Money earned is to be spent not to keep in the bank. Do you agree?

[Guest guest]

i disagree.how about u Spending money is easy  , saving is difficult.

[EasleyLim]

Considering how low the interest rates are, it might not be the best option.

[alien]

Dun spend every cents tht u earned.

[Guest]

14 minutes ago, EasleyLim said:

Considering how low the interest rates are, it might not be the best option.

 

Must save at least 30%, but definitely not in ordinary bank acc.

 

[Guest]

If everyone does not spend , do you think your company need to hire  you  since there  is not much business ? 

[youngpunk]

30% Spend;

30% Save;

30% Invest;

10% do something good for the world.

 

[FirsTimer]

there's only food to spend on, do you agree

[hairy springroll]

Must earn

must save

must spend 

must invest

 

[Guest Glyph]

At least to me, what I earned bought, I paid for with my time. That's the only true resource one has. Spend it wisely, they said.

[Guest]

my friend spend it on flowers bar. sauna.. shopping for clothes and keep when fat  cant wear throw.  holiday with bf paid half for him. loan to family , eating restaurants. etc . Thats enjoying life to the fullest he say not save save in the bank and torture yrself.

[abang]

I just got off the phone with an annoying Senior Financial Marketing Manager.   How dare him still want me to throw money into the vortex of the stock market?  Last week, my 老本/棺材本 almost vanished in thin air.  

 

At my age and health condition, there is very little expensive items to buy.  Now, just enjoy simple things in life- egg, vegetable and porridge.  The medical bills are too high and don't tell me that putting money in the bank is foolish.  At least the small sum remains.  I can safely and impulsively go to Malaysia/Thailand/Ho Chi Ming or Hong Kong for a week for less than $500.

 

嗯。。。有钱就可以任性。。。。。没钱，只能等死。。。

 

 

 

[youngpunk]

5 minutes ago, abang said:

I just got off the phone with an annoying Senior Financial Marketing Manager.   How dare him still want me to throw money into the vortex of the stock market?  Last week, my 老本/棺材本 almost vanished in thin air.  

 

First rule of trading: buy low sell high. So as a principle, nothing wrong with the advice to enter the market during a downturn to pick up bargains. In fact, that's what many investors have been waiting for. 

 

Also, depending on what stocks you bought, as long as you don't sell, they're just paper money. Chances are, if you don't get spooked and withdraw now, when the market recovers your 棺材本 will also be back, in time for your...you know. 

 

[abang]

Forecast	Actual	Q1/16	Q2/16	Q3/16	Q4/16	2020	Unit
Stock Market	2751	2730	2660	2590	2520	3360	points

 

Of course, the common wisdom is to buy low sell higher at a profit.  

But with Singapore's and global economy spiraling downwards, would I have to wait at my deathbed (actually happening soon)?  If I want a little risker stuff, I can always "makan" another 100g of Bak-Kwa.  No money, 做鬼都不Lang (not 靓， in 粤语）

[Guest]

the younger generation tends to spend  on credit card like no tomolo. The older generation every cents counts so keep and keep in bank. after  pass away the  money will be spend by some one else.

[Guest]

Here and in uncertain days where there's no security net, low job security and easily replaceable by imports, best have some in the bank for rainy days.

[azimuth]

You need to save for a rainy day or for your future big purchases (think medical bills and the likes). We definitely need to spend, but I guess the rule of thumb is to spend with your brain and not with your heart. :-)

[evianguy]

Don't save all but don't spend all either. There has to be a happy balance that would keep money aside for rainy days and emergencies and at the same time allow you to give yourself a treat once in a while. 

[xboyhunk]

Money is meant to be spent. Keep it in the bank so you can take it out and spend it at the right time. Don't put money in a place where it can get lost or cannot be taken out when you need it.

[Guest]

36 minutes ago, xboyhunk said:

Don't put money in a place where it can get lost or cannot be taken out when you need it.

 

Funny, I have a distant aunt whois quite old who hides her money all around the house. Every few days she'll change the location of the money.

[loacker]

i believe in work life balance..after all ur hard work, for sure u need to pamper back urself with sth u like be it electronics gadgets, travels or etc..

just spent wisely and within ur budget, and save some for rainy days..

just dun be too stingy to urself, save up every penny and thinking off u will retire and then only start to enjoy life by spending that portion of money..

i would say life is short and unpredictable..

[azimuth]

6 minutes ago, loacker said:

i believe in work life balance..after all ur hard work, for sure u need to pamper back urself with sth u like be it electronics gadgets, travels or etc..

just spent wisely and within ur budget, and save some for rainy days..

just dun be too stingy to urself, save up every penny and thinking off u will retire and then only start to enjoy life by spending that portion of money..

i would say life is short and unpredictable..

 

I agree. Unpredictable indeed. You never know whether you can eventually spend the money you work so hard for tomorrow anyway. :-)

[lonelyglobe]

16 hours ago, loacker said:

i believe in work life balance..after all ur hard work, for sure u need to pamper back urself with sth u like be it electronics gadgets, travels or etc..

just spent wisely and within ur budget, and save some for rainy days..

just dun be too stingy to urself, save up every penny and thinking off u will retire and then only start to enjoy life by spending that portion of money..

i would say life is short and unpredictable..

 

16 hours ago, azimuth said:

 

I agree. Unpredictable indeed. You never know whether you can eventually spend the money you work so hard for tomorrow anyway. :-)

absolutely....a lot of the famous and rich left this world in their 40s and 50s, leaving their hard earn money for others to enjoy.....for me, spend 70% and save 30% is the right thing to do and remember "prepare for rainy days while enjoying sunny days"

[Steve5380]

On 1/10/2016 at 9:15 AM, Guest said:

If everyone does not spend , do you think your company need to hire  you  since there  is not much business ? 

 

But you are not everyone.

Let the stupid spend on stupidities.

Spend only on the essentials and the extras that are of value to you.

In this way, you influence the market to supply the goods and services you like.

[Guest Fatty]

12 hours ago, xboyhunk said:

Money is meant to be spent. Keep it in the bank so you can take it out and spend it at the right time. Don't put money in a place where it can get lost or cannot be taken out when you need it.

Like CPF?

[Anderson]

Usually those who spend all they earn lives with their parents.

They have no worries about paying the next rent or the possible "rainy days".

And even if out of job, they can still live off their parents for as long as they need to.

[xboyhunk]

1 hour ago, Guest Fatty said:

Like CPF?

 

Not referring to CPF as we have no choice to make. Referring to investments with long lock-in periods averaging 25 years like land banking, etc.

[Clickclock]

partially, obviously the money has to go somewhere otherwise what's the point of earning it anyways.
I would set aside a portion of my money for rainy days like illnesses.

[azimuth]

Talking about savings and spendings, ensuring that you are adequately insured is also important. Imagine you are saving and something comes along and wipes out a good chunk of your savings.

[wilfgene]

The next table was exclaiming how I splurged.

"Money is earned to be spent."

Now, I realize there is pleasure in being able to spend, yet not spend. Like sperm.

[Traveler3032]

 Money earned is meant to be spent in your lifetime or left to your offspring.  Since your earning potential changes over time, but your living standard changes to a lesser degree, thus there is a need for savings and investment.  Essentially,  savings is a tool to smooth your consumption over your lifetime. To spend all today means poverty when you are old. 

[azimuth]

5 hours ago, Chukie Guido said:

That makes little sense to me...I have saved for exactly for that reason...in case something happens....so to buy insurance products that are way too expensive and have high commission are for people who refuse to save not for those who have a safety net...anyhow, some insurance might be good...but its mostly useless to many of us

 

 

I think the general rule is that insurance helps us to tide over an incoming large expense that is beyond our capability to pay at the point in time. Of course, not all insurance are necessary and is subject to the lifestyle of the individual.

[leo yok loo]

Is always good to have money in your bank account.  It gives us confident.

[lonelyglobe]

On ‎14‎/‎1‎/‎2016 at 6:03 PM, azimuth said:

 

I think the general rule is that insurance helps us to tide over an incoming large expense that is beyond our capability to pay at the point in time. Of course, not all insurance are necessary and is subject to the lifestyle of the individual.

can opt for those that come with saving plan as well.....and is never too early to start, I got mine in my late 20s and thought that it will be a long time before maturity but then time really fly and in a few years time will be getting my saving back, looking back I have to thank the 20s me for making that decision though it would have been better if I have start even earlier...........

[Guest teatree]

There are many products out there sold by the banks or in collaboration with the insurance companies. Generally, selling point is guaranteed principal sum plus higher returns than the saving accounts. Bottom line is don't over insured yourself.

[Guest Fatty]

On 12/01/2016 at 10:55 AM, Guest said:

 

Funny, I have a distant aunt whois quite old who hides her money all around the house. Every few days she'll change the location of the money.

 

LOL. My uncle does that too

[wilfgene]

It is indeed a pleasure to spend.

However, there is also a pleasure to afford to spend, yet not to spend.

 

Only when the inflation rate is higher than the bank interest rate.

[wilfgene]

It is indeed a pleasure to spend.

However, there is also a pleasure to afford to spend, yet not to spend.

 

Only when the inflation rate is higher than the bank interest rate.

[Guest Guest]

My view is spend what is necessary, occasionally can splurge (wisely). Important to save too for rainy days. 

 

A relative of mine worked hard and saved up a fair bit for her entire life. She had been very thrifty and didn't even bear to spend on holidays and (more) expensive things. She was diagnosed with cancer and barely lived for 4 months. Her daugther inherited her hard earned money, which was shared among her family. 

 

Question is why do we work so hard for? Better living right? And hopefully not at the expesnse of our health. I will regret big time if I were to leave the world with lots of money unspent. 

[Guest Guest]

Spend on expensive item like car or house. Can wipe out most of your saving.

[sum1outhere_03]

Do some goggling to learn how to save.

 

Usually, people save for the plan of retirement. Here's how you could:

 

http://money.cnn.com/retirement/guide/Basics/?iid=EL

 

http://blog.moneysmart.sg/education/everything-need-know-education-loans/

[snowball]

不懂得投资，就安份的把钱乖乖存放在银行，但切记，别做钱的奴隶，要适当的运用赚到的钱，只有花掉的钱才是真正属于自己的，否则死后那也只是 " 遗产 "

[doncoin]

Spend on the right things and keep for the right things. 

[Guest Hot Swimmer]

Save money and spend wisely. Do not spend on money boy. Do not get yourself a wife. Wife will spend all your hard earned money without thinking twice. Do not spend on car. It will only devalue year by year.

Spend on your health care, join a gym and exercise regularly. Spend on courses and books to improve your mindset.

[Guest guest]

how about spending at sauna.Spend doing cosmetic surgery. Spend buying a Hdb flat.Spend on holiday.

[Guest Guest]

I spend my money on buying a house.

[fab]

The amount one is supposed to spend is predestined.

 

Just spend within your ability.