Nobody learns from mistakes

In the past, I reckon that it’s beneficial to learn from own’s mistakes or others’ mistakes.

Now, I realize this advice is useless as we never learn from mistakes. First, we refuse to acknowledge our mistakes. Second, we don’t face the same problem twice and third, we never encounter the same problems as others in the same context. Lastly, we often forget about our past mistakes too!

The key to be better is to avoid making mistakes in the first place! When face with a new problem or challenge, it’s better to pause, think deep, think far and fast before taking the next step.   

Forgive and forget

 

In the past, I had made lots of mistakes.

As a kid, I was caned at home.  

As a pupil, I was taken to see the disciplinary master in school.

As a soldier, I was punished to do “extra duties” over weekends with no book-out from camp.

Now at work, I try not to make any mistake or quickly correct them before anyone knows about it. For unavoidable errors, I just pat my shoulder and forgive myself. This self-help mental wellness technique is quite useful. It’s called: Forgive and Forget. 😊  

Learning the hard way

 

In the past, I buy what I want. Now I buy what I need.

Before, I like to buy and keep stuff thinking their values would appreciate one day and I would be rich.

Now, I have to sell, give away and throw stuff because they have either gone bad or depreciated in value. Sigh!

The most regrettable buys were those unit trusts and investment funds that had gotten my fingers burnt.  Now I stop believing in these instruments.

Lessons learned: 

1-Past performance does not guarantee future returns. 

2-Sellers just want to make your money, not help you make money!

3-If these investments are so good to be true, they would have sold out long time ago before the public know it.

Money Always Enough?

 

Some years ago, one retiree friend told me he had stopped working to enjoy life.

He said his savings and passive incomes were enough to last him a lifetime as he had budgeted to spend no more than S$50/day. 

Now with inflation and cost of living breaking records  here, perhaps this amount is no longer enough for basic living expenses. If still is, kudos to him 😊. 

ST Editor Tan Ooi Boon’s latest book: Always Have Enough Money-Not everyone can become rich. But everyone certainly can try to avoid being poor.  

No need to buy this book ($29). Its content can be summarized into one statement: Income must be more than expenses. So that you can contribute to CPF.  Ignorance and wrong decisions mean you would lose money or your expenses always exceed your incomes. This means your retirement years will be “jia-lut” (worse-off).  

Desperate time desperate measures

 

Desperate times desperate measures! This is often said in movies. With the rapid uncontrollable rising cost of living here, many have to change their lifestyles to reduce expenses. I’m also forced to adapt ☹:

No more liquor and wine. Now it’s mainly sparkling water or root-beer. No more big fish (大鱼) for meals, only ikan-bilis with soy-source on white rice. No more big meat ( 大肉) for feasts, only small portion of minced meat with plain noodle and soy-source. No more ‘jio’ friends for coffee and snacks, only share food pics via Whatsapp to make others drool! No more oversea holidays, can only hangout at local coffeeshops for teh-O-kosong. No more sport day of the week, only run or jog for free now.