If you have a good relationship with your money you would never pay $120 to have a credit card!  You’d never be caught dead paying interest when you don’t pay it off completely! Hells no–you’d never pay foreign service fees when you use it in other countires!  You love your money better than that and because you’re a money maverick you get the cards to pay you, right?  I just had my US$ and personal MasterCard pay me $187.37 this year and I only paid a $25 fee for the US$ card  This is how I did it…

Charge All Your FIXED Costs And Big Purchases

I charge all of my fixed costs onto my no fee BMO MasterCard CashBack card, like gas, insurance, cell phone, gym, utilities, cable, and internet.  This way I get cash back on the things I need to use my card on and collect cash back dollars month by month.  I also use my card for trips, furniture, and other big one-time purchases, and it all adds up at the end of the year.  I got $83.65 back on these things this year.  That means free utilities for a month or a nice dinner with a good friend.

Use Cash To Limit Your Monthly Spending

I’m a cash king.  I use cash for my day to day spending to fix my spending and then get cash back from my fixed costs that I put on my card.  Cash is best for my variable spending on things like clothes, lunches, food, entertainment, and coffees, and is a proven way to lower your spending.  Set $300 or whatever you need a week for variable spending and take that cash out at the beginning of the week and don’t take any more out. If I have a crazy champagne and lobster night I know another $300 will come next week!

You Get Extra Perks With Your Card For Free

Gas is another fixed cost that I use my card on.  I get an extra 1.5% back when I go to any Shell station in Canada and over a year this really adds up.  When I book a trip or make a big purchase like electronics or furniture the card gives me extended warranty and purchase protection plus discounts up to 25% at National Car Rental and Alamo all for FREE.

Get A US$ Card For US Trips

Because I spend a lot of time on business in New York and Los Angeles, I also have a US$ BMO MasterCard CashBack card.  I have US$ fixed charges for my business come out on this card that added up to $103.72 – $25 fee this year.  If a trip is cheaper in US$ I will use this card, and anytime I make business trips I use this card.  It pays me with cash back plus I save the 2-3% foreign service fee my Canadian $ card would charge me each time I used it in the US.

Have Your Bank Pay Your Card For You

Many people don’t know this but you can ask your bank to pay off your balance at the end of each month right from your chequing account.  Because I know what all my fixed cards add up to I know how much will come out of my account.  I save on transactions that I would use paying each bill separately, I never pay interest by missing payments, and I know that my card will go to zero each month without me taking any action at all.  Win, win.

Get the credit card to pay you interest at the end of the year!
Have an amazing week,

Dave

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Fuel is on its way up and I wanted to share my strategies to save on this necessity.  Not only will it take the pinch out of the pumps but it’ll get your portfolio going.  Vroom vroom!

1. Buy a car that is fuel efficient – this will be more important as fuel breaks $100 a barrel  this year.  I love cars but I also love my money so I got the most fuel efficient but performance driven car.  I have an Audi A5 but with the turbo engine instead of the V6.  Not only is it a driver’s car but I get really good fuel economy.  That is smart for my pocket book and the environment.

2. Get a fuel cash back card and use it.  There are many cards on the market.  I use the BMO Mastercard and fill up at Shell getting 1.5% back on my fuel. Then I pay cash when I’m in the US because you save .10 a gallon.  That is around $1.50 a fill up or $78 a year.

3. Find a cheap gas station a little out of the way and make a route to hit it once a week to fuel up.  In Toronto my place is the Shell on Dupont between Lansdowne and Dufferin.  It’s always $0.05 a litre cheaper and I get my cash back when I use my BMO Mastercard.  In Silver Lake I use the stations at Melrose and Vermont.  They are always $0.10- $0.20 cheaper a gallon than anywhere else in Hollywood.

4. Buy a basket of energy trusts and collect the dividends – not only will you get the stream of income, most of the time monthly, from the royalty or energy trusts you will get all of the upside.  I have 30% of my portfolio in oil or gas stocks and as oil increases in price, it will offset the increase in gas prices.  Oil is only going up from here until we move to a new resource – and I can’t see that happening for a good 20 or more years.

5. Walk or use transit whenever possible.  It’s good for your body and wallet.  You want to keep both firm and fully packed, right?!

Love your money by being smart with oil stocks and it’ll love you back with free gas and a pumped up nest egg,

Dave

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The number one reason I write my books, articles, and blogs is to show everyone how that they can harness the power of money to live their ultimate life.  Money saved on something that isn’t important to you can be spent on something that is very important to you.

I love stellar restaurants.  I also love my family.  So when they were here visiting at Christmas I wanted to show them all the best places in Hollywood that I’ve found.  I took them to my favorite French bistro, Figaro, in Los Felix Village.  We watched for stars at the super yummy Joan’s on 3rd.  We even went to West Hollywood to the classic Chateau Marmont for dinner under the stars. This city has an endless number of great places to eat!

Now eating at all the best places can get pricey, so we would average down the expensive dinners with less expensive ones.  We balanced an expensive five star dinner with pizza and salad at my place.  We had brunch at an adorable, inexpensive diner on Fairfax before hitting a trendy hot spot in the evening.  (Many times the diners are my fav!)

I had some morning show appearances in San Diego so I took my family with me.    After my interviews we asked locals about cheap but chic places to eat in Little Italy.  On the way back we drove up the beautiful Pacific highway and ate at a sea side restaurant under the sun.  It was not only an amazing meal but a great view of the Pacific. Definitely a meal to remember.

It’s ok to spend money on the things you love. The smart way to do this is to average down your costs whenever you can.

Have an awesome week but averaged down week,
Dave
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Where is the one place that you always think of when you’re knee deep in snow?  Unwrapping another turtleneck with a kitten on it from Oma?  Choking down dry turkey at Auntie Gertrudes?  No. Vegas Baby!
My family was visiting me in Hollywood this year and the day before Christmas Eve we decided to drive to Vegas.  Yeah, that’s right, Vegas!

This is a dream come true for me!  It’s been a mission of mine to spend Christmases all over the world with my family.  They are super important to me and I want to make sure that the time we spend together is the best time we can.  Two years ago we went to Egypt and who knows where we will go next year.  Family makes me happy and that is where I spend my money while having an amazing time.

But just because I choose to spend money on family doesn’t mean I won’t get the best for the lowest price, right?  We booked at the Flamingo the morning we left and got an ah-mazing price.  It was basically free.  I took my charming mom, smiling like an angel, up to the desk with me and explained that my family had never been to Vegas before and that we would LOVE the best suite. Well, mom’s looks paid off and we were on the top floor with the best view of the strip.

We walked the strip, went to some great restaurants, and waited for Christmas day to swoop in and get all of the boxing week sales.  My uber charm at Prada had the staff pulling things from the back that hadn’t gone on sale yet.  I got a classic, winter jacket for 30% off that would have been long gone if it ever made it to the rack.  To the charming goes the spoils!

For entertainment we changed up the traditional Christmas Eve church service for Boyz II Men!  They sang their hits, Mo-Town classics (my fav), and a Christmas carol set.  Those guys still have it.  Everyone should see a well performed “runningman” at Christmas.

For the same amount of money that I would have spent back home having an expensive, over the top traditional holiday, we went on a once in a lifetime Vegas-mas that we’ll all remember.  Isn’t making great memories with family what the holidays is all about?  Gifts I’ll grow out of.  Dinners at home blend together over time.  White Tigers and show girls are forever.

Can’t wait to see where we go next year!  Love your money and it’ll love you back with holidays to remember.

Dave

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I bet everyone has some new years’ money resolutions on their list, right Bellos and Bellas?  I’m used to seeing these following money resolutions on goals lists:

Pay down debt

Increase my net worth

Track my spending

Spend less on junk

Save eight months of salary

Well I have a great tool to help you achieve all of these on day one of 2011!  It’s called Mint.com. It’s the old Quicken.com and I’ve been using it religiously since I found Quicken.com.  And the best part of this program is that it is FREE!

You add all of your bank accounts, investments, credit cards, loans, assets and mortgages and it tracks all of your spending, budgets, net worth and investment returns.  What fun! You can add accounts from different banks, business and personal, and it even tracks my US Bank accounts for when I spend the winter down here.  All in once place!

Mint.com is available as an iPhone App!

Mint.com has an amazing app that is password protected and allows me to scan all of my cash, credit cards, budget and net worth on the first page.  You can scan your last transactions from any of your accounts, check credit card balances, and feel safe a check has gone through.  If I had to do those things with all my accounts I would have to check with four separate companies. Instead it takes two touches on my iPhone.

Every transaction that goes through any account or card gets categorized by Mint as best as it can.  If it doesn’t recognze someting it will keep it uncategorized and wait for you to assign it a category.  While waiting for someone at a mall (my mom) I’m able to categorize my transactions with a big smile.

It Helps Me Love My Money More

Mint also flags you when a big payment has gone in or out of one of your accounts and when an account has a low balance.  I had a friend coming to visit me in LA last month and Mint emailed me that I had a low balance in my US Bank Checking account.  It flagged that a big check had come out early, so I was able to transfer more funds before the weekend.  I would have never known that the check had come out early and I could have been out money.

Budgets Galore and More!

Another great plus for Mint is that it gives you great freedom to set budgets for the month.  You can set them and it tracks how much you have spent for the month on all of your budgets on the very first page of the iPhone app.  If you click on it it shows how all of your budgets are tracking.  If you do happen to go over (and I know none of my money loving readers would go over) it will send you an email letting you know.

Mint also sends weekly updates to your email account to let you know how much you’ve spent the following week.  It includes your net worth which comes in so very handy to keep you motivated to keep saving and making more money! Can I get a whoop whoop for making more money?

Keep loving your money with amazing tools like Mint.com and it’ll love you back with accomplished 2011 resolutions!

Dave

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Hi Kids,

What is a better gift to give than the gift of financial success!  It’s available at these fine retailers!

US Edition in book and Kindle format – amazon.com

Canadian Edition:

Book City

348 Danforth Ave, Toronto

1430 Yonge St, Toronto

1950 Queen Street East, Toronto

Nicholas Hoare

45 Front Steet East, Toronto

Ben Mcnally

366 Bay Street

Books For Business

120 Adelaide Street

Indigo / Chapters:

Montreal (St. Catherine St.)

Woodbridge

Yorkdale

Yonge and Eglinton

Bayview Village

Thornhill

Square One

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Now that I’ve landed in Hollywood and I have my amazing pad here I naturally need to decorate it.  I’m planning on being Canada’s youngest snow bird and spend six months here in the sun and write and work on some exciting projects.  (I’ve already practised driving slowly in the fast lane with my signal on, looking for a discount mall).  Seeing that I only will need the place for six months I naturally wanted it to be on the cheap yet chic.  Exactly what I do well. Because my places have always been modern and minimalisticy at home – I wanted to change it up this time.

I thought that I would change it up and be a bit out there.  To decorate in a style that I would never do at home.  Why not?  Eccentricity is what I do well, especially on a budget. My guest house is 100 years old and so are the neighboring houses.  My place has really beautiful dark hardwood floors, huge floor moldings and those crystal door knobs you find in other century homes.  I decided to play up these accents and make the place super Victorian. I’m here for six months why not shake up my decorating comfort zone. I got fancy flowered plates, and decorative knives from Target that cost less than $100.  I got the biggest, comfiest Lady Penelope sofa at IKEA that was deeply discounted.  It is blue and white with decorative pineapples!  It’s so awesome. The complete opposite of my sleek grey modern sofa from my loft.

Not only was it only $450 but it suits the place so well.  It is super comfy for watching CNBC on in the AM too. From IKEA I also purchased a decorative bed and mattress and some other kitchen and home essentials for another $700. Knowing that it is so easy to run up a huge tab decorating a new place, I separated all of my purchases into NEEDS and WANTS.  The needs were the sofa, bed, mattress and TV. A trader needs his CNBC, right?  Now with the WANTS I got everything used.  TV stands, bed side tables, coffee tables, and decorative paintings.  Some I’m still on the hunt for.  I hit up all of the antique markets, craigslist, garage sales and flea markets and bought or continue to buy the little things I need for a steal. Now how do I keep the dime you ask as per the title?

When I leave I purposefully purchased quality antiques, furniture and furnishings that I’ll be able to sell at mostly what I paid for them.  I made sure that I got an awesome 40 inch LED TV that when I sell it in six months it’ll still be worth most of it’s value.  Compared to a 32 inch cheapo brand that wouldn’t be worth squat in six months. The plan is to live in this eccentric and fun place and then leave with most of my initial investment back.  Gotta love your money. Keep loving your money and it’ll help you love your place – even for six months.  Check out my book in Kindle format on Amazon.com.

You can read it on your iPhone or iPad too! Have an awesome week,

Dave

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I’ve moved into my new place here in California and I love it!  I couldn’t have found a better place.  Moving to a new city and finding a new place to call home is one of the most stressful things you can do.  Before I got to LA I had talked to agents, scoured craig’s list and other rental sites.  They all seemed super expensive and were in unfamiliar areas.  My nightmare would have been getting hosed on a place that was in the wrong end of town.  It’s so hard to see what a place or area will really be like when you get there.  They never show the huge rat standing up in the corner when they take those thumbnail shots to rent the place.

My friend gave me a no brainer suggestion.  Ask friends who had lived there before for insiders that might have a place.  This idea turned out better than I ever could have expected.  A friend of mine had lived in Hollywood for a bit and he set me up with an awesome friend.  I now got an entire guest house in a trendy Holly-hood that I would have never found.  There is a Melrose Place feel to the place with great neighbors that all are in the arts field.  There isn’t a pool so no risk of wedding dress fights ending up in it too.  The place is also a great deal.  I’ve already decked it out with furniture and I’ll share my tips on decorating a new place on a budget next blog so stay tuned. Win to the power of 4.

Insiders are the way to go for saving money on a place and getting the best possible area with amazing people.  Exactly what someone needs when they move to a new city.  I’ve already hung out with some of my new crew and it has made meeting new people really easy.  They’ve also been showing me fun places to hang out or grab something to eat that make LA already feel a little more like home.

Keep loving your money and it’ll love you back with a sweet Casa!

Dave

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I’m moving to California for a few months to support my US book launch and I’ve been purging things that I don’t need for the trip.  I’ve been choosing just one of three pairs of sunglasses, just a handful of favorite tops, just my most flattering jeans, my coziest sweaters etc.  The amazing thing that I’ve noticed is that my picks are just the the items that I wear day to day anyway.  My favorite things are the items that make me feel the best, look the best and that I get the most wear out of.  ”If I don’t do a bit of a strut in it – ditch it!”  That was my battle cry.

Why have three pairs of sunglasses when I only really wear one pair?  If I had saved the money on the other sunglasses, sweaters I don’t wear of jeans that sit in the corner of my closet, I’d be sitting on a nice pile of cash. If I only have one pair to look after, I won’t lose it either.  Plus, I’m only getting any pleasure from the clothes that I wear.  Clothes in the back of my closet don’t contribute to me feeling like a million bucks when I’m walking into a power meeting!

Purging feels amazing!  I had friends go through them, I sold the hipster coveted items to the funky thrift store and the rest went to the Sally Ann!  It feels awesome to be lean and mean stuff wise.  I’ve still got the clothes that I feel amazing in and I even made some money and helped out some folk.  What is more of a win win than that.

I feel like having lots of stuff around makes me feel cumbersome in life.  There is nothing better than feeling light and fancy free of things.  Things really are just things.  We load clothes with so many emotions. Rebound skirt, muscle shirt, break up jeans, or fat pants.  They’re just clothes.  And by ditching them that don’t make you feel 100% is like ditching all of those negative feelings you  associate with them.  Off you go weekend warrior baby-t.

Choose your favorite things and pitch the rest.  You’ll feel like a million bucks everyday and streamlined.

Have an awesome week,

Dave

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Hey Everyone,

Since my first print run in May I’ve already almost sold out of my first edition!  Thanks for everyone who has bought a copy. I really appreciate your support.

I’ve heard from the book store managers that the first print edition appreciates the most.  So my advice this week is to run out and get one of the last copies for the holiday, friends, kids, Nana and Papa! There are very few left so grab a first edition and profit!  :)

Here is where to still get a copy.  The second print is coming in two weeks!


Book City

348 Danforth Ave, Toronto

1430 Yonge St, Toronto

1950 Queen Street East, Toronto

Nicholas Hoare

45 Front Steet East, Toronto

Ben Mcnally

366 Bay Street

Books For Business

120 Adelaide Street

Indigo / Chapters:

Montreal (St. Catherine St.)

Woodbridge

Yorkdale

Yonge and Eglinton

Bayview Village

Thornhill

Square One

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