Savings...
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That is if your parents have 1k to give you per monthOriginally posted by dragg:if i earn 1k a month i will take 1k from my parents and save 1k.
people can barely survive on a 1k salary, let alone save.
Anyway, shouldn't you be giving money to your parents instead of taking from them if you are working? -
Some of us are qiong2 shu1 shen1, money is either gotten from loan, allowances or tuition... where got extra money to give parents
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ah.. damn.. i forgot about my loan!Originally posted by DriftingGuy:Some of us are qiong2 shu1 shen1, money is either gotten from loan, allowances or tuition... where got extra money to give parents 
how am i gg to save up for my flat 
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of course got!!Originally posted by DriftingGuy:Some of us are qiong2 shu1 shen1, money is either gotten from loan, allowances or tuition... where got extra money to give parents
I can fork out $200 per mth for my parents every mth when I was in NS.
I don't think it is such a big problem!!
as long as u can control yr expenses, giving an allowance is not a problem -
Err there is still your darling maOriginally posted by shinta:ah.. damn.. i forgot about my loan! how am i gg to save up for my flat
Plus, it will come from your CPF
You only need to worry about the furniture and fixtures and maybe your reno loan.
Anyway, try to buy a flat asap because it will get more and more difficult to buy a flat as time passes. -
har? no lar.. this one is not love nest lar... joint ownership with mama... if i'm gettin a flat with my husband, i'm definitely not goin to let them move in.. thats for sure.. maybe my bro.. but the rest... wait long long..Originally posted by elindra:Err there is still your darling ma
Plus, it will come from your CPF
You only need to worry about the furniture and fixtures and maybe your reno loan.
Anyway, try to buy a flat asap because it will get more and more difficult to buy a flat as time passes. -
CPF with minimal renovations and just the basic no frills furniture and fixtures should be fine laOriginally posted by shinta:har? no lar.. this one is not love nest lar... joint ownership with mama... if i'm gettin a flat with my husband, i'm definitely not goin to let them move in.. thats for sure.. maybe my bro.. but the rest... wait long long..
Just have to be careful on what you spend on. -
hope soOriginally posted by elindra:CPF with minimal renovations and just the basic no frills furniture and fixtures should be fine la
Just have to be careful on what you spend on. -
Be thrifty should be ok la.Originally posted by shinta:hope so
Worse case scenerio take a part-time job on top of your work -
i'd die.. ask them to slp on the streets!Originally posted by elindra:Be thrifty should be ok la.
Worse case scenerio take a part-time job on top of your work 
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Originally posted by shinta:i'd die.. ask them to slp on the streets!
Can't your other siblings help with the other payments?
I think if everyone were to chip in a little, it would help alot. -
i must be prepared to be the one payin for everything...Originally posted by elindra:
Can't your other siblings help with the other payments?
I think if everyone were to chip in a little, it would help alot.
cos.. chances are... i'd be the one payin for it... -
Find a job that pays more?Originally posted by shinta:i must be prepared to be the one payin for everything...
cos.. chances are... i'd be the one payin for it... -
o level only worOriginally posted by elindra:Find a job that pays more? -
Sorry not much helpOriginally posted by shinta:o level only wor
Hiaz, have to be careful with expenditure then I guess. -
If you really need help and can justify it, go look for your CDC, or family service centers for some financial assistance.
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Depends on what you want. Many buy the wrong product.Originally posted by shinta:y unit trusts?
insurance.... cos it's always better to have some kind of coverage isn it?
Term insurance - If you want coverage of illness with lump sum benefit if any of the illness occurs, buy term insurance. Note that this does not pay medical bills in any way, just lump sum payment on diagnosis of illness, meaning if your medical bill is higher/lower than what they pay out, it is your business.
Life Insurance - And the most bought but the least useful is life insurance which gives you the illness coverage above and a modest projection of ~ 2% return. This creates a substantial long term cash commitment and is often over-rated in my opinion. It is good for those who do not know how to manage their $$ though since this can act a good tool for force saving.
HSP - If you want hospitalization protection, buy hospitalization insurance. This, I encourage all to buy, especially for self-employed and those who's company do not provide good insurance coverage. In fact, if you care about your parents, this is what you need to buy for them, not the other two above. You want to ensure that if they are hospitalized, the bills can be covered. Not the 30 illness stuff which does not help at all if they did not get any of those stated illnesses.
Unit Trust - A unit trust will depend on what you buy. It does take some effort to understand all the different funds and choosing the right fund though. But with some good effort, unit trust can give you a return of ~5-15% taken both the good years and bad years into account. And if you know compound interest, you know how powerful that can be. The downside is that you do need some financial intelligence and emotional stability to ride through the up and down cycles. If not, it can easily hurt more than gain.
By the way, I have all of the above. -
i was tinkin of term n hospitalization... maybe hospitalization first..Originally posted by Qitai:Depends on what you want. Many buy the wrong product.
Term insurance - If you want coverage of illness with lump sum benefit if any of the illness occurs, buy term insurance. Note that this does not pay medical bills in any way, just lump sum payment on diagnosis of illness, meaning if your medical bill is higher/lower than what they pay out, it is your business.
Life Insurance - And the most bought but the least useful is life insurance which gives you the illness coverage above and a modest projection of ~ 2% return. This creates a substantial long term cash commitment and is often over-rated in my opinion. It is good for those who do not know how to manage their $$ though since this can act a good tool for force saving.
HSP - If you want hospitalization protection, buy hospitalization insurance. This, I encourage all to buy, especially for self-employed and those who's company do not provide good insurance coverage. In fact, if you care about your parents, this is what you need to buy for them, not the other two above. You want to ensure that if they are hospitalized, the bills can be covered. Not the 30 illness stuff which does not help at all if they did not get any of those stated illnesses.
Unit Trust - A unit trust will depend on what you buy. It does take some effort to understand all the different funds and choosing the right fund though. But with some good effort, unit trust can give you a return of ~5-15% taken both the good years and bad years into account. And if you know compound interest, you know how powerful that can be. The downside is that you do need some financial intelligence and emotional stability to ride through the up and down cycles. If not, it can easily hurt more than gain.
By the way, I have all of the above.
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Glad to hear that.Originally posted by shinta:i was tinkin of term n hospitalization... maybe hospitalization first..
Check with your parents too to see if they got themselves covered on hospitalization. -
Issit true that you can only use either Medishield or hospitalization insurance to pay for per hospital bill ?Originally posted by Qitai:Glad to hear that.
Check with your parents too to see if they got themselves covered on hospitalization. -
she is.. i'm notOriginally posted by Qitai:Glad to hear that.
Check with your parents too to see if they got themselves covered on hospitalization. -
Not sure what your question is. But I guess you are asking if both can be used at the same time.Originally posted by choco B:Issit true that you can only use either Medishield or hospitalization insurance to pay for per hospital bill ?
If that is the question, then the answer is you can use both at the same time, but there may be some overlaps resulting in one being totally useless.
E.g. If both have deductible of $1,000 and the medical bill can be fully covered by one of the plans, then you have to pay that $1,000. The second insurance does not come into the picture until your bill exceeds what the first plan is able to cover. What you cannot do here is take the same bill and claim from both plans (and thus earning some $$ in the process).
For me, I buy a hospitalization plan that has no decuctible. It is significantly more expensive than those with deductible, but I can claim from first $1. So, my medicshield becomes my second layer of protection if my first layer of protection does not cover all the bills. -
i'm curious.. wat line are u in?Originally posted by Qitai:Not sure what your question is. But I guess you are asking if both can be used at the same time.
If that is the question, then the answer is you can use both at the same time, but there may be some overlaps resulting in one being totally useless.
E.g. If both have deductible of $1,000 and the medical bill can be fully covered by one of the plans, then you have to pay that $1,000. The second insurance does not come into the picture until your bill exceeds what the first plan is able to cover. What you cannot do here is take the same bill and claim from both plans (and thus earning some $$ in the process).
For me, I buy a hospitalization plan that has no decuctible. It is significantly more expensive than those with deductible, but I can claim from first $1. So, my medicshield becomes my second layer of protection if my first layer of protection does not cover all the bills. -
In a line that has absolutely nothing to do with insurance. Just one who had done some research waiting to realize my plan of being financially independent one day. I am the type who will sack the boss if I am not happy.Originally posted by shinta:i'm curious.. wat line are u in? -
Sorry for being vague, finance is sadly a murky area with me :p
Yeah you've got my question right. I was considering buying hospitalization insurance some time ago, but was told that medishield was enough, and that getting a hospitalization insurance would be excessive and not likely to be used.
Thanks for the explanation !Originally posted by Qitai:Not sure what your question is. But I guess you are asking if both can be used at the same time.
If that is the question, then the answer is you can use both at the same time, but there may be some overlaps resulting in one being totally useless.
E.g. If both have deductible of $1,000 and the medical bill can be fully covered by one of the plans, then you have to pay that $1,000. The second insurance does not come into the picture until your bill exceeds what the first plan is able to cover. What you cannot do here is take the same bill and claim from both plans (and thus earning some $$ in the process).
For me, I buy a hospitalization plan that has no decuctible. It is significantly more expensive than those with deductible, but I can claim from first $1. So, my medicshield becomes my second layer of protection if my first layer of protection does not cover all the bills.