A penny saved is a penny earned.

Paradise is where I want to be...the road might be stormy but some somehow I am going to get there

Our days are surrogated between work and non-work days.
We surround our life by the 8 hours we are at work and then 2 weeks that come after when its payday.
We calculate at the mall if we can afford certain things or we have terrifying thoughts when we see our bills come in the mail.
Face it, money devours us. We are a prisoner to working, using, obtaining and saving money.
I had a chance to discuss with PC, Accountant and Personal Investor, on her views of the financial industry regarding our society today.

She starts off by stating she hasn’t been active in her personal blog as she would like due to the market turning on her the last few days, so she has to decided to keep a low profile.
Ms.Chiam, falling into the young adults’ category, started to realize she needed to save money at an early age.
“My parents taught me the value of money. Spending is easy but making money is hard”.
She points out that when you start out in the workforce it is usually because you have expenses to be pay. The current minimum wage is $8 per hour. One hour of hard work can easily be spent on a combo meal at McDonalds and eaten in a matter of minutes. Sometimes you just have to evaluate the pros and cons of buying something. She asks us, is it really worth it?
As we start to acknowledge that there are faster ways to obtain money than just our job, we see that stocks is often profitable and trendy. Ms.Chiam is a holder of many stocks and helps us understand the game of risk.
“Stocks are not for those whose faint at heart. Stocks are very volatile investments.”
Stock (Wiki):
The stock or capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors. Stock is distinct from the property and the assets of a business which may fluctuate in quantity and value. The stock of a business is divided into shares, the total of which must be stated at the time of business formation. Given the total amount of money invested in the business, a share has a certain declared face value, commonly known as the par value of a share.
Every trading day, it’ll either go up or down in value. You want to pick the right stocks in your portfolio so that it will grow substantially. There are different types of stocks that you can invest in that can offer low or high risk. Find out what you risk tolerance is and invest in a stock that you believe in as you will become an owner of that company. Ms.Chiam thinks the most attractive quality of investing in stocks is because in the long run, stocks averages a higher return than all other investments like safer investments such as bonds, GIC and mutual funds.
Of course , we are not just money greedy, we have plans for all these funds we should be receiving! Ms.Chiam’s ultimate goal is to be financially free.
“I don’t want to have to work a 9-5 job. My goal is to retire early and enjoy what life has to offer without worrying if I can afford this or that”.
Yet if the case was that everyone was good at saving money, we wouldn’t have debt or worries. Where are our mistakes? Ms.Chiam suggests that we are inundated with advertisements on a daily basis luring us to buy products we don’t necessarily need. A lot of people end up spending more than their current wage. Can you really afford this?
“Managing money might be a chore to a lot of people but if you keep your finances in line, you’ll find yourself being able to enjoy life as it comes to you instead of worrying about the next bill.”
Does this mean we can’t shop at all? There are alternatives! Ms.Chiam suggests to never pay full price for an item because they are always marked up at a very extravagant value. She keeps an eye out for sales and suggests to flip through newspaper flyers to look at what is on sale and clip coupons to save money. Other great alternatives are sites like www.redflagdeals.com and www.smartcanucks.ca that offer a variety of tips and deals.

Perhaps you think you have a knack for her numbers and finance but you are unsure about the details? Ms.Chiam states that by her own personal experience, Accounting is by far the most demanded job in society. There are different levels of accounting that pays in different tiers.
“Invest in yourself. Go get an education in the field that pays you well for what you do.”
Of course now I can’t resist to ask her what her personal philosophy is in finance and why? She responds with adamantly with
“Save as much as possible! I do not waste on frivolous stuff, if I did, I’d be broke!”
Living from paycheck to paycheck is not healthy or a long term plan. It is better to have a surplus and be comfortable knowing that you have an nest egg to fall back on if you run into trouble. Everyone wants to be rich not poor. In this society, money is a way of life.

At this point, I need some insight on stocks. As a beginner, I ask what motivates you to keep investing and which one has been your most successful? She shares with me that a very risky penny stock called Great Quest Metals Inc trading on the Toronto Stock Venture Exchange is her most successful.
“This stock made me quite a few bucks! It sky rocketed to 1000% at one point. While I do not suggest everyone should invest in penny stocks which are very risky but that has motivated me to finding the next big stock that I may come across”.
There are no rules when it comes to investing but always outweigh your risks to exposure. Sometimes, be a risk taker.

Ms.Chiam blogs frequently in detail about her stocks and personal experiences. Please visit her blog at www.agentfang.wordpress.com for a in depth look..
Through it all she uses it as a personal reference to track her failure and successes.

“I want to outline more in making the right decisions in picking a stock.  It’s almost the end of the year.  Time to really start planning what my goals are for 2011.  What steps do I have to take to make more money than to lose it all?  I’ll probably be more upfront with my current portfolio and the debt I carry to fund my stocksWe wish you the best and most luck in all your stocks and look forward to following your advice for more money!

**If you would like to get into stocks but don’t have the money to invest, try virtual stocks. www.howthemarketworks.com
This allows you to play with virtual money but having real time numbers.

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