Money

How Saving Money Lets Singaporeans Save Face

For many years the residents of Singapore have faced a challenge in saving face. The ideas of saving face have many practical uses some of them is that it encourages people to be self-reliant, collected and informed. From the financial experts, you will be able to know that the act of saving money and saving face are related.

Some situations describe that one has lost his face, some of them are:

– Being seen by the community or your family as being wasteful.
– Not being competent at your place of work.
– Having financial ignorance.
– Having a poor appearance.
– Approaching retired parents or friends to support you financially even when you are an adult.

You will face these situations if you have poor financial management. For instance, if you like spending beyond your reach you end up depleting all your account forcing you to depend on your friends.

If you have a disciplined saving plan, you have some qualities such as being self-reliant, informed being able to perform well at work and also being a provider.You may be wondering how you can achieve this; you should not worry. Below are some of the highlights on how to go about it.

Proper finance plan enhances self-confidence

If you become a burden to other people, you will surely lose face. It is easy to get assistance from your family since in Singapore many families emphasize on living as a community. For instance in case you are unable to pay loan debts or bills your relatives will come in so that they can assist you.

However, if you continue to rely on them for a very long period, you will surely lose face.You will be damaged psychologically when you find out that when people find you as a burden in that, you cannot rely on yourself.

Financial experts such as Credit Hub do advice that once you start working, you can budget your income in such way that you save around 20 % of your salary. If you continue saving you find that after some time you have so many funds that will save you in case you are faced with an emergency. This will limit the chances of requesting your relatives to assist you financially. If you save you will perform better.

In many cases, if you have a financial crisis you may not perform better at your place of work. If you have no idea on how you are going to get the funds to pay your bills or buy food at the end of the month, you may lose the motivation and creativity that is needed.
You do not need to use money to keep your appearance.

It can be a fallacy that many of us try to spend more that we should try so that we can save face. For instance, some people usually wear watches worthy $70000 so that they can have a face which is wrong. Experts suggest that for you to have a face, you have to maintain dignified appearance. If you are a parent, you have to ensure that all your children can access all the basic needs. On the other try to keep your maintain your home is a good manner, try to dress well and also be well groomed at all times.

The best way you can achieve this is by disciplining ourselves when it comes to managing our finances. For instance, try to reduce spending your income on items that are too expensive, and they do not add any value to you. Why should you buy an expensive that consumes a lot of fuel while you can get a cheap car that will consume little fuel and still enable you to get to your place of work? If you do not overspend your income, you will be in a better position of buying any basic items that will enable you to look well. By buying expensive clothes does not mean that you will look well, but it is how to maintain yourself with the clothes that you have. You to avoid bad behaviors by saving money.

Even you are rich you will start to lose face when you engage in some activities like going to a club and spending like $ 20,000 per night. Even though you afford it is good that you avoid spending without any plan as you will finally face a crisis.It is good to fun with your friends or relatives, but you have be cautious on how you use the money that you have.

In many cases, you will find that if you continue spending money in those prestigious clubs, will not take long before you run bankrupt. This is how so many celebrities in Singapore with over $ 50 million in their bank account usually end up being bankrupt after some time. When you start to save money, you will be in the process of being a provider.

Being a provider is another idea of saving face. This aspect can be looked in three perspectives one the parents look it as being able to ensure that their children get the basic needs while children view it as the being able to care for their parent when they are old. The community sees it as the being able to support many of the projects in the community and finally leaving a memorable legacy.

The financial experts in Singapore have revealed that you will not be a provider by just saving money alone. You have to take an extra step by investing the money that you have saved. If you have invested in housing and your relative needs shelter, your saving will save him/her in that situation.As seen above poor financial discipline is what can mainly you to lose face. By taking a step and saving money from now onwards you will not worry about losing your face. By doing this you will not be seen as an individual who keeps his/her things under control, but you will a greater part of your life in control, therefore, living a happy life. Try now and you will live a happy man/woman.

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