Contributed by Citibank

I know very little about Citibank. I am sure some of you know more, much more about Citibank situation. I no need to detail about it.

In Nation Newspaper in Bangkok, December 16th 2008, here they give us "Seven Most Common Mistakes We Make With Our Finances"! Let's see...

1. Living beyond your means: We are all"wanting to live a better life". But are you trying to live "that kind of life" with income that cannot sustain that lifestyle and ending up spending more than your monthly pay cheque?

2. Not saving enough: You've heard the expression "it's not what you make that matters, its what you keep." Saving monthly is the fundamental habit for which all of us need to discipline ourselves.

3. Being Materialistic: Don't try to keep up with your celeb friends. Be frugal; don't over spend.

4. Not knowing what you want: People don't know what they want and then they end up wanting everything they see.

5. Failing to pay off debts: Interest from debt never sleeps: it doesn't take days off or holiday.

6. Not having a plan: One of our most common mistakes is not having financial plan, not following up on the plan and not implementing the plan.

7. Procrastinating: Time doesn't stand still. The best time to start a budget is now. The best time to save for retirement is now.


Helen said: I wish next time they give us "Guru Speak, Seven Most Common Mistakes The Housewife Make With Family Finances"....Before they speak, first here is my speak..

1. Dying beyond your hair needs: I realized that dying the hair is not cheap at all. I am getting some white hair (I feel sorry for some who starting their white hair in very young age), and now I know (for me), it cast 390 Bath for to get a good dye and the labor is another 500 baht so it cost 890 bath per dye. Some paid for 3000 to 4500 bath if you do more like highlight or this and that.....

2. Buying beyond your feet need: My case, I love shoes. I wish the shoes company to stop making those cutie shoes. I admitted that some time my happy money spent on shoes most of it. See I do not care my hair that much but a good shoes cost 80 to 200 US$.

3. Having beyond your tea time with friends: Tea party at home is OK. The tea party at Emporium first floor cost way expensive. I do not care that much because I like my friends. I learn that Dutch System is the best to have tea with friends.

4. Trying beyond your look:Every one has own beauty. Mostly will last is inner beauty. Clothes, yes... everyone has their own style. I have friends only goes for expensive clothes. Fendi, Channel ...ta ta ta will cost around 45000 Baht in Bangkok. If you goes for designer clothes think twice. I like them but not crazy about it. I think more depend on who wear then what you wear??

5. Having beyond plastic surgery:Nowadays women go for plastic surgery, a lot. One day I might do it too. If you have money OK but do not go there for to please men.

6. Collecting beyond need: Jewellery is one of the reasons that housewife crying for. Somehow I do not care much about expensive jewellery. I like more trendy style with semi precious colour stone.

7. Listening beyond your understanding: Here do not take so much advises from many people. Your life you leads it. I just do not wants finances advise from others so much because I know my situation. Robins is actually very good at finance. He fall in very much of about Citibank's adivise. Just fit in there.

Have a good finances plan in 2009!

NOTE: Do not take my speak seriously please!