can a cash advance loan be paid back quickly?

A cash advance loan - money you borrow from a payday loan provider, based on your next paycheck - can be either a very useful or potentially destructive tool. Millions of people who work hard at their jobs use cash advances in order to cover unplanned, emergency costs that exceed their current checking account balances. Done right, a cash advance can be a lifesaver.

So where can a cash advance loan be a bad idea? Simply, if the borrower fails to pay it back quickly. These are designed for emergencies, and once the emergency is past the loan should be paid off. There are three ways in which the borrower can make sure they effectively pay off the cash advance in a timely fashion:

If you budget for reducing costs in the next month. In other words, you are getting the money you would use two or three weeks from now. That means you have to reduce your expenses then. Ask yourself, what expenses can be cut out next week and next month?

If your loan amount is manageable within your payscale. Your cash loan should be an amount that is reasonably within your ability to repay it. Most lenders restrict the loan to an amount less than what one paycheck would be, so in effect this is done for you. For good reason.

If you reduce expenses by a commensurate amount. One cash advance loan is not going to solve all current and future economic challenges. If you run consistently behind in expenses relative to your payscale, there is but one solution: cut back. (You could also get a second job, but in the current economic conditions that may not be an option.)

So if you decide to proceed with getting a cash advance loan - which may be the most responsible thing you could do - you are wise to plan a quick payoff. It will reduce the overall costs of the loan in fees, interest and penalties.

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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.

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. 

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. 

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! 

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!

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.

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...

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

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%