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-- Can we talk about people who live beyond their means?
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quote:

Originally posted by Omega_Blue though i totally agree, eating healthy *is* more expensive.

It boggles the mind... same here in South America (in Brazil, at least).

I remember when buying Pringles was a once-a-year thing...

Definitely agree about hoarding money. I don't get that either. Why save money if you can't enjoy it? I guess for some people simply having a large amount of money stockpiled away somewhere IS enjoying it?

Hoardor!??!

the trick is to enjoy the interest you make from the money you hoard.

Use money to make more money and live off that.

I know a girl who is constantly going on vacation to places like Mexico and Cali because she has a loaded guy friend who's desperate to get into her pants and a filthy rich step brother.

It annoys the hell out of me.

quote:

Originally posted by Omega_Blue i'm sayin if you're buying soda, cookies, chips, i mean each one those items i mentioned is roughly 5 bucks (24 pack, typical package of good cookies, 1 big bag of ruffles or whatever). that's basically eaten up half of 30 bucks with 3 items. though i totally agree, eating healthy *is* more expensive. fresh veggies and quality meats are fuckin painfully expensive for the college kid on a budget. hence why most of them eat hot pockets and bagel bites. and pizza rolls. basically any variation of pizza.

i feel they should subsidize healthy food. Eating well should not be a privilege when your country is spending say what the US is spending on their military. The junk food ends up costing society more when all those fat assholes get sick.

quote:

Originally posted by Nrg2Nfinit the trick is to enjoy the interest you make from the money you hoard. Use money to make more money and live off that.

I agree with that approach.

Some people may be content living off of wages and being dependent upon employment for financial security, but I could never be satisfied with that lifestyle. I value my time and my freedom far more than I value the things that I could otherwise buy with that money.

And another thing is the maintenance of high value assets.

With the incredibly high tax rates in Canada, it's not enough to just work for your money, but you need to "hoard it" and make it work for you. For the very wealthy, i'm sure investments usually make the bulk of their wealth and one should always try to take advantage of capital gains taxes which cut your marginal rates in half.

who needs money! god gave rock n roll to you!

I am Bill S preston...Esquire!
and I am Ted Theodre Logan!
and we are the wyld stallynsss!!!!!

Now Now!

don't make this a thread about God.

quote:

Originally posted by Nrg2Nfinit And another thing is the maintenance of high value assets. With the incredibly high tax rates in Canada, it's not enough to just work for your money, but you need to "hoard it" and make it work for you. For the very wealthy, i'm sure investments usually make the bulk of their wealth and one should always try to take advantage of capital gains taxes which cut your marginal rates in half.

What would you suggest to an amateur (like me), as a good place to start putting their money? I know fuck all about investing and will be looking to put 1 to 2 grand towards something that will yield more than my TFSA every month.

quote:

Originally posted by Miss Pie What would you suggest to an amateur (like me), as a good place to start putting their money? I know fuck all about investing and will be looking to put 1 to 2 grand towards something that will yield more than my TFSA every month.

Risk = reward. If i was in your position i would look into dabbing into mutual funds where you contribute to the fund on a monthly or semi annual basis. So a less volatile medium to low risk would be what you would look for which can pay out decent and not have so much risk attached to it.

Do this all in your TFSA account to avoid any taxes on gains.


You can talk to your bank about mutual funds. Make sure they pay out dividends so at least you get paid for holding your money in there.

The point of contributing monthly or semi annually (lets say 100 a month, or 500 every 6 months) is that if the price drops you can get a better price average.


The point of a TFSA is to invest in something that gives you a return so you don't pay taxes. If you are unsure of what to invest in now, i would suggest increasing your RRSPs as this will at least give you a tax break (as i believe from what you state that your a higher income tier earner).

Long story short, talk to your bank about contributing monthly or semi- annually into a medium to low risk mutual fund that pays out dividends.

If you want to get a bit fancier, take the dividend payouts from the first mutual fund and invest them in a riskier mutual fund.

Awesome, thanks dude. I actually used to have mutual funds years ago when I also put money away in a GIC. I ended up blowing all that money though, lol. And actually...the return I made on the GIC I used to pay off a loan, and then I reinvested the principle. Annnnd I think I blew all that money too.

I will def do this though. Should prolly do some of my owb research too I guess.

quote:

Originally posted by Miss Pie Awesome, thanks dude. I actually used to have mutual funds years ago when I also put money away in a GIC. I ended up blowing all that money though, lol. And actually...the return I made on the GIC I used to pay off a loan, and then I reinvested the principle. Annnnd I think I blew all that money too. I will def do this though. Should prolly do some of my owb research too I guess.

yeah don't make any decisions at the bank immediatley

just ask them for a booklet on teh different type of mutual funds, what they are invested in and make sure there are little to no comissions involved (no-load)

then on your next visit pick one.

I don't suggest GICs or bonds now as the rate of return is fixed now for the life of your investment and the rate is too low.

a general rule of thumb (although might not always be the case) is if mortgage rates are high - go to bonds and gics

if mortgage rates are very low - go to stock market investments or mutual funds. Our current situation is the latter.

Cool. Good to know. I'm pretty much looking for a relatively uncomplicated way to yeild some decent returns. Not trying to be a millionaire, but wouldn't mind a few pretty extra dollars. Bang for my buck and all that.

quote:

Originally posted by Omega_Blue though i totally agree, eating healthy *is* more expensive. fresh veggies and quality meats are fuckin painfully expensive for the college kid on a budget. hence why most of them eat hot pockets and bagel bites. and pizza rolls. basically any variation of pizza.

Eating fresh fruits and vegetables and fresh meat might be a little bit more expensive than eating shitty boxed foods but wouldn't you rather eat actual food? In my opinion the biggest hurdle people have with buying fresh ingredients is that they are either too lazy to put them together into a meal or too lazy to figure out how to. I would know because I used to be that person. Now I won't touch anything that is boxed or pre-processed. Even eating sandwich meats is a stretch for me. The extra few dollars a week you might spend will be well worth it, trust me.

It isn't that much more money to eat fresh...the difference in price is negligible imo. When you learn how to eat clean, you actually eat less...it all balances out in the end. I really don't know how people can eat processed shit - how they aren't aware of the way it makes them feel crappy. So many people I work with eat such terrible food, the same people who always complain about being tired all the time, who are always sick, always stressed out....bad skin, bad hair, can't understand why they can't maintain a healthy weight. Truly boggles the mind. You are what you eat!!

I also don't buy the "college kid on a budget" excuse either. The thing with college kids, and I totally understand, is that fresh food/healthy living isn't a priority for them. 20 somethings don't give a shit about that - they want beer, sex, and parties. Which is fine...there's no better time to get away with polluting your body than in your 20s while it's still resilient. But don't fuckin say you can't afford to eat well because you're a college student. Just admit you'd rather blow your money on fun stuff. Jeez.

For about 6 dollars i can get 2 big bags full of veg and fruit that last the week. China is fucked up like that. Meat is pricey, so they are all underfed. I wear a top hat and eat more meat than ever. *kick to chest*.

Up until now, I've been horrible with money. A lot of great times, but nothing much to show for it beside stories to tell and pictures to show. I got $10,000 in South Korea for a signing bonus and spent $3,000 on a trip to Busan for Labor Day weekend. Instead of putting the rest of that money away, I spent it on electronics and going out every night throughout the year I was there. I literally have nothing to show for that $10,000.

When I was discharged from the military I accrued a lot of debt because I couldn't find a job right away to make payments on some of the stuff I was paying for (car loan, credit card). That's pretty much the time where my credit plummeted and I've been slowly recovering ever since. I literally have nothing in my possession that I bought when I was in the military.

Through college I used my student loans for school, living expenses and again, going out and taking vacations all over the place. Now that it's all said and done, though, I look forward to paying them off. It's been about five years since my military debts were reported to the agencies, which means I have another two before everything is completely cleared (some already have). I think having these student loans will be great, too. I've already put together a strict budget and am fully focused on living below my means for the next few years in order to pay them off quickly. That should help my credit score a lot.

I also got a secured credit card about a year and a half ago to help build my credit back up, and it's helped more than I thought it would. My score has jumped up quite a bit.

So yea, I've been a complete moron when it comes to money. You'd think being "broke" would help you when you get some because you know how to live without it, but then once you get it you want to spend it on the things you were never able to get before. It took time, but I feel like I'm on the right track and in a good position to fix a financial fuck up from my past. Once I pay these student loans, I'll be golden.

Oh, and also, I've already assured my girlfriend that she will be handling our finances for the most part. Not only does this give her reassurance as to where the money is going, but fuck me if I haven't noticed that women (at least the ones I'm in contact with) can be so much better with it than guys.

I call bullshit on the 10 000$ signing bonus.

Nope.

Most money I've ever had at one time, and I was 19 and in South Korea.

What did they really expect me to do with it?

never mind. i thought you meant as a teacher.

quote:

Originally posted by Miss Pie It isn't that much more money to eat fresh...the difference in price is negligible imo. When you learn how to eat clean, you actually eat less...it all balances out in the end. I really don't know how people can eat processed shit - how they aren't aware of the way it makes them feel crappy. So many people I work with eat such terrible food, the same people who always complain about being tired all the time, who are always sick, always stressed out....bad skin, bad hair, can't understand why they can't maintain a healthy weight. Truly boggles the mind. You are what you eat!!

I find the opposite to this. When i eat a healthy breakfast before work i will be hungry again in a couple hours versus a timmies or mcdicks breakfast sandwich which for some reason keeps me full until lunch
I always assumed i had more calories to burn with the junk so i am satisfied longer

granted my work has low level of physical labour

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