I have been a full-time housewife for a while now. While most would assume that I’m living it up, I’m actually gaining knowledge on personal finance and investment. Of course, I still find the time to do a lot of leisure things that I wouldn’t be able to do previously.
During the day, I read finance blog articles and one caught my eye — How Do You Find the Time to Learn Investing. Everybody says the same thing whether they are keen or not in learning about investing, they simply have no time to start. The author of the article argues that it’s not about time management but how we harness our energy.
That’s a possibly theory, but I really think it’s about how much you want to get your butt down to things. Trust me, I had zilch knowledge when I started and to make things worse, I was somewhat “forced” to learn about it. My only idea of money then was: the more the better because that means I can buy more stuff that I like. Of course, the husband would not take no for an answer to learning about personal finance and investment. It was either you learn and start making yourself useful or you jolly well go out to work. So one of the goals of investing simply became to earn enough through investments to justify why I’m not working. It may sound rather silly to set such a goal, but I guess that gave me a push and a little reason to start learning.
The ride hasn’t been easy at all. As we all know, we tend to drag our feet on tasks that we simply have no interest in. Till this day, even after I’ve already levelled up a little on my investment knowledge, I still drag my feet sometimes to read those printed investment articles or find the answers to investment-related questions the husband has. The temptation to do a million other leisure things is just too great compared to reading up on asset allocation or how to hedge currency risk when buying foreign ETFs.
But there are times when I find the energy to search for answers to things I don’t know. Like how I borrowed a book by Adam Khoo on stocks from the library and made it a point to actually read all of it. By the way, that really helped me understand a lot more about investing in stocks. Or how about when I had a debate with my friend on bonds and endowment plans? I had no idea what an endowment plan was and I actually researched on it. To be quite honest, my recent meeting with an insurance agent who was trying to sell me an endowment plan spurred me even further.
There’s still a lot I don’t know, but that just means I got to keep learning. There’s really no easy way out if you want to learn about personal finance and investment. Even when you start investing, you simply cannot have the naive thinking that you’ll make big bucks overnight. It takes time, effort and perhaps a few mistakes along the way. But isn’t that the same for learning any other thing?
So, to my friends who have showed a little interest in the subject, please ditch your “I don’t have time” or “I don’t know where to begin” excuses. I am the proof you need to tell you that it’s doable. If you really want to begin but need a little guidance, I am more than happy to point you to a few resources for beginners, but the rest is up to you.
And to those who say they have no money and cannot be bothered with personal finance, good luck to your future. If you don’t want to begin to change things, nobody can help you. But be warned that we live in a world where reality is harsh. If you don’t already know, the rate of inflation is higher than the bank’s rate of interest for your money in your savings account. I’m not saying that you must do what I do, after all, our financial backgrounds are all different. What I’m saying is that you need to begin saving and planning for your future. If you find yourself chronically in debt or living paycheck to paycheck, examine what has gone wrong in your planning and make the necessary adjustments to make sure your savings are actually growing and not dwindling.