The only thing that matters in your life

  • Asked by Kenneth Lou

    Leong Wen Fong
    Leong Wen Fong, Community Lead at Seedly
    125 Answers, 290 Upvotes
    Answered 1d ago
    If I were the one spending, then definitely the picnic. I think staycation everywhere would be overpriced, and I rather save up for overseas holidays. Unfortunately there are not a lot of places in SG where you can actually see the stars. That being said, if it were sponsored then of course I'll take the staycation, cos I'm a #trueblueSingaporean that loves free stuff too
  • Asked by Anonymous

    HC Tang
    HC Tang, Financial Enthusiast, Budgeting at The Society

    Top Contributor (Jan)

    356 Answers, 858 Upvotes
    Answered 1d ago
    Hi. It's so nice and smart of your dad to have plan for cars and house for y'all in times like this. I'm sure you have inherited the good qualities by being sensible also. On the other hand, the cost of owning the car will be much more , there's ERP as you use , maintenance and repair and it would have cause at least another $150 to $200 on top of the $200. It's very wise and sensible of you to consider this extra cost of ownership. I think there's 2 way you can consider this : 1) Thank him, enjoy the car and help him with the car to do errands and stuff. You can make good use of the car, if these extra cost is concern, use it to get some side income to subsidies the extra monthly cost such as being GrabHitch daily etc. 2) Talk to him and find out why He wouldnt allow you to use the $ instead on funding other things. He must have his reason and next you can share your concern and that maybe you could use this instead on getting first house , ask him to teach you how to invest and budget for it. Use it instead as your investment fund. This not only make even better use of the $, allows you to learn how to grow this $ better, manage finances even better and have more father and son bonding time. What's better than learning how to increase and accumulate wealth from your own father and what's not more proud for a successful father to teach his sensible son how to manage and increase wealth ? 😀 Cheers and Enjoy either choice, it's good 😃
  • Asked by Anonymous

    Nicholes Wong
    Nicholes Wong, Diploma in Business Management at Nanyang Polytechnic

    Top Contributor (Jan)

    244 Answers, 353 Upvotes
    Answered 1w ago
    I would feel abit sad but they are not obligated to give ang paos. Not like if they dont give ang pao, they will go in jail. At most, next time i give their kids and grandkids $2 as well.
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent

    Top Contributor (Jan)

    277 Answers, 468 Upvotes
    Answered 2d ago
    Don't think there is any. Our local Shield Plans have a last entry age of 75, plus not many seniors would be of pink of health at that age either.
  • Asked by Anonymous

    Jay Liu
    Jay Liu, Sleepyhead at Land of Dreams
    193 Answers, 344 Upvotes
    Answered 5d ago
    I started working when I was 15. As long as its kept minimal(weekends, school holidays) and focusing on studies during exam period.
  • Asked by Jzin Tan

    Lok Yang Teng
    Lok Yang Teng, Self-taught at Home

    Top Contributor (Jan)

    275 Answers, 376 Upvotes
    Answered 6d ago
    Hey, sorry dont quite get the question there. Do you mean adding data from bank statement into your excel file? I don't think that's possible since you will not be able to retrieve the raw data directly from the bank.
  • Asked by Anonymous

    Yu Ming Jin
    Yu Ming Jin
    1 Answers, 5 Upvotes
    Answered on 29 Nov 2018
    Although in sum it seem to be beneficial for the family, I strongly advice against it as it will definitely strain the relationship. Gender roles still play a large role in the Singaporean family, and it too, is part of your husband's identity. He might feel emasculated if he is made to stay at home to take care of the children. If there is one thing that harms relationships, it is to make either spouse feel unappreciated is his/her main duty such that someone has to step in and do the job for him/her. I.e. my mum gets fustrated when my dad interferes with the way she lectures me when I was young. Sounds like a rational choice on the surface, but in the long run, it might be pernicious if you husband does it unwillngly. Financially speaking, your husband will lose out on years of working experience if he suddenly stops his job to take care of the kids. Will be "paiseh" for him to explain why he has stopped work to take care of the young kids when he finds work again; Singaporeans care about "face" alot. Communication is key. Perhaps, there could be a mutual compromise.
  • Asked by Anonymous

    Loh Tat Tian
    Loh Tat Tian, Ex-Financial Advisor, Founder at Singapore Insurance Value Finding

    Top Contributor (Jan)

    228 Answers, 327 Upvotes
    Answered 2w ago
    This is a difficult question to answer. But it does makes sense to get a newer car with waranty, less issues, less repair cost. The loans from Car Loans, if you are confident of beating it, do go and invest but loans repayment are guaranteed... that's my opinion Pay down loans if you are unable to get the returns higher than the loan interest.
  • Asked by Anonymous

    Siti Putri
    Siti Putri
    22 Answers, 82 Upvotes
    Answered on 27 Sep 2018
    1) The marriage license paperwork takes lots of time especially if the other is from Western country with social welfare which typically has more stringent regulation for an Asian spouse. Needs lots of paperwork, original birth certificate, education cert, employment letter, apostille, interview etc. Be prepared may take 6 months to get clearance for the marriage permit to allow marriage. 2) You can apply for Long-Term Visa but likely only get 1 year approved, which will be further renewed such as 1+ 1+ 3 years. Even application of Long Term Visa for your spouse will be dependent on your own salary. If your salary is low, quite tough to get approval as government will think you cannot afford to support your foreigner spouse. ICA won't state this in writing but it is true. You can apply for SPR for your spouse but chances are will be rejected unless already living in SG for at least 3 years and contributing. 3) Whilst your spouse is on Long Term Visa, be prepared that the hospital bills, polyclinic bills etc will be on 'private' without subsidy, so I suggest getting the best A-ward restructured or private hospital insurance to cover. You can buy Shield insurance plan for your spouse but will be tied to your name, but charges are based on private rates non subsidy. 4) You are not allowed to buy a 3 room and bigger BTO, unless your spouse is SPR. However, you can buy resale flat and put your foreigner spouse name as a legal occupier if you are below 35. If you are above 35, of course no problem to buy as a single for resale or single for 2-room BTO only. 5) Another issue is your spouse on Long Term Visa may have issues with opening bank account and mobile phone line. Reason is unable to prove residential address in Singapore. The only way is if you have a room rental contract that indicated that the person is living in that residential unit. Alternatively, to use your name on those stuff. Because bank wants prove of address either from utilities bill, rental contract, home ownership letter or insurance letter.
  • Asked by Anonymous

    Julie Tan
    Julie Tan
    8 Answers, 13 Upvotes
    Answered 4w ago
    1. You will need to talk to the banks on how much $ you can borrow. a) If one of you is holding the property in name AND the housing loan, this is going to affect your TDSR of 60%, there will be a limit to what the bank can lend. Talk to a few banks, they can advise you on your combined borrowing power as a couple. b) If one of you is holding the property in name BUT no housing loan, good news, less restrictions, you can borrow more $, you might even be able to leverage on any rental income this property is generating to borrow more $. Just that, the killer is the ABSD. With this information, then you can set a budget and decide on what type of private property you can afford. - The total property price - bank loan = more than 25% of the property price, this is what you need to pay in cash to afford your private property + 12% ABSD, (3% +1% stamp duty) - if, The total property price - bank loan = less than 25% of the property price, you will need to have at least 25% of the total property price in cash for downpayment + 12% ABSD, (3% +1% stamp duty) All these require some math and if the sum is too large for your combined savings to handle, then this plan may not work out as other costs e.g. renovations (will need cash upfront), wedding, furnishings require cash. After these extensive calculations, you might want to speak to both sets of parents to see if they are willing to lend you all some $. 2. With your budget, check on property guru/engage a property agent and discuss with your partner on: an older but larger unit OR newer but shoebox size to 1-2 bedroom unit There are small condominiums 1 bedroom going at 500-700K. In areas that are cheaper, older 2 bedroom condos can be 800K. If the above does not work out, probably have to consider other alternatives: (a) live with either set of parents (b) sell this private property to get your own private/BTO/EC/Resale (c) negotiate to stay in this property in the meantime (d) offer to buy over the current private property
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