I was just looking at a transaction detail for one of the bank accounts that I planned to use for the money making journey. I kind of forgot that I left about $20 in the account as an initial deposit to activate it and the funny thing was that it has been accumulating interest as you can see here:

It is only one cent every month, but it just reminded me of my savings account when I was a kid where I thought just the fact that someone was giving me more money to save it was such a great concept. I think I still have my old bank account details too where I gained like one to ten cents a month which soon started going into dollars eventually. I guess like they say, a penny saved is a penny earned.

For blog updates subscribe to our RSS feed.

I received this letter today from my credit card company on how they have decided to lower my cash advance interest rate to 3.9%. Although, that still doesn’t seem very good though. This is one of those things where I don’t really pay much attention to as they can make the interest rate as high as they want considering I never use the service and pay my bills fully.

I was just thinking though on how I was trying to imagine myself using these cash advance services and how it seems like such a financially disastrous move to borrow money this way. Not only do you have to pay interest on it, but from what I am reading in this brochure there isn’t really a grace period and the interest is ongoing to the date of the transaction.

That’s like a quick path to debtville, so to speak. I’d rather adopt the” if you can’t afford it, don’t buy it” mentality if you are short on money for something.

For blog updates subscribe to our RSS feed.

While it’s true that being able to leverage your time is a fundamental component in creating a business or even generating an income for your lifestyle, this week reminded me so much on how it’s one thing to have people aid you for certain things and another to be completely dependent on them.

I guess an example would be if you opened up a restaurant and had absolutely no idea how to cook then you are entirely dependent on that one chef to follow through as oppose to if you were the chef who happens to own the restaurant.

While this may be an extreme generalization, I remember there was one person that I talked to who happened to be a very successful business person who came from China. He was mentioning how he believed that a reason why so many Asian people here were successful in creating a small business was largely due to the fact that many Asians try to make sure that in starting a business they are fully capable of doing everything themselves first. Therefore, hiring say more people is to save time/productivity as oppose to being a necessity in the beginning.

Again, an extreme generalization since that type of thing isn’t tied down to one’s ethic background, but the idea is true in many ways. I had an interesting day this week as I literally went through 30 hours straight without rest as I took it a bit too easy that I could simply just rely on another source to take care of a workload which didn’t turn out as planned.

While I didn’t consider myself better qualified to do the task, fortunately having basic knowledge of the solution helped the situation a lot as well. Always be prepared to jump in yourself.

For blog updates subscribe to our RSS feed.

For these next few weeks there seems to be an excess amount of people who happen to have birthdays coming up as well as other occasions that normally involve buying presents for people. As a result, I have been trying to find presents for people that I thought would be suiting.

Another person who was shopping for the same people was telling me on how this was such a financially draining week as she was using up her entire monthly non essential budget solely on gifts for others.

This got me thinking too as if you are in a situation where there are say too many birthdays and you are on a very tight budget as it is which one of the following would you do?

1) Determine how much money you can truly afford and divide it equally amongst the recipients or even giving things that are more personal instead.

2) Spend however much you would normally spend on a person by using tools such as a credit card even if it means adding more debt to yourself.

3) Delay giving certain people a present so that you can get them what you intended once you have the funds to do so.

I personally would be inclined to do the first option. Although realistically, I think most of the time people have a “I can so I will” mentality and will instead opt for say option two and start racking up on the credit card. It just seems more like a debt that you are paying back to the other person, so to speak, as oppose to giving a gift if you are spending more than you can afford I’d say.

For blog updates subscribe to our RSS feed.

I was just walking back from the bank in my neighborhood and all of a sudden I hear this car behind me that starts speeding up. As it would have it, the person then crashed into another car that was exiting out of the parkway in-front of me. It looked like one of the car was a Porsche too.

As one of the people that witnessed the whole ordeal, I provided my contact information incase the two needed some kind of testimony should the situation require it. That’s going to be one ugly expense for either parties though.

I was just thinking on how while the situation seems like it was created as a result of the guy suddenly beginning to speed up and driving pretty fast, in a residential zone too might I add, at the same time law wise the person who was exiting out of the parking lot may lose due to a technicality as I guess when you are in that position you have to make sure it is absolutely clear before trying to exit.

I was kind of surprised at how calm the two were too when they confronted each other and began exchanging papers. That’s definitely one thing that would ruin a monthly budgeting plan as I’m sure someone’s insurance rates will be going up.

For blog updates subscribe to our RSS feed.