DEFINING NEEDS AND WANTS

We often look for satisfaction at work. Most of the time, we work because we have no choice. We need our salaries to sustain our needs and wants – that iPhone, the branded bag, the holidays and everything else.

Our salaries doesn’t seem to be enough though. There are tonnes of bills to pay and sometimes, you are left with peanuts for your own enlightenment. Last night, I received my credit card bill and was shocked that my supplementary card holder spent more than I did. Who’s the main cardholder, again?

Money is hard to earn, and right now, I think twice about the next expensive meal I will be having and all the festive spending that is happening around me. That also includes the major spending ticket at the end of the month. I have no idea where the money will grow from.

So, I have decided to implement a few steps to help me save money for this month and the next month.

  1. Stop all online shopping

    It’s true – my folks used to tell me to spend cash so that I know how much I am spending. Remember how painful it was when you have not enough money to buy stationery at the bookshop when you were kids? Yup, that’s because you only receive your allowance in cash. Now, there are credit cards, Paypal and many other cashless methods, making you spend more money without knowing.

    Bye bye Carousell. Bye bye Qoo10. Bye bye eBay.

  2. Keep only one credit credit for your spending

    We have credit cards from major banks to enjoy the different promotions at different places. But if you concentrate all your spending on one card, you might start to realize that you have been taking that card out too much and your monthly bill will scare the shit out of you.

  3. Set aside a fixed amount for lunch

    A $5 lunch should get me somewhere.

Say yes to SAVINGS, no to spending.

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