Penny for Your Thoughts

CHORUS Magazine

by Leong Hiong Yee

Written from an interesting angle of a father to child, Leong Hiong Yee shares his personal take on managing finances. 

My dear child

PF101 – Personal Finance 101 – is not a subject covered in universities. Learning to manage personal finance will be part of your lifelong journey. To ace this subject, you must have the willingness to learn continually and the (financial) discipline. Let me impart some valuable lessons to you.

First and foremost — filing. You might ask, what has filing to do with managing personal finance? Everything, my child. Being organised is the first step to managing your finances. A starting point is to keep at least two ring files; one for all your expense statements such as bills and the other for all your income / bank statements.  You will then know which bills to pay, when to pay them and how much…

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