July 23, 2012, 5:00 am

Saving & Investing Book Giveaway

by: The Financial Blogger    Category: Personal Finance
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Recently, a bunch of Canadian high class bloggers got together in order to launch an awesome personal finance beginner’s guide for Canadians. Since most of these guys are my blogging friends, I’ve gladly accepted to read the book and host a giveaway J (more details on the giveaway at the end of the review).

 

Who’s Behind the Project

 

If you read more than one blog (assuming that I’m your favourite 😉 hahaha!), you probably know half of these bloggers:

 

Frugal Trade from Million Dollar Journey

Krystal Yee from Give Me Back My Five Bucks

Jim Yih from Retire Happy Blog

Ram Balakrishnan from Canadian Capitalist

Glenn Cooke from Life Insurance Canada

Edited by Dan Bortolotti Editor at Money Sense and blogger at Canadian Couch Potato

As you can see, we are not talking about neophyte bloggers with less than 100 articles on their blogs. We are talking about “pro” bloggers who each have more than five years under their belt as a bloggers. Million Dollar Journey was the first blog I ever read and Canadian Capitalist was the first blog to mention TFB and created my first visitor spike (at that time, a spike was more than 100 visits in a day, can you imagine 😉 ). So needless to say that I have nothing but tons of respect for these guys.

 

What’s the Book About

 

Saving & Investing for Canadians is very special in the way it has been built. Each blogger in this list could have written a book each and it would probably have been a success. Instead of going it alone, they have decided to team-up and write one chapter each. Why write only one chapter? Because each of them have been known by their blog and from their peers to be very knowledgeable in a specific area:

 

Frugal Trader has built a great dividend portfolio.

Krystal has been writing about budgeting for years on her blog.

Jim has been a financial planner for several years.

Ram has been known for his passive investing for years.

Glenn is an independent life insurance broker and president of his own firm.

 

This is why, buy purchasing this book, you get the best of all these famous Canadian bloggers.

 

Who’s This Book For

 

As I first mentioned, this is a beginner’s guide. The book is roughly 100 pages and covers:

Budgeting (how to make a budget, pay yourself first, the debt snowball method)

Types of Investment Account (RRSP,RESP, TFSA, Pension Plan, RRSP VS Mortgage, RRSP VS TFSA)

Index Investing (Investment plan, Risk Vs Return, Type of investments, Sample portfolio)

Dividend Investing (Tax advantage, Dividend ETF, Stock picking, Dividend Growth)

Insurance (type of losses, insurance needs calculation, types of insurance, how to choose the right one)

 

You can obviously write many books on each of these topics alone (I’m currently writing a 150+ pages book on dividend investing). This is why this book is the first step for someone who wants to manage their finances properly and start making money instead of buying the newest 3D plasma TV.

 

I think there is definitely a market for this book as many Canadians are quite lax with their money. We see our level of indebtedness growing through the roof a little bit more month after month and housing prices are rising like there is no tomorrow. We are only lucky to have natural resources that drive our economy. If it wasn’t the case,Canadawouldn’t be one of the “most solid countries financially” at the moment!

 

What I Like Most About This Book

 

I was obviously not surprised by the content of the book. If you have put your personal finances under control for a while, chances are you won’t be learning anything new here. However, if you are looking for a place to start your finances on the right foot, I think this book covers everything you need from Day 1.

 

What I like about this book is the volume of practical advice. You get a budget sheet template, a debt repayment plan example, an investment portfolio sample, a list of indexes, a clear and understandable way of how the insurance world works, etc. They are not trying to sell you anything, they are just educating you so you can make the best choices for your own situation. It’s definitely a buy for anyone one who:

 

–          Can’t pay the full balance on their credit card at the end of the month

–          Can’t tell the difference between a defined pension plan and a defined contribution plan

–          Pays high management fees to have their investments managed

–          Has an interest in managing their own investments

–          Can’t explain why and how they are covered by their insurance

 

Now the Giveaway!

 

Excited about this book? You want a chance to win a copy? Just leave a comment below and tell me what you have been struggling with in regards to your personal finance. You have until July 31st to do it 😀

 

Cheers,

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Comments

Hey TFB,

There’s no hiding what I’ve been struggling with, definitely my portfolio. Investing is the most difficult part of financial planning for me. So many variables, competing interests and advice out there makes it a maze.

I’d also like to track my spending more, lately it’s felt like a few more leaks in my budget dam.

Investing!

I have the budgeting basics down and know where my money goes – I need help making my little nut grow!

My biggest issue has been learning how to manage my own investments. Investing in the stock market just seems so foreign to me and something I have to sit down with for several days to figure out.

This isn’t an entry because I wouldn’t benefit as much since I am not Canadian but that it awesome that a book was put together for that purpose. I bet they are sick of reading the US blogs talk about 401ks and IRAs.

My biggest struggle has been to earn extra income.

Wonderful initiative! I sure know most of the bloggers you mention in your article and find it awesome that they decided to team up to build an ebook that will help around. These people are truly knowledgeable and I like their writing style too. I have only scarcely commented on their sites since my own blog is in French. However I do visit them regularly, like I do on your blog too 🙂

My own issue is also related to investing (a thorny subject) but I am mostly curious about what this ebook will look like, it being a mix of several bloggers putting their knowledge together. Surely, a piece of Art 🙂

Just a quick heads-up though… Most of the links you have set-up in your article do not function properly. You should check it out. Cheers.

I’m struggling with the fact that I’ve been on disability for over a year now, with some significant medical bills (for a Canadian) and no easy way to increase my income… so I’ve been thrown off-track for my retirement savings.

[…] 1. Saving & Investing Book Giveaway @ TFB. […]

[…] The Financial Blogger […]

Struggling with where and how to invest and manage/understand statements for my current investments

… would be so great if I could manage to invest(buy and sell) on my own, instead of paying someone else to do it for me …. I could go on vacation, buy a new car, renovate(or re-invest) …if I did not have to pay for someone else to manage my investments

by: M.Pereira | July 27th, 2012 (6:11 pm)

Building a reliable portfolio

Just leave a comment below and tell me what you have been struggling with in regards to your personal finance.

Dealing with friends who have expensive hobbies and want me to participate too!

by: dave marshall | July 30th, 2012 (5:51 am)

Well it has finally happened. My elder daughter is off to college this fall and we now have to help her finance her way through 3 years of college. RESP’s – easycome, easy go!

Struggling with getting started on the stock market and obtaining the right advice.