How to save wisely..

I was reading this Cleo Oct 2007 Magazine i got from Office the other day and read about some saving tips.. In Summary it talks about 5 different types of savings that we can do.. And in my personal opinion, it would be better to have all 5 of it.. (diversify mar..)

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Tie up your savings.. You know how convenient you ATM card is right? and that actually encourages us to use more money.. worst if we have credit cards!! Even easier to spend money on that Handbag that is on 50% discount! So better to have an account without the ATM card so it make it difficult to withdraw $$. As for credit card? Dun need one then dun use one..

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Save via your EPF.. Good idea actually but dun use the EPF money to buy house to buy this and buy that lar.. unless its really necessary... like Child education ok lar..

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Then Ask your mom to "jaga" the money for you or help you keep the money... Of course the ideal way is to give your mom your ATM card or Passbook. Only with valid reason that you can withdraw money from your savings.. Provided you really trust your mom..

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Then FD! Great way to save $$.

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Then Insurance!! it is important!!! I think Insurance is the best way to really create an estate when we do not have much to give.. it's really worst it lor.. so why not invest in insurance now?

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In investment, we always ask ppl to diversify your investment or even saving.. Never put all your eggs in one basket.. tt's pretty dangerous.. so diversify!