Best Credit SG® Pte Ltd established since 1985!
Locations
Blk 372 Bukit Batok Street 31, #01-378, Singapore 650372
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Opening Time
Weekday: 10am – 8pm
Weekend: 10am-5pm
Public Holiday: 12pm-5pm
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Direction to Best Credit SG®
- Exit C via Bukit Gombak MRT (NS3)
- Across the road in front of Bus Stop ID: 43579
- Arrive Blk 372, Best Credit SG® is located at #01-378
Here we have some advice about how to manage your money better
Life is much easier, comfortable and straightforward when you have excellent financial skills and knowledge on how to manage the money. How you spend and use your money on your daily expenditures determines your credit score and the amount of debt you end up carrying with. You might be worried about lack or inadequacy of knowledge and skills on money calculations and management. If you are struggling with money management and planning, for example, you are living paycheck to paycheck despite making more than enough money, and here in this article are some tips that will help you to improve your financial habits in money management.
Think Before You Spend
When you are faced with decision expenditure, especially a significant purchase decision, do not just assume you can afford and get something. Confirm that you can actually provide it and that you have not already used those cash to another purchases and expense.
Meaning, using your budget and the balance in your checking list and savings accounts to decide whether you can afford a purchase or clear out the expenses. Remember that just because the money is there does not mean you can make the Purchases. You also have to consider the bills and fees you will have to pay before your next payday.
Have a Budget plan
Many people do not budget because they do not want to go through what they think will be a tedious process of listing out expenditures and purchases, adding up values, and making sure everything lines up. But if you’re wrong with money, you don’t have room for excuses with budgeting. If all it takes to get your spending on track is a few hours working a budget each month, why wouldn’t you do it?
Instead of focusing on the process of creating a budget, focus on the value that the budgeting will bring to your life and for the future.
Give Yourself a Limit or spending for unbudgeted purchases
An essential part of your budget is the net income or the amount of money left after you subtract your purchases and expenses from your income. If you have any money left over after your investments and spending, you can use it for fun and entertainment, but only up to a certain amount. You cannot go crazy with this money, especially if it is not a lot of it has to last the entire month. Before you make any huge purchases, make sure it will not interfere with anything else you have planned.
Capture your regular Spending
Small purchases here and there add up quickly to more expenses, and before you know it, you have overspent your budget. Start capturing your spending to discover areas where you may be unknowingly have overspent. Save your receipts and write your purchases in a spending journal, categorizing them so you can identify areas where you have a hard time keeping your spending in check.
Do not commit to Any New Recurring Monthly Bills and expense
Just because your income and credit qualify you for a particular loan, does not mean you should take it. Many people commonly think the bank would not approve them for a credit card or loan they cannot afford. The bank only knows your income, as you have reported, and the debt obligations included on your credit report, not any other requirements that could prevent you from making your payments on time. It is up to you to decide whether a monthly payment is affordable based on your income and other monthly obligations.
Ensure you are paying the Best Prices
You can make the most of your money comparison shopping, ensuring that you are paying the lowest prices for products and services. Look for discounts, coupons, and cheaper alternatives whenever you can.
Save Up for Big Purchases
The ability to delay gratification will go a long way in helping you be better with money. When you put off large purchases, rather than sacrificing more essentials or putting the purchase on a credit card, you give yourself time to evaluate whether the investment is necessary and even more time to compare prices. By saving up rather than using credit, you avoid paying interest on the investment. And if you save rather than skipping bills or obligations, well, you don’t have to deal with the many consequences of missing those bills.
Limit Your Credit Card Purchases
Credit cards are a terrible user’s worst enemy. When you run out of cash, you turn to your credit cards without considering whether you can afford to pay the balance. Resist the urge to use your credit cards for purchases you can’t afford, especially on items you don’t need.
Contribute to savings regularly
Depositing money into a savings account each month can help you build healthy financial habits. You can even set it up, so the money is automatically transferred from your checking account to your savings account. That way, you don’t have to remember to make the transfer.
Being good with money takes Practice
In the beginning, you may not be used to planning and putting off purchases until you can afford them. The more you make these habits part of your daily life, the easier it is to manage your money, and the better off your finances will be.
Sticking and adhering to the above, dangerous individuals who would wish to manage their money can achieve it greatly.