Know the answer to this question and life will be better.

1. Before we have a pet, we must have the correct mentality to have one. 

How often have we heard of pets being abandoned or neglected? I

f we are not prepared to be responsible pet owners, don't have pets.

"I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals," Winston Churchill.

2. Before we have a car, we must have the correct mentality to have one. 

It irks me when people tell me that they do not send their cars for regular servicing until they develop serious problems. 

Their cars could break down on the roads and this not only causes problems for these owners but also for other road users. 

It is not just about being responsible for our cars but also being responsible to other road users.

"The best car safety device is a rear view mirror with a cop in it," Dudley Moore.

3. Before we get married, we must have the correct mentality to be a good husband or wife and to be a good father or mother (if we plan to have children). 

We must also have the correct mentality to be a good son or daughter in law (if our spouse is not an orphan). 

Marriage brings with it a great deal of responsibility.

"When a man opens a car door for his wife, it's either a new car or a new wife," Prince Philip.

4. Before we become an investor, we must be sure that we have an emergency fund put aside and we must make sure that we are not investing with money that we cannot afford to lose. 

Again, it is about doing the responsible thing.

"In this day and age, it is really stupid to be stupid about financial matters," Maria Shriver.





Therefore, an important question to ask before doing anything is:

"Am I ready?"


Related posts:
1. The very first step to becoming richer.
2. Vandals and cyclists.
3. Returning our trays and financial security.

Tea with KenjiFX: 3 types of people who borrow money.

There are many types of people who borrow money (from friends and family) and here are 3 types listed by KenjiFX (AKA KenjiWealthMgt in FB):

1. People who borrow and want to repay the loan but lack the ability to do so.

2. People who borrow and never intend to repay the loan even when they have the ability to do so.

3. People who borrow continually.
For example, borrow $50, repay $20, borrow $70 later to round up outstanding loan to $100, repay $30, borrow $80 to round up outstanding loan to $150 and it goes on to a point when they really can never repay the loan in full.

Perhaps, we know some people who fall into the three categories above?

It has to be said that getting into debt is easy while getting out of debt could prove to be really difficult.

Credit Counselling Singapore (CCS) revealed the following reasons for Singaporeans having debt problems:




 49% all debtors helped by CCS blame overspending!

"Just because our friends or family members have a car (or two) or a condo (or two), it does not mean that we should have them too..."
From: If we are not rich, don't act rich.

“We need much less than we think we need,” Maya Angelou.

Related posts:
1. Lending money to someone you care about?
2. An easy way to improve cash flow in life.
3. The secret to avoiding financial ruin.