Need advice on debt

[lovestarrie]

Hi Lovestarrie,

When you’re not sure about how your money was spent as u described, it is likely that you’ve never done a budget.

You can try the “zero based budget” system. It works well for 1st timers.

1) Write your salary on a piece of paper (Nett off CPF).
2) Write down EVERY single monthly expense.(Insurance, SingTel, SP, sundries, food, dog food, dog grooming, entertainment, renovation saving, retirement saving, normal savings, etc, etc......)

1-2 MUST equal $0

By doing this, you’re finding a PURPOSE for every single dollar u make.

For a start, you can use the envelope system for everything or just items u tend to overspend:

https://m.youtube.com/watch?v=JGql_e86eDY

You’ll be very aware of your finances by doing this and never get into debt again!

Good luck.

Thank you so much. I appreciate your help and advices.

 

[ELKYme]

You’re welcome & have a great weekend!

Thank you so much. I appreciate your help and advices.

 

[harky]

i also got dog lor....
Dog is not ex. Their food also ok ba. The most ex is their vet bill.
i try to eat only $10 per day, after paying all bill. All $$ go into saving.. (Save for my dog vet bill in future, he is going to 12yr old.)


so u not euff thn u just go borrow... hmmmmm

It comes down to not being able to manage my finance, and i think spending excessively? I dont gamble,dont buy branded. I think i spend alot of my dog, food and whatsoever. I keep feeling i do not have enough. I dont know why.

 

[sp33d33]

Hi all, If you are facing with any installments or debt issues with the moneylenders, please approach Blessed Grace Social Services. They are able to help you restructure your loans.

 

[Hopeful85]

May i know gow is the restructure like? I have 16k debt haiz. Pls help urgently