blog, blogging, budgeting, money

Fall Budgeting*

Now that it is officially Fall , this is the perfect time to look over your finances and look to make sure your budget works for the next few months.  Since the holidays are coming up this is the perfect time to set a budget for upcoming holiday expenses.

A lot of banks have special holiday accounts that you can put money into for holiday spending. First, if you have kids your kids will need costumes for Halloween which have gotten pricier over the years. If you can’t save for that look to get creative and make a homemade costume. Thanksgiving ,depending on if you are hosting or going to someone else’s home, can be pretty costly. Look out for all the different deals at your local grocery stores and look to utilize coupons to help save money. For Christmas, which can be the most costly holiday of the year should most definitely be budgeted months beforehand so you do not have to go into debt by using credit cards to afford presents for others. With all the holiday events that occur, it is easy to drive yourself into debt.

The best thing to do is get ahead of the curve. The holidays occur every year at the same time so it should be no surprise at the expenses that can pile up. Make a plan now so the holidays don’t become stressful or affect your financial standing.

blog, blogging, money

WEEKLY MARKET RECAP

Red hot sector.

This week the cannabis sector has been on fire. Stocks such as Tilray, Canopy Growth, Aphria & Aurora have been gaining momentum this last month as Canada prepares for legalization of recreational marijuana on October 17,2018. Also , with whispers of larger tobacco, alcohol and pharmaceutical companies looking to enter the sector expect a lot of interest in these stocks.

Is it too late to get in the game? I don’t believe so. I believe a stock like Tilray , which has reached a high of $300 recently is way overpriced but there are other companies I believe still has lots of room to grow. Aurora, Hexo & Aphria are 3 marijuana stocks that aren’t as pricy as Canopy Growth or Tilray but have long term potential.

Aurora Cannabis is looking to uplist to US markets next month but at this time trading OTC under ACBFF. Also, their earnings date is coming up 9/25/18 so there is time to purchase some shares and receive possible future gains. Also , with recent whispers of large beverage companies looking to partner with the company, I think this stock is fairly undervalued when compared with the other stocks in the sector.

Hexo (Hydropothecary) is also a reasonably priced marijuana stock. They currently have a joint venture with Molson Coors. At a price under $7.00 there is still time to hop on the cannabis train for a decent price.

Aphria is also one of the top 5 Canadian marijuana companies and has the potential possibility of being picked up by a beverage, tobacco or pharmaceutical company.

I listed some of the different stocks in the sector and believe there is a lot of potential for high long term gains. Remember, this is a new sector so expect a lot of volatility in the short term. If you are risk-averse these stocks may not be in your best interest. If you are okay with high risks, high rewards, I suggest you research some companies and look to invest.

DISCLAIMER*** I do not associate or work with any of these companies. I recommend you do your own research or contact a financial/wealth advisor if you need assistance in deciding if these stocks are right for you.

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Growth Stocks.

As a 28 year old millennial looking to increase my net worth I have been researching sectors that have future growth potential. I currently have a brokerage account and Roth IRA with E*trade and have chosen high risk stocks with long term potential. The stocks I have are considered high risk because they are in fairly new sectors or young companies. Since I am young and have years of investing ahead of me, it is safe for me to have a higher risk tolerance vs someone who is close to retirement. I also have a traditional 401k/Roth 401k with my employer so I am able to utilize my personal account with E*trade to have a much more aggressive portfolio than I have in my employee sponsored retirement account.

 

My goal is to retire before the age of 45. If I am able to acquire a certain amount of wealth by 35 to where I have enough passive income to live on I would consider leaving the work force sooner to pursue my own passions. At this time, my investment accounts include young companies in the marijuana/cannabis sector such as Canopy Growth, CV Sciences Inc and others. I also have invested in Chinese companies that are still fairly young. Bili , Uxin & Huya are a few of the companies I have decided have the possibility of providing high returns in the future. As you know with investing nothing is guaranteed so doing as much research on a company and reviewing their financials is extremely important.  I do have other stocks in my portfolio and will continue to give updates on the blog and give my stock picks each month.  I am not day trading or holding for the short term. A famous phrase by one of the most brilliant investors Warren Buffet said “The stock market is a device for transferring money from the impatient to the patient.”  I believe the stocks I have chosen will be what we call “multibaggers” in the future.  A multibagger is a stock that provides returns over 100%. At this time CV Sciences Inc, which is my stock of the month, has provided me with a return of over 100% so it would be considered a two-bagger stock. When you invest in stocks that are considered risky you must be able to handle the volatility of them. If seeing a possible 20% or more drop in price of a stock causes you angst even when the fundamentals of a company remains in tact, you may not be able to handle the risks. If you decide to choose a blue chip stock, like Coca Cola, expect a less volatile stock but average returns. You wouldn’t expect to have increasingly high returns with those stocks.

If you are new to investing and looking to grow your money look to companies that have growth potential. Visit financial sites, online financial message boards and learn as much as you can. The sooner you start the better. Time is everything with investing and if you have years to hold stocks that have good fundamentals you will almost always be guaranteed a high return.

 

blog, money

Traditional university is not the only path to success

The student loan debt in this country is over $1 trillion dollars. Is it even worth it to go to college anymore? It really depends on the person and their career trajectory. Let’s be honest, not everyone is good with traditional schooling and this should not determine your future success. If you aren’t academically successful there are plenty of other options available if you do your research. Trade schools are one of those options. I feel trade schools aren’t recommended as much as they should be especially to students struggling academically and frustrated with traditional schooling.

 

Trade Schools

Trade schools can provide you with a career path that pays well. There are plumbers who start their own business and make over $100k a year. If you know regular school is not your strong suit and you are more handy or like to work with your hands think of enrolling in a trade school. This doesn’t make you less than anyone else. Knowing your strengths and weaknesses is a major factor in finding what works for you long-term. If your high school offers classes like auto shop or even home economics, take those courses to see if it is a career path you will like to embark on. Remember that starting life with a plan is the first step to success. If you do decide to go to a trade school be on the look out for apprenticeships. This will offer you the on the job training necessary to begin your career.

Here’s a list of a few different trades:

Construction

Electrician

Plumber

HVAC technician

Auto body Repairer

Welder

Automotive Mechanic and more…

***A construction manager average hourly salary is $47.84 with a top-end hourly pay over $76.12. (Salary information from : https://www.trade-schools.net/articles/trade-school-jobs.asp).***

 

The average trade school degree costs $33,000 compared to an average $127,000 for a bachelor’s degree (The average factors in schools that are lower cost and schools with significantly higher costs which may bring up the average).

I want to make it clear that I am not discouraging going to an university especially if you are successful academically & know exactly what you want to do because some fields require you have an undergraduate or graduate degree. In addition, not everyone has to go into debt to accomplish getting their degrees which I will go over in my next blog post.  There are many different ways to lower your financial burdens & also ways to avoid student loans completely. It’s time to take accountability for the debt we take on especially with the student loan debt at such a high amount. If you don’t want student loan debt to be the reason you can’t buy a home, can’t save or can’t invest it’s time to look at other options.

 

 

Motivation

Do I really need this…?

This is a question I heard my mother say out loud plenty of times growing up. I would go shopping with my mother and as she pushed the shopping cart to the checkout she would begin to question if she needed all these items she picked up. She still asks that same question today.

How many times have you gone into a store and put things in your cart you didn’t necessarily need? You spend more money than you planned to and end up wondering what happened to your money. To avoid unnecessary spending try making a list at home or in your phone of the things you need and stick to it. Having a list in front of you will help you avoid adding items to your cart you didn’t actually need.

So next time you have a cart full of items , stop and and ask yourself “Do I really need this?” If not, put back what’s not needed, add up those prices and put that extra money you would have spent away in your savings.