People tend to do New Year resolutions but few reflect upon them until the next New Year. But tracking progress is as important as setting the right goals as it not only reminds me of my goals but also allow me to adjust my plans if necessary (here and here are my resolution entries for this year).
Lately I haven’t been following my plan/schedule closely (hence less blogging, drawing, and serious reading) and probably have spent too much time on hedonic pleasures such as dining out, movies, and passive reading than on learning and creating things. Below are some thoughts on various aspects of my life. Overall I think I’ve passed the minimum standard in living the way I want but I definitely could do better.
Career: B-
Became much more familiar and efficient with my work. Now have to further develop my economic and financial knowledge and find ways to add more values.
Health: A-
Exercise and eat well enough to keep myself healthy (except having too many desserts on weekend). Probably not as fit as I’d like ideally, but that’s not my goal for now as I think the time and energy are better spent elsewhere.
Friend: C-
Haven’t catch up with friends that often and probably should communicate with them more regularly, especially those not living in Singapore. But it’s comforting to know that with certain friends, I can connect with them easily and feel close to them even without frequent contact (or perhaps just an excuse).
Love: D-
Only reason it’s not an F is because I didn’t explicitly set it as a goal. But as far as I can see, there’s little probability in meeting someone I’d like. My work environment, personality, and idealistic views greatly limit my chance of meeting new people and finding someone I like. Don’t think I’d do much about it for now except to continue better myself and keep an open mind.
Learning: B-
Read enough to feel that I’m learning something everyday. But the readings are quite random and spontaneous. Would probably be more effective if I specified my learning goals and follow them systematically.
Hobbies: B-
Similar to the learning goal, I’ve been dabbling in various hobbies but haven’t focused enough to do something particularly well. I plan to set some specific projects to do for each month to ensure I’m creating something regularly.
Finance: B
On track to repay my Grad school loans soon, even taking into account my travel plans and regular fine dining. Though still feel a bit guilty about my indulgence given I’m in debt. I guess my Chinese background makes me place more value on prudence than on consumption smoothing.
Ryu's Blog 
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"I guess my Chinese background makes me place more value on prudence than on consumption smoothing".I don\’t think it has anything to do with being irrational. We both know that repaying a loan in the absence of interest can never account for the full cost of lending. But when it\’s from family there are taboos about paying interest because it changes the nature of the relationship in a way that both parties find repugnant. So wishing to pay the loan off sooner is one way to mitigate the cost on the lender. Still, I would hate to borrow from family, as you enter a murky world where the divides of altruism and the broader economy are not clearly defined. It sure must suck to be U\'(Ct)>B(1+r)U\'(Ct+1). That\’s one good thing about the US, you are NEVER liquidity constrained.
Hehe good to see your comments. It reminds me how much I miss debating economics and social issues with you. I ought to find out ways to continue it.
I agree with you. It\’s nothing irrational but more psychological. Your point is the taboo and mental discomfort add to the borrowing cost. To get more technical, it\’s not clear what\’s in our utility function. Could psychological discomfort affect our utility function or time preference? The guilty feeling seems to be consistent with buffer stock and precautionary saving motive as well. Add in a bit of uncertainty regarding future income (I might get fire, my estimate of future income steam might be inaccurate, etc.) make the calculation harder.
I understand the murky world you hate, but most relationship-related issues are murky. On this, I guess Tyler Cowen has it right. Economics isn\’t everything and some understanding of psychology, culture, and history could take us a long way.
Hey Ryu! Yeah it would be really nice to see u again in HK! Hope all is well with u! I may stop over in singapore for 2 days in Aug, if I do I will surely let u know! In any case, I ll see you soon then! Take care!