By 2 Cents on February 1st, 2012 | Category: 20 Cents | So the first month of 2012 is behind us. Did you set any goals for the year? How are they coming along? There were some fantastic financial articles out there last month. Here’s a tiny sample:
1. Farnam Street posted an excerpt from a new study on Willpower & New Year’s Resolutions. Apparently, the key to keeping our resolutions is to make sure we don’t need to call on our willpower too often by minimizing temptations. That’s probably why automating your finances by paying yourself first works.
2. The World Economic Forum takes place in Davos, Switzerland each January. Umair Haque pointed out Ten Things You’re Not Allowed to Say at Davos. Enlightening.
3. Take a look at this interview with Danielle Park at Cambridge House in Vancouver. “Wise investors concerned about the real direction of [...]
Read on and enjoy … 20 Cents from January 2012
By 2 Cents on January 24th, 2012 | Category: Planning |  I’ve been using Quicken for over a decade to manage our personal finances, so when the folks at Intuit asked me to review Quicken Home and Business 2012, I was happy to do so. I’ll have a chance for one lucky Canadian to download a free copy of Quicken Home and Business 2012 (for Canadians) at the end of this review.
Quicken Home & Business vs. Cash Manager
There are a few different versions of Quicken personal finance software available. To be clear, the Home & Business edition I’m reviewing here offers a little more than the basic Quicken Cash Manager. You can compare the two at Intuit’s website, but the main difference is that you can track investments and business transactions in Home and Business, whereas Cash Manager just allows you to track spending, saving and budgeting.
Both are [...]
Read on and enjoy … Quicken Home and Business 2012 Review
By 2 Cents on January 13th, 2012 | Category: Spending | The following is a guest post. I’ll have my 2012 outlook up on Monday. Have a great weekend! ~ 2 Cents
Looking for a credit card can be difficult because there are so many different types of cards that offer their holders different advantages. Some credit cards have rewards for making purchases from certain stores, but others will offer people cash back when they spend a set amount of money with their cards. Finding the one that is perfect for them has gotten easier because of the credit card comparison sites that have begun to make their way to the Internet.
Credit Cards for People with Excellent Credit
The comparison sites cater to different types of people and cards. For example, some people are looking for a card that will give them a 0 percent interest rate, and these comparison sites will have several examples of credit [...]
Read on and enjoy … Use Price Comparison Sites to Get the Best Deal
By 2 Cents on January 6th, 2012 | Category: Saving | The following is a guest post with some good advice to kick off 2012. Enjoy!
The New Year is upon us, and for many, this time of the year signifies a time of new beginnings. People strive to better themselves by creating New Year’s resolutions, many of which are focused on health. While trying to be a better person in the new year is nothing to scoff at, there are a few New Year’s resolutions that are good for you both physically and mentally, as well as financially.
Losing Weight
Obesity is one of the greatest epidemics plaguing America today, making losing weight one of the most popular New Year’s resolutions this year. However, losing weight isn’t just ideal for your health, it is also highly beneficial to your wallet. In addition to saving money with reduced eating out and grocery bills, losing weight will also [...]
Read on and enjoy … 5 New Year’s Resolutions that are Good for Your Wallet
By 2 Cents on November 21st, 2011 | Category: Life Balance |  We’re not talking about mere balance here . . . A visionary company doesn’t simply balance between idealism and profitability; it seeks to be highly idealistic and highly profitable . . . a highly visionary company doesn’t want to blend yin and yang into a gray, indistinguishable circle that is neither highly yin nor highly yang; it aims to be . . . both at the same time, all the time.
~ James Collins & Jerry Porras, Built to Last
The English proverb tells us that we can’t have our cake and eat it too. I’ve often struggled to understand exactly what that means. I guess it’s supposed to imply that we can’t have it both ways. How can we preserve something of value if we continue to consume it?
Today’s quote comes from a book I’ve been reading on visionary companies: the ones that stand the test [...]
Read on and enjoy … Why Can’t We Have Our Cake and Eat It Too?
By 2 Cents on November 15th, 2011 | Category: Saving |  Simplicity is the ultimate sophistication.
~Leonardo DaVinci
When the Tax Free Savings Account was introduced in Canada in 2009, it was hailed for its practicality and simplicity. Any Canadian 18 years or older can now contribute up to $5000 per year to a TFSA and have those savings grow completely tax free. While TFSA contributions are not tax deductible, you will not have to pay any tax on the money you withdraw from your TFSA.
You can put just about any type of investment in your TFSA, or choose a number of different TFSA accounts for different purposes. You could simply have a TFSA savings account, or you could open a TFSA brokerage account whereby you could include stocks, bonds, ETFs or just about any other type of investment vehicle. Whether you earn interest, dividends or capital gains on your savings, your money can be withdrawn tax free. [...]
Read on and enjoy … TFSA Contribution Limit for 2012
By 2 Cents on October 7th, 2011 | Category: Planning |  No one knows what they’ll do in a moment of crisis and hypothetical questions get hypothetical answers.
~Joan Baez
When I wrote Another Bear Market: Is It Time to Buy? earlier this week, I tried to summarize the current bull and bear points of view. I also promised to write about how we’re approaching the current market volatility. As I mentioned, I think everyone can and should have a unique response – including the possibility of having none at all – to the market’s gyrations. Our response, therefore, should not be taken as advice on what anyone else should do. It’s based on our personal situation and if that was different, my strategy would be different too.
Background
For those who aren’t regular readers, I’ll just give a quick bit of background on where we’re at financially [...]
Read on and enjoy … Personal Finance in a Secular Bear Market
By 2 Cents on October 3rd, 2011 | Category: 20 Cents |  This month it was truly difficult to pick only 10 articles to include. I almost had to up the ante to 30 cents! But my goal with these monthly collections is to keep them succinct so readers aren’t overwhelmed with information. Suffice it to say that some really great pieces were left on the proverbial cutting room floor. I hope you are enjoying the beautiful fall weather and I hope you enjoy these articles as much as I did!
1. If You Have Only a Little Money, Should You Invest It? Shelley White from the Globe and Mailed posed the question to Danielle Park and Bruce Sellery. Ms. Park recommended paying down debt first and staying on the sidelines in terms of equities. “[I]n her opinion, you would be better off parking your money in GICs rather than diving into stocks or bonds [...]
Read on and enjoy … 20 Cents from September 2011
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