To queue for a $1 parking fee redemption

I was out the whole afternoon for lunch and tea with a couple of good friends. They are people who have developed naturally into good friends in recent years as we share similar interests in investing for a better future etc. However, even twin brothers have differences. It's normal.

One friend mentioned how he's impressed that I would queue to make a parking fee redemption of $1 at Vivo City. You know how Vivo City has this ingenious system where they store credits in an account which is linked to your car's IU? After he made the remark, it kind of stayed at the back of my mind. I started thinking.

Apart from the fact that I like to squirrel away reward points of any kind, I do enjoy bargains. I actually do not spend much money on myself and enjoy spending on people I love more. I am quite happy cooking for myself instant noodles or boiling a pot of barley or porridge for a meal. This is usually when I'm home alone. Yet, I enjoy little luxuries like chocolates and preserved mangoes, which are quite expensive. I refuse to employ domestic help and do my own laundry and cleaning. I wash my car myself instead of going to a car wash. Yes, I have a car which is a luxury but it's a practical Japanese brand car, nothing too luxurious. One tenet runs through all my monetary decisions in life: look for value for money as it's not really about affordability. When did I become like this? I can't say exactly but it probably happened in the last ten years. I can't remember being financially prudent in my younger days.

So, when I spend money on loved ones and see them happy, I think it's value for money. Going for a nice meal with my mom at a nice restaurant is money and time well spent, for example. When I buy chocolates and preserved mangoes, I buy them when there is a sale. I can afford sending my car for a car wash but I prefer to do it myself. I can afford a car with the four rings insignia but I rather not do it. I can probably afford to pay for parking but I choose to park for free. Hahaha... I think I'm getting predictable.

I think in all these observations, what another friend said to me is true, that I must learn how to enjoy the finer things in life and learn to spend more on myself. I still remember an outing with another friend when we walked past a Swatch outlet and I saw a nice Irony watch which I liked. Price: S$189. Not too pricey but I walked away. My friend told me I should buy it if I liked it. When I said I already have a few watches and I should not buy it, I got a scolding. Hahaha... I bought the watch in the end and I do like it but my favourite two watches are still the ones my parents gave me very early on in my working life.

I guess everything boils down to being happy. Happiness is never a science though.

Stock market analysts

I used to read recommendations by stock market analysts and thought of them as really clever people who seem to know everything. I thought to myself that these people must get very rich since they know what to buy and sell all the time. Alas, I learned the hard way that nothing beats doing our own research.
I have discovered that the best investments are still those which I have thoroughly researched using primary data provided by the companies, coupled with my understanding of the trends in business, government policies and economics. These are investments which I have the conviction to hold through rough patches as they progress in time. Of course, the buy price is important as well since we do not want to overpay. This can be determined with the help of charts. Ultimately, if we do not feel comfortable with the price for whatever reason (no matter what FA or TA says), don't go in as we would lack the fortitude to soldier on. Being comfortable with our investment decisions is very important as it lets us sleep better at night.

Reports by analysts could be catalysts for us as they bring our attention to certain counters and we should follow up with our own research if we are interested enough. These reports are also useful as they give us information which we might otherwise find hard to obtain such as up to date data provided by interviews with key company executives. Just don't take what analysts say as the gospel truth.

There are many books on FA and TA in the bookshops and I've found the DUMMIES series very easy to read and digest. If we want to be an investor, we have to know fundamental and technical analyses. Of course, as we grow older, we accumulate priceless experience. There is simply no substitute. I am still working towards the goal of having enough passive income to free myself from a life of work because I have to. Equiping myself with FA and TA skills is the way to go. Identifying trends and value: FA and TA