Archive for the 'Financial Planning' Category

Death is a Wake-Up Call

Friday, June 24th, 2005

Yesterday I was working away when I got a call from my mother: my maternal grandmother lay dying in the ICU of the local hospital and if I hurried I could say my goodbyes. It was a lowsy accent on a lowsy week that included getting a nasty case of food poisoning.
So what does that [...]

How Much Life Insurance do you Need?

Tuesday, June 21st, 2005

There is an excellent post over at All Things Financial that answers the question of how much life insurance you need.
The post is great and easy to follow and has me re-thinking the amount I am currently insured for.
Check it Out!

Quicken’s Debt Reduction Planner

Tuesday, June 14th, 2005

I’m sure you all have read my post on The Ultimate Credit Card Repayment Program and my post on Ordering Debts
for Repayment, and then found yourself saying ‘That’s great Mike, but what I really need is a nice tool with fancy graphs that lets me enter in all my debts and have it automatically [...]

Less Than the Cost of a Cup of Coffee a Day

Wednesday, June 8th, 2005

I don’t know about you, but I hear this so much it is becoming a cliche. You turn on the TV and someone is asking you to support a charity or village in Africa, talking about how it is ‘less the the cost of a cup of coffee a day’. Heck, according to Craigslist you [...]

Stealing From Your Future Self

Friday, May 27th, 2005

Over at It’s Your Money, there is a great post responding to advice from Suze Orman regarding the use of credit cards by the young. Suze’s advice:
My credit card strategy is solely for expenses that you need to live on — and not expenses that finance your living the high life. The only YF&Bers who [...]

The Tax Man Cometh

Wednesday, May 18th, 2005

I an what you would call quasi-self-employed; I work for a foreign company under contract. As such I get a consistent wire transfer every month, I get vacation days, and I go to staff meetings. Because the company has no Canadian presence, I am not an employee in the traditional sense, and can be considered [...]

To Potential Creditors, you *are* Just a Number

Tuesday, May 17th, 2005

No matter what feel-good commercials want you to believe, you are (usually) just a number to your potential creditors.
The number in question is called your FICO score, and it controls your financial life in ways you cannot imagine.
From Wikipedia:
A credit score is a numerical index which represents an estimate of an individual’s financial creditworthiness. It [...]

The Ultimate Credit Card Payment Program

Thursday, May 5th, 2005

Update: While the principles presented in this post are sound, the payoff order described it slightly flawed. Please read my followup post/mea culpa before applying the principles here.
Get out your pen and paper, because I am about to share with you the ULTIMATE CREDIT CARD REPAYMENT PROGRAM! That’s right, the ULTIMATE CREDIT CARD REPAYMENT PROGRAM!!

See, [...]

Interesting Investing Advice

Wednesday, April 27th, 2005

Not very sound investment advice, but it made me smirk:

If you had bought $1000.00 worth of Nortel stock one year ago, it would now be worth $49.00.
With Enron, you would have $16.50 of the original $1,000.00.
With WorldCom, you would have less than $5.00 left.
If you had bought $1,000.00 worth of Coors Light (the beer, not [...]

Book Review - The Automatic Millionaire

Tuesday, April 26th, 2005

Last weekend I found myself in an airport shop in Salt Lake City, halfway home from San Jose with a 2 hour flight ahead of me. I had learned from the previous leg of the trip that the plane I would be flying on featured so little room that using my laptop was out of [...]