Who Controls All Our Money . . . ? (NF Rant)

[Photoz]

I gassed up at Costco yesterday morning, the pumps open at 08:00 . . . there was already a line-up, but I was on bone dry so I waited for 25 minutes to save about $5.50. This is the second time I put over $100.00 in, the first was Katrina . . . when I heard they might run outta $1.35 gas, I filled up, but within days it bottomed out, back to $.89.9. THIS time it ain't gonna bottom out . . . . there's talk we could see it at $1.50+ by summer!

 

In March of 2008 my car insurance was about $1100.00, in 2009 it went to $1450.00 . . . . last year it jumped to $1980.00 so I went from Economical to RBC at $1710.00. This year RBC has now cranked it up to $2100.00, and to add insult to injury I now have about half the coverage!! I nearly wore out my dialing finger . . . . it's like they all are reading from the same script . . . . . RBC at $2114.00 is the cheapest. But they have ANOTHER l'il scam going . . . if you take your home insurance with the car insurance, they will discount the car insurance so you get the home insurance FREE?? I suspect if you do that, they will crank the home insurance way y y y up next year, and since you chose the 'package,' you now MUST keep it?

 

And while I got a good rant going, just wait till the other member of that unholy trio (the banks, of course) starts crankin' up interest rates! I generally save my pennies all year, then take a short-term loan from my line-of-credit, to chuck into an RRSP which I pay back when I get my tax refund. The nerve these guys got . . . I put my money in a GIC for a year . . . . 1.25% interest . . . . but I have to borrow some back, temporarily . . . . at 5.25% . . . . now if that ain't legal robbery, w'ot'in'ell is?

 

So o o o . . . those of you with a house & mortgage, who have a fixed income or salary . . . 1 or 2 cars to insure, that might be gas guzzlers and kids to support . . . . what are YOU gonna do? I'd like to hear what you plan on doing this summer . . . . staying home? I'm lucky . . . . I don't owe a nickle and am on my own, and my l'il Montana van isn't really bad on fuel . . . but when a round trip up to the Kawarthas starts costin' $60.00 I'll be doin' my fishin' a lot closer to home. I can just imagine what it'll cost to drag a boat & trailer with a 4X4, then fill up the truck AND boat for a nice leisurely day on the lake . . . O W W W W I T C H! Ah h h h . . . . I feel a lot better now . . . how about you?

[Roy]

And good morning to you too, Steve! I've got to tell you that I'm way past worrying about that stuff anymore. If something bothers me and I know there's nothing I can do about it, I move on.

 

Nice to see you online. It's been a while. I hope your health is good.

[Photoz]

I'm just enjoyin' my 'Golden Years,' after 23 years walkin' the 'beat,' I banged up my heel, tried to work with it, but my limp got so bad I had to see an orthopaedic surgeon . . . . I'm now waiting for a spot on his waiting list for a knee replacement! I also got yanked off the street and relegated to sorting, in station, steady midnights . . . oh whoop de crap . . . but I guess one way to look at it . . .. I still have a job! I just gave up trying to switch back & forth, sleeping nights on weekends, so now I 'sleep in' till about 01:00, and find things to do until daylight. It was after getting into it with one insurance agent I made this post to see if anybody else is in a similar situation . . . . watta bunch of thieves!

[crappieperchhunter]

Well look what crawled out from under a rock It was good to see you post my friend.

 

I kinda share the same opinion as Roy...I guess I'm just numb from it now...they have wore me down to the point of not even registering concern as they bend me over.

 

However I really am concerned about the future for my kids sometimes. I truly believe they are the first generation in my life time that are going to be worse off then the previous generations. It had to happen sometime. It is just unfortunate that most of the generation has never been taught how to be frugal...was never a need in the recent ages of plenty...so they are like lambs to the slaughter.

 

On a more cheery note. Carp fishin is just around the corner

[Big Cliff]

Steve Steve Steve; Man you just have to get out fishing before it's too late LOL!

 

I do agree with you though, everytime you turn around someone up there is trying to take something from you. Our taxes keep going up and there isn't anything we can do about it. As CPH puts it, "bend over".

 

You can keep cutting back and pinching pennies all you want, the better you get at doing that the less revnue our government and institutions are going to get so they will just raise taxes higher to off set it.

 

What are you trying to save up for anyway, your golden years? By the time you get enough saved up to enjoy them, you'll be to old to do anything. Oh well, your kids will have fun with the money some day.

 

I am at that point where I'm tired of working most of my life to support some politician gets more time off than the school kids do and I pay them about 3 times my annual wages to do it.

 

The solution is simple, quit working, spend your time fishing or whatever you enjoy doing. Spend your money, go in debt to the hilt if you have to. When you aren't working anymore and all your money is gone, you will qualify for welfare. All the money you borrowed to buy new fishing gear and stuff; well now you claim bankruptsy, since you don't have a job or any resourses, you don't have to repay it.

 

You'll get free health care, drugs, glasses, dental, and you'll get enough money to buy food, pay rent and utilities and have plenty of time to go fishing! Isn't that what you have been trying to accomplish anyway? Oh, and move to the Kawarthas and rent a nice small house now so that when you are out of money welfare will end up paying the rent and utilities for you.... Then you don't need to spend a lot of money on gas to go fishing anymore!!!!

[bushart]

I know there's little us average people can do and venting does little....but...

 

 

You do not have to think that long to know why the saying...."Money (or greed) in this case is the root of all evil" has been around forever.

 

A lot of this is spawned by the same greedy oil speculators that drove the economy down not long ago---and no secret---every item somehow is tied to oil----heat---food transport---manufacturing..fishing....and so on.

 

Now a small percentage of fat cats don't care---they're making the bucks---they just pay.

 

It's our shrinking middle class that now will hold their dollars closer because the squeeze is on---Bills have to be paid now with HST---We are forced to hold on to $$$---not buying hurts the economy...We're right back where we started.

 

Heaven forbid anyone thinks of the people that are barely getting by----what do they have to go without now? It will be harder for the middle class to give more to help---they're being stretched also and left with less dispoable income to help.

 

So I too am sorry for the rant..but I hope they can't sleep nights.

[splashhopper]

my wife controls mine

[asdve23rveavwa]

my wife controls mine

 

When I saw the title of this post...this is the answer I figured would pop up within the first few replies

[kickingfrog]

It really does make you want to bash your head doesn't it.

 

In some cases there is little you can do but there some things you can.

 

1. Put the money you "save" all year for the rrsp into the rrsp monthly.

 

Benefits: You start compounding you money immediately not the the end of the year, and you don't have to pay to borrow.

 

2. GIC's are a horrible product for just about every person in just about every situation.

 

From the interest rate to the tax consequences GIC's are a lose lose, but they are great for the banks.

 

 

Disclaimer: Talk to a qualified advisor :blahblah1:

[Photoz]

Ah h h . . . . . but we're not talkin' big bucks into a GIC here . . . by putting my lousy few thou in a little at a time, in a year I MIGHT be $50.00 - to $75.00 further ahead. Geeze . . . . I have a mattress that could use some extra stuffin' . . . . ?

[pics]

There's a Mayday rally in Ottawa on May 1st!!! We need to take control of our resources and companies!!We pay more and more for things but our pay doesn't go up along with it. Meanwhile the CEO,s and their buddies move production offshore to save a few bucks and ensure their bonuses. It really pisses me off when people say it won't affect them because it hurts all of us... It's great if you can absorb the extra costs but I'm at the point where I can't afford the gas to go fishing.....

[kickingfrog]

It's your money, use it or lose however you want, you mentioned control.

 

Compounding, Compounding, Compounding

 

TFSA's are another tool that people can use.

 

GIC's are brutale, the banks job is to churn your savings as many times as possible, at an interest rate five, six, seven or more percentage points above what they pay you.

[bigugli]

 

 

A lot of this is spawned by the same greedy oil speculators that drove the economy down not long ago---and no secret---every item somehow is tied to oil----heat---food transport---manufacturing..fishing....and so on.

 

Heaven forbid anyone thinks of the people that are barely getting by----what do they have to go without now? It will be harder for the middle class to give more to help---they're being stretched also and left with less dispoable income to help.

 

So I too am sorry for the rant..but I hope they can't sleep nights.

 

 

I'm one of those now on a semi-fixed income. Watching a gas hike of 20% over a year, and the subsequent price hikes on everything else, there are consequences. Scrimping and saving are the order of the day. Meat only gets bought, in bulk, if it's on for cheap. I have a set limit on my gas allowance unless I make extra. Slobby's and the Stupidstore are not in my budget.

I have taken the lessons learnt by my grandparents, through war and depression, to heart. We waste too much time and effort on frivolous "I wants", and don't focus enough on needs. We don't need a TV plus accessories in every room. Can't justify $500 on a rod and reel.

I've been quite creative in finding extra money the past couple of years. Despite my disabilities I refuse to give up, surrender, and lock myself in my room. There aren't too many options

Pension funds and RSP's aren't that secure. Funds fail, go bankrupt. At the flip of a switch, governments can change the rules and start taxing the RSP's. They already did that on some money funds a few years back.

The food banks and benevolent funds can't keep up in most cities. Churches are, once again, opening soup kitchens. There are a lot of people without heat and hydro, again, this winter. That is the lot in life for a number of low income and fixed income families.

[aplumma]

While this is a little off the topic it might help some people that are going down the rough road of excessive debt.

 

 

"The secret to money is to make it work for you" This statement was passed on to me by a little old man one day. Over the years by trial and error I have been able to find some of the ways he eluded too. Most times if you take the time to talk to your bank rep. you will find that certain accounts can yield more interest than others. You can also find that those accounts can be raised to a preferred rate just by asking. The banks also have starter accounts that will pay up to 3% which you can have an automatically drawn from another account. While it is limited to about 1200.00 a year it is a start. This all sounds good but if you have debt then all of the % the bank can give you will not offset the % you are paying them. Focus on the largest debt % first and work hard to pay off one of the debt cards you have. After it is paid off go down the line and pay them all off. If you have a car payment nows the time to work on this one if it is a higher percent than than your mortgage. Now you have gotten to the point were the only debt you have is the house. Support your 401 or SEP to its maximum amount and then pay down your mortgage as fast as you can.

 

So were is all of this extra money you have? It's in your pocket and leaking out because you don't have a budget. Sit down and write a budget and stick to it. You would be amazed at how you spend your money keep a log for a week and you will see holes all over the place. If you want a good book to read Dave Ramsey he has programs that will give you the support and the reasons on how to get out of debt. He is not a debt consolidation service he is a guy that gives you the tools needed to fix your money issues with hard work and will power all for the price of the book.

 

 

Art

[Old Man]

While this is a little off the topic it might help some people that are going down the rough road of excessive debt.

 

 

"The secret to money is to make it work for you" This statement was passed on to me by a little old man one day. Over the years by trial and error I have been able to find some of the ways he eluded too. Most times if you take the time to talk to your bank rep. you will find that certain accounts can yield more interest than others. You can also find that those accounts can be raised to a preferred rate just by asking. The banks also have starter accounts that will pay up to 3% which you can have an automatically drawn from another account. While it is limited to about 1200.00 a year it is a start. This all sounds good but if you have debt then all of the % the bank can give you will not offset the % you are paying them. Focus on the largest debt % first and work hard to pay off one of the debt cards you have. After it is paid off go down the line and pay them all off. If you have a car payment nows the time to work on this one if it is a higher percent than than your mortgage. Now you have gotten to the point were the only debt you have is the house. Support your 401 or SEP to its maximum amount and then pay down your mortgage as fast as you can.

 

So were is all of this extra money you have? It's in your pocket and leaking out because you don't have a budget. Sit down and write a budget and stick to it. You would be amazed at how you spend your money keep a log for a week and you will see holes all over the place. If you want a good book to read Dave Ramsey he has programs that will give you the support and the reasons on how to get out of debt. He is not a debt consolidation service he is a guy that gives you the tools needed to fix your money issues with hard work and will power all for the price of the book.

 

 

Art

 

Good advice. I've been an investor since the day I started working at 16. Sometimes small amounts during tight times and larger amounts during good times. Always had a budget and stuck to it. May have not had all the toys my buddies had through the years but I retired at 50, they are still working.

[Old Man]

Good advice. I've been an investor since the day I started working at 16. Sometimes small amounts during tight times and larger amounts during good times. Always had a budget and stuck to it. Never bought a new vehicle or borrowed money for luxury items. May have not had all the toys my buddies had through the years but I retired at 50, they are still working.

Edited March 5, 2011 by Old Man

[Big Cliff]

To have a lot of money must be a wonderful thing but when is enough, enough? Most of the people I know that have a lot of money (by my standards) are always worried about keeping what they have and engrosed in finding ways to get more. No matter how much they have it never seems to be enough.

 

Money is only good as long as it lasts.

 

Memories are forever. Me, I'm all for memories because I'll never have a lot of money LOL.

[dsn]

Edited March 7, 2011 by Carper

[Photoz]

Memories . . . . . . . I can remember when I used to whine when I was getting $.34.9 per GALLON gas pumped into my ol' $100.00 '53 Pontiac straight 8!! Every 3 or 4 years gas would jump a penny, which would nearly get the local garage man tarred & feathered! A h h h Cliff, great memories, eh?

[adempsey]

Things seem worse now than they were 1-2 years ago when things were supposed to be at their worst. I noticed everywhere I shop the prices are going up very quickly. Salaries definitely are not going up that fast....if at all. I've seen more lay offs, forced time off and pay cuts than anything else.

 

Those Fat Cats have been sitting quietly in the corner waiting for things to seem like they were improving to jump out and start clawing at our money again. I think that's now. I don't see how this is sustainable. Are we just going to end up working to live? Some won't even be lucky enough to do that. IMO that's where most of the middle class is headed if things don't change.

[Fisherman]

I think one of the most important rules that you can live buy was mentioned above, the WANT vs. NEED rule. I'm not talking about basic life items, but the more frivalous things that you believe you can't live without, 3 TV's, the complete line up of cable or satellite service, dining out far too often, go to the movies, and oh ya, that "special" rod and reel that is supposed to catch more fish. A mega sized house complete with the mega electric and gas bill, the 3 cell phones and all the different iPods/iPads. Do ya really need the $XXXX sized fish finder or will the $xxx one work. Another thing that a lot of people don't do anymore is live with a hard and fast budget. My wife puts away the money to run our daily bills, house taxes, ins, hydro, heat, cable/phone/internet, groceries, etc in one account. There's NO DIPPING allowed. Leftovers at the end of the month are placed in another rainy day account for bigger ticket items like washer/dryer/fridge. If the money isn't there, it sure doesn't get spent ahead of of time. One of the biggest things that should scare a lot of people is their personal debt load, last study shows it's about 150%, for those who don't know what that means, people are spending $150 dollars for every $100 they earn. DUH. Anyway, just an opinion.

[irishfield]

I lost my job few years back and then the calls started. So I started to seek my rights.

 

 

 

Sorry DSN, your rights?? What about the rights of the people you owed money to?? Sad you haven't the dignity to worry about someone else feeding their family, just as long as you can clear your debt and carry on.

 

And Steve.. YOU control your money. Don't lose sight of that and you'll be just fine!

Edited March 6, 2011 by irishfield

[Billy Bob]

Actually when you come down to it we don't need half of the crap we have.....cell phones, big screen TV's, Cable or Satellite, computers, internet service and MANY more things we did without until recently....

 

My mother always said "watch your pennies and your dollars will take care of themselves"....

[bigugli]

To have a lot of money must be a wonderful thing but when is enough, enough? Most of the people I know that have a lot of money (by my standards) are always worried about keeping what they have and engrosed in finding ways to get more. No matter how much they have it never seems to be enough.

 

Money is only good as long as it lasts.

 

Memories are forever. Me, I'm all for memories because I'll never have a lot of money LOL.

My mother thought she had enough, according to all the bankers and advisors. Then came the collapse in I.T. stocks and she lost 20%. Then they changed the rules and started taxing "safe funds" and she lost 10% more. The recession, so far, has cost her close to 15% of her fund values. One heck of a beating in just over 10 years. So much for being comfortable, eh?

[hammercarp]

My answer to your question is, "Not You" at least not the value of your money. This inflation is the result of the financial crisis that nearly sank the worlds economy. When I started a post about the crooks that did this ( Inside Job ) there was not a bit of interest on this forum. The guys that caused this and future financial troubles yet to come class all got bonuses again in 2010. They could not give a crap about the price of gas, heating oil, insurance and the like.