Up Your Financial Game: Ways To Combat The Rising Costs Of Living
Don't be shocked if your usual caifan order suddenly increases in price in the coming months (or even weeks). Yes, everything is becoming more expensive due to #inflation and the rising cost of living.
According to a recent YouGov survey that asked Singaporeans how they felt about PM Lee’s National Day Rally speech, more than half (54%) ranked economic challenges due to inflation and rising costs of living as the issue that would impact them the most.
If you still want to add meat and add fish to your caifan - can is can - then it's time to cultivate better saving habits, and you're never too young (or old) to learn how to be more financially-savvy! Here's a round-up of everything you need to maximise each paycheck:
Better financial habits
Say real, #adulting is hard. There are so many different bills to pay on top of costly housing, a family to start, etc. Just always remember: the earlier you start, the better off you'll be.
Be honest, one of your New Year's resolutions for 2022 was to be more thrifty, right? If you're still figuring it out, no fear, it's easier to try aiming towards certain goals that will keep you on track.
Saving (more) money
You can not only do good for the environment, but save money as well - think: going paperless, using less electricity and water, taking public transport instead of owning a car, and more.
Even something as simple as remembering to turn off switches that are not in use can help you save a pretty penny each month! Take the next level by buying energy-efficient appliances instead, and you won't get a heart attack each time you see the electricity bill.
With the whole oil and energy crisis going on in the world now, fueling your car is going to get more expensive. One tip you can use - and you'll become a safer driver as well - is to drive at a more steady speed, making your vehicle more fuel-efficient.
Maximising every dollar
Are you the type to wing it at the supermarket and just grab whatever catches your eye? No wonder your grocery bills are so high lah! Even a straightforward thing like a shopping list can help you reduce the chances of buying things you don't need.
Good habits start young
It's never too late to start, but NGL, the earlier the better. Teaching your kids the value of money, and fostering good financial habits in them from a young age will set them up for life.
Unless your kid is the next Warren Buffet, they'll probably not care about learning about money. But these methods will definitely give them good financial acumen - even if they don't learn anything, at least they'll be decent at maths.