Our take on Budget 2020

Some people have asked us for a take on the Budget 2020. No GST hikes are nice. Cash handouts are very pleasant indeed. But with a little discipline and fortitude, the average salaryman can earn/hustle enough to make up that amount anyway, What we'd like to focus on instead is the bigger picture, because you can learn a lot from watching how a country spends its money. Here are some takeways we derived: ROUGH STORMS AHEAD: Singapore is generally prudent with its spending. You know things are serious when a record amount is spent on supporting the economy. If you haven't started managing your finances, this is the time to start. ADAPT OR DIE: You get more SkillsFuture credits than in GST vouchers. It's important to keep upgrading and learning. We cannot cruise at where we're comfortable and expect to thrive. Singapore's greatest (only) asset is it's people. Assets that don't adapt and stay relevant become obsolete. People are the same. DON'T BE TOO ARROGANT TO LEARN FROM OUR NEIGHBOURS: Our neighbours are developing at breakneck pace. Many Singaporeans think they are superior because of Singapore's amazing journey from third world to first. That's outdated thinking. We need to learn from their rise, as they've learnt from ours. That's why the government aims to send 70% of graduates to have overseas experience. Now in case you're worried about the future, don't be. As one of the wealthiest countries, Singapore has enough resources to stay afloat in turbulent waters. You can do the same. When it comes to your financial and personal goals, stay disciplined stay focused, and of course... stay woke, salaryman. TWS_BUDGET_010

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One reply to “Our take on Budget 2020”

Jennifer Wright says:

November 9, 2024 at 3:03 pm

“Thanks for the dope breakdown on Budget 2020, man. I really dig how you emphasized the importance of supporting our local businesses and investing in skills upgrading. But I’m curious, do you think the measures outlined are sufficient to help Singaporeans cope with the economic challenges ahead? Just wanna hear your thoughts on how we can truly secure our bag in this uncertain climate, you know what I mean?”

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