1.3 million still haunting you. Don't worry. You actually have more than you think!
To find out, we need to do a 'Where am I now" exercise. This exercise is to determine how much do I actually have right now. Most people who did this soul searching, came out to their surprise finding out that they actually had some money, actually.
By doing this exercise, you are on your first step of planning without realising it. To know how much you have, this weekend sit down, pull out all your records and list down you assets in the category of cash, saving,current and fixed deposit accounts, shares, unit trust, property, business and others. Your liabilities list, i.e. LOAN: property, car, personal, credit cards and any others.
While you are at it doing the consolidation, take your time to reflect that how you may have complicated your life by listening too much to the noise of advertisements and doing what they say. Spend, spend and spend without thinking.
When I do this, I also discover that I keep too many bank accounts which I'm not sure what is it for. Credit cards..., why 5 hah! Mutual fund, unit trust accounts, etc.
Finally, I decided to simplify. Life was meant to be EASY.
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