5 Ways to Simplify Your Life and Take Charge of Finances

Ever wondered what makes you happy? A study  on the happiness of Singapore residents found that purpose, money and social support (among other factors) play important roles that correlate to happiness. If you have been feeling lost or overwhelmed in recent days, here’s how you can simplify your life and take charge of your finances to work towards joy.

1. Think about what matters to you

While a daily routine provides structure and a logical sequence to our lives, it can get boring at times, to the point of losing one’s sense of purpose. When you find yourself in such a state, slow down and think about what truly matters to you before setting monthly goals to work towards the life that you want.

Be it to have your own property, a comfy retirement or spend more quality time with your loved ones, identifying what motivates you and re-affirming your life purpose(s) will give you a clearer idea on how to remove unnecessary clutter and stress.

2. Take charge of your money

Money is not everything, but everything needs money. With the job market booming  and borders reopening, there’s much to rejoice as we strive to earn and plan for upcoming travels. Life can be that simple, as long as you manage your finances well and be prepared for rainy days.

Pay off your debts (if any) before you spend on non-essential items. You should also set a spending limit for the year. A good financial plan looks beyond saving to maximise your earnings and protecting it in case of unexpected events. As our Prime Minister recently cautioned , “inflation will become a very serious problem for the world if measures are not taken to address it”.

With core inflation expected to be within 2 to 3 per cent  this year, you should look into investing if you have yet to do so. Here’s the ultimate easy investment checklist to get you started.

Aspiring investors may want to check out Tiq Invest – a digital investment-linked plan (ILP) that offers life protection and investment – so you can accumulate your wealth and enjoy peace of mind as you (and your loved ones) are covered with a payout in the event of your death, even if the policy isn’t doing well.

Unlike traditional ILPs, Tiq Invest doesn’t impose lock-in periods or fund-switch fees. In fact, it has one of the lowest management charge fees1 in the market. You can start investing from S$1,000 and the premiums paid are invested into sub-funds of your choice. Learn more here

3. Manage toxic relationships

Singapore climbed the ranks in the 2022 World Happiness Report  to be the 27th happiest country in the world but many of us are still stressed  and sleep deprived . Be it at work, school or home, this invisible pressure usually stems from encounters with toxic people.

You may not be able to control others’ bad attitude but neither do you need the unnecessary mental (and sometimes financial) stress. There are many ways to manage toxic relationships. If tolerance doesn’t work, communicate openly with the other party or minimise your interactions.

For extreme cases such as freeloaders, friends who are constantly asking for a loan or people who belittle you, you may be better off letting go of the toxic relationships.

4. Reduce screen time

Life is simple and convenient with the Internet at our fingertips. Yet, spending too much time on our electronic devices is affecting us beyond poorer eyesight, lower work productivity and reduced social interactions.

Several studies  revealed that excessive screen time is bad for our physical and mental health. It helps to track your screen time and set a daily limit.  To simplify life and improve your well-being, bear in mind point #1 on what really matters to you.

Instead of relying solely on technology for information, seek out a professional or do more in-depth research at the library. Rather than reaching for your mobile phone every other minute or binge-watching Netflix over the weekends, interact with people around you or learn a new skill. This is also a good way of investing in yourself and your future.

5. Take control of your time

You’d often hear people saying they don’t have enough time, or maybe you are in a similar situation where chores pile up as the clock ticks. To gain better control of your time, create a list and prioritise your tasks. Before you multitask, ask yourself if it is more effective to delegate or outsource the must-do, especially if it is something that you deemed important but tend to procrastinate.

For example, investing can seem like a daunting task for people who are keen to invest. It takes time and experience to be an expert investor but you can start investing easily with the help of an investment expert. In the case of Tiq Invest, your investment will be managed by professional fund managers who share the same objectives of wanting the funds to perform well. Learn more here

Focus on what matters most to you

Last year, a Milieu Insight survey  found that workers in Singapore are the most stressed in Southeast Asian countries. Financial situations, personal relations, responsibilities and work/study commitments were generally the top factors of stress, which is hardly a surprise. As you work to simplify your life, remember to get your finances in order. Manage your money well so you can better focus on other aspects that truly matter to you.


1 Based on the available digital Investment-Linked Plan (ILP) as at 02 November 2021. This comparison does not include information on all similar products. Etiqa Insurance Pte Ltd does not guarantee that all aspects of the products have been illustrated. You may wish to conduct your own comparison for products that are listed in www.comparefirst.sg.

Information is accurate as at 10 June 2022. This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K).

Tiq Invest is an Investment-linked Plan (ILP), which invests in ILP sub-fund(s). Investments in this plan are subject to investment risks including the possible loss of the principal amount invested. The performance of the ILP sub-fund(s) is not guaranteed and the value of the units in the ILP sub-fund(s) and the income accruing to the units, if any, may fall or rise. Past performance is not necessarily indicative of the future performance of the ILP sub-fund(s).

A product summary and product highlights sheet(s) relating to the ILP sub-fund(s) are available and may be obtained from us via www.tiq.com.sg/product/tiqinvest. A potential investor should read the product summary and product highlights sheet(s) before deciding whether to subscribe for units in the ILP sub-fund(s).

As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. You should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you. This content is for reference only and is not a contract of insurance. Full details of the policy terms and conditions can be found in the policy contract.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC web-sites (www.lia.org.sg or www.sdic.org.sg).

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Tiq by Etiqa Insurance Pte. Ltd.

A digital insurance channel that embraces changes to provide simple and convenient protection, Tiq’s mission is to make insurance transparent and accessible, inspiring you today to be prepared for life’s surprises and inevitabilities, while empowering you to “Live Unlimited” and take control of your tomorrow.

With a shared vision to change the paradigm of insurance and reshape customer experience, Etiqa created the strong foundation for Tiq. Because life never stops changing, Etiqa never stops progressing. A licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore, Etiqa is governed by the Insurance Act and has been providing insurance solutions since 1961. It is 69% owned by Maybank, Southeast Asia’s fourth largest banking group, with more than 22 million customers in 20 countries; and 31% owned by Ageas, an international insurance group with 33 million customers across 16 countries.

Discover the full range of Tiq online insurance plans here.



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