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Home > Are You Ready? > Manage Your Cash Flow

Many of us take for granted our steady income and cash flow because we're confident of our financial status.

But managing your cash flow requires discipline and can also be challenging in times of unexpected emergencies.

Use our simple checklist below to find out how you can give yourself peace of mind financially.

[What’s New in 2012?] We have more resources if you need help after completing the checklist. Alternatively watch this video to find out more.

Checklist

I spend less than what I earn monthly.

Tip: Differentiate between your needs and wants. Needs are related to the essentials in life i.e. things which you cannot live without. Wants are things that we desire, but can live without i.e. luxury items.

I save at least 10% of my monthly income.

Tip: Practise the principle of ‘Pay Yourself First’. When you receive your monthly income, transfer this savings to a separate bank account. Savings are critical in planning for future expenses e.g. buying a home.

I have at least six months worth of my income as emergency funds.

Tip: Set aside this fund before considering investment.

I pay my credit card bills and other debt obligations, in full and on time each month.

Tip: Keep track of your debts as interest of up to 24% p.a. may apply to the outstanding amount.

I have adequate financial protection.

Tip: Get covered under the Dependants’ Protection Scheme and/or other relevant insurance schemes.

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