Wednesday 8th Feb 2012 02:08 PM
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Wed, 04/23/2008 - 13:06
Obviously we all know by now that everything in life is NOT one-size-fits-all...
For Financial Education, we know that what applies to a young student, will not interest a middle-aged savvy investor, and vice versa. Knowledge even the Banks are applying to their products, differentiating most of them for each type of customer. Of coz the middle rules still apply, and things like growing your wealth, keeping it well.
Would like to ask the members for views! What products will interest the following groups? Which group do you fall in? What type of loans, insurance, payment modes are useful to each group?
(1) Student
(2) Fresh working executive
(3) Savvy investor
(4) Housewife
(5) Retired or semi-retired
I'm actually 2++ as i'm not really a fresh working executive. This are the current stuff affecting me.
Loans:
- HDB Loan via CPF (not really a big issue as the interest rate is rather low as compared to the finance houses or banks.
Installments:
- Furniture and Renovation (Gotten my house last year, wallet and pocket took a heavy beating)
Insurance:
- CPF investment with Finance institution (not stating which one as not to encourage or discourage any of them)
- Home Insurance
- Hospital Insurance (sufficient coverage for illness and stay in hospital...protected in that sense)
- Other investment plans to grow more wealth for retirement.
Payments:
Generally pays my bills by credit card if possible (So to gains the points / lucky draw chances / extra 30 days grace as mentioned in another topic)
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
im self-employed + business partner
me main issue is no fixed income
but also no fixed expenses
working from home also cut down a lot on transport, food.....
and still living with parents! =p
can considered quite in control of my finances but i'm afraid i can't survive well in rainy days
have learnt to be really calculative (don't know if it's good or bad) when it comes to money
but it's not a bad thing to know that there are ways to save and spend wisely..... such as cutting down on buffet dinners, buying promo items at supermarkets..... club once or twice a month instead of once a week.......
certainly have sacrifices to be made... or rather... adjustments in lifestyle and expectations....
though ppl always say Singapore is high cost of living, everything expensive.... but i believe tt it's up to individual to choose where to spend their money...
there are ppl who earn 1k a month but can save $200 every mth w/o fail
there are ppl who earn 4k a month but forever has outstanding bills with banks
Hi FireIce,
I can identify with a lot of what you are sayings...
Things about being self-employed...no fixed income...making financial sacrifices...budgeting...
there are ppl who earn 1k a month but can save $200 every mth w/o fail
there are ppl who earn 4k a month but forever has outstanding bills with banks
Absolutely. You can appear rich and still be a pauper if you do not live within your means.
Jag
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"The point is, ladies and gentleman, that greed - for lack of a better word - is good..."
Gordon Gecko, "Wall Street", 1987
Woah...
"there are ppl who earn 1k a month but can save $200 every mth w/o fail
there are ppl who earn 4k a month but forever has outstanding bills with banks"
Thanks for the enlightenment and encouraging words.