I managed to cut down one credit card so far.. I have plan to cut MBF card after all the Balance cleared. I want to cut Citibank Shell but the bank offer me to waive annual fee and Gov Tax. So i save about RM50.. The other card on my list is HSBC bank MasterCard . Then followed tge AMBANK but take some time since i have some balance installment plan for iPad 2. I hope i can achieve the financial freedom next year.
It is not easy to control the spending if youre a shoppaholic..
Thursday, December 27, 2012
Tuesday, December 11, 2012
Public Holiday - Selangor only
Yeah... today is public holiday but i'm still have to work. Looking for extra money meaning extra income. Enough to cover for my leave since my leave has been completely use up. If i don't take leave, it can be converted to money....cash money. It can pay my debts.
It's very hard to slash my spending habit especially in new IT gadgets like Iphone 5(which i bought in Hong Kong and cost me about HKD 6850) but very unlucky i can find the same model in other shop only cost about HKD 5800..According to salesman, HK model is more expensive that US version. The reason is HK model can be used in other countries.
The good habit in spending in our salary should be like this( maybe different people different strategy)
1. Saving - 20%
2. Spending - bills, groceries, children about 30%
3. Credit card payment/house loan and car loan - 40%
4. Emergency - 10%
At the moment, my budget is very very tight.....so the percentage at this moment is like this
1. Saving - nil
2. Spending - 40%
3. Credit card - 50%
4. Emergency - 10 %
Very bad...so my plan is to change slowly to good budget habit. Maybe take me another 2 years....Haha..
It's very hard to slash my spending habit especially in new IT gadgets like Iphone 5(which i bought in Hong Kong and cost me about HKD 6850) but very unlucky i can find the same model in other shop only cost about HKD 5800..According to salesman, HK model is more expensive that US version. The reason is HK model can be used in other countries.
The good habit in spending in our salary should be like this( maybe different people different strategy)
1. Saving - 20%
2. Spending - bills, groceries, children about 30%
3. Credit card payment/house loan and car loan - 40%
4. Emergency - 10%
At the moment, my budget is very very tight.....so the percentage at this moment is like this
1. Saving - nil
2. Spending - 40%
3. Credit card - 50%
4. Emergency - 10 %
Very bad...so my plan is to change slowly to good budget habit. Maybe take me another 2 years....Haha..
Thursday, December 6, 2012
What my plan??
Lately I always tired and not enough time to do other thing. Always working start from 7 am till 6pm or 10pm. So far, I feel that u work for money only but not the other way round. We should let our money work for us. That the financial planner told us but not easy as they thought us. They need discipline, courage, perseverance and full commitments to achieve that.
Starting saving from young k is a good ideas but one again is not that easy..if you come from poor family or just enough salary income family, the priority is to male sure that our kitchen is smoking for food.
I have few things to settle.
1. To stop subscription for broadband. I have 3 broadband subscription. I think I need Unifi. So far Unifi speed and performance quite ok. Digi and P1 also ok but I need to stop this two. I save about RM 250.00. But P1 still have few months contract till March 2013.
2. Astro...I have 2 accounts. One under my name the other one under my wife name. I have to cut under my name. Save about $40...Under my wife to reduce the package. Use the basic one. Save about $50.
3. House loan...need to refinance. No time to go to bank..at the moment at 7.6% so expensive..maybe can cut down to 4%..saving?? Not sure how much.
4.
Starting saving from young k is a good ideas but one again is not that easy..if you come from poor family or just enough salary income family, the priority is to male sure that our kitchen is smoking for food.
I have few things to settle.
1. To stop subscription for broadband. I have 3 broadband subscription. I think I need Unifi. So far Unifi speed and performance quite ok. Digi and P1 also ok but I need to stop this two. I save about RM 250.00. But P1 still have few months contract till March 2013.
2. Astro...I have 2 accounts. One under my name the other one under my wife name. I have to cut under my name. Save about $40...Under my wife to reduce the package. Use the basic one. Save about $50.
3. House loan...need to refinance. No time to go to bank..at the moment at 7.6% so expensive..maybe can cut down to 4%..saving?? Not sure how much.
4.
Tuesday, December 4, 2012
How to clear debt??
I have more than 200k in debts. The highest is house loan about RM100+. The second is credit cards about 120k and car loan about 70k... My most important is clear the credit card as soon as possible since it has highest interest rate ranging from 8.88(maybank 2 cards) and 17% perannum. The faster we cleared the faster we can reduce the interest so we can save more from the interest.
Planning to cut credit card debt:
1. Cut spending using credit card...especially the card that charged the highest interest rate. Use the lesser one.
2. Use the card the give discount when buying like give discount when pumping petrol...or shopping. I use more UOB one card give 5% discount for any petrol and anytime. so we can save 5%.
3. For shopping i use Maybank 2 cards cheapest int rate.
4. Balance transfer from the highest to lowest credit card company.
5. To stop using the credit if no more using it..Saving interest and annual fee from government. Planning to cut Citibank and Ambank credit card.
tbc....
Planning to cut credit card debt:
1. Cut spending using credit card...especially the card that charged the highest interest rate. Use the lesser one.
2. Use the card the give discount when buying like give discount when pumping petrol...or shopping. I use more UOB one card give 5% discount for any petrol and anytime. so we can save 5%.
3. For shopping i use Maybank 2 cards cheapest int rate.
4. Balance transfer from the highest to lowest credit card company.
5. To stop using the credit if no more using it..Saving interest and annual fee from government. Planning to cut Citibank and Ambank credit card.
tbc....
Monday, November 26, 2012
Holiday in I City
I City is one of the new attraction available in Shah Alam with its new water theme park. Previosly.., i city was promoted as the place with night city light with lot of interesting colourful lighting and you can visit snow walk to cool down your temperature like in winter in Europe.
I went there with my childten without my wife by using discount coupon from Groupon...actually the real price in groupon and in the i city is not much different for Malaysian but the foreigner yes.
The weather is quite nice and hot..lucky not raining. So we can played everything that was available there. it's fun and enjoying.
I went there with my childten without my wife by using discount coupon from Groupon...actually the real price in groupon and in the i city is not much different for Malaysian but the foreigner yes.
The weather is quite nice and hot..lucky not raining. So we can played everything that was available there. it's fun and enjoying.
Saturday, November 10, 2012
Reality in Malaysia
Today i have read the article from the star..quite interesting. That's the reality what happening in Malaysia. We need to change for a better living by choosing a good government that make our live easier and affordable.
Rich or wealthy – which are you? MONEY & YOU BY YAP MING HUI
IN recent years, the level of household debt among Malaysians has been a matter of growing concern, as the statistics show that the average person is way over his head in debt. Based on Bank Negara figures, the typical household borrowing is a shocking 140% of disposable income. That's something to think about, as it means that at least half of Malaysians are struggling desperately with their finances. So, they probably have very little idea of how they can become financially free, let alone wealthy. Incredible, isn't it?
Most people we know would like to be free of financial worries and to enjoy a high standard of living, but so few seem to get it right. The journey towards financial success begins by first knowing where you are. Strangely, many people in the middle class find it difficult to answer this question: are you middle class, financially free or rich? In my latest book, Set Yourself Free: How To Optimise Money and Become Wealthy With Minimum Effort and Risk, I have talked about the money matrix, an intellectual tool that I have developed to help you understand the state of your finances and how you can move towards financial freedom, and eventually wealth. (see chart) Think about the various elements in the money matrix for a while, and let the ideas being discussed here get absorbed into the way you look at money. How you view these situations will determine what you do to achieve your goals. The vertical axis denotes your ability to generate an active income, which is described as your money-making ability. The higher your money-making ability, the more income you generate. You can take steps to increase your money-making ability by focusing your time, resources and effort on the area that you do best. Compared to a general practitioner, a heart specialist is able to generate a higher income. Likewise, if you are a small business owner, you could concentrate on becoming a market leader in your industry. Most people find it relatively easy to increase their money-making ability. In fact, some people become absolutely driven by it, thinking that it is the only way to resolve all their financial concerns. If you are wondering why so many people are constantly chasing their financial goals, but never seem to reach them, that's because they are focusing on making more money but not on optimising what they have!
People who adopt this mentality will always be stuck in the “rat race”. They cannot afford to stop working for fear that they cannot maintain their present lifestyle. If you are one of these people, it may be time to re-evaluate your priorities. Money optimisation, as measured on the horizontal axis of the money matrix, reflects your ability to turn your active income into assets and then using those assets to support your lifestyle in the optimal manner. In other words, money optimisation is about making your accumulated assets work for you. The higher your money optimisation ability, the more assets you will accumulate and preserve.
To achieve financial success, you must fully understand how money making and money optimisation interact with each other.
Let us look at the various sections in the money matrix:
Poor: You are in this group if you have low money-making ability and low money optimisation ability. Your income is low and you spend most of it on your living expenses. If you lose your current source of income, you risk being unable to look after your basic living needs.
Middle Class: In this group, you have medium money-making ability and low money-optimisation ability. Your income is above average but you spend most of it on a comfortable lifestyle. If you lose your current active income, you risk being unable to maintain your lifestyle.
Rich: You have high money-making ability but low money-optimisation ability. Your income is very high but you spend most of it on a luxurious lifestyle and your financial resources are not optimised. You will not be able to maintain this lifestyle if a financial disaster strikes and you lose your current active income. When we understand the behaviour that puts us into one of these three categories, we will be able to take the right steps to optimise our money. Now, let us look at the column on the right, which shows the financial health status that a person can work towards:
Self-Sufficient: If you have low money-making ability but high money-optimisation ability, you can be in this category. You may have a low income but you manage your finances very carefully. You may live a simple life, but you do not have to depend on anyone else for your survival.
Financially Free: If you have medium money-making ability but high money-optimisation ability, you can be in this group. You control your expenses so that they do not grow in tandem with your increasing income. Instead, you focus on saving or investing your extra income and as a result, you manage to accumulate a reasonable size of assets to maintain your current living standard.
Wealthy: If you have high money-making ability and high money-optimisation ability, you are in the wealthy group. You have an extremely high income and enjoy a comfortable, but not luxurious lifestyle. You turn a very high percentage of your income into savings and invest it wisely. As a result, you generate a huge passive income which is more than sufficient for your living expenses.
In addition, you have taken the necessary measures to ensure that your wealth can potentially last for generations. The money matrix is, therefore, a guide to help you find out if you need to increase your money optimisation ability or money-making ability to improve your financial position. Without fully comprehending these two elements, many people feel lost and focus on the wrong things in their journey to seek wealth. Let us take the case of Michael, who has identified himself as belonging to the middle-class section in the money matrix. Michael wants to get out of the rat race and be financially free. However, he makes the mistake of focusing solely on his money-making ability to generate more income, and ignores all aspects of money optimisation. Michael will end up in the rich section. Along the way, if something were to happen to Michael and he stopped working, Michael may find himself back at being middle class, or worse, in the poor category.
If there's one thing which could help you achieve financial freedom, and eventually become wealthy, it would be this: you must not just focus on making more money, but must optimise what you have. > Yap Ming Hui (yap@yapminghui.com) is a bestselling author, TV personality, columnist and coach on money optimisation. He heads Whitman Independent Advisors, a licenced independent financial advisory firm which has helped people to optimise their wealth and achieve financial freedom since 2000.
Rich or wealthy – which are you? MONEY & YOU BY YAP MING HUI
IN recent years, the level of household debt among Malaysians has been a matter of growing concern, as the statistics show that the average person is way over his head in debt. Based on Bank Negara figures, the typical household borrowing is a shocking 140% of disposable income. That's something to think about, as it means that at least half of Malaysians are struggling desperately with their finances. So, they probably have very little idea of how they can become financially free, let alone wealthy. Incredible, isn't it?
Most people we know would like to be free of financial worries and to enjoy a high standard of living, but so few seem to get it right. The journey towards financial success begins by first knowing where you are. Strangely, many people in the middle class find it difficult to answer this question: are you middle class, financially free or rich? In my latest book, Set Yourself Free: How To Optimise Money and Become Wealthy With Minimum Effort and Risk, I have talked about the money matrix, an intellectual tool that I have developed to help you understand the state of your finances and how you can move towards financial freedom, and eventually wealth. (see chart) Think about the various elements in the money matrix for a while, and let the ideas being discussed here get absorbed into the way you look at money. How you view these situations will determine what you do to achieve your goals. The vertical axis denotes your ability to generate an active income, which is described as your money-making ability. The higher your money-making ability, the more income you generate. You can take steps to increase your money-making ability by focusing your time, resources and effort on the area that you do best. Compared to a general practitioner, a heart specialist is able to generate a higher income. Likewise, if you are a small business owner, you could concentrate on becoming a market leader in your industry. Most people find it relatively easy to increase their money-making ability. In fact, some people become absolutely driven by it, thinking that it is the only way to resolve all their financial concerns. If you are wondering why so many people are constantly chasing their financial goals, but never seem to reach them, that's because they are focusing on making more money but not on optimising what they have!
People who adopt this mentality will always be stuck in the “rat race”. They cannot afford to stop working for fear that they cannot maintain their present lifestyle. If you are one of these people, it may be time to re-evaluate your priorities. Money optimisation, as measured on the horizontal axis of the money matrix, reflects your ability to turn your active income into assets and then using those assets to support your lifestyle in the optimal manner. In other words, money optimisation is about making your accumulated assets work for you. The higher your money optimisation ability, the more assets you will accumulate and preserve.
To achieve financial success, you must fully understand how money making and money optimisation interact with each other.
Let us look at the various sections in the money matrix:
Poor: You are in this group if you have low money-making ability and low money optimisation ability. Your income is low and you spend most of it on your living expenses. If you lose your current source of income, you risk being unable to look after your basic living needs.
Middle Class: In this group, you have medium money-making ability and low money-optimisation ability. Your income is above average but you spend most of it on a comfortable lifestyle. If you lose your current active income, you risk being unable to maintain your lifestyle.
Rich: You have high money-making ability but low money-optimisation ability. Your income is very high but you spend most of it on a luxurious lifestyle and your financial resources are not optimised. You will not be able to maintain this lifestyle if a financial disaster strikes and you lose your current active income. When we understand the behaviour that puts us into one of these three categories, we will be able to take the right steps to optimise our money. Now, let us look at the column on the right, which shows the financial health status that a person can work towards:
Self-Sufficient: If you have low money-making ability but high money-optimisation ability, you can be in this category. You may have a low income but you manage your finances very carefully. You may live a simple life, but you do not have to depend on anyone else for your survival.
Financially Free: If you have medium money-making ability but high money-optimisation ability, you can be in this group. You control your expenses so that they do not grow in tandem with your increasing income. Instead, you focus on saving or investing your extra income and as a result, you manage to accumulate a reasonable size of assets to maintain your current living standard.
Wealthy: If you have high money-making ability and high money-optimisation ability, you are in the wealthy group. You have an extremely high income and enjoy a comfortable, but not luxurious lifestyle. You turn a very high percentage of your income into savings and invest it wisely. As a result, you generate a huge passive income which is more than sufficient for your living expenses.
In addition, you have taken the necessary measures to ensure that your wealth can potentially last for generations. The money matrix is, therefore, a guide to help you find out if you need to increase your money optimisation ability or money-making ability to improve your financial position. Without fully comprehending these two elements, many people feel lost and focus on the wrong things in their journey to seek wealth. Let us take the case of Michael, who has identified himself as belonging to the middle-class section in the money matrix. Michael wants to get out of the rat race and be financially free. However, he makes the mistake of focusing solely on his money-making ability to generate more income, and ignores all aspects of money optimisation. Michael will end up in the rich section. Along the way, if something were to happen to Michael and he stopped working, Michael may find himself back at being middle class, or worse, in the poor category.
If there's one thing which could help you achieve financial freedom, and eventually become wealthy, it would be this: you must not just focus on making more money, but must optimise what you have. > Yap Ming Hui (yap@yapminghui.com) is a bestselling author, TV personality, columnist and coach on money optimisation. He heads Whitman Independent Advisors, a licenced independent financial advisory firm which has helped people to optimise their wealth and achieve financial freedom since 2000.
Tuesday, November 6, 2012
Hibernation
Now, i'm in hibernation mode. For how long...i don't know. My wound not fully recovered yet. Need to get more capital to invest in the future. Human is always forget and never learned from past mistakes. Is my decision to swim with the crocs the wise move? Maybe yes or maybe not. Yes if i can make profit and not losing money in market...no if i lost my pants all...High risk high return...That's the trap sentence to lure jump to the river... Depend on your risk appetite. Yes, appetite is very high but cannot control the food we eat. It's dangerous. Choking and die. Haha.
Saturday, October 20, 2012
Cybert start moving
aha..Cybert start moving after she burned my finger. the last price cleared at 21.5 if not mistaken. yesterday it was pushed upmote than that. i hope it was not a one day affair to attract the stupid buyer. ...let's see the game show.
At the moment i'm looking the market from the side line. no capital no trade. I have to get new power, energy, strenght to face the reality of share market..Never learned from pasy mistakes.Again and again doing the same mistakes. Time for soul searching.
The other stock i like is 3A moving to 1.20. expected to go 1.30.
.
At the moment i'm looking the market from the side line. no capital no trade. I have to get new power, energy, strenght to face the reality of share market..Never learned from pasy mistakes.Again and again doing the same mistakes. Time for soul searching.
The other stock i like is 3A moving to 1.20. expected to go 1.30.
.
Tuesday, October 16, 2012
How to solve my debt problem??
Anything happen in our life is our fault due to our stupidity,ignorance and lacks of ed experience...Why our debt increasing every year. Spend > income. Our income also not increasing every year.
Actually...if can put our debt in one account and we spread payment for few years then we easily manage the debts.
most the sent come from credit card. One solution is to cut down the card and only using the cards that give a lot benefit to us like when we use the cards we can get discount esp from petrol station..
or daily shopping at supermarket.
Actually...if can put our debt in one account and we spread payment for few years then we easily manage the debts.
most the sent come from credit card. One solution is to cut down the card and only using the cards that give a lot benefit to us like when we use the cards we can get discount esp from petrol station..
or daily shopping at supermarket.
Wednesday, October 10, 2012
Woke up from slumber
My previous shares has been woke up from slumber ie MAS and 3A. Unfortunately i don't have any more holding in this stocks. I got 20K CSL wa- which i thought i'm not entitled with the warrant. Late entry by my stockbroker save my investment a lot. If not, for sure i will sell it early. I have sold all at 22 cent.
MAS : last sold at 99.5 cent now up to 1.07
3A : last sold at 99 cents now up 1.09 closed yesterday at 1.06.
Whoaaaa soo much profit if i keep it.. No if if in trading. Action speaks volume.
That's why we need holding power to keep longer....but only to certain shares. Not speculative one.
MAS : last sold at 99.5 cent now up to 1.07
3A : last sold at 99 cents now up 1.09 closed yesterday at 1.06.
Whoaaaa soo much profit if i keep it.. No if if in trading. Action speaks volume.
That's why we need holding power to keep longer....but only to certain shares. Not speculative one.
Monday, October 1, 2012
Mental Stresss
Who says that trading is not stress.? I have Been in the market for sometimes and always feel stress when I take position. If your share is up then you feel a bit happy. If down then it's the time feel a lot of stress. Especially when you take a huge position in the trade.
I have already made my decision to stop my trading and fully get out from market. Not that I'm frustrated but to see what when wrong with my decision in every trade. I have to blame myself for this market loss. The fourth one in history. Never learn the lesson from previous trading.
I have loss more 50% from my capital investments. Haha lucky my wife don't know. If not a big fight. Life is like that.
Friday, September 28, 2012
Take a break
I think i need to take a break from trading for a while to overhaul what's went wrong with my trading. This is the 4th attempt to make profit from KLSE but loss badly in the trading. Human is human. Human always making error in life but we should try to minimise the error. We should learn how to avoid the error.
Same errors repeat again...
1. Stupidity - don't know how to trade after bonus....Loss unnecessarily..
2. Still buying the speculative stocks....my mentality should change
3. No patient..to difficult to control
4. Limited cashflow.....how??
5. Need more skills....read more book...Maybe learning with virtual money..
Same errors repeat again...
1. Stupidity - don't know how to trade after bonus....Loss unnecessarily..
2. Still buying the speculative stocks....my mentality should change
3. No patient..to difficult to control
4. Limited cashflow.....how??
5. Need more skills....read more book...Maybe learning with virtual money..
Wednesday, September 26, 2012
Update for 26 Sept 12
Djia closed in red last night. Expected our klse also follow the same path today. Be ready for a wave of red sea today. But market always unpredictable. When u think green it's become red, when u think red it's become green.
My position still in
1. Biosis still left some to clear
2. Mas not moving...waiting to clear all today
3. 3A cleared all yesterday. Loss even up to 1.01. Not expected to go up then go up. What the hell? Please don't curse... i should blame myself.
My position still in
1. Biosis still left some to clear
2. Mas not moving...waiting to clear all today
3. 3A cleared all yesterday. Loss even up to 1.01. Not expected to go up then go up. What the hell? Please don't curse... i should blame myself.
Tuesday, September 25, 2012
update market
Market still in the red yesterday. Djia closed in negative territory last night. Expect klse also in the negative. But expect the unexpected. Market in the correction mode while waiting budget announcements.
My share also in negatives. So still on losing territories.
Mas : closed at 1.00.
3A : closed at 98.5 cent.
wait and see today. Waiting to clear all.
Friday, September 21, 2012
Bay Day in KLSE
Hahha ...another mega sale today. As expected, all in the red even though positive in the morning. Peoples are prefer to stay in the sideline in the current situation.
My share:
Biosis : maintained at 35.5 but i sold half at 36cents. Waiting to clear all
CSL: claered all at1.09 and 1.10. No more holding.
New Buy:
Mas : $1.01
3A : $99.5
we will see next week....become gold or dirty soil.
My share:
Biosis : maintained at 35.5 but i sold half at 36cents. Waiting to clear all
CSL: claered all at1.09 and 1.10. No more holding.
New Buy:
Mas : $1.01
3A : $99.5
we will see next week....become gold or dirty soil.
Thursday, September 20, 2012
Another MEGA SALE today
Wahhh...market closed red today. Most of the stock in the red. Woow..as i mentioned before the market is unpredictable...manupulation by big sharks and big crocodiles. Hahha...So how are we today??? Another story of the finger burn badly....
My share :
Biosis : badly beaten down till 35.5 cents. Unexpected!! What ?? That is market that we must understand.
CSL : keep it at 1.09. Unexpected also!!! What??? Market is like that. Seem the sharks still keeping this stocks. Maybe can go higher. See tomorrow..
My share :
Biosis : badly beaten down till 35.5 cents. Unexpected!! What ?? That is market that we must understand.
CSL : keep it at 1.09. Unexpected also!!! What??? Market is like that. Seem the sharks still keeping this stocks. Maybe can go higher. See tomorrow..
Wednesday, September 19, 2012
How to touch things become GOLD??
GOLD is a precious metal and many people attracted to it. Gold also can be used as money...because gold can change to money anywhere and everywhere. How to get gold??
1. Buying gold
2. Buying shares and turn to gold. How?? That the difficult part. The problem is when you touch them it become dirty soil not gold. So you keep collecting dirty soil wihout any gold inside...so keep learning and study till the soil become gold. Hahhha.
Today, try to change the soil to gold. Wait and see...Hope not dirty soil.
1. Buying gold
2. Buying shares and turn to gold. How?? That the difficult part. The problem is when you touch them it become dirty soil not gold. So you keep collecting dirty soil wihout any gold inside...so keep learning and study till the soil become gold. Hahhha.
Today, try to change the soil to gold. Wait and see...Hope not dirty soil.
Tuesday, September 18, 2012
Update after 5pm
Hahha...market is always crazy...
Sell 100K ingens at 38.5 hoping pressed down further but closed at 39.0 cents. No if if. Action first and talk. So not making any gain today.......Learn some more....Hahhhha... Accumulating mode...up? or down?
Buy CSL as planned at 1.09 (30K)...closed at 1.08. Plan to clear if going up to 1.11 or 1.12 tomorrow.
Buy Biosis 35K at 40 cents but closed at 39.5 cents.. waiting for shot up. Be ready!!!. To accumulate more if drops. Accumulating...
Sell 100K ingens at 38.5 hoping pressed down further but closed at 39.0 cents. No if if. Action first and talk. So not making any gain today.......Learn some more....Hahhhha... Accumulating mode...up? or down?
Buy CSL as planned at 1.09 (30K)...closed at 1.08. Plan to clear if going up to 1.11 or 1.12 tomorrow.
Buy Biosis 35K at 40 cents but closed at 39.5 cents.. waiting for shot up. Be ready!!!. To accumulate more if drops. Accumulating...
Happy Malaysia Day
Back to work and back to klse. Djia closed red last night. so klse klse also will follow red today. so what is the plan today?? Sell???
okay..we will see what happening first nad decide. market is the crazy place...when u expect down it' s up and otherwise...
okay..we will see what happening first nad decide. market is the crazy place...when u expect down it' s up and otherwise...
Friday, September 14, 2012
Market always unpredictable
Sorry, yesterday i'm forgotten to write something here even though so much thing happening in market. Like Airasia beaten down and rebound back yesterday and today. DJIA at all time highdue to QE3....so the market react positively.
MY position now(today)
Buy back BIOSIS : 30K at 39.5 after selling all the shares bought earlier. Some loss and some gain then even finally. At least i can hold longer if buy back. I see the price will be shoot up in near fuuture....let's see.
CSL : up and down. Clear all at 1.11 and 1.12 but cannot pick up at lowest price today. I will buy back tommoroow at 1.08 or lower. Sell at 1.12 or 1.13.. Still in the loss if not considered the free warrant...
Ingens:: This one is suicide mission....Sell at 0.19cents today and buy back at 18.5 cents. Unlucky the price beaten down till 16.5 cent after i bought it. Always happen like, when buying only price down if not buying the price going up. So difficult to find the trap.Maybe bobby trap....Need learn some more.. So scary. Lucky closed at 18.5 cents. Next week, see what happen....
MY position now(today)
Buy back BIOSIS : 30K at 39.5 after selling all the shares bought earlier. Some loss and some gain then even finally. At least i can hold longer if buy back. I see the price will be shoot up in near fuuture....let's see.
CSL : up and down. Clear all at 1.11 and 1.12 but cannot pick up at lowest price today. I will buy back tommoroow at 1.08 or lower. Sell at 1.12 or 1.13.. Still in the loss if not considered the free warrant...
Ingens:: This one is suicide mission....Sell at 0.19cents today and buy back at 18.5 cents. Unlucky the price beaten down till 16.5 cent after i bought it. Always happen like, when buying only price down if not buying the price going up. So difficult to find the trap.Maybe bobby trap....Need learn some more.. So scary. Lucky closed at 18.5 cents. Next week, see what happen....
Wednesday, September 12, 2012
Stay cautious
Market doesn't look good even DJIA closed in positive last night. Most the stock in the red position..No buying today and wait for clear signal.
Planning : to clear all the stocks and keep cash. Wait for the crash... Haha.. May be not.. Election around the corner.
CSL : not moving
Bornoil: same
Biosis: pressed down yesterday.. cautious mode today
Let see the fun fair first..
Planning : to clear all the stocks and keep cash. Wait for the crash... Haha.. May be not.. Election around the corner.
CSL : not moving
Bornoil: same
Biosis: pressed down yesterday.. cautious mode today
Let see the fun fair first..
Tuesday, September 11, 2012
ANOTHER GRAND SALE TODAY !!!HURRY
yes, today klse had another grand sale. Almost the stocks are in the discounted price. Unlucky, not enough bullet to shot. However, the selling not that severe. Well absoorbed, maybe to push back in the evening. I want to collect more but ................fund already stucked. Hahha...
Biosis : add some more..
Bornoil : waiting to clear
CSL : have to wait......
Biosis : add some more..
Bornoil : waiting to clear
CSL : have to wait......
Update for yesterday trading
CSL : traded at 1.08 yesterday. I don't know that yesterday is ex date for bonus - warrant entitlement. Quite shock initially then feel relieved after knew that. I have feeling that the price should traded higher if no warrant...however there was effort to push higher than 1.08 and managed to close at 1.09. Let's see today. Planning to clear half and keep it half.
Biosis : managed to sell yeserday at 42.5 cents.
Bornoil : will clear today if the price is right. Pushed down with doji formed yesterday. closed at 42.5..Strategy maybe sell first then buy at lower price.
Biosis : managed to sell yeserday at 42.5 cents.
Bornoil : will clear today if the price is right. Pushed down with doji formed yesterday. closed at 42.5..Strategy maybe sell first then buy at lower price.
Friday, September 7, 2012
Grand sale
There was a grand sale in KLSE for the past 2 days. For those who bought at higher price before sale for sure can't sleep well. Today, the market turn positive again...so buy again. Then next week falling down. Another losses in the making. Hahaa... Never learn..
In trading no lucky or unlucky. Experience and look at the surrounding are important in trading. Feel the environment. Like doing an election, feel the ground problems and matters. Then you know what is happening right now.
Transaction today :
CSL : buy 40K at 1.185....Chart looks promising. Short term and longer term look good. Hope can closed above 1.20 today and the near target is 1.23 - 1.25.
Bornoil : not moving much. waiting to clear all.
Biosis : also not moving much...may keep longer.
In trading no lucky or unlucky. Experience and look at the surrounding are important in trading. Feel the environment. Like doing an election, feel the ground problems and matters. Then you know what is happening right now.
Transaction today :
CSL : buy 40K at 1.185....Chart looks promising. Short term and longer term look good. Hope can closed above 1.20 today and the near target is 1.23 - 1.25.
Bornoil : not moving much. waiting to clear all.
Biosis : also not moving much...may keep longer.
Thursday, September 6, 2012
Update 5/9/12
Wow, yesterday most the penny stocked was pushed down badly early morning yesterday. However, some of the stock showed some improvement towards the end of trading day even though closed in negative territory. Quite scary when you see the sea of red. That's is the nature of trading where we have to bear for any circumstances.
New buying:
Bornoil - 20K at 41cents... Somebody accumulated. The chart also forming ascending triangle.. Wait and see today. Maybe breakout??
Bornoil - bought 30K at 42.5cents...still well supported at this price( MA50)...
Cybert--- badly pushed down. Cannot stand anymore. No recovery insight..Very late action but have to do.Cut loooooss.. Massive loss( the highest in history)...Who to blame ???? Me..........never learn....
New buying:
Bornoil - 20K at 41cents... Somebody accumulated. The chart also forming ascending triangle.. Wait and see today. Maybe breakout??
Bornoil - bought 30K at 42.5cents...still well supported at this price( MA50)...
Tuesday, September 4, 2012
Update
Yesterday, i bought again share Bornoil (30K) at 42.5 cents , hoping recover from the downtrend. At the moment, it was supported well at 50MA. Wait and see today.
Cybert - not much activity...Pray hard to pushed up again
Planning : to clear all
Tuesday, August 28, 2012
Making another stupid mistake
hahhha....human never learn. WTH...So many times i have done the trading sooo many times but still making the same silly mistake and never take action promptly and smartly. Walao wei.
My position :
Cybert : not moving much...lossssssing..nobody interested
Bornoil : another lossssing in the making.. haha.. slowly dumped till 42 cents. I should??? sell yesterday...can use "should" ma?? That's no meaning for "should" in the trading.. "Action" yes...
dont forget rule no 1: never lose your money..
My position :
Cybert : not moving much...lossssssing..nobody interested
Bornoil : another lossssing in the making.. haha.. slowly dumped till 42 cents. I should??? sell yesterday...can use "should" ma?? That's no meaning for "should" in the trading.. "Action" yes...
dont forget rule no 1: never lose your money..
Thursday, August 23, 2012
After raya transaction
I bought CSL at 1.15 and 3A at 1.13 before raya. Csl was depressed yesterday to 1.13 and pushed up to 1.15 today. I hv cleared my position today and wait for lower price.
3A cleared at 1.15 today though it pudhef to 1.17.
i buy back Bornoil at 47.5 and 48 cent. it pushed to 49 but cannot sustained. wait and see tomorrow.
cybert ... no strenght to move higher....
3A cleared at 1.15 today though it pudhef to 1.17.
i buy back Bornoil at 47.5 and 48 cent. it pushed to 49 but cannot sustained. wait and see tomorrow.
cybert ... no strenght to move higher....
Wednesday, August 15, 2012
update my latest transaction
3A started to move today. I managed to buy yesterday 13k at 1.14 before closed 1.13. I hve cleared at 1.17 today 10k. Hope not a one day affair. balancr 3 k wait and see.
CSL . bought back at 1.15 but sold.at 1.13...unlucky syndycate pushed back above 1.15. Expected to close lower. Maybe i buy back later at 1.13...to minimize losses.
CSL . bought back at 1.15 but sold.at 1.13...unlucky syndycate pushed back above 1.15. Expected to close lower. Maybe i buy back later at 1.13...to minimize losses.
Update
CSL : moving strongly today. Some already disposed yesterday due to T&3. Today, i have some for T&4..Lucky day..
Cybert: not moving much. Still accumulating phase...Maybe add some positon at 29.5 cents..
3A : disposed yesterday at 1.05(buying price) due to T&3.. still no strenght for rebound.
Cybert: not moving much. Still accumulating phase...Maybe add some positon at 29.5 cents..
3A : disposed yesterday at 1.05(buying price) due to T&3.. still no strenght for rebound.
Thursday, August 9, 2012
Latest Position
1. Cybert - late pushing to 32 cents yesterday. Today pushed down to remove the contra player. Expected to move higher. Plan to dispose all my position if above 37 cents
2. CSL - my new position. bought at 1.02 (10k shares)
3 . 3A - 9000 AT 1.15 (9K SHARES)
Thursday, August 2, 2012
Trading for today
no buying today. Cybert still no strenght to rebound. Syndycate distributing to the late comer. No sign to get up again. so more longer i have to keep thiS stock. another 30000 shares due today. i have to let it go...and see what happening after this.
I manage to sell CSL today at 1.05 today. Balance not yet cleared. Actually, my stock already due and waiting for force selling only..Hope the price not closed below than 1.03.
Update :
No force selling yet for my Cybert and CSL. Hope , they will rebound tomorrow. So the losses will be less. Hahha..Cybert is pressed down today and closed at 30.5 cent. My losses also increasing... Stop loss...maybe.
I manage to sell CSL today at 1.05 today. Balance not yet cleared. Actually, my stock already due and waiting for force selling only..Hope the price not closed below than 1.03.
Update :
No force selling yet for my Cybert and CSL. Hope , they will rebound tomorrow. So the losses will be less. Hahha..Cybert is pressed down today and closed at 30.5 cent. My losses also increasing... Stop loss...maybe.
Wednesday, August 1, 2012
Long term or short term trading??
When we invest/trade, we want to make money. Some stock will increase the price in short term which normally happen in high speculative stock with high risk to get burned. It's depend on our style of trading. The best tactic use in this trading is FIFO( fast in and fast out). This style of trading is suitable for those familiar with the movement and tactics use by the syndicate....
Long term trading is a bit safer. However, the time for realised the profit is longer and i feel not challenging. So, good stock should be traded this way. Slow but almost sure get the profit.
I like short term trading because of few advantage.
1. Easy in easy out
2. Limited capital
3. Move to the high chance to make profit counter.
Update my stock:
Cybert : modus operandi still the same. Pushed a bit the let the price down....Haiyo cannot tahan la.....Syndicate please push more la> LOL
CSL ---look like somebody collecting.. Ripe for rebound now...Unlucky today my T+3 day. Ha ha. Lets see.
Long term trading is a bit safer. However, the time for realised the profit is longer and i feel not challenging. So, good stock should be traded this way. Slow but almost sure get the profit.
I like short term trading because of few advantage.
1. Easy in easy out
2. Limited capital
3. Move to the high chance to make profit counter.
Update my stock:
Cybert : modus operandi still the same. Pushed a bit the let the price down....Haiyo cannot tahan la.....Syndicate please push more la> LOL
CSL ---look like somebody collecting.. Ripe for rebound now...Unlucky today my T+3 day. Ha ha. Lets see.
Tuesday, July 31, 2012
Stuck....stuck
ha ha.. Cybert not moving much. Last close at 33.0 cent today. Still low compared my purchase price. Even though, some activity to push higher but the stale bulls still in the upper hand. Must wait longer till the seller exhausted. I want to get out from this Cybert please....Add some more yesterday at 33.5 cent. Queue to sell at 34.5 not success.
CSL also not much activity. Pressed down to 1.01 today. I had 20000 at 1.02..Maybe tomorrow, somebody pushed the shares up to the sky.. Still i use hope analysis....The booster rocket will come in shortly..Hahhhhha..I also want to dispose this shares.
CSL also not much activity. Pressed down to 1.01 today. I had 20000 at 1.02..Maybe tomorrow, somebody pushed the shares up to the sky.. Still i use hope analysis....The booster rocket will come in shortly..Hahhhhha..I also want to dispose this shares.
Monday, July 30, 2012
Cybert update
ha ha . cybert still not recover from the selling pressure. Hope can recover tomorrow. Very high risk to trade on this counter.
Gtronic sold all my position. make some money.
CSL not moving. collect some more. at 1.02. hope it will move tomorrow.
Gtronic sold all my position. make some money.
CSL not moving. collect some more. at 1.02. hope it will move tomorrow.
Saturday, July 28, 2012
Never learn
I have big position in Cybert. At the moment, i have collected Cybert at the average price of 0.370 cent. This time i have done big mistake in timing and slow execution has to be blamed. I expect this counter will be closed higher next week. Be patient for time to come.
I want to get out from Cybert and concentrate to other counter. I also has smalll position in CSL and Gtronic. This 2 counter in the accumulation phase. Get ready for pushng to the sky next week? Ha ha. I hope so....Hope analysis. Bye
Wednesday, July 25, 2012
new position
Update at 5pm
No momentum to push higher today. Selling pressure from the rebound yesterday. See tomorrow for next of action. If still closed down lower than 35.5 , better sell or keep for longer period.
Tuesday, July 24, 2012
Fear factor
As expected, ,Cybert has rebounded today till 37.5 cents. I have position at 34.5 cents and sell at 35.5 cents. I 'm not happy with my action coz i gain very minimal. Why? Fear for losing money. My past experience always make me more cautious when buying or selling the share especially share with "high risk" category or goreng stock. some more, i don't have time to monitor closely and distracted with other thing. That's why i have queue at lower price. Most important is gain...Remember..don't be greedy.
Monday, July 23, 2012
Cybert
I have taken small position in cybert today but a little late to take position. Manage to get at 31.5 cents.. Chart shows well suppported at 31.5 cents. If it can take out 32 cent, then it will move higher.
Update at 5.30pm
Look like accumulation done at 31.5 to 32 cents. Maybe the syndicate accumulate to push the share higher. I will take the position tomorrow at level 31.5 and 32 cents. Ready for higher price.
Update at 5.30pm
Look like accumulation done at 31.5 to 32 cents. Maybe the syndicate accumulate to push the share higher. I will take the position tomorrow at level 31.5 and 32 cents. Ready for higher price.
Friday, July 20, 2012
Cybert Update
Cybert still in the selling mode yesterday. I don't know what's going on this company. Any plan or major restructuring?? UMA - show nothing.
But the selling look higher compared to previous day with the price moving down slower. It's good sign for rebound. We have to wait for today for any change of direction. I will take small position today. I think the price will be supported at this level. Let's see.
update at 5pm: close above 32 cent. expected to close and above 32 cents next week. take another position small only.
But the selling look higher compared to previous day with the price moving down slower. It's good sign for rebound. We have to wait for today for any change of direction. I will take small position today. I think the price will be supported at this level. Let's see.
Thursday, July 19, 2012
Making same mistake again
Ha ha human being very difficult to change the attitude and feeling arrogant. Trading like the pro but the execution like the amateur. At the end, the same silly mistake done over and over again.
Become a big loser.
Yes, yesterday I'm losing 1.5 K in one day. But still low compared what i did last time. From the small winner, i'm became a big loser.
Silly mistakes recognised:
1. Greedy - win small but want win big.
2. Late execution
3. Risky trade
4. Distraction with other thing.
5. Choose the wrong counter.
Update on Cybert:
Repeat the same pattern...
Make small win...not to repeat yesterday mistake..Ok
Become a big loser.
Yes, yesterday I'm losing 1.5 K in one day. But still low compared what i did last time. From the small winner, i'm became a big loser.
Silly mistakes recognised:
1. Greedy - win small but want win big.
2. Late execution
3. Risky trade
4. Distraction with other thing.
5. Choose the wrong counter.
Update on Cybert:
Repeat the same pattern...
Make small win...not to repeat yesterday mistake..Ok
Wednesday, July 18, 2012
Cybertower - stock for the day
Update at 11.11am
Update at 12.30pm
Selling not yet over.........waiting at 0.30 cents
Friday, July 6, 2012
Buying The IPO
Malaysia recently regarded as the one of the country that against the current trend in IPO. The most recent IPO is FGVH successfully listed with acceptable premium. The next IPO is IHH-the largest Integrated healthcare in ASIA will be floated on 25 July 2012. The response so far is quite encouraging. I think this IHH will be performed well.
Tomorrow, i will submit my application for 10lot...Money! Money!
Tomorrow, i will submit my application for 10lot...Money! Money!
Saturday, June 30, 2012
Choose the right career
Tomorrow i will be sending my sister to college of nursing. That the career she choose for her future. She's quite interested in nursing since secondary school. So,i hope she will succeed to achieve her dream. Choosing the right career is very important in life so we can make our goal and plan the future well.
Wednesday, June 27, 2012
Financial freedom
Copy directly from blog CPTeh. I feel the same as what he has gone through with financial hardship and challenge to be a good people and good in managing money.
Financial Freedom
What is 'financially free' meant for you? As it is defined differently for different people and their needes ... generally we are talking about FREEDOM ... financially means, we can afford to have things that we need and not to worry much about the amount of 'money' spent.
It could means ... we do not need a full-time job, if we do not want to work. It could means ... we are FREE ... to go anywhere or buying anything(within normal simple human needs) ... and could stay afloat, financially.
What is it meant to me, a simple ah-pek without much material-needs?
First, I do not need to have a full-time teaching job. I have been teaching for past 22 years ... loving it but it is lowly paid. SERIOUS ... with below RM60k per year, I am in a averagely LOW income bracket. My youngest brother is earning 40% more than me now!! The low income would not give me much to save ... in fact, my current family expenses is higher than my full-time salary. You need to check that these lecturers are of low-average income people who could not afford anything much. Well, unless their parents are 'rich' ... that is another story la.
So, I will not need to work under tremendous stress of teaching and loads of paperworks ... if I am financially 'free'. If I am to rely only on my salary, I am broke and living in credits now(will you please donate RM5 per month ... I promised to write interesting posts, ok?) ... salary itself is NOT enough in my case. I have houses, a car ... two on-goings kinder kids. I can say that my kids like good restaurants! Ouch.
Secondly, I will have TIME ... free time to do what I like to do. What will I do if I m not working? Being a simple person, I just wish to sit in a library ... for few hours doing some readings(of my interests). I will surf the net ... to check on some relevent news(who married Lau Tak Wah or who killed the Mongolian lady is not of my concerns).
TIME is money for me at the moment ... besides my full-time job, 8am to 4pm, I do have to complement my low-income with tuition classes. Based on my rate(RM120 pr hour), I need 10 hours of classes per week to earn my 'salary'. So, that would be around RM100k per year now. Thank God for providing me streams of students ... looking for me for tuition. I do still need few more classes, and if I need to teach during weekends and nights, I will ... exchange my TIME = MONEY. Yes, it is a good income .... but I still need to be there ... to teach. No tuition, no classes ... no income.
With the E-quadrant and S-quadrant filling most of my waking time, I have little time left ... I do not have entertainment in my lives(since 7 years ago after reading RDPD and understanding delay gratification concepts of persoanl finances) ... the only joy I could have is few short moments playing with my kids!!
Anyway, to make TIME ... I have to wake up when many still sleeping ... and sleep late at nights. TIME ... to read, to reflect, to plan ... to think ... to imagine ... time to analyse ... and I did not rest much, did I? Hmm ...
Moving into B-quadrant ... that was tough and faced failures so far. But, I know I will move away from E to B ... once given the chance. With my tratles group growing, I may want to find some partners there ... those willing to work togther, having similar goals ... of acheiving our business-goals. NOTHING is without RISK ... failing is just a norm. Take it. And do check these pages to see if I m moving to B-quadrant ... perhaps those skeptical and cynical readers may want to see me 'fail'? Dont worry, even if I failed my ventures OR fail to even start ... I will still write it here(for my records and viewings) ... and reflect and pull myself UP again. Winners do not quit, right?
I am in the I-quadrant ... have struggled to understand financial instruments ... trading and investing in equity-markets. I have learnt to take advantage of the 'mis-pricing', fundamentally and technically. I am sharing it with many ... and as I am having my own trading-group now, the money I earned will still directly moving into I-quadrant. Yes, do not use those 'extra' money you have earned or profitted ... let it grow and compound. If one could get a 10-20% profits per year ... that is GOOD and that is how we grow our accounts ... slow and consistent. I am teaching my tratles that ... we want to learn fundamentals ... we want to learn to trade ... we want to take profits and with increasing knowledge and experiences, our trades will be more consistently profittable. Be patient ... it will grow(at least I hv grown my well).
So ... what is financially free for me? To be able to have my own free time to do simple things I like, not needing to answer to my immediate bosses, struggling with paper-works ... and tied to a place!!
Am I going to acheive my simple goal? How much of MONEY do I need in my a/c for me to consider as financially free? RM1 million? Hmm ... to me, it is NOT the amount. As I do not spend much(and I dont see myself change my frugal life-style) ... the amount is just a number. But it needs to be significant amount to cover my kids schooling expenses, to cover health expenses, daily expenses ... and some extras for charity.
I do have my very own defination of 'financiall free' ... and being simple and humble is good. It is easier to achieve and more realistic. Honestly, I do see my chances of financially free ... a reality in 5 years to come. I am 45 ... by 50, I do hope I wont need a full-time job, I will teach Maths or Trading for passing of my time(and teaching is my passion ... hopefully, I could reach out to help more newbies in markets ... and my whole group will continue to help others!!) ... and I will like to take lives SLOW ... retiring in Sabah and Penang/Malacca. These are all in my plans now ...
I will write a book ... I hope the proceeds will go to some charity or perhaps, I could start a 'foundation' ... in helping many traders/investors who are losing money and needs education. Seriously, MANY do need education to be in markets. I hope to provide that platform, one day ... with the help of my tratles.
Note : Since 1st Jan 2011, my counters hit 500, 000 yesterday. Thanks for being such a nice audience. I am still motivated to blog ... and write what in mind or what I am doing(minus chart analysis which only shared with my groups).
Thanks!!
For reading purposes : Taken from http://www.millionaireacts.com/
Quadrant 1 – EMPLOYEES. I do think that most of us belongs here. We have a job. We have to work hard, follow instructions from our bosses and superiors and get paid. We don’t own our time. These are people who love security or tenure. They will work hard to climb up the corporate ladder. The higher they climbed the ladder, the higher they pay is. Sad to say, the higher their pay is, the higher also their taxes. And it’s not them getting rich, it’s their bosses, it’s their company. Time will come, they will get tired. Their body will collapse because of age. And when they stopped working, they will also stop receiving income.
Quadrant 2 – SELF EMPLOYED – They work for themselves. The difference with the employees is that self-employed own their time since they don’t have superiors. They can decide for themselves. These are people who loves to be independent. They don’t want to work for others, instead they want to work for themselves. These are doctors, lawyers, and small business owners. But still, they are an employee of themselves. And if they stopped working, they will also stop receiving income.
Quadrant 3 – BIG BUSINESS OWNERS – They love delegating tasks. They concentrate their efforts more on activities which produces most profits. They hire people who are more intelligent than them to do the work for them. They have built a solid system and they own it. They have built their resources to make this possible. And so they can leave for vacation and can leave work for some time but still earns money because there were people working for them. Examples of this are the taipans and tycoons and some franchisers who have built a solid business.
Quadrant 4 – INVESTORS – These are people who have built their assets and are not working for money anymore. Instead, the assets they have accumulated works for them providing them constant income even if they don’t work. These are people who are called “living on interests”. They are living thru the interests of their assets and investments. Money works for them. They have invested their money to have more money. They can differentiate which one is an asset and which one is a liability. Examples of these are investors in the stock market, real estate, etc.
Did you see the difference? The only way to escape from the rat race is by travelling from active income to passive income, from employee or self-employed to becoming a big business owner or investor. And this is the challenge that Robert Kiyosaki left to us readers.
As a final note, I’m leaving this quote from Mr. Kiyosaki.
“The rich buy assets. The poor only have expenses. The middle class buys liabilities they think are assets. The poor and the middle class work for money. The rich have money work for them.”
----------------------------------------------------------
Wish me luck on my journey to be 'financially free'. Do you think I could achieve that?!
TEH
It could means ... we do not need a full-time job, if we do not want to work. It could means ... we are FREE ... to go anywhere or buying anything(within normal simple human needs) ... and could stay afloat, financially.
What is it meant to me, a simple ah-pek without much material-needs?
First, I do not need to have a full-time teaching job. I have been teaching for past 22 years ... loving it but it is lowly paid. SERIOUS ... with below RM60k per year, I am in a averagely LOW income bracket. My youngest brother is earning 40% more than me now!! The low income would not give me much to save ... in fact, my current family expenses is higher than my full-time salary. You need to check that these lecturers are of low-average income people who could not afford anything much. Well, unless their parents are 'rich' ... that is another story la.
So, I will not need to work under tremendous stress of teaching and loads of paperworks ... if I am financially 'free'. If I am to rely only on my salary, I am broke and living in credits now(will you please donate RM5 per month ... I promised to write interesting posts, ok?) ... salary itself is NOT enough in my case. I have houses, a car ... two on-goings kinder kids. I can say that my kids like good restaurants! Ouch.
Secondly, I will have TIME ... free time to do what I like to do. What will I do if I m not working? Being a simple person, I just wish to sit in a library ... for few hours doing some readings(of my interests). I will surf the net ... to check on some relevent news(who married Lau Tak Wah or who killed the Mongolian lady is not of my concerns).
TIME is money for me at the moment ... besides my full-time job, 8am to 4pm, I do have to complement my low-income with tuition classes. Based on my rate(RM120 pr hour), I need 10 hours of classes per week to earn my 'salary'. So, that would be around RM100k per year now. Thank God for providing me streams of students ... looking for me for tuition. I do still need few more classes, and if I need to teach during weekends and nights, I will ... exchange my TIME = MONEY. Yes, it is a good income .... but I still need to be there ... to teach. No tuition, no classes ... no income.
With the E-quadrant and S-quadrant filling most of my waking time, I have little time left ... I do not have entertainment in my lives(since 7 years ago after reading RDPD and understanding delay gratification concepts of persoanl finances) ... the only joy I could have is few short moments playing with my kids!!
Anyway, to make TIME ... I have to wake up when many still sleeping ... and sleep late at nights. TIME ... to read, to reflect, to plan ... to think ... to imagine ... time to analyse ... and I did not rest much, did I? Hmm ...
Moving into B-quadrant ... that was tough and faced failures so far. But, I know I will move away from E to B ... once given the chance. With my tratles group growing, I may want to find some partners there ... those willing to work togther, having similar goals ... of acheiving our business-goals. NOTHING is without RISK ... failing is just a norm. Take it. And do check these pages to see if I m moving to B-quadrant ... perhaps those skeptical and cynical readers may want to see me 'fail'? Dont worry, even if I failed my ventures OR fail to even start ... I will still write it here(for my records and viewings) ... and reflect and pull myself UP again. Winners do not quit, right?
I am in the I-quadrant ... have struggled to understand financial instruments ... trading and investing in equity-markets. I have learnt to take advantage of the 'mis-pricing', fundamentally and technically. I am sharing it with many ... and as I am having my own trading-group now, the money I earned will still directly moving into I-quadrant. Yes, do not use those 'extra' money you have earned or profitted ... let it grow and compound. If one could get a 10-20% profits per year ... that is GOOD and that is how we grow our accounts ... slow and consistent. I am teaching my tratles that ... we want to learn fundamentals ... we want to learn to trade ... we want to take profits and with increasing knowledge and experiences, our trades will be more consistently profittable. Be patient ... it will grow(at least I hv grown my well).
So ... what is financially free for me? To be able to have my own free time to do simple things I like, not needing to answer to my immediate bosses, struggling with paper-works ... and tied to a place!!
Am I going to acheive my simple goal? How much of MONEY do I need in my a/c for me to consider as financially free? RM1 million? Hmm ... to me, it is NOT the amount. As I do not spend much(and I dont see myself change my frugal life-style) ... the amount is just a number. But it needs to be significant amount to cover my kids schooling expenses, to cover health expenses, daily expenses ... and some extras for charity.
I do have my very own defination of 'financiall free' ... and being simple and humble is good. It is easier to achieve and more realistic. Honestly, I do see my chances of financially free ... a reality in 5 years to come. I am 45 ... by 50, I do hope I wont need a full-time job, I will teach Maths or Trading for passing of my time(and teaching is my passion ... hopefully, I could reach out to help more newbies in markets ... and my whole group will continue to help others!!) ... and I will like to take lives SLOW ... retiring in Sabah and Penang/Malacca. These are all in my plans now ...
I will write a book ... I hope the proceeds will go to some charity or perhaps, I could start a 'foundation' ... in helping many traders/investors who are losing money and needs education. Seriously, MANY do need education to be in markets. I hope to provide that platform, one day ... with the help of my tratles.
Note : Since 1st Jan 2011, my counters hit 500, 000 yesterday. Thanks for being such a nice audience. I am still motivated to blog ... and write what in mind or what I am doing(minus chart analysis which only shared with my groups).
Thanks!!
For reading purposes : Taken from http://www.millionaireacts.com/
Quadrant 1 – EMPLOYEES. I do think that most of us belongs here. We have a job. We have to work hard, follow instructions from our bosses and superiors and get paid. We don’t own our time. These are people who love security or tenure. They will work hard to climb up the corporate ladder. The higher they climbed the ladder, the higher they pay is. Sad to say, the higher their pay is, the higher also their taxes. And it’s not them getting rich, it’s their bosses, it’s their company. Time will come, they will get tired. Their body will collapse because of age. And when they stopped working, they will also stop receiving income.
Quadrant 2 – SELF EMPLOYED – They work for themselves. The difference with the employees is that self-employed own their time since they don’t have superiors. They can decide for themselves. These are people who loves to be independent. They don’t want to work for others, instead they want to work for themselves. These are doctors, lawyers, and small business owners. But still, they are an employee of themselves. And if they stopped working, they will also stop receiving income.
Quadrant 3 – BIG BUSINESS OWNERS – They love delegating tasks. They concentrate their efforts more on activities which produces most profits. They hire people who are more intelligent than them to do the work for them. They have built a solid system and they own it. They have built their resources to make this possible. And so they can leave for vacation and can leave work for some time but still earns money because there were people working for them. Examples of this are the taipans and tycoons and some franchisers who have built a solid business.
Quadrant 4 – INVESTORS – These are people who have built their assets and are not working for money anymore. Instead, the assets they have accumulated works for them providing them constant income even if they don’t work. These are people who are called “living on interests”. They are living thru the interests of their assets and investments. Money works for them. They have invested their money to have more money. They can differentiate which one is an asset and which one is a liability. Examples of these are investors in the stock market, real estate, etc.
Did you see the difference? The only way to escape from the rat race is by travelling from active income to passive income, from employee or self-employed to becoming a big business owner or investor. And this is the challenge that Robert Kiyosaki left to us readers.
As a final note, I’m leaving this quote from Mr. Kiyosaki.
“The rich buy assets. The poor only have expenses. The middle class buys liabilities they think are assets. The poor and the middle class work for money. The rich have money work for them.”
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Wish me luck on my journey to be 'financially free'. Do you think I could achieve that?!
TEH
Tuesday, June 26, 2012
Monday, June 18, 2012
Wednesday, June 13, 2012
I'm in love with stock investing
Yes. I'm still in love with stock trading. Deep in my heart, i'm always thinking to make some trading in KLSE but my capital stopped from doing that. I have to save my money from now on , so i can do trading again in KLSE. I have to learn not to trade if i don't have money and no more play contra. So short term trading is a big No for me maybe one a while can do if the trade can really give big money for me...The best is medium and long term. Human nature for everybody to make money as fast as possible but must remember the faster you making money, the faster you will be losing money. Why?? Greedy!!
3 Ways to Reduce Your Exposure to Inflation
3 Ways to Reduce Your Exposure to Inflation
1. The Right Investments
Some investments can help you beat inflation. If inflation runs at an annual 3%, and your annualized return is 6%, then you come out ahead. Your money is growing at a faster rate than inflation. Many people like dividend stocks, since the value of the stock itself have the potential to grow, while providing you with an income. Certain dividend stocks can be very helpful when it comes to beating inflation. Commodities can provide an even better hedge against inflation, but the volatility of some of these investments will test your risk tolerance and knowledge to stay the course.If you are concerned about stocks, and too jittery about commodities, you can opt for something considered less risky. TIPS are Treasury securities indexed to inflation. So, your capital can be protected, and you get a little extra, without a great deal of risk. Of course, the lower your risk, the more your potential gains are limited.
2. Be Smart About Debt
Some will say that you should borrow as much as you can if there is runaway inflation because your debt won’t be nearly as costly in real terms if the price of everything goes up. Yet, with rates are relatively low right now, paying down debt as fast as you can will help you deal with inflation much more easily since you will have more cash flow to deal with rising prices as your money isn’t being sucked into debt payments and interests. So pay off credit cards while interest is a little lower, and more of your payment goes to principal. If you wait longer to pay off your debt, you might find that you might have to choose between paying your debt or buying groceries!While we are on this topic, now is also a good time to refinance, locking in lower rates. You can refinance your home to a lower rate, saving money each month so you have more to invest. If you have a variable rate, locking in can help you avoid interest rate inflation in the coming years. You can also find good deals on refinancing your car loan, as well as low debt consolidation rates to help you avoid higher rates later.
3. Lifestyle Choices
The way you live your life can also reduce your exposure to inflation. A healthy lifestyle will save you money money now, and will also result in slow increases to your health insurance premiums. While you can’t avoid insurance rate rises altogether, you can prevent huge rate increases every year with better health habits.You can also reduce your exposure to gas prices inflation by driving less. As you probably know, one of the biggest drivers of inflation recently has been gas prices. Walk more, or ride your bike, and consolidate trips to help you reduce your exposure to inflation. You can also talk to your boss about telecommuting two or three times a week. If you can avoid the commute, you can also avoid some of the gas price hikes.
What other ways can you reduce your exposure to inflation?
Friday, May 25, 2012
Routine daily life..Change??
Almost people doing the same thing everyday but depending on your working hours. For normal working hours people, the routine is like this. Wake up 6 am, after that prepare to work. For the lady with the children, need to pepare the chldren to school. Then at 7 am, drive to work either by car or just riding the motorbike. Working finishes at 5 pm and then drive back to home.
For those who like jogging, they are going for jogging. For lady, she will prepare for dinner. For the lazy one, she just buy from the shop. 8pm dinner and the watching tv or doing some house work. 11 pm sleeping. Then the routine cycled again the next day till friday or saturday. Sunday, either just rest at home or going for shLopping. That all. So boring if our life like that. I think we should change our routine to make our life happier and full of meaning.
The changes should be done are .... Still thinking..not easy for employed people.
Knowledge is Power
Knowledge is power. Without knowledge we don't know what we're doing. No goals. No aim. No purpose. In investing, knowledge about market condition, the factors that affecting the market environment will cause the change in market direction. Knowledge about the signals in charts also important either to buy or sell. So, knowledge is everything.
Tuesday, May 22, 2012
Motivation
"The most successful people in life are the ones who ask questions. They're
always learning. They're always growing. They're always pushing." Over the
years, there are 5 questions in particular that the most successful people ask
themselves...
Tuesday, May 8, 2012
How to trade like hedge fund
articles from
Hedge funds are often thought of as murky pools of capital, accessible only to the super wealthy. The only times the public hears anything about hedge funds are when they do something illegal or outrageously profitable. Generally speaking, these partnerships are much less secretive than you may think.
To demystify hedge funds and explore ways that an everyday investor can benefit from their strategies, Breakout welcomed Maz Jadallah, founder of AlphaClone.
What is a hedge fund?
Jadallah says hedge funds are "an investment fund that has a much wider range of investment activities than a mutual fund." Broadly speaking, hedge funds have a mandate of making money, no matter what the market is doing.
For instance, if the stock market is down big, such as it was in 2008, your vanilla mutual fund would be expected to fall with it. A hedge fund manager has no such excuse. Hedge funds typically get a management fee of around 2% per year and take a cut of the profits up to 20%. Whether or not these steep fees are worth it depends on the fund.
Among the strategies you're not going to see at your basic mutual fund are a dedication to the use of leverage, meaning the fund will borrow against their portfolios to increase the size of their bets. Using $300 to buy one $600 share of Apple (AAPL), for instance.
As Jadallah says, that kind of leverage can "accentuate gains but also accentuate losses."
Who can invest in a hedge fund?
"The SEC has restricted who can invest in hedge funds because of the 'sophisticated nature' of hedge funds," says Jadallah. In theory, these accredited investors will be able to understand the hedge fund. In reality it comes down to money.
To be a hedge fund investor, individuals need to qualify in one of the following ways:
- Be an individual who has made over $200,000 per year for two years.
- Be a married couple with over $300,00 a year in joint income.
- Have a net worth in excess of $1,000,000, not including their home.
What can individuals do to imitate the strategies of successful hedge funds?
Jadallah says investors who are looking to invest like a fund can do three things.
First, they need a time horizon of three years or more. Jumping from hedge fund to fund doesn't work for mutual funds, hedge funds, or stocks.
Second, individuals usually fail to protect their downside the way a hedge fund would. Automatic sell rules will keep you from riding losing positions down to zero. Jadallah uses a monthly close below a stock's 200-day moving average as a trigger to sell. Other techniques include a drop of 20% or sharp one-day moves.
Finally, folks at home can follow the managers themselves and study what they do. Any fund with more than $100 million of clinet money much file its positions with the SEC within 45 days of the end of a quarter. This includes equities, preferred equities, puts and calls. These filings give the regular public a glimpse into the what these high paid Wall St kings are doing from quarter to quarter.
These filings enable folks at home to see what good managers are doing.
Though individuals should pick funds that best match their own technique, Jadallah cites Seth Klarman, David Tepper, and Janna Partners as particularly talented managers.
Friday, May 4, 2012
Happiness
What is happiness?? For me is free from any problems. Is that correct? Depend on your personality.
Everybody has their own definition. So, if you think that you're with your current situation, the that is call happiness for you.
People said that money can't buy happiness. Really? How you feel if you don't have money to buy thing? Happy or tension. If tension, then you're not happy.....
Money = Happy? Yes for me.
Everybody has their own definition. So, if you think that you're with your current situation, the that is call happiness for you.
People said that money can't buy happiness. Really? How you feel if you don't have money to buy thing? Happy or tension. If tension, then you're not happy.....
Money = Happy? Yes for me.
Tuesday, May 1, 2012
Leverage
One of the recognized forms of leverage is the leverage of borrowing money.
Millions of people struggle financially because the power of debt leverage is used
against them. Good debt makes you rich and bad debt makes you poor. I retired
young and rich because we were deeply in debt, deeply in debt with good debt, debt
that made us rich and financially free. We used the power of leverage, we did not
abuse the power, nor do we live in fear of its power. Instead we respect the power of
leverage and use it wisely and cautiously.
Sunday, April 22, 2012
I'm drowning
Yeah..I'm drowning in mountain of bad debts..How to clear it or how to settle it?? Working from 9 to 5 is not enough to cover all the debts. Most the salary money is enough to pay 2 car loans (Total RM 2500) , house loan (RM 1200) and all the bills (RM 500). So all the credit cards bill must come from the extra money. Where u can get the extra money??? Doing overtime .. But my age already catching up so i need more rest to let my body relax and let my mind not to stress.
That why very important to save from the young. Save first and enjoy later. For me, enjoy first and save later... Hahha too bad. I must teach my children to save first, enjoy later in their mind. The other problem if you're married is to control the wife spending.. so difficult if your wife is shopaholic. How to control it?? Unless she spend from her own budget and money.
There are few thing must be done:
1. Protection - insurance
2. Habit - Saving
3. Living - frugal
4. Spending - buy necessary thing
5. Helping - contribute to unlucky one
That why very important to save from the young. Save first and enjoy later. For me, enjoy first and save later... Hahha too bad. I must teach my children to save first, enjoy later in their mind. The other problem if you're married is to control the wife spending.. so difficult if your wife is shopaholic. How to control it?? Unless she spend from her own budget and money.
There are few thing must be done:
1. Protection - insurance
2. Habit - Saving
3. Living - frugal
4. Spending - buy necessary thing
5. Helping - contribute to unlucky one
Saturday, April 14, 2012
Handling Credit Card -- from The Star
OWNING a credit card for the first time is, in a way, a big personal achievement. It means you've taken a big step in managing your personal finances.
The appeal of owning a credit card is understandable it can be both a convenient and efficient add-on when it comes to dealing with your finances. However, with so many cards available in the market today, where do you start? Or do you start at all?
There is some work to do before filling your wallet with “plactic money.”
Know yourself
Prior to applying for a credit card, it's important to know the type of spender that you are. P.S. Tan, 33, a self-confessed shopoholic, says that the main reason she got a card was to be able to indulge in what she loves doing best shop!
“With a credit card, I can shop as much as I can so long as I don't exceed my credit limit,” she enthuses, adding that she used to feel “deprived” before she owned a credit card.
“I used to get depressed because I couldn't afford the latest women's clothing and accessories. But with a credit card, I don't feel so limited,” says Tan.
Meanwhile, frugal P. Jeya, 44, says she applied for a credit card so as to be able to pay for big ticket items.
“These include, household stuff or my children's college fees, which had to be paid in a lump sum,” she says.
However, owning a credit card can sway a person's spending habit.
“After getting a credit card, I became a bit more of a spend-thrift,” says Razlan Hashim, 38, a bank officer.
“It's psychological. When you're not physically handling money or seeing it coming out of your wallet, spending tends to be a little bit more care-free,” he adds.
Razlan believes that people who had the tendency to overspend should not own credit cards.
“A credit card is useful if you can't use cash to pay for something or don't have the immediate cash to do so. But you should always ask yourself is it something that you want or is it something that you really need?
“Most of the time, you'll use your credit card on something that you don't necessarily need. It is better to save up the cash for something you want, than own a credit card and have a mounting bill and interest looming over your head.”
Be responsible
Owning a credit card also comes with added responsibilities, namely the need to better manage your finances and pay your bill on time.
Says Tan: “You can be a big spender or a small one. But what's important is how quickly or consistently you're going to repay your credit card debt.”
Razlan concurs: “Before you apply for a credit card, you need to ask yourself if you can shoulder the responsibility of settling your debts consistently and in a timely manner. Late payments or not paying off your credit in full means added interests incurred or even penalties.”
Individuals who have reached their credit limit but still want to continue spending end up applying for a second (or even a third!) credit card, which, if not properly managed, can create huge debt problems.
“We've all heard the horror stories of people with debt problems resorting to money-lenders,” says Razlan.
Of course, having a second credit card also means added annual service charges. However, Jeya notes that one can always waive the annual charges.
“I have two credit cards and have the annual charges for one of them waived. “I tend to use one card more often than the other and it came to a point when I wanted to terminate the one I seldom used.
“But since I was a long-time customer with the bank (of the credit card I wanted to discontinue), the bank was willing to waive the annual service charges.”
Alternatively, a bank is also willing to waive your annual service charges if the card is used regularly.
Choose well
With so many products being offered by multiple institutions, it's always best to determine which bank offers incentives that best suit your needs and convenience.
“Certain banks offer credit cards with rebates or interest points for a type of leisure activity that you tend to indulge in quite often. Perhaps you can get good discounts at a shop or restaurant you frequently visit.
“Or if you're a frequent traveller, then maybe a particular bank offers points whenever you travel overseas,” says Razlan.
Jeya, who has been a credit card holder for over 15 years, says she chose a bank that had a nearby branch to ease settling her bill.
“Of course, today you can pay you credit card bills online. But back then, it was more common to go directly to a bank to settle your debts. Some banks had so few branches that it was so inconvenient.
“Before applying for a card, it's best to ask the people or speak to a professional to see what kind of incentives come with the credit card you intend to apply for,” says Jey
7 Habits of Highly Frugal People
7 Habits of Highly Frugal People
The book 7 Habits of Highly Effective People has sold over 15 million copies since it was first published in 1989, teaching people all over the world how to live a happier, more successful and more satisfying life. One of the prevailing themes of the book is the fact that to change your life you need to change your attitude because no one else is responsible for what happens to you but you, so you can either complain about the things you don’t like in your life or you can set about changing them. Not surprisingly, this directly relates to the state of your finances. This post is a parody to the concepts presented in the book.
If you are tired of living paycheck to paycheck, of having your phone regularly cut off or having to make excuses to skip dinners with your friends if the money has run out before the end of the month then you can use the seven habits of highly effective people to take control of your money situation and live a more frugal lifestyle, and a happier one.
Habit One: Be Proactive
The first habit of highly effective people is to take responsibility for their own lives; if they fail, they have no one to blame but themselves. Regardless of how you were raised or how you were treated at school you are able to choose your behavior now. Being proactive means understanding that you are in control of the direction your life takes and in control of your day to day interactions. Whereas a reactive person is often affected by their environment and will find external sources to blame for their behavior, for example if the weather is good they are in a good mood but if the weather is bad it affects their attitude and so the weather is to blame for their bad mood.
However what most people forget is that between the stimulus and your response is your freedom to choose your response, and one of the most important things you choose are your words. The language you use is an effective indication of how you see yourself and if you use proactive language such as ‘I can’ or ‘I will’ you are starting with a more positive attitude than a reactive person who uses language like ‘I can’t’ or ‘I have to’ or ‘if only…’
How to be proactive for effective frugality:
- Take the first step. You cannot take control of your finances until you make the commitment to do so because the more you ignore the situation the worse it will get. Instead take a long hard look at your finances and your budget, your debts, income and expenses and understand where your money is going and where you can budget better. (To help you out, here are 25 ways to pay off your debt more easily.)
- Tell people. Using proactive language to vocalize your goal of being more frugal and more financially responsible not only helps you crystallize your goal but can also help you avoid the peer pressure which can make budgeting and frugality hard. If you explain to your friends and family how you are trying to live a more frugal lifestyle then they are less likely to pressure you into one more round of drinks at the pub or dinner out, again.
- Listen. Listen to yourself and listen to the reasons you give each time you make a purchase outside of your budget or decide not to put those spare funds into your savings account. Taking the time to stop and listen to the reasons you give yourself for spending more than you earn will give you the opportunity to hear just how shallow many of those reasons are, and can stop you from making purchases which can impede your goal of effective frugality.
Habit Two: Begin with the End in Mind
Those who are effective in achieving their goals are able to envisage their end result despite the obstacles. Highly effective people adhere to this habit based on the principle that all things are created twice, there is the first mental creation and then the second physical creation, and the physical creation follows the mental creation in the same way as the building follows its blueprints.
If you don’t visualize what you want out of life then you are at risk of other people and external circumstances influencing your life because you are not influencing it yourself. Instead begin every day and every task with a clear vision of where you want to go and how you’re going to get there and make that vision a reality with your proactive skills from habit one.
How to visualize effective frugality:
- Define your goal. There are many ways to live a frugal lifestyle and you need to decide on how frugal you want to be. Do you want to be debt free, do you want to build a savings account balance of a certain value or do you want to be able to live on one income in a two income household?
- Decide how you’re going to get there. This will again draw on your budget, but you also need to be aware of the obstacles which are standing in your way. These may be literal obstacles such as credit card debts, or they may be obstacles you have identified in your behavior; for example are you spending $10 every day on junk food on your way home from work because you’re starving when you could be packing a two dollar muesli bar or a low GI lunch to keep you going until dinner. Or do you find that when you go shopping with your sister she always helps you justify a frivolous purchase when you could leave your credit card at home?
Make sure your goals are SMART! Here’s what I mean by that.
Habit Three: Put First Things First
Knowing why you are doing something is an effective motivator in helping you take the mental creation and transform that into an actual physical creation of your goal. Therefore ask yourself which are the things you find most valuable and worthy to you. When you put these things first you will be organizing and managing your time aroundyour personal priorities to make them a reality.
However for many people it is hard to say no but this is exactly the skill you have to learn to be able to keep your goals as your first priority. While we have all of these time-saving devices and we are told we can have it all if we just achieve that elusive work-life balance, in reality having it all is really about prioritizing which it is most important to you to have, and then doing that properly.
How to put effective frugality first:
- Recognize the effects of your finances. You may not dedicate as much time as you should to managing your finances and practicing frugal principles because you feel there is always something more important to be doing, whether it is work, taking the kids to soccer practice or getting ready for dinner with the girls. However, if your finances are not under control and you are regularly spending more than you earn, then this is having a negative impact on every other aspect of your life from your work to your family to your friends. Therefore you need to recognize that being frugal is your first priority.
- Just say no. It is easy to spend more than your budgeted amount each month when you are worried about missing out on a dinner with friends, feel as though you have to cater a birthday party for your son and 50 of his closest friends or you can’t possibly wear the same suit you wore last year to a work conference. However if you recognize that you don’t have to take on everything and that it is all right to say no then you will find you are more in control of your spending and your budget.
Habit Four: Think Win-Win
Most of us are taught to base our self-worth on comparisons to others and competition against our peers. We think we can only succeed if someone else has failed and if you win, then that must mean I lost. We are also taught that there is only so much pie to go around and if you get a big piece then I’m going to be missing out. When you think like this you are always going to feel like you’re missing out on something and nothing is ever fair. As a result many of us retaliate and take the pie before someone else can take it from us.
Thinking in a win-win mindset allows you to see mutual benefits from all of your interactions and as a result, you will see that when you share the pie it tastes even better. If you are able to approach conflicts and problems with a win-win attitude by showing integrity and standing up for your true feelings and values, it allows you to express your ideas and feelings with courage while having consideration for the feelings and ideas of others. When you focus on an abundance mentality, you are able to see that there is enough for everyone and you can see that balancing your confidence with empathy can help you achieve your goals while helping others achieve theirs.
How to create frugal win-win situations:
- Recognize that you don’t always know the full story. As you aim to implement frugal principles and stick to a budget, you may often find yourself thinking ‘it’s not fair’. It’s not fair that they get to go out to dinner. It’s not fair that they get a new car, and it’s not fair that they get to go on holiday and I don’t. However, take the time to realize that you are only seeing a small part of the finances of your friends and family who seem to ‘have it all’. And even though your best friend is taking that dream European holiday of yours or your brother is buying a sports car before you are, you will get there too if you manage your finances frugally and there will still be plenty of holiday destinations and plenty of fast cars when you can afford the expense.
- Understand the difference between possessions and net worth. While your friends and family may seem to have a fuller lifestyle because their house is bigger or their car is newer, you need to consider that it could just be a facade to cover their mountains of debt. True wealth is not measured in possessions but in assetsand when the value of your assets is greater than the amount you owe in mortgages, car loans and credit card debts, then you have a strong net worth and are truly wealthy. And in aiming to live a more effectively frugal lifestyle you will be able to achieve true wealth rather than just a life full of stuff.
Habit Five: Communication
Communication is often the desire to be heard and understood and most people will listen with the intention to reply to what you’re saying rather than to understand what you have said. However, to effectively communicate you need to first understand and then be understood because if you communicate with the sole intention of being understood you can find that you ignore what others are saying and miss their meaning entirely.
How listening can help you be effectively frugal:
- You are not the only person in your life. Chances are you are married, in a relationship, have children or all of the above. As a result, you are not the only person being affected by your decision to live a more frugal lifestyle. To be effective in your goal of frugality, you need to be able to listen to and understand the goals and behaviors of the other people in your life too. Consider how effective your frugality would be if you were taking packed lunches to work and avoiding the afternoon coffee run with your partner going on shopping sprees during their lunch break. Instead of living a more frugal lifestyle, you are really saving on one end and spending it on the other.
- Understand the goals and needs of others. While it is important to explain your desire to live more frugal lifestyle, it is also important that you understand the goals and needs of your family so that you can find a way to be more frugal without them having to give up all of the things which are most important to them. You can’t know what those things are unless you listen.
Habit Six: Synergize
Interactions and teamwork are some of the most important ways you can learn new skills and more effective behaviors. To synergize is the habit of creative cooperation where you work as a team to find new solutions to existing problems. Synergy is not something which just happens but is a process where you need to bring all of your personal experiences and expertise to the table to enable more effective results than you would have been able to achieve individually – the whole is greater than the sum of its parts.
When you have genuine interactions with people you are able to gain new insights and see new approaches to your problems which you would not have otherwise thought of.
How to synergize for effective frugality:
- Look for new ways. In a society which has become so good at consumerism you have probably already realized that you need to find new ways of doing just about everything to be frugal. It is easy to buy your lunch every day but it is more frugal to take a packed lunch. It is easy to drive to work but it is more frugal to catch the train. It is easy to buy a new cocktail dress but it is more frugal to make one.
- Surround yourself with other frugal people. To be successful surround yourself with people who are where you want to be and whether you join online forums onfrugal living websites or strike up a friendship with the woman who runs the local shop you will be able to share ideas and learn from others to be successful.
Habit Seven: Sharpen the Saw
You are the greatest asset you have on your journey to achieving the lifestyle you want and so you need to look after yourself physically, emotionally, mentally and spiritually. When you take time to renew yourself in all four areas of your life you are creating growth and change which allow you to continue with the previous six habits you have mastered, which still need to be maintained to achieve success.
How to frugally renew yourself:
- Physically. By eating better you will feel better and if you start your own vegetable patch for example you will be able to save at the supermarket and will be eating better at the same time. Exercising keeps you fit and healthy and it doesn’t cost you anything to go for a walk or bike ride or even skip rope in the backyard. To rest your body you don’t need to go to a day spa you can simply slide into the tub at home and relax.
- Emotionally. Interacting socially with others allows you to make meaningful connections and this can come back to a conversation with the woman at the op shop or even scheduling in coffee and a chat with your mum once a week.
- Mentally. Exercising and expanding your mind through learning, reading, writing and teaching can be done frugally at your local library or even by volunteering at a school or retirement home to teach others a skill you may be taking for granted.
- Spiritually. Spending time close to nature to expand your spiritual self through meditation, music, art or prayer can be done frugally by taking a quiet moment to center yourself and empty your mind before you go to bed or going for a bush walk and being grateful for the beauty of nature surrounding you.
Frugality does not mean having to give up all the luxuries and things which make you happy because if you go through developing habits 1 to 6 without spending the time to renew yourself this is how you burn out, and frugality is something you want to develop and maintain for the long-term and with these seven habits you can be a highly frugal person.
This post is originally written by Alban, a personal finance writer. He offer money savings tips and helps people to compare home loans online.
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