BT Money Hacks20 Touko 2019

S1E43: Saving for key life goals in your early 20s: Money Hacks Ep 43

Money Hacks Ep 43: Saving for key life goals in your early 20s

12:33 mins

Synopsis: In this podcast series every Monday, The Straits Times and The Business Times break down actionable financial tips.

This episode is brought to you by OCBC Bank. It is aimed at millennials and students who have life goals but aren't sure how to work towards them.

Money Hacks' Chris Lim hosts 19-year-old Lim Li Shian (Liz), a temp at The Business Times, and Mr Vasu Menon, OCBC Bank’s Senior Investment Strategist, Wealth Management Singapore.

In a Frank by OCBC survey of 866 students and young working adults aged 16-29, done earlier this year, almost three-quarters said travelling is important to them, while more than four out of five ranked life experiences as a top priority, along with maintaining relevant skills as part of pursuing further education.

Are these goals realistic?

0:42 mins - Mr Menon guides Ms Lim, who says she wants to set aside money for university studies, travel overseas, or learning a new language.

1:41 mins - He shows her Frank by OCBC's Savings Goals online calculator and how to set aside money each month to achieve her immediate goals.

2:57 mins - Are long-term goals also important for the young to keep in mind?

4:16 mins - Find out why you should not borrow money to achieve short-term goals, like travel trips.

7:00 mins - How about Ms Lim's medium-term goals like owning a car? Find out what advice she gets.

Get more Frank by OCBC articles for the young here.

Produced by: Ernest Luis and Christopher Lim

Edited by: Adam Azlee

Like, subscribe and rate our Money Hacks podcast on:

Spotify: http://str.sg/oeGN

Apple Podcasts: http://str.sg/oeXe

Google podcasts: http://str.sg/oeGd

Website: http://str.sg/stpodcasts

Feedback to: podcast@sph.com.sg

Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.

See omnystudio.com/listener for privacy information.

Tämä jakso on lisätty Podme-palveluun avoimen RSS-syötteen kautta eikä se ole Podmen omaa tuotantoa. Siksi jakso saattaa sisältää mainontaa.

Jaksot(275)

S1E275: The six-month breaking point: are you actually prepared for the unforeseen?

Is your financial plan truly resilient, or are you one emergency away from disaster? 61% of households struggle to cope beyond six months after a loss of income. Howie Lim sits down with Sun Life Asia...

28 Kesä 19min

S1E274: Stop waiting for the 'right time': why micro-investing is the new wealth superpower

You think investing is complicated? That's exactly the problem. What if you could start with $10 with no need to wait for the "right time"? Many entities are quietly embedding finance into everything ...

21 Kesä 15min

S1E273: Mid-year reality check: the "ETF and chill" era is over

Your "ETF and chill" strategy just got a reality check. Halfway through 2026, the S&P 500 is no longer the only game in town — and the smartest investors are quietly restructuring. Chips, crypto, Sing...

14 Kesä 16min

S1E272: Credit score myths debunked: what banks really look for

Your credit score impacts everything. Experts from Credit Bureau Singapore and MoneyHero Group bust the biggest myths, from "clean" profiles to unused cards. Are you managing your financial reputation...

7 Kesä 18min

S1E271: Liquidity: the anxiety antidote

Is your emergency fund ready for the real financial crisis: stacked, non-stop inflation? A budget is not enough. The rising cost of living demands a new kind of preparation. We dismantle the "inflatio...

31 Touko 15min

S1E270: Yield without fear: Navigating credit markets in a high-rate era

Are you missing out on serious returns? With a massive $12 trillion sitting in money markets, it's time to look at fixed income again. But success in this market depends on knowing which bonds to buy....

24 Touko 14min

S1E269: The great yield shift: why banks are gaining altitude as Reits seek grounding

The high-yield trade is fracturing. As higher-for-longer rates lift banks' fortunes, Reits face a triple threat: narrowing yield spreads, soaring debt costs, and depressed valuations. Is your income p...

17 Touko 19min

S1E268: Risk reset: differentiating a flash sale from a fundamental flaw

Is "buying the dip" dead? The market is volatile, interest rates are up, and the old rules are breaking. Don't be fooled by a flash sale that's actually a fundamental flaw. What are systematic, discip...

10 Touko 17min