Singapore-based financial blog that aims to educate people on personal finance, investments, retirement and their Central Provident Fund (CPF) matters.

Monday, 24 September 2018

4 Telegram ChatBots that Helps You Save Money

Apps are no longer the next big thing. They take up space in our phones, requires us to download and continuously update them.
Instead, chatbots seem to be the next big thing.
Just a few years ago, the mantra was "there's an app for that".
Today, the mantra is "there's a chatbot for that".
Below, we share with you 4 chatbots on Telegram that can help you save and manage your money better.
The list is not comprehensive, with new chatbots being created every day!
As such, if you have any great chatbots that you use to manage your finances, feel free to comment and tell us about it!
We will add it to our list

1) Foodie Monkey Bot
This is the chatbot that sends you a list of food and drinks promo happening all around Singapore daily. Save on food and drinks sounds like a pretty good deal to me.

2) GetMedia Bot
This is the chatbot that lets you download songs and videos from youtube to your phone, saving you tons of data when you are commuting or at places without wifi - and hence saves you money.

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3) WhereIsMyMoneyBot
This is the chatbot that lets you track your expenses easily. Type the expenses you incurred and the amount and it will record. You also get a summary of your total expenses for the month and you can export the information in Excel out.

4) WhoPayBot
This chatbot helps you split your bill among your friends easier. Allows you to split the bill without complex mathematics and helps you track who has paid. No more having friends forget about transferring the meal money now that there is a reminder set for them.

Got any more chatbots that can help us manage our finances better?
Feel free to comment them to us and we will add them to the list

Recommended Post: 3 Reasons Stocks are Better than 99 Year HDBs

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Friday, 14 September 2018

3 Reasons Stocks are Better than 99 Year HDB

Recently, we suddenly start realising that upon reaching the end of our HDB 99-year lease, we are all going to lose our homes - the HDB goes back to the government and we are not going to be getting any money back.
Suddenly, HDB feels like a rented apartment instead of our home, except instead of paying rent every month until the lease expires, I pay for it for 30 years only - and if I'm lucky, I get to sell it for a higher price than I paid.

The biggest and most important asset for most people is their house.
Have you ever wondered why most people remain either middle income or poor?
The correlation is not a coincidence.
It is exactly because of this reason - the bulk of their money are stuck in their homes.
The rich park much of their money in stocks and there are reasons why stocks are better than homes when it comes to growing your wealth.

1) Government Intervenes in the Property Markets
Our Government announced a new property cooling measure in July 2018 to cool the prices of properties in Singapore. This is because they find that the property market seems to be heating up - prices are getting higher than they should. The cooling measure is meant to reduce the rate of increase. This is actually a kind of "limit" on the gains you can have from your property investment! 

This is done so that we can all buy a house to live in Singapore. It is in the Government's best interest to ensure everyone can afford a home because it keeps them in power. If I am a buyer, I am not complaining that my Government is making housing affordable by removing rich people from bidding my house prices up. But if I am a property owner, it sucks to know that the value of my property is being "cooled" by my Government.

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2) HDB is an Appreciating Asset that You Own for 99 Years Only
As your HDB reaches the end of its 99-year lease, it goes back to the Government while you get nothing back.
The asset that you had hope to keep and leave it for your children suddenly no longer exist.
While it is yours to keep and sell within that 99 years, you lose it after 99 years.
It is not a permanent asset for you or your future generations to keep.
While it ensures that every generation gets a chance to buy a home in land-scarce Singapore, it also prevents you from passing your asset to your children and grandchildren, even though you worked hard and paid for it!

3) Government Don't Limit Stock Market Gains
When property prices reach a new high, Governments all around the world tend to step in to make sure prices fall back to normal. Imagine if property prices increased 15% year-on-year for 5 years straight - prices would have doubled, and you would be happy if you are a property owner, but you will never be able to afford a home if you are saving to buy one.

But for the stock market, Governments will not intervene if the market rose 20% year-on-year for 5 years straight. The Government will not intervene in the stock market even if it is a bubble because it is not the job of the Government to ensure the stock market does not overheat. Therefore, you stand to make higher gains in the stock market than from the property market.

Should you start considering to invest less in your HDB and more into stocks?
Since technically stocks are forever and you can pass it down easily.
Rich own stocks while middle-income own HDB.
99-year asset or forever asset?

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Remember to offer your opinions. 
If you don't put your two cents in, how can you expect to get change?

Have feedback? Tell us now! 
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