Spending future money

cAr|n SG

do u guys have this habit of spending money due to you but has not come in yet? i.e will u spend and justify to yourself that your next pay will be coming and you can actually afford it?

it's a bad habit and i generally don't do that... if i lend someone money i don't think of that money as mine anymore... i'll prepare myself for the worst scenario and immediately write it off

but ever since i found a job i find my spending habits changing and my affordability threshold increasing, even though i won't start work for another 6 months.... this is bad!! argh.... the temptation of money.... Confused

browniebaobao SG

banks are gg to introduce a new credit card for young ple earning less than 30k per annum..

but credit limit is $500 per month.

xShevchenkox SG

ya lo….l always spend my future $ de..so when my pay day comes…l am not really satisfied..cuz the $ is not mine anymore..hav to use them to clear my debts and loans from my mum, father, and frenz _“

Joshua1975 SG

try changing the word spend to work.... ie to say you make your future money work for you, to generate more money.

dun ask me, i wun tell, go think how to generate more money.

not everyone work for $$$.... the top 5% let $$$ work for them and the top 10% work for $$$ and at the same time let the $$$ work harder for them in order to get to top 5.

cAr|n SG

but then the idea of credit card is about spending money that u do not have mah... what u spend is on credit... of course whether u pay off your bill when it comes is another issue

FireIce SG

it's never wrong to save for a rainy day
good to have spare cash in case one day u relli need it.....

have 2 accounts....
one purely for putting money in.....can be fixed amt or variable amt.....depends on ur income and how much do u wanna save.........
rule is....cannot withdraw.....dun even make ATM card for this acct.....purely to save and oni use in very very emergency situations.....
the other one for normal use loh......to press from ATM, to pay bills, etc......watever is left can snowball to next mth......or if u want, can transfer to the savings acct.....

get credit card oni when u know u have the power to repay....
and be disciplined.....put a cap to how much u can sign a mth....so tt u are can comfortably pay everything and avoid getting into debts......

cAr|n SG

yep, i understand this concept Smile

i try to save up so that i will have capital to use for investment, i'm not comfortable with using future money for investment, although i do try to plan financially for the future

i'm not working now, and i have an investment which consists of a large part of my own savings (the absolute amt is small, but it's a large percentage in comparison). i used to be very concerned about this investment, but ever since i got the job (which i won't even start for another 6 mths) i find myself getting more relaxed about the investment. this is due to the expectation that i know money will be coming in in future and this makes my risk appetite bigger

not sure if this is a good sign, because after all, this attitude is based on an expectation of future earnings and not what i actually have right now

banzie SG

sound robert kiyosaki....

binZ SG

Cool Wink

Joshua1975 SG

investment, sound ez... do your homework man.

it a full time job. if you think of working, pls stop you investment now. b4 things turn bad.

Joshua1975 SG

think it is... maybe, who make a pile during the oil rise like no tomorrow???

i did....

Mr. Green

crofty SG

The problem do not occur to me Mr. Green

digicharat SG

it is a bad habit.
wait till one day you kanna fired.
but singaporeans too hao lian already.
wants to look good. so spent money beyond their abilities. and end up in debts and go bankrupt.

missqi SG

be like me lah....
i only use cash to pay for all my clothes etc etc....
all the big money in bank no touch.
Very Happy v

Ito_^ SG

hardly, i hate owning money to others. or the chance of getting into debts.

Bontakun SG

You have become slave to money.................. Twisted Evil

We USE the money for proper benefits, NOT let money dictate our every desires.

banzie SG

I tot you ask all your rich bf to go out with you when shopping....

BufPuf SG

i can never save $$......at least $300 of my pay go to cab fare to and fro from work liao....

so i have to take out some of my pay and transfer it to my joint acc with my mum..at least i know i won't touch the $$

Remaining i will set aside some as 'saving' - those that i only touch near to end of the month...

so far still okie. Never till the extent i have no $$ on myself

Anti-RuleSS SG

I do not have any problem for over spending as i really can save money well and plan for future use.