Our ways of consuming energy are totally inefficient. Currently I'm residing in Jakarta and the type of the huge CC family cars and continuous traffic jam are burning unmercifully the hydrocarbon resources in this country.
I can realize at the personal level how the traffic jammed days are consuming considerably more fuels from my budget and my fuel consumption. Multiply that by the thousands and millions of vehicles running in the streets and you will realize the immense losses facing this country.
Serious efforts should be implemented to address this problem.
If we see the energy intensity factors which is estimating the energy consumption per each 1% of GDP we will see that the majority of the countries of the world including China and India are consuming more energy to sustain their GDP's which is clear indication of the inefficient utilization of the energy in their manufacturing facilities and their production plants.
Investors and countries are spending billions of dollars to explore and produce hydrocarbons. I strongly believe that each dollar allocated for the exploration and production of oil. has to have another dollar allocated for the energy saving and the improvement of the efficient energy consumption.
City like Jakarta should have urgent plans for more efficient and reliable mass transportation means in addition to the national plans for raising the petroleum production.
The all energy consumption sources starting from the household equipments, fertilizers, cement factories, transportation should be urgently and seriously addressed.
More intelligent controls on the energy should be innovated for the street lights and the household equipments, air conditioning, and so on.
Because of the nature of my job I've seen the energy policy in the majority of the world are semi blinded and focusing only on the increasing of the power and energy without equal attention to the efficient utilization of the energy.
World leaders have to give the good and applicable example by holding their conferences as video conferences instead of gathering hundreds of audience in their conferences.
Holding conference about the world climate and the energy through the traditional conference is a sort of hypocrisy.
Incentives should be set for the virtual offices and the tele-workers to encourage the virtual offices and the business management through the internet.
So may business activities can be run through the internet. We need to urge and encourage the people to go ahead and new business protocols can be established to manage and control the businesses.
Saturday 25 September 2010
Monday 20 September 2010
Post-it notes on my mobile is really helpful
Since 4 years ago I was using the post-it notes on my mobile. Writing down notes on my mobile and previously on my Outlook notes was a routine practice for me where it helps me to remember all these scattered to-do tasks. I found that whenever I don't write down what I want to do I will simply forget totally to do it or I will remember it accidentally and usually very late.
One of the valuable benefits for recording the notes is the capturing of the new ideas.
Sometimes a new idea is popping in my head at certain time and I want to experiment it in my life, the instantly record it and later I will try it and see how it works.
The another value as I said is the reminding of chasing things in my life up to the highest details.
The another amazing value of this practice, it has managed to do a full transitioning of me by transforming me from a person who doesn't pay adequate attention to the details and the improper managing of the tasks in my life to a person who chase each single small tiny bit in his life and pay full attention to the microscopic details of what he is doing.
The impact on my life was totally positive where my life was improving continuously because of implementing my notes in timely basis and I reduced the missing of the deadlines and the consequences of forgetting the things which should be done.
Implementing the new ideas as well give me sense of creativity in my life and my life style was improving continuously and gradually.
This by itself was very valuable gain to see that my recorded notes are rewarding when I implemented them.
The conclusion I've definitely after these years is; the more notes to be recorded and the more ideas to be stored and the more micro-detailing and breaking down of my life to these small tasks as notes, and the more active and energetic approach to execute these notes, the more improvement I will gain.
I will increase the frequency of this practice and I will capture each idea. I've seen already how the good and sometimes innovative ideas and not wasted by this way by they are born to life by recording and executing them.
My only problem left to be solved now is putting these long lists of notes in a useful contexts. Meaning that I want to put them in space, time and classification contexts. If I will go somewhere where I can do couple of related to-do notes then I want to see that in my notes list. I want to schedule them also in my calendar and my task manager. I want to categorize the all shopping notes in a shopping list.
As I said I will more productive in my notes.
The another challenge I've notes scattered in many place. The most used ones are in my cell phone, but I've in my Gmail and My Yahoo and Outlook Notes.
How can I arrange this mess.
Some of these notes are staying for a long time without progress. I need to change my way of handling them by breaking down them to more affordable tasks.
I'm using basically the hand writing in my cell phone to quickly capture the notes.
whatever comes to my mind, has to be recorded in the notes. This practice has activated also my mind and turned me to person who care about solving his problems and improving his life. My mind was becoming more focused and sharp in addressing my life's staff.
The very small tasks and reminders have a place in this Notes like I want to buy this X on the way to home.
When I was revising from these notes to see what was already done to be deleted and what left to be done I was so satisfied to see that many of what I've done was the result of these ideas and the idea has come at one of these days and I recorded it and reviewing my notes reminded me with it and I've done and now I'm gaining its fruits.
How the creative ideas pushed to life and impacted positively the life was done through this practice.
I started also the voice recording of the notes. It's not yet quite effective but I will trying it also till it gives me its rewards.
One of the valuable benefits for recording the notes is the capturing of the new ideas.
Sometimes a new idea is popping in my head at certain time and I want to experiment it in my life, the instantly record it and later I will try it and see how it works.
The another value as I said is the reminding of chasing things in my life up to the highest details.
The another amazing value of this practice, it has managed to do a full transitioning of me by transforming me from a person who doesn't pay adequate attention to the details and the improper managing of the tasks in my life to a person who chase each single small tiny bit in his life and pay full attention to the microscopic details of what he is doing.
The impact on my life was totally positive where my life was improving continuously because of implementing my notes in timely basis and I reduced the missing of the deadlines and the consequences of forgetting the things which should be done.
Implementing the new ideas as well give me sense of creativity in my life and my life style was improving continuously and gradually.
This by itself was very valuable gain to see that my recorded notes are rewarding when I implemented them.
The conclusion I've definitely after these years is; the more notes to be recorded and the more ideas to be stored and the more micro-detailing and breaking down of my life to these small tasks as notes, and the more active and energetic approach to execute these notes, the more improvement I will gain.
I will increase the frequency of this practice and I will capture each idea. I've seen already how the good and sometimes innovative ideas and not wasted by this way by they are born to life by recording and executing them.
My only problem left to be solved now is putting these long lists of notes in a useful contexts. Meaning that I want to put them in space, time and classification contexts. If I will go somewhere where I can do couple of related to-do notes then I want to see that in my notes list. I want to schedule them also in my calendar and my task manager. I want to categorize the all shopping notes in a shopping list.
As I said I will more productive in my notes.
The another challenge I've notes scattered in many place. The most used ones are in my cell phone, but I've in my Gmail and My Yahoo and Outlook Notes.
How can I arrange this mess.
Some of these notes are staying for a long time without progress. I need to change my way of handling them by breaking down them to more affordable tasks.
I'm using basically the hand writing in my cell phone to quickly capture the notes.
whatever comes to my mind, has to be recorded in the notes. This practice has activated also my mind and turned me to person who care about solving his problems and improving his life. My mind was becoming more focused and sharp in addressing my life's staff.
The very small tasks and reminders have a place in this Notes like I want to buy this X on the way to home.
When I was revising from these notes to see what was already done to be deleted and what left to be done I was so satisfied to see that many of what I've done was the result of these ideas and the idea has come at one of these days and I recorded it and reviewing my notes reminded me with it and I've done and now I'm gaining its fruits.
How the creative ideas pushed to life and impacted positively the life was done through this practice.
I started also the voice recording of the notes. It's not yet quite effective but I will trying it also till it gives me its rewards.
Saturday 18 September 2010
Effective utilization of the technology in the business - 1
I strongly believe that technology can significantly ease our life and empower our businesses and boost them to unprecedented levels. Business intelligence is a huge domain and full of applications and resources to facilitate the business systems and processes.
The transition from the traditional business systems and processes to business intelligence is full of challenges should be properly addressed to effectively implement it in the quickest way and in the most efficient way without disrupting the business.
The weakest point in the implementation process is the people. People are resistive to the new technology by their nature and they always receive it as extra work or unnecessary effort.
Because of the nature of my business I dealt with different type of companies ranging from the small size to mega-cap corporate and from local to international.
The overwhelming majority of them were following traditional and bureaucratic methods in managing their business processes either fully or partially.
The room of improving their out-dated methods is huge.
The following short story of my last incident may explain further how the businesses in general still resistive and not fully adopted to embrace totally the technology
I was requested by my manager to travel to another remote location to replace temporarily the assigned person there.
As part of the process, there was two days of handover followed by the main assignment and there were two days-off in between.
I went there as planned and what I've found that there is not major subjects really to be covered in the handover period.
Meaning that what the information supposed to be passed during this period can be easily tele-communicated and the physical presence didn't add any value to this communication process.
So why that didn't happen? Definitely it is all about the people who are managing the process where they don't believe that technology can be efficient alternative of the traditional handover methods.
They still believe that technology is not fully reliable and counting on it in a sensitive subject my expose the business to unnecessary risk so their cost-benefit analysis justify the providing of the all logistics required for mobilizing a person to this remote location which include 4 hotel nights and flight tickets for two persons!!!.
This was just a single incident representing a small sample of what's going on continually in many organizations.
I know a certain company where each couple of months they were sending a complete team from north America to investigate a set of data. Was the technology not available for the remote accessibility? It was there for providing complete reliable remote accessibility to the data.
Technology was available also to save the cost spent on physically mobilizing the people in my case. Video conference and broad bandwidth are all what we need to run the handover process properly!!.
The transition from the traditional business systems and processes to business intelligence is full of challenges should be properly addressed to effectively implement it in the quickest way and in the most efficient way without disrupting the business.
The weakest point in the implementation process is the people. People are resistive to the new technology by their nature and they always receive it as extra work or unnecessary effort.
Because of the nature of my business I dealt with different type of companies ranging from the small size to mega-cap corporate and from local to international.
The overwhelming majority of them were following traditional and bureaucratic methods in managing their business processes either fully or partially.
The room of improving their out-dated methods is huge.
The following short story of my last incident may explain further how the businesses in general still resistive and not fully adopted to embrace totally the technology
I was requested by my manager to travel to another remote location to replace temporarily the assigned person there.
As part of the process, there was two days of handover followed by the main assignment and there were two days-off in between.
I went there as planned and what I've found that there is not major subjects really to be covered in the handover period.
Meaning that what the information supposed to be passed during this period can be easily tele-communicated and the physical presence didn't add any value to this communication process.
So why that didn't happen? Definitely it is all about the people who are managing the process where they don't believe that technology can be efficient alternative of the traditional handover methods.
They still believe that technology is not fully reliable and counting on it in a sensitive subject my expose the business to unnecessary risk so their cost-benefit analysis justify the providing of the all logistics required for mobilizing a person to this remote location which include 4 hotel nights and flight tickets for two persons!!!.
This was just a single incident representing a small sample of what's going on continually in many organizations.
I know a certain company where each couple of months they were sending a complete team from north America to investigate a set of data. Was the technology not available for the remote accessibility? It was there for providing complete reliable remote accessibility to the data.
Technology was available also to save the cost spent on physically mobilizing the people in my case. Video conference and broad bandwidth are all what we need to run the handover process properly!!.
Tracking my personal finances is becoming my daily routine
I managed to convert the tracking of my personal finances to a daily routine. Everyday I'm improving the efficiency and the accuracy of my spreadsheets to be more reliable and everyday I'm gaining more knowledge and experience about the personal finances. It's becoming a daily habit to track my online banking accounts, my budget spreadsheet, and my asset spreadsheet and to know exactly my net worth after deducing my credit balance.
Time spent on it is decreasing day by day and everyday I learn new trick in Excel to automate the spreadsheets and to reduce the manual update.
It's not fully auto-piloted but everyday I find a way to fill one of the cells automatically instead of manually updating it.
I've found recently a way also to calculate my expenses for each category instead of doing that manually. All I need at this stage is just to type symbol representing the type of the item and one of Excel functions will automatically calculate the expense for each category.
I decided to focus more on the gross expenses at this stage and later the detailed budget spreadsheet will come by the gradual improving of my tracking.
Time spent on it is decreasing day by day and everyday I learn new trick in Excel to automate the spreadsheets and to reduce the manual update.
It's not fully auto-piloted but everyday I find a way to fill one of the cells automatically instead of manually updating it.
I've found recently a way also to calculate my expenses for each category instead of doing that manually. All I need at this stage is just to type symbol representing the type of the item and one of Excel functions will automatically calculate the expense for each category.
I decided to focus more on the gross expenses at this stage and later the detailed budget spreadsheet will come by the gradual improving of my tracking.
Friday 10 September 2010
Technical and scientific journaling
I've developed this routine in my career since two years. I'm journaling my technical and scientific notes. This work has developed my understanding about my technical domain and empowered my technical knowledge in my work domain. It has developed also curious spirit about the science behind my technical domain and to get in-depth understanding.
It has developed the deep thinking skills and the logical deduction of the fundamentals and the reasoning.
the value and quality of these notes are ranging from just recalling of the new technical information I gained through the day or the week to really creative and innovative ideas but whatever the level of my notes, I'm appreciating them where all are valuable for me.
This routine has triggered my mind to brainstorm always about the technical problems and to solve them and to collect the scientific facts about them piece by piece.
This trigger is ignited by the work tasks and the new information where these are my ammunition and materials for thinking.
I need to feed my mind with them to think.
This work has developed also a very precise investigation of my technical domain and the desire to understand the details and the fundamentals about it and the desire to digest these fundamentals.
This desire of the in-depth thinking is developing gradually avenues and desire of scientific research and curious mind to understand deeper the science behind these technical domains.
All these were totally drastic change on my way of working and full transition from the shallow engagement to the applied science domain and to the working researcher and working scientist attitude.
It has contributed significantly in my technical competency skills which was reflected positively on the others' evaluation of me.
all my effort in this technical journaling was directly rewarding.
I was becoming day after day smarter in my work and more accurate in my understanding about the smallest things in my technical domain.
I was becoming more and more experience to explore and to discover the scientific fundamentals and the technical fundamentals and the technological innovations.
I will intensify this routine by carrying handy block-note with me to increase and deepen this habit.
I was cease each chance to brainstorm my mind and to produce more and more notes and ideas.
I will expose more and more myself to technical events to feed my mind with the materials of thinking.
Each moment I was discovering new inch in the world of science and discovery and my understanding was getting a bit better and better toward the scientific truth.
Because of the other interests in my life this routine was affected by reducing the assigned time and the lack of ideas to trigger my mind to by active in the thinking of my technical domain.
I will recover again the previous levels of my technical journaling and restore my innovative thinking by the better managing of my time and more determination to assign time for that.
The brainstorming could happen in many occasions and even in the morning shower or the way to the parking lot!!.
I was discovering everyday new "territories" in the universe of science and knowledge.
Each exposure is a really golden chance for me to know more and to discover more and I will cease each chance to do that.
If I managed to keep this routine active in my life and empowered it it will escalate my technical understanding and it will be promote my career to unprecedented levels.
It will be the most rewarding act in my life.
It has developed the deep thinking skills and the logical deduction of the fundamentals and the reasoning.
the value and quality of these notes are ranging from just recalling of the new technical information I gained through the day or the week to really creative and innovative ideas but whatever the level of my notes, I'm appreciating them where all are valuable for me.
This routine has triggered my mind to brainstorm always about the technical problems and to solve them and to collect the scientific facts about them piece by piece.
This trigger is ignited by the work tasks and the new information where these are my ammunition and materials for thinking.
I need to feed my mind with them to think.
This work has developed also a very precise investigation of my technical domain and the desire to understand the details and the fundamentals about it and the desire to digest these fundamentals.
This desire of the in-depth thinking is developing gradually avenues and desire of scientific research and curious mind to understand deeper the science behind these technical domains.
All these were totally drastic change on my way of working and full transition from the shallow engagement to the applied science domain and to the working researcher and working scientist attitude.
It has contributed significantly in my technical competency skills which was reflected positively on the others' evaluation of me.
all my effort in this technical journaling was directly rewarding.
I was becoming day after day smarter in my work and more accurate in my understanding about the smallest things in my technical domain.
I was becoming more and more experience to explore and to discover the scientific fundamentals and the technical fundamentals and the technological innovations.
I will intensify this routine by carrying handy block-note with me to increase and deepen this habit.
I was cease each chance to brainstorm my mind and to produce more and more notes and ideas.
I will expose more and more myself to technical events to feed my mind with the materials of thinking.
Each moment I was discovering new inch in the world of science and discovery and my understanding was getting a bit better and better toward the scientific truth.
Because of the other interests in my life this routine was affected by reducing the assigned time and the lack of ideas to trigger my mind to by active in the thinking of my technical domain.
I will recover again the previous levels of my technical journaling and restore my innovative thinking by the better managing of my time and more determination to assign time for that.
The brainstorming could happen in many occasions and even in the morning shower or the way to the parking lot!!.
I was discovering everyday new "territories" in the universe of science and knowledge.
Each exposure is a really golden chance for me to know more and to discover more and I will cease each chance to do that.
If I managed to keep this routine active in my life and empowered it it will escalate my technical understanding and it will be promote my career to unprecedented levels.
It will be the most rewarding act in my life.
The negative influence
Sometimes it's nice to share our dreams, goals and plans with other peers particularly if they can give constructive and useful feedbacks and use their minds, experience, and knowledge to strengthen ours.
In fact this is not always the case, where some of the people has totally negative influence where they are projecting their very personal life in "others" goals and try to mirror them.
I would like from whoever I share in my plans and goals to put it in my context and not his context and his life.
What I've seen from some of them, they are trying to mirror me to be exactly like them.
It's was obvious conclusion that sharing my life goals and plans with such kind of people is more harmful than useful and it is much better to exclude them from my circle of "advisors".
These people can forward negative influence about my goals and plans using their persuasive power though I 'm fully confident about my way of thinking since I claimed the reward of it but their persuasive part may shaken this confidence and reduce the momentum and the strength.
These category of the people who have de-motivation spirit and who perceive a lot of effort as pointless and who don't see potential in many people should be totally excluded from any seeking of advice.
They are injecting negative energy and shaking the self confidence and throwing uncertainty and lack of confidence in the future.
I've noticed also that they themselves are resistive to change since they don't see point or hope in the changes in addition to their lack of trust in the others' potentials.
They are following this concept consciously or subconsciously that if we can not run with the world pace then let the world freeze like us or slow down to be similar to their pace. Mirroring the people are the world to their internal image.
I've found that it is much better to not be out spoken about my plans to and keep them for myself instead of sharing them with these people.
I experienced this category in the past and I need to put extra effort and get rid from their negative influence and their negative "advises" where they were shaking strongly my self confidence and self perception about my abilities.
I would prefer to put this extra-effort in achieving my goals rather than persuading them or moving forward with wounded and shaken self-confidence.
Fortunately, I reversed their negative influence to be one of my driver to prove that the are wrong about me and I will continue in my way to prove to them and the whole world that I'm capable in what I was seeking for.
Negative spirit is infectious and I will do my best to contain it and to avoid it and to shield myself from it.
In fact this is not always the case, where some of the people has totally negative influence where they are projecting their very personal life in "others" goals and try to mirror them.
I would like from whoever I share in my plans and goals to put it in my context and not his context and his life.
What I've seen from some of them, they are trying to mirror me to be exactly like them.
It's was obvious conclusion that sharing my life goals and plans with such kind of people is more harmful than useful and it is much better to exclude them from my circle of "advisors".
These people can forward negative influence about my goals and plans using their persuasive power though I 'm fully confident about my way of thinking since I claimed the reward of it but their persuasive part may shaken this confidence and reduce the momentum and the strength.
These category of the people who have de-motivation spirit and who perceive a lot of effort as pointless and who don't see potential in many people should be totally excluded from any seeking of advice.
They are injecting negative energy and shaking the self confidence and throwing uncertainty and lack of confidence in the future.
I've noticed also that they themselves are resistive to change since they don't see point or hope in the changes in addition to their lack of trust in the others' potentials.
They are following this concept consciously or subconsciously that if we can not run with the world pace then let the world freeze like us or slow down to be similar to their pace. Mirroring the people are the world to their internal image.
I've found that it is much better to not be out spoken about my plans to and keep them for myself instead of sharing them with these people.
I experienced this category in the past and I need to put extra effort and get rid from their negative influence and their negative "advises" where they were shaking strongly my self confidence and self perception about my abilities.
I would prefer to put this extra-effort in achieving my goals rather than persuading them or moving forward with wounded and shaken self-confidence.
Fortunately, I reversed their negative influence to be one of my driver to prove that the are wrong about me and I will continue in my way to prove to them and the whole world that I'm capable in what I was seeking for.
Negative spirit is infectious and I will do my best to contain it and to avoid it and to shield myself from it.
Tuesday 7 September 2010
Tracking my financial quotient progress
I 'm increasing gradually my financial awarenss, knowledge and in general my financial quotient day by day.
Because of that and the executed financial resolutions I managaed to cut some considerable losses by implementing a package of financial resolutions in my life.
I’m fully satisfied to see the rewards and the impact of these resolutions and gained fruits.
I stopped being ignorant and illiterate about my banking status and statements and expenses and credits.. and stopped saying I’m not good in these stuff to be I’m working on being good on this stuff by following improvement plan. I turned it to area of improvement to be addressed and focused. As a consequence, My credit charges and the associated bank fees were reduced drastically.
In a first time since months ago I don't have defered billed charges and this skyrocketing credit debit interests.
I only had the late charge assessment fees which I will cut it from the next month totally by improving my payment due time and discipline.
I’m no regretting losing some money –which was a lot – in the past months because of these credit interests because I’ve gained the lesson learned from this experienc.
The lesson is really valuable and as I was saying to myself always if my mistake will be the last one and lessons will be fully comprehended and followed then this mistake is really worthy to be done to pass the lesson and it would be fair price to be paid for a valuable lesson in life.
Some people learn from other’s mistakes, others learn from their own mistakes, others don’t get the lesson at all. I will be at least form the ones who learn from their own mistakes and who are not repeating their mistakes for ever if I’m not from the one who learn from the other’s mistakes and lessons.
The second losses cutting resolution was avoid filling my local currency credit balance from my dollar account where the bank rate was far low beyond the market rate. I decided to withdraw cash from the bank and sell the dollar outside to get better price and deposit them back in the credit balance.
The difference really matters by using simple math I found it can reach up or more than 1000$ per year just because of that.
Thirdly I’m waiting till I find in the market the best likely price and sell my dollars using this price which again add some gains.
Fourthly no cash in advance from the credit.
Fifthly I will deposit in the beginning of each month our estimated monthly expenses to cover our expenses all over the month and avoid any possibility of exceeding the due time since I decided to cover the credit balance month by month.
My financial awareness is really rewarding and I can feel the positive impact and the self satisfaction.
It is totally different when I was receiving the statement and don’t understand what the hack these numbers are referring to then folding it again and throw it in the drawer and I ended up with a heavy credit debit.
Meanwhile I’m still working in improving my budgeting.
One of my friend noticed my growing interest in my personal finances and from his perspective it is like counting the peanuts which may spoil my enjoyment with the life by bothering myself with all these numbers.
In my perspective, it is the other way around, this awareness was a source of self satisfaction and reaching the financial freedom as a goal some day it really worthy to put some effort in doing that by following strictly your finances.
The purpose was never cutting the expenses or downscaling my life style but optimizing my expenses by cutting the non sensable expenses and directing them in more valuable channels.
Because of that and the executed financial resolutions I managaed to cut some considerable losses by implementing a package of financial resolutions in my life.
I’m fully satisfied to see the rewards and the impact of these resolutions and gained fruits.
I stopped being ignorant and illiterate about my banking status and statements and expenses and credits.. and stopped saying I’m not good in these stuff to be I’m working on being good on this stuff by following improvement plan. I turned it to area of improvement to be addressed and focused. As a consequence, My credit charges and the associated bank fees were reduced drastically.
In a first time since months ago I don't have defered billed charges and this skyrocketing credit debit interests.
I only had the late charge assessment fees which I will cut it from the next month totally by improving my payment due time and discipline.
I’m no regretting losing some money –which was a lot – in the past months because of these credit interests because I’ve gained the lesson learned from this experienc.
The lesson is really valuable and as I was saying to myself always if my mistake will be the last one and lessons will be fully comprehended and followed then this mistake is really worthy to be done to pass the lesson and it would be fair price to be paid for a valuable lesson in life.
Some people learn from other’s mistakes, others learn from their own mistakes, others don’t get the lesson at all. I will be at least form the ones who learn from their own mistakes and who are not repeating their mistakes for ever if I’m not from the one who learn from the other’s mistakes and lessons.
The second losses cutting resolution was avoid filling my local currency credit balance from my dollar account where the bank rate was far low beyond the market rate. I decided to withdraw cash from the bank and sell the dollar outside to get better price and deposit them back in the credit balance.
The difference really matters by using simple math I found it can reach up or more than 1000$ per year just because of that.
Thirdly I’m waiting till I find in the market the best likely price and sell my dollars using this price which again add some gains.
Fourthly no cash in advance from the credit.
Fifthly I will deposit in the beginning of each month our estimated monthly expenses to cover our expenses all over the month and avoid any possibility of exceeding the due time since I decided to cover the credit balance month by month.
My financial awareness is really rewarding and I can feel the positive impact and the self satisfaction.
It is totally different when I was receiving the statement and don’t understand what the hack these numbers are referring to then folding it again and throw it in the drawer and I ended up with a heavy credit debit.
Meanwhile I’m still working in improving my budgeting.
One of my friend noticed my growing interest in my personal finances and from his perspective it is like counting the peanuts which may spoil my enjoyment with the life by bothering myself with all these numbers.
In my perspective, it is the other way around, this awareness was a source of self satisfaction and reaching the financial freedom as a goal some day it really worthy to put some effort in doing that by following strictly your finances.
The purpose was never cutting the expenses or downscaling my life style but optimizing my expenses by cutting the non sensable expenses and directing them in more valuable channels.
Saturday 4 September 2010
Automating my finances
I'm still working on automating further my personal finances tracking system.
It's kind of challenging and it I'm learning from time to time some Excel tips and hints to reach this goal.
It will be step at a time and will require brainstorming, innovative and experimenting till I reach my goals and leave the financial auto-pilot drive by itself.
It's kind of challenging and it I'm learning from time to time some Excel tips and hints to reach this goal.
It will be step at a time and will require brainstorming, innovative and experimenting till I reach my goals and leave the financial auto-pilot drive by itself.
No wonder accounting is a lengthy task
I was working in closing my monthly balance. I confess that it was a time consuming and lengthy process but I still have the determination to continue it month after month because of its realized profound value to control my expenses and believing that I'm going to master and improve it which will eventually reduce the time and effort month after month.
They key important point that I will not stop it or get bored from doing it.
I will continuously think about improving it and automating it.
I read in one of the guide book for personal finances to automate the budget spreadsheet as an autopilot.
That's what I'm working on now.
My monthly budget was depending on adding up the different items which is definitely lengthy process if we are taking about family spendings between different countries and withdrawing from different bank accounts!!.
I decided to create new cell in my budget Excel spreadsheet and to insert the starting balance for each month which and the end balance including only the incomes added to the starting balance and the actual balance. This will give me indication about the total expenses. Though it will be gross but it will be informative about the total expenses each month.
I will subtract from this gross monthly expenses my spending items and the left will be the gap to be reduced gradually by improving the tracking of my budget.
Let' see if these ideas will work.
I really understood why my colleagues in the business process, accounting, and business analysis are spending long time at the last week of each month to close the balance sheet of our business unit.
I truly believe that the business intelligence and the strict following of best practices can reduce gradually the majority of this effort and time at the corporate and personal levels.
They key important point that I will not stop it or get bored from doing it.
I will continuously think about improving it and automating it.
I read in one of the guide book for personal finances to automate the budget spreadsheet as an autopilot.
That's what I'm working on now.
My monthly budget was depending on adding up the different items which is definitely lengthy process if we are taking about family spendings between different countries and withdrawing from different bank accounts!!.
I decided to create new cell in my budget Excel spreadsheet and to insert the starting balance for each month which and the end balance including only the incomes added to the starting balance and the actual balance. This will give me indication about the total expenses. Though it will be gross but it will be informative about the total expenses each month.
I will subtract from this gross monthly expenses my spending items and the left will be the gap to be reduced gradually by improving the tracking of my budget.
Let' see if these ideas will work.
I really understood why my colleagues in the business process, accounting, and business analysis are spending long time at the last week of each month to close the balance sheet of our business unit.
I truly believe that the business intelligence and the strict following of best practices can reduce gradually the majority of this effort and time at the corporate and personal levels.
Reading habits
I changed my reading habits. In the past I was very shallow reader who is scanning the words without bothering to comprehend or to understand between the lines or to think about the fundamentals behind what I was reading.
I was scanning with my eyes like a dummy machine the words and absorb what goes smoothly to my mind and the skip what challenges my mind without bothering to comprehend it.
I changed this habit since I started to think deeply about my work domain where it has developed the deep thinking and innovative and creative thinking. My mind has gained again how to deeply process the information and to deeply dive into it to understand the roots of it.
I accepted now as well that sometimes you can not understand simply the complicated information from the first time and I need to double the effort if I want to understand it. In the past, I didn't give myself this chance.
This was drastic change in my reading and digesting what I read instead of the shallow knowledge. Now my mind has to question, criticize, and comprehend and even create and innovate something out of it and consolidate opinion about it.
I was scanning with my eyes like a dummy machine the words and absorb what goes smoothly to my mind and the skip what challenges my mind without bothering to comprehend it.
I changed this habit since I started to think deeply about my work domain where it has developed the deep thinking and innovative and creative thinking. My mind has gained again how to deeply process the information and to deeply dive into it to understand the roots of it.
I accepted now as well that sometimes you can not understand simply the complicated information from the first time and I need to double the effort if I want to understand it. In the past, I didn't give myself this chance.
This was drastic change in my reading and digesting what I read instead of the shallow knowledge. Now my mind has to question, criticize, and comprehend and even create and innovate something out of it and consolidate opinion about it.
Financial tips already implemented or in progress
- I'm regularly logging to my online banking and copy the download the monthly bank statements for the saving accounts and for the credit accounts in certain folders to keep the full record.
- I'm copying also any new items in the credit to a master Excel spreadsheet where I can analyze and understand them and calculate the credit debit and classify them to the different shopping categories to understand my spendings.
- This process has helped me to control any new item in the credit and established the regular checking of my online banking as a routine habit.
- I'm planning to subscribe in the SMS alert to receive notification whenever there is any transaction in my accounts.
- I'm working on automating some of the steps to accelerate the process and to reduce my manual interference.
- The linking between the bank statements spreadsheet and the budget spreadsheet is done manually for the time being but I'm working on linking them automatically.
- I'm building more awareness about the currency conversion and how I can reverse it to my favor.
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- I'm copying also any new items in the credit to a master Excel spreadsheet where I can analyze and understand them and calculate the credit debit and classify them to the different shopping categories to understand my spendings.
- This process has helped me to control any new item in the credit and established the regular checking of my online banking as a routine habit.
- I'm planning to subscribe in the SMS alert to receive notification whenever there is any transaction in my accounts.
- I'm working on automating some of the steps to accelerate the process and to reduce my manual interference.
- The linking between the bank statements spreadsheet and the budget spreadsheet is done manually for the time being but I'm working on linking them automatically.
- I'm building more awareness about the currency conversion and how I can reverse it to my favor.
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Organizational skills
I strongly believe that the disciplined life and the organized persons are getting profound value from these positive habits. On the other side the undisciplined persons are paying daily heavy prices for this lack of organizing skills and their lack of well to be organized.
I read before an article saying that the personal discipline is improving the mental power and the intelligence. It was based on a simple and obvious conclusion that discipline is utilizing frequently the logical skills to locate items where they supposed to be and sorting and categorizing them. All these mental skills are exercised frequently in the disciplined environment.
Huge and considerable of time can be saved by following rigid discipline.
Money also can be saved where many time we are regenerating or re-buying items simply because we can find the old ones.
I decided before that I will never spend my time searching for any thing and I will avoid this frustrating time totally by improving drastically my discipline and my organizational skills.
Discipline is reflected also in the psychological mood of the persons where whenever your eyes go in your house you will find pleasant scene to look at instead of the chaotic random location which silently leaks unpleasant feelings to your soul.
Organizational skills and discipline are totally gained habits and can be gained and improved by the well and practicing.
Disciplined location is a source of fairness to the soul and source of self-satisfaction.
I 'm gradually increasing my discipline in my life.
When I received my current overseas assignment I was requested to provide so many papers and I couldn't find some of them due my lack of discipline. I decided since then that any effort in the discipline and organizing my life is worthy.
I'm still beyond perfect by I'm improving gradually till I reach to my goal of perfect discipline in the life.
I read before an article saying that the personal discipline is improving the mental power and the intelligence. It was based on a simple and obvious conclusion that discipline is utilizing frequently the logical skills to locate items where they supposed to be and sorting and categorizing them. All these mental skills are exercised frequently in the disciplined environment.
Huge and considerable of time can be saved by following rigid discipline.
Money also can be saved where many time we are regenerating or re-buying items simply because we can find the old ones.
I decided before that I will never spend my time searching for any thing and I will avoid this frustrating time totally by improving drastically my discipline and my organizational skills.
Discipline is reflected also in the psychological mood of the persons where whenever your eyes go in your house you will find pleasant scene to look at instead of the chaotic random location which silently leaks unpleasant feelings to your soul.
Organizational skills and discipline are totally gained habits and can be gained and improved by the well and practicing.
Disciplined location is a source of fairness to the soul and source of self-satisfaction.
I 'm gradually increasing my discipline in my life.
When I received my current overseas assignment I was requested to provide so many papers and I couldn't find some of them due my lack of discipline. I decided since then that any effort in the discipline and organizing my life is worthy.
I'm still beyond perfect by I'm improving gradually till I reach to my goal of perfect discipline in the life.
Budgeting and credit and debit cards to capture it
As per my previous resolution to discipline more my budget monitoring, I'm trying to push further for using the credit and debit card in the majority of our family spendings. The online banking service and extracting the statement about the credit and debit spendings is really facilitating my effort to maintain regular and accurate as possible monthly budget.
I pay anyway the bank fees for these cards so it is better then to utilize them as operate the bank as my personal accountant!!.
Some people are regarding the plastic money as evil where they loose control on their expenditures and spending is very seducing using it.
In my perspective it is very convenient mean as long as I'm continuously extracting each new purchased item from the online banking and copying it in my Excel spreadsheet to update the all balances.
Following this manner has gave me the full control and show me the value of this bank records.
Debit cards definitely are much better where there is no risk of over-spending from the credit or any credit interests.
That's why I reactivated by debit card and I'm using it more than the credit since then to reduce the credit spending relative to the credit spendings.
The second resolution is the due payment time of the credit which I was missing always and credit interest charges were accumulating.
This was totally avoidable and unnecessary cost and I already implemented my previous resolution to pay before the due time and I will even deposit upfront in the beginning of each month our projected expenses to cover the expected credit.
By this way I will avoid totally the credit interests and this silly late charge assessments from HSBC!!!.
I pay anyway the bank fees for these cards so it is better then to utilize them as operate the bank as my personal accountant!!.
Some people are regarding the plastic money as evil where they loose control on their expenditures and spending is very seducing using it.
In my perspective it is very convenient mean as long as I'm continuously extracting each new purchased item from the online banking and copying it in my Excel spreadsheet to update the all balances.
Following this manner has gave me the full control and show me the value of this bank records.
Debit cards definitely are much better where there is no risk of over-spending from the credit or any credit interests.
That's why I reactivated by debit card and I'm using it more than the credit since then to reduce the credit spending relative to the credit spendings.
The second resolution is the due payment time of the credit which I was missing always and credit interest charges were accumulating.
This was totally avoidable and unnecessary cost and I already implemented my previous resolution to pay before the due time and I will even deposit upfront in the beginning of each month our projected expenses to cover the expected credit.
By this way I will avoid totally the credit interests and this silly late charge assessments from HSBC!!!.
Real estate bubble
Egypt as a developing country is going through a real estate bubble. The investment in the properties is very high and the amount of the business in the compounds, land properties, coastal resorts, apartment complexes is representing huge volume of the current Egyptian economy. It is even attracting the foreign investors to invest in the real estate in Egypt.
It was well known in Egypt between the public that the best and the most secured business is in the real estate. People where buying either apartments or lands and utilizing them or mainly freezing them as frozen assets till they reach their target price due to the appreciation value of these properties.
I think it is the time for me as well to benefit from this bubble. I will avoid the freezing of the property since I've ethical concerns about that where it is freezing the wealth which is holding the value of the money from spreading mutually between the people.
It is still puzzling for me how this real estate sector is flourishing in Egypt although the weak purchase power. apparently the only interpretation that Egypt is one of the countries where there is a considerable class in Egypt where they have their own savings but because of the limited and modest living facilities they didn't have the channel to spend their money except accumulating them in the banks.
This real estate book has withdraw the liquidity and the savings of these people by attracting them to buy properties as liabilities for living or as assets for investments.
Though the governmental officials are claiming that the real estate sector is very healthy for the economy where it is activating about 18 other industries like steel, cement, ceramic, etc, but I believe that it is not the best way to utilize the savings of the people.
Dubai was a clear example for the uncontrolled expansion of the real estate bubble and building luxurious towers without balancing that with investing in productive and revenue generating sectors like trading, industry, IT, or agriculture or services.
Same risk is potential for Egypt.
Property investing is competing with other more vital sectors to the economy and it reduces the potential of the local investors to invest in other more vital sectors for the economy.
People are resorting to the real estate sector because the other sectors are less secured or not available which is clear indication of the poverty of the investments in Egypt.
The proportionality of the real estate investment to the industrial, agricultural, services, or IT investment could work as a health check of the investment and economy of any country.
It was well known in Egypt between the public that the best and the most secured business is in the real estate. People where buying either apartments or lands and utilizing them or mainly freezing them as frozen assets till they reach their target price due to the appreciation value of these properties.
I think it is the time for me as well to benefit from this bubble. I will avoid the freezing of the property since I've ethical concerns about that where it is freezing the wealth which is holding the value of the money from spreading mutually between the people.
It is still puzzling for me how this real estate sector is flourishing in Egypt although the weak purchase power. apparently the only interpretation that Egypt is one of the countries where there is a considerable class in Egypt where they have their own savings but because of the limited and modest living facilities they didn't have the channel to spend their money except accumulating them in the banks.
This real estate book has withdraw the liquidity and the savings of these people by attracting them to buy properties as liabilities for living or as assets for investments.
Though the governmental officials are claiming that the real estate sector is very healthy for the economy where it is activating about 18 other industries like steel, cement, ceramic, etc, but I believe that it is not the best way to utilize the savings of the people.
Dubai was a clear example for the uncontrolled expansion of the real estate bubble and building luxurious towers without balancing that with investing in productive and revenue generating sectors like trading, industry, IT, or agriculture or services.
Same risk is potential for Egypt.
Property investing is competing with other more vital sectors to the economy and it reduces the potential of the local investors to invest in other more vital sectors for the economy.
People are resorting to the real estate sector because the other sectors are less secured or not available which is clear indication of the poverty of the investments in Egypt.
The proportionality of the real estate investment to the industrial, agricultural, services, or IT investment could work as a health check of the investment and economy of any country.
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