Money and Finance
It's pretty simple. I refer to a post from
The Real Singapore (TRS) http://therealsingapore.com/content/survey-90-young-singaporeans-are-worried-about-their-future-finances
90% of 1000+ youths is an alarming number of over 900+ teenagers and young adults that are not confident about their financial future.
What's worrying is that 80% of youths do not have their basic emergency fund. For queries on how and why you should build your own emergency fund refer to my post in August here: http://teenageinvesting.blogspot.sg/2014/08/why-every-singaporean-should-have.html
Emergency Expenses are highly unpredictable, hence the word Emergency. If you fail to plan, you most definitely plan to fail.
And these are not just students from polytechnics or universities. Even many of those that are in the workforce consider their savings as emergency funds. Please understand that emergency funds and savings should and must, be kept as 2 different pools of money.
80% of the people surveyed already have low confidence in their future. Why? Because they have not began planning. Planning doesn't come naturally as you grow up. It comes only when you have decided to take charge of your life and not leave it to fate.
Additionally, most respondents feel that $1 million would be necessary to retire comfortably. But how many actually even come close to saving that amount?
Don't forget Singapore has now come close to being the most expensive country to live in, if it isn't already is.
iPhone 6 and 6Plus cost about US $100-200++? In Singapore it's $1000++...
Start planning early. The choices you make early in life will affect your life many years down the road. Will your future self thank you or hate you for the choices you make now? That's something only you can decide. No one else can.
Signing off,
Teenage Investor
- Life Goes On In The World's Most Expensive Country
Hello everyone, it's been quite some time since my last post. Have been catching up with my studies, going for army check-ups and everything else that goes on in a life of a polytechnic student. I recently received an email from Hady, who found...
- Is Having No Money Really A Reason Not To Plan For Your Future?
So, I received this comment today. I understand where "Anonymous" is coming from, but at the same time this comment is worrying because I feel that many other teenagers and young adults are feeling the same way. Firstly, having no money is never an excuse....
- Why Are Singaporeans Getting The Least Amount Of Sleep ; What I Really Think About Roy Ngerng
http://singapore.coconuts.co/2014/08/20/singaporeans-get-some-least-sleep-world-jawbone-study I refer to this link, and the rising cases I see of Insomnia on my Twitter feed and personal experience. While I may not know what other teenagers may be losing...
- Why Every Singaporean Should Have An Emergency Fund ; Especially Teenagers.
Emergency Funds.... what are they? Why should we have them? Many reasons. In the basic sense of the word, Emergency Funds are for emergencies. Let's say, you currently only have your savings. And suddenly, an unexpected expense occurs. Maybe you got...
- 80% Of Young Singaporeans Have Little To No Savings At All ; Are You One Of Them?
According to this link (http://sbr.com.sg/financial-services/news/disaster-in-making-4-out-5-young-singaporeans-have-no-savings) 4 out of 5 Singaporeans have little to no savings at all! True? Source: Singapore Business Review Now, firstly I would not...
Money and Finance
Why 90% of Young Singaporeans Are Worried About Their Financial Future ; Singapore is the Most Expensive Country to Live In
It's pretty simple. I refer to a post from
The Real Singapore (TRS) http://therealsingapore.com/content/survey-90-young-singaporeans-are-worried-about-their-future-finances
90% of 1000+ youths is an alarming number of over 900+ teenagers and young adults that are not confident about their financial future.
What's worrying is that 80% of youths do not have their basic emergency fund. For queries on how and why you should build your own emergency fund refer to my post in August here: http://teenageinvesting.blogspot.sg/2014/08/why-every-singaporean-should-have.html
Emergency Expenses are highly unpredictable, hence the word Emergency. If you fail to plan, you most definitely plan to fail.
And these are not just students from polytechnics or universities. Even many of those that are in the workforce consider their savings as emergency funds. Please understand that emergency funds and savings should and must, be kept as 2 different pools of money.
80% of the people surveyed already have low confidence in their future. Why? Because they have not began planning. Planning doesn't come naturally as you grow up. It comes only when you have decided to take charge of your life and not leave it to fate.
Additionally, most respondents feel that $1 million would be necessary to retire comfortably. But how many actually even come close to saving that amount?
Don't forget Singapore has now come close to being the most expensive country to live in, if it isn't already is.
iPhone 6 and 6Plus cost about US $100-200++? In Singapore it's $1000++...
Start planning early. The choices you make early in life will affect your life many years down the road. Will your future self thank you or hate you for the choices you make now? That's something only you can decide. No one else can.
Signing off,
Teenage Investor
- Life Goes On In The World's Most Expensive Country
Hello everyone, it's been quite some time since my last post. Have been catching up with my studies, going for army check-ups and everything else that goes on in a life of a polytechnic student. I recently received an email from Hady, who found...
- Is Having No Money Really A Reason Not To Plan For Your Future?
So, I received this comment today. I understand where "Anonymous" is coming from, but at the same time this comment is worrying because I feel that many other teenagers and young adults are feeling the same way. Firstly, having no money is never an excuse....
- Why Are Singaporeans Getting The Least Amount Of Sleep ; What I Really Think About Roy Ngerng
http://singapore.coconuts.co/2014/08/20/singaporeans-get-some-least-sleep-world-jawbone-study I refer to this link, and the rising cases I see of Insomnia on my Twitter feed and personal experience. While I may not know what other teenagers may be losing...
- Why Every Singaporean Should Have An Emergency Fund ; Especially Teenagers.
Emergency Funds.... what are they? Why should we have them? Many reasons. In the basic sense of the word, Emergency Funds are for emergencies. Let's say, you currently only have your savings. And suddenly, an unexpected expense occurs. Maybe you got...
- 80% Of Young Singaporeans Have Little To No Savings At All ; Are You One Of Them?
According to this link (http://sbr.com.sg/financial-services/news/disaster-in-making-4-out-5-young-singaporeans-have-no-savings) 4 out of 5 Singaporeans have little to no savings at all! True? Source: Singapore Business Review Now, firstly I would not...