You are utilising your money the wrong way

ashart By ashart, 9th Jun 2015 | Follow this author | RSS Feed | Short URL http://nut.bz/2m7omnhh/
Posted in Wikinut>Money>Money Saving Tips

Have you ever wonder how to utilize the most out of your salary every month? How can we stretch your dollars? Here are a few tips in which you can follow so as to make every cent worth.

Additional tips picked up!

I'm not the first to be discussing this topic with you and I've previously written a few articles regarding money saving tips. Have picked up a few additional skills on my money saving journey and would like to share them.

Try to avoid cash transaction

"Avoid cash transaction?", bet most of you are confused on why I suggested this. Let me give you an example, you pay 10 dollars for a meal in cash as compared with credit card, you are going to earn cash rebates with your credit card. In comparison, 10 dollars is gone when you pay in cash, whereas you get back a fraction of that 10 dollars when you pay with credit card. When these transactions accumulate over the month, you will be getting back a fraction of the amount that you have spent but in cash, you would not be getting back anything.

Check out the credit cards deals!

Don't forget to utilize the deals that comes with your credit card! 10% off a meal will save you a few dollars! But NEVER forget to pay your credit card bills, always remember to do a one-time pay off every month, in that way, you would not have any interest accumulated. But there is no discount for cash payment which brings us back to the first point, try to avoid cash transaction.

Look for the best risk-free savings investment!

Look out for some of the best saving plans out there in the market, just like ocbc360, which you can read more about here. Try to invest in a saving plan where you will not lose your capital. You would not be earning that much as compared to stock market, but for those who wants to invest and not take the risk, saving plans can be of an option to you.

Tags

Money, Money Building, Money Management, Money Saving Tips, Saving

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author avatar ashart
I love writing. I like to write whatever that comes to my mind.

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Comments

author avatar Sivaramakrishnan A
10th Jun 2015 (#)

Good points Ashart. The future looks uncertain for continued job opportunities with part timers more in demand. Every penny saved is every penny earned. Credit cards are tricky too when we overspend - siva

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