Ways of increasing cash level for next market crash

[GCONG]

I am saving cash for next market crash. Hope to share experience in this aspect wih commoners and used-to-be commoners.

1. Reduce expense
a. "BMW" mode of transport
b. healthy lifestyle to avoid medical expense
c. work safe to avoid accident cost
3. sell off assets, like
a. stocks
b. turn stamps/coin collections into cash? Anyone knows how to sell?
4. extra income source stream:
a. part-time work.

[woonty]

I am saving cash for next market crash. Hope to share experience in this aspect wih commoners and used-to-be commoners.

1. Reduce expense
a. "BMW" mode of transport
b. healthy lifestyle to avoid medical expense
c. work safe to avoid accident cost
3. sell off assets, like
a. stocks
b. turn stamps/coin collections into cash? Anyone knows how to sell?
4. extra income source stream:
a. part-time work.

Yes, BMW T-series is cheapper than paying $,1200+ every month or $144,000 for the next 10 years but then for some it's their lifestyle choices (someone has to spend in order for some to make) & as long as it's within their means.

But I may still consider switching to car once my transport expenditure exceed that amount or I need the car to make a living or for some reason, haha

B= Bus
M = MRT
W = Walk
T = Taxi

[shazamnick]

I am saving cash for next market crash. Hope to share experience in this aspect wih commoners and used-to-be commoners.

1. Reduce expense
a. "BMW" mode of transport
b. healthy lifestyle to avoid medical expense
c. work safe to avoid accident cost
3. sell off assets, like
a. stocks
b. turn stamps/coin collections into cash? Anyone knows how to sell?
4. extra income source stream:
a. part-time work.

Yes, BMW T-series is cheapper than paying $,1200+ every month or $144,000 for the next 10 years but then for some it's their lifestyle choices (someone has to spend in order for some to make) & as long as it's within their means.

But I may still consider switching to car once my transport expenditure exceed that amount or I need the car to make a living or for some reason, haha

B= Bus
M = MRT
W = Walk
T = Taxi

Hi,

I would like to share my opinion on car ownership. It is true owning car is expensive and a unnecessary luxury that also add on to your stress when driving on busy roads or finding limited carpark. Moreover, in this pay-and-pay society, car ownership is highly undesirable. However, putting monetary benefit aside, there is a untangible benefit on car ownership. There are closer bonding relationship and better communication among the family members.in the following manner :

- Young kids (even lip-tight teenagers) tend to share and become chaty to talk about school, friends and their thoughts to their parent in the confine space of a car.
- Young kids can sing to show off their 'singing' talent when they hear songs from the radio.
- More opportunity for mum to hug and 'sayang' their kids at the backseat when dad is driving.
- Dad can crack jokes to his kids while driving under the confine space.
- Foster closer relationship by driving aged parent to places of interest and chat to them inside the car.

Hence, you see. driving own car do help to foster better communication and bonding between the young, old and us. Although it is a bit expensive, I think there is some value and people like me hardly have time to spend with our loved ones. Driving offers me a chance to build closer relationship with family members. After all, why do we work so hard for?

PS: the above information is gathered from my peer, colleagues and friends and I only drive a toyota vios(6yr old already).

[sereneloong]

I have to say I LOVE my car and it gives me and my hubby much joy.

I think the key question is whether you can or can't afford it. We all know our mortgage payment should not exceed 35% of our income. What is the rule of thumb with regards to the car? Hope this will help those to make better decisions.

Cheers!

[Dennis Ng]

I have to say I LOVE my car and it gives me and my hubby much joy.

I think the key question is whether you can or can't afford it. We all know our mortgage payment should not exceed 35% of our income. What is the rule of thumb with regards to the car? Hope this will help those to make better decisions.

Cheers!

In my opinion, to be prudent, Total debt repayments, including car loan instalment and Housing Loan instalments, should not exceed 35% of one's income.