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Obblogatory

Wednesday
3 December 2008

Personal Description

At the beginning, when I got married, we spent pretty much all our savings on the wedding itself, on some furnishings and on transportation. That was mostly money that came from a ‘hui’, so we had saved for nearly a year to generate that kind of cash. But it was all gone. So we had to start from nothing again. That wasn’t the first time, either. The previous year, we had spent all our cash on a trip to the UK to visit family. Boom! All gone. While it wasn’t easy come, it was certainly easy go…
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Saving First

One of the basic tenets of any investor is that you need to create a capital base on which you can found your investing. Yet how can you do this when there’s never any money left. I have tried this solution and it seems to work quite well.
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Financial Reluctance?

This afternoon, in my fuzziness, I was listening to a woman talking about her financial situation. It was on Fool Radioshow! I was very surprised by her attitude to her finances, in summary, she didn’t like thinking about her finances, didn’t want to invest time thinking about them, and didn’t necessarily see the importance of doing so.

As I reflected on this, I realized there are many people like this. But to me, this digging your head in the sand now seems odd. So many products out in the market place, from credit cards to insurance policies, rely on the fact that we as consumers never want to read the fine print. We’d rather get on with our lives. And yet, within that, we find that we become victims to all kinds of ’scams’, including perfectly legal ones at that.
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A brief encounter

My investing experience started off in September 1998 when I opened my first broker account with what was then DATEK online. I remember I funded it with about $5000 dollars, which was quite a lot of money to me at that point in my life! In total, I funded my account with about over $15,600 since then. Of course, the biggest event that happened during these six years was the dotcom crash, which took with it about $5000 of my hard earned cash! :(
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