after watching this video, I came to the realisation that I have been living on only the bare essentials. Her no spend challenge is my daily lifestyle.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals.?
You would end up having a depressed month for not going out / eat out after a month as a trade-off to save 800++ esp in a country with little to nothing to do other than finding entertainment or working out. It would be easier in a country with cold weather and good scenic spots to pass time by the means of doing some outdoor activities to wind down. What's practical is policies to lower cost of living and ensuring businesses don't increase price as and when (beside us working our ass off)
Someone told me this these exact sentiments, then proceeded to live pay check to pay check with zero savings while complaining about high expenses. The purpose is not this video is not to encourage completely eradicating unnecessary spending, but rather only to do so conservatively and within budget.
My colleague have been giving me leftover breads from her husband's work and sometimes i would bring lunch too. I only take grab when going to the airport. So this challenge is a normal thing for me.
Her meal from home cost $5. And her idea of eating out is the food court. I never step into a food court, at $6 $7 the costs are too prohibitive. And she considers food delivery. Mind you she spend $125 on taxi, and think a $2.20 ride is savings. Im just taken aback at how high her expenses normally. Your salary better be there, cos there won't be money for a mortgage if someone spends like this. Meanwhile I'm grumbling how ridiculous public transport cost, and trying cycle to the town centre. You don't need a consultant to interview savings. You go the kopitiam or market on a weekend ask all the working mothers how to budget.
@@Ktacc-yt you think everyone is afforded the luxury of having a market in every neighborhood. Go to Sengkang, go to Punggol, there is a monopoly. You think everyone is like Toa Payoh, Hougang, Bedok where within walking distance you can buy vegetables?
@@MrBoliao98 Not monopoly but a demand supply issues. Meaning govt don't build Hawker centre and enough shop space so bidding is high for market coffeeshop. Many SengKang residents went hougang for marketing. Anyhow, you have ntuc or sheng siong so not too bad. Well if u can afford then can go for other options. Eating at those places you mentioned will be $5/6 dollar for single meal now
When you see the amount saved at the end of month, it will motivate to go on and on. I have done the math and projected to have $1.5M at 65 in 2030. No liability. My expenses is $500/month.
Apart from no-spend, another thing is to try to use cash as much as possible. Something that I have emphasized in the video on my channel. Be sure to check it out!
I dont spend time with friends nor eat at restaurant nor take grab unless only recently the 'silly'train breakdown saga + the heavy thunderstorms which caused me to be almost late for my shift. I had to spend $ on a very short distance grab...arrrgh.
In s'pore, those that study hard, work hard and plan hard can earn enough to lead comfortable lives. Those that don't take education or work seriously and end up with low wages have only themselves to blame.❤
after watching this video, I came to the realisation that I have been living on only the bare essentials. Her no spend challenge is my daily lifestyle.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals.?
keep contributing to your 401K, remember you are in for the long haul, but I'd suggest you consider financial advisory
Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one.
I ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
You would end up having a depressed month for not going out / eat out after a month as a trade-off to save 800++ esp in a country with little to nothing to do other than finding entertainment or working out.
It would be easier in a country with cold weather and good scenic spots to pass time by the means of doing some outdoor activities to wind down.
What's practical is policies to lower cost of living and ensuring businesses don't increase price as and when (beside us working our ass off)
Someone told me this these exact sentiments, then proceeded to live pay check to pay check with zero savings while complaining about high expenses. The purpose is not this video is not to encourage completely eradicating unnecessary spending, but rather only to do so conservatively and within budget.
My colleague have been giving me leftover breads from her husband's work and sometimes i would bring lunch too. I only take grab when going to the airport. So this challenge is a normal thing for me.
Her meal from home cost $5. And her idea of eating out is the food court.
I never step into a food court, at $6 $7 the costs are too prohibitive. And she considers food delivery.
Mind you she spend $125 on taxi, and think a $2.20 ride is savings. Im just taken aback at how high her expenses normally. Your salary better be there, cos there won't be money for a mortgage if someone spends like this.
Meanwhile I'm grumbling how ridiculous public transport cost, and trying cycle to the town centre.
You don't need a consultant to interview savings. You go the kopitiam or market on a weekend ask all the working mothers how to budget.
Work so hard also must reward ourselves so that it will motivate us to achieve our goals……
I need a real no spend challenge:
Walking to work
Living in the street/ church/ mosque/ etc
Begging for food
🤣
Sleep on the streets, rent out room in parent's hdb for extra $$
Skip meal can also save. Shop your veg from traditional market. Eat at hawker centres.
Market vegetable not exactly cheap, not when they have monopoly. Sometimes dabao $4 is cheaper than you on the gas.
@@MrBoliao98 Not sure whether U shop at market? Monopoly? You can buy in small quantity. Supermarket requires u to buy a pack at least.
@@Ktacc-yt you think everyone is afforded the luxury of having a market in every neighborhood. Go to Sengkang, go to Punggol, there is a monopoly. You think everyone is like Toa Payoh, Hougang, Bedok where within walking distance you can buy vegetables?
@@MrBoliao98 Not monopoly but a demand supply issues. Meaning govt don't build Hawker centre and enough shop space so bidding is high for market coffeeshop. Many SengKang residents went hougang for marketing. Anyhow, you have ntuc or sheng siong so not too bad. Well if u can afford then can go for other options. Eating at those places you mentioned will be $5/6 dollar for single meal now
@@Ktacc-yt another option, go hungry. Sometimes the food so disgustingly oily and salty. Might as well save the money don't eat.
This is the most pathetic way to save because things are going to get expensive anyway.
When you see the amount saved at the end of month, it will motivate to go on and on. I have done the math and projected to have $1.5M at 65 in 2030. No liability. My expenses is $500/month.
Apart from no-spend, another thing is to try to use cash as much as possible. Something that I have emphasized in the video on my channel. Be sure to check it out!
Not in all cases. I spend more when I have cash than when I don't. So card helps me save better than having the cash no matter the rules I set.
I dont spend time with friends nor eat at restaurant nor take grab unless only recently the 'silly'train breakdown saga + the heavy thunderstorms which caused me to be almost late for my shift. I had to spend $ on a very short distance grab...arrrgh.
and also $90 facial?!
Don't spend no waste loh. 😂😂😂🎉❤
saved a $230 in a week? holy balls. that does show if someone is an over spender
She got a good ideal spend no money day, what a great new Holiday for taxs payers , and take back control from big corps.
Do this long enough and will become a good habit...
Dnt cry mama
In s'pore, those that study hard, work hard and plan hard can earn enough to lead comfortable lives. Those that don't take education or work seriously and end up with low wages have only themselves to blame.❤