Asked by Anonymous

I'm currently working as a freelancer, getting 2-2.2k per month without CPF contribution. However my expenses are also 2-2.5k per month. Any ideas on how to better manage my situation?

Hi, currently I had around 2 – 2.5 K worth of expenses every months and at the moment does not have any luck to secure a full time job. Currently, working as a freelance worker and getting around 2 - 2.2k per month (Non CPF contribution). Should I carry on this for a long period or is there any other alternative way to my problem at the moment?

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  • Loo Cheng Chuan
    Loo Cheng Chuan
    Level 6. Master
    Answered on 02 Nov 2018

    Cut down your expenses!

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  • Ck Chai
    Ck Chai
    Level 4. Prodigy
    Answered on 19 Dec 2018

    work on cutting down unnecessary expenses... Which are the wants and needs? e.g. Grab/Cab too much? -- leave early for work or appointment instead

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  • Elsa Goh
    Elsa Goh
    Level 5. Genius
    Answered on 11 Dec 2018

    Work 2 jobs. Or take up more freelance work if possible. This is not sustainable. Math doesn't lie. All our investment tips depend on people having spare cash in the first place.

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  • Daniel Ling
    Daniel Ling
    Level 4. Prodigy
    Answered on 11 Dec 2018

    Start by tracking your expenses.

    People whom are unable to know where their money goes are either lazy or just giving excuses.

    Over the years, i have picked up a habit to spend 15 minutes every Sat to pen down my expenses.

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  • Yong Kah Hwee
    Yong Kah Hwee
    Level 6. Master
    Answered on 01 Nov 2018

    Maybe you can elaborate on what you spend on? First thing you should do is cut your expenses!

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  • Jason Sin
    Jason Sin
    Level 5. Genius
    Answered on 01 Nov 2018

    Cut down your expenses and increase your income. As long as expenses are greater than income, you will not be able to save or invest.

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  • Nicholes Wong
    Nicholes Wong, Diploma in Business Management at Nanyang Polytechnic
    Level 6. Master
    Answered on 01 Nov 2018

    Even if you find a full time job, your expenses also same. Reduce your expenses first. You can just ask yourself. Is it good for me to live paycheck to paycheck? If your answer is no, record down all of your expenses and see which can be reduced. If yes, then nothing I can say.

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  • Png Cheng Xi Damien
    Png Cheng Xi Damien, BSc Finance at SUSS
    Level 4. Prodigy
    Answered on 01 Nov 2018

    You already know your problem: exceptionally high expenses. So focus on cutting that first. What is the main reason you cannot find a job?

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