Managing your debt and finance

Have you heard the phrase "money is not everything but everything is money"... You might enjoy a lot today with money in your pocket, but you might be crying tomorrow if you never care enough about to manage your money... Sound simple but the impact you might suffer a years

How to better manage your finance?
1. Prepare and stick to a budget - get started with one today and be discipline to yourself!
2. Pay yourself first - you are your decision. At least 10% of your income should set aside first then second thing come after.
3. Live within your means - spend less than what you get. Be realistic to you own pocket money and do not follow your shopping eager...
4. Be a smart shopper - always look out for the best deal. Never regret to get the cheapest because why pay more right?
5. Set up an emergency fund - save at least 6 months to your living expenses
6. Pay bills on time - consider a standing instruction as your best deal
7. Divest your investment - don't put all eggs in one basket
8. Be wary of get rich quick scheme - it's rare to get returns of more than 20% per annum. Is somebody offer your 20% per month!!!.. get rid of it quick!

Remember this "Failing to plan is plan to fail"

How to use your credit card wisely?
1. Keep maximum 2 credit cards at all time. Forget about your "gaya, mutu, keunggulan" before you suffer.
2. Treat your cards like you treat your own cash - keep on track when & where you use it and spend it with your conscious mind.
3. Don't swipe if can't afford to repay in full. Hmmm
4. Pay more than minimum due monthly because the compounding interest is a silent killer.
5. Avoid taking cash advances because the finance charges are crazy high.. better go to your uncle if you need money.
6. Check the monthly statements and make sure there are no irregularities
7. Shop online only with trusted websites. e.g: airasia.com etc

Remember this : "If you are not able to manage your credt card, please seriously consider getting a debit card"

How to better manage your debt?
1. Borrow only for productive purposes and not for gambling or buy share in KLSE haaa...
2. Ensure you can afford the monthly repayments comfortably.
3. Save for a larger down-payment, to reduce the loan amount and interest charges.
4. All monthly repayments should be less than 40% of your gross monthly income.
5. Be prompt in your repayment to maintain good credit standing
6. Use surplus funds or extra income to reduce your debts.

Remember this : "Always keep debts at manageable level"

Renung-renungkan dan selamat beramal