Welcome to Woman Leadership show. I'm Janet Aisyah and in this episode, I will be sharing with you on Plan to fail when you fail to plan.
Show Notes
- I have a friend whom I know more than 10 years. I have shared with him about the books , blogs that I read on financial management and knowledge. He would tell me that he has no money to save as he was working freelance and not full-time job for many years.
- Last year, he found a full-time job and after his 2nd child was 2 years old. He shared with me that he wanted to learn from me save and invest in property. I shared with him about managing expenses. I did share with him if he really needs to stay in condo since they were so comfortable in their 4 room HDB. He felt is too small for 4 of them. Few months later, he shared with me he is upgrading to a condo and spending almost 6 figure on renovation. He was not aware of some of the cash that he had to fork out upfront and he had to borrow money to pay the 5% cash. Shortly, he quit his job as he was unhappy with the changes in the company and so he is jobless during the move of house and global crisis where increasing unemployment is happening.
- He shared that he has not much savings and even commented that at least I
Financial reserves and property backup. However, he forgot this is through my discipline in managing money and planning. I did not spend when I cannot afford and not stretching myself unnecessarily and have additional stress of over-commit.
Key Takeaways
- It is important to plan our finances well so we are not caught off guard with situations like this and need to buffer for at least 1- 2 years reserve.
- I learned from others that in order to achieve the financial goal, one has to be disciplined and be consistent in saving and investing.
- We can track if we do not have a spreadsheet and looking at the numbers and reviewing it regularly. When you track then you can know your financial status. Do keep a spreadsheet and keep stock of our financial status, do detailed calculation and ensure that we have enough reserves before we make major decision.
- I hope that through my sharing, it draws inspiration and personal reflection for you. I believe every woman can be a leader in your own way. Connect with me through Facebook, Instagram and Linkedin. My links will be in the show notes https://shor.by/leaderonline
- I look forward to seeing you in my next episode where I will be sharing with you tips and ways to realize your full potential as a leader on Woman Leadership.
What is Woman Leadership With Janet Quek?
This is the Woman Leadership show.
Hi, I'm Janet Quek . For the past 20 years, I have been helping individuals to realise their leadership potential.
In recent years, I have trained, coached and engaged leaders across the Asia Pacific Region to build high-performance teams and improve individual engagement and motivation.
In this podcast, I will share tips and ways to realise your full potential and be a leader in your own way.
Join me on this journey to discover them.