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Sunday, July 27, 2014

People know that AK is frugal. People know that AK buys stuff when he sees value for money.

However, life is never perfect. Why? Well, it is just the way it is. It is about being human. AK is not perfect. AK is as human as any other... er... human being.

I try to be rational but I have weaknesses too. It is a drag to be rational all the time, anyway. So, how? I give in to weaknesses from time to time lor.

Banana? Stunned?

Don't believe me? The proof is in the pudding... er... ice cream (and more):

1. Ice Cream! See: High class ice cream.

2. Restaurant visits! See: Soup Restaurant.

3. Rolex watch! See: Vintage Rolex.

4. Tag Heuer watch! See: Repairing a watch.

5. Stayed in a Junior Suite! See: HK Hotel.

6. Bought a car! See: Bought a new car.

7. Stayed in condo! See: Photos of AK's home.

See? I don't bluff you, right?

You can say plenty of stuff about AK but at least he is honest about being weak.

Bad AK! Bad AK!


Anime fans might know this scene from 
One Piece.
Stuck on a rock in the middle of an ocean, they ran out of food but had a whole sack of treasure. What use was all that treasure when what they really needed was food?

In our modern day society, having more money is good. Having more money gives us more options. However, remember that money is used to exchange for goods and services which we need or want in life. That is what money is for.

Don't be a 守财奴 (i.e. scrooge). There is no point in having a lot of money and have no happiness.

Please read a story from AK's past: 
How rich is rich? (14 NOV 2010)

P.S. While avoiding being a 守财奴, try to insist on having value for money. Sorry, I couldn't resist saying this. -.-"

Related post:
Kopi with Song Stonecold: Getting value out of everything.

25 comments:

Roy Thian said...

I like this post a lot. Makes sense.

AK71 said...

Hi Roy,

Really? Whew! I was afraid of the potential backlash. LOL. ;p

pf said...

Huhhhh. ...ok ley, i don't even see these as indulgence. Merely preference.

After so many years of working, I still wearing my cyma watch that cost me around $168. See no reason to change a trusted companion.

I would rather spend $75 a night staying at an apartment in hk (or even paris!) just because I traveled too much for work and would like to have the comforts of home on my own trips.

But i cannot say i am frugal. Whhahaha....

Eh...why r u posting this?

Btw, always gg for the most value can also be very annoying. Hee hee hee....Recently had a case that involved 2 rounds of 30 to 45min discussions over saving $6. Don't ask me. I tried not to be involved. Almost died then.

Rolf Suey said...

Hi AK,
I was a little surprise seeing this blog about your spending. But anyway, I think that is absolutely nothing wrong and in fact I begin to think you are normal.. Haha.. I think there is a different between frugal and overly "Kiam" ! We live our life only once, if you really like something and it is well within your means, go get it! I also do spend on lavishly at times, but friends who do not know me well thought I anyhow spend and have no savings. But the truth is I save a lot more than I spend! More importantly I do keep rainy funds!
Rolf

AK71 said...

Hi pf,

2 rounds of longish discussions just to save $6? Wow! Sounds like a really major decision! OK, I also don't want to be involved. -.-"

Why am I posting this? To show that I am human and full of weaknesses too. LOL. ;p

OK, I was inspired to write this because a reader said he has been working hard for years and there is this watch that he really wants but he probably feels guilty about buying it. :(

So, I decided to show him that we should reward ourselves from time to time. AK does it too. ;)

AK71 said...

Hi Rolf,

I am so happy I decided to publish this blog post now! Another reader begins to think I am normal! Yipee!

Of course, I am normal. ;p

AK71 said...

Words of wisdom on my FB wall:

Chang Han Thomas: "Should advise thrifty people to spend and spendthrift people to save."

temperament said...

Hi AK71
i think there is a fine line between frugal and spendthrift.
Buy only what you need is frugal.Buy what you want may be spendthrift. But if you can afford it, why? You only live once. Don't live to regret it,later.

i once was with my family on holiday in Switzerland. We went into a Frank Muller watch boutique. i saw a Frank Muller watch that had a special watch face. Hour positions 1 to 12 were all displaying the no 8. i asked the sale-man who was the service agent in Singapore? He couldn't answer me or perhaps he thought i won't buy. i didn't buy.
From that day onwards i have been looking for this watch. Regret? Yes but it's no big deal. As i actually can't tolerate for long any object sticking to my body.
If you like it and you can afford it, think whether you will regret if you don't own it. You only live once.

AK71 said...

Hi temperament,

Yes, we only live once. :)

I like to think that I am frugal but I also indulge from time to time but well within my means, of course. Everything in moderation, right?

If I see something I really like while travelling, I will buy. This is because I have had experience like yours in Switzerland before. Just buy and enjoy it. It's a vacation! ;p

Passive Income Builder said...

I like one piece anime! I am a loyal fan! :)

Stoical Keynes said...

Hi AK,

Weaknesses?

I think you are spending from a position of strength!

6 digit passive income a year plus your active income means you have reached a stage where you should enjoy your fruits of labour.

If you're not spending, then what's the point of the money. Anyway, these are the exceptions and I still think you generally lead a frugal life.

Hats off to you!

Cheers,
My 15HWW

AK71 said...

Hi 15HWW,

I have to admit that I have learnt to be less tight fisted in the last few years, cutting myself some slack when it comes to expenses.

I still remember an outing a few years ago with a close friend (whose family have so much wealth that it would last them tens of generations). We walked past a Swatch shop and I saw an Irony which I took a liking to.

I looked at the price tag and it said $128 or was it $138? Can't remember exactly. Anyway, I decided that I didn't need it and put it back.

My friend looked at me with an incredulous look on his face and said: "You make so much money! If you like it, just buy it! How often do you buy stuff like this for yourself?" Of course, this was from a rich guy but also a close friend.

Well, I bought the watch. Still think I shouldn't have done it. LOL. ;p

paul ng said...

Good sharing Ak. I guess when you lead a frugal life, you can definitely afford to indulge in luxurious moments.
Agree with Keynes. You are able to spend from position of strength. No guilt, no regret, no worries.
Saving and spending is a thin line. We should save what we can so that we can spend what we want.

AK71 said...

Hi Paul,

This blog post is to remind readers that AK has wants too. They might have forgotten past blog posts which are evidence of these wants. ;)

I was told that my blog has influence and that many have decided to give frugality a go which is a good thing. However, we should avoid extremes. We should enjoy the fruits of our labour. I am still learning to do this right. :)

Tony said...

Hi AK,

Just read Marco Polo's 1H report and concerned about it. EPU dropped so much to nearly 0, gross profit dropped 60% also. What do u think?

AK71 said...

Hi Tony,

I expected things to remain challenging. So, this is not a surprise.

Earlier this year, I blogged about how things no longer looked as robust as they did when I first invested in the company: Marco Polo Marine: Reason for price weakness.

I trimmed my exposure to Marco Polo Marine shortly after: Portfolio review.

Things could improve again, of course, but has Marco Polo Marine bitten off more than it could chew? Right now, it is hard to say.

I remain invested because I still like the growth story and things could turn out well but with EPS weaker and conditions remaining murky, it is better to err on the side of caution with a reduced exposure.

Ray said...

Agree!! you can't bring the money with you when you die.... although u can leave them for your kids / loved ones. But hey you can't live for others ALL the time right? Must pamper yourself once in a while. Balance is the key. Anything in the extreme (thrifty or lavish spending) isn't good.

AK71 said...

Hi Ray,

You have hit the nail on the head!

I am always thinking about leaving money for my family if I should say bye bye to this world before they do. I think about it so much that I feel guilty when I think about spending too much on myself sometimes. -.-"

Carson Kuah said...

Erm... not forgetting how much you spend on shares purchase every year? This is what makes you a top 10% spender :)

AK71 said...

Hi Carson,

Oh, no, no, no. Investments are not the same as expenses. ;p

Carson Kuah said...

Haha spending can be on assets too :) that is the difference between good and bad sending. I look up to you on good spending! :p

AK71 said...

Hi Carson,

SMOL who is the bright spark amongst us hobbyist financial bloggers is the expert when it comes to semantics. I blur. -.-"

In the meantime, I will endeavour to continue with my "good spending" on special offer chocolates and ice cream. That is a promise. ;p

AK71 said...

pf said...
Omg ak... R u sure u go DTF to eat xiao long bao ??
JANUARY 20, 2017 AT 11:25 PM

AK71 said...
Hi pf,
I might have gotten lost in a mall and found myself in DTF once or twice before. ;p
JANUARY 21, 2017 AT 9:54 AM

Is it so unbelievable that AK could succumb to temptations? LOL ;p

Unintelligent Nerd said...

Hi AK,

I knew you watch Full Metal Alchemist. Didn't know you followed One Piece as well. What other series animes you watched?

Got any to recommend? (Don't worry, recommend Anime "tips" not dangerous.......compared to stock tips) LOL

AK71 said...

Hi UN,

I stop watching ONE PIECE some time ago. It just goes on and on.

I also watched Sword Art Online and Log Horizon, both of which had a second season.

There is a list in this blog post:
SAO etc.

I haven't been blogging about anime for a long time because I don't think many readers are interested. Also, I am lazy. :p

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