Planning For Better Finances 1

Planning For Better Finances

Financial cards, accounts, and e-wallets

Equipped with a much better awareness of your financial life, you will now need to discover how to use your cash appropriately. You can establish automatic payments in your selected bank for recurring costs or settlements. You may wish to transfer a set amount of funds to a financial account with a debit card that you use to purchase your essentials.

E-wallets and prepaid cards are also fantastic means to segregate your cash to curb the possibility of deficit spending. You must understand your credit line and the rate of interest your bank charges for repayment for those who utilize bank cards.

Consider bargaining for a low-interest loan.

The maximum amount you can typically borrow with a moneylender Singapore personal loan is around ₤ 25,000. The maximum you can usually borrow on a bank card is approximately ₤ 5,000. If you’re thinking about lending a smaller amount of money, it may be worth obtaining a bank card rather than a loan.

The advantage of a bank card is that it provides a little more adaptability than a loan—you can obtain money as and when you want, and you can pay it back as quickly as you desire. In contrast, a loan will provide you with a set sum of money, a fixed quantity of interest to repay, and, more than likely, a repayment plan you’re sealed into for a specific amount of time.

The other point is that if you can get a 0% interest offer on a new charge card, this is an even cheaper way to obtain it as there’ll likely be little or no expense. Naturally, this only works if you remember to make repayments promptly and if you repay the card before the 0% rate of interest offer expires.

Be prepared to exit.

When it involves bargaining, you ought to constantly be prepared to leave.

If your lending institution is resisting the temptation to offer you a competitive rate, don’t be put off by the refinancing process.

Nowadays, switching lending institutions is relatively basic and can often be finished in a week. For this reason, if lowering your interest rate is essential, prepare to change lenders.

Insurance, Retirement, and Education fund

Financial products such as insurance require you to pay a repeating premium, generally yearly or month-to-month. Many people shy away from buying insurance policies because they do not understand the need to be covered or protected.

As there is no assurance in depending on luck and good fortune alone, a good insurance policy strategy will certainly be put to good use when the need develops. Be it travel, life, or health insurance, you and your loved ones will be safeguarded in the event of illness, accidents, and fatalities.


I am a writer, financial consultant, husband, father, and avid surfer. I am also a long-time entrepreneur, investor, and trader. For almost two decades, I have worked in the financial sector, and now I focus on making money through investing in stock trading.