It’s all about DUE DILIGENCE
By definition, it simply indicates that rushing can lead to costly mistakes. It is always advisable to perform our DUE DILIGENCE or DO OUR HOMEWORK before making decisions. These so-called HOMEWORK can be done via online and offline research.
How much allocation do you put for your SSI per month?
As the saying goes, if we are unable to do check and balance, we may end up regretting certain decisions that we made that day. It is advisable by experts to set budgets to our monthly, weekly and/or daily income. Set aside budgets on how much to SPEND, on how much to SAVE and on how much to INVEST. Break your income down to three parts (S-S-I) into a pie chart or a bar chart, and set the intended allocation. Have a ledger that can help us to record our transactions, so that we can self-reflect on our income later or at the end of the month. With technology nowadays, everything has been simplified, you can record your entries in any phone apps or even in your desktop via MS Excel.
Hello, expenses! Supply and Demand.
Money makes the world go round and round. When people stop spending, everything is halted. This is basically the standpoint where there are no more demands, and supplies will go to waste. Manage your spending wisely.
Financial Needs are expenses that we need to survive; Financial Wants are the expenses that are not crucial for survival
Determine our Financial Needs vs. Financial Wants. Avoid simply and blindly follow the crowd. Just be ourselves and focus on what we do best.
These are just some of the sayings that I like relating to #money #quotes.