It’s Friday again and Panzer feels like a zombie because he has not gotten uninterrupted sleep since his daughter still wakes up a few times a night for her feeds.

Let’s see what Panzer’s sleep-deprived mind has been reading to help him move towards financial freedom.

In these days of 7.5% inflation in Singapore and of inflationary pressures the world over, Get Rich Slowly shares what is happening in the US with “Hidden Price Increases at the Grocery Store“. They shrink the packaging and give you less value for your dollar. The incredible shrinking chicken rice sound familiar?

The Simple Dollar does a personal finance book review on “Good Debt, Bad Debt” by John Hanson. Reading personal finance books is one of the important ways to gain insights into personal finance. When you read in depth and widely, you get a good perspective on how people approach personal finance in their lives. He also shares about the single biggest money mistake he has ever made in his youth. What money mistakes have you made in your life? My own list makes me blush e.g. losing $x,xxx on realised losses on shares during subprime last year showing my “expertise” in stock picks.

Lazy Man and Money does a stock check on his personal net worth as well as other life goals for 2008. Do you set goals for yourself towards financial freedom, health and other aspects? Besides personal finance, I enjoy personal development or self-improvement books to basically learn more about being more effective as a person.

The Digerati Life shares “Basic Business Advice from an Accidental Entrepreneur” on her efforts in Silicon Valley. One of the things I learnt from reading personal finance bloggers is that they tend to be entrepreneurial in thinking. While many still have their day jobs, some have grown their blog monetisation efforts into full-time businesses. I aspire to a lifestyle where blogging is part of my life and provides me with the financial means to do some serious lifestyle design changes like what Tim Ferriss expounds in his book, “The Four Hour Workweek”.

Jeflin’s Investment Blog shares a rather sad tale of an American home owner killing herself because her home was about to be foreclosed by the bank. While committing suicide over financial issues is extreme, it highlights how important one’s home can be and if you do not have that roof over your head, life can seem hopeless and meaningless.

The Wise Bread asks a thought-provoking question, “Should Your Standard of Living Rise”? His article addresses one of the most fundamental tenets of personal finance - how to live within your means. In a growing economy, income levels can go up with commensurate increases in standard of living. In Singapore the upgrading frenzy fueled by rising property prices allowed many to live better while jobs were plentiful and the economy boomed. During the 1997 Asian crisis and even earlier during the 1985-86 recession, the economy stalled for and retrenchments and downgrading happened. I learnt valuable lessons during those periods and it has helped shaped why I push myself hard to live within my monthly paycheck by enjoying life without spending more to achieve it.

To wrap up, I leave you with Randy Pausch’s video on his last lecture. For those who do not know who Randy Pausch is, he is a computer science professor in Carnegie Mellon University and gave a inspiring lecture about “Really Achieving Your Childhood Dreams” after being diagnosed with terminal pancreatic cancer. He passed away at the age of 47 on 25 July 2008 leaving behind a wife and three children.

While his message is not related directly to personal finance, he reminds us to pursue our dreams and really life is about people and relationships. Achieving financial freedom allows us more time to touch more lives and to live more fulfilled relationships. When you’re scrambling to earn a living and feel pressurised by debts, mortgages and making a living, it’s hard to really live life.

Have a good weekend.

Be well and prosper.

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