November 25, 2006

Choosing Between the Core 2 Duo MacBook and MacBook Pro

I spent quite a bit of time deliberating between the Core 2 Duo (C2D) MacBook and MacBook Pro models.  In the end, I chose the C2D MacBook.  Here's why.

With the Intel Core 2 Duo processor, we finally have a great mobile CPU that can capably run multiple operating systems at once.  That gave me the extra incentive to investigate switching to Mac OS X.  Apple basically has two choices in laptops, the 13.3" MacBook, and the 15" and 17" MacBook Pro.  I liked different elements in each of those models, and, had a difficult time choosing, because none of the models captures everything I want.

 First, let's talk about the MacBook Pro.  The MacBook Pro has a great keyboard (I personally like the feel of it much more than the MacBook's).  In addition, it has a critically useful expansion card slot, an ExpressCard/34 slot, which is useful for sticking in flash memory cards.  True, you can get a USB flash card adapter, but I hate things dangling or sticking out of my computer.  The other thing the MacBook Pro has is a much better 3D graphics processor, the ATI X1600, which is fast enough for gaming.  However, the MacBook Pro has some negatives such as a much larger size and also, the screen on display models I looked at seemed to have issues with very poor viewing angles and brightness falloff.

The MacBook has some important advantages over the MacBook Pro.  First, there's price- for a similar configuration, I found that the MacBook was about $600 cheaper than a similarly configured MacBook Pro (but the MacBook Pro starts with a 2.16 Ghz processor whereas the fastest MacBook is 2.0 Ghz).  Second, the MacBook is more compact in size, and also lighter weight (5.2 pounds vs. 5.6 pounds).  I found it much easier to carry around the MacBook.  Second, the screen on the MacBook seemed to have less brightness falloff.  The smaller 13.3" screen was a tradeoff I was willing to make, and since I don't do much 3D gaming, I was willing to live with the slower Intel GMA 950 graphics processor.  I figured, I could always get a separate gaming console such as a PS3, Wii, or XBox 360 with the money saved.

In the end, the MacBook won me over because if its size, weight, and price.  It's overall a better value in my opinion, though it comes with compromises.   After living with the MacBook for two weeks, I am still happy with that decision and would make the same choice today.

 

MacBook Core 2 Duo (C2D) Review Update (Part 3)

After spending 5 days with my black Apple MacBook Core 2 Duo (C2D), the fan noise was driving me crazy, to the point that I almost hated using my MacBook. So, I decided to return my MacBook and exchange it for another one. The Apple Store fortunately let me exchange it for another one, and, I anxiously rushed home to try out the new one.

Well, I can definitely say that my new MacBook C2D is MUCH better. Typically the CPU runs at about 50C (122F) when just sitting there doing very little work (compared to 60C (140F) on my previous one). That's a full 10C (18F) cooler! When doing light work, because of the cooler temperatures, the fan is much less audible than my previous version. Also, it now takes a lot more heavy work for the fans to kick in- watching a National Geographic video podcast now, for instance, doesn't cause the fans to go full out. Things that really utilize the CPUs, like wandering around the 3D virtual world SecondLife, do cause the fans to kick in loudly though.  The temperature when running a CPU intensive process is still about 80C, same as before. For normal light to moderate use, the bottom of the machine gets fairly warm, but is actually usable on my lap, whereas my previous one was even warmer, to the point of being uncomfortable on my lap after a while.  With the quieter fan and cooler temperatures, when doing light to moderate work, I am so much happier now, it's amazing.  I am no longer afraid of using my MacBook in a quiet library.

 
Another benefit of this exchanged MacBook is its battery life is much better than my previous one. Previously, doing moderate work with the screen at 3 notches below max, I got 2 hours 20 minutes of battery life- now, with the same settings, I get about 3 hours 8 minutes of battery life. Running at maximum brightness doing quite a lot of work on it, I got 2 hours 40 minutes. Being more aggressive with power savings (such as lowering the screen brightness, turning off bluetooth), I can easily get over 4 hours of battery life, and in fact, I think over 5 hours is achievable if you turn the screen brightness all the way down (which for me though, is a bit too dim). I'm quite happy with the battery life now.

 
Now that I've owned a Core 2 Duo MacBook for about two weeks, I have some longer-term comments. First, the finish on my black MacBook seems to be very delicate. Carrying it around for a few days in my backpack, I've already noticed several blemishes- some of the finishes around the corners are wearing out, and also, the bottom has developed several very noticeable scratches. I don't remember what else I had in my backpack, but it might have been some compact disks, a mouse, or a spiral bound notebook. Anyways, to keep your MacBook looking good, you have to be extra careful with how you store and carry it. Another thing that has developed is the hinge on my screen creaks noticeably when opening and closing. Oh well, at least I now have a much quieter fan and better battery life!

Normally I don't buy extended warranties, but, with the MacBook, I decided to buy AppleCare, which extends the warranty to 3 years.  I think it's worth the extra peace of mind since, at least in my limited experience, and in reading various forums about the MacBook and MacBook Pro, Apple seems to have quality control issues. 

See Also:

MacBook Core 2 Duo Review Part 1

MacBook Core 2 Duo Review Part 2

MacWorld's MacBook Core 2 Duo Review and Benchmarks 

CNET MacBook Core 2 Duo Review and Benchmarks 

November 12, 2006

Review: MacBook Core 2 Duo (C2D) - Part 2 - Performance Benchmarks

The most notable new thing about the latest MacBook is the Intel Core 2 Duo processor.  It's a dual core processor, and, even more notably, it's a 64-bit processor (in terms of its instruction set, but not its address bus).  Let's see how the MacBook performs on super_pi and CineBench....

My hardware being tested is a 2.0Ghz Core 2 Duo MacBook with 1GB RAM, 120GB Hard drive.  All tests were run with the computer plugged in (not on battery or power saving mode).
 

super_pi
The first benchmark I ran was super_pi, which calculates digits of pi.  It's not a great benchmark in that first of all, the version I ran was a PowerPC binary, not an intel binary, so, the MacBook uses the Rosetta translator to run it.  Second, super_pi seems to only utilize one CPU core, so it's not using the Core 2 Duo to its best advantage.  Nevertheless, because it's so prevalent, here are the results (best of 3 runs is shown below):

 ./super_pi 21
 Version 2.0 of the super_pi for Mac OS/X
 Fortran source program was translated into C program with version 19981204 of
 f2c, then generated C source program was optimized manually.
 gcc-3.2.2 with compile option of "-O3 -ffast-math -finline-limit=1000" was used
 for the compilation.
 ------ Started super_pi run : Sun Nov 12 21:20:32 PST 2006
 Start of PI calculation up to 2097152 decimal digits
 End of initialization. Time=       1.239 Sec.
 I= 1 L=       0        Time=       3.409 Sec.
 I= 2 L=       0        Time=       3.823 Sec.
 I= 3 L=       1        Time=       3.832 Sec.
 I= 4 L=       2        Time=       3.814 Sec.
 I= 5 L=       5        Time=       3.837 Sec.
 I= 6 L=      10        Time=       3.825 Sec.
 I= 7 L=      21        Time=       3.817 Sec.
 I= 8 L=      43        Time=       3.821 Sec.
 I= 9 L=      87        Time=       3.811 Sec.
 I=10 L=     174        Time=       3.802 Sec.
 I=11 L=     349        Time=       3.810 Sec.
 I=12 L=     698        Time=       3.815 Sec.
 I=13 L=    1396        Time=       3.813 Sec.
 I=14 L=    2794        Time=       3.821 Sec.
 I=15 L=    5588        Time=       3.798 Sec.
 I=16 L=   11176        Time=       3.787 Sec.
 I=17 L=   22353        Time=       3.771 Sec.
 I=18 L=   44707        Time=       3.711 Sec.
 I=19 L=   89415        Time=       3.610 Sec.
 I=20 L=  178831        Time=       3.389 Sec.
 End of main loop
 End of calculation.    Time=      79.218 Sec.
 End of data output.    Time=       0.550 Sec.
 Total calculation(I/O) time=      79.768(      15.581) Sec.
 ------ Ended super_pi run : Sun Nov 12 21:21:57 PST 2006

 Comparison:

MacBook Core 2 Duo 2.0Ghz:  79.768s

MacBook Pro Core 2 Duo 2.33Ghz:  68.727s 

Click for More Results Here

 

CineBench Results (Universal Binary)

Rendering (1 CPU): 331 CB-CPU

Rendering (x CPU): 592 CB-CPU

Multiprocessor Speedup: 1.79

C4D Shading: 403 CB-GFX

OpenGL SW-L: 1418 CB-GFX

OpenGL HW-L: 1493 CB-GFX

OpenGL Speedup: 3.70

 

My resuls were about 10% faster than ArsTechnica's results for the MacBook with 2.0Ghz Core Duo.  So, even given an equivalent speed CPU, the Core 2 Duo showed some advantages over the previous version.

Click here for full comparisons from ArsTechnica

I'm happy with the performance of the 2.0Ghz Core 2 Duo.  I think it's a real ground-breaking processor, with its 64-bit instruction set, its support for virtualization, and its great performance.  It is now possible to actually run two operating systems, such as OS X and Windows XP simultaneously on a portable notebook computer and have good performance in both OSes.

See Also:

 MacBook Core 2 Duo (C2D) Review Part 3, 2nd week update (TopicPoint.com)

MacBooks see a modest Core 2 Duo Boost (MacWorld)

 


Review: MacBook Core 2 Duo (C2D) - Part 1

MacBook Core 2 Duo After much deliberation, I decided to purchase an Apple MacBook Core 2 Duo (C2D), black version. It is not my first Mac, but I have been away from the Mac world for over 5 years. Herein are my impressions of the MacBook Core 2 Duo.   In this section, I'll talk about the unusual keyboard, the issues with CPU temperature and fan noise.
The MacBook is Apple's smaller notebook computer- I say smaller because it is smaller than their MacBook Pro line, though I would actually classify it as a mid-sized laptop.  The Macbook has a 13.3" glossy screen, with a  1280x800 screen resolution.  It comes in white or black, with black being the best-configured of the two, having a 120GB hard drive, 2.0Ghz Intel Core 2 Duo processor, an Intel GMA 950 graphics controller, a 6x DL DVD burner,  1GB of RAM, 2 USB ports, 1 FireWire 400 port, a DVI output port, and a built-in iSight camera.  I am reviewing the black Macbook, but most of my comments apply to both models.

In terms of size, the MacBook is 12.78x8.92x1.08 inches, and weighs 5.2 pounds.  It feels compact and solid.  Its weight is slightly less than the 5.6 pound 15" MacBook Pro, although I wish it were even lighter, as every ounce counts when you have to carry a laptop around a lot.  Nevertheless, it's a good size that is great for those that care more about portability than features.  Speaking of features, the MacBook has a few less features than the MacBook Pro, such as lack of an ExpressCard/34 slot, and lack of FireWire 800.  I should also point out that the AC power adapter is very small, light weight, and compact- an ideal travel size. 

My initial impression of OS X (v10.4.8) is very positive!  The interface is very nice, the ability to get a bash shell is excellent (for me that is, since I use Linux all the time).  There are a lot of nice little extras, which I'll write more about in a future post, such as the speech commands, iPhoto, iDVD, Photo Booth, and more.  The ability of OS X to seamlessly recognice and work with my Kensington bluetooth mouse and my Canon Rebel XT digital camera were really nice.

The MacBook's exterior is pretty much all plastic, but it is very beautifully designed.  The case is fairly minimalist in style, and has curved edges and rounded corners, and it's very elegant looking.  There are nice little touches like the glowing Apple logo on the cover, the battery with little LEDs indicating its charge level, when charging, and the extra-large touch pad (more on this later).  Apple has got industrial design down pat! 

Unfortunately, Apple pays more attention to elegant design than ergonomics and usability.  One of the flaws of the MacBook design is Apple forgot to round the corners that really matter when you're actually USING the machine, namely the edge near where your wrists rest.  It is Sharp and unrounded, and can hurt your wrists if you rest your wrists there many times over the course of a day (Yes, I know you should not type with your wrists resting on the wrist rest area!).  There are solutions though, such as buying foam wrist pads, but still, Apple should have fixed this by now.  Another small usability flaw is that the screen only tilts back about 135 degrees, which, though good enough for most situations, would be more optimal if it tilted even back further if you like sitting on the floor (like I do).  This is mainly due to the moderate viewing angle of the LCD, but, please understand, this is a very minor issue, because usually with some adjustment of the laptop position, you can get a decent view of the screen but it just might not be the optimal position you'd choose if the screen could go back further.

The extra large touchpad is really nice.  It is especially nice because OS X interprets movements when you have two fingers on the touchpad as scrolling controls.  It works quite well, and is intuitive.   However, Apple is still sticking with a single button- despite the fact that so many applications (even Apple's own) can make use of a 2nd button.  I have resorted to using an external bluetooth mouse because the single button was driving me crazy.  Apple supports a simulated 2nd button by interpreting a button click where you also have 2 fingers on the TrackPad as a right button click, but, that just doesn't work as well as having an actual second button- another case where Apple's insistence on elegant design trumps usability. 

The Keyboard:

MacBook Pro Keyboard 

Apple's keyboard on the MacBook is unusual in that it is very flat.  Some people may love it, others may hate it.  I'm somewhere inbetween.  After just a few tens of minutes using it, I felt pretty comfortable typing on it.  It is not bad, as the keyboard does feel solid, but it definitely is inferior in feel in my opinion, to the MacBook Pro keyboard and to the Thinkpad keyboards I'm used to.  The problem with it is that it doesn't have enough travel in the keys, and, just seems more tiring to type on than a MacBook Pro keyboard.  But keyboards are very subjective, so try it for yourself, you might love it.  Another difference between the MacBook and MacBook Pro keyboard is the MacBook keyboard does not light up in the dark.  Not a major issue to me, but, some people like a lit up keyboard.  Another puzzling omission by apple is a dedicated page up and page down key, as well as home and end.  Instead, those keys are shared with the up, down, left, right navigation arrow keys, and require holding down the fn or alt keys to perform those functions.  Also, the backspace and delete keys are combined in one as well.  Anyways, in summary, the keyboard is "ok" not perfect, but reasonably usable.

The other issue I want to cover is CPU temperature and fan noise.  Previous Core Duo versions of the MacBook have had major issues with heat and fan noise.  So, how well does the Core 2 Duo do here?  Well, disappointingly, my version seems to go from a little bit noisy to very noisy.  I have a 60 degree celsius (140 fahrenheit) idle temperature and an 80 degree celsius (176 fahrenheit) heavy usage temperature.   The fan noise at idle when nothing is stressing the system is a low but noticeable hum in a quiet room.  When the temperature starts rising as the CPU gets more work, the fan is very noticeable- in fact, loud enough that it would attract some amount of attention in a quiet library.  When doing fairly lightweight tasks, such as web browsing, word processing, using the OS X UI, the fan is kept at a fairly low level.  If you get one of the CPU cores going at more than about 33% the fan noise starts moving up.  I've noticed the fan kick in loudly in several situations so far- importing pictures into iPhoto, installing XCode, playing a video podcast, running super_pi, running CineBench.  (REVIEW UPDATE:  Be Sure to See Part III where I returned my MacBook due to the fan noise)

See the Database of Intel Mac Temperatures, and theor HowTo on measuring Mac CPU temperatures.

Also, read another independent opinion of the original MacBook's heating and fan noise issues from ArsTechnica.

A note on battery life.  So far, I've had two days to use the system from a full charge.  The first day, I was playing a dvd while doing web browsing, occasional software downloads, and I got 2 hrs 20 minutes of battery life.  The second day, doing mostly word processing and web browsing, some application downloading and installations, a small amount of photo importing, and I got 2 hrs 20 minutes.  What else can I say other than, I wish it were better!  Both times, the LCD level was 3 notches below maximum and WiFi and Bluetooth were turned on.

Conclusion:  Overall, I can say that the MacBook is beautifully designed.  OS X is also a wonderful operating system to use so far.  The MacBook hardware seems to need work with heat issues and fan noise.   

See also- Part II benchmarks of my Macbook Core 2 Duo!  Let's see how this Core 2 Duo performs!

See also- Part III MacBook Core 2 Duo (C2D) Review Part 3, 2nd week update (major review update)

See also- MacBook Core 2 Duo (C2D) Battery Life

 

 

 

MacBook Core 2 Duo, Black
 

November 09, 2006

Types of Loans for Emergency Cash

Almost everyone needs an emergency loan at some point.  It might be due to a medical emergency, an unexpected home repair, a car accident with costly repairs.  Whatever the need, the choices you make in going into debt are important ones and can make the difference between being manageable and having mountains of debt spiraling out of control.

Payday Loans (also called Cash Advance Loans)
These are amongst the worst loans you can get.  Here's why....

Home Equity Line of Credit (HELOC)
A good way to borrow if you're careful. Read more to find out if it's right for you.


Home Equity Loans (HEL)
A good way to borrow if you're careful. Read more about the tradeoffs and see what to watch out for.

Person-to-person (P2P) Loans
A new way to borrow with help from a community of lenders.  Get a better interest rate borrowing from real people rather than big institutions.

Retirement Account Loans
You've saved some money in your retirement account (IRA, or 401(k))- in an emergency, can you tap into it?  More importantly, SHOULD you do it?

Credit Card Debt
Credit card interest rates are typically fairly high.  Being in credit card debt is something you should avoid.  Read these tips on avoiding and on getting out of credit card debt.

-------------------------------

What I would do (and this is just me- your situation may vary): 

  • If you own a home, and have built up equity, a home equity loan or home equity line of credit are good choices with decent rates.  Just be sure you can pay back the loan or you ma lose your home.
  • The next best choices in my opinion would be P2P Loans.  The interest rates will probably be inbetween the home equity loans and credit card rates, though it will depend on your credit rating and situation. 
  • Borrowing by using your credit card comes in 4th place.  Rates can be high, usually 17% to 29%, depending on the deal you have.  If you have a better rate, then this option might come in as a better choice, but, credit card companies have a sneaky way of jacking up the rates once you're hooked so be cautious.
  • Borrowing from your retirement accounts would come in third place in my book.  I have actually done this before, and it worked out fine.  But, you have to be very careful about the rules on paying back.
  • At the bottom of the list are Payday loans, which are the worst option of all.

November 08, 2006

Retirement Account Loans

Yes, you can borrow from your retirement accounts.  In special situations, there might not even be a penalty.  BUT, the big question is, should you?

 

See the articles below for information on borrowing from an IRA or 401(k) or 403(b).  Note, because tax laws can change, be sure to check if there are recent changes to laws regarding these types of loans.

Borrowing from an IRA - BankRate.com
Yes, you can (sort-of) borrow from an IRA in an emergency.  And, if you pay it back quickly, there might not even be a penalty.  See also: another similar article from BankRate.com.

'Loan' from IRA is a Risky Proposition
You can do a short-term withdrawal from your IRA, but be very very careful.

IRA - Wikipedia Definition
A good overview of IRAs and what you can and can't do with them.

Should You Borrow From your 401(k) or 403(b)? - SmartMoney.com
A Calculator to help you decide if it's better to borrow from your retirement plan to pay off debt or not.

Warning: 401(k) Loans are Hazardous to your Wealth - moneycentral.com
Borrowing from your 401(k) should be used as a last resort if you have no better options.  See the pros and cons of this choice.

Should I Borrow from my 401(k) Plan? - BankRate.com
A calculator to help you quantify the cost of borrowing from your 401k.

Do Not Borrow From Your 401(k) - SFGate.com
The San Francisco Gate's article on 401k borrowing urges you to explore other possibilities first.

Ground your Retirement Fund with Real Estate - moneycentral.msn.com
You can own real estate in your IRA, but, it's tricky, and risky.  A single mistake could mean a tax disaster.

Tapping your 401(k) - MsMoney.com
A good description of the tradeoffs in borrowing from your 401(k) plan.

The 403(b) Loan: The New Debtors' Prison? - 403bwise.com
Proceed with caution, read these problems before jumping into a 403b loan.

Real Estate can be in an IRA but Basic Rules are Critical
SeniorJournal.com discusses owning real estate in an IRA.

 

 

 

P2P Lending

A new way of borrowing and lending is staring to catch on- peer-to-peer (P2P) lending.  Regular people pool their money together to loan money to fund loan requests.  Anyone can be a lender, and anyone can be a borrower. 

 

I think P2P lending (also known as Social Lending) is a fantastic idea.  With several sites that have popped up recently around this concept, the idea is catching on.  My main experiences with P2P lending are with Prosper.com, and I have found it to be an excellent experience. 

Prosper.com
P2P Lending where lenders compete to bid on the interest rate for your loan.  It's a very well-designed, well-structured system with a lot of built-in protections for making sure things go smoothly.

CircleLending.com
A way to borrow from your family and friends.  They have a lot of different loan types available.

Zopa.com
P2P Lending.  The rates are set by Zopa, unlike Prosper.com which lets the market decide.

See Also:

Prosper Lending
More articles from TopicPoint.com on lending and borrowing on Prosper.

Social Lending: The Next Web 2.0 Phenomenon
A review of Zopa and Proser, and some thoughts on the social lending phenomenon.

My Prosper Borrowing Experiences
One of my borrowers on Prosper.com has written her experiences borrowing using Prosper.

Prosper.com:  A 6-month Review
A critique of Prosper from InvestorGeeks.

 

 

Credit Card Debt

If you are in credit card debt, I have just two words for you: Get Out! How bad of a problem is it, and what can or should you do about it?
Credit Repair: Self Help May Be Best - ftc.gov
The Federal Trade Commission has some advice for you on fixing your credit, and warnings to be careful of those that claim they can fix everything for you.

Knee Deep in Debt -ftc.gov
The Federal Trade Commission has some great tips on what you need to do to manage your debt.

How to escape card debt - usatoday.com If you're in credit card debt, read these tips on how to get out and manage your debt.

Credit Cards -BankRate.com Great site with current credit card rates, as well as articles about credit and debt, and Calculators for paying off credit debt.

College Student Credit and Debt Advice
A lot of great articles on credit, debt, managing your credit rating, useful for anyone in debt.

Credit/Debt Management - About.com
Lots of articles on credit, debt, debt management, repairing your credit.

Avoiding Credit Card Debt
NOLO.com has some tips on how you should use your credit card.

The truth about credit card debt
MSN Money article about credit card debt in America, with statistics that show it's not as bad a problem as most people think.

Fool.com Credit Center
A lot of articles on credit cards, debt, getting out of debt, and managing credit.

Secret History of the Credit Card
PBS.com - a video on the banking and credit card industry.

CreditCards.com
A site to help you find credit cards by type, such as lowest rate, best balance transfers, etc.

Home Equity Loan (HEL)

This is a secured debt loan that is backed by your house as an asset.  If you own a home and have built up equity in it, this is one loan to consider.  It's given to you as a lump sum when you take out the loan.  The rates are usually pretty good, fixed at the start of the loan (unlike the HELOC which has a floating rate), and structured to have regular payments over a fixed time period.   In addition, depending on your situation, there may be tax benefits with using a home equity
loan.

 



Some useful links on Home Equity Loans:

Home Equity Loans: Borrowers Beware!
The Federal Trade Commission (FTC) issues warnings about some home equity loans- beware of bad loan terms!

Putting Your Home on the Loan Line is a Risky Business
The FDIC cautions you on borrowing against your home, and urges caution. See what you need to look out for.

Home Equity Basics
BankRate.com discusses how home equity loans and home equity lines of credit work.

BankRate.com Home Equity Loan
Get articles and current rate quotes for HELOCs.

The No-Equity Loan Trap
SmartMoney.com cautions borrowers against destroying the equity in their home with home equity loans.

5 tips for wisely tapping your home equity
MSN Money discusses the tradeoffs of getting a home equity line of credit and home equity loan.

Should you tap home equity?
CNN.Money.com discusses the merits of home equity loans and lines of credit. Which is better, and which should you use?


Home Equity Line of Credit (HELOC)

This is a secured debt loan that is backed by your house as an asset. If you own a home and have built up equity in it, this is one loan to consider. The rates are usually pretty good, tied to the prime rate, and float with the market. In addition, you can open this line of credit at any time and just let it sit for emergencies- you are usually given a checkbook or credit card to tap into this loan. Like a credit card, it has a maximum limit, and you pay back what you owe plus interest, and there's usually a minimum payment to be made each month. In addition, depending on your situation, there may be tax benefits with using a HELOC.

Some Useful Links on Home Equity Lines of Credit:

When Your Home is on the Line
The Federal Reserve has some good tips on Home Equity Line of Credit loans.

Home Equity Lines of Credit
The Federal Trade Commision's site describes HELOCs.

Putting Your Home on the Loan Line is a Risky Business
The FDIC cautions you on borrowing against your home, and urges caution. See what you need to look out for.

BankRate.com Home Equity Line of Credit
Get articles and current rate quotes for HELOCs.

5 tips for wisely tapping your home equity
MSN Money discusses the tradeoffs of getting a home equity line of credit and home equity loan.

Home Equity Line of Credit: The Facts
QuickenLoans.com discusses benefits of HELOCs and how they work.

Should you tap home equity?
CNN.Money.com discusses the merits of home equity loans and lines of credit. Which is better, and which should you use?


PayDay Loans (Cash Advance)

Payday Loans- Wikipedia:  "A payday loan or paycheck advance is a small, short-term loan (typically up to $1,500 in the  U.S.) that is intended to bridge the borrower's cashflow gap between paydays. ... As a form of sub-prime lending, similar to high interest rate credit cards,  payday lending is the subject of controversy. Some critics claim that payday  lenders target the young and the poor, near military bases and in low-income  communities, who may not understand the time value of money. Others go further, comparing payday lenders to loan sharks due to high interest rates — typically 250% or more when annualized."

My personal opinion on Payday Loans:  Avoid Payday loans or cash advance loans at all cost!!! 

Payday loans are generally amongst the worst loans you can get- you will end up paying an interest rate FAR greater than other loans.  Continue reading the resources cited below to educate yourself on these rather unattractive loans. 

FTC Consumer Alert: Payday Loans = Costly Cash
The U.S. government's Federal Trade Commision advises you to consider other alternatives to Payday Loans.

Officials call payday financing "loan sharking"
Bankrate.com article on some peoples' actual experiences with Payday loans.  You'll see stories of huge fees, outrageous interest rates, and calls to ban the practice.


Legal Loan Sharking or Essential Service?  The great "payday loan" controversy.
ReasonOnline article describes payday lending as the transfer of wealth from the poor and poor-risk to the predatory and powerful.

Beware Payday Loans:  Dangerous Consumer Rip-off
About.com calls cash advance loans a very bad idea (for the borrower).

Predatory payday lending practices cost American families $4.2 billion annually.
The Center for Responsible Lending has a detailed research report, entitled "Financial Quicksand"  with lots of statistics detailing the problems with Payday lending.  The typical borrower pays bay $793 for a $325 loan- not a good deal at all!

Seductively Easy, Payday Loans Often Snowball
The New York Times writes on how payday loans can quickly pile up, and discusses some legislation around payday lending.

Payday Lending Laws
The National Conference of State Legislatures has this great page that keeps track of lending laws and loan limits for payday lending in various states in the U.S.

FDIC: Payday Lending
An overview of Payday Lending- what it is, typical loan sizes, typical borrowers, with nice charts and graphs on statistics.

FDIC Guidelines for Payday Lending
The Federal Deposit Insurance Corporation has these regulations that govern the evaluation of payday lenders.

Payday Advance Services
DMOZ listing of various Payday cash advance services (you should Avoid these at all cost).

November 07, 2006

MacBook Pro Core 2 Duo (C2D) Review Roundup

Apple's MacBook Pro laptop, with the new Intel Core 2 Duo (C2D) laptop is out.  For the first time in years, I'm considering switching back to the Mac.  Why?  Well a number of reasons:

  • Intel's Core 2 Duo is a great processor.  It's a 64-bit processor, dual core, supports virtualization, and is blazingly fast.
  • MacBook Pro is in its 2nd revision, so hopefully Apple has fixed most of the manufacturing bugs.  The 1st version had excessive heat issues, for instance- the new version is supposedly much better.
  • Added Firewire 800, upped the clock speed of the graphics card (so now it's a decent gaming machine)
  • Parallels virtual machine software - so I can run Windows and/or Linux.

In mulling my decision, I have gathered a list of recent reviews of the MBP C2D.  Here they are....


BareFeats:  Shootout: Two MacBook Pros - Core Duo versus Core 2 Duo
Lots of benchmarks- Photoshop CS2, iTunes, iMovie, Aperture, Quake 4, WoW, UT2004

ComputerWord:  First Take:  New MacBook Pro 'one cool customer'
A fairly detailed review of the C2D MBP.

PC Magazine:  Apple Macbook Pro 15-inch (Core 2 Duo)
A really good review of the Macbook pro, with benchmarks vs. other PC laptops. 

CNet:  Apple MacBook Pro
A video and a full text review of the MBP C2D, with some benchmarks.

Brian's Macbook Pro (C2d) Review
Lots of benchmarks, including 3dmark05, 3dmark06, plus some Q&A from the reviewer.

Macworld: Benchmarks: MacBook Pro Gets its Core 2 Duo Boost
Comparing the new vs. old  15" MacBook Pros, and also  compared with the 13" Macbook.

MacInTouch:  Reader Reports on the MacBook Pro Core 2 Update
Some real reader feedback on experiences with the new MacBook Pro Core 2 Duo (long but lots of good info).

November 04, 2006

Review: iPod Nano 2nd Generation (2G)

iPod Nano, 8GB, 2GFinally, Apple has fixed the problems with its iPod nano and produced a worthy upgrade to the iPod mini.  With up to 8GB of flash memory, and an estimated 24 hour battery life, and redesigned case, it makes a great portable music companion.  

As an owner of the 2nd generation iPod mini, which had a 6GB hard drive and 18 hour battery life, the 1st generation Nano, with only 4GB of flash memory and an approximate 14 hour battery life was a disappointment to me.  On top of that, the original nano was very scratch-prone and plasticky.  Well, all that is changed now with the 2nd generation iPod Nano.  The new iPod Nano is ultra-portable at 3.5 x 1.6 x 0.26 inches and 1.41 ounces, has a durable aluminum tube case (similar to the iPod mini but shrunk down in size), and a great 24 hour battery life, and storage sizes of 2GB, 4GB, and 8GB.  This is what the original Nano should have been!

Currently, there are several versions of storage size and colors:
2GB - Silver only
4GB - Silver, Red, Blue, Pink, Green
8GB - Black, Red

I purchased a black iPod Nano, as it was what I considered to be a true upgrade to my 6GB iPod mini.  In terms of features, it has the same familiar iPod interface and menuing system.  There are some minor software improvements such as search-by-letter, and gapless playback.  Also, the new Nano can support high quality audio recording with the purchase of additional microphone accessories.  The screen is still the same 1.5 inches as the original nano, and has a 176x132 resolution.  You can view pictures on the Nano, but, it does not play video.

The new aluminum case is much more scratch-resistant than the previous design.  I have been carrying around my G2 iPod Nano in my pocket (carefully though, without other metal objects in the same pocket) for a few weeks now and it still looks great (unlike my 5G video iPod which quickly developed major scratches after the first day). 

The Nano is beautifully designed and a pleasure to use.  Apple has a habit of not being on the cutting edge with their MP3 players.  They lag far behind their competitors in technology (for instance, they still don't have a built in FM tuner, they still don't support bluetooth, they still don't support WiFi, they still don't have a built-in recording microphone, and on and on).  However, Apple has beautiful designs and great integration with iTunes, which is a great music store, music manager, and podcast manager.

iPod Nano, 8GB, G2

iPod Nano, 8GB, 2G, side view

See Also:

Apple's iPod page

TopicPoint.com 5G iPod Video Review