December 21, 2011, 6:50 am

I’m Giving You $500! It Pays to be Bad!

by: The Financial Blogger    Category: Miscellaneous
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Hey People!


Haven’t you notice that most people become generous all of a sudden at Xmas time?


Maybe it’s because we feel fortunate and we know that some people are not.


And maybe we are simply brainwashed by the media who show a bunch of little orphans with nothing to eat on Xmas eve!


Well, regardless of the case, I’m giving $500 CASH for Xmas!


All right, I lied.


Yeah, yeah, I’m giving the $500 and the blog is hosting the giveaway but the money is not coming from me. It’s coming from my buddies at Life Insurance Finder, the easiest place to compare life insurance. They contacted me to host a giveaway where all you need to do is confess your financial sin for 2011 and you could win $500 in cash to repent in 2012! No catch, just cash ;-D


If you have followed this blog during the year, you know that I am pretty good at making money but I’m also a big sinner when it comes to pay down my debts! I think it’s obvious that I’ve been pretty bad at managing my budget this year and I count solely on my ability to increase my income instead of sitting down with a piece of paper and starting some calculations!


Now it’s your turn to tell me where you have been bad in 2011… and you can get paid to do it!


Here are the contest rules:


(1 entry): Confess your financial sins for 2011! Leave them in the comments below


(1 entry): TWEET about our Financial Redemption giveaway!  Just copy & send the following:
“I just entered to win $500 with @lifeinsurancef and @FinancialBlogr! Enter here:


(5 entries): Subscribe to my TFB newsletter: You’ll get exclusive info on how I run my online business and make money online:


(5 entries): follow @lifeinsurancef on Twitter


(10 entries): BLOG about this Giveaway!  Post up YOUR Financial Confessions List of 2011 on your site  – either in text, or in pictures  and then make sure to mention you’re trying to win “the $500 Financial Blogger competition, sponsored by Life Insurance Finder – the easiest place to compare life insurance” somewhere with both links & text fully included, then include the URL in the comments below.




EDIT: Contest runs until January 14th!

NOTE: the winner must have a paypal account (which is free anyway!)


By the way, I’m not getting anything from it… beside looking cool by sending money to my readers ;-D

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Chasing after high yield stocks without investigating why they are high yield. Then the yield gets cut and the share price tanks. Lose – Lose.

I bought a new car when I don’t really have to.

I got greedy with materialistic items (phones, cameras, computers, etc.). On that note, when are you going to announce the winner of your iPad 2 giveaway!?! 🙂

I sold my cottage and bought a “Harley”. Invested the rest in mutual funds.

Kept almost all cash waiting for the market to bottom. This year we will be deploying naked puts to get paid for knowing our buying floor.

I spent way too much on a dining room table. But it’ll be with us for the rest of our lives so it’s not a mortal sin right? Right? Anyone?

I studied abroad in Europe this semester and ended up spending my entire life savings. Time to start over.

I studied abroad in Europe this semester and ended up spending my entire life savings. Time to start over.

I know I should change over my RRSP from mutual funds to ETF, but I haven’t yet….because I have just been lazy about it.

I just paid a fortune for ski lessons, so, that is my sin. 😉 Already subscribed to the newsletter and I will tweet and link to in the next roundup!

I didn’t put any savings into my TFSA this year, but my excuse was that I had my 2nd baby.

by: Anne Miller | December 21st, 2011 (12:09 pm)

I loaned $2500 to a relative who already owed me a substantial amount of money, on the proposition that this piece of equipment would help him make oodles and he would pay me back forthwith. Ha!

My worst financial sin in 2011 was moving into an apartment I couldn’t afford! I lost SO much money on that place…but I’ve moved, budgeted, and improved since then!

I subbed to the newsletter!

I tweeted too 🙂

I confess, I pretty much drained my emergency savings.

by: Jeff Delion | December 21st, 2011 (12:29 pm)

I paid for a vacation on my credit card and left the balance on my credit card!

Oh gosh, which sin to choose from? Was it overspending on groceries the past few months? Was it splurging on a playbook because it was such a good deal? Was it ignoring the budget while doing my christmas shopping?

Maybe all of the above lol

I already subscribe via email 🙂

by: The Financial Blogger | December 21st, 2011 (1:28 pm)


it’s up to you if you want to leave some entries on the table. I don’t teach you to be greedy young Padawan 😉 hahaha!


I’ve mentioned it a week ago; it’s Dick Bissett



by: José Pablo | December 21st, 2011 (1:29 pm)

I got some euros from an uncle, used it as a back-up reserve. Used some of it to buy a cell-phone.
Then I’ll be using the rest to start an investment account for my parents.
Where’s the sin in that?
I LIED saying it all is coming from my income, depleting the reserve, and happily buying “quick cash making software” on a new Credit Card. 🙁 2012 is going to be a debt-paying year. Should I pay it off?, sinceit’s a year from the end of the world? jaja, better not take my chances.
Happy Holidays!

I’m guilty of coveting my neighbours and going in debt to have a gucci house.

I went over budget for Christmas. By about double. 🙁

Followed on twitter @hotwls13

I Subscribe to your TFB newsletter

I dont have an emergency savings or any savings for that matter.

I haven’t even made a budget yet.

My biggest sin last year was spending $100s on Starbucks! I tweeted, and I subscribe to your newsletter!

Biggest financial sin – bought Yellow Pages stock – my wife & friends kept telling me sell, sell , sell but I had lot of hopes on this stock and now I am in deep loss…….

I hung on to yellow media too long. I did get out at around $4.40 so I guess it could have been worse.

Started late in life with my retirement savings (401K)….

I didn’t learn anything about dividends or how stocks work, so only earned regular savings interest on all my cash. What a waste!

I tweeted, followed and signed up! Thanks and happy Christmas.

Went over budget in my clothing category several months this year.

Subscribed to the TFB newsletter and following @lifeinsurancef on Twitter.

I end up over budget too regularly from month to month and it impacts savings 🙁

I am subscribed.

biggest financial sin: lending money to family and friends

Racked up the line of credit – fortunately the year end bonus cleared that slate, but the cash would have better served me by paying down the mortgage!

I opened an IRA in January, but neglected to contribute to it for months. When I checked up on it, Charles Schwab had closed the account!

by: Matt Tucker | December 21st, 2011 (6:18 pm)

I did not contribute to my RRSP this year. Oh the horror!!

Sin? This year I dubbed the year of suffering because I actually sucked it up and paid off 17 thousand dollars worth of debt. I guess the real “sin” was that I was too stupid to do it earlier.

I spent way too much money going out to celebrate on weekends :/

I’ve overspent this year on buying websites and not following through and developing them.

Did not fire my financial adviser soon enough

I buy way too many Groupon deals — for things I’d normally never purchase — just because its a “good deal.”

I subscribe to your newsletter (5 entries, please!), I follow @lifeinsurancef (another 5!), I Tweeted the giveaway (1 entry) and I left a sin-confessing comment above (1 entry), for a total of … 12 entries! Wahoo! 🙂

by: Daniel Johnson | December 21st, 2011 (9:03 pm)

Should’ve went with a prepaid cellular plan instead of going with Sprint.

Not investing enough in my 403b! Will be correcting that this year!

I bought stocks that didn’t follow my financial plan and got burnt doing so. Hopefully I learn from this mistake

by: Steeltoed Stiletto | December 21st, 2011 (10:31 pm)

Kept trying to time the market when converting funds from financial planner.
As a result lost out on growth, dividends. No more procrastination. Also
Have not yet rebalanced my daughters RESP.
Merry Christmas and a Prosperous New Year to all.

My biggest financial sin for 2011 was that I stopped keeping up with my budget for 2 months towards the middle of the year…it’s hard to notice lifestyle inflation when you aren’t keeping track of your spending…

I procrastinated throughout the year on important financial issues. Hopefully the new year will change that!