OutSpoken

The economic downturn especially during mid-2007 has created a valuable teaching moment for me as I watched and heard news about big companies closing down, thousands of employees being laid-off, extreme unemployment rate rising, etc. It was quite alarming but at the same time, it made me so grateful and thankful for being able to keep my job.  However, it is still saddening that even us who still keep our jobs are affected in many ways by the current financial crisis. 

To help myself begin the New Year with a proper info on where my finances actually stand, I once and for all took time to confront every detail of my finances for the whole 2009.  And guess what I found out? … my expenses far exceeds my earning and if I’m not going to plan carefully, I’d drown to personal financial crisis before midyear. So that’s why….  that I should have learned earlier that from the time I started working, I should have been aware that I should be living on a budget, but it was never in my vocabulary before.  And that had it not been due to the kind-heart (yiiiiiihiiiiiii) and generosity of our parents, I’d have gone bankrupt a long time ago.  And for the first time, I caught my mind playing with the notion of financial consciousness… this only means that I’d try to become more conscious on my spending habit from now on… ignorance and neglect of which made me poor in yearend 2008.

Ever heard of the saying, those who do not remember the past are condemned to repeat it?  It is only now that I really pay attention to its connotation.  So before I throw myself to bankruptcy at year end 2009, I have carefully planned my budget and promised (errr… try my very best) to stick to it and try not to spend the way I did in the past.  Because of this, …. tsarraaaan…..a more ‘realistic’ planning is… well… set and to be followed this month.  Plus… I have made some resolutions to serve as guide to financial awareness this 2009.

1.  Conscious spending.  So many items in our expenses list have to be crossed out and well, forget muna, until we finally get over with the cost of diapers and infant milk and vaccinations. Since Iggy-pongpong Ompong was born, almost ¼ of our earnings is alloted to him plus the monthly salary of his nanny which was absent from our 2007 budget.  It had caused major adjustment on our budget.

2.  Impulsive buying is a no-no especially if not on our ‘to buy items’ list.  I’d control myself not to give in to my kids’ wishes i.e. buying toys that they already had before.  Beside the fact that I swear to freeze when they ask for toys, they’d get what they wish for from their groovy grannies anyway without me spending a dime (whooahhha!!!).

3. Pay out some advances from past spendings. It’s peaceful living on what you only have and not having to worry about debts and all.

4. Save!  Save!  Save!  Although it’s going to be harder this year, I’ll try my best to save for the future.  Afterall, there’s nothing different with having more and having less… just the same, we still have the same lifestyle.