When I was young, I always dreaming of to get rich quickly. I wish that I will be given a chance to make big bucks in a life time. Making big money is an easy job in my mind that time. I think I can I dream to become successful business man. Do you have same dreams too?
This dream continue until I received my salary two weeks ago. It is not my first salary in life but it is my first salary with financial knowledge in life. During the school time, all part-time salary were gone to buying wanted stuff to gratify myself. That time, I never think of what kind of life I wanted to live on and no financial goal in life. As you can see, goal is very important in life. Once you have goal, you will persuade your goal and do certain sacrifice in life in order to achieve the goal.
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I like this idiom, all roads lead to Rome. This idiom mean you have different ways of doing something but achieving same goal. This idiom imply in our life but not many are aware of it.
We all have one goal in life, financial freedom. No one likes to work. No one likes to be in stress. No one likes to take order from superior. Everyone hopes that the y can enjoy without working. So why we work? We work to earn money for survive. We are walking on our chosen pathway to achieve financial freedom.
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Wisebread had compiled a top 100 personal finance blog list on web. What a huge project it is. As you know, there are many scams and useless information on the web. How many can you digest in these world wide web?
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I had been working for 2 months as temporary teacher. My salary increase from Rm1200 to Rm1900 after my graduation. With adding some allowance, my monthly salary will have slightly more than 2k. Wow, not bad. I am starting falling in love with my job. My salary rate per hour is around RM11.
I had been budgeting for my salary although yet receiving it. Craving for it! It always took a long time for the first time government worker to get paid. Usually will take around 3 months.
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Almost all financial expert give advise of to live below your means. In other words, spend less than your earn. If your monthly income is RM2000, you spend less than that amount each month. You don’t buy a 42” LCD TV which might cause around RM5000 or more by installment. This figure have exceed your income limit. A normal flat screen TV will be sufficient for watching. The stuff appear on the screen is exactly the same!
Live below your means definitely is a workable way to achieve financial freedom. You have extra money for saving and for investing in variety of investment. However, live below your means is a get-rich-slowly scheme. You build up your net worth cent by cent.
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If you ever read Rich Dad series of book, you will not be unfamiliar with the Rich Dad Cashflow Board Game. It is a creation of Robert T.Kiyosaki after he retire. You can just imagine cashflow board game just another type of monopoly which bring education knowledge.
Cashflow board game is described as mimic of what happen in real life, where most people is in the rat race. Those who are in rat race are people that spend more than they earn. They live from paycheck to paycheck to settle the bill and debt.
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Financial planning is important if you want to retire early and retire rich. It is just like your travel planning from destination A to destination B. There are several ways for you to reach there which have pros and cons on each of them. Same apply to financial planning. The important is you need have the blue print in your mind how to achieve your goal.
Below are 5 steps of financial planning. Each of them are equal important.
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