Are you in debt?

With rising costs and increased learning needs, financing our children's education is no longer a simple walk in the park. Discuss with other parents about how they are managing their finances to cope with their expenses.

Are you in debt?

Postby Guaranteed » Thu Nov 21, 2013 1:35 pm

Are you in Debt...? :gloomy:

Ever think that just by paying the minimum of your credit card bills, it seems never ending in settling it? :moneyflies:

In such senerio, how do you still manage to save some money and find ways to cut down costs? :? :?

Are you one of them? :nunchuk:

Share your thoughts

Guaranteed
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Re: Are you in debt?

Postby Guaranteed » Thu Nov 21, 2013 3:14 pm

anyway, i have posted a post for free english foundation class under the academic learning n enrichment forum. please feel free to go take a look.

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Re: Are you in debt?

Postby scang » Mon Dec 30, 2013 2:05 pm

Have a sound sensible plan, be it savings, spending or investing.
You will get out of debt in no time.

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Re: Are you in debt?

Postby zbear » Mon Dec 30, 2013 9:06 pm

Earn more? How to if you are not a Snr level manager n above?

Spend less? How to when prices of everything go up so rapidly? N this refers to basic items.

Invest? How to when the economy is so volatile n gains are so pathetic? U need to be a good financial guru to reap good investments n it takes a lot of time, efforts n guts.

zbear
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Re: Are you in debt?

Postby scang » Tue Dec 31, 2013 12:56 am

zbear wrote:Earn more? How to if you are not a Snr level manager n above?

Spend less? How to when prices of everything go up so rapidly? N this refers to basic items.

Invest? How to when the economy is so volatile n gains are so pathetic? U need to be a good financial guru to reap good investments n it takes a lot of time, efforts n guts.


You don't have to be a financial guru to do the above.

But taking the first step to enhanced your financial education and literacy is an absolute necessity to know how to earn more (even if you are a production worker, not even an executive), and invest intelligently (don't have to be an A student or have degree, but learn, know and apply the fundamentals).

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Re: Are you in debt?

Postby b2b3m4 » Tue Dec 31, 2013 9:11 am

zbear wrote:Earn more? How to if you are not a Snr level manager n above?
Its precisely if non sr level then there is a chance to earn money thru OT pay, commission etc.
There are also simple surverys out there that allow you earn some points that can be exchanged for vouchers.


Spend less? How to when prices of everything go up so rapidly? N this refers to basic items.
Buy no frills. Buy what is necessary. Eat less meat and seafood, save money and good for health. Make own coffee / lunch / etc to bring to work and avoid eating out.

Invest? How to when the economy is so volatile n gains are so pathetic? U need to be a good financial guru to reap good investments n it takes a lot of time, efforts n guts.

b2b3m4
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Re: Are you in debt?

Postby scang » Tue Dec 31, 2013 1:01 pm

You can buy this book from bookstores or borrow from the library as a start.

What Your School Never Taught You About Money - Dennis Ng (a local self made millionaire).

He had since passed away due to a heart defect, that he was born with.

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Re: Are you in debt?

Postby NigelTKM » Tue Jan 07, 2014 8:40 pm

Yea I agree, there are plenty of good and informative books out there. The bookstore is a piece of heaven on earth. Then comes the part of putting it into practice which might be challenging for many. Those 3 factors mentioned to manage debts are very relevant, earning, spending and investing.

Investing needs to come with several personal skills, the spirit to seek for self improvement (to read up, going for courses and listening to different perspectives) and discipline (to stick to your investment portfolio plans). Bundled with the knowledge and skills of investing itself.

There are alot of people in a rush to make more money by jumping into investments without proper knowledge and skills. And the market is a shark infested area waiting for that random surfer to enter the water in a rush because he sees a large and beautiful wave to ride on.

I believe most of us invest for the purpose of a better life for our families and us, i.e. to better manage our cash flow(decrease debt). But many people focus on the accumulation portion so much until when something bad happens, A huge chunk gets chopped off. Then they have to puncture their accumulated cash flow and transfer it out into the outflow bucket and falling back into debts. Protecting those returns generated is one important factor.

Why do businesses cover themselves with so many different policies, for their keyman and for their own employees like you and I? We are all businesses, our own lives, our investments, our families, ourselves. These are part of our very own business in life, but why is it that we just focus on investments? Didn't investment itself teach us to mitigate risks?

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Re: Are you in debt?

Postby rogerin88 » Tue Jan 07, 2014 11:44 pm

take up part time job.....there are ways out

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Re: Are you in debt?

Postby scang » Wed Jan 08, 2014 2:11 am

rogerin88 wrote:take up part time job.....there are ways out


If you have a primary job, then taking up another part time job may not be a wise plan, as you are simply exchanging whatever little time you have left for money, since we only have 24 hours in a day.

Creating another source of income through a sound plan and good knowledge is a better option.

Increase your financial literacy, and it opens up more avenue of how and where the various vehicles and sources of income can be made.

Simply choose your money mountain and vehicle according to your profile and plan, to generate your different sources of income.

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