Valentine’s Day – You want to travel?

Blessed Valentine’s Day (3 days in advance)

I received this message from Lonely Planet…… sharing with me the 10 “best” traveling places on Valentine’s Day – well, at least for the rich and well to do couples.

Personally I don’t celebrate Valentine’s Day because it is really too commercial. You may say I am not a romantic lover cum husband, I just don’t see the point to buy a stalk of rose for many times its’ price in “normal” days! My practical mind overcomes any slight impulse of wanting to be romantic. 🙂 I thank God that my wife Julia has the same idea. She said, “Why don’t we save that money and spend it on something else on another day, that gives us added purchasing power and value for the same amount of money.” Yay! It’s blessed to have a wife who has the same mind.

I want to share this not because I “condone” spending lavishly on Valentine’s Day………it’s just that the photographs in this are so beautiful that I want you to enjoy the places with your eyes if you are like me cannot afford to be there.

Interviewed by a Chinese Press Reporter

Dear Malaysian Government……………

This may be a dry topic to post about but I see it important to do so because we love Malaysia and the issue affects everyone in this land.

A lady walked to me with a small paper notebook in her hands, politely asked, “Dear sir, I wonder whether I could have a few minutes of your time?”

Half way eating my noodles, I looked at her, thinking that she was just another sales girl trying to promote something to me, I said in a reluctant voice, “What is it all about?”

She cleared her throat and said, “I am a reporter from XXX Press. I would like to interview you to solicit some opinions about the recent hike in petrol prices in Malaysia.” I looked at my noodles and pondered, “If I agree to her interview, this bowl of noodles will become cold and it will taste bad. However, if I don’t agree, I find myself loosing an opportunity to reflect an ordinary citizen’s voice about the Government’s decision.” So, I made up my mind for

Want versus Need – How to Save Money as a Family

To buy or not to buy? That’s the question.

First of all, let’s not get confused with definitions. I am writing this to laymen and not economists. The latter has very different definitions on “need” and “want”. Here I define a “need” as a product or service that we require to live. A “want”, on the other hand, is something you desire to have but is not really essential to your life. Of course, our experiences tell us that it is not easy to differentiate between the two. When our income or earning power grows, some of the “wants” become “needs”.

When I was a student in overseas, I weighed my potential purchases very carefully and divided them into “needs” and “wants” before making the decision to buy or not to buy. The relatively weak Malaysian ringgit really did not give me much choice but to be thrifty in all things.

When I started my family, I decided not to

Manage household finances – Put the credit cards down today

Credit Card – Convenience or Temptation?

One of my friends told me that when he leaves the house, he intentionally leaves the credit cards at home. At the start of the week, he goes to the ATM and withdraws his weekly allowance. His allowance is the only cash he allows himself to spend throughout the entire week.

My friend keeps his credit cards in a place that he cannot access easily. Stashing the credit cards in his basement, attic, or the middle of his freezer typically curbs his spending cravings.

Similarly, my family’s budget is under control because I choose to keep it under control. I am responsible for my family’s financial well-being. For this reason, I am strict with my purchases.

Before I commit to a purchase, I evaluate exactly what use I would get out of the item. If it is a necessity, I make the purchase.

If the purchase is unnecessary, I leave the store and give myself 24 hours to think it over. If by the next day or even the next week, I still want the item and have found a good use for it, I make the purchase. However, most of the time, I choose not to make a second trip to the store. Sometimes, this is real hard but I know for sure In this way, I curb my impulse purchases.

Due to my efforts, my family enjoys extra money for activities spent together. We can use that money as a family, by going to an event, taking a vacation, or having a nice meal with our children.

Hot Air Balloon Trip in Turkey 2008

I don’t put the credit cards down as my friend does. I know very well that I care about our financial security. I will not put my loved ones into financial distress and sufferings because of my spending habits. And so far, I am doing well in self-discipline.

Today, let us make conscious decisions about our purchases. We replace impulse purchases with peace of mind, family well-being and financial stability.

Self-Reflection Questions:

1. How do I spend the majority of my spending cash?
2. Have I ever fallen behind on my bills due to unnecessary shopping?
3. Am I okay with buying less expensive brands in order to save money?

How to manage household finances without emotional stress and arguments?

Household Financial Management – What’s the Big Deal?

Before Julia and I walked down the aisle, many friends told us from their experiences that one of the toughest challenges in marriage is to agree on the ways to manage household finances.

“Believe me, Henry, you are going to have heated arguments on how to spend money.” Sincere and loving friends “warned” me in advance with well intention.

Due to different family background and the way that our parents brought us up, we have different attitudes and habits on spending and saving. We cannot expect a couple to have the same priorities in managing finances. Compromises and mutual respect are keys to work out an agreeable pattern together.

After nearly 30 years of marriage, we must say household finance has not been a great issue for us. Why? Besides the fact that both of us share the same trait of being thrifty, we also established 2 basic principles and stick to them religiously.

1)     Find your comfort level with merging your finances.