It’s Sunday, a day after payday for all Government servants. A friend joked its PAYBILL day... maybe he is right. For a lot of people, immediately after the salary dollars entered their bank accounts, big portion of it will either be withdrawn or blocked by the banks to pay for liabilities such as car loans, credit cards, all sorts of personal loans etc etc. As Bruneians call it, panas pun alum punggung....... the money is gone in no time after waiting for it for over four weeks....
After the monthly ritual of paybill, a lot of people wonder if they have anything left of their hard earned salary to be saved. It is a well known fact, everyone should try to save 10% to 30% of their salary. Do we? Can we? Chances are, many will not. Too much debt to pay, desire not balance with need, consumerism and useless stuff are among the common reasons cited for this. The following tips taken from a website may help us save a bit:
• Pay out/clear all the credit cards or any invoices. Don’t debt. Don’t pay minimum payment, it's just increasing the debt from its interest.
• Minimize the desires/wishes of things. Desire is not the same with need. Sometime, when we think that I need a car, think twice, do we REALLY need a car? Can I drive just a motorcycle to my workplace or just a bicycle?
• STOP spoiling eyes and brain for what we see, we touch. You don’t have to wear luxurious satin gown to the party if you can modify your cotton gown.
• No more than 2 credit/debit cards in wallet. Use it wisely, don’t push the limit.
• Investment, investment, investment. You can apply insurance for keeping your money, of life insurance, or any insurance that fit with your condition. OR.. you can apply for bank deposit which has annual withdrawal, which give us penalty if we withdraw before the time limit.
• CUT OFF 10-30% from salary immediately after we received and save it to your bank account. Make it as "dead account", don’t make withdrawal history from this account unless you really really really need it. Make this account without any card facility, low interest is fine, the important is it's safe.
May be then we can really earned the rich tag Bruneians tend to get overseas especially in this region.
Talking about tags and reputations, at the beginning of the week I was in a modern city state founded by Sang Nila Utama and once was saved from attacks of the swordfish by the genius of a 7 year old boy, Hang Nadim. To the people in this city state, Bruneians are well off rich people. Therefore it is understandable, whenever we are getting any service at any hotels, for the hotel staff especially the bell boys to expect big tip from us. Admittedly some deserve it. For sure all will try to please you 247. To cut a long story short, over the period of five days I was there, I have gone from being called Tuan when I arrived, to Dato, Pengiran and Pehin in the space of just five days. That must be in a world record time! The price? Only $10 of tip ......
I wonder what the bellboy will call me if I stay a day longer .......