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money is not enough to use!!!

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TrinnyTrin View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TrinnyTrin Quote  Post ReplyReply Direct Link To This Post Posted: 02 Apr 2018 at 11:05pm
Originally posted by omona omona wrote:

Originally posted by zac1234 zac1234 wrote:

fd got lock-in peroid, i dun like...how about Alliance Saveplus acc?


Alliance Saveplus acc dun got lock-in peroid, but you need to put big amount of money then can get higher interest rate..

Well if you dont have that much money on hand you can just put in at least 20k then can get 1.8% of interest already, well surely you can get more with FD but the problem is you cant take out the money for at least a year, think about when you suddenly need to use it...
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TrinnyTrin View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TrinnyTrin Quote  Post ReplyReply Direct Link To This Post Posted: 02 Apr 2018 at 11:09pm
Originally posted by DorrisNg DorrisNg wrote:

Investment is not encouraging because it's quite risky for us except you are financial expert.  I think the most effective way to save money is try to use washable diapers and secondhand clothes.  Because baby grow up fast, you dont need to buy too much clothes to ur baby.  Milk powder cannot be save because this is compulsory but did you feed ur baby breast milk?  It can save a lot and good for baby.

Well putting your money in bank is one way of investment also, one that has 0 risk. Whenever I have some leftover from my monthly salary I would just put inside my Alliance bank acc, after awhile the money did increase by quite a bit even without me doing anything about it, so I would say putting your money in bank is good if you don't have any knowledge about investing in stock market.
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Kelvin77 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Kelvin77 Quote  Post ReplyReply Direct Link To This Post Posted: 03 Apr 2018 at 9:27pm
Did ur wife working?  I think 2 ppl's salary can cover the expenses...If not u also can try investment but you must do some research before u invest or u can go to bank to seek advice from the financial consultant.
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Ahmanran View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ahmanran Quote  Post ReplyReply Direct Link To This Post Posted: 03 Apr 2018 at 10:23pm
I agree that Investment is not encouraging as in your situation, you shall not risk your money. What if you lose all the money? There will be a big financial problem then. Plus your salary is not high , secure your finance future first.
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Ahmanran View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ahmanran Quote  Post ReplyReply Direct Link To This Post Posted: 03 Apr 2018 at 10:28pm
Perhaps you can ask for baby things from your siblings/cousins??? Mayb they will have some extra/used baby things but still in good condition. My aunt always give out some new baby things to others. You can save some money here :)
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malani View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote malani Quote  Post ReplyReply Direct Link To This Post Posted: 03 Apr 2018 at 10:31pm
Same with my thought too. An online business or extra part-time job will surely earn you some income. Try find out some job during your free time. Make use of the social media ,there are lots of part time job for you to choose. 
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malani View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote malani Quote  Post ReplyReply Direct Link To This Post Posted: 03 Apr 2018 at 10:36pm
You can try lookup for jobs at jobstreet. My friends recommend it to me ^^. I found out that there are plenty of jobs to be choosen according to your area and skills. Good luck to you!
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razileman View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote razileman Quote  Post ReplyReply Direct Link To This Post Posted: 04 Apr 2018 at 9:49am
Why don't you start with a simple financial plan? List down your compulsory budgeting first e.g your household, bill, rent, loans, etc. Minimize your spending and keep the remaining for saving. Suggesting you to create one other bank account just for saving and do not take that money from that account unless you have to. 
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yangxi View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote yangxi Quote  Post ReplyReply Direct Link To This Post Posted: 04 Apr 2018 at 11:16am
Originally posted by zac1234 zac1234 wrote:

fd got lock-in peroid, i dun like...how about Alliance Saveplus acc?

i did a research ald, Alliance give the highest interest rate to us compare to otehr banks... so if you want to save money in banks to get interest i suggest you to put at Alliance acc
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yangxi View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote yangxi Quote  Post ReplyReply Direct Link To This Post Posted: 04 Apr 2018 at 11:19am
Originally posted by DorrisNg DorrisNg wrote:

Investment is not encouraging because it's quite risky for us except you are financial expert.  I think the most effective way to save money is try to use washable diapers and secondhand clothes.  Because baby grow up fast, you dont need to buy too much clothes to ur baby.  Milk powder cannot be save because this is compulsory but did you feed ur baby breast milk?  It can save a lot and good for baby.

yalo, only earn about 2k a month, if invest loss some money, it'll cause financial problem ald...
the best way for his situation is to save money at bank and get interest..
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