Saturday, April 28, 2012

My Passive Income (Month of Apr 12)

Total Passive Income(Cash): $1845
Target: $3000
Achievement: 61.5%
For passive income 1 and 2, there is no changes.
For passive income 3, there is an increase as I have bought some shares this month.
For passive income 4, there is an increase of $30.

Sunday, April 22, 2012

My Family Expenses (Apr 2012)

Today I shall post an update on my monthly expenses. Recently I have upgraded my wife and my phone to iphone and have subscribed to 3G plan. So there is an increase of $30. I have reduced the amount of other expenses to $220 as I did not spend a lot for other things during the last few months. So in conclusion, my total expenses remain as $3000.

Sunday, April 15, 2012

Don’t just spend on your “needs” and ignore your “wants”!

In a few of my posts, I have always mentioned the following three steps for achieving financial freedom:
Step 1: Learn how to earn money.
Step 2: Learn how to save money.
Step 3: Learn how to grow money.

In order to achieve step 2 with maximum results, one may just spend only on the “needs” and totally don’t spend on the “wants”. However by doing that, one life may be miserable and boring. It is because there is nothing to look forward to since the “needs” are not going to change much in life.

To prevent myself from leading to such a boring life, I always cater a sum of money each year to be spent on my “want”. By allocating a fix sum of money will prevent me from overspending. This sum of money can be used for holiday trips, buying gadgets and gift for my love ones.

My advice is to all is never be a miser. Money that is not spent is not yours and will have no meaning to your life.

Sunday, April 8, 2012

Learning about private property investment

As I have written in one of my old posts, keep learning and expanding your financial knowledge is an important part in achieving financial freedom. This year, I will start to learn more on private property investment as I might be investing in one if there is a great opportunity in the future.

Private property investment, in my opinion, is more complex than shares investment as it involves many things like location, housing loan interest rate, maintenance cost, stamp fee, property tax, rental yield, tenure and commission etc.

I will start off to learn searching the internet for more information and also try to find some books on private property investment. If you have any recommended websites or books, please let me know. Thank in advance.

Have you started your journey towards financial freedom?

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