limits for margin transactions, brokerages offer margin buying to their clients at varying rates beyond the brokerage mandated limits, though never in violation of them. For example, an exchange may have a minimum margin requirement of 25%, but a brokerage might instead impose a 30% minimum margin requirement on its clients.
The size of the initial loan made by a brokerage is some percentage of the original money the investor puts up and is called the "initial margin requirement" or "initial margin limit". Typically the maximum balance a broker will allow to remain outstanding with such a loan is 50%. The reasons why this is common practice have their roots in the Great Depression, as excessive amounts of land-speculative margin debt (typically around 90% of the total value of the speculated land) combined with manifold concurrent margin calls have been cited as major causes Black Friday in 1929 and consequently the Great Depression. As such, somewhat more conservative margin limits have been imposed to prevent a similar catastrophe from reoccurring.
Margin debt is usually incurred with either the hope or expectation that subsequent increases in the stock's value will cover the remainder of what is owed to the broker, thus eliminating the buyer's debt (and possibly creating a profit).
The Price to Book Ratio (alternately Price to Book, Price to Book Value, Price/Book, P/B, or P to B) is a financial metric used to compare a company's book value to the share price at which it is currently trading. It is generally calculated by dividing the share price by the book value per share, though it can also be calculated by dividing the company's market capitalization by the total book value listed on the balance sheet.
The Price to Book Ratio varies dramatically between industries. A company that requires more assets (e.g. a manufacturing company with factory space and machinery) will generally post a drastically lower price to book than a company whose earnings come from the provision of a service (e.g. a consulting firm).
Price to Book is often used to gauge a stock's relative value. A company trading at a low price to book, particularly when compared to other companies in its industry, is thought to be undervalued relative to its share price. However, a low price to book could also be an indication of negative forward looking investor confidence (e.g. poor earnings projections) or a disproportionate amount of Intangible assets on the books, depending on which version of the calculation is used (see below section on tangible vs intangible). As such, when used for security analysis, price to book is often coupled with metrics such as P/E, PEG, Return on Equity, and the Current Ratio to get a better snapshot of the company as a whole.
Unsecured Loans are loans that are not backed by collateral. This is in contrast to secured loans, wherein the borrower must pledge some asset (e.g. real estate, personal property, investment securities) to the lender should he default on the loan.
Unsecured loans are sometimes called "signature loans" because the bank has nothing but your signature. If the borrower goes into default they cannot posses any of your belongings; rather, they can report you to credit reporting companies and taint your credit.
Typically, unsecured loans are issued on the basis of the borrower's credit rating, though it should be noted that all loans lacking a collateral pledge (including informal loans between friends) are technically unsecured loans. For borrowers who don't have any collateral to pledge, these unsecured loans may seem attractive. However, since there is an increased risk for the bank, most of the times the interest rates are higher.
Commercial Paper is a notable unsecured loan.
6.30.2010
CIBC text message alerts
SMS Alerts
Receive CIBC Alerts via SMS (text message)
You now have the ability to receive some of our current CIBC Alerts via SMS (text message)*, including:
Postdated Bill Payment Success and Failure Alerts
These alerts notify you when a postdated or recurring bill payment is either successfully debited from your account or could not be debited from your account.
New Message Alerts
These alerts are triggered when CIBC replies to a message from you in the Message Centre.
All of these alerts are still available through your Message Centre and e-mail - we're just adding one more convenient way to keep on top of your banking.
As always, if you'd like to add or change your alert settings, you can do so quickly and easily while signed on to CIBC Online Banking.
Receive CIBC Alerts via SMS (text message)
You now have the ability to receive some of our current CIBC Alerts via SMS (text message)*, including:
Postdated Bill Payment Success and Failure Alerts
These alerts notify you when a postdated or recurring bill payment is either successfully debited from your account or could not be debited from your account.
New Message Alerts
These alerts are triggered when CIBC replies to a message from you in the Message Centre.
All of these alerts are still available through your Message Centre and e-mail - we're just adding one more convenient way to keep on top of your banking.
As always, if you'd like to add or change your alert settings, you can do so quickly and easily while signed on to CIBC Online Banking.
6.28.2010
Investor's Guide to the Economy: Part 1
Gary Rabbior is the president of the Canadian Foundation for Economic Education. This is the first of a six-part series on understanding how the economy works and why it matters to investors.
At one point in time, there were some general agreements on what should be the goals for the Canadian economy. These goals were put forth by the Economic Council of Canada and were, for the most part, widely supported. The Council has long since disappeared however and there has not been much talk of what the goals are – or could be – for the Canadian economy since.
So, in the absence of any widespread, generally accepted goals for what we should be trying to do with Canada’s economy, let’s offer a few up as possibilities. If our economy is managed well, if our money and monetary conditions are managed well, and if our financial system works well, we would probably like our economy to:
• create and provide good quality jobs for Canadians, enabling them to earn incomes for themselves and their families and achieve a desirable standard of living,
• use resources wisely to produce goods and services efficiently that our citizens need and want
• use resources wisely to produce goods and services that are globally competitive and enabling us to sell exports and help boost the well-being of both Canadians and those who buy our exports
• increase the output of goods and services produced over time enabling us to create additional wealth to improve the well-being of all Canadians
• allocate the wealth produced in Canada in a fair and equitable manner
• provide social programs as needed to increase the ability of Canadians to achieve financial security – and to help those unable to attend to their own needs,
• factor into our economic decisions the impact our activities will have on our environment and the long-term quality of life of Canadians
• manage our resources and environment so that their availability and condition are equal to, or superior than, today’s for future generations
• provide opportunities for all Canadians to achieve a standard of living and quality of life that is consistent with what we, as a society, regard is an acceptable minimum level of well-being But achieving these outcomes is not an easy task. What about the means by which we will try to achieve those ends? There are many factors that will influence whether or not we can achieve these goals. Two of the more important factors, however, will be our ability to:
• achieve relatively stable prices over time and thereby protect the purchasing power of our money, and
• live within our means and avoid a debt burden that hampers the current, and future, growth and development of our economy.
The second factor is a topic for another series of articles. But the first factor really relates to our current focus – money and its role in the economy – and how to best manage the “money” that supports economic activity in Canada.
The primary responsibility for managing the “money” part of our economy falls to the Bank of Canada. The Bank of Canada believes that relative price stability is an important “means” to our desired “ends” (currently the Bank has set an annual inflation target of 2 per cent).
Let’s look more closely at this goal of “stability” – price and otherwise - for our economy. As has been shown by recent times, it is not easy to keep the economy on a steady course – and it is also hard to get it back on course once it is off it. Certainly over the past year or so our economy has not been on a nice, smooth, steady growth path. We have been through extraordinarily turbulent times. This has posed a real challenge for policymakers – including the Bank of Canada as it undertakes its role to try to create the right monetary conditions for growth and stability in our economy.
THE “CYCLE” OF ECONOMIC ACTIVITY: THE GOAL OF STABILITY
Therefore, as one can conclude from the economic times of 2008 and 2009, a major challenge for policymakers is to try to keep an economy stable – producing goods and services, creating and sustaining jobs and incomes, etc. Ideally it would be great if we could maintain a smooth course for the economy enabling it to grow moderately and persistently over time.
Unfortunately, this does not describe the usual path for economies. Such a path would be extraordinarily difficult to achieve—though policymakers keep trying.
Most economies experience good and not-so-good economic times as they move through cycles. There are periods of expansion (higher output – more goods and services) and contraction (lower output). There are periods during which the rate of inflation has been relatively high and others when it is relatively low. There have been periods of high unemployment and periods of low unemployment. Ups and downs. Good times and not so good.
No one needs to be told what kind of path we have been on lately. Economic activity has declined, output has fallen, unemployment has risen, and there has been widespread hardship as the economy has gone through a significant downturn. In fact, this downturn had a sense of “crisis” to it as the entire global economy turned downward. Many policymakers, economists, financial leaders, and others grew very nervous as to how bad things might get. Actions taken throughout the world appear to have moved us past a point of “crisis” to a path of recovery. But the economic path we have been on has been anything but smooth.
Policymakers have long tried to find the key to establishing a smooth path for the economy and avoiding such periods of downturn and decline. Various theories and policies have been developed and attempted. To date, no one has found the magic formula that will enable an economy to grow in a stable and continuing fashion over time without periods of slowdown, contraction, and relatively high unemployment alternating with periods of increased growth and rising price inflation. A Nobel Prize in Economics probably awaits the individual who finds the key—if it actually exists.
WHAT IMPACT DOES MONEY HAVE ON THE ECONOMY?
There are a variety of factors that will affect our economy’s path. Some are within our control – and some are not. A major factor within our control are the “monetary conditions” we create in Canada which will influence the path our economy takes and, ultimately, our success in achieving our goals. If monetary conditions are managed effectively, our chances of achieving our goals will be significantly improved. If not, we can suffer some pretty significant consequences such as wide fluctuations in the level of prices and employment and the performance of the overall Canadian economy.
If we have “too much money” in the economy, this can fuel spending to the point where our economy has trouble keeping up and, as a result, we can get rising inflation and rising interest rates. Rising prices and interest rates can slow down the economy and stifle investment and growth.
If we have “too little money” in the economy, this may not support the level of spending that a healthy economy needs and the lower spending, lower profits, and rising unemployment can lead to possible deflation – where the average level of prices starts to fall. Deflation is probably a more serious problem than inflation since it can lead to more trouble as people hold off buying assuming prices will fall further.
So getting the “money part” of our economy right is very important. The better the decisions are in terms of creating the “right” monetary conditions, the smoother our economic path can be. The challenge of those decisions lies with the Bank of Canada and, in the next article, we will begin our exploration of the relationship between money, monetary conditions, and the economy with an analogy, a game we’ll call “Auction Block.”
At one point in time, there were some general agreements on what should be the goals for the Canadian economy. These goals were put forth by the Economic Council of Canada and were, for the most part, widely supported. The Council has long since disappeared however and there has not been much talk of what the goals are – or could be – for the Canadian economy since.
So, in the absence of any widespread, generally accepted goals for what we should be trying to do with Canada’s economy, let’s offer a few up as possibilities. If our economy is managed well, if our money and monetary conditions are managed well, and if our financial system works well, we would probably like our economy to:
• create and provide good quality jobs for Canadians, enabling them to earn incomes for themselves and their families and achieve a desirable standard of living,
• use resources wisely to produce goods and services efficiently that our citizens need and want
• use resources wisely to produce goods and services that are globally competitive and enabling us to sell exports and help boost the well-being of both Canadians and those who buy our exports
• increase the output of goods and services produced over time enabling us to create additional wealth to improve the well-being of all Canadians
• allocate the wealth produced in Canada in a fair and equitable manner
• provide social programs as needed to increase the ability of Canadians to achieve financial security – and to help those unable to attend to their own needs,
• factor into our economic decisions the impact our activities will have on our environment and the long-term quality of life of Canadians
• manage our resources and environment so that their availability and condition are equal to, or superior than, today’s for future generations
• provide opportunities for all Canadians to achieve a standard of living and quality of life that is consistent with what we, as a society, regard is an acceptable minimum level of well-being But achieving these outcomes is not an easy task. What about the means by which we will try to achieve those ends? There are many factors that will influence whether or not we can achieve these goals. Two of the more important factors, however, will be our ability to:
• achieve relatively stable prices over time and thereby protect the purchasing power of our money, and
• live within our means and avoid a debt burden that hampers the current, and future, growth and development of our economy.
The second factor is a topic for another series of articles. But the first factor really relates to our current focus – money and its role in the economy – and how to best manage the “money” that supports economic activity in Canada.
The primary responsibility for managing the “money” part of our economy falls to the Bank of Canada. The Bank of Canada believes that relative price stability is an important “means” to our desired “ends” (currently the Bank has set an annual inflation target of 2 per cent).
Let’s look more closely at this goal of “stability” – price and otherwise - for our economy. As has been shown by recent times, it is not easy to keep the economy on a steady course – and it is also hard to get it back on course once it is off it. Certainly over the past year or so our economy has not been on a nice, smooth, steady growth path. We have been through extraordinarily turbulent times. This has posed a real challenge for policymakers – including the Bank of Canada as it undertakes its role to try to create the right monetary conditions for growth and stability in our economy.
THE “CYCLE” OF ECONOMIC ACTIVITY: THE GOAL OF STABILITY
Therefore, as one can conclude from the economic times of 2008 and 2009, a major challenge for policymakers is to try to keep an economy stable – producing goods and services, creating and sustaining jobs and incomes, etc. Ideally it would be great if we could maintain a smooth course for the economy enabling it to grow moderately and persistently over time.
Unfortunately, this does not describe the usual path for economies. Such a path would be extraordinarily difficult to achieve—though policymakers keep trying.
Most economies experience good and not-so-good economic times as they move through cycles. There are periods of expansion (higher output – more goods and services) and contraction (lower output). There are periods during which the rate of inflation has been relatively high and others when it is relatively low. There have been periods of high unemployment and periods of low unemployment. Ups and downs. Good times and not so good.
No one needs to be told what kind of path we have been on lately. Economic activity has declined, output has fallen, unemployment has risen, and there has been widespread hardship as the economy has gone through a significant downturn. In fact, this downturn had a sense of “crisis” to it as the entire global economy turned downward. Many policymakers, economists, financial leaders, and others grew very nervous as to how bad things might get. Actions taken throughout the world appear to have moved us past a point of “crisis” to a path of recovery. But the economic path we have been on has been anything but smooth.
Policymakers have long tried to find the key to establishing a smooth path for the economy and avoiding such periods of downturn and decline. Various theories and policies have been developed and attempted. To date, no one has found the magic formula that will enable an economy to grow in a stable and continuing fashion over time without periods of slowdown, contraction, and relatively high unemployment alternating with periods of increased growth and rising price inflation. A Nobel Prize in Economics probably awaits the individual who finds the key—if it actually exists.
WHAT IMPACT DOES MONEY HAVE ON THE ECONOMY?
There are a variety of factors that will affect our economy’s path. Some are within our control – and some are not. A major factor within our control are the “monetary conditions” we create in Canada which will influence the path our economy takes and, ultimately, our success in achieving our goals. If monetary conditions are managed effectively, our chances of achieving our goals will be significantly improved. If not, we can suffer some pretty significant consequences such as wide fluctuations in the level of prices and employment and the performance of the overall Canadian economy.
If we have “too much money” in the economy, this can fuel spending to the point where our economy has trouble keeping up and, as a result, we can get rising inflation and rising interest rates. Rising prices and interest rates can slow down the economy and stifle investment and growth.
If we have “too little money” in the economy, this may not support the level of spending that a healthy economy needs and the lower spending, lower profits, and rising unemployment can lead to possible deflation – where the average level of prices starts to fall. Deflation is probably a more serious problem than inflation since it can lead to more trouble as people hold off buying assuming prices will fall further.
So getting the “money part” of our economy right is very important. The better the decisions are in terms of creating the “right” monetary conditions, the smoother our economic path can be. The challenge of those decisions lies with the Bank of Canada and, in the next article, we will begin our exploration of the relationship between money, monetary conditions, and the economy with an analogy, a game we’ll call “Auction Block.”
6.26.2010
Is that really your bank offering you a new credit card?
http://www.phonebusters.com/english/recognizeit.html
Identity Theft: Could it Happen to You?
Maybe you never opened that account, or ordered an additional card, but someone else did....someone who used your name and personal information to commit fraud. When an imposter co-opts your name, your Social Insurance Number (SIN), your credit card number, or some other piece of your personal information for their use - short when someone appropriates your personal information without your knowledge - it's a crime, pure and simple.
Are you a Victim?
The signs can be many, but typical indicators that your identity is being used include:
* A creditor informs you that an application for credit was received with your name and address, which you did not apply for.
* Telephone calls or letters state that you have been approved or denied by a creditor that you never applied to.
* You receive credit card statements or other bills in your name, which you did not apply for.
* You no longer receive credit card statements or you notice that not all of your mail is delivered.
* A collection agency informs you they are collecting for a defaulted account established with your identity and you never opened the account.
Identity Theft Statement - What is it?
If you have been a victim of identity theft, the Identity Theft Statement helps you notify financial institutions, credit card issuers and other companies that the identity theft occurred, tell them that you did not create the debt or charges, and give them information they need to begin an investigation. Make as many copies of the Statement as you will need to notify all affected companies. You will need Acrobat Reader to view the statement. Acrobat Reader download
To print a copy of the Identity Theft Statement click here.
It you suspect that your personal information has been hijacked and misappropriated to commit fraud or theft, take action immediately and keep a record of your conversations and correspondence. The following basic actions are appropriate in almost every case.
* Start a log of dates, person(s) that you spoke with and exactly what they said.
* Contact the fraud departments of each of the three major credit bureaus. Equifax: (866) 828-5961, for lost or stolen identification press 1, if you are a victim of identity theft press 2.
Trans Union: (800) 663-9980 except
Quebec residents (877) 713-3393.
* Request that a "Fraud Alert" be placed in your files. At the same time order copies of your credit reports.
* Contact the fraud department of creditors for any accounts that have been opened or tampered with fraudulently. This may include credit card companies, phone companies, banks and other lenders.
* File a report with your local Police or the Police in the community where the identity theft took place.
* Contact PhoneBusters National Call Centre. PhoneBusters is currently central sourcing all pertinent information on Identity Theft to identity trends and patterns, information is also used to assist law enforcement agencies in possible investigations.
Remember: There is no reason to be paranoid; there's just reason to be careful. If someone wants desperately to target you, they can probably get a lot of information about you -- so you just need to minimize the criminal's opportunities to get that information. You can make yourself a harder target and that the best defense. If you are a victim, do not panic, you will not be out any money. The losses will be attributed to the banks and or companies associated with the fraud.
Minimize The Risk
While you probably can't prevent identity theft entirely, you can minimize your risk. Identity theft is on the rise and it can happen to anyone. It can happen to you. By managing your personal information wisely, cautiously and with an awareness of the issue, you can help guard against identity theft.
* Tips on how to minimize your risk.
Identity Theft: Could it Happen to You?
Maybe you never opened that account, or ordered an additional card, but someone else did....someone who used your name and personal information to commit fraud. When an imposter co-opts your name, your Social Insurance Number (SIN), your credit card number, or some other piece of your personal information for their use - short when someone appropriates your personal information without your knowledge - it's a crime, pure and simple.
Are you a Victim?
The signs can be many, but typical indicators that your identity is being used include:
* A creditor informs you that an application for credit was received with your name and address, which you did not apply for.
* Telephone calls or letters state that you have been approved or denied by a creditor that you never applied to.
* You receive credit card statements or other bills in your name, which you did not apply for.
* You no longer receive credit card statements or you notice that not all of your mail is delivered.
* A collection agency informs you they are collecting for a defaulted account established with your identity and you never opened the account.
Identity Theft Statement - What is it?
If you have been a victim of identity theft, the Identity Theft Statement helps you notify financial institutions, credit card issuers and other companies that the identity theft occurred, tell them that you did not create the debt or charges, and give them information they need to begin an investigation. Make as many copies of the Statement as you will need to notify all affected companies. You will need Acrobat Reader to view the statement. Acrobat Reader download
To print a copy of the Identity Theft Statement click here.
It you suspect that your personal information has been hijacked and misappropriated to commit fraud or theft, take action immediately and keep a record of your conversations and correspondence. The following basic actions are appropriate in almost every case.
* Start a log of dates, person(s) that you spoke with and exactly what they said.
* Contact the fraud departments of each of the three major credit bureaus. Equifax: (866) 828-5961, for lost or stolen identification press 1, if you are a victim of identity theft press 2.
Trans Union: (800) 663-9980 except
Quebec residents (877) 713-3393.
* Request that a "Fraud Alert" be placed in your files. At the same time order copies of your credit reports.
* Contact the fraud department of creditors for any accounts that have been opened or tampered with fraudulently. This may include credit card companies, phone companies, banks and other lenders.
* File a report with your local Police or the Police in the community where the identity theft took place.
* Contact PhoneBusters National Call Centre. PhoneBusters is currently central sourcing all pertinent information on Identity Theft to identity trends and patterns, information is also used to assist law enforcement agencies in possible investigations.
Remember: There is no reason to be paranoid; there's just reason to be careful. If someone wants desperately to target you, they can probably get a lot of information about you -- so you just need to minimize the criminal's opportunities to get that information. You can make yourself a harder target and that the best defense. If you are a victim, do not panic, you will not be out any money. The losses will be attributed to the banks and or companies associated with the fraud.
Minimize The Risk
While you probably can't prevent identity theft entirely, you can minimize your risk. Identity theft is on the rise and it can happen to anyone. It can happen to you. By managing your personal information wisely, cautiously and with an awareness of the issue, you can help guard against identity theft.
* Tips on how to minimize your risk.
6.17.2010
Getting back to blogging about financial matters
Well I have still been investing but I just have not been taking the time to be blogging about any of my ventures. I'll know start to share my experiences again and strike up a dialogue with you about the trials and tribulations of investing in Canada.
We're going to start discussing:
* auto insurance quote
* college loan consolidation
car insurance quote
federal loan consolidation
online car insurance
term life insurance quote
cheap car insurance
student loan consolidation
auto insurance quotes
online insurance quotes
student loan information
equity loan rates
nj auto insurance
student loan consolidation center
debt consildation
chase credit cards
student loan refinancing
discount car insurance
life insurance quote
homeowners insurance quotes
mortgage loans
mortgage loans
mortgage refinancing
equity line of credit
college loans
best mortgage rates
student loans
loan refinancing
us mortgage rates
instant insurance quote
term life insurance quotes
consolidation loan
loan refinance
car insurances
safe auto insurance
insurance auto florida
auto insurance
equity line of credit
gmac mortgages
mortgages for self employed
car insurance california
in car insurance
best mortgage
refinancing mortgages
line of credit
prequalify loan
loans com
business credit report
whole life insurance quotes
new york auto insurance
online mortgages
student loan
cheap house insurance
low cost life insurance
school loan consolidation
citi credit
manhattan mortgages
school loans
term insurance
second mortgage
credit report com
auto ins
consolidation
line of credit
landlords insurance
low mortgage
commercial vehicle insurance
credit consolidation
bad credit mortgages
bad credit mortgages
discount life insurance
We're going to start discussing:
* auto insurance quote
* college loan consolidation
car insurance quote
federal loan consolidation
online car insurance
term life insurance quote
cheap car insurance
student loan consolidation
auto insurance quotes
online insurance quotes
student loan information
equity loan rates
nj auto insurance
student loan consolidation center
debt consildation
chase credit cards
student loan refinancing
discount car insurance
life insurance quote
homeowners insurance quotes
mortgage loans
mortgage loans
mortgage refinancing
equity line of credit
college loans
best mortgage rates
student loans
loan refinancing
us mortgage rates
instant insurance quote
term life insurance quotes
consolidation loan
loan refinance
car insurances
safe auto insurance
insurance auto florida
auto insurance
equity line of credit
gmac mortgages
mortgages for self employed
car insurance california
in car insurance
best mortgage
refinancing mortgages
line of credit
prequalify loan
loans com
business credit report
whole life insurance quotes
new york auto insurance
online mortgages
student loan
cheap house insurance
low cost life insurance
school loan consolidation
citi credit
manhattan mortgages
school loans
term insurance
second mortgage
credit report com
auto ins
consolidation
line of credit
landlords insurance
low mortgage
commercial vehicle insurance
credit consolidation
bad credit mortgages
bad credit mortgages
discount life insurance
8.23.2007
Customer Loyalty
When it comes to the exciting world of my money and the principles of personal finance I don't mind being called names. Take for example some of my favourites: stingy, cheap, crazy, and frugal. Bah humbug!
Let's talk about customer loyalty and how it can help you keep your hard earned cash in your wallet, or purse as it may be for you ladies in the crowd.
I for one have one main credit card that collects those wonderful Aeroplan points. Now if I buy gas then I get one Aeroplan mile for each dollar of gas. If I buy an item not normally related to being on a business trip and more of an everyday essential, such as at the drug store, grocery store, etc..then I now get 1.5 Aeroplan miles for every dollar. If I purchase a flight with Air Canada then I get Aeroplan miles for when I fly, and if I get the ticket online then I get even more. Plus let's not forget the fact that I'm also getting Aeroplan miles for using the credit card in the first place. I never use cash or debit cards. I put all of my expenses on my credit card and then I'm disciplined enough to pay it off each month in full. This strategy of customer loyalty to one credit card has earned me an iPod and at leat 8 free flights in North America over the last 5 years.
So now that I have my credit card attack planned out then my next customer loyal tip is for when you have to buy toiletries. I for one only shop at one drug store and I wait until they have 15-20 times the points. I would then go in the drug store, you guessed it, with my snazzy and jazzy credit card and then buy a months supply of goods. This gives me bonus points plus I'm still getting my Aeroplan points. This has allowed me to redeem my points for an iPod as a gift; pays for all my roadtrip materials such as snacks, sunscreen, sunglasses, etc...; DVDs; and of course razor blades!
Folks. The moral of the story is that with price guarantees at most stores and comparable prices then why not be committed to one or two stores and have them work in your favour. It could even end up being like Cheers...where everyone knows your name, but you don't want to be known as the greasy guy that continually walks into Shoppers Drug Mart buying condoms, lube, and pantyhose!
Let's talk about customer loyalty and how it can help you keep your hard earned cash in your wallet, or purse as it may be for you ladies in the crowd.
I for one have one main credit card that collects those wonderful Aeroplan points. Now if I buy gas then I get one Aeroplan mile for each dollar of gas. If I buy an item not normally related to being on a business trip and more of an everyday essential, such as at the drug store, grocery store, etc..then I now get 1.5 Aeroplan miles for every dollar. If I purchase a flight with Air Canada then I get Aeroplan miles for when I fly, and if I get the ticket online then I get even more. Plus let's not forget the fact that I'm also getting Aeroplan miles for using the credit card in the first place. I never use cash or debit cards. I put all of my expenses on my credit card and then I'm disciplined enough to pay it off each month in full. This strategy of customer loyalty to one credit card has earned me an iPod and at leat 8 free flights in North America over the last 5 years.
So now that I have my credit card attack planned out then my next customer loyal tip is for when you have to buy toiletries. I for one only shop at one drug store and I wait until they have 15-20 times the points. I would then go in the drug store, you guessed it, with my snazzy and jazzy credit card and then buy a months supply of goods. This gives me bonus points plus I'm still getting my Aeroplan points. This has allowed me to redeem my points for an iPod as a gift; pays for all my roadtrip materials such as snacks, sunscreen, sunglasses, etc...; DVDs; and of course razor blades!
Folks. The moral of the story is that with price guarantees at most stores and comparable prices then why not be committed to one or two stores and have them work in your favour. It could even end up being like Cheers...where everyone knows your name, but you don't want to be known as the greasy guy that continually walks into Shoppers Drug Mart buying condoms, lube, and pantyhose!
8.02.2007
Multiple Egg Baskets. What a dumb name!
Why did I choose that title? Simple. I don't claim to be a financial guru or a wizard with numbers, however I have learned a few simple rules of personal finance that have served me well so far. The first motto of personal finance being -- don't put your eggs all in one basket!
Case in point: Let me take you back to the year 1999. I was drafted into the technology sector on the promise of riches and travel. Everyone was talking about their large signing bonuses to this IT company or that IT company, and the goal was to get in on some tech stocks and set sail. Well, just like an old Batman TV show shown on CBC's Switchback, all that you heard was Bang-Zoom-Biff-Zap-Crash as the market dropped and everyone that invested all their savings in one stock suddenly started to weep.
If Aesop was alive today then we'd be reading a personal finance story about a little bull that put all of it's eggs in one basket and then lost them all to some bear or even some tax man. (Note: did you catch the animal symbolism??? Who needs Animal Farm)
I plan on using this blog to help you learn from my personal finance lessons learned while I strive to make the million before the age of 40. Here's how George from The Hour would break down my bio:
Name: (I'll leave that for later in case I get sued for some reason)
City: Ottawa, Ontario, Canada
Age: 31 (9 years 'til goal, if not sooner!)
Occupation: Federal Civil Servant
Education: Bachelor of Business Administration
Family: Common-law partner, and 1 child
Objective: expand personal level of wealth through diversification and passive income assets
For my initial personal finance entry I just wanted to introduce myself and set the stage. Here's what coming up:
* Learn as I go through the process of acquiring my first real estate investment property.
* What is an RRSP Mortgage?
* Realtors -- Can't live with them and do I really need them?
* What can the Ab Lounge, Magic Bullet, and Jessica Alba teach me?
* Real estate analysis. The 30 second calculation.
* Mortgage + Condo fees + Property Tax + Insurance + Backup Plan Fund = Rental Loss. Did I sign up for that?
* Plus lots more of solid gold material.....minus the solid gold dancers.
Case in point: Let me take you back to the year 1999. I was drafted into the technology sector on the promise of riches and travel. Everyone was talking about their large signing bonuses to this IT company or that IT company, and the goal was to get in on some tech stocks and set sail. Well, just like an old Batman TV show shown on CBC's Switchback, all that you heard was Bang-Zoom-Biff-Zap-Crash as the market dropped and everyone that invested all their savings in one stock suddenly started to weep.
If Aesop was alive today then we'd be reading a personal finance story about a little bull that put all of it's eggs in one basket and then lost them all to some bear or even some tax man. (Note: did you catch the animal symbolism??? Who needs Animal Farm)
I plan on using this blog to help you learn from my personal finance lessons learned while I strive to make the million before the age of 40. Here's how George from The Hour would break down my bio:
Name: (I'll leave that for later in case I get sued for some reason)
City: Ottawa, Ontario, Canada
Age: 31 (9 years 'til goal, if not sooner!)
Occupation: Federal Civil Servant
Education: Bachelor of Business Administration
Family: Common-law partner, and 1 child
Objective: expand personal level of wealth through diversification and passive income assets
For my initial personal finance entry I just wanted to introduce myself and set the stage. Here's what coming up:
* Learn as I go through the process of acquiring my first real estate investment property.
* What is an RRSP Mortgage?
* Realtors -- Can't live with them and do I really need them?
* What can the Ab Lounge, Magic Bullet, and Jessica Alba teach me?
* Real estate analysis. The 30 second calculation.
* Mortgage + Condo fees + Property Tax + Insurance + Backup Plan Fund = Rental Loss. Did I sign up for that?
* Plus lots more of solid gold material.....minus the solid gold dancers.
Subscribe to:
Posts (Atom)