During this festive season, many of us indulge in shopping to "spruce" up our lives. Buying the luxurious Louis Vuitton handbag, a luxurious watch or the latest gadget are some ways of how people enhance their lives. However, let's take a step back and decide if we really need those things. Is the latest watch a "want" or … Continue reading Distinguish Between a “Want” and a “Need”
Value investing is basically buying a stock for 50 cents when it is worth a dollar. This very concept is not limited to stocks only. It can be expanded to be used in everyday life as well. I recently used this concept to buy a new smartphone. I was looking to get a new smartphone … Continue reading Applying Value Investing Concepts in Everyday Life
Multiple-choice Question: Income - ____________ = _____________ (a) Savings, Expenses (b) Expenses, Savings The answer for prudent financial management is (a). However, many people follow option (b) in their daily lives as it's "easier". If one wants to take control of their financial life, one should always save part of their income first when you … Continue reading Follow this and you will have a sound financial life!
A few days ago, I went for a talk on "Path to Financial Freedom" by Dennis Ng. It was actually a free preview for his workshops but one could learn a thing or two from the preview. He has been featured in many local newspapers and TV shows and writes for MyPaper every alternate Wednesday. What … Continue reading How a salaried employee became a millionaire?
Investing should always be done with cash that we can afford to lose. We should always take care of our immediate expenses and only then should we invest with the rest. If we do so otherwise, our emotions will get in the way. When we invest with cash that we need urgently within the year, … Continue reading Only invest with surplus cash