By now many would have felt the chill from the fast slowing real economy and probably started cutting down unecessary expenses and draft a whole new budget much tighter than before.
The combination of value whitewash in the stockmarkets and job security is a daily worry. Even the central bankers do not know what will happen tomorrow, so what more for the laymen?
Over some round of beers and already counting down towards Christmas my friends and I were planning our annual Kris Kringle - the main highlight was that we have decided to cut down the maximum value of each present, limiting it to $10 this year compared to $15 in the previous year.
It is not so much of the presents but the process of guessing who bought you the present counts, but still money counts anyway. For some of us the 1997 Asian Financial Crisis wasn't a too distant memory. It is still pretty fresh in my head.
Instead of guarding the purse zealously I've gone the other way instead when almost everyone is spelling property as D I R T Y. Due to some pressure I've to commit into this heavy landed transaction but only after some intense negotiation over the titles.
No doubt it will be a big blow to my purse and this is when financial planning really kicks in - draft up a comprehensive budget and stick to it like your life jacket for which failing to do so can cause some real financial pain. And it is really painful......
Oh well, real life economic 101 lesson came abit too early for me. The principle of allocation of scare resources is oiled up and working its gears. In other words I bought the opportunity cost.
But I believe that if the plan is well drawn out and executed then it shouldn't be a problem :-)
The combination of value whitewash in the stockmarkets and job security is a daily worry. Even the central bankers do not know what will happen tomorrow, so what more for the laymen?
Over some round of beers and already counting down towards Christmas my friends and I were planning our annual Kris Kringle - the main highlight was that we have decided to cut down the maximum value of each present, limiting it to $10 this year compared to $15 in the previous year.
It is not so much of the presents but the process of guessing who bought you the present counts, but still money counts anyway. For some of us the 1997 Asian Financial Crisis wasn't a too distant memory. It is still pretty fresh in my head.
Instead of guarding the purse zealously I've gone the other way instead when almost everyone is spelling property as D I R T Y. Due to some pressure I've to commit into this heavy landed transaction but only after some intense negotiation over the titles.
No doubt it will be a big blow to my purse and this is when financial planning really kicks in - draft up a comprehensive budget and stick to it like your life jacket for which failing to do so can cause some real financial pain. And it is really painful......
Oh well, real life economic 101 lesson came abit too early for me. The principle of allocation of scare resources is oiled up and working its gears. In other words I bought the opportunity cost.
But I believe that if the plan is well drawn out and executed then it shouldn't be a problem :-)
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