You ready for part 2?

I think you are. So let's dive straight in...

10. If it isn’t an absolute necessity, delay the purchase of a car. Even if we don’t take car loan into consideration, other expenses like the road tax, parking fees, insurance, petrol and maintenance of the car are enough to ‘kill’.

BMW is not bad actually – use the Bus, MRT or Walk! Not shabby at all!

11. If you really miss the comforts and convenience of a vehicle, organize a car pool.

12. Invest in a health insurance. As stated in point 9 in the previous , life doesn’t always go according to plan. Unexpected mishaps do happen, and you have to be prepared for it when that comes as hospital bills can easily add up.

13. Don’t mix insurance and investment together.

Why? Such bundle products are not only more complex, but entail higher cost as well. You may be better off getting them separately.

More on this in future...

14. If you have a few debts to settle, with all else being equal, always choose the one with the highest interest rate to pay off first.

You may even want to take your time to pay off some of the low interest debt such as housing loan.

Especially if you are confident you can use this sum of money to invest and get a return higher than that of the interest to be paid.

Makes sense?

15. Resist the urge to buy any financial products immediately. A proper comparative study and due diligence may just save you in loads later.

16. Make it a habit to study the fine prints of any financial agreement. You will discover a lot of ‘hidden treasures' that weren’t announced to you in the  beginning.

This will prevent you from getting a rude shock later!

17. Spend less than you earn! How about that for being blindingly obvious? Doing otherwise and you will be in for a torrid time balancing your books!

Wait! Bonus Tip! 

18 Invest in your family. Not so much with money but with your time, concern and love. No money in the world can replace your loved ones. Yes, not even the US dollars or pound!

Hope you have enjoyed this 2 part bite size financial tips series.

Look out for more in future...

Ok, that's it for today! Stay tuned for part 2 - coming your way soon!

Yours Truly,