Type 1 or 2?

In financial planning, there are two types of people…

Type 1.

People who save first and spend the rest. They know what they want in life. They have set their financial goals clearly. They have the quiet confidence that they can spend without guilt because they have already set aside for their future financial needs.

Type 2.

People who spend first and save whatever is left. They live for the moment. They know at the back of their minds that they must save for their future needs but never got around to it. They give excuses for not saving first as they have too many bills to pay now. It is all a matter of lifestyle. It is the high lifestyle cost that is weighing them down, not the high cost of the lifestyle. Living cost in Singapore is still manageable as compared to other first world countries.

So which type of people are you in? One or Two?

May I suggest you spend sometime reflecting on your lifestyle and decide on how you are going to live your life from now on.

Have an awesome start to your work week.