August 15, 2007, 7:00 am

Financial Ramblings II

by: The Financial Blogger    Category: Financial Rambling
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Here is a bit of random financial stuffs for today. We recently had our second baby, a little girl named Amy. We are so happy and excited it is unbelievable! Having a second angel in my life made me think that I should change some of my habits to become more frugal. You already know that I am not too much into frugality. Nonetheless, I do have more financial responsibilities now.

Then again, my evil side in me does not want to stop spending! We are already talking about having somebody to clean-up our house when my wife will get back to work next year. Housecleaning services are not that expensive and will surely avoid arguments about who should have clean-up the bathroom this week! I rather write on my blog than cleaning my house. The solution: make my blog pays for the housecleaning… hum… sounds like a plan. So if ever you see adds on The Financial Blogger, it is because have extra expenses to cover for the good of my family 🙂

I am thinking about contributing into a RESP pretty soon. As it might be hard for the first years as we have several other expenses, I also thought I could ask my parents, parents-in-law and the godmother and godfather to contribute with us. I guess it is the best gift you could ever give to children is a good education. If we all get ourselves together, we should be able to build up a heavy plan for their future.

Brian Poncelet recently added to one of my Smith Manoeuvre post that we should consider disability risk while doing leveraging. I totally agree with him. In fact, we should think about disability insurance before looking at life insurance. Statistics show that you have much better chance than being disabled for a certain period in your life than dying before the age of 50. I will surely investigate more on this topic to come back later on with more information.

Markets recently dropped, interest rate across the world is going up (most recent raise was in Canada), sounds like the party is over. Some says that you can make more money out of a bear market than a bull market. I guess it can be right where stocks take seconds to drop and years to increase. However, I consider I do not know enough to short sell stocks yet. The reward is there, but the price to be part of the race can kill you if you are not finishing first place!

My “brother-in-law to be” impresses me. He is 21 and starting to build his first home this fall. In fact, it is nowhere close to a mobile home, he is building a 4 bedroom two storages house with a garage! This shows a lot of maturity for a young man. Rather than spending his money in clubs and driving a nice Mitsubishi Eclipse, he is working 70 hours a week and still driving his 1991 Honda Civic. It is great to see that when you make the proper effort into something, it pays off well!

Carnivals

I participated into two carnivals this week. My Open Wallet hosted the #113 Carnival of Personal Finance and featured my book review on “Why We Want You to Be Rich”.  Also, My Wealth Builder did a real great job hosting the with a medical theme. My article about the #49 Festival of StocksTop Ten Dividend Stocks in Canada has been posted.

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Comments

Congrats on the baby girl!