Ah well, human beings ARE greedy. Even if we are paid “this much“, we will never be satisfied. Thus, we’ll end up pursuing more and more $$$ to fulfill our greed for money. This will result us in possessing more than enough money that we need. What should we do?

If you are someone who prefer short term gain, you’ll most probably end up like the old me – buying something of no value (or the value will depreciate, and never the other way round) or buying something related to our interest(s) or hobbies. For myself, I must admit that everytime I have some extra $$ in my pocket, I’ll look at technology gadgets or gaming equipments such as the latest Nintendo WII (which really caught my eye). I can easily spend all my “extra income” on this so-called “short term gain“. The resell value of this WII? Close to zero I’m afraid. I’ll most probably have to lose more than 50% of the price that I paid if I were to resell it. That is why…until now….few months later, I’ve yet to buy this WII. ๐Ÿ˜›

To me, short term gain will always remain as short term gain. It is better to use our money elsewhere. If you haven’t get an insurance, go get it. It’s the first thing that you really should invest in for the sake of yourself and your beloved ones. We will never know what might happen tomorrow. ๐Ÿ™‚ It’s better to be safe than sorry.

If you have any outstanding loans – car loans, housing loans or even study loans (yea, I have all of them), use part of the money to pay them off. You’ll surely be charged some extra interests from the banks or financial institutions……but you will also take off some burden off your shoulder. Trust me, having a number of “big money loans” on your shoulder is NOT an easy thing to cope with.

After you’ve settled insurance and loans, maybe you can start looking at other type of investments –ย  mutual funds, fixed deposits, stock market (highest amount of profit but it also has the highest risk. Make sure you know what you are doing before you get into this), etc. Remember, investments are very important because it helps you to “grow” the money that you have. It is the place where you plant your “money tree. Just make sure you seek advice from professionals before you commit to any investments….and beware of scams. ๐Ÿ™‚

I hope that these tips (which I’ve read from a local magazine) will give some basic insights on how to manage your money and where are the right places to put your hard-earned $$$.

If you still cannot figure out where to put them, just let me know, I have a brand new (still empty) savings account looking for donations. ๐Ÿ˜› Just kidding. Have a nice day.

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