Tag Archives: Mo’ Money Mo’ Houses

Aug 4: Best from the blogosphere

By Sheryl Smolkin

Every week in this space we offer examples of some of the blogs and personal finance articles we believe represent the Best from the Blogosphere. That’s why we were interested in a list recently published by LSM Insurance of the Top 50 Canadian Personal Finance Websites using various online metrics described in the accompanying article.

Here are several blogs (as opposed to mainstream media outlets) that made the list, and the “most shared content” that helped them get there.

Tom Drake at the Canadian Finance Blog was #10 on the list. How to Calculate Your Credit Score For Free has been a perennial favourite. Drake says that it’s actually fairly easy to see where you stand when it comes to your credit score. All you need to do is visit this credit score estimator and fill in the fields. Once you have done so, the calculator will tell you what range your score falls into.

Young and Thrifty was ranked #13. Sean Cooper helped to put this blog over the top with his guest post How to Achieve Findependence at Age 31. His three step approach is to achieve mortgage freedom by renting the top floor of his house and living in the basement apartment; have multiple income streams – by day he is a pension analyst, and by night he is a financial journalist and landlord; and, frugal living. You can see his own blog here.

The 24th spot went to Mo Money Mo Houses where How Can She Afford That? She Can’t, That’s How generated considerable interest. Jessica Moorhouse says people may appear to be more affluent than you are because they have big houses or fancy cars, but if they are in debt up to their eyeballs, it’s all an illusion. In order to maintain a lifestyle in the black, her parents had to live frugally. They only bought what they needed and lived fairly simply. To this day, that’s how she still lives her life and that’s why she is also not in debt.

At #30, Nelson Smith on Sustainable Personal Finance got the blogosphere buzzing when he wrote about Living in a Shipping Container – really! After their life is over making trips across the ocean, shipping containers are often auctioned off to the highest bidder. Sometimes these high bidders are businesses looking for cheap storage options. Or, if you want to get really crazy, you can build a house with them. Before you poo-poo the idea, Smith says that you can check out some pictures of houses built from storage containers in his blog post.

And rounding out the list at #50, Nancy at Money on Trees questions whether Netflix is really all you need. As a first time home buyer with little discretionary income, she says she simply cannot afford to spend $80 a month on satellite or cable. What she really misses are sports but even these are becoming more accessible as major events like the 2014 Sochi Olympics and CBC’s Hockey Night in Canada are streamed online. We have also been watching many Pan Am events online this summer and displaying then on our “smart” television which has a bigger screen.

Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information with us on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.

Sept 29: Best from the blogosphere

By Sheryl Smolkin

As I write this, Summer is definitely over. The nights are getting chilly and the tree on our front lawn seems to be dumping a never ending volume of leaves.

If you are offered something for free it seems to always end up costing you money. In Free is a Good Price (but still can be expensive) Big Cajun Man because they have Home Depot credit cards, he and his wife are now victims of yet another massive personal information breach, which may cause them financial Issues in the future. As a result, he got free Equifax credit monitoring for a year, but the services were not really free because his identity is now in the hands of “dastardly thieves.”

Robb Engen asks the question Should You Pay Off Your Partner’s Debt? in Boomer and Echo. The decision to pay off a partner’s debt shouldn’t be taken lightly, as it can lead to resentment or even divorce if the couple is truly financially incompatible. Nevertheless, he and his wife pooled their resources and their finances became a joint endeavour after they started living together in 2003.

Jessica Moorhouse blogs at Mo’ Money Mo’ Houses. She tackles the issue how to manage family finance when one partner is a freelancer with erratic income. For any of you in a similar situation, her only piece of advice is to communicate, communicate, communicate! Being on the same page is crucial, even when you make money differently or one person makes more than the other.

Be cautious of debt repayment companies says Wayne Rothe on Retire Happy. They will consolidate and pay off your loans and set up a repayment schedule to their own company. He says this is something you can do for yourself or with the help of a friend to avoid paying the additional fees that are part of the deal.

And finally, Choosing Mutual Funds in your Employer Pension? FrugalTrader  says pick the index funds – the ones with the word “index” in the title of the fund. If you follow the indexed “couch potato” philosophy of investing, then you’ll pick 4 funds:

  • Canadian Index
  • US Index
  • International Index
  • Bond Index

Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere?” Share the information with us on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.