Ironing 101

Good tips provided by Family:May 2005 (Enlarge to see)

10 Money-Saving Tips

1. Draw on the Bank: Its products and services, that is. Open a savings account for just that - your savings. Decline the ATM card, and arrange for an auto-transfer of five to 10 per cent of your salary every month into this nest egg. Keep your household and personal expenses separate.
2. Keep the Change: Get yourself one of those cutesy piggy banks and slot in all the coins you have at the end of every day. Pretty soon, you might have as much as three months' worth of living expenses saved up - that's how much financial managers recommend you should set aside for emergencies.
3. Go the Auntie Way: Go for offers and stalk for special buys. Buy supplies in bulk from the neighbourhood stores instead of the supermarket. Check out exhibitions and fairs for electronic equipment, computers, jewellery, even furniture. Buy holiday packages from travel fairs. Seasoned bargain hunters like the heartland aunties all manage to translate these discouts into bigger bank balances.
4. Be a Hypo-Impulsive Shopper: Hypo is the opposite of hyper, read: steer clear of impulse buying. Don't give in to those insane urges that take hold of you. Ask, "Do I really need another clingy black camisole?" Give yourself a few days to mull over the question, and if you decide you want it, return to the store. The little black devil will still be there.
5. Say No to Debts: Refuse to be saddled with monthly interest payments that eat into your budget. Pay off any outstanding loans quickly, using the extra cash that your year-end bonus or performance-based incentives represent.
6. Cut the Credit: Apply the scissors to cards you don't need, and you'll also rid yourself of the annual fees, temptation to use credit unnecessarily and high-interest loans.
7. Reuse, Recycle: A battered old table can be dressed with a texture tablecloth to brighten up a drab corner of the house; you don't need to buy a new piece of furniture. Be creative when redecorating: a small potted plant or an ensemble of family photos can do wonders. Make use of colour, get to work on some art and craft - you get the idea.
8. DIY: Streak your own hair. Jazz up your own nails. Whip up your own gourmet meals. Choose your own portfolio of stocks and shares. Don't know how? Check out the library or the Internet for info, or scan magazines and other related journals.
9. Find Alternatives: Substitute those coffee binges at a premium outlet for some good ol' kopi at the corner coffee shop. Look for cheaper restaurants (like the neighbourhood zhu chao) that give you the same quality of food.
10. Divert those Straying Eyes: What the eyes don't see, the heart won't yearn for. Spend your weekends exercising and keeping fit at the neighbourhood park or the beach. Your eyes won't be staring at more oh-so-cute thingamajigs at the mall. And it's far healthier too.

Text: Eileen Chan

Extracted from Family:March 2005