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Over 400 Subscribers Giveaway - HP USB SD Card Reader
2007-10-07 21:34:00
Prize: HP USB Digital Drive (SD Card Reader ) Drawing date: 10/20/2007 Rules to join: Be an email subscriber of Money Ning to be eligible. Note that our email subscribers will be included in the drawing for all future giveaways also so remember to keep checking those emails from me! It cannot get simpler than this so join now. Subs cribe to get updates sent straight to your inbox and also have a chance to win many great prizes! ---Related Articles at Personal Finance Blog by Money Ning:Last Chance to Enter the Starbucks Gift Card GiveawayStarbucks Gift Card GiveawayWinner of the Microsoft Money 2007 Deluxe is…The Starbucks Gift Card Winner is…Money Ning On The Road
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Interesting Links on a Sunday Afternoon
2007-10-07 17:21:00
Seasons are definitely changing since it is quite cool here in Southern California (Interesting ly, places in the east coast like New York City or Baltimore is extremely hot).  Whatever the season though, our Sunday link love event won’t change so here they are. My Two Dollars has a thoughtful piece about whether we can go one day without spending a dime.  Go find out if we can or not! Modern Worker suggests a great way to lose weight at our own desk for free! The Div Guy explains to us why dividends matter on this piece. I know everyone always wants to compare other people’s 401k balances with his/her own so check out Adventures of Money Making’s portfolio performance. I’m not quite sure how this can happen but there is sad news from The Dividend Guy (not to be confused with The Div Guy) as he asked me to let everyone know that his feedburner account stopped working!  Those that were subscribed to his feed before will need to re-subscribe so go do so now...
More About: Links , Afternoon , Eres

Winners of The Quiet Millionaire Giveaway and Another Contest Tomorrow
2007-10-06 20:27:00
Today is Saturday and it is time to announce the winners of 4 free copies of The Quiet Millionaire . The winner was randomly drawn from all the email subscribers who are eligible for all future giveaways. The winners of the 4 free copies have email address: 1. ge_ _g_j@i_t_c_ _pr_u_ _s.com 2. j_c_ _e.b_ _ar_@gmail.com 3. l_ _ _enu@yahoo.com 4. _a_i_n@i_-_ _ch.net Congratulations! You will be contacted shortly for an address to send the book to. If you want to be automatically entered into future giveaways (including the one tomorrow), it is as easy as being an email subscriber!  Just remember to come tomorrow to see what the prize is. Good luck! ---Related Articles at Personal Finance Blog by Money Ning:Book Review - The Quiet MillionaireLast Chance to Enter the Starbucks Gift Card GiveawayAutomatic Millionaire - The Latte Factor - Becoming an Automatic Millionaire on Just a Few Dollars a Day Chapter SummaryWinner of the Microsoft Money 2007 Deluxe is…Ways to fight a traffi...
More About: Contest , Winners , Tomorrow

Would We Really Choose to Fulfill Our Dreams Once We Reach Our Goal?
2007-10-05 17:08:00
The second you finish reading the title, you are probably thinking “Of course YES! What a stupid question!” However, I urge you to think about it a little longer and stay with me by reading on. This financial blog is filled with readers having the dream of early retirement. We want to pursue our hobbies, relax, and stop hearing “Why are you late today?” at work. Some of us even have spreadsheets that map out our plan and schedule of when this can happen. On the worksheet are statistics such as our current net worth, projected return on capital and how much we would have 5, 10, 15, …, 30 years from now. If we are on track for early retirement, it would bring a big smile on our faces every time we look at the spreadsheet. It gives us hope; it gives us more motivation to work towards our goal. We dream about reaching our 1 million dollars (or 2, 3, even 5 million) goal and retiring early one day. However, would we really retire if we are 45 years old an...
More About: Dreams , Goal , Reach , Choose , Ally

Feeling Guilty to Spend Money on Anything
2007-10-04 17:09:00
I have noticed the way I spend money has changed. Not only am I spending less, but I feel pressured to not spend even for necessities. In put it in short, I think I have changed myself from frugal to cheap.A few weeks ago, I asked everyone whether I should celebrate on my big career accomplishment and slurge. The conclusion was that I ended up not spending a dime because of it. In a way, this is good since I didn’t waste my money on something that I might regret later, but some might say that I have almost gone mad with saving money. The argument is that I should reward myself for making such a big accomplishment with SOMETHING… ANYTHING. I agree with this somewhat, but when I think of all the things that I want, I just couldn’t get myself to purchasing any of it even though I can comfortably afford it. When I go shop, I don’t look at the features or how it might be useful for me. The most important deciding factor of purchasing something has become the hit it will ha...
More About: Money , Feeling , Guilty

Book Review - The Quiet Millionaire
2007-10-03 20:10:00
* I will be giving away 4 copies of this book to my email subscribers this Saturday (10/6/2007). If you still haven’t subscribed yet, do so here. – The Quiet Millionaire is a book that contains a wealth of information on personal finance topics. With forty plus years of professional experience as a personal and business financial advisor, Brett Wilder shares with us his expertise on how to accumulate and keep our wealth. This book’s theme is tied very closely to the title of the book – the quiet millionaire. Instead of writing about how to be frugal or the secret to picking the right stock at the right time, this book focuses on how the average population can carefully plan and be a millionaire with time, patience and good probability. One of the first Brett advices is to discover who the real you is and what you really want out of life, while making sure we plan for money to be our servant instead of being our master. Next, he explains to us the seven major obstacles to...
More About: Book Review , Review , Book

Zecco Needs to Hire a Marketing Team and Why I Use ETrade Financial
2007-10-03 17:23:00
Zecco is changing the rules of its $0 trade program… Again. However, this time it is pretty dramatic. Here are the details. • 40 free trades a month / 10 per day -> 10 free trades a month • Additional trades at $3.50 -> $4.50 • Account minimum from $0 -> $2,500 (having an account with less than $2,500 equals having to spend $4.50 per trade) Just like Sun from The Sun’s Financial Diary, I feel that Zecco just does not know what it wants to do. It’s as if they are a new born child just trying to feel their way into the world. I just hope that they don’t piss off their customers so everyone just cancels their account. Just like every company, Zecco needs a marketing director that can give the company some much needed direction. It needs to figure out what it is good at and which part of the market it wants to penetrate first. Once they have that figured out, then all these detailed decisions can come easier, as opposed to changing rules every month or two and eve...
More About: Marketing , Hire , Team , Zecco

Is Keeping Money in PayPal A Good Idea?
2007-10-02 17:16:00
After HSBC has lowered their savings yield from 5.05% to 4.50%, I started searching for another method to grow my emergency fund.  One place I stumbled upon was PayPal, which gives you a 5.21% yield as of this writing. I started wondering why PayPal can give a higher yield than online savings account, so I logged into my PayPal account and found this on my login page. 7 day average yield as of 9/19/2007. Yield varies over time. Money market funds are neither insured nor guaranteed by the FDIC or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 USD per share, it is possible to lose money by investing in the Fund. Learn more about the Fund in the prospectus. The PayPal Money Market Fund is designed primarily as an automatic sweep investment for uninvested cash balances in PayPal customer accounts. Distributed by Funds Distributor, Inc. PayPal is not affiliated with Funds Distributor, Inc. or with Barclays Global Investors. I gue...
More About: Paypal , Idea , Good

Getting Used to The Debt Situation
2007-10-01 17:13:00
Not many of us are born rich and paying off debt has become many people’s way of life.  From the early years, something called the student loan starts our period of debt.  From then on, we go to college and most of the time the money we owe increases until we graduate.  Those that are more informed will get by without additional credit card debt, but many others will incur the ultra high interest while they continue to live their young lives. Humans are usually very adaptive but this is our strength as well as our weakness.  When we graduate from college, many of us are so much in debt it doesn’t seem like it matters.  We start buying everything on credit, starting our fancy life. Unfortunately, this is the story of many Americans.  They have just gotten used to the debt situation. It doesn’t really matter how much they owe anymore because they feel like they can just slowly run their credit cards up without much consequences.  For a couple of years, everyth...
More About: Debt , Situation

Sunday Personal Finance Roundup
2007-09-30 20:34:00
Another Sunday and another bunch of great posts from everyone! Thanks for the great support and check out these posts from top commentators and other posts that are worth a read! Modern Worker talks about employees getting fired for smoking and obesity! I thought employers charging people more money on healthcare who are fat was bad. Ann talks about several ways to help control his/her own business instead of letting it control them. Almost the same time I posted about whether I should move or not, My Two Dollars discusses how moving will save him money and improve his quality of life! Jim talks about 8 personal finance lessons he learned from Monopoly! Five Cent Nickel discusses with us whether deducing disciplinary fines as business expense is good practice. Golbguru shares with us all sorts of financial fraud vehicle.  Great read to learn how the different forms these scams can come. ---Related Articles at Personal Finance Blog by Money Ning:Blogging About Personal Finance C...
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Moving Because of Standard of Living?
2007-09-28 17:25:00
I’m in Tullahoma, TN right now and houses are HUGE here!  $350k can buy a 4410 square feet house compared with $700k for a 1200 square feet condo in Southern California.  This makes me wonder why I even stay in California and worry about my future housing cost when I can pay 20% of the cost by living somewhere else. If I were to move to Tullahoma, I would need to: get a new job learn new pasttimes because there isn’t much to do here learn a completely new enviornment because everyone is much more relaxed here than in California look for a new place (i would probably buy a house after I move here) have tons more time to write to you since I won’t be doing much else other than work save a lot of money So basically, I will be saving a lot of money but will be giving up everyone and everything I know.  At this point, it is quite tempting but I think I will pass because I love urban life.  As a matter of fact, even California is a little too slow for me as I was b...
More About: Living , Moving , Standard

Addiction For Spending Money
2007-09-27 17:12:00
Are you addicted to spending money?  If your answer is no, think again.  Do you like gambling?  What about smoking?  Do you like having wine, coffee or even coca cola?  To some extent, even paying golf or doing your favorite past time requires money.  In an indirect way, if you are addicted to buying or doing the thing that needs you to spend money, you have spending addiction. There are drugs to treat addiction of all kinds, but I just couldn’t find the capsule that will cure my addiction to spend money.  I spend a lot of money on wine, coke, coffee and certainly golf.  Currently, it’s not so bad but this is just going to become worst as my addiction worsen.  What should a normal person like me do to my addiction if I know that it will become worst through time? If I let this continue, it might become uncontrollable later on.  If I stop all activities because I’m afraid of the consequences, I have effectively put myself in a money prison where no money c...
More About: Money , Addiction , Spending , Addict

Do You Live Frugal Just To Buy Fancy Luxuries For Yourself?
2007-09-26 17:19:00
I’m definitely someone that likes gadgets. So much so that my boss even called me “a hardware type guy”. Back in college, I had a very frugal lifestyle - eat home cook meals, seldom go out, buy very little clothing. However, I bought expensive gadgets like PDAs, MP3 players, and golf clubs. At the time, everything was fine because I didn’t mind staying at home most nights since I just thought that was normal. I didn’t really taste expensive food, so home cook meals were great. It still didn’t help my financial bottom line though, because I ended up spending all my money on luxuries. Looking back, it was something I wish I didn’t do because I either could have lived a richer lifestyle or saved even more money. Just imagine that if I didn’t buy all those PDAs, and or computers and bought stocks in Microsoft (MSFT), I probably would not need to work anymore by now My situation is very typical though. There were many of my friends...
More About: Live , Frugal , Fancy

Are You Motivated Enough To Be Financially Free?
2007-09-25 17:09:00
People like us care about money.  Let’s face it, many of us read financial websites most days of the week, if not everyday.  We spend so much time thinking and reading about money and money advices that we almost know how the piece will be structured after reading just the title of the article.  We feel that by reading, thinking and talking about money, we can somehow become wealthier. To be honest though, this is not good enough. It is not good enough to just be reading and thinking about money advices because we also need to apply it.  Who doesn’t know that eating out costs much more than cooking and bringing a brown bag?  Who doesn’t know that the person who takes on big debt to buy the fancy car is not doing him/herself good financially? On paper, everything is easy.  Live below your means, invest wisely and let time take care of itself.  In reality however, it takes motivation to live below your means.  It takes motivation to invest and stay invested...
More About: Free , Fina , Ally

Everyone Has Monday Blues
2007-09-24 17:10:00
Monday morning is always one of the worst times of the week because you just got through the busy and eventful weekend and is still in the “holiday” mood.  For whatever reason, Monday is also the day where everyone likes to have the most internal meetings!  Staff meetings, weekly team meetings, you name it, they put it on Mondays. We should all just take a deep breath and tell ourselves that everyone else is thinking the same thing.  We are all tired and we all would rather be in my beds but we are all here working (and reading blogs)! Good morning everyone and have a great week!  Cheers! ---Related Articles at Personal Finance Blog by Money Ning:Wells Fargo Online Website is DownDay 1 of this week!Say What You Do and Do What You SayWaste Miles Per Gallon of GasCheapest Days to Purchase
More About: Blues , Monday

Linking to Supporters For This Amazing Week
2007-09-24 01:54:00
This has been an amazing week as far as my finance is concerned because I closed a major deal for my company (read big $$$ for me in the coming months) as well as the incredible stock performance. Therefore I have been a little busy celebrating I ended up not buying anything after I posted the article on celebration and slurging, but I went to quite a few celebration dinners (both paid by me and other people). Enough about me!  Here are some great articles for your enjoyment! Adventures in Money Making posted about the day in which the Canadian dollar being on par with the US dollar.  I wonder what those people that made all those Canadian money being Monopoly money jokes feel about the situation now. My Two Dollars asks an interesting question on whether we spend money on anything at all.  I guess I sort of answered it with my celebration article up top! The Sun’s Financial Diary wrote an article about whether we are a better investor.  This article made me quote parts...
More About: Amazing , Linking , Week , Linkin , Supporters

Paycheck Frequency
2007-09-21 17:21:00
I noticed that Asia companies usually send their paychecks out once a month while North American companies usually send them out every two weeks (bi-weekly).  Personally, I believe that the more frequent it is, the better because I’m happier on payday even though I am not living paycheck to paycheck.  I also believe that most people will be better able to space out their spending if each paycheck is smaller but more frequent.  So, here’s a poll for you.  Which payment frequency do you rather have? Which paycheck frequency is better? Weekly Bi-weekly Monthly I don’t care View Results  Loading … ---Related Articles at Personal Finance Blog by Money Ning:My Employer Might Start Charging Me Money For Being FatMy March Budget ReviewDebt is All Around YouHow Payday Loans WorksMoney Tip: Checking Account Details that help make you rich
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Should I Celebrate and Slurge?
2007-09-20 17:18:00
I helped my company closed a very fruitful deal with one of our customers and I am contemplating whether I should buy something for myself to celebrate.  These “celebration slurge” seem to be extremely common in our society but how should we control the amount that we spend when these events happen? I always hear about someone wanting to buy themselves a gift whether it is for a promotion or Christmas or our birthday.  What this comes down to is really just an excuse for us to get what we wanted.  This “celebration” becomes the extra push over the edge for us to slurge. It is not all bad though.  Sometimes, we need to give ourselves some motivation to work hard, and something like a reward for a job well done would be a very fitting way to do so.  Buying something that we can see and touch will help remind us that it is worth it to work hard.  It’s almost like investing because spending $x on this gift for ourselves might motivate us to earn more than $x as a result....
More About: Celebrate , Rate , Urge

50 Basis Points Fed Rate Cut and Mortgage Rates
2007-09-19 17:18:00
Yesterday, the Fed cut their rate half a percentage point to 4.75, making the prime rate to 7.75 percent.  This will help borrowers because it will be cheaper to borrow money.  The rate will fall for credit cards interests and home equity line, encouraging borrowing.  Great!  More ways to help us run up our debt! Most people think that the mortgage rate will decrease because of this move from the fed but this is not true!  The fed cutting its rate does not mean that the fix mortgage rate will go down.  Consider that from out of the 13 rate cuts from Jan 2001 to June 2003, the 30-year fix rate mortgage in the month after fell eight times but rose 5 times! Fixed mortgage rates mostly change in response to people’s expectation of inflation.  Do you believe that we will have an inflation problem in the near future? It is hard to say whether mortgage rates will change in response to this but I doubt that it will be lowered much!  I just hope that people will still be able t...
More About: Mortgage , Points , Rates , Rate , Mort

Perceived Cost vs Real Cost
2007-09-18 17:19:00
Today, I spoke with my colleague about whether it is cheaper to do a wire transfer or receive a cheque.  My colleageue argued that receiving a cheque is cheaper because it only needs to be printed out which costs pennies while a wire transfer comes with a $10 - $20 fee.  However, I disagreed. I felt that a wire transfer is cheaper for the company because it is seemless.  No one needs to print it out, pay for stamps, wait a few days and then deposit the cheque.  Sure the perceived cost might be small to mail a cheque, but the extra time this process takes costs the company a lot of money since employee salaries are very expensive! Later in the day, someone called a meeting where we talked about deciding what to do with 200 pieces of a $0.30 per piece item.  This $60’s worth of inventory taking the 6 of us a good 30 minutes to discuss because there were much complications with the disposition.  This did not make sense at all but of course someone told us we cannot ...
More About: Cost , Real

Recession and The Stock Market For The Public
2007-09-17 17:20:00
I was reading Ben Stein’s article on buying stocks when there is a recession because of the strong long term outlook. Don’t look at 2008 but at 2018 he says. Sure, if I have a positive cash flow every month and absolutely no debt, I can buy stocks when there is a recession because I believe I will come out ahead in 15 - 20 years. However, most of us are still battling debt, or choosing between creating an emergency fund and paying off our mortgage early! For us, those articles are not relevant because we do not have a lot cash to pour into the market that we don’t need to take out. It is important to remember that having a long term outlook means that the money that is put into your account needs to stay there while the stocks / mutual fund / ETF go down during a recession. It could be months or even years before the money you put in recovers. It is important to remember that not only do you need to be patient, you also need to be solvent enough to weather th...
More About: Stock Market , Market , Public , Stock , Recession

Glad To Be Back Links
2007-09-17 04:39:00
Taiwan was quite fun where I took some wedding pictures with my fiancee!  Now that I’m back, it’s back to writing and sharing with you on personal finance. This week’s top commentators were especially appreciated because I was away on vacation!  Here’s a big thank you and here are some of the articles from them for your enjoyment. Plonkee discusses with us whether a career plan matters.  I believe something like this is quite hard to do because life is so dynamic.  However, I feel that thinking about maximizing opportunities are important though. Adventures in Money Making has an article on whether a recession is a good thing or not.  I’m very afraid of one in the states because average consumer debt is very high and a recession would be quite devastating; one where a country might not be able to recover easily from. Matt found that carrot producers are quite smart!  Check out his findings on the carrot package from his groceries. ---Related Artic...
More About: Links , Back , Back Links , Glad

Coming Back From Taiwan Now!
2007-09-16 07:09:00
I’m getting ready to get to the airport to go back to the states!  One thing I always wondered is what people do with the extra foreign currency that they still have at the end of the trip? Do you keep them for your next trip, give them to relatives or try to use up the last cent on everything you see? It seems to me that every option has their pros and cons so it’s pretty hard to decide!  On this trip, I will probably give all my NT dollars (currency in Taiwan ) to my fiancee since she will still be here for a couple more days but your suggestions are welcome since I always have this dilemma! Next week, I will be back so everything will be back to normal.  Stay tuned for more articles from my experience in Taiwan! ---Related Articles at Personal Finance Blog by Money Ning:It is So Much Easier To Be Frugal in Taiwan!Greetings from Taiwan Airport and Patience for the Market!How did anyone get over the major expenses in life?I got my suit back and saved $87.32 worth of m...
More About: Back , Ming

It is So Much Easier To Be Frugal in Taiwan!
2007-09-14 17:32:00
Hi everyone!  I am very tired right now since my visit in Taiwan has been “event-packed” but I want to tell everyone about my trip.  I found that Taiwan and United States has a very different living standard!   For example, I had a very nice dinner (Japanese Hot Pot, also called Shabu Shabu) that cost $15 USD (tax and tips included) while something similar in the states would cost me $30-40 dollars. Two of the big difference with prices are that you do not pay taxes nor tips here.  Something that cost $10 is $10, not $10 plus tax.  Also, when I go to a restaurant, I do not need to pay tips.  This makes things so much simpler for the customer!  It creates the burden on the business owner to figure all these out instead of asking the customer to calculate everything on every order, saving time. Without taxes and tips, everything is still much cheaper here.  It is amazing how business owners can still profit with prices this low but people here are still capable of...
More About: Frugal

What Is Real Wealth?
2007-09-13 17:16:00
While I’m away on vacation, Wealth Building Lessons shares with us an emotional piece about what he feels about the true meaning of real wealth. A lot of people think that they’re better off than their parents and grandparents because we live in greater luxury. The average person can now afford a car, air conditioning and a TV. These things were luxuries 20 years ago. The average home is also bigger than it was in the 1960’s. And even though you may not go on vacation often nor go very far from home, you’re probably traveling in more style and comfort than even the richest of men did just a 100 years ago. But at what cost does this seemingly better lifestyle come? Families now need 2 incomes to pay for a house in most of the US. Just 2 decades ago, a single wage earner was enough to be able to buy a house. With both parents working full-time and in many cases over-time, kids are now left at day care or with baby sitters. With greater mobility, people who move...
More About: Real

Boost Your Self-Esteem by Taking Control of Your Finances
2007-09-12 17:24:00
Today’s educational guest post from Chief Family Officer summarizes some advice of a topic we all need - Self-Esteem. In his book, The Six Pillars of Self-Esteem, Dr. Nathaniel Branden defines self-esteem as a combination of confidence in one’s ability to think and cope with the basic challenges of life, and confidence in one’s right to be successful and happy. One’s ability to cope with the basic challenges of life includes one’s ability to support oneself financially. This ability is the key to the connection between personal finance and self-esteem. Taking control of one’s finances, which is the key to economic self-sufficiency, can therefore bolster one’s self-esteem. Here’s how the six pillars of self-esteem apply to personal finance: Pillar #1: Living Consciously Living consciously means to be aware of your actions, values, thoughts and feelings - in other words, reality. In the context of taking control of your money, living co...
More About: Finances , Self Esteem , Control , Boost , Fina

The Buy and Hold Trading Strategy: It’s Like Raising Your Son Part 1
2007-09-11 17:16:00
Money Ning is on vacation and has asked Mike from The Financial Blogger to help put together a guest post. I must say that Mike is very creative because he has part 1 over here and the part 2 over at his site! As we are facing a very unstable market, I thought I would write about the oldest (and probably most reliable!) method of investing: the buy and hold strategy. I noticed that raising a child has very similar points with this investing strategy. The birth / your most recent stock purchase When your little angel comes into your house for the first time, everything is just perfect. He is so sweet, he makes little faces and even his pooh-pooh smells like a lavender breeze. You are so worry about him that you check his crib every single minute. Everybody is telling you how cute he is, that he will be so smart, so tall and so handsome. When you first buy a stock, you are so excited and proud of your investment that all news regarding this company is good news. Even when it goes bad...
More About: Strategy , Trading , Part , Hold , Trading Strategy

Debt is All Around You
2007-09-10 17:17:00
This is a guest post by PaidTwice whose blog is over at I Paid For This Twice Already. His motivated for starting the blog was to help motivate him to get out of debt, motivation we all need at times! I don’t know if you’ve seen the commercial for a credit counseling service in which someone says “You’re not just in debt, debt is all around you”, but that statement still has a profound effect on me. Those simple words hit home for me in so many ways. When you’re in serious debt, it is an emotional as well as a financial burden. When you are in debt, it isn’t something you can compartmentalize into a facet of your life, it touches everything you do and every decision you make. Truly, debt *is* all around you. It may feel easier to ignore your debt and wish for it to go away, and stay ignorant about the true magnitude of the issue, but debt is still all around you. And it has subtle and not so subtle impacts that eventually can n...
More About: Debt

Greetings from Taiwan Airport and Patience for the Market!
2007-09-08 18:04:00
I’m in the Taiwan Airport waiting for my connecting flight to Bali Island and just missing all you loyal readers!  The good thing here is that they offer free internet throughout the airport for people like me who can’t stop typing Anyway, I checked the market and it was pretty bad.  Before I left on Thursday, I bought 200 shares of E Trade (ETFC) and it was down about 3.5% on Friday.  At first, I was pretty upset but I remember that I bought it because I felt that the stock is hugely undervalued.  I’m away on vacation but I will buy more if I have a chance next week as it is even more undervalued now. It also made me feel better when I know Warren Buffett bought a huge stake in USG because of its valuation, paying about 10-15% more than the stock price is worth now ($37 per share).  Right now, he is not going to panic and sell, because he is in it for the long term.  He knows the stock will bounce back and provide him with a good return in the long run.  ...
More About: Market , Patience , Greeting

How I Try Not to Get Rip Off with Exchange Rates When I Travel
2007-09-07 17:12:00
I’m probably on the plane right now trying to come up with the next personal finance article so a big “Hi” from the sky! I wonder when they will actually have free WiFi for everyone on the plane but I am satisfied for now to have my Nintendo DS with me while I sit through a 15-20 hour flight to Bali Island! Speaking of traveling, I used to get my money through the currency exchange at the United States airport. After a while of doing this, I realized that it is one of the worst places to get money in foreign currency. Not only are they more expensive than most other places, they also don’t have every currency that I sometimes need. What I do now is get it when I actually arrive at my destination. It is pretty convenient because they would always have their own currency and offer competitive rates. For an even more savings, the local currency exchanges places found outside the airport offer even better rates. I caution you though because 1) not every country has one and...
More About: Travel , Exchange , Rates , Rate , Chang