Wednesday, 30 April 2014

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Does cutting expenses and save money mean that you're stingy?

Posted by Unknown at 10:00 am
Here's the deal. You go to work, hanging out with colleagues in the workplace. And right after 1pm your colleagues asked you out for lunch together.

"Let's go to this Japanese restaurant down the road, I feel like eating Ramen" one of them said.

For your info, that Japanese Ramen noodle soup cost RM18.90 (excluding government tax & service charge of 16%).


You told them, nahhh....you'll just 'tapao' (pack) from the food stall nearby the office.

"C'mon you have to eat something nice, don't be so stingy."
*******************

Frugality means, I love to spend my money elsewhere rather than to spend just for a Japanese Ramen. I save up my money for a greater future. If I eat a cheaper lunch meal, I could have save a little bit more for my savings. With extra savings, I could've dump in more for investment. With higher investment returns I am one step ahead to being wealthier. 

Which is why I have been mentioning in my earlier post that we should always record down our expenses, pinpoint any unnecessary expenses. And AVOID it at all times. This is not stingy, this is frugal. 
"Take note of this, frugal people have much better chance to be successful than a stingy people"

Recently, I've read this book by Ramit Sethi, self-proclaimed personal finance advisor. He pointed out the distinctive traits of STINGY vs FRUGAL.


*You can find out more about Ramit Sethi from his website:http://www.iwillteachyoutoberich.com/

 So which one are you? Stingy? Frugal?

If you are neither both that's fine. But PLEASE don't be a mindless money-spender. Its much worst than being stingy. 'Nuff said!

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