Being financially responsible is vital for your health and your financial life. Spending less than what you make each month entails that you live within your means. For many Singaporeans, it is a lot easier said than done. Start with small financial changes to alter your lifestyle! #1: TRY BACKWARD BUDGETING Write down your income and start subtracting each monthly expense. If you get a negative number, you are spending more than you make. You need to cut back. Focus
Creating your budget is crucial, but managing your budget is arguably even more important. You cannot just write down a budget at the beginning of the year and never look at it again. You must continuously manage your money with an updated budget to monitor your finances for every month. Moreover, this budget will guide your plans to achieve your long-term goals. On that note, let us discuss the definition of Money Management. What Is Money Management? The process of
We all desire to look elegant and classy. Contrary to popular belief, you do not have to spend a hefty amount to look and feel like a million dollars. You can follow certain tips and tricks to present yourself in the most elegant way. Not only can you make your wardrobe look fancy, but also your bank account! TIP #1: INVEST IN STAPLE PIECES Key fashion pieces consist of the most valuable clothing items in your closet, which can provide
Let us face it! Saving money as a teenager is challenging, especially when you have friends who are constantly buying new clothes or are going on yearly overseas trips. However, it is possible. Here are 6 tips on how teens can save money despite the temptations and less income. #1: OPEN A SAVINGS ACCOUNT Opening a savings account with the help of your parents or guardians is a good idea as it will train you to manage your money.
Establishing a healthy relationship with money takes effort, but it pays off. You must manage the highs and lows, and everything in between. #1: PUT IN EFFORT FOR IT TO FLOURISH Much like any other relationship, you have to put in effort to your finances for it to grow. A positive mindset and the right attitude towards money can help strengthen your relationship. Plant the seeds of appreciation and contentment for what you already have. Perhaps, you are grateful for