Its been amazing week that AbangAbu had. Full of programs , workshops and talks. And in fact there are also few talks coming this weekend as well.
During this i were asked mostly questions on how to stay financial fit. AbangAbu said that they just have to use what AbangAbu’s S.A.I.D
S.A.I.D will make you Financial Fit. So lets begin this wonderful way to get yourself Financially Fit.
So lets what i S A I D .
S = SAVE MONEY
– know what you spend on. Always keep rack of where the money goes . Tracking will allows you to find out why your financial condition are the ways it is. This will allows you to cut and trim unwanted spending.
– its good to have some current account and make payment for all using cheque or bank deductions as the record keeping will be so accurate.
A = AVOID DEBTS
– check your credit report and make sure you are not in any debts. if there are debts outstandings, work out a plan of paying back.
– dont spend using credit cards instead change to use debit cards.
– if you intend to get something than start save and get it once you have enough and please avoid installments plan.
Kompas Wang Workbook will be a great tool for you to make sure that you are under control
I = INVESTING
– invest the money in your retirement account like CPF or EPF using the investment scheme’s that approved by authorities
– invest in learning and in yourself before invest in other things.
– start investing in some investment and keep investing.
D = DON’T LOSE IT
– Make sure you build emergency fund that will help you when in need due to unseen circumstances.
– protect yourself with adequate insurance plan , especially health and medical plan.
AbangAbu hope that this simple SAID formula can give you an idea on making your financial fit all the time.
PS: Do comment if you have questions , If you like this do share with others.