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Thursday, January 27, 2011

Becoming a millionaire..

Ever wonder why some people make it to the top so easily while some others work hard day and night only to earn for survival. Well, it is not just a matter of the hardwork poured in. It is also about the way one live their lives, use their money and also the type of work that they do. But if you are indeed willing to struggle for it, it is possible for you to be a millionaire. 

The first step besides all the hard work put in your work is the willingness to create a personal expense account.  
You will need to open a checking account just for your household expenses. Then you will need to figure out the amount needed for monthly usage from electricity, food, right til entertainment. After that, put the rest of the paycheck that you are about to receive into savings account for it to accumulate. This is for budgeting purposes and if you felt that you are using more than you earn, it is time to consider cutting on some of the expenses. The money put into savings account will need to be used wisely...if you're under 30, put all those money into stocks...At 30 and above, it is time to consider drizzling in cash, bonds, and other safer investments. 

Secondly, manage your debt well. Debt is important as it helps us to make use of future money. For example, it will be quite impossible and ridiculous for you to fork out the entire 200k plus amount of money to buy a house. However, it is important to make sure that you know your debt and that it is manageable. Credit card could be used for this purpose as well...the ability to use future money and manage your debt will help you gain benefit as most products could be buy on easy payment basis these days. You could also consider the credit balance transfer for purpose of managing your debt and using future money. However, all of these require proper planning and one of the best way is to write it down. By using paper and pen, you will be able to have a clear idea on your debt situation. It is important to be realistic and open about your spending when you write it down. Only when you are honest about your own weaknesses that you could start managing your debt properly. 

Third, become a PREDATOR. While this might sound bad, but you shouldn't really feel guilty about it. It's all business after all. During the bad times, many people will seek to sell their properties at a lower price because they are not able to manage their debt. Here is your opportunity to buy these at a bargain. DO NOT FEEL BAD about it because you are actually helping someone to get into a fresh start. In fact, the economy ought to thank you for helping to boost it. 

Be steady and DON'T PANIC!! 
In investment, there are good times and there are bad times. It is important to look at the fundamentals of the company you are investing. Don't be panic just because of the news and the crowd that seems to be panicking. Hold steady and know when is the right time to let go if necessary. 

Last but not least, be INNOVATIVE and always looking for better opportunity. The world is a battle and survival of the fittest and if you are innovative in your approach to work, chances are you will see a better opportunity and grab hold onto it. 


Tuesday, January 11, 2011

Flowers for home decoration?

Well, in my planning for the new house renovation, my family and I were talking about setting up lightings like those that we see on AVATAR....if you remember the 3D movie that somehow earn a lot of money for the beautiful scenery.

Anyway, I went to look for some people who are good at these and they told me it would actually cost me quite a fortune. I wouldn't want myself to be financially tight down due to these. Instead, I am planning to look for beautiful artificial flowers that could help set a greenish environment, something that I love after watching Avatar. The lightings that would be needed will then be much cheaper. These artificial flowers will be long lasting, beautiful and I plan to look for those that could give an elegant outlook.

After some discussion, the idea of buying artificial plants come into mind as my mother was telling us it would have been better to set up some lightings around these artificial plants instead. It will cost much lesser and the house could still have the design that I wanted. I am really thinking deep into this because I wanted the house to be comfortable and beautiful but I wouldn't want to spend too much on it alone as I have other plans for the usage of my money. I believe this is important because it will be very burdensome to my sister and I if we invested too much on renovation and accessories alone.

The idea was appealing to both my parents and siblings. I have look for some professionals who could probably help us with the floral arrangement and it won't be too difficult to maintain it. This will help lessen my mom's work in gardening. These plants will not only help to maintain the elegant look but it also help to create a warm atmosphere at home. Hopefully, some of my readers who might have more experience in floral arrangement and interior design could give me some of their opinions.