'NUS graduate scavenges through rubbish to support family'. When I read this article, the first thing that came to my mind was - hey! he's a graduate and should have been earning quite well. How come he came to this state?
After thinking through, I realised that I could be in similar state. School didn't teach financial management. It was through reading that I gained knowledge on financial education, financial independence. School didn't teach me these.
There are some books I will recommend:
Awakening the Giant Within - by Anthony Robbins
Rich Dad Poor Dad - Robert Kiyosaki
The Richest Man in Babylon - George S Clason (one of the first book I read, on how to manage my finances, and get money to work for you, instead of you working for money)
Master Your Mind Design Your Destiny by Adam Khoo
Good luck!
Saturday, January 7, 2012
Wednesday, January 4, 2012
Knowledge and Education
I read 2 different articles on education trends on the same day. One was published in Singapore's Today newspaper. The other was in The Atlantic.
The Today reported that some enrichment centres now require 'entry tests' to enrol for their courses ('Sorry, your child is not bright enough'). It states that children as young as 6 need to pass a test to enrol into enrichment classes, which in the first place, was meant to help students get better results.
The other article, 'What Americans Keep Ignoring About Finland's School Success' explains how Finnish schools emphasise on equality when it comes to education.
It appears that we have lost sight the purpose of education in the first place. I thought that education is to enrich the human mind. To expand our brain. To enhance the quality of life. It now seems that Singapore's education model (and for many other countries as well), the main purpose of education has been to become economically productive. To such an extent, we force our children to study subjects that will lead to high paying careers in law, medicine. We should revert to the original purpose of education - i.e. to enrich the quality of life.
The Today reported that some enrichment centres now require 'entry tests' to enrol for their courses ('Sorry, your child is not bright enough'). It states that children as young as 6 need to pass a test to enrol into enrichment classes, which in the first place, was meant to help students get better results.
The other article, 'What Americans Keep Ignoring About Finland's School Success' explains how Finnish schools emphasise on equality when it comes to education.
It appears that we have lost sight the purpose of education in the first place. I thought that education is to enrich the human mind. To expand our brain. To enhance the quality of life. It now seems that Singapore's education model (and for many other countries as well), the main purpose of education has been to become economically productive. To such an extent, we force our children to study subjects that will lead to high paying careers in law, medicine. We should revert to the original purpose of education - i.e. to enrich the quality of life.
Monday, January 2, 2012
Economic downturn for 2012?
2 notable members of Singapore ruling party have warned us to take this year's expected slowdown in our stride, but still maintain that that Singapore will look at 1-3% growth.
What I expect from the government some pro-active measures to 'take in stride' the expected slowdown. I already seeing a number of companies laying off workers and relocating.
And the 1-3% growth may come from areas that don't employ bulk of Sporeans, e.g. construction and service industries. Why I say construction? We are looking at ramped up BTOs of HDB flats, and tunnels, roads and MRT lines.
What I expect from the government some pro-active measures to 'take in stride' the expected slowdown. I already seeing a number of companies laying off workers and relocating.
And the 1-3% growth may come from areas that don't employ bulk of Sporeans, e.g. construction and service industries. Why I say construction? We are looking at ramped up BTOs of HDB flats, and tunnels, roads and MRT lines.
Sunday, January 1, 2012
Goodbye 2011. Hello 2012
What do I remember about 2011?
The first thing that came to my mind was the SMRT breakdown. It was so significant that it wiped off memories of the whole year. So, of course, 2011 was more than just the SMRT. Let's recap some of the happenings in 2011:
- the Arab Spring. Downfall of Hosni Mubarak. Demise of Muammar Gaddafi. Egypt still in turmoil. Syria still in turmoil. Iraq still unsettled. Afghanistan - ??
- the last KTM Train pulled out of Tg Pagar.
- GE & PE. WP won 6 seats. Loss of GRC to opposition.
- when you have bad news, you forget the good. There were 2 Royal weddings. Britain & Bhutan.
- flooding became more common. From once in 50yrs, now we expect floods everytime there is a downpour.
- On family front - My nephew got a daughter. Now, she is critically ill.
- Niece passed her PSLE. On second try. Good for her.
Well - 2011 was not so bad after all.
What does 2012 bring? Hope and pray for the best. Life is not a bed of roses, but there is always light at the end of the tunnel!
Think positive, and put our trust in GOD.
I for one don't believe in new year resolutions.
The first thing that came to my mind was the SMRT breakdown. It was so significant that it wiped off memories of the whole year. So, of course, 2011 was more than just the SMRT. Let's recap some of the happenings in 2011:
- the Arab Spring. Downfall of Hosni Mubarak. Demise of Muammar Gaddafi. Egypt still in turmoil. Syria still in turmoil. Iraq still unsettled. Afghanistan - ??
- the last KTM Train pulled out of Tg Pagar.
- GE & PE. WP won 6 seats. Loss of GRC to opposition.
- when you have bad news, you forget the good. There were 2 Royal weddings. Britain & Bhutan.
- flooding became more common. From once in 50yrs, now we expect floods everytime there is a downpour.
- On family front - My nephew got a daughter. Now, she is critically ill.
- Niece passed her PSLE. On second try. Good for her.
Well - 2011 was not so bad after all.
What does 2012 bring? Hope and pray for the best. Life is not a bed of roses, but there is always light at the end of the tunnel!
Think positive, and put our trust in GOD.
I for one don't believe in new year resolutions.
Wednesday, December 28, 2011
Additional Buyer's Stamp Duty
Now, residential property investors (or speculators) need to pay additional buyer's stamp duty, ranging from 3% to 10% (for foreigners and corporations). REDAS chief (Wong) lamented that it will put downward pressure on property prices (I agree) and even the wider economy (question mark).
Inflation
Novermber's inflation rate was 5.7%. It looks bad for the government. It shows that government eefort to rein in inflation is not working. One of the factors affecting inflation is property prices. The govt has to rein in property prices to tame the inflation.
Investment
One comment is that it will drive away investors in the property sector. How does anyone benefit from foreign investors in residential properties? Yes, the developer's benefit. The construction companies benefit. There is business activities, but how does Singapore benefit? The government benefits by collecting stamp duty, and being able to sell land at higher prices. Once property price go up, the foreigners will sell off, making a tidy profit.
HDB
From a macro point of view, we should not forget that the govt has announced that they will ramp up the building of HDB flats. If they don't slow down the private property sector, prices of raw material and labour will escalate with competing demand. HDB prices have to be raised to break even, or make a decent profit.
So, actually, the move is timely.
Inflation
Novermber's inflation rate was 5.7%. It looks bad for the government. It shows that government eefort to rein in inflation is not working. One of the factors affecting inflation is property prices. The govt has to rein in property prices to tame the inflation.
Investment
One comment is that it will drive away investors in the property sector. How does anyone benefit from foreign investors in residential properties? Yes, the developer's benefit. The construction companies benefit. There is business activities, but how does Singapore benefit? The government benefits by collecting stamp duty, and being able to sell land at higher prices. Once property price go up, the foreigners will sell off, making a tidy profit.
HDB
From a macro point of view, we should not forget that the govt has announced that they will ramp up the building of HDB flats. If they don't slow down the private property sector, prices of raw material and labour will escalate with competing demand. HDB prices have to be raised to break even, or make a decent profit.
So, actually, the move is timely.
Tuesday, September 20, 2011
Monday, September 19, 2011
Where is Singapore Economy heading?
Stupid question, with obvious answer. Our finance minister said that the economy is slowing down. Possibly we will be faced with a recession. A double dip recession.
What was the solution? Let Singdollar depreciate. Those who follow the currency, will have noted that at the beginning of September, US$1 was trading for S$1.20. Today, it is US$1 to about US$1.26. By weakening the Singdollar, it is hoped that it will boost exports. But will it?
For exports to grow, there must be increased consumption. We can leave US & Europe out of the equation. Where else? Africa? Middle East? I don't know. I don't think keeping the S$ low will save jobs. On the other hand, weaker S$ will mean imports will become more expensive. This will lead to higher costs. We will be hit by double whammy. Recession; possibly loss of jobs. And higher prices for food and other essentials. Just be prepared.
Other side effects - with the weaker S$, our properties will begin to look attractive to foreigners. I expect a flood of foreign investors (Or rather, speculators) will pluck our properties. I hope China and Indonesia also get hit, then we will get a chance to get private properties at a bargain.
What can we do? I believe gold and silver will continue to climb higher in US$ terms, and S$ weakening against the US$, its double the profits.
Good luck.
What was the solution? Let Singdollar depreciate. Those who follow the currency, will have noted that at the beginning of September, US$1 was trading for S$1.20. Today, it is US$1 to about US$1.26. By weakening the Singdollar, it is hoped that it will boost exports. But will it?
For exports to grow, there must be increased consumption. We can leave US & Europe out of the equation. Where else? Africa? Middle East? I don't know. I don't think keeping the S$ low will save jobs. On the other hand, weaker S$ will mean imports will become more expensive. This will lead to higher costs. We will be hit by double whammy. Recession; possibly loss of jobs. And higher prices for food and other essentials. Just be prepared.
Other side effects - with the weaker S$, our properties will begin to look attractive to foreigners. I expect a flood of foreign investors (Or rather, speculators) will pluck our properties. I hope China and Indonesia also get hit, then we will get a chance to get private properties at a bargain.
What can we do? I believe gold and silver will continue to climb higher in US$ terms, and S$ weakening against the US$, its double the profits.
Good luck.
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