the power of M

Life’s paradoxical. Despite all the measures which the government are implementing to aid the financially weaker citizens, a recent report also shows that there has been a jump in the number of people splurging on branded goods.

With the perpetual increase in prices of commodities, I concur to what our FC commented during meeting yesterday: life will get tougher for an indefinite period. The economy will take a while to pick up and it’ll call for everyone to tighten their belts.

It was forecasted that the inflation rate in Singapore might rise to a high of 8% from the existing 7.5%. In my personal view of things, the impact of the inflation increase would be multi-fold. I draw reference on how the prices of food have rose with the past 6 months – a bowl of noodles used to cost $2.50 is now $3.00. That denotes a 20% increase.

The trend we are seeing is disturbing and for most of my colleagues and I who do not fall in the higher income bracket, it’s corroding our savings slowly but surely.

Even as I plan towards our simple, d-i-y and cost-saving wedding in Nov, I’ve experienced the scrooge in me restraining myself from splurging on unnecessary items. Call me cheapo if you must..and all the “aiyo, like that also must save?” phrases. Yes, like that I also want to save, because I feel the burden of saving our dollars and cents, significantly on my shoulders. Dearie and I share the responsibility to ensure we stay financially autonomous. Apart from the house and car loans, we don’t want to be bogged down by any other loans. Paying interest alone will kill us, especially with the depreciation of money value in light of inflation.

Once again, I toy with the idea of taking up a part time job. If I do not get to study, I will embark on part time over the weekends as well as some of the weekday evenings. I’ve been flipping through the papers to find something suitable. Clinic assistant? Retail? Tutoring? Wash cars? 7-11? Pump attendant?

If I do not get an additional part time job, my other option is to change job to one which will pay me better.

The rigour of life impels us to uncover ways to survive; just like hunger drives us to find food.