Wednesday, May 27, 2009
Major Money Saver
1) Extend Your Planning Horizon
Plan your spending 30 days in advance or 3 months or a year or even 5 year in advance.
*The longer planning, the more you save, because
• You will know where exactly your ‘future money’ will spend to.
• You may restrict yourself for buying ‘extra’ or unnecessary item.
• You will be aware is there a need to work a little extra to reach your target. Eg a car, go on a long holiday.
2) Schedule Some Plastic Surgery
SAVING: 10 % of your income, save for a least 3 month first for future use.
Then choose to save in 10% of your income to emergency basin, be it in a trusted bank with the best interest rate. If you are a risk taker, you can choose to save 10% of your income for investment. If you are old, choose a conservative basin. If you are young, choose a risky basin.
**Remember investment is for risk taker, “never place all your golden egg in one basket”
“Money saved is as good as money gained”
Plan your spending 30 days in advance or 3 months or a year or even 5 year in advance.
*The longer planning, the more you save, because
• You will know where exactly your ‘future money’ will spend to.
• You may restrict yourself for buying ‘extra’ or unnecessary item.
• You will be aware is there a need to work a little extra to reach your target. Eg a car, go on a long holiday.
2) Schedule Some Plastic Surgery
SAVING: 10 % of your income, save for a least 3 month first for future use.
Then choose to save in 10% of your income to emergency basin, be it in a trusted bank with the best interest rate. If you are a risk taker, you can choose to save 10% of your income for investment. If you are old, choose a conservative basin. If you are young, choose a risky basin.
**Remember investment is for risk taker, “never place all your golden egg in one basket”
“Money saved is as good as money gained”
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