I dropped out of college at age of 19 in hopes that I would make a better living by working rather than earning my Diploma. I started working as a direct selling agent doing sales for an illegal Forex company (not knowing it was illegal at that time) where I had no basic pay. I would earn RM1,200 for every RM10,000 I secure, unfortunately, I did not manage to hit the target set and I left the job.
When I finally got a legal job, my basic pay was just RM1,000 & after deducting EPF, I was left with RM880 a month. I decided to rent a room that cost me around RM170 a month to be closer to my workplace. I took over my brother’s Perodua Kelisa & it cost me an additional RM360 a month. In total, my fixed expenses back then were RM530. Once I added my petrol expenses & food, I was basically left with nothing.
Thinking of that journey on how I started to where I am 15 years later, my life has changed so much. I have made many mistakes in the past & made the decision that shaped me to be who I am today but along the way, I am able to learn & I am blessed to be surrounded by so many special people in my life. Some may think that I am blessed with a silver spoon but my childhood was rough & it motivated me & my siblings to work so hard to be who we are today. As of now, we are all having a career of our own & although the paths are different, we are all living quite comfortable lives.
My journey back then was rough, with that limited amount of money that I had, I sometimes resorted to borrowing money from my mum but that was also due to my mismanagement of spending. If I were to go back to give my 19 years old financial advice, this will be my advice to my younger self.
1. Save Before You Spend
Whether I was making RM1,000 or lesser or having a different fixed commitment, I should be focusing on saving before I spend. It can be RM50 or even lesser. As long as I start this habit, it will shape into a good habit in the future.
2. Don’t Spend Unnecessarily
It is a bad habit that many of us have including me. Back then, I would just buy a particular item because it was cool but it was not what I need.
3. Start Reading Books On Personal Finance & Investment
I hate reading since I was young. I started reading when I decided to explore ways to get out of my debts & ways to make more money. Rather than seeking help during desperate moments, I should pick up this habit way earlier to educate myself on personal finance & investment.
4. Start Investing Early
I know it sounds ridiculous to ask my 19-year-old self to start investing especially during those times when investing is not that cheap. But I believe with proper planning, I am able to accumulate my savings and invest.
5. When I Start To Invest, Never Sell Any Of My Investments
It is a reminder to myself that when I start to invest, I should never sell it unless it is used to invest in businesses or buying a house. The mistakes that I made back then was, I sold my mutual funds investment to fund my Phuket trip. Wonder what I was thinking at that time.
6. Don’t Change My Car Yet
The funniest upgrade that I made was to upgrade my Perodua Kelisa to Naza Suria. If I were to continue to pay for that Kelisa, maybe I would just have to pay for additional 3 years but somehow I decided to buy a new car & pay for 9 years. Last year, I had a chat with my customer & I was telling her about me selling my Naza Suria for RM800 & she told me she sold her Kelisa for RM7,000. I should have just kept that Kelisa.
Conclusion:
Since I started to work, I have been hustling to find ways to make more money. I made many mistakes along the way but it has made me a better person & learn from all my mistakes. I have no regrets about the path I chose & I will only keep hustling until I achieve my life goals. Learning is a part of living in this world & I am sure that many of you have many different lessons that you learnt along the way.
OSS!
You can also check out my latest YouTube Videos on How To Invest In Gold In Malaysia:
