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jesleong
Joined: 31 Dec 1969
Posts: 445
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 Posted: Sun Apr 12, 2009 9:10 pm Post subject: |
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| tyty wrote: |
| jesleong wrote: |
| tyty wrote: |
| jesleong wrote: |
| tyty wrote: |
| jesleong wrote: |
| tyty wrote: |
| jesleong wrote: |
| tyty wrote: |
| jesleong wrote: |
| tyty wrote: |
Actually the EPF also managed to help those really need money to purchase their first ever house. I think many of us will be thankful for that. Dont you think so?  |
Yeah, last time I heard that you can take out some money to buy house, car or even a computer. But I also heard some cases where there are people who abuse this facilities and withdraw the money for other purposes... |
Yes,some application of withdrawals were being rejected because the authorities realised that these applicants were found using the EPF to purchase other stuff & not as stated..people tend to misuse the facilities given to them..some even resort to cheating, faking documents..etc..They dont know how to make good use of such facilities.Sometimes I just wonder whether such facilities should be given or not? What do you say?  |
Maybe there should be some retrictions towards this services. Erm, how about the withdrawal after 55 years old? Do you think the goverment should control how much they can withdraw per month or do you think it will be better for them to decide how much they want to withdraw?
Some of them withdraw all the money and used it all after retired for only few years..  |
I think the facilities should be continue..after all the withdrawal for purchasing house & computers indeed manage to help those who really need it..as for the restrictions, i think there are rules on those withdrawals to purchase house..As for how much that they can withdraw, I think it is still best to let them decide how much to withdraw..after all when they reached the "golden age" they should be wise in handling their money..but for those who withdaw all the moment they got it..that is just too bad if they dont use it wisely...agree? |
Yeah, many of them feel that way too. It will be better for them to handle their savings by themselves instead of the goverment.
But how long do you think they able to use their savings? can they survive till they die? |
I guess whether they can survive or not really depends on their way of spending..also depends on the amount that they have..I have heard that some really finished the EPF in just few years time..after all they should be able to judge & plan for themselves as they should be very mature at this point of time- the retirement age! |
Yup, our spending should be totally depends on how much that we have. We should only spend within our means.
Listing out our expenses is a good way to track our money. Do you think so? |
It is good to know where our money go..but i prefer not to list it down every time we spend the money..the better way would be plan before we spend..we should know what is the major expenses for the month..rather than spend it & later complaint about the expenses.. |
Major expenses are important but most of us left out those minor expenses. Those minor expenses if we accumulated up then will become another big expenses.
As you said, planning is important. But for me, minor or major still play a rule in our cash flow.
Most of the people that without financial planning will usually use their credit card to buy the stuff that they like, as in their mindset tell them that they can always pay it later. |
Credit cards are common these days..I think if we use it wisely, it can help to release our tight cashflow..but the sad thing is most of the people only know how to spend..eventually very hard for them to pay back.. |
Instead of using the credit card then I would suggest them to use debit card. this is because at least those money is coming from their savings. No money = No transaction. This will be a better way to track their expenses as cash flow is directly from their accounts. |
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jesleong
Joined: 31 Dec 1969
Posts: 445
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| Posted: Sun Apr 12, 2009 9:13 pm Post subject: |
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| tyty wrote: |
| jesleong wrote: |
| tyty wrote: |
| jesleong wrote: |
| tyty wrote: |
| jesleong wrote: |
| tyty wrote: |
| jesleong wrote: |
| tyty wrote: |
| Actually the EPF also managed to help those really need money to purchase their first ever house. I think many of us will be thankful for that. Dont you think so? |
Yeah, last time I heard that you can take out some money to buy house, car or even a computer. But I also heard some cases where there are people who abuse this facilities and withdraw the money for other purposes... |
Yes,some application of withdrawals were being rejected because the authorities realised that these applicants were found using the EPF to purchase other stuff & not as stated..people tend to misuse the facilities given to them..some even resort to cheating, faking documents..etc..They dont know how to make good use of such facilities.Sometimes I just wonder whether such facilities should be given or not? What do you say? |
Maybe there should be some retrictions towards this services. Erm, how about the withdrawal after 55 years old? Do you think the goverment should control how much they can withdraw per month or do you think it will be better for them to decide how much they want to withdraw?
Some of them withdraw all the money and used it all after retired for only few years.. |
I think the facilities should be continue..after all the withdrawal for purchasing house & computers indeed manage to help those who really need it..as for the restrictions, i think there are rules on those withdrawals to purchase house..As for how much that they can withdraw, I think it is still best to let them decide how much to withdraw..after all when they reached the "golden age" they should be wise in handling their money..but for those who withdaw all the moment they got it..that is just too bad if they dont use it wisely...agree? |
Yeah, many of them feel that way too. It will be better for them to handle their savings by themselves instead of the goverment.
But how long do you think they able to use their savings? can they survive till they die? |
I guess whether they can survive or not really depends on their way of spending..also depends on the amount that they have..I have heard that some really finished the EPF in just few years time..after all they should be able to judge & plan for themselves as they should be very mature at this point of time- the retirement age! |
Yup, our spending should be totally depends on how much that we have. We should only spend within our means.
Listing out our expenses is a good way to track our money. Do you think so? |
I have a friend who will write down every single cent that he spend daily..According to him..this can help him to budget his expenses..For me, I cant be like him..calculating every single cent that I have spend..I will only take note of the major spending.. |
I guess different people have different ways to manage their own finance. Just do what you feel you are most comfortable with. Then everything will be fine.. |
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