tag:blogger.com,1999:blog-71228752024-03-07T18:40:44.290+07:00Inge Santoso - Learn and Grow!Inge Santoso's Blog on Learning, Motivation and Personal GrowthAnonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.comBlogger288125tag:blogger.com,1999:blog-7122875.post-56933667273015382932018-01-05T05:33:00.002+07:002018-01-05T05:33:33.976+07:00Are you Inge, the Photographer?<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2cHFSI0DZhSB-WExzfEdVkeqS9outEYT5OpmwcE2UjN8PDk8q-h2vrZHFGn5dwAFDb6zjN49Dy5uUgwtxf5hqOZsgG3-PMnKiQwkcrMbj0dHMjnvtzHdut3cYHHziAn07OEFArA/s1600/photographer.JPG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="686" data-original-width="960" height="228" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2cHFSI0DZhSB-WExzfEdVkeqS9outEYT5OpmwcE2UjN8PDk8q-h2vrZHFGn5dwAFDb6zjN49Dy5uUgwtxf5hqOZsgG3-PMnKiQwkcrMbj0dHMjnvtzHdut3cYHHziAn07OEFArA/s320/photographer.JPG" width="320" /></a></div>
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This morning I received a call and she asked, "Are you Inge, the photographer?"</div>
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Since I have never considered myself as a photographer, I said no, thinking she might have mistaken me for someone else. Then she asked again whether I was the one who often took photos at Vihara Dhamma Sundara. It was not a mistake, so I said yes.<br />
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She asked whether I could take photos of her child's engagement party. I told her that I was not a professional photographer, so I declined.<br />
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She was quite insistent. She said that I had good camera equipment and surely I could take a simple assignment like taking photos of engagement party at home. Once again, I felt that I was not good enough to be called a professional photographer, I declined for the second time.<br />
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Somehow she believed that I could do the job and kept asking me, explaining that it was a simple engagement and she only needed 30-40 photos printed for the occasion. For the third time, I declined because I did not good enough editing skills for post-production.<br />
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Finally, she took 'no' for an answer.<br />
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After saying 'no', I could not get this incident out of my head. I wonder why I declined this opportunity.<br />
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First, I feel that I am not good enough to be called a professional photographer. I have never been paid for my photos or services. Did I refuse because I was just too afraid? Did I refuse because I felt unworthy?<br />
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Second, I have expectations regarding the role of professional photographers. A real professional photographer has the ability of editing in post-production and will produce good results. I have no editing skill other than cropping, adjusting brightness and contrast.<br />
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Third, I consider whether this assignment is worth my time and effort. It may be an experience but I do want to be compensated for my effort. It is called professional service and not volunteering to help anymore.<br />
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Last, if I want to be a professional photographer of my choice, I want to be a travel photographer.<br />
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What do you think? Should I have said 'yes'?Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-29241826854010899022018-01-01T16:41:00.000+07:002018-01-01T16:41:40.603+07:00Does Honesty Pay?<div class="separator" style="clear: both; text-align: left;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgIYLuqE3AFlTMfdTvocEgq-YlyXjG3AYxULdkT2n_4sdG0wDYNO5sBW4nYUG_3mTDa7rBn3JtbPfw26_DZMFT8qGN_d-O_F3fgSn_I9-0fugY8OZNGyx8QSEp9Uwl_oU7hRlgw7Q/s1600/50000_rupiah_bill%252C_2016_series_%25282016_date%2529%252C_processed%252C_obverse%252Breverse.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="240" data-original-width="270" height="177" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgIYLuqE3AFlTMfdTvocEgq-YlyXjG3AYxULdkT2n_4sdG0wDYNO5sBW4nYUG_3mTDa7rBn3JtbPfw26_DZMFT8qGN_d-O_F3fgSn_I9-0fugY8OZNGyx8QSEp9Uwl_oU7hRlgw7Q/s200/50000_rupiah_bill%252C_2016_series_%25282016_date%2529%252C_processed%252C_obverse%252Breverse.jpg" width="200" /></a></div>
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Does Honesty Pay? </div>
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Last night our family had dinner at Ah Yat Abalone Seafood Restaurant, Rimba, Jimbaran Bali. We went back to our hotel, Movenpick Resort & Spa, Jimbaran by Blue Bird Taxi. Our taxi cost Rp 50,000, so I took out my wallet and gave the money to the driver. When I was walking away from the car, the driver called and he returned Rp 50,000 to me because I gave him two notes of Rp 50,000. I thanked him for his honesty. Then I had an idea and I gave the note back to him and wished him a happy new year! </div>
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Honesty pays because he feels good and I feel good too. </div>
Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-78950028535840573452014-01-08T15:09:00.000+07:002014-01-08T15:10:49.798+07:0052 Week Saving Challenge<p><a href="http://lh3.ggpht.com/-8uzwGIchms4/Us0H_mNfTPI/AAAAAAAABiE/jB2kXY41Mik/s1600-h/image%25255B6%25255D.png"><img title="image" style="border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px" border="0" alt="image" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgdmrddjn9xtGc-v9DoqMPDMWV5woN76QwbTVN1UJCmFKNBjWl6PEayCspgHjMSV8X_HXeadqWitHQPMal1UuBlUCIUp8feCPGf6llQKcCo_vbi2rmZ_a6koVbTwoIr-eXqYWKViA/?imgmax=800" width="488" height="399"></a></p> <p>I am taking a 52-week saving challenge this year. </p> <p>I’ve seen many variations of this 52-week saving challenge on the web. I choose the random amount method and highlight the amount that I save that week. </p> <p>For example, last week I saved Rp 300,000 and this week Rp 400,000 then I highlighted the amount that I have saved. Until the end of the year, I would have saved Rp 13,780,000. </p> <p>I’ve put up the easy, medium and hard challenge if you want to do it as well. </p> <p>Get on track with your saving! </p> <p>Create your own saving challenge and share with us.</p> <p>Learn and Grow!</p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-31883353250877077462013-06-05T11:43:00.000+07:002013-06-05T11:45:06.673+07:00Sweeping Under The Pouring Rain and Emergency Fund<p><img style="border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; padding-right: 0px; border-top-width: 0px" border="0" alt="20130604-132553.jpg" src="https://ingesantoso.files.wordpress.com/2013/06/20130604-132553.jpg?w=585"> <p>Last Sunday I was enjoying a cup of hot mocha latte at Starbucks while watching the rain outside. I saw one guy sweeping the water away from the walkways and stairs. It seemed like a futile thing to do because the rain water kept on pouring down and when he got to the end, he had to come back and swept again. <p>What would you have done in that situation? If this was your own house, you would probably have waited until the rain had stopped before began sweeping. Well, I would anyway. <p>We often do not like doing something that seems futile and has no immediate or apparent results. For example, building a sizable amount of emergency fund. There seems to be countless emergencies popping up draining away our emergency fund, and we keep on trying to replace the depleted account. It may feel futile and sometime we just want to give up. <p>When you want to give up, remember the lesson from the sweeper. He kept on sweeping because he wanted to minimize the risk of people falling down due to slippery walkways or stairs. It was not futile because it was about minimizing loss and risk. <p>When we build our emergency fund, it is also for minimizing loss and risk. We reduce the risk of falling back into debt. It is not a futile thing to have a money cushion in the event of emergency or unexpected situations. <p>If you are still struggling to build your emergency fund, don’t give up! You are on the right track and sooner or later you will get there. Press on! <p>Learn and grow!<br>Inge Santoso, B. Com, CFP® Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-13564806783275645322013-06-01T13:28:00.001+07:002013-06-01T13:28:48.367+07:00My Luck with Starbucks<p><a href="http://lh6.ggpht.com/-SkCsbWHB_Pc/UamUm3YZGQI/AAAAAAAABdA/xIya-5KmVaU/s1600-h/starbucks%25255B7%25255D.jpg"><img title="starbucks" style="border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px" border="0" alt="starbucks" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeXEax6v_O7aWPqcbWAx6Nr7Mg3l-aWx0MqlOsmnPFXZSx24d9Vx1usBMchGajr4GVZrZGUXoP5swphtgvVWgBTmEwLbHu9DnizG9iWSO9EJB17rj8YpMvmPd1ot9DIg0Z3H73kA/?imgmax=800" width="420" height="320"></a></p> <p>Yesterday I went to Starbucks to buy Starbucks’ 11th Anniversary mug. I had a voucher that entitled me for 30% discount. The price of the mug was quite expensive, Rp 75,000, and after discount it would be Rp 52,500. </p> <p>While I was there, I was offered to get Starbucks Reward Card with a minimum balance of Rp 100,000 and only for yesterday, I could get a free beverage (Mocha Cookie Crumble Frap tall size). I thought it was quite a good offer and I certainly could use the discount, so I agreed to get the Starbucks Reward Card for Rp 100,000. </p> <p>When they entered my purchase into the cash register, somehow the total amount came out to be Rp 130,000, instead of Rp 152,500. I told them that the amount did not seem right and they also agreed with me, but they had to follow the cash register. I ended up paying only Rp 130,000. </p> <p>I considered myself lucky when dealing with Starbucks because yesterday was the second time that I got something extra from Starbucks. Last time, I got an extra free drink because of another error. </p> <p>I put away Rp 22,500 into my lucky note stash to remind myself that sometimes I am just lucky! </p> <p>Do you have similar experience? If you do, please share in the comments.</p> <p>Learn and Grow</p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-26864705772896071992013-05-24T08:00:00.000+07:002013-05-24T08:00:05.004+07:00Credit Card and Airport Lounge<p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiw0EC2SYp-TtPLSiJTxW9KwFSv5y8ZTkB5HSyiTtPjplRtz2AzSyZyloIoP_UywEdobCxi8gf7osxWy2q8z2eNkjC10FHQgmn7BgYjexY7LosD03P8FRNeveI0guLwfwsSjJi-/s640/blogger-image-1911824030.jpg"><img style="background-image: none; border-bottom: 0px; border-left: 0px; padding-left: 0px; padding-right: 0px; display: inline; border-top: 0px; border-right: 0px; padding-top: 0px" title="clip_image001" border="0" alt="clip_image001" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjMcfpIQ_Bswuyy9gQIKDpG95CD9Jn-bMrwThySewVjgh-LzD4GEEP1XofJEEEbU1c1oIfnffk7UebsF7W_QTWRZqei8VesE32k_iFkLbT92N1u9nXjS8BpnXbrWRYKZBqFTnHMtQ/?imgmax=800" width="304" height="229"></a> <p>One of the reasons I have a credit card is free airport lounge access. A few years ago, gold card could get you a free airport lounge access. Nowadays you need to have at least a platinum card or higher (titanium, privilege, emerald or whatever they want to call it) to have a free access. If you have a gold card, then you may be able to use your reward points to get access. <p>Is it really free? No! <p>If you are paying a yearly fee for your platinum card at about Rp 600,000 to 750,000, then it is not really free. <p>If you carry a balance on your credit card and you are paying interest, then it is definitely not free. You are actually giving subsidies to those people who pay their balance in full every month. <p>If you are offered to apply for a new credit card just to get an airport lounge access, be smart! Ask yourself how often you are going to use the facility. If you travel less than 10 times a year, then you'd be better off just paying cash Rp 50,000 for one time access. If you only want some 'free' food available in the airport lounge, it is better to get a proper and more delicious food somewhere else. <p>If you have a credit card that give you free access to airport lounge, then use it and enjoy yourself! If you have access for two, then get acquainted with someone new and use it to make friend. <p>Learn and Grow <p>Inge Santoso, B Com, CFP<sup>®</sup> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-85325981995962497052013-05-20T07:30:00.000+07:002013-05-20T07:30:02.350+07:00Take Care of Your Finances Before Going Traveling<p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9vEI8X3LO3-ymFvnRNMAuAVo-9gxWIRroXLMwDakld3HjoFqWUEtxzXBaz0g2cKdJ25oRqoInRRrFHbhq6G2eodAEjMgBBU4MntvZ8oZq8DywpZ6-Ilg4SIct761EGNp0SjvcjA/s1600-h/nc130324%25255B12%25255D.jpg"><img title="nc130324" style="border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px" border="0" alt="nc130324" src="http://lh3.ggpht.com/-IsDhppi2sl8/UY5snZa3kdI/AAAAAAAABaI/xEL6lc62kZA/nc130324_thumb%25255B10%25255D.jpg?imgmax=800" width="420" height="576"></a></p> <p>If you have a plan to travel overseas for more than a week, please remember to take care of your finances. </p> <p>If you know that you have bills due to be paid while you are overseas, you need to arrange the payments, either paying them online or delegating the task to someone that you can trust. If you have automated payments by debiting your account, then you do not need to worry about it. Just make sure that you check the amount when you get back from the trip. </p> <p>Please remember to pay your credit card bill because the late charge and interest are punishing. I know one bank charges Rp 150,000 just for late charge. Imagine if you are only using your credit card to buy one mocha latte at Starbucks for Rp 31,000 and you get to pay Rp 150,000 late charge – Aaaarrhhh! Pay your credit card bill early! </p> <p>This month, I paid all my credit card bills on the same day as when the e-statement arrived because I plan to go on a trip. I do not want to cut it too close because I will only come back one day before it is due. Better early than sorry!</p> <p>What about savings? I have an automated system to save and invest my money, so I am covered. Every month, my account will be debited and that money will go straight to saving and investment account. Automated savings makes life easier and you can have more time and freedom to do what you want. </p> <p>How about you? What do you usually do before going traveling? If you have some tips or comments, please share. </p> <p>Learn and Grow!</p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-32085190701805669582013-05-15T12:19:00.000+07:002013-05-15T12:19:00.758+07:00What Can An Old Childhood Toy Teach Us?<p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEibsYppLrXxJEJMWtyV43c7voWrSJ042LWJvsvdaA2ylIMjqDDbduX_DxtTgr7IgSwX7HidqMq6d8dKpBxhUi1dGLbIjCczJyUnjJfXR-aaqHq5hUwin385ylvMgXUubGsGdobQew/s1600-h/2%25255B5%25255D.jpg"><img title="2" style="border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px" border="0" alt="2" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEio5aLWZ72H0HhKL25WlMq4Ajwuq_w-3bhz9V7U7tDBBCA1ZEbmFw7KlPtOHlXqNk2MQNUhb3pnzQ5UxrPM542X0FY_4qx0j189yakznVtz9mO8LR38z0auVcmMaEFUipP2EORKCA/?imgmax=800" width="476" height="371"></a></p> <p>Yesterday while shifting stuff at family storage, I found this driving simulation toy from my childhood. I did not quite remember whether I got this for my 11th or 12th birthday, but I remembered the process before getting this toy. </p> <p>The toy was displayed in a toy store just opposite our old house. I regularly came to the toy store just to see what was new and interesting. When I saw it, I really wanted to have it. In the 80s, something like this was already a very technologically advance toy. The screen on the right displayed the road and when you turned the steering wheel, the car moved from left to right. I could not remember whether the speed changed by shifting the gear. Anyway I was quite obsessed in getting this particular toy. </p> <p>I told my parents that I wanted this toy for my birthday. They tried to persuade me not to buy it because it was quite expensive. I said I wanted it and I gave them several reasons why I wanted to get it. One of the reasons that I told them was that I could use it to practice my driving skill so I would be ready to drive by the time I reached the age of 17. When I think about it now, I realize how ridiculous the reasons and excuses that I gave to my parents. Yet they still bought me the toy. </p> <p>I played with it for about a week or so, and I just got bored with it. I did not think that I would lose interest that fast, but it happened. It went to the storage and I just found it again after more than 20 years. I showed it to my 3 year old nephew and he was not even interested in it, the iPad certainly had more appeal to him than something like this. </p> <p>What can we learn from this?</p> <p>Sometimes we are still like little kids. We want something so bad and we start making up reasons why we need it. We build a strong case about why we need and have to buy it now. Even the most ridiculous reason seems reasonable and acceptable.</p> <p>We can be so stubborn and do not want to hear other people’s advice or recommendation although they can see it more clearly than us. Sometimes they just keep quiet after a while because they can’t be bothered speaking to closed ears and mind. So if you still have friends who are honest with you about your silly purchases, be glad you have them around. </p> <p>Remember that the excitement often occurs during the wait, and we simply lose interest after we have it. Why not just keep waiting to keep the excitement going on and on? Hahahaha In a few months, we will be enchanted by different or newer toys anyway. At the moment, I am excited thinking about getting a MacBook Pro in December…I’ve been waiting for more than two years…perhaps I will buy, perhaps I will wait for the next and more advanced MacBook Pro. </p> <p>Learn and Grow</p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-39113582840541533082013-05-07T12:04:00.001+07:002013-05-11T23:09:14.256+07:00Things You Need to Know When Going to Investment Seminars<a href="http://www.cartoonstock.com/newscartoons/cartoonists/hsc/lowres/hscn521l.jpg" target="_blank"><img alt="investment seminar" border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgwQ7x0d2d9QNYchfPhIW4JP8h9SH1mDsD92N9tcLo9BqG-vhz3WT3zpPAPmgg6xF_79u2ALktiirJ_COnksG-gewmkz7oFSFVs3815XIOYyargrkT73-kUtHmtehzC4821ywZnIw/?imgmax=800" style="background-image: none; border-bottom-width: 0px; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; display: inline; padding-left: 0px; padding-right: 0px; padding-top: 0px;" title="investment seminar" width="391" /></a><br />
Have you ever been to an investment seminar?<br />
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I like going to those free investment seminars and gatherings because I get to know many different products offered by various banks and financial institutions. If you are interested in learning more about financial products, you can come to these events with some cautions.<br />
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Although it is often called a seminar, more often it is more about selling investment products. Even if it is a financial institution’s consumer gathering about economic outlook, at the end, we are often told about some new product offerings.<br />
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Sometimes we get emotional when hearing the special offer available that day. <br />
For example, for the first 7 people who open an investment account with a minimum balance of Rp 100,000,000 will get a cashback of Rp 300,000. You can use the money to trade, but you are not allowed to withdraw for the first three months. We feel like we are getting some free easy money, but when you really calculate it, it is not really worth it.<br />
<br />
If you are loaded with lots of money, that amount may be a spare change for you and it does not matter where you put it. However if you are not, you need to think about the opportunity cost of putting that money there. You need to think whether there are better alternatives for you. <br />
<br />
What do you need to do if you come to these seminars?<br />
<ol>
<li>Come with a clear goal in mind – is it just to learn about an investment product? Then come to learn and do not buy anything. </li>
<li>Ask a lot of questions. If you do not understand the product, do not invest in it. </li>
<li>Get a second opinion from someone outside the seminar, preferably those with financial knowledge and unrelated to the financial institutions that are offering the products. If you have a trusted certified financial planner, you can ask him or her. <div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjzWOxtqEQqDAbkZcAQ-H-QKkLQt-mJP847jrnnxaXLcwrsgXgClVu2uEeeZCWf6uFrPT23jlmOHvj2HexOqsUxkXzmT-kzNNz90-mAK8cX1XurLv2iXGt_3gKl7cyJDrSS9yGJcA/s1600/ziggy+second+opinion.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="195" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjzWOxtqEQqDAbkZcAQ-H-QKkLQt-mJP847jrnnxaXLcwrsgXgClVu2uEeeZCWf6uFrPT23jlmOHvj2HexOqsUxkXzmT-kzNNz90-mAK8cX1XurLv2iXGt_3gKl7cyJDrSS9yGJcA/s1600/ziggy+second+opinion.gif" width="200" /></a></div>
</li>
<li>Be skeptical, especially if they are offering something that is too good to be true because it often is. If they are saying that it is a no-risk, high return investment, then run away as fast as possible because nothing is without risk. The higher the return, the higher the risk. </li>
<li>Do not get pressured by the account officers or sales people, especially if they say that if you do not take action now, you will miss out on the profit. Let it go! There will be other opportunities to make profit! </li>
</ol>
Just like reading books, financial blogs, going to investment seminars can help you to be more knowledgeable about financial products. Use the opportunity to learn and may what you learn take you closer to your financial goals.<br />
<br />
Learn and Grow<br />
<br />
Inge Santoso, B Com, CFP<sup>®</sup>Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-19425681217449398992013-05-03T08:00:00.000+07:002013-05-03T15:24:31.727+07:00How Much Interest Are You Getting from Your Bank? 0%?<p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirSWoleKkhbER31G7bpDZxn-sf0OiNyCxTCZDYiTVXF_xCpazzdwcy7CVgvYABcPuZD88jgMQ9EXvC3EuLOWHtt0IXsqlFsFmV9aBAL0dnolpKgK6_1Fc1z9V6aTFycWR1djKWmA/s1600-h/fe%252520zero%252520percent%252520saving%25255B9%25255D.gif"><img title="fe zero percent saving" style="border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px" border="0" alt="fe zero percent saving" src="http://lh5.ggpht.com/-IEs07dID4-w/UYN0FpsbtKI/AAAAAAAABVM/6fTSv3FOQS0/fe%252520zero%252520percent%252520saving_thumb%25255B7%25255D.gif?imgmax=800" width="457" height="140"></a></p> <p>Do you know how much interest you are getting from your bank? </p> <p>In Indonesia, for most of the banks (BCA, Mandiri, and BNI) that I know of, if your balance in the saving account is less than Rp 1,000,000, you will earn 0% interest.</p> <p>If you have money less than Rp 1,000,000 sitting in the bank at the moment, you’d be better off by having the same amount under your bed. Why? Because not only you are not getting anything, but you are losing money through bank charges ranging from Rp 10,000 to Rp 12,000 per month. </p> <p>What should you do if your saving account’s balance is often under Rp 1,000,000? </p> <blockquote> <p>Get a saving account with no administration fee! </p></blockquote> <p>There are several banks that offer free admin saving account – for example TabunganKu that has limited features such as a maximum of one or two withdrawals per month. Each bank has different terms and conditions for TabunganKu, so please go to the bank official site to get more information. </p> <p>Personally, I prefer Danamon Lebih when it comes to free admin bank account because not only there is no admin fee, but I can get cash back (max Rp 50,000 per month) from using the debit card when shopping. I also get an ATM card and internet banking facility. </p> <p>We need to be smart when it comes to our money. Try to get the best deal that suits our needs! </p> <p>Learn and Grow</p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> <p><sup>Note: This is NOT a sponsored post </sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-38432390321603168082013-04-26T18:54:00.001+07:002013-04-26T18:54:14.768+07:00Interest – Part 3 Rule of 72<p>A quick and easy way to calculate compound interest is using the rule of 72.</p> <p>In finance, the rule of 72 is used to estimate how many periods the investment will be <strong>doubled</strong>, given the interest percentage per period. </p> <p>The formula is very simple</p> <p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjUyp1JpVkOJOi-ZW8syP35X-n99vktbYEVx8gw8bV6Fl3s3GSbpzOCnVH9k4_NzxtxbkLZC_-8vtIgo1Lt_L9xfwjEYOifqfqm_VZ9Ff6tuntDFK84RdL3Gjr1MEUwDMkBZ8J3dQ/s1600-h/1%25255B4%25255D.jpg"><img title="1" style="border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px" border="0" alt="1" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgy-PI7Q4gp84IeIUnMx9-g4b3sC8y4RPIEhEE8LP3yQyumsD97sYIBxw_6hPR0d69sFIVeqxdHO_EYsDsv7OyKa7XgRMLoEf1PqDvd-BxBEwgpDJw43vgXtJ61PMzg-veLup7ajA/?imgmax=800" width="360" height="365"></a></p> <p>If you can get a 12% interest or return on your investment per year, how many years will you double your money? If you invest Rp 10,000,000, when will it be Rp 20,000,000? </p> <p>n = 72 / 12</p> <p>n = 6</p> <p>So it will take approximately 6 years to double your money or make your investment become Rp 20,000,000.</p> <p> </p> <p>Let’s take another example. If you want to double your money in 3 years, what is the rate of return that you need?</p> <p>3 = 72 / r</p> <p>r = 24</p> <p>So you will need an interest of 24% </p> <p> </p> <p>What is the number if you want to know when your money is tripled? Use Rule of 114</p> <p>What is the number if you want to know when your money is quadrupled? Use Rule of 144</p> <p>Remember to use this rule as an ESTIMATE because it is not meant to be exact. It is good for rough calculation that you can use without a financial calculator or spreadsheet. </p> <p>Learn and Grow!</p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-25450853653580169312013-04-23T10:45:00.001+07:002013-04-23T10:45:10.553+07:00Interest – Part 2 Compound Interest<p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh1VneSRSBXG8XskItuc_p4mm7_NXxKMWKJkBHQyMuTB8wzjyftBAi91s9dEgXlUm2UKHn_GKnL6L-xmUKz0l2HEuAZ-WjRdAdL1-MVh_pa5RD6rwq3cgfWYv6ErCTsVZ7cWaP2Yw/s1600-h/salt%252520compound%25255B17%25255D.jpg"><img title="salt compound" style="border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px" border="0" alt="salt compound" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgELk0De2y_FpnRC9K0o7_VEc3d_ncXqzUO53lcxSv1Sak79FMOQAvTJ296hHmBl7Dpz9W8B28v2RF-46L0LE-WI3Om6lQTDFKCYCHnDXJoOFGETlupdWi0rlAju0_o-8JR6NRWSw/?imgmax=800" width="430" height="181"></a></p> <p>Compound interest is interest upon interest. That is, when an interest payment is added to the principal and then the whole thing (principal + interest) earns interest.</p> <p><strong>How does it work?</strong></p> <p>If you invest Rp 1,000,000 and the compound interest is 10% a year, then</p> <p>Year 1 : Rp 1,000,000 + (Rp 1,000,000 x 10%) = Rp 1,100,000 </p> <p>Year 2 : Rp 1,100,000 + (Rp 1,100,000 x 10%) = Rp 1,210,000</p> <p>Year 3 : Rp 1,210,000 + (Rp 1,210,000 x 10%) = Rp 1,331,000 and so on</p> <p> </p> <p>Compound interest is what can make you rich when you invest. One of the most important elements in compound interest is time. The longer the time, the greater the impact. </p> <p>That’s why the <strong>best time to invest is yesterday</strong>! <img class="wlEmoticon wlEmoticon-smile" style="border-top-style: none; border-left-style: none; border-bottom-style: none; border-right-style: none" alt="Smile" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirH9QzDPXzkhdYR2XNk7ZwdW1TieFp-RcCAchzgYweJxbtbqtPZv-YCcffF7bwAof9JQSEOpLPyXdIGpQT8iXOa2KJfXKpEXXxO-HbPLVpdJ1UNMrfAMlEFwjVL3uBBSKbSxAvCQ/?imgmax=800"> Since you cannot go back to yesterday, then the next best time is <strong>NOW</strong>! </p> <p> </p> <p>Perhaps you have heard this story…</p> <p>One day a father and his son went to play golf. Before they started the game, the father asked his son. </p> <p>“Son, would you prefer getting a lump sum Rp 50,000,000 or getting Rp 1,000 on the first hole and doubling it for next hole until you reach the 18th hole?”</p> <p>After thinking for a few seconds, his son said, “Rp 50,000,000, Dad.”</p> <p>“That’s why you still need to learn, Son. I’ll show you why.”</p> <p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgWuHSN_yKrMTEeF8McfcA-8Jfbf2NI8cpVW5eg1Cd70VXTIoqknmcuxjhTTgNqgK4cOahb6dpj_ja-lhlRcIIjbazkwc_MCEVa0YcgSYXcmDtLPSkmD8VyqYMIUBpXANI_KU7J6Q/s1600-h/golf%252520course%25255B6%25255D.jpg"><img title="golf course" style="border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px" border="0" alt="golf course" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj9LSRmDFZNrt5AIMI2m8qMI4Oa83rq9WNe5el3bEbZNeBAUDS9e9JLnULnjdJEJYKdpvhKOD9GbnQ8dxvE7NBzeCfvHCBKmm3PbJAfDchJ45NvSWWscp8rAVSPCAbLgnbUi0QcIg/?imgmax=800" width="420" height="287"></a> </p> <p>“If you choose doubling that Rp 1,000, at the 18th hole, you will have Rp 131,072,000 and if you total all the money from hole 1 to 18, you will get a sum of Rp 262,143,000. You will get about 5 times more.”</p> <p> </p> <p>What can we learn from this story? </p> <p>1. It’s OK to start small. The most important thing is to start NOW. </p> <p>2. When you have more money, save and invest more! </p> <p>3. You may not be able to get an interest of 100% like in the story, but there are financial instruments that can get you better return than bank saving rate. </p> <p> </p> <p>Learn and Grow!</p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-28361279959325978712013-04-22T10:06:00.001+07:002013-04-22T10:07:17.818+07:00Interest - Part 1 Simple Interest<p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXUsGd6YvLFWCzISiyxbXGqs98tM4nt3REyvKyYoIQEX8lid4cFFKWuwHAFk0pvis-Sist6197H_K2IIQMseaIsH5hD9s3n_-Vl3sStXXCfQWvCOCWu1dT8r-9q_q3o9f555_OQA/s1600-h/1%25255B9%25255D.jpg"><img title="1" style="border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px" border="0" alt="1" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSh88RPJsDHD1v3LPtbbIGzM1naww977qFKbAGJ8-QK6bUpbAmYplRyeZeUaDxdGdanQWwkJkXPZY7GTPQibzZLP_LHWa4n-6Gm49iGMtsW2NIq9bUNaAEj_SV_5b8hJdzrKVhfg/?imgmax=800" width="232" height="240"></a></p> <p>When we talk about investment or borrowing money, we need to understand interest. </p> <p>For most of us, we had learned how to calculate interest when we were at school, but we might not put much attention to it because we were too young to understand its implication. We only learn the mathematical aspect of it without understanding how important it will be when we grow up and start saving, investing or borrowing. </p> <p>Today we will learn about <strong>SIMPLE INTEREST</strong>. Interest is how much you pay for the use of money. If you borrow money, then you pay interest. If you lend or invest money, then you earn interest. </p> <p><em>Example 1</em>: If you invest Rp 1,000,000 and the interest rate is 12% a year. How much interest will you get in 3 year?</p> <p>You will get an interest of = Rp 1,000,000 x 12% x 3 = Rp 360,000 </p> <p>The amount of money you will have after three years is </p> <p>Rp 1,000,000+ Rp 360,000 = Rp 1,360,000.</p> <p> </p> <p><em>Example 2</em>: If you borrow Rp 5,000,000 and the interest rate is 10% a year. How much you will have to pay if you borrow for 3 years?</p> <p>You will have to pay back = Rp 5,000,000 + ( Rp 5,000,000 x 10% x 3)</p> <p> = Rp 5,000,000 + Rp 1,500,000</p> <p> = Rp 6,500,000</p> <p> </p> <p>Tomorrow, we will learn about COMPOUND INTEREST.</p> <p>Learn and Grow</p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-11603031654799265142013-04-15T12:01:00.001+07:002013-04-15T12:01:43.073+07:00Info Seminar 27 April 2013<p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjoMmccXJwJIjS33KZ7PhV-Gb-Xr1PG7n7rrUfGmzM0f7I4CJQh06YFN3Hz-xoHcU74U0rinSlRjblqfb2WuM_W5dr2EL85UTUyaDDFGm9o-JwctFwfqjdhnkT0rOfYjK_sjMBGgg/s1600-h/DISC%252520MONEY%2525203%25255B6%25255D.jpg"><img title="DISC MONEY 3" style="border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px" border="0" alt="DISC MONEY 3" src="http://lh5.ggpht.com/-12GfBHnCsyg/UWuJteqQk3I/AAAAAAAABNk/kRdq7j2EJEs/DISC%252520MONEY%2525203_thumb%25255B3%25255D.jpg?imgmax=800" width="430" height="607"></a></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-37800458563928513262013-04-15T08:34:00.001+07:002013-04-15T08:34:25.624+07:00Financial Lessons from Warren Buffett<a href="http://www.bestfinanceschools.net/warren-buffett-advice/"><img border="0" alt="10 Financial Lessons We Can Learn From Warren Buffett" src="http://ig.bestfinanceschools.net/warren-buffett-lessons.jpg" width="440"></a><br>Source: <a href="http://www.bestfinanceschools.net">Best Finance Schools</a> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-51568308998002706462013-04-10T12:10:00.001+07:002013-04-10T12:10:15.328+07:00Wishing Wishy-Washy Wishes<p><a href="http://www.gocomics.com/ziggy/2013/04/07"><img title="ziggy wishy washy" style="border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px" border="0" alt="ziggy wishy washy" src="http://lh5.ggpht.com/-WvoABwJtVcY/UWT0Nu3O9CI/AAAAAAAABMU/zDWu6jk3QEU/ziggy%252520wishy%252520washy%25255B7%25255D.jpg?imgmax=800" width="476" height="335"></a></p> <p>I wish…</p> <ul> <li>I have more money, <li>I have a new car, <li>I have a bigger house, <li>I have the best smartphone, <li>I win a lottery, <li>I get a windfall from distance relatives, <li>I get a pay raise at work, <li>I can travel more, <li>etc. </li></ul> <p>I wish…I wish…I wish…so many wishes, but unfortunately they will remain just wishes. </p> <p>If you want to your wishes to come true, one of the first things you need to do is to change your wishes to goals. Some of you may have heard SMART goal setting that goals need to be Specific, Measurable, Attainable, Relevant and Timely. </p> <p><strong>Specific</strong> – What do you want? Why do you want it? How are you going to do it? You need to be very clear about what you really want. For example, instead of wishing you have more money, you can set a specific goal of saving 10% of your income or Rp 1M a month. </p> <p><strong>Measurable</strong> – You can quantify your goal and measure your progress. For example, if you want to have a saving of Rp 6,000,000 in a year, then you can measure your progress when you save Rp 500,000 a month. </p> <p><strong>Attainable</strong> – You need to believe that you can achieve this goal. You need to set a goal that is big but not impossible to achieve. For example, if your income is Rp 10M a month, saving Rp 1.5M a month or 15% of your income is attainable. If you say that you will save Rp 5M or half of your income, it will be very hard, especially if you have a family to support. If it is too difficult you are not going to do it, so set a goal that will excite and motivate you to achieve it. </p> <p><strong>Relevant</strong> – How is the goal relevant to your life or purpose? For example, if you say that you want to save Rp 1M a month for a child’s education fund for 10 years, but you do not have a child…then it’s irrelevant. The goal must be meaningful and rewarding for you. </p> <p><strong>Timely</strong> – You set a timeframe for the goal. For example I have Rp 20M of emergency fund by 31st December 2013. </p> <p>Transform your wishes into goals and start taking action today! </p> <p>If you do not mind sharing your goals with us, please share them in the comments! You will be more motivated when you make a public commitment!</p> <p>Learn and Grow!</p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-74258865122022800472013-04-09T11:11:00.001+07:002013-04-09T11:12:27.650+07:00Be Prepared for ‘YES’<p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixpZx2gW5O8-Pv6VsY_cKg36Y6D7ptUD4T2U1xhlqkhvQ7rt2lAWpHTNtoz45ywtWPRakmXoc6h40BDszf9rBZ5dvesnjn7dtXhW_e5c0fiaBJpUXa1r6ftMHQdK4YcVzIxSfaAg/s1600-h/nc%252520be%252520prepared%25255B5%25255D.jpg"><img title="nc be prepared" style="border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px" border="0" alt="nc be prepared" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXFIa8VWJxRuJeqlV7OibRS8OlOVKgPBUMZUBjoXqvuKG-akcmbr9L5oaVhkufyBrNO0l0huCIQ3mYEA5s2SAjRChv6PNVDc6dvfbiDJyG5dKioDhy1HMyFUI5K6tA20qLudPpMQ/?imgmax=800" width="364" height="499"></a></p> <p>When we have lived as frugally as possible, yet the income is still not enough to have a decent lifestyle, then we need to consider increasing our income. One of the ways to increase our income is to sell or to offer our services. Perhaps some of us join network marketing, real estate agency or insurance industry to supplement our income. Although the potential rewards from these industries are high, not many people can stand the work. Trust me…it is not as easy as they say in their business opportunity meetings! </p> <p>When we are selling or offering our services, we are often met with many objections, rejections until we only expect people to say ‘no’. Sometimes we feel so afraid to make another phone call because we can’t stand to hear another ‘no’. If this happens to you, remember this:</p> <blockquote> <p>No matter how good your product or service is, there are people who will not buy it; No matter how bad your product or service is, there are people who will buy it.</p></blockquote> <p>That’s why when we are moving from one rejection to another, from one objection to another; remember that those rejections and objections will only bring us closer to those people who will buy from us. The no's are stepping stones instead of obstacles in our way to success. Celebrate and learn from the no’s and always be prepared for someone to say ‘YES’! </p> <p>Wish you all the best in increasing your income! </p> <p>Learn and Grow</p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-27819255187331495352013-04-08T10:15:00.001+07:002013-04-08T10:15:04.618+07:00Tips to Put Money into Savings Account<p><a href="http://www.gocomics.com/ziggy/2013/01/23"><img title="ziggy money spend me" style="border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px" border="0" alt="ziggy money spend me" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsms-79UYy27ODiMDlbA0kFnZCpeoc4xj0Cbp-ik3pDReJqAwuUi-QK5ZYJtX755avunAd9UZ9Vcsav42JLq5ZxT-FwuMnAUTl2LS6BpYOfnQtgQLRBP9vhgHfl-roHK7Tp0sG7A/?imgmax=800" width="240" height="234"></a></p> <p>I know some people find it difficult to save money. It’s not because they do not have enough income, but because of their spending habit. When they have money, they just feel like spending them all. </p> <p>There are many reasons why they do it. For some people, it is because of some traumatic events in the past, upbringing or due to friends’ influence. For some, it is because of their personality type. Certain type of personality such as Influence or Sanguine tends to seek pleasure and want to enjoy things now. They tend to be unorganized and won’t be bothered to track their expenses. (If you want to know more about how personality type can influence your finance, you can attend our seminar “<a href="http://saltcentre.blogspot.com/2013/04/info-seminar.html">Mastering Your Personality for Financial Freedom</a>”) </p> <p>These are some tips to help you put money into savings</p> <ol> <li>Auto-debit – automatically transfer some money to a separate account straight after you receive your income or salary <li>Pension scheme provided by the company – some of the salary is automatically put into your retirement account and you can only access the account at certain age <li>At the end of the day, take one piece of third biggest denomination of money from your wallet and put it in a jar. At the end of the week or month, deposit that money into your savings account. For example, if there are a few 100K, 50K, 20K and 10K in your wallet, take one piece of 20K (third biggest denomination) and put it away. If you do this for a month, you may get around 500K that you can put in the savings account. <li>When you get some change after paying for something, put the change into a separate wallet and save them. Don’t forget the coins because they can add up. For example, when you pay for 36K lunch using 50K denomination, put away the 14K and save them. </li></ol> <p>I hope these practical tips can help you put more money into your savings account. Start today! Put into practice and see you much you have saved by the end of the month. </p> <p>If you have other tips to share, please do so in the comments. </p> <p>Learn and Grow</p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-51292470551778125232013-04-03T16:18:00.001+07:002013-04-03T16:18:55.659+07:00Envelopes for Financial Management<p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1SQg1xeJdOd74EyPFNuOAuUARQQy0SbEy_G5XZh1qaa0KALkZW_dSYhQuoClKQ6Nc_qrLdz_6p8BhMsgLH8w7u8mPnx0epg5kw4FffkQltAi0FNJNmwlMx-xWBLe3eZjcK6eRTA/s1600-h/2%25255B9%25255D.jpg"><img title="2" style="border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px" border="0" alt="2" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjG7KMEsHZD9SbI9mqsPXwzh0knxkAnZk_4kEos20VapYAy2waA_M1H1a4FV3BITiC4T0T_Gql7pCE2mWcbtri9CYTDhK7MxoCTlms3T9QujXXLvKkNI0I4UMec6TWvR1M4K3QhRA/?imgmax=800" width="480" height="274"></a></p> <p><font size="1">Envelopes made by Anna and Anis. Thank you.</font></p> <p>Instead of bringing your wallet full of credit card when you go shopping and you end up spending more than your budget, you can bring something like the picture above. It is made of 6 envelopes bounded together. </p> <p>At the beginning of the week, you can allocate money for:</p> <ol> <li>Grocery shopping <li>Transport (petrol, tickets) <li>Dining out <li>Bill payment due that week (utilities, school fee, etc.) <li>Fun or entertainment (movie, book, magazine) <li>Emergency fund </li></ol> <p>Put the budgeted money into each envelope. </p> <p>Whenever you buy something or pay something, use the money from the appropriate envelope and put the receipt into that envelope. Basically you exchange the money with receipt. </p> <p>When there is no more money inside the envelope, it is a sign to stop shopping. Remember…no cheating! Do not move money from one envelope to another. </p> <p>At the end of the week, </p> <ul> <li>You can use the receipts to record your expenses for the week <li>Any money left in the envelope, you can either save them (recommended) or you can use it for the following week </li></ul> <p>It is a simple and practical way to manage your finance. </p> <p>If you use similar methods, please share in the comments.</p> <p>Learn and Grow!</p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-5958982729834146502013-04-02T08:00:00.000+07:002013-04-02T08:00:04.910+07:00Info Seminar<p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjuNdPNyk5-TxJwAAKHqET7D4RthtqXZMv9W_f8z5JhatMriivdjtyj_-7M0KLFq-8mmCLA-BSgEz42oDePrGktyeMUrVWRdWpnIzxKsyRAPek9N1a6l6SB9HOGYKiHcBZfAJTPXA/s1600-h/DISC%252520MONEY%2525202%25255B7%25255D.jpg"><img title="DISC MONEY 2" style="border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px" border="0" alt="DISC MONEY 2" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQDaHjugjEQcB3HhdQ-nSZX4QzTKh02-PRBv6xN3Js8dLatsWG_H07LFd7cjH8T8W3ZTnH1kjQjr-mOlzNmfu0Vpgi5t1rTH0Rdhbfx-hnI-2OmEiMueKPyptlEzkv-QmFO4SJlQ/?imgmax=800" width="430" height="606"></a></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-26026433387179552172013-04-01T16:03:00.001+07:002013-04-01T16:03:13.478+07:00Demystifying Get Rich Quickly Tip No 1 – Marry Someone Rich<p>I often heard that one of the ways to get rich quickly is to marry someone rich. I saw this story posted on Facebook and I would like to share it here. I don’t think this is a real story, but we can always learn from it. </p> <h3><a href="http://inspirationalstories.quora.com/A-reply-from-CEO-of-J-P-Morgan-to-a-pretty-girl-seeking-a-rich-husband?ref=fb" target="_blank">A reply from CEO of J.P. Morgan to a pretty girl seeking a rich husband</a></h3> <p><font color="#333333">A young and pretty lady posted this on a popular forum:</font> </p> <p><br>Title: What should I do to marry a rich guy? <br>I'm going to be honest of what I'm going to say here. I'm 25 this year. I'm very pretty, have style and good taste. I wish to marry a guy with $500k annual salary or above. <br>You might say that I'm greedy, but an annual salary of $1M is considered only as middle class in New York. My requirement is not high. Is there anyone in this forum who has an income of $500k annual salary? Are you all married? </p> <p><br>I wanted to ask: what should I do to marry rich person like you? <br>Among those I've dated, the richest is $250k annual income, and it seems that this is my upper limit. If someone is going to move into high cost residential area on the west of New York City Garden(?), $250k annual income is not enough. </p> <p><br>I want to ask a few questions: <br>1) Where do most rich bachelors hang out? (Please list down the names and addresses of bars, restaurant, gym) <br>2) Which age group should I target? <br>3) Why most wives of the riches are only average-looking? I've met a few girls who don't have looks and are not interesting, but they are able to marry rich guys. <br>4) How do you decide who can be your wife, and who can only be your girlfriend? (my target now is to get married) <br>Ms. Pretty </p> <p><br><font color="#9e7c7c"><font color="#666666">A philosophical reply from CEO of J.P. Morgan</font>:</font> <br></p> <p>Dear Ms. Pretty, <br>I have read your post with great interest. Guess there are lots of girls out there who have similar questions like yours. Please allow me to analyze your situation as a professional investor. </p> <p><br>My annual income is more than $500k, which meets your requirement, so I hope everyone believes that I'm not wasting time here. From the standpoint of a business person, it is a bad decision to marry you. The answer is very simple, so let me explain. </p> <p><br>Put the details aside, what you're trying to do is exchanging "beauty" with "money" : Person A provides beauty, and Person B pays for it, fair and square. However, there's a deadly problem here, your beauty will fade, but my money will not be gone without any good reason. The fact is, my income might increase from year to year, but you can't be prettier year after year. Hence from the viewpoint of economics, I am an appreciating asset, and you are a depreciating asset. It's not just normal depreciation, but exponential depreciation. If that is your only asset, your value will be much worse 10 years later. </p> <p><br>By the terms we use in Wall Street, every trading has a position, dating with you is also a "trading position". If the trade value dropped we will sell it and it is not a good idea to keep it for long term - same goes with the marriage that you wanted. It might be cruel to say this, but in order to make a wiser decision any assets with great depreciation value will be sold or "leased". </p> <p><br>Anyone with over $500k annual income is not a fool; we would only date you, but will not marry you. I would advice that you forget looking for any clues to marry a rich guy. And by the way, you could make yourself to become a rich person with $500k annual income.This has better chance than finding a rich fool. <br>Hope this reply helps. <br>signed, <br>J.P. Morgan CEO</p> <p>I agree that it is easier and better to make yourself rich by learning and practicing good money management rather than finding a rich fool to marry. </p> <p>What can you learn from this story? Please share in the comments.</p> <p>Learn and Grow!</p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-15691772672495204952013-03-30T11:41:00.001+07:002013-03-30T11:41:48.220+07:00Don’t Rely on Numbers to Determine Your Happiness<p><a href="http://lh5.ggpht.com/-wv-MXk2Tu30/UVZtB-u7jfI/AAAAAAAABHI/oHyYAlHFtD4/s1600-h/sage%252520of%252520happiness%25255B12%25255D.jpg"><img title="sage of happiness" style="border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px" border="0" alt="sage of happiness" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiC1AmNG-seLEZ7mAXQtWTSCPdGzSPHLHQJwM60PIG-mUTZms6iwfdaN4GcuFa88899oDL9cNlXGizpXS_8n6EXu3NrCugIuoqrNClLZOKXdTWUPDFVwZHd9qhfmgSokps30xHg-Q/?imgmax=800" width="354" height="354"></a></p> <p>I just read an article at BBC “<a href="http://www.bbc.com/future/story/20130326-why-money-cant-buy-you-happiness/1" target="_blank">Why Money Can’t Buy You Happiness</a>” </p> <p>BBC points to a <a href="http://www.jstor.org/stable/10.1086/374702">study</a> by Christopher Hsee of the Chicago School of Business: </p> <blockquote> <p><font color="#cccccc"><font color="#4f81bd">[P]articipants were offered the option of working at a 6-minute task for a gallon of vanilla ice cream reward, or a 7-minute task for a gallon of pistachio ice cream. Under normal conditions, less than 30% of people chose the 7-minute task, mainly because they liked pistachio ice cream more than vanilla. For happiness scholars, this isn't hard to interpret –those who preferred pistachio ice cream had enough motivation to choose the longer task. But the experiment had a vital extra comparison. Another group of participants were offered the same choice, but with an intervening points system: the choice was between working for 6 minutes to earn 60 points, or 7 minutes to earn 100 points. With 50-99 points, participants were told they could receive a gallon of vanilla ice cream. For 100 points they could receive a gallon of pistachio ice cream. Although the actions and the effects are the same, introducing the points system dramatically affected the choices people made. Now, the majority chose the longer task and earn the 100 points, which they could spend on the pistachio reward—even though the same proportion (about 70%) still said they preferred vanilla</font>.</font></p></blockquote> <p>The participants in the study were focusing on getting the most points although it does not maximize their happiness. </p> <p>How often do we make the same mistake? </p> <ul> <li>We want the highest number of salary possible although it comes from the job that we hate <li>We want the latest and most expensive gadget although using it frustrates us <li>We eat at an expensive restaurant, order the most exquisite cuisine that we do not like at all </li></ul> <p>We often think that the higher the number, the happier we become…well, it does not work that way. So what should we do?</p> <blockquote> <p><font color="#4f81bd">So next time you are buying a lottery ticket because of the amount it is paying out, or choosing wine by looking at the price, or comparing jobs by looking at the salaries, you might do well to remember to think hard about how much the bet, wine, or job will really promote your happiness, rather than simply relying on the numbers to do the comparison. Money doesn't buy you happiness, and part of the reason for that might be that money itself distracts us from what we really enjoy.</font></p></blockquote> <p>If you have the money, use it wisely to promote your happiness. </p> <p>More often, the things that make us happy do not involve money all all, like:</p> <ul> <li>spending time with your friends at home, <li>listening to your music collection, watching DVDs, reading books <li>enjoying the quietness and solitude at home <li>watching endless waves breaking at the beach (I really miss Cottesloe beach, WA) </li></ul> <p>Choose your own happiness! Do not let the numbers dictate you!</p> <p>Learn and Grow! </p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-40912735363257641352013-03-28T16:29:00.001+07:002013-03-28T16:29:47.863+07:00Fun Activities for Long Weekend – Treasure Hunt<p><a href="http://lh3.ggpht.com/-iED0hEErYCA/UVQNiFm6kmI/AAAAAAAABGA/9y2INgu5RUI/s1600-h/cp.193e53b0cc245a60a2b4eebd02fcca45%25255B1%25255D%25255B1%25255D.jpg"><img title="cp.193e53b0cc245a60a2b4eebd02fcca45" style="border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px" border="0" alt="cp.193e53b0cc245a60a2b4eebd02fcca45" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj27jrbDY60K7MmLlYdK-UuQTaaIlybxiuv_vrYmBBGaKdUW2Zurmg_4b5UjcSPtqb9NO6Gc5W9eJfkrmVdGbvn2z98QoX31CUIfhWy9_m9MsDodjqxLv2VqBX2ahTJ7295uy5ieA/?imgmax=800" width="451" height="138"></a></p> <p>Do you still have a piggy bank? I do. I have a money jar to put all the coins that I get during the day. 100, 200 or 500 rupiah coins are coming our way almost everyday, and many of us think that they are just small money and we put or even throw them all over the place. </p> <p>Have you ever counted how much money in form of coins that you have in your house and car right now? Have you every tried going on a treasure hunt in your house and car and just collect all the coins and put them in a jar? You should try it sometime. I knew someone who did it and she was really surprise to find more than Rp 100,000 in form of coins all over her house and cars. </p> <p>Tomorrow is long weekend. If you have children, instead of going to the mall and spend money, why don’t you go on a treasure hunt around the house with your children? It’s free and fun – moreover you may be surprised with the amount of money you find. </p> <p>Wishing you a happy long weekend!</p> <p>Learn and Grow!</p> <p>Inge Santoso, B Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-66940050443633321502013-03-27T07:28:00.000+07:002013-03-27T07:31:48.808+07:00Positive Thinking Can Ruin Your Financial Life<p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgiEwt6gmo9eFn0Hn3g5ueGh4x70DM7OZncKS5jUt7vNK3JmRtnkdiYW9TQvXuvaF2tIZY9QZXXQvHnlVCL9j3y63nXwtm0v5_aAjKnWD3MKT2kK2v5w0GL9bvyedAnmZeBFuytqA/s1600-h/soup%252520positive%252520perception%25255B4%25255D.jpg"><img title="soup positive perception" style="border-top: 0px; border-right: 0px; background-image: none; border-bottom: 0px; padding-top: 0px; padding-left: 0px; border-left: 0px; display: inline; padding-right: 0px" border="0" alt="soup positive perception" src="http://lh5.ggpht.com/-O3YyiyQmMKE/UVI98FmKiCI/AAAAAAAABEw/OWdbxgYACcs/soup%252520positive%252520perception_thumb%25255B2%25255D.jpg?imgmax=800" width="489" height="241"></a></p> <p>We often hear that positive thinking is essential for our happiness. In finance however, positive thinking can also lead us to financial disaster. When does this occur? <p>Some examples: <p>1. Instead of starting to prepare for your children's education fund, you tell yourself to have faith that when the time comes, you will have enough money to pay for it without ruining other financial needs. <p>2. Instead of starting to prepare your retirement fund, you rely on your employer to prepare it for you. You think positively that they will keep you forever and provide for you. <p>3. Instead of starting to learn how to invest your money well, you just think positively that the market is just going to go up and up, doubling your money every few years. <p>In finance and perhaps even in general life, it is better to have realistic thinking than positive thinking. Realistic thinking does not mean negative thinking either. Realistic thinking is understanding that conditions and situations will change all the time. The market may go up or go down. You may change job or even get fired. Your business may hit rough patches. There are inherent uncertainties in life. <p>What can we do? <strong>Be prepared!</strong> <ul> <li>Make sure that you have enough emergency fund <li>Make sure that you have enough insurance to cover for death, sickness or any other eventualities <li>Make sure you prepare funds for your children's education need as early as possible <li>Make sure you start saving and investing for your retirement fund <li>Make sure you learn new skills to keep you relevant in your company <li>Make sure to maintain and expand your network</li></ul> <p>Be realistic to changes in life. <p>Keep learning! Keep growing! <p>Inge Santoso, B Com, CFP<sup>®</sup> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0tag:blogger.com,1999:blog-7122875.post-8576142659339282742013-03-23T07:36:00.000+07:002013-03-27T07:44:33.275+07:00In Remembrance of My Grandfather<p><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh86xJGU5k9W22WXpvnzPtG_TXrJThtGwhsuulHT8s4cB8O1m__R4a7pLJVhyphenhyphenT6Q1vXCDI7T-4NYta3jZ7ZmYSLoAz-8V5dTQqfHFBXPryxP9aT6UAeJwLEN2MzvC_zrbh5MjnYdw/s1600-h/Grandpa-88-cake4.jpg"><img title="Grandpa 88 cake" style="border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px" border="0" alt="Grandpa 88 cake" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3MsGe5ypRQM0yozPIdDxLHeUrFhI6BjPuxvskCqVcrXt6sCQf3liSMgUJK4mRVdL5tAwaJ9cszKq8Qb3y545r4KRVSS0pBu4nKEh-N6x42RHPVaBUiHbDsYc4azi6IwfGS3AUrA/?imgmax=800" width="180" height="240"></a></p> <p>A photo of my grandfather on his 88th birthday. He passed away because of old age, exactly two years ago at 90 years old.</p> <p>My grandfather was a frugal man and very money savvy. Even in his old age, he was still going from bank to bank looking for the best interest rate for his retirement saving account. Most of the customer service people in the banks knew and welcomed him whenever he came to the banks. </p> <p>He was also very organized and he kept good records of his money. He always knew how much money he had in each bank account and the interest he was getting on that account. His financial profile was very conservative because of his age. He only put money in term deposit and saving accounts. </p> <p>He was also very healthy and he almost never had any medical cost. He had lived a very healthy lifestyle, eating healthy food, doing regular exercise, having enough sleep and rest. </p> <p>Although he had other shortcomings, but when it comes to finances – we can always learn from him. </p> <ol> <li>be frugal <li>keep good records <li>make your money work hard for you <li>as you get older, be more conservative with your investment <li>have a healthy lifestyle – less medical and care cost </li></ol> <p>Learn and Grow</p> <p>Inge Santoso, B. Com, CFP<sup>®</sup></p> Anonymoushttp://www.blogger.com/profile/16751161318512430186noreply@blogger.com0