Comments on: Penny Wise, Pound Foolish http://www.canadiancapitalist.com/penny-wise-pound-foolish/ Helping you invest and prosper Sat, 11 Feb 2012 19:27:54 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Mississauga http://www.canadiancapitalist.com/penny-wise-pound-foolish/#comment-182708 Mississauga Fri, 20 Feb 2009 18:30:13 +0000 http://www.canadiancapitalist.com/2006/10/31/penny-wise-pound-foolish#comment-182708 This is very true for so many families these days. It's so easy to think we need the bigger items, and end up wasting money while we spend time clipping coupons for 33 cents off instead of paying attention to the big things : -) Good post! This is very true for so many families these days. It’s so easy to think we need the bigger items, and end up wasting money while we spend time clipping coupons for 33 cents off instead of paying attention to the big things
: -)

Good post!

]]> By: Margot Bai http://www.canadiancapitalist.com/penny-wise-pound-foolish/#comment-18213 Margot Bai Fri, 19 Jan 2007 20:35:41 +0000 http://www.canadiancapitalist.com/2006/10/31/penny-wise-pound-foolish#comment-18213 Great thread and so true: big expenses are key to big savings... Mark thanks for your input Jan 16th about mortgages. I checked out your story on your website - that's a long, expensive life lesson. Nice that someone in a related, but independent field - real estate - can share insight without bias regarding mortgages. I like my mortgage rep but I never forget whose side she is on. I'm right there with you - short term or even open variable is hands down the way to go. This thread relates so directly to my book I've just had published (Oct 06). I'm a first time author so, like the webmaster, my book has been a labour of love. I ended up calling it "Spend Smarter, Save Bigger: Finding BIG savings in your home, mortgage, vehicles, insurance and investments". Anyway, sorry for the pitch but if you like this thread, try reading chapters one and two of my book on my website www.spendsmarter.ca (free download). This is my first post - I hope to post more in the future and I believe CC will be reviewing my book at some point too. Blessings, Margot Bai www.spendsmarter.ca Great thread and so true: big expenses are key to big savings…

Mark thanks for your input Jan 16th about mortgages. I checked out your story on your website – that’s a long, expensive life lesson. Nice that someone in a related, but independent field – real estate – can share insight without bias regarding mortgages. I like my mortgage rep but I never forget whose side she is on. I’m right there with you – short term or even open variable is hands down the way to go.

This thread relates so directly to my book I’ve just had published (Oct 06). I’m a first time author so, like the webmaster, my book has been a labour of love. I ended up calling it “Spend Smarter, Save Bigger: Finding BIG savings in your home, mortgage, vehicles, insurance and investments”. Anyway, sorry for the pitch but if you like this thread, try reading chapters one and two of my book on my website http://www.spendsmarter.ca (free download).

This is my first post – I hope to post more in the future and I believe CC will be reviewing my book at some point too.
Blessings,
Margot Bai
http://www.spendsmarter.ca

]]> By: Mark Argentino http://www.canadiancapitalist.com/penny-wise-pound-foolish/#comment-17833 Mark Argentino Tue, 16 Jan 2007 15:34:26 +0000 http://www.canadiancapitalist.com/2006/10/31/penny-wise-pound-foolish#comment-17833 True enough, cars are a complete waste of money, but most of us need one vehicle. JB's comment "If I save $1,000.00 on mortgage interest through careful planning/negotiation that pays for a lot of little stuff" is right absolutely correct. You have to watch and plan for the big ticket items. This is not for personal promotion, you can read my personal experience with mortgages and the advice here will save you Tens of $1,000's and 5 to 7 years of your life. Read it here: http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm#me I like what Loki says about getting a good deal on a major ticket item, that is also the way to go. If you can save even $10k on your real estate purchase, amortized over 25 years, that's a saving of about $23,000 Of course, if you follow my advice above, you will only have your mortgage for 17.3 years! :-)) Excellent blog and information. All the best, Mark True enough, cars are a complete waste of money, but most of us need one vehicle.

JB’s comment “If I save $1,000.00 on mortgage interest through careful planning/negotiation that pays for a lot of little stuff” is right absolutely correct. You have to watch and plan for the big ticket items. This is not for personal promotion, you can read my personal experience with mortgages and the advice here will save you Tens of $1,000′s and 5 to 7 years of your life. Read it here: http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm#me

I like what Loki says about getting a good deal on a major ticket item, that is also the way to go. If you can save even $10k on your real estate purchase, amortized over 25 years, that’s a saving of about $23,000 Of course, if you follow my advice above, you will only have your mortgage for 17.3 years! :-) )

Excellent blog and information.

All the best,
Mark

]]> By: Loki http://www.canadiancapitalist.com/penny-wise-pound-foolish/#comment-11084 Loki Wed, 01 Nov 2006 16:58:30 +0000 http://www.canadiancapitalist.com/2006/10/31/penny-wise-pound-foolish#comment-11084 CC: the need vs. want debate is always going on in the back of my mind too. Do I really need a 50 inch Pioneer Elite Plasma Tv? Do I really need that Roast beef dinner at Hy's? No and no. CC: the need vs. want debate is always going on in the back of my mind too. Do I really need a 50 inch Pioneer Elite Plasma Tv? Do I really need that Roast beef dinner at Hy’s? No and no.

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/penny-wise-pound-foolish/#comment-10997 Canadian Capitalist Tue, 31 Oct 2006 20:55:38 +0000 http://www.canadiancapitalist.com/2006/10/31/penny-wise-pound-foolish#comment-10997 Loki: I did a get good deal on the automobile. Last year, the price was slightly less than fair value (I checked the price books at the library). My point is before making a big purchase, esp. a fast depreciating item like an automobile, I should ask myself if I really *need* it. Loki: I did a get good deal on the automobile. Last year, the price was slightly less than fair value (I checked the price books at the library). My point is before making a big purchase, esp. a fast depreciating item like an automobile, I should ask myself if I really *need* it.

]]> By: Loki http://www.canadiancapitalist.com/penny-wise-pound-foolish/#comment-10988 Loki Tue, 31 Oct 2006 20:35:27 +0000 http://www.canadiancapitalist.com/2006/10/31/penny-wise-pound-foolish#comment-10988 I see a lot of people rushing out to a department store or grocery store daily/weekly for their whole life to buy some $30 items for $25... Just think... if you can save $25,000 by getting a real estate deal, or $8,000 by getting a car deal (as the Canadian Capitalist said above) you can basically never worry about the price of general consumables for the rest of your life... Saving $2 here and $10 there cutting coupons isn't worth it once you factor in YOUR time. I'd rather invest lots of time and energy in getting a real estate, car or other "big" purchase deal. My house shopping time is like paying myself $500-$2000 per hour. I see a lot of people rushing out to a department store or grocery store daily/weekly for their whole life to buy some $30 items for $25…

Just think… if you can save $25,000 by getting a real estate deal, or $8,000 by getting a car deal (as the Canadian Capitalist said above) you can basically never worry about the price of general consumables for the rest of your life…

Saving $2 here and $10 there cutting coupons isn’t worth it once you factor in YOUR time. I’d rather invest lots of time and energy in getting a real estate, car or other “big” purchase deal. My house shopping time is like paying myself $500-$2000 per hour.

]]> By: growth in value http://www.canadiancapitalist.com/penny-wise-pound-foolish/#comment-10986 growth in value Tue, 31 Oct 2006 19:01:03 +0000 http://www.canadiancapitalist.com/2006/10/31/penny-wise-pound-foolish#comment-10986 Fantastic post. I was just thinking about this notion to myself the other day -- how often I meet people who religiously clip coupons from the paper, yet they happily blindly sign up for the first credit card or mortgage that somebody offers them. The big stuff matters -- you beat me to it. But I'll probably still write on this. Fantastic post.

I was just thinking about this notion to myself the other day — how often I meet people who religiously clip coupons from the paper, yet they happily blindly sign up for the first credit card or mortgage that somebody offers them.

The big stuff matters — you beat me to it. But I’ll probably still write on this.

]]> By: MikeB http://www.canadiancapitalist.com/penny-wise-pound-foolish/#comment-10985 MikeB Tue, 31 Oct 2006 18:58:04 +0000 http://www.canadiancapitalist.com/2006/10/31/penny-wise-pound-foolish#comment-10985 CC, I know what you mean, it's discouraging when you get hit with large expenses after being so careful about the small stuff. JB makes a good point. My take is that I always take my monthly savings off my first paycheck of the month and if I have $10 left at the end of the month I am getting ahead. I prefer this to tracking pennies in a budget. Re cars: I drive a car that almost got written off by my insurance company b/c I had a cracked windshield. I don't know how better to describe the status of my vehicle. CC, I know what you mean, it’s discouraging when you get hit with large expenses after being so careful about the small stuff. JB makes a good point. My take is that I always take my monthly savings off my first paycheck of the month and if I have $10 left at the end of the month I am getting ahead. I prefer this to tracking pennies in a budget.

Re cars: I drive a car that almost got written off by my insurance company b/c I had a cracked windshield. I don’t know how better to describe the status of my vehicle.

]]> By: JB http://www.canadiancapitalist.com/penny-wise-pound-foolish/#comment-10976 JB Tue, 31 Oct 2006 16:18:33 +0000 http://www.canadiancapitalist.com/2006/10/31/penny-wise-pound-foolish#comment-10976 I've found that I don't/can't be bothered to watch the little expenses, however, I'm tenacious about the big stuff. Minimal Debt, no consumer debt and live within my means. I look at it like this: If I save $1,000.00 on mortgage interest through careful planning/negotiation that pays for a lot of little stuff. my 2 cents. I’ve found that I don’t/can’t be bothered to watch the little expenses, however, I’m tenacious about the big stuff. Minimal Debt, no consumer debt and live within my means. I look at it like this: If I save $1,000.00 on mortgage interest through careful planning/negotiation that pays for a lot of little stuff. my 2 cents.

]]> By: Guillaume http://www.canadiancapitalist.com/penny-wise-pound-foolish/#comment-10971 Guillaume Tue, 31 Oct 2006 15:06:51 +0000 http://www.canadiancapitalist.com/2006/10/31/penny-wise-pound-foolish#comment-10971 Don't forget the medium size expenses ; especially any gadget from Future Shop, Costco or Ebay in my case :-) Don’t forget the medium size expenses ; especially any gadget from Future Shop, Costco or Ebay in my case :-)

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