4 Smart Money-Saving Tips for Moonlight Clan
Can you successfully save your money in the COVID-19 Shock?
In view of current COVID-19 epidemic situation, even if the social distancing measures have been relaxed by the government and more HongKongers have been vaccinated, many of us are still worried about the situation, wearing face masks every day and paying high attention to our hygiene.
Men can still use face wipes for skin-cleansing, but how about women? They will still put on makeup even if they were wearing face masks, but the skin condition will be adversely affected in the long run. While these deep-cleansing products are necessary for the skin, women who are concerned of their beauty must have bought a lot of expensive skincare products.
Accidental over-spending is applicable not only for women but also men: camera goods are essential for men who are keen on photography. As the sales of camera shops have dropped significantly, numerous promotional activities have been launched for improving the sales performance. Men will be taken aback when receiving the credit card bills and discovering how much they have spent on camera goods!
How can I avoid to be Moonlight Clan?
How can I avoid over-spending? People usually think of earning more money to increase their income. However, most of the millionaires had said before, “You have to know money-saving to become rich.”
It sounds simple, but is it? Human beings have unlimited and endless desires. Even if you earn a lot, you can hardly save any money if you also spend more. After all, spending money is way too easier than earning money.
Let me introduce 4 money-saving ways to avoid over-spending in the daily life!
4 Money-Saving Tips
- Record your daily expenditure
- Recording our daily spending is more crucial than we have thought. Most of us will not take daily expenditure too seriously, meaning that we cannot estimate the approximate amount of month expenditure and know how much we can save or spend on entertainment. For white-collar workers who do not have habits of bringing their lunchboxes, having lunches at the restaurants every day is unavoidable. Sometimes, we may even have expensive dinners with our friends or colleagues at the restaurants
- There are a lot of free bookkeeping tools, such as CWMoney, Moze 3.0 and Moneybook that you can make use of to record your daily expenditure.
- Review last month’s actual expenditure
- After recording daily expenditure, you are advised to categorize them into groups of transportation, dining, clothing and entertainment. After that, you need to review last month’s expenditure and learn your spending pattern. After knowing the area where you will spend more than expected, you can then limit your own spending to a certain amount to avoid over-spending in one or more areas to better control monthly expenditure.
- Think twice before purchasing
- Purchasing stuff we actually don’t need is usually the main reason of over-spending. Despite of gender, we may easily buy clothes because of sales promotions or even bad mood.
- Most of the people in Hong Kong probably have enough basic clothing, and we have no reasons for buying a lot of clothes to dress up ourselves. After all, we need to identify if we ‘want’ or ‘need’.
- No more overdue credit card bills and minimum payment!
- The credit card bills at the end of the month will always surprised you if you over-spent, and some of the people may choose to only settle minimum payment for ease. However, settling minimum payment will cause more troubles than you have expected!
- As the minimum payment is calculated based on the formula of compound interest, the interest amount as well the total payable amount will be increased like a snowball, meaning that the debts will become a great burden and people may lose their grip on managing their finance.
How can we borrow money by paying less interest for credit card bills?
However, life is always full of incidents. Even if we have controlled our expenditure and limited the amount of money we can use, we will always be taken aback when checking the outstanding balance of credit card bills. What can we do?
Cashing Pro Personal Loan may be your choice! You can apply the loan online and soon enough you will receive the loan. Apart from that, you can pay less on interest, as Cashing Pro’s loan interest is calculated based on simple interest formula.
Cashing Pro’s 60-instalment loan plan allows customers decide when to completely settle the loan within 60 instalments and the actual monthly repayment amount, and no penalty interest or handling fee will be charged in the process as well, which is more flexible than other banks or well-known loan companies!
There is an actual loan sharing case for reference.
Ms. Lee, aged 26, a white-collar worker, whose monthly income is $17,000. Her expenditure distribution is as follows;
- Household expenditure: $4,0000
- Daily expenditure, including transportation and dining fee: $5,000
- Cosmetics: $2,000
- Clothing and Shoes: $2,000
- Facial Treatment: $2,000
Ms. Lee will save up the remaining $2,000 for future use, including taxes, furniture fee and medical fee.
However, $2,000 is actually not a significantly large saving amount, and Ms. Lee is currently considering of buying a new $40,000 handbag for work. Her savings seem not enough for her to buy the handbag.
Finally, Ms. Lee has decided to loan $20,000 at Cashing Pro to solve her problem. After successfully draw down the loan, she makes use of the ‘Less Principal, Less Interest’ principle flexibly: if she was short of money during the month, she will only settle the minimum payment (loan interest); if she had more cash, she will then pay more to reduce the loan principal amount for less interest. At the end, Ms. Lee settled the loan within a year without paying any penalty interest or handling fees.
Click Cashing Pro Personal Loan to apply online.
Warning: You have to repay your loans. Don’t pay any intermediaries.