This was written in July 2008 just as the Markets started to crash. The Credit Fraud Market crash was astounding to live through. I was unlucky enough to be laid off during it as well. I look back on these kind of events, and shake my head when people attempt to paint them as “not that bad”. This was that bad.
Figured I’d add my 2 cents to the fray of Bloggers talking about the problems on the Stock Market these past few weeks. Is this an opportunity to buy? Should we be selling? Is it time to crack open skulls and eat the goo inside? Don’t ask me, I am standing pat for now, and we shall see what happens. My portfolio is down a fair amount, but my feeling is, now is the time, just to “Not Look”. Remember most of my stock holdings are in an RRSP, and thus aren’t a short-term investment either. I am watching TD with intent.
Q3 of 2008 for Personal Finance Started
For those of you doing a Quarterly Personal Finance report, remember that Q3 just started, and you might want to think about doing your Q2 report. I have been procrastinating doing mine, but need to get it done, to see what happened in the past 3 months, and see if there are any changes needed in our financial plan.
Money in the Jars?
Gail Vaz-Oxlade‘s favorite trick with her problem spenders is putting her spenders on a set cash budget which she puts in glass jars for them. Mrs. C8j is thinking that might be an intriguing summer project, I am not so sure. I understand the concept, but am not sure it is something I can live with. Stay tuned this could turn into an interesting discussion (Mrs. C8j did convince me to go on a diet 6 years ago, and I lost 80 lbs., and I didn’t want to do that either).
One thing I like about the money jars idea is it’s impossible to go into debt to buy something. Another is that it takes more emotional effort to spend cash than to use a credit card. Is it emotionally easier to hand a little plastic card over to a hotel clerk, or to hand over six twenty dollar bills?
When I first went to university, I didn’t have a chequing account, so had to pay my first month’s rent with a big wad of twenties. It was tough handing over that much “real” money.