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 MoreSaving Strategy: Quit Smoking
We all know that smoking is an expensive habit, costly to both your health and your hard-earned savings. At $10+ per package of cigarettes in Canada (or at least British Columbia), smoking can be a very expensive, yet extremely difficult habit to kick. In British Columbia, 15% of the population smokes despite it being the…
Read More5 Lessons Learned as a First Time Home Buyer
This is a post by Sean Cooper With my property virginity finally gone, it’s the perfect time to reflect on the most important lessons I learned as a first time home buyer. Home ownership is a major milestone in your life, but there’s a lot of hard work along the way. Here are some lessons…
Read MoreNew Car Thinking, Dividend Stocks, Lending Money to Friends and More!
The old “don’t buy a new car” thinking@ Canadian Money Forum Credit Card Arbitrage – How Does it Work? @ One Year Ago in the Archives How many dividend stocks are enough? @ My Own Advisor Should You Lend Money to Friends and Family? @ My Dollar Plan Are You Counting On An Inheritance? @…
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…
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