Tuesday, January 15, 2008

Monitoring my Progress


I read Kuwaiti Women’s blog and her last post really inspired me to write how I started saving Dinars few years back….

It all started in 2001 when I came back from London and got into relationship in 2002. I left my dad’s business and wanted to work as I knew me and her couldn’t get married here and we decided to runaway when the right time comes. I didn’t want to get the blame tomorrow from my parents that we did all this for you and this is what you gave us. So I moved apart not only from the business but even from my parents. I was so deep into my relationship at that time that all I cared was how much I could save to make our life’s better after we get married.

I started my career as a school teacher which I changed later and that time half of my salary used to go in phone bills (KD 150 – KD 200). Saving KD 50 from my savings every month was hard but I still used to try my best to do it. This is when I was 22, a time when any guy like me would be enjoying the pleasures of life but I was too busy saving few KD’s every month hoping for a better future. We were so innocent that we planned that even if we have KD 2000 as savings that could be more than enough to get married. Our parents brought us up in such a way that we never realized how less we had. But hearing past stories we thought we were in better hands. That KD50 saving soon reached to KD 900 and with every increase you feel you want to save more. Its like when it reaches KD900 you want it to reach KD1000 and when it reaches KD2600 you want it to be KD3000. The urge just never stops.

She kept on delaying the dates and I kept on saving and saving thinking one day we have to go so let’s save. With more in my account every month you then plan for mehr or dowry (KD5000 min).I did a few wrong investments like trusting a few bad Kuwaiti lawyers who took money for bad advises (GOD forgive them) for being cheaters and investing in KSE where I lost a big chunk of my savings. But I learned a hard lesson that its better that you have KD10 in your account and add KD 1 to it every month then you invest it at a place where you have little or no experience and then loosing that too.

I kept on telling her that I am saving this much every month and my target is this by the end of the year. I didn’t wake up from this saving thing till she left me without a closure without a bye a few months back. It was the time when my dad finally handed me over his business and planned for his retirement.

What was I left at the end with? KD 40000+ of savings and business which did mean a lot to me then but nothing to me now……

And as I have really worked hard to save every Dinar in this last 5 years. I would say save enough so you don’t have to spread your hands tomorrow in emergency. Invest carefully in Kuwait unless you have a lot of backup incase your investments go in minus and you have enough to support you then. Fixed depositing in banks is not the best thing as you get less returns but at least they are fixed or if it’s an Islamic Bank which I deal with they dont have fixed returns as it depends on their profits. I always say after the past experiences that less is better than losing it all.

El7emdella 3ala kelshy!!

19 comments:

intlxpatr said...

Love the Enya!

Amu, I thank God you didn't stop blogging. This is one of the best blog entries I have ever read, hands down, across the Kuwait Blogs. You and Fonzy set a high standard for the rest. I am so impressed - you saved KD 40000? ? ?

The woman who left you was a fool. God has someone in mind for you who will wipe her out of your mind. Honestly, Amu, I am blown away at what you have accomplished.

I agree - slow accumulation is the way to go. I love Kuwaiti Woman's blog, and you might want to check on on Skunk's blog (It's all gone a lil wonky), too, as he has keen insight into the Kuwait investment scene.

..::Amu::.. said...

intlxpatr: I love Enya too :)

well yes I did save!!half cash in hand and a rest in business...

I never called her a fool...I just pray she is happy for whatever she does or wherever she is!

Skunk's blog!! I will try to check it soon but need to get the address...?

Bader said...

Great Blog, Thanks for the advice.

OutOfReach said...

mmm amazing wallah what you did for her mmm i dont know what went wrong to end the relationship but 5eera enshallah ,, everything happens for a reason believe me,,,
wish you the best o0 inshallah you will find your soul-mate soon to complete you , as you know money isn't everything ,,,
wish you the best , love joy and happiness amu;)

..::Amu::.. said...

bader: thanks for dropping by :) glad you liked them!

outofreach: well tribes and nationality are 2 big reasons!

thanks for the wishes and hope you get the best too :)

Kuwaiti Woman said...

Thank you for this post Amu! It was fascinating looking into the finances of a blogging friend and the journey that led you to KWD 40,000. I hope one day I can say the same for myself.

I'm sorry about the broken promises but I hope both of you find happiness.

Thank you also for your investment advice. I will need a lot of it when I manage to save enough to go into the KSE but I want to be responsible about it and your advice is invaluable :)

..::Amu::.. said...

Kuwaiti women: enshallah you will soon :)

Enigma said...

why does it mean nothing to you now? You should stop dwelling on the past and focus on the future.

I applaud you for not throwing away all your money on useless things, but u better start enjoying it before it's too late.

and when r u gonna change the annoying black background? It's blinding my eyes!

Amethyst said...

Saving is a pleasure.

..::Amu::.. said...

enigma: I dont know its just not imp to me!! its like money doesnt gives you happiness...Well I did waste a few thousands by buying speedo but then got on the track and I am now taking it easy! I hope this back ground is better for your sensitive eyes :P

amethyst: in what way?

intlxpatr said...

Amu, here is Skunk's website:

http://sknkwrkz.wordpress.com/

He, like you, has this amazing philosophy - live BELOW your means and save /invest the difference, just as Kuwaiti Woman is doing. He also works with one of the finance houses, and always has a slush fund for buying opportunities *read - market tanks*

loya said...

mashalla!! i wanna save too! :D ba as enigma said, why are you dwelling on the past? khala9 stop it, when God closes a door he opens a window, inshalla you'll find a better replacment soon ;)

'Grey' said...

Hey man ! May be she is not a fool but she lost a the best thing that could have ever happend to her ... not the money ..... YOU !

I'm no in a saving mode right now , just today i was thinking whatever i had saved is flowing out of my hands like water ... I hope i get to save some for my son !

Lala* said...

Amu

الخيرة فيما اخناره الله


I'm sorry but I so hate that girl now.

You were willing to throw your life away for her, leave your parents, leave your country, MY GOD!!!

I'll tell you what I told "Fourme" before you:

This WILL pass..
all the pain, and all the hurt WILL PASS..

Believe me, I've been there!

***

And I liked ur black background :-)

..::Amu::.. said...

Intlxpatr: thanks I will check it soon...

loya: save..save and save !!!

grey: when I am there I will be like you too..thanks for the care bro!

lala: thanks for the care and wishes :) mmm I guess I love black too I will go back to that soon :)

FourMe said...

What you did was an amazing acomplishment and I just hope you don't spend it all away cuz she's gone.. Try to maintain what you have and save even more.. one day it will come in handy.. well done:)

..::Amu::.. said...

fourme: cheers mate!

perfecty said...

Your ex..

It's her loss.

TOUCHE' said...

Impressive progress, hell do you accept a personal accounts management offer :)

Your loss is your gain my friend.