AEC Week 3 Money Management

My favorite video from this lesson would be from these links :

http://finlit.sg/learning-videos/

https://finlit.sg/learning-videos/control-your-spending-and-credit-usage/

Firstly, the first link shows a video asking if I am a spender or saver. It shows a regular guy  and lady in a relationship living happily and enjoying themselves.

income – expenditure = either savings that will be deducted or leading to a debt.

But when they overspent their income they landed in a huge debt which resulted in a broken relationship that could have been easily fixed if they had dedicated at least a small sum of their annual income into a bank or into investing.

Whereby in another scenario,

income – savings = expenditure (less shopping and credit cards)

They were able to start a family and kept their happy relationship which really motivates us to spend wisely and save whenever possible.

In the second link, it really teaches us to spend within our capable means instead of overspending and leading into a huge debt that would make us bankrupt. It might not be wise to carry the latest trends and gadgets if you find it more of a want instead of a need.

In conclusion, we should really consider spending on things that would in turn be beneficial towards us instead of spoiling us to get more updated with the trends. Money Management

 

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