Controlling the Urge to Spend

Frequently Asked Questions

What is a budget?
A budget is a planned spending of resources. It helps a person predetermine his spending over time.
How much should be saved?
The amount to be saved is determined by the expenses. This means that if the expenses are high, earnings must be increased.
Is it advisable to have a bank account?
Yes, a bank account can ensure that savings are kept and earn over time. Interest rates of banks must be reviewed.
What are other ways to save aside from a bank?
Savings can be invested through stocks, real estate, jewellery, all of which can earn or maintain value over time. Investing in businesses is quite risky though.
Should I get a credit card?
A credit card is means to pay if cash is not readily available most specially in emergency situations. Yes, it is advisable but it must be made sure that payments to the credit card company are regular.
What's a good way to save up for something I want to buy?
Simply take the price of the item you want to purchase, divide it into the number of months you would want to save up for it, and make sure to tuck away that particular amount every month.

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