Randomness: Transcending scarcity, envy, and spendy, because, money matters!

Hey lovlies,

Nowadays with the rising of our cost of living in Malaysia, we should have more awareness on how we can spend and generate more income. I came across one article today by Ellen Powers, founder of Money Matters and i find it interesting enough to share her tips on how to spend wisely. 

By Ellen Powers, founder of Money Matters

Here are 10 tips I want to share with you on how you might transcend scarcity, envy, and spendy too:

1. Ask yourself, “really?!” every time you open your wallet for wants vs. needs. Can
   the money you are reaching for do more good in your life elsewhere if you
   protected it?
2. Don’t live beyond your means. Learn to love living well below your means. It’s
   cooler. No one really cares if your kitchen tile is a custom imported hand cut
   stone from Italy.
3. Ignore the flashy spending others do. Create a financial goals timeline even on the
   back of a cocktail napkin for starters. If envy strikes, review your goals.
4. Log in to your retirement savings account and look at what’s in there, look at how
   much is going in from each paycheck, look at where it’s going and how those
   investments are doing, ask yourself if they are balanced and are serving you
   well or if they’re costing you and keeping you up at night. Don’t look at it
   every day. Just often enough.
5. Ask yourself can I be saving more and in more places? I actually save over 25% of
   my gross income annually. You may need to save more or less. Start with what
   you can afford and then up it every year. And save at work if you can, and
   beyond work if you can.
6. Keep a long-term perspective. Don’t give up too soon. And know that it’s never too
   soon or too late to start. I’ve seen my regular, consistent contributions build
   up over time and compound. Compounding is a magical thing, but the magic takes
   time, patience, and consistency.
7. Think about how you can protect your savings, your assets, and your income. That
   means insure yourself adequately. Lots of ways to do that.
8. Ask for help. Really ask and seek out help. 
9. Remember, no one will ever care about your money as much as you do. Make at least as much time for your own financial planning checkups, as you do your vacation planning.
10. Be well. It just costs less.

Because, your money matters!


Lots of Love,

Juitanis