My superhero always tells me that
"With great power, comes GREATER responsibility."
Yeah, I couldnt agree more. No, Im not talking about some inhumane superpower here but some simple something that all of us can relate - THE MONEY. Okay, before you jump into conclusion to misread my quote above by thinking that im saying THAT because I have so much "power" - PLEASE. Im living on my pay, which is peanuts. Oh, btw did I tell you that I may not be getting any promotion within this first two years and potentially no bonus as well? Ok, lets save the rant for the later.
So, who doesnt LOVE money? I know I do. I love em so much that every now and then, I spend them on unnecessary things. Occasionally, I would also spend the money that I dont have (please burn my credit card now). I know a lot of people think that Im still young to worry about the future, but having seen some actual incidents taking place at my workplace where one day they wake up with no job - I dont think its ever too early to prepare.
I did some research and agree with some of the stuffs that most successful people say:
Saving dont get you anywhere, Investing does. However, until I can find a suitable way of doing business, or consolidating my portfolio of passive income, I'd best to accumulate my own capital first - that is through SAVING! Besides, Im not in rush for anything. Good thing my mom taught me well to live a frugal life (at least, by my standard of frugality).
Of course, to those who tried-and-failed knows that saving is a hard thing to do. Its a curse that many cannot do - invisible handicap. I fall victim to this disability too. After various methods of trial & error, I finally found a better way to actually do this. Its not a rocket science, its just a simple philosophy in life that allows me to set aside temptation and prioritize better:
PAY YOURSELF FIRST.
A simple phrase made of 3 simple words can be powerful and motivating. I am now a firm believer of this philosophy in life. I dont know who coined this term, but after reading about it, I am sold to the idea.
I wont tell you how to run your life, and I wont tell you how things should be done. What works for me may not necessarily work for you, so you should really dig deep and find what works best for you, and
STICK TO IT! Having a winning formula means nothing if you dont actually do it. Fair?
So, whats MY stories then? Well, every month right after I get my pay, I would always pay myself first. I make a point not to settle any bills, rent, or anything that requires me to fork out money from my bank account before I have set aside some for my savings. I have a threshold that I need to meet, but I try to be as flexible as possible, for as long I pay myself first, I couldnt careless where the rest of my money go. It can be from as little as Rm50 to all the way to Rm1000. This is me, respecting myself, and whilst the amount may be insignificant, never under-estimate the power of compounding interests.
The best part is, that Rm50 that you put aside to pay yourself first does greater things to you than you actually realise. Its about getting you in motion, and nurture your self-discipline. Sure, you hardly have any extra left after all the deduction, but if you think that u'd save when you earn that Rm4K or that Rm5.5k - think again. Ive seen people telling me that they'll save when their pay hit Rm3k monthly, but it never happen. Instead, they come out with another target to start saving when their pay hit Rm4K, but guess what?
It never happen too. I know myself better to know that we human always adjust our lifestyle exponentially to our small increment. The more we make, the more expensive our wants are. What, cannot handle the truth?
Not my problem.
So, Ive made my point. It is up to you to define this philosophy. Or, if you dont like these 3 words, please feel free to create another. As long as you admit your weakness, you'll eventually see the result. The next time when your pay hit Rm6k, u'd be surprise with how much you'll accumulate at year end, all because you have prepared for it. Remember, KLCC was not built in one day. Baby step people, brick by brick, cent by cent. Oh, and when you think youve accumulated enough, why not venture into a business and triple the figure up?
ALL THE BEST!
