Define Your Basis

What we know about our basis? Why exactly we need the basis? In whatever scenario when comes to execution then we must have very clear basis so that we know what are we doing instead of what others know what we’re doing.

People always want to be rich and super rich. Very little people want to be not-poor because they don’t have clear basis in their financial goal. It’s good to be rich or super rich but it is essential to be not-poor so that no body hurt either physically or emotionally.

To be rich we must define our basis or step-by-step way forward to be rich or at least to reach financial freedom. In order to reach that, we must develop our basis to be followed along the way. How can we achieve this if we don’t have saving to start investment. How to get start saving if we don’t have proper to basis to follow? So, we must first define our basis prior to start saving which later lead to our investment portfolio. The basis could be modified and updated further once we start getting our minor goal based on our basis.

Let say we want to start with some investment in property but have no capital to start and what would be the strategy to define our basis? Definitely the property’s price will be the first basis for us to follow then will dictate the next basis which to acquire the amount of fund for the down payment of the property. Later the amount for down payment will be the following basis which we have to follow so that we’re on the track to get materialize our first investment portfolio. When defining the basis, the duration to accomplish the goal is a vital basis. So, we must define the basis how long we need to accumulate the down payment amount. From the duration we can define the monthly saving to be allocated for this investment portfolio.

To illustrate the scenario let us consider an example of case study. Let say Afnan want to buy a property worth of RM 120,000 as the first property and the first basis will be the property’s price. Then second basis will be the to accumulate down payment amount of RM 12,000 which later dictate following basis which is timeframe. If Afnan wants it to be materialized within a year then he needs to discipline himself to allocate monthly saving of RM 1,000. Hence, when Afnan follows step-by-step of his basis that he developed earlier obviously it’s not impossible to achieve his dream towards financial freedom.

Always remeber that when defining our basis, it must be rational so that it is feasible to follow and implement. So!!! What are you waiting for if you can define your own!