Your Asian mom

A very good book to teach parents on kickstarting financial knowledge and practice for their kids.  According to the author, it is never too early when to expose children on health money spending or saving money as they are already learning when they see adults use their money whether it is buying things, saving in the bank among others  My parents (I believe many do too) think that I am obliged to give them a lot of money (as seen on TV). They have the preconception that their children can afford to allocate half of salary for them to live comfortably after their retirement.  Unfortunately, the ugly truth is not everyone is earning extraordinary income in today's world with higher cost of living. In fact, even to put a roof under the head is a troublesome for many young generations.  Some more, there is a term for us...Sandwiches generation which we also have to think of supporting our own child.  Let me be clear here that it does not mean that I am not giving ...

As people are losing their jobs amid Covid-19 pandemic, many have sought for income alternatives by selling variety of items that they can make a living from.  photo courtesy: Westfield Financial Planning For time being, I am lucky to still have my job despite the industry is not really doing very well. With the Movement Control Order, which required almost everyone to stay home and commitment in terms of childcare fare, fuel and eating out expenses cut down, I really can afford to spend some money to support friends who need to make living out of selling homemade cooking and etc. However, I am not so keen to be approached/forced to invest my money into unit trust via an agent/consultant.  During the product introduction briefing, I was told that unit trust could earn a return of between 5-10 per cent. But, when I check on the previous reports, it may not seem to be true for all time. The units could drop to below 10 per cent, which means that unit trust holders would likely t...