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Elijah Lee
Elijah Lee,
Level 6. Master
Updated 1d ago
I will answer the question with a few additional pointers to address any one else's concerns on the same topic. The things to consider are: 1) What is your time horizon? In your case, with 15 years, it is long enough that you may consider holding some defensive equities. For shorter time horizons, equity holdings may put your investment capital at risk. Equity funds (UT) maybe an alternative to direct investment in equities as well if you are not certain what equities to buy or are only able to allocate a certain amount monthly to build your capital. Fixed income can comprise the rest of your portfolio so as to balance things out. 2) What is your risk appetite? This will determine your allocation of equity/fixed income. The less risk you are able to take, the more your portfolio should shift towards fixed income. Fixed income options may include short duration bond funds, or Singapore Saving Bonds, or bonds such as Astra V. 3) Would a guarantee on part of your funds give you a peace of mind? Then a suitable endowment plan with decent guaranteed returns would form part of your portfolio, ensuring that you have a certain amount of funds ready for at least the school fees, regardless of market conditions when your child commences university. The endowment also has the advantage of having a minimum return with potential upside. However, for these to work well, the duration of the endowment will have to be more than 10 years. Alternatively, short term endowments may be an option. 4) Liquidity. Another consideration is the amount of liquidity that you need to have. One of the on-going costs of university are the daily expenses. To that end, ensure that the portfolio constructed has ample liqudity if your child needs an injection of funds for purchases such as textbooks or laptop. Stocks/UT can be liquidated within days, SSBs take up to a month, and endowments are meant to be held to maturity. Combining all these together will yield a blended portfolio that should adequately address your concern. Re-balancing to take profits is also an important part of the strategy. As an example, an endowment plan can form the basis for ensure funds for the bulk of the school fees, defensive blue chips may provide dividends for daily expenses and unit trusts may provide potential capital appreciation to take care of anything else, expenses wise. The allocation will depend on the 4 factors mentioned above.

Career

Education

Hey there anon!! Here's what I think after analysing your scenario: 1) Assuming the scholarship covers your school fees and gives you a small sum as allowance too, it definitely helps you in potential student debt. 2) Will the total sum of scholarship be as high as whatever you're earning from teaching? Maybe yes, maybe no - you decide on the answer as I don't know the exact value of your scholarship. - If no, then continuing the lessons might seem more worth it, aye? - Additionally, if yes, you get to value add to these students' lives too, right? Seems like everything is in favour of continuing the lessons and earning the 4-6k/month right? Yes (in my opinion), but short term wise. Here's why I think so: 1) Long term wise, the investment in the degree would pay off - literally, it'll give you a better pay as a music educator for sure! 2) Long term (or short term wise - up to you to decide) a recession is coming. Being educated while under a scholarship would be to your advantage than being employed and at multiple risks from the economy. 3) While studying, i'm sure you can still teach part time during the weekends or on your free days! I've had 3-day work weeks in uni before. I'm sure your past clients would continue hiring you or recommend you to others too! Especially given your prior teaching experience. In short, I'm team uni based on what you've presented. Then again, I'm no expert in the music industry or 100% understand how the high qualification you currently possess stands in your industry compared to getting a degree. These are my two cents worth of opinion based on the facts you've presented. Maybe consult a senior in the music indsutry/school too! All the very best in whatever your choice is! :-)

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Personal Finance 101 (LLI)

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Tan Wei Ming
Tan Wei Ming,
Level 5. Genius
Answered 4w ago
Always save before you spend. This will somehow limit the amount you can spend. As for financial advices, I think you can start your research on Singapore Savings Bond, dollar cost averaging on ETFs.

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Family

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Justin Kieran Ong
Justin Kieran Ong,
Level 3. Wonderkid
Answered 4w ago
Most schools usually partner with Broadway serangoon for gown rentals and at the sane time, Broadway usually has a promotion when you collect the convocation photos to pay $100 upfront for a 50% off your next photo session with them or something. I graduated 1 year ago and that was the deal at the time. May have changed.

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Hey there anon! Really agree with Shaun's input and wanted to add a little more: 1. Food & Beverages: I really encourage meal prepping too, it helps you in budgeting & being healthier!! To minimise your grocery expenses, I recommend going to bulk stores (Go google Unpackt SG) & wet markets where items are more pocket friendly. Additionally, you should set a monthly (or weekly, whichever floats your boat) limit on the amount you can spend on F&B. I recommend you check out the following Seedly articles too: 1) Article for supermarkets' reward programmes that you can share with your family in order to stretch every dollar spent, 2) Article on closing time discounts you can get on different food items! It's such a steal when I manage to bag home the rotisserie's roast chicken (which I then use in my meal preps)! 2. Entertainment: Again, set a limit on the amount you can spend every month in this area. Say no to jios when you've (unfortunately) spent beyond your limit. This drives me to save more for the following month to reward myself too. 3. Promos & cashbacks: There're several channels on Telegram for you to learn about the various promos & deals in Singapore. If you haven't heard of cashbacks, do check out Shopback! It makes the burn in your wallet hurt a little less from earning back the cashbacks. For food expenditure, you can earn cashback via Shopback Go too. 4. Track your expenses: Last but definitely not the least, you should consider downloading the Seedly App to track your monthly expenses and set those limits that I mentioned prior. Our Seedly App is very intuitive and user-friendly for everyone!! To wrap up, I wanted to say keep up the good work at planning your finances! Perhaps you would find this Seedly article on managing your personal finances relevant too (as a student, maybe you should focus on the first 3 pillars). Hope I helped :-)

Education

General

Junus Eu
Junus Eu,
Top Contributor

Top Contributor (May)

Level 8. Wizard
Answered on 24 May 2019
IMO there isn't a 'better' degree - however one way you can objectively compare it is to see the average starting salaries for grads with a Finance degree and Economics degree. That said, given the fluidity of the job market now - for eg. Engineering grads go into sales, finance grads go into F&B etc. Ultimately, it's your life and you should pursue what you find would be useful in your life, and what you find interesting.

Education

Hey there anon, Current NUS student here! To be honest, i've never heard of this combination before, reallyyyy rare, man... I've heard of 1 degree + USP + NOC before though! I think even if the combination is possible, you might have to graduate later than 4 years (unless you overload). It all boils down to: 1. What do you prioritize? Getting double degrees, going for NOC, or going for the USP route? 2. Are you alright with extending your graduation? There're opportunity costs that come with a delayed graduation. Best if you check with USP and NOC's side directly. But don't worry, you still have time to decide (NOC or maybe SEP?) or drop away (the DDP or USP). All the best with school! :-)

Career

Education

HC Tang
HC Tang, Financial Enthusiast, Budgeting at The Society
Level 8. Wizard
Answered on 09 May 2019
1. Do you like to deal with people mostly? Or 2. Do you like to create stuff and like to try out new software? 1 => Go for BA 2 => Go for CS Either one you choose, you'll still need to study further down the road while you're working due to changing nature of tech advances disrupting how business operating runs. So either choice quite safe as long as you carry on life long learning. Cheers 😀👌🏼

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Ehow Finance - https://www.youtube.com/user/ehowfinance Preston Pysh - https://www.youtube.com/channel/UCLTdCY-fNXc1GqzIuflK-OQ

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Ang Yee Gary
Ang Yee Gary, Medicine at National University Of Singapore
Level 3. Wonderkid
Answered on 08 May 2019
I would recommend taking 2 courses from Prof Aswath Damodaran Corporate finance which is management way to look at companies Valuation which is investor way to look at companies Basic principles for finance 1. Time value of money 2. You should borrow money in the same currency as your expected cashflow 3 how much u borrow and how long u borrow should depend on the stage of your company and the projects u taking. If u are a loss making start up don't borrow money If Yr projects are long term don't borrow short term
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