Archive for category Generate Savings

Do You Ever Have A Budget?

Well not me, but I would love to. Be it a daily budget or monthly or even annually, it helps us to know where our money comes and goes. Sometimes we didn’t even notice that we are spending unexpectedly excessive for the things that we shouldn’t. Thus, we might want to reduce such unproductive spending to something that might give us more value.

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Here I found a Personal Monthly Budget in Excel template. Try it for yourself and tell me your result.

P/S : I’m using MS Office 2007, I’m not sure the template will work for previous version of Office or not)

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Savings Creator #3 : Spend Your Way to Wealth

We all love to shop right? It’s the innermost essence of being a consumer. While writing this article, I’m enjoying my venti coffee Mocha in Starbucks. What else is the money for besides shopping? To light your cigar? Maybe not. Here is a way to spend money with ultimately opposite effect; it increases it even further.

Savings Creator #3 : Spend Your Way to Wealth

Almost all things we bought in stores will decrease in value over time. The shoes that we use to run, will past the point of un-resellable state after several wears. Or our grandiose newly launched 102 inches plasma TV will become obsolete in several months. So what is the solution? Easy, stop buying stuffs that deteriorate in value. Instead, find those that go up.

Instead of buying fingers-licking KFC meal, buy KFC Holdings stock. Spend a couple of hundreds once in a while or when you have extra savings. Remember the savings that you have made in Step 1 and Step 2? Spend that money in stocks or in other investments.

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Savings Creator #2 : Save Means Save

We are in the middle of shopping frenzy time. If you go to Mid Valley <cough>my second home</cough> or other malls, you’ll be greeted with big sign of SALE in every shop.

Savings Creator #2 : Save Means Save

If you’re like most people, 50% discount means you got two items with the price of one. Let’s not view it that way. You must tell yourself that 50% means pay full amount but 50% goes to your savings. The next time you save your money from your purchases, save that saving into your savings account. Got it?

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Savings Creator #1 : Pay Yourself First

Have you ever woke up early one day and all of a sudden, you wanted to do everything that you have been holding off before? Well today is one of those days to me. If it ever happen to you, why not we talk about how to generate savings to fill the special day in.

Savings Creator #1 : Pay Yourself First

Notice that at the end of every month, there will be no money left to be saved? You tried as much as possible but the spending is still on par, if not exceeding, with your income. Don’t worry, this happens almost to everyone. What you should do instead, the time you clear your paycheck, deduct RM10, or RM50 or whatever amount that you want to your savings account. The secret is to pay yourself first. At the end of the month, you won’t probably notice that you have a reduced monthly spending and additional amount in your account.

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