Personal Development, Self-Help Tips – What is Success and How to become a Success?
Personal Development, Self-Help Tips – What is Success and How to be a Success?
Often, people will ask me… what is success and how to be a success? How do I create more success in my life? How do I have more success in my life ?
If you have this question as well , then I would like to address and share my thoughts here in my personal development, self-help blog on how you can create the personal success in your life.
First, you have to get and be very clear of what your success is all about for you. For success means different things to everybody depending on their very own perceptions of what success is all about.
Earl Nightingle, one of the pioneer of personal development, self-help area defines.…“Success as the progressive realization of a worthy ideal” 
If you have a goal and you take steps and actions to achieve the goal, then you are already successful. Success is something you become.
You have beliefs about what you think you have access to. But even from there, many people never get specifics of what they want to create next. So, what is it that looks like success to you?. What would your relationship be like, if you were successful in life, what would you create in your money and financial life?
What would you create as the work life, family life, what you do…with your time and talent? What would you create and what would you do, where would you live and where would you go and what would you do to fulfill your life passion and purpose. Read the rest of this entry »
Financial Education Is key to address debt problems
Why Financial Education is key to address debt problems of people overspending?
One of the reasons why people overspends is because they tend to spend on gadgets or “ dooddahs “ to stay trendy mainly due to peer pressure behind those needless buys.
There is a fond saying that I always share :
“ We buy things that we don’t need with money that we don’t have or ill-afford just to impress friends or neighbours that we don’t even like !”
The desire to keep up with the Joneses in our increasingly materialistic society is one of the main reasons why most people tend to overspend. With companies spending big bucks on advertising aimed at promoting high-end lifestyles to influence and create pressure on young people to buy things, just so that they would appear to look “ cool, tendy or glamorous”. Many young adults nowadays are afraid of been seen as falling behind with trends, and they buy things that they don’t need or want, just to conform with their peers.
The result is that, there is peer pressure and people will tend to buy things that they cannot afford just to stay trendy. Many will buy the items more for the image rather than for their functionality. Most young people nowadays associate owing material goods with happiness and this is one of the reason why they do not live within their means. The worst thing for them is that they will buy using their credit cards, using future income, buying things without thinking how they will pay for the amount when the payment is due.
In a recent local survey in Malaysia on young workers financial habits and behaviour, it was reported that 60% of people in the survey were more than 60% in debt, which is a cause for concern.
Get Financial Education at a young age.
Therefore, proper financial education should be made to young people at an early stage of their lives, to address the debt issues and problems.
They need to have the right mindsets, skills, knowledge and attitude to help them manage their personal finances. These people need to be financially educated and take time, energy and resources to learn about money, finances, business and investments. They also need to start thinking about savings for the future.
We must teach financial education early to young children, teach them the value of money and to have a holistic view of life and realize that happiness does not come from material products alone, it comes from having a good relationships with love ones, families and friends doing things that they are passionate about and still be able to live within their means.
I therefore urge you to get Financial Educated. Spend time and energy to learn and be financially educated and invest in your own financial knowledge. It will be the best investments that you will ever make for yourself.
I hope you have enjoyed my sharing. To your success and financial education and abundance. 
By Michael Tay www.michaeltay.com
Why do you need Financial Education ?
Why Do you Need Financial Education ?
Shocking reasons why people overspend and live beyond their means.
“ We overspend ’ was a recent frontpage headline in our local “Star” newspaper and the shocking reasons why most people are living beyond their
Why You need Financial Education?
means.
A good number of Malaysian consumers are being described as shopaholics and having poor management of personal finances. The result of not having proper financial education at an early age of their lives.
An alarming statistic shown, was that on average 41 people are declared bankrupt everyday in Malaysia, mostly due to credit card debts. The reason is the easy availability of credit from financial institutions and their spending habits. Most spenders are spending their future income on liabilities today using their credit cards, without thinking how they can afford to pay off the credit card bills when they fall due. Instead of buying assets they are spending on “doodahs” or liabilities.
And now, with the rising cost of living, these consumers are facing difficult times coping with their spending habits. They find it hard to make ends meet with the high cost of living. Rising inflation without corresponding increase in salaries and income, are forcing people to take loans from financial institutions in the form of credit card loans to cover monthly expenses.
With high lifestyle inflation more prominent in big cities, a small family living in the big city, it will be difficult for the breadwinner to balance the monthly budget with monthly mortgage payments, house rental, motor vehicle instalments and other essential expenses. Because of this, most people find themselves more days left at the end of the money.
All of these reasons lead people to obtain credit cards to keep going until the next pay cheque. It becomes a vicious cycle as low pay and high price of food, transport and other expenses lead people to borrow from legal or illegal money lenders at “crazy high ” rates of interest to maintain a decent lifestyle.
From the statistic, those declared bankrupt are under 40 year old and they do not care about their consequences of their carefree spending lifestyles.
Many are facing financial difficulties too early in their life. The root cause is that most people were not taught financial education when they are young. As I recalled during my childhood days, in primary and secondary education and even high school as well as during University, I was not financially educated on the subject of money, even though we need to use money everyday in our lives. Yes, we were taught subjects like finance or accounting, but we were not taught money skills. How to save, how to earn, grow and keep our money ? These were not taught during my early days in school.
If you don’t have money to pay for the things you want, then someone else have to pay for it. Most people instead of living within their means, they live beyond their means.
Get Proper Financial Education Early
Live within your own means, however is easier said than done in our materialistic physical world that we live in. Financial education and financial planning which is about educating people to spend within their means, is lacking in most people. Majority of people don’t seem to be able to manage their money well and budget their expenses with their monthly incomes. It is not surprising to see people waist deep in debts through foolish spending using their credit cards. The result is that they are declared bankrupt at a very young age. Read the rest of this entry »
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