Spring is definitely upon us and it’s definitely one of my favourite seasons – not that it matters in Singapore but I just love spring fashion! I’ve recently gone to vivocity and got obsessed with the spring collection that most of the shops there have to offer.
Anyways, I’m sure everyone is itching to get their hands on, well, everything! Like have you seen H&M and Forever 21? I am obsessed with everything they have! And if you’re a shopaholic (kinda, sorta) like me, budget is definitely going to be an issue, no?
But fret not, my friends. Here are some financial tips for you to survive on this spring!
1. Create two separate bank accounts
I’ve actually learned that having two separate accounts the best way to save and to make sure you do not have $0 at all times. Of course this is for those who are already earning an income. You can have one account for your daily use and the other for strict saving. Whether you choose to deposit more into your savings or not, it’s definitely better than having nothing. And in any case you’re planning a vacation or applying for a license, you can always use the money in your savings and you’re all set! Just make sure to be disciplined enough to put in some money into your savings account monthly.
2. Spend wisely
I know, so cliché. One of my bad habits has always been going around taking uber. It’s my guilty pleasure because… it’s just so convenient! I could use it for as frequent as twice a week and by the end of the month, I would stupidly question myself as to why my money was depleting so fast. So avoid unnecessary spending
3. Set a goal on what you want to buy and stick to it
Early this year, I made a goal to expand my makeup collection and I could say proudly that I have stuck by that goal *pats self* How I do it is visit Sephora every once in a while to see what new products they have. I would then do my research (mostly watching reviews) to see if their worth the hype and if they are, I’d get it at the end of the month. I’d usually only get that one item plus a mac/urban decay lipstick (because they are the bomb!) to prevent overspending because I know how tempting it is to walk into Sephora with one item in mind and then leaving with five more. I also started to spend lesser on clothes and shoes just because I want to be committed to creating a makeup collection. So whether or not your interest is to having a whole new wardrobe, getting new room decors etc, you should stick to it!
4. Top-up your cards in bulk
Ever since adulthood, I no longer have the luxury of having student concession for my EZ link card. #postgraduateproblems. So what I would do is to top up my EZ link/kopitiam card roughly $50-$70 every month so that I don’t have to worry about my travels or meals. Those two are my frequently used cards and I don’t have to worry about having cash on me too! I honestly can’t explain how relieve it feels knowing that I have enough money for food and travel.
5. Pay your debts on time
I used to have loads of unsettled debts… with my parents, haha! I realized after a long time how much I needed to pay in the end and I hated the feeling of wasting my money on settling my debts. I personally do not own a credit card because of that habit and the last thing I want is to have truckloads of letters from the bank/credit card companies to remind me of the money I owe them. Of course, credit cards can be great when it comes to spending while you’re overseas etc. You can visit credit card insider to learn more and if you’re contemplating on which credit card is suitable for you, you may visit their rewards page!
That’s it for today! I hope you find these tips useful and do let me know what other tips you have! Cheers! Xx
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