I remember hearing this quote from the BBC when they were doing a story about an African anti-colonial freedom fighter leader many years ago. The freedom fighter said: “When the white men first came - they had the book, we had the land. Now we have the book, the white men have the land.” No, I am not going to write about colonization or fighting for independence. I missed that boat in the 50s. Born at the wrong time L But still it stuck in my head… Let’s apply it to our financial decisions. We have the cash, and after meeting someone (distant relatives and well-intentioned casual friends are the most dangerous!), did you notice if we are not careful, we often depart with our cash and come away with something the Red American Indians have also discovered after signing peace treaties with the white men: Yes, words written on water. You may want to take a moment to pause and reflect. There are many well-intentioned sermons to part with our cash –especially those that are stroking the inflation fears – that holding cash now is “foolish”. Before we rush to buy “trinkets” from the snake oil salesmen, you make want to take your own counsel first. P.S. I have hedged myself against inflation. The point is not to do nothing; but only act through your own volition. And there lies the key to true financial freedom – taking personal responsibility. Singapore Man of Leisure (welcome to my blog; just google it!) This post was written by a guest contributor. Please see their details in the post above. If you'd like to guest post for TheFinance.sg, feel free to contact me for details about how YOU can share your tips and knowledge with our community.