2010 Financial Planning

For 2010, I will be keeping track of my expenses especially the ones using the plastic money (aka credit cards)! Although at the seminars/previews most of the presenters tell you its best to use giro for your settlement of the regular bills and credit cards, I prefer not to as I tend to lose track of my bills once these go on giro. I dont even look at the statement.

Now, I only put those on giro only for those organisations that insist on giro such as CPF Board for the maid's levy.

I also subscribe to credit cards when there are benefits such as discounts or rebates each time you use your credit card. To get rebates from your utilities' bill, I charge this expense to my POSB Everyday card, for an extra 100 free sms from Starhub, I charge the expense to another of my credit cards so as to get both reward points from my credit card and the free sms.

Remember so long as you settle your credit card payment promptly, you can always ask for a waiver of the annual fees. Never ever pay the minimum amount or any amount other than the grand total for the month. It just take once to rollover and you will be facing a high interest from the banks.