manage your money

According to a research from Zurich, single people are potentially leaving themselves financially exposed.
Not a good sign. I carefully went through the list and was finally relieved that I'm one of the 10% who actually have it under control.

Let's look at the risks and start planning for your money.

1. Being a person family, we are at a very high risk without a second income resource.
Plan A: Get critical illness coverage or other form of income protection coverage.
Plan B: Build multiple income, better still, passive multiple income.

2. Being single, we don't get to enjoy the benefit of sharing accommodation, (some do), or car. We paid more for vacations, hotels, and the list goes on.
Plan A: Talk to a financial adviser, BUT don't sign anything or buy anything yet. After hearing the introduction, read some books and consult your friends before you make any decision.
Plan B: Get married and let him/her worry about it.

3. We can be spontaneous in spending as we don't have to answer to someone else. But can we effort to? I surprise myself half of the time looking at my credit card bills.
Plan A: Set a spending budget and stick to it. Analyze your current spending habit and make the budget feasible.
Plan B: Double or triple your income while maintaining the same expenses.

It's sexy to be single and rich. It's sad to be broke, single or not.

Image by perfectday_s