- Frugal Living
- Life Chapters
- Say What?
- Expat Guide
- Your Money
- Ask MoneySmart
- Smart Tools
For years you’ve taken a cut from my paycheck under the promise of social “protection.” In a way, you’re like a very well-intentioned gangster, protecting my money from well… me right?
Getting rich is like playing the guitar well, or winning a marathon. As cool as you may think it is, your body disagrees. So does the part of your brain which moans at the thought of work. That’s why it’s so impossibly difficult for us to get off our butts, and start training to do these things. Our new guest columnist Lionel Yeo tells us how to trick our weak, weak spirits into hoarding the dollars:
There’s nothing like the feeling of driving your very own vehicle to work every day. It marks that special transition from the intimate closeness of morning MRT travel (you know what I’m talking about) to controlling your commute destiny.
The Singapore government encourages citizens to save. In pretty much the same way they “encourage” you not to litter, and policemen “encourage” crack dealers to surrender. It’s mandatory, is what we’re saying. Hence, the much grumbled about Central Provident Fund (CPF). In this article, the crew at MotleyFool explains how it’s more flexible than we think:
Now that I’ve promised never to be involved, peer-to-peer car sharing is taking off in Singapore. You people; just because I’ve had a few accidents doesn’t mean you shouldn’t rent to me, dammit. “There’s like, a department in the insurance company named after you“. Heh heh, yeah, my premiums now exceed my COE. But assuming you’re not like me, have a look at this new car sharing system:
Credit card bills: Like someone took a sledgehammer to the groin, found a way to package the pain, and then mailed it to you in triplicate. For anyone with multiple lines of credit, sorting through their bills is as pleasant as chewing rusty nails. With that many cards to pay off, which one deserves the most attention? With some help from SmartCredit.sg, I explored some strategies for handling your credit card bills:
What if I told you I’m going to eat as much as I can now, so I won’t have to eat next year? Yeah, stupid, and a good analogy for saving to get rich. There’s a huge difference between “rich” and just “not poor”. Investing makes you rich; saving keeps you from bankruptcy. Good financial sense is a balancing act between the two: not letting your money stagnate with savings, and not blowing it on bad investments. In this article, we dispel some common myths about savings:
As of 2011, there are almost 25,000 un-discharged bankrupts in Singapore. The good news is the number of bankruptcy cases has dropped, by more than 20 percent since the ’90s. And now that MoneySmart is up, no one will ever go bankrupt again. I mean, have you been reading my articles? My advice is so good, I discharge a bankrupt every time I twitch. But just in case I’m exaggerating a bit, here’s an article that explains what bankruptcy entails:
Saving money is the first step to financial freedom. A little baby step though, and it’s not going to win you the rat race. In Singapore, interest rates are rising faster than a fat man’s blood pressure at bacon buffet. To meet it head on, you need financial growth as well as savings. In this article, Mr. Propwise examines the dangers of stagnant savings:
Ever since the fall of Lehman Brothers, structured deposits have been the financial world’s equivalent of leprosy. If you’re selling them, no one even wants to inhale near you. But as of 2010, structured deposits have been creeping back into the Singapore market. Banks like UoB and Citibank have made some enticing offers; and public opinion has gone from “lol” to “Umm…maybe”. So, are structured deposits a good deal?