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Borrowing from Licensed Money Lenders in Singapore – 5 Advice to Follow

It is always hard to find a good and ethical licensed money lender in Singapore. Loan offers may vary in terms of interest rates and repayment periods. Check out how you could get the best deals from them.

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How to Improve Credit Score? Singapore Edition

Credit scores dictates your financial health especially in countries like Singapore. These are the 6 steps you can take to drastically improve your credit score in Singapore!

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4 Profitable businesses to start in Singapore

Have you been thinking about starting a business in Singapore but not sure which one, no worries, we got plenty ideas for you to choose from. Before that, here’s what you need to know about this powerful and innovative city state called Singapore. Singapore is among the richest countries in the world with a population of 5.5 million and a GDP of 63,987 USD in 2019. This makes it the leading economy in Asian continent. Its market economy is so developed with over 3,000 international corporations operating in the country. These are no doubt the key pillars of its economy. It’s friendly market space constantly attracts entrepreneurs both locally and internationally. Also, it is one of the least corrupt nations globally. The system of registering businesses is simple and friendly for both Singaporeans and foreigners. What’s more surprising is that, out of 6 households in Singapore 1 is a millionaire. These super economic facts makes this country a world class business hub.

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How to easily save money in Singapore

It doesn’t matter how much you earn for a living but how you spend it. For you to earn financial freedom, saving cash must be part of your budget on a constant basis. Sometimes life can choose to go the opposite direction on you e.g. losing a job/business or even having health challenges. The only thing that can sustain you during such tough times is your savings. Singapore, having been considered to be among the most expensive cities in the world can easily push one to a point of lack due to the numerous luxurious lifestyle options available. However there are several ways in which you can minimize your dollar to enable you create that healthy saving culture that will eventually lead to financial dream. This is by simply making some simple lifestyle adjustments and still live as comfortable as ever.

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How to create a personal expense budget

Many people do not consider a budget as something to go by when it comes to spending and monitoring your income verses expenditure. Well, this a pretty huge mistake because for you to have control over your personal expenses and set some financial goals towards your success, then a budget is crucial. This article will provide you with some easy tips on how to create a personal budget and use it as a tool to gain financial freedom.

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PLANNING YOUR BUDGET

How to create a personal expense budget? Many people do not consider a budget as something to go by when it comes to spending and monitoring your income verses expenditure. Well, this a pretty huge mistake because for you to have control over your personal expenses and set some financial goals towards your success, then a budget is crucial. This article will provide you with some easy tips on how to create a personal budget and use it as a tool to gain financial freedom. What is a budget? A budget is simply a written financial plan for a set period of time; mostly a month or year. A household budget will include things like utility bills, transport, food etc. against your total income. Spending without a budget makes it hard for you to know your cash flow against your spending. Importance of a personal expense budget  It allows you to plan on how to effectively utilize your income; what to buy and what not to; and when.  It enables you to track your spending patterns and account for every coin you receive.  A saving culture for investment and future eventualities becomes easy when one has a budget.  A detailed expense budget paints you a clear picture of where your money is coming from, your current cash at hand as well as where it all goes every month. Simple Steps towards creating your personal expense budget. Write down all your sources of income. Take time and understand all the avenues through which your money comes in. For instance if you run a business(s), how much do you take home as profit after tax. If you have a job that earns you a salary, what is your net salary. If you have some passive income, how much per month. Then get the total. Create a list of your entire monthly expenses This is a list of everything you spend your money on including water, electricity, fuel, gas, food, entertainment, insurance, school fees, transport, rent/mortgage, emergency, savings etc. Categorize your expenditure list into 2 Your list should have total fixed expenditure and variable expenditure put separately. Fixed expenses are mostly constant each month e.g. rent, credit card payments, cable etc. whereas variable expenses keep changing from month to month e.g. entertainment, food, emergencies etc. Live within your means It is disastrous to spend more than you make because you will end up owing. To avoid that, review your expense patterns from time to time and make sure after spending you have a certain percentage left to take to the bank as savings. Use one of the available expense tracker apps like Household Account Book to plan and adjust your spending. Purchase with cash Avoid using credit or debit cards when doing your daily or weekly purchases. Instead use liquid cash because it helps one in sticking to their budgets. Set Financial goals Financial goal setting helps someone to be intentional and focused in their spending. Ensure the goals are smart though. Achieving a small goal like saving up to learn a new skill will motivate you to set some bigger goals in the future. SINGA CREDIT. Your trusted and reliable licensed moneylender in Singapore for your all your short term loan and personal loan needs.

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