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Journal Club 10/22/21 | Passive income MD


This is Journal Club 10/22/21! I stop every week JOURNAL CLUB. After filtering the articles on the web, I present some that have had an impact on my life this week. Be safe and stay healthy!

  • You have probably heard the saying – “Money can’t buy happiness”. The author of A thrifty girl disagrees with this and believes that money can help us have fun and feel happy. Don’t you want to agree? Well, the author discusses the concept of “fun money” and gives tips to make room for some fun and excitement in our budget and our lives – What is fun money and how much do we need?
  • Last week I came across a touching story KevinMD by author Yoojin Na – an emergency doctor. This piece talks about the widespread but silent struggles of young and experienced doctors that sometimes leave them mentally and emotionally vulnerable. Here the author shares an important message gathered through various life experiences in the article – We don’t have to be heroes.
  • Early retirement – words you keep hearing are like a bag of mixed feelings. For some, it is the freedom to pursue their lifelong passion, while a handful “equate it with laziness”. Hearing a wide range of responses from different faith camps on the subject encouraged the author of Fire and wide to dig deeper and find out what ‘work’ really means in the article – Early retirement: how do you define work anyway?

That’s all for this week! I hope this week’s Journal Club has been helpful.

Do you read exciting articles? Please write them in the comment below!

Thanks for reading and sharing!


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What does “out-the-door” price mean?


The outside price of a car is the amount you would pay to walk out the dealer’s door with key in hand.

Whether you are a seasoned buyer or a first-time buyer, the chances are you heard the phrase. The external price, sometimes abbreviated as OTD, includes all taxes, fees and extras.

When writing a check, the outside price is the amount you would enter. When you take out a loan, the amount you borrow and the outside price would be the same. The out-the-door price is a single number that usually includes:

  • Vehicle sales price.

  • Dealer added extras, often listed on a window sticker.

  • Guarantees, Gap insurance and other financial products that you consent to purchase.

The external price does not include the insurance costs or the interest that you may pay over the life of a loan.

The outside price paints a clear picture of what you are buying. If you go to the dealership and focus solely on your monthly payment or don’t pay a specific fee, you may be overlooking the real price of the car.

Use the outside price when negotiating

Car dealers and sellers are very familiar with the term and its content.

When you buy a new or used car, negotiate in terms of outside price rather than discussing every single item or extra. At the end you write a check.

You can agree on the external price with the sales team and will then be handed over to the tax office, which will offer you further financial products. If you accept them, they will be added to the open air price.

Another reason to use OTD in your negotiations is that it can keep temptation at bay. Without a full picture of long-term costs, you could be tempted to fund a more expensive car.

For example, a monthly payment of $ 500 at an annual rate of 6.61% means you can fund $ 2,038 for 48 months – but $ 29,651 if you expand to 72 months.

That sounds great until you compare how much interest you would pay: $ 2,961 vs. $ 6,348.

How to calculate an out-the-door budget

The calculator below turns a monthly payment into a budget that you can use when you submit an application pre-approved loan.

Once you see what your payment can buy, add up a cash deposit or the value of your trade-in (make sure to subtract your debt, if anything) to get yourself a standard figure to shop for.

Vehicles are rarely advertised at the external price. A good guideline is to subtract at least 10% from your shopping budget to allow for fees and taxes.

If you don’t remember anything else at the dealer, remember your outside result.

Life Insurance and Trusts: Power Tools for Estate Planning


What’s the best investment? The one most worth when it is needed most. Life insurance often fits this profile, especially when it comes to financing inheritance tax and family wealth planning. And trusts bring flexibility, performance, and precision to life insurance so that it benefits those who have the protection they deserve. This session provides an overview of the characteristics of a well-designed, well-managed life insurance policy and how to use trusts to maximize financial results for the family. Finally, we will think about how to keep the plans on track in light of the upcoming tax reform.

This session includes:

  • An overview of well-designed, well-run life insurance
  • How life insurance trusts can be used to maximize financial results for customers
  • A discussion of trends and upcoming tax reforms that could affect policy

Further education (CE) and legal further education (CLE) credits: CFP, CIMA®, CPWA®, CIMC®, RMA® and AEP® CE credits have been applied for and are still pending.

This webinar is sponsored by Life Insurance Trust Company (LITCO), the only trust company in the industry exclusively focused on life insurance trusts. LITCO provides ILIT trustee services for grantors and beneficiaries that go beyond the typical corporate trustee services. LITCO is a subsidiary of ITM TwentyFirst, which has always provided services to existing life insurance policyholders, including trustees (banks, trusts, lawyers, family offices) and institutional policyholders (private equity firms, banks, universities and foundations) for over 20 years Years.

Funded by

Leon Wessels – host
Business Development Manager
Trust company for life insurance

John Barkhurst – host
Sr. New Business Development Manager
ITM TwentyFirst

Kristin Bulat – presenter
SVP Strategic Resources
NFP & partner finance

Kenneth R. Samuelson – presenter
President and CEO
Morehead group

Susan Lipp – presenter
Trusts & Estates

How to start a lip gloss business


If you are looking for a sideline that will combine your do-it-yourself skills and creativity, a lip gloss store is the place for you.

Is Lip Gloss Selling Profitable?

Selling lip gloss has three key things that work in its favor.

First, the startup costs can be low. Lip gloss startup kits can cost less than $ 100 if you know where to look, and these kits contain everything you need to get your private label up and running.

Note that if you are looking for higher quality products you will pay more money, but even then the cost / benefit ratio is reasonable.

Second, it’s relatively easy to create your own lip gloss. You don’t have to pay for tuition and you usually get it right on the first or second try, which means no supply is wasted.

Third, the lip gloss business is a growing industry.

According to Grand View Research, the lip care industry reached a valuation of $ 820 million in 2020. Grand View Research predicts the industry will grow to $ 1.17 billion by 2025. In other words, sales are increasing.

Why is the lip care industry trending?

One of the reasons the lip care industry is growing is because people are looking for more variety.

Some important changes are taking place in the industry, according to the Grand View Research report.

For one thing, consumer demand is changing. People are now looking for natural components in their lip care products, including beeswax, essential oils, aloe vera extract, green tea extract, and shea butter, to name a few.

People are also looking for something more in their lip care products, such as sunscreen.

The market is also expanding. Men are starting to look for personal care products, including lip care products.

These changes are things to consider as you start building and growing your lip gloss brand.

Homemade lip gloss business types

One of the great things about the lip gloss business is choosing to create a type of gloss that speaks to you.

Makeup brand L’Oreal has a breakdown of the types of lip glosses you can create for your brand, including:

  • Transparent lip gloss – Transparent lip glosses “… often offer a light shade or are clear, so they are perfect for rounding off a lipstick that has a more colorful effect.”
  • Pigmented lip gloss – “Shimmer-free, but just as shiny as any other lip gloss, [pigmented lip glosses] ensure strong color that doesn’t last as long as lipstick. “
  • Shimmering lip gloss – “Packed with finely ground shimmer, [the shimmer lip gloss] This kind of lip gloss was a staple in the early 2000s. “
  • Glitter lip gloss – Glitter lip gloss is a bit chunkier than shimmer lip gloss, but it also has a lot more shine.
  • Matte lip gloss – No shine, just a matte finish.

Things You Need to Start a Lip Gloss Business

Once you’ve decided what type of lip gloss to create, it’s time to gather the ingredients. The Naturally Handcrafted blog says you will need:

  • Grapeseed oil or olive oil;
  • Coconut oil;
  • Cocoa butter (if you want your lip gloss to have a chocolate flavor) or shea butter;
  • Beeswax;
  • Vitamin E Pills (should be D-Alpha Tocopherol Vitamin E, which is natural);
  • Lip gloss tubes / containers;
  • Mica powder (the color depends on what color you want to use for your lip gloss);
  • Essential oils (the scent depends on how you want your lip gloss to smell).

You might also want a double boiler, but you can use a glass measuring cup and saucepan of water to achieve the same result.

Naturally Handcrafted also has a recipe and step-by-step guide to get you started on your lip gloss journey. You can find it here.

Create your own line of lip gloss

Now that you’ve made your lip gloss, it’s time to create your brand.

Possible names for your lip gloss line

The first thing you need to do is come up with a name for your lip gloss brand. If you are at a loss, there is a lot of help available.

Marketing branding agency Soocial brainstormed and created a list of 469 possible names for a lip gloss brand. Even if some of the names are already taken, you’re sure to find one you love.

The Biz Name Wiz site has compiled a list of more than 1,000 other potential names.

When you find a name you like, google it. If nobody has it, grab it yourself.

Legal requirements for starting a lip gloss line

The Food and Drug Administration (FDA) is the federal agency that oversees the cosmetics industry. While you don’t need to register your line of lip gloss with the FDA before putting it on the market, you need to adhere to FDA guidelines.

Guidelines include making sure your cosmetics are unadulterated and free from fake brands. They must be labeled accordingly with all the ingredients listed. If you add color additives, the additive must be FDA approved and you must use it as intended.

The FDA has compiled questions and answers for people looking to sell homemade cosmetics. I suggest you read it before you start labeling and selling your products. You can find it here.

Do I need a business license to sell lip gloss?

In addition to the FDA regulations, you also need to consider the basic business needs of your new line of cosmetics.

For example, do you need a trade license? Some states require you to have a trade license and some do not. Usually the answer depends on whether or not the state collects sales tax.

If you need more guidance, I’ve investigated the problem in this post here.

Do i need insurance to sell lip gloss?

The blog Modern Soapmaking has taken on this topic. While the site specializes in soap, it has also looked into lip gloss and balm. The bottom line is that you need product liability insurance.

“Product liability insurance protects you from claims against you as a manufacturer and seller of your products, including soaps, lotions, lip balms and more. It is a common misconception that if you properly formulate your products you don’t need product liability insurance because nothing can go wrong, ”writes Modern Soapmaking.

Get insurance. Don’t stop your business before it starts.

Lip gloss business

Branding your own lip gloss line

Now that the legal issues are cleared up, it is now time to start thinking about branding your lip gloss business. You need to create a logo that people will associate with your business.

You will also need to create stickers that you will apply on your lip gloss. These stickers contain your company logo, all ingredients of the lip gloss and other requirements of the FDA. Even if you haven’t read the FDA questions and answers, read them!

You can find it here.

Where to sell your homemade lip gloss

Now that your lip gloss is packaged and ready to go, you now need to find some customers.


You can sell your lip gloss locally. That said, you’ll visit local beauty salons, talk to other artisans, and attend local events to promote your brand.

The advantage of selling locally is that you get involved in the grassroots. You will meet with your customers in person and receive instant feedback on your brand and products.

The downside is that building such a brand takes a lot of time.


Your other option is to sell your products online. For a small extra charge, you can create a website and online store, and then market your brand on social media like Facebook, Instagram, and Pinterest.

If you’re not sure how to start an online shop, turn to a pre-built marketplace like Etsy to sell your products.


There is also the hybrid option which can offer the best of both worlds but also requires more work for you as a small business owner. You can create an online store, but you can also attend local events to promote your product.


Whether you sell online, locally, or both, running a lip gloss business can be a very fulfilling and profitable sideline.

Having your own lip gloss line doesn’t cost a lot of money and is relatively easy to learn. As you get better and your sales increase, you can increase your production accordingly.

Like many of the small businesses we offer, a lip gloss business can be as much or as little as you want. It all depends on how you incorporate it into your lifestyle.

Related posts:
Best Etsy shop ideas for 2022
How to Sell Digital Wall Art on Etsy

Latest posts by Erike Towne (See everything)

17 companies with childcare allowance


Whether you work full-time or part-time, being a parent who works outside of the home is difficult.

Add in the stress of finding and paying for reliable childcare to fit your work schedule, and it can be utterly soul-consuming.

The Penny Hoarder recently surveyed 2,000 parents about the cost of childcare, and around two-thirds of respondents said they would consider moving to a company that offers childcare support as an employee benefit.

Strict daycare regulations and high overheads make free on-site childcare a no-go for most businesses, but some businesses know that the key to happy employees is helping them balance work and life with childcare services bring to.

17 companies with childcare allowance

Here are 17 companies that are getting it right in helping companies with childcare – and a bonus because … well, you’ll see.

1. Clif Bar & Company

Clif Base Camp is an aptly named on-site childcare center for the company that sells organic food and beverages for athletes. The center is operated by the KinderCare childcare chain and is also open to employees working for LeapFrog and other companies at the EmeryTech business center in Emeryville, California.

2. Aflac

The duck-loving insurance company is also involved in family care programs, including on-site childcare at its headquarters in Columbus, Georgia, or grants for daycare for employees in other locations.

3. Goldman Sachs

Investment banking firm Goldman Sachs opened its first on-site daycare for employees in its New York headquarters in 1993. Since then, the company has opened on-site daycare centers in London, Jersey City Tokyo, Bengaluru and Salt Lake City Offices.

4. Publix

This Florida-based grocery empire shows its commitment to helping working families by providing on-site childcare at its headquarters where parents can take time each day to come to the center and have lunch with their children.

5th city

While this financial institution doesn’t offer full-time on-site childcare, it knows that unexpected situations arise. The bank offers substitute care for children at participating Bright Horizons day care centers. The company also offers student discounts for full-time childcare at Bright Horizons locations across the country and help with finding a babysitter or nanny.

6. SAS Institute

Eligible employees at this software company’s North Carolina headquarters can access subsidized on-site childcare, replacement childcare services, and even an on-site summer camp program.

7. Intuition

The staff at this personal finance software organization have several options when it comes to childcare. Intuit offers replacement care for short-term needs, discounts for ongoing childcare, resources to help staff find babysitters or nannies, and flexible spending accounts to cover expenses with tax-free dollars.

A little girl is carrying her owl-shaped backpack.
Getty Images

8. General mills

This food company is about more than cereal and ice cream. Headquartered in Golden Valley, Minnesota, offers on-site childcare for babies aged 6 weeks to 16 months. The center is operated by the Bright Horizons childcare chain.

9. The summit center

As one of the largest recruiting organizations in western New York, this nonprofit takes childcare seriously by providing on-site childcare at its headquarters in Getzville, NY.

10. Intel

This technology company works with local daycare to offer employees discounts on tuition fees and priority places at nearby daycare. It also offers supportive care and flexible hours for working parents.

11. Patagonia

The outdoor apparel company has been providing on-site childcare at its headquarters in Ventura, California since 1983. It also provides on-site childcare at its distribution center in Reno, Nevada.

12. Bank of America

Bank of America puts its money where its mouth is in helping its employees juggle childcare. The bank reimburses eligible employees up to $ 275 each month to offset childcare costs. The company also offers 50 days of replacement childcare and a parenting referral program to find childcare in their area.

13. Microsoft

Microsoft offers several solutions for parents who need to look after their children. The company offers subsidized and discounted full-time childcare, replacement childcare, and flexible schedules.

14. USAA

This military community insurance and banking company has an on-site childcare center at its headquarters in San Antonio, Texas. The center is operated by Bright Horizons and looks after toddlers through to pre-K students. The company also operates childcare centers near its offices in Colorado Springs, Tampa, and Phoenix. Other employees nationwide can benefit from priority access to participating daycare centers.

15th Carnival

It’s no surprise the staff at this cruise line are on board with the childcare allowance. The company offers full-time childcare for parents from newborns to pre-K children at its Miami headquarters. It also offers backup childcare and a summer camp option.

A kindergarten teacher teaches music to children.
Getty Images

16. Google

The technology giants of Silicon Valley are known for their lucrative perks and Google is no exception. The company provides on-site childcare and replacement care to its employees in Mountain View, California.

17. Best buy

The electronics retailer offers several benefits to support working parents. Eligible employees receive 10 additional days of childcare per year, with each visit costing just $ 10. The company offers discounts on all-day childcare, pre- and post-school programs, and tutoring. Best Buy also works with Wellthy to go out for the care and support.

Bonus: Purina

Animal parents also need support! Employees at this pet food company can take their Furbaby to work every single day. It’s perfectly fine for them to nap under your desk all day, unlike a human child.

Nicole Dow is a senior writer at The Penny Hoarder. Former staff member Lisa McGreevy and former editorial intern Hayley Gonzalez contributed to this post.

What if you ignore collection agencies?


Ignoring Collection Agencies | National debt relief

We are all guilty of this: a big problem arises and instead of facing it directly, we avoid or ignore it in the hope that it will go away on its own.

When your finances are deeply behind and Debt collector calling, it can be tempting to just ignore them. But is that a good strategy?

To ignore Debt collection calls They are unlikely to go away. But you have rights in dealing with Debt collector This can give you air to breathe as you try to figure out some options for yourself Debt relief.

What is the Fair Collection Practices Act?

Debt collector are individuals or organizations who collect debts on behalf of others. If you are late with your bills for an extended period of time, yours is creditor can set a Debt collector Track payment.

When collectors approach you, they must not violate certain laws. In particular, they must adhere to federal rules Fair Collection Practices Act (FDCPA).

the Federal Trade Commission enforces these rules that say the Debt collector must not engage in abusive, misleading, or unfair practices.

You have the right to receive specific information about the debt collection company’s claim. According to the law, the collector must give you the name of the original believer and the amount you owe.

The collection department must also inform you that you have the right to contest the claim and that if you do not do so within 30 days, the Debt collector assumes the guilt is valid.

If you dispute the claim in writing within 30 days, Debt collector must offer Review of guilt.

Such a review may include:

  • A copy of your bank statement showing the balance you owe
  • A copy of the original credit agreement
  • Other documents or information

Debt collector you are allowed to call home or send letters, e-mails or SMS to collect a claim. However, they are not allowed to contact you before 8:00 a.m. or after 9:00 p.m. or at work unless you give them permission.

the Consumer protection office recommends if a Debt collector Contacting them by phone first, insist that they contact you in writing before continuing to speak to them.

Additionally CFPB says you should never give personal or financial information Debt collector unless you are sure they are legitimate.

When you communicate with a communicate Debt collector, keep a good record of all your interactions. This can include:

  • Originals of all letters or documents a Debt collector sent you
  • Copies of everything you do about a. send Debt collector
  • A record of the date and time of conversations and notes related to your communications

Can I a. to ignore Debt collection agency?

What options do you have in dealing with Debt collector?

If you believe that you do not owe all or part of the debt, write a letter to them Debt collector that explains this within 30 days of your first contact with the collector. At this point the Debt collector cannot contact you or attempt to collect the claim until they have provided you with written confirmation of the claim.

Not sure what to say in your letter? the CFPB has sample letters on its website that you can use when creating your own letter.

Even if you know you owe the debt, you can still end it Debt collector‘S tries to contact you.

The FTC notes that when you send a letter to the Debt collector and ask them not to contact you anymore, they have to. They can only contact you to confirm that they will not contact you in the future or to let you know if they intend to take certain actions against you, such as: B. to file a lawsuit.

If you choose this route, the FTC will ask you to send the letter by registered mail and pay for a “return confirmation” so that you can prove that the person collecting your letter received your letter.

The Risks of Ignoring ADebt collector

Just because you can ignore a Debt collector doesn’t mean you should, whether or not it is Credit card debt or any other Kind of guilt that you owe.

If the debt is not yours, it is far better to tell so Debt collector than ignoring the problem.

If you legitimately owe the debt, it also makes sense to be proactive with that Debt collector. Choose to work with the Debt collector gives you the opportunity to reach an agreement that is more favorable to you.

If you can’t afford to pay the debt in full, check out the Debt collector is open to an alternative payment arrangement that will give you more time. Or see if the Debt collector will agree to accept less than the full amount of the debt.

Also remember that if you insist, just try that Debt collector, it is unlikely to be your problem. Instead it is Debt collector may use more aggressive tactics to get you to pay. This can even include filing a lawsuit against you.

Help in dealing with AD. Looking forebt collector

To ignore Debt collector rarely leads to a good result and can cause your credit-worthiness take a hit. If you are afraid of your debt or that Collection of debts Process is preventing you from facing your problem, seek help.

You can reach out to a nonprofit credit counselor who can help you explore your options. Or hire a lawyer to help you legal advice about dealing with the debt. The legal counseling center in your community can help you find out if you are entitled to free legal advice.

When you hire a lawyer, Debt collector is required by law to contact the lawyer about your debt instead of harassing you.

Finally, you can use the services of a Debt settlement Companies to help you get rid of debt once and for all.

Preventing Abusive Conduct by Debt collector

Debt collector must follow certain rules when pursuing debtor. Debt collector can only pursue a debt for a certain period of time, which varies from state to state. As soon as the Statute of limitations have passed, they are “statute barred” to sue you for payment. Just be aware that in some states, making a payment or even a written confirmation of your debt will restart the business Statute of limitations Watch on the debt.

Additionally, Debt collector cannot engage in certain behaviors, including:

  • You threaten physical harm
  • Use offensive or profane language
  • To lie to you in any way, including about the amount of money you owe
  • Disclose your debt publicly

When a Debt collector If you violate any of these rules, you can report the collector to the FTC CFPB, or your state Attorney General.

At National Debt Relief, we pride ourselves on empowering people to regain their financial stability through our proven debt relief program. Contact us and speak to a financial professional who will work with you to find the best option to pay off your debt and help you achieve financial independence

Save € 245 this Christmas with a Boundless membership!


Reading time: 4th Minutes

Boundless is a public service and public sector members club that provides the best money saving deals, deals and perks to those who work in these sectors. Boundless has rewarded workers for their hard work for over 98 years and has spent that time enabling them to make the most of their free time.

To complement this amazing rewards program, Boundless has announced four new benefits for its members and their families and friends to enjoy. These include: Kids Pass, Dine and free access to the Wildfowl and Wetlands Trust (WWT) and the beautiful Kew Gardens and Wakehurst. With these new offers you can save a total of € 245 *!

In addition to the club’s already impressive list of activities, getaways, vacations, and group activities, these new deals promise to bring much-needed affordable and magical moments into everyone’s life after some tough years.

What’s in a Boundless Membership?

Family with unlimited membership

For just £ 29 a year, Boundless membership has great deals, getaways and activities for the whole family. You can find deals and savings from top brands like ASOS, Apple, Wickes, and Virgin. The website currently has 190 offers that can save you money.

Whether you’re taking a day out or looking to buy the coat you’ve got your eye on, Boundless will help you save hundreds of pounds. Take a break from the hustle and bustle of everyday life with a wonderful 20% discount on great UK getaways.

With just over two months to go to Christmas, there’s no better time to plan wonderful ways to entertain the family this Christmas season. Plus, it really doesn’t seem to be losing anything with the announcement of four new free membership benefits.

Child pass

The Kids Pass is an exciting new addition to the Boundless membership. This offers over 2,000 wonderful savings! This includes day trips to zoos and aquariums as well as all of the UK’s major theme parks.

Some offers are even completely free for children! There are also many “kids eat for free” offers that you can enjoy in your favorite restaurants.

Wildfowl and Wetlands Trust (WWT)

If you love the outdoors and want to get away from the hustle and bustle of everyday life, you can enjoy the extensive nature reserves across the country.

Thanks to WWT, you can enjoy these magnificent reserves at no additional cost! As part of your Boundless membership, you get free family entry for two adults and up to six children.


Before Boundless, family outings could seem daunting as people weren’t sure how much it would all cost. It used to be stressful to pay for with activities, travel and food.

But not anymore. Eating out doesn’t mean you have to spend hundreds. Thanks to Dine, a Boundless membership entitles you to impressive discounts in all of your favorite restaurants.

These discounts include offers like 50% off and 2-4-1 on main meals.

Do you fancy a pizza or an appetite for Peri Peri? You can enjoy discounts at thousands of restaurants and cafes across the country. There is also a focus on local and independent venues.

Kew Gardens and Wakehurst

Why not make it a magical Christmas and take a trip to Kew Gardens or Wakehurst? With Boundless, members benefit from free, unlimited entry to both beauty spots. You will also receive an additional 50% discount on entry for one adult guest and free entry for up to five children.

You can also benefit from a 10% discount in the souvenir shops. It’s the season of giving, after all!

There are 320 acres of flora and fauna in Kew and an incredible 500 acres of diverse woodland in Wakehurst. The whole family can explore the beautiful landscape. Let yourself be enchanted by the beauty of nature and learn more about the biodiversity in both places.

You will also appreciate the work done at these locations to protect the earth’s fragile ecosystem.

Comments from Limitless

Darren Milton from Boundless says: “We are excited to offer our members new fun and inventive ways to enjoy the precious time they spend away from work and with their families and friends.

“Our members have worked particularly hard over the past 24 months and we want to give them the opportunity to switch off and make memories with the people who matter most to them.”

Please visit for more information on membership and all of its offers

* Savings based on a comparable membership offer at RBG Kew, Kids Pass access, Dine access and an equivalent sample entry offer at WWT Martin Mere. Terms and conditions apply. Visit

Please note that this is a paid partnership between Boundless and MoneyMagpie.

Disclaimer: MoneyMagpie is not a licensed financial advisor, and therefore the information contained herein, including opinions, comments, suggestions, or strategies, is for information, entertainment, or educational purposes only. This should not be viewed as financial advice. Anyone considering investing should do their own due diligence.

Horizons launches new active emerging markets ETF


With a management fee of 0.75%, HEMC aims to provide long-term capital growth by investing in shares of issuers that are based in or have economic links with emerging markets.

The ETF has a strong focus on stocks that Mirae Asset expects to benefit from rising consumer trends and growing individual purchasing power in emerging markets, resulting in a portfolio that is more focused than most strategies that rely on emerging market indices.

“Most of the emerging markets exposure to the Canadian ETF market is through broad index strategies,” said Hawkins. “[W]he indexing brings some cost and liquidity benefits, emerging markets are an area where we believe an active portfolio management team can … add real value to long-term performance. “

Traditionally, emerging market economies have been heavily focused on commodities and industrial sectors, but that has changed in the past decade. In the course of this time, many leading companies in the developing world – especially China and India – have moved into more consumer-oriented economies with large technology and service sectors.

“Historically, Canadian investors have shied away from emerging market exposure because they already have significant exposure to raw materials and energy in Canada’s domestic equity market,” said Hawkins. “[I]Investors in emerging markets could lose much more potential for returns through important growth opportunities in technology and consumer-oriented industries that would not be easily accessible by investing in developed markets. “

What does it actually look like to “handle money well”?


People tend to talk about being financially savvy in black and white. Either you’re good with money or you’re not.

But as with most things related to your finances, it’s a little more complicated than that. You could be great at making money and terrible at saving it – or vice versa. You could have formidable net worth and terrible credit. You could be the world’s greatest budgeter and the world’s worst investor.

In other words, “being good with money” can mean many things. Let’s take a look at some of the most important factors to consider.

Metrics to Track

While there isn’t a single number that shows that you are good with money, there are some numbers that you can track to see how you are doing (Mint will track these for you):

Net worth

Your net worth is your total assets minus your liabilities. Assets include the money in your bank accounts, investment accounts, collectibles, home equity, and more. Liabilities include what you owe such as your credit card balance, car loans, student loans, mortgage balance, and more.

To calculate your net worth, add your assets and liabilities separately. Then subtract the liabilities from the assets. Don’t be surprised if your net worth is negative. That means you owe more money than you currently have. Graduates and young adults often have negative net worth, especially when they have a lot of student loans.

But as you get older, your net worth should increase as you reduce debt and invest consistently. Try to track your net worth a couple of times a year. You can make your own spreadsheet or use Mint’s net worth tracker.

“Over time, you will find that your wealth really starts to grow,” said Ryan C. Phillips, CFA, CFP and founder of GuidePoint Financial Planning. “The resulting success can be very motivating and will often lead individuals to save and invest even more.”


Your credit score shows how responsible you are as a borrower. Prospective lenders, utilities, cellular operators, auto insurers, and home owners will check your creditworthiness before agreeing to you.

A credit score does not take into account your savings rate or your investment performance, so it is not a holistic number. But it does show if you are good at borrowing money and paying it back. Even if you want to avoid taking out credit, you may still need good credit.

Achieve your personal goals

Managing money well does not mean achieving the same financial goals as everyone else. For example, many believe that owning a home is necessary to financial success, but if you move frequently for work, buying a home can have a negative impact on your finances every time. In this example, renting can be a better use of your money.

“Money is simply a tool that you can use to achieve your personal goals and live a simpler, happier, and more stress-free life,” said financial planner Kyle Simmons of Simmons Investment Management LLC.

Make a list of your goals, such as self-employment, traveling abroad once a year, or moving part-time. Then, think about how your finances can help you achieve these goals.

Monitor your expenses

Even if you are not on a strict budget, it is advisable to review your transactions at least every month. You will only notice fraudulent purchases, mistakes and unexpected expenses if you actually read your statements on a regular basis.

Ideally, you should know how much you are spending on key categories like housing, transportation, groceries, insurance, and entertainment. You should also be clear about how much you are saving and whether this savings rate is in line with your goals.

How to get good with money

Would you like to be better with finances? Here are a few starting points:

Start a budget

Creating and following a budget is one of the first steps in getting better with your finances. By creating a budget, you can reduce your expenses and increase your savings. You can start saving for long term goals like retirement or short term goals like starting your own business.

Use Mint to review your current spending and see where you can reduce debt and save more. Mint will notify you when you are almost over budget and almost reached your goals.

Don’t be afraid to invest

Paying off debts and saving money are relatively easy tasks for many consumers. If you want to pay off debt faster, just add more money to your monthly payment.

But investing is more complicated, so many consumers avoid tackling it. Unfortunately, if you don’t invest, you will never save enough to fully retire. Learning how to invest and what options are available is a non-negotiable aspect of money management.

Be ready to learn

The world of personal finance is huge and changing all the time. Investing in cryptocurrency was unknown to most people just a few years ago and is common practice today. Prior to the 2018 Tax Act, homeowners often had their tax deductions itemized. Now most consumers take the standard trigger.

Stay up to date on personal financial news by following personal financial influencers, reading financial publications like Kiplinger’s Personal Finance, and reading the latest money bestsellers.

If you want more personal advice, consider hiring a paid financial planner. You can find a trusted planner through the Garrett Planning Network, XY Planning Network, and the National Association of Personal Financial Advisors.

Getting good with money takes time

Since most schools don’t teach personal finance and many parents don’t talk about money with their children, it’s no wonder most of us leave home without the financial skills necessary for a secure future. “I think too many people say they’re good at money or not like it’s a natural skill, but it’s really something to work on,” said AllStreet Wealth’s financial planner Thomas Kopelman.

Finding out more about personal finances is like learning a new language. You would not be ashamed if you were not fluent in French after just a few lessons.

Author's photo

Zina Kumok (146 posts)

Zina Kumok is a freelance writer who specializes in personal finance. As a former reporter, she has covered murder trials, the Final Four, and everything in between. It has been featured in Lifehacker, DailyWorth, and Time. Read how she paid off $ 28,000 in student loans at Conscious Coins in three years.


Goto Energy Limited ceases trading


Households supplied by Goto Energy will be handed over to a new supplier that has yet to be reported. In the meantime, your supplies will continue as normal and the Energy Regulatory Agency Ofgem says all balances are protected.

Ofgem will now begin selecting a new supplier for the company’s customers. Once appointed, you will be contacted regarding the transfer of your account and told what happens next. Once your account has been transferred you can switch, although prices are currently at a record high due to unprecedented wholesale costs (the price utilities pay for gas and electricity), switching is unlikely to save you. But you can use our free Cheap Energy Club to check it out.

The news follows the outage of PFP Energy, MoneyPlus Energy, Utility Point, People’s Energy, Avro Energy, Green Supplier Limited, Igloo Energy, Symbio Energy, Enstroga, Pure Planet, Colorado Energy and Daglias, all of which have ceased trading since launch from September.

We have an analysis of the new business that customers of failed companies are being taken to in our bankrupt energy company? Comparison between your new deal and the MSE News story – we will update this as soon as we know the new suppliers for those who last went under. A total of around two million households have been affected by delivery failures in the last six weeks, and more are to follow in an extreme time for the energy market.

Check out our latest weekly email for the Energy Bill Crisis Q&A from founder Martin Lewis.

A new provider will be hired to take over your care – wait until they get in touch with you

If you are a Goto Energy customer:

  • You can’t save now anyway by switching now – but even if you could, you shouldn’t. While possible, Ofgem says that you should wait to be contacted by the new supplier in the coming weeks, otherwise you could have problems with your switch.
  • Take a meter reading. It is useful to have it ready when your new supplier contacts you. You should do this whether you are a credit meter or a prepay customer.
  • Download your energy bills / screenshot credits. When a company goes bust, websites can go offline. So go to the company’s website or app ASAP and get the information now so you have a record of it.
  • When a new supplier is appointed, you are promoted to a new deal – which will almost certainly cost more. Ofgem says it is likely that your current contract will end and you will be transferred to a special “recognized” contract (a plan that you did not choose). These are usually at the price cap, so your bills are likely to go up. However, there are currently no cheaper offers for new customers, so you will probably not save money by switching.

    While this may be frustrating, remember, if you had never switched, you would have chosen this plan anyway, and at least until now you’ve got a far cheaper plan than available – so overall, you’ve won, not lost.

The energy loan is protected even if you have recently left the company – so you do not lose any money that is owed to you

You may be owed money by Goto Energy once your account has accumulated funds. In this scenario, the supplier commissioned by Ofgem will pay you back all the monies owed to you – this also applies if you had already started the change before the company went down. The supplier commissioned by Ofgem should contact this to agree on a refund – even for those who have not switched to it – but this can take a while.

If you owe money, you probably have to pay it anyway. Payments are made either to the bust supplier, its manager, or to the new supplier. The new supplier will tell you how this works after the takeover.

If you are in the process of switching, your switch will still take place

If you have already started moving from Goto Energy, you will continue to move to the new provider you have chosen. You shouldn’t have to do anything. Your direct debit with your current supplier should be automatically canceled, but check anyway and if not, cancel it manually after the switch is complete. All outstanding credits will be paid out to you by the supplier appointed by Ofgem – see above for more.

If you are in the process of switching to Goto Energy, the switch should go as planned, although you will then be automatically switched to the new supplier that Ofgem will appoint.

There’s no need to cancel your direct debit, but it’s okay if you’ve already done so

You don’t have to cancel your direct debit immediately. Ofgem says your new supplier will be in touch shortly to explain how they will charge your account, including any direct debit schemes.

Ofgem says you can cancel your direct debit before the new provider contacts you if you want. If you’ve already canceled it, there is no need to reactivate it and your new supplier will explain what to do as soon as they get in touch with you.

What does Ofgem say?

Neil Lawrence, Director of Retail at Ofgem, said: “I want to reassure affected customers that they don’t have to worry – under our safety net we will make sure that your energy supplies are kept safe and you will get the money you owe will not lose. “

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