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HC Tang

Sharing my experience & learning. Thank you for your sharing and upvote:)

HC Tang

Financial Enthusiast, Budgeting at The Society

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Sharing my experience & learning. Thank you for your sharing and upvote:)

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Financial Enthusiast, Budgeting at The Society

HC Tang

Financial Enthusiast, Budgeting at The Society

  • Answers (509)
  • Questions (8)
  • Reviews (29)

Lifestyle

Career

FIRE Movement

Do what you like to do, try out something that you have never done before. Repeat the above until you find something you truly like doing and keep doing it. Over time if you're sick of it or find it enough, then go search for the next things that you like to do until you're come to the end of the road. After you have done the above, I would say you have truely live a good life with no regrets! What a life! :) Enjoy your FIRE! :D (Envy sia) :D

Stocks Discussion

Investments

SG Budget Babe

Family

Well, these days we have smart phone or tablets. While travelling on Bus / MRT , we can: 1. Download e-Book of all the financial books to read and learn. Take notes using the build in notes app or Onenote. 2. We can also read Seedly blog, the recommeded financial blogger blog post etc. Since we at least travel to and from Home / Work / School , that is the best use of time to learn and improve. If you're driving, can also listen to financial podcast, available mostly free while driving. To select , I'll go for some recommendations, read a few chapters to find out if is suitable in what i want to learn / grow on. To me, basic financial is most important, read about all the insurance, budgeting, credit cards, debts management, financial planning and then read everything financial to know at least 30 to 40% then decide which one I would like to focus on more and come back later for some other area. For good financial books to read, see this: https://www.sgbudgetbabe.com/2017/07/recommended-books-on-personal-finance.html or https://financialhorse.com/top-8-must-read-investment-books-for-singapore-investors-in-2020/ These are enought to help us "level up" or keep us busy for 2020 while travelling :D Happy Leveling up!

Savings

Lifestyle

Loans

Bank Account

Insurance

Fresh Graduates

Debt

POSB

Hi No worries, Everyone start somewhere somehow, never too early or late. At least started now. Suggest you can read up in Seedly home page, under Content for Fresh Grad since your situation is smilar to that. https://blog.seedly.sg/ultimate-personal-finance-compilation-of-articles-for-fresh-graduates-first-job#first-salary Where the 30/50/20 allocations with your salary. ! So 3k salary less Employee CPF contribution 20% gets you $2400 take home pay. Where : (A) 30% to Savings = $720 1. Suggest keep $500 for emergency funds 2. $100 to $150 for Hospitalization & Surgery, then if you have extra, go for Term Insurance (Ref: https://blog.seedly.sg/working-adults-key-insurance-policies-singapore and https://blog.seedly.sg/working-adults-4-frequently-asked-insurance-questions/ . Where you can consider either MoneyOwl(formerly known as DIY insurances) to get only what you need without overpaying/buying) 3. $70 to $120 for savings future study / upgrading of practical / useful certification courses, make use of SkillFuture $500 credits etc to increase your ability to earn more in the future) (B) 50% to Expenses = $1200 1. Meals around $300 ~$400 (hawker food only or self prep, occassion share restraunt meals with friends / colleagues, Go dutch always). 2. Transport less than $100 (Take Bus & MRT only) 3. Mobile about $30 (Use Sim only Plan to keep cost low) 4. Basic entertainment $50 (Movies once a month on weekday night cheaper, find those 1 for 1 deals via credit cards / specific telco) etc. Find other free entertaiment for single or couple such as: https://blog.seedly.sg/category/entertainment 5. Give to parents / rentals : Around 20% to 30% depends on your family financials and parents 6. $30k Uni Loan - All other balances to quickly clear this. If Item 5 don't need, then allocate to this area to clear it ASAP. (C) 20% to Wealth via Investment: It's great that you've learn like a sponge and readup more , do start from the main articles: https://blog.seedly.sg/ultimate-personal-finance-compilation-of-articles-for-fresh-graduates-first-job#first-salary Read up more in Seedly and related / recoomended Financial Bloggers post, if current saving a/c is not the best, find another better one thru research. Own due diligence and hardwork is always required :) There's a lot of options and myself learning still, thus go read up the articles, read up the answer in Seedly Ask community, read up the Products page for user review before trying anything. Most of all, get feet wet, try out as you learn more with practical experience , understanding 40% to 70% of each product / topic is sufficient to hands on and try out. The worst is only someone who never do anything about it and let life / dreams passed by! All the best! Cheers!
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FSM INVEST EXPO 2020

Stocks Discussion

Mixed: Take a look at these: https://www.weforum.org/agenda/2015/02/how-do-natural-disasters-affect-the-economy/ https://www.thebalance.com/cost-of-natural-disasters-3306214

Credit Card

Miles

MileLion

Cashback

Most of the time those interest free installment will not entitle to cashback / miles / points. Eg. UOB One card T&C at: https://www.uob.com.sg/assets/pdfs/onecardfulltnc.pdf Point 5 as attched: ! Point 5(e) statest that 0% / interest free installment plan will not qualify for cash rebates. So best is Save the full sum and pay one short before buying to reap the full cc benefits.
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Stocks Discussion

Investments

ETF

FSM INVEST EXPO 2020

S&P 500 Index

DBS

Don't think so, but you can buy "Infinity US 500 Stock Index funds" https://secure.fundsupermart.com/fsm/funds/factsheet/370283/ that simply tracks the S&P500 with a 0.69% fee/expense ratio (If you buy thru Endowus will be ~0.4% after the rebate of trailer fees from Lionglobal) excluding Endowus fee. You can ask all the expert here more about this funds.

Stocks Discussion

Investments

Credit Card

Why not try using Revolut. Their also have their own investment platform similar to Robinhood (FOC) in USA. You can ask them if is possible to do so before applying.

Lifestyle

Wedding

Marriage

To save a lot, you can try at Tiong Bahru Industrial Estste to find the "same manufacturer " for the jewelry and then get nice box from Iluiga or Taobao. See : https://blog.seedly.sg/cost-of-wedding/

Entrepreneurship

If is not a legal requirements then probably don't need for the time being as long as you follow the guidelines: https://singaporelegaladvice.com/law-articles/home-baked-goods-licence-singapore hence not against the law. However if one day if you decided to go full time or have reach certainly scale, will need to register for tax reporting and management of cost related too. All the best ! 😃

Investments

Regular Shares Savings Plans (RSS/RSP)

ETF

There's no such RSP but you can save the $ and manually buy individual shares directly via local brokers or interactive platforms regularly. The pros is you can get the highest return if you pick the right one but the cons is that the fees is usually higher than those auto RSP as RSP are automated so they can afford to charge a lower fee. If your choice is blue Chip like DBS / Singtel , is a rather safe choice and good for dividend. Check out Seedly blog article page for a comparison of platform fees before you decide. Cheers.
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