Making your $$$ work harder for you!

eileenpxp

New Member
Dear mummies,

Inflation currently is over 5% in Singapore while bank is paying less than 1% on your savings. By not seeking alternative instruments to help you grow your pot of money, you are making a definite LOSS by leaving $$$ in the bank.

As a mummy, I used to work hard for $$$, but now I am trying to make my $$$ work hard for me after close to 10 years of working life. I think its important...and I been observing pple around me slogging away while their savings are eroding away..its sad ..but everyone knows its been a fact in life.

Singaporeans rather spend their time going NATAS fairs, car show rooms, during their free time rather than spending time managing their finances. I used to be one of them who slogged like a mad woman & spend my weekends going out with kids. I just came to realise that we do need to be more financially educated to manage our own finances & indeed I have some savings plans in place but i have been leaving large amounts of $$$ in FDs due to lack of knowledge and low appetite for risk.

According to news report 2 weeks ago. Education cost for a non medical degree in Singapore is expected to cost more than 70K in 20 years later. Private pre schools are charging 8K per year currently. So I hope mummies out there: start planning aggressively ahead. if you think you do not have enough $$$ to save now, you will never have that in the future... with the type of salary increments and bonuses we are receiving now!
 

MsKoh1973

Member
me n hubby working class, until I stopped working early last yr. Hubby pay about $6k pm. I agree that we may never be rich, but if all goes well as planned, in about 12 yrs time, when hubby hit 60 yo and stopped working, I am expecting that we can have a monthly spending of about $5k pm up to 90 yo. This is based on the projection cash flow chart I done, after taking into consideration our endowments (premium nearly fully paid up), kids education, savings, CPF etc.
 

tigerbabe

New Member
HI Eileen, I agree with u. So what tips do u have to share with on making $ work for us? I just stop working recently to prepare for my pregnancy. Even though it's only a month, but I greatly feel the loss of income (maybe cos I enjoy life = spending $).
 
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