Canadian Money Advisor 2005

Helping Canadians Understand Their Money & Personal Finance since 2005 BLOG

ZipLeaf Canada - Site Review
- Posted January 28, 2009 by Monty Loree
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ZipLeaf Canada - Site Review

I was asked to do a review for Zipleaf Canada.

January 28, 2009

ZipLeaf Canada is considered to be one of Canada's largest online business directories. This is nice and convenient if you're looking for businesses to help you as an individual or business.

As of this writing, Zipleaf Canada business directory has 230,000 + businesses listed. This is a huge resource to find competitive businesses in the field that you require.

It's also good to note that if you have a business that you would like to promote to other businesses and consumers, Zipleaf Canada business directory would be a good place to advertise.

The beauty of advertising your business on the internet is that people can find you, 24 hours a day, 7 days per week. They can read about you on Zipleaf Canada and then call you when they have a free moment. I saves your business a great deal of time.

Having 230,000 businesses listed, means that Zipleaf is a company that knows how to manage companies and their info. The only companies with more listings would be companies like the yellow pages.

If you get a chance, please Check out Zipleaf Canada business directory at the link above.!

Above is a sponsored post

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PM Harpers $34 billion Deficit - VIDEO
- Posted January 26, 2009 by Monty Loree
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PM Harpers $34 billion Deficit

Listening to CBC I hear that the Canadian Federal government is going to do $34 billion in deficit spending this year. This makes me furious.

Canada set to post C$34 bln budget deficit-PM aide

OTTAWA, Jan 22 (Reuters) - Canada will post a deficit of C$34 billion ($27 billion) for the coming fiscal year but will return to a surplus position in five years, an aide to Prime Minister Stephen Harper said on Thursday.

The aide also said Canada will have a budget deficit of C$30 billion in the following fiscal year. The Conservative government will unveil its budget on Jan. 27.

($1=$1.26 Canadian) (Reporting by Randall Palmer, writing by Frank Pingue; editing by Peter Galloway)

This blog is for personal finance and credit etc. The relationship of a $34 billion deficit to personal finance is pretty easy. If the government isn't making the income it needs through taxes, then it needs to cut spending. plain and simple

This sends a sharp message to consumers that it's ok to get into debt, and to run up your debt level to horrendous levels.

This , in my opinion is the wrong message.

Canadians need to understand that if they have to cut back with benefits because we can't afford them, then that's what we need to do.

Canadians need to cut back anyway. They're too much in debt, and the weight of debt per household is harming alot of families. For the federal government to take on more debt is adding to that weight load.

My other point is this: it took 10 years to pay down $100 billion in federal debt. and these were in abundant times. Canada was very prosperous.

The next few years are going to be slower as far as federal income goes. If the federal government takes on $34 billion in debt, how long is that going to take Canadians to pay down the next time.

How many exports are we going to need, to pay down the debt. How much natural resources are we going to need to sell outside the country to pay down the debt?

My impression is that we should not do deficit spending under any circumstances. If the federal government can't afford to pay for something with existing revenue, then it would send a better message to Canadians to NOT spend the money.

Just my quick opinion.

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Cheap Life Insurance in Canada
- Posted January 25, 2009 by Monty Loree
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Cheap Life Insurance in Canada

The people who need life insurance the most are often the ones who let it go or who put it off. In most cases, these are young families with children at home, and they put off buying a life insurance policy because money is tight for these families. Unfortunately, the results can be tragic, when one parent or provider dies unexpectedly and leaves a young family with a drastically reduced income, not to mention hospital, funeral home, and burial expenses.

For families such as these, the best route is not to skip life insurance altogether. Clearly life insurance is a necessity, not a luxury. But the realities of their economic situation may dictate that they buy the cheapest, most economical plan available to get the coverage they need.

There are two considerations in looking at cheap life insurance plans. First, you have to look at what kind of life insurance is cheapest for you, and second you have to look at which companies can offer you the best deal on that kind of life insurance.

What kind of policy to buy

In terms of the sheer cost of monthly premiums, comparisons show that in almost every case, term life insurance is the least expensive. This is because it is more often purchased by younger, healthier people who are less likely to require a payout by the insurance underwriter. Fortunately, it is also the kind that best serves the needs of young families. You can purchase term life insurance for both parents for a predetermined period that covers the stage of life when you have dependents—perhaps 15, 20, or 25 years.

However, your needs may not be best served by term life insurance. If you have no dependents, or if you are looking to buy a policy that will last the rest of your life, or if you don’t need much coverage, you may find that whole or guaranteed life insurance suit you best. Again, in terms of sheer monthly premiums, term is cheapest for the same amount of coverage, but with one of these other kinds of policies, you may be buying far less coverage than you would if you bought term. If you are single or your kids are independent, and you can buy less coverage than a young family would buy, you may find that it is cheaper for you to go with some other kind of policy.

Who to buy from

Of course, once you have determined what your needs are, you then need to determine who to buy from. There is only one way to find the cheapest plan that gives you the coverage you need. You must do your research. The best way is to get online. There are several websites that compare life insurance rates for companies all over Canada; start checking into several of these. You only have to offer some basic information about yourself to get preliminary quotes, and these sites can show you dozens of companies and the rates they offer. Then you can be sure you have gotten the cheapest life insurance.

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Advance Fee Loan Scams in Canada - And Other Scams
- Posted January 16, 2009 by Monty Loree
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Advance Fee Loan Scams in Canada - Don't get scammed

I did a search on facebook for advance fee loan scam and came up with this page. It's full of good information about scams on the internet.

The page was put together by: Ramona Heiner (Vancouver, BC)

The Facebook page is entitle: TRUST

Internet & Technology - General
Are you really safe in the internet at all nowadays?

We all got to be so careful....alot of crime has reached the new technology era "internet"...cyber crime can be done in loads of ways...I particulary want to talk about online scam and fraud done via emails, chatrooms, dating websites etc...the internet has become a massive medium, on which criminals found interest to play with.
Becoming a victim of a so called "sweetheart - scam" makes me now realizing how carefully we got to be.
With making up this group i want to warn others and give support to victims of internet it happens everywhere!
Read the news and inform yourself, help yourself, help others and be safe!

DON'T TRUST ANYONE, especially if we have not met someone in real life before...

A) Common elements of Fraud:

Fraudulent cheques and money orders are key elements in many advance fee scams, such as auction/classified listing overpayment, lottery scams, inheritance scams, etc, and can be used in almost any scam when a "payment" to the victim is required to gain, regain or further solidify the victims' trust and confidence in the validity of the scheme.

The use of cheques in a scam hinges on a U.S. law (and common practice in other countries) concerning cheques: when an account holder presents a cheque for deposit or to cash, the bank must (or in other countries, usually) make the funds available to the account holder within 1-5 business days, regardless of how long it actually takes for the cheque to clear and funds to be transferred from the issuing bank.The cheque clearing process normally takes 7-10 days and can in fact take up to a month when dealing with foreign banks. The time between the funds appearing as available to the account holder and the cheque clearing is known as the "float", during which time the bank could technically be said to have floated a loan to the account holder to be covered with the funds from the bank clearing the cheque.

The cheque given to the victim is typically counterfeit but drawn on a real account with real funds in it. With a piece of software like QuickBooks and/or pre-printed blank cheque stock, using the correct banking information, the scammer can easily print a cheque that is absolutely genuine-looking, passes all counterfeit tests, and may even clear the paying account if the account information is accurate and the funds are available. However, whether it clears or not, it will eventually become apparent either to the bank or the account holder that the cheque is a forgery. This can be as little as three days after the funds are available if the bank supposedly covering the cheque discovers the cheque information is invalid, or it could take months for a business or individual to notice the fraudulent draft on their account. It has been suggested that in some cases the cheque IS genuine - however the fraudster has a friend (or bribes an official) at the paying bank to CLAIM it is a fake weeks or even months later when the physical cheque arrives back at the paying bank.

Regardless of the amount of time involved, once the cashing bank is alerted that the cheque is fraudulent, the transaction is reversed and the money removed from the victim's account. In many cases, this puts victims in debt to their banks as the victim has usually sent a large portion of the cheque by some non-reversible 'wire transfer' means (typically Western Union) to the scammer and, since more uncollected funds have been sent than funds otherwise present in the victim's account, an overdraft results.

A central element of advance fee fraud is that the transaction from the victim to the scammer must be untraceable and irreversible. Otherwise, the victim, once they become aware of the scam, can successfully retrieve their money and/or alert officials who can track the accounts used by the scammer.

Wire transfers via Western Union are ideal for this purpose. The wire transfer, if sent internationally, cannot be cancelled or reversed, and the person receiving the money cannot be tracked. In fact, that person often does not have to provide identification; they only have to know the identifiers of the transaction such as the control number and secret question. Thus, the overwhelming majority of scams involve making payment via wire transfer. Other similar uncancellable forms of payment include postal money orders and cashier's cheques, but as wire transfer is the fastest method, it is the most common.

Since the scammer's operations must be untraceable to avoid identification, and because the scammer is often impersonating someone else, any communication between the scammer and his victim must be done though channels that hide the scammer's true identity. The following options in particular are widely used.

Because many free e-mail services do not require valid identifying information, and also allow communication with many victims in a short span of time, they are the preferred method of communication for scammers. Some services go so far as to mask the sender's source IP address, making the scammer completely untraceable even to country of origin.

These services, when notified of an address being used illegitimately, are generally quick to suspend the account. However because a scammer can create as many accounts as he or she wishes and often has several active at one time, finding and shutting down scammer accounts presents only a minor hindrance to scammer operations.

Some fraudsters hijack existing e-mail accounts and use them for advance fee fraud purposes. The fraudsters e-mail associates, friends, and/or family members of the legitimate account owner in an attempt to defraud them.This ruse generally requires the use of phishing or keylogger computer viruses to gain login information for the e-mail address.

Facsimile machines are commonly used tools of business, whenever a client requires a hard copy of a document. They can also be simulated using web services, and made untraceable by the use of prepaid phones connected to mobile fax machines or by use of a public fax machine such as one owned by a document processing business like Kinko's. Thus, scammers posing as business entities often use fax transmissions as an anonymous form of communication. This is more expensive, as the prepaid phone and fax equipment will cost more than a free e-mail service, but the end result to a skeptical victim can be more believable and thus make faxes worth the added cost.

Many scams use telephone calls to convince the victim that the person on the other end of the deal is a real person and telling the truth. The scammer, possibly impersonating a U.S. citizen or other person of a nationality - or even gender - other than his or her own, would arouse suspicion by placing an ordinary voice call to the victim. In these cases, scammers use TRS, a US federally-funded relay service where an operator or a text/speech translation program acts as an intermediary between someone using an ordinary telephone and a deaf caller using TDD or other TeleType device. The scammer might specify they are deaf or not, and that their use of a phone requires the use of a relay service. The victim, possibly drawn in by a sense of sympathy for the caller in light of a stated disability, might be more inclined to agree to the fraudulent arrangement.

Because of current FCC regulations and confidentiality laws, operators are required to relay every call verbatim and must adhere to a strict code of confidentiality and ethics. Thus no relay operator is permitted to make judgements about the legality and/or legitimacy of any relay call and must relay the call without interference. As such, the relay operator cannot warn victims even when they suspect that the call is a scam; some sources claim that up to half of all IP Relay calls are scams.

Due to the relative ease at tracking phone-based relay services, scammers have a tendency to use Internet Protocol-based relay services such as IP Relay to place these calls. A common strategy consists of binding their overseas IP address to a router or server located on US soil, thus allowing them to use US-based relay service providers without interference.

TRS is sometimes used to relay credit card information for the purposes of making a fraudulent purchase with a stolen credit card. In many cases however, it is simply a means for the scammer to further lure the victim into the scam.

Though 419 scams are often perpetrated by e-mail alone, some scammers enhance the believability of their offer through the use of a sham website. Such websites can imitate real sites such as eBay, PayPal, or a banking site like Bank of America for the purposes of phishing, while others are totally fictional and used to lend credibility to a scammer's story. Though phishing is only a secondary interest of most scam operations, as the object of the scammer is to deceive the victim into sending the money through legitimate means, the use of websites for advance fee fraud is common. For instance, a scammer may create a website for a fictional bank, then give the victim details to login to the site, where the victim then sees the money that the scammer has promised sitting in the account. The victim is then more likely to believe the scammer and send the requested advance payments. Fake (or hijacked) websites are the centerpiece of false online storefront scams.

Another twist on scamming is where links are provided to real news sites covering events the scammer says are relevant to the transaction they propose. For instance, a scammer may use news of the death of a prominent government official as a backstory for a scam involving getting millions of dollars of the slain official's money out of the country. These are real websites covering legitimate news, but the scammer is usually not connected in any way with the events reported, and is simply using the story to gain the victim's sympathy.

Sometimes, victims are invited to a country to meet real or fake government officials. Some victims who do travel are instead held for ransom. In some rumored cases, they are smuggled into the country without a visa and then threatened into giving up more money as the penalties for being in a foreign country without a visa may be severe.Sometimes victims are ransomed or killed.


B) Variants:

Some schemes are based solely on conning the victim into cashing fake cheques. The scammer will contact the victim to interest them in a "work-at-home" opportunity, or asking them to cash a cheque or money order that for some reason cannot be redeemed locally. A recently-used cover story is that the scammer wishes the victim to work as a "mystery shopper", evaluating the service provided by MoneyGram or Western Union locations within major retailers such as Wal-Mart.The scammer sends the victim a cheque or money order, the victim cashes it, sends the cash to the scammer via wire transfer, and the scammer disappears. Later the forgery is discovered and the bank transaction is reversed, leaving the victim liable for the balance. Schemes based solely on cheque cashing will usually offer only a small part of the cheque's total amount, with the assurance that many more cheques will follow; if the victim buys in to the scam and cashes all the cheques, the scammer can win big in a very short period of time. Other scams such as overpayment usually result in smaller payoffs for the scammer, but have a higher success rate as the scammer's request seems more believable.

Some cheque-cashing scammers use multiple victims at multiple stages of the scam. A victim in the U.S. or other "safe" country such as the U.K. or Canada (often the country in which the cashing victim resides) is sometimes approached with an offer to fill out cheques sent to them by the scammer and mail them to other victims who will cash the cheque and wire the money to the scammer. The cheque mailer is usually promised a cut of the money from the scammer; this usually never occurs, and in fact the cheque mailer is often conned into paying for the production and shipping costs of the cheques. The cheque information has either been stolen or fictionalized and the cheques forged. The victim mailing the cheque is usually far easier to track (and prosecute) than the scammer, so when the cheques turn up as fraudulent, the one mailing them usually ends up not only facing federal bank fraud and conspiracy charges, but liability for the full amount of the fraudulent cheques. Because the cheque mailer is taking the fall, the scammer is even less likely to be caught, which makes it a popular variation of the scam for scammers in nations with tougher anti-fraud laws.

A recent variant is the "Romance Scam" which is a money-for-romance angle. The victim is usually approached by the scammer on an online dating service, on an Instant messenger (like Yahoo IM) or even social networking sites. The scammer claims to have become interested in the victim, and have pictures posted of an attractive person who is not actually the poster. The scammer uses this communication to gain the victim's confidence, and then ask for money. The offending party may claim to be interested in meeting the victim, but needs some cash up front in order to book the plane, hotel room, and other expenses. In other cases, they may claim they're trapped in a foreign country and need assistance to return, to escape imprisonment by corrupt local officials, to pay for medical expenses due to an illness contracted abroad, and so on. The scammer may also use the confidence gained by the romance angle to introduce some variant of the original Nigerian Letter scheme, such as saying they need to get money or valuables out of the country and offer to share the wealth, making the request for help in leaving the country even more attractive to the victim. A newer version of the scam is to claim to have 'information' about the fidelity of a person's significant other which they will share for a fee. This information is garnered through social networking sites by using search parameters such as 'In a relationship' or 'Married'. Anonymous emails are first sent to attempt to verify receipt, then a new web based email account is sent along with directions on how to retrieve the information.

The lottery scam involves fake notices of lottery wins. The winner will usually be asked to send sensitive information to a free email account. The scammer will then notify the victim that in order to release the funds, some small fee (insurance, registration, or shipping) is required. Once the fee has been sent, the scammer will invent another fee and attempt to collect it.

Much like the various forms of overpayment fraud detailed above, a new variant of the lottery scam involves fake or stolen cheques being sent to the 'winner' of the lottery (these cheques representing a part payment of the winnings). The winner will then be more likely to assume that the win is legitimate and subsequently more likely to send the fee (which he does not realize is an advance fee). The cheque, and associated funds, will then be flagged by the bank when the fraud is discovered and debited from the victim's account.

In 2004 a variant of the lottery scam appeared in the United States. Fraud artists using the scheme call victims on telephones; a scammer tells a victim that a government has given him or her a grant and that he or she needs to pay an advance fee, usually around 250 United States dollars, in order to receive the grant.

An e-mail is sent to the victim's inbox, supposedly from a hitman who has been hired by a "close friend" of the recipient to kill him or her but will call off the hit in exchange for a large sum of money. This is usually backed up with a warning not to contact the local police or FBI, or the "hitman" will be forced to go through with the plan.This is less an advance fee fraud and more outright extortion, but a reward can sometimes be offered in the form of the "hitman" offering to kill the man who ordered the original hit on the victim.

Related to the hitman scam, the scammer will contact a business, mall, office building or other commercial location with a bomb threat. The scammer says they will detonate the bomb unless the management of the business does as the scammer tells them. Often, the scammer says that they have the store under surveillance; however, analysis of the calls by police have established that the vast majority of threat calls are made from other states or even from outside the country. Some evidence exists that points to the scammers hacking into the store's surveillance network, but this has not been confirmed in any case and has been refuted in others.The scammer usually demands that the store management or people in the headquarters office of the store (if the store is a chain) send money via wire transfer to the scammer to spare the store and the people in it. Other demands of these scammers have been more personal and humiliating, such as demanding that everyone in the store disrobe.

Because the underlying threat in the scam is a bomb threat, local law enforcement very quickly responds to the site under threat; however, because the scammer is usually nowhere near this location, the scammer is in little if any danger of being apprehended while the scam is playing out. Law enforcement, in the meantime, cannot assume the threat is anything but genuine, and therefore can do little to intervene without risking the detonation of the bomb. The fact that the threat was in reality a scam has usually not been discovered until long after the situation is over—and the extortionist has collected the money demanded.

The scammer poses as a charitable organization soliciting donations to help the victims of a natural disaster, terrorist attack (such as the Sept. 11 World Trade Center attack), regional conflict, or epidemic. Hurricane Katrina and the 2004 tsunami were popular targets of scammers perpetrating charity scams; other more timeless scam charities purport to be raising money for cancer, AIDS or Ebola virus research, or impersonate charities such as the Red Cross or United Way. The scammer asks for donations, often linking to online news articles to strengthen their story of a funds drive. The scammer's victims are charitable people who believe they are helping a worthy cause and expect nothing in return. Once sent, the money is gone and the scammer often disappears, though many will attempt to keep the scam going by asking for a series of payments. The victim may sometimes find themselves in legal trouble after deducting their supposed donations from their income taxes

This variant targets former victims of scams. The scammer contacts the victim saying that their organization can track and apprehend the scammer and recover the money lost by the victim, for a price. Alternatively, the scammer may say that a fund has been set up by the Nigerian government to compensate victims of 419 fraud, and all that is required is proof of loss (which usually includes personal information) and a processing and handling fee to release the amount of the claim. The scammer is counting on the victim's dire need to recover their lost money, as well as the fact that they have fallen victim before and are therefore susceptible to such scams. Often, these scams are perpetrated by the same scammer who conned the victim in the first place, as an attempt to ensure the scammer gets every penny possible from the victim. Alternately, the original scammer will "sell" a list of the people he has scammed but who have ceased contact to another scammer who runs the recovery scam. Sometimes the scammer impersonates the foremost "fraud related crime-fighters" in Nigeria, the EFCC (Economic and Financial Crimes Commission), which not only adds credibility to the scam, but tarnishes the reputation of the EFCC once this second scam is discovered

Lately scammers have been finding new victims using puppies (usually English Bulldogs or Yorkies; a cute, expensive breed coveted by families who cannot afford them) or exotic pets. A scammer first posts an advertisement or sets up a web page offering these sweet little puppies for adoption or for sale at a ridiculously low price, most often using stolen pictures from other websites and respectable breeders. When a victim responds to the aid and questions the lowered price or reason for giving up such an adorable and expensive pet, the scammer first explains that they have recently moved to Nigeria or Cameroon from the US for work (usually volunteer work as missionaries) or for studies, and claims either to have no time to properly care for the pet, that the weather has had such a terrible toll on the pet or that they have too many pets to care for. Keep in mind that in order to fool the victim into believing that they truly care for these pets and that they are not interested in money, the scammer will probably continually remind the victim that they only want the best for their "babies" (and they will, at least once, call the animal a baby, not only to fool the victim, but to also avoid fouling his own scam by referring to the pet with the wrong name, breed or sex). The scammer and victim will exchange a few emails to build trust. Once it is established that the victim offers the right home for the pet, the scammer will then offer to ship the pet and requests that the victim only pay for shipping. The victim, who now has an emotional attachment to the pet, feels obligated and even happy to do so, as shipping would be such a small price to pay compared to actually buying the pet from a breeder or pet shop at full price. The scammer requests Western Union to keep the deal going in a timely fashion as the pet is ready to go to a new home and the victim is now excited. However, after wiring money, the victim will not receive the pet (as the pets don't exist), and if the victim does hear from the scammer again it is only for more money (to get puppy out of airport holding, or to pay unexpected vet bills that have come up) until the victim stops responding.

C) Consequences:

Estimates of the total losses due to the scam vary widely.
Although the "success rate" of the scam is hard to gauge, some experienced 419 scammers get one or two interested replies for every thousand messages. Stephanie Nolen of The Globe and Mail said that an experienced scammer can expect to make at least several thousand dollars per successful scam letter.

Ultrascan Advanced Global Investigations, a Netherlands-based firm which has been studying 419 matters since the mid-1990s, has prepared a table quantifying 419 operations by country for 2005 and 2006. These stats are based on Ultrascan's in-house investigations and include, by nation: number of 419 rings; number of 419ers; income of the 419ers (the amount of losses by victims to the 419ers); and additional data. 419 Coalition view is that these stats present a reasonably conservative and realistic look at the extent and magnitude of 419 criminal operations worldwide.

Since 1995, the United States Secret Service has been involved in combating these schemes. The organization will not investigate unless the monetary loss is in excess of fifty thousand US Dollars. However, very few arrests and prosecutions have been made due to the international aspect of this crime.

In 2006, a report by a research group concluded that Internet scams in which criminals use information they trick from gullible victims and commonly strip their bank accounts cost the United Kingdom economy £150 million per year, with the average victim losing £31,000
The Nigerian scam is hugely successful. According to a 1997 newspaper article:

"We have confirmed losses just in the United States of over $100 million in the last 15 months," said Special Agent James Caldwell, of the Secret Service financial crimes division. "And that's just the ones we know of. We figure a lot of people don't report them."

Some victims have hired private investigators in Nigeria or have personally travelled to Nigeria, without ever retrieving their money. There are undocumented cases of victims being unable to cope with the losses and committing suicide. In November 2003, Leslie Fountain, a senior technician at Anglia Polytechnic University in England, set himself on fire after falling victim to a scam; Mr. Fountain died of his injuries. In 2006 an American living in South Africa hanged himself in Togo after being defrauded by a Ghanaian 419 con man.
In February 2003, a 72 year-old scam victim from the Czech Republic shot and killed 50-year old Michael Lekara Wayid, an official at the Nigerian embassy in Prague, and injured another person.

On June 2, 1996 in Lomé, Togo, 419ing kidnappers held a Swedish businessman for $500,000. Swedish police and the kidnappers negotiated before the kidnappers released the man on June 12, 1996.
From September 1995 to April 1997, conmen held at least eight Americans against their will. In 1996 the embassy repatriated ten Americans who fell victim to 419 schemes.
Joseph Raca, a former mayor of Northampton, England, was kidnapped by scammers in Johannesburg, South Africa in July 2001. The captors released Raca after they became nervous.
Dănuţ Tetrescu, a Romanian who flew from Bucharest to Johannesburg to meet with con men in the Soweto area of Johannesburg, was kidnapped in 1999 and held for $500,000.

29-year old George Makronalli, a Greek man, was murdered in South Africa in December 2004 after responding to a 419 scam.
Kjetil Moe, a Norwegian businessman, was reported missing and ultimately killed after a trade with Nigerian scammers in Johannesburg, South Africa (September 1999).
One American was murdered in Nigeria in June 1995 after being lured by a 419 scam.From 1994 to April 1997 419 scammers murdered 15 people in total.

Victims, in addition to having lost tens of thousands of dollars, often also lose their ability to trust. The 419 Eater website says, "Although there is no serious physical injury, many victims of con-men speak of the betrayal as the psychological equivalent of rape". Victims may blame themselves for what has happened, resulting in overwhelming guilt and shame. If the victim has borrowed money from others to pay the scammer, these feelings are magnified. Further compounding the problem is the public opinion of scam letters and scam victims. Scam letters are often viewed as humorously moronic, and the people who fall for them equally so, in complete disregard to the fact that people from all walks of life at every level of education fall for these scams. The victim, having lost money through the scammer's manipulation of payment methods such as money orders or cheques, may become distrustful of the financial system. Scam victims may stop trusting and giving money to churches, legitimate charities and, in the extreme, even service providers such as their electric company because of their requests for money. Some victims commit suicide.In other cases, the victim will continue to contact the scammer after being shown proof that they are being scammed or even being convicted of crimes relating to the scam, having been drawn so deeply into the web of deception that their trust in what the scammer tells them overrides everything else in their life.

In 2004, fifty-two suspects were arrested in Amsterdam after an extensive raid. An Internet service provider had noticed the increased email traffic. None were jailed or fined, due to lack of evidence. They were released in the week of July 12, 2004.

On November 8, 2004, Nick Marinellis of Sydney, Australia, was sentenced to 4 1/3 to 5 1/4 years for sending Nigerian 419 e-mails.

In October 2006 the Amsterdam police launched Operation Apollo to fight internet fraud scams operated by West Africans and notably Nigerians. Following this investigation police have arrested 80 suspects, most of them from Nigeria, and seized from their homes lists of email addresses, as well as fake documents. On June 16, 2007 111 people were arrested for being in The Netherlands illegally and suspicion of fraud, although their implication with the email scams is yet unknown.

Authorities in Nigeria have been slow to take action and for many years nothing was done. Nigeria has a reputation for criminals being able to avoid convictions through bribery and rumours abounded of official connivance in the scams. In 2003 however the Economic and Financial Crimes Commission (EFCC) was charged with tackling the problem. A couple of success stories including convictions in a large 419 case were reported in 2005.

Edna Fiedler, 44, of Olympia, Washington, on June 25, 2008, pleaded guilty in a Tacoma court and was sentenced to 2 years imprisonment and 5 years of supervised release or probation in an Internet $1 million "Nigerian check scam." She conspired to commit bank, wire and mail fraud, against US citizens, specifically using Internet by having had an accomplice who shipped counterfeit checks and money orders to her from Lagos, Nigeria, last November. Fiedler shipped out $ 609,000 fake check and money orders when arrested and prepared to send additional $ 1.1 million counterfeit materials. Also, the U.S. Postal Service recently intercepted counterfeit checks, lottery tickets and eBay overpayment schemes with a face value of $2.1 billion.

Victims of the fraud sometimes fall directly into crime by "borrowing" or stealing money to pay the advanced fees, thinking an early payday is imminent. Credit-card fraud, check kiting, and embezzlement are among the crimes committed to pay the advances, with an expectation of having the money to repay the unauthorized loans.

Former Alcona County (Michigan) Treasurer Thomas A. Katona was sentenced to 9-14 years for his embezzlement of more than US$1.2 million in county funds in a Nigerian fraud scheme, which represented 25% of the county's budget for that year.
Another example of this was Robert Andrew Street, a Melbourne-based financial adviser, who fleeced his clients for over AU$1 million which he sent to the scammers in the hope of receiving US$65 million in return. Eventually the Australian Securities and Investments Commission (ASIC) investigated the victim, who had now become a conman himself.



1) Fall mugu = (to)
To be fooled, to become victim of advance fee fraud.
Flash of account

Cause the victim's bank account to temporarily show a large credit. This is intended to induce the victim to believe in the deal and send money. The credit gets reversed by the bank when it is discovered that the original cheque or electronic transfer was fraudulent.
The scheme or script of an advance fee fraud, e.g., the late dictator format (the scammer pretends to be a relative of a dictator, e.g. Maryam Abacha, "Wife" of Sani Abacha), the next of kin format, the lottery format.

2) Guyman, guy =
Scammer engaged in advance fee fraud.
3) Jokeman = A scambaiter.
4) Luxcini =An investment scam involving a line of men's luxury clothing based in Beverly Hills, California
5) Maga, mugu, mugun, mahi, magha,[23] mahee, mayi, mayee, mgbada(antelope) = Victim of advance fee fraud. "Mugu" is Igbo for "fool" and is often used as an insult by scam-baiters referring back to the scammer.
6) Modalities =commonly used term for methods of funds transfer.
7) Nwachukwu = An advanced fee fraud posing as a Stock Options trading corporation.
8) Oga or Chairman = Boss or Owner of the job, Catcher
Scammer who makes the first contact with a victim and then passes him on to another scammer who finishes the job. The latter shares the spoil with the former.
9) Runs = An (illegal) activity.
10) Yahoo millionaires,yahoo boys = Scammers
The act of scamming, especially through the use of a Yahoo! mail address.


C) Some Pidgin English Words and Phrases can be found on here (used in Nigeria):

Recent News
One of my recent experiences with a criminal you can read on my myspace blog listed below under files posted or click on this link and go to my blogs.:

Check this out how easy people get access to your private informations and might be stealing your idendity.:

How I stole someone's Idendity:
Does somebody want to transfer millions of dollars into your account?
Does someone want you pay you to cash cheques and send them the money?
Met a new friend/penpal on a friendship/dating site who's asking you for money?
Has a dying person contacted you wanting your help to give his money to charity?
Have you sold an item and are asked to accept a payment larger than the item amount?
Don't fall for common scams like this
fight them!

Avoid scams
All spam emails/unsolicited phone calls/letters and faxes are
As a general rule - ANYTHING involving Western Union/money
gram = Scam.
my Advice: Don't deal with anyone out of state or from a foreign country or Accept or cash checks from strangers and
never use wire/bank transfer services.. you risk losing your
$$ and your mind.
If you sell stuff online.. Accept Cash or paypal only.
If you buy stuff online.. Use Paypal only.
Remember, if it sounds too good
to be true, it probably is! NEVER(ever) give out your personal
information to strangers online or offline! Always be on

5 RULES to apply....

NEVER pay anything up front for ANY reason.

NEVER extend credit for ANY reason.

NEVER do ANYTHING until their cheque clears.

NEVER expect ANY help from other countries Government.

NEVER rely on YOUR government to bail you out.

this page "TRUST" is still under patient please ;-)

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You Need To Save Money - 3 tips VIDEO
- Posted January 14, 2009 by Monty Loree
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You Need To Save Money - 3 tips VIDEO

I did this quick video talking about the need to save money.
I was watching Niall Ferguson's The Ascent of Money, and he talked about the U.S. being call Chimerica... I was floored to think that the U.S. would be controlled by China, because they're in so much debt to them.

There are three types of savings
1) Short Term - Emergency funds
2) Intermediate Term - Savings for more expensives fixes like furnace, car, home repairs etc
3) Long Term Savings - Retirement funds etc.

We need to talk more and more about saving money. It's not the most exciting topic. It's not as fun as the movie you just went to see, or the rock concert at the stadium. Saving money is pretty boring to be honest..

Saving money builds cash reserves that make you sleep better and worry less. It's all about insulating you and your family from the bumps in the road.

I went on to Youtube today and saw some videos about people who are ripping up their credit cards, setting their debts and doing other things to try to cope with this economic crisis.

What I would like to see more of are people who slow down their lifestyles and start to take financial control of their situation. It's not that hard... You just have to watch what you're doing and take notice.

I'm pleased to do this video if it encourages people to save more money, pay down credit cards, and get in control of their personal finances!

Good luck with your credit.

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expert panel on securities regulation
- Posted January 12, 2009 by Monty Loree
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Expert Panel on Securities Regulation/Groupe d'experts sur la réglementation des valeurs mobilières‏

I was asked to post this by the folks at the federal government

From an email sent today:
The Hon. Thomas Hockin, Chair of the Expert Panel on Securities Regulation, has today released the Panel’s Final Report and Recommendations during a speech to the Vancouver Board of Trade.

The Report and Recommendations, along with the Panel’s News Release, Mr. Hockin’s speech and background on the work of the Panel can be found at

For further information please contact David Murchison, Executive Director of the Expert Panel on Securities Regulation in Ottawa at 613-947-8614 or George Bentley, Communications and Consultations Manager in Vancouver at 613-791-6741.

L'honorable Thomas Hockin, président du Groupe d'experts sur la réglementation des valeurs mobilières, a présenté le rapport final et les recommandations du Groupe d'experts aujourd'hui, lors d'une allocution qu'il a prononcée devant le Vancouver Board of Trade.

Le rapport et les recommandations, le communiqué du Groupe d'experts, le discours de M. Hockin et les renseignements de base sur les travaux du Groupe d'experts sont accessibles sur le site

Pour de plus amples renseignements, veuillez communiquer avec David Murchison, directeur exécutif du Groupe d'experts sur la réglementation des valeurs mobilières à Ottawa, au 613-947-8614, ou avec George Bentley, gestionnaires des Communications et des consultations à Vancouver, au 613-791-6741.

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Do We Need More Debt in 2009?
- Posted January 08, 2009 by Monty Loree
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Do We Need More Debt in 2009?

I am furious today to see the headline article on
A $2 trillion bet on powering America

I mean, how dumb can you be? It seems that the U.S. federal government is really gasping for air right now.

The U.S. government is borrowing like crazy to stimulate the economy. That sends a direct message to the consumer that it's good to borrow, and that it's necessary to borrow.

In this video I give three personal finance scenarios about why people shouldn't borrow right now.

It is my strong opinion that the government should not be encouraging people to borrow... that's why the economy is in the position it's in. borrowing more means putting people under more pressure.

Please do drop by youtube and rate my video, and comment on it.

The U.S. government is taking on trillions of dollars in debt
They're encouraging consumers to take on debt

Why is this wrong?

    3 scenarios that people generally face with the personal finances.

  1. Let's say you've got $250,000 in cash and no debt
    or even $10,000 in cash...
    Would you use credit ever?
    How would you feel?

  2. You've got $10,000 in cash and $30,000 in debt
    This is alright, as long as you don't lose your job
    and use up your reserves

  3. You've got $0 in cash and $30,000 in debt
    Now you're worried because you may have problems if you lose your job etc

In any of these scenarios should you be taking on more debt?

Discuss this subject here:
Do we need more debt?

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Affordable Life Insurance in Canada
- Posted January 06, 2009 by Monty Loree
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Affordable Life Insurance in Canada

Canadians know that it is important to have life insurance. Life is full of risks, and if something should happen to you, your family would be left not only without your personal presence, but also without the income and support you brought to them in a material sense. Many people delay getting a life insurance policy because they feel that it is too expensive, but there are several options available that won’t break your budget, and will make it possible for you to protect your family.

The cost of a life insurance plan depends in part on which kind of policy you decided to get. There are several different kinds of life insurance that are available to Canadians. These include:

  • Term life insurance. This is the most affordable option of the several plans. Term life insurance covers a family for a specified term, such as ten or twenty years. It is the most common plan used by families with children, because it provides a higher level of protection for a shorter amount of time, usually replacing one parent’s income while the children are growing or are in college. Once the term coverage has expired, you can switch to another form of life insurance, or you can renew your term life insurance for another set term.
  • Whole life insurance. These policies are a bit more expensive than term life policies. One of the benefits of these plans is that they do not expire; they continue to offer the same level of coverage for as long as you continue to pay your premiums. They also tend to have a much higher cash value after you have paid into them for a while.
  • Universal life insurance. Universal life insurance is a less common option, but still an available one. The main difference between universal and whole life insurance is that you are responsible for investing your own premiums. If your investment isn’t as successful as you had hoped, you might experience a decrease in the value of your policy, which might leave your loved ones without the protection they need if you die.
  • Accidental death and dismemberment insurance. This is insurance that is specifically geared toward what happens if you die suddenly or if you are maimed in an accident. This policy, called AD&D, is not a primary insurance policy, but it provides supplemental payments in addition to your normal policy. If you are looking for the most affordable plans, it might not make sense to pay extra for a supplemental policy, but if you work at a risky or dangerous job, it might be worth the extra money.
  • Guaranteed life. This is a policy for those who are desperate to acquire life insurance. If you are looking for good, affordable plans, this is probably not the best way to go. You are guaranteed to be covered, no matter what your age or health condition, but you will pay much higher premiums and you will get much lower benefits from your policy.

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Credit Repair Canada - 3 things you should know
- Posted January 02, 2009 by Monty Loree
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Credit Repair Canada - 3 things you should know

I created this video to talk about three points people need to know about credit repair.

Monty Loree - Talking about credit repair in Canada.

Three points to discuss

1) Credit Repair is not an exact science

2) Everything on your credit report must be accurate, complete and verifiable.
a) accurate means that the information is what you said it was
b) complete means that pieces of information aren't left out
c) verifiable means that the credit bureau must be able to verify your information

3) Put your dispute down in writing
a) If you don't write it down, you can't complain about it to the regulatory bodies.
b) If you don't complain to the regulatory bodies, you probably won't get any action on your dispute.

I will invite you to submit any documentation that you've received through the credit repair process. If you send me some documentation, I'll post it to the FAQ section of the site. I want to collect as much factual information in 2009 as possible.

Please do give me your comments or questions on the video.

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Is saving money & Paying off debts boring?
- Posted January 01, 2009 by Monty Loree
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Is saving money & Paying off debts boring?

Just a quick rant..

I did a video on youtube and I was talking about the fact that saving money and paying off debt is boring, but responsible.

This video was in reply to all of the doom and gloom people who are saying that the economic world is coming to an end.

The point I was trying to make was this:
Saving money is boring
Paying down debt is boring
Being financially responsible is boring
Sleeping well every night because I don't worry is not boring.

The reason that North Americans are in such bad shape financially is that they've chased instant gratification for the last 20 years. It's pretty exciting to have the latest gadgets and entertainment. It's been fun, fun, fun!

Now that people are over extended and have to pay the bills, that's not fun any more.

I know a young fellow who's declared bankruptcy. He really hasn't learned his lesson yet. However, he still likes his fun, and he still spends his money right into the floor.

He mentioned to me that, "I am up against the wall financially". He lives pay cheque to pay cheque. This is the same thing he tells me each time I see him. He's constantly in need of money. However, he has way more fun than I do!

Saving money isn't very exciting. You put the money in your account, and then forget about it. That doesn't buy excitement. But money in the bank does buy you peace of mind.

Paying down debt isn't exciting. You send your payments to the credit card company. You keep paying until the debt is paid off, and the money doesn't go to exciting things. You do get peace of mind when the debt is paid off.

Retailers aren't excited when you save your money and pay down your debts. They aren't making money. They don't have your best interest at heart. Retailers love you when you're spending money with them. That's kind of a false love...IMO

As I get older, I guess I like peace of mind more than I like excitement. I would rather be debt free and money in the bank than constantly having excitement.

I would like to be financially responsible instead of being at the edge all the time.

I'm hoping that people will learn the debt lesson even more in 2009!

Happy New Year!

May this be the most debt free, cash full, and money responsible year we've ever had!


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HUMOR Secured Credit Cards for Business and Govt
- Posted January 31, 2008 by Monty Loree
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HUMOR: Secured Credit ( Cards ) for Business and Govt?!!

When I first started talking about secured credit cards a few years back, I thought the concept was a little odd. Having to put a security deposit down for a credit card seemed ridiculous.

The Credit Crunch
is your credit in a vice?

Corporations using secured credit?
Wouldn't it be funny if corporations with bad credit were treated like consumers with bad credit?

Need a secured credit card?

It would be difficult for a corporation that needed $1 million in credit to have to give a security deposit of $1 million cash down. It would kind of defeat the purpose. Businesses would shut down left and right.

Banks get their clients to put up other assets in the form of buildings, machinery, goodwill, patents etc... instead of cash. The consumer doesn't have these types of luxuries though.

I think that the companies with the worst credit should have to put up cash to secure their loans. They should get the same treatment as the consumer...

Otherwise, If companies can use their buildings and assets to get loans, I think that consumers should be able to put up their personal possessions as collateral.. (tongue in cheek)

    Things consumers could use for credit collateral.
  • Sleeping bags...
  • Paintings
  • The lawn mower
  • Canned goods
  • Old computers
  • Recipe books and other books.
  • Old couches and chairs.

Oh yeah... then consumers should be able to give these items whatever value they want... They should be able to tell the banks that their recipe books are worth at least $5000, and their canned goods are priceless, however they would value them at $2500. This is what the corporations do at the top level isn't it?

consumer assets & security?
Can you take my movies and a jar of rice as credit collateral?

I would like to give my Star Wars trilogy and a jar of rice.. I think they should be worth $1,639.00 based on my internal valuations. This should be good enough to get a credit card or other loan.

I can't see corporations having to give 100% cash security deposits to back all of their credit. This would immediately shut down business.. However it may be a good idea as it would make corporations run a bit more responsibly.

The whole economy problem is blamed on subprime mortgages and the credit crunch. They're blaming the consumer for taking out too many subprime mortgages.

I get a sense that there is alot of subprime corporate debt as well.. Think back to the time of junk bonds etc. These days, corporations are leveraged to the hilt. They're maxed out on credit as much as the consumer.

corporations need "secured credit cards " to help their credit problems just as much as consumers do!!

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Why does 1/2 point in the fed cut matter to the consumer
- Posted January 31, 2008 by Monty Loree
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Why does 1/2 point in the fed cut matter to the consumer

I was thinking for a bit as to how to explain why 1/2 point reduction would help somebody with a credit card that has a fixed rate of 18.99% etc.

(Bloomberg) Yesterday Ben Bernanke reduced the fed's interest rate by 1/2 point , or .005 (.5%). The markets are supposed to get all excited about that.

Paying .5% less on debt for the individual consumer isn't much to get excited about.

(NOTE: The illustrations below are highly simplified.)

If you've got a $250,000 mortgage, you'll pay
$250,000 x .005 = $1,250 per year less on your mortgage.

Wait a minute... $1,250 is a some what significant amount. You could use that extra money to pay down other debts.

Let's talk about $1 billion of debt, which is a small amount these days.

$1 Billion = $1,000,000,000
$1,000,000,000 x .005 = $5,000,000 ($5 million) in saved money.

So... for every $1 billion in debt that companies are carrying, they'll be able to save $5 million a year. This money can be use to pay down debt, hire new employees, buy new equipment or repair existing equipment.

So... $1 trillion in debt would multiply that savings x 1,000.. Now companies have $5 billion in cash saved to add to their purchasing power.

That is a topic that is complex and beyond my scope. It has to do hundreds of factors that are as complex as business itself.

It's important the U.S. feds stepped in pretty strongly with their interest rate cuts. 1.25% in a weeks time. This indicates that the governments are over leveraged , corporations are over leveraged and the consumer is over leveraged.

This would be a good time for the fed's to keep interest rates low, and for consumers, corporations, and governments to pay down their debts and repair their balance sheets.

I would hate to see a repeat of what happened in Japan in the early 1990's. They had an overheated economy, and the employees got burnt out from working too much to sustain the overheated economy.

In this case, Canadians and Americans are going to burn out from trying to service too much debt. This is why it would be good to keep the interest rates low, so that the consumer's burden will be reduced quite a bit.

Again I would hope that with a lower interest rate, the consumer would do the right thing and repair their balance sheets, ie pay down debts, instead of using the money saved on interest on consumer goods.

Time will tell!

Canadian Overnight rate:
BTW... I just saw this press release on the Bank of Canada's website.

Bank of Canada lowers overnight rate target by 1/4 percentage point to 4 per cent

OTTAWA – The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 4 1/4 per cent.

In the second half of 2007, the Canadian economy grew broadly in line with the Bank's expectations in the October Monetary Policy Report (MPR). Despite some slowing in growth in the fourth quarter, the Canadian economy continues to operate above its production capacity. Both core and total CPI inflation have been lower than projected in the MPR, largely reflecting a price-level adjustment related to increased competitive pressures in the retail sector stemming from the level of the Canadian dollar.

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NOT SPENDING MONEY - Enjoying the beauty!
- Posted January 30, 2008 by Monty Loree
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- Enjoying the beauty!

I went out to check the mail today and saw that there was some nice snow on our trees in the front yard.

It's -35c here in Regina today. Even with this type of cold, there is a beautiful blue sky, and nice snow caps on the trees in the front of our yard!

Front Yard view, blue sky and lots of cold, cold snow!
beautiful day in regina, sk

Snow Caps on the trees in the front yard, Regina, SK
beautiful day in regina, sk

Snow Caps on the trees in the front yard, Regina, SK
beautiful day in regina, sk

In the past when I was perpetually busy working 24/7, I would never take the time to look at my surroundings. These days, I have a little extra time to do that.

This is one of the fringe benefits of my STOP SPENDING MONEY project.

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- Posted January 28, 2008 by Monty Loree
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I was asked to do a review for which is a mortgage and credit site in the U.K.

I'm looking at the mortgage page on this site and it appears to be neat and clean. The page has got a nice questionnaire about your property that will help you search for the best mortgage deals.

It's always imperative that you shop for the best mortgage deals as it will save you a great deal of money in the future.

I was also happy to see that this mortgage page had some good mortgage interest rates listed. That's also a good help when you are shopping for a mortgage. has also got a page dedicated to loans. This page has the same type of questionnaire as the mortgage section, which will help you select from the 500 types of loans that they can offer.

If you're looking for a mortgage or loan in the U.K. it might be a good idea to check out the links above.

DISCLAIMER: I don't know the site owners of the above site personally . I have no knowledge of their expertise in the mortgage/loan industry. I am giving a review from what I can see on their site.

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Stop Spending Money Project - The benefits
- Posted January 28, 2008 by Monty Loree
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Stop Spending Money Project - The benefits

I thought that I should take a moment to write out some of the benefits that I am experiencing from my STOP SPENDING MONEY project.

Where as I am kind of bored, and having to learn new things to do with this project, there are many good benefits that I would like to share.

Already having my level 1 and level 2 cash reserves in place, I already enjoy "6 months+ peace of mind". This means that If I was disabled from working at my business here, I would be covered for six months and more expense wise. That is a huge relief and something that I don't have to worry about.

I am already debt free and mortgage free. These are huge items I don't have to worry about. ( I DO use my credit cards for business, but clear them off each month.)

I am not constantly worried about creditors calling, or collection agencies calling.

This allows me the flexibility to live the life style that I prefer. I work when I want, and don't work when I don't want. (Being a recovering workaholic, I usually work more than I should! :) )

My debt free status has not always been the case. In previous times, I have carried credit card debt that would scare most people. My health was affected by the amount of debt that I was carrying. It's important to note that these debts were business related.

Eventually my wife and I, resolved all of these debts and they are paid in full!!

I tell this story as I don't want people to think that I am magically debt free, or that I've always been debt free. That's certainly not the case.

These days I want to remain debt free as I LOVE the peace of mind that comes along with it.

I am currently slowing down my lifestyle so that I can get control of how I spend my money.

In previous times I would go and buy an item from say Canadian Tire. The item would be faulty and I would just throw it away instead of properly returning it for a refund or replacement.

These days I'm pretty diligent about getting my refund or replacement.

I am also spending time shopping for bargains or value.
In past times I would buy what ever was the most convenient regardless of the cost. My logic is, my time is worth the money that I'm spending looking for these bargains. That's pretty pathetic logic.

These days, I am getting better looking for bargains. I will buy items at a discount and will find the right times and places to buy things. This is when I am shopping for groceries, and household supplies.

Because I am taking some time to price things out and look for bargains for groceries and household goods, I am actually enjoying the purchasing process much more than I used to. I challenge myself to get the best deals at the grocery store each day. (I shop daily as it gets me out of the house, and the store is within close walking distance.)

I find also that shopping daily means that I cook that food daily. I am buying fresh fruits and vegetables which have a quicker expiry date and are marked down. This works for me, as I usually use up these vegetables and meats daily.

The above benefits that I have started enjoying in the last few months. Peace of mind from being debt free and having cash reserves in the bank.

Also, I am enjoying taking more time with grocery and household purchases giving me a higher enjoyment level. I am also taking time to looking for bargains and thus am saving more money than before.

The time that I am saving from NOT SPENDING MONEY is translating into other very enjoyable benefits.

It's not exciting to stop spending money, however, I am feeling better for it, and am getting a much higher level of satisfaction in some cases.

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Why Cars are Convenient - Not Spending Money!
- Posted January 28, 2008 by Monty Loree
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Why Cars are Convenient
- Not Spending Money!

I'm feeling a little frustrated today with regards to my not spending any money project - and not driving the car project.

I took this picture today to illustrate the weather. It's been blizzarding today and while it's not the coldest day ever, the wind makes it pretty miserable.

Regina Saskatchewan, January 28, 2008 - Front Yard View

Regina Saskatchewan, January 28, 2008 - Back Yard View

I can see why people are addicted to oil as they say in the U.S. People love driving their cars, especially when the weather is like this.

It was extremely convenient to get into my car and drive where ever I wanted to. If I wanted to get out of the house and go for coffee, it was nice and convenient to jump in the car and go for a drive.

I am doing to this STOP SPENDING MONEY project to get a contrast from what it was like before when I just spent money on whatever I felt like, without giving it much consideration.

The way I'm doing this project is a bit extreme. I'm just not spending money for the next few months to see what it feels like. I want to experience the withdrawals that come along with cutting out "this addiction".

I'm trying to simulate the "don't use credit cards frivolously", and "save cash reserves money" idea that I've been talking about for the last month. What would happen if everybody stopped using their credit cards for frivolous items and just used cash. As well, what would happen if people took their excess cash that they saved on frivolous item purchases and save it in their cash reserve account.

This is also a bit of a simulation of what happens when people lose their jobs and come under some other form of financial stress. Their finances would be cut down to a minimum and they would have to quickly get used to a much more frugal budget. This is difficult if you're used to spending without thought.

I'm learning that it's hard to just stop spending money out of free will. It's much easier to spend money when ever I want, and whenever I get the urge.

If a person is used to free spending, it's painful to stop the free spending habit. The pleasure of saving cash reserves for safety purposes may not be as good as spending money for now, for today. This is an important thing to note.

Saving cash reserves may not be pleasurable, but they will certainly give a person peace of mind in the long run. This stress relief over the long term, will far surpass the short term please of spending today! (It's easier said than done!!)

Today is a lesson to talk about. I am really really in the mood to get out of the house, go to Tim Horton's coffee shop and then the mall. This is because cabin fever is pretty nasty today!! In order to get out, I would have to dress up alot more than I'm used to, walk to the bus, take the bus etc.

Another stop spending article - MSNMoney Articles

I'm glad I'm doing this STOP SPENDING MONEY experiment. It's helping me to actually understand what I am talking about when I say, save your money in cash reserves, pay down debt, and be more conscientious of what you're spending your money on!

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OMG!! I'm taking the bus in Regina, Saskatchewan!
- Posted January 26, 2008 by Monty Loree
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city of regina logo

OMG!! I'm taking the bus in Regina, Saskatchewan!

I have strongly resisted taking the bus over the years. Especially in Regina, Saskatchewan. To be honest, when I lived in Toronto, I took the bus all the time. I've lived in Regina now since 1992 (16 years) and have fought strenuously not to take the bus.

regina city bus
Regina City Bus

Reason being, I would rather walk than wait for an hour for the bus to arrive. I would have to arrange my schedule around the bus schedule.

Since my lease ran out on my 2003 Cadillac CTS in Sept 2007,
2003 cadillac CTS

I've decided that I'm going to slow my lifestyle down and relax a great deal more. I liked the Cadillac.. While it was the epitome of convenience, this luxury vehicle cost me close to $1,000 per month to drive, including lease payments, gas, insurance etc.

$1,000 x 12 = $12,000 per year
$12,000 / 365 days/year = $32.87 cost per day to drive the Cadillac CTS.

Regina City Transit would cost:
$57.00 x 12 = $684 per year
$684 / 365 days/year = $1.87 cost per day to ride the bus.

Going from driving a cadillac to taking the bus seems a bit extreme. I'm going to try it, and then report back. I like the idea that it's relatively stress free. I like the idea that It's not going to tax my finances at all.

I don't like the idea that I've got to schedule my events around the bus schedule.!

Another interesting point is that I offered to take my daughter (14 yrs old) on the bus with me to see how it works. She outright refused. She's very used to being chauffered around in cars, thank you very much!!

I can't blame her as I haven't been the best advocate for public transit over the years. As a matter of fact, I've repeatedly mentioned how it would be a cold day in hell before I take the bus!!

Oh well, times change and necessities change.
The challenge I'm facing is that I live in Regina, Saskatchewan which in the winter is too cold (IMO) to go for walks outdoors. I need to go to the fieldhouse sportplex to walk and work out a little. This is creating the need for transportation.

Walking to the Regina fieldhouse sportplex would take me at least 1/2 hour, one way. In -20c weather, it's not pleasant. That's the necessity part.

It should be fun... I'm looking forward to my initial bus ride. It's part of my STOP SPENDING MONEY , and life style enhancement campaign.

Here's to former days of luxury!!
2003 cadillac CTS

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Canadian Bankruptcy Statistics are on the rise 2007
- Posted January 26, 2008 by Monty Loree
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government of canada bankruptcy statistics

Canadian Bankruptcy Statistics are on the rise -2007

In light of the current economic news, I thought I would do a little search and see what Government Canada was reporting on bankruptcy statistics in Canada.

Bankruptcy Statistics can be found on the Office of the Superintendent of Bankrutpcy Canada website.

I was curious to know if all of the noise about people being out of control credit wise was really true, or if the news companies just needed something to talk about.

According to the Government of Canada statistics, bankruptcies were on the rise in Canada in 2007. Year ends September 30, 2007
SEE: Govt of Canada - Bankruptcy Statistic Tables

    Canadian Consumer Insolvencies
  • Q4 - 2006 - Filings 24,274
  • Q1 - 2007 - Filings 25,352
  • Q2 - 2007 - Filings 26,363
  • Q3 - 2007 - Filings 24,563
    1 year total -Filings 100,552

NOTE: The definition of Insolvencies is Bankruptcies + Consumer Proposals.

The province with the highest year over year increase in insolvencies was Ontario who had a 7.4% increase. Ontario went from 39,700 consumer insolvencies in 2006 to 42,700 consumer insolvencies in 2007

The province with the best year over year decrease in insolvencies was Alberta who had a 14.8% decrease. Alberta went from 7,000 consumer insolvencies in 2006 to 5,900 consumer insolvencies in 2007.

From an overall glance, most of the provinces saw a decrease in bankruptcies in Q3-2007 which was nice to see.

100,552 ankruptcies per year in Canada?
According to Statistics Canada the estimated population of Canada in 2007 was 33,091,228.

According to these figures there are 33,091,228 / 100,552 = 1 bankruptcy filed for every 329 people in Canada. Or .3% (.003) of the population declares bankruptcy each year.

This equals approx 502,000 bankruptcies filed over the last 5 years based on last years numbers. Half a million bankruptcies.!!

On the business side of bankruptcy, this kind of volume is great for bankruptcy attorneys. Bankrutpcy Trustees love it when you declare bankruptcy. You can see there ads all over the place.

On the personal side of bankruptcy, this is a horrific situation for Canadian families.

This means that 100,552 Canadian families had to suffer through financial hard ship for a period of time prior to declaring bankruptcy. I can also imagine that this meant alot of failed marriages, and harm done to the family with all of the fighting and worry about money.

I hope that in the next few years to come, we as a nation will have the learned many lessons from our gorging on credit. 500,000 bankruptcies in 5 years will hopefully teach Canadians a good lesson about credit management.

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The New Economy Destroy Your Dryer Get a New One?!!
- Posted January 26, 2008 by Monty Loree
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The New Economy
Destroy Your Dryer
Get a New One?!!

Within the last few months, I saw an LG (Life's Good) Commercial that disturbed me a great deal.

The LG TV commercial was about the beautiful woman who sees a new LG clothes washer & dryer set in a local retailers window.

She then goes into a dream about all of the things she would do to her old washer and dryer set in order to get a new clothes washer and dryer set.

LG Dryer commercial
Woman from LG Commercial
LG Washer Dryer Commercial can be seen on LG's site

I was absolutely horrified when I saw this commercial!! The message that they're sending makes planned obsolescence for motor vehicles seemed childish.

The message this commercial is sending along is this:
Tired of your old dryer? Take a sledge hammer to it and get a new one.
It's ok to destroy the perfectly good things you own to get the newer, better model.

This is the ultimate in consumerism and commercialism.

So... for every product that you've purchased in the past that you're now tired of, destroy it and buy a new shinier one.'

Why have this:

Old beaten up drier

When you could have this:
lg's shiny new dryer
LG shiny new dryer

The problem with clothes dryer's is that they last for 10+ years which is bad for LG's sales. They want you to have a newer model so that they can sell more dryers on a more regular basis.

Destruction is the message
The answer for LG's marketing team was to create a commercial where the woman throws the washing/dryer machine off a diving board. Next she launches the clothes washer with a trebuchet. Next she's seen jackhammering the old clothes washer and dryer machines. Next she's driving a steam roller over her old clothes washer and dryer. then she fades back to her standing in front of the store looking at the new models.

Very creative, powerful (but bad) advertising.

In the old days, people kept a hold of things for as long as they could. They would repair an item if it was broken.

It's good for a household's finances if they don't have to continuously replace their appliances and other household goods. While it is nice to have nice things, you should really only buy new items if your old ones are worn out and can't be fixed.

In the old days, people used to praise their washer and dryers for lasting 10-20 years. This was a good thing as they didn't have to keep replacing them. People valued their possessions more at that point.

Even though you may have an old "white" washer and dryer... If it works, why replace it. Keep that appliance for its natural life. After all, you paid good money for it when you first bought it. Why not get the full value out of the clothes washer & dryer that you have already paid in full for!??!!

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- Posted January 25, 2008 by Monty Loree
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I was asked to do a site review for

At first glance I didn't know how a "how to" site would fit into the money discussion aspect of this site. As I looked closer at the site, I noticed that they had article submissions under the Finance - Money Management, Finance - Stocks, Finance - Markets and Finances categories.

If anybody actively writes "how to" articles on personal finances, this is a place to have them published.

Publishing how to financial articles is a good way for you to help other people understand your topic, as well as develop some credibility for you and your website.

If you're looking for a source for financial article submission then is another good resource for you.

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- Posted January 25, 2008 by Monty Loree
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I was asked to review, it's posts and the site overall..

This Economics Forum site appears to be from Canada as much of their content talks about Canadian topics.

The economics forum part of the site has topics such as "Oil and Energy", "Foreign Exchange", Economic Indicators" and more... The forum currently has 135 members and growing.

It's good to have a site that talks about Canadian economics and gives the lay person a place to share their opinions. I find that economics can be a complex topic, and it's nice to have a place to read about economic discussions and articles. This makes it easier for the non-economists to understand what is happening financially in the country.

Jan 15 the blog has a good article titled: Top Ten Decisions for Your Personal Finances in 2008 Here the blog owner lists 10 factors that will enable you and your family to be financially successful.
I think that this type of post is important for consumers and helps them understand their personal household economies.

If you like to talk about the following:

  • Oil & Energy
  • Foreign Exchange
  • Economic Indicators
  • Economic Trade
  • Econ Finance
  • Labour Markets
  • Personal Investing...
  • More...

This is a good site to discuss these topics with other people.

Note: I do not personally know the owner of this site, or his/her knowledge or expertise on the subject of economics. I do however like the concept of discussing economics and having people learn about micro and macro economics for themselves.

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when should consumers spend money
- Posted January 25, 2008 by Monty Loree
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When Should Consumers Spend Money?

Lately I've been talking about consumers saving their money and paying down debt. I feel like a bit of a cold wet blanket...

Are there times when spending money for consumer items is ok?

There are different schools of thought on the subject of spending money on consumer items. Some people think you should be frugal and save all your money and buy no consumer items... Other people think you should throw caution to the wind and spend all your money on consumer items.

UPDATE: March 22, 2013
I have become even more frugal these days... I am fixing stuff around the house instead of throwing it out and buying a new one. I am deriving great satisfaction from repairing things and using them. It gives me more of a sense of ownership.

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I'm not watching the financial news anymore
- Posted January 25, 2008 by Monty Loree
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I'm not watching the
financial news anymore

I've been watching the financial news through out the day for the last few weeks. I watch CNBC TV, and BNN TV when I need to get a five minute break from what I'm doing.

The problem I have is that the commentators seem to say the same things over and over again. (Maybe I'm watching too frequently) They're talking about how bad the economy is. They're talking about subprime. They're continuously talking about all of the problems.

One of the things I try to listen for is, how consumers can help themselves during this time of financial stress... I don't hear the answer to that very much.

The commentators and guests on CNBC are eager to talk about what the companies need. They talk about what the banks and lenders need. They don't really talk about what the consumers need.

The consumers NEED to put some cash reserves in their accounts and get fiscally responsible. They need to get their household debt paid down, and cash reserves up. This is a completely unpopular point of view on international financial broadcasts.

Financial stations won't talk about how consumers need to save money and pay down debt, because that would pretty much kill the conversation. That would stop all of the commentary about what the consumer needs and how companies can innovate.

Companies need consumers to spend money in order for them to grow and for their stock prices to keep rising. Consumers wouldn't be spending money if they were saving money instead.

Consumers saving money would be economic suicide for the economy... in the short term. In the long term, consumers with a healthy savings account and low debt would be the best for the economy.

If all of a sudden all consumers who had no savings and high debt started saving their money, they wouldn't be spending money.. That would take the wind out of the corporate profits in all consumer sectors. The stock market would crash in a very short time period.

I hate to take the unpopular stance that consumers shouldn't do what's necessarily good for the corporate world... they should do what's best for themselves.

Consumers need to build up their household financial strength. This may be less exciting than spending all of their money, but it's really the best way to go.

Corporations will take care of themselves. If you're worried about corporations going bankrupt because of your lack of spending, then don't.. Corporations will look after themselves. They'll get better at giving the consumer what they need instead of what the corporation feels they need.

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25 Dumb Ways Consumers Can Help the Ailing Economy
- Posted January 21, 2008 by Monty Loree
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25 Dumb Ways Consumers Can Help the ailing economy...

The following are really dumb ways to raise cash so that you can go out and spend it all... to help the ailing economy!!

  1. Get another cash advance on your credit cards
  2. Take out another payday loan
  3. Have a garage sale and sell things you need to raise money
  4. Take up a collection at church
  5. Do a sports pool at the office
  6. Buy $5,000 worth of lottery tickets and hope you win
  7. Borrow money from your family
  8. Sell off some body parts.. ie. your liver or a lung
  9. Sell your car for cash, even if you take a loss
  10. Get a 2nd or 3rd job
  11. Sell all of your family heirlooms on
  12. Apply for as many credit cards as you can find.
  13. Contribute to the sperm bank each day
  14. Sell your wedding rings, and other valuable items.
  15. Borrow money from friends
  16. Get a 2nd or 3rd mortgage on your house
  17. Stop making payments on your household bills
  18. Stop paying credit card companies
  19. Ask a pawn shop if there are any items they are short of.
  20. Donate blood each day for money
  21. Start an international advance fee loan scam.... start asking Nigerians for their money
  22. Learn how to photo copy $20 bills
  23. Cut your hair off and sell it at a charitable auction event
  24. Rent out your kids for a week to those unfortunate couples who have no kids
  25. Finally...Completely max out all of your credit cards, lines of credits, overdrafts, and any other credit facility you have

These are all very dumb ways to raise money. But.. once you have the money, make sure you spend it all. Take this hard earned money to your Walmart, HomeDepot, Sears etc and spend it until it is all gone. Spend your self into a coma. This will surely help the economy...!!

This is what it seems like the governments are telling us... Spend ourselves out of this recession no matter where you get the money from.

If consumers are maxed out on their credit cards, and are suffering from a credit hangover, how on earth are they going to spend us out of a recession.

That is why I thought of these 25 dumb ways for consumers to help the ailing economy.. Honestly... these ideas are about the same as what the governments are telling us to do!

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Repairing Credit vs Saving Money
- Posted January 21, 2008 by Monty Loree
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Repairing Credit vs Saving Money

I thought I should write a little about my stance on saving money, using credit cards and repairing credit.

If you're saving money, should you be using credit cards? Is this a good thing to do? If you're repair your credit, should you be using credit cards?

NOTE: This discussion assumes that you're in the process of rebuilding your credit, paying off excess debts, and don't have much cash reserve savings.

Having good credit is about having a balanced approach. You need to be actively saving money AND actively using your credit cards.

Creditors want to see that you are actively using your credit cards and paying them as agreed and up-to-date on a regular basis. This is what builds your credit score over the long term.

Saving money and putting away a cash reserve is also an important part of rebuilding your credit.

I spoke to the CIBC Bank's credit department last week when I was doing research for some previous posts.

the customer service rep there mentioned that it's better if a person pays off their credit card in full each month, compared to making minimum payments each month.

Paying off your credit card balance in full is not what the credit card companies wants you to do. They would rather you make minimum payments each month as they make more interest that way. It's a bit of a contradiction.

Paying off your credit card balance in full each month means that you've got enough money in the bank to cover your debts. Paying only minimum payments each month means that you may be cash strapped and can only afford to make minimum payments. This puts you at higher risk than somebody who has adequate cash reserves.

Saving money is good for your credit score as the following illustrates.


  • Consumer A has $0 cash savings and $2,500 in credit card debt.
  • Consumer B has $5,000 in cash savings and $2,500 in credit card debt.

While both consumers have $2,500 in credit card debt, Consumer B is clearly in a much lower credit risk situation than Consumer A. If anything happened to Consumer B's income, she would have enough cash reserves to make at least minimum payment for many months. If Consumer A had a loss of income, she'll be immediately at risk of not making her credit card payments.

The funny thing about saving money is this. The more you save, the less you'll tend to spend on credit cards. The more cash you have in the bank, the more you'll tend to buy things with cash. The reason being, that nobody wants to pay 18.9% interest on debt that they used to buy an item when they can pay for the item in cash.

Thus the more money you save the more likelier you are to pay in cash.

While I am all for paying cash for items, you still need to build your credit rating to buy a home, car and other necessary items.

If you're saving your money and trying to pay cash for items but still want to repair your credit, it's a good idea to use your credit cards sparingly and then pay them off every month.

Example, I use my rewards credit cards to buy items that I would normally pay cash for.. I then pay off these credit cards every month. (NOTE: I do this because I have enough cash to make full payments every month. I DO NOT promote paying cash for utilities if you're cash strapped and living on credit!!)

So, by paying for my cable bill with my credit card, I am collecting air miles, keeping my credit cards active, and then paying the credit card off in full every month. This is a win win situation all around.

If you haven't tried it, start saving money and see how it feels to have enough cash reserve to make minimum payments!

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Loree's Economics - Let the economy correct itself
- Posted January 21, 2008 by Monty Loree
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Loree's Economics
Let the economy correct itself

Some people are armchair quarterbacks... from time to time, I like to be an armchair Fed Chairman!

I have been watching the news lately about the stock market melting down. It's depressing, but the expansion had a bad premise in my opinion.

The U.S. government is going to give an aid package of $800 to each american as a way to pick up the economy. And as the commentators have nicely said, "people will go to walmart and buy potato chips and IPODs".

That's not going to pull a country out of recession.

Americans are way too deep in debt. They're maxed out and can't really afford to spend much more. There isn't any elasticity left on their credit cards or lines of credit.

Americans Have:
Debt: $Trillions
Savings: Not Much

The best thing for Americans to do is to save their money, and get in control of their debts.

It made the news (Bloomberg) on Jan 11 that American Express was showing a write down of $275 million due to customer defaults.
American Express dropped $4.92, or 10 percent, to $44. The company said it will take a fourth-quarter charge of $275 million to cover rising customer defaults.

This means that the credit situation in the U.S. is not only affecting the mortgage market, but also the credit card market.

And.. with the looming recession there are starting to be major lay offs announced..

Layoffs mean that bills won't be paid "up-to-date and as agreed".

Individuals socking away money for the future is really bad for the economy. It's not actually what the governments want, or what big businesses want.

When you save your money, you're not spending your money. Plain and simple. When you're not spending your money, the big companies don't make money.. It's bad for the big companies and governments, and good for the consumer.

When you save your money, companies don't make their profits. If companies aren't making profits, they lay off employees. Governments are affected as these laid off employees don't pay taxes, and with lower earnings, the government doesn't receive as much corporate tax.

In my opinion, the consumer should take a few years off from spending. They should pay down their credit cards and lines of credit, and put some money in the bank. They should correct their household balance sheet.

If the government hands out $150 Billion ($150,000,000,000) in aid to Americans, consumers should take the money and pay down credit cards.

SAVINGS ON $150,000,000,000 OF CREDIT CARD DEBT AT 18.9%
Let's see... if Americans took all of the money that the feds gave them and paid down their credit cards they would save
$150,000,000,000 x 18.9% = $28,350,000,000 ($28.3 billion) in interest charges. (Bad for the credit card companies)

Consumers would earn money on the savings if they put the money in the bank instead.:
$150,000,000,000 x 2% = $3,000,000,000 ($3 billion)
This assumes that people would get an interest rate of 2% from their banks. (Bad for the banks)

If consumers saved this money, big corporations would get $0.00 of it. Goverments would get less tax money.

Saving money and paying down credit cards is the CORRECT solution for the consumer, however, it is the wrong solution for the ailing economy!!

Consumers need to take a spending holiday for a few years to repair their personal balance sheets. I hope they start to take action in the coming months.

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HSBC Canada & Personal Finance - Be fiscally healthy in the New Year 2008
- Posted January 20, 2008 by Monty Loree
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HSBC Canada & Personal Finance - Be fiscally healthy in the New Year

I got this info from Tara Knight who works over at She asked if I wanted to publish some info about personal finance and HSBC..

As the New Year approaches there is a great deal of talk about physical fitness and well being, consider another facet for 2008 – fiscal health. Making a commitment to yourself to save a little extra just takes a few simple steps. Here are some handy tips you can use to get into fiscal shape right away!

#1 – Build good habits
Develop good habits over time when it comes to saving, start by setting a goal for what you would like to save, and then you can work out how much you will need to save each month to get there.

Set up a separate savings-only account, where you can keep your money out of range of an impulse buy.

Tip: Online calculators, like the one at, can calculate your monthly savings needs for that long-term goal. It demonstrates exactly how much to put away each month to reach your savings goal within a given time frame. For example, if you consistently save $260 a month, in three years you will be a super- saver with $10,0000 in your online savings account!

#2 – Stretch it out a little
Make your savings the same priority as your monthly bills and make the deposit at the beginning of the month to ensure it is made every month or better yet arrange an automatic transfer into your savings account. Don’t wait to the end of the month when your reserves are running low. By paying yourself first, you will budget accordingly and ensure that you make a full contribution every month to your future.

3 – Cut the extras
We all like to treat ourselves – but forgo one treat a week and those little bucks can add up to big bucks to your high-interest savings account over the year! Think about it, skipping that afternoon latte could add as much as $1000 at the end of a year - that’s a lot of zeros you can invest in yourself instead of coffee!

#4 – Maximize your return
Once you have your savings underway, you need to ensure you are making the most of it – depending on your goal there are lots of tools online that can you help you decide which option in best for you. Check out HSBC Direct’s Smart Tools, it looks at all sorts of vehicles including GICs, savings bonds, regular savings accounts and high interest online savings accounts. Keep in mind that a higher interest rate means your money grows faster.

Tara also sent me this note:
Hi Monty

I read your posting on High Interest Savings accounts - it was a great overview, but one was missed! HSBC Canada offers a great option, the HSBC Direct Savings account.

I've included the account features below - but check it out for yourself at www.!

Features: 4% Interest Rate
• No monthly fees
• No minimum balance requirement.
• Free bank to bank transfers
• 24/7 access through online, telephone banking or ABM
• You don't have to open a chequing account with HSBC, HSBC Direct Savings Account works with the account(s) you already have.
• Free deposits and withdrawals at over 4,100 ABMs nationwide - Canada's 2nd largest ABM Network.
• Free bill payments and pre-authorized debits

I hadn't covered HSBC on the previous post about Highest Interest Savings Account Rates with Canadian Banks, as that post was intended to talk about the major Canadian banks.

Hopefully I can do a post about savings accounts with ING Direct, HSBC, and some of the non-major banks in Canada.

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Why Prepaid credit cards? 9% of the U.S. population don't have bank accounts
- Posted January 20, 2008 by Monty Loree
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Why Prepaid credit cards?
9% of the U.S. population
do not have bank accounts

FROM USA Today's Article titled:
Wal-Mart to offer prepaid payment cards

I was talking to somebody in the U.S. who was looking for an "instant prepaid credit card". This means that they could set up the account online, like paypal, add cash, and then be able to use it within minutes.

I was curious and did a search which lead me to the article about 9% of the U.S. population not having any bank accounts. I can only think that Canada would have similar numbers.

According to this article:
A survey by the Federal Reserve shows that these "unbanked" consumers prefer not to deal with banks or feel they don't write enough checks or have sufficient cash to open an account.

I think that we can safely assume that these numbers don't include children or anybody under the age of majority who can't enter into contracts by themselves.

People who don't have bank accounts aren't able to save money, don't have any relationship with a bank, assumedly don't have any credit.

It's probably difficult in this day and age for people to not have bank accounts since it's a credit and debit card (ie.. NOT CASH type of system we live in). This means that they would have to carry around all cash with them when they go to the grocery store and to buy clothes and household goods.

For the people who have criticized consumers who shop at Money Mart, payday loan stores, and who are looking for prepaid credit cards.

If you don't have a bank account, a prepaid credit card may be the only way to carry your money with you safely. If you get robbed, or lose the card, I'm sure you can easily get a replacement card. But at least you're not carrying around a wad of cash all the time.

This USA Today article was based on information given by the U.S. Federal Deposit Insurance Corp. I'd be very curious to know the equivalent numbers for Canadians.

The bottom line: for those who have criticized people who use prepaid credit cards, this seems to be a sizable chunk of the market place!

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Walmart is not a good place to relieve boredom
- Posted January 14, 2008 by Monty Loree
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Walmart is not a good place
to relieve boredom

I was out for weekly shopping the other day. I was buying items that I can't get at my local neighbourhood stores.

I went to Walmart as I figured they would have reasonable prices for what I was looking for. I must confess that I also needed to get out of the house.

As I was looking around, I saw a lot of people who looked bored and it occured to me that many other people might be going to Walmart because they were bored, and needed to get out of the house.

So... Walmart gets extra market share because they entertain people. They give people a nice, warm and safe place to go. Spend a few dollars...

I guess it's better than going to the Casino!!

My point is, and I'm trying to internalize this myself, "why not figure out something else to do?" Like get a hobby, visit neighbours, learn to bake bread.

Again I am writing this partly as research for my new DON'T SPEND MONEY project.

If you really sat and thought about it.. what would you really want to do if somebody gave you $100 and told you to spend it on something you need. Would Walmart be your first destination point? Would you go to Walmart just to hang out with your $100?

This post is for me to pose some questions.. I don't really have the answers at the moment.

I do know that going to Walmart to relieve boredom is a ridiculous idea. If this is what our culture has come to, we need to find better things to do with our time!

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Managing Money - I've Stopped Spending Money
- Posted January 14, 2008 by Monty Loree
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Managing Money - I've Stopped Spending Money

In talking about getting people to save their money and be a little more thrifty, I've decided to do a little experiment.

I'm trying to quiet my lifestyle down a bunch and have decided to stop spending money. I've decided to drive the car very little. I'm penny pinching when it comes to buying groceries. (I walk to the store to buy groceries.)

This also means that I've almost completely cut out restaurant going. I don't go see movies. I don't buy books etc. I'm going on a consumerism starvation diet.

I guess I should also mention that I don't have a cell phone, or lap top, and my current computer is 4 years old! We have a 27" TV which is about 10 years old, IE.. Not a 50" TV...

My goal is to completely reign back my spending until I go cross eyed.

The purpose of my experiment is to see what happens when I'm not going 24 hours a day, and feeling like I need to go to a restaurant each day, and buy a new toy on a regular basis.

In my previous life style, I used to go out to restaurants 2-3 times a day. I was constantly spending money on computers, computer gadgets and things for my company. I used to spend money as "medication" because I was usually overstressed and needed a distraction from the office.

Going to restaurants 2-3 times a day meant that I never had time to cook a proper meal. I never had the pleasure of cooking at all. As a matter of fact, I never really had the pleasure of doing much outside of work. (While I do enjoy my work, I really needed to do other stuff)

These days, I am starting to cook at home. While food processing is way more time consuming that I first imagined, the food tastes much better. I am taking a great deal of pride in what I am cooking. I am saving alot of money by not going to restaurant. Also I am not packing on the pounds like I used to because of restaurant food. I control my calorie intake much better.

(I can't believe that I used to crave McDonalds food every day!!)

I used to look at the computer commercials on TV and say... I need that new computer. I need more hard drive and ram. Or the latest video card etc.

There was always something I needed to go out and buy.

Since September 2007, since my Cadillac lease finished up, I've decided not to get another vehicle. I've decided to use my wife's car, if I really need to go some where. (BTW... I really liked my 2003 Cadillac CTS..)

I've actually decided that I won't get another vehicle until I lose 80 lbs. You may question what weight loss and buying a car have in common... I figure that I should be walking , riding the bicycle, going to the gym instead of driving around buying things.

Now that I'm not spending money and I'm staying home more, I have much more time to spend with my family. We have way more fun that we used to. Because I kept myself busy with work, I didn't spend quality time with my wife and kids.

Oh yeah, we're debt free and have no mortgage...
I am currently saving my money and looking for good investments...

So... my preliminary thoughts on the whole project is this...
"I never thought I would say this, however, spending less money, means better quality of living. "

I am going to continue with my stop spending money project... I actually think that it will become my new lifestyle.

I will report some more of the benefits as the days and weeks go by.

Monty Loree

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IVA's are the UK way to do debt settlement
- Posted January 13, 2008 by Monty Loree
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IVA's are the U.K. way to do debt settlement

I've been asked to do a review about This site offers an IVA service in the U.K. An IVA is an Individual Voluntary Arrangement.

With all of the news about the subprime problems that are happening in the U.S., I'm certain that there are a good percentage of individuals in the U.K. that are experiencing the same type of credit problems. Many people are stressed on and on the verge of bankruptcy.

This is why it's important that this site offers debt management to its clients. When a person is under a great deal of financial stress, they need advice and consultation on what to do. That's why it's important to have trained individuals who know how to sort out an individuals debt issues.

If you live in the U.K. and are experience debt problems and are even possibly close to bankruptcy, it might be a good idea to visit MoneySolve

I have no personal knowledge of or any of its employees. The site appears to offer some good quality information about IVA's, debt consolidation, credit repair etc. They're not asking for sensitive personal information, which is good.

The above is a paid review

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Canadian Life Insurance Companies - Other Financial Services They Offer
- Posted January 11, 2008 by Monty Loree
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Canadian Life Insurance Companies - Other Financial Services They Offer

Along with my research of the major Canadian banks, I thought I would have a look and see what types of savings/investment products life insurance companies offer to Canadians.

  • TransAmerica Life Insurance
    TransAmerica Life Insurance offers the following investment products.
    • imaxGIF™
    • Transamerica investment portfolio™
    • GROWSafe®
    • IMS Funds
    • Alliance Segregated Funds
    • Annuities

  • AIG Assurance
    • Market Indexed Accounts that follow global stock markets,
    • AIG Market Portfolio Indexed Accounts that combine the performance of Treasury Bills along with selected stock market indices*,
    • Managed Indexed Accounts utilizing selected mutual fund companies,
    • Managed Portfolio Indexed Accounts that offer you diversified, managed investments,
    • Custom Portfolio Indexed Accounts that benefit from the performance of numerous selected mutual funds, and
    • Daily and Guaranteed Interest Accounts.

    According to their site, Member companies of AIG Investments manage more that US $685 billion in assets and employ over 2,000 professionals in 44 offices around the world as of March 31, 2007.

  • Canada Life Insurance

    According to their website, Canada life offers the following Savings/investment services.
    • Investments
    • Private Collections
    • Contact Investments
    • Summary Fact Statements - Fund Information
    • Generations
    • RRSPs
    • Money Monitor
    • Retirement Income Accounts
    • Canada Life Asset Allocation Funds
    • Savings Accounts
    • Flex
    • Comprehensive Annuity Policy (CAP)
    • Guaranteed Terms
    • Payout Annuities
    • Segregated Funds
    • Audited Financial Statements
    • Investments

  • Empire Life Insurance
      According to their website, Empire Life Insurance has the following Savings/Investment services
    • Portfolio Funds
    • Elite Family of Funds
    • Elite Investment
    • Program
    • Guaranteed Interest
    • Options
    • Elite RIF
    • Group RSP
    • Segregated Funds

  • Industrial Alliance Life Insurance
    According to their website, Empire Life Insurance has the following Savings/Investment services:
    • Focus Funds
    • Income Funds
    • Diversified Funds
    • Canadian Equity Funds
    • U.S. & International Equity Funds
    • Principal Guaranteed with Market Investments
    • Principal Guaranteed with an Alternative Investment
    • Guaranteed Interest Funds

The point of this blog post is to illustrate that there are other alternatives to the major banks if you want to look for places to save your money.

With all of the bad economic news lately, it's a really good time to think about getting our personal finance lives in order. Save up money and pay off debt. Increase our personal balance sheets.

Canadian life insurance companies can help you save your money.

NOTE: Canadian prime rate as of February 8, 2008 is 6%
This blog post is relevant for the following provinces.
Canadian Canada British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Newfoundland, New Brunswick, Nova Scotia, Prince Edward Island

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highest interest savings account rates with canadian banks
- Posted January 11, 2008 by Monty Loree
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Highest Interest Savings Account Rates with Canadian Banks

Today's project is to get onto each of the major Canadian bank's websites and look for their highest interest rate savings accounts, and see what is required to make a few percentage points.

UPDATE: As of January 29, 2010 New High Interest Rate TFSA posted here:

These days I'm trying to encourage people to save their money and put away cash reserves .

There are two types of bank accounts. Chequing and savings.. I'll be concentrating on savings accounts.

It's important to note that the higher interest rate accounts are for those who are going to leave the money the account, and not touch it.. It's a non-active savings account.

As follows: NOTE ABOVE, These rates have been updated

  • TD Canada Trust (TD)
    Personal Banking Accounts
    GIA Savings Account - Savings of $5000+ Only
    - 3.5% interest
    1 free transaction - any extra transactions is $5.00 per transaction

    Less than $5,000 Tier account - .05% Interest

  • Royal Bank (RBC)
    Personal Banking Accounts
    RBC Esavings Account
    4% Interest Rate - No minimum balance required
    Features: Unlimited online banking transfers from this account to other RBC Royal Bank accounts in your name
    All other debit transactions, cheques, in branch, ATM, Telephone, or Online Banking bill payments $5.00 each

  • Bank of Montreal (BMO)
    Personal Banking Accounts
    Premium Rate Savings Account
    up to $59,999.99 (s) - 2.250%
    $60,000.00 and over (s) - 4.000%
    Details: This is a traditional savings account which includes deposits, withdrawals and transfers but does not include debit card purchases or bill payments.

  • Bank of Nova Scotia (ScotiaBank)
    Personal Banking Accounts
    Money Master® High Interest Savings Account
    Annual Interest Rate* - 3.500% No minimum monthly balance required - no fees if you do all your transactions online.
    For use with electronic banking
    If you use this with electronic banking only you'll get the 3.5% interest rate..
    If you use the ATM to make a transfer or point of sale purchase, you'll pay $5.00 per transaction.

  • Canadian Imperial Bank of Commerce (CIBC)
    Personal Banking Accounts
    CIBC Bonus Savings Account
    Balance up to $4,999.99 0.100%
    Balance $5,000.00 or more 3.5%

    Flexible GIC - < $5,000 2.9%
    Flexible GIC - > $5,000+ 3.0%

The best interest rate of all for savings accounts with the major banks is:
RBC's Esavings Account - 4% Interest Rate - no minimum balance required

If you carry a balance of $5,000 with a 4% for 1 year, that will yield you $200 interest.

Conversely... if you OWE $5,000 with a 19.5% interest rate card, for one year that will cost you $975 in interest charges.

NOTE: Canadian prime rate as of February 8, 2008 is 6%
This blog post is relevant for the following provinces.
Canadian Canada British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Newfoundland, New Brunswick, Nova Scotia, Prince Edward Island

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Are skip traces legal in Canada? Collectcorp Collection Agency
- Posted January 10, 2008 by Monty Loree
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Are skip traces legal in Canada? Collectcorp Collection Agency

I just received a call from an anonymous collection agency -CollectCorp 647-722-6009. BTW... 647-722-6000 is CollectCorp's admin office's number

The person calling was looking for, Robert Arnold Loree... which is not me. I don't know Robert Arnold Loree.

I asked the person calling if they were a collection agent. They replied that that was NONE OF MY BUSINESS.

I asked this person what their name/operator ID was. They replied that that was NONE OF MY BUSINESS.

The fellow asked me again if I knew Robert Arnold Loree.. I replied , "No I don't". He then said that because of the tone of my voice I must know who Robert Arnold Loree was... I said, again, NO I don't...

This went back and forth for a few minutes.. I was asking him if he was a collection agency, he was asking me if I knew this guy.

I explained that it was illegal for him to be asking for information about another person without that person's permission.

I told this collection agent that P.I.P.E.D.A. ( ) states that a company must get permission from an individual to collect or disclose their personal information. He replied, that skip traces are perfectly legal in Canada.

I strongly disagree that skip traces are legal in Canada.

I did a search for 647-722-6009 and not surprisingly this site comes up that this number belongs to CollectCorp. Also listed is the CollectCorp's main admin office at: 647-722-6000.

I spoke to Michael who is a collection agent trainer with CollectCorp. I argued these points back and forth with him for a few minutes and then he transferred me over to CollectCorp's compliance officer.

Joyce Morrison is Collectcorp's compliance officer/Manager of Regulatory Services. I told her my complaint, and she said she would take my name and number and get back to me.
I asked her for proof that the collection agent calling was licensed to collect in Saskatchewan. She couldn't tell me.

I asked her if she thought skip traces were legal in Canada.. She couldn't tell me that either without doing some investigations.

Joyce Morrison's - Manager of Regulatory Services for CollectCorp's phone number in Toronto is 416-961-9622. Her fax number is: CollectCorp: 647-722-6026

I asked Joyce how long it would take for her to get back to me. She said that she had no idea how long it would take... (Translated : NEVER)

I just put a call in to the Privacy Commissioners Office to inquire about the legalities of skip traces in Canada.

I also called Saskatchewan Consumer Protection to get a reading on if a collection agency can call and not say who they are or which company they are calling from.

So... are skip traces legal in Canada?
I am going to do some research and blog about that another day!

This was not a collection call to collect money from me. This was a collection call to do a skip trace on a person with the same last name as me. It infuriates me to no end...

Ha... this collection agent calls me on a blogging day!!

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canadian credit card best interest rates
- Posted January 10, 2008 by Monty Loree
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Canadian Credit Card Best Interest Rates

I called up the major banks today to get some information about their best interest rates credit cards. For this post, I will talk about the highest interest rates and lowest interest rates that Canadian banks offer.

(NOTE:Canadian prime interest rate is currently 6% and fluctuates regularly.)

As follows:
  • TD Canada Trust (TD) Visa -
    TD Canada Trust's lowest interest rate card is the TD Emerald Visa. It offers a rate of prime + 1.9% to prime + 6.9%. This currently equates to 7.9% - 12.9%.

    The highest rate charged for a TD Visa is 19.5%

  • Royal Bank (RBC) Visa -
    Best interest rate charged for a RBC Visa is 11.5% and is not based on prime +.

    The highest interest rate charged by RBC Visa is 20.5% for their Advantage Gold card.

  • Bank of Montreal (BMO) Mastercard -
    With BMO, I stayed on the phone on hold waiting for the customer service rep for 20 minutes. After I asked a few preliminary questions, I was transferred to the CSR's supervisor. My call then went into outerspace.

    Thus, no interest rates to report for Bank of Montreal (BMO) mastercard credit cards.

  • Bank of Nova Scotia (ScotiaBank) Visa -
    Best interest rate charged for a ScotiaVisa is 11.4%.
    The highest interest rate charged for a ScotiaVisa is 18.5%

    ScotiaBank has a ScotiaLine Visa which offers interest rates between Prime +2% - Prime + 4%. These are currently cheaper than the 11.4% regular visa cards, but can move upwards if Canadian Prime interest rate moves higher.

  • Canadian Imperial Bank of Commerce
    (CIBC) Visa -

    Best interest rate charged by CIBC Visa is 11.5%. This card has a $29 annual fee.
    The highest interest rate charged by CIBC Aerogold Visa is 19.5%. This card has a $120

The interest rate for the TD Emerald Visa is based on your credit score. The higher your credit score, the lower the interest rate.

Gold MasterCard��® with a 11.9% Interest Rate
(This card requires a good credit rating)

  • Capital One Reward Miles Platinum MasterCard
    Annual Purchase Interest Rate: 17.9%
    Annual Interest Rate for Cash Advances: 19.8%

  • Capital One - Secured MasterCard
    19.8% variable
    (A variable annual interest rate of Canadian Prime plus 13.55%, currently equal to 19.8% as of July 2007.)

  • Capital One GoldMasterCard
    9.9% until April 2008; 19.8% variable thereafter
    (A variable annual interest rate of Canadian Prime plus 13.55%, currently equal to 19.8% as of July 2007.) -->

    This blog post is relevant for the following provinces.
    Canadian Canada British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Newfoundland, New Brunswick, Nova Scotia, Prince Edward Island

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    mbna credit card directory alot of specialty cards
    - Posted January 10, 2008 by Monty Loree
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    Canadian MBNA Credit Card Directory
    Alot of specialty cards

    I found this MBNA Credit Card Directory here:

    MBNA Card Directory for Canada
    A wealth of choice. Find a card that suits your lifestyle.

    Charitable Causes
    Canadian Wildlife Federation
    Ducks Unlimited�®
    Humane Society of Canada�®
    The Royal Canadian Geographical Society

    College & University
    Acadia University
    Athabasca University
    Brandon University
    Brock University
    Dalhousie University
    George Brown College
    Lakehead University
    Laurentian University
    Memorial University of Newfoundland
    Queen's University at Kingston
    Royal Military College
    Ryerson University
    Saint Mary's University
    Seneca College
    Sheridan College
    Trent University
    University of Alberta
    University of British Columbia
    University of Calgary
    University of New Brunswick
    University of Ottawa
    University of Toronto
    University of Victoria
    University of Waterloo
    University of Western Ontario
    University of Windsor
    York University

    MBNA Canada credit cards

    Platinum Plus�®
    Sony Card
    Edmonton Eskimos with ESKS Rewards

    MBNA Canadian rewards credit cards

    General Rewards
    Edmonton Eskimos with ESKS Rewards
    Sony Card
    Star Choice

    MBNA Canada credit cards

    Career and Professional
    Canadian Bar Association
    Canadian Nurses Association
    Canadian Physiotherapy Association�®
    College of Family Physicians of Canada�®

    MBNA Canadian career credit cards

    Travel Rewards
    Best Western
    Starwood Preferred Guest�®

    MBNA Canada sports credit cards

    Edmonton Eskimos with ESKS Rewards
    Major League Baseball�®
    PGA TOUR, Inc.�®
    American Quarter Horse Associationâ„¢
    Bombardier Sea-Doo�®
    Bombardier Ski-Doo�®
    Toronto Blue Jays�®
    Toronto Raptors�®

    I had no idea that there were so many different types of MBNA Mastercard products!!

    I found that the major Canadian banks only carry a few credit card products. Most aren't specialized.
    It's nice to see that MBNA is catering to people's interests.

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    capital one rebuilding credit cards
    - Posted January 09, 2008 by Monty Loree
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    Capital One - Rebuilding credit cards

    I have been getting plenty of inquiries and feedbacks from people who are trying to upgrade their credit limits with a Capital One secured credit card

    One person claimed he had a Capital One secured card for six months and has been religiously paying his bills on time. But when he applied for an increase in his credit limit, his application was denied.

    Another said he had a Capital One "credit rebuilder" card for a year now and has not been able to secure a credit increase even though he applied with Capital One several times.

    I have made some initial inquiries into this matter and contacted the customer service at Capital One to get some more information.

    My initial findings were this:
    If you are using your credit card every month and paying your monthly dues on or before its due date, you are building a good credit rating with Capital One (or any other credit card company).

    The credit card company may want to see how you do with your secured card for one year or so to develop a good credit history. But the company may also consider other factors when deciding to give you a credit upgrade.

    Ultimately, Capital One secured credit card will report your financial activity when using its card to Equifax and TransUnion each month. Your good payment history in your credit card usage will upgrade your credit score and ultimately your credit level.


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    DIY Credit Repair Ebook For Canadians - Part 1
    - Posted January 09, 2008 by Monty Loree
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    DIY Credit Repair Ebook
    For Canadians - Part 1

    Table of Contents

    Chapter 1 … Introduction Pg 3
    • Why I started helping with Credit Repair
    • It’s taken the time to learn
    • Credit is every where - Too Many credit Listings to Manage
    • Credit Bureaus have 3.6 Billion credit items to manage?!?

    Chapter 2 … 3 reasons why you need to do credit repair Pg 7
    • Keep your information accurate
    • Saves time
    • Saves money

    Chapter 3 … Items listed on your credit report Pg 10
    • 49 Things listed on your credit report

    Chapter 4 … Credit Repair Stories Pg 12
    • Inaccurate $466,000 Judgment
    • Bankruptcy listing Errors
    • Robert N. Clark wins a case against Equifax in Canada!
    • Monty Loree has duplicate credit trade items on credit report

    Chapter 5 … Getting the answers Pg 16
    • DIY Credit Repair Ebook for Canadians – Part 2 Outline

    These are the chapters from my new credit repair ebook that I am giving away to ALL Canadians absolutely free!! It helps Canadians ask the initial questions surrounding credit repair.

    This FREE credit repair ebook is for the following people:

    • If you're not sure why you should have a look at your credit report
    • You don't understand who the credit bureaus are, or who they report to.
    • You don't know how to tell if you've got errors on your credit report
    • You don't know what is listed on your credit report.

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    More articles from 2008's New Years Resolutions
    - Posted January 02, 2008 by Monty Loree
    Post Back Link to Canadian Money Advisor's New Years Resolutions

    We're starting 2008 in pretty good shape. I took the last few months of the year to hone up the software and systems in the site. I can honestly say that 90+ of my construction is finished.

    It's now time to write more blog posts, get on the discussion forum more and spend more time giving our readers valuable information.

    As my boss once said (paraphrased) - if you're going to have a bad year, you might as well have a really bad year. He was talking about the income of our company in 1987. The company was going to lose 45 million, and they had to add another $20 million in write downs. This would make the corporate loss $65 million. He also said that with these additional write downs taken, the next years income statement would look nice and healthy.

    That's how I viewed 2007. I had it in my head that I was going to learn software development and rebuild this site the way I wanted it. I knew that it was going to drain my time, and it did.

    What the process did, was allow me to be able to make changes to the site whenever I need to. I started off with a blog in, Financial Maturity Blog, but I quickly realized that I was stuck with its limitations from here on in.

    I've been able to build the functions and features that will help out the site very well over the next several years.

    2008 is going to be a much more dynamic year for I've got alot of plans for the site.

    I will be working with other companies and site owners to offer information ebooks, and mini personal finance courses. My goal is give an abundance of personal finance materials to help people strengthen their personal balance sheets and income statements.

    As I mentioned earlier, I have finished up much of the structural systems for the site. I am currently working on the store part of the site where people can buy ebooks, courses, and other materials as I find them in Canada.

    My goal is to become the premiere seller of personal finance products and services . It's a lofty goal, however, I am genuinely looking forward to doing it.

    Cheers!! - to 2008!

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    Canadian Money - New Years Resolutions - 2008
    - Posted January 02, 2008 by Monty Loree
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    Canadian Money - New Years Resolutions - 2008

    I thought it would be fun to sit and think about some idealistic new years resolutions for Canadians. What would happen if Canadians took a cash only policy and ran with it? Not feeling like we've got to spend every cent that's in our pockets. Actually saving cash reserves, and looking out for the future.

    Canadians would feel alot more confident about their finances and would laugh at any type of credit crunch that may be in the near future.

    Get in control of Credit & Debt
    Stop using credit to make purchases and pay down credit cards by 100%

    Start using cash or debit to make every purchase
    Spending only money you currently have. Not spending money that costs you triple because of interest and fees.

    Lower Interest Rates
    Contact each creditor and have their lower our interest rates by at least half.

    Credit Score rises to 750
    We do such a good job with credit repair and learning about the things that negatively affect our credit score that we each build up our credit scores to 750+!

    Collection Agencies fear us
    A collection agency fears us when they call us, because we've studied up on the laws and know how to keep then under control..IE "You listen to me, or I could have your job!!"

    Short Term Savings in the Bank
    Every Canadian has at least 3-6 month cash reserve saved up in their bank account.

    Long Term Savings in the Bank
    Every Canadian is finished saving up their short term savings and is now working on their long term savings.

    Slowing our consumer urges down
    We need to resolve to calm our consumeristic nature down to a very quiet level. Buy the things we need and can afford. Not buy things that will put us in debt and harm us financially in the future.

    Learning more about personal finance
    Taking the time to study up on personal finance so that we get much better control over our expenses and income. We know what we're paying for things instead of guessing. We know about interest rates and credit scores.

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    2012-10-18 08:23:07
    Retail Theft Could Get You Sued
    Bank statements can be demanded or balloon a day even fail to repay the debts incurred from the varied lenders. The offered amount in such cash untill
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    2012-10-15 11:43:43
    Bad Credit Loans For Individual On Benefit And Have Low Income
    Need a loan wanting to buy a atv. Loan of 8,000 dollars is this possible.
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    Adam Brundage

    2012-10-09 18:46:26
    Bad Credit Loan Needed Canada Bad Credit Need A Loan
    Dear Sir / Madam I am Mr.Nikky John of UNIVERSAL LOAN.we offer a variety of financing options at competitive prices to the Consumers who h
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    Mr.Nikky John

    2012-10-09 12:42:44
    Credit Repair Canada 3 Things You Should Know
    to , take up a new job. Also, reflect on investing in generating a payday advance loan while using classmates and more, typically the segments. The in
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    2012-10-09 12:24:31
    How The Debt Based Monetary System Functions In Canada
    incredible cash loan right away inspiration the email mentioned learn more loan service that demand the particular choices signal asset loan applicati
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    2012-09-30 20:03:01
    Cbv Collection Services Problems
    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
    Cbv Collection Services Problems
    Had a bogus 'roaming charge' bill from Telus a few years back. Got mad at them and switched providers. It went to CBV. Yes, they are persistent and
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    2012-09-23 07:37:50
    First Canadian Finance Scam Site
    While these aforementioned dangers are a cause for legitimate concern, there are other dangers that derive from perceptions that often have no basis i
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    2012-09-21 19:09:43
    Car Repossessed Trouble With High Risk Car Loans
    I have had a Carfinco loan for almost 4 1/2 years, I have not missed a payment nor have I ever been late. I had to use this company because I had file
    Comment By:

    2012-09-16 16:42:15
    Retail Theft Could Get You Sued
    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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    a shopplifter

    2012-09-15 05:13:22
    Freedom Prepaid Mastercard Debit Card For Canadians
    Some honest advice... if you need a card to use online DON'T EVEN THINK of using this one. Terrible customer server that disconnects calls on you and
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    Honest Advice

    2012-09-13 11:18:04
    Car Repossessed Trouble With High Risk Car Loans
    Our car loan was with wellsfargo to begin with then transfered to carfinco,. Have never had a problem with them yet and have less than 2 years left on
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    Darlene Fougere

    2012-09-02 18:27:17
    15 Blog Post Articles That Talk About Equifax
    obviously like however you need to test the spelling on several of your posts. A number of them are rife with spelling p
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    2012-08-31 11:32:19
    Retail Theft Could Get You Sued
    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.
    Comment By:

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