Saturday, August 28, 2010
Young and in debt
Young and in debt
My view
Young people should avoid getting into debt, including car loan. The worst is debt on credit card. They have to pay a high interest rate. This is covered in my talk on Financial Planning, arranged under FISCA, www.fisca.sg.
My view
Young people should avoid getting into debt, including car loan. The worst is debt on credit card. They have to pay a high interest rate. This is covered in my talk on Financial Planning, arranged under FISCA, www.fisca.sg.
Pelikan Pen-The Choice of Pen Connoisseurs Worldwide | Pelikan Fountain Pen
The Pelikan fountain pen is perhaps what first comes to mind when the Pelikan Pen brand name is mentioned. This is because it is the type of pen that has been around the longest and is also the pen that is most often given as a special gift. Traditionally speaking, a Pelikan fountain pen is a writing instrument that is used to sign important documents, or write personal letters. Even in the age of computers, people still want to use a stylish writing instrument when they want to make their inscriptions more personal.
Mio TV
ORIGINALLY POSTED IN DECEMBER 2009
My friend has a Mio TV. He found it to be rather unsatisfactory. It took a long time to get started. He also has a Starhub cable TV, which was quite easy to use.
He said that he needed two set top boxes (for Mio and Starhub) and two separate TVs (as it s not possible for his TV to receive signals from both set top boxes.
I wonder what is the experience of other Mio TV users? Is it convenient to use? Is t fast to get started?
My friend has a Mio TV. He found it to be rather unsatisfactory. It took a long time to get started. He also has a Starhub cable TV, which was quite easy to use.
He said that he needed two set top boxes (for Mio and Starhub) and two separate TVs (as it s not possible for his TV to receive signals from both set top boxes.
I wonder what is the experience of other Mio TV users? Is it convenient to use? Is t fast to get started?
Gambling on credit [3]
Hi Mr Tan,
With regards giving credit, what are your views for the following:
i) Margin trading (shares and forex) where you are actually using leverage which is the same as speculating with money that is on credit
ii) Speculating in property (Down payment of 20%, but you are betting on the increase of the other 80% of the property price, which is the credit given to you by the bank) for those yet to TOP new property.
iii) Credit cards - Borrowing twice your salary or getting a loan using cashline / unsecured credit. We can do that and gamble the amount away as well. Banks give credit for people in need of funds or to speculate in stock market. The only reason banks do their credit assessment and proper due dilligence is that they are worried the customers cannot pay and they will incur credit lossses after the customers lose money in stock market. Finally, it appears that the $26 million person probably can afford to pay, otherwise the casino will not give credit anyway.
REPLY
1) Speculating on margin is not the same as gambling on credit. The speculator has to put up the margin and if the price moves to the extent of the margin, the position is closed by the stockbroker - due to lack of margin.
ii) A person should buy a property for own occupation and to within 5 years of the income, so that the repayment of the mortgage loan is not a burden. It is bad to borrow 80% to speculate in a property, hoping for the price to move up and to sell it at a profit. This is dangerous speculation and should be avoided.
iii) Borrowing on credit card should also be avoided, as the interest burden is too high, i.e. 2% a month or 24% per annum.
If the gambler has to bring cash to gamble, he would not have brough t $26 million to gamble. The danger is to gamble on credit, as it could be unlimited. This can happen to any family. Imagine a member of your family come home and said that he or she owed a large sum of money to the casino - representing all the savings of your family!
With regards giving credit, what are your views for the following:
i) Margin trading (shares and forex) where you are actually using leverage which is the same as speculating with money that is on credit
ii) Speculating in property (Down payment of 20%, but you are betting on the increase of the other 80% of the property price, which is the credit given to you by the bank) for those yet to TOP new property.
iii) Credit cards - Borrowing twice your salary or getting a loan using cashline / unsecured credit. We can do that and gamble the amount away as well. Banks give credit for people in need of funds or to speculate in stock market. The only reason banks do their credit assessment and proper due dilligence is that they are worried the customers cannot pay and they will incur credit lossses after the customers lose money in stock market. Finally, it appears that the $26 million person probably can afford to pay, otherwise the casino will not give credit anyway.
REPLY
1) Speculating on margin is not the same as gambling on credit. The speculator has to put up the margin and if the price moves to the extent of the margin, the position is closed by the stockbroker - due to lack of margin.
ii) A person should buy a property for own occupation and to within 5 years of the income, so that the repayment of the mortgage loan is not a burden. It is bad to borrow 80% to speculate in a property, hoping for the price to move up and to sell it at a profit. This is dangerous speculation and should be avoided.
iii) Borrowing on credit card should also be avoided, as the interest burden is too high, i.e. 2% a month or 24% per annum.
If the gambler has to bring cash to gamble, he would not have brough t $26 million to gamble. The danger is to gamble on credit, as it could be unlimited. This can happen to any family. Imagine a member of your family come home and said that he or she owed a large sum of money to the casino - representing all the savings of your family!
Transcription Software for Video and Audio-Essential For Profitable Medical and Legal Transcription Work | Transcription Software
Transcription software for video and audio is easy to download and install on your computer; but before you can use it, you will need a USB foot switch. A USB foot switch is like the foot pedal on a sewing machine in the fact that this is the way that you start or stop the dictation from playing. This leaves your hands free to type and is the reason why you can go much faster with digital audio transcription software than with the Microsoft Media Player alone.
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