Personal Finance 101

1. Read More, watch Less TV

Read more, books teaches you more than TV ever will, unless you’re watching the Science channel. Read books that teach you skills that can help you earn more at work.

2. Sell Your Junk

Everyone has ‘junk’ at home. What you consider junk may be something another person wants. So try auctioning the things that you don’t want or haven’t used in a long time at Ebay. No point in throwing away something when it can earn you a dollar or two.

3.  Be Loyal

If you usually shop at a certain shop or fly a certain airlines, try to stay loyal and enroll in their loyalty programme. Pile up the reward points and used them wisely. I had a friend who forgot that he had close to 300,000 points on his airlines rewards programme and allowed nearly half of it to expire. What’s the point of painstakingly accumulating those points if you’re going to forget about them? Don’t make the same mistake. If you really cant travel or redeem the points, donate them to your loved ones.

4. Buy from a List

When you’re out shopping, go with a list of things to buy and a budget. Cultivate discipline. Stick to you list and our budget and you’ll soon have your life in control.

5. Eat at Home

Eating at home is so much cheaper than eating out. It’s all right to bring friends over and cook for them.  Or ask everyone to bring a dish. You can save a lot.

More tips the next time…

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