Posts Tagged ‘car’

Scrooge or Shopaholic?

Wednesday, April 15th, 2009

Thought of the day:

[note]Smart money management isn’t about saving every dollar possible and deferring all gratification, even in a recession. It’s about striking a balance between today and tomorrow.[/note]

If you, like me, are still trying to find your footing in the world of personal finance, finding your balance is very important. If you were to lean too much on to either side – spend too much or spend to little, you’ll end up feeling miserable! Yes! Saving too much can make you unhappy!

Let me state an example:

Awhile ago, a few people around me were going for vacations. I knew they didn’t make a boat-load of money, but yet they seem to be traveling all the time, whereas, I’ve hardly been traveling, and when I do, it’s just to Malaysia. It didn’t feel right at all, and it seemed like I wasn’t making enough, and I knew that wasn’t true.

Then I came to realized that in the attempts to accelerate my savings goals, I’ve been putting unnecessary pressure on myself, and becoming grouchy as a result. I also realized that a huge chunk of money that could have been vacation money, was actually spend on petrol and car related expenses. I’m fine with that for now. I like the car.

Understanding where your money goes really does help you find that balance in life. So strike a balance, yo!

How does location affect cost?

Friday, March 20th, 2009

(Part of “The Almost Complete Goondu’s Guide to Buying a HDB Flat in Singapore” series.)

Now that you know you are eligible to buy a flat, and how much your flat should cost, the question to consider next is where. If you are eligible for housing grants, where can mean an extra $30k in grants. If you choose to buy a HDB in the same estate as your parents (eg. Bishan-Bishan, Tampines-Tampines, Bedok-Bedok), or within a 2km radius (eg. Bishan-Toa Payoh, Simei-Tampines), you get an additional $10k on top of the $30k family grant.

There are pros to living near your parents. They can spend time with their future grandkids and help you babysit, and it would be more convenient to visit them.

However, if your parents currently live in ‘hot’ estates like Chinatown, Queenstown, Tanjong Pagar (basically areas near the city), where property prices are sky-high, you might be limited to smaller flats in order to fit within your budget.

Eg. A $317k budget could get you a small 4 room flat in Simei, but only a small 3 room flat in Chinatown.

Some people choose to live further away from town, where flat prices are cheaper, and instead choose to get a car to make up for the distance. Most would regard a flat as an asset, and a car as a liability, due to its high costs of maintenance. Do your calculations and choose what works best for you.