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Png Cheng Xi Damien

Png Cheng Xi Damien

Happy Life Seeker at Home

36Upvotes

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Png Cheng Xi Damien

Happy Life Seeker at Home

36Upvotes
  • Answers (75)
  • Questions (0)
  • Reviews (5)

Loans

Investments

Png Cheng Xi Damien
Png Cheng Xi Damien, Happy Life Seeker at Home
Level 4. Prodigy
Answered on 15 Jul 2019
What is the int rate on your debt? What kind of debt is it? If you don't know what you are doing, the best is to pay of your debt.

Career

Savings

Png Cheng Xi Damien
Png Cheng Xi Damien, Happy Life Seeker at Home
Level 4. Prodigy
Updated on 09 Jul 2019
You already know the answer. It takes so long for you to save up the sum, you have to put down everything after ~8 years (including any bonuses, career progression, life plans) just to do a Master's degree overseas for a few years; and come back to start anew. How much will the masters give you in terms of employability and value?

PFF Panel 3

PFF Panel 2

Robo-Advisors

Investments

Seedly PFF 2019

Png Cheng Xi Damien
Png Cheng Xi Damien, Happy Life Seeker at Home
Level 4. Prodigy
Answered on 17 Jun 2019
Which level of education are you refering to? For university, you'll have around 18 years to accumulate. While many of those here are against this, I think that an endowment plan would actually suit you. Those longer than 15 years usually gives yield of around 3% p.a. compounded. Everything else has to depend on your risk appetite as those are investments.

Lifestyle

Png Cheng Xi Damien
Png Cheng Xi Damien, Happy Life Seeker at Home
Level 4. Prodigy
Answered on 17 Jun 2019
$1,500 for a 3-minute performance. Most of the activities which command a high $/time requires extensive prep work and effort beforehand. Or luck if you go for $1 quickpick toto.

Credit Card

General

Png Cheng Xi Damien
Png Cheng Xi Damien
Level 4. Prodigy
Answered on 17 Jun 2019
I think you just need 3 - one for cash back, one for miles, one for everything else that doesn't fall into the above two. Or maybe 1 more for large ticket purchases. You can actually request for the banks to change your billing cycle. Mine are from 1st to 5th of the month, which means that my due dates are from 24th to 29th of each month. I will schedule my payments on 22nd of the month (takes 2 days for AXS or interbank transfer).

Loans

Png Cheng Xi Damien
Png Cheng Xi Damien, Happy Life Seeker at Home
Level 4. Prodigy
Updated on 07 Jun 2019
How much difference is it away from 12x of your salary? Unpopular opinion: If it's not too near away, take up a little more to reach the 12x so you quality for DCP (which is usually at 6-8% p.a. with 1-2% processing fee - much better than any other loan out there). An easier to stomach option would be trying to get a balance transfer to reduce the highest interest loans first. You then give yourself some breathing time to work things out. If you have a private property, you can reverse mortgage it to get cash (secured loan) and pay off these high interest debts. Current interest rate on secured loan should not be higher than 2.3%. If you live in a large HDB (4/5 room), it may be worthwhile to downsize to a less-prime location to unlock cash. Of course, please do your calculations right. You don't want do all that to only have your money lock up in CPF. By calculations, if you maxed out your credit cards and loans, it should reasonably be around 12x since credit card limits are usually 4x monthly income (per bank). Or if your gross income is actually pretty high, speak to a bank about restructuring your loans. They will usually allow you to do that (approx 10% p.a. with 3% processing fee). From there, you can slowly pay off in bulk when you have more cash. Sources to get more cash: Drive Grab during your free time (~$15/hr). If you focus only on peak timing, you can make around $30/hr. Do part-time jobs such as events ($10-15/hr). Deliver Grabfood - lower entry criteria. You can even do it on foot/bicycle - approx $8/hr.

Loans

Property

Png Cheng Xi Damien
Png Cheng Xi Damien, Happy Life Seeker at Home
Level 4. Prodigy
Updated on 07 Jun 2019
Mostly floating rates plus a sizeable spread. Definitely most expensive than local properties. Usually you can also choose to have your loan denominated in ppty ccy or sgd.

Investments

SeedlyTV EP01

Png Cheng Xi Damien
Png Cheng Xi Damien
Level 4. Prodigy
Updated on 07 Jun 2019
A total beginner should start by learning how to read annual reports and accounts, and take not of off-balance sheet financing for a debt-heavy company. Next, learn about external and internal factors affecting a company's performance. If you only want to look at macro, go for etfs. They are efficient, but less effective in generating returns. If you have the time to analyse both, pick your stocks and watch them grow.

Savings

Investments

Insurance

General

Png Cheng Xi Damien
Png Cheng Xi Damien, Happy Life Seeker at Home
Level 4. Prodigy
Updated on 07 Jun 2019
Lee hsein loong to talk about govt policies...
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Level 4. Prodigy
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