Archive for the ‘Finance’ Category

Pay Yourself First

Summary – How to avoid zero balance in your bank account by end of month
I don’t know about you, but when I first started working, I can’t seem to be able to save money. I received my paycheck, withdraw some to pay this, another some to pay that. By the time I reach the next paycheck, the balance in my account is zero.

Then I think to myself : “Of course la, just started working, obviously will spend a lot to establish myself. I’ll wait for my next increment and by then I must have extra money to be saved every end of month”

2 years passed by just like that, and with all the increments, revision and bonus, I still have zero balance at the end of the month. Now something is wrong!!

Later I learnt of a concept which is “Pay Yourself First“. Buying a new handphone is not considered paying yourself first ya :). Every month when I got my paycheck, I must take out some money and put it in another bank before anything else. And just forget about the money ever saved there.

I’ve already practised this for quite some time and guess what, my lifestyle seem to automatically adapt to my budget, rather than the other way around. Previously, I considered this an impossible thing to do and I may end up drawing the money out of the bank (Actually I really forget I got the money there eheh).

Well it’s very true what they say – “Lagi besar periuk, lagi besarlah keraknya”

————— Personal Note ————————–
A true confession from me. I am a shopaholic. Not in the common way, I don’t go to the mall buying everything I see, but almost everytime I will think of something to buy, how to spend money. laptop, ram, 320GB HD, domain name, car accesories, and many more. I don’t really need them. But it give me great pleasure when I am on a shopping spree. Luckily I still have some control on this. Anyone else out there the same with me?

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