Sunday, 11 November 2018

Smaller Social Circle of Friends As you Grow Older?

My brother flew overseas for his studies and my mum went along as well. So, I was alone at home for about 2 weeks recently. It's not my first time being all alone at home but definitely, one of the few times.

Of course, the first few days were great, watching all the dramas online and eating whatever I wanted. But slowly, I found myself getting a little too lazy and also, frequently skipping meals as I was lazy to prepare or to go down to get food.

I went out for dinners about 2 times with my polytechnic friends and another secondary school friend.

So throughout the 2 weeks, I also went to my grandma's place for dinner but it made me realized just how lonely I would be without my mum and brother around. My friends, we do go out and have meals but they are busy as well with work or studies.

It was kinda different, the feeling you get when you are home alone and you realised that you wanna go out for a movie or have a meal but not being able to call someone cos they might be busy or something. I mean I do meet my uni friends everyday but outside of school, we don't really make an extra to meet up as we all stay pretty spread out in Singapore.

But of course, there are good points of having a smaller social circle of friends, first being that you cherish the time spent together with your existing friends so much more.

Second being that you can save so much more money. HAHA.

Maybe this is a process of growing up or maybe I just don't have much friends to begin with. But I have to say that I will need to make more effort to know more people and increase my social circle.

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Thursday, 8 November 2018

Financial tips for Millennials - Getting to your first $100 000

I came across this article on Straits Times which wrote about millennial's financial status and how we can go about managing our finances. It starts off mentioning that millennial, aged 22-37 years old have actually started saving early as compared to the baby bloomers (1946 and 1964) and Gen X (born after the baby boomers but before the 1980s).

They gave 9 main tips to how millennials can go about about managing their finances.

1. Start early

2. Cultivate proper money management habits

3. Set financial goals

4. Set aside emergency funds

5. Avoid bad debts

6. Think health insurance

7. Consider compounding

8. Invest

9. Plan multiple income flows 

You can read more: 9 financial planning tips for millennials

Even though the article is kinda like an advertisement for Manulife, I believe that the tips mentioned there can help not just millennials but people who want to get started in managing their finances.

I was particularly intrigued by this image of how you can work your way towards $100 000.

It provides a guide and allows you to know how much you will need and the kind of investment plan you can use according to the rate of return to achieve your $100 000.

I have written before that I would like to achieve getting $100 000 before the age of 30 so this particularly attracted me.

Read more: My Financial Goals - Is $100 000 in 7 years possible?

The article also mentions that millennials are least thinking about retirement and I mean I do agree, when you are only in your 20s and 30s, retirement is definitely not something you think about. I mean life is so unexpected so that's why retirement is not so much in our plan.

Retirement could perhaps be our grand goal and what we are doing right now is taking small steps towards that grand goal of RETIREMENT!

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