Yong Kah Hwee

Joined the rat race recently. Even though I'm a chicken.

Yong Kah Hwee

218Upvotes

About

Joined the rat race recently. Even though I'm a chicken.

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Yong Kah Hwee

218Upvotes
  • Answers (590)
  • Questions (0)
  • Reviews (10)

Seedly

Yong Kah Hwee
Yong Kah Hwee,
Level 6. Master
Answered 7h ago
Desktop because i like using a bigger screen to answer questions :P

Expenses Tracking

Lifestyle

Shopping

Yong Kah Hwee
Yong Kah Hwee,
Level 6. Master
Answered 7h ago
Maplestory prepaid cards. Literally starved myself during secondary school and bought thousands of dollars worth of maplestory prepaid cards throughout the 4 years :(

Savings

Yong Kah Hwee
Yong Kah Hwee,
Level 6. Master
Answered 7h ago
It really depends, but you should have at least 6-12 months of emergency savings, plus adequate insurance coverage.

Savings

Bank Account

Yong Kah Hwee
Yong Kah Hwee,
Level 6. Master
Answered 7h ago
I put all my money into one account, so that I can get the maximum amount of interest! :)

Investments

Savings

Lifestyle

Yong Kah Hwee
Yong Kah Hwee,
Level 6. Master
Answered 7h ago
1. Sacrifice on drinks during meals. Just drink plain water. 2. Sacrifice taxis to take public transport/walk instead. 3. Sacrifice social drinking with friends. Would rather go for experiences. Drinks are expensive :( But i would not sacrifice on: 1. Giving parents allowance. 2. Paying for insurance 3. TRAVEL!!!!!

Savings

Lifestyle

General

Yong Kah Hwee
Yong Kah Hwee,
Level 6. Master
Updated 1d ago
1. The very first thing you should do is to track your expenses, then find out where you can cut. To be honest, $800 per month for someone single and with no commitment is really high! For myself, I allocate about $350 for food and entertainment per month. 2. Start investing. Read up. Seedly has many good resources. There are also many financial bloggers available online; all you have to do is to Google them. 3. Cut down on subscriptions, if you can. Do you really need them? You can also choose to share subscriptions with people (for example, Spotify's family plan, which is only $2.50/month) 4. Set up a high interest savings account. Trust me, you'll feel good when you see the interest you are getting increasing month after month.

Loans

Investments

Yong Kah Hwee
Yong Kah Hwee,
Level 6. Master
Answered 2d ago
I'd pay off the loan first before investing! Unless I am sure that my capital gains + dividend returns can beat the interest of the loan, I will pay off the loan first! Markets are pretty volatile nowadays (in my opinion at least), so I'd advise you to play safe and pay off your loans first!

Insurance

Yong Kah Hwee
Yong Kah Hwee,
Level 6. Master
Answered 2d ago
Just be honest and say you don't see a need to switch now, but appreciate his thoughts and that you'd keep him in mind if you decide to switch one day! :)

Forex (FX)

Travel

Lifestyle

Yong Kah Hwee
Yong Kah Hwee,
Level 6. Master
Answered 6d ago
I don't think anyone knows... Also, if you are just going there for a short trip, it is unlikely that choosing the "right time" to change your money is going to make much difference to the amount you get in British Pounds.

Savings

Investments

Yong Kah Hwee
Yong Kah Hwee,
Level 6. Master
Answered 6d ago
I would suggest that you keep it as emergency savings. Hence, you may want to consider putting it into a high interest savings account.
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