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Saturday, 21 October 2017

Budget Cuts, Austerity, and Giam Kanas

We may like to complain about SMRT's past folly on trying to "save" their way to profitability by "sacrificing" engineering and maintenance.

What about ourselves?

Are there expenses we should be "investing" on ourselves now?

Or do we wait till things breakdown and shit hits the fan before we grudglingly open up our wallets?

Talk to your grandparents.

See what they say?

They can share real life examples of being penny wise but pound foolish...

Remember the example of the container with rocks, pebbles, sand, and water?

Don't sweat the small stuffs.

Focus on the rocks.

And wear that nice shirt you've been saving for a special day... Mai tu liao...

Tomorrow may never come...

Wednesday, 18 October 2017

Herzberg's Motivation and Hygiene Theory as applied to Save More and Earn More

Remember those management theories we learnt in school or at work?

Can still remember the hygiene and motivation factors?

Those forget or never took business courses can google first to refresh your memory before reading further.

When we talk about financial literacy, its a HUGE topic.

That's why if you alert, you can spot 2 main camps to catering to the needs of the SAVE MORE and the EARN MORE readers.

Hygiene and Save More

This would be the Suze Orman of the world talking about consumer debt like credit cards, housing loans, insurance policies, different bank account types, CPF; emergency funds, clipping coupons; etc.

In some cases, it may look like "earn more", but its not.

For eg, it we switch to this so and so bank account, we can "earn" an extra 1% in annual interest if we can make ourselves jump through hoops...

Or if we accumulate XXXX miles, we can travel for free!

The saddest example must be for the minority who thinks life insurance is a sort of "investment".  Especially those who bought life insurance policies for their child. This is the equivalent of believing the Earth is flat...

Don't get me wrong. Save more is important!

When a person can't manage the hygiene factors well - like having out of control credit card debts, over insured themselves with junk policies, little to no savings which means living hand to mouth - there is no foundation to speak of. 

So if anyone wants to embark on their jouneys towards financial freedom, this is where to start first:

Clean your own backyard!

Motivation and Earn More

To some, there's no need to focus on Earn More. 

This is especially if you are risk averse; and the mere thought of losing just $10K will give you ulcers and sleepless nights...

Look, if you can save $50K per year, in 20 years you will be be a millionaire!

And that's with ZERO tailwind support as in interest rate yield! And ZERO risk of capital loss. OK, purchasing power that's another story... (where got free lunch one?)

Although it will be over my dead body before I make any voluntary contributions to CPF, I can perfectly empathise with those who do. 

However, when we mention financial freedom, the majority legion out there will readily admit the first thing that comes to mind is to EARN MORE money!

That's where tons of ever so helpful "Samaritans" out there are ever so eager to share their wisdom with you, and to help you get rich like them!  (But if they not rich themselves...)

Different snake-oils peddling their own poison of choice. 

Be it properties, equities, options, CFDs, forex, and what not! 

Even helping you to be your own boss/entrepreneur to be an internet marketer. Tip: smarter students of such courses will in turn market their own courses on how to make money from internet marketing... That's how you make money from internet marketing! LOL!

Remember when companies were still using the classifieds for job recruitments in the 90s? Saw those insurance and property agents recruitment ads that promise to help you be a millionaire if you join them? Now you know why your agent is so interested in your financial well being! 

Why the proliferation of "help"? And why do most people gravitate towards these "help"?

That's because anyone with a few years of investing experience knows:

Investing is not saving

Monday, 16 October 2017

7 reasons to get a car in Singapore

1.  To get girls.

2.  To get babes.

3.  To get "chio bu".

4.  To get sexy ladies.

5.  To get convent girls.

6.  To get gorgeous women.

7.  To get materialistic gold diggers.

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