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Jane

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Jane

  • Answers (4)
  • Questions (1)
  • Reviews (1)

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[Mother's Day 2020 Campaign] What is the BEST personal finance lesson your mum taught you and why? Let us know and for one of you, we’ll send a cake your way for your mum this Mother's Day on Sunday!?
J
Jane
Level 3. Wonderkid
Answered on 06 May 2020
“How do you expect yourself to afford that (expensive item), if you don’t save up for it? Also what’s the point if you’re able to buy it but not have any money leftover?” As a stubborn teenager, this made me want to prove my mom wrong. I set aside my pocket money regularly and after O levels, I had saved enough to buy a pair of dr martens boots I’ve always wanted with money leftover to allow me to enjoy my holidays. It was my first ever big purchase on my own with my own money and the satisfaction I felt walking out of the dr martens store after paying was so fulfilling I can’t even explain. Because of how contented I felt I no longer asked my mom or dad for money to spend on shopping/leisure anymore because I wanted to repeat that feeling of satisfaction. Even when I entered poly I continued working part time while juggling studies #hustle and I ended up being able to afford 3 grad trips and still have money and still graduate with a nice gpa. Totally worth it. Thanks mom, because I wanted to prove you wrong, I’m a very motivated person and a good saver now. (Thankfully only my money and purchasing power grew and not my feet so that same pair of boots is still very well loved)
👍 0

Savings

Savings Accounts

What are your thoughts on having more than one bank account to split your funds?
J
Jane
Level 3. Wonderkid
Answered on 09 Apr 2020
Hey Darren, I have an OCBC Bonus+ bank account at the moment for my emergency funds. I initially opened OCBC Bonus+ when I first started working to challenge myself to save $500/month to hit 1.45%pa. Even if I didn't manage to save that amount, I would still get 0.75%pa (back then was 1.05%pa). And if you withdraw money from the bonus+ account, for that month you will only get the base interest of 0.05%pa. Although the interest rate isn't as high as other HYSAs (like SCB Jumpstart) OCBC Bonus+ motivates me to save and prevents me from touching the money at all. Some people have one bank account while others have mutiple bank accounts. It's up to you on how you want to utilise them.
👍 0

COVID-19

Goods & Services Tax (GST)

I’m turning 21 this year in October. Am I still eligible for GST Payout?
J
Jane
Level 3. Wonderkid
Answered on 06 Apr 2020
Yep you are! You’ll be 21 in 2020 so you’ll be eligible
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Lifestyle

General

I am trying to cook more food at home to reduce cost of eating out. What ingredients would you recommend for meal planning?
J
Jane
Level 3. Wonderkid
Answered on 16 Mar 2020
I bring my own lunch almost every single day since I started working. I wanted to save money and also eat healthier (I know if I buy lunch everyday I would be more prone to buying something fried or unhealthy welp) My office pantry (unfortunately) does not have a microwave so my recommendations are mostly food that I don’t mind eating cold/room temperature. Some things I’ve meal prepped: -soba noodles -pasta -sandwiches -wraps/burritos -salads -sushi -cauliflower “fried rice” -poke bowl -yesterday night’s leftovers (ahahaha) On top of this I usually bring a fruit like an apple or a bunch of grapes for my snack. I save about $150 every month compared to when I went out to buy lunch everyday. The time I spend cooking is about ~20mins so I just get up earlier in the morning to prepare food. I know there was one week when I purposely cooked more for dinner everyday so I could use the leftovers and I didn’t need to wake up early to prepare lunch ahahahaha. Just look online for recipes and go with what works best for you.
👍 3
Level 3. Wonderkid
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