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Koh Jun Hao

Just want to maximize my every dollar

Koh Jun Hao

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Just want to maximize my every dollar

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Koh Jun Hao

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Investments

Stocks Discussion

Savings

Retirement

Career

Bank Account

Lifestyle

Insurance

Family

CPF

Koh Jun Hao
Koh Jun Hao
Level 2. Rookie
Answered on 06 Dec 2019
If I were you at age 25, I would: 1. Build an emergency fund of 6 months of my take home pay 2. Be adequately insured 3. Transfer all my OA to SA 4. Contribute $7k to SA or MA 5. Buy a RSP ($100-$300pm) for basic investment Any spare cash then I will pay stocks.

SG Budget Babe

Credit Card

MileLion

Koh Jun Hao
Koh Jun Hao
Level 2. Rookie
Answered on 06 Dec 2019
It is possible to survive without a credit card but is never wise. You will miss out on all the cashback, rebates, miles, bank promos like cashback boost etc. But remember, a credit card is a double edge sword. You need to understand how it works exactly before signing up for one and wielding it. As Einstein famously said about compound interest: "He who understands it, earns it; he who doesn't, pays it." Same applies to credit card: If you understands it, you earn the rewards. If you don't, you will fall into debt and become the one who 'pays' for all rewards to those who does. To me, using a credit card is just another convenient payment mode. What is enjoyable is that the banks pays me to use their services. All I need to do is to settle the bills on time. How great is that? And of cos, you got to know your limits and spend within your means.

Savings

Koh Jun Hao
Koh Jun Hao
Level 2. Rookie
Answered on 18 Nov 2018
you can do intermittent fasting and skip lunch. can save tons of money. then can afford to eat with colleagues once in awhile
Level 2. Rookie
9PointsGoal 10
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