amidst the stack within the envelope was a certificate-like note, congratulating me on the points that i have accrued for the past year, using their credit card for payment on almost every thing i purchased. i could feel my throat choking for a minute when i read its content. "american express international, inc congratulates wong wern jek for 57,881 points earned since january 2008."
57,881 freaking points! that, which would roughly translate to 92,609 dollars of blithesome expenditure. i had swiped close to a staggering hundred grand in the past year, alone! that amount would have been enough to feed 120 somali children for 8 years. and i thought i had displayed reticence when it came to making purchases. i was wrong.
thankfully, i consoled myself, i had already embarked on a quest of thrift for the year of 2009. wasteful spending would no longer be the ways of the new me, i patted myself on the back. i pulled the bill out and my smile faltered. i was flabbergasted. the letter was jammed with lines after lines of transactions made for the month of january -- i had bought into all the whatnots and shitez and swiped my plastic at every perceivable occasion. the letter was scorching my eyes i wanted to tear my eyeballs out.
singapore telecoms 216.84
the heritage bangkok 75.35
king power tax free 42.49
phuture singapore 105.00
cicada 36.00
marutama ra-men singapore 35.30
topman 147.05
10th div 826.02
klee bar pte ltd singapore 106.00
klee bar pte ltd singapore 34.00
wala wala singapore 44.00
shell yio chu kang singapore 22.75
ck tang - main store 575.00
ck tang - main store 137.00
black chamber singapore 69.90
sole central singapore 199.00
one rochester 38.00
the loof 21.99
revoltage singapore 65.90
the loof 44.00
the loof 44.00
the loof 10.99
swensen's crown prince singapore 69.68
starbucks coffee singapore 10.30
coffee club pte ltd singapore 10.48
spc - bukit merah singapore 37.22
the damage: $3,024.26!!
after taking a breather and an escape from a near-cataclysmic seizure, i decided to make ado about my squandering ways. plastics are good when you run out of cash. but let's face it, the downside is that you never know when to stop.
i had come up with a solution, and a brilliant one it was: stop using credit cards altogether and allot myself a weekly allowance. twenties for weekdays and fifties for weekends. exceptional situations when credit cards can be exercised would be for gas refills or of utmost emergencies. so far, it's been working well for me for the past four days. i'll just have to wait it out to see how long i can sustain...
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53 comments:
o.O you had spent alot man! with that amount, i could travel around the world 4times as well as visit my friends,
allocate yourself pocket money for weekdays and weekends is a good idea though... just you need to strictly control yourself, the first 4days? well, let's see @_<
You should have gone Europe or something instead lol
I shocked by your bill too. For your Jan 09’s bill was $3K. In Singapore, for many families, the total income is less than $3K per month.
I am not trying to stop you for spending. Just hope that before you spend the money, think about whether you WANT it or you NEED it. It may help you to reduce some unnecessary expense.
Glad that you start to control your expense. Your solution is a good. I am trying the same and hope I can make it.
I like to shop and sometime do buy some unnecessary things. Of course, my monthly bill is not too much when compare to your Jan bill. Only half of it.
All the best to u, des. :)
~no name~
Yeah!! Time to save save save!! Times are bad!! I'm also trying to save! Stay @ home more and exercise more! Entertain lesser or find other ways of enjoyment besides drinking or clubbing.
A little goes a long way :)
wow, i could have get a ticket to US,albany with the amount of damage u had done. =)
WA PIANG... your expenditures is 10times my annual income sia... ==||
you are motivating me to work in similar industry as what you currently work in... grrr...
yes...credit card is like a trap, i got that problem too...
Not anymore, know i just a keep 1-2 cards. Unless i hv too if not i'll pay with cash...
Remember CASH IS KING! Then I think you are fine!
Dun be a "KA NU" creditcard slave!
U r RICH,bro!!!No point crying over $ spend, as long as it brought u happiness in the process...but its gd u realise the need to save, jia you!!
des,
can hire me as yr driver, ok?
km
Wow! That's a huge sum!
Well, it's good that you realise how much you spent and try to control your spendings now... Good start and make it sustainable. =)
i'm curious..how much are u earnign?hee
yes, i m curious too of your salary range that enable you to spend 100k in one year!
well, someone could just be living on credit and paying the minimum each time. So, it may not be about earnings at all.
OMG!...I apologise for having contributed to your Jan cc bill...
spend more! spend more! dont stop spending. we need to keep our economy going, especially in such times!
As long as you realise your spending has gone out of control and have taken steps to prevent it from happening, you be fine. For most, dec & jan credit card bills can be a bit over the top due to CNY & year end holidays including mine :-)
Just to add on, you need to use your credit card wisely, Instead of getting a piece of paper congratulatin your achievement in spending money, why not get cash instead.
Get a Citi DIVIDEND Card which gives you 5% cashback on your petrol at any station islandwide and cash back on all your purchases.
Cutting back is tough and to make it work, you need to start slowly. party as you wish but try to stick to happy hour and shop wisely - never buy anything if it is not on sale.
wishing you best of luck and looking forward to your progress. :-)
MM
If u can afford it, y not?
If u dont pamper yourself, who will?
ur bill very interesting for ppe like me, looks like interesting places to have spent tat kind of amt.. wld definitely go those places to see what it is like to have spent tat money.
hope u can shed some light on the following:
klee bar?
black chamber?
10th div?
(fufu) it's almost a week, and i am kinda still sticking to my guns, so yeah, hopefully, it sticks.
(mundane_c) most of my overseas expenditure were spent in taiwan, five times last year. would that be equivalent to a europe already?
(no name) i know my spending has definitely spun out of control big time, so now i am reining it in. hopefully my credit card bill for feb will be less than 1k.
(oceanic) when are we meeting up already? hehe.
(huiying) i wouldn't really call it damage, considering it was quite an uplifting experience making all the purchases. hehe.
(rex) if you're really keen in this industry, by all means call me up to talk about it. insurance is a business which can open up many potential doors for you too.
(noise) i am not "ka nu" because i pay my bills promptly. i noe of those who pay the minimum and the interests just increases exponentially. there was this taiwan tv program by li qing who were talking about it too. watched that much?
(chaos) now that the rainy days are pouring in, i really got to put a stop to such expenditure. and i am glad i have started.
(km) how much are you looking at at being a driver? i don't think i have the means to hire such a high-maintenance one like you, hehe.
(763092) back much?! long time no see.
(anon1 & anon2) let's just say insurance was very good to me during 2007 and 2008. =]
(anon3) well, i don't subscribe to paying the minimum and accrueing the credit to following months. always been paying my bills on time, and will still do so.
(chronoskwok) it's about time you reciprocated!! hee.
(docras) i wouldn't mind looking at you doing some serious spending. meanwhile, i've got to take a breather. let others do the spending.
(mm) thanks for the advice. i actually tried the dividend card, but the returns are much lesser than what i expected. i like amex because of the flyer miles which i could exchange for free flights. anyways, since my i am going diet on credit spending, doubt there's a need to change cards.
(anon4) i couldn't agree more. no one loves yourself more than yourself.
(shopaholic) klee bar is a drinking place at clarke quay, i think.... (can't exactly remember), and the other two are shops at far east.
klee bar is a......... drinking place at PORTSDOWN, YOU STUPID GOAT!
wah...... wat kind of shop is 10th div? i very curious now... to make u spend over $826.02?
must go far east to see...
lol...
NO shopping kakis?
Call me... keke
HAHA, use a pair of scissors to cut that plastic and pay with cash. That's the only way out becuase only when real cash leaves your wallet physically one and after another will you feel the pinch.
des,
u judged me wrongly ya.
am kidda 3D person ya.
3D = decent + dsicreet + debonair.
bro, how to reach u beside here?
km
Baack much much... Haha! So fun using much, much much. LOL! =P
can i ask u a question?
do u depend alot on friends/family when u first started out doing insurance, or did you make it big from your charm ;p ...
cos you are doing VERY well from the credit card bills you are racking up... haha... teach me some skills haha...
-dancer-
(chronoskwok) yes, thanks for the heads up, you stupid snake!!!! hehe.
(shopaholic) that is a shop that sells high end clothes and hoodies and i bought a couple, that's why. >.<
(x-tin) you want to kill me right? i am already on a save-as-you-earn budget and you still want me to shop.
(anon) i would love to, but i can't bear the thought of having my credit card sniped away... it's just so hard. think of jennifer aniston in friends.
(km) haha, that's a good one. you can reach me at facebook. =]
(763092) no more spend spend spend much!!!!
(dancer) well, i guess i could say that i was kinda lucky when i met a couple of friends and referrals who were willing to buy insurance with me. if you're interested, can let me know too. =]
Des, now is the time to spend and not be thrifty. That's a basic point in Macroeconomic Theory. You don't need to draw IS-LM curves to realize that. Haha.
eh. i jus bought mine last year from a friend. He's also quite gd looking ;p.. do people selling insurance do better if they look good ? haha
anyway will let u know should I need another policy sometime down the road :) but i dun think u will want to earn my "small" money considering how much u are earning. lol.
-dancer-
I shudder at the thought that someone would buy insurance from a financially irresponsible person. How can you manage someone's else's money if you can't even manage your own money?!
It is during tough economic times like this that one would be able ot tell the savvy financial advisers from others who just go with the flow when times are good know nuts about finance.
No offence to anonymous above, but i beg to differ...for someone who's capable of spending in 1 year what others will need a few years to earn, yet still surviving well in this period of crisis (without ending in bankruptcy), this at the very least shows something about his $ managing skills..just my tots :)
(lek) lek lek, my dear friend, why don't you start the ball rolling? drinks soon?
(anon1) when you said he's good looking too, means me as well? hehe. thanks thanks!
(anon2) with regards to your tots, here's my two cents. spending extravagantly and way beyond one's means is being financially irresponsible, that, i agree. however, i am spending well within my means and STILL do have provisions for rainy days as such. i pay my credit card bills on time and don't roll-over to the following months, in case that was what you thought.
please don't assume with your foolish initial perceptions without first getting the story straight. i may spend lavishly, but that's because i have worked hard to attain a more handsome salary for myself. i would shudder at having such clients like you as well.
(chaos) you just spoke my mind, thanks. =]
well. you dun find urself gd looking? ;p
-dancer-
You choice of "not ending in bankruptcy" as the yardstick of success and managing money bewilders me. If it is as simple as that, then anyone would be a successful financial adviser.
And thanks but no thanks for your consideration in me as a client. I have the privilege of having a Private Banker (NOT a mere financial adviser) who takes good care of my finances.
You on the other hand, might want to concentrate on your target audience of MRT stations or Daddy/Mummy if that pleases you.
(anonymous) like i said, your vapid brain fails to consider the true meaning of what i or others have said. "not ending in bankruptcy" wasn't written by me in the first place. get your notes right. i believe what chaos was reaching for was trying to say that i don't spend beyond my means.
"mere financial planner".. again. you have displayed your flair for stupidity. it doesn't mean a private banker would be better than a financial planner, JUST because they work in banks. some private bankers were financial planners and vice versa.
To the anonymous above,
Each person has different goals in life, different values, different lifestyle they want to lead and different level of risk tolerance. That is one of the first thing a good financial planner finds out from their client.
If you are changing your lifestyle and goals in life on the advice of your private banker, maybe you should consider getting a mere financial planner instead. Your banker is obviously not a very good one.
To say that someone is financially irresponsible just because he spends more than you, is illogical and presumptuous. The tone of your comment reeks of arrogance.
anonymous poster, you are an arrogant idiot who only think too much of branding. it's like if i were to package a shit with a nice label and marketing, you will buy into it. haha, you are so shallow and stupid leh. private banker so what? you trying to show you very rich ah. many ppl also got private bankers AND financial planners at the same time and they also never brag like you. go away lah.
anonymous poster, go away. this place doesn't welcome haters and spastics like you.
Oh yes, anytime! You're the one who's busy. Haha. Just let me know. :P
dont get me wrong. I dont mean that no one loves u.
I m sure there are many who are waiting in line to love u! hahaha.
My pt, at the rt time and at the place, if u need too, its ok to pamper yourself within your means, once in a while.
i didn't know insurance pays so much...
you sure you have not been printing money on the sly? hehe
Hi, How is the progress of yoour daily n weekly allowance? does it works? :) it's already few weeks now.
I also need to control my spending, and i think allowance is a good way ;)
Must be a high maintenance guy
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