Update: It was brought to my attention that some readers have misinterpret the purpose of this article when I used myself as a personal case study. While I try to keep my personal life mostly separated from this blog, I decided to share more information about myself. I did not have the good luck to…
US Senator Elizabeth Warren popularized the 50/20/30 budget rule in her book “All Your Worth: The Ultimate Lifetime Money Plan.” The basic rule is to divide after-tax income, spending 50% on needs and 30% on wants while allocating 20% to savings. Thereafter, experts have been recommending consumers to save 10-20% of their income. Even in…
For new readers, I bought a SOHO property at The Bridge, Cambodia and I saved diligently each month in order to pay for the purchase. After making my final payment for my SOHO apartment, I signed the tenancy lease agreement to officially allow the property developer manage the leasing of my apartment for the next…
Do you really understand why you need insurance? I don’t want to say that all insurance agents are unscrupulous and money-minded, because I have a few friends who work as insurance agents and are really good at their job. The sad reality is that insurers are dishing out very attractive commissions for insurance products that are…
In online forums and Facebook groups that I’m a part of, it’s heartening to see that many young adults are asking questions about managing their personal finances. How much emergency funds should I have? What type of insurance should I buy? How much insurance coverage is considered enough? Where should I invest my money in?…
Creating a budget can be daunting but it provides the fundamental structure for your financial planning and keeps you on track with your financial goals. Here are 5 simple steps to creating the budget that works for you in an infographic.