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A financial journey for you, me, and everyone else in between - fueling good money sense and personal entrepreneurship in Singapore!

Survive the recession financially!

So the recession is here, and the banks have started to lay off staff. The boom days have come and gone, with us in its dust. The STI has fallen by about 50% from its all-time high. How do we best prepare ourselves for the days that follow? What are YOU doing?

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Shop for a wallet and end up buying your whole wardrobe

We’ve all done it before - haven’t we? We walk into the department store wanting to replace a old wallet, and end up with a new watch, 3 pairs of new shoes, 3 tops, 1 pair of jeans, 2 earrings, and 5 pairs of panties. (referring to the ladies here, of course). The men arn’t that much better off, so stop smirking.

In fact, it just happened to me last week! I walked into a watch shop with a $500 maximum budget wanting to buy a watch, and i walked out with TWO watches, simply because they were having a sale and the total cost was less than $500. I could have saved $300 dollars instead of just $50 (I spent $450).

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Is your kid sending 25,000 SMSes a month?

And abusing his call minutes, talking on his phone with girls like talktime’s free? Even with free unlimited student minutes, this is still not a good thing. It’s a downright bad habit.

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