FunnyMunny

Done

2007-06-21T22:24:00.000-07:00

You know what?
I don't think I'm gonna post anymore.

So I'd like to take this final post to thank everyone...
Mom, Dad, Tony, CFUN 1410, Breakfast Television, the Vancouver Sun, ShawTV, and everyone else who helped me along. But most importantly, I'd like to thank my fans.

It's been a great trip.

Bye. (Unless I'm back by popular demand, hint hint!)

Office Humour

2007-06-03T13:08:00.000-07:00

Once in a while, we just have to relax, and read comics about stock brokers.

Cyanide & Happiness @ Explosm.net

Kids: Adult schemes are easier!

2007-06-03T10:20:00.000-07:00

I was just wondering if you had any ideas to make easy Internet money for children. I have been searching, and all of the searches i have found either cost hundreds of dollars to start, or are free, and you cant actually download them.Please post or reply, or do something to help. And yes, I did consider a blog, but what to blog about?
Anonymous

Lot's of people have Anonymous for a name nowadays! Anyways:

There isn't anything!
The Internet isn't the safest place for kids. Anything an adult can do though, they can too. So if you want an Internet business, do the same thing adults do: Make a proxy, turnkey, or anything else like that, make a bunch, and stick ads on them. But blogs are still better.

Cyberchores

2007-05-27T12:05:00.000-07:00

Paris is offline this weekend so he has asked me to write a guest post for him. The topic? Allowances and cyberchores.

According to a Stars for Kidz, a U.S. research firm, almost half of kids 8 to 14 years old are doing cyberchores for their parents. Read the press release . Cyberchores include helping parents share photos online, help with emails, assist with online vacation planning, and downloading driving directions. The kids claim their parents are "clueless" online.

Hmmm.... cyberchores might be a good thing to add to your chores for getting an increase in your allowance. Or perhaps trade "taking out the garbage" for "help with the computer" on your current chore list.

As Neil Randall from the University of Waterloo says, "What child isn't willing to sacrifice taking out the garbage to help upload pictures?"

Drum roll please!

2007-05-21T18:41:00.000-07:00

The poll results are in.

Who is your favourite rich cartoon character?
The winner is.... No! Impossible! Uncle Scrooge didn't win! It's a tie!
Richie Rich - 16
Veronica Lodge - 8
Scrooge McDuck - 16
Other - 5

Would you rather play WoW or run a lemonade stand?
The winner is.... Ahem, pay attention, Mom - WoW!
Lemonade stand - 20
WoW - 28

Cottage vs. Mortgage - PPV Fight

2007-05-19T15:31:00.000-07:00

Earlier this morning, I was walking along the beach with my mom, and she told me, " There are two ways to get richer. Make more or desire less." Personally, I think it's actually easier to make more.
As we continued on our walk, Mom looked at lots of houses that she would have loved to own, but could not afford. So I set to work, thinking up different possibilities for each house or property we passed, thinking about how I could use the house and property to earn extra money, to help pay off a mortgage.

Something I noticed and had never really thought about before, was that lots of houses had little cottages that relatives would stay in when they visited. So what if you rented out your cottage? Lots of people will snatch up the chance to rent something at a low price (see example). But there are ways you can get around the "low rent or no rent" phase (I made that up, am I good or what?). A major thing that you could use for your advantage is that people will pay more if they're only staying there for short periods of time. An example is, you can fetch a room for a month for under 1,000 dollars if you rent per month, but if you stay in a hotel room for one night, it can easily cost 300 dollars. A third of the price, but a thirtieth of the time! So, instead of continuously renting out your cottage per month and only getting a little more than a thousand dollars, you can turn it into a B&B and make up to 150 dollars a day! But something more surprising: I did some research, and if you actually advertise the cottage instead of a B&B, you can make twice as much!
A cool perk that comes with the cottage package is that you'll able to brag to the Jones's about owning a cottage and a house! Don't let those Jones's push you around! Another perks towards owning a cottage on your property and renting it out is that you still only have to pay one mortgage! So you can make your regular payments, and then be able to add on the cottage's income and soon be mortgage free! Hopefully....

Can anyone tell me what the vida loca means?

2007-05-17T21:15:00.001-07:00

We were up in Whytecliff Park, so I snapped a picture of this house.

Mmm-mmm! Finger lickin' gooood!'

But it ain't NOTHING compared to this baby!

I give you... BILL GATE'S HOUSE!

A little bit of a motivational post, I must say. Imagine being able to build regular sized houses on your dock. Wait, let me look at that dock. Make that a neighbourhood.

It's Fishy in Here....

2007-05-17T17:13:00.000-07:00

A website called itsphishie also posted up on me. One thing that held my interest on their site was a comprehensive online money making guide they're currently building. Check it out! It's pretty helpful.

Pretty Ads

2007-05-17T16:30:00.000-07:00

Guess what? AdSense SUCKS! So, thanks to this guy, I've been increasing my skills at making money online. His blog is helping me earn money online. I found out about him after he asked me to do a review exchange for links, and I am now using his site. I know you'll all thank me soon enough for doing so, because I learnt a thing or two about advertising on my site!

I now will have prettier ads!

Maybe not as pretty as the fractals ad (checked his site out yet?), but definitely better than AdSense....
But please check this guy's website out, because it can be quite helpful.

Just Call Me Air Homer! I mean, genius Paris....

2007-05-16T14:12:00.000-07:00

CAVEAT: The following is illegal. Beware and do not take this post seriously!

I have come up with something you may, at first, think to be NOT ultimate, stupid, and utterly pointless. But you have no idea what my idea is.

ATTENTION ALL KIDS! YOU CAN EXECUTE THIS IDEA IN YOUR CLASSROOM, IT'S SO SIMPLE.

Let's say you want to be rich. How will you achieve this goal? I just thought up a business that costs nothing, needs nothing, makes EVERYTHING. All you need to do is ship me 300 dollars and I'll tell you. Hmm.... I'm sounding like one of my ads! Uh oh! Anyways, let's say you make this business.

Now what? You'll need some employees.

Let's say the cost to join this wonderful scheme is 100 dollars. Right there you have 200 dollars. The people who invested in the idea are allowed to recruit as many new people as they want.

Of course, there's a 25% service charge. So now for every recruit your recruits recruit (ugh) you get another 25 dollars. What happens when the chart looks something like this?

MUAHAHAHAHAHAHA! And there's you at the top, getting richer, and richer, and richer! If you recruit 2 people and they do the same, until it looks something like this, you'll have 800 dollars from recruiting a mere 2 people! Now imagine playing in the adult league, charging up to 1,000 dollars for recruiting rights. If this happened, you'd have an amazing 8,000 dollars!

So I ask you...

Ultimate? Yes.

Stupid? No.

Pointless? Absolutely.

Why be Rich?

2007-05-16T13:20:00.000-07:00

Lots of people ask themselves that very question: "Why should I be rich?" People think it takes too much time to make the money, or that they're happy the way they are.
Screw them.
This could change your decision about not wanting to be rich.

I giggle when I think that some day, this piece of heaven on Earth, this will be mine.

Still don't wanna be rich?

Power of vii

2007-05-16T07:32:00.000-07:00

Running your own blogging network can seriously pay off. Then again, lots of things can pay
off. But this way, you can become famous (in a sense), rich, and NOT HAVE TO DO A THING TO ACHIEVE IT!
Here's how it works:

Build the network homepage, then a blog template that links back to that homepage.
Get my friends to run a blog by themselves on my network.
Get 25 percent of their revenue, deducting from their 75 percent things like hosting fees.
Let the money roll in!

So, if you want to make some moolah, you should try doing this. It's a lot of work, but it can really pay off!
I have to admit, doing something like this can be a total waste of time if your network doesn't go anywhere. So I've decided to test it out myself. I'll keep you updated on how the network is doing and if it's actually been worth my while.

In the meantime, check out the first official site in the network, which will be shortly followed by good old FunnyMunny as soon as we work out some server kinks.

Top 5 Awesomest Blogs Ever - at least mine is :P

2007-05-15T18:07:00.000-07:00

I've been written up by Roberto Alamos as one of the top five best and youngest bloggers, adding to my list of write ups and interviews :) I'm up there in the ranks of Thilak Raj Rao, David Wilkinson, Carl Ocab and Jessica Mah. Fun.

eField Trip

2007-05-13T22:03:00.000-07:00

Because I've been working so hard on increasing traffic and working on our new network (the power of vii!) I decided I should do something else for a break. What better way is there to soothe a child's mind than a nice, relaxing field trip? Of course, it would have to be online because I need to work on my blog. I can run but I can't hide! Oh, well.
But where should I go today? Immerse myself in the childish humours (and discover blogging techniques) on The Sneeze? Perhaps, suite myself with some light reading on Punny Munny? I have a BETTER idea! Let's go to tsx.com and buy me some shares! So I set out, did some company research, and decided to go with a wind energy company called Fina Vera Renewables. Their stock was checked in at 45 cents a share, so I bought 300. (YOU do the math. I'm Warren Buffet, not Einstein!) They're slowly crawling up, and I'm hoping they'll jump soon, seeing as their president has been attending a fair number of conferences lately.
So, I'm rooting for you, FVR!

LET'S GO FINA! LET'S GO!
LET'S GO VERA! LET'S GO!

Here's the stock information, if you wanna purchase some or something. You know, give them a kick start....

PS - Sorry if I got the terminology wrong, I like to at least sound smart and confusing if I don't know the answer.

AdSense Ahoy!

2007-05-12T08:56:00.000-07:00

I am testing with a minisite called a turnkey site. It's basically a website that has a few things to do with something and a lot of ads, so it's like a library on one thing, except the resources are links and ads. It's a great and easy way to make money. They are very easy to make, seeing as some people can make up to 10 in an hour :)
Let's say your turnkey site is making a dollar a day. Not too shabby, eh? Now let's say you have a hundred of those. Bam! And the dirt is gone!

Well, I shut down my turnkey site. I found out it's illegal....

I Just Got Chowed!

2007-05-08T10:52:00.000-07:00

I really need to get a new category for all my make money online posts! Wow, I'm getting desperate to find new ways for inserting anchor texts! Anyways, here's John Chow's site review program thingy. He reviewed me so I'm returning the favour. Like it'll make a difference....
I personally find his site fascinating and helpful, not to mention fascinatingly helpful. It's all about making money online, not to mention having some interesting snippets about... erm... his life. Sorry, I was thinking about them and trying not to laugh. Anyways, he is in the top 50 Technorati blogs, and is 2nd for something, probably pretty cool but I can't remember right now.
So go and check his site out and make some money while on your computer instead of learning wonderfully fabulous life lessons about money on my wonderfully fabulous site. Seriously, check it out and make some money so you can buy... stuff.

Give to the Online Community

2007-05-06T18:39:00.000-07:00

I learned about these Alexis trains that are used to raise awareness about your favourite blogs. Carl over at carlocab.com put me on, so I wanted to spread some internet cheer! I added 3 sites I couldn't live without. Please, check them out, especially adults, because they are witty AND helpful at the same time! I try most of the time, but I can't ALWAYS do both!

If you want to be on the train and spread awareness about your blog and other favourites, here are the rules:

Put anything you like above this list – Chit Chat, talkies, introduce what this is. Something like that.
Move all the sites labeled “Newcomers” to the list labeled “Oldies”
Add 5 sites that you want to include in the train and make their link like this: http://redirect.alexa.com/redirect?www.example.com then invite them to join the train.
Visit all the listed sites! (That’s not much work! Remember, if you plant good seeds they will also grow good) and look at your high Alexa ranking next week!

Newcomers:
Earning by Learning
John Chow
Punny Munny
Oldies:
Wmhaven
Make Money Online 2.0
Nate Whitehill
Jozzua
Grow your Writing Business
CultureShiok
Gary Lee
Smart Wealthy Rich
TechZi
Make Money Online with a 13-year Old

RRSP time

2007-05-04T20:15:00.000-07:00

Hmm.... One of them lazy days. So the only thing I can do is work! But before I go do... ugh... manual labour, let me post.

Dear Munnybagz,
Can you talk about spousal RRSPs during 2007 if both people have room to contribute. And how it impacts on the husband's taxes and if it impacts the wife's at all.
Anonymous

First off, any money you put into a company RRSP is untaxed. You don't need a spousal RRSP if you're both maxing your company RRSP contributions. But other than that, any contributions are good. If only one person is contributing, that will not end up as enough!
Remember, any money that you can save is good. It's better to be able to double your RRSP contributions than have a latte every day. I'm kind of going off track here, but it's good to stress the point that you should always contribute if you can. But it's always better to max your company RRSP contributions first.

This response has been brought to you by Fractals by an 11 Year Old!

A Wise Man Once Said

2007-05-02T08:16:00.000-07:00

I have lots of advice,but sometimes I have really good advice, but I never actually use it. But I've decided to take action on a particularly good piece of advice, the mini sites. I know that this has nothing to do with money advice, but it would be great if you could send me some recipes that you wouldn't mind having published!

So, once again, fill my inbox!

With Ideas - From you, to me!

2007-05-01T15:42:00.000-07:00

I need help! I have lots of ideas to talk about, but I want to post about what YOU want me to post about. so PLEASE send me your questions or any ideas you want reviewed or anything you want me to talk about, so I know that I'm really helping you. Also it makes you refer me to your friends!

So fill my inbox!

Spending Itch

2007-04-30T20:57:00.000-07:00

I have the spending itch.

It's been a while since I felt that rush when you're pushing a wad of cash across the table and buying something expensive. It goes against everything I stand for.

But I'm gonna do it.

And it will feel GOOD! But I'll be crying at the same time. Here's my downfall.

LG Chocolate: 330 dollars.
Monthly rate: 20 dollars
The look on my dad's face when the clerk turns her head: Priceless.

I'm a Big Businessperson Now!

2007-04-27T07:46:00.000-07:00

Two of my friends co-own a site about... fractals. One of them who is more knowledgeable about them is 12, while the other, fluent in HTML, created the site when he was 11. Fractals are, like, complicated too. But this isn't about fractals. I was discussing with the 12-year-old about doing a business deal together, seeing as they have ads as well, so I threw an ad together and got Michael to put it on and link it. It's wonderful to have employees under your control! Anyways, I'm now earning money off of the ad. Their site has some kinks, I mean, some pixels, and it needs a lot. And they're not the best with ads, but who am I to talk?

Business deals with thirteen year old probloggers and 12 year old fractal and HTML guys, involving the site they made about fractals, which most adults don't half understand.

The times are a changing... Learn something new from a couple of 12 year olds! You've done it before with me, do it now for them.

Silly yet Sightful

2007-04-24T11:36:00.000-07:00

My friend asked me why she didn't have any money. At first i thought it was a silly question. But I realised that not everyone actually knows why they don't have any money. She spends only about $220 every year, but she was bringing in about $500 a year. But she has NO MONEY! Where has the money gone off to? (me, I wish) But obviously she's not completely aware of her spending habits. She started talking a little bit more about the little things she buys, and it quickly showed that she was a spend-a-lot.
What she should do is track everything she buys for a whole month, and see how much she really spends. That way it will show her what she's wasting and doesn't need to buy, and that can help her save money. Otherwise, she'll keep flushing money down the drain. Or the black hole in her wallet, which is where she thinks it goes.

Rave and Crave - Nothing to do with anything

2007-04-24T07:45:00.000-07:00

Hmm.... My mom disagreed with me!

I find it interesting that you give this money making idea a thumbs up, when you gave a lemonade stand a thumbs down. With regards to how much time you need to spend getting your WOW character to a level of being valuable, I bet you make less money per hour gaming than you do selling lemonade. It would be interesting to compare some REAL time vs money charts for both.

MOoOM!
Lets back it up here, Crazy Cat Lady! (mhmm, das riiiight!) Now, let me ask yall THIS. Would you rather be sitting outside, all that awesome lemonade in front of you and not being able to drink it, waiting for someone to feel sorry for you and buy some lemonade? (I REALLY don't like lemonade stands....) Or would you rather be inside playing some awesome video game inside and knowing that in the end you'll get some cool cash reward for goofing off and having fun? Am I right? All in favour say "I'ma go to that poll and say aye!" (which will be up tomorrow)

LFG TO READ POST WTS WoW ACC (WoWspeak)

2007-04-22T21:41:00.000-07:00

World of Warcraft is a very fun game. It can also be very profitable. Because lots of people, when they are done with WoW, sell their accounts. That account on eBay is selling for a whopping 500 dollars! I have seen accounts actually being sold for over 1,000 dollars.

!

Anyways, this can be a great opportunity to have fun while making money. Let's say it takes you a year to create your account to a selling level. That's probably about 160 dollars in buying the game and membership. And if you sell it, you can make a hefty, hefty, hefty sum for an RPG addicted kid like me.
If you want to read more on gaming for $$$, here's my old post on MMORPGs you just HAVE to cash in on.

PS: LFG TO READ POST WTS WoW ACC means 'looking for group to read post, wanting to sell World of Warcraft account' in WoW.

Uh Oh Alphagettio!

2007-04-21T18:09:00.000-07:00

I've been searching the web lately, trying to find some more in-depth blogs on certain aspects of helping kids (and adults) make money, and if you think you just might have one, please post on me or link to me on your site, contact me with your url, and I'll do a post about your site. I've been working hard to keep this wonderfully amazingly awesome (am I right?) blog alive, and I'm working with linking off to other sites, otherwise... well, who knows what horrors await?

Possibilites!

2007-04-21T17:54:00.000-07:00

Imagine how much your kids would love you if you got them their own Victorian mansion!

Here's to Another Review

2007-04-21T12:05:00.000-07:00

My saviour! After relentless months (weeks? days?) of trying to increase my website's awareness, or exposure, or increase traffic or whatever else you wanna call it, a website that is dedicated just to that! This site, also by a thirteen year old, shows you how to make money online, which is one great business idea I'm trying to talk about. And failing. So if any of you want to give blogging, mini sites, or whatever other online business ideas I've talked about, check this guy out! He has a fancy page design too! One post that I really enjoyed that will help me fix this website up is a nice, simple list. Heaven on Internet!

Tax Rebate and Debate

2007-04-21T07:42:00.000-07:00

Alright!It's time to use my powers for good once again! (Umm.... I sure hope I never started using them for evil) I know I'm supposed to be writing for kids but once in a while adults really need my help to. So all you kids wanting to make money, I'm warning you, step back as this could get confusing!

Dear Mr. Munnybagz,

I hate paying taxes. I have used up all my RSP room so that is not an option. Someone has told me about an investment called flow-through shares as a great way to reduce my income tax. I am not afraid of taking any risk but wanted to hear your thoughts on this type of investment.

Thanks,

Gloria

Well Gloria,

I have to admit that I just learned about these shares a little while ago, but I am doing some more research as I speak. The first thing that jumped out at me is that you can claim these on your tax refund and they will count 40 percent of what you spend on them towards your taxes. So if you invested $10,000 and sold for $10,000, you will have 40 percent go to taxes, but you get 20 percent of that back. I also believe that it has something to do with what tax bracket you are in, and the higher you are the bigger break you get. Unfortunately, these shares can only be bought in oil and mining. I would personally recommend oil for short term and mining for long term. Anyways, back to your question, Gloria. Yes, these do sound pretty good and I know I would buy them. Props on taking a stand for your money and also for maxing your RSP!

Munnybagz

Punny (bad pun alert!) Munny

2007-04-20T08:19:00.000-07:00

An English teacher asked her 8th grade class to write an essay on what they would do if they had a million dollars.
Larry handed in a blank sheet of paper.
"Larry!" yelled the teacher, "you've done absolutely nothing. Why?"

"Because if I had a million dollars, that's exactly what I would do!"

Thank you for the joke!

Con man Corner - Mini Sites

2007-04-19T19:21:00.000-07:00

An amazing piece of ingenuity.
A business review.
Here is one great idea that I have taken the liberty of researching and displaying in a simple yet shocking manner in front of your very eyes. These ideas presented in these reviews are so crafty and easy to do that it would just make you seem like a con men. Or con woman. So sit back, relax, and enjoy the latest episode of

Con man Corner

Mini Sites. They are revolutionary. I want one, no, 300 of them!

Starting costs: Around 50 dollars to nothing.
Monthly fees: Around 5 dollars to 30 dollars.
Monthly income: Anywhere from 0 to ???? (meaning a lot times a lot plus a lot)

Here's the sitch. it starts out as a normal website. You get your domain and hosted server, but when choosing the domain, look at things that people search a lot. For example, I believe last month the top search in Canada was "menu foods". We're weird, aren't we? Anyways, let's say you got a domain along the lines of http://www.freefoodformenus.com/ and you'll get a lot of hits right there. But of course you'll need content, and because it's menu food people want, by George you'll give it!. What you'll want to do is get someone who knows HTML (preffereably a friend, or hire someone) to make a database, or "box" you can hold stuff in to. These shouldn't take up too much space on the page, as it should scroll down. Now you should go searching the web for recipes and add these in to your database. Once you've got a large database, put on ads and never worry about adding anything again! If you want some extreme optimisation on the ads, get a site where you click "next" or something like that, so for every recipe you get more pageviews on ads.
Here are some GREAT examples. Here is one with a scroll box, and
here is one that really optimises ads.

Return of the Deep Pocketed Drawings

2007-04-19T18:22:00.000-07:00

Just thought I'd let all you FunnyMunny fans know how my poll was going. (I'm getting a poll thingy soon so it will be a lot easier to manage) As you can see, Scrooge, my personal favourite, is kicking everyone else's butt. Feel free to keep voting for your favourite rich kid.

Richie Rich: 3
Scrooge McDuck: 5
Veronica Lodge: 2

Let's Talk Books

2007-04-18T19:27:00.000-07:00

I've been asked to write a book on money for kids by a publishing agency, and was wondering what kind of things you guys would like to see. Drop me a line (comment) please!

Punny (bad pun alert!) Munny

2007-04-18T19:21:00.000-07:00

A restaurant boasted that there host was the strongest man around, and challenged anyone to a contest of strength.
The host would squeeze a lemon and if anyone else could squeeze another drop out of it, they won.
Contestant after contestant tried and lost until one day, a small scrawny man in a suit and glasses walked up and asked if he could try. He managed to squeeze out 6 more drops. The host was amazed. "How did you beat me!"

" I work for the IRS."

Review: The Automatic Millionaire

2007-04-17T08:10:00.000-07:00

The book that sparked the idea for my post, Financial Security in Autopilot, the one, the only, The Automatic Millionaire! Anyways, once you've completed that little checklist, read on!

The Automatic Millionaire
Rated: *****

This book had an amazingly powerful recipe for success that no one can fail at. For example, if you buy a latte every day, they could be costing you 2 MILLION dollars! Most of what the author, David Bach, has published is a best seller and he gets rave reviews from everything. Written in an easy to understand format and using lots of big numbers to hold your attention, David Bach has written about how saving just a few dollars a day you can retire to a nest egg worth millions, and he also explains that if you can't save that extra few dollars, where can you find the money. I've loaned it to a few of my friends and they love it, even if they can't do anything about it, because just learning about stuff like this is pretty cool. It is literally one of those books you can not put down, and some people have made life changing decisions before they finished the book! So run, don't walk (unless you sprained your ankle or something), to your nearest book store and get this book.

Well, why are you still here? Go get it!

Punny (bad pun alert!) Munny

2007-04-16T19:27:00.000-07:00

Every day after school, Jimmy would walk by his neighbour's house and the same group of teenagers would stop him and hold out a loonie and a toonie and let him pick between the two. Of course, Jimmy would always pick the loonie, the teenagers would laugh and then walk away.
The neighbour, who was always on his porch reading, couldn't help but notice this happen, and finally asked Jimmy why he always picked the loonie.
"Well, if I picked the toonie they would stop doing it, and I've saved up $50 so far!

Punny Munny

2007-04-16T18:11:00.000-07:00

This guy, Nick, wrote me up earlier, it's time to return the favour.
He writes this hilarious money blog, Punny Munny.
Here's a post I particularily enjoyed.
AHAHAHAHAHAHA!
I'll pee harder from laughing so hard, thank you very much.

Punny (bad pun alert!) Munny

2007-04-16T17:48:00.000-07:00

A man walks into a bank and asks for a $5,000 loan. He says it's for a business trip he's going on for a week. Of course the bank asks for equity, so he gives them is $97,000 Mercedes. They park it in their garage. He gets the loan and leaves.
A week later he returns, pays off the loan plus the $15 interest that's accumulated, gets his car and is about to leave when the bank manager runs up to him and says that while he was gone he found out he was a rich millionaire and wants to know why he needed a loan.
He says, "If you can find a place where I can park my car for $15 a week without being stolen, I'd like to know."

Printer Payday

2007-04-15T20:59:00.000-07:00

Here is a fun and easy way for kids to make money.
I'm in an advanced class, which means we have lots of major projects, meaning a heck of a lot of homework. But my friend, M*****w, has an AMAZING colour printer. And I mean, like, Kinkos kind of pictures.
Now, all the kids in my class want a good mark, and he realized they'd be willing to pay, so he now has this picture printing business. But that means I have to pay too....
But it shows that if you have a product and people want it, you can really cash in on it. I mean, he hardly has to do any work for the money!
I need a printer like that....

Dream Advice

2007-04-15T15:30:00.000-07:00

It's finally come. First giving financial advice just to friends and family, then people all over the world. I am now giving financial advice to people in my dreams. It makes me wonder what caused me to have this dream. Was it those camping hash browns?
Anyways, last night in my dream, I suddenly moved permanently to some place in the middle of nowhere. I moved with two of my friends into a tiny house (103 square feet) that was making very little money. They were a farming family, and the only place for them to grow crops was their front yard. Growing two different crops with ten plants each was not a very good way to make money. So I started telling them what they could do to make more money, and soon become a very big farming industry.
Maybe I'll visit them in my dream again and they'll be rich! And then THEY will visit ME and give me money! I'll keep dreaming....

Food Coupons

2007-04-15T15:25:00.000-07:00

Food coupons can be a waste of time. Except for hash browns. You can save money on them by buying camping hash browns that have been dehydrated. Michael and I tried them. They smelled like onion powder and despair.
Here goes.
Michael took about two spoonfuls before he stopped. I was hungry, so I ate maybe half the plate before I really stopped and tasted it. We threw the rest out.
Back to food coupons.

This is Why I'm Rich

2007-04-09T19:59:00.000-07:00

I wrote a parody to This is Why I'm Hot, about money. Check it out!

[Chorus:]
This is why I'm rich [2x]
This is why [2x]
This is why I'm rich
This is why I'm rich [2x]
This is why [2x]
This is why I'm rich
I'm rich cuz I'm fee
You aint cuz you glitch
This is why [2x]
This is why I'm rich [2x]

[Verse 1:]This is why I'm rich
I don’t gotta pay
I can make a mill by playing golf for a day
I got a million homes
I represent AE
And they say that I rush it
Cuz I’m only thirteen
I luv da Dirty money
Cuz people show respect
They flock to the man
Cuz money can infect
But in the place Dubai
Dey luv to play it big
So when I hit da Hotel
My bill has 5 figs
And if you need a loan
I’ll take an I.O.U
Watch out for my thugs
They’ll break a leg or two
I’m pals with mista Trump
He treats me with a meal
Then I ditch the the Donald
Cause his hair don’t got appeal
People say dat I'm fee
Dey like da way I play
(Dey like my) my attitude with money moves those crowds from you to me
Dey ask me how I do it and simply I repeat
[Chorus:]
[Verse 2:]
This is why I'm rich
Catch me on my show
Every otha day
Another broke with no hope
24 carat gold, in 16 different molds
in the fast lane, come on it’s your turn to roll
I'm in there with ma Porsche
smash em just for fun
I'm into buyin companies so my business can run
If you need a lift, sit in the back
my cars nicer than solid gold piled in a stack
I call ma broker put
a million on the stock
Pretty soon I sell and I can buy another block
We into big clubs
See my money go a ways
Find me wit different stuff all with cash for which I pays
You wanna be friend don’t like me for ma green
Acquaintances aint seen you’re a best friend no in between
I keep it so gleam my wallet neva seen
It’s all on the house and by that dis is what I mean
[Chorus:]
[Verse 3:]
This is why I'm rich
Gates is just a schitz
Ask me wat I paid and it’s more than you can hitch
And den you hit my cash,
that makes you a witch
So you come in here to green it up then you are just a snitch!
Dey hop in my Targa
I give em my veneers
We hit da office bulding taller than the one for Sears
I gave you advice and you did me good
I hire you for fun then buy you your own neighbourhood
If I try to teach you then just say you understood
Dey luv da way da house be hangin from the cliff
And compliments da yard which compliments da money
den to shut em up I tell em all bout Roy G Biv
So when I hit da room da clubbas stop and stare
Den I have to leave because money can’t fix ma hair
Little do dey know
I ain’t really their friend
I’m a good samaritan
I just pay for their bill and that’s the end
[Chorus:]

Review the Second: Rich Dad Poor Dad

2007-04-04T15:28:00.000-07:00

I own TWO COPIES! This book is possibly one of the most powerful financial help books ever written. A number one New York Times bestseller, Rich Dad Poor Dad, by Robert Kiyosaki and co-written by Sharon Lechter, had me engrossed all the way to the end, then made me read the sequel, Cashflow, then made me get all of his guides on money he’s ever written.

Rich Dad Poor Dad
Review:*****

This book is at first written in story mode, showing Rob's childhood involvement in money. First alerted to the power of money when they are not invited to a party because they were “Poor Kids” (that took a long time!), Robert and his best friend Mike have a lust for making money. They finally get their big idea! Casting their own nickels! No dice. So they seek Mike’s dad, who is on the verge of being rich, for financial help. He decides to hire them for 10 cents an hour for three hours a week. Pretty soon Robert gets fed up and asks for a change in pay. And change he gets. He is offered something he can’t, or rather, is not allowed to refuse. He is now getting paid nothing. But Mike and Robert incorporate their genius ideas and make lots of money anyways. After these exciting and humorous first few chapters, he starts talking about different ways of how to make the most of your working years such as, starting businesses, or minding your own business, as he calls it, how to escape the horrors of taxes (unfortunately, only legal ways were included) and most importantly, not working for money and making money work for you.

This was a quick read, but it was packed with knowledge and ideas, so with the thinking you have to do it takes quite a while to get through. A major thing that really caught my interest and held it was all of the schemes they think up. For example, they ran a comic book library and charged an entrance fee. They even had a bouncer! (Mike's little sister....) I couldn't follow through with the advice it gave because I don’t have a job or enough money to start up the businesses he was talking about! I would rate this book a 5/5. Because... well... It's good!

The House Who Bought Itself

2007-03-27T12:44:00.001-07:00

Let me tell you a story about the house who bought itself. One day a boy named Paris (I'm the star of the story!) realized that he wanted to buy a house. But he was only 23! (I took an aging potion) He could not afford to make continuous payments to his mortgage, but following his own advice, had about 50,000 dollars saved up. So he went around looking for a nice house. He found the perfect one, and it cost 500,000 dollars. He quickly got a mortgage and payed his 50,000 dollar down-payment. But now he needed a way to pay the mortgage. He didn't feel the need to move out of his parent's house just yet (although they wanted him to) so he decided to rent the house out and stay with his parents. He put all the rent payments towards the mortgage, and pretty soon, he had a 500,000 dollar house that only cost him 50,000 dollars!
The end!
I have this dream to buy a house before I'm 17, but I need a way to do it. I know that I can't pay for the full house all at once, and paying off a mortgage is out of the question, so I devised this plan to help me do it. If you can't come up with the 10 percent down-payment, see if you can borrow from an angel investor (someone who will loan you money at little or no interest, usually family) and if you have a dream like that while you are young, you can ask a parent to buy the house for you.
Another similar plan like this is, if you already own a house and are paying that mortgage, you can get a second mortgage on a condo or another house and use that as a rental property.
So if one of these plans can work for you, you're well on your way to being on your way to being financially independent!

Post Number 50! Review Number 1!

2007-03-18T09:11:00.000-07:00

There is only so much I can teach you guys because, although it's a sad thing to say, my knowledge is infinite. Whoops! I mean limited... So I have decided to add a new feature to my site. Whenever I do something that can really help you or me get financial knowledge, I will get my butt on this chair and type out a review. That way you can see what books are good and which ones are bad. There will be a lot of reviews because I read a lot of books... What else am I supposed to do in my pleasure time? Play sports? Pfft... But you can read other blogs about people who hate sports, but this is the one you came for to read this review so let's get it on!

CashFlow 101- The game
Rated: *****

CashFlow, the amazing board game by Robert T. Kiyosaki, award-winning best-selling author of the Rich Dad Poor Dad books, is designed to help people understand the power of paying off your debt and gaining passive income, or income you do not have to work for. (assets, etc.) You start off with a randomly chosen job, with varied income and expenses, and debt. You are in the rat race, meaning you have to work in order to live. Your goal is to increase your passive income to higher than your expenses and get out of the rat race. To do so, you have to decrease your expenses by paying off bills and increase your money-generating businesses.
I found this game to be both great fun and entertainment at the same time. For the first half of the game, I was extremely captivated and the game held consistent twists and turns to keep you locked in for the entire part. But once I got to the second half, it turned less exciting because the game took longer to do less. The problem is, playing the second and first half took too long, but playing the first half was too short. But all in all, this was a great game.
Go out and buy this amazing (expensive!) game. If you enjoy it, get the kids version and also CashFlow 202. (This guy works fast!)

Financial Success in Autopilot

2007-03-13T20:53:00.000-07:00

Are you living paycheck to paycheck? Is there never enough money "left over" to pay yourself after bills and other living expenses? I'm sure you've heard the term "pay yourself first" before, but lots of you must be wondering, "How? There's barely enough money for me to get by in life, let alone put aside for my future!" Well, there IS a way. You have just proved that you spend all your money. But you have also shown that you can't spend what you don't have. So what if you were, right before you even RECEIVED your paycheck, to take money out of it and put it in an RRSP or another future savings investment. Most companies offer automatic payroll deduction, and the best part is the money you put in it doesn't get taxed! You can also use automatic payroll deduction to save for a "rainy day" or even pay off your mortgage!
Again, you're all saying, "Where am I supposed to come up with this money? Won't it affect my current style of living?" That's the beauty. Let's take this true story for example. Someone named Kim was saying exactly that, so the man who came up with this beautiful thing called the "Latte FactorTM" named David Bach asked her to walk through the day and quickly discovered that every morning she would buy a latte and a muffin for $5.00. He explained to her that if she stopped doing that and saved the $5.00 a day she was going through right there, she could retire with that money! To find the money, you have to first discover YOUR Latte FactorTM. It's usually something you buy every day that is a WANT instead of a NEED. For example, if you stop of at Starbucks and buy a latte every day (Not that there's anything wrong with Starbucks, I personally find their Chai Lattes DELICIOUS!) or you buy a pack of smokes every day. (Now, there is EVERYTHING wrong with smoking!)
If you want more information regarding automating your savings efforts and the Latte Factor(tm), please read his amazing and eye-opening book, the Automatic Millionaire.

F.F - F.F.F.A.F! - A Close Shave

2007-03-06T18:26:00.000-08:00

Part Three in a Series: Free Fundraisers - Fun for Friends and Family!

Here is one that will make teachers cringe and students grin... ge... (now that is pure poetry!) Anyways, do any of your teachers feel like encountering a close shave? Here is an idea that will blow your minds! (literally...) All you have to do is put up a sign-up sheet in your school's staff room and book your school gym for a lunch-period. It's that easy. So here's the catch - You have to find teachers who would be willing to shave their heads!
It's awe-inspiring!
Anyways, what you will be doing is charging kids to get to see teachers have their hair shaved off! You can charge about a dollars for admission, and more if lots of teachers are getting their heads shaved. Try to get long-haired teachers to volunteer, and if you want a crowd-bringer, see if you can get your principal in!
This is a sure-fire way to raise a lot of money for no cost at all! And, it will please the masses. You would even be able to sell tickets to parents if you want to make it a bigger event. You'll be able to do this every year, or however often their hair grows back!

Really Rad Savings oPportunity

2007-03-01T17:34:00.000-08:00

That title was hard to come up with... HAHAHA! I'm sooo funny! But anyways, it's time for RRSPs! Some of you may have been listening to Cfun 1410 when I made the absolutely horrible mistake of saying it's bad to borrow for your RRSPs. Well, it's not always! I just assumed that, where there is debt, there is bad interest...
But not for RRSPs! As many of you may know, the government doesn't tax savings you put into a RRSPs, unlike all other loans. So because of this, you make more money. And also, interest rates on RRSP loans are one of the cheapest forms of loans, so what you make off of putting money into an RRSP can totally defeat what you are paying for it! So in this way, you can make a lot of money, without making a cent! But remember, in the end you have to pay off that debt anyways. So even though that loan can indeed become an asset, it is a liability at the same time.
RRSPs are important to contribute to in any way you can because it's such an important retirement tool. So while it's good to borrow for an RRSP donation, it's even better to not only borrow, but use your own money as well! Because you know what they say. A lot is better than nothing!

Invest in a Rainy Day!

2007-02-25T19:46:00.000-08:00

What happens when it rains? People stay inside and go stir crazy! But not when you have something to do! This is why you should always have a rainy day pot. That way, you can go see a movie, or go to a show or something, instead of lying around with the heater turned up. Just make sure you don't save your umbrella-money... Some of you adults out there might not think that this is applicable, but there is a different meaning to saving for a rainy day. What would happen if you got laid off? Where would the money come from if you didn't have a job? You would need to have saved it before-hand. This kind of rainy day saving should allow you to live normally for at least 6 months. That's one long rainy day! But that kind of rainy day savings could be applicable to anything, also known as an "emergency fund". That kind of fund would cover small emergencies like a broken arm, but it's good to have larger funds, like if your roof blows off in that 6-month-long rainy day!

Quick! Catch Something Bad!

2007-02-23T20:50:00.000-08:00

Dear devoted readers,
Here is my second question related to insurance. You may have noticed it will take longer to read, but bear with me. It could really help out those of you who might get serious illnesses, but not serious enough to be restrained from using the computer.

Dear Munnybagz
What are your thoughts on critical illness insurance? I'm pondering whether or not to buy some, having witnessed friends and families go through serious illnesses that have drastically altered their finances. Sure, I have enough $$ in my RRSPs that I could liquidate if I needed extra $$ in case of a serious illness, but I wonder if it's worth $50 a month for a specific insurance plan that would pay out a lump sum ($50,000) upon diagnosis of a serious illness rather than touching my nest egg.
Leanne

Well, Leanne, what harm could 50 dollars a month do? Maybe you won't get to see that movie in the theaters, but you can just rent it. If you go to the movies with a friend and you pay for both of you (not recommended), it could cost just as much as a month's worth of illness insurance! So basically, you would have to go 84 years before you've paid more than full coverage would get you. That should give you plenty of time to catch illnesses...
But anyways, insurances in general normally don't take too much away from your lifestyle, so they're definitely worth it even if you only get coverage one time in your life. Because, like they say, it's better to be safe than sorry. If you don't have insurance and your house gets burnt down, you still have to pay the mortgage for nothing! And 50 dollars for that much peace of mind? That's better than the insurance!
Until next time,
Munnybagz

I Am a Millionaire!

2007-02-19T21:40:00.000-08:00

I have 7,275,382 dollars! I am sooooo rich! But unfortunately, that's only in a Zambian Kwacha. In Canadian dollars that would be 2,000... But who wants to be able to say they have millions of dollars! EVERYONE! So check out this Currency Calculator and see how much money you can muster! Here is a link!
Just Click Here!
Become a millionaire at the click of a button ( you have to click it a few times though) and impress your friends with some amazing moniness!

Frugal vs Friendship Necklaces

2007-02-16T16:55:00.000-08:00

Sorry I have not been able to post lately. I have been on the verge of death ( just kidding) and could not lift the laptop without needing to lie down, but I am feeling better now. So without further ado, I will type the rest!

Dear Mr. Munnybagz,
My wife and I have always talked about money with our two kids. Our son, 13, is quite good at managing his money. He chooses to bank everything he gets. Our 10-year-old daughter, however, tends to spend whatever she has on things like extra milk, pencil grips, and friendship necklaces. Do you have any tips for us? How can we teach our daughter to be more frugal?
Sincere regards,
A Concerned Father

Dear A.C.F,
How many pencil grips does one need? Anyways, this is a very easy problem to solve. If she's going to continue to waste money like that, you can put her allowance somewhere safe so she can't spend it. And explain to her that if she continues to spend money like that, she'll have tough times later in life. Also, give her more milk at dinner so she's not as thirsty... And one final piece of advice: if she really wants to buy those things, let her. After all, she's only 10. Not many kids have any money sense at all at that age. So she will learn when the time is right.
So until next time, wait until next time!
Munnybagz

Guest Post: Credit Card Report Card

2007-02-15T19:33:00.000-08:00

Hi. Munnybagz has been really sick for the last two days and he is sorry he has not been able to update his blog. He asked me to add a post for him. Seeing as how he was asked about credit cards on his radio interview with 1410 CFUN, I thought I would blog about credit cards.

Just like you need a good report card history to get into university, you need a good credit card history to be able to get money loans from the bank. But the only way to get a good "credit rating," as it is called, is to borrow money. So how do you borrow money without having a good credit history that lets you borrow money? You get a credit card.

Credit cards are given to students who don't have any history of having credit. These cards often have low limits. For example, someone who has over 10 years of a good credit rating may be able to have credit cards with $10,000 limits AND be able to get a $200,000 mortgage AND be able to get a $15,000 car loan... all at the same time. A student might only be able to get a credit card with a $2,000 spending limit on it.

Once you get a credit card, use it wisely, and pay it off every month, you will start to develop a good credit rating. Then the bank will know you are safe to lend more money or credit too. Eventually, your credit card limit will increase and you will be able to qualify for other loans, like a mortgage, a car loan, or a business loan. If you don't ever start your credit history the bank won't lend you the money when you are ready to buy your first home - just like the university won't let you in if you don't have your high school report cards.

BUT credit cards have very high interest rates and can end up costing a lot of extra money and stress if not used properly. Never put more on your credit card than you can pay off when the bill comes. You don't want a D- on your credit card report card. For more on Credit Cards from Munnybagz see Hey Kids - Do You Still Want a Credit Card?

F.F - F.F.F.A.F! - The Good Samaritan Salesperson!

2007-02-11T19:21:00.000-08:00

Part Two in a Series: Free Fundraisers - Fun for Friends and Family!

We're back in action with F.F-F.F.F.A.F! This episode will not only be easy and profitable for charity, you... I can't think of a witty pun to put here... What I mean by helping out charities by being a salesperson is that you can sell products for someone else while helping out charity. The one thing you'll need? Someone you know who enjoys making crafts. Let's take what I did last summer for example. My mom's friend likes to make those really fancy cards with stamps and pop-outs and stuff, and then she sells them at a craft fair. But there was going to be a fair at a nearby park, and she heard I was selling pens at a table there, ( F.F - F.F.F.A.F! - Pennies for Pens!) so she asked me to sell her cards for her. 40 percent of the money I made went back to her, and 50 percent went to charity. The other ten percent? I gotta make a living somehow! But anyways, within a few hours, I had made 35 dollars for charity! As you can see, it's very easy if you have the connections. The best part about selling cards as your item is that people tend to buy lots of cards at once. If you don't know anyone who makes cards, there's always other things you can sell. And, like I said previously, always announce that most of the money goes to charity and that you are a volunteer.
So until next time, wait until next time!

F.F - F.F.F.A.F! - Pennies for Pens!

2007-02-08T16:01:00.000-08:00

Part One in a Series: Free Fundraisers - Fun For Friends and Family!

If you know any white-collar workers (people who work in offices), ask them to take a box to their work, and put a sign on it saying, "Help our fund raiser for (your cause here)! Donate your pens!" Once you have quite a few pens, go to a big event (school fairs, Canada day fairs, anything), and ask if you can set up your pen sale on one of the tables. If you get accepted, put a sign with your pens. Make sure it's clear that ALL of the proceeds go to charity. Another great place to sell your pens to would be your classroom. People ALWAYS need pens or pencils there. Or even set up a stand during recess or lunch and make an announcement over the P.A. system announcing your sale. A good charity to send your pen money to would be a charity that supplies third-world countries with school supplies. For example, Red Cross, Unicef, World Vision, Save the Children Fund, etc. etc.

Stay tuned next week (or maybe tomorrow) for the next edition of F.F - F.F.F.A.F!

Free Fundraisers - Fun For Friends And Family!

2007-02-08T15:49:00.000-08:00

It's always good when kids make money, like I've said before, to give back some of what you make. But it's even better to fund raise for a cause. That way, other people will be willing to donate to your charity through you. But sometimes you might have to deduct hundreds, or even thousands, of dollars from the money you raised to pay for starting cost! To prevent that from happening, here are some great fund raising ideas that don't cost a cent! Because each idea takes me so long to explain, I'm going to have multiples posts.

Kids Can Do It Too!

2007-02-07T13:34:00.000-08:00

Did you know that people normally don't pay off their mortgages until they're almost retired? Eww! So what if you started earlier? Like, when you're a kid! I'm already saving for my first house, and have been for a few years! It's easier than you think...
Here are some steps to take to help you achieve a house by the time you're 15! (maybe later...)

Save at least 50 percent of what you earn! You really don't need that newest skateboard if your old one is a month old. Toys can usually wait until birthdays and christmas.
Babysit! Don't have enough time? Take your homework with you and do it while you babysit. Make sure you charge appropriate rates to keep the customers coming back!
Once you turn 14 and are legally able to get a job, do it! You don't really need 2 months to relax. Put all of that money towards your Big Purchase and use your allowance to spend.
In the end, if you can't afford to buy a house, then co-buy one with someone else. That way, it'll be a lot easier to pay off the house faster, but you'll still be a proud owner!

There you have it. Some people earn-to-own a house, and have it by the time they're 17! Just try really hard, save a lot, spend little, and you'll be an owner before your parents!

Finally - A Question has Come on Insurance!

2007-02-06T08:22:00.000-08:00

Well, after quite a long delay I have received a question. So now... I write!

Dear Munnybagz,
My partner and I both work and we own a house. Since we are both well off, do we need life insurance? I just think it would be a waste of money.
Please respond!
Insurancely Challenged...

Dear Challenged,
Yes! Let's say one of you did indeed die. Sure, you would be able to survive off of what you make, but you wouldn't be able to pay for your mortgage all by yourself. All the things that took a joint effort to pay off like a car, a house, bills, all that taken out of one salary really hurts, and you wouldn't be able to maintain your standard of living. So let's say one of you got life insurance. But the other person died. Then you would still get nothing, plus you would have wasted money on insurance. So the best thing to do is get one life insurance plan that you can both put into, and it would cover both of you. That's the best way to ensure a painless-after-death situation.
Munnybagz

P.S. I need more questions, because I can't write as much if I only can talk about non question-answering things...

Mortgage Magic II

2007-02-01T09:07:00.000-08:00

We were asked yet another question about mortgages that I'm sure would really help anyone who knew the answers. Now let's get ready to rumble!

Dear Munnybagz,
I was just wondering if you could tell me how to negotiate a better mortgage, because I am sick of always having to pay off interest instead of the base mortgage. Please help me!
Mad at Mortgage

Dear Mad,
Although you may hate your mortgage rate, you have to realize that mortgages have the lowest interest in comparison to all the other loans. But there are a few tricks and tips that can help you get the best deals.

hunt around for mortgages at different banks or go to websites that compare mortgages.(such as mortgageshark.com)
when you're talking to a bank about a mortgage and you're not sure whether or not you're getting the best rate, ask them what they're best rate is, because you found a bank that gives a very good mortgage rate.
remember, banks always make money off your mortgage, no matter how little they charge. But the higher mortgage rate, the more they make, so if you tell them that another bank has 4.5 %, they will try to go better than that to get your business.

That should help you a little bit, Mad, and anyone else who wants a better rate. Stay tuned for our next episode, and send in your questions!

Munnybagz

Anonymous Strikes Again!

2007-01-30T20:11:00.000-08:00

We're back in the action with another question, this on also asked by the so called "anonymous". Whether or not it's the same one, we have not yet found out.

Dear Munnybagz,
I have a question I have been trying to get an answer to with no success. Does it make sense to pay down my mortgage by making extra payments if I plan to sell the house in 5 years or less? I hope you can help.
Thanks,
Anonymous

Dear Anonymous,
Short answer no with an if, long answer yes with a but. Short answer first. You seriously should not pay extra on your mortgage if you have other higher interest debts. That would cost you more money than paying off your other debts. The long answer is yes. As long as you have extra money to put into a debt, and you are on track with all other debts, always pay off as much as you can. Because if you pay off your mortgage payments, thus getting rid of the interest, whatever you put into your mortgage goes directly into the debt, not interest. That way, (if you've read my How to Pay a Mortgage post, you'll know*) if you can pay an entire years worth of mortgage payments when you don't have to, you just cut a year off your mortgage. Even if you have only 5 years or one year left in the house, you'll get more money once you sell it and finish the mortgage up. Hope this answers your question.
Munnybagz

*Turn 8,000 Dollars into 20,000 Dollars!

The Talk Show Continues!

2007-01-29T16:26:00.000-08:00

We have received a comment since our last show, regarding our last show! Let's answer Anonymous' question, shall we?

Anonymous:
Hey, I was just wondering how this method would work, When you are that far in debt (150,000) the bank usually does not allow you to take out a loan, let alone a second mortgage, Please answer my question!

Good question, anonymous! However, banks will allow you to take out a second mortgage. I do realize that they would question that you already have a mortgage along with your debt. In this case, you can show them your scenario being this:
Your house is worth 500,000 dollars, but your mortgage is still 200,000 dollars. Therefore, after selling your house and repaying your mortgage and your bad debt*, you still have 150,000 dollars in equity. So let's say you want to buy a house costing 400,000 dollars. If you get the mortgage and manage to pay off 50,000 dollars of it with rent before the tenants leave and none want to rent, you have two choices. Sell your first house, get rid of all your other debts and continue to pay your mortgage with your remaining 150,000, or sell your second house, (probably worth about 500,000 dollars by now) and pay off your second mortgage (350,000 dollars) along with your bad debt. That way you only have your mortgage to worry about!
That hopefully should answer your question, Anonymous. To sum it up, figure out a good scenario to present to the bank, along with proving you have equity, just in case.
Munnybagz

*Bad debt is when you borrowed to buy something that deteriorates in value, like a car, or fancy dinners, anything like that. Good debt is when you borrow to buy something that will increase in value, such as your home.

Aaaaaaand... We're Back on Air!

2007-01-28T16:00:00.000-08:00

Sorry about the delay, folks but we were having some technical difficulties. Let's get back to the show!
Caller 1, you're on the air!

Ya, hi, I'm over 150,000 in debt, not including my mortgage. I'm fearing that I'll have to give up my lifestyle and everything I own. Is there anything I can do?

Well, I do have one piece of very good advice, find a really tall building... No, I'm just kidding! but seriously, the one thing you can do to take evasive action on that kind of debt is to, hold your applause, go further into debt! Ya, as crazy as it sounds, if you go another 300,000 dollars in debt and buy a condo, you can rent it out and slowly pay of that debt, plus the mortgage with the rent. And once you're almost out of your financial rut, you can sell the condo for a profit and be completely debt free! But you'd have to show the loaner that you have a solid plan to repay both debts. But if you're looking for something more immediate, the only thing there is to do is work harder, spend less, or take the easy way out by borrowing money from someone that trusts you for no interest, then pay them off without worrying about growing debt from interest.
That's all the time we have today, but send in your problems and/or questions to munnybagz@yahoo.ca and we'll answer them tomorrow! (unless i don't get any questions to write about)

My Mortgage Magic - Make the Money Appear Again!

2007-01-23T19:29:00.000-08:00

No, no, this is not about how to get a rebate on your mortgage, but it is a clever little trick that really brings in the statement, " pay yourself first!". Well, what I've figured is that after 20 years, people are quite used to paying maybe 1,000 dollars a month on their mortgage. So what if they continued to do that into a savings account? That's an extra 12,000 dollars a year you're saving! So lets say that once you've paid off your mortgage, you were looking forward to opening up a little more cash flow. So let's say you only paid 10,000 dollars a year. If you continue to do this for 10 years, at a 10 percent return rate, here's what you would end up with.
The numbers, in order, are: year, annual investment, earnings and ending balance.
1 $10,000 $1,000 $11,000
2 $10,000 $2,100 $23,100
3 $10,000 $3,310 $36,410
4 $10,000 $4641 $51,051
5 $10,000 $6,105 $67,156
6 $10,000 $7,716 $84,872
7 $10,000 $9,487 $104,359
8 $10,000 $11,436 $125,795
9 $10,000 $13,579 $149,374
10$10,000 $15,937 $175,312

I could go on like this for I don't know how long, but I'm bored of making a chart with tabs and spaces, so I'll do it some other time. So there's the amazing ways of paying for a second mortgage without having a second home!

Lemonade Stand? Sour and Bland!

2007-01-20T19:10:00.000-08:00

Never, ever, ever, set up a lemonade stand. It is a waste of time, and takes way too much effort. That is it, simply put, but here are some numbers to support my theory. Let’s say the day before I set up the stand, I go shopping for half an hour. The next day it takes me half an hour to set up the stand. For this part, I will use a record of one of my actual stands that I set up.

So far I’ve already spent an hour working on it, and I’ve spent 8 dollars and 35 cents on supplies. Then I sit there for 7 hours and I only make 14 dollars and 50 cents. Minus my expenses and charity, I earn an amazing 3 dollars and 15 cents! Instead of going through all that trouble, I could have just washed my mom’s car and made 5 bucks in half an hour! That’s making over 10 times what I was per hour on the lemonade stand!

So if you really want money, make sure you check all options such as raking, mowing, washing cars or absolutely anything before you open up a lemonade stand. I can make that much money in 10 minutes by rubbing my mom’s back!

How to Make a Killing off of a Blog!

2007-01-19T19:12:00.000-08:00

A big reason that I started my blog is because my mom told me that people make revenue off of them. I still wasn’t sure about it, but then she said that some people actually live off of the revenue they’re making! Not to mention compiling their articles into books and who knows what that can lead to! It's a great way for kids to make money.

So you see, making a blog may seem hard, but it’s really not, and for the revenue you might be making off of it will make it all worthwhile. Let’s take me for example: I write for an average of 20 minutes a day, and I’m just about ready to put up ads. And by the end of the year? Who knows? Anyways, let’s say you’ve been going for a month and you’re getting 400 hits a day (by the way, you need 4000 impressions to get 1 dollar). And let’s say you have 6 ads, and every person who visits your site goes to 10 different sections. So that means that, since there’s a new 6ads per page, everyones is viewing 60 ads, or getting 60 impressions for you. So you’re getting 24,000 impressions a day, so you’re making 6 dollars a day! Every month you’ll be getting 180 dollars, just for this hobby!

That means that every year you get 2160 dollars! 3 and a half times more than what I get for an allowance, and much less work! And if you want me to get technical, saving that for ten years will get you a down payment on a house, not bad if you start when your 12. That saves a lot of savings, not to mention once you get more popular, say 4,000 hits a day, ’ be making 60 dollars a day, and will be able to live of your blog, albeit crappily!

Good news!

2007-01-18T19:17:00.000-08:00

If you go to www.funnymunny.ca it will now take you to my website! Three cheers! And even better (for me, at least) is that I can now put ads on, thus earning revenue and allowing me to focus more on writing posts instead of actually labouring to make money! This leads nicely into today’s post: How to Make a Killing off a Blog!

And the other great news is I got my 12 dollar a week raise!

I Regret...

2007-01-17T19:18:00.000-08:00

I’m just too tired to write a FunnyMunny post today, I’m sorry guys but tomorrow will be extra special!

How To Monopolize in Monopoly!

2007-01-16T19:19:00.000-08:00

Monopoly is a classic board game, but most people misunderstand it. Lots of people think that whoever buys every single property they land on wins, which is the exact opposite of the game. You have to be a careful buyer, and never waste your money on the properties on the first two sides of the board. Those nearly never pay off. Start off with the higher properties, and work your way down to the bad ones.

Another huge thing to do is to build hotels. You can’t pay off a property without a hotel. (well you can but it’s hard) For example, if you buy boardwalk and park place and buy a hotel for boardwalk, if someone lands on it, you’ve paid off everything. If you have 2 of the three deeds for one colour, buy the other one and build houses or hotels. It’s much more worth it.

And if you can, buy all the deeds on one side of the board and put hotels on all of them. There’s no way your opponent can bypass a death trap like that! And don’t be afraid to offer big for properties you need as long as you know it would do you good. A tricky way to offer for a deed is to take two of the worst deeds you own and say, ” I’ll trade you some money and TWO PROPERTIES for that!” And avoid showing them which ones they are specificly if you can.

But remember: never not spend money. You may have more money in the start, but we’ll see who is laughing when I have hotels on all my properties and you have to pay an average of 500 dollars a turn! Probably more…

The Toons go Head-to-Head in Fight for Best Rich Comic Character!

2007-01-15T19:20:00.000-08:00

Welcome, ladies and gentlemen, to the annual Rich Person’s Awards! Tonight we have three candidates from four different comics, all going for the award of most loved rich cartoon character! Here they are folks!

Give a round of applause to candidate number one, the star of Richie Rich Comics, Richie Rich! His family has their own police force, they’re so rich! Not to mention a money dam, almost having their own subway system, and relatives that are all rich! Proclaimed to be the richest kid in the world, Richie Rich is guessed to be a zillionaire!

Our second contestant, and possibly the most well known, Veronica Lodge! Not the richest person in the world, however, but possibly the most spoiled and flashy. As one of the star characters in the Archie Digests, she has her own spa which she uses every day, and has caviar as a midnight snack! Her father, Hiram Lodge, is possibly one of the most serious and old-fashioned fathers there is, but is a pushover when it comes to his daughter, leaving Veronica with anything she could ever want.

Now for our third contestant, with no doubt being the richest duck in the world, Scrooge McDuck! The Scrooge comics are a huge hit, as every episode he obtains a new fortune. Having beaten his arch rival, who obtains money in ill-gotten ways, in a most-money contest by a single dime, Scrooge McDuck shows that he is a force to be reckoned with when it comes to protecting his money. Starting out as a prospector, he has earned every penny he owns. Now, audience, we leave it up to you to decide who the best rich cartoon character is!

Please post your vote!
Veronica Lodge: 3
Scrooge McDuck: 5
Richie Rich: 2

Getting Your Business out of the Suburbs and You Into a Mansion

2007-01-14T19:22:00.000-08:00

Do you know how many restaurants there are in Vancouver? Or how many restaurants there are that have food that tastes just the same as the Mongolie Grill’s? (I didn’t bother to count, but we’re pretty sure there’s at least 5) So what keeps the customers coming back? Even the fact that it’s a buffet style, cooked-on-a-hunk-of-metal style meal, lots of places do that. But there is one thing they have that others don’t. If you guess how much your meal costs, you get it for free. (I was once a penny off, so i got half price) This is what is called a gimmick. It makes people compelled to go to certain restaurants because they’re so unique. Another example is the “Come here a certain number of times and buy something and you get something free” gimmick. Or something I personally enjoy, those Safeway Bingo ™ cards they give you after you buy groceries there. But anyways, back to the point.

If your business is failing due to competition, or no one knows you, add a gimmick. A really easy one to do would be, say you own a restaurant, then start a competition in which the competitors try and eat a really big meal in a certain amount of time. If they don’t, they have to pay double the fee. A lot of people might turn up to watch, and sitting for an hour watching people eat makes me fairly hungry. Make it something annual and you might even get a lot of free publicity.

Here’s a story that I personally really like about someone who turned a failing business around using a gimmick. Lisa Renshaw, 21 years old, bought a parking garage. She realized that someone needed to be there 24/7 to maximize the profits. So she moved in. Then she created fliers saying that if you came to her garage and parked there five times she’d - wait for it… - wash your car. It’s that simple. But what is she doing today? She owns over 50 garages and is a multimillionaire. Visit her site at www.pennparking.com.

There are many ways to jump-start a business. But a gimmick is easy, fun for both you and the customer, and can make you famous.

Sorry for the Inconvience - This Will Have to do Today.

2007-01-13T19:23:00.000-08:00

I’m sorry everyone, but I can’t write a long FunnyMunny post today. However, there is good news. The reason is, I was busy working on my personally owned website! The reason I want my own domain is because of one thing… ads! Here I am, telling you how to make money, the entire time waiting to make money of this site! Well, the time has finally come! When the website is ready to unveil, the new URL will be www.funnymunny.ca!

If any of you are wanting to own your very own domain, I have found a very inexpensive way to do it. The normal rates for a domain can go up to 8 USD a month. That would be 96 USD a year, or 112 CD a year. But, with the help of the easy-to-use and inexpensive www.lowcostdomains.ca, I am only paying 17.45 a year! I’m saving almost 100 dollars. But, anyways, when the site comes up and the ads work, if you are at all interested in them, please click away as I get only 0.25 cents for 1,000 impressions, but 1 cent per click!

It’s my Business to Fund Your Business

2007-01-12T19:24:00.000-08:00

It’s always good to give back to the community/world, especially if you’re very successful. There are many ways to give back, but I would have to say, my all-time favourite would have to be the World Vision catalogue, because you get to buy gifts for people in third-world countries. There are gifts in there such as vitamins, or food, but there is a saying that goes: Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime. So, naturally, being the businessboy I am, I bought someone a home business. A bee farm kit with a hive, in fact! The perfect gift that keeps on giving. Stings, that is! No, I’m just kidding. But there are also some things in there that cost a lot of money, such as the 15,000 dollar well that will provide a village with water for all of eternity!

So if you feel you need to prepare yourself for the business world and take some responsibility, start a fund-raising campaign in your school and try to buy a well for a village, or even a school for a village! (which also costs 15,000 dollars) If you want to watch an inspirational story about a 7-year-old boy who decided to do just that, rent the movie called Ryan’s Well. It’s a very good story. Now go donate!

Our Investments - Magic of the Day is How to Turn Wine Into Money!

2007-01-11T19:25:00.000-08:00

Here is a plan that I’ve been wanting to try for a really long time. I personally haven’t tried it, but I know people who have. What you do is buy newly bottled wine, but make sure it’s a good kind. Do a little bit of research on the different brands of wine, what awards they’ve won, how much the older bottles sell for, stuff like that. If you can get a good cabernet for 150 dollars each, try to buy at least 100 bottles. If you hold on to that wine for about 20 years, you can sell it at anywhere from 5,000 dollars to 10,000 dollars - a bottle!

My great uncle used to work as a financial planner down in California. He liked to collect wine, and bought about 1,000 bottles at bargain prices from 8 to 12 dollars each! Later, he sold each one and probably made a few million dollars! Or you could just buy 40 dollar bottles of wine and end up selling those for about 500 dollars each.

Guest Post: How to make money on the internet

2007-01-10T19:26:00.000-08:00

Hello FunnyMunny fans. Munnybagz has been stuck in traffic for the last three hours, with about one more to go, so he asked me to write for him tonight. He wanted me to write about ways for kids to make money on the internet. Well, there are lots of ways to do that, here are just a few ideas:

1. Sell stuff on Craigslist. Craiglist is a free buy and sell service, so selling things you don’t want anymore costs you nothing. If you don’t have anything to sell, you can ask friends and family if you can sell things for them for a commission. Perhaps 10%? Maybe 20%.

2. You can buy things on the internet and save money, which is another way of making money. See the previous post Saving Money for Hot Spenders. You can save hundreds of dollars by shopping around online before buying anything at a store.

3. Start a newsletter, blog, or website. Once you have lots of subscribers or visitors, you can get sponsors and advertisers for it. For instance, you can start your own blog, like this one (but about a different subject you are interested in) and place Google Adsense on it.
There are lots of other good creative money making ideas for kids too, but beware of the many ”get rich quick” schemes being promoted on the internet. Be careful that you don’t fall into a trap and get scammed.

If you have any other great ideas for how kids can make money on the internet, please leave a comment.
That’s it for tonight folks. Stay tuned for the return of Munnybagz tomorrow.

Hey Kids- Do You Still Want a Credit Card?

2007-01-09T19:27:00.001-08:00

Aren’t we in such a wonderful age? Quickly pay for things with a credit card! Never again will you need to save to get something. Now you can buy it and THEN pay for it! Right? Wrong! Credit cards are the real thieves of the money world! People who don’t understand credit cards can go over 100,000 dollars in debt! You need to understand that one thing a credit card is not is free money. And they are also the jewel in the sand! When it comes to interest rates, that is.

Did you realize that credit cards can charge up to 28 percent interest? If you have 100,000 dollars in debt, thats 28,000 dollars you’re paying to the bank just because of your wild spending habits! Now I know that some people out there have good spending habits. Only buying things when they know they have the money. But it’s just plain old unfair for those who save before they spend. With all these rewards you get for using your credit cards, like air miles, or don’t pay until 2008. What rewards do people get for saving their money that aren’t self-earned? It’s kind of like how someone gets praised for quitting smoking, whereas the person who should be getting praised is the one who never started.

If you’re about to give a kid a credit card, you’ll be damned if you charge it to you’re account. As long as it’s not their money they’re spending, they don’t really care how much they spend, or how much more you have to pay then what they bought costs.

Turn 8,000 Dollars Into 20,000 Dollars!

2007-01-08T19:28:00.000-08:00

So here we are again with John. Now John has just purchased a new house. He wants to pay off the mortgage quickly and effectively. What should he do? First off, check in advance to see how much money a year you would be able to spare on your mortgage. Then, according to that, see what plan you could handle. Remember, the fewer years possible, the better! Next, take out the mortgage for the house and purchase it. But before you buy a house, ALWAYS have a down payment of at least 10 percent. The more the merrier! But anyways, John manages to pay off 20,000 dollars a year. But unfortunately, mortgages accumulate so much interest that only 8,000 of that goes into the mortgage. The other 12,000 pays off his interest. But, lucky John wins 8,000 dollars in a lottery! Lucky John! He decides that money should go into his mortgage, although he’s already payed his 20,000 dollars. But wait- John has already payed off all his interest! That means that 8,000 dollars goes into paying off his house! So John just saved himself an entire year of mortgage tyrrany! So by managing to pay off that 8,000 dollars in the same year he already payed his interest, he just saved himself from paying 20,000 dollars in another year! Just call me Mr. Magician! So don’t buy that used car that you’ve been eyeing. Do yourself a favour, and buy a 20,000 dollar car instead when your mortgage is gone!

Kids- Earn up to 17 Dollars a Week in Allowance!

2007-01-07T19:33:00.000-08:00

Hi there! I just made a power-point presentation to my allowance-givers, requesting that I get a raise from 5 dollars a week to an amazing 12 dollars a week! Pshh, you say. But they almost agreed! They’re still thinking about it though… It just required a little planning and a lot of know-how. Here are some extreme factors that you should use in your allowance pitch. Look around you at other kids allowances and see what chores they have to do to get it and what expenses they have to cover (buy there own presents and toys, or maybe their own clothes).

But remember, when talking about what other kids got, only use people who get a better deal than you! (VERY important) The new “hip” thing is to get an allowance that’s equal to your age. I can vouch for that that, along with my behind-the-scene buddy, Michael, and all his pals, except for the ones who get way more than that. And when asking for a raise, shoot higher than you want, and slowly work your way down. But it’s always nice if you get more than you want, too! Act professional, as in I did a power point presentation after doing a lot of research. Plan out what you’re going to do with your money. My friend said he’d bank 7 dollars a week and save 5 for expenditures. Also, it’s good to make a contract, so that way you’re parents can’t get out of it. But the MOST important thing to remember… DON’T SHOW THIS TO YOUR PARENTS!!!

Rare Coins- How to Fill up Your Bank by Emptying Your Pockets

2007-01-06T19:36:00.000-08:00

The amazing thing about rare coins is that there’s only one way they can go- up. It’s not like the age of them can be reversed. And the only thing you have to do is empty your pockets and study your coins! I once was looking through my brother’s change and found an American penny that had the design on the tail side different from the current one. I believe it’s 69 years old. I can sell that penny for at least 5.00! That’s 500 times it’s value! Now if you can get any type of coin that the mint doesn’t make anymore, such as a half-penny from 1699 is worth up to 200 dollars! 40,000 times it actual value! If you have a coin that’s at least 50 years old, hold on to it! If you have a coin that’s at least 100 years old, check up on how much it’s worth. If you have a coin they don’t mint anymore, sell it or hang on to it and pass it through the family. A 318 year old 10 ducat gold coin from Romania was starting at 25,000 dollars. The estimated value? Up to 1,000,000 USD! If only you Romanians had passed your coins on through the generations… But anyways, if you don’t have an old coin, you can always sell a set of quarters or something like that. Just remember, you don’t have to find old coins. They find you.

2007-01-06T19:35:00.000-08:00

I know that if you subscribe to FunnyMunny it says when I post, but if you subscribe personally, I’ll give you a few details on my latest post. If you want to personally subscribe, just email munnybagz@yahoo.ca and I’ll put you in my address book.

Brokers for the Unaware

2007-01-05T19:37:00.000-08:00

Brokers are trying to put up an image of themselves as people who will help you with your stock investments at a cheap price. Only some brokers can actually identify with this description. Most brokers have hidden fees, make selections so they benefit more than you, and have terrible customer service. (this isn’t just an annoyance, it can cost you your fortune) One thing you really have to watch out for in a broker is whether or not they’re in the business to make as much money as possible, or to help people out to their fullest extent. There have been countless reports of brokers not following direct orders just so they can get that new car they’ve been eyeing. In the first place, I wouldn’t invest large amounts of money in stocks because it’s so risky. And if you really need a broker, make yourself clear that you want to check over all of his ideas before he carries them through. Otherwise you could end up with a ton of stocks that are obviously going to fail, with your broker being completely oblivious. Also, when you’re not in constant access to your portfolio and your broker, give them some instructions in case of emergencies. What if you go on vacation only to come back in the middle of a crash and your fortune gone, all because your broker just couldn’t push a few buttons?

Contact me! Finally…

2007-01-04T19:37:00.000-08:00

I now have an up-and-running email address for FunnyMunny. If you have any questions about how kids can make money you want to be answered or topics you want me to write about, feel free to send it all to: munnybagz@yahoo.ca.

Banks- Gaining Interest Rather Then 10 Cents

2007-01-03T19:39:00.000-08:00

I remember a time when i had a mere 85 dollars in my bank account, and every month, when i would collect interest, I would get 1 cent every month. Now I obviously have a lot more money in my account, but I’m still getting very low interest. I know a bank that would give me a much better return, but I’m just too lazy to go there. There’s no excuse for you not having enough time. If i had taken an hour or two to get a better account, i would have gotten at least 10 percent of my money in interest. So even if you’re quite happy with your current bank, it’s always a good idea to look around for some that pay better interest. And before you open an account, make sure you check for any fees whatsoever! Some banks can actually have you LOSING money in a savings account! Check out all your options for an account to hold money. GIC’s are really good for kids who don’t want to spend their money and are only interested in making more. They give a lot more interest in a much shorter period of time. But if you want constant access to your money, a GIC is not the option for you. They have a minimum amount of time until you can take your money out, which is normally 6 months. And if you’re just a kid with not much money or you’re looking for an account to hold your only money and you can’t afford to lose it, don’t put it into an account with a risk factor, no matter how low it is. Remember, taking loans out of banks is a sin unless mandatory. Rates on bank loans can cause blindness, paralysis, or even, in extreme cases, death! (just kidding) Banks don’t make money by giving it away. The loans they make interest off of need to make more interest then they are paying to customers!

10 Percent is More Than 10 Percent

2007-01-03T19:38:00.000-08:00

If you want to have a successful retirement, it’s always good to have multiple sources of income. Not only do you want to have a few income-generating investments and a pension plan, it’s always good to have the ten percent you’re saving as a backup, or “fun fund”. That way, if you live longer then your pension, you can still have money!

Saving Money for Hot Spenders

2007-01-02T19:40:00.000-08:00

There probably is a phrase out there that states, in some way, that saving money is earning money. I’ts not. Earning money is where you work and new money comes into your hand to reward you for your efforts. Saving money is where you prevent money that you are already in possession of from being thrown away. The easiest way to save money, in my opinion, is to not spend it. But, alas, we all get an itchy credit-card hand once in a while, but you can still save money while spending money. Here are some tips. Don’t get trapped in a fad. People spend hundreds of dollars on the latest collectibles or playing cards, only for them to go out of fad a year later. If you must take part in a fad, think about whether or not you’ll be able to get your money back by doing something like selling it on eBay. Don’t buy thing you know you’ll never use. I remember an Archie comic where Jughead walks in carrying a yacht steering-wheel with his parents saying they don’t even have a yacht. To which Jughead says, “I know, but it was such a bargain!”. Don’t be daunted by the task of looking around for a few hours to find the best deals. You think that it would be better to spend an extra 150 dollars on golf clubs and work overtime for 3 hours instead of looking around for golf clubs for 3 hours and saving 150 dollars? Look at it this way. If you earn 60 dollars an hour working overtime, that means that you’d make 180 dollars in 3 hours, right? Thats 30 dollars more than 150 dollars in 3 hours. But wait! There’s more! Minus taxes that only is about 45 dollars an hour. That makes 135 dollars. 15 dollars less than the saved money. You may have new money in your circulation, but you have taken out more old money then new.

Real Estate With $500,000

2007-01-01T19:43:00.000-08:00

If you are ready to buy a house without needing a mortgage, then this is for you! If you aren’t, then refer to my other articles. A good reason to invest in real estate is that you can double your money in less than 5 years! Then buy a new house and sell it, then buy 1 or 2 houses and sell them, then eventually move on to new and bigger things such as Mansions, summer homes, apartment buidlings, and eventually even golf courses! The cool thing about investing in an apartment building is that you generate income while you’re letting your land become more valuable! If you think that this is a slow and tedious process, and just doesn’t pay off enough, you just have to play your cards right. Donald Trump did, and it’s thanks to real estate that he’s a billionaire! Also, to save money, you could constantly move and live in your current investment house. A good way to pick a good investment spot is to look for places that were residential, turned commercial, and are starting to or about to develop into high-rises.

Mutual Funds- They put the “Fun” in Funds!

2007-01-01T19:42:00.000-08:00

Mutual funds are amazing in their own way. The only problems with them are that that have a risk factor and it’s better to be putting money into it weekly, bi-weekly, or monthly. Lets say you are putting 50 dollars in it every week. The first week, the stocks are selling for 10 dollars each so you buy 5. The second week they’re selling for 5 dollars each. Then they even out to 7.50 dollars each, but you don’t buy any. So how much money have you made? Nothing, right? WRONG! You bought 15 shares, and selling them for 7.50 each, that would be 112.50! 12.50 cents profit out of investing 100 dollars for only 2 weeks! Not bad! Mutual funds are great for holding your 10 percent fund. If in the beggining it goes really low, don’t worry. It just means that you’re buying up lots of shares, so once it raises in price, you’ll make lots of profit. The best way to get the most out of your mutual fund is to wait until you’re going to retire in a few years, then wait for it to raise in price. As soon as it rises, sell it and don’t risk leaving your retirement fund being worth little when you’re retired!

Money Names- Don’t Question Them!

2007-01-01T19:41:00.000-08:00

$1,000,000,000-Bill $1,000,000-Mill, a k of ks, thousand thousands $1,000-k, g, grand $100-large $1-big one Money in general- frog skins, biscuit, beans, spondoolicks, spinach, wampum, small potatoes, dinero, mucho dinero, payola, cookies, bread, do re mi, greenbacks, paper, big bucks, dough, almighty dollar, loot, mint leaves, throw money, washers, red cent, the mother’s milk of politics, geech, juice, black money, trading stamps, bait, dead president, pazoza, peanuts, handsome ransom, wad, glory roll, lettuce, chicken feed, moolah, clams, smackeroos, peso, c-note, simoleons, buck, cold cash, cheddar, rhino, stretch, cake, cha-ching, love, gingerbread, freshmaker, . How to ask if you can borrow money- "Can I squeeze your nuts?”

Real Estate without $500,000

2006-12-31T18:49:00.000-08:00

I’m sure that many homeowners will say that their house is the biggest investment they’ve ever made, right? Well there is a way to make real estate not only a long term investment, but a low risk, short term investment with huge returns! And you have the added bonus of bragging to your friends that you have two houses. What’s the catch? No, really, I’m asking you, what’s the catch?

So it’s a very simple process. Do some research on the houses you like. How old it is, how much the previous owners paid for them, stuff like that. Then take out a mortgage with as low interest rates as possible, and purchase it. It is preferred if it’s a fairly run-down house so you can get it for cheap. Ask your friends to help you fix it up, then rent it out.

Here are some numbers to get the juices going. If you buy a fairly run down house for 225,000 dollars, and you fix it up and you collect 1,500 dollars rent each month, it would take about 20 years to pay it off. After that you would be getting an extra 1,500 dollars a month, plus the house should be worth about 600,000 dollars! There’s a big chunk of your retirement fund, right there!

Fun Ways to Get Rich For Adults and Kids

2006-12-31T18:47:00.000-08:00

Well, I must say that if you are addicted to MMORPGs, and play them often in your spare time, check out eBay to see what people are paying for accounts and gold. ConquerOnline, in my opinion, is the best game for making money if you sell accounts, which are easy to level, but another extremely good one is MapleStory. Clerics are easy to train, and sell for much more than other magicians or other classes. I saw a level 68 cleric selling for 130 dollars! I know that it is cheating to hack, but if you do feel like making a level 90 in a few weeks, here are some tips:

-Make sure the hacks don’t have viruses
- The best two hacks to get are the range hack, which attacks everything on the map from one spot, and the item vacc hack, which sucks all the items on map into your character.
-Don’t bother with float hacks, seeing as you might as well get reported anyway. You need 9,999 reports to get banned!

Another easy one is RuneScape, but only if you have a few friends that play that you know in real life. Just sell them some of your in-game stuff for real money. Or ask if you could train their account for some money.

The Holy 10 Percent - The Key to Success

2006-12-30T18:46:00.000-08:00

As my good non-personal friend Dave Chilton talked about in his book, The Wealthy Barber, a major key to having a good nest egg (retirement fund) when you grow up is saving at least ten percent of what you own.

Let’s put it this way. You make 50,000 dollars a year, the taxes already been taken out. So that means you earn about 4,150 dollars a month. Ten percent of that is 415 dollars. If you save this little money for 30 years, or 360 months, you will have put in 149,400 dollars. But with an average of 8 percent compound interest, you should have over 150,000 dollars! Oops, did I say that? I meant over 1,500,000 dollars! People could live off that amount of money for their entire life.

But of course, this is just getting started. I mean, there’s no fun in being rich if you can’t splurge! 1,500,000 dollars probably would last me a month to a week. So if you would just bring it up by a mere 85 dollars a month (about 5 hours of work) for an extra 5 years, then you would end up with, in only 5 years, more than 1,100,000 dollars, leaving you with 2,660,000 dollars! Think about going for 40 years of saving. 3,910,000 dollars. an extra 1,250,000 dollars in another short 5 years.

From what I’ve heard, people who use this strategy of saving money at first think it’s a lot, omygosh my standard of living is in danger, uh oh no more treats, D’OH! But then 5 months later, you ask about it and they say, what extra 500 dollars? I like reading this section over because it has so many huge numbers.

So I've Never Made a Blog, Eh?

2006-12-29T18:41:00.000-08:00

I guess I haven’t… But there’s a first time for everything, right? Well, I guess my reason to have a blog is because I’ve heard that some people actually can live off their blogs, making hundreds of thousands of dollars a year off them! And the subject of my blog is financial security for kids and desperate adults (or really smart ones) and how kids can make money.
I found this really cool website where they use bills to create things. Here is the link to the website:
http://members.cox.net/crandall11/money/index.html

FunnyMunny

Done

Office Humour

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Cyberchores

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Why be Rich?

Power of vii

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eField Trip

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I Just Got Chowed!

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With Ideas - From you, to me!

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I'm a Big Businessperson Now!

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Uh Oh Alphagettio!

Possibilites!

Here's to Another Review

Tax Rebate and Debate

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This is Why I'm Rich

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Post Number 50! Review Number 1!

Financial Success in Autopilot

F.F - F.F.F.A.F! - A Close Shave

Really Rad Savings oPportunity

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Quick! Catch Something Bad!

I Am a Millionaire!

Frugal vs Friendship Necklaces

Guest Post: Credit Card Report Card

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F.F - F.F.F.A.F! - Pennies for Pens!

Free Fundraisers - Fun For Friends And Family!

Kids Can Do It Too!

Finally - A Question has Come on Insurance!

Mortgage Magic II

Anonymous Strikes Again!

The Talk Show Continues!

Aaaaaaand... We're Back on Air!

My Mortgage Magic - Make the Money Appear Again!

Lemonade Stand? Sour and Bland!

How to Make a Killing off of a Blog!

Good news!

I Regret...

How To Monopolize in Monopoly!

The Toons go Head-to-Head in Fight for Best Rich Comic Character!

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Guest Post: How to make money on the internet

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Kids- Earn up to 17 Dollars a Week in Allowance!

Rare Coins- How to Fill up Your Bank by Emptying Your Pockets

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