As I was telling Mae & James , my most of my relatives rear chicken, sell chicken and cook chicken – chicken sellers are filthy rich. My uncles, aunties and cousins are driving Estimas, Mercedes, Nissan Muranos and Honda Accords. As for us – the only family with graduates, are still owing the banks for our miserable Kenaris and Wiras.
Chicken business is no joke. It’s a multi million dollar dirty job.
This post is not about how to make money out of selling chicken. I am not going to share their secrets. If I know, do you think I would still drive a Kenari?
That makes all of us think, are we going to be slaves forever – slogging our asses off just to make ends meet? We owe the bank huge amounts of debts – car, house, credit card, etc.
With the fake inflation rate as announced, things were so much more expensive now. I was shocked that, 6 Dunkin Donuts which costed me RM5.90 ten years ago is now selling at RM10.50. Inflation rate 4% per annum? Bullshit. Probably what they meant was – 4% compounded interest. So meaning, taking the Dunkin Donuts as an example, in 10 years, it’s probably more than 100% inflation now!
So folks, make your money worth every cent. Make your money work for you.
How do you make your money work for you? I am sure there are numerous articles in the newspapers or financial magazines that would help you to plan your financial goals.
You could start by setting aside some money every month. Yes – I am no good in this as I am a bloody spendthrift. I force myself to save most of my money in insurance and unit trusts. So, if I fall seriously ill, I would not worry about squeezing my parents or my friends off for medical help. If I kick the bucket, I don’t have to worry about expenses for my funeral. And when I could not work due to serious illnesses or even invalidated, insurance would take care of my needs. It still befuddles me that people wanting to buy insurance to make money. It just cheeses me off. Insurance only works when shit happens and it helps tremendously in taking care of your needs when you are in need the most.
Putting money in the bank in fixed deposit is not really practical either. The rate now is only 3.2%. Inflation rate? 4%? You lose 0.8% to time cost. You have to remember, the inflation rate is bullshit. So, you actually lose more than that. Your money shouldn’t be a sitting duck in the bank to be devoured by inflation; you ought to seriously think of where to put your money. I was glad that I put some of my hard earned money in ING unit trusts. I was glad that instead of getting -0.8% if the money sits in the bank, I have gotten averaging 12% per annum. Imagine if someone puts in the bank – fixed deposit for 10 years. For no reason, your money would be drained out. RM1 today is no longer the same as RM1 ten years ago. You get my drift?
To make matters even worse, we have clowns from the circus managing our retirement funds – the EPF. Instead of thinking how to invest the people’s hard earned money intelligently and resourcefully, they thought of ways to manage how people should withdraw money towards their retirement. I mean, come on! This is OUR money. What we want to do with it, it is our problem. In my personal point of view, it is best to utilize your second account to finance your house as soon as possible, rather than letting interest or inflation eats into your money’s worth.
Note: This is a personal point of view. It may vary from one individual to another and shouldn’t be taken as the ultimate advice on managing one’s money. What you want to do with your money is your problem. This post is to create awareness that there are alternative ways in managing finances.