Comments for smartconsumerbanking.com http://smartconsumerbanking.com Consumer Guide on Banking & Financial Products , and tips on love, money and happiness For Fellow Malaysian Thu, 24 Jul 2008 05:29:20 +0000 http://wordpress.org/?v=2.2 Comment on Do Not Fall Flat on Personal Loan’s Flat Rate (Part II) by YH http://smartconsumerbanking.com/2007/07/25/do-not-fall-flat-on-personal-loans-flat-rate-part-ii/#comment-402 YH Wed, 09 Jul 2008 16:30:43 +0000 http://smartconsumerbanking.com/2007/07/25/do-not-fall-flat-on-personal-loans-flat-rate-part-ii/#comment-402 Karen. Don't get to bogged down by the term used. Simply put it, EIR reflects the true/actual cost of borrowing taking into consideration the outstanding balance and time period. The flat rate is a fixed rate and remained the same eventhought the loan principle has been reduced. Flat rate can be converted to EIR so that one knows the true cost of borrowing. They are 2 different expression and carries different amount of information (EIR gives you a complete info) When comparing loans, you must be comparing apple to apple. In the case of PL vs credit card, you can either compare them in flat rate of EIR to see which one is the lowest. Karen. Don’t get to bogged down by the term used. Simply put it, EIR reflects the true/actual cost of borrowing taking into consideration the outstanding balance and time period. The flat rate is a fixed rate and remained the same eventhought the loan principle has been reduced.

Flat rate can be converted to EIR so that one knows the true cost of borrowing. They are 2 different expression and carries different amount of information (EIR gives you a complete info)

When comparing loans, you must be comparing apple to apple. In the case of PL vs credit card, you can either compare them in flat rate of EIR to see which one is the lowest.

]]> Comment on Imagining Financial Freedom by YH http://smartconsumerbanking.com/2008/06/22/imagining-financial-freedom/#comment-401 YH Wed, 09 Jul 2008 16:14:37 +0000 http://smartconsumerbanking.com/2008/06/22/imagining-financial-freedom/#comment-401 Darien, I think you are talking about inflation where the money is getting "smaller". This site is about something very basic - saving, and not on investment. If you really want to learnt how to invest, whether in stock market or creating something tangible, a good way to start, in my opinion, is reading those successful people's biography. Being successful is very much a charateristic thing - there are many good things one can learnt from them. Darien, I think you are talking about inflation where the money is getting “smaller”. This site is about something very basic - saving, and not on investment. If you really want to learnt how to invest, whether in stock market or creating something tangible, a good way to start, in my opinion, is reading those successful people’s biography. Being successful is very much a charateristic thing - there are many good things one can learnt from them.

]]> Comment on Imagining Financial Freedom by darien http://smartconsumerbanking.com/2008/06/22/imagining-financial-freedom/#comment-400 darien Wed, 09 Jul 2008 03:25:48 +0000 http://smartconsumerbanking.com/2008/06/22/imagining-financial-freedom/#comment-400 In my opinion, saving money isn't enough nowadays as money currency is going down hill. I hope some shed some light and ideas on making money - like invesment and so on. In my opinion, saving money isn’t enough nowadays as money currency is going down hill. I hope some shed some light and ideas on making money - like invesment and so on.

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