Look through your list of spending and ask yourself if they are needs or wants. Trim off the wants and look for signs of bad spending habits that you need to change.
Check through the habits list above. If your answer to all these five questions are "NO", then CONGRATULATION! You are able to take control over your moneys. You are your money's owner! But if your answer is YES for some of these questions, or even YES to all of them, you should be start taking action from NOW!
Step 4 in financial planning: CREATE A SPENDING PLAN
There's no point for you to go through step 1 to 3 again and again without a proper plan on your spending. Once you have studied your spending habits, you can now create a spending plan that will allow you to achieve your financial goals.
You can use Bank Negara Malaysia's "Buku Pengurusan Belanjawan Keluarga" (Managing Household Budget Book) which has been designed to assist users in creating and monitoring their spending on a daily, monthly and yearly basis.
CONTACT ME NOW: 016-6825195
Source: Malaysia Banking Info
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