** This post is solely personal thoughts and not directing to anyone.
Just now during lunch time, when I was taking the lift I overheard 2 Chinese men talking loudly inside the lift. Not too sure what exactly the things they were talking about, but related to buying things. One man was saying he has no money. The other man was saying sometimes we have to take risk. Buy first, after that think of getting more money. For example the property value has increased lately; those people who bought the second property few years ago are making money now. The first man replying his friend saying it is not possible for him as he's a coward. He won't think of getting a house if he can't afford it.
When talking about spending money, I'm a coward too. Buying things out of my capability definitely is not my style at all. And I'm glad that is not my hb's style at all too. When come to buying things, both of us definitely will budget for it. And we don't spend if not necessary. For example, both of our old hand phones that we bought more than 4 years ago had been giving us problem for months. So we thought of it was time for us to get a new phone. We spent months on researching what phone we wanted to buy, comparing prices, features, phone plan etc. We wanted to get a phone that we can enjoy and yet within our budget. And I never regret getting a smart phone as I fully utilize it to track my monthly expenses, my monthly cycle, checking email, accessing social networking websites, create and track my To Do List, appointments and more frequently, I use it to read eBooks. Unlike most other people, I don't really play games using my phone. I also don't allow my kids to touch my phone to minimize any risk the kids may spoil it. As I intend to use the phone for a couple more years to come. However those do not know us well thought we are one of those people who follow the trend of high-tech gadget and always spend money on getting the latest gadget in the market.
We don't buy things on an impulse. We plan and we work hard on it. Both I and hb are not from wealthy family background. We practice thrifty lifestyle. We believe spend within our capability. Whatever that we are enjoying now is all from our hard work. We seldom go shopping. Since I have to take off my shoe in the office, so there is no reason I need multiple pairs of shoes to match with my clothes. Thus I only buy a pair of shoe a year. I rarely buy new clothes for myself, not to mention any accessories. I can go to work wearing jeans and t-shirt. So I save a lot from buying different sets of clothes for leisure and for office wear. Ever since I give birth to my first child, I have stopped visiting beauty saloon. I also only visit the hair saloon once or twice a year to get my hair cut. I also don't buy expensive toy and clothes for children. We desire for a family trip but we have been holding back of it. The only thing that we are more willing to spend is spending on good food when there is any celebration with the parents. But those are budgeted as well.
Once I read from a Financial planning section in a parenting magazine, it is strongly recommended that we should have cash reserve that can support at least 6 months expenses on stand by, in case anything happen. While we are still working hard on building the case reserve, early of this year we had been hit real hard on it. I'm really glad that we manage to survive this long without asking money from family and friends, or getting personal loan from bank. Although at times both me and hb are feeling very stress and worry over the financial issue as our reserve are depleting month by month.
While we did not ask for any money, do not mean we have extra cash to lend or make any investment. Despite hb got a new job and steady monthly income, but we are depending on his single income now which barely enough to cover our monthly expenses. Though we did not ask money from anyone, but I also do not expect some of them who know about our situation, approach us asking us to lend money to them.
Both hubby and I are the type that prefers to rely on ourselves than borrow money from family or friends. If we want to start any business, we prefer to get our own capital from our savings, or get a loan from bank, instead of asking family and friends. I'm sure everyone save some money for the rainy days, to standby. How many of us really have the surplus to lend money to others? Like my case here, I really cannot imagine what if we have lend our cash reserve to others, how we going to survive in this half year. Sometimes I just wish people stop thinking that we are rich.
When come to money, I'm definitely NOT a risk taker. How about you?
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