Thursday, 21 September 2017

This weeks efforts for Financial independence

Hi all,

Like many bloggers out there, I also have this dream of becoming financially independent one day. But I got this idea and started actively working on it only last year.

I am not very keen on budgeting every penny going out.
My goal is to save $2000 per month. I am almost there now.

Last year itself, we started DIY investing with our RRSP and TFSA. They are not yet maximized.

I am going to look my activities week by week.

I baked a loaf of bread with my bread maker. I bought the flour from Bulk barn.

Then we bought two big bags of beetroots and one big bag of carrots. The beetroots are already in the freezer. The carrots has to be prepped and cubed before freezing.

we are  planning to have home cooked meals for this all week. I am going to make some home made yoghurt as well.

I am on the look out for a new job, which can pay little more. I was thinking having more than one employer is good for the cash flow. But, it cost me more on travelling. Each time i have to pay the bus fair to reach different offices. So, I will look for full time job in one place.

I started reading  book "The Education of Millionaires" by Michael Ellsberg. The book is about sales and direct marketing. I am not finished it yet. But, there are some strategies you can apply while writing your cover letter.

For inspiration I visited MMM blog. I followed the links from the comments and visited some other similar blogs too.

What are you doing this week to save money? What kind of investments you are interested in?


Wednesday, 13 September 2017

My first Healthcare investment

Hi all,
we are all getting old day by day. One time we may have to be in the long term care. That is scary, to think about. But truth is not always pretty and comforting. Same as future. We can prepare for it, but when it comes we have to face it.
Ok, just put aside the blues. I was looking on Motley Fool website one time and found there is a company called Extendicare, providing long term care services. Further research shows that they provide retirement living, long term care, and help to live in your own home with assistance. 
As a dividend investor, I found that the company gives dividends too. It is a Canadian company and longterm care business is not going to be affected by economy. It gives a dividend yield of 5% and the dividends are paid monthly. 
So, that is what I added in my portfolio this month: Extendicare, EXE, @tsx. That will give a dividend of 0.04cents per share every month. Let us see if I will get enough dividends to DRIP. so, hopefully I am getting a bit more closer to financial independence. 

Tuesday, 12 September 2017

The Lessons School forgot to teach us

The Lessons School Forgot: How to Hack Your Way Through the Technology Revolution is a book by Steve Sammartino.

I finished the book in one week. At the beginning he says about how he worked in a factory and how the factory made the workers to keep working to have high productivity. It is funny and entertaining to read.
Sammartino argues that we are all entrepreneurs even though we are really employees working for some one or some company. Just a shift in mindset can make a huge difference in our attitude. With that shift in attitude, we can think of our boss as our customer. In a business, we need more customers. So, why you have to be happy with just one boss.? More than one employer is always better, if we think about it.
We can have more side hustles/projects. It may take a long time and effort to make your own passion to generate an income. But, keep working on it, is the key to make it a success.

Schools are really preparing us to obey the rules, like get a degree, find a job, and save some money to retire.
In this book, you can find new ways of thinking to change the attitude of the boring ways of life.
I really loved reading this book.  As a result of it, I am going to start making a list of book s I am reading. According to Sammartino, most book s can be finished in seven or eight hours. At least one book a month is possible for me.
If you are interested in reading the blog of this Australian futurist and technologist, his blog is here.

Now is your turn: share with me what are you reading now. 



Wednesday, 6 September 2017

August 2017 Passive income

Wow! September it is! Schools are open.
There are no more lazy summer days. 
It is time to look back on August. 

I didn't catch the down moments on the stock market. Life was kind of busy, with some summer activities. I had a balcony garden for the first time. I found out that I cannot be bothered with watering the plants some days. I was drooling over eggplants when we bought the little plants. But, they proved to be not good and bugs were all over them. The peppers are a good option. They didn't get that many bugs. The crop was also fine. I have a big bag of them in the freezer. Got one hot pepper plant inside now. I hope, it will last for at least one more month inside.

Talking about passive income, it is a bit less than that of July: yet I received $223.82. It is still much bigger than last August's passive incomeThis year, till now, I got 1701.26 in passive income. 


Thursday, 31 August 2017

Why do we save money?

August is near to finishing line.  Last week was interesting. There was solar eclipse. Luckily, I got the chance to be outside. With a homemade pinhole camera and folded film strips, I got a great view. Using the old film negatives and a regular sun glass, I was able to view the solar eclipse.

As a side note, the air is getting cooler. Once again, long sleeves and sweaters are out.  A trip to the beech was  awesome .  The plac e was not crowded as usual. To make it a lazy day, we did a take out lunch. That very relaxing weekend didn't cost much.
I read some online articles. Mark Cuban was saying savings will not make you rich. I think, saving money is the beginning to attain financial independence.  To accumulate unlimited amount of money, one needs to invest money aggressively.  Once you have that halo of "money richness", you will be saved from your mistakes. We must remember how the big companies were bailed out by governments in the past. The CEOs who made the big mistakes were rewarded with big bonuses.

Since there is no one to bail us out, ordinary people have to save money for a rainy day. Then with lower risk investments we can grow that a bit .

With no employer pension to count on, people like me has to save money, not to be rich, but to survive the golden years.



Thursday, 10 August 2017

Vermillion It is

I can't believe August is almost half way through.
I am frantically working to make each of our DIY RRSP accounts to have $25,000 each. I made that happen this week by adding more money . 
Now, RRSP 1 has some money to be invested. So, I bought Vermillion energy, VET on TSX. 
It will give a monthly dividend of $ 0.21 per share each month. With 56 shares,I can earn $11 per month. With the ex dividend date on July 28, I am not going to get any dividend this month though. 
But, from September onwards, I will start receiving more dividends. 
I was checking the dividend history. From 2004 onwards, the company was giving dividends. Actually they are giving out the same dividend from 2014 onwards. That is not a bad news. 
From the company website, I can see that it is a global company and is getting traded in NYSE also. 
With the limited number of shares, I will not be able to DRIP any of those dividends. 
Now, with $25,000 in the RRSP account, I will not be paying annual fee to the brokerage. That is a big savings of $100 per year.
Glad to reach that milestone before September this year. 
How you feel when you really achieved one goal ? How will you celebrate it? 


Wednesday, 9 August 2017

I bought a Dyson!

Dear Reader,
I am a frugal person. My family reduced the use of paper towels. My Swiffer sweeper is armed with reusable cloths. 
Then, the title of this blog post is true too. I bought a Dyson vacuum cleaner for myself!!!!
At first I was reluctant to spend that much money on a vacuum cleaner. That is why we bought the Kenmore one five years before. It was doing a good job. But the problem is I have to drag myself to make it work. The cord has to be re-plugged two three times to finish cleaning  my two bedroom condo. It has a disposable bag. so, we need to buy the bags. It was not easy to just get it and do the job. As a result, I procrastinate the cleaning very often. I needed a vacuum cleaner easy to take out and it should do the job without having to adjust the plug. 
The answer came as an advertisement of Dyson!

The light weight vacuum cleaner is hanging on the wall for easy access. I have my carpet and hard floor vacuum heads are on the wall now. Only problem is I can't find a way to put the head that can be used on the couch on the wall. 

My Dyson has no bags. Cleaning the canister is very easy. Just hold it on top of the garbage bin and open it, the dirt is gone! Hubs agreed to do detailed cleaning of the vacuum cleaner once a month.
I can see myself vacuuming the floors more often. As a result, the home is more cleaner now. 

Usually after spending money on something, I will feel the remorse. With this purchase, I am happy. Each time I reach out the Dyson, I congratulate myself on buying it. 

Have you ever bought something that makes you feel happy forever?