Financial mission: single, having the time of your life, and filling up the piggybank
Tod’s loafers, the Lana Del Rey bag, the Marni for H&M collection – the list goes on. As a single woman, the tendency to splurge is stronger, as most of us do not have that much financial commitments. Just look at it this way – while some provide for parents and family members, some others have only themselves to fund.
To avoid a remake of ‘Two Broke Girls’ – we tell you how to be a smart single woman who is all ready for rainy days!
1. Be a creative shopper
Stack up on staple pieces from trustworthy brands. When it comes to trends, lead your way to economical finds. Mix the classic staple pieces and match them with trendy pieces and voila, never again will you splurge on things you will only wear for a couple of months.
2. Set a monthly target, and make it visible
If you are planning to save RM500 per month, print out the amount on a bright neon pink paper and stick it around the house as a constant reminder.
3. Shop at the end of every month
It is a common behaviour to shop half of your monthly salary on the first few days after the payday. It is destructive and you know it. Manage your financial state better, save, and whatever is left after all dues are paid – that is your real shopping budget.
4. Cook at least once a week
2 to 3 meals a day could cost you a bomb when you add them up. For breakfast, stock up on oatmeal or muesli and yoghurt so you save one meal budget a day. On the weekend, make some effort to cook your dishes. Besides saving money, you take stock on health too! Talk about killing two birds with one stone.
5. Schedule your outings, social butterfly!
Lots of women, at the end of the month, realize they have spent too much on drinks and high tea – they have zero money and no concrete goods. Having some fun out with your girls is a must-do to ensure a stress-free you. However, put aside a ‘social butterfly’ monthly allowance so from there, you can budget your outings.
6. Reward yourself
If you like fancy nail art or such little rewards, do it every time you hit a monthly target. Pat yourself on the back and tell yourself that you have done a good job, then splurge wisely.
7. Posses only one credit card
Remember Becky Bloomwood from Confessions of a Shopaholic? Well, you won’t wanna end up like her. Have only one credit card and set the limit according to your personal financial situation.
8. Keep an achievement record
Rate and grade yourself monthly on this savings program. When you achieve it, relive the feeling which is akin to when you make it to the top 10 of the class back in the school days.
9. Buy something concrete every 3 months
If you have been eyeing the sleek white smartphone, or new sofa for your pretty home – you shall grant your own wish every 3 months. That way, you would still have stable savings and see something concrete before your eyes to ensure that your effort is worth it.
10. Have a “5 ringgit jar”
Every time you get a 5 ringgit note from change, put it aside and slip it into a jar. You are now saving without realizing! We call it effortless saving. You’d be surprised how much it adds up to. A friend I know then spends it on holidays or emergencies when it adds up.