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> Personal Financial Management, Are you always lacking $$$$?

darkknight81
post Nov 19 2009, 12:25 PM
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QUOTE(wankongyew @ Nov 19 2009, 12:39 PM)
I'm just chiming in to agree that this is bullshit. Sadly, I've heard the same "You need one million per child in Malaysia" line for myself. I for one would like to know how it got started. My guess would e investment advisers or something. The real tragedy about this is that people who believe in the line will think of themselves as being failures if they don't manage to achieve that 1 million per child target, so they do everything they can to achieve it.

They are unsatisfied with regular jobs and keep trying to look for opportunities to make fast money, borrow money to start all sorts of businesses and get ever deeper into debt. I have personally observed this in my life. They seem to believe that contenting oneself to just being an ordinary middle-class person is unacceptable. They are also the kind of people who look down on saving slowly but steadily and claim that this is the way of mediocre people. They believe that the truly talented and great can achieve fantastic wealth almost overnight and that accumulating debt while they are on the way doesn't matter because they can pay it back all at once when they strike it big.

Needless to say, I strongly disagree with all that. Most people end up living fairly average lives, but as long as they are there for their families, they can still live perfectly happy and meaningful lives. But the people who pursue wealth at any cost end up spending very little time with their family and at the end of the road, most end up being poor. The sad truth is that only a rare few can truly achieve phenomenal wealth in this way. Saving your way, not to wealth but to financial security at least, may be slow but it is certain to work.
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Yup. RM 100k should be more than enough already i would say
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pokeat
post Nov 20 2009, 11:13 PM
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Is this thread still stick to PFM, or DADS' argue ? Cos I'm now in a deep situation.
I failed to apply Work, Save and Invest formula !

BTW, why Dreamer must send kids to US Public U, why not other countries ?

This post has been edited by pokeat: Nov 20 2009, 11:17 PM
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wu ming
post Nov 21 2009, 02:06 AM
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QUOTE(pokeat @ Nov 20 2009, 11:13 PM)
Is this thread still stick to PFM, or DADS' argue ? Cos I'm now in a deep situation.
I failed to apply Work, Save and Invest formula !

BTW, why Dreamer must send kids to US Public U, why not other countries ?

Yea, enough of raising kids. Topic seems to be not relevent.

Why everybody wants to send their kids to study and live in the USA? They are so many countries in the world yet they still pick USA.

I knew someone who actually paid a sum of money just to work in a McD at USA. yawn.gif

Is the lure of US Dollars that attractive? Earn more? Get rich quicker? hmm.gif
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darkknight81
post Nov 21 2009, 10:18 AM
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QUOTE(pokeat @ Nov 21 2009, 12:13 AM)
Is this thread still stick to PFM, or DADS' argue ? Cos I'm now in a deep situation.
I failed to apply Work, Save and Invest formula !

BTW, why Dreamer must send kids to US Public U, why not other countries ?
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What so difficult about PFM?

1. Don spend your money unless it is necessary. Think twice don just follow what ppl do and buy.... Always think 10 times before you spend that money!!!
Becos after you spent you cannot get it back anymore. Same with investment.

2. Save until month end and see how much you got then decide to spend on how many % of that amount and how many % to save.

I don understand why so difficult to manage your own finance? whistling.gif

If you cun even manage your own finance what more to say manage a department or a company? Must have self dicipline mar wink.gif

Ask yourself do you need to buy a good car? What is the purpose? Doesn't its main purpose is for you to go from one place to another?

Do you need a fancy handphone? My handphone don even have camera!!! The screen is blur somemore.... But i can call ppl and thats enuff for me already....

Do you need branded clothes? I only buy clothes with more than 50% discount or even 70%

I use lux to wash my hair only i don see any necessary to use pantene shampoo.... whistling.gif



This post has been edited by darkknight81: Nov 21 2009, 10:25 AM
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dreamer101
post Nov 21 2009, 10:41 AM
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QUOTE(darkknight81 @ Nov 21 2009, 10:18 AM)
What so difficult about PFM?


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darkknight81,

A Zen story...

A student ask the master as to what is the secret of life.

The master said do the RIGHT thing and do not do the WRONG thing.

The student said everyone KNOW that.

The master said yes, everyone KNOW that but how many can DO it.

Knowledge is NEVER the problem. Doing is.

We ALL know the RIGHT path. But, how many of us can DO it??

Now, if you can UNDERSTAND why some people can DO while others CANNOT, you would have UNDERSTAND 90+% of the problem in the world.

Dreamer

This post has been edited by dreamer101: Nov 21 2009, 10:42 AM
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darkknight81
post Nov 21 2009, 10:53 AM
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QUOTE(dreamer101 @ Nov 21 2009, 11:41 AM)
darkknight81,

A Zen story...

A student ask the master as to what is the secret of life.

The master said do the RIGHT thing and do not do the WRONG thing.

The student said everyone KNOW that.

The master said yes, everyone KNOW that but how many can DO it.

Knowledge is NEVER the problem.  Doing is.

We ALL know the RIGHT path.  But, how many of us can DO it??

Now, if you can UNDERSTAND why some people can DO while others CANNOT, you would have UNDERSTAND 90+% of the problem in the world.

Dreamer
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Agree nod.gif But i don mean that you have to torture yourself...I will see how much $$ left in the month end and decide on how much i will spend on it. By this way i think you will not have much problem on everymonth spending. Credit card i use as a tool for emergency fund if really that month you have to spend a lot...But i never owe any credit card money so far always pay on time icon_rolleyes.gif

I think most ppl cannot manage their own money is that they are kiasu in the sense of they want to show to ppl that they can afford to but in actual fact is they really cannot... How pathetic.... whistling.gif

What is so difficult to tell ppl that you cannot afford? I always did that shakehead.gif Nothing to be shameful off ler maybe my skin is thicker laugh.gif



This post has been edited by darkknight81: Nov 21 2009, 10:57 AM
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dreamer101
post Nov 21 2009, 11:13 AM
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QUOTE(darkknight81 @ Nov 21 2009, 10:53 AM)
Agree  nod.gif But i don mean that you have to torture yourself...I will see how much $$ left in the month end and decide on how much i will spend on it. By this way i think you will not have much problem on everymonth spending. Credit card i use as a tool for emergency fund if really that month you have to spend a lot...But i never owe any credit card money so far always pay on time  icon_rolleyes.gif

I think most ppl cannot manage their own money is that they are kiasu in the sense of they want to show to ppl that they can afford to but in actual fact is they really cannot... How pathetic.... whistling.gif

What is so difficult to tell ppl that you cannot afford? I always did that  shakehead.gif Nothing to be shameful off ler maybe my skin is thicker  laugh.gif
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darkknight81,

<< I think most ppl cannot manage their own money is that they are kiasu in the sense of they want to show to ppl that they can afford to but in actual fact is they really cannot... How pathetic.... whistling.gif >>

That is NORMAL. Most people live by the OPINION of others. No many people can handle the PEER PRESSURE.

That is WHY

Average people are not rich. Rich people are not average.

But, what is WRONG to live a normal life anyhow?? I have NOTHING against it. People should live whatever the way that they choose. Just DO NOT WHINE.. If a person do not save at least 10% of their gross income, they live in an unsustainable life style. But, that is THEIR LIVES and THEIR CHOICE.

Dreamer
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gsdfan
post Nov 21 2009, 04:24 PM
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Dreamer101,

After going through your post it seems you have high regards on the USA.
Mind is we know why?
Currently they are having a major economical setback and don't you think it's pretty unwise to focus on them?

Thanks
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pokeat
post Nov 21 2009, 08:29 PM
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My case is I'm a kid in col and only a part timer. Barely to save up what I have earned. sad.gif

Can anyone answer my irrelevant question ? Are food firms like Nestle and Kraft under perfect competition or monopolistic ? notworthy.gif



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cheahcw2003
post Nov 21 2009, 09:41 PM
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QUOTE(gsdfan @ Nov 21 2009, 04:24 PM)
Dreamer101,
After going through your post it seems you have high regards on the USA. Mind is we know why?
Currently they are having a major economical setback and don't you think it's pretty unwise to focus on them?

Thanks
*



Someone feel that moon is always brighter at the other side of the world. Investment Guru Jim Rogers have chosen to live in Singapore and ensure that her 2 daughters to learn Mandarin Chinese. Now his 2 daughters speak very fluent Mandarin. As he feels that both English and Chinese are the most important language in the coming future.

Many Malay parents that think ahead, send their children to Chinese Primary school to learn up the additional language. For me, if i were to have children, i will not send them far away, Singapore/Taiwan or even China will be the ground of their learning. They should learn how to compete with others. These countries have better educational system compare to our country. I am a "product" of a local Uni and i dont think the system is good.
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dreamer101
post Nov 21 2009, 10:03 PM
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QUOTE(gsdfan @ Nov 21 2009, 04:24 PM)
Dreamer101,

After going through your post it seems you have high regards on the USA.
Mind is we know why?
Currently they are having a major economical setback and don't you think it's pretty unwise to focus on them?

Thanks
*



gsdfan,

At my level, I do not focus in ANY SINGLE country. I am investing in 2000 largest companies in USA and 2000 largest companies outside of USA.

QUOTE(cheahcw2003 @ Nov 21 2009, 09:41 PM)
Someone feel that moon is always brighter at the other side of the world. Investment Guru Jim Rogers have chosen to live in Singapore and ensure that her 2 daughters to learn Mandarin Chinese. Now his 2 daughters speak very fluent Mandarin. As he feels that both English and Chinese are the most important language in the coming future.

Many Malay parents that think ahead, send their children to Chinese Primary school to learn up the additional language. For me, if i were to have children, i will not send them far away, Singapore/Taiwan or even China will be the ground of their learning. They should learn how to compete with others. These countries have better educational system compare to our country. I am a "product" of a local Uni and i dont think the system is good.
*



cheahcw2003,

My children are going to SRJK© and Chinese Independent school. After that, they are going to USA for their college education. They are multilingual and multicultural.

My niece is studying International Business. She is in a special student exchange program. Her first year is in Arizona. Her second year is in Spain. Her third year is in France. She is finishing out her final year in Beijing. Now, that is REALLY a good college education. And, it is FREE. She got full scholarship on doing this.

Dreamer
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ArSe-SeNG
post Yesterday, 06:11 PM
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IMHO,

Education is not what you can learn, but what you can learn and teach others. Going EVERYWHERE to study is good for you academically I must admit, but if you do not have the personality and character to carry you around, then yeah, you'll just end up thinking that YOU who studied in the US or UK or wherever is GREATER than everyone else. And others is not comparable to you, coz you had your education in the US, while we all rot in schools in Malaysia. So yeah, while you sit there hailing the Lord of the US and overseas education system, you have just turned yourself into a stuck up ignorant selfish *female dog*.

I myself studied in the local university, never proud of the education system. But in adversity, it teaches you alot of things. It taught me that I should help to change the education system in Malaysia, rather than to sit here and complain about how bad it is and do nothing. It taught me to improve myself and equip myself with the necessary skills, knowing that I do not come from a notable university, and it taught me that in diversity, we learn to bring the best out of people.

I know many overseas graduates, some whom are very close friends and all. They might have the benefit in education, but they are not necessarily above me. If a person do not have good character to go with his qualifications, then seriously, put him anywhere and he will still be the same person no matter where.

So yes dreamer101, I admire the fact that you wanted the best education for your kids. But along the line, remember to teach them these as well.

Humility, Discipline and Integrity.

Cause without these, no good education can bring you success in the world. And I hope your children will turn out to be good people, taught by a good parent to bring change to their home nation.

-Local student graduate, and proud of it-
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freestyler_jg
post Today, 12:06 PM
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Tell me guyz, how u gona help to change the education system in Malaysia? Im interestin to know.

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