{"id":339788,"date":"2015-05-17T09:02:08","date_gmt":"2015-05-17T01:02:08","guid":{"rendered":"https:\/\/www.mariefranceasia.com\/uncategorized-hk\/how-to-save-money-339788.html"},"modified":"2015-05-17T09:02:08","modified_gmt":"2015-05-17T01:02:08","slug":"how-to-save-money","status":"publish","type":"post","link":"https:\/\/www.mariefranceasia.com\/hk\/lifelove-hk\/coaching-lifelove-hk\/how-to-save-money-339788.html","title":{"rendered":"Money Business: How do you really save money?"},"content":{"rendered":"<p class=\"p1\"><a href=\"http:\/\/www.mariefranceasia.com\/wp-content\/uploads\/sites\/7\/2015\/05\/argent1-750x410.jpg\"><span style=\"display: block;\" class=\"wrap-img\" id=\"wrap-img-96294\"><img loading=\"lazy\" decoding=\"async\" itemprop=\"thumbnailUrl\" class=\"aligncenter size-medium wp-image-96294 img-responsive \" src=\"http:\/\/www.mariefranceasia.com\/wp-content\/uploads\/sites\/7\/2015\/05\/argent1-750x410-625x342.jpg\" alt=\"argent1-750x410\" width=\"625\" height=\"342\" \/><\/span><\/a><\/p> <p class=\"p1\"><a href=\"http:\/\/www.mariefranceasia.com\/lifelove\/expert-advice\/exclusive-interview-with-ntuc-income-executive-financial-consultant-linda-oh-87928.html#post-87928\">Managing money<\/a> is simple.\u00a0As long as you don't aim for the heavens, I assure you the phrase is true! It's simple, useful and it will prove to be\u00a0fun\u00a0when the day comes.\u00a0Follow a small plan with\u00a0only one requirement: spend a few minutes every\u00a0month to manage your savings. The game plan\u00a0is based on these three essential principles. Ready? Go!<\/p> <h2 class=\"p3\"> <span>1. Reduce your expenses<\/span> <\/h2> <p class=\"p3\">I feel so much angst just from the first item on this list. First, imagine you have\u00a0SGD1,000 in your savings.\u00a0After a year, they will earn you 1%, at SGD10. It's very little. Now imagine that you manage to reduce your <a href=\"http:\/\/www.mariefranceasia.com\/diaporama-accueil\/chinese-new-year-ways-spend-ang-pow-money-74306.html#post-74306\">annual expenses <\/a>by SGD1,000. Twelve months later, you will have SGD1,000. That's a lot. The best investment by far is to have 100% of the money you save. Do you think it's difficult?\u00a0Try listing your expenses and then try to reduce the unnecessary expenses that\u00a0do not bring you substantial\u00a0pleasure. You have the right to refuse, of course, but at least I've given you notice on what to do!<\/p> <h2 class=\"p3\"> <span>2. Get to know yourself<\/span> <\/h2> <p class=\"p3\">Good management of your savings is one that\u00a0is adapted to you, your constraints and your objectives. Obviously we do not make the same\u00a0ones\u00a0at all times. We don't make the same investment five years after\u00a0retirement\u00a0as we do when we have a\u00a0budding career. It could also depend\u00a0on whether we own a property or are just seeking to buy one in the near future. We either\u00a0seek for big returns or strive for security. There are two\u00a0solutions. Go\u00a0to a financial advisor\u00a0or do a self-analysis.<\/p> <p class=\"p3\">When doing it yourself,\u00a0\u00a0there are the 'objective' factors to consider: age, marital status, income, expenses, savings. There are also the subjective elements of appreciation, like your reaction to risk. How would you react\u00a0if you lost 5 or 10% in an investment? Do you console yourself saying\u00a0it's all going to work out or do you throw tantrums and stay in\u00a0bed crying for eight days? Another one is how predictable\u00a0your work situation \u2014 and hence, <a href=\"http:\/\/www.mariefranceasia.com\/fashion\/check-out-our-favourite-picks-from-the-fashion-world-just-for-you\/earn-money-while-shopping-yes-please-5423.html#post-5423\">your income<\/a>\u2014 is. It is important to do this with sincerity, without clouding yourselves with white lies.\u00a0Finally, set your goals. What would do\u00a0your savings good? Should you aim to get additional income? Do you start saving for a\u00a0capital to\u00a0invest in\u00a0real estate, for example? Or do you establish a supplementary pension?<\/p> <h2 class=\"p3\"> <span>3. List your current investments<\/span> <\/h2> <p class=\"p3\">This is the simplest part: make a list of all the investments you already have, from all your financial accounts to\u00a0life insurance. Frankly, all of this is not very complicated. It's not to be taken lightly,\u00a0but it's not at all difficult. Moreover, it is helpful!\u00a0Because once you have finished with this third phase, you are ready to manage your savings the right way.<\/p> <p class=\"p3\"><em>Marc Fiorentino is an investment banker, financial market specialist, radio and TV commentator, and the author of\u00a0<span class=\"s3\" >Faites sauter la banque!<\/span><\/em><\/p> <p class=\"p3\"><em>Marc Fiorentino<\/em><\/p> ","protected":false},"excerpt":{"rendered":"<p>Marc Fiorentino of the site monfinancier.com gives you some advice on how to earn more money and save better.<\/p>\n","protected":false},"author":422,"featured_media":91737,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_metadesc":"Marc Fiorentino of the site monfinancier.com gives you some advice on how to earn more money and save 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