It’s the long weekend! Louis Riel Day here in Manitoba, Family Day in other parts of the country, aaaaaannnddd….Spring Festival! Markets closed until the 24th. (Hope you sold.)
Happy Valentine’s Day!
Update on that credit card idea. how much interest would you have paid over the last 18 years? (Interesting to note that one of the websites I looked at differentiated between credit card balance and credit card debt - balances being less than $5000 and “generally small” and they pay them off every month. Then what are the other expenses?)https://clippingchains.com/2019/03/11/tracking-spendinghttps://clippingchains.com/2020/08/31/the-real-cost-of-home-ownership/
My input: “The $20,000 (with $15,000 of it charged at 24% interest, $5,000 of it charged at 0% except for a 1-time 3% administration charge) would be paid in minimum monthly instalments of about $250-$500 until the balance reached about $3000 CAD total at which point it would be paid off in total. This would continue for the last 18 years.”-Bear in mind, that money would/could be used to live in another part of the world, for travel, or as an emergency fund.-These numbers do NOT preclude the idea of contributing to savings as well.
Workout in! VERY FEW people in the gym this morning. EMPTY by the time I left (10.00am)
Pink as a calming colour? Never thought of it that way.
And the Reuben or the burger, which one was best? Tough call.
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Hope you have a great one!!
00:00 Opening Notes: Long Weekend, Gym Vibes & Quick Updates00:39 Winnipeg Weather Check + Festival Weekend Preview01:50 Louis Riel Day: Manitoba History in a Nutshell02:50 Spring Festival Timing + When to Watch the CCTV Gala03:42 What the CCTV Gala Is (and Why People Love to Hate It)05:35 Fireworks in Winnipeg?! A Quick Reality Check06:28 Spring Festival Traditions + China Market Closure & Make-Up Workdays08:15 Valentine’s Day Across Time Zones: Calling China from Winnipeg10:30 Credit Cards vs Houses vs Travel: The Money Question Returns14:19 Tracking Spending & “Good” Debt vs “Bad” Debt (Mortgage vs Credit Cards)18:44 The $20K Credit Card Scenario: Balance Transfers, Rates & Living Overseas23:14 Running the Numbers: Cycles, Minimum Payments & Interest Totals23:47 Credit Card Cycles vs Mortgage Interest: The Big Comparison24:24 Living Anywhere on 0% Liquidity: The Thailand/Singapore Angle24:55 “This Is What Banks Do”: Bonds, Debt, and Financial Shenanigans26:25 House Equity vs Freedom: What You Give Up (and Gain)26:44 Spend the Interest on Experiences: Travel, Skills, and Building a Product27:23 The ‘Museum of Cool Stuff’ Problem: Real Estate, Security, and Costs29:29 Rolling Debt + Savings: Subscription Logic and Cashflow Thinking31:32 Arbitrage Ideas & Side Income Offsets (and Why You Might Skip It)32:39 Use ChatGPT to Run Your Own Numbers (Not a Recommendation)33:38 Gym Check-In: New Year Crowds Fade + Today’s Chest Session35:49 Why Pink Feels Calming: A Coworking Space Conversation37:59 Reuben vs Burger (and Subway Cookies): The Winnipeg Food Report41:32 Final Wrap-Up: Links, Support, and Sign-Off
