Friday, January 14, 2011
3 ways to save on your car insurance
Car insurance is mandatory for anyone who wants to legally drive on our roads and highways. Because car insurance is compulsory, most of us would love to find the cheapest car insurance policy possible without sacrificing essential coverage. Fortunately, with so many insurance providers competing for our business, there are ways that we can locate and purchase affordable car insurance. Below are 3 key ways to save on your car insurance:
1. Online Comparison: Today, the internet has become a vital tool to locating cheap products and services. When it comes to locating cheap auto insurance, consumers now have access to online search tools located on insurance sites that allow them to compare a number of car insurance policies from various insurance providers. It is an easy and fast way to receive several cheap insurance quotes. Consumers can then review each quote and the policy coverage and pick the best policy that fits their budget and coverage needs. You can save hundreds of dollars using this free search tool.
2. Cost-Cutting Measures: There are a number of things you can due to lower your insurance costs. For instance, if you pay a higher a deductible, you will pay a lower monthly premium. Sometimes you can get a discount if you pay the premium for the full year instead of monthly. You can also lower your costs by getting rid of unnecessary coverage such as collision coverage if you have a low valued car. As well, combining you car insurance policy with another policy such as your homeowners insurance policy will result in a discount.
3. Take Advantage of Discount Offers: Insurance providers will offer a number of discounts to secure your business. You can save on your car insurance by taking advantage of as many discount incentives as possible. You can get discounts for such features as: adding anti-theft devices and safety features, maintaining low-mileage, driving a fuel efficient vehicle such as a Hybrid, completing a driver safety program, maintaining a clean driving record, maintaining a good credit history, and more. As well, there are also age discounts and discounts for maintaining a certain school grade-point average.
Although you need car insurance to be able to legally drive, you do not have to pay high premiums. It is easy to locate and purchase cheap car insurance when you know all of the key ways to reducing your insurance costs.
Wednesday, January 12, 2011
been a while..
Wow, it really has been a long time since my last post on themoneygardener. I've been extremely busy looking after our two kids and getting our business off the ground. The market has been rolling right along pleasantly actually. Seems like unemployment and housing is taking very long to come back in the US, but I believe that it will be back and that's what the market is anticipating. I haven't made any trades lately, just collecting dividends and paying less attention to daily fluctuations.
Friday, November 5, 2010
utilities increasing dividends
Energy distributor, Inter Pipeline Fund (IPL.UN) and telecommunications firm Telus (T.A) have both hiked their dividends. Telus by 5% and Inter Pipeline by about 7%. These two companies are both considered utilities. It is very nice to receive every increasing cash dividends from these two stable firms.
Friday, October 22, 2010
free money from my online broker
I have used BMO InvestorLine to trade equities for about six years now. Over the time that I have held my account I have seen vast improvements in their site interface, research, and functionality. I would highly recommend InvestorLine to anyone considering opening a an investment account or switching from another broker.
If you open a minimum $10,000 account right now and use my referral code 978804481, you can receive $50 or even $100 bonus cash after you open your account!
If you open a minimum $10,000 account right now and use my referral code 978804481, you can receive $50 or even $100 bonus cash after you open your account!
Thursday, October 21, 2010
how rich people think
How Rich People Think is a 205 page book by Steve Siebold that I enjoyed very much. The book basically puts forth 100 ideas on how rich people (the World Class) differ from the middle class in their way of thinking and actions. For example:
Middle Class waits for their ship to come in...World Class builds their own ship.
Each of these comparisons are then explained in a one to two page summary after the comparision, making up a chapter. The book is nothing if not motivating, inspiring, and forces one to begin to think outside of the box that many of us find ourselves in while enduring the rat race. The ideas are based on a quarter century of interviews with millionaires. If you feel that you are stuck in a rut, and are looking for some motivation whether you want to take your career in another direction, start a business, grow your business, or simply make a large investment this book might help you get into the proper mind set to do so. You only live once so don't settle; strive for your dreams!
Friday, October 1, 2010
sold two names to raise cash
To raise some cash for a business venture I sold my entire stakes in the following stocks this week.
Saputo (SAP) - The Canadian Food producer had run up so far from my adjusted cost base that it seemed like an obvious choice to take a nice profit. The stock is now trading at a P/E of over 18x, which strikes me as a little rich.
Scotts Miracle Gro (SMG) - This stock never really fit into my dividend growth model and the stock has run up very nicely in recent months. The stock likely has more room to run however it seemed like an ideal time to take a profit and exit the name for the time being.
Posting on the moneygardener should pick up over the next little while as I realize I have been nowhere to be found lately.
Saputo (SAP) - The Canadian Food producer had run up so far from my adjusted cost base that it seemed like an obvious choice to take a nice profit. The stock is now trading at a P/E of over 18x, which strikes me as a little rich.
Scotts Miracle Gro (SMG) - This stock never really fit into my dividend growth model and the stock has run up very nicely in recent months. The stock likely has more room to run however it seemed like an ideal time to take a profit and exit the name for the time being.
Posting on the moneygardener should pick up over the next little while as I realize I have been nowhere to be found lately.
Monday, August 16, 2010
Leon's hikes dividend / Scotts doubles dividend
Canadian furniture and electronics retailer Leons (LNF) has raised it's dividend by 29% to $0.09 per share. The raise came on a nice earnings announcement where Leon's beat expectations quite handily growing their earnings per share 42% from last year.
US Lawn & Garden manufacturer Scotts Miracle Gro (SMG) doubled it's dividend on the back of a very solid earnings report. Scotts reported an earnings increase of 12.5% versus the same quarter last year. This news beat expectations and propelled the share price higher.
Owning both stocks, I've been having good luck with dividends lately...
US Lawn & Garden manufacturer Scotts Miracle Gro (SMG) doubled it's dividend on the back of a very solid earnings report. Scotts reported an earnings increase of 12.5% versus the same quarter last year. This news beat expectations and propelled the share price higher.
Owning both stocks, I've been having good luck with dividends lately...
Monday, August 9, 2010
The Instant Millionaire
Do the very wealthy think differently than the rest of us?
The Instant Millionaire by Mark Fisher is a fable which has been re-released in this new second edition by the New World Library. The book describes an amateur / mentor confrontation over a few days and conveys the lessons that the mentor teaches in an interesting way. The old wise millionaire mentor attempts to teach the young ambitious, yet naive amateur how to get into the mindset of a millionaire in training.
If you are looking for strategy on getting rich including specifics on wealth building, this book is not for you. This is one of those books that you will be tempted to read multiple times and I must admit that I plan to read it again. It is an easy read at about 120 pages, however the book will leave you thinking for days after you turn the last page. Several of the principles, habits and, life approaches that the mentor describes are thought provoking and had me wondering how I could adapt them in whole or in part in my own life. The book is nothing if not inspiring but yet it remains so abstract that it will leave most readers wanting more like a good movie with a short ending.
Overall I recommend this fable and it makes me want to read others like it including The Richest Man in Babylon and Think And Grow Rich.
The Instant Millionaire by Mark Fisher is a fable which has been re-released in this new second edition by the New World Library. The book describes an amateur / mentor confrontation over a few days and conveys the lessons that the mentor teaches in an interesting way. The old wise millionaire mentor attempts to teach the young ambitious, yet naive amateur how to get into the mindset of a millionaire in training.
If you are looking for strategy on getting rich including specifics on wealth building, this book is not for you. This is one of those books that you will be tempted to read multiple times and I must admit that I plan to read it again. It is an easy read at about 120 pages, however the book will leave you thinking for days after you turn the last page. Several of the principles, habits and, life approaches that the mentor describes are thought provoking and had me wondering how I could adapt them in whole or in part in my own life. The book is nothing if not inspiring but yet it remains so abstract that it will leave most readers wanting more like a good movie with a short ending.
Overall I recommend this fable and it makes me want to read others like it including The Richest Man in Babylon and Think And Grow Rich.
 |
| The Instant Millionaire by Mark Fisher |
Wednesday, August 4, 2010
Saputo grows dividend
Dairy and grocery products producer Saputo Inc. (SAP) has increased it's quarterly dividend by 10.3% to $0.16 per share. This increase came on the heels of a 32% increase in basic earnings per share for the quarter.
What I really like about Saputo is that their product lines represent products which are very resilient to consumer discretion but yet they seem intent on growth and are not afraid to make acquisitions to get there. Here is how my investment in Saputo looks at the moment:
Adjusted Cost Base (average cost) = $21.34 (2 purchases made)
Yield on Cost = 3.0%
Stock's Current Yield = 2.0%
Stock's Current Price = $31.30
Total Appreciation Including Dividends = +51%
What I really like about Saputo is that their product lines represent products which are very resilient to consumer discretion but yet they seem intent on growth and are not afraid to make acquisitions to get there. Here is how my investment in Saputo looks at the moment:
Adjusted Cost Base (average cost) = $21.34 (2 purchases made)
Yield on Cost = 3.0%
Stock's Current Yield = 2.0%
Stock's Current Price = $31.30
Total Appreciation Including Dividends = +51%
Monday, August 2, 2010
budgeting sustainably for real life
Drawing up a useful, sustainable monthly budget for your family does not have to be a complicated, or difficult exercise. The primary goal for putting a budget to paper in our case is saving money and living well within our means. This will enable us to save enough money so that we can maximize investment growth, capital stability, and be financially secure for years down the road. You can tailor your budget to serve as a tool for meeting your financial goals.
If you have some basic Microsoft Excel skills you can draw up a useful budget that can serve your tracking needs for years. I'm not referring to an advanced budget that they might teach you in an online MBA program; just a simple budget. First you should check your pay stub and your partner's pay stub to determine exactly what your net income is.
(I use the net amount that we bring home in employment income after RRSP contributions, taxes, etc. The reason that I do it this way is that our RRSP contributions are fixed and they are deducted automatically so that we never really see this money. I know what our RRSP contributions are and if I wanted to I could calculate these savings as extra to our budget later on. For now I just choose to exclude them and know that we are setting aside at least 10% of our income before we even get started here.)
This will be your INCOME section. Use your net employment income and any other income you receive along with any government child care benefits. Enter the monthly values in Excel and get to a total income number.
(I choose not to include investment income here because I save 100% of these funds and they get reinvested. I don't consider this as flexible, liquid funds such as employment income as the money really never leaves our portfolios)
Next you need to create your EXPENSES section. This involves categorizing and filling in all of your monthly expenses from mortgage payments to gym fees. Try to think of everything and try to be conservative for fuzzy ones. For some fixed costs such as property tax you will be able to enter an exact amount and for some categories such as entertainment you will need to ballpark what you spend in this area in an average month. Total up this area as well.
Then take your total from your INCOME section and subtract your EXPENSES section. Hopefully you get a positive value. Your will arrive at a figure which I call my "TOTAL NON-REGISTERED SAVINGS PER MONTH".
How To Use Your Budget
Creating your budget is only one third of the battle. How you are going to use it is the second piece of the puzzle. Instead of holding us to only spend $40 per month on haircuts I don't pay particular attention to these small details once they are part of my budget calculator. The way I use the budget tool is that I key in on our TOTAL NON-REGISTERED SAVINGS PER MONTH. This is our pass or fail mark. If this guide number is $1,000 and a month goes by where we saved only $500, I usually know why this has occurred. Could have been that the dishwasher needed replacing, or it perhaps we went on a small vacation. If I don't know why, I better re-visit the budget.
Obviously the third piece of the puzzle is actually matching your life to what you you have entered on this Excel calculator. If you are regularly spending $500 per month on clothes then don't enter $50 per month in your clothes category. You will certainly need your partner to be a team player throughout this entire process
I find this to be a pretty useful way to budget. You don't have to watch your nickels and dimes and track every penny. Just pay attention to how much money you are actually saving versus what your budget says that you should be and you will be well on your way to achieving your financial goals.
If you have some basic Microsoft Excel skills you can draw up a useful budget that can serve your tracking needs for years. I'm not referring to an advanced budget that they might teach you in an online MBA program; just a simple budget. First you should check your pay stub and your partner's pay stub to determine exactly what your net income is.
(I use the net amount that we bring home in employment income after RRSP contributions, taxes, etc. The reason that I do it this way is that our RRSP contributions are fixed and they are deducted automatically so that we never really see this money. I know what our RRSP contributions are and if I wanted to I could calculate these savings as extra to our budget later on. For now I just choose to exclude them and know that we are setting aside at least 10% of our income before we even get started here.)
This will be your INCOME section. Use your net employment income and any other income you receive along with any government child care benefits. Enter the monthly values in Excel and get to a total income number.
(I choose not to include investment income here because I save 100% of these funds and they get reinvested. I don't consider this as flexible, liquid funds such as employment income as the money really never leaves our portfolios)
Next you need to create your EXPENSES section. This involves categorizing and filling in all of your monthly expenses from mortgage payments to gym fees. Try to think of everything and try to be conservative for fuzzy ones. For some fixed costs such as property tax you will be able to enter an exact amount and for some categories such as entertainment you will need to ballpark what you spend in this area in an average month. Total up this area as well.
Then take your total from your INCOME section and subtract your EXPENSES section. Hopefully you get a positive value. Your will arrive at a figure which I call my "TOTAL NON-REGISTERED SAVINGS PER MONTH".
How To Use Your Budget
Creating your budget is only one third of the battle. How you are going to use it is the second piece of the puzzle. Instead of holding us to only spend $40 per month on haircuts I don't pay particular attention to these small details once they are part of my budget calculator. The way I use the budget tool is that I key in on our TOTAL NON-REGISTERED SAVINGS PER MONTH. This is our pass or fail mark. If this guide number is $1,000 and a month goes by where we saved only $500, I usually know why this has occurred. Could have been that the dishwasher needed replacing, or it perhaps we went on a small vacation. If I don't know why, I better re-visit the budget.
Obviously the third piece of the puzzle is actually matching your life to what you you have entered on this Excel calculator. If you are regularly spending $500 per month on clothes then don't enter $50 per month in your clothes category. You will certainly need your partner to be a team player throughout this entire process
I find this to be a pretty useful way to budget. You don't have to watch your nickels and dimes and track every penny. Just pay attention to how much money you are actually saving versus what your budget says that you should be and you will be well on your way to achieving your financial goals.
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