chanced upon a thread in HWZ.

talking about saving of money in NS. so yes it’s almost time and i thought i should think about it too.

1) first of all, let’s talk about the minimum salary. 400/mth x 24 = 9.6k (this is the minimum)

2) let’s see, if every month i use 25% of the salary on whatever thing = 2.4k = i save 7.2k (that is if i dun go out much no visits no outing be thrifty?)

3) some major spending over the 2 yrs = i give myself $700 to do that = i have 6.5k left

pros about the current lifestyle i have now

1) i dun go shopping or outing much (sorry to my friends but this is me and this is me)

2) i am not attached! (no one wants me and neither do i want anyone for now. wait for financial independence 1st)

3) i dun have much exorbitant hobby except audio. but due to army sake i might even pause it. it’s a want not a need.

some valuable quotes from the forum

1) If you’re in a stay-out unit after BMT, even better, use this time to improve your financial knowledge and stay one step ahead of others. Be financially smart, use time wisely. Read more…it’s a cheap hobby and better than those who spend on pubbing but get nothing in return…no capital gains…just money out no money in.

2) i will suggest that you read up on things related to finance to increase your financial knowledge when you are in army. A good start will be learning the stock market. (i’m so gonna do that)

3) This is easy. Stay in monday to friday. Eat cookhouse food for breakfast, lunch & dinner.

4) U can save alot more money by volunteering wkend guard duties or selling ur wkend time then ppl pay u, + free meals + free lodging.

5) Sign up for a Saving plan in POSB, save as you earn. Fix a specific amount you want to save per month then it will auto deduct from your saving account into this Save as you earn Account.

6) Fix a budget to enjoy the lifestyle you want. You need to enjoy abit too but not over excess.

7) Use the spare time to learn stuffs you always wanted to know about if your vocation allows

Be happy you still breathing : )

9) Sleep early, tok cok in bunk with platoon mates instead of going out for nights off.

10) dont take taxi, buy guard duties from others, dont eat at canteen only eat at cookhouse, bring food from ckhse or home to eat, dont go chiong etc

As we grow up we always need to start planning for our future. I’m still quite immature but i think it’s high time to start planning ahead of time.

so my goals to get out of this 2 yrs of army for NOW (29/12/07)

1) save 6.5k at least.

2) learn about stock market

3) continue to improve my artistic skills.

pinning this up as a link for future reference.