The Dummy Investor

07/06/2025

📱 📳 only see pears, go and invest some money. Otherwise invest some more money
🍐🍐 💰 🍐 🍏 💰 🍐 🍐
What do you see?

01/18/2024

Checking your credit score and credit report. There are three main credit reporting agencies (credit bureaus) in Canada, and the US. Equifax, TransUnion and Experian. These agencies are also in some European countries. Using these agencies to check your credit report is costly financially and also on your credit score. So avoid checking very often. Most financial institutions provide a soft copy of your credit report for free. This can be checked multiple times without affecting your credit score. Royal Bank which I bank with provides a soft copy for free. Mind you, the report with your financial institution does not get updated immediately after your financial transactions. It could take a month so be patient.
Check your credit report with your financial institution regularly to keep track of your finances.

01/18/2024

Do you know what's on your credit report? Do you know what bills you pay? Do you know all the loans you owe?
I once checked my credit report and found a fraudulent loan on it. Be proactive and check your credit report regularly. Be sure to do a soft credit check with your financial institution. Your credit report is your financial report card.
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01/17/2024

everything I share here on is based on my experiences, my successes, my failures and some research on my financial and investment journey. These are not financial advice but content for educational and fun purposes. My wish and prayer are that you learn a thing or two or at least be entertained. I also wish to learn a thing or two from you so please contribute when you can. Like and share when you can so others can learn and contribute as well. We grow by lifting others up.
Stay tuned for more juicy and exciting content.

01/17/2024

. The power of a good credit score. One of the most important financial tools for growing financially in the western world is a good credit score. Your credit score is what tells lenders how responsible you are with your finances. The following are the different credit score ranges

- 800 to 900. This is considered excellent and banks love people in this range.
- 740 to 799. This is considered very good
- 670 to 739. This is considered good and lenders view people in this range as acceptable lower risk borrowers.
- 580 to 669. This is considered fair. People in this range are considered higher risk and generally have trouble qualifying for credit.
- 300 to 579. This is considered poor. Individuals in this range usually have a very hard time applying for credit. You don't want to fall in this range.

Lenders give credit to individuals with poor or fair credit scores at a higher interest rate compared to individuals with a good and excellent credit score.
Not having a credit score is just as bad as having a bad credit score.
One of the best ways I have used to build a good credit score is using my credit card regularly and paying it completely off by the end of my billing cycle. Infact I use my credit card like a debit card. Every dollar spent is charged to my credit card.
Other ways I have used to build a good credit score;
- Paying my bills on time. Late payments can stay on your credit report for up to seven years. Setup automatic payments so that you don't forget.
- I only have as much credit as I need. You don't need many credit cards. One Master card and one Visa card is ideal. Having too many of similar credit products will put you at risk of getting into debts. What is more important is having a variety of credit such as credit cards, mortgages, personal loans etc and paying them on time.
- As mentioned above, keeping my balances as low as possible. If possible pay off before the end of your billing cycle. Avoid making minimum payments.
- Having a long track record. You are a good credit risk to lenders if you have a long and good track record of paying off your debts on time.

How many credit cards do you have? What are some of the tricks you use to build a good credit score?

Send a message to learn more

01/16/2024

Cutting your coat according to your size. To be financially successful, you have to live within your means. You have to budget. You have to invest. Don't live other people's lives. Keeping up with the Joneses can be very dangerous and unhealthy for your bank account. Life is a marathon and everyone is running in their lane with different sets of hurdles. Don't buy a big house when you can only afford an apartment. Don't buy a Mercedes Benz just because the Joneses own a Mercedes Benz. Be true to yourself and stick to a plan. Your time will come for that big house and the designer clothes and handbags. For now, stick to your financial plan.

01/16/2024

Frugality vs Yolo. You work hard for every dollar you own. Understand where it is being spent. Being frugal is very healthy but enjoy your money while you can. Yolo stands for You Only Live Once. As much as you want to invest and plan for the future, enjoy the fruits of your labor while investing. This life has no version 2.0. Allocate a budget for the thing you enjoy doing the most. If your thing is traveling, endeavor to travel as much as you can. If your thing is fine dining, enjoy your fine dining as much as you can. If your thing is nice cars, buy yourself a nice car.
I am the most frugal person you know but I enjoy the finer things in life too.

Be mindful of your needs vs your wants. Do you need a big house or you just want a big house? Do you need a Toyota Corolla or you just want a Mercedes Benz?
How frugal are you? Can you be frugal with a Yolo mindset? I think you can

01/15/2024

. Types of life insurance. Term, whole, universal, variable and burial life insurance. Pros and cons.
- Term is the most common and cheapest and the main purpose is to replace your income when you die so that your loved ones don't suffer the financial burden. Usually for a term of 1, 5, 10, 20 or 30yrs depending on your working years left. Premiums increase significantly at renewal due to age and risk factor

- Whole life insurance. For those who want a straightforward policy and can afford the higher premiums. Typically last your entire life as long as you keep up with the high but fixed premiums. Typically more expensive than term life insurance.

- Universal life insurance. Best for people who want permanent life insurance and can adjust to future needs. This type allows you to adjust your premiums within limit and has a cash value component that grows based on market interest rates. Your premiums increase over time. It is usually less expensive than whole life insurance and can be adjusted based on your changing life needs. The downside is that the death benefits and cash value growth are not guaranteed.

- Variable life insurance. Best for those with a higher risk tolerance who want control over their cash value investment. This type of life insurance is tied to investment accounts such as bonds and mutual funds. Premiums are usually fixed and the death benefits are guaranteed regardless of how markets fare. There is a potential for great gains if the backing investments do well. The downside to this insurance type is that it requires you to manage the policy because the cash value can change daily depending on markets.

- Burial life insurance. This is a small whole life insurance. This type is for people who want to cover their own funeral, burial and other end of life expenses after they pass on. Coverage is usually capped between $5,000 to $25,000

- Social insurance schemes. In Canada and the United States, Cameroonians run social insurance schemes geared at helping repatriate the remains of an individual after their passing. In Canada, there is RPN (Retour au Pays Natal). In the US there is SAGI.
With RPN, member's families receive a sum of $20,000 after their passing to help with repatriation and funeral costs. I think SAGI handles the repatriation and pays the bereaved family a sum of $5000 to help with funeral costs (not sure about SAGI payout amounts). With both schemes members pay less than $1 each time a member passes on.

Shop around for a good life insurance to get the best possible premiums. Talk to your financial advisor and or different financial institutions.

Are you a member of RPN or SAGI? Do you currently have any of the life insurance policies mentioned above? Do you know a good insurance policy provider with good premiums? Please share so we can benefit from it. I am currently shopping around for Whole or Universal life insurance.

01/15/2024

You can't talk investments and finances without talking Life Insurance. Life Insurance is a necessity. Don't wait to do gofundmes. If possible, get a policy that acts as an asset and pays out while you are alive. If you can pay for a phone bill or car insurance monthly, why can't you pay for life insurance? You are paying for car insurance with no guarantee of getting in a car accident. Death is guaranteed. Think again. Get life insurance.

Do you have life insurance?

Stay tuned for a deeper breakdown on life insurance.