What a great week! On Tuesday, TF received over 200 hits which was a good day (though not record-setting). Then, yesterday, Rob Carrick shared my “Canadians are Money-Stupid” post in his “The Reader” column in the Globe and Mail. An incredible turn-out of over 3,000 visitors ensued. Beyond sheer quantity, I was extremely impressed by the …
Continue Reading...Archive for March, 2012
Credit Card Arbitrage
I saw an advertisement for the MBNA Platinum Plus® MasterCard the other day. The ad proudly proclaimed that their card offered a 0% interest rate. Naturally, I assumed there was a limit to this generosity. There’s always a catch. “Perhaps the 0% will end after six months,” I thought, “Or maybe there’s a huge annual fee.” (Before we …
Continue Reading...Book Review #2 – Money-Smart Kids
Yesterday, I used the words “Money-Stupid” in my blog title. Today, I’ve used the words “Money-Smart”. Specifically, it’s about the next generation. I’m very optimistic about our kids because (1) I will have a chance to influence that generation in a small way and (2) there’s really nowhere to go but up. Money-Smart Kids is a book …
Continue Reading...Are Canadians Money-Stupid?
The response to this article, in terms of comments and traffic, has been simply unbelievable. Thanks to Rob Carrick and the Globe and Mail for sharing this story. If you enjoy yourself here, then please subscribe to my RSS feed. Or, even easier, just subscribe via email by putting your email in the box that …
Continue Reading...Common Cents #3 – Gold Bugs
I strongly support the use of empirical facts and rational analysis in personal finance. In my irregular series “Common Cents” I address popular ideas about personal finance. I look at these issues through the scientific lens of corporate finance. In these posts, I have a particular desire to debunk destructive ideas that have gained traction. …
Continue Reading...Blog Party #6 – Milton Friedman
Before I launch into a literal rant, I wanted to share a comment I made on a blog yesterday. I love the website GetRichSlowly.org. The main blogger, J.D. Roth, is a straightforward, entertaining guy. I did, however, have a hearty laugh about his post on Wednesday. He wrote a quick essay that referenced a book …
Continue Reading...Steps to Personal Finance Success #1 – Build an Emergency Fund, Part 2
Yesterday, I introduced Step #1 towards Personal Finance Success: an emergency fund. Today we’ll talk about my thoughts on this critical topic. I maintain that an emergency fund in the amount of three months of living expenses is absolutely essential. It protects you from truly living paycheque-to-paycheque. It can be the difference between staying on track and going …
Continue Reading...Steps to Personal Finance Success #1 – Build an Emergency Fund, Part 1
In “Steps to Personal Finance Success” I’ll discuss the steps that I believe are vital to (surprise) success in personal finance. I am going to do them sequentially (though I have no idea how many there will be nor the regularity of the series). My goal is to assemble a primer on personal finance, of …
Continue Reading...Onion Rings are Frugal
Yesterday I followed up on my February Financial Resolution – to avoid eating out for the entire month. I discussed my shortcomings and successes. I mentioned that I have an undying love for onion rings from A&W. I caved to my cravings early in the month. I did, however, solve the problem so that I …
Continue Reading...February Financial Resolution – The Confession
Some of you may recall that at the beginning of February, I resolved to not eat out during the month. No coffee, no lunches; nothing. I also promised to follow up on my February Financial Resolution, regardless of my success or failure. Hey, it’s Lent after all. *Steps into Confessional Booth; closes the door* My …
Continue Reading...