4) Insurance (allianze investment link more value for money)
5) Unit trust (fundsupermart lowest sale charge)
6) electrical item ( handphone, camera, etc)
7) Daily household ( eggs, shampoo, vegetable )
How to save money by plugging leaking financial pockets
RECENTLY, I was billed for work done in my house. A quick check revealed a summation error which meant I was billed less than stated.
The mistake was highlighted to the vendor who was very grateful. But I also thought about how many other under-billed invoices she had issued over the years but weren’t highlighted to her.
Surely, she must have had a financial leakage in her business due to the mistakes.
In our personal financial lives, we too have “holes in our pockets” which can drain money out of us without us being aware.
Check your pockets and see if you need to have them quickly‘patched up’.
* Are you overpaying foryour products and services?
Check if you are overpaying for the products and services that you don’t need. Cancel subscriptions to unread magazines that usually end up with the old newspaperman or reduce pay TV channels to only the ones you watch.
Check the bills you pay at restaurants, supermarkets, etc. You cannot assume the totals are right. If you are buying something at a promotional price, take a picture of the promotional materialin case you are charged a higher price at the check-out counter.
* Are underbilling your clients and customers?
Don’t be like my vendor who didn’t check the grand total. You maynot be as fortunate to have a customer who would highlight an amount lesser than what is actually billed.
Are you also too compassionate in charging a professional fee for your services or too relaxed with credit terms?
* Are you paying unnecessary penalty charges, surcharges and interests?
Late and penalty charges can be small but still they are financial holes which leak money away.
Take action to avoid such charges in future or ask for waivers if you can.
How about surcharges such as booking fees and registration charges?
Can you reduce them bydoing it online orgoing on group discounts?
Avoid paying interests that drain you out. A good guide is to look at your own investment portfolio - are you being charged higher interests than what your current portfolio can return you?
Just like a leaking pipe, we waste hard-earned money when a financial leakage isn’t fixed. Do a check on your financial pockets now. Do they have holes?