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The complete list of 159 legal money lenders operating in Singapore that’s verified by Ministry of Law (1st April 2018).

i-Credit is listed number 77 in the list.

We are open from Monday to Friday: 11am to 8pm. Saturday to Sunday: 11am to 4pm. Closed on Public Holidays.

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We treat every customers with respect and do our best to help you.

If you are interested to enquire about loan. Do click the button below, fill your details in the form, and we will get back to you within a business day.


S/No.Business NameBusiness AddressLicense No.Website URL
1101 Credit Pte. Ltd.101, Upper Cross Street, #01-24, People's Park Centre, Singapore 05835740/2018
21133 Moneylenders Pte. Ltd.262, Balestier Road, #01-02, Okio, Singapore 329714115/2017
31st Capital Pte. Ltd.304, Orchard Road, #04-01, Lucky Plaza, Singapore 2388635/2018
41st Credit SG Pte. Ltd.149, Rochor Road,
#01-07, Fu Lu Shou Complex, Singapore 188425
51st LG Credit Pte. Ltd.304, Orchard Road, #02-29, Lucky Plaza, Singapore 23886386/2017
6365 Credit Solutions Pte Ltd14, Scotts Road, #03-64, Far East Plaza, Singapore 22821322/2018
796 Credit 883, North Bridge Road,
#01-13, Southbank, Singapore 198785
8A1 Credit2 Havelock Road, #02-08, Havelock2, Singapore 059763
9ABI Credit Pte Ltd185, Toa Payoh Central, #01-320, Singapore 31018527/2018
10ABK Leasing13, North Bridge Road, #01-3984,
Singapore 190013
11ABM Creditz1, Park Road, #01-12, People's Park Complex, Singapore 059108171/2017
12Advance Cash Credit Pte. Ltd.304, Orchard Road, #04-12/13, Lucky Plaza, Singapore 23886383/2017
13Advance Planners Credit220, Orchard Road, #01-08, Midpoint Orchard, Singapore 238852
14Aero Credit Pte. Ltd.810, Geylang Road, #02-15, City Plaza, Singapore 40928693/2017
15AK Credit Corporation Pte. Ltd.2, Havelock Road, #01-16, Havelock2, Singapore 059763165/2017
16AKB Moneylenders150, Lorong 1 Toa Payoh, #01-999, Singapore 3101504/2018
17Alles Autos Credit Pte. Ltd.133, New Bridge Road, #01-34, Chinatown Point, Singapore 059413116/2017
18Alpha 8 CreditBlk 449, Clementi Avenue,
#01-265, (2nd floor only), Singapore 120449
19Andal Enterprise87, Bukit Timah Road, 87C Tan Kong Tien Building, Singapore 22983492/2017
20AR.T. Firm Money Lender238A, Serangoon Road, Singapore 218084117/2017
21Avis Credit185, Toa Payoh Central, #01-344, Singapore 31018545/2018
22Ban King Credit(S) Pte. Ltd.705, Ang Mo Kio Avenue 8, #01-2563, Singapore 56070579/2017
23Best Credit SG Pte. Ltd.372, Bukit Batok Street 31, #01-374, (level 2), Singapore 650372135/2017
24Bliss Credit Pte. Ltd.11, Collyer Quay, #03-24, The Arcade, Singapore 049317152/2017
25BST Credit Pte. Ltd.801, French Road, #02-33, Singapore 200801153/2017
26BTB Creditz Pte. Ltd.810, Geylang Road, #01-05/14, City Plaza, Singapore 409286114/2017
27Bugis Credit Pte Ltd470, North Bridge Road, #02-12, Bugis CUBE, Singapore 18873537/2018
28Capital Funds Investments65, Ubi Crescent, #03-03, Hola Centre,
Singapore 408559
29Cash Check Singapore Pte. Ltd.726, Ang Mo Kio Avenue 6, #01-4166,
Singapore 560726
30Cash Direct1187, Upper Serangoon Road, #01-16, The Midtown, Singapore 4092863/2018
31Cash Mart Pte Ltd277, Balestier Road, Singapore 329726186/2017
32Cashmax Credit Pte. Ltd.810, Geylang Road, #01-56, City Plaza,
Singapore 409286
33Crawfort Pte. Ltd.1, North Bridge Road, #01-35, High Street Centre,
Singapore 179094
34Credit 21 Pte. Ltd.10, Anson Road, #01-07, International Plaza, Singapore 07990351/2018
35Credit 89200, Jalan Sultan, #04-21B, Textile Centre, Singapore 19901826/2018
36Credit Assist Pte. Ltd.101, Upper Cross Street, #01-15, People's Park Centre, Singapore 05835723/2018
37Credit Empire Enterprise Pte. Ltd.390, Victoria Street, #01-36, The Golden Landmark, Singapore 18806154/2018
38Credit Excel Capital Pte. Ltd.192, Waterloo Street, #05-04, Sky Line Building, Singapore 187966118/2017
39Credit Hub Capital Pte. Ltd.190, Middle Road, #10-01A, Fortune Centre, Singapore 188979136/2017
40Credit King Pte. Ltd.101, Upper Cross Street, #01-27, (part)& #B1-49 People's Park Centre, Singapore 05835750/2018
41Credit Matters Pte. Ltd.1, Park Road, #01-23, People's Park complex, Singapore 05910891/2017
42Credit Thirty3 Pte. Ltd.801, French Road, #02-33, Singapore 2008012/2018
43Credit Xtra Pte. Ltd.1, Sophia Road, #01-11/12, Peace Centre, Singapore 228149103/2017
44Creditmaster Pte. Ltd.1, Park Road, #01-50, People's Park Complex, Singapore 05910844/2018
45CYS Credit Private Limited5001, Beach Road, #03-32A, Golden Mile complex, Singapore 19958887/2017
46Dalip Singh & Company3, Coleman Street, #04-32, Peninsula Shopping Centre, Singapore 179804109/2017
47DIO Credit Pte Ltd801, French Road, #02-33, Singapore 200801161/2017
48Dynamic Money Lenders10, Admiralty Street, #02-90, North Link Building, Singapore 757695137/2017
49Elite Investment & Credit Pte. Ltd.799, Geylang Road, #01-01, Singapore 38968085/2017
50Empire Global Pte Ltd513, Bishan Street 13, #01-514, Singapore 57051353/2018
51Emvertex Credit (SG) Pte. Ltd.200, Jalan Sultan, #02-33, Textile Centre, Singapore 199018154/2017
52Ethoz Protect Pte. Ltd.30, Bukit Batok Crescent, Singapore 658075178/2017
53Excel Credit (Pte.) Ltd.Blk 449, Clementi Avenue 3, #01-241, (plot B), Singapore 12044912/2018
54EZ Loan Pte. Ltd.i: 3, Beach Road, #01-4853, Beach Road Gardens, Singapore 190003

ii: 1, Tanjong Pagar Plaza, #02-09,
Singapore 082001
55EZ Pte. Ltd.765, Geylang Road, Singapore 38966329/2018
56Fast Money Pte. Ltd.i: 101, Yishun Avenue 5, #01-39, Singapore 760101

ii: 505, Tampines Central 1, #01-341, Singapore 520505
57Fong Chin Capital Pte. Ltd.129, Bedok North Street 2, #01-42,
Singapore 460129
58Fortune Credit Pte. Ltd.470, North Bridge Road, #02-06, Bugis Cube, Singapore 18873542/2018
59G Credit441A, Clementi Avenue 3, #01-01, Clementi Towers, Singapore 12144117/2018
60G3 Credit2, Havelock Road, #01-21, Havelock2, Singapore 059763176/2017
61Gain Credit Pte. Ltd.807, Yishun Ring Road, #01-4197,
Singapore 760807
62Galaxy Credit and Investments Pte Ltd709, Ang Mo Kio Avenue 8, #01-2595,
Singapore 560709
63GM Creditz Pte. Ltd.111, North Bridge Road, #01-35, Peninsula Plaza, Singapore 179098108/2017
64Gold Allianze Capital Private Limited185, Toa Payoh Central, #01-346,
Singapore 310185
65Golden Credit (S) Pte. Ltd.101, Upper Cross Street, #01-05F, People's Park Centre, Singapore 05835749/2018
66Goldstar Credit Pte. Ltd.i: 1187, Upper Serangoon Road, #01-21, The Midtown, Singapore 533971

ii: 183, Toa Payoh Central, #01-254, Singapore 310183
67GS Credit Pte. Ltd.1, Gateway Drive, #06-08, Westgate, Singapore 608531120/2017
68GT Credit Pte. Ltd.178, Toa Payoh Central, #01-202, Singapore 31017814/2018
69GV Credit Pte Ltd101, Joo Chiat Road, GV Building,
Singapore 427395
70Happy Cash Pte. Ltd.465, North Bridge Road, #01-5083, Singapore 19146532/2018
71Hersing Credit Pte Ltd450, Lorong 6 Toa Payoh, #03-01, Hersing Centre, Singapore 319394121/2017
72HHL Credit Pte. Ltd.77, Kampong Bahru Road, #02-02,
Singapore 169376
73HMS Moneylenders189, Selegie Road, #B1-11, Selegie Centre, Singapore 18833278/2017
74Horison1, Park Road, #01-15, People's Park Complex, Singapore 05908105/2017
75Hua Yang Credit Pte Ltd159, Sin Ming Road, #01-03, Amtech Building, Singapore 188504140/2017
76Hup Hoe Credit Pte. Ltd.1, Rochor Canal Road, #01-01, Sim Lim Square, Singapore 188504110/2017
77I-Credit Pte. Ltd.82, Lorong 23 Geylang, #05-02, Atrix, Singapore 388409111/2017
78IP Credit Pte. Ltd.185, Toa Payoh Central, #01-332, Singapore 31018599/2017
79JD Credit Pte. Ltd.531, Upper Cross Street, #01-38, Hong Lim complex, Singapore 05053148/2018
80Jefflee Credit Pte. Ltd.131, Jurong Gateway Road, #01-261, Singapore 600131122/2017
81JML Credit756, Upper Serangoon Road, #04-13, Upper Serangoon Shopping Centre,
Singapore 534626
82JNB Creditz175, Bencoolen Street, #01-25, Burlington Square, Singapore 189649182/2017
83Jothi Moneylender5001, Beach Road, #07-63, Golden Mile Complex, Singapore 199588184/2017
84JR Credit (S) Pte. Ltd.304, Orchard Road, #02-14, Lucky Plaza, Singapore 23886338/2018
85Kairon Services111, North Bridge Road, #05-15A, Peninsula Plaza, Singapore 17909852/2018
86Karthik Money Lending238A, Serangoon Road, Singapore 218085107/2017
87Katong Credit Pte. Ltd.304, Orchard Road, #02-30/31, Lucky Plaza, Singapore 23886315/2018
88KBB Credit279, Balestier Road, #02-28, Balestier Point, Singapore 32972775/2017
89Khalon & Gill Moneylenders Pte. Ltd.1, North Bridge Road, #B1-25-A, High Street Centre, Singapore 179094162/2017
90Kim Eng Finance (Singapore) Pte Ltd50, North Canal Road, #03-01, Singapore 059304100/2017
91KR RM Ramasamy Pte. Ltd.238A, Serangoon Road, Singapore 218085167/2017
92KST Credit220, Orchard Road, #01-01, Midpoint Orchard, Singapore 238852166/2017
93Lian Fong Credit & Trading (Pte) Ltd96, Jalan Jurong Kechil,Singapore 598599155/2017
94Magnus Credit Pte. Ltd.35, Selegie Road, #05-25, Parklane Shopping mall, Singapore 18830735/2018
95Majestic Credit Pte. Ltd.101, Upper Cross Street, #01-26B/G, People's Park Centre, Singapore 0583577/2018
96Max Credit Pte. Ltd.1, Sophia Road, #01-15, Peace Centre, Singapore 228149102/2017
97MM Credit Pte. Ltd.217, Bedok North Street 1, #01-63, Singapore 4602176/2018
98Monetium Credit (S) Pte. Ltd.220, Orchard Road, #01-10, Midpoint Orchard, Singapore 238852179/2017
99Money Express Pte Ltd10, Jalan Besar, #01-01, Sim Lim Tower, Singapore 20878718/2018
100Motor-Way Credit Pte Ltd1094, Lower Delta Road, Motorway Building, Singapore 169205123/2017
101MWA Capital Pte. Ltd.3, Phillip Street, #13-01, Royal Group Building, Singapore 048693141/2017
102New ERA Credit50, East Coast Road, #02-58, Roxy Square, Singapore 428769156/2017
103Oasis Credit442, Clementi Avenue 3, #01-87, Singapore 120442157/2017
104On Line Credit Pte LtdBlk 210, New Upper Changi Road, #01-731, (half portion only), Singapore 46021033/2018
105Orange Credit Pte. Ltd.810, Geylang Road, #01-91, City Plaza,
Singapore 409286
106Outer Trust Credit Services135, Jurong Gateway Road, #01-323,
Singapore 600135
107P Lakshmi Firm77, High Street, #09-15, High Street Plaza, Singapore 179433158/2017
108Pardeep Moneylenders77, High Street, #06-14, High Street Plaza, Singapore 17943325/2018
109Phillip Credit Pte. Ltd.250, North Bridge Road, #06-00, Raffles City Tower, Singapore 179101125/2017
110Pit-Stop Credit200, Jalan Sultan, #02-27A, Textile Centre, Singapore 19901895/2017
111Platinum Credit Pte Ltd1, Coleman Street, #01-11, The Adelphi, Singapore 179803147/2017
112Power Credit Enterprise Pte. Ltd.1, Tras link, #01-11, Orchid Hotel, Singapore 078867163/2017
113PR Veerappa Chettiar77, High Street, #09-15, High Street Plaza, Singapore 1794333/2018
114Prime Motor & Leasing Pte. Ltd.61, Ubi Avenue 2, #01-03, Automobile Megamart, Singapore 408898151/2017
115Prosper Credit Pte. Ltd.186, Toa Payoh Central, #01-420, Singapore 310186101/2017
116Quick Credit Pte Ltd2, Jurong East Street 21, #04-01A, IMM Building, Singapore 60960139/2018
117Quick Loan 10110, Anson Road, #01-15, International Plaza, Singapore 079903159/2017
118QV Credit Pte. Ltd.175A, Bencoolen Street, #11-08, Burlington Square, Singapore 18965089/2017
119R2D Credit Pte. Ltd.Blk 846, Yishun Ring Road, #01-3661, Singapore 76084619/2018
120Radeep Moneylender77, High Street, #04-06, High Street Plaza, Singapore 179433142/2017
121Riverbank Financials Pte Ltd228, Changi Road, #B1-12, Icon@changi, Singapore 419741144/2017
122RM. Renganathan moneylender29A, Upper Dickson Road, Singapore 20748847/2018
123RML Credit 2, Havelock Road, #01-17, Havelock2, Singapore 05976310/2018
124RTG Credit (S) Pte. Ltd.175, Bencoolen Street, #01-02, Burlington Square, Singapore 189649181/2017
125S G Credit Pte Ltd304, Orchard Road, #02-98, Lucky Plaza, Singapore 23886398/2017
126S.E. Investment Pte. Ltd.135, Jurong Gateway Road, #01-335, Singapore 600135164/2017
127S.P. Moneylender43A, Campbell Lane, 2nd Floor, Singapore 20991584/2017
128S21 Credit704, Ang Mio Kio Avenue 8, #01-2545, Singapore 560704106/2017
129Sands Credit Pte. Ltd.711, Ang Mo Kio Avenue 8, #01-3501A, Singapore 560711143/2017
130SGP Credit133, Jurong Gateway Road, #01-299, Singapore 60013334/2018
131Shanmugan Moneylender10, Jalan Besar, #13-05A, Sim Lim Tower, Singapore 208787126/2017
132Sighappi Achi Moneylender25, Norris Road, 2nd Floor, Singapore 20826743/2018
133Sincere Moneylender Pte. Ltd.13, Jalan Besar, ( level 1 only), Singapore 208789104/2017
134Singa Credit Pte Ltd470, North Bridge Road, #02-01, Bugis Cube, Singapore 188735145/2017
135SKM Credit Pte. Ltd.185, Toa Payoh Central, #01-334, Singapore 31018524/2018
136SME Care Pte. Ltd.5, Jalan Kilang Barat, #07-02, Petro Centre, Singapore 159349127/2017
137Soon Seng Moneylender711, Ang Mo Kio Avenue 8, #01-3501A,
Singapore 560711
138Su Credit Pte. Ltd.175, Bencoolen Street, #01-36, BURLINGTON Square, Singapore 189649128/2017
139Sumo Credit Pte. Ltd.190, Middle Road, #02-06, Fortune Centre, Singapore 1889799/2018
140Swift Credit Pte. Ltd.1, Sophia Road, #01-37, Peace Centre, Singapore 228149177/2017
141Synergy Credit Pte. Ltd.140, Upper Bukit Timah Road, #02-18, Beauty World Plaza, Singapore 588176180/2017
142Tan & Jiang Enterprise Pte. Ltd.201D, Tampines Street 21, #03-1157, Singapore 52420116/2018
143The Moneylenders Pte. Ltd.7A, Tech Park Crescent, Singapore 637839149/2017
144TK Moneylenders43A, Campbell Lane, 2nd Floor, Singapore 20991536/2018
145Tradition Credit Co Pte Ltd
810, Geylang Road, #02-79, City Plaza, Singapore 409286160/2017
146Trillion Credit Solutions Pte. Ltd.i:77B, Attic Tanjong Pagar Road, Singapore 088498

ii: 304 , Orchard Road, #02-12, Singapore 238863
147Tur Mohar Money Lending5001, Beach Road, #07-39, Golden Mile Complex, Singapore 19958888/2017
148U Credit (Pte.) Ltd180 Bencoolen Street, #01-19 Singapore 189646183/2017
149UK Credit210, New Upper Changi Road, #01-723, Singapore 46021021/2018
150Unilink Credit Pte. Ltd.35, Selegie Road, #10-27, Parklane Shopping Mall, Singapore 188307168/2017
151Uniqcash Pte. Ltd.7A, Trengganu Street, Singapore 05846141/2018
152United Credit Pte Ltd186, Toa Payoh Central, #01-410, (2nd Floor), Singapore 31018681/2017
153Unlimited Finance Pte. Ltd.162, Bukit Merah Central, #01-3541,
Singapore 150162
154Vera Capital Pte. Ltd. 10, Kaki Bukit Avenue 4, #05-65, Premier @ Kaki Bukit, Singapore 415874173/2017
155VM Credit Pte. Ltd.261, Waterloo Street, #01-31, Waterloo Centre, Singapore 180261131/2017
156Wah Leong Company (Private) Limited339, Jalan Besar, Singapore 2089841/2018
157Winz Credit Pte. Ltd.i: 153, Serangoon North Avenue
1, #01-530, Singapore 550153

ii: 124, Lorong 1 Toa Payoh, #01-467, Singapore 310124
158(*** Suspended Moneylender
***) AP Credit
10, Anson Road, #01-38A, International Plaza, Singapore 07990331/2018 ( *** Suspended Till 12/09/2018 ***)
159(*** Suspended Moneylender
***) HSX Credit
5001, Beach Road, #06-47, Golden MileComplex, Singapore 19958880/2017 ( *** Suspended Till 19/04/2018 ***)

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University Tuition Fees Guide Banner

If you are looking to find the tuition fees of top universities in the world, you are in the right place!

We have consolidated the latest fees of all top 100 universities based on the QS world university rankings.

You can filter out the ones that you are interested in based on the country and subjects the university is well know for.

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17 Cost Saving Ideas for Small Businesses

The smart way to reduce costs – As a small business owner you understand that it is so important to watch every penny; that means implementing a number of cost saving strategies to save money across all business areas from finance through to sales, marketing and general business but without compromising on the quality of products or services.

Perhaps you have just received a report from your accountant or maybe you have noticed that your business running costs are increasing year on year, this comprehensive guide will help you bring your finances back under control.

It is important to reduce waste and make savings in the right areas so your business doesn’t suffer.

Businesses cannot flourish if they are not operating as efficiently as they should be. Reducing what you spend and targeting resources more effectively can help you to push that growth initiative, upgrade your website or purchase a new piece of equipment that you need to remain competitive.

In recent years, the business landscape and wider economy has been uncertain so businesses are even more cautious about investing or making any financial decisions. Consequently businesses are looking at where money can be saved so that they can survive in a more competitive marketplace.

The introduction of the Internet, increasing rents and rising utility bills are just some of the reasons why businesses need to look at all areas of their business to make cost savings.

This unique guide will offer you 17 great ways to save money; from energy saving tips through to contract negotiations, this practical and informative guide will show how you can save money.

17 Cost Saving Ideas for Small Businesses

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Reduce Energy Costs

Although energy consumption is not necessarily at the forefront of a managers cost reduction strategy, there are simple techniques that you can promote in the workplace to reduce energy and generate savings in utility bills.

The purchase of a smart temperate control can regulate temperatures so the room is only heated when it needs to be.

Encourage employees to switch off computers and lights at the end of the day and install new energy efficient bulbs.

Save on Travel Expenses.

Checking a number of websites to get the best deals for travel and accommodation may take time, but it can result in significant cost savings. You don’t fly first class if you want to keep your expenditure for business travel expenses as low as possible.

Uber is a great tool for connecting individuals who need transport with taxi drivers.

Reduce your petrol costs by ensuring that company cars are energy efficient and look for cheaper ways to ravel such as train or coach.

Negotiate your Current Contracts

Small businesses require lots of resources to function. basic stationery items like paper, envelopes and pens can cost a fortune with some suppliers. Simply shopping around and sourcing cheaper suppliers can save money.

Carry out reviews thorough reviews of your suppliers using office management tools and finance packages to see how much you are spending.

Negotiate suppliers and check if you can find a more cost effective deal.

Outsource Some Tasks

Outsourcing on-board for certain tasks. Rather then employing a full time copywriter for example, you can outsource this work to a freelancer when you are updating your marketing material or website.

Freelance websites such as PeoplePerHour and Upwork are places where you can find curated talent across a number of disciplines from design through to administrative support.

Use the available freelance website to source freelancers with the skills that you need. If you find a great freelancer along the way you can continue to use them for future projects which will save you time and money in the long term.

We use Ascelade to build our website and SEO services. You might want to consider them.

Have fewer Meetings

Meeting can be both resources and time intensive eating up valuable hours in your working day. Not only this, if you don’t have meeting facilities at your place of work you may be spending a lot of money on hiring venues and offering hospitality, all of which can put a dent in your budget.

Softwares such as GoToMeeting or Join.Me enable participants to share screens and documents. Free tools such as Skype are also helpful.

Reduce face to face meetings as much as possible: arrange face to face meetings twice monthly and then hold the other meetings in between using collaborative technologies or free video calling and conferencing software.

Work Remotely

There is no doubt that office space costs money. With more and more businesses operating online, why not develop a virtual team? Not only will you save money on utility bills, you will also make significant cost savings on rent for your office space or building.

Project based software such as Basecamp or Go To Assist allow businesses to collaborate and set up schedules and to do lists for each member of the team. A central notice board or stream can be established so that all remote workers can log in and check progress.

Installing collaborative technology software can facilitate day to day business operations.

Switch to Cheaper Software

Some software options cost businesses thousands of dollars. There are many software tools which are very similar but much cheaper.

Web design software is very expensive, so is accounting software. Opt for cheaper versions provided that they offer the functionality that you need.

Research available options for software for example make simple switches to desktop publishing software or accounting programs.

Utilise Interns

Interns or apprentices can be excellent ways to support your business particularly during peak or busy periods.

Local training centres, colleges and universities may be an excellent place to begin.

Employ an intern or apprentice to carry out some of the more menial, time consuming tasks such as document checking, filing, processing and data input, freeing up time for your other more experienced staff to focus on other areas.

Hire Carefully

Recruitment is an essential process for any business but select wrong candidate and it could prove costly. Not only will you have to spend time and money training up a less skilled candidate but you may have to invest more time and resources in checking or correcting work.

There are a number of tools that can facilitate all aspects of the recruitment process from candidate and CV screening right through to online assessments and aptitude tests.

Ensure that you have a strong screening process in place and create accurate job descriptions so that you only invite the most qualified and experienced candidates for interview.

Rent Out Unneeded Space

If you currently own a building why not rent out spare floor space or desks to sole traders or freelancers who perhaps don’t need a permanent office space? If this is not something that you have considered before, you may be unaware of the demand for good quality office or desk space.

The internet is a great resources for advertising your spare office space along with the local media.

Rent out a small spaces like a spare desk in your office or if you have a large, expansive premises, you can rent out a whole unit or floor. This will create an ideal environment for sole traders or small businesses.

Use Project management Tools

Project management tools can be a great way to save time and resources enabling teams to break the project down into smaller tasks which can facilitate the distribution of workloads.

There are numerous project management tools including Trello, Capterra and Smart Sheet.

Increase effectiveness with time management, strengthen the planning and budgeting process with accurate project management monitoring tools.

Go Paperless

Businesses spend a lot of money on paper and ink for printing documents so more and more businesses are making the transition to paperless offices.

There are a number of tools that you can use to convert your paper documents into electronic versions or even remove paper from the office completely. Scanners, digital note taking applications such as Evernote, Intellinote project software or Adobe Reader for digitally signing documents.

Use the above pieces of software to scan and index documents into your company database system.

Buy Second Hand Equipment & Furniture

If you are hoping to fund your growing business, rather than purchasing new furniture seek out second hand desks, office chairs and other office furniture and equipment.

Websites such as Desk Stop, Want Don’t Want or Carousell enable business owners to buy and sell furniture.

Before purchasing new furniture check out local auctions trade magazines and use the internet to find suitable used furniture and equipment for a fraction of the price.

Share Services with Local Businesses

Sharing services across businesses can result in substantial cost savings. For example, businesses can share senior management knowledge or IT teams which can facilitate operations.

If you are a local business and have partnerships with others, seek advice as to whether there is the possibility of sharing services such as an IT department, HR or management function.

Get on the Cloud

Cloud based softwares can enable businesses to save costs in relation to server maintenance, power, software licensing and the expense associated with upgrading servers and equipment.

Sales Force, Cloudability and Cloud Cruiser are reliable cloud providers.

Initiate the transition to cloud based software selecting the most appropriate tools for your business.

Review Your Marketing Spend

Monitoring your finances is crucial and ensuring that your marketing expenditure is generating optimum return on investment is essential.

Finance software such as QuickBooks can help you see where your marketing budget is being invested.

Encourage your marketing team to think about the costs associated with different forms of marketing and where possible use free or low cost methods.

Switch to VoIP

Switching to VoIP technology can bring a number of benefits for your business, reducing costs on long distance calls and roaming charges as well as making use of Wi-Fi rather than network minutes.

Skype, Google Voice, Google Hangouts, OoVoo and Viber are tools that lots of small businesses are using too.

Where possible promote the use of VoIP amongst the workforce and you could even allow employees to bring their phones to work and work based calls can be made and received through the VoIP network.


There you go, all 17 cost saving ideas for your small business. Not all the ideas are suitable for your business. You may even need 1 or 2 ideas and it will save your business lots of money. I would suggest that you try them out in a small way before implementing it fully.

If you like these tips do share them to your social medias or even to mention it on your website or blog.

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Debt Consolidation Lower Interest RateToday, we are sharing about debt consolidation and the pros and cons you need to know.

There are plenty of people in Singapore who have amassed a significant amount of debt on their credit cards (source from Straits Times) and have accumulated overdue debt. A lot of them are presently in the process of gradually paying it off but the process is very slow. It is also not as if this loan payment is the only expense that they need to deal with – they have to make arrangement for meeting other similarly critical expenses (home loan, car loan, renovation loan, business loan, etc) as well.

The biggest problem is that all of these debts carry different rates of interest of repayment. This only makes it even harder to keep a track of expenses and control them in the long term.

At the present moment there are a number of credit unions in Singapore that are offering people a chance to avail debt consolidation loans. For people, likes the ones who have been talked above, such loans are like god-sent opportunities since they allow you to collate all your debts in a single loan and take away the unnecessary and incessant headaches.

With these loans you can pay off all your debtors and concentrate on paying just one loan in a month. However, there are a few things that need to be taken into consideration before these loans are availed.

The main idea behind taking loans is to reduce the rates of interest you are paying in order to pay the loan off. So, you need to make sure that you are achieving that with these loans. The idea of availing these loans can be rather tempting. After all, you can dispose off all your credit card bills.

You do not need to make many payments to different lenders. This is something that can get to your head. The road to being debt free is made much smoother by these loans. However, there are a lot of other things associated with these loans that may make the situation even worse later on.

If financial experts are to be believed these loans are nonsense in most situations. One can jolly well do without them! However, it is really difficult to ignore these loans considering the benefits that they offer. It is also important that you keep in mind the fact that these are after all financial products – not charitable offerings.

Companies will not be offering them if they did not have any profit to make out of them. You need to take into account the time period and interest rate of the loans you are paying and the debt consolidation loan you are considering. Once you do the calculation and compare both will you be able to take the right decision.

In certain cases you may be paying a smaller rate of interest with consolidation but the loan repayment term may be much longer. That would mean that in the end you are paying much more than what you would have done with your credit card or other present debts. So, it is better to concentrate on paying them off in a shorter period of time.

It is not rocket science. All it takes is some financially responsible and mature behaviour on your part and you may have paid off the debt much quicker than you can realize.

There are several ways in which you will be able to manage your debt in a much better way than taking the conventional options like a debt consolidation loan. In case you are experiencing issues with your cash flow the first thing that you need to do is to create a budget detailing your income as well as expenses. This will give you a better idea of things and you will be able to come to a decision regarding the expenses that could be cut off in order to save money.

In this instance you can delete expenses that are not necessary and ones you can always do without such as eating out and going to the theatres to watch the latest flicks. Keep this spirit of abstinence till the time you are financially sound and then you can start enjoying life again. This will also make sure that you do not face any undue problems with your debt payment. As a general rule of thumb, your debts should not be more than 35% of what you are earning in a month.

The lower your income, the lower should be your debt percentage. For this, you should review your debts on a regular basis. There should ideally be only one source from which you have taken debt. This way, you will less heads to worry about and you yourself will be in a far better position to monitor your debts. It is also important that you pay off all your installments at the time they are supposed to be paid and in the right amount as well.

This will make sure that you do not have to pay the penalty charges that only make the situation far worse than it already is for you. In case you are unable to do so, get in touch with your lender and ask for any help that may come your way. One way to pay off debt quickly is to increase the frequency of payments. The second way is to make lump sum payments as and when you are able to. Whenever you have some additional money, ask your lender if you can use it to pay off a part of the loan.

However, you need to ask your lender if by doing so you will incur any penalty or not. Also ask them if any advance notification needs to be provided for the purpose. In case you have a lot of debts to deal with you can also start off by paying ones that carry the higher rates of interest. Normally the credit card debts are ones with the highest rates of interest. Hence, it could be prudent to start off with them. In case you are unable to pay the whole amount in one go, pay as much as you are able to.

Do share with us what you think. If you have more questions or thinking of having a debt consolidating loan, do contact us here.

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Loan Questions To Ask Lender

What Loan Questions to Ask Lender?

There are many reasons as to why one might take loans. It could be to refinance an existing loan or even buy products that one would not be able to buy otherwise. However, before one takes a loan it is better to ask some important loan questions – these can be posed to the bank as well. The answers to these questions will help you determine the kind of loan that will be good for one and will suit one’s financial condition to the t. Quite often it is seen that people are not careful before they take a loan and only end up repenting it later on.

1) What is my Credit Score?

This is a very important factor to be taken in consideration before taking a loan or even applying for one. This will play a major role in whether you get the loan or not, and also the terms and conditions of repaying the same. Your expenses in the long term will also be dependent on your credit score to a significant extent. In case you have a low credit score you are always better off trying to improve it before you apply for a loan. You can do this by paying off the small debts and also correcting any mistakes in your credit report. If you make your payments on time it will be of great help as well.

2) Secured loan or not?

Before you take a loan you should always be sure regarding the nature of the loan – is it a secured loan or a non-secured loan? A secured loan is one where collateral is needed. You need to put up something against the loan. For example if it is a car loan or a house loan your car or house is the collateral. This means that if you are unable to pay the loan back the bank can take the asset away. Secured credit cards can also be called secured loans since in these cases there is a credit limit and you can only loan as much as you have in your account. Majority of the personal loans are not secured. Read more about “Difference Between Secured and Unsecured Loans“.

3) How’s the Process of Loan Application?

This is a rather important question as you need to know the amount of time it would be needed in order for the lender to approve the loan. You also need to be aware of the factors that will help you get approved for the loan. You should also know how much time the bank will take before it provides you the money you are looking for. In case of emergency loans this is an important criterion. iCredit will process your application within an hour and you will receive the loan. Talk to us for loan enquiries.

4) How do I land the loan?

You need to know what you have to do in order to be able to procure the loan. In certain cases basic information such as income statement and credit scores is enough. However, in some cases you may have to get copies of your bank statement or tax returns. This will prove the amount of assets at your disposal and the amount of money you are making every month.

5) How much is the Application Fee?

In order to start the loan or apply for the loan you may have to pay a fee. It is always better to know how much it is going to cost in this regard. With a proper comparison of various fees you would be in a better position to determine which one is economically more viable for you. This also helps when you make the said payment. Currently, our application fee is at $100.

6) What is the Rate of interest on Loan?

Interest rate is normally expressed by way of APR or annual percentage rate. However, this may not always be the case. With the help of the APR you will have a clear idea as to what your expenses are going to be, by way of paying your loan back. If your rate of interest is higher it means your payments will be bigger. Student loans and mortgage loans normally have rather high rates of interest – in the range of 4-6%. In case of loans taken on credit cards, the rate of repayment could go up to 10% or even more. At times, it might even be as high as 27%. Personal loans normally fall somewhere in between the aforementioned loans. However, a lot depends on your credit score. iCredit does not look much into your credit score and we provide 4% monthly interest rate for all our clients from 1st Oct 2015.

7) What is the Period of Repayment?

This is the time that you get to pay the loan back. In case your repayment period is on the shorter side your payments will be on the higher. This is because you are getting lesser time to pay the loan back. In case the period of repayment is longer the monthly payments are lower as well. In this instance you are getting a longer period for paying the loan back and the bank can afford to lower down the rates of interest. However, from an overall perspective, in case of a longer repayment period you are paying more than you would in a short period.

8) How much is the Pre-Payment Penalty?

In certain situations you may receive extra money from somewhere or you may be able to save some money from your monthly expenses. In such situations you might want to pay off your loan earlier than usual. In some cases lenders may penalize you for this. So, when you are taking the loan you should always find out if the loan carries any pre-payment penalty or not. That way, later on you will not incur any undue financial loss.

9) Any Limitations on using Loaned Money?

In some loans you may have to use the money you have loaned only for a definite purpose. Examples of such loans are the student loans, car loans, and mortgages. However, in case of personal loans you have the freedom of using the money exactly the way you want to. It is still better to ask before taking the loan to make sure if there is any restriction on using the loaned money.

10) What is the Default?

In certain cases it might so happen that you are not able to pay the loan installments or you may end up paying later than you are supposed to. So, you should always be aware of the fines and penalties that you may have to pay in such situations.

11) What is the Amount Needed to Set Aside?

This is something that one needs to be absolutely clear of before taking the loan. In case of businesses this question can be answered by coming up with a projection of the monthly cash flow of the company. This will include areas such as time taken by customers to make their payments and the time in which they themselves have to make their payments. It always makes a poor impression on the lender if the borrower does not know how much money he or she needs.

12) What Documentations are Needed to Apply for Loan?

It is common to see that a lot of loan applications never go far. This is not because of wont of qualification on part of the lender but because of problems related to documents provided by him or her or not provided by him or her. The situation gets even trickier in case of business loans or loans applied for by business entities. The paperwork involved is much more than what would happen in case of individual borrowers. It is always advisable to be fully prepared.

13) Any Loan Repayment in Case of Death?

These are things that one needs to be prepared for as it affects the near and dear ones. Majority of people think that in case they die before the loan is paid back there is nothing that the bank can do. However, that is farthest from truth. The banks always find a way to get back what is due to them. They can encroach on one’s savings. In case it is a secured loan they can jolly well take the asset away if they feel that is the best option.

14) Any Comparison with other Loans?

We can always go for personal loans instead of purpose-based loans such as car loans and mortgages. However, the question that we need to ask ourselves is will these loans cost more than the personal loans. The answer is no. More often than not, the specialized loans have lower rates of interest and they also provide more benefits than their personal cousins. In certain cases, where you already have taken a loan from a particular bank, if you apply for a specialized loan from them then you may get the interest waived off on it.

15) Did you Over-Leverage with Respect to Other Loans

You should never take another loan if you have already taken a personal loan in the space of three months. Normally personal loans dampen one’s chances of getting another loan. In certain cases it might so happen that you may have to take a specialized loan but you need to make the down payment as well, which will not be covered by the said loan. In that case you make the down payment with a personal loan and then apply for the specialized loan. However, the lender calculates your debt servicing ratio and finds it to be unacceptable. As such, the second application gets cancelled. Read “Using Credit Card to pay for any Loans is Suicidal!

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credit card to pay loan

It is true that our lives is a beautiful gift from the Almighty. However, at times life throws the most unexpected surprises. We may be caught by several difficulties together at one point of time in life. Some of the difficulties we face in life are closely related to our finances. We may run short of money and may be forced to borrow loans from different sectors, both organized as well as unorganized. Nevertheless, it should be kept in mind that even in times of immense difficulty it is not a good idea to lose our composure and end up taking any kind of erratic decision.

Experts are of the opinion that one of the worst practices to pay your loan back is the use of the credit card. In fact, the use of credit cards to clear of personal loans is nothing but exchanging one form of borrowing with other. There are several reasons due to which you should strictly stay away from the use of credit card to pay loan back to your debtors. One of the major reasons for this can be you getting trapped in two kinds of debts.

Untoward incidents in Life is another factor that you should consider before taking such a decision. Suppose you have used your credit card to pay off the monthly EMI of a personal loan. Due to some reason or the other in the next month if you run out of money on account of a medical emergency or economic recession you can well imagine the situation you will be in. You are liable to pay the monthly EMI of your personal loan and at the same time you are accountable for the credit card installment that you had used to pay the EMI. It is a situation where you have two debts to pay off and not a single penny in hand. It can lead to an immensely stressful and difficult situation.

When in life an individual faces such a situation in life, it can get really difficult to handle. In fact, it can lead to conditions of extreme depression. The depression can be so overpowering that it may even lead to suicidal deaths. Moreover, when you have a credit card to pay off loans you do not even worry about the consequences and go on spending as much as you want. As a result a time might come when the bill amount may become extremely high. Such situations can really make you crazy and put you in situation on which you do not have control.

So most of the financial experts are of the opinion that it is never a good idea to use a credit card to pay off your loans. Apparently it might seem that such an arrangement is an easier one, but in the long run you get to realize that using one kind of loan to repay the other does nothing but throws you into a deeper trap of loans. It may become difficult to get rid of such a situation. Hence, it is recommended to limit the use of your credit cards and also try to lower the payment limit of your credit card. This will ensure that you do not run into any unnecessary troubles.

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Which is the Best Credit Cards to Use?

Having the best credit cards in your wallet can be fun yet dangerous. It is like a double edge sword which you need to know and understand how it work to your advantage.

Singapore is one country that has progressed a lot ever since its inception. Thanks to the uncompromising-work ethic of its inhabitants as well as zero tolerance attitude towards crime and corruption. Singapore is right now one of the leading nations in Asia and is well on its way to fulfilling its destiny as a global power.

Living in such a country, it is but obvious that there will be a lot of financial options for Singaporeans such as credit cards. In the modern world, credit card is a man’s best friend but one also needs to know how to use it judiciously.

Use Cash Back Credit Card

The HSBC Visa Platinum Credit Card is one of the leading cash back cards in Singapore. It has been awarded 4.8 stars. It comes with a standard interest rate of 24% per annum and its annual fee is 180 Singapore dollars. However, in the first two years the fee is waived off. In order to avail this card your income should be at least 30,000 Singapore dollars. When you sign up for this card you will receive vouchers worth 200 Singapore dollars of Resorts World Sentosa. The OCBC 365 Visa Credit Card is also one of the leading names in this regard. Its rating is similar to the HSBC Visa Platinum Credit Card. Its standard interest rate is 25.92% per year.

In this card too, the fee, which is 160.50 Singapore dollars, is waived off for the first couple of years. Along with regular cash back rewards it provides gas-related benefits. In order to avail this card one must earn at least 30,000 Singapore dollars. The Citibank Rewards Card MasterCard has been awarded 4.8 out of 5 stars as well and is regarded as one of the top cash back cards in Singapore. Cardholders get an introductory interest rate of 0% for 6 months of balance transfers. It comes with a standard interest rate of 24% per annum and its annual fee is 192.60 Singapore dollars, which is inclusive of GST as well. It provides rewards in the forms of points. In case you want to avail this card your minimum yearly income should be 30,000 Singapore dollars.

Make Full use of the Credit Card rReward Points

The most convenient way to make the most of reward points on a credit card offer is to choose one where the reward points are going to be of some use to you as a consumer. If you are a middle-class person then you should look for cards that offer reward points for shopping at your preferred stores. In case you are a young entrepreneur who is more often than not living out of a suitcase you can look for credit cards that offer frequent flyer mile programs. It is also important to make sure that cashing your rewards does not mean that you have to spend even more money. Before choosing a card it is also important to compare the rewards on offer with other cards.

People often make a major mistake by opting for a credit card just because they feel like doing so. It is important that you put a lot of thought into it before you buy one. A proper comparison helps you understand if it is really worth having the card. There are plenty of aggregator sites where such information regarding rates and fees can be made. You should also keep in mind that these could go up or come down depending on your credit history and score. It is always better to beware of cards that charge hefty annual fees because that fee may as well reduce your benefits to nothing. This is why cash back cards without any or very little annual fees are the best way to go.

For a better understanding of this issue, please read the article 5 Easy Ways to Plan Your Spending & Increase Your Saving.

Consolidate your Spending in One Credit Card

In this age of high incomes and equally high spending as a consumer it is hard to keep a tab on which card is being used to pay which expense. This may seem to be trifling to start with but soon you understand that you have built up a mountain of debt that you are finding very hard to deal with. In order to pay that debt you have to incur more debt and the situation only spirals out of your control to such an extent that after a point you are forced to sell off your property and announce yourself bankrupt. Now you would not want such a situation to be in, right? The question is how you avoid such a serious pitfall.

The first thing that you need to do is have only one credit card and even if your income and your supposed needs – hammered on to your head by capitalist propaganda – increased you should always be parsimonious with your expenses. The lure will always be there but you need to be able to ignore it at will. With only one card you will be able to keep a proper track of your expenses as well. Try and buy as much you can with cash and limit your expenses. You may or may not acknowledge but you always need not flash the latest consumer goods to depict how much you have achieved in life. A debt-free life is also a good indicator of how well you are doing in life.

Decide Which Credit Card is Best for You

A country such as Singapore, which is synonymous with progress in so many ways, is awash with cards. There are different cards that can be availed in this country for a wide variety of purposes and it is for you to decide which one is going to be good enough for you. Cards such as OCBC, Citibank and POSB are good for activities related to EZ-Link. For buying petrol the best companies would be the American Express Platinum Credit Card, the POSB Everyday Card, and the UOB PRVI Miles Platinum Card. In case you are interested in buying products and services and pay in installments you can try the UOB One Card.

Do share with us your credit card strategies and how you choose them to your advantage.

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Plan Spending Increase SavingOne easy way in which you can make better use of your money is to write down what you wish to do with it. If you write them down they will always appear more plausible and you will feel that there is always a good chance that you can achieve them. We often see that our daily expenses come in the way of our saving. A spending plan is a good way to ensure that our life’s financial goals are not messed up by our expenditure. A spending map or plan is different from a traditional budget in the sense that it is not as strict as the earlier. It is something that helps us assume greater control of our finances in the future. A spending map can definitely help us reach our goals.

Step 1: Decide Your Outcome, Reduce Cost, Increase Saving or Investment

The first thing that you need to do in order to save money is to understand where your money is going. It helps you get a control on your financial situation and also helps you achieve your goals with the financial resources at your disposal. There are a few things that need to be done if you want to understand where your money is heading. The first thing is to assess your financial habits. For starters, you can list down every area where you may have spent money in the last month. You can start with areas that are common expenses for all such as rent and utilities, insurance, minor purchases such as snacks and coffee, and groceries.

Step 2: What is Your Income (Monthly or Yearly)?

There are several components of your income – more than you may know or care to imagine. The first part of your income is the salary that remains after all the applicable taxes have been deducted. If you have other earning member/s in your home then this rule applies to them as well. Together you can calculate and arrive at a cumulative figure. The bonus and overtime payment that you receive from time to time or at definite intervals in a year also constitute your income. In case you earn some dividend on shares or any form of interest on your savings it is considered your earning as well.

Step 3: List Out Expenses (Monthly or Yearly)

The most important expense for you would be the various savings and investment that you are making in order to secure your financial future as well as that of the others important to you. The second important area of expense is housing. You could be paying mortgage or shelling out rent for the same. Electricity is a critical area of expense as well and one should try and use it as judiciously as possible. Then there are expenses such as heating oil and gas. Water is also an important area of expense. Telephones come with associated costs such as monthly rentals, internet connection, and costs incurred in long distance calls that inevitably are more expensive.

Step 4: Compare Income and Expenses.

Comparison of income and expenses is a very important part of any exercise aimed at saving money. You can do this by writing down your aggregate income in a month and then taking into account the total money that you are spending in a month. Your income should always be more than what you are spending.

Step 5: Set Priorities and Make Changes to Your Spending and Savings

If you are able to save money at the end of a month then it is a fantastic situation to be in. It shows that you have a balanced income. This means that you have the money you need to achieve your future goals. However, in case it is the other way round then you need to increase your income or reduce your expenses or, if possible, do both.


The basic thing is that you should always be careful about the condition that your money is in. You should earn as much as is possible for you and spend as little as you can. This will allow you to create a fund that will come in handy at various stages of your life.

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No matter what your requirements are, it is always better to take loans from a licensed money lender as this can get you a number of benefits. We have all heard stories of how certain people borrowing money from unauthorized sources have experienced major problems with harassment issues. By getting your money from legally approved money lenders, you ensure from the beginning that you are free from such troubles. So let’s have a look at the various benefits that you can get by loaning money from licensed money lenders.

1) Avoiding Harassments from Illegitimate Money Lenders

Borrowing money from licensed money lenders protect you from the harassments that illegitimate money lenders can expose you to. The money lenders in Singapore have to follow numerous strict money lending laws that are laid by the government. If the lenders are not able to abide by even a single of them, then they become liable to face serious punishments from the governmental authorities such as monetary fines or even revoking of the lender’s license. The professional licensed money lenders can offer you advice on how to stick to a repayment scheme that is feasible so that this helps you to manage your money properly.

2) Avoiding Very High Interest Rates

Usually, unlicensed money lenders ask for very high interest rates as they often have a need to ensure repayments from the people borrowing money from them. However, licensed money lenders in Singapore are registered under the “Registrar of Moneylenders”, that issue dictates regarding how much a money lender can charge as interest rates, what fees they can ask for and the maximum amounts that they can lend to the people asking for loans.

By the way, i-Credit offers one of the lowest interest rate in Singapore, compare to most licensed moneylender in Singapore.

3) Avoiding SMS Spams from the Illegal Money Lenders who try to convince you to Loan Money from Them

The licensed money lenders are not authorized by the law to send advertisements through SMSs or carry out telemarketing campaigns to entice potential customers. If you are bothered by such SMSs asking you to loan money, then you can report this to the IPT as this is a major violation of the DNC act and money lenders act.

4) Avoiding Illegal Ways of People Trying to Obtain Your Personal Information

Illegal money lenders often make use of a person’s SingPass login details for obtaining personal information about people who they try and can convert into customers. Private information if fallen into wrong hands can be used in wrong manner. Hence the legal lenders only carry out SingPass verification checks in the presence of the person in question as he or she is obtaining a loan in the office. The money lenders check your previously drawn salary so as to estimate your level of income before they can actually issue the loan on your name.

5) You can get your Loans Easily with Legitimate Money Lenders

Legitimate money lenders, unlike the illegitimate ones can issue your loans rather quickly. For example, if your yearly income is $30000 or more, then you can get your loan approved quite easily and in less time. Moreover, your credit history won’t be checked thoroughly or taken too much into consideration.

6) You can Loan ANY Amount For Any Income Group

If your annual income is more than $30000, then you can loan money up to 4 times of what is your monthly income. Moreover, the interest rates that will be applicable for you will be at 4% monthly. Check out the loan scheme for more info.

Do contact us if you are in need of loan.

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Suggestions of experts

Ramit Sethi, the author of “I Will Teach You To Be Rich” suggests that one should spend one’s income in definite streams of expenses. The first thing that he recommends is that people should create a budget and then stick to it in a steadfast manner. To start with, he asks people to spend the majority of their income – amounting to as much as 50 to 60 per cent – for the fixed expenses. This includes costs such as rents and/or mortgages, various utilities, bills to be paid for cell phone calls, insurance, payments for private vehicles, and other miscellaneous expenditure such as groceries, internet and clothes etc.Effective Budgeting Tips for Young Singaporeans

Next, Sethi says that 10 per cent of one’s income should be dedicated for making investments from the money that is left after paying the taxes. As far as savings are concerned, Sethi states that 5-10% should be kept aside for the purpose. Young people can save up for a variety of purposes such as going on a vacation, making down payment on the house that they have always wanted to buy. Savings also come in handy during wedding or at times of emergency. Sethi says that the remainder of the money should be used for guilt-free expenses.

He feels that every person needs to spend for fun and expects young people to do it more often than others would. This segment includes expenses such as going to bars, going to see a movie, attending a game or using cabs etc. Going by this approach, it would not be unwise to suggest that Sethi exhorts people to spend more money on things that they love and less on things that they dislike, and still be able to save some money that would come in handy later on. Bill Schultheis, who has authored “The Coffeehouse Investor – How to Build Wealth, Ignore Wall Street, and Get On with Your Life” has his own take on this issue.

Schultheis proposes that people should save for later but they should also invest some money for the present. He prioritizes areas such as mutual funds and stock markets for young people, provided they are interested in the same. He says that 10% of youngsters’ money should be used for investment – it does not matter what kind or form it is. He also says that young investors should not shy away from the prospect of losing their money in the stock market. Any loss suffered in the present would only make them wise in the future.

The author of “FAFSA Made Easy: Getting the Most Out of College Financial Aid” Arthur Isabella suggests that a 50-30-20 plan should be followed by young people. Isabella says that 50% should be dedicated towards regular expenses, 20% should be for debts and retirement savings and the remainder of the money should be used for recreational activities. He says that one should recognize the basic fact that all our expenses are related. Considering the critical condition of the job market he recommends that there be three kinds of budgets – one for good times, one for normal times, and one for when nothing is working.

Importance of self control

It is very important to be controlled in one’s expenses. Quite a few of us are lucky in the way that we inherit the virtue from our parents and it is drummed into us. With proper control on your expenses it will always be easier to maintain a leash on your spending as well. You can always use the credit card to buy something but isn’t it better to save for the same and then buy it?

It is not really worth it to pay interest on something as daily and mundane as a pair of jeans or a box of cereals. If you are not able to control your urges, it does not matter how much you earn at the end of a month – you will keep paying for them for a decade. In case you want to make sure your credit cards can be used for convenience expenses or for availing the rewards always pay the whole balance when the bill comes to you at the end of a month. Also, be sure to have only that amount of cards, which you can keep a hold of.

Be responsible for your own financial future

You should always remember this – if you have no idea as to how you can manage your own money others will always find ways to wreck your ship. Some of them can have bad intentions such as financial planners who work on basis of commissions and operate in a Machiavellian manner. Others might have only your good at their heart but they have no idea of what they are doing. Among them could be your own family members who might wish you buy a house but have no knowledge as to how you would pay off the mortgage.

There are certain other things that you should keep in mind:


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