Money Can Buy Happiness

Which one are you?


The save-some-then-spend-the rest type, or the spend-first-then-save-the-rest type?


The question above opened the evening’s session with OCBC NISP‘s own Wealth Management Team Leader, Stephanie M. Kristianto.


We deal with money in nearly every aspect of our lives, but when it comes to talking about it, not everyone is at the same comfort level. As a result, a lot of us are still confused about how to manage our personal finances, let alone for our business.


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Stephanie shared some basic guidelines on how to manage our budget – among others, the 50:30:20 rule: 50% for primary needs, 30% for lifestyle needs, and 20% for financial needs. And as it turned out, a lot of the participants are not yet familiar with this simple tip.


As the session went on, Stephanie and the team from OCBC NISP gave some insights on how to manage debt (or avoid them altogether), how to prepare for retirement, the basic steps to financial planning, and even did several calculation simulations with some of the participants.


“It was a real eye-opener,” said one of the participants, who claimed she never really thought about saving a certain portion of her income first before spending the rest. “I never knew of these saving tips, I just live from paycheck to paycheck and simply not spending so much when I know I don’t have that much left.”


Another participant summed up the night by saying it’s a reality-bite for them. “I thought investing can wait until I actually earn a significant amount – turns out the earlier I start, the more I can get!”


Yet another reality-bite comes from the realisation that sometimes we forgot to take inflation into our calculation. “It seems like no matter how long or how much I save, like for a vacation or for that new car, I keep missing the mark. No wonder!”

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Wrapping up the night, Stephanie and OCBC NISP team left us with one key message – no matter which financial planning steps we decide to take, whether it’s allocating a certain amount every month or choosing an investment method, the keyword is discipline.

We are in charge of our own finances, and we should take full responsibility for it.

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Netwarming: Personal Development Series

“Money Can Buy Happiness”

Strategies for Spending and Saving

Thursday 4 Aug 2016


sponsored by OCBC NISP

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