You know a close relative of mine, she came back from her overseas working stint 3 years ago. She bought a 4-room flat in the East side of Singapore, under the Singles scheme. It was a corner unit, and she paid close to $500k for it. This works out to be $1,700 in mortgage every month. I don’t know how much she makes, perhaps $7,000 a month.  Shortly after (maybe 1 year later), I heard that she was renovating her flat. I was surprised because though she had a job, it was only a contract job. I asked her: “So why did you go and take a renovation loan? You are living alone, surely you can make do?” Her reply was: “My job sucks. I don’t want to come home and live in a dump too!”

When my husband and I moved into #04-94, he was earning $1,499 and I was earning $1,299. He had just moved into the banking sector, but I had been working for close to 3 years in the same job. I consider ourselves to be holding stable permanent jobs. But I did not even think of renovating our very old #04-94. The thought of paying a contractor for renovation was simply unthinkable! 😱 So other than ripping out the kitchen cupboards, and painting the entire flat (all are DIY jobs), we did not renovate. At one point in time, and that was a few years later, I did go and buy some cheap plastic grids in the hope of stacking them (DIY again!) on the floor to raise the kitchen floor level. I’ll elaborate more on that later. But we continued to use the squat-style w.c. in the common toilet (which still had the old-style aluminium door), and the original seat-style w.c in the master toilet (with a one-piece door, instead of the PVC folding door that were all the rage then). Oh! How I wish I had photos to show you!!!!

I remember the guest room still had the original government-built louvre windows that had dark brown aluminium slabs at the bottom, and tinted glass at the top! Very outdated and authentic feel is how you would describe #04-94!  😆

So my relative renovated, we didn’t. Does the chicken 🐔 comes first or the egg 🥚 comes first? Do we save money first, then spend it on renovations? Or do we save money first, pay off the mortgage first, then renovate? Or do we forget about saving money and spend it all? There is no right or wrong answer. It is up to you. If you are clueless, then I have a recommendation:

(1) You go to any of our big banks, and you take a number to see the Financial Adviser (who are actually sales people selling the bank’s products). Tell them that you want to know more about investing, and ask them for their advice. Note: They will try to sell you something, so be resolute! You are not buying on the spot.

and

(2) You go to your Dad or your Mum or your sibling or your relative or your friend, and you ask them what they have done with their money. Did they spend it, or did they save it? And how do they think their financial strategy is working out so far?

and

(3) You go to a will planner and say you want to write a will. Some companies charge for this, and some companies don’t. Ask first! I had my will done up a few years ago. Our will planner wrote down our assets and liabilities for us to see. And the best of all, she also showed us what will happen to these numbers when there is a sudden death or illness. At the end of the day, most will planners will try to sell you something (whatever your shortfall is in, perhaps insurance?). Again, be resolute! You are not buying anything on the spot.

and

(4) You call a reputable insurance company, and you ask the insurance agent if he/she can come to meet you. I don’t know about you, but I will ask for an older insurance agent. I don’t like newbies who cannot answer my questions. Again, the agent is giving a sales pitch, so be firm whether or not to buy.

and

(5) Lastly, you ask a property agent to come and see you. They will give you their perspective on the property market. If you are lucky, you will meet one who is knowledgeable in the rules of the Housing & Development Board of Singapore (HDB) and the Central Provident Board (CPF). Of course, you are not going to buy a property on the spot.

Please be decent and at least pay for the coffee or meal for the advisor. They are kind enough to come and meet you. They are spending time on you. Most experienced agents or advisers will be willing to meet you at least once, and they are smart enough to sense if you are genuine or not. Please do not waste their time by asking them out again and again. One time is alright, because most of the time, it is their job ethics to give you proper advice first, before trying to sell you something.

Why do I tell you to be resolute and not to buy? Because most of the time, insurance and investment products require long-term premiums. Do not be ‘pressured’ into buying a product that you can ill-afford, and then you let it lapse because you couldn’t service it. Besides the likelihood of losing part or all of your initial investment money, who knows if our credit rating will be affected?

A better thing to do would be to keep the namecard of the advisor whom you think had provided you with very good advice. Once you can afford it, you can call him or her out again, and then you can give them business! Sounds great! ✌

With whatever information you have gathered from these sources, YOU decide what you want to do. Spend first? Buy first? Pay off first? It is your money, so it is your call! I wish I had the right mentality to speak to these experts when I was in my twenties. But as you know, I was so broke I could not see straight. Having to live hand to mouth, why do I want to waste time thinking about investments and growing my money?! But trust me, it will be time well-spent. Information is everything.

有一个亲戚刚从国外回来，她是单身的，在勿洛买了四房式政府组屋单位。贷款接近五十万，每个月的房子贷款是$1700. 她觉得如果游手好闲，慢慢找工作，会变得散漫，再加她的专长工作不是一般工作，所以有公司给她可以发挥她的专长的职位，她就接受了。虽然是为期一年的工作合约，她觉得比守株待兔好。过了不久，我听说她又跟银行借钱，准备装修。她说： “应为我工作很不如意，我每天在公司要受很多气，所以我想有一个美美的家可以好好休息。”

搬进#04-94时，我先生和我每月收入加起来只有$2798，虽然工钱少不过工作算稳定。虽然如此， 借钱装修屋子， 我连想都不敢想！ 😱 我们那间单位可说是独一无二‘老式’风味。我还记得外面的厕所是尊的，铝门是政府建屋时提供的第一代门！主人房厕所也是第一代，马桶‘还好’是坐式的，厕所门是一片的（当时已经流行折叠门，不过前屋主，那对马来夫妇没有换）。还有在我脑海深深留下影响的是位置公共走廊客房的玻璃窗，也是政府提供的第一代百叶窗。上面部分是有色玻璃，下面部分是深棕色铝款的！和我年龄相近的读者们，你们记得吧？ 上一代很流行我说的‘老式’风味设计！年轻一辈的读者们，阿姨我真的希望你们可以看那时#04-94的‘老式’风味，肯定让你们打开眼界！ 😅 前几天，我问我先生：“亲爱的，我们住#04-94的照片，你有保留一张吗？” 他到现在还在伤脑筋我们到底有没有那时候拍的照片！哈哈哈。

我亲戚买了新屋，过了不久就装修了。我们当时买了#04-94，住了五年却从来没有装修。除了把厨房的蟑螂橱柜贴掉，还有我们小两口每晚熬夜、 每个周末油漆，我们其他的都是用回第一代家居’装饰’.

读者们，还记得A君的故事吗？到底是：

（一） 母鸡🐔先下蛋🥚才会有小鸡🐣，还是

（二） 有蛋🥚才会有小鸡🐣才有母鸡🐔呢？

是先存钱再装修？还是贷款马上装修？还是先存钱把屋子贷款还清才装修？还是什么都不要做，住在旧屋就好？读者们，答案是：你自己决定！对呀！钱是你赚的，当然是你自己决定！如果你对钱财投资没有头绪，我可以把我所经历过的教你。你知道，当时我先生和我真的没有钱，赚什么花什么。我们买的是必需品，不是奢侈品！我们双方父母还坚持我们一定要给她们家用钱，尽我们的孝道。😒 存钱对我们来说是一种负担，根本做不到！😭 应为太穷，而且看不到出路，所以从来没有想过钱要怎么用。我真的后悔当时没有人‘点醒’我， 教我！ 所以你听我的劝告，我教你：

（一） 你走进我国任何有信誉的银行，那里有财务顾问员。你只要问他们如何投资钱财，他们一定会教你。为什么呢？应为他们是卖银行理财产品的！有很多种理财产品，有些产品刚刚推出，有些已经在市场很多年了， 你要注意听每一种产品的风险和回报利益。财务顾问员不可以勉强你买，所以你不用当场买任何产品。没有买是OK的！

还有

（二） 你可以找你的父母，兄弟姐妹，亲戚，朋友或同事，问他们是怎么理财的。听听他们的经验，看看他们的观点和经验。

还有

（三）你知道我们普普通人也可以（必须）写遗嘱吗？我先生和我几年前写了我们的遗嘱。我记得那时我只交了五百元律师费用。你们找到了你们相信的写遗嘱律师行后，可要问清楚费用哦！我为什么觉得这写遗嘱律师行行得通？我去的那家写遗嘱律师行，他的‘法律助理’清清楚楚把我们的资产和负债算出来，更好的是她可以把这些数字应用于不同的场景（例如退休、生病、不幸生亡情况下）。一目了然。到后来，我发现其实这‘法律助理’也是卖理财产品的。不过， 我还是认为她做的很好，应为数字摆在我眼前，数字不会骗我的。😅 除此自外，这‘法律助理’很有经验，她教了我们如何‘分配’我们的财产，以免我们的‘后世子孙’到时‘手忙脚乱’。

还有

（四）不要忘了还有那些卖保险的，他们也可以提供很好的理财观点。我那时有疑问的时候，并不认识什么保险顾问，所以打电话给保险总公司叫他们介绍。我清楚的叫他们派一个‘年纪比较老’的保险员给我。我本身觉得（我体验过，很多次！）年轻的顾问（无论是卖车、卖保险、买房子等）虽然充满热诚，不过他们只有兴趣卖产品，只专心销售，他们根本没兴趣也不会（不能）回答我的询问或问题。

还有

（五）买卖房地产的。我不是说那些只带你看这间屋子，那间屋子的顾问！如果你幸运，你会碰到对建屋发展局和中央公积金局条规很清楚的地产经济人。哇！应为买卖房子通常涉及很多钱，如果你碰到知识丰富的专家，你可要好好珍惜他喔！

读者们，你们第一次跟以上所有顾问见面时，是为了了解多关于理财的知识。这些顾问、专家本来就有义务把所有的风险和回报利益解释给你听。是他们的工作！那些很有经验的，一看到你就知道你是认真的买家，或只是问‘玩玩’的。真的啦！😋 不过怎么说，顾问专家们抽时间出来帮你，你可要好心领情买吃的、 喝的给他们。别让他们白跑一趟。如果碰到那些很投缘的，你要收好他们的名片，你一想通，你可以再找他们出来。毕竟他们本来就是靠人际关系销售产品的。

如果你不打算现在买，就别再叫他们出来。每个人的时间是宝贵的。还有，如果你没有打算‘养’保险或投资产品，别被‘强迫’跟他们买。原因是应为有些产品是有手续费用的。你如果提前终止，可能要交‘违约金’或‘终止手续费用’。你又何必呢？何况我们不知道经常这么做，会不会影响我们的信用评级？所以谨慎一点比较好。👌