your savings can last you....
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it is not how much you earn but how much you spend.
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That means u got prucash at least 8yrs ago??Originally posted by makiko:me???? mid twenties
Is there prucash 8yrs ago??? -
if input < output, spend too much
if input = output, no saving
if input > output, saving -
y notOriginally posted by EkBoy:That means u got prucash at least 8yrs ago??
Is there prucash 8yrs ago???
heard tat the interest is higher at that time -
Are u an agent??Originally posted by makiko:y not
heard tat the interest is higher at that time -
he said at that time mahOriginally posted by tokyofire:Are u an agent??
hmm.... -
its a auntie. she just kaypohOriginally posted by shinta:he said at that time mah
hmm.... -
I wonder how he support a $200 policy when he was 17 years old..Originally posted by shinta:he said at that time mah
hmm....
Cashback endowment plan like Prucash is a recently thing, best part is the flexibility of cash value taken out @ no interest rate but once taken it'll affect the whole surrender value.. -
There is a saying: The best way to save is to spend wisely.
In fact, spending money is a skill in itself, which unfortunately, many people have not mastered (Me included). I have read articles about millionaires in the US, and found out that many of them bought a used car instead of a brand new car; and lived in terrace houses instead of bungalows (Note: Terrace houses in USA is almost similar to HDB flats in Singapore).
The most important thing is to live below your means. Of coz, some may think that people might look down on you should you not pursue the "high" life, but think deeper, when you are in debt, down and out, who will care about you? Therefore, I believe that, as mature adults, most of us are able to guage how much savings we need, it all depends on willpower.
This reminds of another saying: We often spend the money we have not earned, only to impress those people we do not care about. -
cash back is $1500 per yrOriginally posted by tokyofire:I wonder how he support a $200 policy when he was 17 years old..
Cashback endowment plan like Prucash is a recently thing, best part is the flexibility of cash value taken out @ no interest rate but once taken it'll affect the whole surrender value..
i've nv take out any cash back yet....so...at the end of 25yrs.....it will be like 80k over, if i'm not wrong
interest if i'm not wrong should be 5.25%
y i'm able to support a $200 policy when i'm 17 is bcos my pocket $$ given by my dad is $500 per mth
hope tat this will clear ur doubt
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U're a lucky chap... $500 allowance...Originally posted by makiko:cash back is $1500 per yr
i've nv take out any cash back yet....so...at the end of 25yrs.....it will be like 80k over, if i'm not wrong
interest if i'm not wrong should be 5.25%
y i'm able to support a $200 policy when i'm 17 is bcos my pocket $$ given by my dad is $500 per mth
hope tat this will clear ur doubt -
think what her bf shld do is to repay all his debts and not incur more while he still has a job.Originally posted by Peppermint:apparently...her bf owes abt 3k of credit card debts and has almost close to 0 savings...part of the money is spend giving to parents (abt 400-500) and payment of insurance premiums (abt 400)...the rest about 1.5k?? no idea....most likely on entertainment...and daily expenses...
the 0 savings is frightening (to me at least) despite him getting about 2.5k (after cpf). more importantly..how is he going to finance his premiums and lifestyle while he is looking for a job?
As for now and closer to his termination of contract, quickly go find another job, so he doesnt need to surivive without income for long... maybe can try talking to his parents to cut abit of allowances. As for e insurance premium, we might not know if he is buying more than he needs, only he himself and his advisor will know, coz we dont know his health status and maybe he himself agressive, wanna buy alot so that he can have alot more for his retirement.
Mostly importantly, cut down on his spending.. if he has 1.5K left and zero savings, it might mean that he just spending tooo much liao. -
Out of 100% pay, Gross 1.7K
25% go into insurance (100K Life, 20K Endowment, 200k Investment Link)
15% for expense (Include transport, food and maid levy for granny)
60% for saving. (2 X POSB SAYE, CPF, Soon to start 1 X OCBC MSP)
Am i on the right track? -
I've got an advice on how to live a simple life......
You just have to appreciate the finer things in life.....Basically, ur emotional and spiritual well-being....if u've taken care of these, u definitely won't feel any 'poverty stress' kinda feeling, no matter how little u spend and how simple ur lifestyle is.
Like, if u go out to fancy restaurants to 'feel something' and 'get something' out of it, actually when u are content emotionally and spiritually, even when u eat at home with simple food, u will 'feel' and 'get' something much better, and ur whole consciousness seem to be filled with calm joy and satiety. In this case, it doesn't matter at all that u didn't go to the fancy restaurant. Instead, u probably wouldn't feel like going.
Sometimes when u see around u......in life.......New parents, they become so happy, stay at home alot, play with the baby, caring the baby......Do u see them change a lot? Coz now they 'see' and 'experience more' of their emotional/ spiritual side.
And me too....personally I've got the same experiece.....just not exactly with a baby, but something similar, which made me change my view of life.
U just take care and invest/ build up on ur emotional n spiritual well-being, instead of 'focusing' so much on the material well-being. And when u reach a point, u will feel so contended, a simple lifestyle or a flashy lifestyle is not that important to u anymore. -
ha ha,so i am not the only without any saving.Originally posted by sonicworld76:No i dun have, i will die on the spot
thinking my online bookies will pity me and help out if i really out of job after donating basically half my pay to them every mth? -
Though i havent really started working out in the society,in my opinion,savings are invaluable for a rainy day and also to raise a family. Advice to people out there,just be money wise with things that u buy. Also,dont grab up credit cards immediately when u start working,and spend more than u earn otherwise u see that u end up owning the banks money,18% p.a is not a joking matter.Originally posted by seancannot:Savings - Just sharing my fren case
My fren 35 yrs old has set aside a few type from what he told me
Retrechment saving,Family contingency incase need to hospitalise or funeral ,Future capital investment (set up own business incase retrench),Children Education.
This fren of mine is an accountant so is his wife combined they made 10 K ++ yet they live in a humble fully paid up 4 room flat and dun own a car.. esimated his saving at least 300 K ... he very careful and only allocate a small portion on share investment ...
Frankly, with this kind of wealth I will live it up and buy a nice car to drive rather than squeeze in public transport for 1.5 hour everyday .but he very scrooge ...dun even order drink when go for lunch together he will bring his own water. and he seldom dine at resturant...cos he said waste money .. his TV home appliance also 2nd hand
Guess he is the richest fren I have
Have dinner at home is the best,having home cooked by parents are still the best. Plus the relationship gained thru having small little meals with parents everyday.
BTW that family above i quoted is too...meticulous. Its time to enjoy life already!
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Originally posted by mistyblue:its a auntie. she just kaypoh
makiko is an auntie?
hmm oh ya hor.. female name
paiseh >.< -
yeah...Originally posted by tokyofire:I wonder how he support a $200 policy when he was 17 years old..
Cashback endowment plan like Prucash is a recently thing, best part is the flexibility of cash value taken out @ no interest rate but once taken it'll affect the whole surrender value..
haiz..
at least they offer u the flexibility to take out the money by a certain number of years
right now is, startin of 3rd year can withdraw the money liao if i remember it correctly
maybe her parents paid for it in the beginning? -
x2 i dun hav the luxury of gettin allowance from the familyOriginally posted by tokyofire:U're a lucky chap... $500 allowance... -
makiko is an auntyOriginally posted by shinta: makiko is an auntie?
hmm oh ya hor.. female name
paiseh >.<
makiko is a B!tch
makiko likes to eat sh!t
this is wat she mean
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no choice, i rely alot on cabOriginally posted by shinta:x2 i dun hav the luxury of gettin allowance from the family
but now, i dun mind walking from dhoby ghuat mrt station to orchard mrt station
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Agreed. As long as u r working, u r fine... but one have to save up for the un expected turn of events in the road of life.Originally posted by parn:I'm low maintence, so I don't worry much. You'll won't die of hunger in Singapore as long as you're willing to work. In fact, plenty of money to be earned.
Stay away from any financial burdens, including installments and insurance and credit cards. Cos in Singapore, it is difficult to work in a stable job unless you're working for the government. So having any unnecessary financial burdens are no-no.
Saving up is the right way to go, but unfortunately nowadays there's tons if places to shop and items to buy. I also surrender to my temptations once in a while...lol...once in a month.
Hahaha...whatever it is, don't overspend and buy more things than you can afford. :-P
Out for lunch now.
IMHO,
Insurance is needed for these unexpected turns on the road... but do no over stretch urself.... (typical is a 10% of net pay goes to insurance).
Credit Card. If use wisely, u will benefit. U have to track ur expenses. The bank earns by the late payments interest and therefore do not allow them to do it to you... if u r the one tat pays promptly, then on top of getting one more credit term interest, u also gains spending points which can translate into something substantial (like a free holiday). -
i was runnin late today.. n i was tinkin, if only i have my own bike..Originally posted by makiko:no choice, i rely alot on cab
but now, i dun mind walking from dhoby ghuat mrt station to orchard mrt station
65cents per day, and... it's wat? 20 min frm my place to orchard -
i can't do that.. i tend to overspendOriginally posted by diggo:Agreed. As long as u r working, u r fine... but one have to save up for the un expected turn of events in the road of life.
IMHO,
Insurance is needed for these unexpected turns on the road... but do no over stretch urself.... (typical is a 10% of net pay goes to insurance).
Credit Card. If use wisely, u will benefit. U have to track ur expenses. The bank earns by the late payments interest and therefore do not allow them to do it to you... if u r the one tat pays promptly, then on top of getting one more credit term interest, u also gains spending points which can translate into something substantial (like a free holiday). -
Once u have been down this path... the fear of losing everything and all the material goods of life will be gone. U have been there and done that.Originally posted by starblue:abot 3 months. if i dun give mum and brothers money. and walk to school instead of taking bus. and dun take breakfast, it can last me up to 9 months.