I was reading 'Money Is Everything' by Azizi. I will recommend any newbies about money to read some such good basic books, instead of watching movies, with over-priced popcorns!

The strategy is to SAVE : Yes, put aside at least(sekurang-kurangnya) 10% of our salary.

It is nothing new ... I have heard of that when I was much younger. But, only recently ... about 7 years ago, when I do not even know about markets(still busy selling keropok at Gaya Street? haha). Yes, it is 7 years now. I FORCED myself to transfer 10% of my salary directly to my wife's ASB(she is a sabahan-bumi). My salary was low back then, so 10% is a huge amount as I barely survived(with my young baby). But, I know it is necessary ...

Today, that 10% I placed could be earned in a day or two. With higher income, I am still failing to place 10% of my income into saving!! So, reading Azizi's book just now .. making me wonder how I could forget to do that for past one year?

How to increase my income becoming my main focus. With salary hike of more than 25% since back from KL almost 3 years ago, I did not increase my savings!! Why? So, that is not an excuse ... I will take another loan(only for bumi) from Maybank to transfer another 10% of my current salary into saving a/c ASB, which gives about 7% annual returns. The loan interest rate is below 5%. Will shop for cheaper rate next month!!

At the moment, I will also put few hundreds per month aside for children's education fund. I do not believe in buying those education-fund policies, letting them to charge u fees etc etc. What do I do with my funds? I will wait for market to collapse ... and go shopping!! Hope it wont collapse so soon so that I could accumulate more bullets for it. Anything gaining 20-30%, I will sell off and wait for next crash. Do that for 10-20years to come, my children's education fund will be taken care off.

With freeing myself from credit-cards debts(I was trapped merely 3 yrs ago!!!), anything extra would go into my investment accounts. Accumulate that consistently, with strong discipline ... I should be doing well, financially ... one day.

So, increase my income .... perhaps, to write a book? Perhaps to work part-time at KFC? Just need to work hard, to generate more income. Then, REDUCE expenses ... stay frugal and simple. Be discipline, can? Yes, frugal(stupid cat laughing) ... do not buy un-neccasary ... learn to value money. Learn to use money to generate more money.

Income minus expense = saving.

That is not a secret ... earn more, use less ... and increase our saving. Make sure we are in cash positive positions. I was in VERY negative merely 5 years ago ... moving out from them norm. Given time, with strong determination to do well, financially ... I do believe I will be able to maintain the 'First Man Strategy".

Do it for yourself too.

All the best

TEH