Musings: Quote Wednesdays…
“Fix your eyes on perfection and you make almost everything speed towards it.” – William Ellery Channing
Probably one of my favorite quotes. This is why I say environment is key when pushing towards your goals. Be careful what you take in both aurally and visually – ergo constantly surround yourself with things that are related to and push you towards your ideal lifestyle.
Stay classy 😉
– Rego
Monthly Archives: August 2013
Musings Episode 19: Turning Bills into Leverage….? The Ultimate Cheat Sheet Tip for People with New Credit
A lot of people shun new credit if someone’s in their early to mid 20s. Consider it weird…awkward….odd. As many may know, credit is a big thing in the United States of America. Not so much in the United Kingdom. So when someone wet behind the ears turns 18 – the first thing they (usually) get in the mail are a bunch of credit card offers – that’s how it was when I hit that age.
Though some things did change when Obama came into office and the biggest recession hit in 2008 since The Great Depression.
I remember when I got back to the states a few years ago, and decided to finally get into the loop of credit – but like I said – a LOT had changed then. On the one hand it was great – because it protected the less financially educated people who associated credit with consumerism – on the other hand, for the finance savvy counterparts such as myself, it made things far more difficult.
All sorts of questions were asked and statements made,
“How many lines of credit do you currently have?”
“Have you ever taken out any loans?”
“There’s no credit history of you anywhere.”
“If you don’t have any credit history we’re going to have to secure double (sometimes triple) the amount.”
“Why haven’t you gotten a credit card before?”
Question after question piled in, and after finally believing that I had no desire to really have credit cards, advice and suggestions followed.
“The fastest way to build your credit is to take out a loan…don’t pay it off early – pay it according to the payment plan until the very last installment.”
“Apply for a secure credit card – put your own money on it and borrow from yourself.”
“Get a few consumer cards under your belt – you know, places like Target, Macy’s, etc – spend and then pay the balance.”
The last one really made me laugh…firstly, because I’m not much of a consumer at all (especially not at those stores), and secondly, buying just to buy makes no sense to me. While the media pushes consumerism and teaches society to accumulate – I’ve always been one to take opposite advice – besides, I don’t like clutter.
The funny thing is, though minimal – I actually had credit history – just not in the USA, but instead abroad. So for me it was a little like starting from scratch all over again, except with far more jumps and hoops.
I finally got one decent credit card, from Capital One. Starting out, I mostly used it for gas and the occasional meal, and would pay off the balance weekly. This made my credit history with Capital One soar – not to mention one insanely awkward time where they “blocked” and held one of my payments – on account of me paying the balance down too rapidly – to which they heard the far less calmer, quiet version of Rego.
After that small hiccup, shortly after they offered me a credit line increase.
I kept at this, switching my payment methods to monthly, never with a minimum payment and always in full, until after a while combined with calling up and asking when the statement dates were, I had nearly two months available to pay the balance – interest free. On top of that I was getting free cash from them as well with cash back rewards.
Within 6 months, this doubled my credit score. While this was all fine and dandy, I wanted to accelerate the process even more – and then it hit me. I was gaining leverage of time, with money that was practically mine to use without worry of giving anything back in return – just on time payments. Forget consumerism. If I was getting time, to pay something almost two months later, interest-free, and making a percentage of my cash back – why not take it a step further and pay my monthly bills with it?
Mind you, things such as accommodation and utilities, I still paid off my own separate accounts…but things like telephone, internet, insurance, even business expenses, I could easily pay off of the charge cards – and did.
There were numerous reasons why this worked out to be in my best interest:
- Leverage of time
- Money I could use practically interest free without touching my own, for almost two months (which pretty much is the same thing as leverage of time)
- Cash earned on interest free credit I was using
- Better, more secure methods of paying bills – using a credit company if need arose to dispute a charge was far easier and resolved more quickly than with a debit card
- Ability to build a track record of using lines of credit and keeping them in good standing
Present day, I stick with three solid cards, and try to keep my balances below 33% – which is extraordinarily easy. So really, if people are taught to think of credit less as a consumer opportunity, and more of a business one – there are many ways to win – allowing a person to go after bigger fish, by building credit faster.
I’ll give you guys a good example of an excellent way to build your credit, keep the balances low, and leverage your time on payments made for your monthly bills. If you take 3 cards, and split them into categories – business, mandatory living expenses, and recurring leisure expenses – you can get your mind geared towards clearer, more strategic thinking – and take your way of seeing money to a new level.
So let’s say you used one card for business expenses – i.e. if you have a recurring monthly bill from Blue Host or Host Gator for a website you have – you can put that on the business card. Business trips where you’re buying gas? Business card.
How about mandatory living expenses? I say mandatory, because with the way the world operates today, this could easily apply to internet, telephone, and auto insurance – staple things like that. So you’ve got a recurring charge that comes out every month for auto insurance – then you put it on the living expenses card.
Pretty good at managing money but still can’t let go of that Pandora One or PlayStation Plus subscription? Go weak in the knees for Netflix? Alright – that’s fine, I’ve got a weakness for Pandora One too – so put it on the leisure expense card.
It’s all very simple. If you can start looking at credit lines and charge cards this way – you can have a great time all around – and literally be laughing all the way to the bank. Because paying a credit card bill won’t seem like a task anymore – but an advantage.
I’m seeing green.
Just remember these 4 key things:
- Always pay ON TIME
- Always pay IN FULL
- Always keep spending CATEGORIZED and SEPARATE
- Always keep the balance UNDER 33%
I know the last one may be hard starting out, especially if you’re given a very low line of credit, but keep at it and you’ll see that quickly change.
Stay savvy 😉
– Rego
Musings Episode 19: Turning Bills into Leverage….? The Ultimate Cheat Sheet Tip for People with New Credit is a post from and appeared first on Rego’s Life
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- What Really Influences Your Credit Score? (metrobrokers.com)
For The Weekenders: Dancing in Hong Kong, Vacations in Cuba, Helicopter Volcano Diving in Siberia
….So I go to write my Episodic Musings for this Monday and realize somehow I set this post to private *facepalm*…sorry guys. I kicked off this one with a longer than usual intro place – but it’s well worth the read. Enjoy.
Last weekend at my friend’s birthday bash, I danced my ass off…and it got me thinking about my days in Asia – so I thought to myself, “what’s an ace place for a drink and shuffle?” – this is where Socialito came to mind.
As you all know by now I’m alllll about aesthetics – and this place tops the charts.
So picture the setting – you’ve gotten the travel bug itch and find yourself in Hong Kong – Wyndham Street in Central, to be more specific. After taking a walk around town, while both practicing and successfully putting into good work your study of Cantonese, you now find yourself walking with a good group of people you’ve managed to befriend at a bar in passing – along with a certain someone who’s caught your attention in more ways than one. (*wink*). You’re all wondering where to head to next – and suddenly you see it – Socialito, in all it’s magnificent glory with a queue to prove it’s reputation.
Finally making it through the queue you step inside to a world of awesomeness – great food, numerous people enjoying themselves, and enough alcohol to go around an entire country. Looking over the menu, you and your group decide to sober up a bit before the next round of drinks – and order up scintillating dishes such as house made Chorizo Quesadillas and BBQ Wings – not a fan of poultry or red meat? That’s okay…they also have cod fritters.
Then you realize – with all that food, you’ve gotta have a chaser. Something smooth, but not too smooth – it has to have a kick, memorable enough to recall every time you pour a cold one from your own cocktail shaker back home. So you browse the drink menu, and come across the Mexican Campfire – no explanation needed. I’m a fan of drinks such as these myself – and like a friend of mine once asked in uni – “do you ever buy any drinks that aren’t on fire?” – the only response worth giving, is a smile and wink.
Don’t be fooled – from the front entrance Socialito may look like just a normal restaurant – but shuffle through the kitchen and you’ll discover a dance floor and DJ booth worthy of only the best, such as DJ Ruckus. Walk up to the bar and order a round of shots for your newly found acquaintances and your date for the night, as you casually say “it’s alright guys, this round’s one me.”
Make your way over to the dance floor, feel the beat of the bass from the bottom’s of your feet to the top of your head, and dive into the night – like any good venue, group dancing is acceptable and expected. So go ahead – shake a leg – you deserve it.
Had enough dancing and ready to just lounge around in the sun, but with a bit of class? Well, there’s a fix for that….and believe it or not, it can happen in Cuba. That’s right my friend, Cuba. So for all you Americans, you can once again, thank the guys at Abercrombie & Kent for making it happen. How do they do it? Well, “on the record”, it’ll be like you’re going on a foreign exchange program.
You catch a flight from Miami, and arrive at Santa Clara Airport in Cuba. From there, you meet up with your tour guide – and I know, as anti-tour guide as I am, believe me it’s worth it this time – and take a scenic drive to Caibarién – a refreshing fishing village where the locals explain their daily routine.
You keep going until you check into your hotel, and prepare for the next 8-9 days – which will be involving fishing, taking in the fine arts, cigars, and numerous other things that’ll give you an excuse to bring three SD cards for your Digital SLR. You’ll engage in conversations with local fisherman, revealing how the industry has an impact on the community…which’ll be followed by a visit to the Sugar Museum, housed in the historically important Marcelo Salado Azucarera (sugar mill), that will educate you along similar lines.
After the history lesson your brain will probably be frying with the tremendous intake of info, so you’ll stop at El Curujey for an authentic Cuban farm lunch to refuel, before you head to Remedios for a spot of baseball with the locals at their local stadium. After all that food, resting for 90 minutes prior to jumping into the game is advised – stretching too.
Off the record you’ll be practicing your Spanish and befriending the locals with good food, good music, and better drinks. This doesn’t mean you can ditch the 10 day tour – no, Abercrombie & Kent went through great lengths for their clients to enjoy their stay in Cuba, so going through the ropes of the educational experience in mandatory – and advisable. Remember – the only real way you get to enjoy and come to know a country is by learning about both its history an culture, simultaneously. Do that, and the experience will be more memorable and closer to home than just going there to party your ass off. 😉
So push aside the hangover from the night prior, fast forward to Day 8 and push on with the tour as you take in the sights and smells of a botanical farm while talking to the owners who discuss their continuous efforts to educate today’s kids about organic farming. After all – who wants their kids growing up thinking that all groceries just come from the grocery store (W.T.F.). After, meet back at your hotel with a local physician as he gives you the 411 on Cuba’s public health care session followed by a Q&A. From there, take a load off and relax by the pool – you won’t wanna miss it.
Now that the hangover’s fully cleared and you’ve relaxed with a swim sesh and detox at the gym, it’s time to press on to Day 9 – you’ll check out the “yank tank,” while driving it to historic Hotel Nacional, a national monument built in 1930 and overlooking the Malecon (seaside promenade) and Havana Harbor.
From here, you’ll be enjoying a Buena Vista Social Club-style music and a traditional dance performance, sponsored by the Cuban Institute of Music. After the show you’ll want to (and will be encouraged to) talk with the musicians, getting into deep conversation with them and unearthing what makes them “tick,” and what first got them into music in the first place. Take notes and numbers, learn plenty and befriend many – because Day 10 it’s back to the airport.
So you’ve touched down in Miami International Airport…but your travel bug hasn’t been satisfied just yet. “Well damn,” you think to yourself…”where to next?” Then it hits you – Siberia. Yes…after all that lounging, you want something adventurous, something rugged, something new – as if these past three weeks haven’t been new already. Well, get your steel toe boots ready, because it’s next stop: Petropavlovsk-Kamchatsky Airport.
We’re not talking about visiting the hellishly cold Siberia you’ve seen in films and photos, naa…I wouldn’t be that cruel to you guys. Instead, we’re merely talking about volcanoes….and helicopters…maybe some whales – and a couple bears. Okay I lied – a few bears. Wait though – before you say “no thanks” and start off on your transfer flight to wherever, hear me out: helicopters – diving into volcanoes –
Did I mention they’re live volcanoes?
with helicopters.
Before all this though, it’d be a good idea to get acquainted with your sleeping quarters – aka lair, if you wanna get fancy and feel a little like you’re in a Bond film. With accommodation where the sun rises up from the Pacific Ocean and greets the summits of smoking volcanoes – you can’t go wrong. Surrounded by epic landscape, we’re talking the epitome of luxury meshed with the ruggedness of the wilderness. They understand that a city slicker like you may be a little soft though – which is why they offer soothing spa treatments with the healing thermal waters of Kamchatka to compliment that insanely sick room of yours.
But enough pampered talk and back to the main subject at hand – volcanoes. Once you’ve seen enough fiery acid spewing at hundreds of feet, you’ll take a 6×6 (yes, not 4×4) tour of a second volcano – and then climb it….all that leg work and sitting on the edge of your seat is bound to work up an appetite – and the guys at 56th parallel have taken that into consideration. So you’ll be provided with a private chef who’ll be joining you on your fishing voyage – and then cooking said fishing voyage bounty right in front of you. Don’t feel bad – it’s not Nemo – just halibut.
No fresh meal is Siberia is complete without quality vodka – it’s Russia – you’re allowed to be a little cliché.
Just be sure to be sober enough to head into the wild with an armed-ranger, who’ll be teaching you to sneak up ninja style on near 1 ton bears and watch as they feast endlessly on salmon at and near Kurilskoye Lake. Having lox and bagels for breakfast is ill-advised and breath mints are encouraged.
A little adventure is always a good way of staying young. 😉
– Rego
For The Weekenders: Dancing in Hong Kong, Vacations in Cuba, Helicopter Volcano Diving in Siberia is a post from and appeared first on Rego’s Life
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