My close girlfriend J has been reminding me to save money for the rainy days. She just got married last year and lamented that she should have saved enough money when she was single. So she has been reminding me since then...
I do have a bit of savings but I must admit that it is not a big figure and I can do better. So since September last year, I decided that I will log in my daily expenses so that I can monitor my expenditure and find out if I can cut down in some areas and save more money. It did help a bit and it is slowly improving.
Surely as the years come and go, my expenditure has grown but savings are lesser. Compared to my previous job 5 years ago, I now earn 50% more but my savings is less than what I could save then!!
In order to really do something about it, I decided to set down that one of my resolutions this year is to save a certain percentage of my salary and I will continue to watch my expenses.
I think it is no coincidence when I was catching up with another church friend D yesterday. I told him that I had thought of pursuing a Masters in Nutrition overseas but due to the high cost, I thought that it would not be possible. We then began a conversation about savings and money. D has been married for 1.5 years and he too, feels the strain of family finances. He thinks that if I can set down practical ways to cut down expenditure, I can save quite a sum of money overtime and I can go study!
These few general suggestions that came out in our discussion:
1. Take less taxis. Take bus instead!
2. Cancel unncessary credit cards and don't be fooled by their gimmicks.
3. Eat at food courts, hawker centre. Only eat at restaurants at special occasions. When with a group of friends, be the first to suggest to eat at a more economical place. Others will appreciate and follow :)
4. Consider taking bus instead of driving.
Suddenly I begin to realise that this is one area of my life that God is challenging me to work at. (In fact, I just recalled that I was on a similar topic with another girlfriend just last Thursday!!) I may or may not go study my Masters but I surely think it is high time I be more prudent of the money I earn, given by God. There are a few things I can do proactively and one of it is that I will be cancelling 2 shopping credit cards. I guess being single, it is easy to spend money on many things since I do not have much financial burden. It also doesn't help that I work so near Orchard Road. I think I also need to be less generous... I spent quite a bit on gifts for people in the last 3 months. Wedding ang baos, birthday gifts, Christmas gifts... perhaps I should think of a more cost-effective yet meaningful gift for people.
So next time when you see me, remind me to save :P Don't expect me to give you expensive presents :P But surely I will welcome any tips to save money :)
Lord, help me be a good steward of the money that you enable me to earn. Help me put into good use for your glory and Kingdom-sake.