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New money habits led to saving $100K in 18 months - Part Two.

Wednesday, January 20, 2016


Updated (27 Dec 16):

I am such a kaypoh (i.e. busy body), I know. I told myself many times before that I should change. I should not talk to myself but it is very difficult for me not to.

Although I left the profession donkey years ago, I guess I am still a teacher at heart.

Source: Wife becomes tai tai...
If every day should see one person becoming financially more secure from reading my blog, I would be very happy.
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This is a continuation of an earlier conversation which generated quite a lot of discussion on my FB wall:


Hi AK,

Thank you for your reply!

Saw your recent post where you share my email and wow - it drew quite a few strong comments from your facebook readers. Haha.


 Anyway, im not sure why there are such strong comments about the S$100K but no one commented on the $50K loan. All I wanted to say was it is really possible for a couple to save $100K if we put aside 4K monthly and save up all the bonuses within that 18 months. =)





 Others may not believe it but its really not our incentive to convince them. As long as we continue to do the right things to help ourselves and achieve the results that we wanted, why bother about what others say. Right? =)


 My hubby and I had some discussion and decided that we will keep the funds as our emergency funds instead of paying down our loans. 


The purpose of the emergency funds are meant to cover our monthly routine expenses in order to maintain our current lifestyle.



Sleep tight. Sweet dreams.
 In the event if we are retrenched suddenly, with just a $50K cash on hand, this will shorten the period which will allow us to go on a "no pay leave" scheme and we are not quite comfortable with it. Given the current economic climate, perhaps its better to hold cash.

 Meanwhile, its time to build up our war chest. Hopefully the market will not crash so soon so as to allow us to build on our war chest.





Taking very sensible steps. I am glad.

Gambatte!


Related post:
New money habits led to saving $100K in 18 months (Part One).

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