Would you runaway?

The news about the New Zealand couple running away with several million had spread all over by now.

Interestly, there seems to be quite a bit of support for the runaway couple. There are even two Facebook groups created that support them – Go Leo Gao – Go You Good Thing! and We Support Leo Gao and his 10 Million Dollars – Run Leo Run.

The question I ask is not whether this is right or wrong or if you support is. The question I ask is…

If you had also gotten the money from the bank, would you choose to runaway?

For me, it is obvious that it is not worth it. First, there is the risk of getting caught. It is not likely that one can get away with something like this so easily. Secondly, even if I manage to get away at first, it will mean that I had to play hide and seek for, at least, an extended period of time if not my entire life, and that means I cannot even enjoy the money. Lastly, the instant money would not be something that I had earned myself and that simply takes away the entire enjoyment factor of earning it and thus no longer can I enjoy what I earn.

What about you?

Originally posted 2009-05-22 21:45:12. Republished by Blog Post Promoter

When Both Religion and Science are Strong

A friend sent me this quote last week:

Formerly, when religion was strong and science weak, men mistook magic for medicine; now, when science is strong and religion weak, men mistake medicine for magic.
Thomas Szasz, The Second Sin (1973) “Science and Scientism”

In follow up, I asked the question:

The quote was from 1973. So here we are in 2010, what happen when both science and religion are strong? Guess my answer :)

My friend is very nice and played along with me:

Awww… this is like a quiz at school!>.< Ummmm ... .... Religience or Sciligion as inter-disciplinary research? .... The (Wonderful) Wizarding World of Harry Potter? .... We think we know everything but we know nothing? did I get it? I want a prize if I got it right!

The last answer came very close, so I promised my friend half a price when we meet next :) The answer I had in mind was…

In 21st century, when both science and religion are strong…
…men mistake themselves for God.

Note: God meaning the omnipotent, omniscient grand father figure in the sky, not God as in the Tao, or Brahman or what not.

Originally posted 2010-06-27 21:23:17. Republished by Blog Post Promoter

Why Track Your Assets, Liabilities, And Cash Flow?

I frequently mention the importance of communicating with the “self” and understanding the “self” for the sake of personal development. Tracking your assets, liabilities, and cash flow is the equivalent for your personal finance. It is also imperative for solving your money problems and solving your money problems.

When you want to find out the health of a company, a division in a company, a deli at the street corner, or any other business, what do you do?

Interview their executives? No.
Simply observe their customer flow? No.
Based on reputation? No.

Ok, I know you are not that stupid.
You will look at their:
– balance sheet for total outstanding assets, long-termand liabilities, and short-term liabilities
– cash flow for revenue, fixed operation cost, variable cost, and essentially, profit.

If you want to know the health of your financial situation, you have to keep track of the same thing.
To improve your financial situation, or to simply GET RICHER, you have to understand those same parameters for yourself.
Hence, the need to track your assets, liabilities, and cash flow.

If for nothing else, you should at least know your expense and income in order to spend less than you earn, which is the most basic thing in personal finance everyone should be doing, in order to NOT go brankrupt!

You don’t have to keep track of every nickel and dime, unless you want to.

There are softwares out there that can assit you in doing this AceMoney, Microsoft Money, Quicken… convenience includes allowing you to import a file with all the transactions in the month from your online credit card account into the software. It really only takes 5-10 minutes each week if you perform updates weekly.

Otherwise, you can simply keep a spread sheet of the balance of all your saving/loan accounts and major assets, updated on a monthly basis. With the total balance showing monthly, you can compare and see which direction your finance is heading… either be up or down!

The most significant thing that I’d say about this is that it will at least keep you above negative or from going bankrupt, even if you are too lazy to implement any concrete strategy to improve.

Why?

Because when you actually SEE your total balance in real, concrete numbers and it is going downward and perhaps, in the negative, in RED… I’m quite sure 99.99% of you can no longer deny the fact and notice that something’s wrong and something must be changed. Hopefully before you can no longer pay all your bills.

Versus just having one of these thoughts in your head, “Darn, I’m poor”, “Hmmm, I’m spending too much”, “Oh, I think I don’t have enough money”.

That is in equivalence to something I always think –
That if wars are still fought with knives and swords, spears and halberts, people would be much less willing to kill because they’ll actually feel the refuting sensation every time weapon enters the flesh of another fellow human’s body.

Seeing the numbers is kind of the same thing.
You feel the stings and blows every time you see your total balance decreasing.
Worse yet, in the red.

On a personl note, tracking of my expense is telling me that I am spending quite a bit lately, which is okay because I’m still spending below my income and it’s money worth-while to make myself and others around me happy. However, I am reminded that I should buckle down a little.

Originally posted 2007-08-29 23:34:26. Republished by Blog Post Promoter

Keeping an Open Mind

Last time I mentioned Awareness; however, there is one thing that goes hand in hand with it. It’s being open-minded. Being aware alone is not enough. If we’re close-minded, how do we change ourselves? How do we allow our thoughts to change and to improve?

You may already think, “Of course I’m open minded.” Well, let’s not be so sure yet and give yourself some leeway to be skeptical about that.
Continue reading Keeping an Open Mind

Originally posted 2007-02-25 21:59:59. Republished by Blog Post Promoter

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