21 Money Tips From Harry Potter

I took a break from my break to pass along this article from WiseBread I came across about money tips from Harry Potter...Yes THAT Harry Potter.



Many of these tips, actually most, I have written about and pass along to my clients...now I pass them onto you:

1. Money Doesn’t Buy Happiness...
Some of the most miserable people in the book — the Malfoys — are the richest. And some of the poorest — the Weasleys — are the happiest.

2. ...But It Sure Can Help
Harry is able to escape some of the miseries of his summers at the Dursleys with money from his inheritance, and Ron, who frequently laments being poor and wearing hand-me-downs, is happier when he has new items.

3. Earn Extra Money on the Side
Fred and George work to make some extra money before going into business for themselves. Ron says in book four, “I don’t blame Fred and George from trying to make some extra money. Wish I could.” What Ron doesn't realize is that anyone can earn more money with a side business.

4. If Something Seems Too Good to be True, It Probably Is
At the Quidditch Cup, gold rained down on everyone in the stadium. The crowd got extremely excited and started gathering up the coins. Unfortunately, it was Leprechaun gold, which disappeared shortly after. Next time money seems to be falling into your lap, remember the Leprechaun gold.

5. Time Is Money
After apparating down the stairs (to save 30 seconds from walking down them), Fred says to Ron, “Time is Galleons, little brother.” While apparating to save a few seconds is a little extreme, this shows the need to be conscious of our time.

6. Don't Steal; You'll Get Caught
Mundungus, one of the original members of the Order of the Phoenix, has a bit of a theft problem. In book five he brings stolen cauldrons to the safe house and gets caught. Mrs. Weasley shouts at the top of her lungs, “We are not running a hideout for stolen goods…As if we haven’t got enough to worry about without you dragging stolen cauldrons into the house.”

7. Being Obsessed With Money Can Be Bad and Lead to Trouble
When Fred and George are first trying to get their magic shop started as a mail-order business, Ron comments, “They’re obsessed with making money lately…” Ron then begins to suspect them of blackmail and breaking school rules in order to get money because he doesn't realize exactly what they are doing. Similarly, when people in our lives become consumed by dollars and cents, we often suspect the worst.

8. Money Makes People Take Unnecessary Risks
In book four, the award for winning the Triwizard Tournament is 1,000 Galleons. Students start taking unnecessary risks to enter their names into the fire. For example, Fred and George try to cross the Age Line, which prevents students under the age of 17 from entering their names in the Goblet of Fire, and they are thrown backwards and immediately start growing long white beards (which Madame Pomfrey has to fix).

9. Good People Don’t Want Money That Doesn't Belong to Them
After Cedric dies in the Triwizard Tournament and Harry wins the 1,000 Galleons, he tries to give it the sock of gold to Cedric’s family. He says, “You take this...It should’ve been Cedric’s,” but Mrs. Diggory backs away and refuses. Mrs. Diggory doesn't feel that the money belongs to her, and she likely doesn't want the reminder of her dead son.

10. Don’t Gamble; You’ll Lose Even When You Win
Fred and George bet with Ludo Bagman, a wizard with the Department of Magical Games and Sports, that Ireland would win the Quidditch World Cup but Krum would get the snitch. They won, but Bagman never paid them back. He said they were too young to gamble, and Fred and George lost everything.

11. Don’t Borrow Money for Gambling, Especially From Goblins
Ludo Bagman borrowed gold from the goblins in order to gamble. He had to run from the goblins because he wasn’t able to pay them back. While we don't have goblins in real life, borrowing money from anyone to gamble is a bad idea. Perhaps goblins can be equated to a credit card company — if you borrow money and don't repay it, they will always find you, and the consequences won't be pretty.

12. People Can Be Resentful If You Try to Secretly Help Them
Harry buys Hermione and Ron omnioculars at the Quidditch Cup. Ron repays Harry with Leprechaun gold, which later disappears, but Ron doesn't realize it. Rather than tell Ron that he didn't actually pay him back, Harry lets it slide. But later, Ron finds out and is resentful of Harry's generosity: “Why didn’t you tell me about the gold?...Why didn’t you tell me it disappeared…I thought I was paying you back.” Like Ron, many people can be resentful of generosity when it reminds them of how little they have. The best approach when you are generous with your time or money is to be upfront about what you're doing without showing it off.

13. Depending on the Time and Situation, Money Matters to Some People More Than Others
Harry and Ron have a conversation about Ron’s repayment of Leprechaun gold and Harry says. “I never noticed [the gold] had gone. I was more worried about my wand, wasn’t I.” Ron replies “Must be nice…to have so much money you don’t notice if a pocketful of Galleons goes missing.”

In your own life, recognize to what extent you value and need money right now. While direct comparisons to other people's finances are rarely helpful, keeping a larger perspective will help you understand where you and others are coming from for anything finance related. (Considering how much money matters to others can come in handy with something as simple as splitting a dinner bill with friends — money likely matters more to your friend who just lost his job, and being aware of this can prevent misunderstandings and hurt feelings.)

14. Hard Work Leads to Success, and Success Gets Rewarded
After working hard and showing leadership during his first four years at Hogwarts, Ron was selected to be a Prefect. In recognition of this, Fred and George bought Ron new robes, and Mrs. Weasley bought him a new broomstick.

15. Giving Generously May Help You Later
“Malfoy’s been giving generously to all sorts of things for years…Gets him in with the right people...then he can ask favors…delay laws he doesn’t want passed...Oh, he’s very well connected, Lucius Malfoy….”

Lucius Malfoy gives to the Ministry to influence things in his favor. While this sort of lobbying is generally frowned upon, the truth is that it works. So give to causes and people you support, as it may help you in the future.

16. A Little Luck Never Hurts
Before entering his hearing in book five, Harry came upon a little fountain. He turned “his money bag upside down and emptied not just ten Galleons, but the whole contents into the pool at the statue’s feet.” Some may see this as showing how money can be needlessly wasted, but to me it shows that even amazing people are superstitious and need some luck sometimes. In the toughest situations, we can all use all the luck we can get.

17. Free Stuff Is the Best Promotion
In their ultimate last act before leaving the school, George and Fred turn Headmistress’ Umbridge’s Hogwarts into a disaster by setting off fireworks that multiply. Everyone comments on what amazing fireworks they are. The twins use up their entire stash in order to pull the prank, which drums up business. “It was worth it,” said Fred, who was taking orders from clamoring Gryffindors.

18. Keep Your Money in a Safe Place
Gringott’s Wizarding Bank, where all the Harry Potter characters bank, is the safest place on the planet since it’s protected by goblins. In real life, keep your money in an FDIC insured bank account.

19. Do What You Love and the Money Will Follow
Fred and George love playing pranks. By the end of the Harry Potter series, the twins are no longer just selling their products around school, but they've launched their own extremely successful business, Weasleys' Wizard Wheezes, based on that love.

20. Get a Good Education...
The Harry Potter series follows students throughout their years at Hogwarts and continually emphasizes the benefits of getting a good education.

21. ...But Don’t Be Afraid to Leave School If It’s Not for You
In the final books of the series, several characters leave the school because it wasn’t right for them at that point in their journeys. Fred and George quit school as do Harry, Hermione, and Ron. While some parents and professors are disappointed, in the end we discover that this really was the best decision for everyone.

What do you think of these tips?

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Making a Big Impact!

By Azam Zaheerulhaq, Year 1, Diploma in Mass Media Management

The SBM Club family

A few hundred freshmen turned up all smiles on 13^th June, eagerly chatting and anticipating the activities at Camp Impact, an annual freshmen orientation camp organised by School of Business Management (SBM) Club.

We had a mass ice-breaker game at the start before we split up into groups to design group flags and learn various cheers. By then, the sense of camaraderie amongst the campers was very evident. Towards the evening, we were led to our bunks, went for a quick shower and gathered at the Sky Garden at the top floor of Block D for a sumptuous dinner.

Campers digging in to the scrumptious dinner

After dinner, the campers sat through Shutter, a Thai horror movie before embarking on their night walk around campus. We were caught unaware when facilitators, stationed at different areas, jumped out of bushes and from behind pillars to unwary campers!

“Everyone should go for camps whenever they get the chance, because you’ll make such good friends. And they’re the ones who’ll make your Poly life more colourful and lively,” said Sukhvinder Singh, Camp Impact attendee and 1st Year Business Management student.

The best part of the camp was the Amazing Race, which was held on the second day. We had to scale various landmarks across Singapore searching for clues and racing against time. Despite having had less than 4 hours of sleep, campers and facilitators alike were enthusiastic and rushing to and fro! We were all trying to beat the other groups.

We all got drenched during our last day! That is because we were pitted against one another in the ultimate test of skill and stamina and had to roll in mud pits, bury our faces in flour and had water splashed on us during our mad dash for the finish line.

“I’ll never look at paint and flour the same way again!” - Vignesh Kumar, Camp Impact attendee

Emotions ran high as the camp drew to a close. Many campers could be seen hugging one another, tears welling in their eyes.

“I can’t believe how much I hated camp in the beginning, now all I want is to go back in time and enjoy every moment,” said Sukhvinder. “They say the only unsinkable ship is friendship, now I truly know what it means.”

Ponder This...

The only reason a great many American families don't own an elephant is that they have never been offered an elephant for a dollar down and easy weekly payments. ~Mad Magazine

Monday's Entrepreneur: Ramit Sethi

Every Monday, we, at PF4P like to start the week off on a positive note, so I try to bring you stories of people like you and I who have turned a passion or skill into something we all may use or at least heard of.

Today, we bring to you Ramit Sethi. Ramit runs I Will Teach You To Be Rich. His ideas on personal finance are a bit different from most, well really different. He focuses more on earning more than subtracting things from your life. He gives tips on how to negotiate more income, start a business, how to turn free time and hobbies into extra income.

Honestly, I havn't been reading the emails I get from him, but the past couple have peaked my interested, so I am going to pay more attention and try to use his techniques in my life.

A Passion for Triathlons

By Ho Khin Wai, 1st Year, Diploma in Banking &; Financial Services

Mention the word “Triathlon” and his face would light up immediately.

First-year Banking and Financial Services student, Gael Woon, may seem just like a normal student, but during his free time, he spends more than 10 hours a week training for triathlons!
The avid triathlete has not only participated in sports events in Singapore, but also overseas, winning 1^st place in Temasek Club’s Mini Swim & Run Biathlon in 2008, 2^nd place in the Tribob Singapore Spring Series Youth Aquathlon, and 3^rd place(Freshmen) in the TriFactor Triathlon in 2009 & 2010. He has even represented Singapore in the Asian Cup Triathlons in Thailand and The Philippines.

Gael competing in Thailand

We caught up with Gael and asked him a few questions…

What got you started?
When I was young, I was terribly afraid of the water. My parents then enrolled me in swimming lessons to manage this problem. Over time, my phobia was curbed and I developed an increasing fondness for swimming. I started trying out for swimming competitions but never got into the finals. I felt like I have lost all hope for sports, until a good friend of mine asked me to try out for triathlons.

At my very first competition, I won third in position! I was so happy and decided to continue participating in triathlons.

What were your challenges, and how did you manage to overcome it?

Crossing the finish line

Hmm… Being a triathlete is tough. You have to be very motivated and have very strong mental strength as well as physical strength. I didn’t have very much of either before I joined the sport. You just have to believe in yourself and keep on building your endurance and physical strength.

How much time do you spend training per week?
For formal trainings, 14 hours per week.

What is the best advice you could give to youths/students who are interested?

You should have a good swimming and cycling background before you join any triathlon events. You also have to have the resilience and patience, as you will need good discipline and perseverance before you can win an award. Of course, this applies to any kind of sport as well. You must also be prepared to sacrifice much of your time, and drop activities like computer games and going out with friends and family. It’s also best if you are financially stable, as the equipment (bikes, biking gear, running shoes, etc.) can cost a bomb. Last, but not least, you have to be goal-oriented if you want to win in triathlon competitions, as it can get very competitive.

What motivates you as a triathlete?
Well… First of all, I do what I love, and I love what I’m doing, which explains my passion for being in triathlons. Secondly, I set goals for myself and that pushes me to meet them. Every medal or award I won gives me a sense of accomplishment, and that spurs me on to participate in more triathlons.
It’s like an addiction, you know? (laughs)

Gale (fourth from left) getting ready for the bicyling segment of a triathlon

As a triathlete, you must have a very intense schedule. How do you juggle your studies and sports activities?
That is true. Because of my being in triathlons, I have very little time left to my studies, friends and family. Hence, I have learnt to manage my time well so that none of them are neglected. I usually study beforehand, so that I know what’s going on during lectures, especially when I have to miss lectures due to competitions. For example, while I’m travelling to school, I’ll take that time to read my lecture notes and revise past lectures.

If there were more than 24 hours in a day, where would you devote that extra time to?
I’d say…more time for my friends and family. I really neglected them a lot because of my training. But other than that, I would want to keep striving for more awards and hopefully, be one of the best triathletes in the world.

Ponder This...

It is an unfortunate human failing that a full pocketbook often groans more loudly than an empty stomach. ~Franklin Delano Roosevelt

Talents@NAA Grand Finale

By Ho Khin Wai, First Year Diploma in Banking & Financial Services

(Left to right) NYP finalists Choo Xia Meng, Alex Shieh Jun Fa and Chon Hui Li

Excitement is in the air, as one student and two alumnus from NYP gear up for their one-minute “live” pitch in the hope to win ‘Talents@NAA 2011’, an event organised by the Ngee Ann – Adelaide Education Centre. ‘Talents@NAA’ is an island-wide talent search for polytechnic students who have the passion and aspirations to make a difference in their interested fields of study. The winner of the competition will be presented the grand prize of $3,000 study grant (or $1,500 cash).

After two rounds of nominations, three finalists remain for NYP.

They are:

Chon Hui Li, who just graduated with a Diploma in Hospitality and Tourism Management, and is now in NAA pursuing a Bachelor of Commerce (Marketing).

Choo Xia Meng, a Year 2 student in NYP currently pursuing a Diploma in Chemical & Green Technology.

Alex Shieh Jun Fa, who was from the pioneer batch of the Diploma in Media Studies (now known as Diploma in Mass Media Management). Alex, who graduated in 2007, joined the NYP’s Chinese Orchestra (NYPCO) in 2004 and helped grow the CCA from a handful of members to what it is today- an orchestra with a strong cohort who are able to go on competitions and win awards for NYP.

Alex answering questions after his pitch

Here, they had to do a one-minute, on-the-spot “live” pitch on a given topic.

The Grand Finale was held at *Scape, Warehouse on Saturday, 11 June 2011. The atmosphere in the auditorium did not seem too intense. Pop music filled the hall and people were slowly streaming in. However, it was a different feeling backstage. I went to check our NYP finalists out and here is what they have to say…

“Excited, but definitely nervous!” exclaimed Hui Li.

“I just hope all my friends here today will enjoy the show.” said Alex.

Alex explained that he was encouraged by Student Affairs Officer to take part. “And since NYP had given me a lot of opportunities to grow in the past few years, I thought this is a good way to give back to NYP,” he added.

Next, I asked them the contents of their essays: which they produced during the semi-finalist round.

Said Xia Meng, “I want to be an environmentalist in the future. I also want to encourage others to follow my path and help the environment. In my essay, I talked about how I plan to educate youths to be “green ambassadors”. For example, I wrote that I would make more money to set up a workshop specially to educate teens about it.”

“Why do you think you deserve to win?” was the next question I posed to them.

“There is meaning to my passions and aspirations. If I win the grand prize tonight, I would one step closer in reaching my goals to educate youths on the environment.” said Xia Meng.

“I want to do the school proud by winning the grand prize. NYP has nurtured me to be a confident, outspoken and dynamic individual. Without NYP, I wouldn’t be able to get this far.” said Alex.

I then spoke to the judges, Ms Christine Sim, General Manager of LINKS Recruitment Singapore and Mr Aaron Lim, Director of Intune Music School on what they think about the contestants.

Do you feel the finalists have what it takes to meet your expectations?
We’ve seen their essays and we feel these are very real actualizations for their aspirations. Many of them are very clear and authentic. We’re really impressed with the variety of experiences they had.

Do you think the contestants should only focus on winning? What do you want them to get from the event?

They should aim to win, of course. But besides that, the valuable experiences that they had here and the friends that they make are equally important. This is truly a journey of self-discovery.

At 7.00pm, they presented their pitches. Our NYP students were really impressive!

Hui Li, Alex, and Xia Meng, after the results were announced

Alex won the grand prize of $1,500 cash, which he planned to use to have Father’s Day dinner with his family and give a treat to his supporters. The remaining amount would be used to nurture and expose more youths to the arts scene in Singapore.

In addition, Alex also won the Best Video Award (sponsored by Wawa Pictures), and our recent graduate Tan Chui Choon won the Best Essay Award (Sponsored by Pilot).

Congratulations to our three finalists for a job well done!

Photo credit: NAA and Tay Wan Lin from Klix Photography, m:idea.

Photo credit: NAA and Tay Wan Lin from Klix Photography, m:idea.

Photo credit: NAA and Tay Wan Lin from Klix Photography, m:idea.

Monday's Entrepreneur: Suze Orman

Every Monday, we, at PF4P like to start the week off on a positive note, so I try to bring you stories of people like you and I who have turned a passion or skill into something we all may use or at least heard of.

Today, we bring to you Suze Orman. She's one of my favorite financial people. She tells it like it is, gives great advice, and explains things so the average person can understand. I love her, basically!

Catch her show on CNBC @ 9pm on Saturdays and visit her website.

Ponder This...

Inflation hasn't ruined everything. A dime can still be used as a screwdriver. ~Quoted in P.S. I Love You

My Favorite Financial Things: UPromise/E-Rewards

It’s a two for today…

I have been a member of UPromise for about 3 years now, but never really paid it any attention because I, apparently, wasn’t using it right. I wasn’t seeing any benefit…



Same with E-Rewards Opinion Panel Surverys, I participate in the surveys but just let the balance grow because I didn’t know what to do with it.

The other day, UPromise sent me an email about deals with Omaha Steaks. Food will get me every time. I decided to actually look over the site and found they have grocery coupons, offer percentages of purchases made with debit/credit cards and those savings cards you get from places like Giant and CVS. Not only that but they have a section for shopping online and special deals through affiliated websites. Click here to find out exactly how UPromise works. All these deals give a percentage towards your Sallie Mae loans. The amounts are small and it takes times to build up but you can send invitations to friends and family to help grow your balance. I call mine the “Save Rikki from Sallie Mae” fund and plan on hitting up my friends and family to sign up.



My account balance after 3 years was something crazy low like $2.00, but now that I’m checking the website daily for deals and realized the E-Rewards Surveys I get several times a day is linked to UPromise, my account balance has jumped to over $50.

E-Rewards is a product research survey site that pays various amounts, depending on the type and length of the survey. The balance adds up and once you reach, say, $50 or $150 you can transfer $5 or $50 to your UPromise account, which can be transferred to your Sallie Mae loans.

Not only do you save money on everyday purchases but you get a percentage towards your loans; you can’t beat that! And the surveys are easy and usually don’t take more than 20 minutes. When their powers are combined and used for the greater good, you can chip away at your loans AND save money on things you spend money on anyway.




Be strategic about how you use these services and you will see your loan balance slowly fall. Just one more step towards your financial independence…

Monday's Entrepreneur: Michael Jordan

Every Monday, we, at PF4P like to start the week off on a positive note, so I try to bring you stories of people like you and I who have turned a passion or skill into something we all may use or at least heard of.

Today, we bring to you Michael Jordan, more specifically the Jordan Brand. The man/brand that started the whole basketball sneaker phenomenon. He grew his game and his name into a brand that many athletes have either affiliated themselves with or tried to immitate.

My first harrowing experience as a student nurse

The 10,000^th Nursing student may have graduated. But NYP’s Nursing faculty will still continue to inspire and nurture students like Michelle Kok (Year 2), who shares with us how she overcame a harrowing experience during her attachment.

“ I was previously from ITE, and it has shaped me and defined my choices for the future. Currently, studying in NYP is a whole new experience. I gained a deeper understanding of my coursework and attained a new level of progression. I always enjoy learning new things.

During my first semester in Year 2, I was attached to an obstetrics ward. It was a most unforgettable and fruitful experience for me. I reported to the ward like any other day. But that day, I never knew I would experience an adrenaline rush. I was exposed to blood gushing out from a patient right in front of my eyes. We had learnt about this kind of emergency situations in school; the patient had early postpartum haemorrhage. It was a really rare experience for me. We had to apply APIE: Assess, Plan, Implement and Evaluate. Quick action needed, and every second was very precious to us in order to gain control of the patient’s life.

For me, I ensured that the patient’s vital signs are stable and I talked to her to allay her fears. As I’m only a student nurse, I could not administer medication without supervision especially in an emergency situation like this. However, I was very fortunate to be able to observe the other nurses prepare the emergency kit, and the medication/ drip needed to maintain her vitals. The doctors also rushed down to the ward to assess her, doing a sterile procedure for her right on the spot and removed her blood clots. I felt like I was in the ER drama series. The nurses and doctors made me feel I’m part of their team and inspired me with their efficient skills.

As student nurses, we also got to attend to the pre and post-natal mothers and adorable babies, together with the ward staff. We got to learn and apply the new skills that we have learnt in school and also consolidated the nursing skills we have learnt in Year 1.

I will always bear in mind that overcoming difficulties will make me a stronger person. I enjoy all my placements. I want to say a BIG THANK YOU to our lecturers for preparing and coaching us adequately for our attachments. These experiences will help me on my journey to becoming a qualified nurse.

People will tell you how difficult it is to deal with patients, and for example, how gross it is to change a diaper. But basically, we have to bear in mind that everything has dark side and a bright side, just like any job. J“

Ponder This...

My problem lies in reconciling my gross habits with my net income. ~Errol Flynn

What’s wrong with the Rush Card?

What’s wrong with the Rush Card by Russell Simmons? Well, I find a lot wrong with the concept of the card. The main concept behind the card is that the card caters to those without a bank account and the target market group is minorities, specifically African Americans. I can make this assumption because Simmons is one of the Forefathers of Hip Hop music, which has become synonymous with African Americans and the Black community in general. Instead of teaching his target market group to be more financially responsible so they can have a bank account, he is giving his customers a way to continue to neglect any debts they may have with banks and use HIS card.



The Rush Card website claims to help you achieve your financial goals by only allowing the customer to spend what is on the card (added with other financial lessons this not a bad idea), but this teaches very little financial responsibility as far as learning how to manage money within a banking institution. You can’t overdraw the card since you only can spend what you have (again not a bad concept if it were coupled with financial education). Many methods of debt reduction and financial responsibility use this same method, but with cash. Once the money is gone it’s gone. Simmons is assuming that his customers are learning this lesson on their own. The Rush Card carries no interest, like a credit card does, but also offers no sort of savings option.

The Rush Card is used just like a debit card and can be used anywhere Visa cards are accepted. The website claims to report to the credit agencies when used to pay bills. Just paying your bills on time each month does the same thing.

There are a few positives associated with the Rush Card like being able to track your spending. But again, most banks now offer this feature and there are many websites that track your spending and much more.

Simmons has now added a prescription discount card and discount health care plans that are associated with the card. This is good because many people who are not responsible enough to have a bank account also do not have access to these health care features. Many people in general do not have access to these health care options.

Looking a little closer at the Rush Card website, I noticed a tab for Fees. Isn’t the point of the Rush Card to have no fees, like he claims bank accounts and credit cards do? There are a lot of fees associated with this card that you can check out for yourself here.

Is the Rush Card a scam? Well, yes and no. I say yes because Simmons is offering a “convenient” alternative to having a traditional bank account and if used as a tool towards financial independence can educate about spending, tracking your spending, and even saving. I say no because Simmons is in no way educating about proper financial responsibility. Why not just open a bank account? I’m guessing here, but I would say many of the Rush Card users can’t use traditional banks because they owe the banks money. There is no education of how to manage a bank account, thus little education towards managing and maintaining your money.

Instead of using the Rush Card, open a basic checking account with a bank (most banks offer checking accounts that are fee free for a variety of reasons, such as using direct deposit). If you owe banks so much money you can’t get an account, then you should be reaching out to someone or working on your overall debt reduction because more than likely if you owe banks, you owe others.

Used as a tool, the Rush Card can be effective in financial management. One method could be to use the Rush Card as a secondary method of spending, but then you still have to deal with the fees associated. I suppose the card could be used as a beginning tool towards financial independence, but there are much better methods out there.

I can’t knock Russell Simmons’s hustle, because after all it is a recession and everyone needs a side hustle, but in this instance I see him as a vulture preying on the financially uneducated. Instead of using the Rush Card, get your finances in order.

Your future will thank you….