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Tips on Getting a Good Balance Transfer Card
June 19, 2008 | Posted by InvestorBlogger | Read these 2 comments
If you possess a credit card with a huge amount of debts and could only devote small monthly payments to paying off the outstanding amounts, then you might want to try balance transfers credits cards to lessen your burden. A lot of people transfer their balances from one card to another and taking advantage of new and fresh offers. This is basically known as rate surfing or card jumping.
Getting a cheaper rate: reduce your interest payments!
Balance transfer credit cards can be very useful in reducing interest rates on bank loans and other loans. If your credit limit is high then you might just be able to complete your loan payment. Some credit cards even provide checks solely for this purpose, however, you need to be very cautious about this. There are some cards checks that can cost higher rates more than the card itself. It is advisable to carefully read the fine print first before anything else. Most credit cards are generous enough to allow you in making balance transfer. This is the best resort after undergoing intense shopping spree.
Choose your balance transfer card
There are two types of balance transfers that you could choose from. A lot of companies offer consumers a chance to male balance transfers for a 0% rate at a certain fixed period, which may run from6 to 9 months. The moment the card expires, the rate of the outstanding transferred balance will go back to the standard rate. This will come out to be naturally a higher rate. The best way to utilize the benefit of 0% transferred balance is to get a new one before the credit card expires. You can transfer your remaining balance to a new credit card and continue the benefit of having 0% interest rate.
Don’t apply for too many cards
Be sure that you won’t apply for numerous credit cards all at the same time as this may affect your credit rating. Another type of transaction balance offer is the fixed rate of money that can be transferred granting that it will remain on the card. This is quite a good option if you are paying a high interest rate. This will offer a rate of 5% that is much lower as compared to the standard interest rates. Which ever type you choose, it will be a great help in lifting your burden in paying your outstanding balances.
Check the Purchase Rates, too!
Consider also the purchase rates of the credit card. This kind of offer allows you to check certain rates that can be applied to your purchases. Credit cards that offers lows transfer balance rate most of time have higher rates of credit card expenditure. It is also advisable that you make your payments to lower rates at first. This means that you will be paying a little because of spending on your credit card.
Regardless of the type of the card balance transfer, each of them have their own offer that could be of great advantage which basically depends on the outstanding amount of your debts and the way you spend and pay your balances. Shopping around with a balance transfer card in hand could give you a lot of savings.
Welcome to BlueHost dot com
June 12, 2008 | Posted by InvestorBlogger | Read these 3 comments
This time I’ve already set everything up and the transfer is working, though some people may still be seeing the old blog on the old site even now. I’m re-adding the plugins and theme features, though with the problems on DreamHost, I’m not sure how much I screwed up trying to get things workings properly…
The first few days have been quite a breeze on BlueHost, but we’ll see the how things go. I’m not easily impressed as I was with net stuff.
Other notes on this website: I lost a few comments from a few readers, especially from MoneyEnergy. Sorry about that… I was desperately trying to get the blog working and had a lot of unwanted spam as a result. I think I lost about a week’s worth of comments or so.
I’m noting how different things are from Dreamhost, too. Some things that are easy in one are difficult in the other or, at least, not obvious.
Other soon-to-be changes include the theme: I’ll be looking for ways to simplify the theme, and make things even snappier. On Dreamhost, InvestorBlogger used to be a little slow at times. I’d like the first page to load in under 10 seconds (for me), and subsequent pages to be even faster. Right now, it’s loading in about 18-20 seconds for the blog page.
Please do drop me notes on what’s not working or missing images and stuff, … I haven’t done a full audit on what I had installed yet… Will do soon.
Best Wishes
Kenneth
Your lightbulbs: Have you changed them yet?
June 7, 2008 | Posted by InvestorBlogger | Be the first to leave a comment
We’ve been swapping out our existing bulbs at school for the new energy saving bulbs, and cutting our use of energy by 40%, but we completely forgot about the 9 spotlights we put up about five years ago. Each of them has been consuming about 50W and we’ve been burning them 8-10 hours a day! It was only a few days ago that we realized HOW much each of those spots can burn, 450 watts or the equivalent of nearly 1.5 classrooms. But we only burn the lights in the classrooms about 4-5 hours a day, so we’re basically using them for nearly 2 or 3 times the regular classroom use, just for spots!
After seeing the ads in a local newspaper, I started investigating LED spots (there don’t seem to be any other type for energy saving), the usage seems to be between 2~4 watts: a considerable saving on power consumption. Also, the lights are cool, not hot to touch. And with an expected lifespan of 30K hours, it should be a sensible replacement. Except I couldn’t find any in B&Q… I’m looking for this type: LED Lamp with GU10 twist lock fitting, intended to replace halogen reflector lamps. (Thanks, Wikipedia!)
It seems the technology is evolving but is somewhat expensive, cumbersome to produce, and prone to problems with not producing enough light. We bought two samples: one to replace a full-size traditional bulb. It was quite expensive (NT$495), and when installed it was relatively dim compared to traditional bulbs and even the new energy saving bulbs. Also the light color was quite cold (almost white/blue). It is ideal for garages, less seldom used hallways, but for livingroom light these LEDs have some way to go. But the wattage was a little over 2.5w compared to over 100w regular bulb, it’s quite a saving and it should last quite a while. We already have a place for it.
At home we’ve reduced also our consumption of electricity for light from over 600 watts to a more respectable 325 watts. But we are using candle type bulbs, we can’t find anything in LED that resembles the shape, light color, or size that we need. I’ll keep looking. In the meantime, I was surprised at the different kinds of lighting that LEDs make possible. Click on the link in the image above, you’ll see some more unusual uses.
Are LEDs a good choice for InvestorBloggers? Perhaps: look at some of the companies producing or selling LED lights…
Save Money: Choose the right model, the best finances, and drive carefully!
June 2, 2008 | Posted by InvestorBlogger | Be the first to leave a comment
We’ve owned a delightful car for over 3 years… This year, we’re expecting to make our final payment in about six months. We could’ve done it sooner but we decided to delay. We purchased the Mazda 323 in the 1.6 liter version. This is an older model car, and is likely to be phased out in the future, but it was economical, reliable and affordable for us.
These days, though, the price of oil is now greatly increased in the four years since I bought the car. In my first year, we could fill the tank for less than NT$1000, but now we can only fill 2/3rds of the tank. Four years ago, we’d have a couple of hundred in change, but not now. It’s not the only thing that has risen in recent months, too. For many people, interest rates are rising on mortgages, and ARMs are resetting for many recent mortgage owners at much higher rates than they originally settled for. So, owning a car is now a much less affordable option for many people. Drivers in the UK have had to deal with significantly higher gasoline prices than in the US, so we’re well accustomed to looking at the efficiency of cars. But even now, there is still pain at the pump when drivers fill up.
If we were buying now, we’d probably make some changes to what we bought, how we financed it, and how we drive it. Making these changes would mean that driving is more affordable than it currently is, but there is no denying that owning and using a car is a lot more expensive than it used to be.
1. Choosing the model
We didn’t spend a lot of time researching the model of the car or any of the statistics of the particular kinds of cars. We had no idea about such things; instead, we went shopping for a dealer we could relate to, who’d help us through the first-time purchase, and whom we could call if we had stupid questions.
Korean or Japanese?
This time, though, we’d definitely spend more time researching the models and brands to see what the relatively better cars are. Living in Taiwan, we’d have a preference for Japanese brands, which are more reliable, easier to repair (available parts), and broader dealerships. In addition, we didn’t think that European cars were offering good value for money; American cars were either hideous, hideously big & expensive, or just unavailable; and Korean cars weren’t as good as Japanese in terms of reliability. Worse, Korean car parts were difficult to get hold of. So, we’d choose a Toyota or another Mazda definitely. Suzuki have some interesting offers in the small car size, but their sedans aren’t good or particularly safe.
Engine Size
Given that one of the predictors of economy is energy size, last time we chose a 1.6 liter. We wouldn’t shoot for much smaller than that, though. Perhaps we’d consider a 1.5 liter, which in a smaller or lighter car would be quite enough. We’d also consider choosing a diesel model. Toyota now produces some interesting models in the Yaris series. Suzuki also offers a great mini-car, called the Swift. This is a very popular model in Taiwan, but I’d definitely prefer the 1.5 model.
Efficiency
Given the cost of choosing less efficient cars, I’d be striving to find a car as efficient as possible. You’ll be looking to find one that uses gas meagerly, even in city driving; and one that is light on emissions. Carbon taxes are in everyone’s future.
2. Consider the financing
We originally financed Ed about three years ago, but four years for a car loan seems a little long now. Perhaps this wasn’t the best choice we could’ve made. But we didn’t have a clue about financing a new car, so we just took the deal at the showroom, and hoped we didn’t get screwed over. Could we have shopped around? Probably.
Shop Around for Financing and Insurance
You should always shop around for good rates. But you will need to be aware that there are additional costs that will need to be taken into account. Sometimes these additional costs will be included in a higher APR, but in lower APR you may find that the additional fees are separately charged. Do your homework.
Trade-In Values
If you already own a car, and would like to trade that in, this will likely offset some of the cost of the deal. Of course, you will need to get some idea of what is a fair market value for your car before you agree to do a trade-in deal.
Consider Second-Hand
Purchasing a good quality late model second hand car may save you a lot on the first few years depreciation. In fact, this is perhaps the single most effective way to save money on purchasing a car. You will also be likely to find a good deal in the model you want. Of course, you won’t get ALL the latest frills, but if you are considering price, perhaps the frills aren’t all that important to you. And you can get good financing on second hand carsnow.
3. Consider your driving
Once you purchase your dreamcar, you will need to give some consideration to how you want to drive the car. Let’s give examples to highlight what I mean.
Burn, baby, burn!
Gasoline is the single largest expense after ownership (barring any accidents!). While shopping around may help you save a few dollars in the short term, how you drive and when you drive will also affect your gasoline bill. For example, driving in rush hour with heavy traffic will significantly impact your fuel economy. You may decide to switch to carpooling to save time, money and stress. Also, you may decide to alter your route to work or school.
Parking: No longer an afterthought!
Going downtown in Taipei in recent years has increasingly given me sticker shock when I try to park. Though I shop around now for good quality inexpensive parking for longer periods, I now recognize that driving and parking is becoming more expensive than simply taking a taxi or subway. Parking downtown Taipei can cost more than $2.50 an hour in some public lots, and more than double that at more expensive urban locations.
Insurance: Choose the RIGHT products for YOU!
Don’t let the salesman strong arm your insurance policy. We just accepted the salesman’s recommendations for the first couple of years, but as the company kept changing our renewal terms and conditions, we began to feel that we were a conduit for the insurance company’s finances. Eventually, we went through the insurance plan and cut most of the items that we were being charged for. It’s wise to find out what is legally required, what is good policy, and what is excessive. When the policy exceeds 1/10 of the secondhand value of the car, we realized that we were being gouged.
We’ve only owned a car for more than three years, but when we do purchase a new one, we will be much more astute than before. But we do like our salesman, Mr. Hwang, so it is likely we will seek him out first. That’s got to be good advice, isn’t it?
Brought to you by NetCars.Co.Uk Car Finance.
Credit Card Bills: May 2008
May 30, 2008 | Posted by InvestorBlogger | Be the first to leave a comment
Well, it’s here… It’s the latest credit card bill, and I was horrified/pleased… I took one look at the total, and I was staggered. Over NT$15,000, and I can’t remember why… Oh, wait! I’m looking at one of them… Oops! Both. So what happened?
Yes, that’s right… each one cost NT$6500 and I bought TWO… Was I crazy?
I don’t think so… But I DID hide one of them for nearly a week before I brought it out so that my wife wouldn’t scold me TOO much. Does it help? In actual fact, it does. It helps to make me more productive: using two CPUs and systems is always going to be more productive than one SUPER processor. I had intended to buy bigger monitors (22″ LCDs) but was worried about the optimal settings for the monitors on my graphics cards. Turns it wasn’t an issue. The computer configured the display automatically.
I don’t have to have multiple windows open all the time: switching between numerous windows just helps one to lose focus on the primary task - that’s already a challenge on the Internet. Second, I can allow one computer to carry out several functions: playing music, uploading files, downloading programs, looking at my brokerage account… whatever. The other computer can be the main task I’m doing right now: but a quick glance at the other screen is often all that I need to help me focus and finish the task. Neat.
So here’s the bill for May 30th.
- 2 19″ LCD Monitors - NT$13,000
- 1 Phone Bill - NT$376
- 4 CDs - NT$1,222
- Life Insurance - NT$2000
- Total = NT$16,598
That’s it. No interest fees, no late penalties, no outstanding balance. And some bonus points.
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