Grace Cong

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Grace Cong

24Upvotes

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Grace Cong

24Upvotes
  • Answers (21)
  • Questions (0)
  • Reviews (3)

Savings

General

Grace Cong
Grace Cong,
Level 4. Prodigy
Updated 2w ago
I always thought it should be whoever invited for the date should pay for it. Going forward, if things are going well, each party will naturally want to spend time with the other and the taking turns inviting/planning for a date should happen naturally. Then payment for the date will be taking turns as well.

General

Grace Cong
Grace Cong,
Level 4. Prodigy
Updated 2w ago
Firstly, what is the purpose of the allowance? Is it purely for your own discretionary use or as funds to maintain the household and kids, if any? If purely discretionary, then theoretically you can save entire amount. Spend only for occasional entertainment or for hobbies and save the rest. By right any living expenses should be covered by your hubby. If it's for running the household, you can keep an eye out for sale or promotion and buy in bulk. Monitor electricity and water usage. In this scenario, I would hope your hubby still gives you a separate discretionary allowance for personal spending. Any savings you can put either in RSP for STI ETF or in high interest accounts like CIMB fastsaver.

Property

Grace Cong
Grace Cong,
Level 4. Prodigy
Answered 2w ago
Net worth = assets - liabilities. The house is an asset, the mortgage (if any) is a liability. Both should form part of your net worth calculation.

Investments

Grace Cong
Grace Cong,
Level 4. Prodigy
Answered 2w ago
Agree with both previous answers. 4 years means equities is out of the question. See if you can find an endowment plan that will give you around 3% guaranteed annual return. If not, then SSB and high interest savings accounts will have to do. In the meantime, just keep saving monthly as you've been doing. Maybe you want to consider reviewing your budget and cashflow to see if there is anything more you can optimize to increase your savings rate. Or perhaps you can consider taking up a side gig. If your savings rate increase, you can consider doing DCA for long-term investment alongside your near-term goal. Oh and one more thing, I hope you have settled your insurance needs? Given that you plan to get married and have kids, please do include that in your coverage considerations.

PFF Panel 1

Property

CPF

Seedly PFF 2019

Grace Cong
Grace Cong,
Level 4. Prodigy
Answered 3w ago
You're paying yourself the interest that CPF would have paid to you had you not used OA to purchase the flat. So it's still your CPF money at the end of the day. You can use it for your next purchase, right?

CPF

Property

SeedlyTV EP06

HDB BTO

Grace Cong
Grace Cong,
Level 4. Prodigy
Answered 3w ago
See Gabriel's answer for checking your accrued interest. Refer to CPF website to see how to repay your OA and stop accrued interest from getting bigger. You would need to repay the accrued interest first then make partial or full payment of your principal. https://www.hdb.gov.sg/cs/infoweb/residential/servicing-your-hdb-loan/mortgage-loan/payment

Savings

Investments

Credit Card

Bank Account

CIMB

CIMB FastSaver

Grace Cong
Grace Cong,
Level 4. Prodigy
Answered 3w ago
There is a SDIC coverage of up to 75k so as long as your deposit does not exceed that amount, your money is safe. In the event CIMB collapses you will be reimbursed. The fact that they only have 2 branches and very limited ATMs locally is a con for some but for me it's a pro, coz I want it to be inconvenient for me to take out money from this account so that I won't be tempted to touch the savings there. I'm keeping it as my emergency fund.

Investments

ETF

Insurance

Grace Cong
Grace Cong,
Level 4. Prodigy
Answered 4w ago
Just note that ETFs are NOT risk free, so not really useful to compare against a risk free product. If your main consideration is risk free, then can consider SSB, though would be difficult to place a large sum into it in one go. May have to split across succeeding months.

Lifestyle

Grace Cong
Grace Cong,
Level 4. Prodigy
Answered on 08 Feb 2019
Just also note that usually, when one is granted a sabbatical, there is a requirement that no paid work or employment can be done in that period. So do check if that applies to your company as well and factor that in your decision process.

Career

Grace Cong
Grace Cong,
Level 4. Prodigy
Answered on 28 Nov 2018
No one can tell you what to do, it's up to you to decide whether kids or your career is more important to you. Know that some companies and managers are accommodating of mothers' responsibilities at home and will not impact your career, but be prepared in the event that yours may not be.
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