Money

According to Sophie Kinsella, Financial Journalist, Author "Confessions of a Shopoholic", there are 2 ways to improve your financial situation:

1) Cut Back
2) Make More Money

Since the second alternative isn't available to me now (I turned down an offer to work at my uncle's law firm because i cannot for the heck of it picture myself doing legal research binders during the holidays), it only means i only have the 1st option available.

Today i made the trip to UOB, and got myself a Campus Account. This is because i find it absurd to be PAYING DBS $2 every month to save my money in (I should be getting interest, damnit!). The Campus account requires no minimum balance of $500 which is good news for me, since i do not get allowances during the holidays because of my parents' warped mentality that i do not need $ during this period. Its good cos i do need the convenience of an account, NETS/debit services, without a passbook that my mom has this nasty habit of snooping in order to determine my allowance. (Yes, i live in the dark ages where saving is fiercely forbidden) This account nonetheless comes with a checkbook, which i have no idea how to use, if not for my Biz Admin friends who kindly explained to me :P ah well. I'm not usually mercanary. this is VERY circumstantial. My hand was forced.

Anyway it set me thinking, and i went online to do research:

--Credit Cards--

Scoured all the banks, compared the perks and interest rates and designs etc of each card offered. Man, i would really like to own eithe the Manhattan card (for card design and low interest), the DBS black card (for perks), Citibank Clear Card (for clubbing benefits) or the American Express Krisflyer card (for free flights. My first love: travel).

--Insurance--

Gotta get them soon, im not covered. I'm quite paranoid about having my life's savings wiped out in hospital/medical bills. Important important. I'm not covered :-\ *mental note to self*

--Home Loans--

Because my parents are starting to clamp down on me so hard its hard to breathe anymore ("who says u have to go out everyday just because its the holidays?" <-- Look what i have to face every nite), i need to move out to get my space. Maybe somewhere near the city, in a sleek condo near the MRT cos i cant be botehred to drive to work everyday. A bachelor's pad (eg Studio apartment) shouldnt cost that much right? Wrong. A loan of $500,000 spread out over 30 years using the lowest available rate works out to $2,300 a MONTH, which..... is essentially 80% of my starting salary? Argh. Now i understand why everyone stays in HDB. they bloody have to. who can pay such mortgages a month? Not a fresh grad definitely. And u have to be 35 and older if u are single and want a HDB flat. wtf. HDB aint the most swinging bachelor's pad around.

--CPF--

I never like anything thats mandatory and shrinks my monthly disposable income.

--Income tax--

Fark. More shit.

--Investments--

Wont be doing this for quite awhile. I mean, its nice to live in your little bubble thinking u are a lawyer with a huge dispoasble income to burn on the stock markets, shares and bonds, foreign currency markets and the like. WRONG. All the money goes to paying for the abovementioned shit, as well as meals to non law friends who will think u are damn loaded, as well as to feed my weekly partying habits... I mean, to really enjoy yourself in Zouk ( aka Drinks) u need alot of money, and i will need to buy those blasted Armarni shirts, Zegna ties, or Boss suits for work, i mean, its hard to diversify since u are constrained to Black and White, might as well wear the best.

Wow. I can really forsee my financial ruin before the age of 30 man...
(Compare this with Lionel who wants to earn his first million before the age of 30, this James just wants to make ends meet)