elder couple

While there are many written books and articles on Personal Finance Management tips, I thought these tips from an elder couple could be a good guide too.

No matter how much we earn, less or more, if we didn’t manage it properly, we are in big trouble.

Once we received our first month salary, we would be thinking “Oh yeah, im going to live my life as much as i have ever wanted!”. Well that is absolutely fair to have the thought, but shall we be more considerate?

Save 20% of your salary to build an emergency fund

Anything could happen anytime. Your car may breakdown, you may get a food poison or even worse, your beloved ones may get admitted into hospital. All these tough situations need some emergency fund. It is advised to save 20% of your salary to build the fund.

Plan your financial goals

Have both long and short term financial goals. Are you planning a short vacation at the end of the year? How much do you need to save each month?

How about getting married in 3 years time and building the family within 5 years? Set the goals and plan accordingly.

Generate multiple stream of incomes

Never ever rely on single income. You will not know when your boss will start hating you, just kidding. To avoid any uncomfortable situations in the life, its always the best to generate multiple incomes.

Learn investing

Don’t directly invest into an industry that you have very minimal knowledge. Instead, learn the basics, hang out with mentors and replicate their actions. On the long run, investing will be a good return too. Do it at your own risk!

Needs and wants

We may urged to get some good branded stuffs even when we don’t really need them. Watch out for nice to have things! Write down your needs and prioritize them accordingly. If you don’t need them urgently, try to postpone the buying period. At the end, you may surprised that many of your needs might turn out to be your wants.

Save more with cashback and loyalty points

If you notice that you are always buying toiletries in Watson, why not get a member card and enjoy the privileges? Go for supermarkets that provide good price with loyalty points that you can claim at the end.

There could be tons of tips on the net. At the end of the day, its our commitment and discipline on how are we sticking to our financial plans and rules. Have one and follow them. Respect the money and money will respect you back. Practice gratitude throughout your life, things will be really great.

Feel free to comment below if you have any thoughts on the topic.


  • Taneswary

    Designer, Writer and Listener

    Nature lover, gets excited over green scenery. Asian girl, expanding her connection to all over the world with only motivation to spread positive vibes, and cultivate their positive thinking. I love talking on dreams and your ideas on how you're planning to work for the listed dreams.