2 in 3 sinkies do not have savings beyond 6months

[Jamesc]

On 6/1/2020 at 3:37 PM, kobayashiGT said:

What is the returns. hahaha.

I got my so ta piang tin can. I can keep my money inside!

There is no perfect investment strategy you just have to choose one that you feel comfortable with one.

One way is to buy Apple, Google, Facebook, Netflix and Amazon.

Next time you see a fren with a new handphone you ask him is it Apple or Android and whether he says Apple or Android then just think kaching some more money coming to your wallet.

Then when you see an interesting Youtube video send to all your frens by Facebook or Whatsapp. Every time they watch the video like Gangnam style then kaching more money is coming to your wallet.

Every time a fren buys something from Amazon then kaching more money coming into your wallet.

 

Remember every time someone watches a Youtube video kaching more money coming into your wallet.

Must choose videos people like to see. People like sex videos like this.

https://www.youtube.com/watch?v=T2QT63Ee8Jw

 

Edited June 2, 2020 by Jamesc

[Ct3833]

23 hours ago, Yewheng said:

It's actually not shocking..

Like Look at many who is on the higher income range, these people drive flashy cars, stay in condos, go out expensive restuarents and eat. Do majority of these people after spending all these money still have enough money for savings? Many perhaps are taking huge loan for housing, cars.

 

Then now down to the middle class people, with cost of living keep increasing and salary increase keep up with inflation. Many had commitment like housing loan, child expenses and etc. How to save? 

 

Then of coz the lower income group, that one no need say further.. Can't save much. 

 

I think it is just not singapore, its happening all over the world. Its quite bad.

Wah high income no saving    middle income no saving, low income also no saving, like that 3 in 3 cannot survive more than 6 months liao  , good to know I am not alone.😄😄

[Yewheng]

7 hours ago, Ct3833 said:

Wah high income no saving    middle income no saving, low income also no saving, like that 3 in 3 cannot survive more than 6 months liao  , good to know I am not alone.😄😄

Think those in Europe, America is much worst. Don't say 6 months, I think many don't even have savings to last them for 1 month should they lost their job. 

Edited June 2, 2020 by Yewheng

[Scion]

younger people will experience their first recession in their careers this year

maybe they can learn some lesson 

fewer Starbucks drinks, less changing of new iPhones, fewer holiday trips... for more savings in future perhaps

[kobayashiGT]

9 hours ago, Jamesc said:

There is no perfect investment strategy you just have to choose one that you feel comfortable with one.

One way is to buy Apple, Google, Facebook, Netflix and Amazon.

Next time you see a fren with a new handphone you ask him is it Apple or Android and whether he says Apple or Android then just think kaching some more money coming to your wallet.

Then when you see an interesting Youtube video send to all your frens by Facebook or Whatsapp. Every time they watch the video like Gangnam style then kaching more money is coming to your wallet.

Every time a fren buys something from Amazon then kaching more money coming into your wallet.

 

Remember every time someone watches a Youtube video kaching more money coming into your wallet.

Must choose videos people like to see. People like sex videos like this.

https://www.youtube.com/watch?v=T2QT63Ee8Jw

 

Yeah. the FANG gang.

But I never brought US stock before. buay hiao (dunno how) hahah.

[Yewheng]

23 hours ago, Scion said:

younger people will experience their first recession in their careers this year

maybe they can learn some lesson 

fewer Starbucks drinks, less changing of new iPhones, fewer holiday trips... for more savings in future perhaps

Education, social pressure, cost of living all plays a part. Education, yes we can inculcate people to save for rainy days from young. Social pressure, this one harder, coz many people see other people have this thing, that thing, they also want, and see they have money to buy that and go and buy and then after that no more savings left.

Now left the cost of living, this one plays a big role on people ability to save too. When cost of living keep rising and people wages don't rise as fast, how will people able to save as much as they would like previously? That is make worst by ever increasing direct and indirect tax. I don't know but the 100 billion spending confirmed will end up be put to pressure for government to want to raise direct and or indirect tax to recoup the money back in the future. So cost of living will continue to rise no matter what. 

 

Government is stuck on one hand want to ensure to reduce number of jobless people admid this covid-19 pandemic as much as possible, want to help people to tide over this difficult period. Then at the other hand, if spend too much money to help out during this pandamic, they will need to recoup back all these money at later date and then resulted in further rise in cost of living. There is one thing I feel that government haven't really tried it out. I feel it could help.. This is to see which area still have a lot of red tape and go and reduce it. The a lot of red tape also hinders businesses to operate effectively, especially when need to go through so many paperwork and checks. The cost involved in these red tape for businesses if could be saved, it would certainly help in terms on passing it down to pay employee salaries and or hire people. 

Edited June 3, 2020 by Yewheng

[Neost]

On 6/4/2020 at 7:26 AM, Yewheng said:

.. This is to see which area still have a lot of red tape and go and reduce it. The a lot of red tape also hinders businesses to operate effectively, especially when need to go through so many paperwork and checks. The cost involved in these red tape for businesses if could be saved, it would certainly help in terms on passing it down to pay employee salaries and or hire people. 

On one hand, we need to get businesses to open and for factories machines to start running to save jobs and companies.

On the other hand, we going around threaten to fine and close businesses who can't meet all the covid-19 measures… 

If I am running a SME for a while, middle age (late 40s to 60), has some reserve in the bank and other investment, I will be seriously consider closing the Company as of current situation with so many rules and policies and being threaten every time by those scholars formulating policies inside ivory towers

 

[Yewheng]

25 minutes ago, Neost said:

On one hand, we need to get businesses to open and for factories machines to start running to save jobs and companies.

On the other hand, we going around threaten to fine and close businesses who can't meet all the covid-19 measures… 

If I am running a SME for a while, middle age (late 40s to 60), has some reserve in the bank and other investment, I will be seriously consider closing the Company as of current situation with so many rules and policies and being threaten every time by those scholars formulating policies inside ivory towers

 

Ya precisely that's my point. The regulations keep on increasing year by year. Such that there will be a point where the cost of compliance is too much that companies decide that's it let's close the business.. 

 

Yesterday pm Lee posted on the foreignaffairs that is wrote.  On what he wrote, he did mentioned on the 1970s free trade. So much so fast forward it is so regulated that businesses are not free to decide on anything. Everything like government decide, if that's the case why not government take over the whole countries all business operations? From banks, to SME. 

 

https://www.foreignaffairs.com/articles/asia/2020-06-04/lee-hsien-loong-endangered-asian-century

Edited June 5, 2020 by Yewheng

[Icedbs]

On 6/3/2020 at 7:58 AM, Scion said:

younger people will experience their first recession in their careers this year

maybe they can learn some lesson 

fewer Starbucks drinks, less changing of new iPhones, fewer holiday trips... for more savings in future perhaps

I am still using iphone 6.  Still working well, except that the SafeEntry thing doesn't work on it. 

[Alfc]

On 6/3/2020 at 7:58 AM, Scion said:

younger people will experience their first recession in their careers this year

maybe they can learn some lesson 

fewer Starbucks drinks, less changing of new iPhones, fewer holiday trips... for more savings in future perhaps

A lot of the lifestyle these days are supported by spending future money. Future money comes with preset assumptions. Many of these are "feel good look good", "been there done that", "YOLO" and that everyday in future is in LaLa land with only sunshine, rainbow and unicorns. Hyped up by media and constant padding of each other's shoulder on job well done through social media platforms. 

People who dun sing the same tune gets "suan" and side-lined. There is a lot peer pressure and self consolation that everything is "bo bian" when there is actually a choice, perhaps a not-so-popular one. Just look at the "full cash" popular backlash remarks here and you can have a sense of the denial. I find a lot of the full cash philosophy breached here is about financial prudence, and not a simplistic flaunt of financial wealth.  But oh well, I guess the only best lessons are real-life knocks, so just have to go through the s**t to grow up wiser in life.

[Scion]

11 minutes ago, Alfc said:

A lot of the lifestyle these days are supported by spending future money. Future money comes with preset assumptions. Many of these are "feel good look good", "been there done that", "YOLO" and that everyday in future is in LaLa land with only sunshine, rainbow and unicorns. Hyped up by media and constant padding of each other's shoulder on job well done through social media platforms. 

People who dun sing the same tune gets "suan" and side-lined. There is a lot peer pressure and self consolation that everything is "bo bian" when there is actually a choice, perhaps a not-so-popular one. Just look at the "full cash" popular backlash remarks here and you can have a sense of the denial. I find a lot of the full cash philosophy breached here is about financial prudence, and not a simplistic flaunt of financial wealth.  But oh well, I guess the only best lessons are real-life knocks, so just have to go through the s**t to grow up wiser in life.

 

maybe for youngsters, the money can be earned easily?

heard social media influencers with 100k followers can earn 5 digits from sponsorship and dunno what deals

[Sdf4786k]

On 6/2/2020 at 8:54 PM, kobayashiGT said:

Nah. Not interested in dicks.

You got experiences in this arh?

I think @RadX meant mail order bride ?

 

[Throttle2]

3 hours ago, Neost said:

On one hand, we need to get businesses to open and for factories machines to start running to save jobs and companies.

On the other hand, we going around threaten to fine and close businesses who can't meet all the covid-19 measures… 

If I am running a SME for a while, middle age (late 40s to 60), has some reserve in the bank and other investment, I will be seriously consider closing the Company as of current situation with so many rules and policies and being threaten every time by those scholars formulating policies inside ivory towers

 

This is the bottomline truth. 

[Throttle2]

59 minutes ago, Alfc said:

A lot of the lifestyle these days are supported by spending future money. Future money comes with preset assumptions. Many of these are "feel good look good", "been there done that", "YOLO" and that everyday in future is in LaLa land with only sunshine, rainbow and unicorns. Hyped up by media and constant padding of each other's shoulder on job well done through social media platforms. 

People who dun sing the same tune gets "suan" and side-lined. There is a lot peer pressure and self consolation that everything is "bo bian" when there is actually a choice, perhaps a not-so-popular one. Just look at the "full cash" popular backlash remarks here and you can have a sense of the denial. I find a lot of the full cash philosophy breached here is about financial prudence, and not a simplistic flaunt of financial wealth.  But oh well, I guess the only best lessons are real-life knocks, so just have to go through the s**t to grow up wiser in life.

Finally!!!!!!

🙏🙏🙏🙏

 

[RadX]

4 minutes ago, Throttle2 said:

Finally!!!!!!

🙏🙏🙏🙏

 

Nabei 

 

I agree w you and u dun hew me

 

 chey😂😂

[Alfc]

26 minutes ago, Throttle2 said:

Finally!!!!!!

🙏🙏🙏🙏

 

Had been directionally aligned, but of course I am in different league at a few tiers below.

[Dp26]

On 6/2/2020 at 3:35 PM, 13177 said:

Saving 20-30% of salary, either your salary must be high or you have little expenses. Butmost people nowadays, their default expenses every month usually would have car and house installments, insurance premium, utility, hp, car expenses already take out quite a big sum of your salary liao. I havent calculate other expenses, like food, hobbies etc.

Savings is quite personal and a matter of choice I feel. Once you earn more than a certain amount, maybe 3k? , you should be able to at least save 20-30% of your income? 
Those that earn a lot cannot save also no use. 
those that start saving even if their pay is lower will be better off in the future than those that can’t save. 
 

house car insurance hp bill whatever can be controlled. Some people say pay yourself first. That’s good. Some people pay off their expenses first then see got money to save anot. 

passive savings habit or active savings habit will be better? 

if you are unwilling/unable to increase your earning capacity, then you should definitely make sure you control those expenses. 
 

only when you are rich then you have 2 cakes. 
If like me not there yet, don’t dream of having and eating the cake 🍰 

[Throttle2]

1 hour ago, RadX said:

Nabei 

 

I agree w you and u dun hew me

 

 chey😂😂

Where got.

i always hew you hor.