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!
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
I totally agreed to this piece of news. It is very relevant as I do not use anyone of this items.
it can save you at least $100 each month! And you get a fully paid trip and full board to Koh Samui every year!
adapted from Bishan Toa Payoh Newsletter 3rd Bi-monthly 2015
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
Lessons are to be learnt and not to be a model for replay!
However, in the world of investment, it is just a recurring scene just that it is at different timeframe!
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!
This is a generic way of managing your expenses. Generally, as long as the expenses is much lesser than earnings, you are in good shape. Now, the challenge is how to enjoy lavish items by paying minimum? Stand by for more!!