As our economy changes due to the changes in how we work, live and play, I believe that the future will be about creating multiple income streams and not relying on just your career. If you look at the proliferation of marketplaces that can help to monetise anything from your parking space (ParkAtMyHouse.com), your empty […]

Many a times, I find myself in situations where I need to make compromises to what I had to do because of money or the work that produces the money. Either way, it is not a pleasant thing to do, especially when the things you compromised are priceless. This weekend, I had to return to […]

When I googled for ‘how much money to retire in Singapore’, I came across a Kiasu Parents thread that asks its forum members on what is the amount of money that one needs to retire comfortably in Singapore. Below is the poll result. 84% of the respondents said that they need at least SGD1M and […]

You must have seen this before: “Buy this car and pay only $500 monthly installment. As a bonus, we will waive the first installment for you!”. This marketing message of only spending $500 for your car has been drilled deep into people. When I hear friends discussing the purchase of a car, the conversation centers […]

I realise I made a horrible mistake in my monthly cash flow budgeting. I used monthly spending but I should have used annual. Reason? There are many items that are spent irregularly over a year but they can take up a big chunk of money. If you are not careful, they might reduce your cash […]

Breaking bad spending habits is the first way to exercise your frugal muscle. It is easy to say but every attempt I have made has failed so far.  After all, men are creatures of habits, aren’t we? If everyone can change our behavior based on what is really good for us, we will have no […]

It is common to ask how to retire early if I have no money. This seemingly straight forward question actually has a wide range of possibilities and also masks a hidden danger. Why do you have no money in the first place? So, let me go through the different scenarios and analyze your early retirement […]

Most financial advice are really meant to sell their products. It is with this perspective that I am reviewing DBS’s myretirement plan. Let’s start with the principles behind the myretirement plan: The earliest you can retire is at 50 No mention of controling of cash spending No gurantee returns Everything above is what is wrong […]

Tracking expenses is the first important step to exercising your frugal muscle. (I have talked about the concept of frugal muscle here). Without knowing how much you spend, there is no way for you to know what to cut down and by how much. This may sound simple but I DARE you to produce a […]