Would you drive from Johor Bahru (JB) from Singapore on a monthly basis to stock up milk powder and diapers for your children? On a daily basis, we are confronted with choices to make regarding money. Ultimately, there are no right or wrong decisions but whatever choices you made, they always come with trade-offs. As a wealth builder, sometimes I feel that many Singaporeans miss the forest for the trees.
I saw an article by fellow finance blogger who pointed out he saved $50 by shopping in JB for his children’s milk powder and diaper. He then claimed that if he did so on a monthly basis, he can save a mighty $600 annually. With the magic of compounding, he would be able to pay for his children’s university fees in 20 years. As a parent of two young kids, I can certainly relate to his financial concerns of raising a kid...
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