Best credit cards for large purchases in Singapore.

How to be ahead of the game?

Please don't believe everything bloggers tell you. Sometimes, bloggers can also be minions of wealth destruction.

A personal finance blog says if a designer bag you want arrived earlier than expected and you haven't saved enough for it, there are some credit cards with benefits which you can consider using. OMG!

It doesn't matter what they say after that because that is just so wrong in more ways than one. 

Ask why the blogger said something like that? What was that blog trying to do? The blog says "We compare, you save." I find that ironic.

I think they are comparing the wrong things lah.

I compare for you and you save some money. Why this bag cannot use? This bag $50 only. Why must get a $500 bag? What? $500 is not designer? $500 is mass market? $10,000 then designer? OMG!

OK, you might not like this but if you must save money to buy a designer bag, obviously, that bag is not for you. 

Sorry if it hurts. 

Often, the truth does.

Remember, to someone with $1,000,000 in savings, $10,000 is like $100 to someone with $10,000 in savings. 

If you only have $10,000 in savings and you spend it on a $10,000 designer bag, you have nothing left. Zilch! 

That millionaire might no longer be a millionaire after buying the same designer bag but $990,000 is still a lot more money than zero.

What? Not enough money, use credit card? Who say one? Oh, that blogger say one.

Saw the video? AK even has the weight of the MAS behind him hor. Which MAS? You say leh?

AK got slogan or not?

"AK nags, you save." 

Alamak! Who threw a shoe at me?
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From my FB wall:

Related post:
Wealth and habits.

Minions of wealth destruction.

I have warned against the evil installment plans and their minions. Don't remember? See related post at the end of this blog post.

Minions can be in your face or minions can be in disguise. One way or another, they will lead to wealth destruction.

What? Pay for a purchase using interest free installment plan offered by your credit card is not wealth destructive? Aiyoh, they will take money from you in another way lor. Don't believe me?

Reader:
AK, did you blog about how having a lot of credit cards and debit cards will insidiously suck annual fees out from you when you least expect it? Recently i have been hit with quite a number of those and some banks refused to waive the fees. And i couldn't cancel the card as i have a on-going installment payment. Hopefully can warn others reading your blog not to charge those 12 or 36 months payments anyhow to your credit cards, later you kena those banks don't want to waive your annual fees and you can't do anything about it. I'm cancelling all my credit and debit cards save the 365 credit card and two ATM cards. Thoroughly disgusted :( $192 down the drain.

AK
Oh, I never use installment plans de. That is consumption debt. I dun like. I buy, I pay one time and that's it.
I can cut and paste your experience in my blog. Can?

Reader:
sure, just hope others will learn from my mistake

See? I never bluff you.

Related post:
Evil installment schemes and minions.

Be a wealthy and happy peasant. ("Singapore is one of the world's most unhappy nations.")

Reader says...
AK talks about how we should make more money, save more money and try to be financially free.

I am trying my hardest to be like him. Must have $150K in annual passive income and $700K in CPF account by age 45.





Alamak! 

AK didn't say to be like him! 

Mai luan luan gong hor.

I always say I am only talking to myself here in my blog but since so many people walk past my home and eavesdrop on a daily basis, I want to issue two statements in my loudest voice.





1. Don't compare yourself with AK or anyone else!

You are you. 

I am I. 

They are they. 

Everyone's circumstances are different. 

Do what you need to do to become financially free but do what you can do. 

Don't give yourself too much stress!






2. Don't become unhappy in the pursuit of financial freedom!

I know someone who was working very hard and trying to save more money. 

He did save a lot of money within a year but he was burnt out and depressed at the end of it.

All of us are made differently. 

Know ourselves. 

Cut ourselves some slack if we have to.





Alamak, I think I am going to get a sore throat from talking so loudly. 

Going to brew some liang teh now. 

See? AK listens to his body.

Aiyoh, why are you still here? 

What? I only talked about the happy part? 

I left out the wealthy part? 

Go read related post #2.

If you understand Hokkien, go to related post #1. 

I hope it puts a smile on your face.

Cough.




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"Singapore is one of the world's most unhappy nations." 









Related posts:
1. Be happy!
2. Three attributes of a wealthy peasant.

Three attributes of a wealthy peasant.

Life can be unfair. 

Why am I not born into a super rich family? 

Why am I not born with super model good looks? 

Why am I a peasant?

Oh, did I hear someone say it is unfair that this peasant is relatively wealthy?

Is it unfair that I have what I have today? 

Well, in a way, it is. 





I am being honest when I say luck plays a part in life. 

However, if the sour grapes just focus on when and how I have been lucky, then, they might have to stay sour or even turn bad. 

Why do I say this?

Life is also fair because, unless we are very unlucky or lucky, we are rewarded or penalized for the decisions we make. 

Remember the three P words.







Prudence in personal finance means not spending more money than we make. 

If we are more prudent than most, all else being equal, we will save a big part of our income. 

Being prudent, we will keep our needs simple and our wants few to avoid wealth destruction.






Pragmatism in personal finance tells us not to complain that the system is against us. 

Feeling sorry for ourselves is rarely helpful. 

Instead, we should see how we could make the system work for us so that we are more successful in wealth creation.





Patience in personal finance is something, unfortunately, many do not have. 

Patience is required for most of us to save a substantial amount of money, patience is required for compound interest to work and patience is also required to build a portfolio of investments that generates meaningful income. 

Being patient avoids wealth destruction as we delay gratification. 

Being patient helps in wealth creation.





For any peasant (i.e. an average person) who wants to be wealthier, being prudent, pragmatic and patient can hardly be wrong.






Related posts:
1. The secret of my success.
2. Impressive but am I lying?
3. AK is showing off his CPF.