Archive for August 2012
Net Worth Update August 2012 (+1.53%) – End of the Summer Rally?
Welcome to the Million Dollar Journey August 2012 Net Worth Update. For those of you new to Million Dollar Journey, a monthly net worth update is typically posted near the end of the month (or beginning of the next) to track the progress of my journey to one million in net worth, hopefully by the time…
Read MoreLearn How to Haggle in 6 Easy Steps
When you’re buying big ticket items in-store or negotiating prices for various services, it never hurts to try and haggle. But there are some general guidelines which you should follow to increase your chances of bagging a super bargain. Here’s a quick breakdown of the tips you should keep in mind for successful haggling: 1.…
Read MoreCredit Card Arbitrage I – How Does it Work?
This is an article I first wrote back in 2007, but reposted due to changes in the financial landscape. You can now use this strategy with the TFSA to avoid paying any tax on the interest earned. Credit card arbitrage seems to be a popular strategy to make a few bucks in the personal finance…
Read More30 Year Mortgages Are Better Than You Think
This is a post by Sean Cooper. Mortgages have been a hot-button issue as of late. Finance Minister Jim Flaherty recently reduced the maximum mortgage amortization for high ratio mortgages from 30 years to 25 years (it still remains at 30 years for conventional mortgages). He preached the benefits of a shorter amortization: “(The change)…
Read MoreSmith Manoeuvre Portfolio – August 2012
For those of you just joining us, below is my portfolio that is leveraged with money borrowed from my home equity line of credit (HELOC). As the money borrowed is used to invest, the interest charged is tax deductible. I write an update every so often to show new positions added along with any market…
Read MoreHow to Write a Business Plan
Before starting any business, the potential owner can benefit a great deal by writing a business plan. If third-party financing is required for such a venture, then it may become essential to offer a plan including, but not limited to, the business idea, its goods or services, budget, source of funding, market potential, and marketing…
Read MoreReader Mail: ETFs vs No Load Mutual Funds and Starting a Financial Journey
It’s been a while since I’ve responded to reader mail through a blog post, but I thought this had some great questions that come up often. This particular reader has questions regarding ETFs vs no load mutual funds, and where to start on his financial journey. 1) Is it true that ETFs and no-load mutual…
Read MoreThe Cost of Canadian Ivy League Schools
A few weeks ago, we took a look at the costs of the American Ivy league schools and concluded that it would likely cost upwards of $200,000 for an undergraduate degree at these prestigious American schools. This naturally led me to wonder how much does it cost to attend Canadian Ivy league schools? Here is…
Read More