Living Costs Are Rising: Will the Upcoming Fed Rate Cut Change the Current Situation?
Hi mooers![]()
Are you feeling the financial strain of escalating living costs? You're not alone!🤔 In Mercer's latest Cost of Living City ranking, Singapore has been rated as one of the most expensive cities in the world. We feel the pinch every day, whether it’s on big-ticket items like housing and cars or daily expenses.
For instance, COE prices have doubled over the past five years, property prices continue to climb, and much more. On a broader scale, many restaurants have increased their menu prices; GST, ERP rates, public transport fares, and electricity prices have increased, and even OTT service subscriptions are more expensive.💸
The cost of living in Singapore is always a hot topic, and any news related to rising living costs often draws widespread attention.📈🏙️
But could new possibilities or opportunities exist to help manage these rising costs or even grow our wealth? The upcoming Fed rate cut might just bring about new opportunities!🌟
It seems that the Fed rate cut could influence our financial behaviors. What are your thoughts, and how do you plan to adjust your financial strategy? Share with us 🗣️:
1. What are your current living costs and spending habits like in Singapore?
2. What do you plan to alter your spending habits?
3. How will you rebalance your investment portfolio?
Share your thoughts and plans in the topics to win rewards>>
💡Note: Only posts under the topic may get a chance to win the rewards!
💡Note: Only posts under the topic may get a chance to win the rewards!
⏰Duration:
From 12 Sept 2024, 4:00 PM (SGT) to 27 Sept 2024, 11:59 PM (SGT)
🎁Rewards:
30 points: for writers of on-topic posts over 30 words.
300 points: the top 10 mooers with the most impactful and engaging original posts.
Notes:
The influential posts will be selected based on post quality, originality, creativity, and influence. Posts that are not original or relevant shall be excluded. All rewards are mutually exclusive. All rewards will be distributed to your universal account within 15–30 working days after the winner's announcement. This presentation is for information and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. See this link for more information.
Source：
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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mr_cashcow : How to deal with high COL in Singapore![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Moomoo SG OP mr_cashcow : Wow a nice sharing!![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Good tips for fellow mooers. Why don't you join the topic Living Costs Are Rising: Will the Upcoming Fed Rate Cut Change the Current Situation? to get a chance to win points! ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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mr_cashcow Moomoo SG OP : Done![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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Read here for my analysis:
Impact of the Fed rate cut on living cost and investment
s2nw2g : Lowering of IR helps reduce mortgage rate, but also drive spending and might result in higher inflation. I will do nothing for now and monitor US economy for the time being, depending if it go into recession. If it doesn't, investment will do well. If it does, get ready your war chest. Always have watchlist ready and not when market clash. However, if some of your watchlist offer opportunity now, go small (dont throw in your kitchen sink). Drop, you dca, fly, you stayed invested. Small profit is better than no profit.
CieloL : Increasing cash reserves during an economic downturn becomes particularly important, holding enough cash during market volatility can help avoid being forced to sell during a recession and provide funds to seize opportunities during market stability.
ljxP : 1. What are your current living costs and spending habits like in Singapore?
The living cost in Singapore is crazy high with everything increasing in price by around 20 %, where my spending used to be around 600 sgd to the current 800 sgd. I am someone quite minimalistic; I only spend on groceries, essential health supplements for my medical conditions, food, and public transport. I don't spend on travel and entertainment these days.
2. What do you plan to alter your spending habits?
I don't plan to change my spending habits since my lifestyle is minimalistic to begin with. But I do plan to get Amex credit card to utilise the amex pay function at hawker stores or etc that do not have credit card terminal.
3. How will you rebalance your investment portfolio?
I forsee that all the moomoo cash plus returns will drop according the lowered interest rate. Thus, I plan to lock up some of the money in long term fixed deposits, singapore savings bonds, T bills for the safer investment side. I also plan to pump more into the equities like some of the growth stocks.
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