Nothing is Free, Causality, Karma

The concepts of Nothing is Free, Causality, and Karma mean the same thing to me.

By the law of physics, one cannot create something out of nothing. And indeed, nothing in this world is free, ever. When you get this concept into your head, the way you make decision will forever change.

In every action and decision we make…
There are always upside and downside.
There are always costs and benefits.
There are always cause and effect.

In everything we do, we gain something and we lose something at the same time.
None of us can receive something without first giving something.

You cannot do amazing by doing ordinary.
You cannot reach greatness by doing what everyone else does.

If you seem not able to see this and grasp the concept, I dare say your perception is shallow.

Originally posted 2008-07-17 19:33:17. Republished by Blog Post Promoter

My Personal Finance Decluttering – Bye Bye Student Loan

Following my recent mortgage refinance, I also bit my teeth and paid off the student loan debt that I carried since I graduated in 2006.

I had to “bite my teeth” because of the amount of savings I’m giving up to get rid of these debt, especially on top of the chunk of saving I put away in the refinance process. My rationale…

For the longest time, because the student loan is sitting at a low 3.5% rate, I considered it as cheap money and was going to pay it down slowly over the year.

However, even as I was paying it slowly monthly, I was putting in 20-30 bucks extra each payment to help dwindle the loan amount down faster. As a result, I saw the amount sitting around $3000.

There is a story about a philosophy teacher that talks about how we can see our life as a bottle with the important things as large stone pieces we put in it and the trivial stuff as small pieces of sand.

Because the loan is sitting at just $3000, and by principle, it’s “cheap money” and money is better in your own pocket… I decided that keeping this loan is like having more pieces of sand than necessary. For my peace of mind and not having to keep track of it anymore, I made the jump to pay it off.

As a result, my only real loan left is my mortgage (because I’m paying off my credit cards monthly). Perhaps I’m simply risk-averse or financially conservative, but in this day and age where employment is not quite guaranteed and work environment unstable, it is important to reduce debt to provide yourself the flexibility and option to consider other opportunities. In short, the less fixed cost in your cash flow, the better.

Plus, the less things the mind has to keep track of, the less chance of making mistakes that may cost money. Therefore, being thoughtful in minimizing debt and reduce debt cannot be stressed enough because of how easily costs can snowball!

At any rate, I can forget making that student loan payment each month now, and that gives me more space in the mind… which by itself, is priceless.

Originally posted 2013-01-04 23:42:09. Republished by Blog Post Promoter

My Experience with E-LOAN Online Saving

I received my first statement on my E-LOAN saving account that I opened 2 weeks ago, which has the highest APY of 5.50% for a online saving account . A few comments about what I like, based on my experience switching from HSBC (and ING preveriously):

  • The opening process is quick and clean, and unlike HSBC, no need to wait couple weeks for confirmations.
  • The login process is easier. You create your own username, as opposed to HSBC’s use of account number, which means you most likely save it in a file somewhere and then copy and paste, which doesn’t make it any safer in my humble opinion.
  • The interface is cleaner, more please to the eyes :) From a web design perspective.
  • Transaction from external checking account is quicker, unlike HSBC that takes 3+ days.
  • And of course, 5.50% vs. 5.05% APY

So far, I’m pleased with E-LOAN. However, we’ll have to pay attention if they will change the rate in the near future.

Other choices for online savings account, besides E-LOAN, HSBC, and ING with decent rate are:

Having saving!

Originally posted 2006-11-01 23:14:47. Republished by Blog Post Promoter

Living Simply

A simple idea in itself.
Keeping life simple in all aspects.
At least that should be the first step before you move on to more complicated things.

Like when you are young, you instinctly learn all the basic abilities for everyday life until death.
Like when you want to learn martial arts, dancing, or fencing, you want to drill the footwork into your body.
Like when you get your financial situation under control, you start by looking at your income and expense.
Like when you want to get healthy, you start by looking at what you feed and how you are using your body.
Like when you solve any problem, you want to find the one fundamental aspect of yourself that is the root of the problem in order to stay focus.

Yet, humans often overlook these simple things before moving on to complicated ones.
It’s like running without first learning how to walk.
People want the result in one quick step.
Shortcuts usually lead to more troubles.
That is what create majority of turmoils in our lives.

Oh simple things…

Originally posted 2008-10-07 00:09:27. Republished by Blog Post Promoter

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