But wait a minute, how about the time spent getting ready for work, commuting to work, having dinner, relaxing and going on Facebook/9gag/Twitter? Also, does anybody actually keep "9 to 5" hours? Last I checked, my employment contract say "9 to 6".
Saturday, 9 August 2014
Working 8 hours in an office and sleeping an average of 8 hours a day - that makes you an average person. What you do in the remaining 8 hours - that's what has the potential to make you different! These 8 hours are when you meet new people, get interesting ideas, start your own business, learn a new skill, and basically be on your way to getting the life you want.
Sunday, 3 August 2014
Whether it is the school kid who has been saving his allowance, the recent graduate with $1,000 left after paying his bills, or the person who came upon some extra cash - what do you do with it?
Some may tell you that $1,000 is a small amount and if you're 'just a school kid', just live life, be happy, and spend it on something you fancy while you still can - money worries will come soon enough once you grow up. Others may say that $1,000 is too little to work with and you should continue saving till you get $2,000, $5,000, $10,000 and then we can start talking. As a start, an easy 3-step approach would be recommended.
Saturday, 2 August 2014
If you have read my post on the 5 Reasons Why Credit Cards Are A Hassle, you will understand why I finally decided that enough was enough - it was time for my credit cards and I to part ways!
From a total of 12 credit cards, 3 debit cards and 3 ATM cards, I now have 11 cards. While that's still more cards than card slots I have in my wallet and far more than I am willing to carry when I go out...I would say it's a start.
So, how do you choose the best credit cards to cut/keep?
Sunday, 27 July 2014
Cash bonuses, free American Tourister luggage, free Samsung Galaxy tablet the moment you sign up for a credit card - what's there not to love? Take the luggage, spend the cash on your loved ones and no annual fee to boot for the first year!
It started with someone telling me of an $80 cash bonus upon sign up for a credit card - 3 cards = $240, easy money! And then there was a higher interest rate on offer for savings accounts with minimal monthly spending on a debit/credit card - why not? Then, there was the card that gave me free access to the swanky clubs (I may decide to stop by for drinks one day, why not?).
Fact is, I'm not a big spender. Yet, in the name of sign-on bonuses and cash rebates, I managed to acquire a total of 12 credit cards, 3 debit cards and 3 ATM cards - I only use 3 and the rest exist to plague me.
Saturday, 26 July 2014
1. Never let on that you are wealthy
2. Teach discipline and frugality anyway
Children develop habits from young, emulating the behaviour of their parents. Hence, it is not sufficient to tell children to be frugal but inculcate such discipline through being credible role models.
Sunday, 20 July 2014
The Millionaire Next Door provides insights to the wealthy based on research about the affluent in America. Why are few of the hard-working, well-educated, high-income people affluent? What does it take, then, to be a wealthy person?
Through research, The Millionaire Next Door presents the seven key characteristics of the wealthy (check out the profile of an average millionaire), which is the roadmap to being wealthy laid out by the authors in the book.
How many of us have what it takes to become a millionaire?
Saturday, 19 July 2014
How to be a millionaire?
Maybe you can look up a millionaire and ask that he let on his secret. Or maybe you can observe-and-emulate. But firstly, do you know who are the millionaires in your neighbourhood?
Do you tell by the fancy car which changes each year? Is it by the holiday home in Malibu? Is it by the expensive suits and dresses which cost more than you earn in a month, per piece? Maybe it's that guy who never leaves his computer, who trades stock all day - he must have accumulated enough from 'buying low and selling high' all day.
But wait a minute, there are 3.5 million households in America with a net worth exceeding $1 million, of which 95% have a net worth between $1 million and $10 million - why is it we don't see that many fancy cars, never hear of even 1 million companies which made it big, and are there that many college drop-outs in America??