7 Steps to Having More Money$

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1) Budget: Keep it simple. But keep it realistic! Once you can see where your money is going every month, you can come up with ways to reduce expenditure in some areas for better financial health. 2) Spend Less Than You Earn: Easier said than done! Pay all your bills. Don't put it off or it will snowball and take you along with it for the ride. How do you spend with what are you left with? 3) Wants vs Needs: You have shelter, food, clothes and loved ones. Everything else falls under "wants" category. Do you really need that new iPhone? I mean, no one is gonna miss you for a few hours you are away. Even if they do, your current handphone works just fine right? Do you really need to get a new car? I know families who own 2! I mean, seriously?! Is that new car smell worth thousands of dollars? Paper bag your lunch. It is not unglam. C'mon you are not in high school anymore. Who cares what others think? Even if you have to, limit it to dining out twice a week. 4) Cash It! There is something painful about counting out cash from your wallet to give away than using a card. You will think twice about spending $6.50 on a McDonalds meal when you are paying with cash than when you are paying with your card. Sure, $6.50 is small but $6.50 here, $12.75 there, 18.90 later on will all add up to a significant amount by the end of he month. 5) Pay Yourself First: Not for that new handbag or gadget doink! Place 10% of your savings in a fixed deposit or an investment portolio. This is your nest egg. For the future. Better yet... 6) Automate It: Every payday, I have my bills automatically deducted and 30% of my salary automatically diverted to my unit trust portfolio which generates 10% interest every year. The rest of the money I spend it on food and transport and even then, I only spend less than what I have left. 7) Reward yourself: Once every year or half a year, buy that new toy. Buy that new Gucci Bag. Go for that trip you have always wanted to. You will still be left with a substantial amount in savings! I guess the 7 steps can be summarized into 1) automate payments + savings and 2) Spend less than what you have left.