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A couple I know recently welcomed their first child. The husband, an engineer by profession, was the sole breadwinner. He lost his job in this economic downturn and has been unemployed for the last few months. So? There are probably hundreds of thousands of people in a similar situation i.e., single income families, with a baby to boot, searching for light at the end of the tunnel. Yes but not many would have the small matter of a 350K+ mortgage and car payment on a shiny new Honda toy to take care of! I do not know about other debts they carry. The wife is in no position to work (with a baby to look after) and the husband is on the lookout for a job in his field, while taking heart from the fact that he has a job in customer service at the local supermarket (no offense to customer service people – I’m just highlighting the fact that he has taken a severe pay cut). Forget about emergency funds; they may or may not have had one. They will ride it out and things may hopefully be rosy again. What irks me most is the fact that couples (single and dual income) stretch every dollar to lead a great life in the eyes of their neighbours. No, I’m not going to rant about people who keep up with the Smiths and Joneses. But, would it not be better to wait a couple of years before jumping into such expensive mortgage commitments? Would it hurt to drive a late model car for a few years and then go for a new one, once the wife gets to work again? Obviously, it is easy for me to go on a spiel with the benefit of hindsight. The talk of emergency funds, living within your means, etc. seems to have spread like wild fire, thanks to the efforts of personal finance blogs and TV and radio shows. When the economy gets back up on its feet (yes, the stock market is running a 100-metre dash but the economy is picking up at a slower pace), however long that may take, people would do well to remember the lessons learned during the time of doldrums. As raging as the next bull market may get and as low as the unemployment rate may go, the basics still shouldn’t change. Building up an emergency fund, delaying gratification, staying out of credit card debt, making wise investment choices by keeping expenses low, etc. are time-tested methods. There is enough material available about these topics on the web that one can feed off for free! Change is permanent but greed and gullibility seem to be constants too. I hope people don’t treat these experiences as some chapter from a school chemistry textbook that holds no value to the majority of the population in their post-school life. Will I be made to eat crow in a decade or so, when the economy is doing well and people are still living great lives by avoiding consumer debt, pursuing passion, etc.? I’d gladly do so but that’s going to happen only if people start to fear unnecessary debt (the nonmortgage, non-educational kind) and resist living to please the world! Clark is a twenty-something Saskatchewan resident employed in the manufacturing sector. He repaid around $20,000 in student loans and has been working to build his investment portfolio as a DIY investor (not trader) while nurturing plans to retire early. He loves reading (and using the lessons learned) about personal finance, technology and minimalism, when the mood strikes – which happens everyday! Popular Posts: The Smith Manoeuvre – A Wealth Strategy – I The Smith Manoeuvre – A Wealth Strategy – II Canadian Discount Brokerage Comparison Top Cash Back Credit Cards in Canada Child Care Tax Credits Are Hybrid Vehicles Worth it? Tax Free Savings Account (TFSA) Copyright 2010 MillionDollarJourney – All Rights Reserved

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Life’s Lessons Are Not School Chemistry Chapters

Should you need to begin an online company, the right place to begin, is actually the online world. You are able to discover every thing you’ll need to prepare. See the original post here:  Begin An Internet Home Business Discover How Easy It Can Be | Earn …

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Begin An Internet Home Business Discover How Easy It Can Be | Earn …

Have you been promising yourself to start a home based business for ages, but can never quite get around to it? Yes I know its all too easy. Read the original here:  So You Want To Start A Home Based Business Online? | 24/7 Online …

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So You Want To Start A Home Based Business Online? | 24/7 Online …

Make money online fast and easy. Make Money Online from home for FREE. yes, that’s right, you won’t pay anything or purchase useless stuffs. Absolutely FREE NO fees! Make Money Online using you computer today. This is the best money … Original post: Make Money Online for FREE Earn Fast Money from the Internet Work …

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Make Money Online for FREE Earn Fast Money from the Internet Work …

There are opportunities you can grab that allow you to work from your own home. Women should pay special attention to these opportunities. There are some excellent online offers which will allow you easy ways to make money online free. See more here:  The Perfect Guide to Make Money Starting an Online Business …

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The Perfect Guide to Make Money Starting an Online Business …

I t’s not your neighbor who once gave you awful advice on a hot stock tip (you’re no longer on speaking terms, unless you need to borrow a power tool). It’s not one of those “market pros” you read about on CNBC who seemed so sure about this one stock that he called it a no-brainer (you bought the stock and this no-brainer has gone no-where but down). It’s not the market which always seems to be sizzling until you jump on the bandwagon and then it just crashes (must be some kind of bad luck). It’s not your parents who tried to teach you to save money; instead, you spent all your money partying in your college days (now, you barely have any money to invest). Nope, don’t look any further. Your worst enemy when it comes to investing… is the person in the mirror. If you took a hot stock tip from your neighbor and bought a company you had never heard of and the stock tanked, you’re the only person to blame. The reason you bought the stock based on the tip you accepted was because you were greedy when you heard from the neighbor that the stock he bought went up in price. If you are a regular visitor on CNBC and buy a stock on a whim because one of those “market pros” recommended the stock, you can only blame yourself. The reason you bought the stock that was recommended was because you wanted a quick gain and you relied on someone’s opinion instead of researching the company yourself. By the way, you should know that there’s a pretty good chance those market pros already own those stocks they’re recommending and they’re doing some cheerleading. I call it a legal “pump and dump” scheme. It’s similar to those scams where the fraudsters inflate the price of penny stocks artificially through false and misleading information on the internet and sell out at a high price leaving duped investors with penny stocks that plummet in value. If the market always seems to be crashing after you join the party, don’t blame lady luck. Yep, it’s that person in the mirror again who you need to squarely put the blame on. The reason you jumped on the bandwagon is because you could not stand to see people around you make fast money and you wanted to get your share of the fast cash. So what’s the point of all this? The point I’m trying to make is that until you take full responsibility for all, and I mean ALL of your investment decisions, you cannot achieve success in investing. Successful investors always take responsibility for their actions. They make mistakes but instead of blaming the market or anyone around them, they focus all their energy and efforts on learning from their mistakes so that they can make better investment decisions in the future. Ultimately, there’s a direct correlation between your investment knowledge and your investment success. You cannot have level 1 investment knowledge and expect level 10 investment results. It would be the same as not being a very handy person but somehow thinking you can completely renovate your kitchen without any help. Looking back, it’s easy for me to see that when I started investing in my mid-20s, I didn’t know anything about investing. Sure, I had a few killer trades where I pocketed some serious cash in a few days but if I look at my overall returns over the period I traded in and out of stocks, I barely broke even. I was at level 1, yet somehow I thought I could get level 10 results. Now, I’m at level 8 and getting level 8 results. I keep learning every day; I just can’t wait to get to level 9 and eventually level 10 in the near future. Becoming a successful investor is not easy, but it is simple. The more you know, the more you grow. The more you learn, the more you earn. About the Guest Author: Joe’s success in real estate has allowed him to become mortgage-free by the age of 32. Now, his passion for investing is leading him closer than ever to his goal of retiring before 40. Joe firmly believes that life is too short and precious to just “make a living” or have a 9 to 5 job simply to pay the bills. He wants to share with his fellow Canadians everything he has learned in order to help them achieve financial freedom as soon as possible. Popular Posts: Canadian Discount Brokerage Comparison Top 6 ways to Save on Auto Insurance High Interest Rate Savings Accounts MBNA SPG Credit Card Review Questrade Review Are Hybrid Vehicles Worth it? Tax Free Savings Account (TFSA) Copyright 2010 MillionDollarJourney – All Rights Reserved

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Your Worst Enemy When Investing in Stocks

I have a 5500 gallon easy set pool that I just put up this past month.. and money is starting to get tight for me. I was wondering if anyone has had any success.

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Look for quality that will last. I’d rather have one thing that will last 20 years that I adore (eg. we waited a year to get a really good mattress) than something I don’t like that will be broken in two.
Make gifts. Last year it was free planners from diyplanner.com, and this year it will be handmade photo/scrap books full of pictures of the children for grandmothers and aunties. Other years I’ve done paintings, or painted little boxes. The year I bottled grape jelly made from the concord grapes in our garden backfired in terms of savings because they cost so much to ship, but it was a lesson learnt.

How can I save money on pool chemicals? | We Shop 4U Network

Starting a home business is easy the difficult part is staying with your business until it becomes profitable. Perhaps you have no ideas what is involved and just want to get out of the rat race and make money online at home . … Read the original: Internet Marketing and Home Business | Technical News

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Internet Marketing and Home Business | Technical News

When you’re learning about something new, it’s easy to feel overwhelmed by the sheer amount of relevant information available. This informative article should help you focus on the central points. Read the original post:  Base Your Home Business Opportunity on Online Marketing | Free …

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Base Your Home Business Opportunity on Online Marketing | Free …

How does one take advantage of a home based business internet work opportunity? Finding the right home business opportunity may not be easy for some people. There are many people who have been searching fro the right online opportunity … View original post here: Tips For Finding A Home Based Business Opportunity

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Tips For Finding A Home Based Business Opportunity