facebookHow should couples start saving in this period if they have not start working and for BTO? - Seedly

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Anonymous

09 Apr 2020

SeedlyTV

How should couples start saving in this period if they have not start working and for BTO?

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Pang Zhe Liang

09 Apr 2020

Lead of Research & Solutions at Havend Pte Ltd

Cash Flow

Firstly, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit.

Here is a Guide:

Understanding Your Personal Cash Flow

Since you are not working, focus on reducing expenditure. This ensures that you do not dig deeper into your cash savings. Moreover, consider looking for part-time jobs to create a source of income.

Goal

Next, know your goal by doing a detailed calculation on the price of the home, including renovation and other associated cost.

Create a Budget

With a well-established goal, create a budget that is capable of helping you to plan for the future. The best way to do this is via automation.

How I do My Budget:

How to create a Monthly Budget

Either way, use this extra time that you have to do detailed planning for your future. Once the circuit breaker period is over, you are ready to execute the plans.

I share quality content on estate planning and financial planning here.

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