Don't worry, be wealthy

Your year-end bonus, if you're even getting one, is paltry. That's bad news with the coming holiday season. You've got bills to pay, your credit-card debt is piling up, the girlfriend is bugging you to bring her on a holiday, and there are Christmaspresents to buy. You're totally stressing out, but here's the good news: All you need to do is master your money and the anxiety it's been buying, and it can all go away. The Stress: Credit-Card Debt The Solution: Start Small First, the obvious: Lower your interest rate. Do your homework and find out which banks are offering lowered interest for transferring your balances from your other plastic. Take advantage of the lower rates and pay back the arrears promptly. Pay your debt faster, says David Bach, author of The Automatic Millionaire by adding $10 a day to your minimum payment and $10,000 in debt will disappear in less than two years (assuming an additional $250 per month minimum payment). The Stress: Your Paltry Retirement Fund The Solution: Simplify, Diversify Follow this simple retire-rich guideline: Invest an hour's worth of income per day in your post-work life. That's 12 per cent of our gross earnings for a 40-hour week. Add that to your CPF and you could be looking at a smooth ride, 65 and beyond. The Stress: Asking For A Raise The Solution: Smile Business proposals are twice as successful when they're offered by people displaying positive emotions. So when proposing your boost, point everyone's attention to tangible things that demonstrate your loyalty. You don't want to have any negative emotion in the room. The Stress: Costly Vacation The Solution: Schedule Smarter Taking off-season trips can cut vacation costs by more than half, says Rick Steves, author of Europethrough the Back Door. If your schedule isn't dependant on your kids' school holidays, plan trips for those off-peak months, like April or August. Flights and accomodation are usually cheaper during those times. The Stress: Bad Investment Advice (Yours) The Solution: Take Risks Set aside 10 per cent of your money for investment hunches. It's okay to yield to the temptation to gamble, as long as you only give in a little bit. With the remaining 90 per cent, invest in low-to-medium-risk international funds and bonds. You'll sleep easier.