Friday, 22 January 2016

My Dysfunctional Family Background: How It Shaped My Early Financial Thinking

My mother was a diagnosed schizophrenic and my father an alcoholic.  I only knew the term "dysfunctional" when I reached adulthood and realized that my family situation could probably be termed as such.  Starting from when I was only a one-month old baby, I was raised by a nanny whom I affectionately called "Grandma", up to the age of 16.  Details were fuzzy but the reason given was that my parents couldn't handle 5 children when I was born.  (In fact, they probably couldn't even take care of themselves.)

Monday, 18 January 2016

If you’re thinking of sending your kid to tuition, read this!

On returning to Singapore a few years ago, I realized that if any business is growing and thriving better than any other, it’s tuition centers! There is practically one or more in every shopping mall, at void decks and even within the schools. They are everywhere: it almost sounds weird if your child is not in some tuition programme. 

If you are indeed considering sending your child for tuition, enrichment or whatever name it’s called nowadays, please take a few steps back and think through a few things before committing yourself: 

Wednesday, 13 January 2016

Making CPF Work for Us!

Picture source:
I did not have a positive view of CPF when I first started work 20 years ago and received my first CPF account statement. Like many Singaporeans, I saw it as “forced” savings, taking away part of our pay before we even had a chance to use it. Years later, after reading up more on personal finance, my perspective changed.

Tuesday, 12 January 2016

5-Step Process to Build Up Your "Goose" Account (which lays the Golden Egg!)

Image result for goose that laid the golden eggIn one of my earlier posts, I talked about the importance of building up a reserve to handle emergencies, as well as excess which we can place in our “Goose” Account for investment.    But pressure to spend exists everyday.  How do we manage it? 

Friday, 8 January 2016

14 year-old Son to Me: "Stocks Move In Cycles, Mama!"

I was sharing with my 14-year-old son just yesterday how stocks are all going downhill and it seems that everything was "doom and gloom".  He then reminded me, "Stocks move in cycles, Mama!"