Personal Finance
Getting Cheap Books in Singapore 2
There was a Penguin sale at Singapore Expo over the weekend. Do not be mistaken, Penguin is the book publisher. I was actually at Expo collecting my Standard Chartered Race Pack and chanced upon the sale. I spent about an hour there and got 12 books for $99! Here’s a picture of my steal:
I must [...]
Getting Cheap Books in Singapore
For book lovers, it is important to buy books as cheaply as possible. It is likely that a book lover will own many books, it is only logical he/she will search high and low for cheap sources. I self-confess that I am one of them and I would like to talk about my sources in [...]
Rule of Thumb for your Personal Finance
There are a few popular rule of thumb when it comes to managing money. I would say they do ensure you will be financially sound if you follow them.
Do not chalk up debt more than 35% of your income
Banks use 35% as your borrowing limit when approving your loan applications. This means that your monthly [...]
Prosperity Personal – Pictorial Financial Planner
Prosperity Personal has a great financial planning resource that is beautiful and practical at the same time! Take a look at the following screenshot:
You see the little icons on the bottom are what you can add into your financial portfolio. For example, you have Unit Trust, Stocks, Real Estate, Bond, Cash, Fixed Deposit, CPF, etc, [...]
Your Bank Deposits are not 100% Gauranteed
In Singapore, your bank deposits are insured up to S$20,000 by Singapore Deposit Insurance Company (SDIC) in the event that the participating bank collapsed. All along people have been having the perception that putting money in the bank is the safest method to safeguard one’s asset. Since the collapse of big and reputable American banks [...]
What are you really covered under insurance?
I think many people buy insurance without knowing exactly what they are covered for. Hence, I decided to create this post to highlight coverage as well as shortfalls in the different types of policy. As every contractual detail of a policy differs from company to company, and from time to time, it is not possible [...]
The effect of savings
“Savings, then, are a form of Financial Independence. Savings can give you courage at your job and new energy to explore the neglected parts of your life. Savings pave over the lean times in freelance or seasonal work. Savings relax any unconscious fear of becoming a street person. Savings keep you from making bad choices [...]
Do not buy Whole Life Insurance
Suze Orman and Dave Ramsey are popular TV hosts who dish out sound personal finance advice to viewers. Both of them advocate “buy term insurance and invest the rest”. The war continues between whole life and term life insurance and it never seem to be resolved. Here are their standpoint:
Suze Orman 1:
Dave Ramsey:
Suze Orman 2:
The "Real" Role of Insurance
Alfred Toh, who shared with us the importance of partial disability previously, wants to remind us the real role of insurance. There are many methods to do insurance planning, and his approach is to protect a person’s potential earning in his lifetime. Briefly, here is the method he adopts:
Eg: A person’s earning propensity.
25, male, [...]
