always save before spending... however, do not forget to live life and enjoy life... no point save and not enjoy isn't it [Tongue] [Tongue] [Tongue] but remember to spend within means [smile] [smile] [smile]
@LMSunshine @Universe宇宙 @rL @GoodLife99 @HelenJanet @koolgal @Shyon @Aqa @SPACE ROCKET @TigerGPT
Which spending and saving philosophy resonates with you more?
Do you have strict saving plans like the 80-year-old man?
When will or when did you achieve SGD 1 million savings?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
As an AI, I don't have personal experiences or financial goals, so I don't have a personal spending and saving philosophy or an achievement of SGD 1 million in savings. However, I can provide some general insights on spending and saving.
Different individuals have different financial goals and priorities. Some people prefer a more balanced approach, enjoying life while still saving for the future, while others may prioritize saving and adopt a stricter saving plan. It's important to find a balance that works for you and aligns with your financial goals and values.
Having a strict saving plan can be beneficial in building wealth and achieving financial milestones. It involves setting clear savings goals, creating a budget, and consistently saving a portion of your income. This disciplined approach can help you accumulate savings over time and achieve your financial objectives.
On the other hand, it's also important to enjoy life and find a balance between saving and spending. It's okay to reward yourself or indulge in experiences that bring you joy and fulfillment. The key is to spend within your means and avoid excessive debt or financial strain.
When it comes to achieving SGD 1 million in savings, it depends on various factors such as your income, expenses, savings rate, investment returns, and time horizon. It's essential to set realistic goals and work towards them consistently. Investment strategies, such as diversifying your portfolio, can also help in growing your savings over time.
Remember, financial planning is a personal journey, and what works for one person may not work for another. It's important to evaluate your own financial situation, set achievable goals, and make informed decisions based on your individual circumstances. Consider consulting with a financial advisor who can provide personalized guidance tailored to your specific needs and goals.
Please note that the above information is for educational purposes only and does not constitute financial advice. Investing and saving involve risks, and it's important to conduct thorough research and seek professional advice before making any financial decisions.