unit trust

It’s The Time Of The Year – Month For Holiday, Spending & Bonus

by FinancialDex
December 19, 2011March 7, 2012
Money Matters

Yeah! It’s the time of the year where people have already planned (and went) their holidays, made out a long list of items to buy (to pamper themselves or just anybody in mind) and collecting their well deserved bonus!

And in the usual Financial Planning sense – if you are one of those who are fond of spending away your bonuses (without even thinking and planning), here are a few tips that you may wish to consider to do so first before happily spending (or wasting) it away…

Note: the tips here are meant for your own good and really to help you with your future. Tips mentioned here are not in order of priority as well.

Five Good Tips To Help You With Your Year-End Bonuses

#1 Think Of Your Previous Purchases (Pampering)

Throughout the year, there have been many various types of sales events and the ease of buying things online has even became easier. If you have made your purchases during those times – it’s time to hold your expenses and think twice before spending your bonuses away. You may wish to consider saving a major bulk of it. If you find it hard to do so, just tell yourself you may get to spend a bit more from this saved amount in next year’s sales events.

How To Plan Against The Impact Of A Costly Tertiary Education

by FinancialDex
January 17, 2011
Financial Planning

There’s a recent news update that our Tertiary Education in Singapore is going to cost more. And the fee hike is applicable to this year’s cohort. Ouch!

So for those parents who are working hard to send their little ones in 10, 15 and 20 years time, what’s the financial impact should the fees of Tertiary Education to increase on an annual basis?

*source: todayonline.com

*For illustration purpose, I will be using the increment as 4% on the current annual fee of $7,170. Also assuming that the duration to get a degree is 3 years. Therefore, the total fee that we are looking at is $21,510. This amount is not inclusive of living expenses.

So, the new fee will be:

– $31,840 (an increment of $10,330 ) in 10 years time

– $38,738 (an increment of $17,228 ) in 15 years time

– $47,131 (an increment of $25,621 ) in 20 years time

And if you are concerned in planning for your little ones, here are a few common alternatives that you may consider in helping you to do so. There are also a few considerations that you may wish to take note.

1. Getting A Scholarship

2010 – A New Year To Start And Improve Your Financial Plans

by FinancialDex
January 1, 2010
Financial Planning

Happy 2010!

Phew! 2009 has been a rough year for many and there are many valuable lessons that one can learn from and apply to in 2010.

And some of these which I personally feel that it’s worthy to keep in mind at all times:

It’s wise to be more knowledgeable in what you are investing – nothing is safe till you know the risks involved.
It’s always good to diversify – not just your investment portfolios. Big companies with many years of history may just go bust overnight so do not put all your nest eggs into just one basket. In other words, it’s okay to have the same type of insurance plan with other companies. You need it too!

Not everybody will tell the truth – learn to listen and ask good questions and to put the feedbacks or answers down in writing (do verify after the writing)
What “goes down in March” will “come up in August” – this is an investment lesson or experience that I have personally went through. A unit trust that went real down in March 2009 (also the time when many people choose to sell off) climbed back up in August 2009 (and it was higher than the normal times). So do not follow what other average people do, learn to differentiate and understands from within.
Not all are down during the recession – many stock prices are down but not all and it’s evident in the property market (especially in Singapore) and in the prices of Gold (have you seen how it climb at the last few months of 2009). What this mean to all of us is that we need to understand how the financial market really work – relationship between various investment options like Equities, Commodities, Properties and Cash.

Take good care of your health. 2009 is the year that many people are concerned about their financial health but they are unable to get the insurance that they need. Common illnesses: Hypertension, High Cholesterol and Diabetes!

So will the new year in place, have you set aside some of your resolutions to start and improve on your financial planning?

If not, how about getting some pointers and guidelines from this blog?