What would you do if you wish to start out with investing, but at the same time, you are also saving for a house deposit and marriage (Singaporean living abroad here, so CPF is out of the question)? - Seedly
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Anonymous

Asked on 19 Nov 2018

What would you do if you wish to start out with investing, but at the same time, you are also saving for a house deposit and marriage (Singaporean living abroad here, so CPF is out of the question)?

I have read many articles from Seedly such as - https://blog.seedly.sg/singaporean-guide-where-to-invest-10000-right-now/

I love how it provides insights on certain strategies such as saving guidelines. However, what happens if you have other saving goals (such as a house, travel, marriage) at the same time?

How would you personally distribute that money?

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MT2020
MT2020
Level 7. Grand Master
Answered on 09 Mar 2020

You should start by planning out your cashflow and how much you will need for your marriage as well as your job salary. Once you have allocated your budget properly, you can then use the remainder of your money for investment.

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šŸ‘
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Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Aug)

Level 9. God of Wisdom
Answered on 27 Feb 2020

First write/think up a priority list and discuss with your spouse.

I feel that marriage is more important than money or houses.

Then avoid debt if possible.

Maybe you want postpone expensive travelling, so downgrade on that

area.

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šŸ‘
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Follow the 50-30-20 rule. 50% for expenses, 30% for housing, 20% as savings.

As you're living abroad & probably having to pay rent, I would consider your rent under the 50% expenses portion.

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šŸ‘
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Question Poster

19 Nov 2018

Hi Andrew, Thanks for getting back. Would you consider the 20% savings to be part of my Emergency Fund buildup?
Andrew Fong
Andrew Fong

20 Nov 2018

My recommended amount for an emergency fund is 3-6 months of your expenses. For your situation, I would take your expenses as excluding your rental as if you lose your job, you will probably have to leave the country so wouldn't have a rental expense to cover. However, if your visa allows you to stay whilst unemployed then please include your rental cost. If you haven't reached this amount yet, then yes the 20% savings portion should be channelled towards the emergency fund. Anything over that can be kept in the bank or used for investing & growth.
Thank You!
Can you clarify
I wonder if
This is so helpful šŸ‘
What about
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