Thoughts on financial planning...

While reading  the daily news lately, I came across a section on retirement planning and provident funds. A top minister in Singapore was commenting that we should start our retirement planning as early as possible. This struck me a bit. I've been very bad with my financial planning and can't even control my expenses well, thus, don't even mentioned about retirement planning. Perhaps I really needed to work out from scratch of a long time financial planning , tracking and monitoring.

I read a few books of late on financial planning and the one which I like most is the one written by Azizi Ali, Millionaire are from another planet.

One of the most basic foundation of financial planning is to watch over your expenses by periodically update your expenditure and monitor your cashflow. Work out a monthly and annual budget and try to stick to the budget as close as possible, of course make adjustments from time to time as the budget is just a projection. Save at least 10% of your income monthly and put aside a small percentage for emergency funds. Your cashflow should be ideally expenditure less than income.

Once you have started savings and have a good foundation, start looking out for other side incomes like doing part time work to complement your main income. These are mainly part time jobs and investments.And, continue to do well in your main job as promotions and rewards will lead to more perks.

Time for me to work out a good financial plan...hope it's not too late to do so.... LOL

Proverbs 24:3-4 :-
Through wisdom a house is built, and by understanding it is established; and by knowledge the rooms shall be filled with all precious and pleasant riches.

Proverbs 21:5:-
The thoughts of the diligent tend only to plenty; but the thoughts of everyone who is hasty only to poverty.


  1. working out the plan it's easy but sticking to it takes a lot of will power and God's help

  2. hey bro.. tell me how .. i wanna be rich like u.. :p

  3. smallkucing - that's where I always failed to keep up with my expenses
    reanaclaire - wait ah.... the S$5.5 million toto results out soon! I let u know.

  4. It's never too late. But sometimes it's kinda irresistible in buying stuff & overspent for a particular month!

    Thx for the add & I'll add u in my blogroll but I guess I'm too get used to my wordpress 'til I don't really remember how to add in blogspot. hahaha :-)


  5. My motto is don't spend more than you earn. :)

  6. Good advice! I also read books by Azizi Ali and they are really helpful! The younger you are to start financial planning the better you are. But I think it's also never too late to start!

  7. very hard but must at least try lar...i shud start soon too maybe hahha

  8. yeah...financial planning is crucial now actually esp to survive in this country...kekeke

  9. Dora - Yes, it's never too late to start but have to keep up with it once started. Thanks for adding me to your blogroll too!

    June - Exactly!!

    foongpc - I find that his book easy to understand and will hope to attend his seminar if there's any nearby. Yup, totally agreed with u.

    manglish - start now..haha

    vialentino - I guess u r good at it... :)