Monday, May 29, 2006

Just about Money

I've learned a lot about money in the past 4 months. I'm trying to figure it all out... what works, what doesn't work, how to save, how to work the system, etc... Its all very mental, and I know that what works for me won't work for everyone, but I'll go through my system. I'll put my bank on blast. I've had good and bad experiences. I use Bank of America... and my money is managed through online banking. I never use checks because not only do you rarely have to anymore, there is no telling when that money will leave your account.

I have 4 accounts - 2 checking, 2 saving, and a credit card.

I do everyday purchases with checking #1
Direct Deposit goes into checking #2
I pay all bills from checking #2 and give myself spending money when the direct deposit comes in. I pay myself by transferring funds to checking #1. I only carry my debit card for checking #1... so if I feel like spending more than I allocated, its impossible.
Savings #1 is short term savings and is usually empty. When I want some electronics, or something for my car, I throw some money in there until I have enough. It prevents impulse buying which is the ENEMY.
Savings #2 is long term savings. I put money in there whenever I can and the rule is simple... it can't be touched. Emergencies are the only exception, but the credit card is there for that as well.

No one needs 4 accounts, but like I said its all mental. If I had one savings account, I would save and ultimately buy electronics out of that account... then I would feel I could spend that money whenever, as opposed to the simple rule I have for that long term savings account. As for checking... I make sure the bills are paid first, then put money in savings, then pay myself. If there was one big checking pot... its easy to get carried away and before you know it, how are you going to pay the car note?

About credit cards. They are not bad if you know the rules. Luckily my parents made sure I knew the rules. If you don't know, carrying a balance doesn't affect your credit... your credit is defined by how responsible you are with your balance. This means as long as you always pay at least the minimum every month, your credit doesn't suffer, it actually builds. The way this society works, most of the things people have and are able to do is a result of spending money they don't have - that includes buying a car, home, or education. So that's why credit is so important. I am still building mine... but once credit is built, there are some nice things you can do to make it work in your favor.

Now this is a learning experience... so if any readers see any flaws, please let me know. My plan is to pay for as much as possible with my credit card. This is for 2 reasons. First and foremost, credit card money is the bank's money... not yours. Therefore if there are any disputes, its their responsiblility to dispute it, and you can sleep without worry. Granted, there may be a question of you owing the money, but at least there isn't a big hole in your checking account during the dispute. Along with this, I've noticed that some merchants take forever to complete transactions, so my checking account shows one balance tuesday night... I go and spend accordingly, and then $50 worth of purchases go through the next day... in some cases those purchases are 3-4 days old. The lesson learned of course is that you have to pay very close attention to your balance and not rely on the numbers the bank shows, but I'd rather not worry and instead have it all go through the credit card. Besides, I figure if they are the bank, they should have an accurate number for me, and they just don't. Maybe they will if I use their money instead.

The advantage to this, is that YOU pay 1 person per month - your credit card company. And if done responsibly, you'll be paying the full balance on your card every month - which means that you will not incur finance charges. The added advantage to this is that you can get a credit card with rewards such as frequent flyer miles or financial rewards. That way the spending you do anyway can benefit you. I like the idea of only paying 1 person every month, even if it is most of my paycheck. It really doesn't make too much of a difference, but spending the bank's money just seems safer to me.

As far as other lines of credit, well, your credit score takes a hit every time you open a new line of credit. So as tempting as it is to get a Best Buy card and a 10% discount on that day's purchases, my opinon is that if you are going to pay for something on credit anyway, you might as well use the card you already have. The discount they give you is not worth the hit your credit score will take.

Another lesson learned, and something to look out for... years ago I was taking care of NSBE purchases for my chapter with my debit card. This was before we had a system in place with the school. Well, I monitor my account well, but when you have more money in there then you expect, it usually doesn't set off an alarm in your mind. That's what happened to me. I saw more money than I expected, and I didn't know why, but I took that to be my balance, and I spent accordingly. This is what REALLY happened.

I paid upwards of $200 to NSBE for registrations. The money left my account and went into what the bank calls a holding area. The way it works is that NSBE has up to 3 days to claim the money that is set aside for them in the holding area. IF NSBE does not claim the money in that time, the money is put back into your account. NSBE HAS UP TO 1 YEAR TO CLAIM THE MONEY. I'm using NSBE as the example, but this holds true for any merchant. So 3 days later, I see more money in my account. I have no idea why, but I figure its right. I get down to $50 in my account, then NSBE takes all their money. I'm there on the phone with the bank trying to figure out what happened, and that's how I learned how this process works. These are things they do not tell their customers. Believe me, they make a lot of money from those overdraft fees.

Last thing I learned around the same time... hotels and restaurants like to take or "reserve" more money in a transaction then you actually owe them, to account for possible incidentals or tip. This is not the case for credit cards because it is not your money. But paying for a hotel on debit, don't be surprised if a $400 bill removes $450 from your account. That's obviously bad if you only have $425 in the account. You get the money back... but no one is going to reimburse that overdraft fee.

Unfortunately I have a few other stories... but they all have the same solution. Use your credit card for all purchases and pay it every month.

If anyone else has other learning experiences or methods, please share them. I think this information needs to be out in the open. I only share learnings with my parents, and I figure I can at least help stop others from learning things the hard way... but its hard when no one talks about this stuff.

~JL

Saturday, May 27, 2006

Just in the Family

My brother has wanted a dog for as long as I can remember. My parents always said no. The main reason was that when he goes to college, he wouldn't be at home to take care of it. Well, this year, we know what school he is going to, and it turns out he will be living at home. A few weeks later he realized that the main reason he could not get a dog is no longer an issue. So I guess my parents no longer had any reason to deny him... and on occasion they take care of a family friend's dog, so they are somewhat used to having one in the house.

I said to my brother, "I thought you were saving up for a car. You can't ride a dog to school." He replied, "Not yet."

Yesterday, Deuce became a new member of the family. He is a lab and only 6 weeks old. I'm sure my brother couldn't be happier. They sent me some pictures. Enjoy.



Tuesday, May 23, 2006

Just on IM

New screen name. Use the old one to find the new one. Or look carefully...

~JL

Monday, May 22, 2006

JusTV

Well, now that all the major tv is done for the season, I can focus on more important things, and my new favorite channel. I love BET J. I don't know what the J stands for. I thought Jams at first but that's what MTV uses. Then I thought Jazz, but that doesn't say anything about the soul, and caribbean music they also play. Clearly, the J must be for Justin.

The logo is also very well done. I'd say its "Cooper-esque" but I'm not an artist. But as far as logos go (sounds funny), the more subtle the image the better... just like the arrow in the FedEx logo, it took a day or two for me to notice the music note in the BET J symbol. It was a great idea.

As of tonight I updated my DVR series recordings and realized that I watch way too much TV, and nothing too beneficial. Of course that's easy to say now that most of the seasons are over. I will mainly be recording Charlie Rose.

I might give in to the facebook work network thing. BUT then I won't have a link to this blog in my profile, so update your bookmarks. Its either one or the other. I don't like the idea of my boss and/or co-workers reading this, even if I always leave specifics out.

Also, I am updating my screen name, as soon as I figure out a new one.

~JL

PS: Jack Bauer is screwed

Friday, May 19, 2006

Just a Nominee

Corinne Bailey Rae was announced today as a nominee for the BET J "Cool Like That" award to be presented at this year's BET Awards. Funny enough, I accidentally found that channel, and just in time to hear the news.

~JL

Thursday, May 18, 2006

Just Introduction

I received some sage advice from an engineer at work today... as far as career development goes. We were on the subject of things to do to make yourself stand out with co-workers so that you can become the go to person. Some people don't want that, but the way I look at it is, its all about experience. The more you're involved with, the busier you are, and the more transferrable skills you can acquire... as long as you enjoy the projects you are working on. He prefaced with a disclaimer which basically meant think about this, don't necessarily do it, but he went into a story about a co-worker he once had that was always very respectful of his superiors yet VERY opinionated, and was quick to let people know when things were going off track. My friend approached him and said, "Aren't you worried they'll fire you for some of the things you do and say?" He replied, "I go to work everyday as if its going to be my last day." Reason being that only with that mentality will you push the envelope, seize opportunites, and alert people to potential problems without fear of what happens next. It almost forces you to be the worker you should be, but aren't. I thought it was interesting.

On my first day of college, when my parents were "letting go," my dad said, "Look Justin, this is how you meet people." I had no idea what he was talking about but I watched... he walked up to a classmate that I had not yet met, and said, "Do I know you from somewhere?" And that's how it all started. Its not as easy in a club or bar, but in certain situations it works really well. All you need is a little conversation starter like that... you find out what part of the country they are from, and other possible places or organizations they are in where paths may have, but of course never did cross.

Well today, I took a page from that book. It wasn't planned out, but it worked really well. See the "I'm new here" conversation starter is getting old. So, I flipped it, and if I see someone I want to talk to I ask them if they are new here. I know they aren't, its usually someone I've crossed paths with in the building before... but its a great conversation starter, because they reply... "No, I've been here X years. I'm on the Y team. Z is my manager." That's a whole lot better than going up to them and interrogating them with "Who are you and what team are you on."

Well, at least I don't sit at my desk and think of these things. They actually keep me pretty busy. But as I've mentioned before, I sit in a lab with one other person, so I don't get to meet any of the 2000+ people that work in the technology building I would otherwise sit in. So when I do go over there (once or twice a week) I try and talk to as many people as possible.

~JL

Sunday, May 14, 2006

Just Individual

I really like the new India Arie song. It took me a while to actually listen it, even though a friend let me know about it a while back. See, now you all have to let me know about new music, because there is no way for me to find out down here, and I refuse to turn to BET as a source.

The song says a lot though. I'm not a big fan of Akon, but when he said, "I didn't see success until I cut it all off," its a major point that our youth and society does need to see. It makes me wonder if songs like this do have an impact on people besides those like me who know there is a problem with how we are viewed in society. I just like how India is talking about something that doesn't seem to be talked about. My sister has been going through it too, saying she wants a perm. She's young for that, but some people do look at hair to define what they think they know about someone, and as we all know, skin color is an extension of that. I grew my hair since the beginning of college, and right before junior year I cut it all off because I really did think it was stopping me from landing an internship. Whether that was the case or not, I knew it had the potential to stop me from getting one, so I cut it anyway. A good friend of mine confirms the same, but he says that he refuses to cut his off for that reason.

Another good friend rnb wrote a long report once about Egyptians and the "wigs" they wore. A major question in doing his research was, why would people in such a hot climate wear wigs? We are taught it on a daily basis, and we know how amazing a culture they were, but it just doesn't make any sense. Perhaps that was their real hair. Perhaps they were braiding it the same way we continue to braid ours today. Perhaps they were Black. Apparently, it turns out that he was able to at least change one professor's mind about the Egyptians, so as far as I'm concerned, he was successful.

A guess the larger point here is, you define who you are. I'm glad this song is out there. For me it is an example of what music should be. Doesn't always have to have a profound message, or life lesson, it should just be without negativity, because we need to be mindful that impressionable minds are listening. And that which is entertainment for you and me, is seen as reality for those younger. Another good friend brought up the concept of reality recently... and while reality is defined as an absolute, since the definition is for humans, the truth is, reality is an absolute that everyone has a different idea of. Meaning reality is relative. Reality for teenagers is possibly what is said in the songs they hear on a daily basis, or how they act, dress and talk in the music videos. Whereas reality for me and others is paying bills, relationship development, or self-development. Lets give our young people a more realistic reality.

I am not my hair, nor am I "defined" by my skin color. Those may be the frst things you see, and you will develop expectations, but don't define me by your expectations. I look really young (I personally don't think so, but people tell me daily). So I may look like a teenager, or someone in college. Because I work in a lab, I go to work in jeans and a t-shirt. It is easy for someone to look at me and have low expectations. I don't mind, and I don't even mind when I can tell people are viewing or treating me with those low expectations... because I know what the truth is, and the people who matter know who I really am. I think I mentioned this quote a long time ago. I don't know who said it. "Always be true to yourself because the people who mind don't matter, and the people that matter don't mind."

Learn your history
Be true to your culture
Be true to yourself

Most importantly, do not confuse stereotypes with culture. I think that has been happening a lot lately. Someone once said I wasn't black because I don't talk like they do, or the way that person expected me to talk. I won't go into that futher, I'm sure I've talked about it before... I just think that if this idea of individuality is really embraced, then some problems that exist today will fade away. Of course individuality starts with you, but the problem here is how people view you... so it is up to all of us to not judge someone by their appearance, their color, or their hair... as easy as it may be.

~JL

Friday, May 12, 2006

Just an Update

I went on a trip to day to verify a technology installation. It was a lot of fun though. It was a 2 and a half hour drive there, so my co-workers and I had some bonding time. I don't relate to them too much, but they are good people, and for the most part we have a good time. Every now and then they ask me to compare things to New York. They talked about a recent crime that happened in this area, it was pretty bad. So now they have started locking their doors. I told them that locking doors where I'm from is a must. I was raised to do it. I overdo it here. I double lock my door even though most people here leave their front doors wide open. Probably makes me look like a recluse, but I don't want people walking into my house to be social, nor do I want them walking into my house period.

My neighbor, well, exactly who I'd like to keep out. Don't take that wrong, he's a nice guy, but way out of my age range. He just moved down here a few weeks ago, so he just wants someone to talk to I guess, but I'm not the one... only because he abused his privilages already. Sometimes I would come home and make a little schedule for myself which would include the gym, Wal-Mart and dinner to be back home in time to watch 24. My schedules work to about 10 minute accuracy. So I walk out of my apartment and its almost as if he's outside waiting for me, then he just talks about any random thing that comes to mind as I'm trying to walk away. I don't mind talking, but he rambles so long my whole schedule gets messed up. Then if that isn't bad enough, the same thing happens when I get back.

So now, I'm always in a hurry, and I don't like to be that way, but I don't have time to sit and talk on my way out. On the one hand he's being nice and trying to talk, yet he doesn't seem to want to consider that I have things to do, like rush back to work so I'm not late coming back from lunch.

As for my car, its doing alright. Its on my mind because I just had to fill a tiny chip in my windshield. It's already on its second windshield, but I found this crack early enough to fill it before it spreads. I don't think this is the place for nice cars. In retrospect, I would have went a step down, but I do have a lot of fun in it, so I'm still happy with my decision.

The drive from here to Jersey is 24 hours, so I doubt my car will ever see NJ. That's a drive I want to avoid at all costs. I've been meaning to take pictures for friends and fam, not just of the car but Arkansas in gerneral. This area is very surprising because of how quickly development is occuring. But 30 minutes south of here, its really amazing how scenic Arkansas is. I had no idea. It is empty, but its not all farmland like I thought. A camera is on my list of things to get... but when it comes to buying electronics, I go for the best, so I'm 1 saving up the money, and 2 waiting for a camera worth the money. I've learned the impulse buying has to stop, so I'm doing research and price tracking - time to be a smart shopper.

Imagine it in Cool Blue, like the links on the right.

:-) I like cars, maybe a little too much.

~JL

Saturday, May 06, 2006

Justin Sensitive

I went to see Akeelah and the Bee tonight. If I wasn't there with someone, I would have moved to the back row and cried myself through the entire damn movie. Movies like that show me how sensitive I really am... but of course because I was there with someone, I held it all in. I figure this isn't what the ladies want to hear, but that's just how it is. Some want a man that's sensitive, others want a man to be a man. I'm a balance, and maybe it takes a man to be a man in order to admit that he is sensitive. I'm going to get that movie, watch it at home by myself, and cry like there is no tomorrow. I'm just being real.

The movie did a great job at showing the little things that can hold people back, or in this case an 11 year old girl, from doing that which they are exceptionally good at. I won't say anymore... just go and see it. Fellas, call a ladie (its the easy words that are the hardest) and take her out to see it. Doesn't have to be a significant other, or one you'd like to be a significant other, just any friend... its good having someone to talk to about it afterward. But if you're at all like me, you might want to go see it by yourself.

After the movie, my friend and I noticed that spelling was easy way back when, but now don't ask me how to spell "tomorrow" on the spot. The only thing that keeps me spelling carribbean (wrong spelling) right is that the beer is called Carib... (only supposed to be 1 r).

Enough sensitivity for one night.


~JL

Just Watch

My cousin's music video is out. Apparently the album comes out over here on June 20th, not the 6th like I originally said.

http://video.uk.msn.com/v/en-gb/v.htm?g=4cf335e3-fbc3-4144-9d63-5e74bb3325bb&f=34/64&fg=email

~JL

Wednesday, May 03, 2006

Just got Paid

Said wedding I went to recently had an open bar, and we were aptly on Long Island so I had 2. I know that's my limit so I stopped, but that was a good time. Anyway, thinking back to some conversations I had during the wedding, and after my first drink, I spoke to a few friends I haven't seen since early in college. The usual came up, "So what have you been doing?" I replied, "well I relocated to Arkansas." Then the usual response, "ARKANSAS???" Me: "Yup, I work for _______." Them: "Doing what?" Me: "Technology research." To which they replied, "Oh, so basically you're saying you're paid right?"

That last line came up in three different conversations, which make all three the same conversation with different people. It made me wonder. There are no complaints here, I have what I wanted, a job doing what I like and a salary to go with it, but it just didn't seem like the best response to receive. Granted its not specific about money, but should money come up at all? I don't know where I'm going with this. I guess part of me thinks that they think I was telling them where I live and work so that they would know I'm paid... but that's based solely on their response, and I know that isn't the case. If it happened once, I wouldn't have thought about it... but 3 times with different people?

Additionally, these 3 all happened to be women, but I can't analyze any further because I can't begin to imagine why that line kept coming up. Anyway, that's the part of the conversation when the quick thinking and the Long Island kicked in. I responded. "Yup, you could say that, I got you on your drink. What are you having?"

;-) Open Bar.

~JL

Monday, May 01, 2006

Just Radio

Well, I just heard about another shooting outside of Hot 97. I know I'm late, apparently it happened over a week ago, but that's what happens when you're so far away from everything. I'm not upset being far away though, because I feel like my mind is clear from the negative news... but at the same time, it does show that as a people, we still need a lot of help. When I was back home, I listened to the radio while I was driving, and the "urban" stations are getting worse and worse. Everything seems to be about its shock value, and while I was used to it when I lived there, being away 10 weeks made a big difference. I can only imagine what this does to our people.

Am I going too far? Do I talk about this too much? I don't know. I'm tired of the problem getting worse before it gets better, if it ever will get better. Its all entertaining if you're mature enough to know that, but for those who aren't, the things that are said, the way people talk, the situations they talk about, it all seems very real. That's why we have people outside of radio stations with guns... is that a clue as to where part of the problem lies?

~JL