facebookI am a 30 year old self-employed and I haven't been earning much the past 2 months. With CPF, I am afraid I have even lesser to spend on my monthly expenses. What should I do? - Seedly

Advertisement

Anonymous

14 Jun 2020

βˆ™

Saving Hacks

I am a 30 year old self-employed and I haven't been earning much the past 2 months. With CPF, I am afraid I have even lesser to spend on my monthly expenses. What should I do?

Any advice on how self-employed people can get through months with lower income yet the same fraction going into CPF

SeedlyTV S2E08

Discussion (4)

What are your thoughts?

Learn how to style your text

Loo Cheng Chuan

14 Jun 2020

Founder at 1M65 Movement

The solution is simple, make more money. You may have to take on 2 jobs, 3 jobs if necessary, rent out your flat etc. I think in Singapore, if you are willing to work hard and to exercise care and wisdom in how you spend your money it is very possible to make a very decent living.

Hi Anon,

I am a 30 year old self-employed too. It is challenging to give specific advice without knowing the details of your current situation, but here is a short answer:

Consider reviewing the priorities of your finances/expenses/goals in light of your new situation, and allocate your income to achieve your priorities accordingly.

Be on the lookout for other tools/options that may allow you to achieve your priorities more efficiently.

Shengshi Chiam, CFA

10 Jun 2020

Personal Finance Lead at Endowus

I think its really hard for self-employed people to utilise CPF carefully, especially with the varia...

Write your thoughts

Advertisement