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  • Asked by Anonymous

    Junus Eu
    Junus Eu
    34 Answers, 97 Upvotes
    Answered 11h ago
    I agree with Dawn and applaud him for bringing in the dough for a start! As a working adult, there were times when I would end work very late, and start early the next morning. The last thing on my mind is to start thinking about family finances, not because I don't care, but there are so many things that are burdening me at work. On top of work issues, there would be inevitably people issues, politics, promotion issues that he would need to think of as well. If he lost his job, that would likely be more immediately detrimental than him currently not caring about household finances, especially if he is the sole breadwinner. To think about it from another perspective, perhaps he trusts you wholeheartedly to manage the family's finances! You could always broach the topic on weekends where he might be less stressed, and even start with your children first re: personal finance? You never know, he might start getting interested!
  • Asked by Leong Wen Fong

    HC Tang
    HC Tang, Financial Enthusiast, Budgeting at The Society
    374 Answers, 896 Upvotes
    Answered on 19 Sep 2018
    Best financial decision? Joined Seedly. Learned a lot from seedly co-founder, staff, friends and members in seedly who shared learned a lot. The financial blogger / guru blog shared by seedly. Learned a lot from their sharing / blogs. The product review of seedly, reviewed contributed by past product user of seedly members allow me to check and know more about the truth about the product before getting them. Finally and most importantly : Getting feet wet, trying all things new after understanding and some planning , reading review and started really investing. Never move then I'm going no where , do something , take a step, then at least I see something and understand even better. Cheers ! Thanks Seedly and Members!
  • Asked by Anonymous

    Yong Kah Hwee
    Yong Kah Hwee

    Top Contributor (Feb)

    526 Answers, 707 Upvotes
    Answered on 23 Oct 2018
    I don't buy drinks during meals!
  • Asked by Anonymous

    HC Tang
    HC Tang, Financial Enthusiast, Budgeting at The Society
    374 Answers, 896 Upvotes
    Answered on 20 Sep 2018
    I use honest bee which also have hawker. Also tried grabfood. The only problem with all three of them is that they always offer something nearby you only. So not that nice since most of it is also within walking distance where i can walk to buy. Nevertheless, check out Seedly review: https://blog.seedly.sg/food-delivery-comparison-deliveroo-foodpanda-honestbee-grabfood/
  • Asked by Anonymous

    Junus Eu
    Junus Eu
    34 Answers, 97 Upvotes
    Answered 5d ago
    Coming from someone who started working from a young age, I highly recommend it. Not sales, but any job. And, also not so much to earn money from the get go, but starting to work at a young age really instils two values: 1. It takes hard work. I know of peers who come from wealthy families, and for them, having money is a given. But the realization when you need to start earning your own keep is very rewarding. 2. The value of thrift. When you start to earn your own money instead of getting it from other sources, you will then really examine where you are spending your money.
  • Asked by Anonymous

    Soon Xiaohui
    Soon Xiaohui
    32 Answers, 102 Upvotes
    Answered on 10 Jun 2018
    Since you are self-employed, your saving may be different & the way you handle will be much different too Especially if you cash flows comes in big amount. What I can suggest is, 1. List down what is your monthly expenses then multiply by how many mths (this is for how long that your big amount is expected to last you) 2. Set aside emergency fund 6 to 12 times of your monthly expenses. (some trades, only receieve pay maybe after few months, therefore your emergency fund will be more than the usual scenarios) 3. Set a min target of saving (fixed amount) and the rest will be additional. How to set a fixed amount: find your average income per month & use that as a guideline to allocate a % to save up. Usually saving is 20 to 50%. this amount includes for investment/retirement etc. After identify it then you may start doing investment like the rest of community. Hope this helps you to understand how you may be able to handle. :)
  • Asked by Anonymous

    Siti Putri
    Siti Putri
    22 Answers, 83 Upvotes
    Answered on 25 Sep 2018
    Do you think this GF is someone you want a long term relationship and eventually getting married to? Surely besides her spending habits, she might have other good qualities? If this is going to be a long term relationship, talk things out with her. Sometimes some people need to know the "why" not just by "telling her to save". Regardless your GF, the important thing is you think and plan for ownself first. Create small goals like save $10k by 2019, or save $100 a month or 20% a month or save 6 months worth of expenses etc. If it is hard to save, then automate it. Set up automatic transfer to another account to be set aside as savings on your salary pay date so that you don't get tempted. Besides savings, track your monthly expenses to know what you are spending on and where to cut down. You can advice your GF to do the same thing. Supposing if one day you decide to marry your GF, some money is needed for the wedding, home, renovation..so at least if you have started with your savings first will be good. If you already talked maturely to your GF, and she still not heeding your advice despite giving her time to think through, suggest to change GF. Sorry, I am not trying to be wet blanket but having similar values is important in a marriage. Top cause for divorce is 'money', so spare yourself the suffering if both cannot see eye to eye on the concept of money.
  • Asked by Anonymous

    Junus Eu
    Junus Eu
    34 Answers, 97 Upvotes
    Answered 6d ago
    Like the others have mentioned, it's key to find your own accommodation first. I personally would set aside a budget for this, as well as alimony and other big cost buckets. Additionally, you might need to add mortgage payments for the HDB, depending on whether the HDB has been fully paid for already. Next, I would look into insurance coverage. Ie. Is there enough to protect yourself, or are there even insurance policies that don't serve you now at 46? I guess six months of cash set aside seems to be the general rule of thumb - I would then look at investing the rest, depending on your risk appetite. Apart from financial investments, invest in yourself. This could be anything from health (because we all know how expensive it can be should one not be well), to doing the things you always wanted to do in your life. As the saying goes, the best things in life are the people you love, the places you go, and the memories you make :)
  • Asked by Anonymous

    Junus Eu
    Junus Eu
    34 Answers, 97 Upvotes
    Answered 6d ago
    I started saving prior to University as I needed to pay for my university studies and refused to take on any debt. Thus, saving money as early as possible is something that I am a strong advocate of, and also passionate about. I always reference Burton Malkiel, the author of A Random Walk Down Wall Street. He describes the power of compound interest here: William, starts saving $4,000 a year when he is 20 and stops after 20 years, after having saved $80,000. His brother, James, starts saving $4,000 at 40, and does so for 25 years, for a total of $100,000 saved. They each earn 6% on their savings. At age 65, William will have $850,136 in his account, while James will have only $219,242. Despite having saved less, William's nest egg will be almost four times greater because of compounding. TL;DR: Start Early.
  • Asked by Huanmin Huang

    Lim Wei Siang
    Lim Wei Siang, Financial Consultant at Advisors Alliance Group - Aia Fa
    12 Answers, 12 Upvotes
    Answered 2w ago
    You will have to determine your budget and comfort level. I’m afraid no one has the ability to determine that for you. If you did set up the CDA, that is one avenue that you should not forgo. Based on: - Your budget - How long do you intend to save/invest - Risk appetite Endowments, ILPs or Regualr Saving Plans from banks are some of the available options. Actions leads to reactions/consequences. Choices available depends on the knowledge you hold. Get more information to increase your choices and then you will be able to make a decision that is best for you.
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