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Saturday, July 7, 2012

Be Prepared

I'm sure most readers are bored to death reading my jottings on 'Financial Management'. Who am I to talk about this subject matter! Yes, it's true I'm not in the position to advise anybody except direct family members. But I just   cannot ignore whenever I come across such articles in the newspapers. It saddens me to see young Malaysians facing financial difficulties at such an early stage in their lives/career. Sad...very sad indeed! Something must be terribly wrong somewhere when an organisation like Fomca, suggested that drastic actions be taken to arrest the up-trend of the rakyat facing the likelihood of being declared bankrupt. Fomca is proposing to the government to '...set up a National Financial Education Commission to coordinate  financial education for all sectors'. 

I'm grateful to Almighty Allah that, even with my meager pension, I am absolutely 'debt-free', syukur alhamdulillah. I'm not a qualified Financial Consultant, just a simple man but with a specific financial objective well before my retirement. I used to tell my friends that when I waved sayonara as 'your obedient servant', I would like at least to maintain my 'standard' of living. Of course, standard is subjective: differs between individuals.

One thing the Armed Forces taught us is to 'appreciate a situation' before embarking on an operation. I still remember my instructor, the late Capt Mustafa (killed as Lt Col in a Nuri crash in Lundu River, Sarawak on 18 Dec 1989) teaching us 'appreciation'. His unforgettable quotations '...So what?' Alah, in the marketing jargon...SWOT analysis: Strength, Weaknesses, Opportunities and Threats. Say you want to buy a car. Ask yourself...Why you need the car - can't survive without it? Sufficient funds to pay for the monthly payments? What about other commitments - children, petrol, maintenance, parking fees, tolls, etc, etc? What options are available - public transport, car pool? After taking into consideration the various factors, and if 'buying' outweigh 'KIV' then, with the budget available, decide the brand/model. Simple, isn't it? But don't be surprised, not many make this mental appreciation before acquiring an asset.

I've been stressing on this topic for so long. Besides writing in the blog, I'd sent emails/letters to various organisations. I offered them to share my experiences with their subordinates. I'm not asking for money. FOC if  within Alor  Setar area: pay the cost of my trip if outside my area. As you might rightly have guess...????

Well,  like I told a soldier before, I can't solve his financial problems. Only he himself is solely responsible to get out of his problems. How can I assist when I don't even know his income, expenditures, commitments, his willingness to sacrifice certain portion of his lifestyle and most importantly...his EGO. In the final analysis, sorry to be blunt, whatever you do...tanggung sendirilah! Don't blame others for your 'self-created misfortunes'. So...Be Prepared.


8 Jul 2012...Addendum
Well...This subjectc is sure no longer a laughing matter

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