Proverbs 1: 7 - The fear of the Lord is the beginning of knowledge; but fools despise wisdom and instruction.
Discussion:
Ref: Life Application Study Bible
One of the most annoying types of people is a know-it all, a person who has a dogmatic opinion about everything and who is closed to anything new. Solomon calls this kind of person a fool. Don't be a know-it all. Instead, be open to the advice of others, especially those who know you well and can give valuable insight and counsel. Learn how to learn from others. Remember, only God knows it all.
In this age of information, knowledge is plentiful, but wisdom is scarce. Wisdom means far more than simply knowing a lot. It is a basic attitude that affects every aspect of life. The first step to wisdom is to "fear the Lord", to honor and respect God, to live in awe of His power. Faith in God should be the foundation for your understanding of the world, your attitudes and your actions. Trust in God and he will make you truly wise.
Visitors, please feel free to provide your comments and experiences that relate to this thought.
Wednesday, November 21, 2007
Wednesday, November 14, 2007
Daily Devotion
From today, I plan to start a series on daily devotion from the Bible. I plan to provide a verse and give a detailed explanation - my own thoughts and thoughts of erudite Bible scholars.
Monday, October 22, 2007
Investing in mutual funds
As far as possible, try to invest in index funds because:
1. Fund managers try very hard to beat the index they are tracking, and very few fund managers manage to beat the index.
2. Expenses in index funds are much lower, effectively increasing your returns.
3. Taxes in index funds are lower due to less frequent selling.
1. Fund managers try very hard to beat the index they are tracking, and very few fund managers manage to beat the index.
2. Expenses in index funds are much lower, effectively increasing your returns.
3. Taxes in index funds are lower due to less frequent selling.
Balance Transfer Offers
Be careful about 0% balance transfer offer from credit card companies for the following reasons:
1. Usually, there's a 3% fee; hence, if the offer is for a year, you are paying 3%.
2. If the offer is for less than a year, you are effectively paying more than 3%.
3. Companies apply your monthly payments to the lower interest balance first. So, never do a transfer if you use it for purchases that always have a higher rate. You will only end up paying an obnoxiously high interest rate unless you pay all your balances in full, including your balance transfer, effectively nullyfing the reason for doing the balance transfer in the first place.![]()
1. Usually, there's a 3% fee; hence, if the offer is for a year, you are paying 3%.
2. If the offer is for less than a year, you are effectively paying more than 3%.
3. Companies apply your monthly payments to the lower interest balance first. So, never do a transfer if you use it for purchases that always have a higher rate. You will only end up paying an obnoxiously high interest rate unless you pay all your balances in full, including your balance transfer, effectively nullyfing the reason for doing the balance transfer in the first place.
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