Coaching | I Heart Money

I (Heart) Being a National Bestseller!

Coaching, Financial Coaching, Personal Finance No Responses »

May 142012

Hi Everyone,

I’m extremely close to being a national bestselling Canadian author. Thanks for everyone who has supported me. I love y’ all.

If you haven’t yet bought a copy of I (Heart) Money then please run out and buy two. I’m almost over the 5,000 copies mark which makes me a bestseller. Here are ways to buy! Keep loving your money.

Indigo and Chapters Stores

Most Indigo and Chapters stores have a few in stock! Here are the stores with the most copies:

Vancouver – Robson & Howe – 8 copies

Toronto – Eaton Centre – 5 copies

Toronto – Yonge and Eg – 19 copies

Toronto – Yorkdale – 36 copies

Richmond Hill – Indigo - 11 copies

Mississauga – Square One – 25 copies

Milton – Indigo – 11 copies

Indigo.ca 24% off!

If you buy from Indigo you’ll get 24% off right now here is the link below!

I (Heart) Money at Indigo.ca

Book Signing

I’ll be at Chapters at Square One on June 2nd from 12-5pm.

Chapters – Square One
189 Rathburn Road West,
Mississauga, Ontario
L5B 4C1
Canada
(905)281-8342

Save, before you pay off debt.

Coaching, Credit Cards, Financial Coaching, Personal Finance No Responses »

Jul 142011

In my practice I’ve helped many people pay off all their debt. With borrowed money being so cheap right now everyone seems to be borrowing more and more of it. It is also the single reason for people to lose sleep at night. When I’m doing book signings I get most of my questions around debt and how to get rid of it.

My blog this week is (what I tell everyone when they ask) what I talk about in my book. Debt is that weight that keeps you from soaring with your money. Once it is released you can truly take off. So let this be the day you draw a line in the sand and free yourself from bad debt. Here is my action plan:

1. SAVE before you pay back. This sounds counter intuitive but it works. Save up $1,500 or $1,000 in your chequing account as a buffer. If you pay chequing account fees, save enough to get these waived. I have $1,500 in my chequing account at all times and it saves me $8.50 x 12 = $102. On $1,500 that is a 6.8% return on my money. Better than the average savings account. If you don’t pay a bank account fee keep it in a savings account. It will act as a buffer so if you’re short of money due to emergencies, you won’t go further into debt. Keep it there no matter what.

2. ISOLATE your debt. Try to get all of your debt on a low interest credit card or even better a personal loan. Get the rate as low as possible and fix the payments. If you owe $20,000 commit to paying $600 a month or whatever you can afford and wipe it out in three years.

3. PAY off something pronto. Get the lowest balance card and pay it off right away – even if it’s $50. Then celebrate the victory! That was you first move towards being debt free and you want to associate it with something positive. Just don’t celebrate on your credit!

4. MARK the day you’ll be debt free. Write it on every calendar in the house, at work, and on your SmartPhone. Once the debt is gone take the next payment that would have gone towards the debt and reward yourself with it. Maybe a nice dinner, savings towards a trip, a nice new debt free pair of shoes. Know that when you have hit your debt free day there will be a cash reward for you.

5. LOSE the guilt. I see so many people feel bad about their debt and it doesn’t serve them well. Use cash for spending, set up a budget, only use cards for fixed monthly expenses and have it automatically pay off each month. Set a plan and then know what you’re a new money maverick/maven and don’t let old habits hinder your new positive ones.

Blow out your debt and start sleeping again,

Dave

Retire Now! It's Ah-mazing.

Coaching, Financial Coaching, Goal Setting, Personal Finance, Saving Money, Uncategorized No Responses »

Jun 202011

Want to retire now? You might be able to. We are often told that we need million and millions of dollars to retire. That is only true depending on what kind of retirement we want for ourselves. If we want to continue with new cars every few years, living in our McMansions, eating out all the time, and enjoying the big city life we probably need even more!

But think how great it would be to just leave it all behind and enjoy life for what it is. If you didn’t have to work you could sleep in late, enjoy a leisurely coffee at a cute little coffee place with hipsters and artists. You could have long walks looking in all of the store windows. You could meet someone for coffee everyday and start doing all of the other things that you long for day to day.

Doesn’t that sound awesome? Let’s find out how much it would cost. Now if you cut all of your expenses and started fresh, how much would you need to live on? Let’s take the example of moving to a cheap retirement destination now, for example Mexico, Northern Ontario, or Istanbul like where I want to retire. Look around and see if you could get a cute pad for $500-$1,000 a month. You would need to eat, have some extra spending cash, and maybe some money to a have a trip home once a year to see all the workers!

Does that scenario sounded good to you? I could do that for $2,500 a month. Here is how I’d do it. I would have a pad for $800 per month, eat for $700 and have another $1,000 a month for travelling and trips home. To get $2,500 a month at a very conservative 6% return by laddering GICs I would only need $500,000–far from the $3 million that people call for today.

Now how would I get there? Knowing what my dollar amount is I can do some extra jobs before I go and teach English to earn extra money when I retire. I probably won’t be off to Istanbul this month, but I could if I wanted! My point is to set your dollar amount and start saving.

Anchor yourself to how awesome early retirement would be and look at ways to do it. The standard of living is so much cheaper in fantastic areas of the world. Get excited by the idea that it is possible now.

Life should be about enjoying our time, more freedom, more time with friends and family and more joy. Why spend another day in a bad office cubicle?

Love your money and it’ll love you back with early retirement and an awesome life.

Dave

Make More Money, Way More Money!

Coaching, Financial Coaching, Personal Finance, Saving Money, Uncategorized No Responses »

Jun 092011

Financial experts love to talk about how you need to cut, cut, cut
into your spending. How you need to eat at home, stop shopping and clip those coupons. As much as I like the idea of simplifying and being efficient with my money, we still need to enjoy our lives.

Sometimes when we cut too much enjoyment out of our lives we fall
off the wagon and have a crazy spending spree to get some release
from the austerity. We wake up surrounded by shopping bags with
caviar smeared all over our faces from the night before. We can’t have that now can we dhaaaarlings?

My win win solution to this problem is to cut spending that doesn’t make you truly happy and then make way more money at what does make you happy. Look at what you do well and make more money at it. I, for example, love to talk about money, and now I get paid to write about it! How awesome is that?

What is Your Market Value:

Compare salaries to see what similar jobs are paying. Call a friend or a head hunter to find out. Many industry sites post the average salaries for any given job. You may be surprised to learn that you are not making the current average rate! And if you do make more than average you should still ask for a raise. Good people are worth hanging onto. You’re totally worth more.

List Your Accomplishments:

Make a list of all of the things that you have accomplished for the company. Make it a dollars and cents comparison. That is how companies value employees: growth of accounts in $$, new clients, increased productivity, and new systems to increase efficiency that therefore saves them $$. Write it all down with a dollar value for each item.

Meet With Your Boss:

Once you have all of your market salary rates and the long list of how you have positively helped your company’s bottom line, set up a meeting with your boss. At the very worst they’ll tell you what you need to do to get to your desired raise. Be sure to make a note of that information and then set out to complete them in order to get that raise. In a few months when they are satisfied, set up a new meeting with your boss.

Ask For More Money:

Don’t forget to ask for more money. You might not get it at first, but you won’t lose anything by asking. If there is money coming to be distributed and you’ve asked already, your boss will have you at the top of her mind. Because we both know you’re an ah-mazing employee. You should get what you deserve.

Do What You Love:

If you love what you do then do more of it. Moonlight after hours if your work allows. If you’re super organized and like getting out of a mess – charge to do it. People pay me to show them what to do with their money or with their businesses, but I pay a trainer to keep me fit.

Make WAY more money and have an awesome week,

Dave

Let Me Take You To Money Paradise!

Coaching, Financial Coaching, Goal Setting No Responses »

May 262011

Many people ask me what I do day to day and so this blog is about my Financial Coaching practice. I’ve been working with individual clients for over three years now and I’ve had huge successes with all of them. My clients have started new businesses, got their ultimate career that they’ve always wanted, mastered investing, and overall started building wealth and happiness. My philosophy to financial success starts with knowing exactly what you want in life, and why you want what you want. Then we harness the power of YOUR genius and the market to get it for you.

Think of the last few times you’ve been sitting in front of a financial expert. They seem to be the ones doing all of the telling, right? What to invest in, how to cut back on things, when to make payments, and then where to sign. Instead of just looking at the numbers like most financial specialists do, I motivate clients with the possibility for their best life, and then we implement it – using the power of money.

Once I’ve helped my clients decide what specifically they want in life, we work together to decide why they want what they want based on their core values. Values are what motivate us to do what we do and can energize us to get through the most difficult of times. When we understand why we want what we want in life we become super motivated to achieve it. It’s like adding a constant jet fuel to our ambitions.

Implementing my strategy starts with a carte blanche approach. We build a “Life Status” around all of the things that they want in life. We harness the successes of the past and unlock individual freedoms. We look back to see when they performed at their best in various areas of life, and then we apply that same gold standard to their financial areas of life (career, investing, saving, and spending).

Everything that you want goes on the Life Status and we start them in order of their importance to you. It’s an amazing feeling to take action towards the things that you know will make you happy. And better than that, we implement strategies to get the market to pay for them. Like how I got the stock market to pay for my new car!

Let me build a program around your needs. First, decide what you want, and we will get your career and the market to make it happen!

Email me now at dave@iheartmoney.ca. Let me take you to money paradise!

Spring Clean Your Wallet

Coaching, Credit Cards, Financial Coaching, Goal Setting, Personal Finance, Points, Uncategorized No Responses »

May 182011

The birds are chirping and the bees are busy visiting all of the fresh flowers. The sun is staying up longer and the big sweaters and coats are about to be packed away for another season. Time to clean out some clutter and enjoy spring with a fresh clean start. Why not start with your wallet??!

It’s amazing what people keep in their wallets–old receipts, business cards, point cards, pictures, mints, and sometimes even locks of hair! Cleaning out our wallets will serve the same purpose as cleaning our homes. Let’s start fresh this spring with a new, slim, sexy, organized, and efficient wallet.

Having a wallet that you enjoy dealing with will change your mood towards the money that is held in it. If your wallet is a cavern of slips, cards, and ATM receipts, looking into it each time you need to get your money could be a nightmare. If searching for your credit card makes you curse, it will effect your relationship with money.

So let’s spring clean your wallet and start the season in style. Here is what you’ve got to do.

Get an awesome wallet:

First, go grab a new ah-mazing wallet. I got a camouflaged Prada one (on sale of course). It’s sleek and stylish and I love grabbing it off my desk in the morning and pulling it out to pay for something. It makes me happy to deal with and it’s kinda awesome. Buy one that reflects your personality and that makes you smile when you use it.

Organize non-wallet items:

Take everything out of your old wallet and lay it on a table. If there are business cards that you need to follow up on, put them in a pile and mark a date in your calendar to fire off an email for each one. If you have receipts, put them in your filing system. Pictures can be stored on your phone or Blackberry.

Ditch Your Point Cards:

If you read my blogs or saw me in the Toronto Star last Monday, you’ll know that I don’t think point cards are worth it. My wallet has my license, debit card, one credit card, my own business cards, and cash. That’s it! It’s lean and mean and all I need. Point programs always advertise you on a beach enjoying freedom from the work grind. Well I enjoy freedom from point cards every single day by getting rid of them all!

Organize your wallet:

Once purged of all the extra cards, receipts, pics, etc., put one week’s cash allowance in your sleek, sexy wallet. Put your business cards in one slot to keep them crisp and clean. They reflect you and your trade. Organize your bank cards so they are easy to whip out. I have my debit, credit and license layers in order of use at my fingertips. Quick draw!

Write three things you want:

With my cards I have written down the three things that I really really want this year. They are on the back of one of my business cards and every time I pick a card or cash I can see them. It re-enforces three important things to work towards that will make me happy. I’ve been doing this for years now. Try it. It really works!

Your new and improved wallet will now reflect the way you see money. Keep only what you need and organize them for easy use. Your wallet should be enjoyable, efficient, and energetic. Just like you!

Have an awesome week,

Dave

Chapters Indigo Book Tour

Coaching, Financial Coaching, Personal Finance No Responses »

May 132011

My book tour continues to grow and I wanted to let everyone know where I’ll be over the next two months. Because I know you all love money too, if you get a book signed, it’s worth more after I’m on Oprah and you want to sell it. :)

Here is my upcoming schedule:

May 14th World’s Biggest Book Store

20 Edward Street,
Toronto, Ontario

May 15th Eaton’s Centre Indigo

220 Yonge Street
Toronto, Ontario

May 22nd Woodbridge Chapters

East Woodbridge Centre, 3900 Hwy 7 West, Unit 1
Woodbridge, Ontario

June 4th Newmarket Chapters

Yonge Centre, 17440 Yonge Street
Newmarket, Ontario

June 11th Erin Mills Town Centre Indigo

5015 Glenn Erin Drive
Mississauga, Ontario

June 18th Burlington

1250 Brant Street #102
Burlington, Ontario

June 25th Milton Indigo

Milton Crossroads, 1180 Steeles Avenue East
Milton, Ontario

June 26th Richmond Hill Indigo

8705 Yonge Street
Richmond Hill, Ontario

July 9th Runnymede Chapters

2225 Bloor Street West,
Toronto, Ontario

Savvy Insurance Saving

Coaching, Dividend Investing, Financial Coaching, Personal Finance, Saving Money No Responses »

Apr 262011

Chris with the car on our route 66 road trip!

My friend Chris on our Route 66 road trip!

I just got my yearly car insurance bill and I saved more money again! Insurance is one of those expenses where you hate to pay but need to have it. Why not trim those premiums and try to make some money in the process? That’s how we roll, right? Here are some of the things I do to take the itch out of insurance prices. Enjoy my money monkeys!

Reduce Your Deductible

I would never claim any damage under $1,000 so why not increase my deductible to that amount. When my insurance agency tried to get me to reduce my deductible it would have cost me $1,000 a year. I’ll save that $1,000 and keep it in my rainy day emergency fund making me interest.

Keep All of Your Insurance Policies At One Place

I save 5% for each insurance policy I have with my insurance company. I keep my house and car insurance at the same firm to save that 5%. When I get my plane, boat, and cottage insurance with them I’ll save even more

Shop Around!

I love harassing the poor customer retention department staff. When they call I’ll charm them by telling them what a great customer I am and how I deserve a better discount. I’ll phone their competitors and if I find a better price I’ll have them beat it! It’s getting very competitive in the insurance industry and they will bend over backwards to keep good customers.

Affiliate Discount Programs

Ask at work or your spouse’s work if you have any affiliate programs with insurance companies. Being associated with a large company can save you a lot of money. I get a discount for also being a UWO alumni. Finally my schooling is paying me back!

Ditch The Extras

Get rid of any rental car benefits. Cheap cars will cost you $20 a day. Towing and other perks should be kept to a minimum that cost you more. Think how often you get into an accident vs. how many years you pay these extra fees.

Buy The Insurance Company Stock

Insurance companies have great profits so why not buy their stock? Do your research and if the stock pays a dividend and has been a good performer why not let them pay you a premium for a change?

Love your money and it’ll love you back with savvy insurance,

Dave

Unconventional Money Man!

Coaching, Credit Cards, Dividend Investing, Financial Coaching, Personal Finance, Saving Money No Responses »

Apr 142011

Here are three of my unconventional money saving strategies that go against the finger wagging, financial expert tips of the past. I believe that money is just a vehicle to a life where you’re really happy. I’ve found ways that being savvy with cash can get you there.

– SPEND on your perfect items. You’ll wear them way more and won’t buy as much saving money in the long run. If applied to spending on clothes, the perfect cocktail dress or suit that makes you feel like a million bucks when you wear it is worth spending on. If you wear it all the time because you feel good in it and get compliments then it will pay for itself by the good things that happen to you when you put it on. Feeling good in meetings is a huge advantage and will pay you back with greater results at work. Plus, if you cut out on spending on the things that will just sit at the back of your closet that you never use, you’ll actually save money in the long run. Only buy your perfect items and then love them!

- USE credit cards to get cash back and build your credit. Charge all of your fixed costs onto a no fee BMO MasterCard CashBack credit card, like gas, insurance, cell phone, gym, utilities, cable, and internet. You will get cash back on the things you need to use your card on and collect cash back dollars month by month. Also, use your card for trips, furniture, and other big one-time purchases, it all adds up at the end of the year. David received $271.02 back on these things this year! That means free utilities for a month or a nice dinner with a good friend.

- BUY luxury cars – Never lease a car always buy it. You will pay interest on the entire product and you don’t even own it if you lease. Buy it used to save on the initial cost, loan interest and insurance. Buy a luxury car, it’ll depreciate more slowly, have more options, be safer, and easier to sell if you need to.

Being a miser will only keep a negative attitude towards money. Spend smarter and enjoy your life!

Have an awesome week,

Dave

Get A Crappy Credit Card and Save!

Coaching, Credit Cards, Financial Coaching, Personal Finance, Points, Saving Money No Responses »

Apr 042011

Do you notice that credit card companies keep blingin’ up their cards. They all seem to be gold, or platinum or shiny black metallic now. They market them to be better than having a sleek Porsche. Using them is equal to being aristocracy. It’s like the Queen knights you every time you swipe, or so it seems.

Not only have they made the physical appearance of the card look like a shiny new car, they get us drunk on points or trips, or free things to entice us to use the card for every single purchase. New tricks like having money-tracking reports in our statements are there so we know exactly what category we spent too much money on to feed our egos.

Now I have fallen for this trick when I was just out of university. I had the shiniest, goldest, sleekest card they had. It would have been worshiped as an Inca goddess if it had existed in ancient Inca society!

I swiped it on everything from bars to trips to gas and groceries – all in the name of those most precious points. I would throw it down whenever I was at a dinner and then I would grab everyone’s cash to get the points. Then I would spend that money I had collected and still would have t0 pay back the cost of the dinner. In the long run, you spend more with the Ferrari of cards than you ever would save on trips or gain in prestige for having a sexy card.

That was a long time ago and I paid interest on my gold card at 18.9% interest only ONCE. I quickly dumped every pay cheque I had on the card until the debt was gone and I have never paid credit card interest again. I also ditched the gold card for something that would actually benefit me.

My new credit card was the crappiest look wise I could find. It’s a no fee card that gives me an “ok” cash back on fuel and my fixed expenses like gym, cell, insurance and anything I HAVE to charge like flights or parking meters. I went from a gold card with a spiffy design, to rocks on the face of the card. No more blinglicious card that encourages me to spend way more than I need to.

There are better cash back cards out there but I don’t want them. Anything that encourages me to spend more than I would with cash doesn’t make “cents” to me. I’ll save way more not using it than I would get back from using it on things that I don’t need or even want.

Ditch your fancy platinum, gold and fierce black cards and get one with a hampster, waterfall or rocks on it. It’ll give you what we all TRULY want, financial savvy.

Have an awesome week,

Dave

Older Entries

I (Heart) Being a National Bestseller!

Save, before you pay off debt.

Retire Now! It's Ah-mazing.

Make More Money, Way More Money!

Let Me Take You To Money Paradise!

Spring Clean Your Wallet

Chapters Indigo Book Tour

Savvy Insurance Saving

Unconventional Money Man!

Get A Crappy Credit Card and Save!

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