I Hate Sean Cooper

For those who are not aware Sean Cooper came to the media attention a while ago when he talked about how he worked very hard to pay off his house in a short period of time (three years). Sean has also written a very interesting book (the amazon link is on this page, book is out soon).

Sean Cooper

Amazon Link for Sean’s Book


Sean’s story is not that unique in my circle of friends, I know a few folks who worked very hard to get out of debt quickly. With my friends stories, they had two solid incomes, and made it their goal to pay off their house in less than 5 years (and not in the Toronto Real Estate market). Sean’s story is a little extreme (in that he worked more than 2 jobs at times and did other extreme savings tricks) but still to be applauded.

How Can You Hate Sean Cooper ?

Do I hate Sean Cooper? Evidently the Internet does (if you look at the stories about him, the comment section is peppered with angry folks who disagree with how Sean did it, and how it is unrealistic to assume this is possible). Let me be clear, Sean’s method is possible, if you want it.

No, I do not hate Sean Cooper, I have met him at a conference, he seems like a very nice young man (remember I am an old fart). He cannot loathed for his lifestyle, he should be applauded for setting a tough goal, and then making it happen. Could I have done it? I doubt it, but I do compliment him for accomplishing his goal. Am I jealous of him? Absolutely!

Can you Do What Sean Did?

Can you do this? Positively, it is not hard (if you have a job, and a lot of self-control (if you have two incomes, why aren’t you doing this?)). Should you do this? That is up to you, but I would suggest reading Sean’s book and see that parts of his concepts you can use in your life to get out of debt quickly.

Examples of Trolls of Mr. Cooper

The CBC article had some classic troll comments about Sean’s story, that are just so amazingly venomous (and I can’t figure out why they are so pissed off at him):

  • “…Another media PR job to whitewash the economy misery of the youth. 100 hours of work a week = over 14 hours of work a day, every day. …”
  • “…On the upside, he did die a rich man. However, since he didn’t have a social life and had no children, the state took it all. …”
  • “…Why isn’t anyone asking where a 25 year old got a nearly 200,000 dollar down payment? I’d say he HARDLY was living like a pauper. …”

Reading the comments on the article is almost more entertaining (but again, why so negative?). I look forward to reading his book.

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Go Away 2016, Deep Thoughts, End of Year and #MoneyTalk

In terms of news, and music 2016 has been a real clanging pain in the arse, and because of that most folks will be glad to see this year over, but my only question for you is, “If so many famous folks died in 2016, do you think maybe they got wind of what 2017 is going to be like and figured they would check out now?”. That is a BCM deep thoughts for 2016 (but yes, I will be glad to see this year over with as well).

Have you done any of the things you should be doing for the end of year?

  • Top up your Charitable donations ? Those are counted on the calendar year, you have today to try to get it done (or go to Church on Sunday and they might count it as this year too).
  • TFSA juggling, if you were planning on taking money out of your TFSA, you should have done it by now, that way you can easily have the deposit space for next year, and you can start paying it back.
  • It is never too early to put money into your RRSP (if you have room, and don’t have a lot of debts).
  • Make sure you have paid all of your bills for 2016 as well (quarterly CRA, property tax, etc.,).
  • Evidently January 2nd is known as Divorce Day, so maybe you should start that early ?

You could always create a financial plan for 2016 as well (never a bad idea either).

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My Writings for Week Ending December 30th

I did manage to get a thematic post out this week, discussing the important celebration of Festivus, with Festivus Financial Airing of Grievances, and I have a lot to complain about this year, that is for sure! Next the feats of strength, get ready to rumble, baby!
☃️ Click here for more exciting financial news ☃️

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Festivus Financial Airing of Grievances

Now that we have put up the Aluminum Pole (with no distracting tinsel), it is that time in Festivus for the Financial Airing of Grievances, and there have been a lot of things that got on my nerves this year, so listen closely, don’t make me repeat myself!Financial Airing of Grievances

  • Housing Bubbles, what is up with this stupidity ? What morons are getting into these bidding wars for tar paper shacks down by the lakeshore ? No one needs a house that badly! Learn some self-control, “I really want it” is not a good reason to overspend on a house.
  • Fintech , taking the same bad investing concepts, implementing them on a computer using a little Artificial Intelligence (AI), and claiming you will get better results? C’mon man! Until someone explains to me (a programmer/geek) about what Fintech is doing for me, I am not drinking this Kool-Aid. Fintech almost seems like an excuse to hide more of the decision-making process from the end-user.
  • Good Debt , if I hear another financial talking head say that there is such a thing as good debt I will be using the aluminum pole for something more than just Festivus. Debt is a financial tool ( a bad tool ), but it is not good. If you can’t afford something, maybe that is for a reason. Why can’t I have a house like my parents? Your parents lived through 20% inflation, you didn’t! Stop whining and live within your means.
  • RRSP or TFSA , if you are losing sleep over this topic, but you are still carrying debt, you need to give your head a shake. Pay off your debt, then put money in your TFSA and then put money in your RRSP (or your kid’s RESP or RDSP), yes it is that simple. Pay off your debts.
  • Adulting, seriously ? It’s hard being an adult, and no, nobody is going to spend a lot of time trying to train you either, you are going to learn by trial and error, and you are going to make mistakes. This is what being an adult is all about. Each generation learns this way, luckily you guys will do better than my generation, relax.

This year has sucked in terms of Musicians who have died, weird election results, and the media getting it all wrong, let us hope that 2017 is a better year, or I am going to have a longer list for the financial airing of grievances for next Festivus !

Next, financial feats of strength! Let’s rumble!

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Christmas is finally here (on Sunday) and I hope it will be an enjoyable, festive season for you, your family and friends. Christmas is a special time in our household, and I am hoping this year will be no different. Remember to give to charity this time of year as well, especially if you are feeling especially fortunate, help them have a Merry Christmas. Charity should be part of your financial planning (if you are thinking of starting your 2017 plans, add that in).

The CRTC announced on Thursday that High Speed Internet access is a right for all Canadians. The line I like the most in the report was:

High quality and reliable digital connectivity is essential for the quality of life of Canadians and Canada’s economic prosperity.

– Jean-Pierre Blais, Chairman and CEO, CRTC

Will this somehow cause the big Internet Service providers in Canada make sure there are affordable (yet high quality) solutions available to all Canadians? My skepticism meter is reading high that things will change without a legislated solution in place (but we saw how well the whole $25 cable TV solution did). It would be a Merry Christmas if everyone could have access to basic internet, which is defined as:

  • speeds of 50 megabits per second (Mbps) download/10 Mbps upload for fixed broadband Internet access services.
  • an unlimited data option for fixed broadband access services.
  • the latest mobile wireless technology available not only in homes and businesses, but also along major Canadian roads.
Inflation by Category November 2016

Inflation By Category (November 2016)

Stats Canada published the November Consumer Price Index numbers and year over year inflation is running at a lowly 1.2%, but is it really? After a cursory look, it seems that it might be good this month with Food being a category where prices actually dropped.

As we have learned, there is a much more detailed report for the CPI, which answers a few more questions for us and gives us some tangible highlights:

Main contributors to the 12-month change in the CPI:

Main upward contributors:

  1. Purchase of passenger vehicles (+3.0%)
  2. Homeowners’ replacement cost (+4.4%)
  3. Food purchased from restaurants (+2.5%)
  4. Electricity (+3.5%)
  5. Homeowners’ home and mortgage insurance (+4.4%)

Main downward contributors:

  1. Gasoline (-1.7%)
  2. Fresh vegetables (-4.7%)
  3. Meat (-2.0%)
  4. Fresh fruit (-4.5%)
  5. Travel tours (-4.2%)

The fact that Gas is down in price is not nearly as interesting as how Fresh Veggies, Fruit and Meat are down in price. This is actual good news (for now), however remember the prices on those food stuffs have been going up big time over the whole summer. On the downside of things, Electricity prices continue to rise, not a good thing to see going into this Winter.

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My Writings for Week Ending December 23rd

As most of my regular readers know, I am not a very big fan of New Years Resolutions, but having a plan for 2017 (financially) is a prudent thing to do, so thus I give you Smart Financial Goals for 2017. However you want to motivate yourself to plan for the New Year is your business, but get a plan down, and start using it.

I found 8 Holiday Ideas to Save Money in my archive of unfinished stories, so I dusted it off and published it for a small Ho Ho Ho for this Christmas season. It is a sarcastic commentary, but would you expect anything less from me ?

A Warm Coat for the Winter

But do you really need this coat, for that price? I doubt it, and yes Kerry wrote about this two years ago (I note other folks are only talking about it now):

👇 For more great financial articles from this week click here 👇

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8 Holiday Ideas to Save Money

Given the Holiday spending season is upon us, I thought I’d help out with some great Holiday Ideas to make sure that save money so the Grinch isn’t waiting for you in January, to foreclose on Whoville.

Save Money

The Spirits of Xmas: Santa 75% off with a Monkey in a Palm Tree

  1. Convert to Judaism, a sudden religious change will throw off your family and save you from Christmas, however, you will still be on the hook for Chanukah so keep that one in mind (8 Crazy nights of Chanukah).
  2. Regift, regift, regift, the importance of this at holiday time cannot be underestimated. Other folks have worked hard to thoughtfully buy you something, so you should repay their thoughtfulness by giving that thoughtful gift to someone else (and saving money).
  3. Declare bankruptcy now, and beat the January rush. No one will expect you to buy them a gift if you are bankrupt (and you might make out like a bandit with gifts of cash), whether you actually declare bankruptcy is up to you (you could save money by simply stating you did it).
  4. Abide by the Christmas Rules , if someone asks you what you are buying them for the Holidays, answer with, “That puts you on the naughty list” and then don’t give them a gift. The rules of the holiday are clear about who does and does not get gifts, and it helps save money.
  5. Honest Mistake Option, on Christmas morning when everyone is handing around the gifts and such, and they turn to you and say, “Where are the gifts that you are giving”, put on your best act and say, “I FORGOT! OH MY GOD, I am SO SORRY!”. It is easier to beg forgiveness (as always).
  6. Play Christmas Chicken, don’t buy gifts for people you don’t think you will see over the holidays, and if you do see them, carry an emergency gift card from a gas station that you can give them (beef jerky, a gift card, or maybe a window scraper).
  7. Christmas Roulette, claim that you took all over your Christmas money, went to Vegas, and gambled it all on the Roulette Wheel (if you want you can say you put it on Black and it came up Green), and thus you have no money left for the holidays. Be very effusive about the things you would have bought folks had you won.
  8. The Reason for the Season, stop worrying about the gifts that you are buying folks, and just do something nice for them that they need done (that they maybe can’t do themselves)? The idea of Christmas is not to bankrupt yourself and drive yourself crazy trying to find the last GI-Joe (with Kung Fu grip) (or that Hatchimal thing), I know I go to Church. You know what says “I love you” the most? You saying, “I love you!”, surprisingly.

Don’t I sound Grinchy? Send me a lump of coal by Paypal if you wish.

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