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Saturday, January 19, 2008

No more any expenses until the end of January

I now have 1 065$ in expenses for the month of January (which include money put in credit card, student loans, rent, etc...) and I will try to spend any more money until the beginning of February. I spend a little bit more than the 1 000$ I was projected to respect, but once again, I went eat out junk food again... It's kind of hard to control all those ridiculous expenses, but I am really determine to stick to the plan and not do any other expenses. I should have enough food for the rest of the month. I have evreything I need, tea, coffee, bread, milk, rice, chicken and so on lol.

So there's no reason why I should spend any more money around.

I did my lunch for next week. After that, it will be the last week of January and I think I will be able to make it without any other expenses. After rent, food is my major expenses and, if I cannot cotrol my rent expense, since it's a fix price every month, well, I can control my food expense. It's really demanding, controlling every penny.

But I told myself that since I only have a job now, I should discipline myself if I want to continue to save. And I am kind of surprise pf the reasult because in regular savings, I now have close to 7 000$. I should be the minister of Finance of Canada, I could do miracles (I am just saying that in order to keep myself motivate...). :)

RRSP investment

I have calulate my total earning without changing anything of my mutual fund amount. For the mutual funds, I kept the same amount like the one I had in December, because I don't want to cause myself an emotional breakdown.

I now seriously thinking about where to invest my RRSP money. As I previously wrote, I have about 5 000$ to invest. There's at least 2 mutual funds that I want. For now, I was thinking to put a 1 000$ in the CIBC Monthly Income Fund. It's a well-known fund with a strong background. Since inception, the fund gave 10.3% of return each year. I will definitely put money in there for my RRSP. I never buy CIBC mutual funds before and I just hope I will be able to buy that fnd without any problem.

I was also thinking to put RRSP money in a mutual fund that I already have: Desjardins Fidelity True North Fund. This fund his awsome. Even with the big crisis that we have now, I didn`t loose any money of my initial investment. I invest 1 000$ in 2005 in it, and in date of today, I now have something like 1 200$ in the account for the Desjardins Fidelity True North Fund, which I really love. So I believe that the fund is strong enough to be consider for my RRSP. In the Desjardins Fidelity True North Fund, I will invest 500$.

It's the only 2 ideas placement I know I will invest for sure for now. I still have a 3 500$ to invest for my RRSP. I have until the end of February to think of it.

Friday, January 18, 2008

It is now easier than ever for me to save my money

And I will explain why. I now only have one source of income. Before, I was spending a lot more on going out, going to the movies, clothes, eating out, etc... Now that I only have one source of income, I cut on almost everything that I could cut. I find it easier than ever to save, because I now discipline myself more.

And it's about 800$ to 900$ that I can put in saving monthly. Which is really good I believe. My expenses are now of about 1 000$ monthly. So I can say that I cut on almost everything. I eat out from time to time but it happen rarely. I fix the goal of 1 000$ not more not less for this month, and February too...

On my situation at this time

I lost a great deal of money lately and I didn't calculate how much I have lost not to do a major depression... lol

Anyway, I lost hundred and hundred of dollars. The situation is very terrible for me at this time, knowing how much I work hard for that money. And now is harder than ever because I do no longer have my second job, because of a lack of work. I search to fill similar positions, but unfortunately, I didn't get any responses yet. I did my search earlier this weeek. Time is passing slowly and I would like to see all my problems resolve. Anyway, the good news is that I have been able to make extra hours at my job, I am able to do extra hours if I arrive earlier than I am suppose to at my regular shift. But it make it hard at the end, doing the same thing for about 12 hours or near straight. It's easier for me to switch of place and work someplace, but at this time, I have no other solution. Regular shift are of 9 hours, and I try to do an extra 2 hours daily, but it's not everyday that I can do so because I have to admit, I sometime have problem to get up of bed, so it's hard to wake up earlier to show up earlier at the job and do those extra hours.

Other than that, I follow the news, and I have to say that I will definetely set my account shortly at the RBC to buy mutual fund by my own, I will actually set a time Monday because wow, all the units of mutual funds are so low, it's a good time to buy. Too bad the RBC O'Shaughnessy Canadian Equity Fund is now clos because now, the units are only 15.23$ each....

And I prefer not to think too much about it because I have lost about 7$ on each unit so far....

Let's say that fo now, I didn't sell anything and I am very proud of that. No matter what, my money will stay there, until I reach my first 50 000$ at least....

Thursday, January 10, 2008

I am loosing big bucks in mutual funds

If it wasn't for my good nerves, I will be in a major depression right now lol

The units of my super mega fund, the RBC O'Shaughnessy Canadian Equity Fund had past from about 22$ to 16.20$. Even during the crisis regarding the credit thing, that fund wasn't doing so bad. It's just recently that things had been rough, that I begin to loss the money that I initialy invest.

I barely look at my other funds, but I know I might had lost a couple of hundreds of dollars. I just pray thing will get better. And in the meantime, I don't touch to the money, it's the best thing to do I believe for now. My situation is not that bad knowing that I invest that money for a long time basis. And I have like about more than 10 000$ put in save regular saving bank account. So let's say that things could be worst than what they are now.

So I won't calculate for now how much I have for now in mutual funds because I know I might have lost a lot. And it's terrible knowing how hard I work for that money. The situation is very terrible for me. And like if that wouldn't be enough, I only work 9 hours at my second job this week. So plus the bad news regarding my investment, I also have a bad news at my second job, lack of work. I am looking for something else because when I was working nearly full-time at a second job, it was 300$ after taxes that I could make weekly.

I am still not set for my 2007 RRSP, I plan to do so in the following week. It make a lot to take care of and it's hard some time to get organize in a way to make it happen.

Friday, December 14, 2007

I just received a 50 cents augmentation at my second job

So for now on, instead of 9.50$, I am getting paid 10$ per hour. lol :)

What I used to like about that job it's that the hours were flexible. Right now, it's not the case, and I can only work there 2 days per week, only when I don't work at my other job. So I can only work 13 hours weekly, at 10$, which make 130$, minus taxes... It's make a little extra.

I paid a 900$ debt that I had in my TD credit lign, so any extra money is welcome, especially during Christmas.

I continue my search for the best investment for my RRSP. I also need to open an account at RBC, in order to buy the mutual funds that I want.

Tuesday, December 11, 2007

I desperately need more growing in my portfolio

In order to spice up my portfolio of mutual funds, I want to add more funds to my "collection". I just enjoy so much receiving the papers that the bank send, I believe it might be something like once every 3 months, about how well did the mutual funds

I put those papers in a luggage that I actually block, but if I continue like that, I might take the whole space of the luggage just in order to keep all those papers. I didn't buy a mutual funds in a long time and now I would like to, but for now, I have that 5 000$ for my RRSP that I need to take care of and it's exhausting me, all those searches. And since I don't make a fortune, I still need to keep sme money for my living. But I don' t expect doing to much expenses in December, because I decide to do so. I have a 900$ and something that I took from my TD credit lign and I expect to pay it all this month. I keep browsing the web by searching for "best investments for RRSP", but nothing come out. I found advisor talking about it, but they don't get to the point, they don't provide the name of any best investments at all. And it's really frustrating. See for example, an article of talking about the subject, having for title Selecting investments for RRSP, right on the topic and it's by James Yih. The article is interesting and everything, but it doesn't go to the point, it's doesn't even propose investments idea. I read many articles like that one over the Web and I am getting to the point where I am asking myself if there actually someone out there who actually know what they are talking about! Everyone talk about those best investments for RRSP, but no one actually names them. Could anyone just write about it? Or am I going to be the first one? Anyway, since I am not a professional, my advices don't really count. But do I really care? I am so use to do everything by myself. But at the same time, I am risking a lot here. I almost feel like I am risking my life. If I fail, what will I do if something bad happen and I find out I pick the wrong funds? Because it's only a matter of that for me. It's not even a matter of do-I-have-the-money-in-oder-to-invest but it's only a matter of choice. So far, I am doing ok, but only ok. I cannot say I am doing very well. I am just at a point right now where I would like to be able to do better, but I just can't.

Dreaming of retirement: Sticking to the plan

It’s so funny that at 27, the only thing I have in mind is to retire early. Some people could eventually not understand, but knowing what I pass through at different work places, I am still lucky to be mentally healthy lol. It will be the second year that I invest massively in my RRSP. I have the money waiting in bank. I now just have to pick the funds that will make me a rich old miss. Because in my mind, it’s all what it is about, it’s about picking the best investment, crossing fingers and just hope it will turn for the best, knowing I can wait for 20 years in order to retire.

Since I am currently working and its look like I might still have that job for the upcoming days… I begin my search for the best investments for my RRSP. I have a 5 500$ to invest, but I might just invest 5 000$. I plan to invest the major part in mutual funds. I get through the analysts pick of the MorningStar and I had pick the following so far:

RBC O'Shaughnessy US Value
TD Dividend Income – I
TD Entertainment & Comm – I
TD Monthly Income – I

And it’s about it for now. It’s look like I will mostly invest in TD mutual funds. From the experience I got in the past, I might no be able to invest in the mutual funds that I want. So I am looking at other alternatives in case I cannot get what I want, as usual.

Sunday, December 9, 2007

Where all that money is coming from?

It's too bad, I way too much impress on my savings and on the return I got from my mutual funds. I have been working so hard for my money, from Monday to Sunday, week after week. It's hard to believe what I am able to do with not so much.

I am so close to reach my first 50 000$ goal now! If only I could make a little bit more than what I am having right now. My salaries varies from 9.50$ to 12$ and for 15$ for overtime. It's nothing much after taxes.

I will be able to invest 5 500$ in my RRSP this year after all

It's now my third week as a customer representative for a cell phone company. I have been through a too short 2 weeks training before beginning the job for real. Not that the job is that complicated, but there's a lot of things to learn and it's been a little bit hard on me since I didn't know anything about cell phone before I begin. Basically, the job is about answering customer calls and answers their request regarding the service they have for their cell phone.

The job pay 12$ per hour. Overtime is being paid 15$. I have been able to add my other job with that in my schedule. I did a lot of money during my 2 weeks period at the job as a customer representative because I have been able to work on a full-time at the 2 jobs at the same time. But only for 2 weeks. Once my regular hours came out from the cx representative job, I had hours all over the place, sometimes 10 am to 20 pm, other times 15 pm to midnight, etc... It's harder to put the second job in my schedule, but I hope to work at least 2 full-day per week at the second job, so I will be able to make at last 500$ after taxes. That's what my plan is about for now.

I will now be able to but that 5 500$ in my RRSP. I am currently looking for mutual funds and other in which I could invest that RRSP money.

Thank you

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