A mortgage meltdown is what happens to nice people when the dream roof over their heads costs more than they can afford. Now I’m not squawking about that whole subprime lending mortgage mess, but rather the case when well-intentioned folk go to the bank to get a regular mortgage and fail to add up all the real costs before moving in.

For most of us, our mortgage represents our biggest debt and the only kind financial experts consider good debt. But an over-your-head mortgage is one of the quickest routes to serious financial trouble, or even bankruptcy!

So before looking at current mortgage rates or shopping for that perfect home, perhaps take a second, chill out, and consider these 6 surefire ways to avoid a property with a mortage that leaves you in the poor house. Avoiding a mortgage meltdown and living in a home you can afford is preferable.

1. Crunch ALL the numbers.

It pays to crunch ALL the numbers and know ALL the costs before viewing homes and falling in love with a property. A too-high mortgage coupled with unaccounted for monthly costs could leave you resorting to credit cards and lines of credit to pay everyday expenses – a downward spiral that could cost you thousands in interest. And forgetting to add up all the costs of property ownership could leave you scrambling for extra cash.

So before setting foot in any property find out all the costs, even hidden fees, and do the math with a simple Mortgage Calculator.

Don’t Forget These Costs or Fees:

• Buyer’s or seller’s taxes
• Property taxes
• Paperwork filing fees
• Lawyer, realtor, banker, or land transfer fees
• Condo fees
• Maintenance costs
• Utility costs
• Parking costs

Also, don’t be afraid to see the impact that various mortgage rates have on your monthly costs by using the Mortgage Calculator. You’re less likely to feel the chill of a mortgage meltdown if you face the financial facts and crunch the numbers.

2. Practice Your Mortgage

Knowing what you can afford could spare you financial catastrophe in the future. An excellent way to see how a mortgage feels, and to know if you can truly afford it, is to practice paying it before you buy. Seriously.

How to practice your mortgage:

Pay your landlord your rent, and then take the difference between that amount and your anticipated mortgage cost and put this additional money into a high- interest savings account to use later for your down payment.

If you can’t come up with this additional monthly cash, then you know the mortgage price is too steep and you need to either continue saving for a bigger down payment or look at lower-priced homes.

3. Get a Home Inspection

Getting a home inspection done before you make an offer on a home may be the best money you ever spend. A home inspection costs around $500 and uncovers unseen problems that may cost you thousands of dollars down the road. A home inspection also serves as a negotiation tool with sellers, as they may fix flagged issues or reduce their selling price. Take the time to find the right home inspector, and be aware that it might not be the one your real estate agent recommends. Check references, ideally from homeowners who have been in their home for a few years so that any potential troubles have surfaced.

4. Don’t Buy Someone Else’s Renovation

Falling in love with the seemingly fresh look of paint, new flooring, or a freshly planted garden can be a financial disaster if the structure of the home is not sound. The previous homeowner may be trying to disguise something that really needs an expensive repair underneath. Be sure to look past a new bathroom or kitchen renovation and learn what lurks beneath the surface. You may discover that new plaster and paint are a facade disguising mold, water damage issues, or a cracked foundation. These repairs could cost you thousands and make your dream home a nightmare.

5. Buy a Smaller Home

Palatial palaces cost big bucks in terms of buyer’s fees, down payment size, mortgage interest, home maintenance (don’t forget lawn care), and utilities. Buying a smaller home can reduce all of these costs. For example, let’s assume you pass on a $300,000 mortgage in favor of a less expensive $275,000 loan. The mortgage price difference of $25,000 is substantial indeed. Assuming a 25-year mortgage at a 5% interest rate, your monthly payment is around $150 less, saving you a total of $18,844.26 in interest over 25 years, compounded monthly. Add it all up, and a $25,000-less-expensive home saves you $43,844.26 in interest plus principal on the mortgage. And this calculation doesn’t even include closing fees and maintenance costs! With all this saved money why not retire a year sooner? This is the new math, people. Need more incentive to play with the numbers? Try the Mortgage Calculator!

6. Negotiate Your Mortgage

Don’t be afraid to shop around and ASK for a better deal. Asking for a better mortgage rate is free and could save tens of thousands of dollars over the years you live in your home.

But before sitting down with a prospective mortgage lender, get your credit score so you know where you stand. You can find your score online for around $25 at Equifax or TransUnion or write in and get mailed your credit report for free. If you have a good credit score then be set to bargain. Ask lenders for a better mortgage rate, shop around, and play multiple offers off each other. A half a percent rate reduction could save you thousands over the span of your mortgage, so it’s well worth your time.

If a lender offers you perks like gift certificates for furniture, loyalty card points or a trip, take a pass. These so-called perks come at the cost of a higher rate. If the banks are not budging on their offer, consult with a mortgage broker. Mortgage brokers are paid finder’s fees by banks and these fees generally do not differ from bank to bank, so the broker has limited incentive to act outside your best interest, thus finding you the best deal possible.

Final Thoughts

These six surefire steps spared Carl and me from buying a toooooo expensive property while living in the uber expensive Canadian city of Vancouver, B.C. years ago. In fact, after running ALL the numbers and crunching the hard financial facts we opted against home ownership and continued renting our affordable apartment. This single decision was heart breaking since we both wanted to own our home and had a solid downpayment – but the math just didn’t work in our favor. In hindsight I’m relieved we continued along the renting path and saved more money until we were in a better position to buy in another, less expensive, city. For us, putting emotion aside and letting the numbers keep us sane saved us from a mortgage meltdown.

Got some additional tips for avoiding a mortgage meltdown? Got a mortgage story?

	397 Ways to Save Money Spend Smarter & Live Well on Less By Kerry K. Taylor

You might just be surprised with how much interest you’ll be paying with the wrong mortgage rate or be buried by the debt of a too pricy piece of property. It pays to do the math before falling in love with a home.

Use the Mortgage Calculator to:

• Learn how mortgage rates impact your mortgage payments.
• Evaluate if you’re ready for a mortgage refinance.
• Calculate monthly, weekly, or twice weekly payment schedules.
• Calculate mortgage rates, total payments, and total interest paid.
• Run the Mortgage Report to see how changing payment schedules lessens (or increases) the amount of interest paid.
• Make smarter financial decisions based on hard financial facts. You can’t argue with the mortgage calculator numbers.

How to use the Mortgage Calculator:

Step 1. Open the Mortgage Calculator.

Step 2. Mortgage Amount: Enter the total amount for your mortgage (for example: 325000).

Step 3. Term: Enter the length of the mortgage term. From the drop-down list, select the term duration (for example: Months or Years).

Step 4. Mortgage Rates: Enter your current mortgage rate.

Step 5. Payment Period: From the drop-down list, select the preferred payment period (for example: Monthly, Twice Monthly, Every Two Weeks, or Weekly).

Step 6. Click Calculate. Mortgage payments and mortgage rate results are calculated and display below. View number of mortgage payments, total mortgage paid with principal and interest, and total mortgage interest paid.

Step 7. Click View Report. A detailed Mortgage Calculator Interest Report opens.

Use this Mortgage Calculator Interest Report and Amortization Table to better understand the impact of current mortgage rates, to see how changes in mortgage payment schedules can lower or raise your interest costs, and to do the math before buying a too pricey piece of property.

Carl and I made this Mortgage Calculator just for you, so give it a try and use it as tool to keep you mortgage smart. Because banks are rarely our friends when it comes to signing up for a mortgage I think it’s best to take the initiative and DO THE MATH before shopping for a home or signing up for that so-called sweet mortgage rate. Lastly, before signing on the dotted line be sure to consider your total consumer debt and add your debt repayment to your monthly costs. You don’t want to get sunk by your dream home and turn the roof over your head into a nightmare.

	397 Ways to Save Money Spend Smarter & Live Well on Less By Kerry K. Taylor

Since last week we boasted about our Best Financial Decisions, let’s go deep this week and squawk about the dark stuff many never mention. Let’s look at our money mistakes and consider the lessons learned from our financial folly. Your comment may just spare someone some grief.

Question: What were your worst financial decisions?

Fox’s Answers:

1. Years ago, I did not take responsibility for my own finances and deferred investment choices to a “Financial Planner” (sales person).
2. I did not understand the funds the “Financial Planner” sold me.
3. I did not understand the massive impact that mutual fund fees, called management expense ratios (MERs), would have on my returns.

Fox’s Lessons Learned:

• Since no one cares more about my money than me, it is my responsibilitiy to learn about how to invest and understand the costs of investing. I have also found that learning about personal finance and investing is neither scary nor hard. It’s just takes some time and effort.

Your turn! Share your financial mistakes by Squawking Back!

	397 Ways to Save Money Spend Smarter & Live Well on Less By Kerry K. Taylor

Since the market has gone bonkers, or argumentatively into a bear or recession position, some fund companies have touted these inverse ETF products to get investors thinking about market opportunities. Could inverse ETFs be the solution to protecting one’s portfolio in a bear market and help one profit from market down swings? Or are inverse ETFs just a bunch of marketing muckity muck hype?

Let’s consider the following: what are inverse ETFs, why would one invest inversely in the market, and should you invest in inverse ETFs?

What are Inverse ETFs?

Inverse ETFs are a type of investment which sells like a stock or conventional exchange traded fund. Unlike conventional ETFs which move with an index, inverse ETFs track the reverse, or opposite, of the market.

Inverse ETFs are also called Short ETFs or Bear ETFs since they “short” the market to make money when the market goes down and provide a way for an investor to make money in a falling “bear” market. For example, an inverse ETF tracking the S&P 500 will do the opposite of that index. If the S&P 500 goes down 3 percent, the fund will increase by 3 percent. If the index goes up 3 percent, the inverse ETF will go down 3 percent.

Some inverse ETFs work at a multiplier greater than 1X. For example, if an inverse ETF works at a 2X multiplier, then the ETF moves twice the opposite of where the market moves.

Inverse ETFs can invest in broad market indexes, such as the NASDAQ or Russel 2000. They can also be bought to focus on specific sectors, such as financial, energy (oil), or consumer staples. Investors who purchase inverse ETFs do so to “hedge” their portfolios against falling prices.

To learn more about regular ETFs:

• What are Exchange Traded Funds?

Reasons to Invest in Inverse ETFs (PROS)

Here are some positive aspects of inverse ETFs:

• If the market falls, you win! Profit from a decline in the value of an underlying benchmark. Who doesn’t like to make money when the market falls?
• Go short without a margin account. Since inverse ETFs are traded just as normal ETFs, they allow an investor to go “short” to some extent in any trading account. So you don’t need to have a margin account to take advantage of short positions. Although, if you’re savvy enough to want to go short in a market, you probably should be able to get a margin account anyways.
• Hedge investments. Many investors look to purchase inverse ETFs to hedge their portfolios against falling prices.

Reasons to Avoid Inverse ETFs (CONS)

Here are some negative aspects of inverse ETFs:

• If the market rises, you lose! When a bear market turns upwards, then you lose moolah.
• Betting against the market. Over the long term, history has proven the market trends upwards. So inverse ETFs are going against strong historical market data.
• Requires market “timing”. Inverse ETFs need to be purchased at the top and sold near the bottom to be profitable, especially since over the longer term markets trend upwards. Are you clairvoyant? Can you predict the bottom accurately enough? Think again!
• Expensive. Shorting stocks to do the reverse of an index requires more active work for the fund manager than passively tracking an index. Because of extra active management, inverse ETFs have higher management expense ratios (MERs) than standard ETFs. These little fees consume profits and principle if you’re not mindful of the true overall investing costs.
• Cannot “set it an forget it”. Since the market trends upwards, you cannot buy and hold inverse ETFs. You need to monitor and micromanage your portfolio.
• Newer and unproven. Conventional ETF funds have been around for decades. Inverse ETFs have not. How do these funds perform under a variety of market conditions and how do they fit into a good balanced portfolio? What are the tax implications? These are things to consider.
• Shorting restrictions. Recent market issues have caused regulators to introduce restrictions on shorting certain stocks. Will these restrictions be expanded? What effect will this have on the performance of inverse ETFs? (source)
• Complex investments. Reading about shorting, hedging, and the calculations that go into inverse ETFs is mind boggling. I strongly believe an investor should understand what s/he is invested in before plunking good money into a fund. If you don’t “get it”, then don’t buy into it. Yes, buyer beware.

Where to Find and Buy Inverse ETFs

Here is a list of some companies selling inverse ETF funds for both American and Canadian markets.

American Markets

ProShares: fund information

• ProShares Short Dow 30
• ProShares Short S&P 500
• ProShares Short Nasdaq 100
• ProShares Short Russell 2000

Rydex Investments: fund information

• Rydex Inverse 2x Russel 2000
• Rydex Inverse 2x S&P 500

Direxion Funds: fund information

• S&P 500 Bear 2.5x Fund
• NASDAQ 100 Bear 2.5x Fund
• Small Cap Bear 2.5x Fund

Canadian Markets

Horizons BetaPro ETFs: fund information

• HBP S&P/TSX 60 Bear Plus ETF
• HBP S&P/TSX Capped Energy Bear Plus ETF
• HBP S&P/TSX Capped Financials Bear Plus ETF

What the Experts Say!

Here are some technical sources and expert insights on Inverse ETFs.

• A Closer Look at ProShares Inverse ETFs | Seeking Alpha
• Shorting the Market with Inverse ETFs | The Motley Fool
• ProShares Ultra Inverse ETFs | The Big Picture
• Inverse and Leveraged ETFs | Canadian Business
• List of Inverse ETFs (Short ETFs/Bear ETFs) | Trader Mike

Your Turn!

Got any experience with investing in inverse ETFs? Got an opinion? Feeling bearish? Would you invest in inverse ETFs? Do share and comment!

	397 Ways to Save Money Spend Smarter & Live Well on Less By Kerry K. Taylor

Where have you excelled financially? What have you done to be in a good financial position? Perhaps your comment will help someone find their financial way in this crazy a$$ed market.

Question: What were your 3 best financial decisions?

Fox’s Answers:

1. I paid off my student debt in six months.
2. I invested in low fee index funds and exchange traded funds.
3. I bought life insurance without getting screwed.

Your turn! Share your financial wisdom by Squawking Back!

	397 Ways to Save Money Spend Smarter & Live Well on Less By Kerry K. Taylor

Just say no to a diet rich in cat food in your later years by contributing to your retirement today.

	397 Ways to Save Money Spend Smarter & Live Well on Less By Kerry K. Taylor

1. Invest It: index funds or ETFs

Yes, I know I keep squawking about index funds and exchange traded funds (ETFs), but I truly believe tracking an index is the most cost effective and wisest way to invest one’s dollars. Simply put, you cannot underperform an index and this form of passive investing keeps costs low. I figure since I index, I will not be paying an expensive mutual fund manager to sail a yacht whist pretending to have market clairvoyance.

I’ve written an article describing the differences between Index Funds and ETFs. I’ve also reviewed and compared two very popular index funds in the article: ING Direct Streetwise Funds Vs. TD Index e-Series Funds. Indexing is easy, cheap, and smart. I’ll stop squawking about indexing, for now.

2. Invest It: low cost mutual funds

If you’re really not interested in indexing and investing for yourself, then perhaps invest in a diversified portfolio of low cost mutual funds. This form of active management won’t cost (anywhere near) as much as the “big bad banks” or all those companies who constantly advertise on TV. In fact, you’ve probably never heard of the mutual fund companies I am about to list. The truth is some mutual fund companies actually want to keep costs low for investors, and choose not to advertise for this reason. I figure, why should I invest my retirement dollars with those banks and fund companies just to pay for their advertising? Forget it! Here are some awesome options:

• Phillips Hager & North: Depending on the selected fund series, you’ll need a minimum of 5K to start an account at PH&N. I’ve been an investor at PH&N for several years and have loved their high-level of customer service and LOW fees. Recently, the Royal Bank of Canada (RBC) bought PH&N, so who knows what will happen to fees in the future. Sigh. For a comparison, their Balanced Fund costs 0.88% per annum.
• Leith Wheeler: Since 1982, Leith Wheeler has provided Canadians another option in no-load, low fee mutual funds. To start investing here you’ll need 10K to open an account. For a comparison, their Balanced Fund costs 1.10% per annum.
• Saxon Funds: Of the three fund companies listed, Saxon Funds is the most expensive no load, low fee mutual fund company. To begin investing you need 5K to play. For a comparison, their Balanced Fund (F-Series) costs 1.18% per annum.

3. Park It: high interest savings account

Sometimes you just can’t decide where to invest your retirement dollars. For those of you looking for a liquid and risk-free place to park some cash, perhaps consider renting a spot in a high interest savings account. Don’t stay parked in these spots too long though as investment savings accounts barely beat inflation in the long term. Here are three of my favorite savings accounts:

• PC Financial: President’s Choice Financial offers an “Interest Plus RRSP Savings Account”. You will need to maintain a balance of over $1,000 to get PC’s best interest rate and an anniversary bonus.
• Achieva Financial: Maybe you haven’t heard of Achieva Financial? Well, let me introduce you to this division of Cambrian Credit Union in Manitoba. I’m not sure what’s in the Manitoban water, but credit unions in this fine Canadian province boast the highest interest rates in the country. Achieva’s “RRSP Savings Account” is an awesome option for those who want the best interest rate on parked retirement cash.
• ING Direct: The big orange machine that is ING Direct Canada hasn’t been too competitive with their interest rates in the past few years. They do offer an “RSP Investment Savings Account (RSP ISA)” for those who like the color orange though.

View all current interest rates before moving money to a savings account.

Happy RRSPing!
fox

	397 Ways to Save Money Spend Smarter & Live Well on Less By Kerry K. Taylor

I moved my account to PH&N several years ago to take full advantage of PH&N’s LOW LOW LOW mutual funds fees. Keeping fees low is very important to me. This news strikes terror into my heart and my account, here are my fears:

• The new RBC/PH&N will raise mutual fund fees.
• Current PH&N funds will be deprecated and unit holders moved or sold into higher MER funds.
• Unit holders will be convinced to move their investments to RBC’s more expensive offerings.
• The awesome level of customer service I received every time I called PH&N will be no more. I HATE how big bad banks make me go through endless phone list options until I speak to someone (usually more clueless than I). Also, PH&N’s customer service was always outstanding, helpful, and knowledgeable.
• The transparency PH&N boasted will be no more.

Quoted from the Phillips, Hagar & North announcement: (source)

We are proud to announce that PH&N is joining forces with RBC Asset Management. While this will open doors to many opportunities for our clients over time, it’s business as usual for our firm, our clients and our employees. The same PH&N people are in place, and there is no change to our funds, our fees or our investment approach.

Anyone else out there affected by this? Will you keep your investments with PH&N?
I need a drink.

	397 Ways to Save Money Spend Smarter & Live Well on Less By Kerry K. Taylor

All these fees are a thing of beauty for mutual fund companies. These companies love-love-love fees for the same reasons you should hate-hate-hate fees. Fees cost you big bucks. Fees earn mutual fund companies HUGE bucks. So what’s a little investor with a little cash to do? The answer is simple, consider index funds or exchange traded funds!

Check out the Mutual Fund MER Calculator to tally the true costs of fees. You will be shocked!

Definition of Index Funds

Index funds are a type of mutual fund that tend to be managed by a computer, and are therefore a form of passive management. There’s no manager actively watching over these funds and getting paid for trying to be smarter than the market.

Index fund assets are invested to replicate an existing market index such as the TSX, S&P 500, or MSCI EAFE. Over time, lets say 10ish years, index funds typically outperform the majority of actively managed mutual funds. How is this possible? How can a computer, with very little education and financial know-how, beat all these highly-paid money managers? The answer is simply — cost. Most active fund managers cannot overcome the handicap of high operating expenses that pull down a fund’s rate of return.

For example, an average Canadian stock mutual fund has a management expense ratio of 2.50% per year while a low cost Canadian stock index fund costs only 0.30% a year. The difference is a whopping 2.20% advantage for the index fund. Wouldn’t you rather keep that extra growth in your portfolio? I know I sure would.

Index Fund Advantages:

Cost: The lack of active management (stock picking, buying, and selling) in an index fund gives it the advantage of lower fees and lower taxes. Also, you don’t pay broker fees to buy and sell index funds, which is a huge advantage for those investors with smaller portfolios and those who invest on a regular basis. Paying broker fees can very quickly eat up you portfolio!

Passive Tracking: Does it seem strange that all mutual fund returns are compared with an index as a reference point? The sad truth is not many mutual funds beat the index. So why not just track the index and pay a whole lot less?

You Cannot Under Perform the Index: Since index funds track the index, you really cannot under perform the index like so many actively managed mutual funds.

Index Fund Disadvantages:

What’s the downside of investing in an index fund? Well, there are a few index funds disadvantages, they include:

Company Dominance: The biggest downside of investing in index funds is if/when just a few large companies dominate the index. Canadians saw this happen in 2000 when Nortel Networks Corp. expanded rapidly and accounted for about 30% of the S&P/TSX index. Those investors in index funds at this time lacked portfolio diversification with so much of their investment tied to the outcome of one single company. When the tech market melted in 2001, so did the portfolios of many Canadian equity S&P/TSX investors.

Tracking Errors: Some people argue it is impossible to precisely mirror an index with 100% accuracy. Computers react to market fluctuation, sampling and mirroring techniques are not perfect. The difference between the index performance and the fund performance is known as the “tracking error”.

Where Do I Buy Index Funds?

These days low cost index funds are getting popular, and rightly so. Big players like ING Direct, TD Canada Trust, and the Canadian Imperial Bank of Commerce (CIBC) all offer different flavors of low cost index funds.

One thing to watch out for though are packaged portfolios of funds. A packaged portfolio of funds is a number of index stocks and index bonds diversified into a managed portfolio. Basically, you pay a lot more in fees for someone to put together an asset allocation of stocks and bonds for you. You’re much better off just buying each individual index fund yourself and creating your own asset allocation.

I talk about doing this in my post comparing ING Streetwise Funds with TD e-Series Funds. To keep things simple, the best index fund offering the lowest fees is the TD e-Series Funds.

To buy index funds, open an account with a discount brokerage.

Definition of Exchange Traded Funds

The definition of exchange traded funds is simple. Exchange traded funds or ETFs are baskets of securities which track the performance of a stock, bond, or commodity index. Unlike index mutual funds, ETFs are similar to stocks. ETFs trade on the stock market, have ticker symbols, and are only available though brokers and discount brokers.

Exchange Traded Fund Advantages:

Flexibility: Exchange Traded Funds combine the benefits of index diversification, low operating costs, and have trading flexibility of individual stocks.

Cost: ETFs also tend to have lower fees than index mutual funds. Lower fees are a HUGE plus if you have a larger portfolio to invest.

Exchange Traded Fund Disadvantages:

There are a few exchange traded fund disadvantages. They include:

Brokerage Fees: The biggest disadvantage to investing in ETFs are broker fees. To buy and sell an ETF you could pay as much as $30. This cost can add up if you buy and sell frequently, or have a smaller portfolio to invest.

Where to Buy Exchange Traded Funds?

The biggest ETF player in Canada is the Barclays exchange traded funds, iShares. The biggest player in the US is Vanguard. ETFs can be purchased though any discount brokerage account, including: TD Waterhouse, BMO InvestorLine, CIBC Investor’s Edge, Royal Bank Action Direct, Interactive Brokers, TradeFreedom, Questrade, and many more.

Index Funds or ETFs: How to choose?

Choosing between investing in index funds and ETFs is really a matter how often you invest and how much you invest. Simply, if you’re like me and invest frequently (monthly even), then you should consider index funds to prevent paying considerable brokerage fees every time you buy.

Index funds cost a little more to own due to higher MERs, but the broker fees can outweigh the lower MER advantage of ETFs. If you invest once-a-year, than consider investing in ETFs.

Final Thoughts

I do sincerely hope your mind is open to lowering your investing fees by considering index funds or ETFs for either your retirement (RRSP, 401K, or Roth IRA, Traditional IRA) or your non-registered portfolio, such as your Tax-Free Savings Account (TFSA).

Questions and Answers:

• Where are the Exchange Traded Funds TD Bank? (these are actually index mutual funds, not ETFs)
• More about ING Direct Streetwise
• Where are the Canada Trust eSeries Funds Fees? It’s TD Bank who offers eSeries Funds.

	397 Ways to Save Money Spend Smarter & Live Well on Less By Kerry K. Taylor

I wanted to create a calculator to show you how those hideous management expense ratio fees (MERs) can eat up your mutual fund portfolio returns, year after year.

My hope is you will save big investment bucks tomorrow by learning how your fees eat into your returns today.

Use the Portfolio MER Calculator to:

• Tally the average MER for your portfolio.
• Tally how much you pay yearly (or dearly) for the total funds held in your portfolio.
• Tally how much you pay for each individual fund based on its percentage in your portfolio.
• Run reports to see the big fee picture.

To use the Portfolio MER Calculator:

1. Open the Portfolio MER Calulator.
2. In Total Portfolio Value: $, enter the total value of your portfolio in dollars (for example: 25000).
   
3. Enter the Fund Name, MER, and the Portfolio % this fund comprises in your total portfolio.
   
4. Click Add Fund to add a new line and to continue building your portfolio.
5. Continue entering fund data until you have entered 100 percent of your portfolio value.
   
6. Click Calculate. Your portfolio Average MER and Yearly Expense displays.
   
7. Click View Report. A detailed report displays and outlines the cost of each individual fund. Use this report to make better informed decisions when buying mutual funds.
   

Let me know what you think!

	397 Ways to Save Money Spend Smarter & Live Well on Less By Kerry K. Taylor