2011 is just around the corner and I bet everyone has started thinking of visions and goals. Its too early though to disclose your missions but anytime is a good time to speak in blogosphere...
This is what keeps on rambling in my head day-to-day. Money. I don't have a big payslip, I don't have any business talent and I am certainly not a big-risk taker. So I don't see myself driving a big fancy in 2011 because I know I can only afford steering the 660cc drive machine.
More or less money you have, the no 1 rule of money is 'Management'.
Anyhow, If you guys don't mind, I would like to share some of the practices that I have created in 2002, have carried since then and will be carried forward to 2011.
1. Fencing System (Pagar Duit)
I have registered few bank accounts years back. When the money comes in every end of the month, the first thing to do is to seggregate the money to these accounts. Each account must have a limit of 'spending'. You do the limit. Say for example, you have 270 ringgit in your account. Put 200 as your fence. Do not fall from that fence, or you will be eaten by an alligator.
2. AKSD (Aku-Kena-Simpan-Duit) method
If you are living in Malaysia you have the access to these minor-risk investment from an institution called PNB. Think your ASB account as your pet. Feed the pet and the pet will get fat. Save up as less as 50 ringgit per month without fail.
3. Daily Food Allowance
I am receiving daily food allowance from my husband for 15 ringgit. In year 2009 it was 10 ringgit. The years before were lesser. Having 1 extra money container really helps. Everytime there is balance, I'll shift it to the other container. Without realizing it, there is 50 ringgit in the container. Then its sushi feast!
Those are the simplest methods that I have used to manage my daily financial routine. If its a good practice to me..it may turns out good to you too. So give it a shot...
...thanks bungaoren for the photo-shopping session..