literacy finances

Truth about your Finances (2017 Updates)

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Truths about Money That Can Help You Grow Your Finances

Many people have their different beliefs and their perception about money. But there are certain facts that hold true no matter what your financial situation or your age is. Check out the given factor on how you can approach your money to help you grow rich.

 

literacy finances

Calculate Your Hourly Pay-Rate to Determine If You Can Make a Particular Item Purchase

It is important to determine whether the item you intend to purchase suits your budget. Don’t spend your money on items you are more likely to lose interest in. In fact, make a purchase only when it’s necessary.

To determine your hourly pay-rate, divide the total amount received, by the total hours worked. If you earn $20 per hour for instance, you can buy any less essential, costly item without giving it a second thought. With such earning, you can buy a $50 sale jacket you’d typically throw at some corner in your house. After all, you all need to dedicate some 2.5 hours to get the product.

What you’ll realize is that most of the time spend making a bargain is not always necessary. You could be wasting precious time that you could otherwise use to generate more money.

Are You Financially Literate?

How long do you take managing your finances?

Studies have revealed that many people spend much of their time scrolling through social media and planning for their next vacations. The Bureau of Labor Statistics revealed through a study that most adults spend about 13 minutes per day managing all their household activities, which is inclusive of their finances. It could be one of the reasons about 40 percent of Americans are financially illiterate.

But fortunately, it is never too late to re-plan in order to make sound decisions. We can equip ourselves with essential financial information instead of spending a greater percentage of our time on social media.

My father never liked the idea of reading books. He sarcastically told me that I spend too much of my precious time reading other people’s achievement instead of shaping my condition and destiny. But think of it again- clever people learn from mistakes made by others. You can get information on how other people accumulated their wealth. Apply it in your life, and get enormous success too.

Buying a Home Is Not Always a Perfect Financial Move

You heard people say paying monthly rent is a waste of money. Likewise, purchasing a house doesn’t mean making money. In fact, if you took a mortgage, it is more or less similar to renting. And renting is far much a relief because you don’t need to make a down payment. If you can’t put together the 20 percent down payment along with other seven months of expenses in reserve, don’t even think of buying a house yet.

Credit Review

Credit Review will be able to help you find the best money lenders in Singapore. We do this because we know how hard it is to find a good money lender despite the size of Singapore.

We will only show you the best money lender in Singapore. Why do we not show you everything for you to choose from? This is because if we are to show you every single legal money lender in Singapore, it is not helpful at all. There are so many lists showing all the money lenders. Even a list from Ministry of Law’s site! By showing you only the best money lenders. So, you know you are getting a loan from the most reliable money lenders. This will be especially helpful when you are in urgent need for money. Furthermore, it will help you lessen the time you need to find a good moneylender.  It will also mean that you will be able to resolve your problems quickly.

If you are looking for good moneylenders in Singapore, have a look through Credit Review.

Any questions you may have about legal or licensed money lender in Singapore, you can call us at +65 6850 5412. Otherwise you can approach the money lender directly and ask them your questions ?

 

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