Recently, like a month ago, worldofbuzz.com published an article titled 95% of M’sian Women in Survey Would NOT Ride On a Guy’s Motorcycle on Dates.
In that article, a survey was conducted that says women overwhelmingly do not want to sit on a motorcycle when going on a date. The reasons given ranged from it being unsafe to having their hairdo spoilt by the helmets.
Whatever the reasons may be, the consensus is that women do not want to sit on a motorcycle.
Wahh so the terrible. Ladies, y’all really don’t want to sit on a motor meh? I thought last time someone told me people with motor very the gaya wan?
Who bluff me?!
Not gaya meh? You see this uncle. Got style wat.
Eh, that means… men, you all need to earn more money so that your darling don’t have to sit on your old kapcai motors when you guys go out la.
If not how the ladies want to go out and date you? They already say don’t want to sit on a motorcycle already.
How ah liddat?
Earn more money! Improve your financial situation a bit!
I know… Easier said than done right? But no choice. Must do. People got say before no money, no honey.
So must get more money, if not honey don’t want you.
Come come, I share with you some tips to help you improve your financial situation, ok?
5 Ways to improve your financial situation
1. Create a budget and stick to it
It certainly helps to have a monthly budget for yourself. This allows you to track your spending and know where you are haemorrhaging money.
Then examine your spending patterns and find out where the money goes. Is it going to your daily Tealive beverage? Or perhaps that extra box of Marlboro cigarettes you just must have a day?
When you’ve figured it out, it’s time to cut back or budget for that additional expense. If you can’t afford that drink every day, stop visiting them.
That said, it can be hard to stick to a budget once you’ve set them. Forgive yourself if you slip up once in a while.
2. Set your own financial goals
And while you’re at it set your own financial goals and milestones. Why are they important? Simple, they paint a smaller and more manageable picture. If you have a specific milestone in mind, it’s easier to track that on a weekly basis instead of monthly or even yearly.
So, want to pay off that pesky loan you took out years before and can’t seem to eliminate?
You can and you will.
For instance, if you have a loan amounting to RM12K that you need to get rid of, all you need to do is break down that debt into smaller numbers. Don’t think of it as RM12K, think of it as RM1K a month that you have to pay for the next 12 months.
3. Pay your bills on time aka clear your debts!
Nothing will drag you down faster than a giant pile of debts.
Delaying the inevitable does you no good when you factor in the fact that your debts have interest rates that you have to pay off as well.
Paying off your debts would also mean paying less in the long run.
A good technique that some financial advisors recommend is to prioritise paying off your biggest debt first. Pick the biggest debt you have and pay more than the minimum amount you need to every month. Watching your debts dwindle will allow you to feel better about your situation and better yet, get on top of your loans.
4. Invest! Invest! Invest!
Saving for a rainy day is all good and well, but that won’t get you much in returns. With the rate of inflation and the rather meagre savings rate in the country, one needs to learn to invest a portion of their income.
While it’s understandable that most of us are living on lean times, and investing even 10% of their income can be very difficult to do, the sad fact is that you really do need to apportion out an amount to save and invest, lest one finds themselves with nothing when they retire.
For now, while it seems impossible, begin with a small amount. Once there is something going, more can be added until the feeling of impossibility goes away. Eventually, the amount can be increased to higher amounts.
(Learn More: How to Compound Your Money Fast Through Investing)
5. Find new income streams
One paycheck is nice, two is better! Heck, why not make it three? Or four?
Investing your money in stocks, mutual funds or bonds will provide you with a steady passive paycheck but what about freelancing or a part-time job at nights or during the weekends?
Having a part-time job, even if its only a night a week gives you that extra income that you will not have if you’ve spent that night sleeping or doing nothing at home.
Find multiple income streams to supplement your main income and earn from it. If you do not know how to, a good place to start learning is by reading and watching videos by KC See teaching you how to start your own MSIs.
(Read more: Wealth Creation: Making Money Instead of Making Babies)