Debt management expert

I was feeling a lot better today, as I was able to sleep late this morning. My overtime really takes all my energy, but I am glade that it’s finally over. Today, I made the minimum payment on my credit card. I did one balance transfer, one of around 300$ from RBC Visa to TD Visa at the rate of 4.99% for 6 months. Once this transfer is complete (it could take until next Wednesday), I will transfer 2 589.38$ I have in debt at TD Visa to RBC Visa at the rate of 3.99%.

At RBC Visa, the special interest rate of 3.99% end at the end of October. Which mean I have until the end of October to pay off the debt of 2 589.38$... I can pay off this debt, but only if I sale of one of my investment. I pick Desjardins Fidelity True North Fund. I will sell this investment. I have 1 000$ in it. From what I calculate, by the end of October, I will have 400$ left to pay on my credit card. But this will work out as I have a bit more than 300$ in my ING Direct account…

I have to find a way to withdraw the money from my ING Direct account. I think the only way, without having to pay any fee, is to proceed to a debit with their banking card. I remember receiving it a long time ago, but I cannot find it anymore… I have my high interest saving accounts with ING Direct since, I believe, 2005.

Life will be a lot easier for me when my 2 500$ little debt will be completely paid off.

About my other debts

Provincial student loans: 1 199.21$ at 4.75%
Federal student loans: 8 821.55$ at around the same rate
TD credit line at 8%: 4 865.68$
For a total of: 14 886.44$

Fact is, I don’t have too much debt. But I am slowly getting into the point where I am getting enough of debts. In a close future, I will look forward to pay some debts, while trying, at the same, to continue to invest. But in order to do so, I need more cash and more cash = get a second, third, fourth job, like I was doing before. I just have a couple of things to take care of. And even to transfer 2 of my investment into RRSP with Scotia iTRADE, I do not even have the money to pay TD Waterhouse the transfer fee, which is of around 25$ per transfer… I am that broke…. But things should get better soon once I work into my debt management program. Dealing with money problems is never easy, but there’s always a way out.

Weekend spend at work

My day was pretty exhausting as I finish my shift at midnight yesterday, and begin wake up at 7:30AM to run to work for 9:30AM. I was told to leave around 7:30PM, when there was no call, so I left. I set-up my NIP for my CIBC Dividend card, went for groceries, and went home. I work also tomorrow. I hope to get 1 100$ after taxes in paycheck in 2 weeks for now. I also have overtime for Monday, where I will do 9AM to midnight, but it’s going to be my last day of overtime. After what, I will be working from 4 to midnight, from Monday to Friday, which is my regular shift. I was told there wasn’t going to have overtime available for a little while after that. For sure, I won’t be doing overtime for at least 2 weeks, even if there’s any available. I had taken over 70 calls today. It was crazy.

About my debt management plan

During my lunch time, I call my credit cards to see if something could be arrange for a credit card balance transfer of my current 2 500$ I have at 3.99% and which will expire by the end of September. It’s seem like no special interest rate can be propose to me at this time by td visa card or RBC Visa. At both places, I told the guys I had 50 000$ worth in investment. They didn’t seem to be impress by that because they didn’t make me an offer lol.

The only solution is the offer at RBC Visa for the month of October, but October only, as my current special offer with my td visa card expires this upcoming September. This is too bad, but at least, I know where I am going. In 2 weeks, I will be able to make a payment of 700$ on my credit card. The debt will than be at 1 800$. I was thinking about selling my Desjardins Fidelity True North Fund. Currently, my Desjardins Fidelity True North Fund worth around 1 050$. After what, I would only had left 750$ to pay. If only I could sell Dumont Nickel at 4 cents! But that deal hasn’t happen yet. And I doubt it could happen anytime soon… I cannot rely on that little trading deal to make money out of it. I have 350$ in my ING Direct account. I have to say, I don’t have too much in my internet savings accounts.

I have around 100$ on my TD credit line at 8%... We are now down to 300$. I could pay the 300$ in October. By the end of October, I could transfer the 2 500$ at RBC Visa for the month of October and by the end of October, I could pay off the 300$ I need to pay. I don’t to pay 19% in credit card rate on a 2 500$ debt of mine knowing I have the resources to pay off this debt. It’s frustrating. 19% on 2 500$ make 475$ in interest for a year, for 40$ of interest per month… And knowing I continue to carry on other debts, I am better to pay off this one as soon as possible.

But at the same time, the selling of my Desjardins Fidelity True North Fund make me feel sad because Desjardins Fidelity True North Fund was my really first investment… Sometimes, selling is a necessity. You can talk to Derek Foster about it lol.

More about my Dumont Nickel (DNI) deal

Earlier this summer, I had purchased 23 000 stocks of Dumont Nickel (DNI) at 3 cents per stock. The investment value was of 719$. I was hoping to sale DNI at 4 cents. I place the sell order in July. But in July, Dumont Nickel (DNI) never hit back the magic 4 cents. I renew the sell order in August. My sell order had expired on August 28, and the sell never went through. Could August 31 be my lucky day? We never know, but I doubt DNI will reach 4 cents on that day. I will renew my order for sure; I hope one day this penny stock trade will work out… lol.

Just Energy Income Fund dividend

Also today, I received one new unit of Just Energy Income Fund… and 10 cents in cash in my td waterhouse broker. I should had received not 10 cents but around 7$, knowing that the price of one unit of Just Energy Income Fund is around 13$. I will verify my account again tomorrow. Or... Could it be another mistake of TD Waterhouse? (LOL!!!!)

Happy Surprise: my Google AdSense income is slowly increasing

I am not writing for HubPages for nothing after all. My Google AdSense income had slowly increasing and so my Ebay earnings. I am looking forward to continue my online money journey. It’s just I didn’t have too much time lately.

And what’s next?

More of my extraordinary writing on HubPages, selling of Desjardins Fidelity True North Fund, payment of my 2 500$ credit card, opening of my Scotia iTRADE account and… job searching :)

$$$

Sprott Inc. (SII) has now its own DRIP

I was waiting for my Sprott Inc. (SII) dividend. I had received them today, but when I took at my online broker account, I was surprised: I had 3 brand new stocks of Sprott Inc. (SII). This Sprott DRIP is brand new and I am quite happy to have it done automatically. This is way too fun. I prefer to be enroll in a DRIP. It helps me to increase my dividend income.

OVERTIME!

I had overtime as birthday gift for my 29 birthday lol…

I did around 13 hours at work today. There’s overtime available until Monday. So I am doing a max of hours as you can imagine and I hope to receive 1 100$ after taxes on my next paycheck. I really need it since I had no news still from my weekend job even if I call and left a message like usual.

Because I suddenly now have overtime available, I am going to open my Scotia iTRADE account sometimes next week, before calling for the rest of my questions. I am also going to be job searching if I don’t have any news for my weekend job. And I also have my TD Visa offer of 3.99% special interest rate that expire on September. I have a 2 500$ debt at 3.99%. I can have it transfer for one month (for the month of October) at RBC Visa, but for one month only. I am just hoping CIBC Visa will be able to offer me a balance transfer at a cheap rate. If not, I will have to sell one my investment and I don’t want to do that for now.

I am now 29 and I have 51 681.79$ in assets

Living on a very tight budget

My paycheck of this week almost reaches the 900$. I have currently a total of 939$ in my banking account, which is enough to pay my rent (535$) and my student loan (155$). And I have left 249$ to make the minimum deposit on my credit card. I might have 150$ to pay on my credit line (the minimum payment never appear in my online banking account at TD).

As for my td visa card, the minimum payment should be of around 25$. I have 74$ left to pay my RBC Visa at the rbc royal bank, which I use all the time to pay my groceries and other… This is what I call living on a tight budget, but good news, I am able to pay everything! And on the next pay, I will be able to clear off my RBC Visa… Let’s say that ater those payments are going to be made, I won’t have too much available in my online savings accounts.

I am now at 51 681.79$

Since today is my birthday, I calculate my overall online investment for my 29 birthday. I am now at 51 681.79$! I am now looking forward to reach 75 000$ value in assets (this is our next goal). And I am only missing 23 318.21$! My financial planning for retirement is doing quite well.

About Ted Kennedy death

On August 26, Ted Kennedy died. I wasn’t particularly effect by the news, but I guess I am just pretty ignorant on everything he might do for Americans. I never too much like the Kennedy family for plenty reasons, I don’t even feel close to them. But if you talk to me about Obama, well, it’s another story. I go crazy in love for Obama. And since we talk about Barack Obama, since Obama had been elected as President of the USA, I had been able to reach 50 000$ in investment and 2 000$ in dividend. My 2 goals had been reached under Obama leadership. I am telling you, I am forever in love. But anyway, Obama is not even an American lol.

What shock me the most however regarding Ted Kennedy dead were the comments made by Brian Mulroney. I don’t like Brian Mulroney and I think he should retire for the public scene. I don’t like him because he didn’t pay any taxes on a 200 000$-300 000$ he had received from his German friend and I don’t like Mulroney because he made Canadians dependant of Americans. Our country should stand by our own. Not that I don’t like Americans, but as Canadians, we should rely on our own resources to develop our country. What Brian Mulroney did in the 90’ was an atrocity. Decades after, Canadians still suffer from Brian Mulroney lack of leadership. We shouldn’t have to rely on the US for our own economy. I dislike everything that Brian Mulroney did in his life. Just another Quebec bastard. And don’t think that it’s because I live in Montreal that I am a Quebecker because I am not a Quebecker. And I will never be one of them.

Do I have any American investment in my portfolio? Unfortunately yes, but just one, an RBC mutual fund that I had no choice to pick. It was back in the days where I barely knew what I was doing and was investing thought financial advisor. But those days are gone forever. American stock market is huge and it’s the perfect market for penny stocks trading because a lot of trading is being made on any kind of stocks. Here in Canada, from my young but lovely experience, dividend cut or suspension haven’t been that bad compare to the US. But still, Canada is the place for investor and Canada is the perfect market to make a living from dividend income. Also because of taxes and the dollars exchange, and also because I don’t have that much money, I prefer to stick with the Canadian stock market for now.

And with my upcoming Scotia iTRADE account, I am going to get a cheap online stock trading.

Jean Charest and financial fraud

It make me laugh when Jean Charest (prime minister of Quebec province) said he wants a more severe legislation for financial criminal like Vincent Lacroix and Bertram Earl Jones because for the case, he never accepted that an investigation to be open regarding the Caisse de dépôt et placement du Québec scandal that involve, among other, its ex-director, Henri-Paul Rousseau. Jean Charest is definitely just another Quebec bastard and I am turning 29 on today, August 27.

HAPPY BIRTHDAY TO ME!

Switching to a cheaper online broker: Scotia iTRADE

The latest TSX gains had quite a positive impact on my portfolio. Sure, it’s not like on August 5, when the TSX exceed the 11 000 points, but still, a mark higher than 10 900 points is a positive gain and I hope the TSX will continue to gain points like this on a regular basis.

Purchasing stocks online is really easy through my tdwaterhouse. I really like to buy stocks online with tdwaterhouse. Only inconvenient: at 29$ in commission fee per trading, tdwaterhouse is expensive. I am looking forward for a cheaper discount broker solution. This is something I had in mind for a while now. I had read positive comments about Scotia iTRADE on milliondollarjourney.com. I also had called Scotia iTRADE one time just to confirm some information.

The magic of 50 000$ at Scotia iTRADE

In August 5th, I hit a bit more than the magic 50 000$ value in assets. With Scotia iTRADE, since I have at least 50 000$, I could only pay 9.99$ per trade. At this time, I do not want to close my tdwaterhouse account. Right now, I am looking for a solution for my RRSP. With tdwaterhouse, even if I am register with their eService, tdwaterhouse is still going to charge me an annual fee for RRSP. I don’t remember how much, but still, I do not want to be charge any annual fees. The solution would be for me to open an account with Scotia iTRADE. After, I could get 2 or 3 of my major assets being transferred to Scotia iTRADE. Once they had been transferred to Scotia iTRADE, the 3 assets (I was thinking about BNS, FTS and PGF.UN), could be transferred over RRSP.

From what I remember, tdwaterhouse is charging me 25$ or something like that (plus taxes) per stocks I transferred to another online broker. For the transfer of all assets, its 175$ (plus taxes), if I remember correctly. I want to keep my tdwaterhouse account open; I just want to transfer a few assets. Anyway, my 50 000$ is way too much diversified in too many financial services, it will be too much work to get everything transferred at the same place and, just for security reasons, I do not want to have the money invest at one single place. I am just like that.

It’s still summer time and I am already thinking about RRSP lol. I don’t won’t to face the same problem this yea, to pay 3 000$ extra in federal and provincial taxes for my 2009 taxes. No way! Since I do not have the same contact at Revenue Canada as Brian Mulroney who didn’t pay any income taxes on an asset of 200 000$ or something like that, well – I guess I will just have to keep going and working and going and working and… here we are. I am getting the whole thing organize. Reason why: I am going to be job searching really soon and I want everything to be all set when I will be working at a second and, if I am lucky, at a third and, why not, a fourth job lol.

Now, the only question I have left for Scotia iTRADE is the following: is there going to be a fee for transferring non-RRSP stocks into RRSP? This is like the final question I have for Scotia iTRADE. While I am thinking of it, another question that is crossing my mind: is there any fee for DRIP? I am register to an automatic DRIP for PGF.UN, BNS and some other of my stocks and units portfolio. The dividend I am receiving from those companies is being reinvested in order to acquire new stocks or units for free (at least at tdwaterhouse). I am going to ask this question to Scotia iTRADE, but that would be very strange if Scotia iTRADE would charge me for such thing.

I once call tdwaterhouse about RRSP. I was just curious to find out if for non RRSP stocks investment, to turn them into RRSP – do I need first to sell the stocks? The answer that had been provided to me is no, that they had their own way to do it and that no sell was required. Nice. And now, what about Scotia iTRADE? I guess the answer will be the same at Scotia iTRADE, but I will ask it anyway.

More money = more problem. I getting those kinds of problems that only those rich people have and it make me laugh.

Be aware of the inactivity fee at Scotia iTRADE

There’s an inactivity fee of 25$ that will be applied if no transaction had been made for 3 months. At tdwaterhouse, there’s no such inactivity fee. But if in the overall Scotia iTRADE broker account (RRSP, CELI and regular broker account) – for those 3 all included, if you have at least 10 000$ in assets, no 25$ will be applied per period of 3 months of no activity.

The whole online broker account deal is not so complicated, it’s just it’s making a lot of things to look into at the same time.

About my new CIBC Dividend Card

This weekend is going to be a fun one, even if I am facing different frustrations at this time. Among a few things who make me happy, I have my brand new CIBC Dividend Card.

I had a credit card with CIBC since 2005. Back in 2005, I had a CIBC Aero Classic credit card. I wasn’t that much aware of the fees and I didn’t pay too much attention to it until recently, were I notice a fee of 29$. At that time, I call CIBC customer service to see what the reason of the fee was, saying that I didn’t have that fee before to pay for CIBC Aero Classic credit card. I had been told that yes, there’s an annual fee of 29$ for the CIBC Aero Classic card. It’s just I never had notice the fee before. Anyway, I ask to have a credit card with no annual fee. I had been suggested the CIBC Dividend Card.

I recently received the CIBC Dividend Card. The CIBC Dividend Card was no annual fee… but watches out the credit card annual rate… 19.5%. One advantage – and the only one – of CIBC Dividend Card is that it’s allowing holders to earn 1% in cash back, which is interesting.

Other interesting thing: CIBC offer users of CIBC Dividend Card free checks that can be use to pay out rent and pay bills. Fun, but knowing that the interest rate is of 19.5%, I probably won’t use CIBC Dividend chequing service, but I might order some, just in case of need.

I open this CIBC Dividend Card because I didn’t want to close the credit I had at CIBC and I didn’t want to pay any annual fees. Big plus: CIBC always offer me a good service. I also have investments with CIBC and I always received the best service from CIBC, from the credit card and investment department. To make one story short, I had non-RRSP mutual fund investments with CIBC. Last year, I call to transfer them into RRSP. The transformation had been made in the matter of a few minutes. I didn’t get the same good service at Desjardins.

I had one mutual fund with Desjardins. It’s the Desjardins Fidelity True North Fund. I once call to have the investment transfer into RRSP. I call ACCES-D, Desjardins customer service. Problem is, I was calling to receive customer service, but I didn’t receive any. I was told I need to present myself to a Desjardins Caisse to have the operation complete. Which I need, but I was told the transaction couldn’t be completed. This year, I am going to try again. If Desjardins don’t allow me to transfer my investment into RRSP, those people are going to have a hell of a time. I dislike Desjardins and their agents of ACCES-D customer service are really arrogant, almost worst than the one of TD Waterhouse.

Other positive experience with CIBC: when I received my new CIBC Dividend Card, I call customer service, saying that I had pay for the annual fee of my late CIBC Aero Classic and wonder if I could get credited. I had been credited 19.99$, which I accepted.

See, CIBC always offer me the best customer service of the world and I am very grateful for that.

Living for working or working for living

This is actually soo bad, there’s no overtime available this weekend for people of, lets say, of my department. I am really having enough of my job and I cannot take it anymore. You do your best everyday and in return, what you got?

Hours cut, no overtime, bad pay, bad treatment and sh*t lol. I once haven’t been paid for an hour on my paycheck. I requested the hour to be pay, but it never did, because of my supervisor. My supervisor is a cool guy, but whenever it come to hours missing on my paycheck well, forget about it. I don’t know if its his fault or who’s fault it is, but one day, I am going to leave all that sh*t behind lol.

For now, I am going to be able to pay my bills for the month of September, but it’s going to be rough and tough. My next paycheck should be of around 800$. First I have to pay my rent for sure, 535$. No problem for my metro pass as I can pay it using another credit card of mine. I also have a student loan to pay. The minimum payment is around 165$ if I remember. If I calculate my rent and my student loan debt payment together, right there, it’s making 700$... I hope I will be receiving a 800$ paycheck! Plus I have left 50$ in my bank account…

I always some money left at ING Direct in case of emergency. Not to talk about all the money I have invested. But my investments are my investments and I prefer stop eating before taking any money from those precious $$$. And it’s a perfect time to stop eating because I am fat.

Anyway, I can always use 190$ I have left on my credit line… And oh, on August 28, I should received around 12.50$. I have 2$ and something left in my broker account. Those will help me to pay the minimum require on my credit line.

It’s going to be ok, but I dislike this kind of situation. Too tight budget.

You should had invested in Yellow Pages Income Fund yesterday

You should have invested in Yellow Pages Income Fund (YLO.UN) like me yesterday because YLO.UN is currently at 5.12$. Yesterday, I had purchased 300 units of Yellow Pages Income Fund at 4.94$. Today, Yellow Pages Income Fund (YLO.UN) is up of 0.18 cents… Nice profit of 54$!

This is awesome. Actually, I prepared myself for exactly the opposite yesterday, telling myself I was purchasing Yellow Pages Income Fund units in order to reach my 2 000$ dividend income goal. Currently, my overall investment with Yellow Pages Income Fund is of 2 074.95$. Before my purchase of yesterday, I had 101 units of Yellow Pages Income Fund. I now own a total of 401 units of Yellow Pages Income Fund. Currently, my 401 units of Yellow Pages Income Fund worth 2 053.12$, which is not so bad.

I wake up late again this morning; I really got drain up by the hot weather and my job. I finish early yesterday, at 10PM. I did some laundry (at least I am having clean clothes to wear today :)), connect to the Internet, but I didn’t write any HubPages or anything. I was just in front of my computer, feeling miserable. Some of my hours had been cut and I had been told that if we were doing overtime, it wasn’t paid, but I gave my name last Friday to do overtime, so that day should be pay, at least.

Usually, I start my shift at 4PM, but today it’s t 5PM. I was told to begin at 5PM today. My supervisor wasn’t there yesterday, so I couldn’t talk to him. I would like to work Saturday for extra hours. There are always so many calls during the weekend. I hope overtime is going to be available. And I will take Saturday off. For next week, I am in need of a good 1 000$ paycheck, if not, I will manage. My latest investment with Yellow Pages Income Fund really took all that I have. I am confident I should received at least 800$ on my next paycheck. But we’ll see. I also give a call to my weekend job saying that I was available. I guess nothing is available

For the end of this week until the beginning of September, I will try to control my expenses. I guess I have enough in food and other to stand until that time.

I am getting to start a job searching this weekend. I saw a couple of job offers I want to applied to. This is the best solution and the only solution available at this time. I was going to be job searching sooner or later. My weekend job is not that stable and I have a feeling work might not be available like promise in September. And I really dislike that place now. I had been kicked out of their survey project without any notice, giving me no way to set myself up and organize. I am feeling better just to know that I might not need to work for them ever again.

It’s going to be a busy weekend.

My 300 units purchase of Yellow Pages Income Fund (YLO.UN)

I had purchase 300 units of Yellow Pages Income Fund (YLO.UN). Here’s the update of my annual dividend income:

Livingston International Income Fund (LIV.UN): 21.28$
Bank of Nova Scotia (BNS): 201.88$
Fortis (FTS): 106.08$
Just Energy Income Fund (JE.UN): 285.22$
Methanex Corporation (MX): 70.56$
Pembina Pipeline Income Fund (PIF.UN): 157.56$
Pengrowth Energy Trust (PGF.UN): 771.60$
Sprott Inc. (SII): 50$ + special dividend of 75$
Yellow Pages Income Fund (YLO.UN): 320.80$
TOTAL: 2 059.98$

Unless I did a mistake or calculate wrong, but I won’t think so, I now have an annual dividend income of 2 059.98$. My annual dividend income should just keep increasing over time. Once the recession will be over, Livingston International Income Fund (LIV.UN) will continue to pay dividend to their unitholders just like before. Pengrowth Energy Trust (PGF.UN) will increase their dividend to the same amount as before… And so on… lol

And what about a Just Energy Income Fund (JE.UN) special dividend?

Just Energy Income Fund (JE.UN) will, at some point, proceed with the payment of a special dividend. When the fund was still under the name of Energy Savings, the company had proceeded, in the past, to the payment of a special dividend. Now that Just Energy had completed the acquisition of a another company, a little while ago, JE.UN profit will increase, money will come like crazy and... unitholders will receive a special dividend...

We can suppose that my dividend annual income will just boost over time… and increase fantastically.

And now… tell me after that I don’t have it all. lol

Currently, the value of my stocks and units portfolio is of 24 962.82$. And I have 50$ left in my banking account ;)

Pengrowth Energy Trust (PGF.UN) dividend for the month of August 2009

I receive today 63.60$ in dividend earning for Pengrowth Energy Trust (PGF.UN). I earn a total of 7 units of Pengrowth Energy Trust (PGF.UN). I now own 643 units of Pengrowth Energy Trust (PGF.UN). The DRIP on Pengrowth Energy Trust (PGF.UN) is really great. I hope to see the value of this investment to increase over time. My initial investment was of 6 221.87$. Currently, my investment made with Pengrowth Energy Trust (PGF.UN) now worth 6 096$, which is really good. DRIP is nice for dividend income: it’s allowing me to earn a couple of stocks and units for free.

Since my PGF.UN dividend increase from 763.20$ to 771.60$, let’s update our annually dividend income:

Livingston International Income Fund (LIV.UN): 21.28$
Bank of Nova Scotia (BNS): 201.88$
Fortis (FTS): 106.08$
Just Energy Income Fund (JE.UN): 285.22$
Methanex Corporation (MX): 70.56$
Pembina Pipeline Income Fund (PIF.UN): 157.56$
Pengrowth Energy Trust (PGF.UN): 771.60$
Sprott Inc. (SII): 50$ + special dividend of 75$
Yellow Pages Income Fund (YLO.UN): 80.80$
TOTAL: 1 819.98$

And let’s add to this 300 units of Yellow Pages Income Fund (YLO.UN) x 0.80 cents = 240$

1 819.98$ + 240$ = 2 059.98$

Currently, Yellow Pages Income Fund (YLO.UN) is at 4.91$ per unit. I currently have 1301.45$ available on my credit line. I also have now 457.20$ on my banking account. TD banks seem to all open at 8:00am in weekdays. This is great, because I am going to be able to make an extra payment of 400$ on my credit line before the TSX stock market open, as its open at 9:30AM… It’s just I have to wake up early tomorrow and I am not too use to that anymore.

I guess Yellow Pages Income Fund (YLO.UN) price will remain basically the same tomorrow. I will be able to purchase 300 units and I will probably have extra to leave on my credit line. I just cannot wait. This 2 000$ dividend income goal in really important to me. Its mark a giant step in my goal to reach financial freedom.

My next goal is to earn the equivalent of 200$ per month in dividend money. This mean I need to reach 2 400$ in annual dividend income…

2 400$ - 2 059.98$ = 340.02$

After what, I will only be missing 340.02$ in dividend income to reach 200$ per month in dividend income… That will be the next step.