Anonymous
Should I just keep my money as of now?
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Pang Zhe Liang
01 Apr 2020
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
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No way to give you specific advice without details.
Generally, go back to your cashflow and do a proper calculation and projection for the next 6 months and for the long-term. Calculate (one by one) the cash required in order to complete the purchase. Thereafter, check liquidity and affordability.
Moreover, understand your work and whether pay cut is temporary or permanent. Figure out ways to improve net cash flow (i.e. increase income, reduce expense).
Here is a Guide:
Understanding Your Personal Cash Flow
Above all, you need to have the confidence and ability to sustain the purchase in order to complete the purchase. Otherwise, not wrong to forgo the 5%. We can always earn that booking fee back. But to dive into higher risk because of 5%, it is certainly not worth it in my opinion.
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