5th June 2012

started to use some apps on my phone and it gave me a revelation. i was trying to figure out how to make expense "go away" so that the final number will show a clean picture of what i have. but the options only show uncleared/cleared/reconciled/void. THEN it struck me. expense spent cant never be removed. what is spent, cannot be unspend. you just have to accept it and move on with it. even if you can sell it at a higher price and generate income, its in your income and your expense will always be there. at the same time, i was trying to find a way to make the app show me what i have spent, how much on each card, when do i have to make payment. looks like the function isnt there. the app only shows me how much was the expense and income each month. so i have to continue with the old means of writing down how much is spend using each card and post-it to my phonetop. Looks like after my debts all settled, i will have to be looking into forms of passive income. Seagull called me sometime back and ask if can put money on my side to generate income. but i didnt agree. something wasnt rite. now then i realise. when Seagull put money with me to generate income, to him its passive income. but on my end, it is active income. i have to make trips, top up stock, monitor market, forecast client needs. also, sometimes my profit comes in the form of lego bricks. i doubt Seagull will appreciate it if i pass him 10kg of bricks as profit. Looking at all my forms of income with reference to rich dad, poor dad quadrant. Self-employed: got work got money - Active Employed: can slack but still got money - Active Business: if slack = no money - Active Passive Investor: no work also got money - PAssive Self-employed: could have been insurance. but nay... Employed: Currently employed under JOS, pay-wise, not very good but then its stable and it has alot of time-gaps for me to do other stuff. Business: My toyout post box, ebay. recently added bricklink into the system. and up-graded the ebay system. so ebay will cost me some money to maintain, but i save more on time as well as having unlimited listings. previously i can only list 30 items. on the day that i made the subscription, my total listings went up to 113. the number will increase once i get my inventory straighten out as well as list out the loose pieces seperately. Investor: NONE (when i should be doing my best to put more in here) Ran into Seagull then other day and he was commenting on my post of my "bad" friend. well, let's elaborate more on that topic. the reason why i say that its "bad" of the friend to lend you money is that in that way, you develop financial dependence on him, leading you further from your own financial independance. there are step to accomplish in order to be financially-free. jumping to higher steps without managing the lower steps will not lead you higher up to financial freedom but position you for a higher, harder fall. First, get your expense sorted> get all debts cleared (for giant debts like housing and cars, put in a long term plan)> Generate more income> convert excess resources into passive income. You may argue that if you have more income, step 1 and step 2 will resolve itself. well, there is a reason why ppl who buy 4D never get rich. go figure. of course, while all these are in progress, do take note that you need a fall back of 3-6 months of your monthly EXPENSES. dont bother to only calculate your BASIC expenses. you wont hold back one. Seagull asked if my "bad" friend wants anything back in return. well, the debt has grown to a very large amount, so we worked out something, every month that i'm not able to pay the instalments, i will have to give him a minifig. well, cost-wise its cheaper than paying bank. but relationship wise, makes me feel like a slave. maybe the friendship itself began as a form of financial partnership, so there isnt really much to complain about. when you own ppl money and when they ask for favours, it becomes hard to turn them down; so basically, i'm a hunting hound also. though there are different aspects to it, the minifigures i was asked to hunt for can be sold for higher amount of money. so should i help them hunt or ?

2012 summary so far

On 4th May 2012, i started my ebay store with ebay.com.sg After years of collect gachapons and later on moving on to lego, i have amassed a large number of toys. whether its for profit or damage from getting the pieces i want, i have been trying to sell them off for some time. My box in PS have a high profit margin but sales is slow. My blogshop isnt working very well, with organizing of the stock being messy. Trying to set up a webpage again, but somehow its not turning up in searches. in the end, i decide to keep doing the webpage as an interest as its taking me time to get used to setting up webpage via google. So finally decided to set up a ebay store also. a basic store will cost me ard $5 a month. being in ebay.com.sg will wavier all listing fees. now all i have to do is to get organized and list all my gachapons extras. A few month back, i started listing my lego parts in bricklink for sale. i cant say that there is profit, but it does reduce my number of bricks (in lego, there are never spare parts, there are only parts that you havent got the chance to use yet. >p) Work - hmmm... a slight increment in pay this year. with less than 1 month's bonus. at a point of time, was wondering to upgrade and move on, but being in this position allows me alot of free time to do my own stuff. so for the time being, i need to focus on selling my stuff first. Plans - Plan to learn to write smart phone apps, not so much for making money, but as an interest, well, if it does generates income, i wont mind. >p ppl must always be learning and doing new stuff. Mindset - Recently i listened to this audio tape, Mind Over Money. and realise that i have certain money order deficiencies. I'm a hoarder, i keeps things to make myself feel better. I have "bad" friends who lends me money to buy. I will change, i will become debt free.

15th Mar 2010

First day of work on my new job.

not that i'm giving up on my ambition to become rich, but i need to at least put some money in my pocket and have all my debts cleared before they snowball over me.

Sometimes its hard to really put down what you wanna do and go to what you have to do. well... if what you have to do, can allow you to become good at what you wanna do. then i dont see the reason why not?

The road of life is long, the road to becoming rich is slightly shorter, how much shorter will depend on yourself, but dont get lost along the way.

BIG MONEY small money

In rich dad poor dad, they mentioned that, purchasing assets that generate wealth should come before repaying debts. that i agree, but i think when talking about debts, there's a distinction between debts and bills. Bills are necessities you'll need to pay for your daily living.

hmmmmmm.... being in the finanicial industry, i'm seeing a better picture on finance and interests. if i dont pay my singtel bill on time, they will charge me additional $5 for late payment. $5 dont really seems to be alot, but taking into consideration that my monthly subscription is only $7, its an additional 70%.

When you stop seeing small money as money, no matter how much BIG money you earn, will only be going to paying things that make other ppl rich. When you stop seeing where your money goes properly, you'll just lose all of it.

Make it a conscious effort to track your financial status properly.
If you cant pin point it, at least just try to keep of record of all the things you're spending on, no matter how big or small. even a Old Chang Kee currypuff of $1.20. from there, cultivate the habit of keeping track of your finances.

27th Oct 2009

Another 18 days to go before its the deadline for my 3rd month's target.
If i fail to hit the targetted API, i'll be taken out of the EP package.

Hmmm.... for the coming 18 days, i'll give it all my best. if by 15th i do not hit the target, i might have to reconsider carrying on selling insurance on a full time basis.

I'll still sell insurance on a part time basis, but just that, i dont have enough time and money to concentrate on that solely.

Of course, Kok wah will prefer me to be doing it full time, but if i dont even have enough to cover my living expenses, shrug, too bad. unlike what he might think, i dont have any form of savings to lean back on, so i dont have the luxury of slowly getting income.

I foresee that insurance is something i wan to be doing long term, but i'm just not currently financial equiped to do so.

Current Financial Status:
Insurance Premiums - 4k+
Singtel/Singnet bills - just paid
M1 bills - 80+, might incurr $150 for number porting to Singtel
Debts - 3k+
Prudential - 4k, if i get taken out of the EP package.

Road to Success

Smith was driving along the countryside one day and realised that he was lost. Looking ard, he saw a farmer standing in his field. he drove up to him and tried to ask for directions.
"excuse me, does this road leads to the city?"
"All roads leads to the city." the farmer replied
ALL ROADS LEAD TO SUCCESS
Thinking that he might have asked Wrongly, he rephrased his question.
"Does this road goes to the city?"
"This road wont be going anywhere, it will still be here tomorrow"
THE ROAD TO SUCCESS IS STILL THERE AND ALWAYS THERE
Thinking that the farmer dont understand him, Smith tried for the third time.
"Will this road take me to the city?"
"This road cant take you to the city, you'll have to take yourself there."
ONLY YOU CAN TAKE YOURSELF THERE
Smith got angry.
"You're just trying to get in my way to the city rite?!"
"I'm not stopping you. You're the only one in your way."
ONLY YOU ARE IN YOUR WAY
Giving up on the farmer, Smith continued on his way.

Confucius: It does not matter how long, how slow you take, as long as you do not give up til you get there.

Press Ctrl + A to see the hidden messages.

4th Oct 2009

Starting to realise some changes in me after a comment by a friend.

He said that now i seem more confidence and purposeful compared to last year.

After joining Prudential, i start to learn more about goal setting, financial knowledge.

Recently, i'm getting a very strong insight into different levels of financial status. my dad didnt seems too happy about my current choice of work. hmmmm... not that i wan to disappoint him, but i wanna break through and go up in financial level.