Showing posts with label money. Show all posts
Showing posts with label money. Show all posts

Saturday, August 2, 2008

I do... or do I?


We all have a relationship with money. For most of us, its like being in a fickle relationship. Sometimes we love it, hate it, or feel apathetic towards it. Our moods change as it comes and goes from our lives. It's like that saying, "If you love something let it go. If it comes back, it's yours." This can also be applied to money. But with money, just because it came back doens't mean it's staying.


Don't marry money because it knows no loyalty

We base our general attitude on our past experiences with it. But whether we love or hate it, when it gets down to it, we need money. So we might as well reconcile our past emotions or attitudes we have and try to get along with it.

Sometimes we feel money is cheating on us - going out when we don't know, lying to us, saying it'll be back, then we can't find it. We try to call it and it doesn't answer so we leave a message. And it never calls back. Other times we love money. It feels so good to hold it in our arms. We get a sense of security and a warm feeling inside when it's home.

With all these emotions, how should we treat this psychotic relationship? I try to remember that money is a tool not a personality. It feels indifferent and has no memory and doesn't care if its near or far. Not to talk behind its back, but money gets around. Money is something we can use to achieve goals. We must remember that we can use money to help, and we can use it to hinder. But most importantly, whatever worth we give it, we must not forget that we need to value people more.

In contrast with money, people do have memories, emotions and they do care. People get happy and sad by the way you treat them, and visa versa. Those around us will not forgive your good or bad relationship with money. Suze Orman, a well-known financial advisor, always says, "People first, then money, then things." This is a good maxim to live by. We must not let money get in the way of how we relate to people. People have the most value, and although peoples attitude towards you will change, they also provide much more than money can.

I could have a million dollars, a huge house, nice cars and expensive wine to drink, but if I have no one to share it with, does it really have value? We must work together with integrity and comeradery to reach our goals. Using each other really only sets us further back.

I once heard from a wise man that you should be wary when lending money to friends, because you may lose both. So when faced with decisions where people and money are involved, remember to take a step back and think for a second. Make sure you know where the real value lies.

Good living to all.

Wednesday, January 17, 2007

Free!

Dictionary.com states that, among many other things, free is something that is "provided without, or not subject to, a charge or payment."

Without a doubt, I am a fan of "free." I am a free person, "enjoying personal rights or liberty(s)," and for the most part, "not held fast" to anything or situation. Free-dom is a great thing. It allows us to go where we please, do what we feel (within or without reason), and enjoy the fruits of our autonomy. I am a very fortunate person.

However, in the material world, free is usually associated with words such as "junk," "worthless," and "not really free." All too often, free comes with strings attached, like *'s. There are hidden fees or catches that bind you into more trouble than the initial freedom is worth. So it is quite rare that things of value are offered at no price. That is why I am surprised when I see something of value offered for free.

One thing that I have found (and it is nothing new) is free phone service. Just a few years ago, we had to pay loads of money to call someone across the country. We would compare different carriers, wait for nightfall, hesitate on calling during "peak" hours, or any number of things to reduce the cost of making a long distance call. That has all changed with VOIP servers such as Skype (www.skype.com) or Vonage. You can call anywhere in the world for free. Free? Free! (I love saying that word.) However, there are a few *'s attached. First, you'll need a computer, and if you're reading this, you've already got that covered. Second, you'll need several minutes to set up an account. Third, you'll need a microphone and speakers, things your computer probably already has. After these, all you need is someone to call in Denizli, Turkey, some free time, and you're set. Calling around the world hasn't been so free since the days of phreaking!

Another nugget that I've found is in the online trading arena. With the advent of the online discount brokerages, commissions have plummeted from hundreds of dollars per trade to the cheaper rates being below US$10. I myself have been using Scottrade (www.scottrade.com) for the past several years to make the occasional hobby trade. They offer relatively low rates at US$7/trade. TradeKing (www.tradeking.com) also offers very low rates starting at US$4.95/trade. These are great rates for market trades. But one company has changed all that.
As I was surfing the land of the free (the internet), I came across an ad for free trades. Intruiged I went to their website (www.zecco.com) and found out what this nonsense of free trades was. Low and behold, they were offering free trades. Mind you that these are for your basic market orders. More advanced trades such as option and margin accounts have other fees. But before you being acting like a day trader, make sure Zecco offers what you are looking for in a (discount) broker. Because there's nothing worse than getting something for free that will end up costing you more later.

Hopefully these free things will allow me to "act without self-restraint or reserve" and "not (be)subject to rules (or) set forms" in the future. Until then, keep on the lookout for freedoms for all.

Monday, January 15, 2007

A Penny Saved

As I rethink the function of this blog, I will focus it to an audience looking for interesting tidbits to help them along. The range of ideas is broad and will not always (ok, not usually) be my original thoughts. I will borrow the ideas from other sources. I don't have all the answers and don't intend to act as if I do. Actually, I will post ideas here to help me remember as well, what I have learned through my meanderings of life and the internet.

Saving's Basics: Assuming you have a little saved money sitting around collecting dust, why don't you collect dollars? In my searches to find a decent rate of return on a savings account in these times of rate fluctuation, I have found several places that offer decent returns on a standard savings account. An online bank, Emigrant Direct (www.emigrantdirect.com) for example, offers a 5.05%APY. Now as far as I know, my the national average is much lower (somewhere below 1%, but don't quote me). There are many other banks like this and if you do a little google search, you will find them (or go to www.bankrate.com to compare banks). They are basically all the same. Depending on how much you have to save, you should go for one that has no minimums, no fees, and is insured by a reputable institution (member FDIC). These work just like savings accounts, except that there is usually no bank to go to, and you'll need to connect it to another account to fund from or withdraw to. The process is simple and in no time you'll be making a measley 5% on your savings account!

I also accept advice, so if you have anything you'd like to share, please feel free.

Friday, January 12, 2007

The 2nd First Post

Okay, I guess I'm really a newbie and unadapted to this as I thought I had already made two posts but apparently put them somewhere other than my front page. This will be my first "post." The week has come to an end and my eyes are tired.
I'm also new to the game of investing. I hold some stocks in companies, but followed the advice of market guru, chair throwing Jim Cramer. So far, his advice has been on point and I've made good returns on his recommendations. In the long run though, I know I should learn how to analyze investments on my own. I am in the process of doing this, but it is difficult. On this journey there have been some beacons of light amongst the snake oil peddlers of this industry. Part of this blog will be dedicated to finding these spouters of knowledge, as well as other random interests of mine (not to discredit my other interests). I will add links to sites that I find interesting pertaining to investing such as this http://bigpicture.typepad.com/. There is a wealth of knowledge out there for you to sift through and make the decision if it's worth anything to you.