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Jansen Ng

Constantly learning about personal finances

Jansen Ng

Business Student at Ntu

47Upvotes

About

Constantly learning about personal finances

Credentials

Business Student at Ntu

Jansen Ng

Business Student at Ntu

47Upvotes
  • Answers (29)
  • Questions (4)
  • Reviews (2)

Savings

General

Jansen Ng
Jansen Ng, Business Student at Ntu
Level 4. Prodigy
Answered on 10 Jun 2019
If you are going to strive for the standard because it is commendable, lemme just commend u on the thought of it first. This way you dont have to strive to reach a standard just because it is comendable. But really, different people have different family, financial background and earning power. Set ur standards based on your goals or % of income saved/spent. Ask yourself, is 100k by 30 something that you will be happy with, or isit sometime you need to slogg hard and forgo lots of other activities, or isit something you close eyes also can get based on current income and spending.

Savings

Investments

Bank Account

Jansen Ng
Jansen Ng, Business Student at Ntu
Level 4. Prodigy
Answered on 09 Jun 2019
Interesting answer from andy, compared to conventional way of parking in savings accounts, especially useful for those who either do not have salary crediting, or cant hit the requirements for high interests rates, or already maxed out the salary crediting bank savings account (and subsequent accounts may only give 1%) Im actually doing it without intentionally doing it. Cos im actually waiting for a good time to enter stocks, hence parked it at poems pre-fund account:)

Lifestyle

Finance Savvy

Jansen Ng
Jansen Ng, Business Student at Ntu
Level 4. Prodigy
Updated on 07 Jun 2019
For me, its the mindset of frugality despite being okay-to-do. Like keeping coupons (haha not so much now), going for cheap deals, search for cheapest place to buy that item, 1-for-1 promotions, dont buy things i dont need:) These mindset helps me to cut down ny expenses:)

General

Lifestyle

Jansen Ng
Jansen Ng, Business Student at Ntu
Level 4. Prodigy
Updated on 07 Jun 2019
Yeaa best time to learn, regardless if u can only afford a car in later stage / you may not even want a car. To me, learning driving is a good skill to have, and I dont intend to get a car till i have kids (IF i have kids:p) But, consider the following (caveat, based on my own thoughts. Others may disagree): - Are you able to practice after you pass your driving license (eg family car) . Im asking this because passing the test is just the first step, but if u dont start driving after u pass, it is easy to forget / become not confident. But if u can drive outside (eg family car or rent) for >5-10 times after u pass ur license within thr first 6 months or so, the skill you learn when driving will be more ingrained and probably this is when ppl say that if you learn driving you wont forget it in your lifetime. But if u learn finish but dont touch a car in the first 1 year or so, good luck to you cos its easy to become not confident and require more time to rebuilt the confidence. - Will you need to take on more debt. If so, I rather you dont learn, because driving will take $1-2k, and your student loan seems quite heavy.

Investments

Stocks

DBS Vickers Securities

Jansen Ng
Jansen Ng, Business Student at Ntu
Level 4. Prodigy
Updated on 07 Jun 2019
I have a sub question. If the orders are split across various timings of the day, eg out of 1000 shares, 500 is bought in the morning but rest 500 is bought in the afternoon, is it just one commission? Does it make a difference if i put in a buy at 500 shares in the morning and it got throught, then i separately put in another 500 shares in the afternoon and it got through in that same day? ps im using poems

Investments

Jansen Ng
Jansen Ng, Business Student at Ntu
Level 4. Prodigy
Updated on 07 Jun 2019
Considering the answers provided above, would it then be safe to say if the prices fall below their avg prices bought by Berkshire, we are on safe grounds to purchase?

Investments

Loans

Education

Jansen Ng
Jansen Ng, Business Student at Ntu
Level 4. Prodigy
Updated on 07 Jun 2019
Do a check on ur inflows and outflows at the moment. -Do you have any side income at the moment? -Will your parents give u any money at all (uni fees, allowance, anything) -How much will you spend a month Looking at your time frame, you dont really have the time horizon for investment. I suggest not investing this because u need the liquidity, and u dont wanna cash out when its bad times and lose money. 8k a year means $667 per month, ie u need to earn this amount minimally. Including your expenses, which may total to say, 300-600 a month depending on how u spend. Considering this, you need to find higher paying part time jobs. $8/h isnt gonna make the cut. Tuitions are great if u are able to teach, but remember, a kid's academic future is impacted by u. Alternatively, find other sources where u can utilise ur skills. Take part in simple survey in sch which gives out $10-15/h or $5/20mins. Apply for burseries if u are lower income. Apply for mid term scholarships if u can do so. If u study hard and have good skills, go for competitions/case competitions which gives 3rd place about 500-1k, and 1st place 3k-5k kind of award. Alternative to above, u can take up a interest free tution loan till grad, and invest the money u earn because now the time horizon for the cash is 4 years - till after u grad. U can go for sti etf or ssb because u still need some liquidity, and prob not wan to take up too much risk

Investments

Jansen Ng
Jansen Ng
Level 4. Prodigy
Updated on 07 Jun 2019
It really depends on your outlook to the company. Typically companies have an expected earnings amount that shareholders and analyst expect of them. If you feel that the company will fall short of the expected earnings, then sell before the report is out. But if you feel the company can outperform expectations, then sell after the report. Stock prices are all based on expectations. My bet is to just find a company with good fundamentals, and hold, and not to worry about when they release their reports, because we could never accurately guess the outcome.

Investments

ETF

Brokerages

Jansen Ng
Jansen Ng, Business Student at Ntu
Level 4. Prodigy
Answered on 30 May 2019
Alot of factors comes into play with that general question. Whats your capital per DCA? How low is low cost for u? Do you have your preferred ETFs? Are your preferred ETFs in SGX or overseas? Few options: - POSB RSP into STI (for low capital eg in the hundreds, 0.5-1% per transaction) - Pre funded accounts (where u transfer money into the platform before buying of stocks) (min $10 or 0.08%-0.18% per transaction) - Post pay accounts, held in CDP (min $25 or 0.275-0.28% per transaction) - Roboadvisors, where its invested in their chosen ETFs (0.6%-0.8% pa for lower capital) https://blog.seedly.sg/the-ultimate-cheatsheet-cheapest-stock-brokerage-in-singapore/amp/

REITs

Online Brokerages

Stocks

Investments

Jansen Ng
Jansen Ng, Business Student at Ntu
Level 4. Prodigy
Answered on 30 May 2019
Based on this article which neatly summarises the RSPs for you, go for DBS Invest Saver for <$500. https://blog.seedly.sg/which-regular-savings-plan-is-the-cheapes?utmsource=app&utmmedium=share
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