tag:blogger.com,1999:blog-3276688108456391559.post4880720890143537596..comments2024-02-27T13:41:46.698+08:00Comments on SG Young Investment: Readers' Challenge - Cutting Down Your Expenses in 2015 To Save 50% of Your MoneySGYIhttp://www.blogger.com/profile/09445517891969740960noreply@blogger.comBlogger21125tag:blogger.com,1999:blog-3276688108456391559.post-88211973285672248172015-02-14T12:19:22.490+08:002015-02-14T12:19:22.490+08:00Hi,
Yup, saving does help us to be more prudent i...Hi,<br /><br />Yup, saving does help us to be more prudent in our finances. Good job in saving 50% of your salary. Your money will definitely grow fast. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-74325632732191066622015-02-14T12:01:05.159+08:002015-02-14T12:01:05.159+08:00Nice article, I have in fact been actively saving ...Nice article, I have in fact been actively saving 50% of my salary for a few months and continuously thinking of ways to increase the amount.It is tough at first to do so but over time it actually 'forces' you to rethink your budget strategies and think of creative ways to cut costs and to increase your income. Some people may have higher income but if they cant manage their money they will just be saving as much as someone else with half or less of their income. Taking up saving plans also helps to enforce savings habits as well.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-78749560352444879892015-01-28T23:04:34.383+08:002015-01-28T23:04:34.383+08:00You're welcomed :)You're welcomed :)SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-78414008749936503362015-01-28T23:02:41.131+08:002015-01-28T23:02:41.131+08:00expense manager is a good app! thanks for introduc...expense manager is a good app! thanks for introducing.:)<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-78937451910659385052015-01-26T17:31:57.481+08:002015-01-26T17:31:57.481+08:00Hi secretinvestors,
I'm glad you like the aut...Hi secretinvestors,<br /><br />I'm glad you like the automatic savings plan idea. Yup, investment is important too once we go through the savings part. I'll add your blog to my list also. Thanks! SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-48928933873115847552015-01-26T17:27:00.854+08:002015-01-26T17:27:00.854+08:00Hi SGYI,
Really good idea there about setting an ...Hi SGYI,<br /><br />Really good idea there about setting an automatic savings plan. Really forces us to save for the long term. I'll probably set that up for my own use too!<br /><br />A complementary idea is to learn to invest some of that savings and let the compounding effects work for us.<br /><br />Have added your bloglink in my blog too. Care to add mine as well if its possible? :)secretinvestorshttps://www.blogger.com/profile/02516160455880025991noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-6119727598585553722015-01-26T17:24:29.438+08:002015-01-26T17:24:29.438+08:00Hi Jimmy L,
I'm glad to hear that. All the be...Hi Jimmy L,<br /><br />I'm glad to hear that. All the best to your savings goals!SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-48502254238128051822015-01-26T17:23:52.584+08:002015-01-26T17:23:52.584+08:00Hi dowz,
Yup, budgeting can help us to know where...Hi dowz,<br /><br />Yup, budgeting can help us to know where our money is going to. It'll help us to spend more efficiently on things that matters. Thanks for the recommendation and suggestion. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-80503336126410005462015-01-26T16:57:05.497+08:002015-01-26T16:57:05.497+08:00i will take up your challenge :)i will take up your challenge :)Jimmy Lhttps://www.blogger.com/profile/09659458711759857129noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-1053726223414314312015-01-24T12:38:43.289+08:002015-01-24T12:38:43.289+08:00In addition, i suggest doing active budgeting inst...In addition, i suggest doing active budgeting instead of expense recording. A software which is recommended to me is 'You Need A budget' which uses zero based budgeting. I started using that and it is really supplements expenses tracking very well.dowzhttp://www.dowzjourney.blogspot.sg/noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-72261613579416927592015-01-24T11:18:54.618+08:002015-01-24T11:18:54.618+08:00Hi Retail Trader,
Its easy to use. I like it too....Hi Retail Trader,<br /><br />Its easy to use. I like it too. Have been using it for the past few years. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-8756950650387653482015-01-24T01:30:29.833+08:002015-01-24T01:30:29.833+08:00I use expense manager on Android too. It's bee...I use expense manager on Android too. It's been a mainstay app for me for a few years now darrenhttps://www.blogger.com/profile/12207832191060889856noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-4183108649028807222015-01-23T22:01:10.996+08:002015-01-23T22:01:10.996+08:00Wow you reply pretty fast! Yes I would say $1000 i...Wow you reply pretty fast! Yes I would say $1000 is more reasonable to survive on actually, so will have to double my income to $10K a month. Thumbs up for your blog. I enjoyed reading plenty of the posts!JCnoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-52175574962349800432015-01-23T21:14:26.041+08:002015-01-23T21:14:26.041+08:00Hi JC,
You have to increase your income then. $50...Hi JC,<br /><br />You have to increase your income then. $500 is quite impossible to survive on in oir current society. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-14849150550769649212015-01-23T20:48:42.493+08:002015-01-23T20:48:42.493+08:0050% is incredibly difficult - if I save 50%, give ...50% is incredibly difficult - if I save 50%, give 20% to parents and 20% for CPF, i'll be left with $500. That's like back to college pocket allowance.JCnoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-23977141094585070142015-01-22T09:35:32.872+08:002015-01-22T09:35:32.872+08:00Hi LP,
Agreed. For everyonr its different. But I ...Hi LP,<br /><br />Agreed. For everyonr its different. But I think for most of us as average income earners, it is quite possible to save 50%. If we have variable income then just adjust accordingly with an estimated absolute amount like what you've said. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-48149453904760594152015-01-22T09:31:31.169+08:002015-01-22T09:31:31.169+08:00Haha, glad to hear that. Haha, glad to hear that. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-70177098807488912382015-01-22T08:01:22.818+08:002015-01-22T08:01:22.818+08:00Hahaha that was not what I meant.
50% is defintel...Hahaha that was not what I meant.<br /><br />50% is defintely a sweet spot challenge for me as it coincides with a balance view of easy and difficulty at the same time. Anything higher would hv been impossible for me. HahahaBhttps://www.blogger.com/profile/09041255778427742477noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-88761200855494695572015-01-22T01:20:57.799+08:002015-01-22T01:20:57.799+08:00Hi SGYI,
I think depending on one's income, 5...Hi SGYI,<br /><br />I think depending on one's income, 50% may be nearly impossible or very easy. It just doesn't scale proportionally, unfortunately. If you earn 8k a month, saving 50% is probably a different sort of challenge from saving 50% from say 2.5k per month. The quality of the challenge is very different :)<br /><br />For me, because my income is variable, I prefer to set an absolute amt for savings. This means I can either set aside more money by spending lesser or work harder to increase my income to achieve that target.la papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-48288549316460247272015-01-21T22:30:24.463+08:002015-01-21T22:30:24.463+08:00Hi B,
The challenge quite easy right? Lucky I nev...Hi B,<br /><br />The challenge quite easy right? Lucky I never put 75%. HahaSGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-73827315667438656582015-01-21T21:42:14.298+08:002015-01-21T21:42:14.298+08:00Hi SGYI
I can definitely take this challenge out ...Hi SGYI<br /><br />I can definitely take this challenge out on my own :)Bhttps://www.blogger.com/profile/09041255778427742477noreply@blogger.com