Sydney Maco

The old school method of Maco investing is buy property, pay it off as fast as you can, then buy another one. This is a tried and tested method our parents have used to accumulate wealth over the last 30+ years with varying degrees of success. To their credit, they have done a great job given the circumstances and challenges faced. Is our generation shaping up to be just as diligent with money, or will we see a whole generation of ungrateful brats who squander their parents hard earned wealth.

Simple concepts that some of us struggle with these days include;

• Earn more than you spend
• Don’t buy something unless you have the money
• Don’t buy something just because it’s on sale
• If you need to talk to someone for an hour, drive over to see them rather than call them on the mobile

These days there are more sophisticated ways to invest, future and options trading, etc. I’m a firm believer that we still need to get back to basics before we can consider the more exotic investment types. It’s a mindset that needs to be developed before you blindly dive into any investment strategy.

One concept I came across recently was the distinction between Financial Literacy vs Financial Fitness. It’s like the difference between someone who has read a lot of recipe books, etc, and the other person who has actually cooked many different dishes, some of which came from a recipe book. Also the distinction between the objective, and the means to achieve that objective.

Here is an example scenario. For example if we are presented with an opportunity to invest in a high yielding investment (4% per month, for example), we think it’s great then rush out and put all our savings into this investment ($100,000, for example). Once we see the money flowing, we think this is great, I can eat out every night, buy gifts for family and friends, indulge in our fetish for technology and gadgets, etc. Then we may decide, hey, I want more of this, maybe a porche, or a holiday house on the coast, etc. Our objective now becomes more passive income for self indulgence, so we manage to put in another $100,000 and now getting returns of $8000 per month. At this stage we’re on a slightly different social setting, we won’t be caught dead in McDonalds or KFC, but rather go to restaurants where a meal for two would be over $150, eating out at least 2-3 times a week, if not every night. Still this is not enough so we manage to put in another $200,000 and now getting returns of $16,000 per month. At this stage we are so caught up with this lifestyle, that we’d do anything to protect our current arrangement. Things we may have seen as not in our nature, and criticised others for, we’re now contemplating.

What went wrong with the previous story ? There was no strategy or objective to begin with, but rather the money became the objective in the end. My point is, money is the means, not the end. Earning $200,000 per year does not make someone happy in itself, trust me. If you see the dollar signs before you see the effect it has on your heart, then you’re bound to get caught in this trap. A trap that involves working, spending, sleeping, eating, then looking for more of the same, especially if it’s tax deductible. Rather a better strategy would be to forget the money, and think what you want to achieve, realistically, and not some pumped up idea from an infomercial. Also it’s important to get informed of options you have, but don’t get caught up in the detail, enough information to make an informed decision. Goal setting is a topic that’s been over-thrashed in my opinion, but it’s essential, these goals must be realistic and achievable.

• Basic needs obviously come first, and for most foxtel is not a basic need, so list your basic needs, if things came to the crunch.
• Then next, the areas you would like to allocate more towards, for example childrens education, nicer car, etc.
• Finally, the luxury items, like gadgets, foxtel, jewelry, etc.
• Contribution or donation is something most people overlook, but it’s also essential for your own sense of what money really is (an enabler).

Then you can work out a staged approach with milestones of meeting your basic needs, then doing that bit extra, finally the freedom to help others achieve the same. After all, you’re quality of life is only as pleasant as the people in your life, help others, they will help you.

Marriage is a big commitment, takes careful consideration, a lot of planning and is one of the very big decisions a person has to make in their life. I have been to my fair share of weddings here in Sydney, and have seen a variety of customs and practices from various parts of Macedonia.
Obviously the customs we’ve adopted from western society are sometimes prevalent, namely;

• the extended bridal party
• page boy and flower girl
• best man and matron of honour
• the throwing of the garter
• the bouquet
• ceremonial father giving away of the bride at church

However, it’s encouraging to see that Macedonian customs are also being upheld at these weddings, customs such as;

• Numko and Dever being the witnesses at the wedding
• Dever taking the shoes to the brides place
• Brichenje of the Zet in the morning
• Mesenje of the Svaka
• The singing of “Chereshna se od Koren Korneshe” at the brides place
• Darvanje of all the guests in the morning

Less practiced customs include;

• The burning of the Svekrva’s apron
• Taking a chicken to the bride’s house on the day after the wedding.

Customs I’ve only heard of and never seen practiced include;

• The display of the white bed linen after the wedding day

I’m always amazed at the amount of energy, time and money that’s devoted into planning a wedding these days. To me it seems to be increasing with time, weddings used to take 2-3 months to prepare. These days it’s typically over 6 months, some couples start planning a year ahead. This can be a very trying time for the couple, where differences in opinion, sometimes even differences in values come to the surface. Feelings of ” I’m doing all the running around, and he’s/she’s not lifting a finger ” sometimes come about. I’ve seen instances of people become so consumed with the whole wedding planning, that it actually changes them as a person. People who were previously well mannered, humble, and gentle, all of a sudden become arrogant, rude, and jealous.
Sometimes when weddings come up in our conversation with others, I like to point out that people these days put more effort and planning into their wedding day (and it is one day), than the rest of their life together. There is usually a few moments of silence at this point as this thought sinks in. Then someone jumps in to try and keep the conversation going, usually it’s the person who dislikes this thought the most. On the rare occasion that this topic continues, we’ve discussed how it would make great sense to devote more time and effort into the days that follow after the wedding day (and I don’t mean the honeymoon, for those desperately hanging on to denial).
The most extravagant Macedonian wedding I’ve been to in Sydney had over 750 guests, the couple arrived by helicopter, and the groom wore a white suite (not to be outdone by the bride ofcourse). This theatrical display which to me looked like a comedy at the time, unfolded into a true tragedy, ending in divorce. There’s a point to be made here I guess, and it’s most likely this; Don’t stress planning you’re wedding, take it easy, enjoy, put your energy into the rest of your life together.

Giving a child a name is a huge responsibility, it has many implications for later life. Some parents are not too concerned about “what’s in a name” and may opt for picking one from a TV Soap Star, or some other Celebrity. In case your thinking it’s a new trend, you’ll be surprised to find that you’re mistaken. Earlier generations did the same, I know two guys with the name Elvis, for example.
As we approach the much anticipated arrival of our next baby, my wife and I are faced with this very decision (not whether we name our next child Elvis). We’d like to retain some of our heritage without making life too hard for our child. Some old Macedonian names that could make life hard include; Stavre, Spase, Pavle, Vasilka, Biserka, Slavica. To the other extreme we have names that are totally foreign; Debbie, Aaron, Michelle, Justin, Jason, Grace, Matthew, Sandra. Nothing wrong with any of these names at all, but it seems to leave an aftertaste of identity crisis once we’ve reflected on these names a little longer. Some parents will even go to the extreme of adding a “designer” middle name, almost like adding the garnish on a well presented dish.
I’ve sensed this identity crisis within our community here is Sydney, especially those first generation Australian born.
Here in Australia, although I’m born and bred in Sydney, I’m considered a foreigner with a name that fits in the first category described above. On the other hand, when I go to Macedonian, I’m still a foreigner. You just can’t win.
The need to fit in is so overwhelming for some parents that they’ll give their children first and middle names like Grace Alana. Combine this with the surname and you have what I call a hybrid-anglo-wannabe name like Grace Alana Stojanovska. My point is, if you add garnish to Graf, it’s still Graf. Be proud of your heritage, don’t try and disguise it, change the flavour of it, etc.