When less is more

Im getting my new home soon and during this period I am constantly filled with choices – choices and questions that constantly nags me and make me ask “Do I need this?” “Can I live without this?”

A world of excess and we need to learn to live with less.

Money can do wonders to a person and a nation. With money Singapore transform from a third world country to a first world country. And they dont just affect a country, they affect religions too. When small churches becomes mega churches, mega churches spend their excess in concert like facilities, etc.  I have no grounds to say what is not right or wrong in how a country spend their money or how churches should spend their money. However, it is my personal belief that less is more, and the way to be rich is to be contented and keep things they way they were.

Rolex, omega, tissot, seiko, casio?

The watch that you are wearing on your wrist right now probably would say alot on your perception of money. When I was in the finance industry, every year when bonus is issued I would notice the change of wrist watches for some of my colleagues. Yes they would grab their bonus and purchase a new rolex, omega, you name it.

The truth is Rolex, Omega, Tissot Seiko Casio have pretty much the same accuracy in fact, quartz watches are far more precise than automatic watches. Why then do we spend 5 digits or even 6 digits on a watch, where something decent would usually cost us less than $100.

Can I afford a Rolex? I definitely could. Do I need a Rolex?  I guess not.

Wants vs Needs

As I have pretty much kept my expenses the same when I was earning $2.5K as a fresh grad. As my incomes grows, my monthly savings has increase quite a bit. I could certainly afford most of my wants if I really wanted them. But at every point of purchase, I would always ask myself :

  1. Is this something that I really need?
  2. Is that an alternative that is cheaper and yet does the same job?

Apple vs android  

Nope, im not going into the apple/android debate on which is better. I seriously think both are good and I really adore apple products and I do own quite a few apple shares. But sadly, Apple products are price at a premium that after going though the above 2 questions, I always end up with a cheap china made android phone that pretty much does 95% of what apple could at 30% of the apple price.

Are there times when I gave in to Apple. Yes – when I was looking for a POS system for my cafe, after searching high and low, apple had the better ecosystem no other platform could offer.

Delaying gratification

Okie I admit, there are some wants in life that you would really want and getting it would make yourself happy even for a short while. In such cases, I would ask myself – could this wait? If it could wait, the money could be put to work somewhere else where the returns are higher.

Wants pretty much is a negative investment. As an investor, I pretty much want investment returns when Im spending on things beyond the 4 digits.