Thanks to the Blue team, getting a good coach in the NHL is going to cost a great deal more. Over $50 Million for 8 years? Hopefully he can get a Stanley Cup for 2017 (50th anniversary of the last Blue Team Cup victory). For all those other coaches out there, I guess “… a rising tide lifts all boats…”? Who will coach the Red Wings now? Paul MacLean going to come out of hiding? I do remember that the last Coaching Messiah was Pat Quinn, then there was Pat Burns, hmmm… well, good luck Mr. Babcock (and can you use an old Man Friday?).
Wanted, dead or alive…
In other hockey money news, the Sens rewarded the Hamburglar Andrew Hammond with a 3 year one way deal as well for about $4 Million dollars. Seems like the Sens now have a glut of goalies, someone will be taking the Via Train out of town soon (is my guess). Hope these folks have some solid financial plans to save this money.
Glad to hear that CPP is now worth $246 Billion dollars, that means I can live on low ash cat food when I finally retire (OK, I have a real pension, but I am allowed a little dramatic effect sometimes).
If you thought you were having a bad day, think of poor Li Hejun who lost $15 Billion on Wednesday, are they somehow implying that the stock market goes down? I suppose this means he had to be worth at least $15B before Wednesday ?
My Writings for Week Ending May 22nd
The Mad Men finale was fine by me, wrapped things up nicely, and I got to sleep in the next day, because it was a holiday, so nothing to be grouchy about there either. A short week for me, but I did manage to get two articles done:
- The 10 minute rule with money is one of those articles I started about a year ago, but couldn’t figure out where to go with it, luckily I found how to make it sentient.
- I keep comparing debt to things, I have previously said Debt is Like Fat, but this time, as I had been weeding my front lawn, I stated that Debts are like Weeds.
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A short one for today
Debts are so much like Weeds, removing them (one by one) seems like an insurmountable task, yet, if you go at it a little bit at a time, in a shorter period than you thought, they are all gone, but you have to stay diligent or they will continue to dominate everything.
There is your lawn and finance tip for the day, if you want a fitness tip read Debt is Like Fat .
One of the better “time management” tricks I have run in to over the years, has been the 10 minute rule, where my interpretation of it is:
If something takes 10 minutes or less to get done, do that first, and do the other stuff afterwards
It has been useful for me, as I have a tendency to get “stuck” and be unable to select any task to complete, but now, I simply find the little tasks and start doing those (which then gets me going to work on larger tasks), but how can we carry out this in terms of personal finance?
How Long Can 10 Minutes Be ?
I guess the question is, what is a 600 second task financially ?
- Updating your books (in Excel, Quicken, or whatever) should take less than 10 minutes, if you are doing it regularly.
- Pay a bill as it arrives. Michael James commented on my Too Many Bill delivery Mechanisms posts that this is how he makes sure all bills get paid, pay them when they show up.
- Call and cancel an unused credit card ? OK this one most likely might take a lot longer, but you never know, it might take less than 10 minutes.
- Run a backup of your financial records, and/or your computer, you can never be too safe in that area (also maybe start-up an anti-virus check, or an OS update)
- Do some shredding. You must have some old records lying around that need to be destroyed, do 1o minutes of shredding.
- Go in your basement, find 2 things you know you will never use and either donate it, or throw it out, do that once a day for a month and you might be surprised.
- Ride a bike, go for a walk or do 10 minutes of stair climbing, to plan for your retirement. (10 minutes of staring is not a good use of your time however).
Just some simple things to try to do, to get “unstuck” and start doing something. Are there other 10 minute financial tasks I have missed ?
Looks like Starbucks payment app for “smart” phones, has fallen victim to hackers, where they are able to hack the app, to steal banking info and then attack the customers banking or payment accounts. I have been having issues with my Starbucks account, and noticed many attempts to re-load (which is associated with a lightly used credit card, so it is easy to see it happening), so I assume I am a victim of this as well. Whatever has been trying this, has been unsuccessful as my credit card company simply refuses everything from Starbucks right now (not a bad response). Guess I’ll go back to paying cash from now on.
Release the Hounds
Not sure what the fate will be of my favorite evil billionaire Montgomery Burns, given that Harry Shearer (his voice on the Simpsons) will be leaving the show. Will I ever hear him say those tender words, “Release the hounds!”? I have always wanted to hear Mr. Burns ask, “Smithers! Who is this saucy Blogologist?”, in reference to me, but I guess that is not to be. Given Shearer now has free time does this mean a possible Spinal Tap reunion? All they need ask is to “Gimme some Money”, and I will be at their concert.
Wonder if I wrote a long winded not funny story if I could claim I was tired like the Green Party Leader and plead for forgiveness HA! fooled you, I do that all the time (without the forgiving part of course).
I have always said that Football (soccer) was a gentleman’s game, played by hooligans, but it seems their fans are at the hooligan level too (what rude and clueless prat thought #FHRITP was a clever thing to yell?) . Bad behavior at sporting events is one of the reasons I don’t take my kids to them (that and the LUDICROUS price of the events). Explain to me how a hot dog can cost $7.50 ?
My Writings for Week Ending May 15th
Mad Men is over this weekend, at least the Series Finale is this Sunday night, and I must say I did enjoy the show, but you would have guessed that from the man who wrote about the Financial Zen of Roger Sterling, wouldn’t you ?
- Stats Canada reported there are less part time jobs in Canada in April, but what did it really mean remains the question to be asked.
- To show I am still in touch with the dating world, I gave out some Class A dating advice, with Financial First Date Questions, and some excellent comments that went with it. Yes, my mind does work in mysterious ways.
More fantastic financial stories for this week if you click here
Given my amazing relationship skills (yes, like my investing, blind luck can be passed off as a skill), I figured I’d help out some folks with a set of useful questions that you can ask on your first date to find out if that person is compatible with you (or not), and has no Financial Skeletons in the Closet. I actually stole the concept from Reddit, but I have put a very financial spin on things, and please add your own questions in the comments, if I miss any good ones.
Some Say Relationships are like a Rubik’s Cube
- How many credit cards do you have in your wallet? How many total?
Note, if the answer is more than 4, run, don’t walk to the exit door
- Have you declared bankruptcy in the past 10 years ?
This might even be a pre-first date question.
- How much did that purse cost? -or- How much did that watch cost ?
If the purse cost more than your monthly rent, you are out with someone who likes the finer things in life (and that is not a compliment).
- Do you smoke?
Any answer other than “no” means higher insurance rates later in life.
- Active, Passive or Dividend Investing?
If the answer is, “I beg your pardon?”, steeee-rike three!!! Can a dividend investor live happily with an active investor?
- Would you rather owe 100 people $10 or 1 person $1000 ?
Again, there is no correct answer, the correct answer is, “Why would I owe people money?”
- When you need cash, do you use a “white” or no-name ATM?
There is no way you should stay with someone who thinks $3 a withdrawal is OK.
- TFSA or RRSP ?
Again, the answer “What?!?” is an automatic FAIL! However, if they answer TSFA, be on your guard.
- How much debt are you currently carrying, and what is your plan to pay it off (if you have debt)?
If the answer is, “I have no debt”, he or she is a keeper! However, if they say they are carrying $120K in student loans, ask what their profession is, if they are a Dentist, Doctor or some other well-paying professional, then you might be OK, but be wary.
Who said romance is dead? Best to ask these questions so you don’t end up in a Loveless, Sexless Marriage.