But is there any truth in that? Is the situation so jialat that for those not born with a silver spoon, its only debt, debt and more debts.ssSSss....?
So here... some mini steps to save:
1. track expenses
- analyse the wants and needs, the extras, the wastage...
- download apps so tt there is "live-tracking"
- just like dieting, a sudden change may just be a bomb going to be detonated, sooner or later. then all previous efforts will go down the drain and then *haizz... what for? no matter how I scrimp and save, also no use... go slow and steady. set a timetable for the revised budget, and revise it from time to time.
- commitment is the key
- set achievable goals to motivate yourself
- Clear all debts! unless it's "GOOD DEBT" like property loan...
- After clearing all the unnecessary debts, set up emergency funds (6 mths of expenditures) ! *touch wood*
- Pay yourself first - feel tempted to draw and draw like there is no tomorrow? set up an account in another bank, online banking, and chucked tt card into the recycle bin. Maybe if every time need to queue and wait whenever there is a need to draw money, no money will be withdrawn. ^_^
- work a lot of OT this month and find yourself having tt bit of excess money? windfall? angbao? well, be nice to yourself, reward yourself a bit... save 50% spend 50% or 40% into investment acct 40% save 20% spend... work out a strategy that will motivate you to keep to the plan. :)
- personally, I love the fact that using credit card (*note the danger!) allows me to claim points, rewards and discounts. So for all excess, I credit N% into my credit card... so I can sign more with my cc.
/back to STEP 1 tracking expenses... monitor monitor... Good luck!
