Tips to combat the high cost of living?

[8baller8]

What are some ways you guys save money from month to month?

Big one for me is I try to minimize my money spent on food, so I eat incredibly bland. My diet consists of rice, eggs, cornflakes, chicken breast etc. I don't go to the store and by name brand foods, or luxury food items. Basic, easy stuff that is filling, cost effective, while still nutritious.

Other then that, I have the basic automatic rrsp deductions, specified bank account deductions, etc.

Any other tips?

[Kloubek]

I have nothing to add - except that you have an incredibly ironic username.

[roll_over]

Originally posted by Kloubek
I have nothing to add - except that you have an incredibly ironic username. true, only thing to add is get a car that's good on gas

[ercchry]

make more money, enjoy life

[Hallowed_point]

Put a hat out on the corner and learn how to dance a mean jig? I'd
give you a toonie for that :dunno:

[JRSC00LUDE]

You could invest in one of thoe 80's van/mobile living units that our friend is making.

[WhippWhapp]

Originally posted by 8baller8
What are some ways you guys save money from month to month?

Big one for me is I try to minimize my money spent on food, so I eat incredibly bland. My diet consists of rice, eggs, cornflakes, chicken breast etc. I don't go to the store and by name brand foods, or luxury food items. Basic, easy stuff that is filling, cost effective, while still nutritious.

Other then that, I have the basic automatic rrsp deductions, specified bank account deductions, etc.

Any other tips?

Something tells me you don't know how to cook.

By "brand" name I'm assuming you mean frozen or prepared? Making everything from scratch is not only cheaper, but also healthier and tastier.

[DeleriousZ]

Don't move to Vancouver, where cost of living is higher and wages are significantly lower for most non-professional careers.

If you want to truly live on the cheap:

Stop eating out
Live in a hole (or similarly 4 walled shanty)
Walk or take transit
grow your own food (doesn't work well with #2)
get good at staring at a wall for entertainment.

Of course this really sucks balls to actually do lol.

[Maybelater]

Budget all your income. I find this is the best way as it keeps you from over spending, or helps you see what you're over spending on.

Use cellular providers that don't belong to the big three.

Switch to a credit union.

Everything is cheaper on the Internet.

[nobb]

What I do:

-Switch to Mobilicity/Wind
-Eat out less
-Save coupons
-Keep track of ALL credit card purchases and categorize them
-Buy/sell on kijiji. Some items, it doesn't make sense to buy new. Or even if you want new, often times you can get good deals on Kijiji on stuff that is new or like new.
-Shop and compare prices online
-Buy stuff when on sale. Electronics, clothes, tools, car stuff...alot of these go on sale so it usually doesnt make sense to pay full retail unless I need something right away.

[dubhead]

Take it easy on the hookers and blow, that shit get expensive fast.

[Sugarphreak]

....

[max_boost]

Any problem money can solve is no problem at all. :D

[heavyfuel]

For those of you who don't have the option of just throwing 5 or 6 digits into some sort of investment or simply jacking up the rent as you see fit, here's a suggestion.

http://i478.photobucket.com/albums/rr150/2500calgary/make_money_in_spare_time_zpse2dab01c.jpg (http://s478.photobucket.com/user/2500calgary/media/make_money_in_spare_time_zpse2dab01c.jpg.html)

[Rat Fink]

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[heavyfuel]

Originally posted by Rat Fink


A 4 digit investment turns into a 5 or 6 digit investment as long as you get past the short-sighted viewpoint you have.

Ya like what? Put 7 grand somewhere and then 6 years later you have 10? wooo fuckin hoo

I'm talking, double it up, 6 months, starting right fuckin now.

I'm all ears. Go.

Didn't think so.

[Maybelater]

For all you know OP is on the mad budget as part of a long-term plan to make more money. :P

[eblend]

Originally posted by nobb
What I do:

-Switch to Mobilicity/Wind
-Eat out less
-Save coupons
-Keep track of ALL credit card purchases and categorize them
-Buy/sell on kijiji. Some items, it doesn't make sense to buy new. Or even if you want new, often times you can get good deals on Kijiji on stuff that is new or like new.
-Shop and compare prices online
-Buy stuff when on sale. Electronics, clothes, tools, car stuff...alot of these go on sale so it usually doesnt make sense to pay full retail unless I need something right away.

This is pretty dead on for what I do.

-Switched to Wind
-Eat out like once every couple of weeks, wife makes awesome food
-Pretty much only shop at Superstore when they have the "Spend $250 get $25 gift card" time, stock up on shit that won't go bad and is sold at a good price even if you can't buy $250 of groceries. We buy laundry detergent, cat food, cat litter and things like that there.
-Always sell most of my stuff whenever I upgrade of just have no use for something anymore. The longer it sits around, the less valuable it becomes, so unload when you can. Always use kijiji for stuff that doesn't need to be new.
-Always shop online. Ebay for pretty much all small accessories like cell phone cases and such, why pay $20 for a case when it goes for $1.50 online shipped...
-Many online sites have price alerts. Use those. If I want something, I setup a price alert, when the price drops, I buy it. Also when shopping online for stuff, just search "product name price Canada" and you will find comparison sites that show where the product is the cheapest in Canada.

-Switch to PC financial for your banking? Fuck paying baking fees, and when was the last time you actually had to go to the bank? I use them for all my stuff, RRSP, savings accounts, tfsa, chequing and it costs me $0 to do everything I want. Why keep thousands of dollars in chequiung account just to get unlimited transactions when you could be making interest on that money instead, so not really "free" transactions afterall. Works very well for me and very easy to use their website.

I make pretty good money but I still do all of the above as it just adds extra money for me to enjoy. This year I have travelled for 3 weeks already, and got 5 more weeks planned. Doing the above allows me to have these luxuries outside of my standard life expenses. Works for me.

Also a little trick I use for saving money is to save in $500 increments. If I get paid $1960 for example, I would see what I have in my chequing account , and if I can take $40 out of my chequing account I will put all that money into savings ($2000). If I am getting low on funds in the chequing, I would take save $1500 and put the $460 into chequing. This allows me to repeat this process over and over every paycheque and either add or deduct to make the savings within $500, therefore sometimes I have some play money, at other times I just wait until the next paycheque to make that our of the ordinary purchase.


That's all I can think of right now.

[Rat Fink]

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[heavyfuel]

Originally posted by Rat Fink


I trade in reasonably high risk stocks and have more than "doubled it up" in a shorter time frame than you are talking about but it's not even worth getting into it with you because you will never put the time in to learn for yourself. I had what you would consider pocket change in Dec (probably a couple months worth of your truck payments) and this past week I just put half my share of a downpayment on a house and have 10K left over for home upgrages, savings, and continued investing. Part of that is thrift living while banking paycheques and the other part of it is my investing. I had one company I bought into around 75 cents/share average and sold it all between $2 and $2.40/share as well as dozens of other trades scalping small percentages each trade that have added up over a few months. I was also able to pay off my student loans from a 3 year full-time program at SAIT with a $2800 dollar initial investment from trading so fuck you.

So, does that mean, say 1000 shares at 75 cents will cost $750, and then when you dump em at $2.40/ share you get $2400? And how hard does the CRA rape you on such activity?

See, stocks interest me and make a lot more sense to me than striving to get a mortgage, only to be 6 digits in debt for God knows how long, and hope for appreciation/good renters. Anybody wanna walk me through how to double up $2500 right quick, I'd be willing to make an honest effort to understand that. I can double it up overnight if I want, problem is I left that life over a decade ago. The whole concept of making a dollar out of a quarter, is really nothing new to me. I've just never applied that legally because the yields just don't seem like they're worth it. Apparently they are. I just wish I could understand.

So fuck YOU.

And I don't give a fuck about your tools, apparently mechanics can't write them off anyways

[ercchry]

im 4 for 5 on doubling up my initial "investment" at the roulette table :rofl:

play the 3rds on the outside... start at table min... lets say $5... then bet:

5, 5, 10, 15, 30, 45, 90...etc. once you hit, start over :poosie: :bigpimp:

[Rat Fink]

.

[sunbot]

hey op i'm in a similar situation...and its much harder to make a buck than it is to save a buck. I started tracking my expenses to see where i can save a buck or two and i've found a few that i can share. what others have mention are things i do as well, but some not mentioned yet...

Reduce your energy consumption. switch to cfl's in high traffic areas, use a programmable thermostat, replace old appliances with efficient ones. use cold water for laundry. don't use the dishwasher do it yourself. use a laptop instead of a desktop.

switch your work hours, i switch from a 8-5 shift to 630-330. so i'm out the door at 545 and drive to crowfoot lrt. no traffic all the way there and plenty of free parking. so how did this save money? well, less time spent in traffic saves on gas and no more paying for a spot at the lrt station, which is huge.

buy things like toothpaste, toilet paper, shampoo etc when they go on sale only. and stock up if its a really good deal.

Take advantage of your work place benefits, see what it covers like massage therapy, chiropractor, fitness expense etc. my place allows 750 per year on fitness/sports equipment. i buy it, photocopy receipt to claim the money and return the item a few days later and pocket the money.

thats all i can think of right now...

[8baller8]

Originally posted by Rat Fink


I trade in reasonably high risk stocks and have more than "doubled it up" in a shorter time frame than you are talking about but it's not even worth getting into it with you because you will never put the time in to learn for yourself. I had what you would consider pocket change in Dec (probably a couple months worth of your truck payments) and this past week I just put half my share of a downpayment on a house and have 10K left over for home upgrages, savings, and continued investing (not bad for just over 3 months hey!!??). Part of that is thrift living while banking paycheques and the other part of it is my investing. I had one company I bought into around 75 cents/share average and sold it all between $2 and $2.40/share as well as dozens of other trades scalping small percentages each trade that have added up over a few months. I was also able to pay off my student loans from a 3 year full-time program at SAIT with a $2800 dollar initial investment from trading so fuck you.

Oh, I almost forgot I dropped 8K in tools when I switched careers and started my apprenticeship that was also funded by that 2800 bucks.

everyone says they are the worlds greatest stock picker.

The reality of the situation is that with your mindset, you WILL lose long term, just like you'll lose long term gambling. the stock market eats retail investors alive that try to beat it.

you've gotten lucky. the market hasn't been too bad and there's been some value with volatile sectors and companies. i expect you to discount what I just said, so i'll just say one thing: try finding value when the market drys up.

also, bragging on the internet is lame as hell.

[Vmack]

Originally posted by sunbot
Take advantage of your work place benefits, see what it covers like massage therapy, chiropractor, fitness expense etc. my place allows 750 per year on fitness/sports equipment. i buy it, photocopy receipt to claim the money and return the item a few days later and pocket the money.


thats shady yo

[Rat Fink]

.

[heavyfuel]

Originally posted by Rat Fink


Not bragging, just saying it is possible when fuckwad was saying it's impossible to turn a 4 digit investment into a 5 or 6 digit investment. Anyone who invests on this forum knows its possible. I'm also definately not the greatest stock picker, never claimed I was. I also have no problem sitting out of the market for months or years until I see fit to get back in. I guess I am lucky, ever since 2001 when I started trading.....

Fuckwad, reporting for duty SIR

I call bullshit yet again.

I bet you're simply out turning wrenches for a paycheque and your wife carries the brunt of the operation, and she decides how much you can invest and when, like 90% of men out there who claim baller status.

[botox]

Maybe you are living beyond your means.
- High mortgage/rent? or car payments?
- Too many cars?
- Overpriced clothing?
- Do you smoke?
- Drink expensive coffee?
- What type of Internet/TV/Phone package do you have?
- Cell phone package?
- Any monthly subscriptions for anything useless?

You only list food items, but there are tons of stuff you can do to save money. For me, if I have to start eating boiled vegetables to save money, that should be a sign that there are other bigger issues that need to be resolved. Or just make more money :D

[Rat Fink]

.

[heavyfuel]

Originally posted by Rat Fink


LOL gold :rofl: Keep trashing your landlords house and being a non-contributing member of society. Don't you have some coal to roll and girls to un-impress??

http://i478.photobucket.com/albums/rr150/2500calgary/umad_zpsb97b9322.jpg (http://s478.photobucket.com/user/2500calgary/media/umad_zpsb97b9322.jpg.html)

1. Despite my bitterness, I have to live here so not only do I treat this place as my own, but you could eat off the floor and I regularly do lol

2. Rolling coal is played out big time. And the only girl I care to impress, well, don't even need a truck for that!

3. Not sure what society has to do with anything here, this is the internet lol I pay my taxes just like most of us so go chew on a railroad spike or something lol

[Masked Bandit]

Living within your means is the best first step, eliminate all non-appreciating asset debt (credit cards & shit) and at the same time, increase income.

You're only on this stupid rock once, and it goes quicker than you think. The goal is to LIVE, not merely survive.

[8baller8]

Originally posted by Rat Fink


Not bragging, just saying it is possible when fuckwad was saying it's impossible to turn a 4 digit investment into a 5 or 6 digit investment. Anyone who invests on this forum knows its possible. I'm also definately not the greatest stock picker, never claimed I was. I also have no problem sitting out of the market for months or years until I see fit to get back in. I guess I am lucky, ever since 2001 when I started trading.....

Of course it's not impossible, just highly unlikely. you made it look like you amassed some huge fortune in 3 months, "doubling down" as you called it. next, you're saying you started "trading" since 2001.

Whatever. At the end of the day, it doesn't really matter. Just don't spread misinformation. If you post your gains since 2001, and you went from 5 figures to 6 figures i'll be thoroughly impressed. Hell, if you achieved a 10% ROI since 2001 investing in equities, I'll also be impressed. I seriously doubt it though.

[ercchry]

Rat Fink is in first place in our TSE beyond pool fyi... ~14% in 4 months

[DeleriousZ]

the whatnow pool? lol

[heavyfuel]

Originally posted by ercchry
Rat Fink is in first place in our TSE beyond pool fyi... ~14% in 4 months

That could also mean only $140 profit off of $1000 in 4 months lol post numbers or quit bragging, afaik real ballers don't brag on (supposed) car forums lol

[jjmac]

Originally posted by Masked Bandit
Living within your means is the best first step, eliminate all non-appreciating asset debt (credit cards & shit) and at the same time, increase income.

You're only on this stupid rock once, and it goes quicker than you think. The goal is to LIVE, not merely survive.

:werd: :werd: :werd:

[ercchry]

it was $100k starting...

http://forums.beyond.ca/st/364728/2013-stock-contest-starts-jan-15th-2013/

[Sugarphreak]

...

[heavyfuel]

Alrighty then. And where'd the 100k come from? Bank of mom and dad? Wife? Wife's parents? I still call bullshit lol

[8baller8]

Originally posted by ercchry
Rat Fink is in first place in our TSE beyond pool fyi... ~14% in 4 months

14% ROI in a stock simulation game and he supposedly doubled down with his personal portfolio.

heh

[ercchry]

Originally posted by heavyfuel
Alrighty then. And where'd the 100k come from? Bank of mom and dad? Wife? Wife's parents? I still call bullshit lol

read the bloody link! even YOU could have joined...

[8baller8]

Originally posted by Sugarphreak


Beyonds second best stock picker here ;)

I disagree with your conclusion that you will lose long term. Most people win long term and lose short term.

I have two modes... first is busy mode where I don't have spare time to fuck around, so I dump cash into trust companies which pay out a nice dividend every month and tend to be stable. It is good for 6-8% returns a year in dividends plus any increase in the stock over that period.

Second is money making mode, which is when I have time to watch and track stocks like a hawk, I can usually turn around 4% every three to five weeks on average, and pretty safely. Doesn’t sound like much until you take into account it is being compounded for each turnaround and I am playing with anywhere from 30K to 50K. I try not to play with any more than that in the stock market, I usually move surplus cash out into other investments like GIC’s or savings accounts.

Sure beats trying to save money by cutting back on coffees and packing lunches!

I agree with what you said. I'm certainly the same way. Time dictates my returns in the market. Also, what you posted is certainly achievable. I just had my suspicions about supposedly doubling down after 3 months of stock trading this past year.

[Sugarphreak]

...

[Rat Fink]

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[Super_Geo]

Most people lose in the stock markets long term. Wasn't the average return on last year's Beyond stock picking contest -5 or -10%? Yes there will always be people who win in the short term, but in the long run the majority of retail investors will be down.

Invest in what you know. If you're in real estate, invest in that. If you work in the trades, try going independent. That will make you a lot more money in the long run then punting around stocks you are vaguely familiar with.

[8baller8]

Originally posted by Sugarphreak


It is possible, but for returns like that you need to take significant risk. Everything boils down to risk VS reward in the end, if you don't mind to lose your investment trying, you can double it up pretty easily.

Of course. anyhow, this thread has been officially derailed.

Anyone have any advice for what I will post below: I thought of this the other day when I was thinking about the methods many firms use in tax shelters (offshore accounts, captives, etc.)

1) Register a corporation. Buy a few rental properties under the corporation
2) Establish a holding company that owns shares of corporation. pay out a dividend to holding company. under tax rules, the dividends paid out would be tax-free and the corporation still has small business status tax advantages.

From there....
a) reinvest earnings that are pre-tax with holding company
b) still have the epicness of small business tax deductions

Am I missing something here? This seems like a pretty good idea, but something tells me I'm missing something key.

[heavyfuel]

Originally posted by Rat Fink


Why don't we make a friendly wager?.....you, me, and heavyfuel put $10 each into a pot and you guys can try and beat me at it. I'll actually start paying attention to that simulator and I will completely fucking destroy the both of you at it. I'll make 20 bucks off of you two fucks which will further offset my cost of living :rofl:

Lol as far as I'm concerned that's like challenging a fish to a tree climbing contest. How about I just give u $10? Then ur wife can tell u where you're allowed to spend it lol

[Super_Geo]

Originally posted by Rat Fink

HNU

I guarantee you will be down in the long run if you are actively trading 2x leveraged prompt contract nat gas ETFs.

[BigMass]

Market went from 7000 to 14000 in 4 years due to fed stimulus and artificially low interest rates. Jobs are in the shitter but trillions of liquidity into banks, brokerages and hedge funds drive the market up. Everyone in the market rode that wave. Even a monkey could have. So golf clap to people making money in the market. Its not exactly a measure of skill. Always laugh at people bragging about making money in the biggest bull market ever. Its like bragging about making money in tech stocks in 1999. We’ll see how people make out when both the market and the currency collapse and there’s no safe place left to hide. The entire topic is completely unrelated to the OPs original question of combatting the high cost of living.

[8baller8]

Originally posted by Rat Fink


You can slag me all you want....just because you couldn't get those gains doesn't eliminate anyone else from doing so. I purchased ZEN.V on Dec 7th and Dec 10th for a combined average at around $0.75/share, selling all of them above $2/share. Do the math on that one. I also have been trading the shit out of it on the back and forth movements this past while (now holding a chunk for the next increase), along with BB and HNU which has compounded more on top of that too.

I'm sorry I don't keep up with that simulation every day. I actually haven't done any trades since the first day it opened.

Why don't we make a friendly wager?.....you, me, and heavyfuel put $10 each into a pot and you guys can try and beat me at it. I'll actually start paying attention to that simulator and I will completely fucking destroy the both of you at it. I'll make 20 bucks off of you two fucks which will further offset my cost of living :rofl:

Lol, congratulations about your ONE trade. How much money did you put down on that trade? :whocares:

He that boasts of his own knowledge proclaims his ignorance.

[8baller8]

Originally posted by BigMass
Market went from 7000 to 14000 in 4 years due to fed stimulus and artificially low interest rates. Jobs are in the shitter but trillions of liquidity into banks, brokerages and hedge funds drive the market up. Everyone in the market rode that wave. Even a monkey could have. So golf clap to people making money in the market. Its not exactly a measure of skill. Always laugh at people bragging about making money in the biggest bull market ever. Its like bragging about making money in tech stocks in 1999. We’ll see how people make out when both the market and the currency collapse and there’s no safe place left to hide. The entire topic is completely unrelated to the OPs original question of combatting the high cost of living.

Exactly. This guy hasn't even seen a bad market yet. Ignorance is bliss in his case.

I started investing small time in the market in about 2006 and I saw the effects a recession can do. I lost decent sized amounts in o&g risky plays the ended up on the venture. So, I can see the damage a bad market can do. FUCK YOU OILEXCO

Funny enough, I'm not even asking for stock advice. I'm looking for ways save on the high cost of living here. I'm sure there are guys here who work in real estate, insurance, etc. who may have some nuggets of wisdom to send my way.

[max_boost]

Originally posted by 8baller8


Of course. anyhow, this thread has been officially derailed.

Anyone have any advice for what I will post below: I thought of this the other day when I was thinking about the methods many firms use in tax shelters (offshore accounts, captives, etc.)

1) Register a corporation. Buy a few rental properties under the corporation
2) Establish a holding company that owns shares of corporation. pay out a dividend to holding company. under tax rules, the dividends paid out would be tax-free and the corporation still has small business status tax advantages.

From there....
a) reinvest earnings that are pre-tax with holding company
b) still have the epicness of small business tax deductions

Am I missing something here? This seems like a pretty good idea, but something tells me I'm missing something key.

Yea lol like talking to an accountant!

[ercchry]

Originally posted by 8baller8


Exactly. This guy hasn't even seen a bad market yet. Ignorance is bliss in his case.

I started investing small time in the market in about 2006 and I saw the effects a recession can do. I lost decent sized amounts in o&g risky plays the ended up on the venture. So, I can see the damage a bad market can do. FUCK YOU OILEXCO

Funny enough, I'm not even asking for stock advice. I'm looking for ways save on the high cost of living here. I'm sure there are guys here who work in real estate, insurance, etc. who may have some nuggets of wisdom to send my way.

has been trading 5 years longer... has not seen a bad market... :confused:

[8baller8]

Originally posted by ercchry


has been trading 5 years longer... has not seen a bad market... :confused:

Yeah, yeah....

At any rate, it doesn't really matter. Lets share in our wisdom, Fink, not flame each other. :bigpimp:

[sputnik]

I should really stop reading threads that heavyfuel comments in.

[DeleriousZ]

Originally posted by sputnik
I should really stop reading threads that heavyfuel comments in.

why? it's super entertaining lol.

[Sugarphreak]

...

[eblend]

Originally posted by Vmack

thats shady yo

It's also illigal, called insurance fraud...I wouldn't be advertising this so openly on a public forum

[faiz999]

id look at things i dont need and sell them. id shop for things that cost less, in all areas, but dont necessarily sacrifice utility (ex. buying shit clothes that fall apart quickly isnt how you save money).

id also try to increase my income, and thats doesnt necessarily mean asking for a raise. it cud be from selling various items at stamps game (like red/white shoelaces) to cutting your neighbours lawns. it sounds like it isnt much, but it can pay for an expense per month (like food). Even selling things outside the stampede, like affordable water bottles/drinks, can pull in some nice cash. however, im not sure if there would be legal issues, to operate something like that w.o a business license, so perhaps it may not be a practical solution, but its those kinds of ideas that help supplement an income.

creating a daily/monthly budget may help as well. the key is knowing how much you want to spend, how much you do spend and then making sure that you fall within your goals consistently. a budget is useless if you dont abide by it strictly.

im sure if you figured out how much you spend per/day on something like food, you'd be astonished at how much that adds up to, per month. if you can cut those costs significantly, you can help achieve your financial goals a bit quicker. sacrifice now, to enjoy later, but thats much harder said than done.

[Xtrema]

Originally posted by eblend


It's also illigal, called insurance fraud...I wouldn't be advertising this so openly on a public forum

Exactly what I think of when I heard that.


Back on topic:

Spending less is definitely more in your control than making more $.

So do up a budget and see what you can live without or less of.


Originally posted by sputnik
I should really stop reading threads that heavyfuel comments in.

It is kinda frustrating that he blames the world for lack of knowledge on his own.

[8baller8]

Dividends to a holding company are tax free, are they not?

Originally posted by Sugarphreak


^^ Dividends are not tax free

For example: If you own a small business, and you earn 100K through that business.... your company pays the corperate rate on that amount (which is currently 14% tax). If you then pay yourself dividends out of that money, you still pay some tax on it... but less than if you were just taking it as salary. Overally there is a tax advantage over just taking salary or if you were earning it directly.

You are way better off building up 500K in assets, then disolving the company and taking advantage of the one-time lifetime exemption for capital gains.

https://secure.globeadvisor.com/education/tax/article.html?/servlet/GIGoldFile/education/tax/text/school_10?back_url=yes&top=taxes-personal&left=personal-taxation&right=personal&foot=personal

[sillysod]

If you are eating rice and eggs to keep costs down you have no business even considering investing in stocks.

The only thing you should be investing in is either more school or some work boots and a bus ticket to Nisku. You aren't going to fix this problem by saving a few hundred dollars a month on chicken-shit expenses you will just be 10 years older in a shittier place doing the same thing.

[89s1]

I get a kick out of heavyfuels woe-is-me attitude.

That, coupled with his short temper make for good reading in most cases.

[brucebanner]

Originally posted by sillysod
If you are eating rice and eggs to keep costs down you have no business even considering investing in stocks.

The only thing you should be investing in is either more school or some work boots and a bus ticket to Nisku. You aren't going to fix this problem by saving a few hundred dollars a month on chicken-shit expenses you will just be 10 years older in a shittier place doing the same thing.

This.

I would love to get into stocks but I don't like losing money, that and I know nothing at all about trading.

[Cos]

.

[Sugarphreak]

...

[8baller8]

Originally posted by sillysod
If you are eating rice and eggs to keep costs down you have no business even considering investing in stocks.

The only thing you should be investing in is either more school or some work boots and a bus ticket to Nisku. You aren't going to fix this problem by saving a few hundred dollars a month on chicken-shit expenses you will just be 10 years older in a shittier place doing the same thing.

you make no sense.

[Maxx Mazda]

All the nickel and dime shit does not work in the long run. Either make more or cut your costs DRASTICALLY.

[prettylude]

Originally posted by 8baller8


you make no sense.

It makes perfect sense to me. He's saying if you keep this chicken shit up you're gonna be in the same spot in 10 years from now. Coffee's a fairly expensive commodity when you're on a budget, try to squeeze it in (;

I would also have to agree with less hookers and blow, that shit gets expensive.

:burnout:

[sillysod]

Originally posted by prettylude


It makes perfect sense to me. He's saying if you keep this chicken shit up you're gonna be in the same spot in 10 years from now.

:burnout:

Just give up lol. I knew people that talked like he did back when I went to High School.

Today they are pretty much all losers that are in the exact same situation... except they don't just scrape by they also grow bitter at people that worked hard and succeeded. (sounds like another member in this thread ;) )

We don't live in China or India where you have to be a genius to get into school because 1,000,000 other kids are fighting for your university spot or good job. I see countless people that are borderline retarded (but with work ethic) pulling in well over 60/70k a year -- which is still peanuts, but it's enough that you don't have to eat eggs and rice.

:D

[ercchry]

i like eggs and rice :(

eggs on my benny and rice in my sushi! :drool:

[8baller8]

Originally posted by prettylude


It makes perfect sense to me. He's saying if you keep this chicken shit up you're gonna be in the same spot in 10 years from now. Coffee's a fairly expensive commodity when you're on a budget, try to squeeze it in (;

I would also have to agree with less hookers and blow, that shit gets expensive.

:burnout:

The dimwit doesn't even know who I am. How can he give me advice? what a fool.

[Unknown303]

Originally posted by 8baller8


The dimwit doesn't even know who I am. How can he give me advice? what a fool.

Then why ask for advice online?

[89s1]

Originally posted by 8baller8


The dimwit doesn't even know who I am. How can he give me advice? what a fool.

Need we remind you that YOU made this thread asking for advice?

To hell with finances, stupidity like that will make life a struggle. :nut:

[themack89]

RatFink... Just curious, what is your risk adjusted return on your "crazy" gains? And total return on portfolio? 3-month, 6-month, and 12-month daily and weekly if possible (yes, its easy to fuck with a Sharpe ratio if you are strategic about which time intervals you are using).

Saying you doubled-up without context is for impressing the kids during recess. Any sane respectable trader is not taking naked positions on penny stocks--at least not with their serious money. If this is your strategy, its glorified gambling. I would recant my statement if you are purposely selecting a plethora of stocks which have zero correlation with each other.

Typically its an 80-20 split, where the 80 is stable consistent returns and the 20 is the aggressive portion.

And for those of you watching, its not the stock picking that is the hard part, its the management and exit.

@OP... Seriously, find a way to increase your income. You have problems if you need to skimp on diet. The only excuse for this is student-hood.

[sunbot]

Originally posted by eblend


It's also illigal, called insurance fraud...I wouldn't be advertising this so openly on a public forum

lol ok there...a little shady perhaps, but fraud lol.

there's no caveat that states you must retain any item(s) bought for x amount of time. it simply states that a max of 750 can be claimed for the purchase of said items as it relates to fitness/sports equipment. what are they really going to do...check up daily/monthly/yearly that you still have all items you've bought? lol thats not only funny, its retarted.

[Rat Fink]

.

[themack89]

Originally posted by Rat Fink


I focus primarily on junior mining companies in the earlier stages of exporation and development. Lately graphite mining has been a hot sector so I've been focusing more on graphite but switch to other sectors as the attention moves. I use everything from technical analysis in my decision making to actually calling and speaking with companies to learn more about them. I read every news release on the Venture exchange every day, adding potential companies on my watchlists and filtering them down as I do my research. Some of the companies I have been trading are ones I have been following for many years. I gravitate to companies that are in the midst of promotional cycles as they often have more volume to get in/out as needed and companies that actually have something worthwhile in the ground make the heaviest gains during this time. I don't trade with large amounts of money. Some of you guys would laugh at the amount I trade with but I am a firm believer of trading at my sleeping point so I can make my decisions without getting emotional about it.

As for gains, I don't know what my "risk adjusted" return is but I turned 2800 bucks into almost ~45K and took that money out to pay off my student loans, buy tools during my career change and supplement my income while I made $12/hr in the early stages of my apprenticeship which is a far better return than I could've made doing anything else. Rule number one is to never trade with money you can't afford to lose so I took the past few years off from it as I wasn't around a computer during the day and was focusing on advancing my education and blasting through my apprenticeship. I traded ETFs around and some Ford shares but was basically out of the market. Now I have a laptop at my work area with internet connection so I got back into "paper trading" around a year ago to get a feel for the markets and technical analysis and got back into the market with cash around December. Since Dec, I've turned 5K into almost 14K but I took almost all of that out again to buy a house this past month and put some money into savings. I keep it as a hobby that has been making me money....In no way do I trade with everything I have (that would be stupid). I'm happy about the gains I have made - it is more than any bank could've done for me. I like the system I have developed for myself and will pretty much continue with it as I refine it and tweak it. I look forward to being able to build up my account and actually leave it in there to continue to grow which should finally be happening this year.

I don't even know what a Sharpe ratio is so I couldn't tell you....I never went to school with it so you can use all the terminology you want. I know its something you have only learned in the past couple years anyways so I realize it is your way of pumping your chest. I remember when you wanted to be a truck driver a couple years ago and now you're telling me how I should be trading?.....

I scanned your story, that's all and well if it works for you, I just hope you aren't recommending others to do the same.

"Pumping my chest".... lol. Those "complicated terms" are legitimate and simple ways of measuring performance. But its perfectly reasonable if you haven't heard of them, most amateur traders haven't. You are right though, I've only learned about it in the past couple of years, if 7 years ago is a couple.

Risk adjusted returns is a measuring stick to see if you are returning as much as you should given how much risk you are assuming (which is a lot, if you're trading penny stocks). If you are returning proportionately more than the risk you are assuming, you are doing well relatively speaking. If not, then you are relatively lucky. The baseline is typically the performance of the S&P or TSX minus the risk-free rate divided by the standard deviation of the S&P, pick the appropriate time horizon.

Yes, I got my Class 1 and have worked as a truck driver and as a rig hand. Yes, I also have a degree and work in the front office for a pipeline company. Yes, I can tell you how to trade if I want to because I am right--$200k of backseat family management agrees. I am also barely legal age (well, if 22 counts).

What you have on me is age and life experience, thats about it. I had to pull all of my personal money out of trading so I could take 6 and 7 courses a semester without working. If you want to pull the truck driving card on me, give me a shout when I am the same age as you are and we'll see how things turned out.

I cannot wait to get back into the game. But RatFink: I was just asking you about some metrics of your performance, and it was contingent upon whether it was your play money or your real portfolio. It was your play money, fine. But don't judge someone based on who you think they are. I was judging you based on the facts of what you are saying, not your background or who I believe you to be, lol.

[max_boost]

:drama:

[8baller8]

It's pretty obvious he's basically gambling, not stock investing. his strategy does seem sound though. He basically puts high-potential stocks on his watch-list, reads about them everyday, follows the industry, etc so he can time the market. That's a good chunk of any successful investing strategy.

FYI - The stuff you learn(ed) in finance textbooks doesn't really apply in the real world bud. So...he kind of is right in the fact that all you are doing is fist bumping finance terminology.


Originally posted by themack89


I scanned your story, that's all and well if it works for you, I just hope you aren't recommending others to do the same.

"Pumping my chest".... lol. Those "complicated terms" are legitimate and simple ways of measuring performance. But its perfectly reasonable if you haven't heard of them, most amateur traders haven't. You are right though, I've only learned about it in the past couple of years, if 7 years ago is a couple.

Risk adjusted returns is a measuring stick to see if you are returning as much as you should given how much risk you are assuming (which is a lot, if you're trading penny stocks). If you are returning proportionately more than the risk you are assuming, you are doing well relatively speaking. If not, then you are relatively lucky. The baseline is typically the performance of the S&P or TSX minus the risk-free rate divided by the standard deviation of the S&P, pick the appropriate time horizon.

Yes, I got my Class 1 and have worked as a truck driver and as a rig hand. Yes, I also have a degree and work in the front office for a pipeline company. Yes, I can tell you how to trade if I want to because I am right--$200k of backseat family management agrees. I am also barely legal age (well, if 22 counts).

What you have on me is age and life experience, thats about it. I had to pull all of my personal money out of trading so I could take 6 and 7 courses a semester without working. If you want to pull the truck driving card on me, give me a shout when I am the same age as you are and we'll see how things turned out.

I cannot wait to get back into the game. But RatFink: I was just asking you about some metrics of your performance, and it was contingent upon whether it was your play money or your real portfolio. It was your play money, fine. But don't judge someone based on who you think they are. I was judging you based on the facts of what you are saying, not your background or who I believe you to be, lol.

[themack89]

Originally posted by 8baller8
It's pretty obvious he's basically gambling, not stock investing.

Thank you.


Originally posted by 8baller8
FYI - The stuff you learn(ed) in finance textbooks doesn't really apply in the real world bud. So...he kind of is right in the fact that all you are doing is fist bumping finance terminology.

And FYI I've never opened a Finance Textbook or taken finance classes. I only implied that I did. Most of what I learned is from industry, industry people, or trading myself. So at what point does the learning of SIMPLE RELEVANT CONCEPTS no longer entail "fist bumping", bud? :rofl:

*edit.. Sorry I lied, I have opened a finance textbook, but it was only for options formulas when I was building a model in excel.

[8baller8]

^^

You said:
Risk adjusted returns is a measuring stick to see if you are returning as much as you should given how much risk you are assuming (which is a lot, if you're trading penny stocks). If you are returning proportionately more than the risk you are assuming, you are doing well relatively speaking. If not, then you are relatively lucky. The baseline is typically the performance of the S&P or TSX minus the risk-free rate divided by the standard deviation of the S&P, pick the appropriate time horizon.

so how does a retail investor measure the risk of the stock he buys then so he can perform the "sharpe ratio" calculation??? ha ha ha

[ercchry]

I think you both missed the moral of the story... multiple revenue stream, mean no need to live like an unemployed poor bastard

[8baller8]

Originally posted by ercchry
I think you both missed the moral of the story... multiple revenue stream, mean no need to live like an unemployed poor bastard

I started the thread because I wanted to save more money to contribute to my investments, not because I'm poor and all I eat is ichiban and tuna. you guys read into that for some reason.

[ercchry]

i wonder why :rofl:

[themack89]

I PM'd you 8baller, didn't mean to hijack your thread.

And yes, I did miss the moral of the story. Residual income is good. I was just focused on the fact that the exception doesn't make the rule, or some residual income is considerably more stable than others.

[ercchry]

Originally posted by themack89
I PM'd you 8baller, didn't mean to hijack your thread.

And yes, I did miss the moral of the story. Residual income is good. I was just focused on the fact that the exception doesn't make the rule, or some residual income is considerably more stable than others.

if it works for him, then cool. everyone has to find their own thing. if it worked for everyone the world would collapse since everyone would sit oat home and day trade :rofl:

[lasimmon]

So I need more spending money and came to this thread...

Should I just put it all on Black?

[Xtrema]

Originally posted by lasimmon
So I need more spending money and came to this thread...

Should I just put it all on Black?

Double 0, go big or go home. :rofl:

Trade what you know. Look at AMD, went from mid $2 to mid $3 in matter of weeks because both next gen consoles are using their procs. All the info you need is in the gaming section of Beyond. :rofl:

[thetransporter]

get rid of shaw services including TV and phone and forth for telus

use alternative internet like i do or just go buy a prepaid 3g smart phone

use rbc insurance

dont eat out
dont buy itunes stuff

dont buy gimics
dont water your lawn

[94boosted]

Originally posted by Sugarphreak


I dump cash into trust companies which pay out a nice dividend every month and tend to be stable. It is good for 6-8% returns a year in dividends plus any increase in the stock over that period.


More details please, I want 6-8% ROI with little work and low risk :D

[ExtraSlow]

RSI, PBH, SPB, WCP, NPI and others.

With stocks there is always the risk of losing your capital though, so it's not "low risk" in the classic sense. Some of those companies have lower risk businsesses than others.

[Sugarphreak]

...

[ExtraSlow]

Now that we're derailed, I'll ask about the aberdeen fund. So that's asian bonds then? or am I looking at the wrong thing?

[94boosted]

Originally posted by Sugarphreak


FAP FAP FAP

Aberdeen Pacific.... best dividend stock ever

Dividend stock meaning you're getting a dividend payment in additional shares? But are you still free to buy/sell as you please? Sorry I don't know much about dividend stocks.

[ExtraSlow]

Yeah, I can't speak to the Aberdeen thing, but with a "normal" dividend paying stock, here's how it works. I'll use BDI as it's a stock I own currently.

You invest $10,000 in BDI at a price of $23.50 per share, gets you 425 shares.
They pay $0.07 per month, so you're making $29.75 each month in cash back into your brokerage account. Regardless of the price fluctuations, assuming the dividend doesn't change, you'll make $357 every year you own them. You are free to buy and sell jsut like any stock.

Some stocks pay monthy, some pay quarterly, make sure you know which!

You're still hoping the share price goes up, but you are being paid a little just to hold the stock and wait. The long term performance of Dividend paying stocks is very good, better than the broader market, however, it's not risk free. Also, you aren't likely to see as much positive volativiltiy in a dividend stock, so don't count on doubling your money in six months or anything.

[Sugarphreak]

...

[ExtraSlow]

If that's ticker symbol FAX on either the NYSE, that's a Bond fund, not a share of a single company. Currently holding about 40% in australian corporate debt, and the rest spread around the asia-pacific region.

Probably better than buying north american bonds.
EDIT: Or symbol FAP (lol!) on the TSX, that's a similar fund, but apppears to be more government bonds. Not sure of the credit rating of places like Turkey or the phillipenes, but I'd immagine it's not very good if they are paying those rates.

Do you find it worrisome that you don't know what this investment is? I like to know a lot about the companies I invest in. I comb through annual reports, is that unusual?

[Sugarphreak]

...

[ExtraSlow]

That's an interesting view. I don't share it.