How’s Your Money Accounts In 2013? Welcome To 2014!

Goodbye 2013 and welcome to 2014! I hope you have enjoyed good health, planned well and increased your overall wealth in 2013! If 2013 had not been kind to you in any areas… the past is over and the new year is here… so you might just want to forget whatever has happened in the past and focus whatever you need to do in 2014!

As usual, I would like to provide some kind reminders to you with regards to your physical and financial wealth (since this is still a Financial Education and Insurance Blog) and if you think you are ready to absorb what I have to say… just continue to read on!

Reminder #1 – Why Are You Still Saving All Of Your Money In Your Local Bank Account?

Have you checked your latest savings account statement and add up all those interests that the banks are giving to you (the rate does not really increase despite the fact that most banks are still making really good profits)?

If you feel that it’s really miserable (add to the pain and ask yourself whether these interests will be able to buy you anything significantly) and you have done your part in setting aside an Emergency Fund (which is around 6 months to a year of your annual income)…  my suggestion to you is to look outside your Local Bank Account and explore other alternatives.

Alternatives may include:

  1. Monthly Savings Plan with your Bank (savings account with restricted access or those that buy into Blue Chip Stocks or ETFs) or with those Fund Investing Platforms (investing into Unit Trusts)
  2. Save through Fixed Deposit Plans or take over those Traded / Resale Endowment Policies (read more about it here)
  3. Save through those Regular Endowment Plans
  4. Go into Investment (Stocks, Properties or other Options – Risk is definitely higher so you may want to invest into your own Knowledge as well)

Reminder #2 – Are You Still Very Much Healthier Than Before?

Do you find yourself getting sick easily (I know I am especially with the growing population and crowded trains)? If you are getting sick easily nowadays… it’s time to pay attention to this particular area and do something about it.

You can certainly go for:

  • A Healthier Diet – More Greens, Less Fatty Meat
  • Take on an Exercise Regime – Gym or Regular Runs
  • Look out for your Stress Levels
  • Regular Health Checks

You must remember that medical cost is still going higher and if you have yet to plan for any Medical Insurance for yourself… any confirmed diagnosis may reduce the chance of applying for standard premium rate or even approval.

If you have that little spare energy left… you can keep a lookout for your aging parents and even siblings and nag at them to remind them to take care of their health!

Reminder #3 – Are You Still Spending More Than You Save?

It is quite a common sight to see many people who spend more than they save because of the need for some Retail Therapies! Especially with Singapore being a place where you can get almost all the latest Gadgets… you just need to spend and get them the moment they are released!

Remember that you have your own Retirement or expensive Dreams (e.g. Wedding, Residential Property) to plan for… so put aside a little more savings this year will still help!

One small way that I found that can help you to save a little is to go everything digital. For example, those regular health magazine and books that I always buy on impulse? I go digital with them… Digital Magazines and eBooks can really save you up to 50% off the Retail Price (add more to that when you have some Discount Coupons)!

Reminder #4 – Have You Completed Taken Care Of Your Financial Planning?

I know of many friends who will keep postponing their financial reviews or delay signing on the dot for insurance policies and the coverage that they really needed because of simple excuses like “I would like to wait for my year end bonuses” or “I have a major purchase to take care of so this have to wait“…

If this is what you have been doing… and you know that you need to get yourself covered… put everything aside in this month and get it done! You know that you really need to get this done yesterday and not today or tomorrow!

Reminder #5 – Have You Remembered To Do Good For Someone Else?

If you manage to visit this blog post (thank you for your time!) or be able to enjoy online shopping – be it on a Laptop or on a Mobile Device… this is a kind of blessing and luxury which many people may not have! Therefore I believe in giving back! Spread a little kindness (and complain less on Facebook), donate some spare changes (you can do so safely over at GiveAsia.org) or just volunteer your time to help someone in need!

Reminder #6 – Please Spend A Little More Time With Your Family

I posted something about spending a little more time with your family (read it here), less on work and I think it’s a good reminder to start with in the beginning of the year! You must remember that though work (and earning money) is important but there’s always your family members to spend a little more time with! It’s good to have as much fond memories than to live with regrets that work has taken your life away!

Are These Reminders Good Enough To Jump Start Your 2014?

I think 6 reminders should be good enough to jump start this year! If you have other good reminders that you would like to share, please feel free to do so by dropping your comments below! Please kindly ‘like’ if you feel that this is a good post as well (Thank You)!

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