Personal Financing 101

Passive income > total expenses

Once you achieve that, you can slap your boss' face, kick that backstabbing collegue's ass, burn down your office and STILL live your life without worries!!

Ok, i'm kidding about the violence and arson. Come on, we guys are civilised people right?

Today, I had the opportunity to play Cashflow 101 game. I find this tremendously useful. You are given an hour to play 40 YEARS of your life. You won't know how much time has passed until the game master annouced the time. Then, you'll be shocked when you look at your own balance sheet. My balance sheet at age 40 was really, shit.

So what did I learn? A few important lessons that I want to share with anyone who's reading this...

1. Opportunities are everywhere. It is up to you to find it.

2. What may appear as a money making venture can turn out to be your best investment. Again, it takes a trained mind to sniff out such gems.

3. Always be prepared for the next big opportunity. In the game, I lost a positive passive cash flow of 2,200 because I was not prepared and buying so-so investments.

4. Always be aware of your personal financial situation. This is your money, don't expect other people to take care of it.

5. Paychecks are just paychecks. Once you stop working, the checks stop coming. Work for passive income instead. Money should work for you, not the other way round.

6. Don't be afraid. Don't let the fear swallow your drive.

I really learn alot today. This workshop allows me to experience the game first hand. Thanks Ruide.

So, do you want to be rich?

If yes, then why?

The reason must be very personal to you. That reason must be able to sustain you throughout all obstacles. Have you found your reason?

I have.

I wish to let my parents rest. They have worked long enough. They have been in the rat race for too long. It really hurts to see them working day in day out just to put me and my brother to school.

I'm not complaining. I'm definitely luckier than other people. I don't live in poverty.I don't need to struggle to make ends meet. Heck, I know I can get more money from my dad if i asked!

I am truly blessed with such great and supportive parents. It is therefore my duty, and my obligation to provide for them. I dream of the day when I can tell my mum and dad," Enough. Stop working. Now, I am able to, and will provide for the family. "

That is my reason. Tell me, what is yours?