Saving & Spending
Mental accounting
By Wilfred Ling, The IFA on Duty  •  December 7, 2007
By: Wilfred Ling image-of-thinking-man-s-brain-through-bowler-hat-uid-1460691.bmpA client of mine was paid in US dollar. He asked me whether should he maintain a US dollar saving account and accumulate his saving there as he receives the US salary. The rationale is because of the declining US, he hopes it will “recover” in the future. If he converts all the money into SGD now, there is no “hope” of recovering. Read more...
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By Wilfred Ling, The IFA on Duty
Wilfred Ling is a Chartered Financial Consultant with Promiseland Independent Pte Ltd. He is a fee-based financial planner by profession.
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