5 Reasons why I wan to earn more and be rich.
1) I want to be out of the rat race. I dun want the kind of work tat pays u little and u have to slog
ur life for it. I want to be rich so that i have freedom to do whatever I want.
2) I find it scary that it takes a lot of money whenever
u're stepping into the next stage in
ur life. For example when wedding, it can easily wipe off the savings that u have for the past few years and start all over again. Therefore I wan to be rich so that I do not have to worry about finances when I reach that stage.
3) My parents are getting old and retiring soon. Medical costs are more expensive. I would want to try my best to give them the best medical attention when they need it. Rather it than having no money and leaving them to suffer. Hospital is not going to give u free treatment just
becoz u're poor. Money comes before everything.
4) Spend 4 yrs in the Armed Forces. Salary is good, but i spend a lot too. Never know the importance of saving. Got a car at age 23 and that's where most of the money was drained into. End of the month, the account is just as
abt the same as the start of the month. On top of that, I went to learn flying, after leaving the force, which set me back by about $12k. Therefore I have to work doubly hard, to catch up the "lost" income.
5) I wan to help more poor kids. With the that money I have now, I can only do that much. But if I'm rich I can help more people. Below is a pic that is craved into my mind. A pic of a falcon waiting for the boy to died of hunger so as to eat him. It's something that we in Singapore can never see or feel. If we say that we r very poor, I feel it's we ourselves that is the cause to our own current state. We have all the tools for us to survive. It's just a matter of whether u want to survive. How many r in debt
becoz they did not control their finances well? In Singapore, we have compulsory 10 yrs of education, which, may not make us rich, but will definitely enable us to survive. It's something that I must take my hats off our Singapore government. We r in our current state
becoz we choose to be it. Yes, if u r poor and struggling, it's
becoz u choose to be. There
internet for u to find opportunities, there's a lot of schools for u to earn some skills.
But for those kids there, do they have? They r like thrown to this Earth,
born to hunger. Many did not even have a proper meal, that we always have, in their life time. They're just born to die. Many did not even have a taste of milk as their mothers r malnutrient and her body did not produce milk, and they r left to die hours after they r born due to hunger.
We're always in our comfort zone and does not wan to step out of it. Be it for fear, or for the unknown. But just becos of that did we fail ourselves terribly. Everyone is afraid of the things outside their comfort zone. A lot of "what if" enters their mind even b4 they step out. And that's why so many people, generations after generations, r stuck in the same social status.
Most of us have heard of "who and who started a business and failed" when we tell our parents we wanted to start a business. But how abt the hawkers who can still survive after so many yrs? They're business owner themselves. It's this kind of things that we r instilled since young that we r afraid of the unknown. We tend to focus on the negative things too much in the fear that we'll fail. It's a protection mechanism in human being. Too protecting that we encapsule ourselves within our beliefs.
The industrial age, which emphasize on the importance of a stable job, ended in 1980s. But our mindset had not changed. In times of recession employees found themselves on the chopping board. Cos they're too reluctant to change, or too used to what they r used to do. And generally employees seldom save and when they're chopped, they have nothing to fall back on. The mindset of "There's always a paycheck next month" is their own grave stone.
Being too much in their comfort zone, they've lost interest in things around them. Things that cause the whole economy to crash seems like something so distant to them. But it is in fact something that will affect them drastically.
I'm not against employees, just feel that they're over exploited. Company pay them $1000 and wants them to work $2000 worth of work. Work 12 hrs a day, only enuff time for them to go home and sleep and work the next day. I believe in earning everyday, even to the very last minute. Consider a job with salary of $4000- u work 12 hrs a day, 5 days a week. One month will be 240 hrs. U're only earning $16.67 an hour.
Those who make it big either do things that not many will do, or do things that not many dare to do. There r some jobs that pay volunteers $2000 to $4000 for 2 weeks in hospital for some clinical trial and they do nothing but take medicine and draw blood- Something that many abhor or afraid of. The same as in the stock market. Many warn of the dangers of the market coz a lot of people lose money. But I should say most of these people who lose money are those who refuse to gain more knowledge abt it b4 jumping straight into it with the HOPE of winning. With the right knowledge in everything, there's no guarantee safety or success, but the reduced probability of failure. And most of the times these r the jobs that pay well, higher than those stable jobs.
How many of us really tidy up our finance, look at our debt, and try to tackle them. If we dun know how much is our debt or how much is our expenses monthly, how can we say that we want to grow our wealth?
The very first step to grow our wealth is to know our expenses and our debt. There's no point earning $3000 when u r spending $4000. Total expenses and total debt is what many of us did not really look into. U'll be surprised when u look at ur monthly expenses.
List out what r ur expenses and debt, as accurately as possible. Then sit down and think what u can do abt it. Can u cut down on some of the unnecessary expenses? For example, can u dine less in restaurant and eat more home cook food? Can u dun drive car and take public transport instead?
After cutting down on the expenses, hopefully the income is more than the expenses and debt. That is the amount u can save every month. It's idiot proof, even a P1 student knows abt it, but how many of us really do it?
After there is positive income, do we really want to park the money in the bank and to earn that little interest that is insufficient to beat inflation? Make the money grow. Invest it, or do whatever to make sure the money gets more and more.
If u can choose between waste and save, save. If u can choose between save and invest, invest.
Human Nature
Human minds are governed by 2 things- Greed or fear. When things seems rosy, greed comes in. And when some things seem to go wrong, fear steps in. Greed and fear cause the downfall of many man in history. And fear being a stronger force, caused the crash of the stock market many times in history.
Everyone hates to lose. It's instilled deeply into our mind. Regardless of qualification, race, religion, not many people like to lose. It just doesn't seem right if there's this person who likes to lose. This is very deadly when it comes to the stock market. People like to average down, thinking that the total price will be brought down if they buy more stock as it drops. But some stocks never go up again. Just look at creative or chartered semi conductors.
There are also people who believe that they have the holding power and therefore, whether the prices go up or down has no effect on them as they can hold until the prices go up. Firstly, like what I mentioned previously, some never went up. And even for those that went up, u're trading away ur time. Might as well cut loss and take the remaining money when the prices goes the other way to put it in something that can generate more money instead of this sinking ship.
Warren Buffet once said, "When people are greedy, be fearful." I find this very true, especially in this current situation. I see many people enter the play these days. Already warned those around me. When someone win, someone must lose. I can only say sorry to them.
I wrote on msn that I'm selling my car and the first thing my fren ask was "Do u have financial problem?"
Well, I dun have financial problem. Just that I find that I can save more money without a car.
The old me, without any financial sense, would of cos like a car. But now, being slightly better in money management, I find that even if I were to take cab when I go out, it'll cost less than having a car. On top of that, when u have a car, u cannot really enjoy and relax and read a book during the journey.
There r 2 kinds of people who have car:
1) Those who r damn rich
2) Those who r not rich but want to look rich
