Wholistic Financial Planning
  • Home
  • Testimonials
  • Blog
  • Property Purchase Planning
  • Financial Ratios Analysis
  • Contact

Coping with the raising cost of living

15/2/2017

0 Comments

 
Do you feel that Singapore is becoming more and more expensive to live in?

In fact, on an article that appeared on 'Dollars & Sense' recently, it was predicted that by 2050, one plate of chicken rice will cost about $9.16, which amounts to be approximately 2.6 times the cost today.
While ​2050 may be more than 30 years away, the reality of the raising costs of living in Singapore has already set in.

Look no further than the recent Singapore's Budget, which Finance Minister Mr. Heng Swee Keat announced that water prices is set to go up by 30% by July 2018. Is there even a possibility that income increment will be 30% to counter this raise? The answer is pretty obvious don't you think?

It will therefore be wise to start looking into ways to make money work smarter by investing for potentially higher returns, and at the same time explore the possibility of cost reduction.

Some of the considerations that can help are:
- Potential savings through refinancing or repricing housing loan;
- Possibility of reducing insurance premiums while maintaining or better current existing coverage;
- Possibility of investing funds that were set aside for medium to long term objectives, rather than placing them in a savings account.
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Jason Ow S. H.

    Senior Financial Consultant

    Archives

    September 2022
    May 2019
    December 2018
    November 2018
    July 2018
    June 2018
    May 2018
    July 2017
    April 2017
    March 2017
    February 2017
    December 2015
    October 2015

    Categories

    All
    CPF Related
    Insurance Related
    Investment Related
    Property Related
    Retirement Related

    RSS Feed

Powered by Create your own unique website with customizable templates.
  • Home
  • Testimonials
  • Blog
  • Property Purchase Planning
  • Financial Ratios Analysis
  • Contact