Saturday 10 February 2018

My 3C Money/ Investing Philosophy

  Posted at  February 10, 2018 4 comments
Just went down to DBS Vickers at MCBC tower 3 yesterday to sort out my application for a CDP (Central Depository) account. In Singapore if we want to buy/sell stocks, we need a Brokerage (banks/platforms) and a CDP account under SGX for settlement of the trades we make.

I'm now probably one week away before I can start trading. Honestly, I am pretty excited about what lies ahead at this point of time. I have been monitoring certain counters that I already have in mind.

Using DBS Vickers, Because I created a Multiplier account for it and
intend to use it to get a higher interest on my bank account.
The average Singaporean male starts working around age 25, set back by 2 years in the army and another 4 years in University or tertiary education. Many of us graduate with a student loan.

Aiyo. Haven't even start working already owe people money.

Growing up, my Dad imparted me alot of good traditional Chinese moral values:
1. Even though we are poor, we shall never steal, rob or cheat.
2. Never save money on food even though you are poor.
3. Be hardworking. Most successes in life are a result of hardwork than talent.
4. Being independent: never rely on others for money because you ask once for help you will owe them a favor forever.

So, although I relied on these values to get me to where I am, for a while I was still living paycheck to paycheck. This was until just over a year ago. I tend to spend more than what I could earn on some months.

Today, I have finally fixed it (to some extent) and I recognise that I am a work in progress. My current money philosophy is based on 3Cs:

1. COST:
More than often, I tend to spend too much on things that don't matter. I have also bought things that I absolutely have never used more than 10 times. All these have an opportunity cost. This is the sole reason why I am only able to start investing at 30 years old, when I could have done it 5 years ago if only I had thought about the opportunity cost.

Basically, we all have limited resources, unlimited wants. With each error we make in terms of money, we lose an opportunity where it could have gone to better use.

When buying anything, I rely on the 3 day delay now: "Do I really want to buy this? Do I need this?" And usually after waiting 3 days before a buying decision, I am able to distinguish what I need/want.

I, too have my fair share of bad habits. For a while, I drank Starbucks almost everyday (approx $8 a day about $200 a month, $2,400 a year.) I too, use Grab and Uber far too often and while I am now able to control them, I have my lazy days where I just give in to laziness.

Cashflow is all about maintaining a positive cashflow, and just balancing the books is not enough because that leaves us with nothing to invest. So, SAVE, SAVE, SAVE!

My goal for this year would be to set aside an amount I want to invest each month so as to force myself not to overspend but diligently buying assets that would generate income instead of wasting money.
Taking care of the golden goose that lays eggs means taking care of my body, and investing in myself so that this golden goose can lay more eggs.

I never understood how taking care of health was so important until I worked shift work for about 2 years and during which I almost wrecked my health in exchange for the money. Totally not worth it because you show up late for work, you are always sick, therefore you can't perform to 100% where employers always demand a 120%.

I have since learnt that it is far more important to take care of our own health and also to constantly keep in touch with what our working industry or field of practice is doing.

I do hope that my 3Cs will serve me well for many years to come. And I ask for wisdom and discipline to stick to them.

Till next time,


  1. Keep it up! You are doing great!

    1. wah. Thanks! I can't believe I only saw this now sia. haha where's the notifications settings...

  2. Hi KC, its great coming across your blog. We are in a similar situation and when I read about what your father taught you on "Being independent: never rely on others for money because you ask once for help you will owe them a favor forever.", it reminded me of a certain situation in my life. I do not agree on the way the person live his or her life, but they have their own views.

    I am also slowly inching my way to financial independence and it is still a long way to go.

    All the best and I will keep coming back for more updates! Keep writing!

    1. Hi Magpie,

      Thanks for your words of encouragement! I hope that it gives you some inspiration and drive to go for greater successes in life. Let's go for it!

      Indeed, why my Dad said "never borrow" was because my grandma had eye cataracts years ago and my Dad was struggling to make ends meet while raising a family. I heard from my mum that my Dad merely borrowed a $500 to see out grandma's cataracts operation. But this $500 became a forever thing for people to say, especially the aunt he borrowed money from. Even though he repaid the money faithfully and on time, it got real annoying about how we always seem to owe this person something.

      Indeed, we can't control what others do, but we will be in a better position not to put ourselves at the mercy of others.



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