“There is no delight in owning anything unshared.”

His Name is Azizi Ali

Azizi Ali with his books Millionaires are from a different PLANET!.

Personally i do think this is a very good books and message to the younger generation because this is an excellent reality check in finance. There must be a reason why is over 100,000 copies sold!!.

~~Reading helps your seed of knowledge grow~~

Well, i would love to share some of a very true statement pointed out from this book. In Chapter one itself: It started with ” A rich man is one who isn’t afraid to ask the salesman to show him something cheaper.”

Large income does not equal wealth

But make no mistakes, Malaysians make a lot of money. Many folks have a monthly income of thousands of rinngit. Some earn even much higher than that, running into ten of thousands. Yet, despite the big money, they are no better off than guys who make a few hundred ringgit a month. They have crippling mortgages, car loans stretching nine years and credit card bills that never seem to end. At the end of the month-sometimes even earlier- they are just as broke as everybody else.  – Azizi Ali

We spend too much money

The fact shown us that a great number of us are not saving enough money. In fact, some are not able to save at all. Saving money has become a massive problem for a lot of people. In this material world, spending is become so natural and in fact, not to spend money now becomes a problem and a real predicament. Surprisingly, many do not know that they are overspending or even why. Something is not right when we can never make ends meet. Remembered, falling into financial pit might lasts for a lifetime and might be no way out of the mess at all. Some of the reason why we spend too much might due to:

-The power of Advertising (convincing people that enough is never enough)

-Too easy to obtain credit

-Spending is fun (the source of some excitement)

-Living on the edge of technology(simply must be the forerunner)

Manage your debt

Though the ideal existence is to live debt-free, perhaps it is impossible asking people to stay away from debt all their lives. particularly, accumulation years of between 25 to 40, we will make some big money purchases. But as long as we remember to borrow money only for appreciating assets and within our means, we would be on the right track. After all, the idea is to manage your debt, not to avoid them totally. Managing debts means

-Borrowing money only for appreciating assets

-Borrow only up to a sane manageable level

-Paying back all your debts and most important of all

-Avoiding all bad debts

Well, the best way to live is not to owe anyone anything. Debt free living is so tranquil that once you have experienced it, you would not want to live any other way. You are not worried about interest rate hikes or what the banks might conjure up their sleeves.

~~If you are interested with his financial ideal, get one of his books and start reading~~ 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s