Hi TS,

I came across your post and i found this very interesting. Cant stop myself to comment my view (but it is just my personal view that may or may not be useful for you to ponder).

To begin with, I considered myself a thrifty guy (live down to earth) but i have to admit that you are at another level of thriftiness. Got to give you a thumb up as not many people can live a life like what you had mentioned previously. You see, i used to think that I would rather invest my RM1 rather than spend it on something unnecessary.

An investment allows me to recoup my capital (RM1) and at the same time make some gains, if i take my chance. E.g. if take the RM1 to gamble, i have a 50% chance of winning RM2. Of course, this is just an example and gambling is never an investment act. We have to take calculated risks when comes to investment. On contrary, if i spend the RM1 on unnecessary stuff (e.g. entertainment, good food, travelling, etc.), you will never recoup your capital of RM1, let not mention about making some gains out from this.

But now, i tend to tweak my mindset a little. Some of the things which I thought were not necessary in the past (because they would lead me to spend rather than invest) might in fact the best investments that you wished you didnt miss out. That is why people spent much on travelling, spent heavily in personal grooming, etc. These bring intrinsic values to your mind and body. You r body is rejuvenated, your mind is refreshed, you are now positive and filled with high self-confidence, and other good vibes may come to you. All these good feelings are critical to excel in your careers or business (that allows you to earn more). Therefore, to a certain extent, spending on yourself is as good as investing in yourself. Treat yourself better and in a way, that may be the best investment you have, isnt it?

So much of sharing my point of view, i admire your self-discipline in taking control of every single detail of your spending. However, do note that there is a saying "penny wise, pound foolish" and it is important not to fall into that situation. I am also trying hard to understand this theory and attempt not to fall into this situation.

Separately, I understand that your current employer will only promote staff based on seniority (instead of performances and quality). That is why you feel that "income" is something that you cant control, which led you to exert strong control over your spending. I dont understand about your work nature and hence, wouldnt be able to comment much. But as some of the forumers had pointed out, perhaps it is time for you to look for other places - places where you can illustrate your qualities, competencies, knowledge, experiences, etc. This in turn, will provide you the leverage to demand higher salary.

In the nutshell, treat yourself better and spend within your means. You may see some of the spending are not necessary for now but they are important in boosting your self-confidence, personal grooming, personal well-being, etc. You need to have the "good-feel" factors about yourself to demonstrate the good qualities of yours to the world.

Hope this bring different perspectives. Thank you!

Hi Bro, beg to differ the statement "proud to be poor".

Let's be honest to oneself. If one is poor now but he works hard to earn money legally and becomes rich one day. That has to be "proud to be rich" because he does what it takes to be rich legally. I supposed the only odd possibility that one claims he is "proud to be poor" is when he is asked to do something illegal/ bad that are against one's conscience. So bro, we might not be in a desired financial situation right now, but never be "proud to be poor". Have an open mind to find ways/ work hard to be rich (according to your own definition) to have a better living. All the best!

Separately, i am recently reading a book that talks about finances, which i find it makes sense. The book says that there are 3 choices in life for us:-

1) To be secure
2) To be comfortable
3) To be rich

Most of us put security as our priority, followed by comfort and lastly to be rich. I looked around and reflected my own experiences, that statement is indeed factually correct. Most parents encourage their children to study hard, get good grade in school so that they can land a good job in the future. Good job provides security. I am one of the many that placed security as my top priority too.

The author further explains that the difference between a rich and a poor is that the rich people place "to be rich" as their top priority (instead of security). However, it comes with a caveat that notwithstanding "to be rich" is their priority, they are first required to develop their own financial plans to be secure and comfort. Only when you are financially secured and comfortable, then you can start to do things like the rich people (invest or spend like the rich). This caveat makes total sense to me.

My learning point is - let's assume everyone aims to be rich. But there are different stages that we have to go through before reach our final aim (which is becoming rich). We need to develop our financial plans accordingly. Some of us may now in the first stage, working hard to achieve financial security. The others may be already in the end of second stage, having the financial comfort and venturing into the activities of the rich society. Having said, let's not assume that everyone can become rich by just following the aforesaid step plans. I strongly believe that there are thousands and millions of factors that will play a part in determining whether we can reach the final aim.

I believe each reader here has his own position/ status in the financial world. Hence, it is not compatible if one in Stage 1: Security is having a financial debate with someone in Stage 3: Rich. It will be really helpful if those that are already in Stage 2 or Stage can share more useful tips to people in Stage 1, so that we can learn and take you as a role model. Thank you!