Secrets of Non-Millionaires

Spend first, saves later

It’s not uncommon if you hear a lot of people surrounding you especially your colleague start to borrow money or eat less expensive lunch middle of the month. This shows they are almost dry up as all salary has been use to settled major expenses like bills, housing loans, car loans and memberships fees. Non-millionaires normally cultivate the habits of “spend first, save later” principles. They will tell you, I will have money for investment end of this year’s once the bonus is out” but once they got it they will tell you, I got more important thing to settle. So “next year” is common words that you will hear when you ask this group of people to invest especially in unit trust, insurance and property.

Life time credit cards members

Spending is easy. Impulse buying is the perfect criteria to join non-millionaires club. No purchasing list and planning whenever go for shopping is the example of common ways of spending especially educated youngest today. With little help from the bank, they extend their spending capability above their earning potential. Credit cards swap was so easy. You just need a signature to own any product at your choice and convenient. Further support this some banks are providing easy payment scheme to facilitate their customer to own the product faster at “zero” interest package. This give opportunity to a lot of businessman especially IT product to push faster on their product before new product is out. They are so clever in capitalizing banking facility to grab their profit while some customer might took 36 month repayment for their home product like TV, Kitchen equipments, living rooms furniture and etc. Bank praying overnight hoping some of the credit cards holder default payment or paying only the minimum to cover the amount owing. Bank not only earning from interest, thay also earn from late charges, interest rate and penalty fees. These fees might be little to you but bank is talking about numbers games. Bear in mind, they can have few millions customer forgot to make payment every month. So a lot of non-millionaires are major contributing to bank profits. Well done making me richer as I’m also invest in banking stock.

Buying car

Owning luxury car or even local branded car is definitely a good thing to proud about. You can go wherever you want if you have your own car. This is the most common reasons people use when they want to buy a car. Bear in mind, when you can go every way, your spending will continue to go up concurrently with your car journey. That is one of the main character that non-millionaires need badly. Besides allocating extra monthly repayment, you also need to pay other fixed cost like road tax and insurance yearly. You are not only required to allocate some budget for monthly maintenance but also spend money to buy car park for your depreciated asset value in which digging your pocket money further. What a nice big slice of your salary gone if you buy a car.

Expensive holidays

After whole years of hard work and pressure definitely you entitled for a holidays. Today Air Asia has made a lot of people dream come true. Travelling to UK last time from KL might cost RM5k per person for return flight. But today with Air Asia help, you can travel to UK with more than half discounted price. What a cheap price. Some people even worst, since its free ticket, they just book any date and time without thinking whether they need it or not. I also admire this group of people as they can plan their holiday 6-9 month ahead while I don’t even know what happen next month!! Non-millionaires definitely need a lot of holiday to rewards themselves and release from work pressure. So don’t blame them.

Partner with spenders

Is your life time partner fall into non-millionaires club? If he or she having same character likes you then congratulations as you might be the perfect couples. Then I think you might have a lot of argument everyday as each one of will not have enough money to spend. Therefore both of you are capitalizing each other money to fulfill both dream life. And the money is never a enough for both of you, right? Do you want so solve this problem? Simple, every month extra money will be use to fulfill one person dream only base on odd number and even number. Fair right? Continue doing this as this is what non-millionaires required.

Technology followers

Whenever new technology manufactured, businessman will start selling their product at the most premium price as they know the following month their product prices might drop more than 50% which will affect their profit margin. So in general it’s only took 3 month to get cheaper product compare to the day the product launch. But how many of IT followers will wait for 3 month? I believe the number is minimal. As they always say the “glamour” feel is no longer there. So they are much more willing to pay premium price to own it. Imaging when I was a student, to own notebook is almost impossible as its cost me easily not less than RM8000. But today notebook which is more advance technology and more features can cost 80% cheaper compare to last few years. Non-millionaires normally will have the latest and trendy product ranging from clothing, car, watch, computer, hand phone and etc.

In conclusion, non-millionaires club is so easy to enter as majority of people surrounding us are practicing it on daily basis. Some even worst, they are so desperate non-millionaires spender until need to borrow personal loan from legal and illegal financial institution to continue support their spending. Hereby I would like to sincerely say thank you to all of Malaysian who continue to support our economy through strong spending. You are making me richer day by day and without your strong spending I will be not at current club. Happy Investing.

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