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Personal financial management, V2
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hitsugaya2010
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 Jul 25 2011, 01:45 PM
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Hi everyone,
i would like some advice on my financial management. These are my details. I have just started working last month.
Salary - 2600 (basic)
Expenses
Food - 300 (working near house)
Transport - 200
Parents - 600
Etc - 100
Internet - 50
Telephone - 50
Extra income
monthly bonus - 325
So, left every month is around 1625
of course sometimes i might use more than 100 in the etc section where i spend for daily uses and etc. I have a very bad habit of spending the money i can 'use'. therefore, i would like to ask whether there is any way to keep my money where i cannot touch and in the other it will generate some extra income for me other than FD?
This post has been edited by hitsugaya2010: Jul 25 2011, 01:45 PM
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hitsugaya2010
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Aug 2 2011, 11:16 AM
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QUOTE(nicholaswinters87 @ Jul 25 2011, 05:14 PM) Hi Hitsu, Best way to refrain from spending money you can 'use' is to deposit it into a bank account that you have no access to, preferably open up a new account that has no ATM card, no internet banking... You can also try to open it in HSBC to give you that "rich-and-successful" feel so it can be a motivator in ensuring that you consistently save without 'using' it. As for what to do with it to generate extra income, you need to start thinking of ways to invest it. And no one can give you a straight answer without having an agenda. You have to look at all types of investment vehicles, understand them completely before deciding. Good luck! hey thanks. hahaha..i tried the without atm plan. FAILED!! i think i must change myself in order to save more. thanks anyway!
Added on August 2, 2011, 11:20 amQUOTE(izwanz @ Jul 18 2011, 03:48 PM) anybody here can recommend me good finance books? I wanna read them during the holidays. I'm investing on myself!  erm..i dunno its a good book or not. but its a very interesting book describing Warren Buffet. how he does it with his money. try this book. The Warren Buffet Way by Robert G. hahaha..i'm a newbie too...trying to learn more about invesments and financial management. This post has been edited by hitsugaya2010: Aug 2 2011, 11:21 AM |
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