The fundamental basis of marriage is trust. And when one or both parties breached that trust, it harms the relationship. As family law attorney, Steven Mindel once said: “Financial infidelity is the root cause of many crumbling unions.” Prevent this crumbling from happening by knowing the 5 Major Money Lies That Can Tear Your Relationship Apart: 1. “IT IS JUST S$60!” One of the most common financial lies that people are guilty about is lying about one’s spending. Instead of
1. BUILDING AN EMERGENCY FUND NOW What happens next if your ridiculously expensive car needs an engine replacement? If you are like countless people in the world, you will opt for using your credit card or taking loans. This will only build piles of debt. Instead, you must commit to building an emergency fund to use during the “rainy days”. Financial professionals recommend to save money that can cover at least 6 months’ worth of your living expenses. 2. SAVING
Singapore is not cheap, which makes you wonder, how do we thrive? To help us understand better, let’s talk about our cost of living. Housing In general, the property prices in Singapore are going down, thanks to the efforts of the government, including reducing the loan-to-value ratio and capping home loans up to 35 years. Moreover, you have several property options, although more than 75% of us live in HDB flats, of which the cheapest can be a 2-room home
Ellie Kay once said: “Getting out of debt is like going on a diet — it may sound simple, but it sure isn’t easy.” Debt takes a toll on your relationships, your family, and your future. Just as being obese leads to physical and emotional challenges, debt has its own negative consequences too. Inspired by Oprah Winfrey’s Debt Diet, three financial experts namely: David Bach, Jean Chatzky, and Glinda Bridgforth were sent to help several families to solve their monetary
DEFINITION Before anything else, we must define two terms: debt and credit. Debt is the amount borrowed by one party (e.g., corporations or individuals) from another (e.g., banks). While Credit is the lawful agreement in which a borrower receives something of value today and agrees to repay later on in the future, usually with interest. Simply, when you use your credit card, you create debt. Debt here is the result from your ability to borrow – from your credit. Now that
