This dilemma will inevitably come up for any personal finance blogger or person trying to get out of debt.
I will try to define the terms Cheap and Frugal using the diagram below:
Frugal is "socially acceptable" whilst Cheap is not
Scenario #1: Going to Work
Frugal: Walking or riding the bicycle; carpool and splitting cost
Cheap: Hopping on the ...more
A lottery is a tax on the stupid
If I had a dollar each time that phrase was mentioned, I think I would be rich enough to not need a lottery win ever!
Anyways, it is absolutely true that, mathematically speaking, buying the lottery is mostly negative EV (Expected Value). The EV ranges from 0.3 (30 cents ...more
If you haven't seen the movie In Time (2011) before, I would highly recommend it. What I really loved is their literal interpretation of how time is money and is a form of currency in this alternate world. So, to quickly summarize the movie, everything is paid by and for in time. You work to ...more
Now I am not against the idea of day trading in theory.
The stock market is comprised of average investors, who are Mom and Pops, institutional investors who are subject to many rules and regulations, and hedge funds, who are also subject to various rules and regulations. So you think to yourself, "Hey, I am my ...more
It is that time of the year again! Taxes! New TFSA Contribution room! RRSP Deadline! This will inevitably spur the discussion of Federal Government's "Gold Plated" Defined Pension Plan and how it's anchored basically by tax payer money.
Globe and Mail reported that the public sector pension is simply unaffordable. Is it really that awesome ...more
I recall seeing an wall ad on campus several years ago about a 2-hour financial independence seminar. Thinking it was related to investing and personal finance, I excitedly attended. In the conference hall, there were about 50 others already there. I noticed people from all walks of life there. I saw young guys suited up ...more
It's that time of the year again, Christmas vacation, snowbirds flocking down south. Many of us will be needing US dollars to spend south of the border. You go to the bank and get quoted a rate of 1.19 when the spot rate is around 1.16. That is almost a 3% premium! You begin to ...more
On the way back from vacation, I stopped by MIA (Miami International Airport) and snapped some pictures of their duty free prices.
Biggest Savings Percentage
3. Knob Creek Bourbon Whiskey - 46.73%
Duty Free Price: $29 USD
LCBO 1L Equivalent Price: $62.60 CAD
Savings Percent (CAD): 46.73%
2. Johnnie Walker Red Label - 48.16%
Duty Free Price: $18 USD
LCBO 1L Equivalent Price: ...more
I stopped by the Ronald Reagan Airport (DCA) at Washington DC during the summer of 2014 and had some time to snap a couple of pictures of Duty Free Americas alcohol prices. I also have a chart of prices and savings compared against LCBO in Canada.
Biggest Savings Percentage
2. Smirnoff Vodka - 55.13%
Duty Free Price: $13.50 ...more