10 financial planning and survival tips for the average man on the street

2009
11.03
From Family portraits

When I think back of my childhood, all my memories are focused on our rented 288 sq. ft home. Ironic isn’t it that the NEP is based on the wealth of the Chinese and the relative poverty of the Bumiputeras. We had no land to plant anything for food or any means to earn extra income except through toil and labour.

We had nothing. As a child, I had the upper deck of a double deck bed through which I looked out at the wide open skies through a hole 7cm in diameter.

I did everything I could to earn spare cash while waiting for my examination results or the school holidays. I was a parking attendant, office boy, factory worker and did anything so long as it was an honest day’s work. At the age of sixteen, I was at a friend’s house and his father with scorn told me I would never make anything of myself. Another friend’s mother forbid him from mixing with me lest my poverty taint their family. Till this day I am no respecter of wealth or position. I am myself. I don’t play games or pretend to be a yes-man.

From life is a journey

Then, as it is today, material wealth is a vast divide or chasm which is hard to cross. At the age of seventeen, I fell off my bike while delivering Caterpillar heavy machinery parts ( seals to be precise ). It so happened my boss. a Mr Chong was passing by in his Volvo. He stopped and I was so grateful for his concern and I thanked him. He bluntly told me he was concerned for his Caterpillar spare parts as the bike wasn’t his.

Looking back, I was bound to fall as my Honda c70 motorcycle was so overloaded with spare parts I had to bend over and use my hands to keep them from falling over. Balance was bound to be a problem in the event of an unexpected stop in this particular case a taxi cutting across my path to pick up a passenger.

I knew then my life was cheap.

From French Village

My next boss laughed at me for not spending my RM210.00 per month pay. He asked me why I didn’t spend it as the total amount eventually would amount to nothing as my wages were so small.

From life is a journey

Coming back to today’s post, I am happy and content as I have been through worse. I am not rich but like the squirrel I have saved up nuts for my winter. To set myself impossible goals and make myself miserable trying to attain what is beyond my reach is meaningless.

From life is a journey

Life is a journey and not a destination. If I were to work so hard that I lose today for a tomorrow that may not arrive is meaningless.

From flowers

My health may not allow me to enjoy my winter while my today is past.

From my personal stuff

In my youth there have been times when I have starved, worked until i fell asleep on the dining table until the next morning. So today I am going to share with you how I survived. This is not something from some established economics course in some prestigious university but from the college of hard knocks. Life itself.

1. I had an idea where I wanted to go and wanted to do.
2. I got organized. I made up lists of things I had to achieve with a specific time-frame. I worked towards that goal. When I didn’t meet the deadline, I didn’t bash myself but worked harder.
3. I have always spent within limits. There is no point in spending extravagantly when one’s bank account is low.

From life is a journey

4. I emphasize on important stuff not clutter. By this I mean assets which maintain their value with the passage of time or appreciate. Everything else is clutter.
5. Investments: I always play safe. Everybody wants to earn something from us. There is no such thing as a free meal. I use credit cards as a convenience but I have never used it to borrow money. I save a portion of my income always. A golden rule.
6. I always knew who was boss and acknowledged that the boss is boss.
7. I try not to be greedy or ache for what others have which I do not have.

From Family portraits

8. Family is all important Know your priorities.

From life is a journey

9. Friends are like an oasis in a barren desert. Look for an excuse to smile and laugh.

From French Village

If one’s lips move, it sometimes fools the heart into thinking it is happy.
10. Gambling is a no-no.

From Untitled Album

Of course I worry for my son and his education. But if I worry. so would a million other parents as education is expensive nowadays. But I have done my best within my means. My conscience is clear. That’s life.

Pics are from my archives and for deco purposes only

Just remembered I loved this movie when I was young :) I paid 40 cents for a minor’s ticket, third class at Choong Nam theatre.

18 Responses to “10 financial planning and survival tips for the average man on the street”

  1. doc says:

    you did good, Beng, for yourself & for your family. they should be proud of you!

  2. sarawakiana says:

    Many of us went through hard knocks and heart breaks. Disappointments also were dotted all along the path because we mis-read cues and smiles…we must rise above these.

    Many of my mistakes were due to misinformation (caused by “knowing face but not knowing heart” zie ren Zie mien buh zie sing”. But it is never too late to start all over again with the little we have.

    For a man – family is the basic unit that he has and his investment starts from there…I totally agree with that.

    Thanks for sharing. And may God bless you bountifully.

  3. rainfield61 says:

    BengHui must have learned a good lesson from you.

    Everyone of us has gone through all these journey. Work while waiting for the result, giving tuition to earn some money for the school fee…

    the list is simply too long, and many of us of the same age have gone thorugh all these.

  4. manglish says:

    are you better? i think most of us went thru roughly the same childhood and i always believe that the only way to break the cycle is thru education =) and you have to let BH know your limit even though you will try your very best for him and it will really depend on his own efforts…like mine did hahahha

  5. ladyviral says:

    how is the back doing, BengBeng?
    Hope all is good now.

    We learn a lot from you, the values the greatness, the happiness. :) . It was nice to know more of you.

  6. CK says:

    Thanks for the tips. It is really true. Sometimes just sick of those people that look down on people. I met some which are very ‘lawa’ when have a bit of money and in control, they just treat their workers like shit. In the end, they themselves are workers now!

  7. sakaigirl says:

    Hi BengBeng, just drop by to check out how are you.. Been extremenly occupied with work and study..thanx for sharing..may you alyways be happy and healthy!

  8. Adino says:

    Thanks for the tips. I think younger people like me can learn a lot from the wisdom in these 10 points

  9. xin says:

    i think all the young ones should learn the tips from u, including myself. i am lucky that my parents provide me with everything, but i know all the hardship they went through to have what we have today.i really respect and admire my parents, i want to grow up to be like them too.

  10. dong ho says:

    but a person’s worth cannot be purely related to the money that you have. there are more priceless things that you have that you need to value. let not money determine your success.

  11. ah ngao says:

    yeah,money is very crucial but what you’re made of is the ultimatum.i got my fair shares of poverty too.i used to stayed at one of this municipal council’s flats in Kuching.rental back then was Rm47,…then slowly increases untill about a hundred today(if im not wrong,becoz i dont stay there anymore)fyi,when my papa left us for his final passage,we got nothing from him – just the love he’d given us and thats so good enough.i ever works as a potter,labourer,hotel cashier,bartender,supermarket store clerk ,car-washer cum mechanic (no degree ma…bo lui ma…& also otak not that clever lah,..hehe)and at the mean time,im with the public services(stainless steel bowl,so they said).Bengbeng,our children’s education no need worry one, times come there always a way for manouevres – may be we just lack a little bit of “kulitfication” hahaha!

  12. [SK] says:

    true.. but i think with all the plannings, we should also try to make ourselves happy.. afterall, the definite goal in our life is all about happiness right??

  13. ayie says:

    how is your back? hope you are better now.

    it’s like pursuit of happiness the movie…have you seen that?

    I am almost fully recovered, thank you :)

  14. annant says:

    financial management is what i really need to learn…overspend ALL da time T____________T

  15. foongpc says:

    Very useful tips! I’m sure you’re doing the best you can : )

  16. Twilightzone says:

    You have come a long way man. I like your humble expressions – “I am not rich but like the squirrel I have saved up nuts for my winter.” It stopped me to ponder a bit cos I am still saving my nuts.

  17. JC says:

    I am one of your silent readers and I think a lot of people can identify with your well written piece, myself included. Thank you

    I just want to say I appreciate yr comment. Sometimes it feels like i am blogging to a void when i do not receive feedback. mylongkang started as a means to generate income, it still does but it has come to mean more than that to me. people like me are getting obsolete day by day as time moves on. i just want to leave a little record of my little time here on earth. once again, thank you very much

  18. ann chin says:

    Hi,

    Thank you for visiting my site.

    Are you always from Sibu, I grew up in Sibu, was a junior in Methodist School when Sarawakiana was there.

    Glad to read news and topics from Sarawak.

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