Should parents hold on to a child’s savings?

I was talking to my classmate recently about saving and investing. She knew that i actually do invest a portion of my money and she was really curious on what made me started on investing.

Read more: About me and why I started investing




After telling about it, she told me that she was pretty interested in it as well even though she has zero knowledge. I told her that she can start by reading up online first and also to find out more. She then told me that actually, she has no money on hand that she can invest in because her bank account is a joint account with her Dad.

She doesn't have access to that account as her Dad holds the ATM card. Her parents instead, gives her allowances. So I asked her what about her part-time jobs because I was aware that she works during holidays.




She told me that the part-time job pay directly to the bank account and she cannot access them. This was particularly troublesome for her because recently, she wanted to get a ticket for a concert but was short of money and when she asked her parents they told her not to waste the money on the concert.

She told me that her parents have the bank account kept from her as they want to help her save and not let her spend it all. She understood why her parents do not provide her with access to her bank account but when she wanted to get stuff, she had to always them for it and she didn't like doing that.

I think it really is a case of the parents not really trusting her to have the capabilities to control her spending. Maybe if she were to explain to her parents that she would manage her money well, they would maybe allow her some access to it.

I have a Facebook page for easy access. Do give it a like if you like my stuff:) Facebook: SingaporeanTalksMoney

Climate change and how Singapore is affected?

Every year, I always hear from the news that a new high temperature has been reached for this year and that the average temperature has increased by 1 degree. Every year, we experience hotter temperature and so....what and when's the limit? I read an article recently about how vulnerable Singapore is to climate change and found it very informative.

http://astroinstitute.org/singapore-world-map.html/singapore-on-world-map-scrapsofme-me-new

One of the most crucial and main way Singapore will be affected by the rise of temperatures would be 

• The rising sea levels!

Our geographical location and size makes us surrounded by seawater and even though we can reclaim land, it is an expensive and time-consuming task. 

Global warming is not affecting a small proportion of people in the world, it affects all of us and to be honest, Singapore is not an environmental friendly countries as compared to others.

• Recycling efforts in Singapore

When I went to Taiwan to visit my friend who was having an exchange there. I was surprised by how they had to purchase plastic bags for their rubbish and every night, a rubbish truck would come and collect from them so they would need to bring their rubbish down. Of course, their rubbish would be segregated into food waste, plastic waste and other categories.

Singapore on the other hand, we do have a blue recycling bin that is put below every block and recyclables can be placed inside where a designated recycling would come pick them up.




However, there are many people who would throw their food waste into that and this makes the recyclables 'contaminated' and they are unable to be recycled.

I find that individually, we still have a long way to go in our recycling efforts and it definitely would not be an easy journey. But for the sake of the future generation, we do need to start something that can reduce the effect of global warming.