When I was in secondary, I started to dream of this and this:
I saw other people have it, thus I also want it - My older brother and sister and other friends own the thing in first picture. (wait did I say owned it? Technically it should be own it with loans.)
When I first graduated from university, I still dream of the above. I want to work hard to earn and own it.
I saw many of my friends own the thing in the first picture. But what puzzle me is how did they manage to own it? where did they get so much $$$ to buy it in the first place? (At time time, I was noob. I did not know that they owned it with debt that kills a large portion of their pay.) Nevertheless, that time I was jealous and hope that one day I can own it too!
However, around 2 years ago till today. I did not dream of above anymore even though my friends now own more than the first picture, they own the thing in the picture below and they complain to me that it eats up all of their cpf and their take home pay. Some even told me that they scare of losing job and have to work hard to secure their jobs for 30 years or even longer. But is there really job security nowaday?
Today, I only own the thing below with little debts. (maybe 1/3 or 1/4 of what their owed banks for the above nice thing.)
Look old and sluggish right?
I may seems to be cheapo to my friends, but....
I know that half of my monthly cpf can cover the monthly installment. (for your info, my pay is not high. In fact much lower than peers.) Although I don't have the so called luxury, but I am happy and content because I know that I can clear the above debts in at most 10 years using both mine and my wife's cpf if I want to or I can clear it immediately with all the cash and cpf both of us have currently. In addition, I do not need to be a slave to my job but I still want a job because i need $$$ to play with Mr Markets for the rest of my life :)
I forgot to mention. For my transport, I have this:
By the way, do you know what is BMW?
In future, I will aim for the second picture which I posted earlier but not for my stay :)
So ultimately, one day I will own something which my friend owned when they first grad but at much later date.
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End of story. So what is the moral of the story? I can think of a few. Please feel free to add on.
- Be content with what you have
- Plan your finance well. Others may looks glamorous in front of you, but you don't know what happen at the end of month when the bills are in. A debt free person is a happy person. A galmorous person may not be
- Delay gratification helps
- Have a dream
- Know the difference between wants and needs
- Live within your means
