How do u all save money?

[Supersen]

no gf , each month saving around $300 to both AIA and prudential till 45 yo matured then can take out

 

[malagas01]

Follow these 3 golden rules and you'll save lots of money

1. Don't get a girlfriend
2. Don't buy a car
3. Don't smoke & drink

I only follows rule No 1 only...If ask me follows the rest of the rule...then life is meaningless....Anyway I have about million dollar cash ..and CPF ordinary(200k use up on hdb) 40k, special 92k...... Staying in HDB age mid 40s.....

 

[Perisher]

I only follows rule No 1 only...If ask me follows the rest of the rule...then life is meaningless....Anyway I have about million dollar cash ..and CPF ordinary(200k use up on hdb) 40k, special 92k...... Staying in HDB age mid 40s.....

If don't mind, can share how you accumulate the million dollar at mid 40s?
Since you have a car and smoke and drink?

 

[SpeedingBullet]

Wow some of you guys are hardcore.

student here, graduating this year.

i broke the cardinal rule of not having a gf by... having a gf. Thankfully I picked a right one that so far hasn't cost me alot and in fact shes a big saver herself (thanks to yours truly) and she started DCA investing in ES3 (she started last Dec, talk about perfect timing, she prolly outperformed me on an absolute basis and she doesnt even know what market cap means ).

i also drink but only on special occasions. My idea of drinking is a good bottle of wine/whisky and nothing less. If I wanna drink, I drink to taste, not to get drunk. That saves me money already even if the bottle can cost north of $100. It sounds ridiculous but i've done the math, many of my peers who drink to get drunk order cheap, sh1tty tasting drinks but order a lot, and that adds up to sometimes even double of what I normally buy.

i travel quite alot, I'm currently in Dubai for 3 months on attachment. Not exactly a cheap place to live in but I manage by being smart on buying supermarket food and eating in most of the time. Then will be backpacking for 2 weeks in Europe before coming back to start my internship and hopefully find a job! Hehe.

Yes this will cost a little but I believe in spending some money on myself whilst im still young, because I won't be able to climb mountains or have great sex when I hit "financial freedom" age... what's that.. 40? 50? I don't know. I can't project out my active income flow to gauge when I can retire but I've been thinking about retirement even before I've started working

It's about what makes you happy. No point chasing "financial freedom" so hard, living a miserable life for the first PRIME half of your life. I feel it's a giant waste. I'd gladly trade the possibility of my 80s and 90s for more guaranteed fun in my 20s and 30s.

So what I look for is a balance between being financially secure and living a fulfilling life. It's not easy but yeah, that's my take. My portfolio is prolly 10% of many people here , so my example isn't exactly as inspiring as someone with near 800k in cash/cpf

 

[SBC]

I only follows rule No 1 only...If ask me follows the rest of the rule...then life is meaningless....Anyway I have about million dollar cash ..and CPF ordinary(200k use up on hdb) 40k, special 92k...... Staying in HDB age mid 40s.....

With your high assets but CPF SA at 92k, are you self-employed?
Must be having good biz.

 

[Dyhalt]

Wow some of you guys are hardcore.

student here, graduating this year.

i broke the cardinal rule of not having a gf by... having a gf.

Actually you didn't break the rule if you are not paying the maintenance of having one, and maintenance I mean by:

1. Do you buy gifts & celebrate of over $200 on Bday, anniversary, new year, Christmas & Vday?
2. Do you have many planned travels overseas each year? (usually tied to point 1)
3. Do you forfeit a source of income(like tuition) just to spend more time with her?
4. Is your academic performance affected by the relationship? (Since study affects the first 3~10 years of working life, this affects greatly on your career too)
5. Do you pay for all your outings like dining, travelling, entertainment?

If all above is NO, congratulations you can have GF or multiple GFs if you are so capable... but 99% of the males can't do.

Cheers

 

[lovesleeping1981]

the best way to save money is not to spend money.

 

[malagas01]

the best way to save money is not to spend money.

If money is not spend ....meaning the money dont belongs to u.....life is meaningless and I see no point . Is like being a slavery to money. We comes to this world not to suffer ....Cant bring anything into the coffin. Well is good to save but not to be a super miser.

 

[malagas01]

With your high assets but CPF SA at 92k, are you self-employed?
Must be having good biz.

I had been working since early 20s ....

 

[malagas01]

If don't mind, can share how you accumulate the million dollar at mid 40s?
Since you have a car and smoke and drink?

I did some investments divorced and split my matrimonial asset Plus some money given to me from parents . They are still around too. I dont drink but smoke . Just bought a new 2000 cc car . Still goes holidays and find flings but no more into marriage n dating .Life is short just enjoy and dont over spend and commit .

 

[shared]

Wow some of you guys are hardcore.

student here, graduating this year.

i broke the cardinal rule of not having a gf by... having a gf. Thankfully I picked a right one that so far hasn't cost me alot and in fact shes a big saver herself (thanks to yours truly) and she started DCA investing in ES3 (she started last Dec, talk about perfect timing, she prolly outperformed me on an absolute basis and she doesnt even know what market cap means ).

i also drink but only on special occasions. My idea of drinking is a good bottle of wine/whisky and nothing less. If I wanna drink, I drink to taste, not to get drunk. That saves me money already even if the bottle can cost north of $100. It sounds ridiculous but i've done the math, many of my peers who drink to get drunk order cheap, sh1tty tasting drinks but order a lot, and that adds up to sometimes even double of what I normally buy.

i travel quite alot, I'm currently in Dubai for 3 months on attachment. Not exactly a cheap place to live in but I manage by being smart on buying supermarket food and eating in most of the time. Then will be backpacking for 2 weeks in Europe before coming back to start my internship and hopefully find a job! Hehe.

Yes this will cost a little but I believe in spending some money on myself whilst im still young, because I won't be able to climb mountains or have great sex when I hit "financial freedom" age... what's that.. 40? 50? I don't know. I can't project out my active income flow to gauge when I can retire but I've been thinking about retirement even before I've started working

It's about what makes you happy. No point chasing "financial freedom" so hard, living a miserable life for the first PRIME half of your life. I feel it's a giant waste. I'd gladly trade the possibility of my 80s and 90s for more guaranteed fun in my 20s and 30s.

So what I look for is a balance between being financially secure and living a fulfilling life. It's not easy but yeah, that's my take. My portfolio is prolly 10% of many people here , so my example isn't exactly as inspiring as someone with near 800k in cash/cpf

I like this. Money is important but it's not all. Don't need yolo, but live a little. Financial independence is an arbitrary benchmark. Work some, play some. Get a gf, enjoy relationship and work together to smoothen out differences.

But speedingbullet, if the average portdolio here is 2m, 10% of 2 mil is 200k, still a lot wor somemore u so young nia, 1991?

 

[doody_]

Best way to save money is to earn more money and adopt prudent spending. Naturally you will have lots of excess every month to save

 

[SpeedingBullet]

Actually you didn't break the rule if you are not paying the maintenance of having one, and maintenance I mean by:

1. Do you buy gifts & celebrate of over $200 on Bday, anniversary, new year, Christmas & Vday?
2. Do you have many planned travels overseas each year? (usually tied to point 1)
3. Do you forfeit a source of income(like tuition) just to spend more time with her?
4. Is your academic performance affected by the relationship? (Since study affects the first 3~10 years of working life, this affects greatly on your career too)
5. Do you pay for all your outings like dining, travelling, entertainment?

If all above is NO, congratulations you can have GF or multiple GFs if you are so capable... but 99% of the males can't do.

Cheers

We skip Vday. We buy cheap bday gifts or even have it handmade for sometimes less than $20. Christmas nth more than $50.

No. I'm gonna start working so I don't think I've the time. Did 6 months in Europe last year, this two weeks will prolly be my last for the next 2-3 years i think. I don't take spontaneous "staycays" or short "vacays", it's a waste. Rather save up for a big trip like I did last year, very fulfilling.

Haha never. Gf and I have an agreement. Career and $$ comes first. In fact we wanna up our income stream tgt . Yeah during exam times we have blackout in communications of 2-3 weeks.

All these must be made clear la in a r/s, if not will have many squabbles. But don't use my gf as an example that ALL girls are like this, I'm truly lucky and blessed to find someone like her, many of my peers have psychopaths for gfs and it's emotionally and financially taxing. That's why I can sorta understand why many here are against having gfs, maybe they've had a bad experience.

Nope, we go dutch on all.

I like this. Money is important but it's not all. Don't need yolo, but live a little. Financial independence is an arbitrary benchmark. Work some, play some. Get a gf, enjoy relationship and work together to smoothen out differences.

But speedingbullet, if the average portdolio here is 2m, 10% of 2 mil is 200k, still a lot wor somemore u so young nia, 1991?

Yeah, all these are just different paths or benchmarks if you will, to one's happiness. I know of people way poorer than any of us here but live a better quality of life. It's all about your perspectives and how content you wanna be.

1990, wah, ok lah I'm nearly there lah, havent hit 200k yet cos of the wild mkt gyrations.

 

[arctician]

force myself to save money by taking 700k debt to buy a condo..sounds like an oxymoron but it is a form of forced savings for past 5 years

every year just use my salary and rental income to service the loan, will be able to clear it by this year

should be able to achieve financial freedom by 34 with 3-4k rental income per mth

 

[luvalist]

force myself to save money by taking 700k debt to buy a condo..sounds like an oxymoron but it is a form of forced savings for past 5 years

every year just use my salary and rental income to service the loan, will be able to clear it by this year

should be able to achieve financial freedom by 34 with 3-4k rental income per mth

wow no gf or family yet I guess? that's quite a good move to make sure you "save"... then can prepare for 2nd property for ownself to stay...

 

[arctician]

wow no gf or family yet I guess? that's quite a good move to make sure you "save"... then can prepare for 2nd property for ownself to stay...

you are right .spouse with kids will change e equation liao

anyway principles for investing in real estate is similar to buying a value stock, have to buy at discounted valuations, gross rental yield >5%, monthly cash flow has to be net positive after servicing the loan

other ways i think can help save money

i) cash - can try parking in uob one, ocbc 360, esavers or uob high yield so cash returns always exceed 1.7%, this can help you offset core inflation
ii) real estate - remove agent commission by DIY advertisement on Airbnb for 6months lease. Save on housekeeping fees by washing the toilet/maintaining the apartment yourself
iii) stocks - lower commission fee by using Standchart at 0.18%
iv) Expenses - use the correct rebate card for online or offline spend. Like SCB singpost or uob one is a good choice

savings a coffe sachet, few cents from MRT is not gg to help..the marginal benefit outweight the marginal cost

 

[arctician]

Follow these 3 golden rules and you'll save lots of money

1. Don't get a girlfriend
2. Don't buy a car
3. Don't smoke & drink

this is only right in theory..but given the option i will still go for (1) and (2), life is all about the experiences, and experience..is intangible

 

[shared]

We skip Vday. We buy cheap bday gifts or even have it handmade for sometimes less than $20. Christmas nth more than $50.

No. I'm gonna start working so I don't think I've the time. Did 6 months in Europe last year, this two weeks will prolly be my last for the next 2-3 years i think. I don't take spontaneous "staycays" or short "vacays", it's a waste. Rather save up for a big trip like I did last year, very fulfilling.

Haha never. Gf and I have an agreement. Career and $$ comes first. In fact we wanna up our income stream tgt . Yeah during exam times we have blackout in communications of 2-3 weeks.

All these must be made clear la in a r/s, if not will have many squabbles. But don't use my gf as an example that ALL girls are like this, I'm truly lucky and blessed to find someone like her, many of my peers have psychopaths for gfs and it's emotionally and financially taxing. That's why I can sorta understand why many here are against having gfs, maybe they've had a bad experience.

Nope, we go dutch on all.



Yeah, all these are just different paths or benchmarks if you will, to one's happiness. I know of people way poorer than any of us here but live a better quality of life. It's all about your perspectives and how content you wanna be.

1990, wah, ok lah I'm nearly there lah, havent hit 200k yet cos of the wild mkt gyrations.

nice! But you are doing incredibly well at your age sia. 26 years old only. With your cas, bonds and what not, got 300k already?

 

[Trazora]

this is only right in theory..but given the option i will still go for (1) and (2), life is all about the experiences, and experience..is intangible

Importantly choose a sensible wife.

 

[StragenKreuss]

Suddenly all the successful big boys come in. Time for me to go hide one corner.