Miss the forest for the trees

Would you drive to Johor Bahru (JB) from Singapore on a monthly basis to stock up milk powder and diapers for your children? On a daily basis, we are confronted with choices to make regarding money. Ultimately, there are no right or wrong decisions but whatever choices you made, they always come with trade-offs. As a wealth builder, sometimes I feel that many Singaporeans miss the forest for the trees.

I saw an article by fellow finance blogger who pointed out he saved $50 by shopping in JB for his children’s milk powder and diaper. He then claimed that if he did so on a monthly basis, he can save a mighty $600 annually. With the magic of compounding, he would be able to pay for his children’s university fees in 20 years. As a parent of two young kids, I can certainly relate to his financial concerns of raising a kid. Nonetheless, I cannot agree with his way of thinking, which is basically warped.

Firstly, there is no way that you can pay off your children’s tertiary education with the above approach simply because most young kids start eating adult food and stop using diapers after 5 year-old. So it is unrealistic to make the 20 years extrapolation. Granted even if the assumption is true, there is no way you can make such explosive returns or saving interest rates enough to pay off your kids’ tertiary education fees in 20 years.


Secondly, as a wealth builder, I will not go through such hassle just to save $50 in a month, simply because the effort is not worth it. Imagine you waste hours on the traffic jam. Not to mention the possibility of being robbed or having your car stolen in JB. Is that $50 even worth it in this case? Would you rather spend quality time with your kids? Would you risk your life facing off robbers? Sometimes I am shocked to learn how money can cause a logical person to make illogical decisions. Think about it and you would realize how foolish some Singaporeans can be.

My philosophy in wealth building is very simple. If I see value in certain things or if the item is a necessity, I will gladly pay. After all, good things don’t come cheap and cheap things don’t come good. You come to this world with nothing and you shall leave this world with nothing. Many Singaporeans have this small-town mentality and hoard money like a scrooge. They count every penny and don’t see the big picture in life. How can they ever succeed in life?

Conversely if I don’t need an item or if it doesn’t enhance the quality of my life, I would not even bother to negotiate or bargain the price. Life is short and you certainly don’t want to sweat the small stuff. There are far more important things for you to address and you must focus in order to achieve your goals.

To be successful in life, you cannot afford to be stingy with yourself or with your loved ones. Saving alone will not help you to grow your wealth and you will never be successful if you are a penny-pincher. You have to learn how to grow your income through enhancing your most important asset – and that is your knowledge. Start to position yourself for success and focus on growing. Saving that bit of small money will never get you anywhere.

If you are struggling with your daily life and hate your job, then you need to question what went wrong that resulted in you not living your dream life. One of the root causes for your suffering could be due to fear. Fear to lose, fear of hard work, fear of no money and fear to learn and re-learn. In fact, if you think carefully about it, fear is a powerful emotion that traps you from progressing in life. There are no easy solutions to overcome fear except to fight it.

Are you one of those who are fearful of improving yourself to become a better wealth builder? Learning to make money is a mixture of art and science and sadly this skill is not being taught in school or at home. It is also difficult to imagine yourself becoming an expert in making money after attending one-day or even one-week courses. In short, building wealth is a life-long journey and I believe there is a structure way of learning.

To this end, SG Wealth Builder is pleased to form a partnership with fellow investment blogger, Dave, from Smart Passive Cash Flow to introduce his new membership site – See How I Trade. Like Dave, I share the notion that to be successful in investing, you must have the commitment to keep learning and earning. As a trader, Dave shares investment related articles that range from stocks, bonds, commodities and derivatives. Members can enjoy the below exclusive privileges:

1) Dave’s Daily Potential Trades

2) Dave Daily Trend Analysis

3) Dave’s Spotting of Big Boy’s Movement

4) Dave’s Weekly Trend Analysis

5) Dave’s Weekly Dow Component Analysis

6) Dave’s Recent Trade Summary

7) Strategies to use in different situations

8) Entries, Stop Loss and Targets

9) Exclusive Articles of unique movements

10) Wealth eBooks specially written for VIP Traders

SG Wealth Builder: See How I Trade

SG Wealth Builder: See How I Trade

For just USD60 per month, you can have a powerful investment tool that can help to level up your investing prowess. To get the discount subscription of USD49, remember to quote discount code: sgwealthbuilder“. By investing this small amount of money, investors can benefit from Dave’s analyses, his strategies and how to set stop-loss.

When it comes to spending monies on sharpening investment knowledge, I know the perennial thinking is that you can do it alone and that there are a lot of free resources in the internet, so there is no need to sign up for exclusive memberships. But just think about it, cheap things don’t come good and good things don’t come cheap. There is no free lunch in this world and nobody owes you a living. Sometimes, in order to get ahead of the competition, you have to spend a little premium to get that edge above the rest. If you ask me, this amount of membership fee is definitely worth it. After all, what can you do with USD49 a month? Instead of wasting it on movies or food, why not invest it on yourself so that you can make even much more money?

So start educating yourself in the art of making money and master the analysis skill on reading the game. Enjoy the ride and have fun.

Join me in my investment journey and read my financial adventures for free! Through the sharing, my vision is to improve and change people’s lives. In school, we don’t learn how to budget, manage our finances, build wealth and invest our money. Instead, we are taught useless subjects which we would never put to use most of the times during our working lives.

Yet, managing our money is an important life skill that is critical to our survival in the society. Many people start to realize how it is importance of managing money only when they face the prospect of financial ruins, by then which would be too late for remedies. Thus, I started this blog to share articles on finances which I aspire to make a positive impact in others’ lives.

You can opt to subscribe email updates on my articles for free by entering your email address below.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Magically yours,

SG Wealth Builder

Updated: June 2, 2016 — 3:25 am

Leave a Reply