Are You Financially Fit?
EL Singapore|July 2016

Safeguard your fiscal future.

 

Are You Financially Fit?

We asked two Singapore-based financial advisors with expatriate clients for their opinions on two important issues: finding financial common ground with your new partner, and how to invest ethically.

Are you ready to share a bank account?

So you think you’ve found the one? Before you get carried away with dreams of “happily ever after”, ANDREW TALBOT from Expat Financial Planning, part of Globaleye Wealth Management recommends ways to smooth the path towards a united financial future.

“Multiple surveys have shown that the most common area of conflict in a relationship is money. Everyone has a distinct and different attitude towards money, often learnt in childhood,” says Andrew. He recommends a calm conversation over coffee before you move in together, saying it can help set the boundaries and rules regarding spending that will leave both of you feeling secure.

“It’s important to outline financial goals and directions together, and to discuss attitudes towards money,” he says. “Often, one person will be a saver who feels safe and secure with a large nest egg, while the other may be more of a spender, someone who lives for experiences and sees money more as a tool.” Understanding each other’s spending habits and goals and creating a balance is the key to harmony.

According to Andrew, most couples start with an independent approach, and gradually adapt a jointly managed approach as the relationship develops and longer-term life goals such as purchasing a home together, having children and saving for retirement come into play.

هذه القصة مأخوذة من طبعة July 2016 من EL Singapore.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة July 2016 من EL Singapore.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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