Our lives are fairytales where there is a happy ending at the end. But remember, the main character always has to work hard for it and there are hardships they need to face. For example, in Dorothy and the Wizard of Ox, there will be a golden brick road which Dorothy had to follow to reach Oz, but on her way she had obstacles like the lion, tin, scarecrow and so on. Similarly, in real life, there are few paths you need to follow to make sure you can lead a better life than your current life through just little adjustments.  Budget – savings and debts, emergency, investments and plans are the four areas that needs to be monitored and controlled continuously.

Budget – Savings and Debts

It is necessary to have a budget to have any kind of development in your life. You cannot just become better through sending positive vibes to the universe and keep telling yourself you will make more money. You need to learn to extract maximum benefits from existing resources. Budget helps an individual to make sure that his income is adequately spread for all necessities. It is also through budget, you can ensure you have savings. It is not just individuals but it important for businesses too. The financial statements gives clear picture of the state of your business whereby you should be able to see when to let go of your business when you feel like it is sinking. Debt is highly important aspect because it tells you exactly when you need to cut your losses and let go in business.

However, there are some high risk businesses like flipping a house in a developing neighbourhood which might backfire and you will owe to different contractors and suppliers. In this case, you can just get fast loans Singapore and pay off all your debts and owe to one place instead of all over the place. It is also better for your reputation as a business owner and an individual.

Emergency current assets

Apart from the savings and paying debts, it is integral to make sure you have a certain amount of cash in hand and cash in bank. You need to have three months’ salary in your savings to make sure if redundancy hits you, you still will be able to tide over until you find an another job. Apart from this, you should have one thousand to twenty thousand in hand if need rises. This helps you make sure to cut off the unnecessary expenditures by making budgets and sticking to it.


It is better not to invest in anything if you have outstanding debts because you are more like to invest like a gambler than a business man. When you have debts, when there is surplus cash, it is better to make additional payment to your debts whereby the interest rates and the principle can be reduced. If you do not have outstanding debts, then make sure to invest through or after listening to a financial advisor.


It is vital to have a healthcare plan for you and your family. Though it might sound useless, in the current world where there is a high rise in accidents and medical emergencies, it is important to make sure you have a healthcare plan. Apart from that, it is better to start a retirement fund because as much as it is important to take care of your kids, you need to make sure you will not be forced to depend on your kids when you are older. You can also invest in other plans depending on your salary.