Money Smart

1. Your University degree will make you a living, it won't make you rich. Your University degree  doesn't guarantee you a good retirement either. 2. Self education will make you rich. 3. Climbing up the corporate ladder, social ladder and getting what you want in life come from self education . So, invest in self education , continuously improve yourself in all aspects of life: money management, financial literacy, relationships skills, people skills, etc. 4. Don't upgrade your expenses as you increase your salary. Don't start going to fine dining restaurants every weekend. Maintain a modest lifestyle. 5. Continuously invest to grow your assets : shares, properties, etc. 6. Minimise tax legally , but don't cheat (evade) tax. If in a tax audit or a tax review case, you are found to have done a mistake (honest or intentional) and as tgevresult of the mistake was a tax shortfall, you could be held liable for a shortfall penalty (ranged from 25% to 75% of...

Work part time whilst studying . Not just for the money, but also for the precious skills. Because in working life, you won'the get promoted just because you complete cases well, but because of who you know, because of your people management skills, etc. Where to work? Work for someone who will invest in your development. Work in a place where you can gain skills that allows you to move up the career ladder. Work in a place where someone is willing to mentor you - to develop you, personally. Work in a place where you can gain a proper graduate placement once you obtain your qualification. Save your money . The cost of living once you graduated will be high. Think in terms of cost of purchasing a house, cost of wedding and (sooner than you will realise) cost of family (wife, parents and child, and later, children's education cost). Invest in shares. And reinvest the dividend s. If you have a bit more money, invest in property. Buy an investment property that will p...

1. Know exactly all of your expenses . List all of your expenses - write all of them down to the specific and exact details. Know exactly the following detail about your expenses: i). What are they? Gas bill, electricity bill, water bill,  hot water bill, food or grocery bill, home phone & internet bill,  mobile phone bill, private health insurance bill, public transport tickets, fuel costs, car insurance bill, home insurance bills (building & content insurance, or renter's insurance), rent or mortgage payment, council rates, body corporate rates, socialising and  entertainment expenses, etc. ii). Know when are they due, to the exact date or if not possible, to the exact period. For example, I know exactly that my mobile phone will be due on every 25th of the month, my private health insurance will be due on exactly every 1st of the month. For my annual home insurance bill, annual car registration cost and annual landlord's insurance bills, I k...

How to save money at Shopping time (Normal) People will definitely judge you based on how you look, and how you dress. If you want to move up the career ladder, you will definitely need to know how to dress the part. It cannot be ignored. It is just a fact of life. An IT geek will be dressing like a typical IT geek. A financier will definitely need to dress like a financier. The cost of the clothes, is something you can control. Plan your shopping, need to know exactly what you need. And see if you can make do with what you already have at home. Consider: shop second hand clothes, re-assignment clothes, or swap clothes. Also, consider selling your very well taken care of pre-loved items, to fund your next purchases. Shop during year-end or mid-year. Shop around for staff’s discount, credit card reward, cash back reward. See if you can pay using gift card, normally gift card are sold @ discounted rate during year-end or mid-year. Buy good quality items on essent...