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Boost Your Savings With An Entry-Level Salary

Surviving expenses as a fresh graduate in your first “real-world” job without anyone to depend on can be tough at times. Living from paycheck to paycheck, you will need to find strategies to help you save more. Aside from budgeting, here are 6 ways to boost your savings on an entry-level salary…

1. PACK YOUR LUNCH

After going to grocery, prepare your meals for the week. Packing your own lunch will not only help you save but it is also healthier. This strategy has worked for me very well before and has reduced my meals to S$5-10 a day.

2. TAKE PUBLIC TRANSPORTATION

Being in a country with an efficient transportation system, I do not see the reason why there is a need to take a cab in short distances. Buy a Public Transportation card (EZ-Link card) that you can use for trains and buses to save more. If you still want to drive via car, then carpool with your coworkers who live nearby.

3. MAKE YOUR OWN COFFEE

Your daily sip on Starbucks could be costing you a lot. Brew your own coffee for free instead. You can either make your coffee in your house before you leave or in your office during lunch breaks.

4. ATTEND INEXPENSIVE FUN EVENTS

Save without compromising fun by going to free or inexpensive events. You can search for free museum days, charity concerts, and outdoor films. There are some community events and workshops that charge as little as S$2 so keep your eye on those.

5. NETWORK WHILE YOU PARTY

Socializing with other people can widen your resources and potential business partners. But, it does not mean that you should splurge on drinks. Indulge on drink deals as much as you can during happy hours to save more.

6. BUNK WITH ROOMMATES

Living alone with an entry-level salary is not ideal. So, find friends or co-workers who can split the rent finances with you.

Image Credits: Robert Judge via Flickr

You will not only have a load off but you will also enjoy an awesome company of people who can go with you while you attend free events, happy hours, and great sales.

Don’t think it is possible? Then read how a Singaporean saved $20,000 in a year: http://goo.gl/7cUIC1

How To Earn Extra Cash While Growing Your Business Empire

As an entrepreneur, you may be aware that you can get financially unstable at times due to the market’s condition and other factors. So, consider ways to get income on the side that will help alleviate some of the financial stress. Try these 5 ways…

1. CAR FOR RENT

Rent your personal vehicle to others in need. You may post an Ad for free at Gumtree or spread the word through self-printed flyers. Get acquainted with the user first to have a firm and trusting agreement regarding the car’s usage. This will allow you to focus on your business while your car is making money on its own.

2. RENT YOUR GUEST ROOM

If you are okay with sharing your house with other tenants then rent out the empty room/s. Once again, get to know the tenants first (i.e., personality or cleaning habits) and set some ground rules because you might be living with them for more than a month. In an event that you need to go overseas for business, then you may rent the whole house to them and charge them more.

3. TRY ONLINE OUTSOURCING

Some online websites allow users to outsource their skills on a freelance basis. If you can do website development, clerical jobs, writing an essay, video editing, or any other skill…try signing up for Odesk to get decent extra income. Salary payment in Odesk is painless because Credit Cards, PayPal accounts, and Bank Accounts are accepted.

4. INVEST IN REAL ESTATE

There are a lot of methods for making money in real estate that do not require your full-time effort so you can focus more on your growing business. You can consider purchasing properties and resell them for profit (flipping houses) or real estate wholesaling. If this area is unknown to you, find your friends or people in your area with the expertise that you do not have and partner with them.

5. CREATE A NETWORKING EVENT

Image Credits: Image Credits: Cydcor Offices via Flickr

Organize networking events to help young professionals interact with the environment. You not only help others to make valuable connections but you also make money by charging the participants for the food or the registration fee.

10 Rules of Success from 19th Century’s World Richest Man

Who would have thought that a Scottish American with barely a dollar to his name would soon be the richest man in the world?

Andrew Carnegie migrated to the United States with his low-income parents in 1848. He then started to work as a telegrapher. 10 years later, he had investments in railroads, bridges, railroad sleeping cars, and oil derricks. Then, his wealth increased further as he worked as a bond salesman.

He became the world’s richest man in 1901. Aside from having a high profile, he was also a philanthropist. This is the reason why he gave away about 90% of his fortune (US$350 million in 1919 = US$4.7 billion in 2015) US to charities by the time of his death.

Image Credits: wikipedia.org/wiki/Andrew_Carnegie

CARNEGIE ON WEALTH

Andrew believed in using his wealth to help the lives of others and enrich the society. In 1889, he wrote an article entitled: “The Gospel of Wealth” that preached his belief of good will. It stimulated the wave of philanthropy.

This is one of his memos:

“Man does not live by bread alone. I have known millionaires starving for lack of the nutriment, which alone can sustain all that is human in man, and I know workmen, and many so-called poor men, who revel in luxuries beyond the power of those millionaires to reach. It is the mind that makes the body rich.”

CARNEGIE ON SUCCESS

His philosophy go beyond wealth. At the height of his career, a young journalist named Napoleon Hill reached out to him to get insight about success. Andrew Carnegie instilled the “10 Rules of Success” to Hill and it has been the foundation of much of his work.

Here are the “10 Rules of Success” that you can use in your daily lives. These are laid out in Hill’s book entitled: “The Science of Success”:

1. Define your purpose.

2. Develop a “master-mind alliance” and expand your resources.

3. Take the extra mile.

4. Practice the “applied faith” and believe in yourself.

5. Have personal initiative.

6. Indulge your imagination and creativity.

7. Exert enthusiasm.

8. Think and judge accurately.

9. Focus your effort on the task.

10. Profit from adversity.

Sources: Business Insider, Wikipedia

4 Highest Paying Jobs That You Can Get With A Business Degree

One of the most sought after degree is Business Administration or any related Business course. If you desire to succeed in business, you shall not only focus on your grades but also on your networking both before and after you graduate.

Resources and connections play a huge part especially in the business world. Being able to keep in touch with your fellow graduates will help a lot.

Looking into the Highest Paying Jobs for Business Majors, I found a research by Monster.com and PayScale.com. Monster.com is an online global employment solution for people seeking jobs and for the employers who need the right people while PayScale.com provides salary data from its online database.

4. MEDIA SUPERVISOR

Average Salary: US$70, 800

Media Supervisors are usually found in the advertising or publishing field. They oversee media researchers, consumers, and planners to make sure that the right tone of ads appears on the social media, newspapers, radio, and TV shows. Their goal is to maximize the company’s media budget in the most productive way.

3. REGIONAL SALES MANAGER

Average Salary: US$71, 200

Regional Sales Managers are found in computer systems design, management, technical consulting services, agriculture, construction, health, pharmaceutical, and medicine manufacturing department. They develop goals and quotas, analyze staff sales, and manage training programs for the staff.

2. SENIOR FINANCIAL ANALYST

Average Salary: US$74, 500

Senior Financial Analysts are found industries such as banks, computer systems design, commercial equipment wholesalers, and security affairs. They are in charge of analyzing the data that affects the companies’ investment and other financial programs.

1. BUSINESS DEVELOPMENT MANAGER

Average Salary: US$82, 500

Topping the list are the Business Development Managers. Business majors in this line of work take advantage of business opportunities either by optimizing current revenue streams or creating new ones. They identify key partnerships, research information on consumers and competitors, and understand the industry’s landscape.

Image Credits: SmithGreg via Flickr

Popular industries that cater to Business Development Managers are consulting services, electronics and appliances stores, research and development services, and computer systems design.

Source: Monster.com

5 Benefits of Freelancing

Sometimes, stepping out of the cubicle to be a self-determining entrepreneur or a freelance worker gives you the opportunity to find yourself. It may also bring more money in the bank. Nonetheless, it will give you freedom and other self-benefiting outcomes.

Here are the 5 Benefits of Freelancing…

1. DOING WHAT YOU LOVE

As Confucius once said, “if you enjoy what you do, you’ll never work another day in your life”. It is a sad truth that many people drag themselves to work to do something they are not fond of just to get enough money to survive.

If you give yourself an opportunity to freelance or by being your own boss, you will be able to do the things you love and get paid for it.

2. FREEDOM TO CHOOSE YOUR OWN WORK ENVIRONMENT

Image Credits: Lisa Risager via Flickr

Since you are your own boss, you will be able to choose the most comfortable working condition for you. Redecorate your home office—the sky is the limit. With this power of autonomy, you will notice that little things you do can make a huge difference.

3. FREEDOM OF CREATIVITY

Often, people get into freelance to fulfill their dreams of creative freedom. As a freelancer you will be able to choose what direction you will take without a rude boss over-looking your shoulders.

You are the master of your own future. Mold the present by choosing which projects to engage in.

4. SET YOUR OWN WORK HOURS

Being able to have a flexible timetable gives you the opportunity to do more of what you love. There may be days where you want to work more and there may be days where you feel sick. Have an expected number of hours of work to ensure that time is managed and work is done even if there is no fix structure.

Setting your own hours can mean that you get to drive your children to school, you can go out for private errands during lunch, and you won’t miss out on your children’s school presentations. Yes! You will be able to spend more quality time with your family.

5. PLAN YOUR VACATIONS AHEAD

Many people struggle to have their vacations synced. But, when you freelance, you can plan your vacations ahead and fit your schedule with your family. By planning your vacations ahead, you not only pay for a cheaper air fare but you also won’t miss a work deadline.

Image Credits: Kamal Zharif Kamaludin via Flickr

Simply, by being purposeful freelancer, you will be able to wake up motivated and ready to start the day’s work.

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