Skip to content
anakbrunei.org
anakbrunei.org

Discovering Life's Insights, One Thought at a Time.

  • Home
  • Featured
  • Promotions
  • Reviews
  • Food
  • Scooped
anakbrunei.org
anakbrunei.org

Discovering Life's Insights, One Thought at a Time.

Ten financial habits I wish I adopted when I started working

Posted on 08/02/202314/02/2023 By Reedz

  1. Save and invest consistently: Start by creating a budget and setting aside a portion of your income each month for savings and investment.
  2. Increase your income: Look for opportunities to earn more money, whether through a side hustle, asking for a raise, or advancing your career.
  3. Educate yourself about personal finance and investing: Learn about different investment options and make informed decisions about how to grow your wealth.
  4. Avoid lifestyle inflation: As you earn more, resist the urge to increase your spending accordingly and instead, maintain a frugal lifestyle and reinvest the extra income into savings and investments.
  5. Take advantage of government savings schemes: Make additional contributions to the supplemental pension or retirement scheme to ensure their welfare upon retirement.
  6. Diversify your investments: Consider investing in real estate, bonds, or other assets in addition to stocks.
  7. Minimize expenses: Find ways to reduce your monthly expenses, such as cutting back on luxury items, negotiating bills, and finding discounts.
  8. Take advantage of employer benefits: If your employer offers a retirement savings plan, such as the Contributory Pension Scheme, make sure to participate and contribute as much as you can.
  9. Build an emergency fund: Having a reserve of cash can help you weather financial storms and avoid going into debt.
  10. Seek professional advice: Consider working with a financial advisor to create a customized plan for building your net worth and achieving your long-term financial goals.

Share this:

  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on LinkedIn (Opens in new window) LinkedIn
  • Click to share on Telegram (Opens in new window) Telegram
  • Click to share on WhatsApp (Opens in new window) WhatsApp
  • Click to share on Reddit (Opens in new window) Reddit

Related

Post navigation

Previous post
Next post

Search

Top Posts & Pages

  • Whats the difference between religion and tradition?
  • Balancing Tradition and Modernity in Brunei
  • BEDB iCentre incubatees officially incubated...
  • Vintage Rose Re-launched
  • The new line up
  • Ambuyat and Beyond: Exploring Bruneian Cuisine
  • What flavor ADHD are you?
  • Majlis Konvokesyen Institut Teknologi Brunei
  • Kang Comfortzone
  • Pingat Indah Kerja Baik
  • Ambuyat and Beyond: Exploring Bruneian Cuisine
  • Bruneian Chevening Scholars So Far...
  • Circle of Concern vs Circle of Influence
  • New Media and Identities
  • Resilient Souls: Overcoming Mental Health Stigma among Brunei’s Elderly
  • About

Archives

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org
© 2000-2023 Md Reeda Hj Malik
 

Loading Comments...
 

You must be logged in to post a comment.