An individual can file for bankruptcy if he or she cannot repay debts of not less than S$15,000 to a creditor, just like how a company can become insolvent if it is unable to repay debts amounting to S$10,000 within 21 days as requested by a lender, creditor or bank.

Hence I believe it is important that we  manage our financial health and lifestyle like a company business and operations. Let me illustrate how to run your life like a company.

1. Revenue
The salary or monthly income we bring in from employment or own work is the revenue from sales of the precious commodity of our time, remuneration of our efforts or skills to our employer or customers. Generally, we would want to increase the income by performing well for that pay increment, promotion, get more sales or perhaps clock more overtime work for OT pay.

However, if we partake in side hustle,...