For the lack of a better term, 2016 was a “rubbish” year for many people around the world. Surprising political and social shifts occurred. Just take a gander at the newly elected President of United States! Nonetheless, most of us are ready to bid farewell to the yesteryear.
As you welcome 2017 with a bang, you may build a list of resolutions to signify a clean slate. Give it a go! While many Singaporeans are committing to adjustments surrounding their physical well-being, it is healthier to add several monetary resolutions.
Start becoming financially fit this 2017 by following these suggestions:
1. BE PROMPT AT ALL TIMES
There is a reason why money goes hand in hand with time. As the job market becomes increasingly competitive, most companies have minimum tolerance for employee tardiness. Keep your source of livelihood by always being on time.
You do not need to exhaust your resources or skills in order to remain prompt. You simply have to synchronize your clocks and set an appropriate alarm.
2. SAVE MORE ON ELECTRICITY BILLS
The top three appliances that spike up your energy consumption are the refrigerator, the air-conditioner, and the water heater. We became more reliant to these appliances due to the pressures of the contemporary lifestyle. This is why it difficult to give them up! So, save money by making small yet efficient adjustments.
Make energy-saving strategies a part of your 2017!
3. SWITCH TO A BETTER SAVINGS ACCOUNT
Savings accounts in Singapore were not shaped equally. Some may require you to have a minimum deposit of S$1,000, while others may not. To get most of the benefits of your savings account some encourage you to transact more, while others encourage you to withdraw less.
Earn the most profit out of your account by switching to an institution that offers the highest interest rates.
4. SEARCH THRU HOME FIRST
Before committing to a significant purchase, search inside your own home first. There are multiple ways to use your resources. You just have to be creative!
For instance, you may use your old drawer as a diaper changing table. You may also learn how to cook on a stovetop instead of replacing your broken microwave.
5. CUT DOWN ON YOUR TELEVISION INDULGENCE
The countless hours you spend in front of the television can drain your finances in the long run. Instead of immediately transitioning to the “couch potato mode”, do something productive in at least 60 minutes. You may also cancel your cable subscription and opt for watching shows at Toggle.sg.
Toggle.sg lets you watch episodes of your favorite shows at Channel 5, Channel 8, Channel U, Okto, Suria, and Vasantham – for free! But, viewing of premium content is on a subscription basis.
6. REDUCE YOUR WATER CONSUMPTION
Singaporeans do not usually worry about clean and fresh water. However, the global supply of consumable water is getting scarce and more expensive with each passing year. Consider cutting down on your water consumption to save your pocket and Mother Earth.
7. WIDEN YOUR REPERTOIRE OF FINANCIAL KNOWLEDGE
Books will always serve as a clever investment. Some books will offer you a glimpse inside the minds of the greatest businessmen, while others will uncover strategies to become better investors.
Create a realistic list of all the financial books that you want to conquer within the year. Set an achievable goal for the amount of pages or books that you can accomplish each week. You might as well start as early as now!
8. MAKE THINGS EASIER
Aren’t you tired of the massive chaos and complexity that 2016 brought? Make things easier for yourself by closing or cancelling the accounts or cards that you are no longer using. Then, set up automatic transfers. Some institutions allow the employer to automate your salary in a bank account that is solely for your savings. Patronizing this method will lessen the temptation of immediate spending.