Archive for the ‘Education’ Category

Goals are good…

Dawn of every new year brings more talks about Self discipline, Self improvements using different methodologies. It is good to think about self improvement atleast once year if you don’t concentrate more during the year. I believe every New year adds a brand new page in our lives giving us opportunities to either work on our new dreams or continue to stay on course with our current goals.

It is a good thing to think about resolutions and goals at the start of the year so you can try to accomplish them to end the year in a good note.

Goals are good compared to resolutions as per many experts because resolutions have tendency to erode and lose the importance as the days go on. As per some survey, 50% resolutions are been broken within a week and many break all their resolutions less than 3 months.. The reason, resolutions don’t have definite plan of action. On the other hand, goals work differently. It can be broken down to smaller milestones and  plans can be drafted which can be follow through with actions. I know, it is easier said then done.

I read an article in Costco Connections about a book named, “Succeed: How we can reach our goals?”. The author talks about people behavior and how many can reach their goals and not other. She says others can also do the same by building their “Self control muscle“.  One reason she mentions that people think they don’t have the inbuilt ability to do so compared to others who succeed. That is wrong. She says, not everybody is born smart but smartness can be achieved overtime with great perseverance. Another book named “Talent is Overrated: What seperates word class performers and others also proves that fact. She suggest motivating kids by saying you are smart might be good compliment but encouraging their perseverance and effort goes a long way.

She continues to say that many don’t success because they don’t have plan or follow through action for their goals and suggest to use her “If-then” method. If I get $100 more than last month, I will put in savings. It seem to have worked for her. If it’s monday and wednesday, I will work out. It might seem like kids home work but that’s basis and works well. To read the full article, visit costcoconnection.com

Everyone is different. What I do is, I usually categorize the goals as Personal, Financial, and Family goals. I prioritize them and jot them in a big white board in my study room so I can see them every day. I draft plan for one goal at a time and follow through by taking action. That’s about it. 

Small amount of time spent on everyday on one or multiple goals can surely take to your destination. Example, I wanted to be a CFP(Certified Financial Planner) and made it as a goal in 2008. I planned one step at time. I completed the course in 2010, took the exam and completed CFP exam 2010 end. Currently, I am working to get some experience so I can be a CFP?. I don’t have finance background but I am just determined to get a CFP?. That’s my goal and I am working towards it.

Don’t give “NO TIME” as silly excuse. Everyone only got 24 hours a day and 12 hours to actually do something productive. If you don’t find time to all, concentrate atleast one or two important things so you can say at the end of this year, you have something to write in your life book. To make this year a good one or better is in your hands, start something this month and plan to follow through.

All the best…

PS: Thanks to mymoneyblog.com author Jonathan who shared about “Talent is Overrated” book.

My CFP Certification Quest – Part 2

This year is almost over as December is upon us. It has been 2 weeks since I took my CFP exam and 4-6 weeks remaining for the sit and wait game to be over so I can get the results. 

When I posted a blog last June about my CFP Certification quest, I just completed the CFP Online Course and crossed the first hurdle(education eligibility requirement of the CFP board) towards getting the CFP Certification.  Next I wanted to take on the biggest challenge to appear for the CFP exam in Nov. I want to face the exam well prepared because I kept hearing it was a tough one. In the last post, I promised to share my experience about the CFP course from BU, so let me talk about that before going to the review classes.

Boston University CFP Course

I signed for BU course in Nov 2008 when they ran very good special of $1737 to celebrate their anniversary or something. I just happen to come across while I was searching for CFP course providers. I quickly did comparison with other providers and their offerings for the course. It came out BU is the least expensive with some good history of passing rate. So I signed up for the Online Self study course hoping to study myself which will be vaild for limited time of 18 months only.



—  Course Content

No predesigned study material from BU. You can pay extra $500 for the books they recommend and they will send to you or you can buy it yourself. I bought most of my books myself online at half.com and amazon.com for better price and saved few hundred dollars. I first took few weeks to review the course material and made decision to continue otherwise I had the option to discontinue within a month and get refund.

I started studying more religiously by finishing the reading assignment from the book followed by reading online material. It took me almost 4 months to finish my first module. I was bit disappointment but I don’t know how to speed it up because you only got limited time to spend after full time work and family time. I was doing my level best and moved along.



— Assignments

There is no particular home work or assignments given by tutors since there is none for the self study route. You are your own teacher to gauge yourself. So I just tried to keep up with the reading assignments they had for each module for atleast 2 modules. For the rest 4 modules, I skipped the reading assignments and only concentrated on the online materials because I felt most of them are covered in the online material. So its up to each individual capability and time availability to select their path.


— Course Support

As I told, I skipped the reading assignmens and started going thru online material only for rest of the 4 modules to go faster. Even that took almost 2-3 months for each module. I felt the time period is short for self study if you want to do both books and online material. I only need tutor clarification few times in the whole of my study time. It wasn’t bad. Once you send the email, you get reply with clarification in 1-2 days. They only answer the questions on the topics not on the exam questions directly. They made sure I understood the problem first and always asked my opinion about possible answers and explanation before before giving directions to find the answer myself. That helps to go through the material again and find the answers.


— Course Exams

They had exams for every module. It contined 50 questions, 42 multi-choice questions with 2 case studies that had 4  questions each.  I had to get above 73% to pass the exam. I was allowed to take as many times as possible to pass and improve my scores. It was a big bonus so I took exams multiple times and improved my score as much as possible to almost “A” to most of the modules. But I had to go through wrong questions and analyse them deep enough to find their answers so I can try another time to score better. It seems like they have set of questions and never gets repeated often so it’s different most of the time.

I was able to complete all the module just 10 days before the end of the expiration and got the CFP course certificate in August 2010. If you want my referral to get some course discount with BU, please don’t hesitate to email me.

Signing up for Review Class

I waited for my course certificate to arrive before signing up for the review class. Just to be sure that I have completed it successfully and no issues. Meanwhile, I started doing my research to find out a good Review class which has more options and avenues to get more exposure to all topics necessary for the exam.  Since I took the self study course, this time I want to take choose the class that gives both Traditional and online classes if possible so I can get the feel for the topics personally from the instructor. There were lot of review classes available starting from $1000 to $1500 and will talk more about in the next post.

Generic Drugs – Safe & Save

In the last post, we saw how Store or private band products helps to save tons of money instead of buying national brand products. I got lot of enquires about Generic brand drugs and want to address that topic too.

What are Generic Brand Drugs?

According to FDA(Food and Drug Administration), Generic drugs are copies of brand-name drugs and are the same as those brand name drugs in dosage form, safety, strength, route of administration, quality, performance characteristics and intended use.  Generic drugs are required to have the same active ingredient, strength, dosage form, and route of administration as the brand name (or reference) product.  Generic drugs do not need to contain the same inactive ingredients as the brand product.

Are they safe?

As per FDA, today 7 in 10 prescription filled are generic drugs. Health care professionals and consumers can be assured that FDA approved generic drug products have met the same rigid standards as the innovator drug. All generic drugs approved by FDA have the same high quality, strength, purity and stability as brand-name drugs. And, the generic manufacturing, packaging, and testing sites must pass the same quality standards as those of brand name drugs.  You can check more facts and Myths about Generic drugs at generic drug section of 
FDA.gov

Why Generic drugs are cheaper than brand names?


When a drug company introduces their new drug to the market, they have to go thru lot of process starting from research, innovation, development, testing, approval, marketing and other costly affairs to get their drug out to the market. With more scientific advancement comes more cost associated with the research. Like every other business, money spent on research and other process by the drug company gets transferred to the product price and to the consumer in order for the company to make profit.

During the patenting and approval process, innovators/drug companies are restricted  to use the patent for specific period of time which should allow them to set their price in order to get their return in investment and make some profit. After that period, drug chemical composition is open to any other company to manufacture the same drug in similar manner and make it available as Generic. Those companies don’t have to spend money on research and approval except they need to get FDA approval on their generic drug. That’s why brand names cost more than the generic brands.


Are all generic brand drugs same?


Yes, very much. Whether you buy the generic drug in Walmart or Kroger or CVS or Walgreen, it will have the same chemical composition. May be their manufacturing site might differ but all site has to go thru approval process to get the product out to the market. So it doesn’t matter where you buy but buying the right generic equivalent to brand name matters.

How to save on buying Generic brands?


Independent research has shown that total prescription drug expenditures in the United States only increased by 4.0% from 2006 to 2007, with total spending rising from $276 billion to $287 billion. This is a sharp decrease from the 8.9% growth rate observed in prescription drug expenditures in 2006. One factor cited as a reason for the slowdown is an increase in availability and use of generic drugs.

Generic drugs helps save tons of money and it is your choice to take advantage of the savings.  How? It is easy and simple. Here are some tips.


1. Many group and individual medical policies pay either full or 80% of the cost of generic drugs compared to only 25% on national brands. They support and encourage buying generic brands which saves them money as well. Also preordering 3months worth of supply in advance saves another 10% or more depending on the pharmacy service.

2. Buy generic over the counter medicines for headache, cough, fever etc., I save atleast $1 – $3 dollar on purchase of CVS or Walgreen generic over the counter medicines instead of brand names, sometimes even more when I get coupons.

3. Lastly, don’t fight over for a penny of savings on generic drugs. If the generic brand only saves a dollar or two compared to brand name and your partner prefers brand name, just let it go. Fighting is not worth it for the small amount of saving.

In conclusion, Generic drugs have become more popular these days and many people are starting to realize that they are safer than ever. It is always good to buy generic drugs which are safe and saves you money.

Some content source: fda.gov
Image courtesy: trustpharma.net