Asked by Daniel Lee

What are your personal finance resolutions for 2019?

Here is Seedly's "5 Days of Christmas" Day 3 task! Tell us what are your personal finance resolutions for 2019? And if you'd like, share a little about your personal resolutions as well. For me, my pf resolutions would be to get my finances in order, starting with using the Seedly Money Framework. And personally, to get healthier by cutting down on some bad habits, as well as.. maybe.. exercising. Let's hear yours!

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  • Kenneth Lou
    Kenneth Lou, Co-founder at Seedly
    Level 8. Wizard
    Answered on 19 Dec 2018

    My Personal Financial Resolutions for 2019:

    • Bring my total Investment portfolio value to around $50k or more by end of year
    • Deriving a total dividend yield of around 6 to 7% p.a distributed in quarters ($3,500 cash yield every year)
    • Optimise my REIT portfolio to model the index better so it's more diversified
    • Continually contribute my RSP between $500 to $1000 every month
    • Ensure our Joint Account with my other half continues to grow well (and put at a better Yield location rather than the 1% p.a now) Saw a 2.02% savings account model type (even better than SSB)
    • Buy 2 x Growth stock during the market crash (when it happens)

    Total Returns = Capital Gains (growth stock) + Dividend Yield (REITs)

    Other side resolutions:

    • Grow the Seedly community here while our team also grows! And become Singapore's largest personal finance community centered on the mission to make smarter decisions!
    • Donate some % of my income to charity I believe in (right now it's the Brain Tumour Society Singapore)
    • Lose 10kg and win the weight loss challenge at work - Total pot is worth $1k LOL
    • Try the Keto diet lol.

    I will be documenting my investment journey here on my Seedly profile, so do join me here: https://seedly.sg/profile/kenneth-lou

    Here is the reference from previous years general template:

    Comments (11)
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    • Adam Yam
      Hi Kenneth, do you expect all of your portfolio to derive 6-7% dividend yield? Or is there some growth stock vs dividend stock element to this?
      17 Jan 2019
    • Kenneth Lou
      Hey Adam! Yup annualised return, so both growth and dividend yield combined. Now my dividends are close to 4.5 to 5% so it's decent... need to look for better yielding stocks with incremental growth elements.
      17 Jan 2019
  • HC Tang
    HC Tang, Financial Enthusiast, Budgeting at The Society
    Level 8. Wizard
    Answered on 19 Dec 2018

    My personal finance resolutions for 2019:

    1. Learn to self pick REITS and low cash high potential equity via direct investment as first steps to build passive income stream.

    2. Sign up more classes to upskill / upgrade for better jobs / more income.

    3. Find alternative income stream to save more for better cash flow to invest to reach goal #1 faster.

    4. eXcercise and food control to lose 10kg! :P

    What's yours ? Any suggestions to reach all the above in plan ? :)

    Since we "Never plan to fail but fail to plan!" - Let's work towards our goals by first start planning !!!

    Cheers! Merry Christmas and Happy 2019!

    Comments (4)
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    • Pascal Samsoon
      I'm also watching my weight and body fat for 2019! #weightcontrol
      23 Dec 2018
    • HC Tang
      @Pascal Samsoon High 5! 😄
      23 Dec 2018
  • Yew Khim
    Yew Khim
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    i wish i can make more money whilst sleeping. i meant i hope to earn more passive - not selling my body. haha.

    Comments (2)
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  • Ho Jia Xuan
    Ho Jia Xuan
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    In 2019, I want to

    • Make money doing what I love
    • Give money by donating
    • Read up some financial books
    • Track my budget for expenses
    • Plan for future tradings, fixed deposits to earn some profits
    Comments (2)
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  • Gabriel Tham
    Gabriel Tham, Kenichi Tag Team Member at Tag Team
    Top Contributor

    Top Contributor (Apr)

    Level 7. Grand Master
    Answered on 19 Dec 2018

    I want to go premier banking so can drink free wine

    Comments (5)
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  • Jim Ng
    Jim Ng, Digital Marketing Specialist at Https://swiftturnmarketing.com
    Level 5. Genius
    Answered on 19 Dec 2018

    Financial/Personal Resolutions for 2019:

    1. Invest in Blue Chip Stocks by monitoring market movement. Not sure if the next economic crisis is coming. Given that 1997 Asian Financial Crisis and 2008 Great Recession were roughly 10 years apart, I wonder if it's coming soon! Need to research more on this.
    2. Make $100,000 for the year 2019 through acquiring more clients in my Digital Marketing Agency
    3. Provide more free financial advice on Seedly platform whenever I have the time.
    4. Work out at the gym and get that sick body to impress the wife. Teehee.

    Cheers.

    Enjoy your Christmas and Happy New Year

    Comments (2)
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    • HC Tang
      #4 is hahahahaha
      19 Dec 2018
    • Jim Ng
      It is important leh! HAHAHA
      19 Dec 2018
  • Gloria Neo
    Gloria Neo
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    I have only just started my investment journey this year, after attending my first SGX talk just months ago. So going forward into 2019, I am hoping to be a little more daring when making my first investments. I am also excited to attend more investment talks and learn more from the insightful articles on seedly XD

    Comments (1)
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    • Kenneth Lou
      Solid!! haha That's really good :) Keep going and learning along the way.
      19 Dec 2018
  • Victoria Er
    Victoria Er
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    Save and invest 50% of my take home salary!

    Comments (1)
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    • Kenneth Lou
      This is a good one! very achievable also :) go go go! Especially if you are only starting out now :)
      19 Dec 2018
  • Aaron Lim
    Aaron Lim
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    Firstly My 2019 personal finance resolution would be that to get a better paying job, able to save more than what i saved this year and lastly is to invest my money somewhere to make it grow!

    Secondly is to travel to taiwan and japan as i'm dying to go there on top of that lose some weight!

    Lastly is to learn more about finance management and help people around me to have the habit of savings!

    Comments (1)
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    • Pascal Samsoon
      #weightcontrol you are the second guy who commented looking to lose some weight. Haha. Should form a group for that. Lol
      23 Dec 2018
  • Tanyingfang Janice
    Tanyingfang Janice
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    My 2019 financial resolutions are:

    1) To commit to no spend days

    2) To cut away subcriptions from Netflix and Spotify

    3) Maintain or increase my savings

    4) Broaden my source of wealth

    😊💪🏻🤑

    Comments (5)
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    • Daniel Lee
      Alternatively, you could look at getting the family plan for both and then share the costs with a couple of friends! It'll cost you cheaper per month for the subscription. That way, you don't have to kill the subscriptions!
      19 Dec 2018
    • Tanyingfang Janice
      Heh oki! Thanks for the suggestions :)
      19 Dec 2018
  • Sheryl Koh
    Sheryl Koh
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    Gotten some inspiration online & my specially picked ones are :

    1. Taking the challenge to have some “No Spend Days” in the month! Something new

    2. Tracking my budget more consistently

    3. Cutting bad habits to reduce overall expenses (e.g eating at restaurants less often, avoiding temptation to have desserts all the time after a full meal)
    Comments (1)
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    • Kenneth Lou
      “No Spend Days” are intense! Maybe we should also try that hahaha. For your budget part, we hope we can be part of you in that journey :)
      19 Dec 2018
  • ChiChing Wan
    ChiChing Wan
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    My 2019 Personal Finance Resolution is to 1. find a better job with better work life balance and prefarably higher pay, and 2. save as much as i can for BTO

    Comments (1)
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    • Loh Tat Tian
      My view personally is, if you can beat the 2.6% of HDB loan, it's good to drag out the loan. There are some strategies which some community members have shared. They max out basic healthcare Sum and CPF SA for interest to overflow to CPF OA. This works if you are a decently high income earner.
      01 Jan 2019
  • Priscilla Long
    Priscilla Long
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    For my pf resolution, I aim to further challenge myself to learn more on investment by doing more reading and attending courses next year! Seedly had been my go-to place for reading as a beginner. ◡̈

    Comments (1)
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    • Kenneth Lou
      Solid!! Haha hope we can continue with you on that journey beyond your beginner and intermediate stages :)
      19 Dec 2018
  • Nicolas Leung Jun Wei
    Nicolas Leung Jun Wei
    Level 3. Wonderkid
    Answered on 21 Dec 2018

    My Personal Financial Resolutions for 2019:

    1. Increase my revenue instake as a student, via giving more tuition, taking up internships and part time roles.
    2. Reduce my expenses as a student, emaning eating cheaper meals, less partying, stay away from having a girlfriend.
    3. Stay focus on goals on goals above for now.

    Cheers

    Comments (1)
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    • Loh Tat Tian
      Stay away from having a girlfriend? You might miss out on future partner. Your wife will work with you on personal finance. It shouldn't be costing you much by having a girlfriend if she's wife material.
      01 Jan 2019
  • Guan Winson
    Guan Winson
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    2019 is a brand new year. In the coming year, I will try to polish my knowledge in financing either in saving or investing. I will stick to my plan towards financial freedom. In such a challenging years I ll try to accumulate more value stocks in my basket, involve some p2p crowdfunding to boost the earning. I will also cut some bad habit which which is wasting time and money. In this year I learnt a lesson, do not be hurry, just step by step towards financial freedom. The more eager you are, you might lose much more than you expected

    Comments (2)
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    • Kenneth Lou
      Starting and taking the first step is always good!
      19 Dec 2018
    • Loh Tat Tian
      I like your comments on slow and steady. I was actively reading up investopedia for at least 10 years. And only started investing recently.
      01 Jan 2019
  • John Khaw
    John Khaw
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    In 2019:

    • Ride out the volatility in the stock market now (and have the cojones to watch it nosedive)
    • Invest in REITs, slow but steady stream of income
    • Hold out for 2020 before buying any new phones (wait for 5G!)
    • Do the usual, save wisely.
    • Make a dent in the universe.
    Comments (1)
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  • Rslyne Lim
    Rslyne Lim, On Site Coordinator at VWR
    Level 2. Rookie
    Answered on 19 Dec 2018

    My personal finance resolutions would be to try to increase the percentage that I save from my salary, track my expenditure more diligently and cut down on where I can and to learn & finally do some investments!!

    And finally like everyone else, to lose weight hahahahaha. :D

    Comments (0)
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  • Tay Boon Siang
    Tay Boon Siang
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    Personal finance resolution for 2019 is to start turning in a tidy profit on all my investments. 2018 has been a year of consolidating my messy investments and throwing them into eTFs

    Comments (0)
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  • Chen Zhirong
    Chen Zhirong
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    Wow I was just planning this last night. For about 35k, including bonus, this was how I planned.

    Firstly, TREAT YOSELF. Gave myself a budget of about 5k for holidays and entertainment. Planning to catch the Aladdin and Matilda musical next year! Plus visit North Korea.

    Then, "business expenses" read one or two new cameras. I would really like the Fuji XT3 and maybe the 50-140mm. Or maybe get more Canons and get the 11-24mm? Need some LED lights too. Probably 5k for the lot though I might exceed.

    With the remaining 25k, I plan to put 15k into SRS and invest either in an annuity or stocks, depending on the market. 7k into CPF SA. 7k in my parents' OA. And keep the remaining 1k as buffer or maybe to donate?

    Comments (2)
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  • Beverly Ng
    Beverly Ng
    Level 3. Wonderkid
    Answered on 19 Dec 2018

    In the past, my approach towards "saving" money is cutting down unneccessary expenses (e.g. reduce dining out with friends, cut down on facials, try to avoid taking Grab/taxi as much as possible). Though these are good saving habits, but certaintly unsustainable in a long run as this affects the quality of my life.

    In 2019, I will start to take advantage of credit card promotions or/and make dining reservation through Eatigo app to enjoy more savings without compromising meet-up with friends. When booking hotel for overseas trip, I will also book through Shopback to enjoy greater cashback savings.

    I will also look forward to read more on investment strategies to know how I can grow my wealth.

    Overall, I hope to improve my personal financial knowledge to acheive financial freedom for myself.

    Comments (1)
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