You don't know what a mentor has been through. Appreciate them while you can. In this day and age, having a mentor is crucial for one's personal and professional development. A mentor guides you by advising you, relaying their experiences, and providing options for the mentee's growth. And on the other hand, a mentee enacts the provided advice (within reason) and does what they can to avoid the mentor's mistakes and misgivings. One thing that many mentees overlook, however, is the actual collection of failed life experiences a mentor has gone through. A mentor has probably made some mistakes, most of which the mentee wasn't present to see. See, a mentor is happy to pay it forward because: It's personally enriching to impact someone else's life. It's naturally built in them to pay it forward. To some extent, they don't want others to experience what they've been through. This may (not) happen. The sweetness of providing first-hand insights is unbeatable; a mentor is primarily a "directly from the source" kind of person. What's interesting about a mentor's crucifixion is that a mentor could be going through something right now that you may (not) know about, and even if you do, don't know how to help. If you do, great, but if not, don't sweat it. It hits different knowing that your mentor is openly suffering and in the middle of something, and there is merely nothing you can do to help since, after all, you're inexperienced. The best thing you can do is to learn. What's even more valiant is their dedication to the relationship nonetheless and their commitment towards enacting your growth; that is not only commendable but also rare. As a mentee, here's what you can do: Take their advice seriously. If a mentor is still fulfilling their parental mandate despite their current ongoings, take their advice seriously because it comes from the heart. It also dictates their commitment to the relationship. Appreciate the time they have. Even 30 minutes with them is a bargain. Reassurance. Remind them that they're doing a splendid job in whatever they are doing. Remind them, especially about their positive impact on your life, and let them know that you appreciate their investment in the relationship. If you're religious, pray for them that they may willfully traverse whatever they're going through. Be the best mentee possible. That's how they know their energy in the relationship is paying off. To all the mentors around the world doing the most, thank you. Sincerely, . . . ~T.K.K

Generative AI trains you to ask the good questions. If you've avidly used ChatGPT and co the past year, you might have noticed something. Generative AI trains you to ask the good questions. No one does that for you; you must learn to ask the good questions to get what you want from GenAI. It explains the classical concept of GIGO - Garbage In, Garbage Out. What you give AI is what you get, so the quality of an answer you get from ChatGPT reflects the quality of the question received. This phenomenon explains the magic in the prompts; the more specific your prompts are, the more you get what you want out of them, and the converse holds true too. And this translates to real life - Asking the good questions: in class, at work, in your ventures, etc. "Asking the right questions is as important as answering them." ~Benoit Mandelbrot. Another testament to why AI won't take your job - someone who knows how to use AI will. Curious to hear your thoughts on this. . . . ~T.K.K

Central Bank Digital Currencies: what are they? What is a CBDC? A Central Bank Digital Currency is a digital replica of a country's currency issued by the central bank. Unlike cryptos, CBDCs have the government's backing because the government produces them and can be used for daily transactions. CBDC = Digital Fiat CBDCs combine traditional money with digital transactions. While they're still in their premature stages, they have the potential to revolutionize the entire monetary ecosystem alongside blockchain. Also, unlike cryptos, you can't trade a CBDC - it's not profitable; this would only be possible if and when the forex market starts entertaining multiple CBDCs across their exchanges. The CBDC's Purpose A CBDC's uses are similar to its paper counterpart: making payments, storing money (in a digital wallet), investing, and accessing government services. According to the White House, a US CBDC should: Boost economic growth Facilitate efficient and low-cost transitions Support the continued centrality of the U.S. within the international fiscal system and Foster greater access to the financial system for people across all economic spectrums and CBDCs also reduce the risk associated with cryptocurrencies simply because of the federal government's backing. They would also provide financial inclusivity to those without banking mechanisms, i.e., those still using money orders and mail. The CBDC Chronology The earliest sign of a CBDC dates back to 1974 when Swedish economist David Langefors proposed one. And while the concept of digital currencies has existed since then, digital currencies have rapidly generated steam in the last five years. And interestingly enough, more countries are developing them as others have already implemented them. By the numbers As of June 2023, there are over 100 countries actively conducting CBDC research. By June 2023, 130 countries (98% of the world's GDP) are exploring a CBDC - an uptick from May 2020 when only 35 countries were doing it. 79 countries are in an advanced exploration phase - developmental, pilot, or launch. 11 countries have a fully-fledged digital currency: The Bahamas, China, Nigeria, Jamaica, Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, Saint Vicent and the Grenadines, and Ukraine. What's the big deal if the U.S. launches a CBDC? Being the superpower that it is and holding the global reserve currency, the U.S. would bring considerable attention to the CBDC space if it digitizes the U.S. Dollar. Massive adoption - A U.S. CBDC would be monumental in the global adoption of other CBDCs since the U.S. commands the global economy. Interestingly, a US CBDC itself would be catalyzed by the emergence of the Digital Renminbi. Bank disintermediation - Just like blockchain, a U.S. CBDC would threaten the banks' role of money storage. As quoted from Crowdfund Insider, "Why hold your money at a bank when you can park it directly on the Fed's Balance Sheet?" The same applies to local and international banks where you store your money. Competition with cryptos. As 4% of 65+-year-olds openly adopt crypto, a U.S. CBDC provides a safer alternative for the majority of the same demographic who want to transact digitally but not through Bitcoin or Dogecoin. Crypto adoption. Adopting a U.S. CBDC would escalate global crypto adoption as both are digital coins, and the public wants various transaction choices. Pros and Cons Pros Improved security. CBDCs have cryptographic techniques that make hacking, penetrating, or counterfeiting much harder. This also reduces the risks of fraud thanks to preconceived security considerations. Financial inclusion. CBDCs can reach traditionally underbanked folks through digital wallets. For instance, 33% of the Nigerian population doesn't have a bank account. Reduced transaction costs. Like blockchain, CBDCs can reduce the costs associated with traditional payment methods, such as bank transfers, withdrawals, and credit card payments, while also eliminating the middleman in some cases. According to the World Bank, remittance costs are currently 6.20% per transaction. Economic Stimulus. CBDCs can catalyze the economy through rapid stimulus so that central banks can send funds quicker to citizens during financial crises like during COVID. Enhanced efficiency and payment speed. One can use CBDCs to make instant payments regardless of people's localities. This is a faster way to transact goods and services both locally and globally. One question that is not answered by the paper is what is the value of a CBDC, and does technology already exist that can capture the desired benefits now? ~Crowdfund Insider Cons Financial exclusion. Funny when you think about a pro being a con, but in this case, it may be out of reach for those without internet access or a mobile phone. Privacy concerns. In increased government surveillance, central banks would have access to your transaction data and spending courtesy of a CBDC. Cybersecurity risks. Because a CBDC is a digital currency, it opens yet another avenue for cyberwars and unethical hacking. Monetary policy balancing. The Central Bank must balance the CBDC supply and public demand to avoid economic disruption or monetary shock. CBDCs can offer extensive benefits as seen, but it's also best to assess their risks before considering further implementation. My thoughts I think CBDCs are a tech worth watching. It makes sense that governments all over are taking on digital payments and services - 'twas about time they joined the bandwagon. My only worry is privacy concerns; for instance, imagine the government continuously monitoring your bank account, watching it 24-7, and all the transactions that go through. Assuming you broke the law (please don't) or evaded taxes, you could incur a freeze on your accounts and assets. From a social standpoint, people might not fancy government surveillance over their finances, hence the switch to crypto, which the government is also trying to break into. I suppose there will be a lot of conflict in digital payment preferences, so probably the government would have to reassure its citizens of their respect and right to privacy over their finances. Additionally, cyberwars could evolve to become more creative. If they're stealing from banks right now, what's not to say they won't devise new ways to conquer CBDCs? Conversely, CBDCs could also ease some processes like taxes. I imagine that since the government has e-records of your income, they can then file your taxes for free without you having to do them or meet a tax professional, threatening the existence of some occupations. Also, this oversight would highly reduce money-related illegalities - if you know you acquired your money legally (e.g., not doing drugs, trafficking, etc.), then you have nothing to worry about. Exciting times and innovations today, but we'll see more moving forward. Conclusion CBDCs are revolutionizing how we see money and banking. From payment transactions to storing value, they are revolutionizing finance as we know it. It remains to be seen how widely CBDCs will be adopted globally. Striking the balance between convenience, privacy, and security is crucial to focus on during these assessment and implementation stages. Adopting CBDCs and digital currencies is essential for creating a more digitized world, and as with every new tech, we must proceed with caution and ensure it's implemented in a way that best serves humanity. Until then, there's a lot left to see about this space. References What Is a Central Bank Digital Currency (CBDC)? (investopedia.com) Technical Possibilities for a U.S. Central Bank Digital Currency | OSTP | The White House D-Cash - Eastern Caribbean Central Bank (eccb-centralbank.org) DCash launched as Digital currency and Legal Tender in the Caribbean – Citizenship by Investment Journal Central Bank Digital Currency Global Interoperability Principles | World Economic Forum (weforum.org) The Ascent of CBDCs (imf.org) Central Bank Digital Currency Tracker - Atlantic Council A Wide Range Of Outcomes: U.S. Federal Reserve Paper Researches Impact Of CBDCs On Financial System | Crowdfund Insider Central bank digital currencies for cross-border payments (bis.org) Adoption of Cryptocurrency in the U.S. (banklesstimes.com) What are Central bank digital currencies (CBDCs)? | World Economic Forum (weforum.org) The Rise of Central Bank Digital Currencies (CBDCs): Impacts on the Crypto Market (financemagnates.com) China Is Doubling Down on its Digital Currency - Foreign Policy Research Institute (fpri.org)

My Communication Greatly Improved What happened in the last month alone: Threads, Twitter's supposed killer, came to life. Meta saw 10 million users sign up in seven hours and 100 million in five days. (Read more here.) Elon challenged Mark after Musk freed the bird.s which I highly doubt will happen - Why would billionaires do this? Twitter changed to X after Musk freed the bird. Speaking of X, Elon knew all along. Up to you if you want to join Threads. Anyway, here's how I've grown over a month of consistent online writing: I communicate better I noticed that my communication improved in all three aspects: verbally, nonverbally, and written cues. I now communicate clearer and more succinctly. Improving my communication was (and still is) a big deal for me. I noticed that I sometimes lose my train of thought, which then translates into nonsensical words, and before I know it, I've spoken more than I need to, half of which makes zero sense. Les Brown would probably be proud of me. My main communication goal is to get my message across in as few words as possible while hammering home the main point - 'saying more with less,' if you may. While I still have a long way to go, I'm generally happy with the improvement. Any metrics to show for it? Not really...at least not for any hard numbers. The only metric is intrinsic; I know this because I've yearned for the feeling, always imagining how it feels when my communication improves. Extrinsically, I can tell from others when they understand my point - they mostly agree with me. Not to say that all my ideas are necessarily correct, but if I can clearly articulate my reasoning, others either agreeing or responding vindicates my articulation. Perhaps for some hard numbers, my coherence, flow of ideas, articulation, and even vocabulary have developed...if my Grammarly insights are anything to go by. I relate more to my role models I realized that from how I communicate, I resonate more with my role models because they, too, speak similarly. I admire the likes of Alex Hormozi, Ali Abdaal, Nicholas Cole, Vusi Thembekwayo, and Shade Zahrai et al., whose content I appreciate and how they articulate it. With how they are going with their lives, running their businesses, and communicating as they are, I believe I, too, am on the same path to success. Now for my take, which is a hot one, by the way. Hot Take: X > Threads After a month of exploring Threads and reliving Twitter (now X), there isn't much fundamental difference between them. In terms of their user interfaces (UIs), X still leads here, and for the obvious reasons: Twitter (or X) has 237.8 million daily users, whereas Threads' daily active user base fell 82% to eight million users using it daily. Twitter is best suited if you want to connect with a large audience. You can log into X on the desktop or the mobile app. Threads is still limited to an app. You can sign into X with an email, phone number, and Google or Apple account, but you can't sign into Threads without an Instagram account. X has many features and a subscription plan for more visibility. Threads has limited features and no subscription model - hashtags aren't even a thing yet. X has ads; Threads doesn't. This could go either way with personal preference, though advertisers and big brands would choose the former over the latter. X is a juggernaut in the instant-replying social media ecosystem, which motivated Threads to become a thing. Threads, however, started on hype which died down after two weeks. Again, optional on which platform you want to use. Conclusion I'm glad I'm back into online writing, courtesy of Threads, which also made me return to X. I think it will take a while before I return to Quora and Medium, but for whatever it's worth, the momentum is there. I currently don't have any expectations with my X-Threads writing - at least not for now - but I am optimistic that it will help build my brand online from the social media standpoint: that, and more personal improvement, as mentioned above. . . . ~T.K.K

Continuous Improvement: The Core Essence of the Japanese Kaizen Philosophy Kaizen Definition The Kaizen Philosophy, originally from Japan, highlights the importance of continuous improvement in all aspects of life by making small, incremental changes to achieve significant progress over time. Kaizen is the brainchild of Masaaki Imai (1930 - 2023), a Japanese management expert who believed that long-term success was possible through minor, constant improvements in all facets of life, including work, personal character, and organizational culture. Kaizen is also critical in the Toyota Production System, which explains the company's lean approach to continuous developments in its fleet production. Kaizen's primary focus is process improvement - analyzing each step in accomplishing a goal while identifying growth areas. It's the small tweaks that generate massive growth, vindicating Kaizen as a beacon of powerful transformation. "Success is the sum of small efforts, repeated day-in and day-out." ~Robert Collier Kaizen isn't all just about business - one can apply it anywhere, from personal productivity to business operations. Either way, long-term success is guaranteed. With a Kaizen mantra, problems are nothing more than opportunities for advancement, hence another embodiment of the growth mindset. Change is gradual, whether big or small, fast or slow. The underlying constant is to "always progress, never regress." Kaizen also emphasizes teamwork and collaboration in achieving a common goal, with everyone growing professionally and personally in the process. The small, incremental changes, whether in a group or out of it, create the most sustainable progress, helping you build momentum while sticking to the process. Principles of Kaizen Kaizen Mindset: Adopting a mindset that embraces change and growth. It is being proactive and open-minded towards improvements, regardless of scale. Continuous Improvement: Kaizen aims for ongoing enhancements in every area of life, from the workplace to personal development, fostering an environment of perpetual growth and innovation. Respect for People: Kaizen values every individual's contribution to the improvement process. It involves all employees, recognizes their insights, and empowers them to contribute to change. Standardization: Establishing standard processes helps measure the effectiveness of improvements and creates a foundation for further advancements. Elimination of Waste: Kaizen eliminates wasteful practices and processes, streamlining operations and optimizing resources. Examples of Kaizen Applications Kaizen in the workplace Identifying, automating, or streamlining repetitive tasks for efficiency purposes. Regular training and skill development to empower employees to adapt to evolving challenges and contribute to the improvement process. Kaizen is also a utilized competitive strategy in many successful companies today. If you do not improve and grow individually or as a company, you will eventually fall behind. Fostering a culture of constant adaptation, learning, and innovation to stay with the trends. Kaizen in your personal life Creating a weekly cleaning schedule at home to keep your place organized and tidy. Starting a budget to track your finances. Walking everyday for 30 minutes to improve your fitness. Learning a new language to engage with a new culture. Reading a few pages of a book daily to gain intellectual breadth. Meditating for five minutes to cultivate mindfulness and living in the present. Goal Setting: Breaking down large goals into smaller chunks and celebrating progress along the way. Mindful Reflection: Regularly reviewing your actions and outcomes to identify potential areas of improvement and adapt accordingly. It's all in the habits - adopting small, positive changes into our daily routines. How to apply Kaizen in any aspect of your life Identify a potential area of improvement. There will always be gaps in our lives - identify the ones worth filling. Break down the area into smaller, manageable tasks. Trying to achieve massive, instantaneous goals is severely unrealistic - break the goal into bite-sized tasks accomplishable in shorter timeframes. Plan on how to improve each task. Until the ultimate and most straightforward way to complete a task is reached, there is always a way to improve the process more efficiently. Execute your plan and track your progress. Once the plan is in place, execute, then mark your performance from the start, through midway, and to the finish. Adjust if needed. Depending on the scenario, make the necessary adjustments - it could be in your goal, timelines, or even methodologies. Benefits of Kaizen Improved productivity: Your input/output ratio improves, and you get more essential stuff done. Increased efficiency: You articulate processes better and achieve more with less effort and time. Enhanced product quality: You can better identify and correct defects in your products because you're constantly tweaking them. Increased customer satisfaction because they receive better products from the above. Improved morale: Employees feel like they own the improvement process, making them proud of their work and thus wanting to contribute more. “Never stop investing. Never stop improving. Never stop doing something new. Make it your goal to be better each and every day, in some small way.” ~Bob Parsons. Carerra's Take I like the Kaizen Philosophy a lot, and it was not until I recently learned its name that I realized I've been practicing it for a while now. My main Kaizen application was (and still is) in building Carerra's Chronicles - my thought wagon - and how I did it is as follows: I first analyzed the website and noted many things to be done - front-end design, layers, mobile outlook, etc. Next, I realistically concluded that the website couldn't be finished in weeks - it would probably take months at the worst case. Third, I divided the workload into small, workable bits, then attacked each every last hour of the day. Through these workable bits, I can tweak them in a never-ending, always-developing process. No sooner than later, the website that took me four years in school (which remained unfinished, by the way), I completed it in three months, an hour a day; astonished is an understatement. Now, I'm done with the website (for now), but not with Carerra's Chronicles. For starters, I'll keep writing stuff till infinity, so Kaizen will be dominant here. For instance, it's taken me five days to write this blog, and I split the work by days: Day 1 = Content Generation, Day 2 = Piecing & filling the gaps, and so on. Throughout the journey, there'll be ways to improve my writing, content delivery, efficiency, and other factors that will improve Carerra's Chronicles. There will definitely be ways to improve the process, so until then, I'll be doing the best I can progress; I discuss it more here. I'll continue applying Kaizen in my life, so you might as well consider me a Kaizen Philosopher already. Conclusion Kaizen is a beautiful philosophy that embodies the wisdom that greatness is achieved through continuous, incremental improvement. It's powerful for personal and professional growth, providing a rational and stoic approach towards achieving success. Individuals and organizations can progress significantly over time by continuously improving and collaborating to achieve common goals. Through Kaizen, people embrace change, value each other's contributions, and commit to lifelong learning and growth. Whether applied in the workplace or daily life, Kaizen creates a culture of excellence and innovation, plus lasting personal and professional transformation, thus being a guarantor of long-term success. If you want to improve your life, try Kaizen - you'll be in it for the long haul. . . . ~T.K.K

Bit by bit, and slowly by slowly, I'm headed somewhere...and I know it. So...I graduated from school, finally. And for all the right reasons, school was an impediment to my constructing Carerra's Chronicles. I'm now free-er than ever...for now. Still, I'm determined to build this thing. I'm currently adopting the Kaizen philosophy of continuous improvement via small, consistent, and incremental changes over a long time, thus motivating me to take this process slow by slow. I'm not creating something drastically huge or implementing humongous changes instantly...but rather fine-tuning stuff bit by bit. If it's the website, one small section per day. If it's a blog, one paragraph per day. Worst case: one edit, sentence, or idea per day. I noticed two things: The bits are stacking up. The best part is that it's all unconscious & 'behind-the-scenes' growth while I focus on what I can do. By the time I realize it, it's already a significant change. It's molding a subconscious habit. Since I'm well over my 21 days of cultivating a practice, it's now ingrained in me that I must tweak Carerra's Chronicles daily...and I've done this for four months now. From this habit, I've improved my skills repertoire of web development & design, writing, communication, and vision, among other skills. Slow progress > no progress. This is self-explanatory. When I work this way, time is on my side; it's only a matter of time until this blows up - compounding will play its bit in the meantime. I'm playing the long-term games - the infinite games. My goal isn't to win, but rather to keep building and inspiring people alongside me. That will get me ahead, God willing. Rome wasn't built in a day, but over decades. Similarly, I'm making my own Rome. I'm optimistic about how all this will turn out. While I don't know how long it will take, I'm ready to embrace the journey. What I know for a fact is that bit by bit will get me there...one day. Until then, I'll take it slow. And take it easy. . . . ~T.K.K

Tips for a Successful Loan Application Running the numbers Personal loans typically range from $1,000 to $50,000 or $500 to $100,000. Forbes Advisor recently surveyed 1,000 US consumers, revealing that more than 80% of Americans borrow less than $20,000. Subsequently, the most common reasons for taking a loan are debt consolidation (22%), covering living expenses (21%), and home improvement (20%.) A 2021 FDIC Survey on Unbanked and Underbanked Households unveiled that the number of households with personal loans had decreased from 10.8% in 2019 to 8.0% in 2021. Additionally, 72.5% of households in 2019 and 72.3% in 2021 had a personal loan. According to the Federal Reserve, the average interest rate for a 24-month personal loan was 11.48% in February 2023. Consumer Affairs states that the average rate on a personal loan is 10-32%. According to the Motley Fool, new borrowers take out an average of $6,656, while the average loan is $9,896. How exactly do you apply for a loan? Know your "Why?" Create a budget Scout for options Assess and compare your options Submit your application Receive your funds Pay it back 1. Know your "Why?" Why do you need a loan? It could be one of the following reasons: Covering an unexpected expense For a significant purchase - a house, car, etc. Starting a business. To fund your education (student loan.) Debt consolidation - using a larger debt to pay smaller debts. Betting against your investments - something rich people do. Miscellaneous - weddings, home improvements, medical bills, etc. Understanding your need for a loan is crucial to examining the rest of it. 2. Create a Budget After understanding your why, create a budget that evaluates how much you need and have a reasonable (over)estimate for unexpected costs. You'll also want to mind your debt-to-income (DTI) ratio to determine if you have enough cash flow to sustain new debt. Typically, a DTI of 30-36% is feasible; anything less is much better. Rule of Thumb: Round each cost to the next $100 and hike your budget by 20-30%; any surplus would be the first instalment towards repaying the debt. 3. Scout for options Search for different lenders whose options match your needs by inputting relevant info such as your name, address, and income. Lender-searching is now possible through some one-size-fits-all websites that do the weightlifting for you - Bankrate, Experian, Forbes Advisor, and Credit Karma. Just input your basic info, and they'll shortlist your options. Factors to consider when searching for a loan Loan Purpose: As explained in "Knowing your Why," consider why you're applying for the loan and gather the lenders specific to your need: the more specific the lenders, the more your options. Interest Rates: It's important to compare interest rates from different lenders and understand the terms associated with each loan. Defining each term below: i) Interest: Percentage of a loan you'll pay as a fee for borrowing that money. ii) Annual Percentage Rate (APR): The total cost of borrowing money, including interest and fees, expressed as a percentage of the total loan cost. Lenders MUST disclose their APRs on their websites as part of the Truth in Lending Act (TILA) that discloses their interest rates as APRs. Rule of Thumb: Always consider the APR; it's greater than the interest rate. Fees: Be mindful of additional fees as listed below: i) Origination Fee: A one-time fee for initiating the loan, usually 1-8% of the loan amount and deducted from it. ii) Prepayment Fee: This is a penalty you'd pay if you pay off a loan too soon. Lenders do this mainly to compensate for the lost interest they would have earned from the loan's entirety; good thing most of them don't do this. iii) Late Payment Fee: Self-explanatory. Usually 1% of the monthly payment or $15, whichever is greater. iv) Returned Payment Fee: A fee charged if a scheduled payment is cancelled because you don't have funds in your bank account. This fee covers the cost of processing the already-cancelled monthly payment. Note: Interest Rates + Fees = Total cost of the loan. Evaluating this cost will help you rate its affordability. Loan Amount: AKA the Principal. Chances are that you won't get the exact amount you want because of origination fees, so borrow a little bit more to cover that cost. Repayment Terms: A term is how long the loan lasts. Also called the period, it's how long you'll take to pay off the loan. Terms vary in 12-month cycles and can go for 12 - 84, lender-dependent. Each term has its monthly instalment, so choose the one that makes sense for you and fits your budget. Note: Terms and APRs are directly proportional. The longer the term, the higher the APR..and vice versa. Rule of Thumb: Lenders have different loans with different APRs at different monthly payments lasting different terms. Credit Score: You'll need a decent credit score to apply for a loan. Most lenders will consider a fair score of 630 - 689, with others looking at an excellent score of 690. According to Nerdwallet, the typical minimum credit score to apply for a personal loan is 560-660. Lenders will scrutinize all ends of your credit score (amount of credit, number of accounts, credit history, etc.) to determine your creditworthiness. Thus, the higher your credit score, the better your approval odds and the lesser your interest. Review your credit report for accuracy beforehand, improve it if needed, and apply for your loan. Lender Reputation and Customer Service: Know your lender before selecting one; read their reviews, analyze their reputation plus customer satisfaction, and gauge their reliability. Considering their customer service standards is vital, as fast and responsive support can ease the loan process. All in all, a reputable lender with excellent customer service guarantees a smooth borrowing experience. Flexibility: A minor consideration but still pivotal, a loan's flexibility can help you make extra or deferred payments, especially during unforeseen events. Prequalification: See below. Depending on how fast you need the cash, the approval and disbursement times can be another decider, and though uncommon, autopay discounts are another. 4. Assess and compare your options You'll receive multiple options from several lenders depending on your qualifications. Comparing loans among lenders helps you evaluate your choices and determine which fits you best. You'll compare the above-listed factors to choose your preference. Prequalifying An ideal way to check if you qualify is by prequalifying - seeing if you qualify for particular loans. Just like you know when the food is ready by tasting it, you know you're eligible for a loan by prequalifying for one. ("Tasting" the loan.) Prequalifying calculates your loan options, terms, and providers. This way, you decide which lender best suits your needs, the principal you can access, and interest rates, among other factors. The best thing is that prequalifying doesn't hurt your credit score. Note: Most lenders prequalify their applicants - a difference-maker that filters out those that don't. Prequalifying helps for three reasons: The lender soft-checks your credit to determine eligibility without implicating your credit score. From a soft credit check, you'll know where to improve your credit - amount of credit, history, accounts opened, etc. A lender that does not prequalify will automatically hard-inquire your credit, denting your credit score, with zero approval guarantees; nothing to gain and everything to lose. 5. Submit your application After comparing your offers and settling on the most appealing one, finalize and submit your application, ensuring all your info is correct. Sometimes lenders might ask you to clarify some information or request additional documents, so ready yourself for that. After applying, the lender will perform a hard credit check which will temporarily dink your credit score, regardless of whether they approve or deny your application. Depending on the lender, you'll get your decision within seconds, minutes, or days. Review the loan agreement The loan agreement can come immediately before you apply or after they approve you, and it's one that you'll sign electronically. It basically spells out, "This is what you're getting yourself into with this loan." The agreement details your APR, loan term, instalments, penalties, and other information. Upon agreeing, hit "submit." 6. Receive your funds Once approved (hopefully), you should receive your funds on your lender's stipulated timeline. Approvals range from minutes to hours to days, while disbursements occur within minutes to 24-72 hours after approval. Ideally, direct deposit is the best way to receive your funds once disbursed, so set that up in advance. If you're not in a rush, mailing a check is another option, though slow and unsafe. 7. Pay it back Lastly is to pay back the loan as set in the agreement. You can do this either through instalments or lump sums. If you have any loan surplus, use that to start paying it off, and also depending on how long the loan is, include your payments in your monthly budget. Recall the APR and other fees - they come into play here. About the APR, you must pay off the loan ASAP before interest accrues on your account. About the fees, while most lenders don't have prepayment fees, they might have origination, administration, and late fees, all of which you pay in your adjusted APR. Automating your payments immensely helps; you always pay on time (racking up your credit score) and might qualify for autopay discounts, lender-dependent. Carerra's Take Personally, I'm not a fan of getting into debt in any shape, form, or manner, but times happen when the inevitable happens and getting into debt is a reasonable choice. Plus, there's good debt and bad debt. Maybe you're moving across the country for a job relocation. Perhaps something tragic happened that your emergency savings aren't enough for. Perchance, you need a short-term student loan to finish your degree. Whatever you need the debt for, ensure it's for a sensible reason. Have a straight budget, plan to pay it back ASAP, and the rest will work out. And, of course, not financial advice - do your due diligence and consult an expert for a personalized solution. All the best, . . . ~T.K.K References How to Get a Loan from the Bank in 5 Steps - NerdWallet How To Get A Personal Loan In 8 Steps | Bankrate Personal Loan Calculator: Estimate Your Payments – Forbes Advisor 5 Personal Loan Requirements And How To Qualify – Forbes Advisor Best Moving And Relocation Loans of 2023 – Forbes Advisor How to Get a Personal Loan in 6 Steps - NerdWallet

Some deep secrets about life… Purpose At almost every stage of life, we’re constantly finding something greater than ourselves. It could be either pursuing a meaningful career or excelling in personal relationships, and funnily enough, no two people’s purposes are similar. Until when we strike our graves, life is a continuous journey of refining and rediscovering our purpose. Mortality Despite our brain’s wiring to think that we are immortal, the reality is the opposite. At some point in our lives, we constantly contemplate “the other side.” But, until then, it’s our temporary existence on planet Earth that reminds us to enjoy the present more and cherish the moments with our dear ones before they, too, expire. Interconnectedness We are more connected to the greater universe than we think; from the ecosystem to animals and finally to humans, the cycle continues. Understanding this can breed empathy and more understanding of one another and the entire universe. Free Will How much are we free to do what we want? How much is too free? How much freedom is harmful? Will my “freedom” hurt others, myself, or both? Finding the balance in between is vital…and hence our decision-making ripens. Gratitude and Positivity It’s easy to wrap ourselves in negative self-talk and overwhelm ourselves with challenges. It happens; we’re human. Focusing on what we’re grateful for and harnessing positivity can transform our lives and create a sense of peace and inner tranquility. Connection and Community Naturally, we’re social beings, and our relationships with others are fundamental to our well-being. Whether spending time with family and loved ones or connecting with like-minded individuals, strong relationships are vital to living a fulfilling life. . . . ~T.K.K

A Q&A would be a good way to get me started on an intro: What's your main life philosophy? I'd say...doing my best in the best way I can in everything that I do, living a life as per the Will of God. Something I would change about myself more spiritually and emotionally? Being in the moment. It’s easy to become too future-oriented too soon that you miss out on the little things happening now and the people that matter to you. It’s best to have a balance of such. Introvert or extrovert? Intro. Favorite pastime as a child? I enjoyed creating dominos from videotapes stacked alongside each other - hitting one end with a ball, and the rest follows. That experience had me considering a career in Physics - the good old days (chuckles.) Is what you’re doing now what you always wanted to do growing up? If not, then what did you always dream of doing as a child? Apparently not. As a child, I dreamt of being a pilot (as almost every child does), but that was only for two months. Then again, high school showed me that Geography and I were a mismatch. I then wanted to be a doctor, but that also lasted two months; I mean, the sight of blood doesn’t quite sit well with me. What's your favorite book of all time? The Rising by Ryan D'Agostino. Covering the life of Bill Petit - a man who had it all going well for him in life -, the book teaches about the resilience of the human soul despite the deepest of transgressions faced. Bill faced a life-changing moment that nearly killed him, only for him to resurface as a completely transformed human being trying to make sense of how he strengthened his soul from a crushing ordeal. The Rising is a must-read for all. I'm proud of how original and authentic I remain in all circumstances. I don't fold to the rest just because, but instead, I can always stay true to myself no matter what. Favorite movie? Disney Pixar Soul. It made me rethink life. Favorite artist? Damma Beatz. He's not your typical DJ, but rather one who makes awesome beats without necessarily needing credit. He's one of those DJs mainstream trap fans find underrated, but I think that helps because that's more masterpieces for me. :) When, to you, is a person ready for marriage? Good question; I recently asked my parents this question. I believe that a couple is ready for matrimony when their values coincide - they shouldn't compromise their own value systems but rather complement each other. I also consider getting their houses in order first, figuring out all other aspects of their lives first - their careers, finances, and other priorities - then marriage is a feasible next option. What are you most thankful for? The gift of life and just living in it. I'm also grateful for the wins and lessons accomplished in between. The wins reflect how far I've achieved and grown as a person, and the Ls show me my gaps in growth, encouraging me to learn and develop myself more. What are some hobbies you like to do when you’re alone? I'm one to play Chess and the piano. I'm also reading the latest financial articles on the stock market and the state of the economy and also listening to some motivational and personal development podcasts. Physically, I play a lot of football (what Americans call soccer.) What's one thing people misunderstand about you? People generally mistake me for a rich person because I can afford most of the stuff I want. Though flattered by that, I'm not rich (yet); I'm just another commoner hustling to get the next dollar. :) What would your one-sentence biography sound like? Here's my LinkedIn headline: || Founder & CEO, Carerra's Chronicles | Business Analyst @ BNY Mellon | B.A. Mathematics, University of Washington, 2022 | The GOAT of NSBE | Takeoff Institute Fellow, Summer 2022 | Leader, Visionary, Optimist, Son of God. || What would you say are you most proud of as well? I'd say that I'm proud of how original and authentic I remain in all circumstances. I don't fold to the rest just because, but instead, I can always stay true to myself no matter what. Part 2 is coming soon.

Some more trivia about me: What do you think about when you're by yourself? I think of the next thing on my to-do list for the day; I'm that productive. Other times, I'm contemplating my future, imagining my life a year from now, in five, or even a decade. I'm also constantly thinking about growing Carerra's Chronicles. Do you go to college? If so, what's your major? Was it the same from the start, or did you change your mind? Yep, I do go to college. (Edit: I just graduated.) I started with an Associates in Computer Science at Highline College, graduating in 2020. I then transferred to the University of Washington, Seattle, WA, to complete my Bachelors in Mathematics, expected graduation in 2022, God willing. About the switch, I got midway through my CS degree when I realized that Java wasn't my thing (yet), so I pivoted to Math. Math was my favorite subject in college and high school, and it still relates to Computer Science in numerous ways. Furthermore, Math is overarching - it's literally everywhere - so I could do whatever I wanted with it post-graduation. Thus, it was a no-brainer to select it. What's been your biggest mistake so far in life, and what did you learn from it? My biggest mistake has been people-pleasing, naivety, and not being assertive when I needed it the most. To some extent, I cared about others' perceptions over mine. I did learn a few things, though. First, whether you do good or bad, people will still have an opinion of you regardless. Some could be favorable, others...not so much, hence they are opinions for a reason. Secondly, life is limited, so it's better spent pursuing your interests instead of those enforced by others upon you. "Don't give up. You're going places. Hang in there, buddy, because I've got you." A favorite place you'd love to go to? Venice, Italy. I love their canals. :) What qualities do you admire about your parents? Collectively, I love that my parents are pretty loving of me no matter what stage of life I'm in. Individually, my mum is impactful, affirmative, and action-oriented, while my dad is intellectual, knowledgeable, and thoughtful. I love them abundantly. Mum, Dad, God bless you both. Describe your childhood best friend(s). Peter and Alex- shoutout to wherever you are for being genuine Gs during primary school. I also owe one to Gadson - eight-plus years of friendship. What's your biggest pet peeve? Self-entitlement. The galaxy revolves around no one. What three things do you value most about a person? I value their authenticity, life goals, and character when meeting a person. If you could live anywhere in the world, where would it be? Probably Manhattan-NY, Seattle-WA, or Bali-Indonesia. What's your favorite beer? No bebo cerveza. (Spanish: I don't drink.) What's one thing about the world that bothers you today? International wars; I don't understand how wars will prove a point in the 21st century anyway. What's something you would tell your former self? "Don't give up. You're going places. Hang in there, buddy, because I've got you." Part 3 loading.

What's your favorite clothing brand? Not that I care about them much, but perhaps J Ferrar, Meijiana, and Nike. Your favorite subject in school? Math and Physics. Dogs or cats? Cats. What's one thing you'd do if you had $1,000,000? I'd divide it accordingly, depending on my situation. $200,000 would go into the stock market - some index funds, ETFs, and dividend stocks - and Ethereum. I'd reinvest $10,000 into my business and some $50,000-$100,000 for my mortgage. I'd then retire my dad with $100,000 and save the rest for proper future use. What are some goals you have for the next five years? Entrepreneurship, growing my business, financial freedom, working at a big tech at Microsoft, Google, or Apple - and perhaps a master's degree. Were your parents too strict with you? I wouldn't say so; they were okay. My parents were easy-going in their raising of me and did their best. Still, they could pinpoint where and why I went wrong, so I learned. Looking back, their parenting paid off. Just keep doing your best and keep doing you. When you look back, you'll be surprised by how much you've evolved and who you've become. Favorite gemstone? Diamond. Thing's priceless and far more valuable than gold. If you believe in reincarnation, who or what would you want to be in the other life? An angel. What's your daily mantra- something that keeps you going? Just keep doing your best and keep doing you. When you look back, you'll be surprised by how much you've evolved and who you've become. How do you wish to be remembered? I want people to remember me as someone who did his best, gave his all, and had a lasting impact wherever he stepped. I want to be recognized as one who willingly performed God's will. Lastly, what's a quote you like? I recently read this line from one of Carl Sagan's videos, and I found it quite comforting: "To live in the hearts of others is to never die in those we leave behind."

In my last college quarter, my Math instructor said something that would dumbfound me for the rest of my life. "When things get too complicated, revert to the First Principles." ~Sara Billey, P.hD. That was eye-opening for me, considering it was the first time I heard of "First Principles." Mastering the basics of something, whether beginner or total expert, is crucial to understanding the whole concept, and that's what the 101 Series is for - taking you back to the basics, to the first principles. The 101 Series will uncover everything from the ground up, starting with the fundamentals to the nuanced understanding straight after. My goal will be to clearly and understandably explain the topics without omitting the key details, and I'll achieve that through simplicity, rationality, and observing the facts. "The beginning is the most important of the work." ~Aristotle And there's only one way to find out. . . . ~T.K.K