Dear friends

The more I journey towards financial freedom, the more I realise I should reflect on the week’s happenings to see if I’ve learnt some valuable lessons in terms of implementing the steps towards it.

Maturity and growth comes from examining ourselves and reflecting if what we’re doing is aligned to who and what we want to be.

Living within my means

Generally, I don’t have a big issue with this mainly because I’ve developed frugal habits over time. For instance, the Samsung Omnia I’ve been eyeing has still not made it to my purchase list yet and I’m still working okay with my faithful Treo 650. I’ve given my colleagues a treat for a farewell/welcome situation but it has not been lavish.

I would be able to live way below my means if I didn’t have my family to support. As my spouse is not working full-time, I have been paying for most of the shared expenses even since marriage until my daughter was born. Sometimes I do wish that my spouse could be financially more independent but it’s easier to change yourself than to change others, so I just tighten my own belt and still manage to save something after providing for 4 mouths in my family.

Savings and investing

I still manage to save a bit (on top of Central Provident Fund contributions) partly due to not indulging much. My real vices are coffee and an occasional gadget. But since I’ve been able to keep my gadget buying in check, coffee needs are easily met through a simple $0.80-$1.00 cuppa in coffeeshops and cafeterias. That beats the 3-in-1 reduced sugar that I drink at home.

I’ve been more selective in investments mainly because already 70% of my investible funds are in shares so there’s not that much to invest until the next payday.

Growing my means

In the meantime, I believe my efforts towards Panzer’s Road Map to Financial Freedom would help me spin off a modest source of alternative income when it is launched in 2 months’ time.

Protecting my means

I recently upgraded my own shield plan as well as my daughter’s to an “as-charged” plan to mitigate the costs of potential hospitalisation and surgical needs. This helps reduce the risks of hospitalisation costs but I opt to self-insure the deductible of $3,000. My daughter though is covered with some additional coverage for a per-day hospitalisation payout that will come in handly for smaller bills that do not hit the $3,000 deductible.

Life and Living

My journey towards financial freedom has revealed to me the paradox of life. The more I succeed in moving closer to financial freedom, the more challenges I face at home in terms of relationships. Mind you, it’s not because I’m working long hours and spending time away from family but despite helping out at home in almost all my spare time, family relationships especially with my spouse are far from ideal. In fact, it gets stressful at time and that’s why I allude to the fact that as I am winning the battle (towards financial freedom), I may have started to lose the war (in having a happy family life).

I am still hopeful but also feel sometimes tired from some of the issues that appear to be unsolvable. I realise that I’m also human and cannot achieve success in all aspects of my life. As the saying goes, “Man proposes, but God disposes…” I’m trusting in God to help get me through this tough phase which as persisted ever since my daughter was born.

I do hope that sharing my thoughts on financial freedom will help you find clarity in your own quest to financial freedom. I don’t claim to have achieved it. I’ve paid off my housing loan which is a big achievement and am making progress in terms of moving towards financial freedom. But I’m also a human being full of foolish decisions made now and then and also face challenges in other aspects of life.

The only people who have no  challenges in life are those who are dead.

I wish you the best in each day of your own journey towards financial freedom and happiness in life.

Be well and prosper.

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