Savings tip #1 - Quit PUFFING!!

if u are interested in burning money and going to see God soon, continue smoking... otherwise do read on, w a light heart k? ^_^

1. u lose ur charm... 

For ladies: harder to hook the golden-turtle you have been investing in. 

For guys: yeah, maybe it seems cool... but heya no hot babes will want to be near a stinko! :D -invest in good cologne 

2. u harm ur loved ones...

hmmm, pardon me, isn't exposing your loved ones to constant 2nd hand smoke and the many health hazards a bit too selfish? -OooOps!

3. u harm ur own self...

not only are smokers exposing their love ones to series of risks, they are exposing themselves to a lot of risksss.

how can you bear to let your love ones see you smoking your health away?

and the constant nagging leads to more puffs n more tension. who gains? NOBODY NOBODY BUT HELL

4. u burn money...

you complain this is expensive that is expensive...cannot afford to buy gifts... yet 1 packet a day... $300/mth...$3600/yr (not including the extra puffs when partying, extreme stress periods... ...) and you complain about being poor?? -scratch head-

5. u burn even more money...

do you know a smoker pays higher premiums for insurance? 

6. u burn even more more money...

when illness related to smoking strikes... the medical cost may kill u...

not only that... it pains ur loved ones to see what the fragile smoker now has to go through... 

so spend money to smoke to spend more money for ttt or prevention... just how does this work out do be a doable sum?? 

Would you be able to survive on S$5 a day... in SINGAPORE?

a very interesting read today,

Would you be able to survive on S$5 a day? from http://sg.entertainment.yahoo.com/blogs/singapore-showbiz/able-survive-5-day-162447729.html

personally, I have my reservations on how this could be done... Singapore leh... 

BUT i think S$5 for meals only is possible BUT then will it be a trade off and one got to SACRIFICE his/her health?

i crack my head and below is the best I can come up with...

- braving the hot n humid / windy n rainy weather to walk  to mrt station / bus stop : free + travel to work (return trip) : minimum S$0.73*2 = S$1.46 (its S$3.50 for me; left only S$1.50 to makan!!)

- walk to work : free 

- from 24/jun/13 - 23/jun/14, free travel for commuters who tap out at designated stations before 7.45am on weekdays, excluding ph, thus only need to pay for 1 way travel : S$0.73

with only S$1.50 for meals...

-breakfast : cereal from pantry area

-lunch N dinner : S$1.45 + drinks from pantry

Cost: 

Fish ball - S$1.20 for 10 fish balls (S$0.12/ fish ball, 2 for lunch 3 for dinner) = S$0.60

Fish cake - S$1.20 for 3 pcs (S$0.40/ fish cake, 1/3 of a cake for lunch 2/3 for dinner) = S$0.40
Bee hoon - S$1.30 for 1 pk (1/3 of a pkt for 1 day) = S$0.45

but then if u are the lucky dude/babe living near work place or work in town and can benefit from the travel early for free scheme, hehx, you can have up to S$3.50 more to spare for your meals. haha!

and after work... cannot go shopping hur, if not budget *pop*

must crack brain for FREE  activities...

OMG! so its really possssibbllleee... but erm... will I (or u) do it?

SIA increasing free baggage allowance by 10kg on all classes

from 14/NOV/2013 onward, a whole new reason to fly on SIA & SilkAir... MORE BAGGAGE ALLOWANCE FOR FREEEEEE!

this makes flying budget not so budget, for the long haul (w the meals, entertainment blah blah). oops ooo to all budget operators?

for flyers on SIA / SilkAir:

Economy class: 30kg 

Business class: 40kg

First class: 50kg 

Commuters to gain if fare review is accepted (!~hurray~!)

According to the report released by FRMC, it has suggested the followings (+ + +which i am not listing cause haha only wanna see the 'good & happy' suggestions, for me. :D) to ensure public transport fares remain affordable while keeping te public transport system financially sustainable : 

- free travel for children under 7 yrs old (+ for tall children who are below 7 yrs old; - for children above 7 yrs old but below 0.9m tall)

- Monthly concession pass (MCP) for senior citizens on top of the current concessionary fares that they are enjoying on a per ride basis 

- Adjustments to pricing of MCPs for students, particularly for poly students. (+less discrepancies for jc vs poly)

- Extension of student concessions to Singaporeans studying full time locally to include those studying in private institutions (+upgrade, more incentives to study)

-Monthly travel pass (MTP) for adult commuters to help frequent public transport users. (actually ezlink has a similar scheme and sbs has one for its shareholders... but there are limitations)

-new Concessions to be funded by government:

  -> low income workers (LIW) (this can help keep their expenditure lower)

  -> people with disabilities (PWD) (social good in the making)

- Transport Ministry will respond by next week.

- Minister Lui + several MPs have made favourable feedback and acknowledge to the good of the suggestions. ('Pre-approval' signal?)

- new fare formula will be adopted between 2013 - 2017, if accepted.

For more details, pls refer to the source. 

Let's pray for these reviews to be accepted, and that not everything only go up up and up! $_$

source:
http://www.channelnewsasia.com/news/singapore/up-to-1-million-commuters/874792.html

More buying smaller units

Ever since the latest cooling measure was implemented ; total debt servicing ratio (buyer's total debt obligation cannot exceed 60% of his/her income)... more investors are opting for smaller units. 

This is perhaps due  to a "tighter budget" after the implementation o the TDSR. 

With less investors, and within this smaller pool of investors more are looking at small small units, more time and effort is needed to clinch a deal... hence developers will (are) giving agents higher comm.

Will this be the start of the downturn for property market in sg...??

Or will property really beat all odds and continue riding strong after this hump...??

Starter's guide to savings

We all know the importance of savings, money money... but there are those that find the rising cost of living so overwhelming and *raise the white flag* then proclaimed "EVERYBODY is in debt! One form or another..."

But is there any truth in that? Is the situation so jialat that for those not born with a silver spoon, its only debt, debt and more debts.ssSSss....?

So here... some mini steps to save:

1. track expenses

• analyse the wants and needs, the extras, the wastage... 
• download apps so tt there is "live-tracking"

2. based on the analysis, design a workable budget

• just like dieting, a sudden change may just be a bomb going to be detonated, sooner or later. then all previous efforts will go down the drain and then *haizz... what for? no matter how I scrimp and save, also no use... go slow and steady. set a timetable for the revised budget, and revise it from time to time.

3. stick to the new plan!

• commitment is the key
• set achievable goals to motivate yourself

4. how?

• Clear all debts! unless it's "GOOD DEBT" like property loan...
• After clearing all the unnecessary debts, set up emergency funds (6 mths of expenditures) ! *touch wood*
• Pay yourself first - feel tempted to draw and draw like there is no tomorrow? set up an account in another bank, online banking, and chucked tt card into the recycle bin. Maybe if every time need to queue and wait whenever there is a need to draw money, no money will be withdrawn. ^_^

5. Excess? reward yourself

• work a lot of OT this month and find yourself having tt bit of excess money? windfall? angbao? well, be nice to yourself, reward yourself a bit... save 50% spend 50% or 40% into investment acct 40% save 20% spend... work out a strategy that will motivate you to keep to the plan. :)
• personally, I love the fact that using credit card (*note the danger!) allows me to claim points, rewards and discounts. So for all excess, I credit N% into my credit card... so I can sign more with my cc. 

/back to STEP 1 tracking expenses... monitor monitor... Good luck!

SGX seeking to reduce lot size from 1000 to 100

Source: http://www.channelnewsasia.com/news/business/sgx-seeks-to-reduce/782336.html

SUMMARY:

• SGX aims to introduce the board lot size of 100 by the first quarter of next year (2014), and it could be at least two years (2015) before the lot size will be reduced to one unit. - industry players would like the board to implement the reductions without splitting into two phrasesroposed

• Proposed standard board lot size of 100 (or 1) units will apply to ordinary shares, real estate investment trusts, business trusts, company warrants, structured warrants, extended settlement contracts and shares on GlobalQuote.

• Board lot sizes for exchange traded funds - barring the SPDR STI ETF and ABF SG Bond Fund - American Deposit Receipts and fixed income instruments, including Singapore Government Securities and preference shares, will remain unchanged. 

TOKKING POINT:

*Hurray* for small fish for 10% reduction in cost needed! 

Self-scheduled averaging strategy (like OCBC blue chip investment plan) can be executed with greater flexibility. 

BUT BUT will there be new (lower) commission? If it is going to remain the same, then the commission MAY eat into the profit like piranha, and it will only be good for those who buy shares to keep.

Why should one aims to have $100,000 by 30??

There are those who feel that "die die also not possible to have $100,000 by 30... and start thrashing that one needs to 'enjoy' life, have 'quality' life... thus all the calculations is rubbish and impractical.

Those who have managed to clinched the 100k deal by 30 must have been lucky enough to have silver-spoons lying around for them.

Is that a fact or is that an excuse for one not to save?

Maybe a scary peep into the life after marriage, esp with a child will encourage one to exercise financial plannings. (well, at least this works for me)

ASSUMING

1. "Re-calculated" monthly expenditures (after marriage): $1250 - $1650+++

[PERSONAL: $300 - parents, $100 - insurance, $50 - hp, $200 - transport, $300 - meals, $150 - misc]
[ONE TIME: all the *bling bling*, wedding photo, wedding dinner and the list goes on... AND furniture for new place]
[HOUSEHOLD, SPLIT WITH SPOUSE: $30 - conservancy charges, $25 - internet, $80 - electricity, $15 - housing tax + renovation loan(?) + cash top up for housing(?)]

[CHILD, SPLIT WITH SPOUSE: $50 - insurance, $50 - endowment, $150 - food, $150 - misc, excluding birthday celebrations, tuition, childcare, enrichment classes, maid, upgrading of educational equipments ... ... ...]

[*touch wood* as parents get older, you know... visits to doctor starts getting more and more frequent... they need more supplements, more therapies... it's all money. :(]

*sings* 'price tags'

Imagine if both you and your spouse have had this goal, combined savings upon 30 will be: $200,000. 

Then maybe $100,000 can be used to offset a lot of the above items... so tt the marriage won't be plague by the mountains of loans / debts ... its a 'ripple-effect'... Is it not?

TO HAVE $100,000 BY 30 : MISSION IMPOSSIBLE?

Read an interesting article today, "Is it possible to have $100k by 30?"

This is the link: http://www.straitstimes.com/the-big-story/case-you-missed-it/story/it-possible-have-100k-30-20130710

This article had generated so much interests that every small talk revolves around it, debating, arguing, flipping.. with some supporting it...

So is it really that impossible to save $100,000 by one is 30 yrs old??

Actually I did a simple calculation and was amazed that well, its actually 'I M POSSIBLE', not that impossible like what many attest it to be. *sorri sorri*

But then it does require some bits of luck, some bits of help... some blessings... 

PREREQUISITE

1. No study loan (Scholars, families with sufficient funds to fund the needed loan FOC)

2. No need to help out with family's bills (internet, utilities...)

3. Not married (esp, no kids) + still living with parents (rent is not exactly cheap in sg. :P)

4. NO CAR! (buying a car will exhaust near 100k + there is the maintenance of the car!)

ASSUMING

1. "Re-calculated" monthly expenditures: $1100

[$300 - parents, $100 - insurance, $50 - hp, $200 - transport, $300 - meals, $150 - misc] 

*OT (payable) / side incomes (dividends, interests, ) should be able to account for the rise in  expenses due to inflation. 

CALCULATIONS - lady, start work at 24...

Assuming one starts work at 24, with a basics of $2800, take home $2240 (after deduction of 20% for cpf), monthly expenditure of $1100 (savings: $2240 - $1100 = $1140, 1st year) + assuming there is the 13th mth AWS and 1/2 will be saved (1/2 to reward oneself - all work and no play makes Jane/ Jack a dull dull one!) + 3.5% of annual increment ... and there is no promotion... no job hops... no retrenchment!

and  YOU WILL SEE $102,658.8 by 30!

Streams of secondary incomes

if high cost of living has changed you to wake up every morning cursing and swearing at the new stack of bills to be PAID... maybe you should explore ways to have secondary income(s). 

oh well... even if several secondary incomes do not make you Bill Gate II, I'm sure it will be better than when you are now (pocket-wise)... so, why not? :D

possible sources of side income:

1. rent out rooms (1 room ard 600-800 less increment in pub bills = 400-600) 

2.  work part-time (weekends/ tutoring/ bouncers/ night shift...) 

3.  work OT, claimable

4.  start sideline business - (blogshop / pushcart / invest and be a sleeping partner)

5.  invest - in oneself - upgrade for better job prospect- (then job hop, aim 20-40% more)

6.  invest - in dividend stocks

Any other possible streams?? :D

Project #1: To achieve $1500/mth from dividends

Based on my estimated cost of living, I'll need to generate income of at least $1500/mth from dividends to enjoy financial freedom.

Assuming inflation will be at 5%/yr, I will need to +7% to my target yoy.

Gotta work hard from now on to boost my portfolio, am giving myself till 2018 to achieve tt. !*motivation motivation*!

Tray return faces resistance (Part 2)

*HoPpPs    hoOOoopPs      hOoOoPPppPssS*


When I first visited France, we visited XXXX, had a nice lunch, was about to leave the place after the meal.
Was near the door when someone (the cleaner) tapped us on our shoulders (machiam very urgent, like I had left my wallet there or what) just to tell us we never clear our plates! waw seh man... so super duper ma lu...
then as we were clearing our plates, lots of eyes were on us like we were a pair of barbarians. (think king kong pounding his chests hard, pom pom pom)

and after we cleared our trays, the cleaner then proceed to wipe the table & chairs clean.

Oh well, I later learnt that in most places in Europe, you clear your own trays after you. Been to the buffets in Europe while touring, not only do you clear your own plates, you are expected to throw the residues into the bins provided!


Now, for many of us who have been to Taiwan, AH ZHONG MIAN XIAN sounds familiar?
After ordering, take your own bowl, stand one corner and eat... then put the bowls in the bins provided for.

Anybody complaining? Apparently still long queues there leh...

Tray return faces resistance (Part 1)

Tray return initiative was started by National Environment Agency in March, to aide cleaners in increasing their efficiency, and to encourage display of social graciousness.

However, it seems that there are some out there who feel one should “Say NO to Tray Return” 

Why the bbb-iii--ggg NO? 
    -cleaners will lose their jobs!(?) [NEA had emphasised that this isn't going to happen]

    -cleaners clear our trays = provide better service to patrons. [pay $3.50 already leh!!]

    -If customers are expected to return tray, then there MUST be price benefit (cause it will be a true blue self service-service). [best if it's going to be FOC cause need to stand there wait + return tray + maybe next time need to wash plates... maybe okay la, don't say don't have - give $2]

ME & MY STAND ... 

I understand why there are those who feel it this way. A friend said:"
it used to be $2/ plate, order already and can go and find a place to wait to be served. --->
then $2.50/ plate, order already wait nearby, take to your own table. (self-service) --->
$3/ plate, order already wait nearby, take to your own table, makan finish, return tray (self-service upgraded) ---> NEXT?? 

but what we are seeing is what we think, hawkers are bosses make big money... always increase price. YET with each increase in price = one less service (so sad but true eh... :C).

but hor, you go to restaurants and wait to be served, now go kopitiam also want to wait to be served? suddenly the $3.50 = $35... so cannot, cannot, cannot.

10 cents increase, complain complain and COMPLAIN...cause gst 7% only okay? (i A1 for Maths leh!)
maybe should ask for 7cents? or 5 cents? or better still ABSORB LA! (then lower and lower profits margins... think businessmen: tak bolek la!)

For those who are footing our very own PUB bills, we know the fluctuations of the bills... it usually goes UP, UP and UUPP... hardly goes DOWN, down and down... so we want a very accurate accounting and fair charge, then price review every 3 mths? or must do proper accounting like listed co and published to show us? then we complain why no fixed price... OMG... why got earnings...? hmmm...

Ingredients price increase  + increase in operating cost = uP $0.50, kena complain already.
Not enough cleaners = dirty = kena complain = 1 more cleaner = higher operating cost = absorb? increase? 
increase price (again) and kena blacklisted?... don't increase maybe orh ba kap (panda)... earn less and less...

How to maintain current selling price?? Ask landlord to reduce rent? haha... I wish, you wish, landlords leh? Singapore style leh...

How sia??

Personally, I feel those saying NO because they feel something is being taken away (service) from them despite the higher price, seeing things from where they stand.

Someone out there will be the one taking the advantage, most probably the operator (not me! tak bolek la!)... so no no no. Then wld you rather pay more? Or wld you rather a dirtier place?

Why not think of it this way: A lot of the cleaners are those old uncles / aunties. They are a lot slower than you / me ... then when the place gets too dirty, very pek chek (frustrating) you know? Yet they can't handle the crowd... Or wld you rather all these old folks get sacked (already very sad, if kena sack = double sadness no double happiness) and get young blood to replace them (from where... hmmm...)?

Take it as 日行一善, return tray, then less complain = help the old people get less scoldings.

In many parts of Europe, one is expected to clear their own trays after meals, burger king, Ikea, Mac Donald... so long its not a restaurant. (Read - Tray return faces resistance (Part 2)) Tried Taiwan - Ah Zong Mian Xian?

But NEA had probably jumped in too fast, yes, it is a norm in Europe, America... but definitely not Singapore. To change a culture takes time... it has to be a gradual change. perhaps, perhaps... if the tray return is applicable to places where average age of the cleaners are of a certain age, Singaporeans will find it easier to accept and well... lesser people will say NO..

But for me, Yes, I will... :D. Instead of boiling and waiting forever for the cleaner to be free enough to clean my tables during the precious lunch break, (try lunch hours, CBD zone), why not I clear the tray after finishing my meal so that the next patron can enjoy his/her meal? If everyone starts doing this... yes, cleaners will have an easier job, no doubt (so?)... but so will we enjoy a cleaner environment. They can spend more time making sure the place is  clean or maybe progress to washing the dishes and start earning $3000/mth... haha ^_^

What about YOU? YES or NO...

source: http://sg.news.yahoo.com/tray-return-initiative-faces-resistance-094842873.html

To buy a car, earn $3750 or more, more and more...

Based on the previous posts:
Money not enough - Cost of living in Singapore (5/14/13)
Buying a car in Singapore? Cost of car in Singapore (5/8/13)
RETIREMENT (5/23/13)

In order to owe a car in Singapore, one should be taking home S$3000 PER MONTH: -
1500 (monthly expenditure) + 650 (car maintenance) + 350 (est. car loan, resale, 4 yrs old suzuki swift) + 500 (savings - retirement)

IF

• you have NO PLANS FOR A CHILD... (est. $500 / mth)
• you have NO PLANS FOR EMERGENCY FUND... (est. $250 / mth)
• you have NO PLANS TO TRAVEL... (est. $250 / mth)

To take home S$3000 per month, one should be earning S$3750 (S$3750 - 20% (CPF) = S$3000)

even if your salary scale is around $3750, would you spend for the little comfort on owning a car  or use the dough to make plannings for the future...?

RETIREMENT

Based on the post,
Money not enough - Cost of living in Singapore @ 5/14/13

assuming NO INFLATION, one may need around $1000-$1500 ($2000- $2500 for couple) per month upon retirement

assuming one RETIRE @ 65... and can live to 80 

one needs $180000 - $270000 

assuming SAVINGS starts @ 25 (40 years of savings), one need to save $375 - $562.50 per month (presuming there was no break in income, no retrenchment, no events that require digging into savings at all)

The above assumption is made in the belief that CPF will be FULLY utilised for the ONE & ONLY HDB flat and renting out of room(s) is not considered for one reason or another.
Monetising the flat by renting out rooms may be an option for some... but what if prices of flat is out of reach for your child(ren) by then?

Have you already started preparing for your retirement? :D

Money not enough - Cost of living in Singapore

MANY SAY 'MARNY' NO ENOUGH!!

But is it really money not enough(?) OR we are expecting too 'little'... hmMmm...

Here is a breakdown of d'ESTIMATED monthly expenditure (w no kids + on the thrifty side)...

internet	$40	/ Starhub (100Mbps fibre broadband)
hp	$15	/ top up card
transport	$200
meals	$300
entertainment	$200
insurance	$100
misc	$600	/ $500 for parents; $100 buffer
TOTAL	$1455 ($1500/mth)

So, what's d'ESTIMATION of your mthly expenditure? 

or you have never ever given budgeting, planning any thoughts? :D

Buying a car in Singapore? Cost of car in Singapore.

When those super-cars zoomed by, do you go "WoW! *flip out hp and start *click *click *flash *flash?"

Ok, maybe you don't... but I DO. 

sometimes, I do wish dream WANT them, maybe as a passenger also ok.. 

*flip flip my long hair... anybody?* hahaha. NOBODY! OUCH! 

enuf joke.

yeah, joke... but owning a car is no funny business eh, esp in Singapore.  

put aside the aprox $70,000 for just the COE (no COE, no car - in SG).

no, you don't need new glasses and yeah there was no error... its $70,000, SEVENTY THOUSANDS.

plus the cost of the car itself... a beautiful mini car will set your back smelly smelly (easily) by at least $100,000!

and in case you do not know, the COE lasts you for 10 long years... no matter how well you can maintain your car, 10 years later you HAVE TO renew your COE for another $??? (can't predict...sorriez there)

Assuming you paid your car in full (pls note the new regulations for car-loans), you still have A BIT more to take note of continue paying for (for buying une petite voiture):

1. Road Tax - depending on cc - approx. 700-800/yr. (COE is the licence that comes with owning a car; road tax is the licence to drive that car with the COE) 
2. Insurance - again depends on many many factors - approx. 2000/yr
3. Servicing - 600/yr (if you want... lol)
4. Seasons parking - if you live in HDB - 1080/yr
5. Cash card - for your toll (ERP) or parking anywhere you can think of in Sg - 1080/yr (if you don't travel a lot during peak hour, nv go to town area for too long)
6. Fuel - again depends - 2400/yr 

TOTAL: 7860/yr (655/mth) 

FOR 10 YRS: 78600 + 100000 = $178600 

And that is after I have rounded down all the numbers so that owning a car looks so highly affordable! lol. Imagine the car loan... well well... definitely will make monthly expenditure 1XXX JUST FOR THE CAR!

Say, after buying a car (with loan), do you spend 1XXX, on yourself?

do you spend 1XXX on your parents / family & friends? Or your kids?

If any of the answers is NO... what can I say - but it seems You are treating a car better than anything else?! 

Assuming most of us take 30 years to clear THE hdb loan; and if, IF I WERE to have a car throughout these 30 years, there will be 3 cars. Lets presume the COE stays FLAT... that will be a WHOOPING $535,800!! (Maybe take away a bit for the scrap value of cars ... still "NOT" a lot?)

Unless you have the luxury of  short working hours / not working (regardless of why) or you do sales and you are always in the car, zooming by from place to place - you are paying 1XXX (MINIMUM) and $535,800 (for 30 years) to 'SUN TAN' your car! Isn't sun tanning supposed to be free in Sunny Island? *oopPS*

Mind you, SG is a small small country... with very developed public transport system. There is no ulu ulu places, except for Lim Chu Kang, where you may need to walk 1-2 hours just to catch a bus (or maybe there is a bus there? or somewhere even more ulu?). Even in Lim Chu Kang, can call for taxi... but of coz not in the wee hours of Hungry Ghost Month la! 

So, still want to materialize the dream of owning a car?? :P

GOAL: to be a WEALTHY BUNNY

For a 'princess' of my age (reaching the big 3+0 soon), I am a late starter for savings, for investment, but better late than never... do you not agree? Haha, self - consolation!

In the midst of learning more about life - to strike a balance between work and life.

Come to think about it, its the same anywhere in this world, right now. CASH / WEALTH is KING, especially in Singapore.

Pension schemes of the olden days may soon be no longer applicable to modern times, look at France, Spain, Italy. Yet, with no pension schemes, will one be able to save enough to last a 'lifetime'?
Inflation, inflation... stagnant salary... its everywhere.. so how can we save enough to retire?

Oh, not forgetting longer life expectancy, really? some say yes, some say no... but do we really know? Then how?? at what age should one retires?

Or are we expected to work till our final hours?
Even if we are willing to, can our body, our mind and soul take the toll?

I'm starting to fret, to worry... oh no no no, wrinkles and frown lines are coming up! :S

Helllppp... but  from who sia? yeah yeah... a wealthy hubby maybe?

But isn't it better that I am the wealthy bunny ??

ok, that will be my goal... wealthy bunny i will be!