Comments on: It Is Time To Clean Up After The Holiday Season

By: MoneyHacks Carnival–Frugalista Style! « LittleMissKnowitAll

MoneyHacks Carnival–Frugalista Style! « LittleMissKnowitAll — Thu, 29 Jan 2009 00:28:15 +0000

[...] Financial Blogger presents It Is Time To Clean Up After The Holiday Season posted at The [...]

By: The Financial Blogger

The Financial Blogger — Wed, 28 Jan 2009 11:02:15 +0000

Hey One Day,

If you borrow to invest, I don’t think you should take a part into bonds. At best, you will make 4-5% with this asset class and you will probably pay the same thing in interest charges.

If you want something closed to fixed income, I would suggest a dividend fund that will be less volatile than gold or oil

By: OneDay

OneDay — Mon, 26 Jan 2009 14:48:02 +0000

Thanks for the advice. I would start with a 10k margin account. I think I would go for ETFs (gold or oil, not decided yet). I’m not sure it’s the right place to ask: would you invest part of it in bonds? If yes, what would be the proportion?

By: The Financial Blogger

The Financial Blogger — Fri, 23 Jan 2009 22:06:47 +0000

OneDay,
I’d say it depends if you can accept the following scenario:
you borrow 25K and after a year, you will have that debt but your investment worth 15K

If you are comfortable with this though, then, you are good to go

Hey Sophie,
here are some websites:
http://office.microsoft.com/en-us/templates/CT101172321033.aspx

http://finance.yahoo.com/how-to-guide/banking-budgeting/12832

you can also read:
http://www.thefinancialblogger.com/no-need-for-a-budget-%E2%80%93-use-the-cost-of-living-approach/

By: Sophie

Sophie — Fri, 23 Jan 2009 18:21:31 +0000

I don’t think my boyfriend would appreciate your comment

I’ll try to pay off my credit cards. And I would like to set up a budget. Can you suggest me some websites with templates? Advices on setting up your own budget?

Thanks again!!

By: OneDay

OneDay — Fri, 23 Jan 2009 17:03:17 +0000

I feel like opening an margin account to invest. I think it’s time to buy. What do you think TFB?

By: The Financial Blogger

The Financial Blogger — Fri, 23 Jan 2009 11:09:37 +0000

Sophie,
I would give your documents to someone else. I would not trust your boyfriend
If you can’t repay your card right away, transfer it through a low interest rate credit card (0% if you can ) and setup a plan to pay it off faster.
if you realize that you won’t pay off your card within a year, you are better off with a personal loan!

IS, I review my clients asset allocation once a year. However, with the current market fluctuation, you are better off checking your asset allocation every quarter to make sure that you have still a great diversification!

By: IS

IS — Fri, 23 Jan 2009 00:29:22 +0000

Hey TFB, how often would you recommend reconsidering an asset allocation, yearly? More often?

By: Sophie

Sophie — Thu, 22 Jan 2009 22:01:42 +0000

haha My boyfriend is doing my tax paper (lucky me and lucky him!!!)

What should I do with my credit cards? You suggest to transfer my balance to 0% APR cards or re-finance with a loan. Some say that I should repay all?

By: The Financial Blogger

The Financial Blogger — Thu, 22 Jan 2009 15:28:07 +0000

Chris,

I’ll take a look for good APR in Canada

Goalhunter,
sorry for the contest, I’ll take a look but still count you in!

You should definitely get a tax expert if your personal finances are complicated. He obviously won’t be able to do much with year 2008 but will give your great tips for the upcoming year!

cheers,

FB.