The Fourth Pillar Is On Her Way!

by Mike Holman

I thought it would be interesting to give an update on a few of my old posts as well as a bit of news.

After ranting about the fact that we still use pennies, Ram from Canadian Capitalist mentioned using a coin star machine so I took all my pennies and nickels over to a local machine and got rid of them all! They do charge 10% but who cares? I still have a lot of dimes but I’m planning to roll them if I can find some dime rollers, however they might end up in the CS machine as well.

I wrote a book review on James Grant’s “Money of the Mind” a while back. This book dealt with the problem of financial institutions becoming too lax in their lending standards when times are good and when things go south then they lose a lot of money, get too conservative and won’t lend any money for a while. Sound familiar?

And one other update – in my Chasing China post I described how I sold my China mutual fund even though it was doing very well because it didn’t fit with my style of investing. Since I sold it the fund has gone up 48% over the last ten months. But I’m not (very) bitter and it still doesn’t fit with my investing style!

And as for the title of the post…

I’d like to announce that we are expecting our second child next year. We’ve had a great time (so far) raising our son and we are really looking forward to having another kid.

Not sure how much this will impact our finances since we really didn’t have to pay for much of anything with our son. We kept all of his clothes and will undoubtedly start receiving shipments of used little “girl” clothes any time from friends and family.

The only expenses I can think of off hand are a new bed for our son since the new baby will get his old crib and eventually a second car seat once she grows out of his old newborn car seat.

Perhaps this will lead to a second baby expense theme entitled “Costs of having a second child?”?

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