Hi Guys,
This is the 2nd of the 4 articles to read, apply and comment as part of your Course work. Click on this link to go to the website: http://www.getsmarteraboutmoney.ca/en/life-events/life-after-high-school/Pages/default.aspx#.VEiWyPmUd1Y
List down the 2 links that you have read.
Comment on what you have learnt under the comment here below.
Have fun!
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http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/if-you-spend-more-than-you-earn.aspx#.VFoM5fmUfuc
ReplyDeleteConsistently spending more than you earn is an easy way to accumulate debt.
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/decide-how-much-you-need-to-save.aspx#.VFoNrPmUfuc
You need to know what you are saving the money for and set a goal of how much to save each month.
NURUL ISTIGHFAROH - QK1404A
http://www.getsmarteraboutmoney.ca/en/managing-your-money/investing/investor-protection/Pages/Seven-common-investment-scams.aspx#.VGNyAfmUdCk
ReplyDelete1.) Protecting your money- investment scam
Before investing any stodks or bonds, we should have knowledge on the various investment scams namely Pump and dumpscam. We should invest in trusted companies so that we will hold any worthless stocks. Be smart enough , avoiding invest in makeshift company.
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/pages/worksheet-the-cost-of-living-on-your-own.aspx#.VGNy8PmUdCk
2.) The cost of living on your own,
Before moving into a new home, ti is imperative to know the cost of living on your own.This includes your expenses and incomes.Do not overspend on the unnecessary things , for instance, clothing and cosmetics products. If we spend our money at a minimum , this would certainly benefit us in terms of our financial planning and the types of housing that we live,
Tan Wei Xin _QK1404A
Link 1
ReplyDeletehttp://www.getsmarteraboutmoney.ca/en/managing-your-money/investing/bank-accounts/Pages/How-to-open-a-bank-account.aspx#.VGamcPmUezl
When creating a bank account , we must look into what type of account we would like to open for example saving or current account and we must know what we want to open our bank account for .
Link 2
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/how-to-create-your-budget.aspx#.VGalGvmUezk
When creating a budget , we must look into what we in our life for example where do we want to live , what food we would like to consume , transport fees and many more .
http://www.getsmarteraboutmoney.ca/en/life-events/getting-a-new-job/Pages/default.aspx#.VGiOFvmUeV0
ReplyDelete1)Getting a new job can be both stressful yet exciting , but with the help of our boss, together we can plan fr the future and also help in paying for life insurance
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/decide-how-much-you-need-to-save.aspx#.VGiOg_mUeV0
2)An easy way is to set a monthly goal. Save 1 dollar a day and in a month you will get $30. If able, start saving more and more so that we can save the money for a rainy day instead of buying useless items that bring no value to our lives.
top comment was AKMAL SQ1404A
ReplyDeleteacknowledged & trsfd
ReplyDeletehttp://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/pages/worksheet-the-cost-of-living-on-your-own.aspx
ReplyDeleteI have learned that our own expenses itself are a lot. And we should budget on our expenses to save up for the future.
http://www.getsmarteraboutmoney.ca/en/managing-your-money/investing/real-estate/Pages/Planning-to-buy-a-home.aspx
I learnt that we should do various calculation before buying a house. Its good to be prepared for knowing the cost of a home.
Mohana
SQ1404A
trsfd & acknowledged
ReplyDeletehttp://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/if-you-spend-more-than-you-earn.aspx
ReplyDeleteIn this article, i learn that we should not spend more than what we earn. We should try to cut down our spending using the 9 idea that is in the article to help us. If we really spending so much, then we must think of a way to earn more so that your spending is not over what you are earning. Try not to be in debt too because of spending more than earning.
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/saving-money/Pages/pay-down-debt.aspx
In this article, it mentioned that we should clear our debt as soon as possible so that we are able to have the money for investment to earn the interest. If we are in debt and also invest at the same time, our debt interest may be much higher than the interest return for the investment. Thus, in the end we did not earn any money from the investment. So i learnt that for any investment, we should clear our debt first, so that we will able to enjoy the interest return from our investment.
Kai Xun
SQA1404A
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/financial-planning/Documents/Financial-goals-worksheet.xls
ReplyDeleteIn order for a person to manage or plan their financial situation, they can make a checklist like this so that we they will be able to take note of where their spendings goes and how much they will save.
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/how-to-create-your-budget.aspx#.VGwM0XgazCQ
In order to set a budget, a person can start early to save more. They can do so by keeping a track of their income. They should also manage their bills and other expenses.
A person should also try to stay out of debt by paying their debt as much as possible in a few years.
Timothy Dalton
SQ1404A
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/finding-extra-money-to-save-the-maleks-story.aspx
ReplyDeleteIt is good that Rissa decided to create a new family budget so that she can help her son to pay off some of the cost since he is planning to take further studies in college but she should consider seeking help from a financial planner to help her with her budget and how else she can save more so that Anton does not really have to work part-time to pay for the expenses. I have learnt that financial planning is quite important to have a clearer direction to achieve our goals.
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/daves-story-balancing-saving-spending-and-paying-debt.aspx
I have learnt that we need to know what we want to save for and what are the methods we will take, we should also set goals to make things easier for us, for an example, how much we want to save per week/month, a specific goal.
Reshma
SQ1404A
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/saving-money/Pages/video-saving-money-for-an-emergency.aspx?group=Funny%20Money&page=1#.VGoPSPmUf4I
ReplyDeleteI do not have any other cash aside for emergency but after watching this video i will start saving. And also during emergencies i can clear the debt off before it has higher interest rate.
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/what-are-the-best-ways-to-pay-for-a-car.aspx#.VGoTivmUf4I
I have learn that the best way of buying a car is by paying cash instead of bank loan and other methods. I will be likely to pay lesser. To do so, i must make sure i have enough cash with me.
Chia Zi Qi
QI1404B
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/saving-money/Pages/video-saving-money-for-an-emergency.aspx?group=Funny%20Money&page=1#.VGoPSPmUf4I
ReplyDeleteI feel that what she did is helping out in her sons costs but she is not doing it efficiently and that clearing debt quickly is better than letting it accumulate.
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/what-are-the-best-ways-to-pay-for-a-car.aspx#.VGoTivmUf4I
I learnt that we should properly calculate the amount it will cost to buy anything and which method would be the best for our current situations
Toh Jun Pen
DeleteQK1404A
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/managing-debt/Pages/Credit-card-options.aspx#.VGyl88l6Udk
ReplyDeleteI've learn that some of the credit cards can also be use and serves a similar purpose with it. Some people has the habit of using credit card as the main source of loans to purchase items when they are financially unwell.Unlike any other credit card, "prepaid credit card' shared the same functions as any other debit cards that has been implement. Users are to make sure that there is sufficient funds in the card before undergoing any transactions. In any way, users are still required to work towards being independent before they could earn enough to begin any form of purchase.
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/decide-how-much-you-need-to-save.aspx#.VGypkcl6Udk
Before we can get set aside our savings for any personal interest, it is always important that we also take emergency funds into consideration. In reference with our total monthly income, we should set realistic money saving goals while excluding all essential expenses such as food and electricity bills. Depending on your financial ability, for every month, it is best to save at least half of your earnings . We do not have the ability to make predictions towards our future aspects, but we must always be financially ready to protect ourselves against all odds.
Lau Mei Hui
SQ1404A
*serves a similar purpose as debit cards
DeleteLau Mei Hui
SQ1404A
http://www.getsmarteraboutmoney.ca/en/managing-your-money/investing/real-estate/Pages/Planning-to-buy-a-home.aspx#.VGzAfdPmjFo
ReplyDeleteBefore buying a house, Analyse our income and our bills and housing debt, make sure it is affordable and managable.
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/if-you-spend-more-than-you-earn.aspx#.VGzBMtPmjFo
I learn that we can save money in different way, such as buying something that you need rather than something that you want and try to take public transport or walk instead of using your car as petrol is quite expensive
-Muhd Faiz (QI1404B)
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/saving-money/Pages/video-saving-money-for-an-emergency.aspx?group=Funny%20Money&page=1#.VGoPSPmUf4I
ReplyDeletei will save up more in case of any financial difficulties in the future. Preventing myself to land into a huge debt. Always be cautious & prepared.
Having money put away can really save the day.
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/decide-how-much-you-need-to-save.aspx#.VGiOg_mUeV0
Set a goal & fix it. Make sure we would not overspent the money . Figuring out how much do we need to set aside every month , slowing accumulate the sum & after a few month, we will reach our goal.
Jinghong QI1404B
Trsfrd comments as at 19 Nov
ReplyDeletehttp://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/decide-how-much-you-need-to-save.aspx#.VGiOg_mUeV0
ReplyDeleteBy setting financial goals, we can slowly accumulate money by saving a certain sum of money by eating less expensive food, for example. By the end of the month, if we follow through with our routine, we are able to meet out target, using it for the payment of bills such as telephone bills or utility bills to ease the burden of the family.
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/saving-money/Pages/pay-down-debt.aspx#.VG1MVRmwrqA
By getting rid of high-interest debts, we can ease the taxation on our money before it accumulates even more. Also, we can make an automatic savings account to save our money instead of putting a lump sum inside our wallets.
GOH HAO WEN SQ1404A
clearing debt is important
ReplyDeletedarren ng wei ren
qi1404b
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/managing-debt/Pages/Credit-card-options.aspx#.VGyl88l6Udk
ReplyDeleteI have learnt the different types of credit card which is actually like the one that people use as a an avenue for easy loan and the "prepaid" ones where You use the amount that you have deposited in. The risk and the threat is different but it serves the same purpose.
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/decide-how-much-you-need-to-save.aspx#.VGypkcl6Udk
Nobody knows what will happen tomorrow or even a minute later. Life is full of surprises and hence it is not wise to be calculating exact amounts and saving aside in general neglecting the cost of an emergency.
Soamu
SQ1404A
http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/if-you-spend-more-than-you-earn.aspx#.VFoM5fmUfuc
ReplyDeletewe should not spend more than we earn. We should try to cut down our spending
http://www.getsmarteraboutmoney.ca/en/managing-your-money/investing/real-estate/Pages/Planning-to-buy-a-home.aspx
we should know what we want to save up for and make proper calculations before commiting to buy anything
Aizat
SQ1404A
Link 1: http://www.getsmarteraboutmoney.ca/en/managing-your-money/investing/real-estate/Pages/Planning-to-buy-a-home.aspx
ReplyDeleteI learnt that we must plan ahead when buying a home. We must decide whether we could afford it, plan how you will save, protect credit score, set up a loan to pay, check interest rate, know all the cost.
Link 2: http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/budgeting/Pages/decide-how-much-you-need-to-save.aspx
I learnt that we must know what we are saving for. We need to set aside some money for any emergency cases.
Secondly, set a monthly saving goal. Set a fix price to save for a month.
Syafiq
SQ1404A