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Primii pasi in finantele canadiene - ce trebuie invatat?

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Primii pasi in finantele canadiene - ce trebuie invatat?

Mesajde Isostar » 27 Mai 2014, 16:16

Am incercat sa fac un "Canada - Economics 101". Contributia mea consta numai intr-o aranjare pe baza criteriilor mele, iar tot ce este citat vine din alta parte. Am incercat sa acoper notiunile de baza, fara sa intru in detalii despre investitiile financiare - inca lucrez la acea parte si o sa vina in cateva zile. Din pacate in engleza, daca exista amatori pentru traducere puteti sa-i dati inainte fara probleme.

We start from here:


People do not make rational decisions. People do not have equal access information. People have different values and goals. People are loss averse. People are risk averse. People cannot estimate risk accurately. People buy high, sell low. People overvalue sunk costs. People get emotionally attached to investments. People don’t want to lose face or admit fault. People are proud and vain. People can’t grasp very large and very small numbers. People can’t conceptualize compounding and non-linear growth.

Oh, and so much more. Most importantly, people have difficulty recognizing these faults and biases in themselves, so it is important to “tag team” important investment decisions, such as with a trained adviser.




So, this is what matters:


Gold is the currency of Kings
Cash is the currency of merchants
Credit is the currency of Slaves




And advice from someone that built a financial empire:


On Spending: “If you buy things you do not need, soon you will have to sell things you need.”

On Savings: “Do not save what is left after spending, spend what is left after saving.”

Be capable to evaluate “Need” vs “Want” vs “Award


Understand costs that are around you and how to address them:


#1 the cost of higher education vs. (realistic) future earning power
#2 the costs of owning (and maintaining) a home
#3 the costs of buying a new car
#4 the costs of having children
#5 the costs of getting divorced
#6 the cost of saving for children education
#7 the cost of weddings
#8 the cost of having a pet
#9 opportunity cost of your choices
#10 the costs of not reading the fine print (i.e. bank travel insurance policies)




Basics required to understand what is really happening in financial world:


How little is minimum wage when you’re paying bills?

How little is the average Canadian wage when you make the average Canadian decision?

How to understand Debt (vs equity). Mortgages, credit cards, teaser rates, pay-day loans

· Learn basic balance sheet,

· Understand debt management: good debt vs bad debt; amortization, interest rates, repayment planning.

· Use debt only for appreciating assets. If you must use debt for other purposes eliminate it as quickly as possible

· Find out what is the true, total cost of a debt over the life of the loan

Cash flow management – Your in-comes must be higher than you out-goes. Learn how to balance a budget

Benefits and pitfalls of credit cards - never EVER let a credit card go even one month without paying the balance in full – because they trick you by charging you interest on all your purchases for the whole month even if you only underpay by a few bucks.

Taxes – what you pay as a salaried worker vs as a small (or larger) business owner , ROR before and after tax

Understand compound contribution and interest. A pittance you just let add up isn’t a pittance after a while

The power and the danger of leverage: “you may have made double what you borrowed, but that guy is stuck paying for something worthless”

Supply vs Demand. Also why S vs D and “rational” models fail (bubbles, trends, manias, why most people buy at tops and sell at bottoms)

Truth about banks. Learn what is their role and what are their goals. explain that they do a service, but ultimately exist to serve themselves over individual customers.

Companies and corporations. What is the difference between private and publicly traded companies. what are their ultimate goals and mentality.




Things to do or to avoid for a better chance


Understand history of financial crisis – how the lead up almost always involves a huge buildup of credit/debt

Be capable to evaluate a transaction thoroughly. (ie.: Impulse buy? Peer Pressure? Truly a HOT deal?)

Saving – Put away a portion of your take-home income EVERY time you receive some.

Protection – Insure your most valuable assets, your ability to earn an income is your most valuable asset when you’re young.

Investing – If you can’t do it pay someone to do it for you. Learn how to much to pay.

Optimizing – Tax efficiency, asset distribution, etc.

Freedom – Ultimate goal of all other lessons, passive income > expenses.




Path to a better financial future:


Understand that “Nothing that is good for you has to be marketed / advertised”. Conversely, almost everything that is marketed to you is intended to make money for someone else

Have a healthy skepticism of sales pitches, nobody cares more about your money than you do so take responsibility

Ask questions and double check to ensure you have everything explained to you so you know AND understand it (especially your obligations).

Workout the full costs BEFORE you buy in (Sure you save money on the phone by getting it for free, but what is your total cost of a 3 year plan at $75/month?)

Shop around and don’t be afraid to ask if that’s the best price you can get.

Research beforehand and go to a variety of different sources to get the full picture.

Learn the basics before you do anything (what preferred shares are before you jump in the market)

and most importantly – Sit down and set up a plan! Know what you’re going to do, where your exits are and stick to it!!!




Va rog sa nu treceti cu discutiile pe partea de investitii financiare, aceasta o sa fie adresata intr-un topic separat.
Inghetand pe taramuri canadiene
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Re: Primii pasi in finantele canadiene - ce trebuie invatat?

Mesajde Sly » 27 Mai 2014, 16:27

Regula de baza este sa stiti ca astia aici cand va ofera "bani",incearca sa va arda iar daca puneti botu',sunteti mancati o sa fiti sclavii MC,Visa si Amex pana la adanci batraneti.
Bine,acum exista si varianta ca e frumos sa va planga cineva cand va duceti pe ultimul drum iar daca bancile plang in hohote la inmormantarea voastra se poate spune ca ati realizat ceva in viata. :D
Quand la dictature est un fait,la revolution est un devoir.
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Re: Primii pasi in finantele canadiene - ce trebuie invatat?

Mesajde xplaur » 28 Mai 2014, 18:04

Teoria ca teoria, da' praftica..... :bigsmurf:
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Re: Primii pasi in finantele canadiene - ce trebuie invatat?

Mesajde laurent_db » 28 Mai 2014, 18:26

Sly scrie:Regula de baza este sa stiti ca astia aici cand va ofera "bani",incearca sa va arda iar daca puneti botu',sunteti mancati o sa fiti sclavii MC,Visa si Amex pana la adanci batraneti.
Bine,acum exista si varianta ca e frumos sa va planga cineva cand va duceti pe ultimul drum iar daca bancile plang in hohote la inmormantarea voastra se poate spune ca ati realizat ceva in viata. :D


Eu am MC si Amex si nu ma simt deloc sclav, ba la fiecare sfarsit de an mai iau si bani inapoi pentru niste cumparaturi care oricum le-as face. De la MC primesc chiar bani si de la Amex un cupon cu care pot plati doar la Costco.
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Re: Primii pasi in finantele canadiene - ce trebuie invatat?

Mesajde xplaur » 28 Mai 2014, 19:29

Asta spuneam si eu Laur, cu putina organizare se pot evita dobanzile: eu la CC nu am platit un cent dobanda sau penalitati, de cand il am (basca mai si primesc 2% inapoi, la fiecare sfarsit de an), masina e credit cu dobanda 0%. Sigur, sunt si credite la care nu se poate ocoli dobanda, dar deocamdata nu am ajuns la ele.
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Re: Primii pasi in finantele canadiene - ce trebuie invatat?

Mesajde sorro » 28 Mai 2014, 19:35

xplaur scrie:eu la CC nu am platit un cent dobanda sau penalitati, de cand il am (basca mai si primesc 2% inapoi, la fiecare sfarsit de an)

Nici eu n-am platit niciodata dobanda/penalitati. Eu primesc doar 1% inapoi (pe orice cumparatura), dar si aia e bine. As putea opta si pt. "up to" 2% daca vreau + sunt convins ca exista o sumedenie de alte oferte similare la alte banci.

http://www.rbcroyalbank.com/credit-card ... back-visa/
http://www.rbcroyalbank.com/credit-card ... index.html
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