Living from paycheque to paycheque is definitely not a situation anyone would want to be in. For most of us normal people who are just trying to survive here in Singapore, there are definitely things we can do to make this endeavour more achievable for ourselves. Foremost, we at reckon that we all need to stop committing the following few financial no-nos. They aren't rocket science, really.

3 Financial Mistakes Singaporeans Should Avoid Committing

1. Spending without budgeting

Looking at your receipts and bills and allocating budgets for different categories of your expenses obviously isn't the most exciting way to spend your time, but figuring out how much you are spending, what you are spending on, and how much you ought to be spending will go a long way in giving you more control over your finances as well as helping you get a better sense of your finances.

Spending mindlessly and freely without budgeting is dangerous because you wouldn't know how much you are spending on things month after month. Spending without a budget also puts you at risk of spending above and beyond your financial capacity - not a good idea at all if money woes are concerning to you.

And in case you don't know where to begin, here are some budgeting habits to check out as well as things you can do to stick to your budget.

2. Not paying off credit card bills in full and on time

Although credit cards can help you save money, they can do so only if you use them smartly and responsibly. Any potential credit card rewards like cashback or air miles will be easily eroded once you carry balances and chalk up credit card debt. In case you haven't realized, banks in Singapore charge hefty interest rates of around 25.9% on unpaid outstanding credit card balances. Not only that, you will also be slapped with late payment charges!

3. Dismissing the importance of investing in yourself

I don't know about you but being curious by nature, I truly value the ability to learn. While not everything that we are interested in can help us grow into a better or more productive person, nobody can deny the importance of investing in ourselves. For example, your newly acquired knowledge in the area of personal finance may push you to be more savvy with your hard earned money. You may start to save more, plan for the longer term or even make sure that each dollar you are spending counts.

Taking the time and initiative to upgrade our knowledge and skills is especially crucial in today's day and age where technology is causing disruptions in so many industries worldwide, Singapore included. Investing in skills that boost our own value is the one of the best ways to stay relevant..and employed at the very least.