Goals to Financial freedom

My current most important goal that I have now is to be financially independent. I have been dragging on this too long. Arm with no savings.. this is not the route that I would like to head.

Currently I am reading the book from the library
Smart Women finish rich by David Bach. This look really interesting with a program to show how I should start my plan. I have no idea how to go about doing it..

Summarising while reading the book..
under Learn the facts and Myths there is a quote that catches my eyes

A wise woman once said ," It's not what you know that can hurt you but rather what you don's know,"

Dont fall for the common myths about money

Myth no 1- Make more money and you will be rich
this seen logical but what wrong with this myth?

The key to wealth is not finding some quick and easy way to boost your income - its simply the fact what determine your wealth is not how much you make but how much you keep of what you make.

The problem is not in our income, it's what we spend!
The typical 50 year old has less than $10,000 in savings!

Recommend book ; The millionair Next Door written by Tom Stanley,
He interviewed hundreds of millionaires and came up with some findings that suprise.

Here are one Stanley finding that catches my eye

• Millionaires are dedicated investors on average investing nearly 20 percent of their total household income each year




• fully half of the millionaires surveyed never paid more than $399 for a suit




• majority drove older cars




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spend more money than you make then you have more problem

Pay off all the credit card debts

Pay all off the loans

My thinking: Change your spending habit - if you cannot control using the credit card. It is better to do without the card.

One of the most fundamental principles of smart money management is self reliance

Dont ever put your entire financial fate in someone else's hands

Myth no 2: My husband will take care of me - cinderella myth

Creating my goal

• Enjoyment


• achievement


• Spending value time with family


• happiness


• Freedom


• security - what is the basic goal that i want to achieve

Find your stuffs - mean all your documents etc

Create the file system below

1. Tax return


2. Insurance


3. Retirement


4. Insurance


5. Children


6. saving accounts


7. Household


8. credit card debt / loan


9. Asset


10. Other liabilities


11. family will and trust


12. Inventory planner

Write your own cheque - you can start with SGD100,000