Passive Income Exceeding Expenses

In my previous post, I explained that to have financial freedom is to match your passive income with your expenses.

However, it’s important to remember that often, this is not sufficient.

Why?

Well, imagine if you have $10,000 per month of passive income and $10,000 per month of expenses. Yes, this is financial freedom. You are now able to retire comfortably, spending time with your family and doing the things you love most. You no longer have to work for money. You let money work for you.

However, having passive income level that EXCEEDS (not only match) your expenses do have its own merits.

[Read more…]

What is Financial Freedom

To break the confusion, I think I need to write a post about the concept of financial freedom. I’ll try to provide explanations based on my understanding and my definitions of financial freedom.

First of all, let’s define Wealth, Rich, and Financial Freedom:

Financial Freedom (My Definition)

Deriving income from your assets (investments or business or both) that exceed your total expenses. These income is called PASSIVE INCOME.

Rich (Dictionary.com)

…having wealth or great possessions; abundantly supplied with resources, means, or funds; wealthy: a rich man; a rich nation.

Wealth (Merriam-Webster.com)

…abundance of valuable material possessions or resources.

So, for now, fair to say, rich and wealth is the same thing? Ok, definitions out of the way.

Also, one important thing to note is that to me, the terms rich, wealth, and financial freedom are interchangeable. Continue reading on why this is so.

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Tips for Credit Cards & Bank Account Fees

While in Commonwealth Bank yesterday, I came across two little flyers on bank account fees and credit cards. There were a few useful handy tips. Here they are:

Be Smart with Credit Cards

  • Use your card wisely – a benchmark is your average monthly spending on your credit card should be 20% of your credit limit.

Flight Pattern Art Video

I found this art video on YouTube which I thought was.. quite nice.

The dude, Aaron Koblin, used flight pattern data to produce this video. Have a look.

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My Girlfriend’s Experience with a Shoe Store

Recently, my girlfriend went shoe-shopping in One Utama in Bandar Utama.

She went to this shop that sells Skechers shoes. (Can’t remember the name)

There were two sales assistants. A lady and a dude.

She took a pair and proceed to the check-out. The lady said “If you don’t mind, fill in your details in our guest book. We’ll keep you up to date with our latest news and discounts.”

My girlfriend said “Ok” and filled in her name and mobile number. (I told her many many times before to not do this! Haih..)

At the checkout, she also said “Abang kat belakang tu kirim salam”

The next day, she received a a random SMS. It reads:

“Hi. I’m from the Skechers Store yesterday. Boleh berkenalan?”

Bastard.

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Malaysian Library System

Have you been to any of Malaysia’s library? If you have, you might know what I’m about to say here. If you haven’t, then you don’t know what you’re “missing” out on.

I’m going to share my experience with two libraries. One is our National Library in Kuala Lumpur and the second one is MPPJ Library in Petaling jaya.

National Library (Perpustakaan Negara)

To be a member of the National Library, you need to fill a form (need to pay for the form), then proceed to another counter to pay for the membership card. Can’t recall how much they cost.

After receiving your membership card, you proceed to the entrance. A security guard stops you. He checks and says:

“Dik, ni semua tak boleh bawak masuk ni. Beg tak boleh, file tak boleh, gunting tak boleh, botol air tak boleh masuk, etc. Kena letak dalam locker”

By now, you’re like WTF?

Last time my partner and I myself went to National Library, here are some of the items that can’t be brought in:

1. Bags
2. Handbags
3. Plastic Folder
4. Water Bottles
5. Scissors (National Library, if I wanted to steal any part of your books, I can just rip it off la! No need scissors).

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My Second Painting

I finished another painting last night.

Here it is:

Second Painting
Acrylic on 9″ X 12″ Canvas

I was trying to achieve the “splashing-paint” effect. I made a mess! Good mess I hope 😀

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I got bored… So, I became an Artist!

To be more exact, I got really worried waiting for the release of my exam results yesterday. So, I went to the nearest shopping mall, got a few painting kits like canvas, brushes, paints, and decided to start painting. The thing is… I hated the subject Art Education (Pendidikan Seni) when I was in school. Hated it so much.. Haha..

Who would have thought, me. Painting. The surprising part is that… I liked it!

LOL!

The end result didn’t turn out great but heck, as long as I’m enjoying myself right?

So, here you go. My first ever painting:

My First Ever

Acrylic Paint on 7″ X 9″ Canvas Panel

[Read more…]

Why Not Everyone Can be Wealthy

I hope most of you have read my article “Why everyone should be wealthy“. This particular post is pretty much related to that one.

Before I continue, let me say that a lot of the issues I was going to cover in this post has actually been covered in the COMMENTS section of “why everyone should be wealthy.” So, I’m going to touch just a little bit on this issue.

Let me say that my definition of being wealty, rich, is actually achieving financial freedom. To me, financial freedom, wealth, rich, is interchangeable. Also, do understand that the meaning of financial freedom is rather subjective. It is up to the individual to interpret the meaning. One can claim to be financially free by having a passive income of $1000 per month while another can’t regard himself as being financially free even though he gets $100,000 of passive income per month. Also, having 50 billion dollars passive income per month but spending 100 billion dollars per month does not constitute as financially free to me.

Whatever it is, it is great to have “everybody” working towards a common goal of financial freedom. However, realistically this is not achievable. In fact, it should not be achieved in full scale. Here’s why:
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Nadlique Domains : Store Launching SALE SALE SALE

~~~~ http://www.NadliqueDomains.com/ ~~~~

For my Malaysian friends, why pay RM55 for a .com domain name? Come to Nadlique Domains and pay less than RM30! This is at the current promotional price of USD7.49 with the exchange rate of RM1 = USD0.298.

To celebrate the launching of my new store, I’ll be having special promotions for my prospective customers:

  1. All new .com domain name registration will only cost you USD7.49 per year instead of USD9.99
  2. All .com domain name transfers will only cost you USD7.49 per year instead of USD9.99! With this promotion, you get a year registration plus all the time remaining on your existing registration.
  3. .net registrations only USD8.99 instead of USD9.99
  4. .mobi registrations only USD7.99 instead of USD14.99
  5. .info registrations only USD1.99 instead of USD9.99 (Can’t get any better than that!)
  6. .tv registrations only USD29.99 instead of USD44.99
  7. Private registrations FREE when you register or transfer five or more domains

[Read more…]

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