Financial Management
Dont be chained to loan woes (Sunday Times 28 Feb)
It must be tempting to splash out a bit now that the worst of the recession – and the belt-tightening that it forced on us – is over.
After all, some firms have started restoring pay cuts to employees and year-end bonuses have been paid.
With the mood improving, the urge to snap up that big-ticket item with cash or a loan is getting stronger.
Using cash is one thing, but excessive borrowing can lead to financial trouble.
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Love me, love my money habits (Sunday Times 14 Feb)
Feb 14, 2010
Love me, love my money habits
Romance aside, talking about financial issues is also important for a healthy relationship
It is Valentine’s Day today. A day of romance, roses, wining and dining. While the soft aspects of a relationship are important, let us not be so caught up in it that we forget that one cannot live on love and fresh air alone.
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Master your card (Sunday Times 7 Feb)
If you have developed the bad habit of rolling over your outstanding credit card bills instead of paying them in full, you have plenty of company in Singapore.
You would have contributed to the mind-boggling $3.68 billion in credit card debt chalked up by card users last year alone. Latest statistics show that this mountain of debt grew 9.5 per cent from 2008.
And do not blame all of the increase on new cards issued last year: They grew by a smaller 6.7 per cent.
So what are the likely causes of this crippling debt pile?
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Balancing risk and reward (Sunday Times 24 Jan)
Jan 24, 2010
Balancing risk and reward
When investing money, consider your need and ability to take risk
The other side of the coin is when investors get so caught up chasing high returns that they ignore the risk element.
So it’s worth trying to understand what your personal risk profile is before investing your money.
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Strategies of a financial advisor (Sunday Times 24 Jan)
Jan 24, 2010
Strategies of a financial adviser
Options and CPF may offer better returns than stocks and fixed deposits
What do financial advisers do with their own money that most individuals don’t do? I can’t speak for advisers as a group, but I can give you a selection of insights into my own strategies. But bear in mind that these approaches may not be suitable for everyone.
I don’t use fixed deposits
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2010: The Best of Times Or The Worst? (Robert Kiyosaki)
“It was the best of times. It was the worst of times.”
– Charles Dickens
Is the recession over? Are happy days really here again? Paraphrasing Dickens, my answer is, “For people who are prepared, 2010 will be the best of times. For many, 2010 will be the worst of times.”
The following are a few of my predictions and reasons behind them…
Prediction #1: The real estate market will crash again.
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STI headed for major correction around June: DBS (ST 13 Jun)
Jan 13, 2010
STI headed for major correction around June: DBS
But expect another rally in second half of the year, and 15-20% gain at year-end
IF HISTORY repeats itself, Singapore’s stock market will undergo a major correction around June – 16 months after this rally started.
That is according to DBS Bank’s analysts, who have noted that after the last two major recessions, the initial stock market rallies that followed lasted exactly 16 months each.
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Why The Rich Get Richer (Robert Kiyosaki)
Taking Steps To Prepare For The Worst
In Sunday school I was taught the parable of the pharaoh of Egypt and his dream of seven fat cows being eaten by seven skinny cows. Deeply disturbed, the pharaoh sought the interpretation of his dream. A young slave boy interpreted the dream to mean Egypt would have seven years of plenty to be followed by seven years of famine. The message: Prepare for the lean years during the years of plenty. The pharaoh prepared Egypt for the lean years and led it into an era of prosperity.
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Calling the shots from the grave: wills (Sunday Times 10 Jan)
Jan 10, 2010
Calling the shots from the grave
Besides dividing up the estate, making a will gives a person a ‘voice’ after his or her death
When it comes to making a will, most Singaporeans seem to prefer to put it off until the last minute, but that can be cutting things a bit too fine.
There is a wealth of reasons to get your affairs in order well before the fateful day, but complacency continues to rule in this area of financial planning.
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Dont fall for the lure: churning of CPF funds (Sunday Times 27 Dec)
Dec 27, 2009
Don’t fall for the lure
Some people are letting financial advisers ‘churn’ their CPF savings to pocket cash rebates – a risky and illegal practice
The lure of getting their hands on some quick cash from their Central Provident Fund (CPF) savings is leading Singaporeans into a minefield of legal and financial risks.
And if you are found guilty of violating CPF rules, you may find yourself poorer by as much as $10,000 or more.
The experience of Mr George Low (not his real name) illustrates the dangers.
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Where to put your money next year (Sunday Times 20 Dec)
Where to put your money next year
The world economy has got off the deathbed but its recovery in the year ahead will be sluggish. Gabriel Chen gets tips from financial experts for 2010 and finds out where the traps might be.
Dr Mark Mobius, executive chairman of Templeton Asset Management:
‘We believe commodities will continue to do well, and that includes gold. Commodity stocks look good because we expect the global demand for commodities to continue its long-term growth. To keep pace with domestic consumption, commodity prices will remain positive and though they will fluctuate from time to time, the overall trend globally is upwards.’
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Financial help for debt (Jason Holmes)
Title : Financial help for debt
Debt consolidation is a debt relief option that has helped many debtors to get out of debt and enjoy a debt free life. You can derive benefits from debt consolidation too provided you are serious about this option that can bring financial stability in your life. You can seek assistance of a debt consolidation company that will help you in enjoying better financial terms. This is achieved either with the help of a debt consolidation program or a consolidation loan.
How will debt consolidation program give you financial stability?
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Generation Y feels financial hardships (Daily Telegraph 22 Oct)
Wake up call … Sophie Whitby and Amy King in Sydney yesterday. Source: The Daily Telegraph
GENERATION Y – the group that has never known financial hardship – has awoken to the rude realities of modern life.
Australian National Retailers Association research has found that Gen Y is running scared from the aftermath of the global crisis.
The survey of 1000 Australians found the generation once known for job-hopping was now more worried about hanging on to work. A third of 18-24 year olds felt their jobs were at risk in the current December half-year. Only 21 per cent of the general population were worried about their job security.
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Merit in a small loan programme in S’pore (ST 13 Oct)
Merit in a small loan programme in S’pore
By Lee Yoong Yoong, For The Straits Times
HOW do you live on an income of less than US$2 (S$2.80) a day? More than a quarter of the world’s population struggle with this question every day. According to the World Bank, of the 1.6 billion people who fell into this category last year, 1.4 billion survived on less than US$1.25 a day.
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You can run, but you can’t hide (Sunday Times 11 Oct)
You can run, but you can’t hide
Bad credit history will catch up with you, making it difficult to get mortgages or loans
By Lorna Tan, Senior Correspondent
Many people do not understand the importance of maintaining a good credit history. Did you know, for instance, that if your credit history is less than satisfactory it may be tough to get a mortgage or a personal loan?
Notching up a poor credit history is not that hard to do but the good news is that those who blot their copybook can make amends over time to help remove the stain.
