My Financial Thoughts

After the government’s announcement of the RM50 service charge to be enforced from next year, I believe that many people have been going to cut up their cards. I am still considering which one to keep since each card I have has a specific feature I like.

Yesterday, Hong Leong came to the rescue by launching the Hong Leong Essential Credit Card. I think it is called Essential because this card gives you all the great offers on features which are important to the customers, well, for me at least.

Among the benefits are:

• 1% unlimited cash back
• 1% p.a. balance transfer
• 2% cash advance fee
• 1% p.a. flexi payment plan
• 10.8% p.a. interest on cash advance
• Conditional free-for-life

However, the ad which we see in the newspaper had a host of T&Cs which can be confusing. And so, I called them up and this is a summary of what some of the terms are:

• 1% unlimited cash back, 2% cash advance fee and 10.8% p.a. interest on cash advance is for the entire duration that you hold the card.
• 1% p.a. balance transfer is only a one-time offer, applicable within the first 30 days from the date of account opening.
• 1% p.a. flexi payment plan offer is until March 31, 2010. After that this offer does not hold.
• Conditional free-for-life basically means you have to swipe 24 times a year or RM8,000 spend a year.

I think that in summary this is a great card for me since the feature that is most important to me is the cash back benefit. At the moment, most of the cards in the market has a cap imposed on it and this unlimited feature is really good.

The lady at Hong Leong also told me that I can convert all my 3 Hong Leong credit cards into this one, but the only pain is that I have to do it at the branch.

So what do you think? Will you switch your cards to this one?

My answer to my previous post on whether I want to be rich is a resounding YES! In order to achieve that, I have to change the way I think.

In comes Wealth File #4 – How the rich think.

Rich people think big, poor people think small.

This wealth file states that you will be paid in proportion to your value which you deliver to the marketplace.

What this basically says is that if you want to make more money, you have to breakout and start thinking about bigger things and making more impact on other people’s lives. It is not just about ourselves anymore.

And I learnt that the true definition of an entrepreneur is “A person who solves problems for people at a profit”. Wow, isn’t that a great definition? Would you not like to have this work carried out? I was told that if we think big and help the lives of hundreds and thousands of people, our income levels will be significantly different than if we help 10 people, or if we just want to help ourselves and nobody else.

I used to think that the reason why so many rich people have charities to their name is because they are rich and can afford it. Now, I am thinking their money blueprint is probably so big that this is their way of making an impact to people’s lives and in doing so, making more money!

Now I have to constantly remind myself that small thinking and small actions lead to being broke and unfulfilled. Big thinking and big actions lead to having money and meaning.

And so, how would you like to think? Big? Great! Let’s start leading today instead of needing and let’s start sharing instead of hoarding our gifts.

As a follow up to Wealth File #2, this post talks about how committed you are to becoming rich.

The rich people are committed to being rich while the poor want to be rich.

This wealth file made me realised that my wanting to rich all this while is exactly why I am not today. I merely want it, not really committed to it. The difference?

While I want to be rich, I still have all these questions in my mind. What if I cannot make it? What if I make it and then lose it all? When I am rich, will I be subjecting myself to con men, kidnappers, etc.? Will people come knocking on my door asking for money? How hard do I have to work? Is it all worth it? etc.

And because I think like this, the Law of Attraction will be very confused because while I say I want to be rich, I also send all these mixed signals on the effects and the fear in me. And so, I am not rich – YET!

On the other hand, the rich do not have these questions. They commit to being rich and so, will do anything legal to obtain their riches. And according to the Law of Intention, this is exactly what they will get!

No questions, no ifs, no doubts, no buts, no excuses, no fear, just 100% of everything you have got to achieving wealth. This means being willing to do whatever it takes for as long as it takes. This also means that there is no limits set on the things that needs to be done nor the effort that needs to be put in.

So dear readers, I will from today on, COMMIT to being rich. I will cast all fears, doubts and questions aside. As the warrior will say “I will be rich, or I will die trying”.

What about you? Do you want to be rich or do you commit to being rich?

In my previous post, I wrote about what the rich and the poor thinks life is to them.

Here, the second wealth file has to do with how the 2 groups of people play the money game.

The rich play the money game to win while the poor play the money game to not lose.

Wow, what a difference in thinking right? Apparently, the rich play the money game to accumulate massive wealth and abundance whereas the poor play the money game to have just enough to pay the bills, or to be comfortable.

It is mentioned that if we play the game just to get by or to be comfortable, chances are, that is exactly where we will be – just enough or comfortable. It is because of how we think, and therefore, that is how we will act.

However, if we are going all out to create abundance and riches, chances are, we will be able to at least attain very comfortable lifestyle! You get what you truly intend to.

When I first started out working, I used to think that I was young and only needed money for the bills and rent I have to pay … and that is really what I got. And then I grew older and then I wanted to have a more comfortable lifestyle, meaning I do not have to think and re-think each time I buy something or eat somewhere … and that is what I have. But I had to be mindful of the prices I pay, else it would be uncomfortable that month!

Now that I know why I only get what I want, I am now changing my mindset. I want riches and abundance, I want to play the money game as how the rich plays it – to win.

And to begin the process of resetting the mindset, I have thought my kids this mantra – Aim high, touch the sky!

What about you? How are you playing the money game?

In my previous post about a person’s money blueprint, I had mentioned that I would be sharing the 17 wealth principles which separates the rich from the poor.

The first one has to do with what the rich believe in.

The rich believe that “I create my life” while the poor believe “Life happens to me”.

According to T. Harv Eker in his book Secrets of the Millionaire Mind, the rich believes that they make their life and they will go to great lengths to take charge and control their life.

However, the poor will resign to life and not take responsibility in all that is happening to them. Istead, the poor will blame, justify and complain about everything except themselves.

I will not go into the details of these 3 characteristics but one thing which caught me was that when we justify by saying “Money is not important”, this act actually chases away money since we already said that it is not important to us!

And by complaining about our life, we are actually answering to the Law of Attraction which states that “like attracts like”. And so, when we focus on the bad and complain, we are actually attracting crap into our lives and thereby becoming a crap magnet!

Holy crap! I surely do not want to be a crap magnet nor do I want to have money running away from me!  And so, I will take steps to ensure that I will from this day on, believe like the rich – I create my life! and as such, take responsibility and steps to ensure my dreams turn into reality.

What do you think? Do you agree with this wealth principle?