With GE2020 around the corner, we thought it would be nice to jot people’s memory on a rally speech Senior Minister Tharman Shanmugaratnam once gave on budgeting.

In GE2015, Senior Minister Tharman gave a rally speech about how important prudent budgeting is for the country.

We felt that his points were not only suitable for managing the country’s finance, but also for everyone’s personal finance!

As such, we will be elaborating how it can be used for our personal benefits.

Video Link:

Start from 27:27 if you aren’t interested in the whole 37 minutes speech.

First 4 Minutes of video: Prudent Budgeting & Asset Management.
Next 3 Minutes of video: Explaining CPF returns.

We will be talking about the first 4 minutes in this post

Video’s First 4 Minutes

In the video, Senior Minister Tharman mentioned that in Singapore.

1) We’ve had more than 30 years of the budget surplus being saved away in reserves.

2) We sold the land for money and kept the money also in reserves.