Savings And Budgeting

10 Awesome Advantages of Budgeting – Start Saving For Your Future Today

Most of us would probably have heard of the importance of saving. But how many of us can truly say that we budget our spends each month? What some of us would do is that we’ll have a budget list set out, begin using it, and then along the way revert to our old ways. Sounds familiar? Everyone who sets a budget should do so with a goal in mind. That goal can be to pay off debt quickly, to put together an emergency fund, or even to gather enough money for an investment or a down payment on a house. That said, to attain goals, you’ll have to be consistent in saving. This calls for discipline in sticking to your stipulated budget so that you do not spend the money which you intended to save. Unfortunately, it’s not going to be easy. You’ll find yourself fighting through various temptations that arise and steering clear of your old spending habits.  It is important that you constantly remind yourself about the many benefits of sticking within your budget. If you’re in need of a visual reminder, you should consider creating a vision board of what you are working to achieve. Top 10 Benefits Of Budgeting Need a refresher on the benefits of budgeting? Here are 10 advantages that you can look forward to when you begin to budget! 1. Financial Control Budgeting provides you with control over your money. You’ll be forced to get intentional about how you spend as well as how you save money. Your finances are no longer a runaway freight train, when you are now in total control. By having a good budget, you won’t have to deal with the stress of realising that you do not have money for a sudden emergency or need that arises. You’ll be better able to make certain choices, like sacrificing small pleasures that eat into your expenses in exchange of other benefits such as a vacation, or owning your own home and car. 2. Increased Focus With a good budget, you can now focus on the goals you’ve set. The

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4 Steps To Take Before Taking A Housing Loan In Singapore

Singaporeans buy a lot of things in their lives but buying a house is probably the most expensive purchase we will ever make. There are many options to choose from where housing loans in Singapore are concerned. This does not mean that making a choice is easy. One must sift through the various options, carrying out comparisons until they find the best fit for them. In truth, most people can find the process overwhelming. The financial commitment is the biggest one they have ever made and they do not want to make a mistake. As such, they try to ensure that they do everything right. Here are some steps to take that can help anyone looking for a mortgage make the right choice. Step 1 One should start by assessing their current situation. Prior to looking into the various loan options available, one should consider their current circumstances by considering the following factors: Ideal price range – Since the payments one will be making every month towards the mortgage are dependent on how much the home costs, one should use a mortgage calculator to figure out the home they can afford. This will generally be a price range and not a specific figure. Financial health – It is important to consider one’s current financial status. This includes considering how much one has in savings that can go towards a down payment, credit history, current debt load, income and the like. Of course if one has a high credit score, then he or she will most likely get better interest rates. Additionally, if one has lots of savings that can go towards the down payment, he or she will end up paying less on overall interest. Basically, private banks in Singapore offer mortgages with lower interest rates. Future plans – If one is looking to rent out the home, or will be moving a few years later, he or she must consider this and how it will affect mortgage payments. In the same breath, a person planning on living in the house for a long time may be able to look

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