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SG Budget Babe

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Stocks Discussion

Investments

SG Budget Babe

Family

You have a full time job and a family. How do you squeeze out time for yourself to learn investing?
Bjorn Ng
Bjorn Ng
Level 9. God of Wisdom
Answered on 08 Dec 2019
Everyone has different priorities in different stage in life, and that's totally understandable. For me, as simple as it might sound, we always have a choice in what we want to do. It's all about "allocating" the priorities. To answer your question, I choose to read updates from my investing community rather than general market news (for eg). It's about choosing which "makes more sense" to you. It's never easy, and sacrifices have to be made sometimes, but at the end of the day, we all made the best choice we see fit at any point in time :)
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Investments

Family

SG Budget Babe

Savings

Savings Accounts

How do you convince your parents that money in the savings account is just rotting away and should be taken out to invest?
Rais M
Rais M
Level 7. Grand Master
Answered on 26 Feb 2020
My parents are not that young anymore and I do not want them to take or feel that they are at risk when it comes to investment. After much consideration, I decided not to convince them to invest their money, but rather, I will invest more of my money to support them somehow. I am their retirement plan.
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SG Budget Babe

Lifestyle

Savings

Investments

Career

Freelancers

What are some freelance/side jobs that you have on top of your full-time day job?
Amelia Leow
Amelia Leow
Level 5. Genius
Answered 6d ago
On top of school, I give private tuition in a subject that I'm personally interested in. Some of my friends also do freelance writing on Fiverr.
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Lifestyle

Education

SG Budget Babe

What would you do if you are the only child, but do not have parents as role models for financial literacy?
You join communities like these ones! Read, read, read, and digest. I'd follow as much financial blogs, content, news as I can and connect with others who seem to know their stuff. Financial literacy is both practical and theory. Start with the theory, and then apply it in your everyday life. You'll only learn once it looks like you're making some progress with your finances.
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Stocks Discussion

Investments

Savings

Retirement

CPF

SG Budget Babe

Commodities

Gold & Bonds are falling along with the stock market. Any theory why?
Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Jul)

Level 9. God of Wisdom
Answered on 14 Mar 2020
Pure panic, good (but random) entry point, I would abstain from bonds however.
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SG Budget Babe

In your honest view, do you think buying a car is a wise (financially) decision in Singapore ?
No. Costs involved are too high. Often, we forget that beyond the monthly installments, you have to account for petrol, inspection, insurance, parking, maintainence, ERP, and did I mention petrol? Even a 1.6L sedan will likely cost $1500/mth at this point. Even if you were to get around half of the time by taxis, you actually save the trouble of having to find parking lots, and can even doze off until your destination. With the state of driving in Singapore being this stressful, I'd rather be driven to my destination than drive there myself. However, there is a possibility that a car may in fact help you since you don't have to rely on PHVs which can be tricky to book during peak periods, your car is always yours to drive as and when you like. So the question would be, compared to a $1000/mth taxi bill, is the $1500/mth you are paying for a car worth the convenience? Some might say yes. There's no right or wrong answer.
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Investments

Property

Loans

Retirement

CPF

Savings

Family

SG Budget Babe

MileLion

What are the significant expenses ahead that I should start planning for, as a young guy who is getting married soon? Wedding, housing, car, kids, parents etc. How are you planning for retirement?
Choon Yuan Chan
Choon Yuan Chan
Level 9. God of Wisdom
Answered on 24 Dec 2019
You name most of them already. As for the planning for retirement part, i am actively expanding my knowledge on investing so that i can improve the rate of returns on my savings by being able to invest effectively and efficiently
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Savings

Cashback

SG Budget Babe

Credit Cards

Would you pay through instalments to reduce the immediate costs, or pay the full amount to earn a higher cashback?
Hi anon, I would just pay in full. There is no reason to pay in installments if you can afford it. Usually, even a 0% installment plan has some kind of fee built in it. If it feels expensive, then I will probably just save a little more and buy it a few months later. And it probably means what I wanted is a want, and not a need. The only things that you should be paying in installments (at least, to be prudent) would be stuff like a mortgage or a study loan. Such amounts are huge and this is where an installment will help reduce the sting. Furthermore, a mortgage provides a room over your head, and furthering your studies helps to improve your value and employability, so taking a loan for that is actually ok. I would rather be debt free than bleeding money when the pay cheque comes in.
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SG Budget Babe

Family

Savings

Lifestyle

What is the best way to budget if I am planning to migrate to another country?
Hi anon, I'll refer you to this website: https://www.numbeo.com/cost-of-living/in/Singapore It should give you an idea of how much certain things cost in Singapore. Then, depending on your lifestyle, you can estimate your cost of living here. If you are going lean, you should get by on $1000-$1500/mth excluding rent. If not, then it depends on how you'd like to live. If you are renting, https://www.propertyguru.com.sg/ will give you an idea of how much it costs to rent or buy a house in Singapore, or even a room. As I'm not sure about how you intend to live, you'll have to play around with those websites to get an idea of the numbers. Renting a room is anywhere from $500/mth onwards, and up into the thousands if you want a whole flat or condo unit to yourself. So this really depends on your preference. Good luck!
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Investments

SG Budget Babe

Investment Courses

Personal Finance 101

Anybody attended Budgetbabe investment course?
Wilson Nid A Break
Wilson Nid A Break
Level 9. God of Wisdom
Answered on 26 May 2020
Just go to Libbyapp.com, login via your NLB account. You can borrow tons of ebooks on personal finance / value investing
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