Canadian-Money-Advisor.ca BLOG
New Discussion Forum System: Category Section
I thought I & would take a moment to write a quick blog post. I haven't written much this year. I've been spending my time building out my site, and learning how to program... By concentrating my time on the site development, I've become quite proficient at programming, which means that the structure of this site is becoming better and better.
The good news is that the look of the site is getting better and better. I've started to hire out the cosmetic part of the site... I'm not a website cosmetician by any means. :)
I'm hoping to publish the next section of the site: the topic categories, by the end of this week.. The complexity of the new design is much greater than what I've dealt with in the past.
I'm rolling out the new look of the site in sections... basically as I build them, I will publish them. This means that the discussion forum won't match for a few months, but hopefully by Jan 1, or sooner, the whole discussion forum area will match.
You may ask, "why am I building out the site myself?" why don't I hire this out? I got it into my head that I wanted to learn about programming when I first published the site in 2005... I guess it's one of those personal interest type things.. As I learned more about programming, CSS, html, php, and mysql, I realized I could build out the site, better - stronger - faster with the better techniques I learned.
After I finish my planned build out, I hope to get back to my regular blog posting and podcasts with experts etc.
The good thing about a DIY site is this: It's all paid for in cash, with no debt acquired to build this site.. The process is slower, however as a website we remain financially safe... which is what we recommend to our visitors.
Anyway... please do look for the new discussion forum look as I roll it out in the next few weeks/months.
Cheers.
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Canadian Secure Credit Cards vs
Canadian Secured Credit CardsI've been studying my traffic logs and noticed that people are looking for Canadian secure credit cards.
I thought I should write a blog post and talk about the difference between secure and secured credit cards.
SECURE CREDIT CARDS
The context of a secure credit card is one where a person hopes to keep her personal information secure from being stolen by unscrupulous individuals.
Identity theft takes place in the following ways:
- Credit cards are stolen from wallet or purse
- Credit cards are stolen at the office
- Credit card number and information are stolen when a gas station attendant or restaurant attendant takes the card and charges your purchase on it.
- Somebody looking over your shoulder at a store etc when you've got your credit card out to make a purchase.
- Online hackers who steal a credit card database from a credit card handler, bank or credit bureau.
Canadians want to be assured as much as possible that when they use their credit card, that they won't have their identity stolen or people making unauthorized charges on their credit cards.
Canadian credit card users want a credit card from a Canadian bank, department store, etc that is very secure from theft and misuse. They also want to know that their personal information will be handled with the utmost of care by the credit card data handlers.
For more information on privacy and credit cards see:
http://www.ic.gc.ca/epic/site/oca-bc.nsf/en/ca01446e.html
SECURED CREDIT CARDS
Secured credit cards is a completely different topic altogether.
The idea of a secured credit card is one where theperson gives collateral
I pulled this from the Financial Consumer Agency of Canada's website.
http://www.fcac-acfc.gc.ca/eng/publications/CreditCardsYou/SecuredCreditCards_e.asp
How Canadian Secured Credit Cards Work
Most credit cards offered to consumers are considered unsecured. This means that the consumer usually doesn’t have to make a security deposit to obtain the card. Unsecured credit cards usually include standard, gold and platinum (both low-rate and regular-rate), retail credit cards and charge cards.
What You’ll Need to Obtain a Secured Credit Card
To obtain a secured card, you’ll need to deposit a sum of money with the credit card issuer. Depending on the credit limit you request, the required security deposit for a secured card can range from a few hundred to several thousand dollars.
As well as the security deposit, you may be charged a one-time “set-up” or application fee. Before you apply for a secured card, be sure to ask the credit issuer whether you will have to pay a fee and whether it will be refunded if your application is turned down.
Your credit limit is normally set as a percentage (usually 100 per cent or more) of your deposit. For example, if you provide the credit card issuer with a deposit of $500, you may be granted a credit limit of $500 or more. If you don’t make your credit card payments, the credit issuer may use your deposit to pay down your credit card balance.
However, making all your credit card payments on time will help you build a credit history or rebuild a poor credit score. Once your credit score is considered satisfactory by a credit issuer, you may be eligible for an unsecured credit card such as a low-rate or regular-rate standard card. At this time, the security deposit may be returned to you if you decide to close your credit card account after paying off the entire balance.
Interest Rates and Other Fees That May Apply
Secured credit cards normally have a higher interest rate than unsecured cards. Secured credit cards also usually have monthly or annual fees and, like other cards, have service fees associated with some transactions (for more details, see the Service Fees on Credit Card Transactions comparison table included in this kit).
Interest and Insurance on Your Security Deposit
Most secured credit card issuers will pay you interest on your security deposit.
The financial institution that holds your deposit is either your credit issuer (if it accepts deposits), or another financial institution chosen by the issuer. No matter who holds your security deposit, check with your card issuer to see if your deposit is insured with the Canada Deposit Insurance Corporation (CDIC) or a provincial deposit insurance corporation. Every province also has a deposit insurance corporation that protects deposits held at the financial institutions it regulates.
CDIC insures deposits (up to a limit of $100,000) held in financial institutions regulated by the Government of Canada. This protects you if the financial institution holding your deposit declares bankruptcy. For more information, visit CDIC’s Web site at www.cdic.ca or call CDIC toll-free at 1-800-461-2342.
I can see why there would be confusion with the terminologies Canadian secure credit cards and Canadian secured credit cards. They similar but very different. One talks about the security of personal information and the other talks about collateral given to obtain a credit card.
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What is a Canadian Banks secured credit cards?You can get a Capital One Secured MasterCard credit card online by visiting Capital One Canada's website. I was curious as I saw people asking about which Canadian secured credit cards are available online. Until today, I hadn't taken the time to go to each of the Canadian bank's websites to research which bank offers a secured credit card. I thought that this might be a good topic for a post.
I did some research today on the major Canadian banks and which ones have secured credit cards. The question that I asked specifically is:
What is a secured credit card and Which Canadian banks offer online applications for secured credit cards on their websites?
Here is what I found:
TD Canada Trust secured credit cards:
I went to www.tdcanadatrust.com I searched through their personal credit cards and found that TD Canada Trust DOES NOT have a secured credit card that you can apply for online. To confirm that this was the case, I contacted the TD Canada Trust toll free number hotline and asked them if they had a secured visa credit card on their website. The operator replied, "No, you have to go into the branch to apply for this type of visa card."!
Royal Bank of Canada ( RBC ) secured credit cards
I clicked on to www.rbc.com. I looked through their personal credit cards and credit products and discovered that Royal Bank Canada ( RBC ) DOES NOT have a secured credit card product that I could apply for on their website.
ScotiaBank secured credit cards
I surfed over to www.scotiabank.com.
Scotiabank DOES NOT offer a secured visa credit card application on their website.
I call Scotiabank's toll free number and they confirmed that I would have to go into the branch to apply for this type of visa card.
Bank of Montreal (BMO) secured credit cards
I clicked on to www.bmo.com. Bank of Montreal DOES NOT have a secured credit card on their site. I found that they DO have a prepaid mosaik mastercard, but that's not the same as a secured credit card, especially in Canada.
I called BMO's customer support toll free number and was really annoyed that I had to wait for 20 minutes to get to a BMO customer support rep. I asked the rep what is a secured credit card? I was even more annoyed that when I got on the phone with the first customer service rep, that this person didn't know about secured credit cards, and then forwarded me to another customer service area. I had to wait for another 10 minutes to speak to that person. You would think that BMO has enough money to hire adequate customer service reps.
Canadian Imperial Bank of Commerce ( CIBC ) secured credit cards
I visited www.cibc.com and searched through their personal visa credit cards. Canadian Imperial Bank of Commerce ( CIBC ) DOES NOT offer a secured credit visa card on their website. You have to go to a cibc branch to apply in person for one of these cards.
I did call the CIBC customer service toll free hot line number and the customer service rep confirmed that CIBC does not offer a secured visa product on their website.
Capital One Canada secured credit cards.
Capital One Canada DOES offer a secured credit card on their website, and you can to apply for it online.
Apply Now!!
My thoughts:
Applying online for a secured credit card is very convenient for most people. Capital One Canada is a federally regulated Canadian bank. As well, they are highly visible with their beloved "hands in my pockets" and "you've got bankers" commercials.
Even though each of the Canadian banks have decided that they don't want to offer a secured credit card product online, it's nice to know that you can get a secured credit card for Canadians on this website!!
What is a secured credit card?
Tags
Canadian Secured Credit Cards - Major Canadian Banks
British Columbia (BC), Alberta, Saskatchewan (Sask), Manitoba, Ontario (Ont), Quebec (PQ), Newfoundland (NFLD), Nova Scotia, New Brunswick, Prince Edward Island (P.E.I.)
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Canadian Tour of Personal Finance Blogs Welcome to the Nov 27, 2007 Canadian Tour of Personal Finance Blogs.
I want to thank all of our Canadian personal finance blog participants.
Nancy Zimmerman wrote about:
Personal Praxis: the process of change as it relates to money, and my menu!"
I was intriqued by the terminology Personal Praxis. I looked up Praxis and it has the following meaning:
n. pl. prax·es (prÄk'sÄ“z')
1. Practical application or exercise of a branch of learning.
2. Habitual or established practice; custom.
From dictionary.com
Personal Praxis=Practical application of what we learn.. Isn't that a great idea for personal finance?!!
Frugal Trader - milliondollarjourney.com wrote a post :
How I (Try To) Save money during Christmas
He gives us 7 points that cover purchases and expenditures around the Christmas Season. I like this point: If you have a crafty/artistic/baker side, how about making a gift instead of buying one? Not only does making your own goodies and gifts save money, it's a more personal touch!
This is a good post to read if you want even more tips about saving money at Christmas time.
Riscario Insider - riscario.blogspot.com wrote a post:
Three Tips for Holiday Spending
Riscario is taking a strong and maybe less emotional position on Christmas spending:
His Lessons Learned
Here are three tips to deal with overspending:
1. Know your prices
2. Know your limits
3. Delay opening impulse buys
Riscario's got a good disciplined approach to Christmas spending.!
ThickenMyWallet wrote a post about:
Holiday Spending- do you want your mutual fund gift-wrapped?
ThickenMyWallet has had quite a few invitations to financial seminars recently and has witnessed the high pressure smoke and mirror pitches by mutual fund companies.
He offers 3 points about shopping for mutual funds.
- Be careful of spending tons of money on expert speakers who tell you that they will help you get rich by following their advice.
- Skip the product and master the strategy first. He promotes than developing a prudent and sensible strategy rather than following marketing's blinding lights.
- Plan out your cash flow. Make sure you have the cash to get involved.
Canadian Dream Free at 45 wrote about:
A Review of My Holiday Spending
Canadian Dream is answering a question about how he handles his holiday spending.
I like his approach that he allocates his Christmas budget well in advance of the holiday. He tallies the amount of people that he's buying for and the figures out the total budget that he's going to spend. IE. If he's got 24 people to buy for, he's only going to spend $1200, or $50 per person.
This is a great idea as you know how much you're going to spend per person and won't go looking for much more expensive gifts! I really like this practical approach.
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I want to thank our participants for giving us these great posts with a Christmas spending theme... I'm glad we did this theme at this time of year as there are many millions of people who get over anxious about christmas spending and trying to buy enough goodies for their loved ones. Much of the time these unaffordable gifts go on the credit card and cause alot of after-Christmas stress for the givers.
We have had many good tips and money saving ideas from our participants today, and I encourage you to visit their blogs and read their full blog posts!
Some of the scheduled bloggers got side tracked and I'm sure we'll catch them on the next Tour.
NEXT Canadian Tour of Personal Finance Blogs tentatively scheduled for December 9, 2007
Let me know if you want to participate as a host and blog poster.!!
SEE: About Canadian Tour of Personal Finance Blogs
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Canadian Secured Credit Cards are good for StudentsI remember getting my first credit card back in 1982-ish.
I started a new job and was anxious to get my credit started.
I wanted the feeling of having a piece of credit with the banks. I knew that if a bank gave me credit, that was a good step.
The only problem was that I was living on my own and didn't have anybody to co-sign for me. I didn't want to ask my mother as that was not cool. They didn't have secured credit cards back then. So I had to find someone to co-sign for me.
I remember asking my employer if he would co-sign for me. He was kind enough to help and I got my credit card. I've never looked back.
When I got my first credit card, I would spend $20-30 a month just to see what my statement would say. Then I would quickly pay it off.
( I'm the type that worried about owing $5.00 on my credit card! ) Over time I felt more confident with my ability to manage money and credit. I learned to keep my spending well within my budgets. These lessons have helped me in business many years later.
- University / College Students have no credit rating
My story is the same as university students who are just starting off. They don't have a credit rating with Equifax or TransUnion and thus are required to either get a co-signor for an unsecured card, or put up some security for a secured credit card.
- Students want independence from parents
Like myself, students want their independence. They want to feel like they can handle themselves away from home. This gives them a sense of well being in that they are able to manage themselves away from their family of origin.
- Students need an affordable credit card
Students who have part time jobs are able to scrape some money together to put a deposit on a secured credit card.
The good thing in this case is that students can get an affordable secured credit card for a deposit as little as a $75.00
This makes it affordable for them get the card and start their credit rating.
- It helps Students learn to manage money and credit.
Students who are just starting off need to learn how to many their money. A credit card will help teach them the responsibility of making payments on time. This is very helpful as they will have to keep bills current as with a mortgage payment, electrical bill, gas bill, phone bill etc when they purchase their own home or rent an apartment.
A secured credit card allows the student to get a reasonable priced credit card, start a credit rating and then "practice" to make payments and keep his/her credit in good standing.
Get a Canadian Secured Credit Card today!
Discuss Canadian Secured credit cards
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- Posted November 23, 2007 by Monty Loree
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Canadian Secured Credit Cards are good for
- New Immigrants
While I was working for an offshore project with my company a few years ago, I was required to secure a U.S. credit card. As a Canadian resident, I do not have a U.S. citizenship and worse, I do not have a U.S. credit rating. I felt the frustrations of every person living in another country. My good credit score and good credit practices in Canada do not matter in the U.S. or in any other country. I was completely lost.
Fortunately, my firm's good reputation helped me secure a U.S. credit card although with a small credit limit.
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For 25 years, I have maintained an excellent credit score in Canada but those did not matter in the U.S. the U.S. credit card company, like Equifax U.S. do not have any records of my credit standings.
New Immigrants in Canada required to re-start their credit.
With that in mind, I empathized with families who migrated to Canada who wanted to secure their first credit card in their new country. Even if they have a house with mortgage, credit cards, lines of credits in their former country, they will be forced to start all over again when they arrive in Canada.
Unless the immigrant has a great deal of cash to work with, they will have no choice but to rent an apartment while they save up for a home. But renting an apartment does not affect your credit rating. Immigrants will not be able to get any type of loans unless they have sizable security deposits or other assets.
One of the quickest and easiest ways for the new immigrant in Canada to start their credit rating is to get a secured credit card. These credit cards can be obtained for as little as $75. The beauty of a secured credit card is that it reports to Equifax and TransUnion the same as a regular credit card. This means that it helps start a credit score in as little as one billing period.
Every family that immigrates to Canada has hopes and dreams of owning a home, car and living the Canadian lifestyle. A secured credit card might just be the fastest and most cost effective way for them to start their credit rating and move on to that home mortgage for their family.
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Canadian Debt Settlement - Is it right for you?Are you over your head in debt? Thinking about using a debt settlement company service?
Debt settlement is relatively new in Canada. It is a bankruptcy alternative for people who have over serious credit problems.
DEBT SETTLEMENT DESCRIBED
Debt settlement is when you or a company that represents you approaches your creditors and tries to negotiate a percentage off your current principal and interest owing.
Example - You owe the following amounts:
Credit Card #1: $ 2,500
Credit Card #2: $ 5,000
Credit Card #3: $12,500
Car #1 loan: $22,900
Line of credit: $14,000
Total Owing: $56,900
THE PROBLEM STARTS - you just got sick and can't work and your spouse got moved to part time hours.
All of a sudden the debt that was well within your means is now out of reach payment wise.
This type of scenario causes a great deal of stress on the husband and wife and their children. It's enough stress to cause havoc with your health. This type of scenario is becoming more common place in Canada.
In this example, you would approach your creditors and tell them that you're not able to pay your bills, and would like to settle your debts at 50¢ on the dollar. If you successfully settle your debt at 50% off the outstanding amount, your debt would be reduced from $56,900 to $28,450. This would reduce your payments and interest by half.
Is this the end of the story? Do creditors mind if you only pay them half of what you agreed to?
The answer is NO! Creditors object to people only paying part of what they agreed to by sending very bad reports to Equifax and TransUnion. They'll rate your credit items as R9 -Bad debt /written off which will then harshly affect your credit score and hamper you from getting credit in the future. This is not something you would want do without serious consideration.
Canadian Debt settlement is only a bankruptcy alternative. Bankruptcy becomes public record and you have to admit to declaring bankruptcy for the rest of your life. The idea of having to admit to declaring bankruptcy will usually make people want to do debt settlement instead.
In summary, debt settlement is a service for some people, but you should seriously consider this alternative as it does have harsh credit "side effects".
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Robin Williams Talks about the Canadian Dollar - FUNNY!Ha! I saw this on Youtube and thought Canadians would think it was cute.
Robin Williams has been one of my favorite comedians since he first came on the scene in the 70's.
I'm wondering what went on in his mind to start talking about the Canadian Dollar! :)
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Canadian secured credit cards are good - 4 reasons why
- Canadian secured credit card means guaranteed acceptance
This is a nice feature as it gives you the peace of mind to know that if you apply for this card, you'll be accepted for this card. There are many people who do not have credit in Canada such as people with bad credit, students, and new immigrants to Canada.
When people have bad credit, they tend to apply for many different credit cards all at once. The problem with this is that every time a credit card company takes your application they get a credit report from Equifax Canada and/or TransUnion Canada. Every time a credit card company accesses your credit report, it costs you approximately 6 points off your credit score in Canada.
- Canadian secured credit cards help your credit report / credit score
People who are just starting off and have no credit history often have a difficult time attaining credit as their future creditors have no credit history to show how they've dealt with their credit previously.
- Canadian secured credit cards help students and immigrants get credit
University and college Students in Canada are usually starting off financially and haven't got that necessary credit history started.
Students may have a part time job while working on their studies. Once you turn 18, it's the first time that you can get a credit card on your own. It's a pretty exciting time.
Students can getting a secured credit card on their own with out having their parents or friends co sign for it.
With immigrants it's difficult to start your credit. Even if you're moving in from the United States or other country. It's not commonly known that Equifax Canada and TransUnion Canada keep a separate database of consumers for each country. A secured credit card helps them get a credit rating started in their new country.
- Canadian secured credit cards help people with bad credit
A secured credit card in Canada shortens the time it takes to reestablish your credit. Upon acceptance and usage of this credit card, the credit card company immediately starts to report your good credit to Equifax Canada and Transunion Canada giving you positive credit reporting in as little as a months time.
Apply for a Capital One Canadian Secured Credit Card today!!
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Live with a strictly cash
cash only life styleTrying to destress your life financially? Live with a strictly cash - cash only life style could be the answer to your problems.
If you're strung out on credit and are drowning in debt because of you're poor spending habits, you need to practice a cash only life style.
11 Quick tips to a cash only lifestyle.
- Take the credit cards out of your wallet and put them in a hard to reach place.
- Open all your credit card statements and study the purchases, balances and interest paid etc
- Take an hour or two to reflect on your spending habits. Do this regularly.
- If you feel like impulse buying, ( with cash ), DON'T! Wait three days to let the impulse cool down.
- Think about how much cash you would need in a weeks time. Put that cash in your wallet.
- Cook at home all the time. Fresh food - home cooked save money on restaurant bills.
- If you're too busy to plan your cash finances, cut out other activities right away.
- Buy things ONLY WHEN you've got your monthly bills covered.
- Buy things ONLY WHEN your debts are paid current.
- Buy things ONLY WHEN you have a surplus of cash in the bank.
- Buy frivolous things ONLY WHEN you have three months of cash reserves in the bank.
Buying with cash may take a positive lifestyle change on your behalf. Having too much debt has probably caused too many negative lifestyle changes!! There's nothing wrong with living financially prudently.
Having a strict cash only budget may mean some adjustment up front and a few less frills, but it will mean a great deal of peace of mind in the future.
The best way to motivate yourself is by asking how you would feel if you were debt free and had cash in the bank. This would give you peace of mind in the long term. I encourage you to act on these quick tips right away to get you on the road to a strictly cash - cashly only life style.
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Get The Greatest Advice On Debt Consolidation
by Alan Lim
For the most part, people are constantly in debts. When situations get worse, the only option is thinking of applying for bankruptcy. There are lots of debt consolidation advices to make you live a debt free life.
Know the basics
It is important to understand the whole notion behind debt consolidation. Debt consolidation is not a means of eliminating your debt. Rather, this means taking out a greater loan in order to pay off either smaller or multiple debts. So you are not actually out of debts, you are still into debts, but in a consolidated manner. Most debtors will prefer this option because it is a means of keeping track of their credit record. Multiple and smaller debts are difficult to deal with. At times, the holder may forget about these. The outcome will be an increment in debt due to multiple fines or penalties.
Accept your plight
A successful debt consolidation strategy should start by you accepting the fact that you are actually into debts and you are facing extreme difficulties trying to pay off these debts. Keep in mind that knowing the problem can be half way solving the problem. Most people are into debts but fail to accept that this is a big problem to them. If you are in serious debts but you do not think it possible to turn to debt consolidation, it may be possible you seek the help of a finance consultant. Avoid putting yourself into more peril.
Get only what is required
Debt consolidation should be only for the purpose of settling off smaller and/ or multiple debts. Your finances are already negative and you should not do anything to further worsen your plight. Thus, take out only the required amount. Forget about thinking that an extra amount from a debt consolidation loan might put you again on track. Mistakes have never been a bad thing. What is bad is the failure to recognize your mistake or the inability to correct your errors. This is pride which you manifested before you fell. And this might still be the cause of your bankruptcy.
Make a decision
Debt is a chronic occurrence in the lives of most people. No matter what happens, you may still fall into debts. We live in a world where finances play a key role in every decision that we take. If your livelihood depends on the decisions you make, it is recommended you take a sound and lasting decision. Determination is the key to success. If you look at debt consolidation as the last resort, be determined that this is really the last opportunity of getting into debt. Take note that failing to manage this opportunity may mean your credibility for a subsequent debt consolidation will be based on a doubtful footing.
If you are still in doubts on debt consolidation, do not hesitate to visit the link below for more information as we as the expert in this area could give you good advice in advance. You will definitely not be disappointed.
About the Author
Are you looking for a way to live a debt free life? If yes, log in to Debt Consolidation now to take a lasting decision aimed at defeating your debts.
http://www.homemortgageloan-refinance.com/
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Investing Money Advice-how To Make A Killing In The Market
by Josh Neumann
So what is the best investing money advice today to help you achieve your financial goals? Actually, there are many different tips that will provide helpful to you on your road to financial freedom.
However, by far the most important thing you need to know is what you want your end result to be. This is certainly the most important beginner investing or advanced advice you will ever get. Hopefully this stock investment advice will help you to achieve your goals, whatever they may be.
Quite simply, many investors jump into the investment field arena without having a clue for what they want to accomplish through it. It doesn't matter how good of an investor you are-without knowing your final goal, you will never get anywhere with your investments. This would be akin to getting in your car and just starting to drive without knowing your final destination.
Here's your first investing money advice: you need to sit down and map out what you want to accomplish with your investments. Do you want to achieve a 15% annual return? How much money do you want in the bank 1 year from now? How about 5 years from now? 10?
As you think through this, also keep in mind what you plan on doing with this money. Just wanting to make a lot of money will not provide a lot of motivation; however, knowing that you could buy a new house, boat or car with this money will be all the incentive you will need to achieve your financial goals.
Another great price of advice for investing your money is to write out your goals, and place them in an area where you can view them often. It's often been said that the simple act of writing out a goal is enough to help you achieve it.
This evokes one of the greatest laws in the universe, which is attraction. By continually visualizing your end objective, your mind will subconsciously work on ways to help you get there.
Once you know what your financial end will be, now it's time to map out your course for getting there. This will obviously be different for every investor. The two most common investment methods are real estate and stock investing.
Neither way is better than the other; many have made a fortune with each. Your final decision will completely depend on you, your tolerance for risk, and what you want to achieve.
For instance, if all you want is to be able to buy a car in the next 6 months, then you won't want to risk your money with stocks, real estate, or mutual funds. These are long term investments, and should be viewed as such.
Most investors view these vehicles as ways to get in and make a quick buck. Nothing could be further from the truth.
All of the top stock and real estate investors will only invest in a particular investment if they can be sure it will go up for the long term, contrary to popular belief. Most investors want to make a million dollars overnight and this will rarely be the case.
If your goal is to have enough money to purchase a new car in 6 months, then you will want to focus more on short term bonds, or something else that can be assured of going up. This obviously isn't as exciting as real estate or the stock market, but it will be the best method to help you achieve your particular goal.
Remember, it really doesn't matter which method if investing you choose. The best investing money advice that you could ever receive is imply knowing where you want to be at the end of it. Only after deciding on this should you even start to consider which investment to put your money in.
About the Author
For info on how to buy stocks, visit http://www.stock-investing-tips.com, and learn how to investing in the stock market.
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The Real Basic of Forex
by j3fk4
If you somehow tumble over this article, it means you still need help in Forex trading. There is no need to be ashamed tho, since 75% of the Forex trader doesn't even survive in this race. The question stays same, what I should do to be successful in Forex trading. Ironically the answer stays same, you should learn how to survive first.
It is funny that a lot of people in the world state that they know how to survive, yet they don't actually really know 100% how. And obviously, it is the same with Forex trading, many claim they know how to survive in the game but state none of how of it. Why? Because they don't have enough basic to cover their survival!
Learning the basic of Forex trading is actually pretty easy. The reason nobody really knows it is because either most of the forex traders think they have already known it and quickly jump into the trading game, or because they think that the basic is not important.
Cut the crap short, we are going to start on what the real basic of forex trading is. And of course the answer is short too, it is one of the probability game!
Most of the person tells you that forex trading and going to casino are two different thing. While it is true, it is not 100% true. In fact only 25% of that statement is true. When you go to casino, there are 75% chance that you will loose your money, 15% chance that you will just stay there make nothing, win nothing, loose nothing. In other word, you have at least 75% chance to be destined a loser in casino room. Well, that's the same with forex trading.
I have never said that if you are the champion of casino room, you will be the champion of forex trading. But you in order to at least survive in forex trading, you need to at least ask the 15% survivor in the casino room. Ask them how they do it. See and hear the answer, you will be shocked that actually their answers are the ones you need the most!
This article should be ended here since the next paragraph will be covered next time. And if you wonder if these article is copyrighted, well of course it is not. This article is purely being written by me and I doubt if someone really copy it for the pure reason since introducing the real fact of the forex trading basic will most of the time earns you some scolding, since it is right.
Go to http://4xu.net for more controversial info!
About the Author
j3fk4 is a nickname only. There is nothing about j3fk4, and there is none of j3fk4. J3fk4 exists only in cyber world.
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Forex Trading Psychology - Why Most Traders Can't Acquire This Trait and Lose
by Monica Hendrix
It's a fact that most traders lose because they don't have mental discipline and the reason for this is quite complex in that to have discipline you have to have certain traits that are not considered good in normal society - but there essential in forex trading.
Forex success is available to those traders who understand the following:
Robust Simple Method + Applied with Discipline = Forex Success
Of course if you don't have the discipline to apply a method with discipline, you really have no method in the first place.
1. Consult an Expert
The first thing to understand is that discipline comes from confidence in what you are doing. If you don't understand how and why a forex trading system works you will ever have discipline - PERIOD.
To many traders follow gurus or mentors and expect their forex trading system to lead them to success - yet most of the systems sold are junk or the logic is simply not understandable and the traders lacks the discipline to follow it - as soon as it hits a few losses ( and all trading systems do) they throw in the towel.
If you take the time and trouble in your forex education to learn all the reasons why a system is likely to work then you can succeed.
Today we are taught that the experts know best but in forex trading this is very often not true.
2. Isolate Yourself
In life no one likes to be on their own - man is a pack animal and since stone age times we have grouped together for safety. In the forex markets thought follow and join the herd and you will lose your equity so stay isolated.
3. Make Your Own Rules
In life we are taught to obey rules and our lives are structured. In the forex market however we have to make our own rules up and live by them and this is hard for many traders, they simply cannot take responsibility for their actions.
The market is an all powerful force and it moves as when it wishes where it wants to and finally only you can be wrong and it's always right.
You either accept this and construct rules to live by or you fail.
4. Money is Not Important
Of course it is - but in forex trading you have to treat money as if its not. If you don't your emotions will get involved and you will never be able to run profits and cut losses.
Most traders run losses as they don't want to take a small lose and when they get a profit they get so excited they want to grab it before it gets away. Most traders snatch marginal profits whereas if they had held on and had the courage of their conviction they could have made a huge profit.
5. Profiting From Others Failure
Your on your own in trading and its dog eat dog and you make money from others failure it's as simple as that.
Obtaining discipline is simply not easy and as you can see, many traits considered great in normal society need to be re thought. Of course anyone can adapt and trade with discipline in the forex markets it just depends on whether you are prepared to adopt a new mindset.
If you do adopt a new mindset then currency trading success can be yours.
About the Author
NEW! PROFESSIONAL FOREX COURSE AND FREE TRADING PDF's
For free trading guides and an exclusive Forex Trading Course visit our website at: http://www.learncurrencytradingonline.com/index.html
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CANADIAN TOUR OF PERSONAL FINANCE BLOGS
- Nov 25, 2007
We've got a great start to the next Tour event.
So far we've got 7 participants !!
I am proposing a theme for this Tour. It is optional.
My views on Christmas spending as it relates to personal finance
I am curious to see if anybody is interested to write about this topic. :)
As always, please let me know if you're interested in participating and if you've got any suggestions or questions about the up coming Tour event.
Thanks..
Monty Loree
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How To Repair Bad Credit
by Bryan Pringle, Ph.D.
--GUEST WRITER--
Can bad credit be repaired? Most consumers believe that once you have bad credit, then you will never again have good credit. Bad credit is extremely difficult to repair, however, it can be done. What you need to keep in mind, is that bad credit only lasts as long as the delinquencies on your credit report last. Once the negative items on your credit report are removed, then you will once again have good credit.
Okay, so what is the time limit for negative items to stay on a credit report? Bankruptcies stay on the credit report for about ten years and negative items stay on for about seven years. Why do I say "about" seven and ten years for negative items? Typically, the negative items should be removed after seven and ten years, however, it often takes a bit longer for these items to be removed by the credit bureaus. In general, the seven and ten year periods are calculated from the date that the event took place.
One way to repair bad credit, is to negotiate a settlement of delinquent debt. Generally, you can negotiate with the debt collection agency or bank that owns your delinquent debt. A rule of thumb, is to try and pay about thirty to fifty cents on the dollar. You can usually get an agreement, in which the debt owner, will agree to place a "settled in full" statement on your credit report, once you have paid the agreed upon amount. Never pay the negotiated debt settlement amount, until you have an agreement in writing. This is because once you have paid this amount, the debt owner, has no incentive to place the "settled in full" statement on your report. If you pay the debt, and the debt owner fails to place the "settled in full" statement on your report, without an agreement in writing, you will have no proof that the debt was settled in full.
If you don't have any money to repay any portion of the delinquent debt, then another way to re-establish good credit, is to start taking out small loans at a bank or loaning institution. This method also works by establishing timely payments through secured credit cards. It seems quite bizarre, but you can actually drown out bad items with good items. What this simply means, is that if you have fifty loans that are in good standing and ten loans in bad standing, the loans in bad standing, will be eclipsed by the loans in good standing. Keep in mind, that you will have to take out very small loans, and pay these loans back on time, in full, every time. Paying off about twenty to thirty small loans on time, will make a significant difference in calculating your credit score. Many individuals credit scores can raise a few hundred points, in a relatively short period of time, with this method.
What if you have bad credit because of fraudulent activity? First, let's specifically define fraudulent activity. The majority of the consumers define fraudulent activity, as individuals who take out credit cards or loans, based upon someone else's identifying information. That is only partially true. Fraudulent activity, can also be a credit card company illegal raising an interest rate in violation of contract terms, a loan being called in before it is due, a bank demanding an illegally accelerated payment of a loan or credit card, or any other violation of law by a financial institution regarding the repayment of a debt. Most consumers fail to recognize when financial institutions commit fraud. The simple solution for fixing bad credit because of fraudulent activity, is to dispute the activity on your credit report. In real estate, the motto is: location, location, location. When it comes to fraudulent credit activity, the motto is: dispute, dispute, dispute. Consumers have the right to dispute any and all fraudulent activity on the report, whether by individuals or financial institutions, by contacting the three credit bureaus and disputing the debt, in writing.
Bad credit, can and should be, repaired. With a little effort and time, bad credit items can be either erased, settled, or eclipsed by good credit.
About the Author
Bryan Pringle, Ph.D., has written many articles on the credit industry, and is the webmaster of websites offering news and information regarding credit cards. For more information, please visit: http://www.apply-forcreditcards-online.com
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Don't Fight Yesterday's Investment Battle: Why Betting on Last Year's Bull Market Always Fails
by John Reizner
Just when a new bull market in a category of investments (stocks or commodities, etc.) is percolating to the top, investors may still be immersed in the psychology of investing in the previous bull market's most favored investment. As the maturing trend dies out, investors may still try to find reasons to invest in that trend, even though it may be actually reversing, with some investors playing yesterday's game. This may happen just when the long-term trend for the mature trend may have turned down.
For example, hypothetically, if the case were true that the recent 2007 stock market squalls signified a coming bear top in the market, many players by definition would not recognize such and would, looking through the rear view mirror, be playing yesterday's game, still investing in the dying bull market.
These types of long-term reversals do not happen often, but such reversals present opportunities to preserve past bull market profits and to invest in a new bull market's investments. There is a fundamental change in the psychology of the markets when this transition occurs - and it needs to be recognized. But that is easier said than done.
I recall shortly after the great stock market bull of the 1980's launched in 1982-3, many prominent investors were incredulous about the market's powerful launch. After all, the Dow average had hit a peak of slightly over 1000 back in 1966, and was only finally 16 years later in 1982 decisively breaking through that level once again.
Even back then in the Stone Age, on the popular eighties-era NBC "Family Ties" television series, Alex Keaton, the character played by Michael J. Fox, exclaimed that 1000 was the new floor for the stock market! I think we all knew how important it was at that time for the stock market to exceed the boundaries that had restricted stock prices for over a decade and a half before 1982.
I think one of the reasons why many people were not more fully invested in the stock market during that exciting time was that they were fighting yesterday's investment battle. Investors were scarred by the brutal collapse of the one-decision Nifty-Fifty stocks in 1973-74. Economic conditions were extremely poor during those years with inflation raging and interest rates soaring. These were the worst recessionary times since the Great Depression. Investors were in no mood to buy stocks - no return, no sizzle - at that time.
However, nothing had been more dazzling to the markets in the late 1970's than the spectacular bull market in gold prices that climaxed at about $850 per ounce at the end of the decade. Indeed back in the late seventies up until the launch of the 1980's super-bull market in stocks, gold dominated the minds of investors. Not only were gold prices and shares escalating at that time, but oil and oil service companies were on the march as well. This certainly compares in many ways with events in today's gold and oil markets.
This dramatic 1970's bull trend in gold was my initiation into the financial markets for the financially innocent 20-something I was then. But I found myself psychologically fighting yesterday's investment battle soon after the stock market took off in 1982. Yes, I owned stocks, but I was still wondering when gold was going to recover, which by 1982 had collapsed in price to $300 per ounce after the speculative frenzy in per ounce prices broke.
Indeed, it is possible that gold prices and the stock market can move in the same direction. When the stock market took off in the early 1980's, the gold market rallied from $300 - $500, and I somehow believed there was still hope for gold. However, as time passed, I realized the promise of equities and held stocks, and over time the psychology and mystique surrounding the gold market faded, that is until now, over twenty years later.
Where are we now in the scenario of transitioning leadership and bull markets? What market will be the most forceful on the upside in the coming few years? Well, the process began when the price of gold, oil, gold shares and oil shares in 2003 began escalating in a manner of building inflationary pressures after Federal Reserve Board monetary ease during the millennium recession. Gold and oil have more than doubled in price, and equities have risen with them in an unseemly liaison. In fact, they have risen so much (with gold now around $800 per ounce), oil, gold, oil shares, and gold shares may hit temporary resistance near or slightly above this level. See my article, Bulletin: October 24, 2007 - What Now on Gold?
However, the last four years of generally rising equity prices may be the limit to what we see in the stock market, as market-leading inflation plays (including traditional commodity inflation plays) hit resistance for now in front of the investment pack. In addition, the likelihood of a left-leaning President being elected next year may keep a lid on the general market.
That said, we may indeed have a short grace period in the time before the election of rising stock prices due to the very positive effect of recent Federal Reserve Board consecutive discount rate cuts. Growth stocks may do well in the near term, given a temporary cresting in inflation hedges. I believe the long-term inflation genie is in the hands of Federal Reserve Chairman Bernanke.
I have written about a building danger of underlying inflation in my article, Inflation and the Stock Market: Does Anyone Remember the Seventies? Gold, as an inflation hedge has already doubled in price. Nonetheless, the bull market in gold may continue for some time given that inflation still seems to be building and given that the 1970's bull market in gold lasted ten years. Bear in mind that during the inflation of the 1970's there were two waves of increasing prices for gold, punctuated by solid declines in between waves in that measure of prices and in the value of inflation hedges. We may now similarly be in a temporary topping of the first wave now around $850 per ounce. Whether the fever breaks for gold and other hedges and cools for a while remains to be seen. But as they say in Las Vegas, the cards have been dealt.
This article contains the opinions and ideas of its author and is designed to provide useful general information to the reader on the subject matter covered. The author may or may not have current positions in the investments mentioned in this work, and the author may from time to time make investments in a manner that is not described here. Past investment performance is no guarantee or prediction of future results and any investments made, based on the opinions and ideas contained in this work, may or may not be successful. The strategies contained herein may not be suitable for every investor or situation, and the author is not engaged in, and should not be construed to be, rendering legal, accounting, investment advisory or other professional services to the reader or any other person. Readers should consult their own advisers for advice particular to their individual circumstances.
About the Author
John was first exposed to financial markets when he started reading the stock quotes out of the newspaper to his businessman grandfather, who was legally blind, when he was about ten. His current e-book, A Way to Wealth - the Art of Investing in Common Stocks, is available at his website, http://www.ReiznersWay.com.
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Stock Investing For Dummy
by Jack Johnathan
The Beginning:
When I first started experimenting with the stock market I was 18 years old and I had heard it was extremely lucrative. I mean I thought I could get rich over night if my stock soared in price. I had dreams of owning fancy cars and houses, so basically I was in my own world. My dad told me that the stock market was easy to make money in if you knew what you were doing. He would always say "stock investing for dummy". He was a financial advisor and so it was easy for him to say that.
The Middle:
I deposited $2,000 that I had saved up over the summer and put it all into my first stocks. I was so excited that I was going to make money that I quit my summer job. Weeks went by and I saw my stocks go up only a few cents. I was pretty disappointed. After a couple months my stocks went down hill and I ended up only having $200 off the original $2,000. I was ready to give up. I mean come on, I was 18 and I had basically lost all my money. My dad told me that I was doing the wrong thing and that there were easier ways around it. My father basically said you are stock investing for dummy stuff and I started to figure out what he was saying. Basically he told me I needed "help" in order to succeed.
The End:
After losing a lot of my money (over $10,000) in the next couple years I finally stumbled upon certain software that helped you predict the outcome of your stock before you bought it. I thought that it was too good to be true, but why not try it. You know what I mean? I was already losing a lot of money, so why not buy a cheap software and see how it worked. I bought a few softwares and over the years I had to buy new updated versions. Basically they worked somewhat good and earned me a mere 10% on my original investment. I had put $4,000 into stocks and had earned around $400 within a month. So it wasn't that bad.
The Beyond:
After trying out many softwares I came to a conclusion that in order to succeed you do need help, and that you need to stop investing like a dummy. I have used over 30 softwares, and one stands out above all. This software allowed me to earn 30% on my initial investments. So I mean could I have done it without a software? I highly doubt it. But we live in a world where we need to take advantage of the technology so why not you know? Well check out the software for yourself. It should also be in my resource box.
Find out: http://snipurl.com/1tcv1
About the Author
I've earned a lot of money with stocks and I have been able to reach such success with the help of technology and software. The software I currently still use that has stood the test of time can be found at http://www.trading-pattern.com/
tags:
swing trade pattern
trading pattern that swings
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Consumers 'Need To Monitor Finances' During Christmasby Abbi Rouse
--GUEST WRITER--
More people could be due to come under financial pressure over Christmas, a new study suggests.
In research conducted by CreditExpert, 76 per cent of Britons state that they are set to either spend the same amount of money on gifts this year as they did in 2006 or increase their expenditure. The news comes as 29 per cent of those surveyed claim that their present financial situation is tighter than it was last year. And as the credit reference agency claims that the impact of the recent series of interest rate rises and the credit crunch has put more strain on consumers' monetary situations, more people could well be due for a "huge financial fork-out this Christmas".
The study also showed that eight per cent of respondents believe that their borrowing, whether through credit cards, overdrafts or a personal loan, will increase in the weeks leading up to the Christmas period. Meanwhile, about half (47 per cent) of those surveyed think that there is a social pressure for them to buy expensive gifts.
Jim Hodgkins, managing director for CreditExpert, said: "During the festive season, most of us spend more than normal so it's especially important to monitor our finances and make sure our Christmas doesn't turn into a financial nightmare."
He advised that while buying gifts is a "big part" of the festive period, consumers would be wise to avoid overspending as otherwise they could develop problems managing debts accrued via loans and credit cards. "It's vital we budget and take a step back to ensure all our outgoings are necessary so we don't end up being unable to make the repayments come January - a bad credit rating can make the difference between being offered credit or not, so make sure you keep on top of your credit history and ensure you can pay back any debts before you go into the red," Mr Hodgkins asserted.
Overall, the study showed that people in the north feel that they are under the most pressure to splash out on expensive gifts for their loved ones, which consequently could impact upon their ability to make payments on personal loans and other types of borrowing. In turn, CreditExpert pointed out that those from the northern areas struggle more with money than anywhere else in the country, as the levels of consumers in the north-west and north-east who have got into debt after overspending during Christmas accounts for 37 and 31 per cent respectively. This compares to the 22 per cent of residents from the south-east of England who admitted getting into debt last Christmas. Meanwhile, people in the 35 to 44-year-old age bracket are the most likely to have gone into the red as a result of exceeding spending plans over the festive season.
For those concerned about their ability to fund their spending in the run-up to Christmas, taking out a cheap loan could well be an advisable option, as in doing so borrowers may be able to make a number of purchases at a low rate of interest or pay off other debts that they may have built up. Last month, Neil Munroe, external affairs director at Equifax, reported that having a positive credit report can help consumers access a loan at a competitive rate of interest.
About the Author
Abbi Rouse is Editor in Chief for All About Loans. Our visitors have access to loans of all types: From self employed loans to bad credit tenant loans.
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People 'Becoming Financially Aware'by Abbi Rouse
--GUEST WRITER--
Britons are becoming more responsible when it comes to managing their finances, an industry expert has asserted.
Speaking earlier this week, James Falla, director of Thomas Charles, reported that consumers are becoming more conscious of the effects on their money management that shopping with store and credit cards can have. He pointed out that the rates of interest attached to such plastic cards are "very, very high" and are among the most expensive levels of all types of borrowing.
Mr Falla also pointed out that a number of consumers are looking towards taking out a personal loan as a means of debt consolidation to help them get out of the red. In addition, he claimed people are beginning to recognise the need to change their spending habits when aiming to get in a more favourable financial standing. However, the director urged those who have taken out a loan to take care that they do not get back into debt once more.
He said: "It's no good just thinking that you can solve your debt problem by just getting a personal loan and then continuing to spend on the credit cards because you end up with a personal loan and credit cards. I actually think that people are starting to wake up a little bit, to take a little bit more responsibility for their spending - particularly with everything going on around them [within] the financial environment. People are starting to think: 'What am I going to do when it comes to paying this back?'"
The spokesperson also pointed out that the main reason for why many people develop unmanageable debt difficulties is because they fail to fully understand the demands on their spending. As a result, he advised that taking the time right now to sit down and work out their personal finances ahead of Christmas could see Britons find their monetary situation is in a "very good stage for the new year". Mr Falla also pointed out that such planning may help consumers avoid making a fiscal mistake in the present which will see them make repayments for years to come.
His comments come after research carried out by Thomas Charles, commissioned by YouGov, showed that 15 per cent of Britons are in serious debt problems, in which they owe at least 10,000 pounds via personal loans, plastic cards and other types of borrowing. Meanwhile, a quarter of consumers are set to avoid spending with credit cards during the festive season. The study also indicated that men generally are further in the red than women.
Although he reported that this time of year is often financially stressful, people are already looking to take steps in reducing their expenditure particularly through expensive methods such as credit cards. The director noted that consumers are beginning to realise that they can no longer splash out "willy nilly". Such a decrease in spending was attributed to many people's monetary standing becoming "tighter", as well as the impact of the recent credit crunch which has seen a number of lenders increase the interest rates attached to personal loans and other borrowing products as well as using stricter criteria when judging whether or not to grant consumers credit.
As a result those consumers who are concerned about their ability to manage their finances and are looking to get their spending under control ahead of the Christmas period may wish to take out a debt consolidation loan which could well leave them with more disposable income at the end of each month. However, upon receiving such a loan borrowers should look to ensure that they do not get themselves back into the red and always make repayments. Speaking on BBC One's Lunchtime News programme earlier this year, Peter Tutton from Citizens Advice warned that although most people can afford to take out loans and other types of borrowing, consumers can develop financial difficulties should they receive a demand for payment on something such as a utility bill which is larger than they had first anticipated.
About the Author
Abbi Rouse writes for All About Loans where visitors can apply online for tenant loans. We also specialise in homeowner loans, and self certification loans.
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Licensing Your Way to Wealth
by Michael Croix
There are two ways to bring an invention to market:
Licensing - granting rights to make, use and/or sell your invention to a company; or
Venturing - starting your own company to make, use and/or sell your invention.
Licensing requires little time and money and is extremely risk-free, while venturing requires a huge amount of time and money and is extremely risky. (There is only one exception to this rule that will be the subject of my next book Venturing on a Budget.).
When you venture your own product, you are competing with larger, more established and experienced companies for market share. When you license, you are partnering with these same companies to bring your product to market. Simply put, licensing allows you to leverage the time, money and experience of successful companies in order to reduce your risk, increase your chances of success, and create passive residual income.
My last successful invention cost my licensee (the company I licensed my invention to) over $100,000 to launch. The company is a large pet product manufacturer with years of industry experience and with well-established manufacturing, marketing, distribution and sales networks already in place. They already had successful products selling in stores, online, in catalogues and on television shopping networks. Best of all, they had personnel dedicated to do all of the work required to make my product a success…and they still fail more often than they succeed. However, these companies understand that it only takes a few successful products to make up for all of the losers and they have the resources necessary to absorb those inevitable failures.
Each year approximately 20,000 new products are introduced in the U.S. alone. Of these new product introductions, only about 20% are successful. Given these facts, it is extremely unlikely that you - having no experience and little time and resources - would be able to successfully introduce a new product on your own. Of course there are exceptions to this rule, but even if you did manage to introduce a successful product yourself, the risk-reward relationship still favors licensing. Here’s why:
Licensing produces passive income. Licensing will provide you with both time and money because you continue to get paid for as long as your product sells, regardless of whether you continue to work or not. Not only does venturing require huge amounts of your time and money upfront, it will continue to demand your time and money on an ongoing basis. Even if you do manage to make money venturing, your time will not be your own. Furthermore, if you stop working, the whole venture will most likely come crashing down around you. Licensing produces additive income. Another attractive feature of licensing is that royalty payments from successful inventions begin to have an additive effect. Let’s say you negotiate one successful licensing agreement per year for five years. Let’s also say that the royalty payments you receive each year from each license total $20,000. Year one you make $20,000, year two you make $40,000, year three you make $60,000, and so on. Without working any harder, your income increases significantly because you continue to get paid for your past successes.
Licensing reduces your risk. When you license your invention, your licensee assumes the entire risk and cost of bringing your product to market. You are betting on the company and they are betting on your invention. However, if they lose they are out tens, sometimes hundreds of thousands of dollars. If you lose, you are only out maybe a few hundred dollars and a handful of hours. Licensing increases your chances of success. By licensing your invention you are partnering with an industry leader who has the experience and resources necessary to compete successfully in their industry. You do not.
Licensing diversifies your investments. Any financial advisor will tell you the importance of having a diversified investment portfolio. Inventing is like investing in that you will own a piece of each company you license your inventions to. However, unlike investing, you don’t need a lot of money lying around to get started. By licensing to various companies across different industries you are diversifying your invention portfolio. You would not put your entire life savings into a single stock, so why would you bet the farm on a single invention idea?
Licensing gives you free expert advice. Let’s say you invented a new widget for the sporting goods industry. However, after you shop it around to all of the companies in the industry they all pass. You ask each of them “why?†in order to determine whether you can fix the problem(s) or whether your invention is inherently a loser. Either way, you get free input and advice from industry experts telling you how to improve upon your invention idea, or when you should move on to your next one.
About the Author
Michael Croix is an award-winning inventor and author of Inventing on a Budget and Cashing in on the American Dream. His unique approach to invention development teaches inventors how to minimize their risk and costs while maximizing their chances for success. His program includes over $10K in legal documents and free consulting. Visit http://www.inventingonabudget.com for more information.
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What Makes A Profitable Stock Trading System
by Mark Crisp
There is no success for those traders who have no previous formation. You want to have a stock trading system. An individual must have a stock trading system to gain success in stocks. You should know certain attributes about a high-end trading system, so that you might be able to develop a system for yourself or buy a trading system.
With no knowledge of stock market, and the planning that's included within an advantageous stock trading system, you would probably do better shooting blind A stock trading system makes your work simpler,organizes your work, and better permits the ability to watch profits run, while giving the freedom to cut your losses when they start to take place.
You want to have a stock trading system. They are essential when it concerns your stock trading career, and without a system, profit could be difficult to come by, and you might not ever see the type of money you might wish to see.
Some people may say that stocks are too risky. In fact it is a risk, but only if you don't have, and don't observe, a stock trading system. A system coordinates your work, and doesn't allow market changes to get out of hand. A stock trading system also simplifies your work, which reduces stress to allow you to keep your goals calmly in front of you.
A good trading system brings forth the subtle shifts in the market, which gives you the ability to take proper action. A stock trading system just might be the difference between failure and success. With no system, you are at greater risk of failure.
You may be wondering what your system looks like. What attributes does it have? One quality of a higher-end stock trading system is it has brought in a profit, and does so consistently. A good trading system watches the more important aspects of the market, that will allot you the means to make wise decisions to build your profit.
Good stock market trading systems also give you the control of your investing, and leave nothing to chance.This is in some fashion resulting form the ability to keep a close eye on the market efficiently. And finally, a nice trading system tracks your progression,and gives insight to what works and what doesn't. This is a key element, since it gives you the means to duplicate the process, which ultimately results to even more profit.
You'll want to get the most out of your trading system. You will not be able to just buy any system, and expect it to be magic. There are a few things that have to be done on your end. You need to be educated on your market for your stock trading system to pull in a profit. Learning the stock market may take time, and it's encouraged that you research mentoring programs.
An other element to your stock trading system, is it should be technical in the necessary areas, as well as basic in necessary cases. What that means is that for simple computing that would consume more time than needed, you may want to use technology such as software, and for different information, pen and paper would suffice. Do not complicate things! And lastly, when you do find a working stock trading system, continue working with it, and do not deviate. If the system works, then you have yourself a business.
About the Author
Mark Crisp Crisp Stocks http://www.crispstocks.com
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Investing in Micro Cap Companies
by Kristien Wilkinson
Putting your money on companies with big market capitalizations is often touted as one of the safer ways to invest in stocks. After all, these blue chips and mega cap companies are generally stable, secure, and are well-known industry leaders. They are traded on major exchanges such as Dow Jones and Nasdaq and are widely covered by the media. Thus, investors can easily get their hands on a wealth of corporate information about these companies. Clearly, playing with the big boys in the stock investment arena has its perks.
For the stout-hearted and adventurous investor though who can handle much higher risks, micro cap companies are worth looking into. Micro caps, also known as penny stocks, have market capitalizations of $50 million to $300 million although some companies can have as low as $6 million in tangible assets. They often trade for less than $5 per share but this range fluctuates depending on market performance. Penny stocks could outperform large and small cap stocks by as much as three percent. Because of their low stock prices, these stocks are quite attractive to retail and novice investors.
Micro cap stocks are traded on the Over-the-Counter Bulletin Board. While companies listed in the major exchanges need to meet minimum requirements such as net assets and number of shareholders, penny stocks are not subjected to any listing standards. The Securities and Exchange Commission requires micro cap companies to file financial reports except for those with less than $10 million in assets. These are helpful sources of information for investors although the accuracy and timeliness of the reports could at times be disputed.
Micro cap stocks are generally not covered by mainstream media and analysts which makes it difficult to obtain information about these companies. Investors must then do their own research. Relevant factors to look into are the 52-week high/low trading range, the price/earnings multiple, and the net profit and cash flow. Note also if the company files its financial statements on time and on a regular basis.
Most companies in the micro cap range aren't raking in major earnings yet and may take a long while to do so. The key is to study a company's business model and to be aware of any potentially marketable product or technological innovation that it plans to launch into the market.
Investing in micro caps requires a lot of effort in research and patience in waiting for the company to develop. Penny stocks have relatively low liquidity and as such, cannot be sold quickly to minimize losses should things go wrong. A lot of micro cap companies also tend to have short life spans and could fold up anytime.
The market of penny stocks is also teeming with fraudsters who illegally profit from unsuspecting investors. Unscrupulous brokers would buy stocks from a micro cap company at very low prices and re-sell them with an outrageous mark-up. Some micro cap promoters also create hype about a certain company to start a buying frenzy and increase the stock price. The overvalued stocks would eventually plunge back to its penny price once the hype is over and consequently wipe out the investors' money.
About the Author
Kristien Wilkinson is an online writer and contributor to http://www.tradingstocks.com
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In Search of the Perfect Stockbroker
by Kristien Wilkinson
Don't all investors wish they have one. While a few may get lucky in choosing their stockbrokers with minimal effort, the general rule is to flesh out your investment needs and do adequate research before hiring a broker. Picking a stockbroker is just as important as choosing your stocks. If you're going to entrust your money to these people, then you have to be certain that they have the intelligence, ability, and resources to do their job properly. Most importantly, make sure that they're not filthy felons who would run off with your money the first chance they get.
Stockbrokers can be classified into two types: the regular brokers and the broker-resellers. Regular brokers work for a brokerage firm and deal directly with investors while broker-resellers act as an intermediary between the investor and a larger broker or firm. The general opinion is that regular brokers are more reputable than broker-resellers since the latter may not have taken or passed all the necessary licensing examinations in order to qualify as a standard broker. This doesn't mean you should avoid all broker-resellers at all costs; you just have to be more careful in choosing resellers you'll be dealing with.
Regular brokers are further divided into two kinds: the full-service brokers and the discount brokers. If you want a more extensive array of services which includes financial advice, research and analysis, retirement planning, and investment tips, then a full-service broker is the one for you. These services will cost you a lot though; full-service firms charge higher commissions and fees than discount brokers. If you have the time and resources to do your own research on the stock market and you feel that you are fully capable of making intelligent investment decisions, then a discount broker should be enough to work for you. They simply execute your trades with no added frills and charge less than a full service brokerage.
In choosing a broker, it's better not to be content with any random person a brokerage firm assigns to you. Personally review his credentials. Choose someone with four to five years of experience and ask for a list of clients that you can contact for references. Check with regulation authorities if there have been complaints against him.
You also want a broker who doesn't have too many clients particularly if you decide to be an active trader. If your broker is too busy handling 300 other clients, you may often end up talking to a call center representative. There are instances, of course, when your concern can just as adequately be handled by a call center so don't abruptly close your account just because your broker wasn't able to answer all your calls. The point is, your broker should have sufficient time and focus to take care of your portfolio. However, if you're perfectly comfortable executing trades on your computer without having to talk to a human being, then you can pick out an online discount broker and execute your trading on the internet. Just make sure that the online broker has a competent customer service department to address your problems and concerns.
Finally, read the brokerage contract carefully and pay attention to the fine print. If the advertised fees seem to good to be true, look out for hidden costs or interests. Don't be afraid to ask questions especially if there's any part of the contract that's not clear to you. Remember, you're already taking on a considerable amount of risk by investing in stocks. You at least deserve to have a decent level of security in doing business with your broker.
About the Author
Kristien Wilkinson is an online writer and contributor to http://www.tradingstocks.com
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Is there a flu going around?
Oh me oh my...
I've been trying to get on here and post but I've had the flu for the last few days...
I guess money does have to rest!!
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Never Work Again; Generate Income For LifeGreetings Canadian-Money-Advisor.ca visitors!
I've got to get this off my chest -- before I explode!
Let the world’s top master of passive income generation teach YOU how to create mounds of passive income streams for yourself and/or your family --- absolutely without charge to you, whatsoever!
He can probably do more good for your prosperity than any other “mentor” you’ll ever meet.
Let him teach, train and personally mentor you to become a true master of passive income generation --- by joining in on an unprecedented two and a half hour rebroadcast of the keynote address from a sold-out, 1000-person, $2000-a-head conference Harv Eker recently held called, Never Work Again.
It's a wildly enriching experience that could be worth six or seven figures a year to you as well -- if you embrace my no cost proposition and take full advantage of it.
Here's the story in a nutshell...
All his life, famed marketing genius, Jay Abraham has spent 85% of his focus, energy and effort growing other peoples' businesses for them.
You’ve probably heard of his Midas-like business feats from more than one advisor you trust.
You see, Jay is the “Super-Consultant. “ He is the advisor to all the other advisors. The expert’s “expert. “ The top 10 online marketing gurus credit Jay for their start. Tony Robbins, Brian Tracy, Stephen Covey all turn to him for his ideas. So do twelve Inc. Magazine’s entrepreneur of the year winners.
But Jay’s business feats aren’t what I want to tell you about today.
You see, the other 15% of Jay’s time was used to engineer wildly profitable “Passive Income” deals, where he’d set something up -- walk away -- yet receive huge, mammoth, monster ongoing profit payments, revenue rivers, income streams for months, years -- even lifetimes.
But here's the big rub: Jay never looked at the "bottom line" impact that this 15% of his time had on 100% of his massive, eight-figure income.
Are you ready?
Well, to Jay’s utter embarrassment (and amazement), the 15% of his time Jay spent doing passive income deals produced well over 70% of the total income he’s earned over his life.
Duh? What's wrong with this picture, you'd probably ask. Well, that's what Jay quickly realized, too, when he finally did the math.
He has never concentrated the bulk of his attention, time or effort on “Passive Income” deals before. Yet, that's where the big money, easy money, and so many profit windfalls came from.
But all that changed four months ago when a good friend, Harv Eker, called up and asked Jay to create a killer presentation and training program for an exciting new seminar he developed.
The title of Harv’s program was "Never Work Again" and the premise was teaching attendees to this $2,000, 4-day event, a broad array of proven ways to create significant passive income.
Well, Harv has been a long-term devotee, client and student of Jay’s brilliant work and career. He called Jay because he'd seen Jay engineer so many six, seven, and even eight-figure passive income deals for himself and partners. He was the first to recognize that Jay knew how “Passive Income “ was really generated.
Now Jay confessed to me he was somewhat taken aback at first. Again, because he'd never thought of himself as a master of passive income. Jay has always seen his primary role being that of marketing expert---first and foremost.
But when Jay took the time to carefully review his last 30 years of achievements, he came up with over 100 masterful, passive income deals he’d done, worth nine figures combined to everyone involved.
Jay quickly realized then and there that... yes, he was probably “THE” world expert on no-cost, low-cost and little cost passive income generating strategies.
So Jay agreed to develop a two-hour, no-nonsense, non-theoretical keynote presentation for Harv's sold-out conference. He also (reluctantly) agreed to build the world's first (and only) long-term private mentoring program to teach people how to create their own passive income successes.
Then the work began. Jay took every killer “Passive Income “ deal he’s ever done and analyzed and categorized it into ten, different pathways of income-generating "silos," if you will.
He also studied a spectrum of passive income transactions that a lot of other prosperous people Jay knows have done.
He put together a short-course primer to die for. Seriously. Here's why:
Jay actually shared with Harv's audience 25 separate success stories, along with explanations of precisely how each transaction was done.
He identified each one of the ten easiest ways to generate Passive Income--anywhere in the world.
He showed attendees how to generate $1,000; $5,000; $10,000 -- even $100,000 of monthly passive income bonanzas -- just by doing something once, but being paid for it forever.
Jay taught them the fundamentals of what he called "The Tom Sawyer School of Business" -- this is when YOU get everyone else to do the work; but you keep most (if not all) the money that comes in.
He took the time to also demonstrate how simple and quickly a passive income deal can be put together.
The result was a wildly appreciative audience.
I listened to the recording of his session and quite candidly, Jay’s presentation was stratospherically different than any other presenter there.
Jay openly gave people there the how, the what, the why and the exact details of how he made all these windfall profits happen.
Jay was actually surprised at how well people responded. Hundreds of people enrolled in his mentoring process. Nearly two thousand people told Jay his session was a mind-blowingly powerful experience.
I persuaded Jay to share with you the same lessons he gave to Harv's group.
Why would he do that when Jay was paid a king’s ransom to do it there?
Because—I told Jay my subscribers were “take-action” people who’d “JUMP” at the chance to learn how to engineer Passive Income deals for themselves. I promised Jay some of you would be so turned on by what you’d learn that you’d want Jay to mentor you long-term.
So he agreed to let you listen to the audio of his keynote presentation, without charge.
But there is a rub. When Jay went to turn the recording of his presentation into an audio broadcast that he could play for you -- it was flawed. Bad acoustics, poor recording, tinny-sounding, voice reproduction -- all made the recording unusable.
So Jay went into a studio and re-did his entire presentation for you -- with one very special addition.
He added nearly 30 minutes MORE of examples, instruction and proven passive income-generating methods that Jay did not share with Harv's group.
Jay has agreed to make this “Special Edition”, expanded presentation available to you –without charge next
week--along with the irresistible chance to be personally mentored by him for a month – GRATIS.
His reasoning will become clear when you listen to the stunning array of ideas he’s sharing.
But he’s only willing to do that now for a small test group of my best subscribers.
Here's the place to get in on this rebroadcast if you’re game.
Frankly, everyone can't listen. We only have 1,000 spots available on three different rebroadcast dates...our list is 50 times that size.
If you're interested, sign up now! But don't do it if you won't use the privilege. You'll understand why when you register.
I've got to go, so visit http://store.abraham.com/c/a/reg/mopi.html?from_location=mpimlmlcap if passive income interests you in any way. Don't if it doesn't.
Sincerely,
Monty Loree - Founder
Canadian-Money-Advisor.ca
P.S.
Jay’s ten pathways to Passive Income and wealth will really rock your income generating boat. I hope you get in on one of these broadcasts.
Read more about Jay's Offer
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Getting excited about the next Canadian Tour of Personal Finance blogs!!
I received an email from CanadianCapitalist who mentioned that there was some good interest in firing up the Canadian Tour of Personal Finance blogs for the fall/ winter season.
I thought I would throw out a quick note to previous participants to see who all is interested ..
I enjoyed the Tours that we had in the springtime, and think that with a little tweeking and delegating, we can make the fall/winter season even more successful.
I spent a few hours enhancing the event info web pages...
/about-canadian-tour.html
/tour-event-info.html
/tour-participants.html
/tour-register.html
FIRST FALL DATE
I was thinking that November 18 would be a good date for the first Tour date. Might as well get a good start on things.
I will host this tour to make it easy on everybody.
SCHEDULING FOR TOUR DATES
Should we have Tour dates every 2 weeks, or once a month? Again I never want to intrude on people's busy schedules
MAXIMUM NUMBER OF PARTICIPANTS PER TOUR
There was some question last year about number of participants.
I think that 10 is a good number, however there were other suggestions regarding limits to participants for each event.
What is the optimum number of participants we should have for each tour.
SUBMIT ARTICLES CENTRALLY TO Canadian-Money-Advisor.ca??
I'm interested to know if people want to be able to submit their articles for central review to my site. It would show case your posts in a central location, give the Host a place to look at them all, and give you automatic links back to your blog posts from CMA. !
There are some good advantages to it, however it would take a few hours for me to put that system together.
Let me know if you're interested in that type of system.
COMMENTS / QUESTIONS?
I would be interested to hear your comments and questions.
I've set up a discussion area for the Tour on my forum
Canadian Tour Blogs Discussion
You have to register / login before you can comment.
RE: Blog Podcasts
I am interested to know if there are any personal finance bloggers who want to do a blog podcast with me. I like the idea of talking about personal finance with other bloggers and have done about 12 podcasts so far with people all over Canada.
Let me know if that interests you.
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More Cash for Fall Fun - MBNA Canada ChequesI got this letter from MBNA today with some MBNA MasterCard cheques
This is how MBNA sells you on using your credit limits
I think it's important to illustrate to Canadians how they get sold on credit. This is a delicious offer for use of credit. If I was short of cash and desperately wanted a holiday or christmas presents, this offer would be almost unresistable.
MBNA Canada sends this out to all of their clients which are hundreds of thousands. ( I'm not sure how many clients MBNA Canada has ) You can imagine that they're going to sell alot of credit to their existing clients by sending them convenient cheques to use.
It's always good for people to spend some time and figure out if they really need the cash (debt). This sales material makes it very tempting and very easy for consumers to get credit.
-------------------------------------------------------------
More Cash for Fall Fun.
Your Credit Limit is $xx,xxx
RE: Your account ending in xxxx
Dear Monty Loree,
There's a crisp feeling in the air that only comes in late fall. And there can be big savings in the air when you transfer a balance to your MBNA MasterCard account. You could start saving money right away.
With your credit limit of $xx,xxx, the enclosed Access Cheques* and you MBNA® MasterCard® credit card, you're ready to do what you want, when you want.
Use the extra cash to...
- Consolidate your Line of Credit
- Accelerate your home renovation plans
- Splurge on your holiday shopping
- Head to a vacation spot of your choice.
Freeing up cash means more fun for you. Take advantage of the amazing rate today.
Getting extra cash just got easier. Simply call 1.866.798.1981 to request a Balance Transfer or write a cheque to yourself and deposit it into your chequing account.
Sincerely,
Brent Bishop
Senior Vice-President of Marketing
MBNA
P.S. Write a cheque today or call to activate this amazing offer
Disclaimers Below
Some facts we want to know:
• The transaction fee for Cash Advances, including the enclosed cheques, is 1% of each transaction (min $7.50).
• Payments will be applied to the portion of your balance with a lower interest rate before the portion with a higher interest rate.
MBNA - Over please
Using your Access Cheques couldn't be simpler:
1. Identify a high-rate amount you'd like to pay off, somewhere you'd like to go, or something you'd like to buy. Or, you can even have funds transferred directly into your chequing account.
2. Write a cheque just you would a personal cheque.
3. Start enjoying what you want immediately!
Cheque Cash Advances are Cash Advances. They are processed as Cash Advances and must be repaid and otherwise dealt with according to the terms of your Credit Card/ Account Agreement and are subject to credit availability. These cheques cannot be used for repayment of any MBNA account.
MBNA Canada will allocate your payments to balances ( including new transactions ) with lower Annual Percentage Rates before balances with higher Annual Percentage Rates.
MBNA, MBNA Canada, MBNA Canada Bank, the MBNA logo and the tree symbal are all trademarks of FIA Card Services, National Association, used by MBNA Canada Bank pursuant to licence. Mastercard is a registered trademark of MasterCard International, Incorporated, used pursuant to licence.
© 2007 MBNA
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WestcorCredit.com another Advance Fee Loan Scam Site?I've been getting some complaints about Westcorcredit.com .
This is a quote from Westcorcredit.com's site:
We have helped thousands of people get the money they needed when they had trouble getting a loan from other sources. We believe everyone deserves a fresh start. Our main focus is not how you have paid in the past, but how to get you pay now.
I have a problem with this since the site is only a month old.
The site is registered to an individual, Matt Williams, and not a company.
There are people complaining about Westcorcredit.com already
/comments.php?PostID=1212
My Recommendation:
Westcorcredit.com site appears to be an advance fee loan scam website. If we're getting complaints already, it means that people should STAY AWAY from this site.
This is the whois on the site:
TUCOWS INC.
Domain Name: westcorcredit.com
The results below are provided by TUCOWS INC. (whois.tucows.com)
Registrant:
Matt Williams
1617 Queen St. E TOronto,
ON M4C 1E5 CA
Domain name: WESTCORCREDIT.COM
Administrative Contact: Williams, Matt
mattwilliams1986@hotmail.com
1617 Queen St. E TOronto, ON M4C 1E5 CA
+1.4166687305
Technical Contact: Williams, Matt mattwilliams1986@hotmail.com
1617 Queen St. E TOronto, ON M4C 1E5 CA
+1.4166687305
Registration Service Provider: Ecommerce, Inc.,
registrars@ecommerce.com 800-861-9394
http://ecommerce.com UNLIMITED Storage Space,
3 TERRABYTES of Monthly Transfer & up-to 16 domains, starting at $3.95!
LIFETIME FREE DOMAIN REGISTRATION + FREE FEATURES INCLUDED. ONLY AT ECOMMERCE.COM Registrar of Record: TUCOWS, INC.
Record last updated on 02-Oct-2007.
Record expires on 03-Oct-2008.
Record created on 03-Oct-2007.
Domain servers in listed order:
NS10.IXWEBHOSTING.COM
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Money For Nothing. Never Work Again??!!Greetings from Canadian-Money-Advisor.ca
There's a way you can stop worrying. Stop efforting. Stop struggling -- and earn multiple streams of passive income forever, or certainly for a long time to come.
I'm not talking about network marketing. I'm not talking about real estate. I'm not talking about starting a business. I'm not talking about trading options, either.
I'm talking about capitalizing on capitalism; getting control, access or "profit" rights to all kinds of overlooked passive income situations that most business owners never see or seize.
You get to play off of dozens and dozens and dozens of different businesses -- without having to manage, work on them -- or even come in.
We're talking about doing something once, then getting paid for (and from) it forever -- for months, even years, to come.
We're talking about being able to go into any city -- anywhere in the world and finding not one or two -- but literally thousands of businesses with untapped passive income situations -- that you, alone can mine.
Make $1,000; $5,000; $10,000 a month per deal and the revenues quickly mount up -- all while you're not there. Mostly without you personally having to do anything but set the deal up in the beginning.
Control is better than ownership or management.
Just ask the partners of my good friend Jay Abraham and his wealthy clients who've made nearly $500 million in passive income over the years.
Generating passive income sure beats working hard for a living.
Years ago, a good friend of mine wrote a book called "The Lazy Man's Way to Riches." Well, passive income generation has to be the closest thing you'll ever learn about.
Almost no one knows this fact, but...
My good friend, marketing super consultant, Jay Abraham is also considered one of (if not THE) world's leading expert on mastering passive income generation.
Jay has set up over 100 "monster successful" income deals for himself, partners and clients all over the world, in all sizes, types and kinds of business situations.
You name the industry, type of business or country and Jay has found ingeniously simple ways to mine a small fortune from it passively -- for himself, his partners or clients.
Earning tens of thousands of dollars monthly without working may not be YOUR idea of fun... but Jay has found it to be the most joyous, enriching and creatively stimulating thing anyone can do to amass a small or large fortune - -without risk. No capital is required, either.
Would you like to gain a short-course introductory education in how it's done?
Would you also like to learn about nearly 25 actual, killer passive income deals Jay has personally engineered?
Would you even like to know specific, instantaneous ways you -- yourself -- could start setting up as many passive income streams as you possibly want?
OK. Then join Jay on a "Special Edition" broadcast he is doing next week of a presentation he originally created as the keynote for Harv Eker's breakthrough "Never Work Again" conference. People paid $2000 a person to attend and hear Jay's far reaching, breakthrough ideas.
It's a fast-paced, 2 ½ hour adventure in ten, exciting Passive Income areas you can mine immediately.
It shares the specifics on actual deals Jay has accomplished.
It describes the precise process Jay follows to do the deals.
It provides surprisingly candid instruction in how you can do these kinds of deals yourself.
It has nothing to do with business building. Marketing is far removed from the powerful ideas you're about to learn.
These two hours should transform the rest of your economic life.
Two hours could propel your income into the stratosphere.
Two hours could turn you from a wage earner or struggling entrepreneur -- into a prosperous master of passive income.
Plus, because he's a great friend of mine, Jay is even going to work for a full month with 100 people from my group -- without charge -- as a daring performance "challenge"--to prove to the press what you can do. And the monster income you can generate--when Jay Abraham personally mentors you.
Jay regularly sells out his own seminars at $25,000 per person. He’s paid $5,000.00 per hour, $50,000 per day when he advises someone privately.
Plus, frankly, he has never offered unique information like this before at any public or private session he’s ever held.
I doubt if Jay will ever offer it without charge, again.
But, for one week, we're letting three small groups of our email subscribers listen to Jay Abraham tell you exactly how to create gushers of passive income streams for yourself.
If you're at all intrigued -- enroll quickly.
But don't sign up unless you're committed to show up.
Let yourself down -- but please don't let me and my commitment to Jay’s daring experiment down.
I promised Jay we had high quality, "Take-action" people on our list - - who'd "JUMP" at the chance to hear this presentation - - gratis. I felt a number of you could pounce on Jay’s offer to mentor you without charge for a month, too -- once you saw how enriching his ideas can be.
This broadcast is intended only for serious people on our list who are ready to throw off their shackles and catapult themselves to a place where they do something once and get paid for it forever. If you can’t see yourself deserving, earning and receiving mounds of Passive Income streams - - please don’t respond.
To me, Passive Income represents the ultimate form of wealth creation, financial security and prosperity you could achieve.
Find out exactly how to do so by enrolling at http://store.abraham.com/c/a/reg/mopi.html?from_location=mpimlmlcap
Regards,
Monty Loree
P.S.
I've known about Jay Abraham and his reputation as being a personal consultant, advisor and mentor for over 20 years. I've learned alot about multiple income streams from Jay.
This is a mammoth thinker, a true wealth building giant and an expert whose ideas can redefine your future financial destiny and life.
Enroll Today at NO CHARGE!
----------------------------------------------------------------
I'm working with Andrew Petrick who wants to let people know about this Jay Abraham program. Andrew has taken Jay's program and has done pretty well with it.
I've listened and read some of Jay Abraham's materials. He's legendary in the marketing world, and has done a great deal of work in the Joint venture business arena.
This is another opportunity that Canadian-Money-Advisor.ca would like to help out our visitors with.
I recommend that you check it out if you're looking for income generating opportunities in Canada
It's absolutely FREE to have a look, but there are fees if you are interested in pursuing the opportunity.
Monty Loree
Read more about Jay's Offer
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Canadian Dollar - Another Record High Level 1.0722 !!The Canadian Dollar hit another record level against the U.S. dollar today. It reached a high of $1.0722 or .9326
$1 CDN = $1.0722 USD
This happened during the day on November 2, 2007
I called Bank of Canada yesterday, and asked them about these high levels and the conversation is listed below.
The lady at the Bank of Canada mentioned that they only have the dollar recorded since 1950. If you want history prior to that there is a book titled: A History of the Canadian Dollar by James Powell
Today's high rate came after the previous high level of 1.0617 which was on October 31, 2007
It's interesting when the Canadian Dollar gets into unprecedented highs. These are historic levels !
Sources: BNN TV and xe.com
Reuters
Tags: Canadian Dollar historical high levels, Canadian Dollar makes history again
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hudsoneliteadvisors.com - Advance fee loan scam site?Ted Reid pointed out this site and I thought I would take a few minutes to do my reporting on it.
For starters, the owner is using contactprivacy.com which is a call screener.
This is the message on contactprivacy.com's site:
Welcome to contactprivacy.com.
Use this site to contact the owner of a domain name protected by the WHOIS Privacy Serice. This service protects the privacy of domain name holders in the WHOIS system.
Please note that domain name contacts are not obligated to respond to requests.
Enter the domain you would like to contact. Please do not enter 'www' in your query.
The phone number listed as their contact +1-416-538-5457 belongs to contactprivacy.com and not the site owner.
This clearly means that you're NOT going to have an open discussion with this site owners.
On the application page http://hudsoneliteadvisors.com/page7.html they're asking for your ( S.I.N. ) Social Insurance Number and it's not a secure site.
Finally this site was created on 03-Aug-2007. which means it hasn't been around for any length of time to develop any credibility.
I DO NOT RECOMMEND this site as it appears to be a lead generation site used by email spammers. There is no trustworthiness built into this site at all.
Thanks Ted Reid for pointing out this site!!
-----------------------------------------------------------------------
Whois hudsoneliteadvisors.com
TUCOWS INC.
Domain Name: hudsoneliteadvisors.com
The results below are provided by TUCOWS INC. (whois.tucows.com)
Registrant:
Contactprivacy.com
96 Mowat Ave
Toronto, ON M6K 3M1
CA
Domain name: HUDSONELITEADVISORS.COM
Administrative Contact:
contactprivacy.com, hudsoneliteadvisors.com@contactprivacy.com
96 Mowat Ave
Toronto, ON M6K 3M1
CA
+1.4165385457
Technical Contact:
contactprivacy.com, hudsoneliteadvisors.com@contactprivacy.com
96 Mowat Ave
Toronto, ON M6K 3M1
CA
+1.4165385457
Registration Service Provider:
iPowerWeb, hostmaster@ipowerweb.com
888 511 4678
602-307-5438 (fax)
http://IPOWER.com
This company may be contacted for domain login/passwords,
DNS/Nameserver changes, and general domain support questions.
Registrar of Record: TUCOWS, INC.
Record last updated on 03-Aug-2007.
Record expires on 03-Aug-2008.
Record created on 03-Aug-2007.
Domain servers in listed order:
NS1.IPOWERDNS.COM
NS1.IPOWERWEB.NET
Domain status: clientTransferProhibited
clientUpdateProhibited
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trinityfinancialgrp.com Another Scam site?Ted Reid was good enough to point out this site as it looks a little scammish.
I thought I would check it out so as to warn our readers as we have been about advance fee loan scam websites .
Below is the whois information about the site:
I've hi-lited the areas that seem bogus, including the phone numbers and postal codes used as the sites address. As well the site was established on August 3, 2007 which means that it's not a long standing and mature site.
On their http://www.trinityfinancialgrp.com/application.html application page, they're showing that they're using Geo Trust SSL security. The page IS NOT secured!!
The contact page lists the following:
Trinity Financial
241 47E Ouest
Quebec
QC
G1H 5H92
The site owners lives in Ontario, however Trinity Financial is listed somewhere in Quebec. Hmmm!!
I recommend that you DO NOT use this site, as it's too suspicious for being a scam.
Thanks Ted Reid for the heads up on this site!
---------------------------------------
Whois trinityfinancialgrp.com
DIRECT INFORMATION PVT LTD D/B/A PUBLICDOMAINREGISTRY.COM
Domain Name: trinityfinancialgrp.com
The results below are provided by DIRECT INFORMATION PVT LTD D/B/A PUBLICDOMAINREGISTRY.COM (whois.PublicDomainRegistry.com)
Registration Service Provided By: MAXIPOINT LTD.
Contact: +1.4259300840
Domain Name: TRINITYFINANCIALGRP.COM
Registrant:
n/a
Jasmyn James (newagelen@gmail.com)
2207 kingston Rd.
Toronto
Ontario,m1m 1p1
CA
Tel. +003.416712294
Creation Date: 03-Aug-2007
Expiration Date: 03-Aug-2008
Domain servers in listed order:
win2.maxipointservers.net
win1.maxipointservers.net
Administrative Contact:
n/a
Jasmyn James (newagelen@gmail.com)
2207 kingston Rd.
Toronto
Ontario,m1m 1p1
CA
Tel. +003.416712294
Technical Contact:
n/a
Jasmyn James (newagelen@gmail.com)
2207 kingston Rd.
Toronto
Ontario,m1m 1p1
CA
Tel. +003.416712294
Billing Contact:
n/a
Jasmyn James (newagelen@gmail.com)
2207 kingston Rd.
Toronto
Ontario,m1m 1p1
CA
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Bill Collectors - The 7 Biggest Lies Exposed - By Richard Cooper
- I am from the Legal Department.
From my experience less then 2% of all debts listed to a collection agency ever result in formal legal proceedings and in most cases legal costs required to initiate a lawsuit have to be advanced by the collection agency. From a business perspective, it makes no sense to throw good money after bad hoping to recover the legal costs and the debt if you do not have enough assets available to satisfy the judgment being sought after. It's just not worth it to the collection agency. Bill collectors use the "legal department" threat only because it is scary and most people don't know better. The fact is that most bill collectors sit in a tiny 3"x 3" cubicle and pretend to be someone they really aren't on the phone.
- . I am going to garnish your pay cheque.
In order to get any piece of your pay cheque, the bill collector needs a judgment from a court in their favour but the collectors will not seek a judgment unless they have reason to believe that you have enough assets to satisfy a judgment. Pursuant to Section 7(2) of the Wages Act (Ontario), no more than 20% of your wages may be garnished. A creditor can bring a motion to increase the amount of wages that may be garnished but a debtor also has the right to bring a motion to have such amount decreased. I have heard Collectors tell people they will garnish 50% of their pay but the truth is that even if they get a judgment, garnishments rarely exceed 15-20% of pay. Again they only use the threat because it scares people and most don't know any better.
- . If I don't have payment by 4 p.m. today, we are (Insert threat here).
Bill collectors are paid a commission to do their job and so are the managers that are breathing down their necks in order to hit their targets. Some aggressive bill collectors can make six figures annually if they push people hard enough. They will tell you anything if they feel that it will result in a payment and a bigger commission cheque for them.
- . Pay in full, monthly payments are not an option.
They want full payment from you because they make more money off you when you pay in full. Payments are always an option; in most cases going directly to the creditor will get you a monthly payment plan. It won't fix your credit but you will at least be able to stop the demand for full payment.
- . Collectors can call you as much as they like.
Pursuant to Section 22(6) of R.R.O. 1990, Regulation 74 to the Collection Agencies Act (Ontario), there are restrictions on the frequency of calls that collection agencies can make to you. Despite what they may tell you a bill collector cannot harass you. If you register a letter requesting the collection agency to communicate with only in writing the calls should stop otherwise you can escalate their behavior to their ombudsman or provincial ministry to take further steps.
- . Collectors can call and harass your family, friends and neighbours.
A collection agency can only contact a third party to confirm your home address and telephone number or your employer to confirm your employment, title and business address; that's it (Section 22(3) of Regulation 74 to the Collection Agencies Act). If the collector divulges details about the debt or tries to embarrass you, there are steps you can take to deal with and stop this behavior.
- . Bill collectors can talk to you any way they feel.
Bill collectors can be obnoxious and rude; many think that insulting people will get the debt paid. Collection laws prevent this type of behavior reoccurring if you escalate it and deal with the issue. If you feel that they have mistreated you by using profanity, intimidating or coercive language, you can certainly stop it. They will most certainly deny the activity so a tape recorded conversation or voice message will be your best friend here.
Collection agencies and bill collectors have a bad reputation becasue they are a business like any other whose goal is to generate profits for its shareholders; its their job to push you hard to pay. There are ways to deal with the debt and their behavior but it takes time and a certain investment in researching your rights. Try not to avoid the debt but find a way of dealing with it. The only way to stop the collection activity is to pay the bill or go bankrupt. If you can pay the bills in full, do so as soon as possible.
If payment of your bills is not an option due to extreme financial hardship, you may wish to explore bankruptcy by consulting with a Trustee in your local yellow pages. Going bankrupt will most certainly deal with the debt but since it's detrimental to your credit rating, it should only be used as a last resort. Also, a Trustee is a court appointed agent for your creditors so even though you pay them for their service, the Trustee is looking after your creditors' best interests. Your debts are wiped out but so are most of your assets subject to certain limited exceptions and your credit report shows the effect for 7-10 years.
Debt settlement should be considered as an alternative to bankruptcy since it is quickly becoming one of the newest and best options in Canada to retire debt quickly and ethically. A debt settlement company will act as your agent, take all the harassing calls and negotiate a settlement with your creditors. Once the settlement is paid, the balance is written off and your credit report is updated to reflect that the debt is finalized. The time frame to settle debt can be anywhere from 1 month to 36 months depending on your ability. This is often the least expensive, least damaging to your credit and the fastest path to debt freedom.
Remember that bill collectors make a living off of trying to scare and intimidate people so they can earn a big commission cheque. Consider the source when they call and don't let bill collectors push you around, you have rights and can fight back and win!
With over 12 years in credit & collections behind him in Canada Richard Cooper is now Founder & CEO for Total Debt Freedom Inc. Canada's most respected debt settlement company. Originally conceived for the mortgage community in 2003 to help fund more sub-prime mortgages and fix turn downs due to bad credit; Total Debt Freedom also offers debt settlement plans up to 36 months for those that aren't homeowners.
www.totaldebtfreedom.ca
Article Source: http://EzineArticles.com/?expert=Richard_G_Cooper
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2012-11-13 23:08:19
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same deal,,these criminals sent a bill saying i owe 18,000$..hilarious,,they call me 5x per day..i am taking rogers to court..small claimes..why not y
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2012-11-13 13:18:44
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I keep receiving emails and phone calls from people who think they can simply ignore the letters from these Civil Recovery lawyers.
Don't.
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2012-10-18 08:23:07
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2012-09-30 20:03:01
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I had a telus pay as you go phone from 2003 2008 and now cbv collectons is claiming that i owe over 1500 dollars, the last time they called i called
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2012-09-25 10:19:31
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2012-09-16 16:42:15
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I am sick of all you so called legal counsel, wanting money from me , there was a reason i was stealing the items in the first place, i have no money!
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2012-08-31 11:32:19
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so i went in zellers and i baught bus tickets. then walked around playing with toys, and i was with a friend, we're both adults who like stupid toys.
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