The power window on the driver’s side of my car broke down yesterday. Luckily for me, my father knows how to repair the faulty parts.

My father is a mechanic and sometimes he salvages some good spare parts when his customers replace faulty sets with new sets. He changed the motor of the power window within minutes and it works just like new. He saved at least RM70 for me.

Last year, my brother started his business. He moved into his new office and we all helped to paint his office, installed lightings, cleaned the place and fixed up the furniture. This saved my brother at least hundreds, if not thousands. I am sure this helped to free up his limited capital for other important expenses.

We are all experts in our own areas. It’s a blessing to be able to tap into the different advice, skills and knowledge of the people around us. We should treasure and be thankful to our family, relatives and friends who help us.

Today, I used the rebate points in one of my credit cards to buy two pairs of short pants.

Last time, I would spend and collect credit card points. When I have accumulated enough points, I would browse through the bank’s rewards catalogue and choose items to redeem. Often times, I had to choose items which I do not really need from the limited choices available.

When rebate cards and cash back cards hit the town, I was glad and quickly got myself a couple of these cards. The rebates I earn could be used to pay for anything I buy from selected merchants. Today, I bought two pairs of shorts. The point I want to highlight is, I can choose any items I need from the merchants’ stores instead of browsing through the bank’s rewards catalogue.

Cash back cards are even better. These credits are credited into the account and reduce the amount outstanding on the card. This is as good as giving cash back to me.

When my colleagues and I go for lunch together, they usually want me to pay for the bill first and reimburse me with cash when we return to the office. I don’t know why they prefer to do this. But it works out in my favor because I earn credits from paying for these lunches.

The current financial crisis reminds me of a saying. “One bird in hand is worth more than two birds in the bush”.

I had just graduated from college during the previous recession after the Dot Com crash in 2001. The economy in my country was just starting to pick up after the Asian Financial Crisis of 1997/1998. Therefore, the impact of the Dot Com crash did not hurt much because we were already wiped out in 1997.

Another reason why the Dot Com crash did not hurt the economy in Asia much was because there were not many Dot Com companies in Asia back then.

This time around, I could clearly see the impact of the financial meltdown. I could finally appreciate the meaning of “globalization”. The financial crisis on Wall Street has affected share markets around the world.

Overnight, Lehman Bros lost 80% of its value. AIG lost 40% over a weekend. These are difficult times for stock investors. Billions of wealth have been wiped out since the outbreak of the sub-prime mortgage crisis in August 2007. The worst hit are those whose retirement funds are tied to these stocks.

In these uncertain times, investors may wake up day after day to find that their personal wealth has decreased again and again. Now is truly the time to embrace “one bird in hand is worth more than two birds in the bush”. Cash is King.

Today, I changed my auto engine oil and oil filter. I usually change these at my father’s friend’s auto service workshop. His fee is about 20% lower than the market rate. I’ve been using his service for about 3 years now.

This is the first time I drove to his workshop after the 41% price increase in gasoline announced 3 months ago. His workshop is quite a distance and there are a couple of traffic lights along the way. At one of the lights, I had to queue for 10 minutes before getting through the light.

The long distance and time spent on traveling prompted me to think if I should start changing oil at a nearer workshop.

What do not have to always follow what we have done in the past. And we should always re-evaluate our options from time to time. The best choices in the past may not be the best choices now because of the non-stop changes in you life cycle, economy, financial status, technological advances and environment.

People generally incur mobile network expense. I generate mobile network income.

I use a prepaid mobile network service. Therefore, I do not have any monthly fixed charges. My prepaid credit is deducted if and only if I make calls or send text messages. Sometimes, I am given up to 30% bonus credits when I top up my credit balance.

This network service also allows me to transfer credits in my account to another account within the same network. I sell my credits to anybody who wants to buy from me. I figure I sell more than I buy. Example, I buy RM100 and I am credited with RM130 including the bonus credits. I sell RM130. I end up making a profit of RM30 less some transaction costs.

I know I will not be able to pull this off anymore in the future when I find myself a girlfriend. Meanwhile, I should enjoy this while it lasts.