Dear readers, I believe many of us can feel the higher costs of living from our daily expenditures.
I believe the most obvious increase in prices will be on food: for myself, my average spending at hawker centres can be easily from $6 up from some $4 few years back.
Amidst the higher cost of living, there are just few ways to stay one step ahead of higher costs: Create more Wealth such as from Wise and Profitable Investing and Secondly to Save more.
Investing often comes with risk and this is not the topic for today’s post.
Rather, this post focuses on Saving more and really one way to ensure we save more is to track our expenditures.
By tracking and measuring our expenditures, we can then compute our Savings using the simple mathematical equation of Income minus Expenditure.
After we obtain our savings, then we can compare with previous months how much more we have saved.
I am of the view that the modus of savings more is often not emphasized but rather the slogan of saving more is often perpetuated.
To grow our savings, we should focus on track our expenses which is more actionable rather than to just have a shout out of savings more (which is vague to many as to how one can accomplish this).