Hi There,

Saving money is like having a sundae without the toppings! Buy and eat what is essential and not getting those extras that will make things heavenly. Is it really important to save? Not necessary if you are spending on investments¬†wisely, who needs to save? Spending boosts economy hence you are doing your part for the country’s GDP!

However, if you are not able to protect your money, then better take the easier way for a safer net, SAVE!

http://business.asiaone.com/personal-finance/investments-and-savings/4-singaporean-habits-are-complete-waste-money20151024_wastemoney (1)

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Increase of unsecured debts in Singapore

http://business.asiaone.com/personal-finance/news/85352-singapore-consumers-owe-2884-million-unsecured-debt20151005_owedebt

Is this necessary a bad thing?

Banks had been very aggressive lately giving out low interest rates personal loan. As low as 0.8% interest per annum with no processing fee is too enticing to reject. Normally, these personal loans are given at promotion for only 6 months and the interest rate will shoot back to the exorbitant rate of 24%. The bank game on making a profit for personnel that illy managed their money.

However, if you are a master to the money, this a profitable for you FOR FREE!

CIMB offered a 1.6% return per annum fix deposit for minimum 9 months. If you had taken the money from one bank and cash deposit into CIMB FD, would you have gain the extra 0.8% for doing a little only? If your have a credit limit of S$48,000 based on 4x income rate, you would have earn extra $288 just for doing nothing over that 9 months. It is a free trip to Bali.

However, this game is only for the discipline. It is hard to resist not to spend seeing $48,000 liquid cash.

Nevertheless, this is how the rich play the safe game at a bigger denomination!

STOP WASTING MONEY AND STOP SPENDING YOUR KIDS’ INHERITANCE

https://sg.finance.yahoo.com/news/3-money-wasting-attitudes-singaporeans-010028671.html

Seriously, this is something never never taught in school.

The education system only taught us how to make money but didnt complete the syllabus on how to hold and grow money. we only got 1/3 of the knowledge on financial management despite spending 16 years in school! haiz

Avoiding Big Losses : It is a science and art!

avoid big losses

How has to be learnt must be learnt.

What is to be unlearnt will be after a serious punishment or lesson.

If after falling, and not pick up anything, the fall is misspent!

From Sunday Times, 5th july 2015 Classified

What to do to build a nest egg now? With assistance from the government program.

SRS nest egg

Retirement is a scary affair if you are not planned and ready for it.

Many of the working generation cannot wait to retire as they are tired of seeing their bosses, handling office politics and even being a positive leader in a firm or company can be a draining ordeal.

Hence, with SRS, it is one of the many ways to increase your nest egg! chew on it!