When you are not working and not earning, you quickly realised that every cent you have once spent will not be replaced by fresh funds or earnings. Your reserve is finite.
Money is not so “free” after all and what we are used to spending without a second thought is a thing of the past. You now think you better not have the $1 soya bean drink with pearls when you can have teh-o for 60 cents. Hawker food at $2.50 is acceptable and anything else above $3 will only be eaten occasionally. Designer breads are avoided and breads from local bakery shops are better value for money.
In the past, I used to pay for things purchased without thinking about the cost of each item. Now, I take a keen interest and now ask how much it costs and think about how expensive an item is.
Drawing cash from ATM used to be a “mechanical process”. Now I tried not to go to the ATM.
One sure way to reduce spending is to stop using your credit card for purchases. If you use cash to pay, you will know how painful it is to buy things especially discretionary items. You will need to go the ATM more often!
I have not been to shopping centres as often as before, including the newly opened Vivo City. There are temptations all round and you may buy things that you may not need at all. I do not need the retail therapy, a good read at home will do. The recent newspaper article on retail sales growing at 4.4% when the economy was growing at 7.7% in 2006 mentioned the puzzling phenomena. I am one contributing factor.
All these are not negatives for me. I see positives because I learned to spend wisely and treasure every dollar.
Written on 1/31/2007 9:55 AM
Copyright © 2007, the author known as LKT in Singapore.