Posted by calvintaneng > 2018-08-18 11:41 | Report Abuse

THIS ARTICLE MUST BE READ BY ALL

(((would go as far to say "If 40 million people do a foolish thing, it does not become a wise one." Make sense? Why would a person with RM 3,000 monthly pay want to buy a RM1,699 Dyson hair dryer just to be... cool? Why would a person with RM 4,500 monthly pay get a RM 15 Starbucks daily (which amounts to RM 450 a month or 10% spent on drinks alone)? I guess maybe they like the atmosphere, status, air conditioner provided by Starbucks, and they are disgusted by the RM 2 drinks from kopitiam?



I've heard many excuses for unnecessary expenses, someday I would hear "This is once-in-a-lifetime concert, I have to buy the ticket even if it costs me RM688", another day I would hear "This is limited offer which is gonna end on tomorrow, I have to buy it now no matter what", etc etc. People have given all sorts of funny excuses to justify their expenses, but I would like you to think for a second: Have they ever given themselves a chance to save once? Just once.)))

To be successful one must Earn more and spend less.

With the savings he should invest early in good Appreciating Assets like Real Estate or Shares of Good Companies.

So in order to save we must curb desires and gratifications or postpone them.

Highly successful people like Warren Buffet, Walter Schloss & Igvar Kamprad (Ikea founder) lived on very little. Save much & invest a lot

That is the reason why they are so successful.

Posted by makemoney1 > 2018-08-18 12:48 | Report Abuse

Great article. This probably the real reason why people do not save and invest. People always complaining high cost of living, cant buy property and invest which I think is not true. Most likely is they over consume.

Posted by stockraider > 2018-08-18 15:17 | Report Abuse

Thats why raider always emphasis positive force savings beside just ordinary savings loh....!!

What are the positive force savings ??

1. Buying a house using bank loan.
2. Buying life insurance using cash instalment
3. Buying share using cash & margin

If u do that above, u r forcing yourself to force lowering your expenditure by increasing your force savings loh...!!

But never never increase your expenditure thru negative fixed cost spending, when u cannot really afford it loh:

1. Buying a new car
2. Using credit card to finance ur oversea holidays by instalment.
3. Buying expensive luxury designer goods like LV, Hermes, Prada etc.
4. Buying into expensive club membership thru instalment
5. Financing your children to expensive international schools that u can ill afford loh....!!
6. Taking up expensive Personal loan or deferred payment.

The above will worsen your financial health, and run u thru debts loh..!!
Once u realize u run into debt problem, start restructuring your finance loh.....!!

Only thru excess savings & investment...can make u rich loh....!!

Posted by stockraider > 2018-08-18 15:28 | Report Abuse

Also remember when u run into sustainable negative savings monthly, the solution for u beside to cut cost is to increase your income loh..!!

Solution on your income side
1. Get higher paying job.
2. Get 2nd income like multi level mkt, grab driver, give tuition, sell part time burger, do part time booking, be a property broker, insurance agent etc loh...!!
3. Get a part time job loh...!!

If u have 2 to 4 type of other source of income, it will help u to build up your finance & paydown your debts loh...!!

Do not stop the momentum of savings accumulation once u had paydown ur debt loh....!!

Posted by Alex™ > 2018-08-18 17:10 | Report Abuse

why alex can't save money?
because i3 con my money~

haha

Posted by Alex™ > 2018-08-18 17:10 | Report Abuse

@calvin
With the savings he should invest early in good Appreciating Assets like Real Estate or Shares of Good Companies.

calvin bro, next week here got auction double storey house RM90k only. want on?

Posted by Alex™ > 2018-08-18 17:12 | Report Abuse

aiya, nowadays...the standard for fresh graduate is double storey house + vios…. how can save?

ok la, downgrade a bit, condo + myvi…. fuiyo...no gst/sst, must cepat beli~

Posted by Alex™ > 2018-08-18 17:13 | Report Abuse

stockraider sifu ah, I scare leh, I dun dare take loan.

maybe im 100% chinaman hehe. keep save save save~ no loan

car is cash money~

Posted by stockraider > 2018-08-18 17:51 | Report Abuse

It is ok....if u don take loan loh....!!
Just keep up with the traditional savings, where your income is more than expenses loh....!!
The productive loan like house and shares are just force savings for those who do not know how to save & thus solution is use force savings mah.....!!

Posted by Alex™ > Aug 18, 2018 05:13 PM | Report Abuse

stockraider sifu ah, I scare leh, I dun dare take loan.

maybe im 100% chinaman hehe. keep save save save~ no loan

car is cash money~

Posted by Jon Choivo > 2018-08-19 05:05 | Report Abuse

Being a very strong saver, i would rather other people spend.

Someone needs to support the economy. If everyone was like me, will turn into Japan and stagflation forever.

They support the economy and enjoy life more, while i get to buy more stocks that appreciate in value due to their support of the economy.



“The less you eat, drink, buy books, go to the theatre or to balls, or to the pub, and the less you think, love, theorize, sing, paint, fence, etc., the more you will be able to save and the greater will become your treasure which neither moth nor rust will corrupt—your capital. The less you are, the less you express your life, the more you have, the greater is your alienated life and the greater is the saving of your alienated being.”

― Karl Marx

Posted by Ayoyo > 2018-08-19 08:41 | Report Abuse

Two stories stuck with me...

A boss who's a self made multi millionaire worked 18 hour days, never skipped a day, saved up, sacrificed his all to acquire assets... When he died, his wife married the long time driver employee and they both enjoyed the fruits of the ex husband's labour... The driver realised that instead of him working for the boss, the boss had in fact been working all his life for him (the driver) instead

You saw that BMW, your dream car, could afford it but chose to slug it out with your old jap.. The next day after your funeral, your son made a deposit for a new BMW


you only have one life and the reason you exist in this physical form is for you to experience joy espoused by your 5 senses... What does all those dollars in your assets mean when you leave this world one day?

Posted by Ayoyo > 2018-08-19 08:43 | Report Abuse

Saving, to me, is one of the most overrated financial planning advice... Don't talk about enjoying retirement when you can't even enjoy life now despite the fact that you could afford it..

You sacrificed health in order to gain wealth only to have to eventually sacrifice your wealth to regain your health

And the paradox of money is that, it seems to come to you more easily and effortlessly, if you allow it than you don't

Posted by Alex™ > 2018-08-19 09:04 | Report Abuse

Ok la... Everyone want yolo ma... Like that cash out all stock, quit job, swipe credit card, and live good life... Hehe...

If loan Installment catching up, then just swipe another loan to cover.

Posted by Alex™ > 2018-08-19 09:05 | Report Abuse

But if u save because u want to provide for your family, to eat your own bread, and to support the charitable cause, then maybe can raise the saving rating up a bit.

If not, just spend lar~? Fresh grad straight loan myvi extreme

Posted by Equityengineer > 2018-08-19 11:07 | Report Abuse

Some ppl like to buy experience , some people like to see the money that they have. Nothing wrong buying BMW and pay installment or buy 2nd hand cash.

Posted by Meowzela > 2018-08-19 11:53 | Report Abuse

Too funny guys...

Posted by stockraider > 2018-08-19 12:56 | Report Abuse

U should budget yourself the savings, that can support your lifestyle independently until u reach 100 yrs old mah....!!

It is very unfortunate...if u run out of monies when u r 63 yrs old...after u retire loh...!!

Ask yourself what u r going to do as old man suffering at a later year for the rest of your life without monies leh ??

Posted by Alex™ > 2018-08-19 13:09 | Report Abuse

Kesian... Old man old age and without money... But maybe still can live in dignity gua... Honest work honest money...

Posted by stockraider > 2018-08-19 13:14 | Report Abuse

BUT WHAT IF UR HEALTH DO NOT PERMIT U TO WORK LEH ??

Posted by Alex™ > Aug 19, 2018 01:09 PM | Report Abuse

Kesian... Old man old age and without money... But maybe still can live in dignity gua... Honest work honest money...

Posted by Alex™ > 2018-08-19 13:16 | Report Abuse

Yalo... Sadding yo... That's why charity we must do

Posted by InvertInvestment > 2018-08-19 14:51 | Report Abuse

> Ayoyo
Thanks for sharing.
All in, I believe it’s about finding the sweet point, you don’t want to live in a cage, neither do you want to max out your credit. Nobody should sacrifice his/her health excessively for wealth, if you have to do so, you have bigger problem than savings.

Posted by InvertInvestment > 2018-08-19 22:01 | Report Abuse

> Jon Choivo
I used to think a lot like you, the rest of world can consume as much as they like (as most of them only care about their shopping carts in Taobao and Amazon) while I buy all sorts of value appreciating assets.
Now I would be very happy if there’s even one person who is willing to take action after reading this article.

Posted by BLee > 2018-08-19 22:48 | Report Abuse

Thanks for a good article. If everybody got positive saving and get $ be your servant earning more $ for you, it will be no bankruptcy..financial planning is the way to go. Happy trading.

Posted by Macho008 > 2018-08-20 08:22 | Report Abuse

The reason I can't save money because I been conned into buying limit down shares. And I'll avoid buying BJFood shares cause all the Starbucks lovers will quit drinking after reading this article:)