Feel Free with 5%

I last blog was on the end of June in hopes that you have started to save 10% first on your June salary. But maybe you haven’t received your salary, so remember to do so when you received it.

Now what do I mean by feel free?

First, the old saying, “ You forget 70% of what you read, 50 % of what you listen” but when you READ and LISTEN you remember 70% so when do you remember 100%? When you feel it (or do it), that is the time. So, my next suggestion is for you to

Spend 5% of your salary ( after deduction) to Feel Free.

What free? Financially free.

When do I get to do that? Do you have this question in mind?

Well my mother always says, Save First Then Spend later. So, you can spend it after you have saved the 10%. But you must spend it in the month you get it. Say you get your June salary in July, you spend the 5% in July. Don’t bring it forward, unless you have bigger enjoyment plan for it. (Example, a travel fund for an oversea travel you really want to)

Spend it on what? Spend it on things that you never dare to do just because of the price. Some are afraid to go into Starbucks, Some are afraid to go into a Steak House, for some it might be the climb up KL tower. So, go do IT! Spend that 5% on it, and feel the sense of being financially free to try these things out whenever you want to.

5% is not enough? That simply means your paycheck is not big enough, rite? That the 10% you save first is meant for. Invest your 10% accordingly so that you can have a passive income and together with your working income, you would be able to use 5% to just do it.

Now we are back with Emma, you know she had only 1 dollar. So 5% is 5 cents. What do you think she spend it on? She actually bought a sweet with it. Does she feel financially free by eating a sweet? SURE NO. That’s what make her to save and earn more. After twelve month, she had 5% out of 2048 dollars to spend. How much is that? 102.4 dollars, is still not enough for her, I hope. ( Only unfulfilled people would move further up the money road).

So, start this month (after you saved 10%) and

Feel Free with 5%.!!

By,

Yong Yeong Chow : Public Mutual Unit Trust Consultant (Certified Financial Planner to be)

MSN : yyc83@hotmail.com* you can chat with me there