Tuesday, December 1, 2009

What is a Money Juggler?

Let's understand the meaning of a Money Juggler from a story below:

Let's take a close look at a lady named Lim. She works with a beauty shop doing marketing, sales and customer support. She is satisfy with her job. She rents an apartment and is still paying off the balance of her car hire purchase installments.

The bulk of Lim’s money goes towards rent, car payment, car petrol, food, personal insurance, utilities, gym membership fees and entertainment. The highlight of her work week is the weekend which she likes to spend with her friends or family. Lim practice the concept of pay herself first, 10 percent of her take-home salary. The rest of her income is all spent off.

When an emergency crops-up, like a visit to the dentist, she does not touch her savings nor does she cuts back on her 10 percent monthly savings rate. She has learned to juggle her money and instead cuts back on her weekend entertainment or eat simply for a week to cover the cost of the emergency.

Do you still remember your campus life?
When we are a student, we struggling to survive on a limited budget.
I believe each of us has our way when it comes to juggling money.
Do you know what is yours?

Let's learn not to be stingy but frugal and living within our means or even optimizing our budget.

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