Image Credits: pixabay.com
1. UNTANGLE YOUR STREAMS OF INCOME
If you are juggling through your day job, online business, personal blog, and weekend side-job…take a breather!
Multiple sources of income sounds great in theory but it can be very challenging at times. I can attest to this statement as I am freelancer. When new opportunities are handed to you, analyze if you (and your schedule) can handle another weight. You do not want to waste your precious time on things that are not necessary.
2. ALLOT MONEY USING LAST MONTH’S INCOME
Budgeting your money is efficient for two reasons. It brings you a sufficient cushion as you are a month ahead of your bills. Also, it is very helpful for people with irregular income.
Image Credits: wikihow.com/Do-Envelope-Budgeting
3. CUT DOWN YOUR BANK ACCOUNTS
In a world filled with choices, most people have several number of financial accounts. You may have an account that brings highest interest or another that brings the highest shopping rebates. More than being complicated, the constant shuffling between these accounts can get messy. This is why you must narrow down the number of your accounts.
4. REDUCE YOUR JUNK
Reduce your physical and virtual junk authorizing creditors or vendors to issue bills using one method. If you want to go paperless, keep digital copies of your important documents on the “cloud” or on an external hard drive. If you are old-fashioned, organize all your documents in labeled folders or boxes.
5. SET SMART FINANCIAL GOALS
Develop a habit of financial goal setting to know where you are going and to plan how you can get there. Write down your financial goals with a trusted witness and contemplate the monetary milestone you would like to accomplish in the next 2 to 5 years. Track down your monthly progress.
6. CONSOLIDATE YOUR BILLS
Are you tired of receiving 3 separate bills for your landline, hand phone, and internet services? Consider consolidating all of them in a single bill by signing on bundled services. For example, Singtel’s Fibre Home Bundle (1 Gbps) offers the following:
a. Fibre Broadband,
b. Wireless Dual-band Router
c. 4G Mobile Broadband Plan, and
d. Home Digital Line with free unlimited local calls.
This plan costs S$59.90/month with a contract of 2 years. What is nice about this plan is that it offers an additional “10% off monthly Mobile subscription” (T&C apply).
Image Credits: pixabay.com
By bundling these services together, you just eliminated 2 monthly bills!
