Many of us take for granted our steady income and cash flow because we're confident of our financial status.
But managing your cash flow requires discipline. It can also be challenging in times of emergencies.
Showing posts with label Growing $$. Show all posts
Showing posts with label Growing $$. Show all posts
Tuesday, 29 May 2012
CPF Cash Flow Management Program
Are You Ready to Manage Your Cash Flow?
Many of us take for granted our steady income and cash flow because we're confident of our financial status.
But managing your cash flow requires discipline. It can also be challenging in times of emergencies.
Many of us take for granted our steady income and cash flow because we're confident of our financial status.
But managing your cash flow requires discipline. It can also be challenging in times of emergencies.
Wednesday, 18 January 2012
How Much?
http://www.channelnewsasia.com/stories/singaporelocalnews/view/1177289/1/.html
"Two in three Singapore workers save no more than 20 per cent of their monthly pay.
That's according to an online survey conducted by job portal, JobsCentral.
It polled some 2,300 individuals between August and September 2011.
The top three savers are workers from research & development, consulting and business development.
More than half of research & development workers said they save more than 20 per cent of their monthly income.
And the worst savers?
Those who work in events management, public relations and sales.
About one in five from these professions said they save more than 20 per cent of monthly income.
Huang Shao-Ning, deputy CEO of JobsCentral Group, said: "The more exuberant personalities of these three groups of workers, and the requirement of their jobs to leave positive impressions on new people they meet everyday may also translate to higher expenditure on grooming, commuting and entertainment."
Most (44.1%) respondents said they save most of their bonus.
While one in three (33.7%) said they spend their bonus on holidays and shopping.
One in 10 would give most of their bonus to their parents, while 9 per cent would invest the money.
Only 0.5 per cent said they will donate to charity."
"Two in three Singapore workers save no more than 20 per cent of their monthly pay.
That's according to an online survey conducted by job portal, JobsCentral.
It polled some 2,300 individuals between August and September 2011.
The top three savers are workers from research & development, consulting and business development.
More than half of research & development workers said they save more than 20 per cent of their monthly income.
And the worst savers?
Those who work in events management, public relations and sales.
About one in five from these professions said they save more than 20 per cent of monthly income.
Huang Shao-Ning, deputy CEO of JobsCentral Group, said: "The more exuberant personalities of these three groups of workers, and the requirement of their jobs to leave positive impressions on new people they meet everyday may also translate to higher expenditure on grooming, commuting and entertainment."
Most (44.1%) respondents said they save most of their bonus.
While one in three (33.7%) said they spend their bonus on holidays and shopping.
One in 10 would give most of their bonus to their parents, while 9 per cent would invest the money.
Only 0.5 per cent said they will donate to charity."
Tuesday, 13 December 2011
Importance of Fact-finding (Risk Profiles)
I just did an online "training" session which basically consisted of me screening through a bunch of powerpoint slides on my own time and doing a set of TRUE/FALSE questions that coincided with the information presented in said slides. the Training session was one of high importance though - Company/Industry Updates 2012.
one of these updates is the Customer Knowledge Assessment.
Basically, this section assesses a client on their competency or familiarity with Investment-linked products and is actually a Know-Your-Client (KYC) requirement by the government following the Lehman Brother's hoo-ha.
What I've come to realize (ok, not really "realize" but more like, voice out loud) is that many people are desperate to grow their money. Who wouldn't want to grow their money right? they turn to professionals for advice on where, how much, and when to put their money into something they hope will churn our a fair amount of return in the coming years.
Some people are more savvy than others. They know where and who to look for to pick up tips, they have a sense for the timing of buy and sell, they find it easy to spot trends and leverage on them. Others are not so lucky, they require the sound advice of someone who skilled or trained in such business.
When it comes down to actually putting money into the investment, there are 3 different options. You can:
It's important to find out about your risk profile. How much loss are you able to withstand, how long before you intend to tap into your invesments, do you have any knowledge of your own, are you able to make decisions not knowing about the investment climate, what kind of products are suitable for you, etc?
For example, I wouldn't recommend the same type of products to cater to Mr. A who wants to put money into something and see a small and steady return, but also wants to make sure that capital is protected, to Mr. B who is ok with volatility in his account as long as his returns are potentially greater (i.e. more risk = more gain).
This section of fact-finding is MANDATORY not only for anyone that is investing for the first time, but also for your advisor to understand any requirements. At the end of the day, it is your hard-earned money that you will be putting in, and the more information you provide to the person assisting you, the better they can ensure that they can cater as closely as possible to your risk level.
Find out more from your friendly insurance agent today how you can put your money into funds that are specially suited to your type of risk profile and be protected today!
Jessica
one of these updates is the Customer Knowledge Assessment.
Basically, this section assesses a client on their competency or familiarity with Investment-linked products and is actually a Know-Your-Client (KYC) requirement by the government following the Lehman Brother's hoo-ha.
What I've come to realize (ok, not really "realize" but more like, voice out loud) is that many people are desperate to grow their money. Who wouldn't want to grow their money right? they turn to professionals for advice on where, how much, and when to put their money into something they hope will churn our a fair amount of return in the coming years.
Some people are more savvy than others. They know where and who to look for to pick up tips, they have a sense for the timing of buy and sell, they find it easy to spot trends and leverage on them. Others are not so lucky, they require the sound advice of someone who skilled or trained in such business.
When it comes down to actually putting money into the investment, there are 3 different options. You can:
- Take the professional's advice wholesale
- Take half the advice
- Totally not bother with anything the professional is saying.
It's important to find out about your risk profile. How much loss are you able to withstand, how long before you intend to tap into your invesments, do you have any knowledge of your own, are you able to make decisions not knowing about the investment climate, what kind of products are suitable for you, etc?
For example, I wouldn't recommend the same type of products to cater to Mr. A who wants to put money into something and see a small and steady return, but also wants to make sure that capital is protected, to Mr. B who is ok with volatility in his account as long as his returns are potentially greater (i.e. more risk = more gain).
This section of fact-finding is MANDATORY not only for anyone that is investing for the first time, but also for your advisor to understand any requirements. At the end of the day, it is your hard-earned money that you will be putting in, and the more information you provide to the person assisting you, the better they can ensure that they can cater as closely as possible to your risk level.
Find out more from your friendly insurance agent today how you can put your money into funds that are specially suited to your type of risk profile and be protected today!
Jessica
Sunday, 11 December 2011
Money is used for...
Zouk Out 2011 was last night.
With line-ups like Armin Van Buuren, Lady Tron and Avicii, it's no wonder that tickets were going at $98 a pop.
To be honest, i didn't go. (*gasps* TRAVESTY!!!) but i feel i'm too old for these things. i've done my 'time' partying many years ago, plus at those prices, i'd rather curl up with a bottle of wine at home with a nice movie and a nice body to cuddle with :)
i know a lot of people that did go though (as they do every year), and definitely, they were NOT disappointed. there's really nothing like a night out with your best friends, nothing to worry about but how to get the best spot on the dance floor or whether that hot guy/girl in the corner is looking at me. the next day, unforgettable memories, forever etched in your mind.
ah, sweet youth!
but that really got me thinking. at $100 for a night of passionate dancing, drunken revelry and mind-blasting music, what else could we use that $100 for?
Some popular answers:
Singapore *ahem* Sentosa's shores. and money can easily meant different things to different people. to anyone that has spent $100 easily on a night out partying, or a fancy dinner, or even on little trinkets, or shopping for the latest fashion, money buys something that could make you happy
The attached URL @ Yahoo! Answers has some really interesting replies.
Top Reply: "Why not buy something that can make you MORE money ? !!!"
And similarly, why not buy something that can guarantee peace of mind for yourself and your family?
that being said, no one thinks that buying insurance can make you happy because no one wants to think about the implications of protection, i.e. something bad has to happen before one receives anything. but the intrinsic value of buying insurance, does has something of much greater significance.
I've worked on some proposals in my short time in insurance, some clients have a $100 a month budget to start off their basic portfolio of protection. i won't go into specifics, but let's just say, that for this amount, it's highly possible to get a fair amount of cover for all the 5 aspects; even more so if you're ok with spending $100 a night.
it might not mean a lot to put aside some money for something that seems only a probability and even more so uncomprehensibly in the far future, but insurance could very well protect your lifestyle if anything should happen.
and ensure that peace of mind that we will have the means to party on another day.
Be protected everyone!
Jessica
With line-ups like Armin Van Buuren, Lady Tron and Avicii, it's no wonder that tickets were going at $98 a pop.
To be honest, i didn't go. (*gasps* TRAVESTY!!!) but i feel i'm too old for these things. i've done my 'time' partying many years ago, plus at those prices, i'd rather curl up with a bottle of wine at home with a nice movie and a nice body to cuddle with :)
i know a lot of people that did go though (as they do every year), and definitely, they were NOT disappointed. there's really nothing like a night out with your best friends, nothing to worry about but how to get the best spot on the dance floor or whether that hot guy/girl in the corner is looking at me. the next day, unforgettable memories, forever etched in your mind.
ah, sweet youth!
but that really got me thinking. at $100 for a night of passionate dancing, drunken revelry and mind-blasting music, what else could we use that $100 for?
disclaimer:
i do not have anything against said
"passionate dancing, drunken revelry and mind-blasting music"
nor spending money on above-mentioned issue
"passionate dancing, drunken revelry and mind-blasting music"
nor spending money on above-mentioned issue
Some popular answers:
- Donate to a charity
- Buy 20 Mac Value Meals / 50 Pilot Pens /
- Buy a new Computer Game/Dress/Pair of Shoes
- Have an expensive dinner with someone you love
- Go on a holiday / Visit Universal Studios Singapore
- (fill in own wants/desires...)
The attached URL @ Yahoo! Answers has some really interesting replies.
Top Reply: "Why not buy something that can make you MORE money ? !!!"
And similarly, why not buy something that can guarantee peace of mind for yourself and your family?
that being said, no one thinks that buying insurance can make you happy because no one wants to think about the implications of protection, i.e. something bad has to happen before one receives anything. but the intrinsic value of buying insurance, does has something of much greater significance.
I've worked on some proposals in my short time in insurance, some clients have a $100 a month budget to start off their basic portfolio of protection. i won't go into specifics, but let's just say, that for this amount, it's highly possible to get a fair amount of cover for all the 5 aspects; even more so if you're ok with spending $100 a night.
it might not mean a lot to put aside some money for something that seems only a probability and even more so uncomprehensibly in the far future, but insurance could very well protect your lifestyle if anything should happen.
and ensure that peace of mind that we will have the means to party on another day.
Be protected everyone!
Jessica
Wednesday, 7 December 2011
Safeguarding your Income
an article on channels news asia talked a little bit about how to "Increase real incomes for better lives"
From the government's perspective - "the only way to sustain real wage increases is to keep improving productivity, especially through upgrading the quality of workers and jobs."
Now, i'm not about to start a political debate, but i'm more concerned about the point at hand, which is that real wages are decreasing in singapore! i've been telling some of my clients recently that i'm so shocked about how the times have changed i.e costs of living and inflation
i've had friends who've been complaining ESPECIALLY about cigarettes. When there used to be small packs of 10 sticks selling at $2.50, and big packets of 20 sticks selling at $5. Now in the stores, there are no small packs, and big packs are going at nearing $13 now!
depending on our parents for a $200 monthly allowance, we used to be able to save money for CD players which went for a few hundreds in the 1990s. In those days, we're get 50 cents to a dollar a day?
it might be a little unfair to compare things this way, considering we were a lot more carefree when we were younger. we didn't have to worry about our responsibilities to our family's upkeep, to our children's education, to our household expenses, to any other commitments that require an assignation of a part of our income.
That poses a number of different problems -
there is no true "best way", as long as you are comfortable at the rate your money is growing, at the risk level that you've taken. the worst thing to do is over-commit to an investment and potentially lose money that will wind you up in a place worser off than where one starts at.
it's important to consider a good mix of returns versus risk, and endowment policies and investment linked policies are a good way of diversifying your portfolio. Not only do you have a chance to earn on your investments, but policies have an advantage which is the cover on death and disability. there are few other methods which will guarantee an amount given to a family if something happens to any of the breadwinners.
Depending on what methods you are the most comfortable with, discuss options with your financial advisor today! any one of these policies could very well help YOU safeguard your income in time to come :)
Be Protected Everyone!
Jessica
From the government's perspective - "the only way to sustain real wage increases is to keep improving productivity, especially through upgrading the quality of workers and jobs."
Now, i'm not about to start a political debate, but i'm more concerned about the point at hand, which is that real wages are decreasing in singapore! i've been telling some of my clients recently that i'm so shocked about how the times have changed i.e costs of living and inflation
i've had friends who've been complaining ESPECIALLY about cigarettes. When there used to be small packs of 10 sticks selling at $2.50, and big packets of 20 sticks selling at $5. Now in the stores, there are no small packs, and big packs are going at nearing $13 now!
depending on our parents for a $200 monthly allowance, we used to be able to save money for CD players which went for a few hundreds in the 1990s. In those days, we're get 50 cents to a dollar a day?
it might be a little unfair to compare things this way, considering we were a lot more carefree when we were younger. we didn't have to worry about our responsibilities to our family's upkeep, to our children's education, to our household expenses, to any other commitments that require an assignation of a part of our income.
That poses a number of different problems -
- We find it difficult to commit large amounts of money on anything!
- $1 now could not buy the same amount of goods that $1 10 years ago could have bought. Meaning that to buy big ticket items, we need to have increasingly more and more money the longer we delay buying it, regardless of the reason for delay.
- how then do we safeguard our shrinking income? what can we do about it?
there is no true "best way", as long as you are comfortable at the rate your money is growing, at the risk level that you've taken. the worst thing to do is over-commit to an investment and potentially lose money that will wind you up in a place worser off than where one starts at.
it's important to consider a good mix of returns versus risk, and endowment policies and investment linked policies are a good way of diversifying your portfolio. Not only do you have a chance to earn on your investments, but policies have an advantage which is the cover on death and disability. there are few other methods which will guarantee an amount given to a family if something happens to any of the breadwinners.
Depending on what methods you are the most comfortable with, discuss options with your financial advisor today! any one of these policies could very well help YOU safeguard your income in time to come :)
Be Protected Everyone!
Jessica
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