Financial Management

Today is the last day of my long holiday (almost two weeks). I'm preparing to go to work for my night shift :( . It will also be the first day that my wife will need to look after our daughter alone. :( . Hope everything will run smoothly.

On the long holiday, we've taken our 2 months+ daughter to various places eg: UTM Skudai, Punggai Beach Resort (near Desaru), Kuala Pilah and Ipoh. Most of them was due to wedding receptions.

After considering several alternatives, we've decided to hire a maid to look after our daughter. It's not cheap. Initial payment is more or less like a downpayment to low/medium cost home. What made it more difficult is that we've just bought a property. Thus, more need of money.

It's on a time like this that I need to do something that I don't really enjoy. Collect money from people who owed me.

I've got several friends who have been regular borrower with me. This is since I've just started working, and then got married and then got a daughter. It's almost will be the same person who will borrow.

Generally, there are two types of borrower:

Case A: Mr. A contacted me saying he need money urgently and promised to pay me back on 20th of the month. On 20th he said he can't pay it due to some problem. I later found out that it's a genuine problem.

Case B: Mr. B contacted me saying he need money urgently and promised to pay me back on 20th of the month. On 20th of the month, there's no word from him. It's only when I contacted him on the 2oth of the following month that he paid me back. On top of that, I've also found out that he just spent lavishly buying present for his girlfriend and bought the latest handphone on the market.

I'm lending money due to my believe that we should help our relatives/friends when they're in need because we'll never know when our time will come. I've got absolutely no problem with Case A. But I'm truly disappointed when I've encountered Case B. For me, that's not urgent case.

I believe that there's no problem if you want to get into debt. But make sure it's a good debt and you make it first priority to pay your debt. Be it a study loan, car loan, housing loan, FAMA (Father and Mother) loan, borrow from friend/relative, etc.

I've already had several bad experience lending money to friends. I've already considered them as bad debt and they've already been in my blacklist. Regarding the person in Case B, he's still not in my blacklist since he had already paid his debt to me.

Under normal circumstances, I'll not really bother about this issue. But this is not normal, I'm in need of money and I don't really like to borrow from others.

I think I should start post something about financial management since I noticed that it's usually the same type of people who are having problem with financial.

Till then, see ya.