Net Worth Feb 2017 Update : $14,182.08 (-$2,674.45 -15.87%)

Net Worth Update for the month February 2017

Assets Jan-17 Feb-17 Monthly Change
Checking $1,124.48 $1,500.59 33.45%
Saving $8.35 $8.35 0.00%
TSFA Investment $590.00 $637.90 8.12%
RRSP Investment $0.00 $0.00 0.00%
House $215,000.00 $215,000.00 0.00%
Car $15,000.00 $12,547.00 -16.35%
Liability
Mortgage $202,819.97 $202,308.25 -0.25%
Car loan at 0% $11,671.36 $11,342.71 -2.82%
Credit Card $374.97 $1,860.80 396.25%
NET WORTH $16,856.53 $14,182.08 -15.87%

This is one of the worst month since I’ve started following my net worth. February is a small month but that should not explain the huge drop I had.

One thing your can notice is that my car value dropped a lot. I’ve started to track my car value with the Canadian black book so that’s why it dropped so much in my car value.

Income

This month was short and I’ve got 4 pay and I’ve also taken two sick days which were paid full last January.  These days were to take care of my baby so it was not really some fun day. This have lower my income to 2 819$. Which is 1000$ less than my average income.

Expense

This month was a big month for my expense since we had 600$ in municipal max and 219$ car plate to pay. Also, my internet and tv bill increased but I’ve called and renewed the retention rebate near the automatic payment so I should get a credit on my next bill. Next step, I will cut the tv. In total, I’ve spent 3 831$. This is my average spending.

Saving

This month I’ve saved some money to my investment account. I’ve saved a total of 40$ which is included in my total spending. I’ve saved 1.41% of my income which is way less than my goal of 5%, but it’s a start.

Next month, I’m looking to increase my saving to at least 3% and my net worth should go up since I will get back 1500$ from my 2016 tax and it’s a 5 weeks month so I will be paid 5 times.

Readers: How was your February month?

Weekend Reading – Lunch hour, Life Dividends, Patience

Another weekend that starts so here’s this weekend readings.

This week, my only post explain why I’m blogging.

Dividend Diplomats wrote about on how Making the Most of Your “Lunch Hour” Each and Every Day

It Pays Dividends wrote about a different kind of dividend the Life Dividends

My Compounding Money Strategy  is the the strategy use by More Dividends

Briget Casey wrote about Taking Charge of Your Investment Portfolio

My Own Advisor wrote an interesting post about Compare your household expenses here using stats from Statcan

A guest post on Distilled Dollar talk about How to Teach Yourself Patience as a New Investor

Have a nice weekend everybody.

This is why I’m blogging!

Some of the reason why I've started blogging and some of them will maybe make you start your own blog.Why I’m blogging? This is one of the questions I’ve asked myself a couple time in the last year of the blog and when I’ve restarted blogging in the end of February 2017.

At First, in 2016, I was looking to make a lot of money fast from working from home on the blog and I was looking at my stats every hour. I thought that would be easy and would bring a lot of money without working. That was a mistake and when I saw that, I stopped blogging in July 2016 and I was so demotivated. Now that I’m back blogging, there’s some reason why I’m starting again.

1. Learning to write

I’m more looking to write articles that I want to share with my readers and I want to learn to write better in the Shakespeare language. I’m a french Canadian so writing in English is kind of difficult since it’s a second language, but it’s an important one. I wish I had practiced it more when I was at school. I can write it but oh my-my I couldn’t do a podcast in English or speaking at an event. The writing part becomes easier the more I practice. Do I write a post in 15 minutes? No, I need a lot of writing session and editing session to make it better and make something that I can post online. Are they perfect? No, with the time I guess I will have to read the old one to edit them to make them better. But when I see my stat and get some comment, I’m so happy that someone read that it that motivate me to continue writing, learning and post more.

2. Blogging is sharing

I think everybody should start a blog and share their experience on a subject they like. Since I love personal finance and investing, I started this blog to share some of the things on my minds. I like to try to have my thought and my personal touch on my thing. I see that like a person who talks to a conference. You can see the same topic two times but the person who talks will make the difference. Everybody have something to share that will interest someone else. It can look stupid to you, but someone can love reading what you write with your perspective and hate how someone else wrote the same information or experience. Who knows, you could be the next top blogger!

3. Social

One more reason why I’m running this is that I can’t really talk about my finance with others in real life so I do it anonymously on this blog. People can become jealous or act weird after you talk about your goal, strategies or your finance numbers. I also love reading about other financial blogger and interact with them on their own blog or on twitter. I love learning from these interactions and how they make their choices, investments, goals, etc.

4. Accountable

It makes me accountable for my goal that I’ve posted and how my finance is doing. I want to show the world how I good I am and how good are my finance. I am not that good but it makes you accountable when you share it with others. When you see that you will not achieve your goal by the next update, you try everything you can to try to make it happen instead of letting the goal go and not even care about it. Also, if a goal is not achieved, it’s good to write on why you didn’t accomplish it and it make you realize the error you’ve made.

5. Organize my idea

To write in a blog, your idea needs to be organized in a way that your audience will understand what you wrote. Since your getting your idea out of your head, it helps you to organize them. Most of the time, in my head, I have too much idea to have them organize. Once it’s written, you can see how you can improve them or which one are really bad. I’ve written some idea in a draft and once it was out, I couldn’t even think it was a good one in my head. So I’ve deleted them.

6. I’m getting more confidence

Since I’m a pure introvert like a lot of the tech guy in this world, I find that blogging really helps to build some confidence to get out of this introvert zone. Every post you do is going out to a lot of potential readers and it’s something that I can’t do in real life. In real life, you would need to speak at some event to get the same audience and for this, you need to be extrovert and have some confidence in what you will talk about. Blogging brings the last part of that. It really brings confidence when you see other sharing your post and comment on it.

7. Challenging

Blogging is challenging. It’s easy to start a blog, but if you want to make it growth you need to challenge yourself to write more and write better stuff.  You always need to find new subject, new marketing idea, interact with the community, SEO, etc. You really need to learn a lot of the technical aspect of a website, if you want your blog to growth a lot else you can pay someone to optimize it and coach you. Also, I’ve set some goal for the blog and to accomplish them I need to learn new things and keep posting new content. They are challenging but it’s important to keep the motivation you had when you started your blog. Without challenging goal, I find that blogging start to be boring.

I hope you’ve enjoyed these reason why I’m blogging and maybe it will make you start your own blog and share your own content :-). The more content we have on the internet the more we can learn. why are you blogging?

Bloggers: why are you blogging?

You know that you could easily start a blog too? I’ve made a How to host your own blog post couple months ago and it can help you to start it in couple minutes with low fee. Once, your blog is running, you could also start earning money with your blog with this post.

 

 

Weekend Reading – Growing Traffic, Passive Income for FI, Tax Refund

Another weekend is starting, I hope you all had a nice valentine day without too much spending :P.

This week, I only posted one article since I was sick and I was not happy with my second one. So here’s some of my thought about budgeting!

Also, I’ve started back my investment in dividends. I’ve started with 1 share of ZRE since it’s a nice ETF with a monthly dividend.

Here are some of the best articles I’ve read this week:

Also, I want to do a  special congratulation to Matthew for his milestone of Six Figure Portfolio.

Readers: Do you have some awesome plans for this weekend?

Some of my thoughts about budgeting!

Some of my thoughts about budgetingAre you budgeting ? Your budget is your eye on your finance. Budgeting help you to see where’s your money is coming from and where’s it’s going out. This should be your first step to see how your  personal finance are doing and the first step if you are trying to get back on the right track from spending too much. If you want to save more money it will help you to know where’s you are spending too much.

Budget like you want to do it

I think everyone should make a budget, but you should budget the way you like to do. There’s not only one way to do a budget. Some are budgeting for a month or year or some like me are budgeting only the money I have in my possession and wait until I receive more money to budget it. Find what method is the best for you. You can use a software, spreadsheet, web base budgeting tools, pen and paper. You can try multiple method and technique to find the one that you will stick with it for a long time no matter what others are saying. Personally, I am using YNAB and I love it, but the software is only for budgeting money you have so if it’s not your budget style don’t use it.

Budget are flexible

A budget is modifiable. Unlike a lot of persons think, a budget should always be modified to represent what you are doing. You’ve got more money ? You’ve got an unexpected expense ? Don’t panic and modify your budget to make it represent what you need to do with your money. In that way, you will have a true budget that represent your real situation and you will continue to budget since you will not feel under pressure from seeing a budget that’s not your reality.

You should budget your debt repayment first and your saving so in that way your debt get paid without being late and you pay yourself first as describe in this old post. This will save you some interest and late fee and your saving will growth before you have spent that money for fun or something you don’t need.

Analyze your old budget

Every couple months you should look back at your old budget and see if you can cut somewhere to save more. The budget will help you to see if you are spending too much on dining out or on some activity. This is your choice where you save money. If you find the amount reasonable and you couldn’t live without doing the activity just keep it and look somewhere else to cut. This way you will keep having fun and keep using the budget without saying that it dictate your life too much.

Budgeting can be overwhelming

If you find budgeting is overwhelming, you can stop doing it for a little time and start back latter. I did that when my kid was born and I was feeling that I didn’t have time to budget my things, but I’ve found myself spending way too much on things that I didn’t need and stop I’ve stopped investing. Now, I came back to budgeting my money and I know that I will continue to do it since I saw what I did wrong when I didn’t budget like overspending.

Readers: are you budgeting ? If yes, what is your method to do it ? If not, why ?

Weekend Reading – Investment plan, Day Trading, Hustles, Automatic Investment

Weekend ReadingHere we go, an other week is finishing. So here’s the weekend reading for the second week of February.

Here’s the article that was published on this blog this week :

Here’s the weekend reading for this week from other bloggers :

Readers: What are your plans for this weekend ?

How to start earning money with a blog

Start Earning money with a blogIt’s easy to start earning money with a blog, but it require a lot of work. If you think you can’t write something that will interest some others, YOU ARE WRONG. Everybody have something to share, it can be an experience or knowledge on a specific subject. It can be about Finance, Trading, Parenting, a hobby, technology … Think about all the subject you can talk in a conversation with someone  and you can write about the same subject in a blog.

1. Start hosting a blog

The first step to start earning some money with a blog is to start one. To start a new blog, I recommend that you read my tutorial on how to host your own blog on shared hosting. It’s the easiest and the fastest way to start one without having any knowledge on server and computer. Also, if you ever need help you can always try to contact me and I will do my best to help you.

2. Write article and schedule them

To make money with a blog you need some readers and to get readers the first step after hosting your blog is to write multiple articles on a subject. I recommend that you write a couple articles and post them to make a base for your blog and schedule couple one on a regular base to keep getting new readers and old one back.

3. Adsense

An easy way to make money with a blog is to put some ads on it. You can use Adsense, media.net, AdThrive and all the others. There’s a lot of ads company out there for you to try. With ads network, they pay you for the click and the impression of the ads.  Adsense is one of the more common and you can easily put it on WordPress with the official plugin. It’s visual and you don’t need to code anything with that plugin.

Also make sure to have some content on your blog before applying to a ads network. You could be refused if you don’t have content since they can’t really show ads on a no content blog.

4. Affiliate

Affiliate is an other way to make some money. A company pays you for the sign-up or if they sell something throw a specific link you have to share with your user. These companies could be bluehost, Amazon, Ebate, GreatCanadianRebate and more. You can also ask your favorite company if they have one because you would like to talk about them on your blog. The worst answer you can get is No so you have nothing to lose to ask for an affiliate program.

I recommend that you install the plugin pretty link to show link like https://thefinancialtech.com/bluehost instead of http://www.bluehost.com/track/thefinancialtech/.

5. Traffic

More traffic you have on your site the more money you will make. To get some traffic I recommend that you post your link on some social media like Pinterest, Twitter, Facebook. These are going to really help you to push your content everywhere. Don’t just publish your link, but interact with your followers and other bloggers. That will bring you traffic and  more followers.

Some tools that can help you with social media :
For Pinterest, you can schedule your pin with Tailwind and Boardbooster to loop your pin.
For twitter, I am using tweetdeck to interact with my feed.

So like you read, it’s easy to start earning money with a blog. You just need to be motivate.

Readers : Have I missed something ?

Warning : Links in this post can be reference link so I get something in return when you are using it.

Some of my financial mistake

Financial MistakeEverybody do some mistake in their life. There are people who will admit them and others that will never admit them and make these mistakes again and again. I am one of the first kind so yes I’ve made mistakes in my investment and in my life, but I learned from them. This post will focus on the investment mistake since I have already posted about some of my life mistake I’ve made like the post about wasting money drinking and eating out.

Not following my investment plan

First of all, my first mistake was not following my investment plan. In 2016, I’ve started a Canadian Couch potato plan and shifted it to a dividends investing to a penny stock investment. This is way too much change for a year and I was trying to get rich quick and this almost never happens. So now, I am back to the dividends investing and I will stick to that.

Emotion on penny stock

I’ve lost most of my money with bad call in penny stock mixed with some emotional call like “buy more it will go up, it can’t go down …”. These were risky and I took 500$ to 25$ in less than 3 weeks. I can say that I felt in love with it at the beginning and kept buying shares. One of the investment rules in penny stocks is to never fall in love with a stock.

Invested in a company without a product

After that, I’ve heard about Titan Medical Inc and thought that seems to be a great company with a great future product. However, this company didn’t have any income and were developing a medical robot. Their road map changed and they needed more money so they made some share offering in the market and the price dropped from 1.20 to 0.50. I’ve invested some amount all between these prices. So now my 780 investment have a market value of around 500. I kept them since I already consider this money as lost and they made some change in the company that can bring a better road map or selling a product or being bought. If that happen it going to make some extra money for me else I’ve already considered a lost.

Market research

I’ve also invested in some electronic parts to sell on my own store and on eBay. The mistake is that it’s a niche where most of the user are ready to wait a month to get their parts from China. So I’m kind of stuck with these parts, but I still keep trying to sell them on eBay and if someones need it, they will have to pay a little more than China. I didn’t made a market research before importing some parts. I just looked at eBay and said “hey other seller from Canada charge way more than China, I could make money with that”. I should have looked at how much were already sold and not just at the price of the item. The profit margin is high, but if I’m stuck with these parts for months, it’s not the best since its money sleeping in my basement. At least, I can claim these parts and import fee as a business expense since I register my enterprise and that I’m still trying to sell them.

To resume my mistakes were that I didn’t follow my investment plan, I was too emotional on my penny stock, I invested in a company without product since I learned about it from co-worker and I didn’t do a market research before investing in some product to sell.

Readers: Did you made some mistake on your investment ?

 

Weekend reading – Drip, Missteps, Continuous investment, Snowball

This is my first 2017 weekend reading edition. Here’s my favorite articles from the last week that I had the time to read :

Readers : Have I missed a good article this week ?

Net Worth Jan 2017 Update : $16,856.53 (+$3,635.14 +27.49%)

Assets Nov-16 Jan-17 Monthly Change
Checking $185.62 $1,124.48 505.80%
Saving $943.55 $8.35 -99.12%
TSFA Investment $503.28 $590.00 17.23%
RRSP Investment $0.00 $0.00 0.00%
House $215,000.00 $215,000.00 0.00%
Car $15,000.00 $15,000.00 0.00%
Liability
Mortgage $203,839.93 $202,819.97 -0.50%
Car loan at 0% $12,328.66 $11,671.36 -5.33%
Credit Card $2,242.47 $374.97 -83.28%
NET WORTH $13,221.39 $16,856.53 27.49%

One of my goal for 2017 is to do monthly update of my net worth so let’s start with this one.

My net worth is going up again but next month it look like it will go down a little bit. Some big expense are coming like buying the small business Turbotax, which is around 100$ and paying my municipal tax, which are 600$ and the car license, which are around 200$. On the plus side my wife will make a little bit more next month since she found one new client (kid). We’ve made the choice that she will stay home for our baby since we think it’s the best for him, but this choice will bring home less money than before.

In January, I paid my credit card before the end of the month since I had the money and to start back budgeting. I found that was easier to start with 0$ on my credit card.

In January, our expense were  4059.62$ and our income were 5177.67$. Which make a surplus of 1118.05$. I had a boost in my income since my job pay my 10 sick day in the beginning of the year. Also, I invested in some washable diaper for my kid to save on the long term. This will be a subject of a post when I will finish crunching some number.

It look like I don’t have any saving at all, but since I’m using Tangerine for my account, I got all my money out of my saving account to my check account and I’m waiting until they have a new promotion with new deposit.

Readers : How was your January month ?