Monday, July 30, 2007
Y Spending, Saving & Investing
at what age do you consider saving and investing your assets as an importance in life? i believe all of us has been taught by parents to save, save and save. living in such an expensive society, how much can you really save each month? how much of the temptation around you can you actually resist? temptation which effectively wipe out our savings most of the time. have you ever really sit down, and plan out your finances? Labels: Inner Intentions
think about it.
have you tried doing a break-down of your salary (or allowances for some of you) for all your expenses? CPF, parents' allowances, bills, insurance, school fees, cosmetics (for the high-maintenance ladies at this age) food & entertainment. do you stick to the monthly break-down or do you "see money, spend money"? whatever your salary or allowance is, plan what are your monthly fixed expenses. be realistic and stick to this plan and do not over spend. maybe, a minimum 10% of pay or allowance must go into savings and another 20% into insurance/investment?
well, i'm 20 going 21 now. and upon reading up a thread in a forum i joined today, i got inspired. what a timely wake-up call for the slight spendthrift soul in me! :P i don't wanna be shallow and be ignorant to all these stuffs anymore. it's high time i do something to my savings, and do a break-down of my salary which i'm gonna follow strictly. once i'm over and done with my driving lessons, i'll have more concentration on my school fees. but man, please give me a pay rise! :(
one endowment policy with medical, illness and death coverage. monthly fixed deposits may allow one to "see no money, spend no money", which hey, works! once you're of eligble age, try investing your savings to investments accounts with diversified portfolios to include equities, bonds and commodities based on your own asset allocation. do consider OCBC's UT, SD and FD/TD plans. in fact, study the rates and consider the higher returns, gurantee on your principal amount and of cause, with lower risks. :) which bank to invest in is definitely up to individual's preference, but i was told Citibank, Singapura Finance, OCBC, Hong Leong Finance and Maybank are offering better rates. shrugs*
sometimes, it's good to read up bank websites, or CPF board's site instead of checking out some useless porn sites or commercial star blogs. it's time to think like a grown up. just like what i've discussed with li'e on MSN this afternoon, that we gotta work hard for our dreams! thanks girl, for sharing my dreams and keeping it a secret. tsk! winks*
so what are you waiting for? quickly get into the momentum now! momentum is powerful, soon you'll be doing it without even having to think. good luck! :)
Joanne; twenty-one; 16jan'87
EMAIL ;
j_o4nn3@yahoo.com.sg
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