Living in your 20s might mean many things. The first one is making the most of everything you have, such as swiping your credit card endlessly or going to parties because let us face it, those things give us a sense of excitement. On the other hand, you are old enough to have a few financial obligations and responsibilities but also too young to stress yourself over them. In short, taking online loans in Singapore and other financial schemes might be the rabbit hole you wish to avoid.
I want to help people, so here are some tips that made me build healthy money habits during this age. No worries because I will never tell you to stop having fun.
#1: LIVE WITHIN YOUR MEANS
Regardless if you are a privileged soul with assets and generational wealth at your disposal or someone trying to make it in the city, always remember to live within your means. It does not mean depriving yourself of simple joys and other things that make you happy. Instead, if considering an urgent cash loan in Singapore, for example, make sure it is for emergencies and essential needs, not for keeping up with people who are richer than you or trying to impress someone. Personally, I knew having a healthy balance between responsibility and indulgence was the best solution, and you should follow suit.
#2: TRUST REPUTABLE FINANCIAL INSTITUTIONS
Aside from keeping your finances in check, avoiding rabbit holes with no way out, and living beyond your means, choose reputable financial institutions that can help you reach your financial goals and make everything smoother. Why? They have the skills and expertise. You are also sure of their safety in handling your money. It can be a licensed money lender in Singapore if you need to go this route or a bank with stable finances and impeccable customer service.
#3: BUILD AN EMERGENCY FUND
Nothing is better than waking up in the morning with a feeling of security or the idea that you have protection against rainy days. There is no need to pressure yourself to become a millionaire at a particular age or have a net worth equivalent to your successful parents or peers. Instead, start with a feasible goal, face your finances wisely, and be responsible with what you do. The things I did during my 20s were settling my personal loan obligations in Singapore on or before the deadline or anything that did not give me a headache.
#4: DO NOT BEAT YOURSELF UP
There are days when you feel behind or pressured to make ends meet because you have undergone a challenging chapter in your life. Sure, you wish to build your emergency fund or preserve its value to protect yourself against problems. However, there is no need to beat yourself up when you make mistakes or go lower than your desired number in your savings account. Why? No one is perfect, and even the most financially-responsible person might need to contact a money lender in Singapore to pay something off. That’s what I did to avoid misery, and you should too.
These are the habits I built during my 20s to avoid incurring debt or having an unhealthy relationship with my finances. If you need anything, visit Monetium Credit (S) because they can help you with an urgent cash loan or something else in mind.