Aaron Broverman
Aaron Broverman is a freelance journalist based in Toronto. His financial journalism has appeared in Investment Executive, Financial Post Business and on www.bankrate.caMost Recent Post:
The Quickest (Legal Ways) to Make Fast Cash
Filed under: Economizer, Family Finances, Financial Crisis, Weird & Wonderful
In the early days of my freelance writing career (and if I'm being honest, some slow months even now) I've thought of abandoning the writing hustle for a hustle of a different kind -- one that comes with quick tax-free cash. A wise man by the name of Biggie Smalls once opined, "You're either slinging crack rock, or you have a wicked jump-shot" when describing the two possible career paths for black youths in the 'hood. For freelance writers it can seem like you're either slinging crack rock, or you have a well-paying article (Doesn't really roll off the tongue the same way). I sometimes look up from my laptop and imagine the bricks stashed in the vents on my wall next to stacks of unreported cash -- except there's this little thing called prison and this big thing called death that kind of negates any financial top-up that may come my way.That's when I got to thinking, 'What are the fastest, easiest and legal ways to make money -- you know, to make sure those lean times aren't quite so lean? Better yet, why not take the WalletPop readership along for the ride...
Half of Canadians Feel Worse Economically than During the Recession
Filed under: Consumer Complaints, Family Finances, Financial Crisis, Saving
The end of the recession hasn't provided any relief economically for half of Canadian households.That's what the employees at Toronto-based advertising agency Bensimon Byrne found when they commissioned their Consumerology report this past July. The Gandalf Group interviewed 1,500 Canadians between the 6-13 of July 2010 and found that half of Canadians feel worse off financially now, than they did a year ago, during the recession. Not only that, but one third of Canadian citizens feel like the country is still in the midst of a recession right now and 21% say that someone in their household will lose their job this year.
Internet Safety Just in Time for Back to School
Filed under: Technology, Back to School
Back to School time is generally pretty straight forward: get the supplies, pack the lunches, get the kids in the car and off to school, but there is a variable that will always be beyond a parent's control -- the computer. Safe use websites call it the door that's not locked, with good reason. It's very hard to really know what threatens your kids online because the threat can exist from behind a monitor anywhere. How can you protect your kids from something you can't see? From cyber-bullying to scams and fraud. We've got five commandments for safe surfing this year.Never share your personal information (name, address, phone number, family members names, credit card numbers etc.) This one depends on the age of the child, but in all cases pre-teens and teens possess a lack of ability to see around corners to varying degrees, so they're probably unable to see the potential consequences of publishing their details or blabbing their password. (even to their best friend) They need to learn that everything they do online is public and even with website security settings at the maximum, they cannot be trusted to stay that way. Facebook has already been under fire for their lackadaisical security measures and on repeated log-ins, we're speaking from experience when we say the settings never seem to stay where you put them, or something in the system changes and you must reset your standards. It's just generally easier to have a ban on personal information for your kids. Also let them know that no person or company would ask for this information in an e-mail or online and if they do, it's an instant red flag.
Think carefully when creating user names and passwords Internet security experts recommend using a combination of numbers and letters for both your user name and password, along with using a separate user name for chat rooms and programs. That way it makes it harder for the other party in the conversation to track your child down if you enter into a discussion that makes them uncomfortable and they want to leave. It's also good to set up "invitation only" chat that only their friends can join and please encourage them to clean out their instant messenger list or friend list every so often of people they no longer remember or communicate with.
Kids Save the Darnedest Things: Savings Accounts for Kids
Filed under: Banks, Budgeting & Planning, Family Finances, Fantastic Freebies, Saving
There comes a time in every child's life when saving boogers, earwax and lint isn't going to cut it anymore, especially when there's so many awesome toys coming at you during every commercial break in glorious technicolour or, if you're really lucky, high-definition.Besides, if you want any of this cool stuff, you're going to need an allowance. You know: an allowance! It's this thing where you do boring chores for your parents like the dishes or cleaning your room and if you do a good job they give you money and then you can use that money to buy the cool stuff on TV. Here's the thing though, some stuff is big enough and cool enough that you can't buy it right away, you have to be patient and save your money until you have enough. Sure, you could put it in a piggy bank, but soon that piggy bank will get much too full and you'll need something bigger to watch your money and help it grow. C'mon, all the cool kids are doing it.
Lucky for you, there are these places called banks and all they do is watch money for people and, it just so happens, they have ways of watching your money until you're ready to use it again...Of course, not just any watcher will do, you'll need a bank that watches money for kids just like you, all across Canada. Well, just for you, I have found some and they have these really cool things that they do just for kids. Neato, huh? But whatever you do, don't go blabbing to the adults.
Picking the Brains of the American Pickers
Filed under: Bargains & Freebies, Celebs & Money, Bargains, Entrepreneurship, Fashion & Trends, Investing, Weird & Wonderful
"We're just a bunch of simple guys from Iowa," says Frank Fritz when asked to describe why he and his partner in crime Mike Wolfe work together so well. They are the American Pickers -- two guys from the Midwest who travel the backroads and deep woods of the American heartland so they can rummage through people's junk. Sometimes their shop manager Danielle Colby-Cushman sources the people with the stuff ahead of time, but most of the time they're just knocking on doors and passing out fliers and digging through barns and backyards with all manner of signs, furniture, bikes, cars and knick-knacks, in pursuit of anything they can make a buck off.Mike owns Antique Archeology out of LeClaire, Iowa and Frank has his own business called Frank Fritz Finds. Together, they buy junk and old collectibles from people so that they both can sell them back to antique dealers, decorators, and pretty much anyone who will pay, for a profit. The show is currently airing its second season in the U.S. with an average of 4 million viewers every Monday night -- unheard of for cable -- and is about to make its freshman debut up north next Tuesday August 31, 2010 at 10 p.m. ET/PT. The format is so successful stateside that a Canadian spin-off is set to launch in the spring starring Calgary-based antique and art appraiser Sheldon Smithens and fellow picker Scott Couzens.
Mike and Frank have known each other since junior high and they know everything that can be said about the thrill of the pick, getting the right price and getting the stories behind all their finds. WalletPop thought we'd ask them what it was that made them decide to make a living digging through junk and cow patties, and what you need to do if you think your trash could be treasure.
The Lexus LFA: The Car That's Too Good for You
It goes zero to sixty in 3.6 seconds, has a top speed of 325 kph, powered by a 10 cylinder, 552-horsepower engine and its all under a carbon-fiber-reinforced polymer body, which makes it 220 lbs lighter than an aluminum equivalent. Production begins in December, with only 20 of these hand-built marvels being made each month to a maximum of 500 before it all comes to a halt. I'm talking uber-exclusive, uppercrust, once-in-a-lifetime, one time only, act now, kind of thing. I'm sure all you gearheads are drooling right now. But even if you had the $350,000 US it takes to drive this two-seater sports car off the lot, there's one thing you ought to know....You may want the Lexus LFA, but the Lexus LFA doesn't want you.
College Kid Credit Card 101
Filed under: Credit Cards, Back to School
If you're headed to college and you don't already have a credit card, you'll certainly have opportunities to nab one by the end of frosh week with all the credit card companies trading contracts for free t-shirts in the quad. Getting a hold of some plastic can be a good thing, you'll need to build at least some credit history to rent an apartment or buy a car down the road, but if you're already an impulsive shopper who can't properly manage the limited funds you undoubtedly already cling to, then any credit card can mean financial suicide.However, if your looking for a life-raft in the confusing and no doubt murky waters that are financial responsibility, we'll do our best to throw you a line with a few helpful credit card management tips to get you started on the basics. After all, credit doesn't have to be that scary, you just have to know how to tame the lion.
Should You Even Be Getting One of These?
That's the first question you should pose to yourself before christening your first charge card. Look at your financial attitude honestly: Is it one of malaise and indifference, or do you already keep a budget and handle other bills, rent or bank accounts responsibly? You also need to really examine why you want a credit card at all. Are you going to use it strategically, like only in the event of an emergency, or do you regard a credit card as the expansion of the spending power you already have? A credit card is essentially a loan -- the credit card company loans you the money and every time you sign the receipt you're promising to pay back the money. If you cannot pay back your outstanding balance by the end of the month, there are consequences, which brings us to...
Read and Understand the Fine Print
Beyond the teaser rates (those temporarily lowered promotional interest rates) it's important to find out what the real interest rate is after the typically, six-month "holiday" is over and what the consequences are if you are late with a payment or fail to make one? What are the fees you are required to pay as part of the penalization? Finally, what is the interest rate on a cash advance or a credit cheque? You should also know that missed payments stay in your credit report for seven years. Also, it's important to realize that the dates for payment can change without notice, so keep an eye on your statements every month. Such a change is a great excuse to call your credit card company and ask them to reduce your interest rate for you. Truth be told, most companies would rather lower your rate than lose your business.
Keep on Top of Your Payments
The best way to bypass all the tsuris associated with credit cards like debt, interest charges and a poor credit rating is to just payoff the balance every month. Yes, it is that simple. Keeping the tab on the card manageable makes it easier to pay off the outstanding sum. Just paying off the minimum payment is a guaranteed way to keep you in debt for years with the interest compounding as the months go by. Very soon you will be paying off the balance and more, so it's best to stem the flow right away. Of course, things happen, so if you can't pay the full balance, pay the maximum amount that you can. Whatever amount you're paying, make sure you pay early (at least a week) to avoid late fees.
Walk on By
Remember that just because someone is beckoning you with a credit card offer, it doesn't mean you have to take it. You can even fight back against if you don't feel you're ready to manage a card of your own. Some colleges whore out student phone numbers and addresses to credit card companies as part of marketing deals. Lobby your school to not sell student info and ask your student government to stand in solidarity with you and support that initiative.You can also take the opportunity to put your name on the 'Do Not Call List' to reduce your instance of being pressed by credit card providers over the phone.
Has the Telephone Company Got Your Number?
Filed under: Buyer Beware, Bargains, Technology
This is how things are supposed to go: you buy a phone, you sign up for a plan and you get a new phone number -- that is unless you're Marc Mysterio. The internationally known DJ had just returned from England to Toronto after working with Samantha Fox on his UK hit single 'Tomorrow.' (Remember, 'Touch Me?') and he needed a phone."I bought this Wind Mobile phone from Blockbuster. It was a great deal, at first. $22.50 a month for the first 6 months, no contracts, pre-paid, unlimited talk/text/long distance in Canada," he says.
But then he started giving out the number to business contacts, many of whom were record executives and celebrity collaborators, and when they tried phoning him, they heard the following message: "You have reached an invalid number, please check the number and dial again." Obviously something was up, but when Mysterio got in touch with Wind Mobile to solve the problem, the reason behind it caught him off guard. He had received a number from "a new batch of numbers" that not all carriers are yet aware of. The solution WIND offered was even more surprising.
"Good afternoon, As per our conversation regarding unable to receive calls from xxx-xxx-xxxx. We recommend that you have the customer at xxx-xxx-xxxx open a service ticket with their carrier -- Rogers," wrote technical support & data Representative Margret Arsenault in an e-mail.
I bet you can imagine the conversation had Mysterio taken her advice: "Hello there, high-power record executive. Would you mind phoning your phone carrier and asking them to recognize my actually legitimate number? What? You mean you handle millions of dollars a day and have bigger fish to fry? It's not your job to clean up my mess and you never want to hear from me again?"
"I am considering legal action against Wind Mobile since there was not a disclaimer of any sort to the effect of 'Hey, we will give you this great deal, but we may also make you look like a schmuck to your colleagues when they try to call you and it looks like you gave them a bum number.' I'm sure I've lost business because of this now," asserts Mysterio.
So what happened? Why would a brand new number suddenly become invisible when punched into the phone line and why was it up to those who tried to phone it to convince their carriers that it was indeed real? It was time to dig a little deeper.
Buying a Backpack That Won't Break Your Back
Filed under: Buyer Beware, Shopping, Back to School
The cycle never ceases: Every year the stores fill their shelves with new backpacks for fall and every year moms cringe at the number of textbooks their children are required to carry in them. The sheer weight of a full bag can cause lifetime back problems if your kids don't know how to wear them properly or you don't know what to look for in the store. Studies show 64% of children suffer back problems, so let's put an end to turning your offspring into miniature versions of The Hunchback of Notre Dame with a quick and dirty guide to proper backpacks and how to wear them.Make Sure They Don't Carry Too Heavy a Load - The weight in your child's backpack should not be more than 10 - 20% of their overall body weight, according to the American Chiropractic and Physiotherapy Associations. Use this optimal weight calculator if you're unsure. This is especially the case if your kids walk to school. The proper way to carry a back back is over both shoulders and never slung over one, as style has dictated in the past. Encourage your kids to make frequent trips to their locker to balance the load, or if they're in elementary school, tell them to only bring home what they need. You can also make arrangements with the teachers to keep a copy of the heaviest textbooks in the classroom and another copy at home. It's also important to pack the heaviest items first, so the most weight is distributed close to the body.
Find tips for buying backpacks after the jump.
It's Never Too Late: A Financial Preparation Guide for the Adult Student
Filed under: Back to School
So you've got some academic unfinished business to attend to, or maybe you've been inspired by one of those DeVry Institute commercials during an episode of Maury. Whatever the case, you've decided that it's time for a change -- it's time to go back to school. Problem is, you're not getting any younger, you've got kids hanging off your legs and if you go back to school full-time, your significant other will inherit the majority of the family's financial burden.It's a big adjustment, but don't worry because we've got a few tips to help you out and make sure you can put your future first as seamlessly as possible. After all, you've got a lot to gain by furthering your education.
Seek Out Financial Help - Dropping from two incomes to one can be one of the most painful sacrifices for any full-time student with a family. But the good news is there's help out there, you just need to know where to look. As the student in the family, you have access to your school's financial aid and bursary office, so squeeze the orange of scholarship, bursary, award and loan opportunities as much as you can. If you belong to a minority of any kind, there is often an organization that offers scholarships and awards to support you and as long as there's no age restriction, you are off to the races. Some smaller technical schools and colleges, like the Art Institutes of North America, allow you to lock in at a certain tuition amount as long as you start at a certain time. However, just because you're a student doesn't mean that there aren't some employment opportunities that can work for you. Ask around about on-campus work, as these jobs can be done in shifts around your classroom schedule. Every little bit helps, so don't be afraid to reach out to extended family, close friends, or former employers.
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