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MikeVQ

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  1. I know this is an old thread but even having a safe could be relatively useless unless of course you have a real safe that's bolted to the floor. A lock box sitting in a closet will be the first thing they steal.
  2. Hah! I asked DW once why she needed so many shoes. She asked me why I needed so many tools. Apparently there are specific shoes for specific uses.... gotta have the right pair for the job. My wife doesn't go crazy with shoes, she's more into purses.
  3. If I'm interpreting this correctly I somewhat agree. I tell people that we live paycheck to paycheck but that's probably a tad misleading. We have money, but it all serves a purpose, we consider savings to be another expense that we're forced to pay. As long as the budget balances we're good. If we make more money, we tend to have a healthy balance of allocating some of that money to stuff that's fun and allocating some of it to savings/retirment.
  4. For me it's Vitamins/supplements. It tends to go through cycles where I'll strip my vitamin intake down to the bare essentials, but then over the course of months I'll start adding more stuff as I read up on it. I'm not one of those fanatics who has a cabinet FULL of vitamins, but on the other hand I'm also NOT one of those tin foil hat wearing folks who thinks ALL vitamins/supplements cause cancer.
  5. I know it might be a tad late but I would love to see this forum get some more traffic. Introduce yourself here. My name is Mike, I'm from Vancouver. I came here a couple of years ago as it was/is easily the most informative forum I've seen regarding credit AND money management. I encourage all of you to check out the money management forum as well. Some great info there. Welcome All!!
  6. IMO, secured cards should be a last resort, if you can obtain a regular (no fee) card from your bank, definitely go with that because you'll be able to establish a longer history with that account (granted you don't get into trouble).
  7. This is what we started doing a few years ago. The only people who get gifts in our family are the kids.
  8. I get paid every two weeks...MONTHS WITH 3 PAYCHECKS DOES NOTHING TO BENEFIT ME (like APRIL) That 3rd paycheck is NOT like found money...it just is going to be used to pay another bill (or bills) Most bills are monthly though. If you're normally paying monthly bills like rent, utilities, etc. on 2 paychecks per month for 10/12 months per year, I don't get how an extra pay check isn't like extra money?
  9. I'm a fan of having a liquid stash. But I'm sometimes prone to going overboard. I started with 3 months as a goal, then decided that 6 months would be better, then thought "might as well go for an 8 month stash," and am now working towards 10 months(about 1800 dollars away from that). I'm not too concerned about having this kind of habit, but I'll probably have to force myself to stop at 12 months and focus that money more on retirement or at least put it against my mortgage.
  10. One thing I do is I have a part of our liquid cash funds set aside for when mutual funds go down in price so that i can quickly pick up some more shares at a cheaper cost.
  11. Two jobs ago we had a guy who was notoriously bad with money. He was in dept up to his eyeballs. This guy was your typical "Can you spot me 20 until payday" guy. I recall one time going for lunch with him and he asked me if I could lend him 20 bucks for gas, so we go the gas station and he asks the guy for $5 worth of gas. WTF? So I'm thinking he's going to use the rest of the 20 bucks I gave him for lunch, but then we get there and he asks if I can spot him for lunch as well. So I ask him what he was planning on doing with the 15 he had left over from the first 20 I gave him, he tells me he owes the other guy back at work 15 bucks. LOL! I never lent him any money after that. A few months later, we all got un-expected bonuses directly from the owners of the company. This guy got something like 5K. So he decided he was going to blow it all on a suped up Home Theatre and sound system. I'm not sure exactly what his logic was, but he took out a 5k line of credit using his bonus as collateral instead of just paying for the stuff with cash. he told me something like he was trying to re-establish his credit rating. So his intent was to use the LOC and then pay it off with his bonus. Well, he ended up maxing out the LOC and then spending all of his bonus on stupid crap.
  12. You and I are cut from the same cloth when it comes to this. Going into 2010, the wife and I had 20k sitting in liquid funds earning 3%. I was like "to hell with this" and took 10k of it and put it into mutuals. The problem was, I slept a lot better at night knowing we had that full liquid 20k in the bank. So I changed my mind and took the 10k back out and put it back into liquid savings. Here in Canada, this particular account grows tax free anyways. Other than that, we keep it simple. I have non-retirement investments and tax sheltered mutual funds(contributed with pre-tax dollars).
  13. LOL! What a dumb article. There's absolutely no way in hell we could get by on 75% less and we're very frugal. Regarding education I don't have much to add to what's already been said, great points by both sides. But where I live, it's not so much education that counts but the whole "it's not what you know but who you know" adage. A friend of mine married a guy who's a police officer who's father is currently the lead commander of his detachment, he was able to get my friend a civilian job at one of their offices paying $80k per year plus bonuses and car allowance. Pretty good for someone who was making $25k per year managing a greeting card store. My brother got an admin job at a local retail chain paying 50K per year because he knows one of the district managers. He's not as qualified as many of the other potential job applicants, but his buddy trusts him so he got the job. My aunt got a data processing job for another retail chain's AP dept. because her sister used to work there and she put in a good word. This job pays 38K per year but my aunt is a 9th grade drop out.
  14. Reading through another thread from 2006 about him I guess I'm late to the party. I just see his books on the bestseller's shelf all the time. I thumbed through Rich Dad Poor Dad and thought it was pretty hokey. Some of his advice sounds illegal.

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