Saving money to $100,000 | Chicken Genius, Benny Ong, Qiuyu | Cafe Money EP 8

[@johnlam4470]

Do not compare with others. Don't care how anyone view or thinks of you and you will have success. Focus on your plan and goals. Delayed gratification is key to financial freedom.

[@sharhful]

Ms Wang Is smart and super fresh 😎 love hearing her on the show from a fellow female investor ❤️

[@yeojuanpoh]

i like how i used all 3 of your strats since i started investing back in December. This kinda says that im blessed that i make right decisions in life cause i really look up to you guys! Thank you!

[@realcafemoney]

Glad that these strategies have worked out for you too. It certainly did for me. -Qiuyu

[@tellder1]

First of all - Welcome to the crew Ms. Wang! It's an absolute pleasure learning from you :) Secondly - I resonate with Donkey Hunter the most. Extreme saving leads to the quickest wealth growth (and of course investing those savings). You must always think do you need something, and buy it only if it's neccesary. For example: in 2 years I have bought only one piece of clothing - jacket. I bought it only because I had to go an clean my old one, and found out that it'd be cheaper to just buy the new one (there was a huge discount). Only buy stuff you absolutely need - best saving advice ever!

[@teslabullsingapore8656]

Im from China working in Singapore, took me 10 years to save up 150000$, Chicken genius opened up my mind and I invested in Tesla, HODL till 2035 and retire with my tesla returns.

[@annajones9701]

Congrats.i just have excepted a new position in Singapore as investment analyst. What work did you do?

[@jpbell9873]

so ironic, Chicken Genius loves to shit on China and Chinese

[@teslabullsingapore8656]

@@jpbell9873 Even I love to shit on Chinese government :)

[@teslabullsingapore8656]

@@annajones9701 Hotel reservations bro

[@annajones9701]

@@teslabullsingapore8656 you make hotel bookings for travellers? Your own company?

[@geoffreylimcowealthadvisory]

I don't feel the problem because I am always excited to invest when I get my payday, right after bills I will go shopping in the stock market

[@JIAHAW-NG]

i have been saving more than 75% of my salary for 3 years straight and living as low expenses as possible, eat bread and mix rice, one meal a day, but I think my failure was not having a goal...end up I have save a big amount of money but I spend it away after I resign from the job. Luckily I start again the same habit right now with investment skills, I will die hard to save at least 50% of my income to fund my investment account. no excuses.

[@realcafemoney]

Thanks for sharing your experience. I think many of us can resonate with it. Tell me about it... i still have boxes of legos at home. 😩Glad to hear that you have started investment now. No Excuses.

[@patricktan98]

I have this habit on shopping where I will only splurge on fashion once in a blue moon, maybe like 1-2 times in a year. So when that day actually happen, I'll decide "ok I'm gonna splurge $300 on fashion and update my wardrobe and that's it" . Tbvh this habit is so rewarding because comparing between buying clothes every month and having a large budget to buy whatever you want when that time comes, is super super satisfying. Also when i was in NS, i like to tax myself too. Taking away $250-$300 from my $650 allowance each month.

[@MrRazorteeth]

I have saved $100k in 1.5 year. I have a fulltime job $4k and part time grab. No life and no time to spend money. Put on weight 20+kg😂. I did not have any goal at that point of time. Luckily my friend urge me to buy property and I did during end of 2019. And last year started to invest in $tsla, btc and eth. Thanks to Ken👍

[@deficator750]

Bruh u just explained my situation i started in may 2020 and now have little over 200k saved but i also gained 20kg profit. lol

[@gideon9849]

Nice! I did something similar. Now I am working on minux 25kg before my 150k

[@iamKKX]

This channel is gold. Simple methodology yet we didn't think much about. Thank you making such insightful contents. 🙏🏻 Love from SG !

[@xinxin5682]

I am a female here watching your video! I haven't been spending on clothes,only do so once a year for chinese new year. I don't really like shopping for clothes in general,thus I guess it's easier for me to ignore fast fashion etc. To top it off,my partner and I have a goal,thus we are saving up very consistently and doing investment. He is the one who brought me into the investment and financial freedom scene. It was so hard at first,but it got easier as time goes by. It's been 2 years since we started our investing journey and I would have to say that we are doing pretty good. Looking forward to more videos from u guys!

[@damianchang6439]

By day Ms Qiuyu is a teacher by night she’s a superhero entrepreneur and investor. Great addition to the team :)

[@HumanAIEvolution]

Love your new host! She is easier on the eyes than you guys.. haha j/k! Great to see this fun conversation that so many can learn from. Already a BIG follower of Chicken Genius Singapore Ken! One small suggestion is to remove the cell phones from the table, it makes the audience feel like you are more engaged. 🙏🏻😆

[@tomatosmoothie9773]

Female viewer here. Really glad to have a female host even though the boys were interesting too. And yes, don't need to spend much on clothes but to each their own (I personally don't care about how others view me >

[@realcafemoney]

Nice to know we have female audience here too! I think generally women probably spend more than men on clothings but it is always a choice. Most importantly, you are comfortable with it! -Qiuyu

[@kentan8693]

Hello, enjoyed this episode. Would really love to have an episode on the background all the different host. how you guys view money, what did you started out working as. hows your income like. and what strategy that bring you to who you are today. is there a switch of mindset? something you need to change in life. Would love to learn from all the host life story! looking forward to more episodes

[@tomchian6348]

Thanks for great sharing!

[@dr-k1667]

Juno! I'm going to miss him but you guys keep making great content and have added value with this new commentator. I am glad you found a woman to help bring a different persepective.

[@realcafemoney]

Don't worry! I am right here! My heart is with the team and you as our viewer! -- Juno

[@chaioliver20]

Benny & Ken seems to be enjoying themselves this episode.

[@realcafemoney]

Of course! 🤣 -Qiuyu

[@Itsahmadworld]

Any upcoming vids on the topic of being an entrepreneur and sharing your journeys would be amazing🙌 especially the viewpoint as an investor

[@michielecker]

20:00 Yup, standing order to save is the best thing you can do. That way, if you feel the "want" to splurge on something silly you have an extra barrier keeping you from spending as you need to first transfer your money from your savings account to your card or whatever.

[@botech386]

Love this, i am watching every episode in your channel

[@carlossp6211]

I press the like button and then watch it!!!! love your podcast!

[@christgoku]

Super informative and educational :)!! And great to see Qiuyu joining in :D!

[@thefungiblemillennial-fina2207]

Hi from Australia here, great vid. Always invest otherwise inflation will beat you.

[@dr-k1667]

So much great advice and ways to implement the lessons you 3 have learned for those listening. Great show everyone!

[@sureshrau8723]

Saving money to buy one TSLA every month.Feel that this has better gain compared to paying bank for mogage private property.

[@qixenp]

This needs unpacking. Looking forward for more episodes on the same topic. I know you guys have great solutions for wealth accumulation, you should talk about savings vs growth or some people may think that by setting aside 20% of their income and even worse by funneling it all into some insurance saving product they would get richer where in fact inflation combined with opportunity cost will only make them poorer. I also find it to be very different both semantically and psychologically when on a pay day you monthly buy a share of tesla (or bitcoin or whatever rocks your boat) versus sending 1000 bucks to another savings account.

[@wcweng1]

good way to learn. thumbs up

[@solitude8375]

I am glad that someone is doing the same as what I have been doing for the past 18 years. I thought I was too extreme towards myself when comes to saving and investing. My determination is as strong as "John Wick", I suppose. Lol

[@linus8608]

Maybe you guys can do an introduction on all the hosts, i am more familiar with chicken genius because of his youtube channel but not the other hosts! Great content nonetheless!

[@chubby-z8160]

Saving or spending for things like holiday, it is all about individual priority in life. There is absolutely no right or wrong. You may decide to spend $2,000 for welfare of your family, or decide to keep the money for yourself to 'save' or 'invest'. I do spend on multiple holiday (pre-covid), in comparison to my elderly folks whom did saved a fortune, but no longer have the energy or time to do travelling anymore.. Just dun live a life with regret, as you can't buy lost time no matter how much money you have afterward.

[@shermaineyeo1550]

I totally love this show! I think God has smiled at me to have shown me this series, it’s really educating and relevant, everything that you all spoke is so true!!! A female viewer here, I don’t really go out often and I’m not the type to dress up a lot also so I guess I do not spend a lot on fashion? But somehow I spend more on food or shopping for other stuff, actually just food only can already take up a big portion of my expenses.. The personality and methods of hustling in this show are totally my types, I wish I can be friends with you all 😆 I too don’t like to be mediocre and is always looking for something out of the norm, to be different and successful. At the end of the day we are all still human who have wants and needs but most importantly we know how to be contended, happy and be able to make jokes 🤣 It’s amazing how you all are sharing personal tips and tricks that are actually very insightful and useful, how I wish everyone watches this and can learn from y’all!!! And I absolutely love that all of you have different opinions and views towards things in life and all can share their perspectives, understand and talk about it together 👍👍👍 Love this show and everyone involved, keep it up and going!, ❤️💚💙

[@glenqiu5046]

Like the awesome sharing. Thanks guys!

[@aaronwu7199]

Good talk guys! Love the different perspectives and life lessons. Qiuyu is a welcome addition to the team!

[@Crypt0Crossf1re]

thank you guys for the video! Gracias!

[@paldavi2876]

Brilliant guys. Loved this conversation and it was fun. Make me laugh.. Thanks guys 😁😁 Paul /Dublin /Ireland

[@marcorodriguez8477]

Such a great vid! I appreciate all of you for sharing your information to the world. I wish more people were willing to look for it :)

[@capestreasuresPtown]

I keep my wardrobe simple - always black fishnets, black skirt and Polo shirts I get for free using LLBean credit card points. It's my work uniform while I earn, save and invest till I get a little older then I will work 50% and buy a few dresses! I don't need more shoes, I need more $TSLA!

[@SetTheCurve]

Need or want? I need almost nothing. But living according to what you need is not living, it’s surviving. It’s existing.

[@ftnkeek]

great episode! love this. can you all share more about what you do for leisure/entertainment? most people my age want to eat good food and spent on extravagant stuff. it's hard to find like minded people in terms of that. how do you strike a balance?

[@Lololol555x]

Is not hard to save money if you come from a poor family since young, seeing how limited your family have. You will naturally become much more mature and instant realised the power of money. Which will work towards savings and earning more. That's how I started saving money since age of 4yo 😂 (26yo now) it just becomes a habit over time. And you will also learn to be more resourceful. Btw female viewer here hahah

[@nicolaiisback]

Hey guys love the podcast. You should definitely remove the Ikea board in the background to! Kind regards a design student :))

[@mechakeitaro1]

Very good talk. Thank you👍🏼

[@LinJiaLim]

female viewer. I think it's cool that Ken drove a van instead a car. he was fixed on his goal and see a van as a mode of transport and not a reflection of his status or self worth. haha maybe the no. 1 rule is to value yourself and your goal, even if it means going against the grain or living a little less conventional than others.

[@jooopdeur1759]

Standing Order is GIRO , autosweep :) love these conversations and thank you so much for sharing. Thank you for the awesome content!

[@jpttech]

I am literally saving to become a millionaire. I made that promise/goal to myself last year.

[@mikeb5030]

Dont save. Invest it. Youll be a millionaire faster when you invest rather than save.

[@jpttech]

@@mikeb5030 oh I am, sorry wording

[@mikeb5030]

@@jpttech oh no worries brother. No need to apologize. Just wanted to make sure to give a better advice. Cheers!

[@iNeed2ppp]

Discuss on savings plan? Who should be those plans for?

[@KeyBored101]

This is my first episode and I absolutely loved it

[@realcafemoney]

Do continue to support us! -Qiuyu

[@vivaaloha2020]

Great content guys, really enjoyed the talk! The female addition was nice, plus added a different perspective 🤙

[@rghewer]

Enjoyed the show. One suggestion: Ms. Qiuyu should sit on a higher chair or have a lower mic stand. Especially her, but maybe everyone should be slightly higher than they are now over their mics. Keep it going 👍

[@realcafemoney]

LOL Thanks for the tips! This is quite funny because Juno says he will get a seat booster from MacDonalds for me.. LOL -Qiuyu

[@terencew7657]

I saw chicken genius yesterday at MaxWell Hawker .

[@believer7280]

She was so funny when she was talking about LEGO. ha ha. Hey, I wish I still had some of my toys from my childhood. They would be worth a lot of money today.

[@dialmstyle]

So much great info here. Thank you for this!

[@realcafemoney]

Glad you enjoyed it!

[@dxelson]

I set up automatic scheduled transfer for 60% of my salary to another account as well! 19:00

[@JJ-bb3sv]

Oh no! Juno adds great content value and different perspectives as well! You 3 have great chemistry! Hope to see you featuring in some future videos!

[@realcafemoney]

Thank you! Juno is right here with us and perhaps he may pop in for some of the episodes to come! Stay tuned:)

[@sutring4508]

i think i will go with ken, i usually testing my friend's color with money ... but so far, all i am having are good people around me.

[@sheadonchay2942]

Love the show guys.keep it up!

[@realcafemoney]

Thanks! Will do!

[@adrianyeong9513]

Benny , I have a question. lego , watches and house consider as a expenses if you don’t sell. Isn’t equities the same? Even is it appreciate ? you don’t sell and still dollar cost averaging it over the years. Do you still consider it as a expenses ? Watches , lego and house appreciate over time as well due to inflation , demand , cut production etc etc. But if you like it, same like tesla. When then you sell? Or is it good that you sell some , wait for it to drop , buy back again? ( then again nobody can time the market ) Same like watches , maybe after you sell , you can never get it back at the same price? Question - Do you think knowledge of asset class (maybe lego) is important or just live a system to save and save to invest in the thing you love and have time in the market ? But again , if you love it why sell? Good topic , enjoying it. Have a great weekend

[@TheCebulon]

5:10 Plastic money 😂 Oh no, wait, that was credit cards. Greetings from Munich, Tom.

[@warrengraham7461]

I agree with Qiuyu about lending money to friends.

[@Elizabeth-nb5xn]

Can you do a sharing on bank accounts? How many accounts each individual should manage etc.

[@Treyy896]

Do you guys believe it’s more advantageous to buy a property through a business or in your own personal name? Love this supporting from the UK 🇬🇧

[@dr-k1667]

Quality over quantity it cost less in the end. I think men and women who love fashion that put this thought into practice makes you very discerning since you will be out of necessity, careful when funds are limited and make decisions that will serve you well over time.

[@damnthisgirl2130]

I’m with Benny ~

[@joseserrano1023]

Q’s edition is awesome 🔥🔥

[@KTmin3]

want to listen to you guys in apple podcast!

[@ngaikaituck8229]

@Qiuyu, well done!

[@Treyy896]

Also can’t believe you guys didn’t know about standing order bank transfers wow hahah love the great work guys !

[@raheeb1]

401K / retirement savings that automatically happen as soon as you generate a paycheck, is an excellent way to ensure the discipline part is not a factor. I realize it's not available for many, but yeah, many employers can match some %, so let's say one who matches up to 6%. Right there, you are paying yourself 12% of your pay *before taxes* (6 from your pocket, before tax, and 6 matched by the employer, again before tax is calculated on the rest of your paycheck). So right there without thinking you're putting away 12%, in fact even more, because it's pretax (so after-tax dollars/currency it would require more to be put away to make that %). Again yes I realize 6% match from an employer or even 5 or 3%, is a pipe dream for many.

[@mathewroberts4834]

Great show guys, and gals

[@nixon2652]

Personally, I have sort of a checklist in my brain. Whenever I "want" to spend, I will question myself on usability. In simple explanation, I will ask myself whether do I even need this "want" item and will I even use it. In any case where it is justifiable to the amount, I will check 1 box. Every single time I check a box, I will ask myself again if I need it.

[@chrissylarson6232]

I don't spend very much on how I look - not because I don't care about my appearance but I just try not to connect it to my VALUE in the world. In terms of saving, I am better at doing that than investing... I am trying to learn investing so I can start moving savings to stocks, ETFs, and crypto. Right now, I have more discipline to save than courage to invest!

[@FRANK.GUERRA]

Awesome show! Congratulations!

[@CharlesPare]

Love the Singapore accent :-) Keep up the good work!

[@ericchua4036]

Good watches are beautiful things just like a piece of art. It doesnt just tell the time.

[@yourmadjesty988]

Become a homebody (宅男 / 宅女）, most of them I know have big savings as they rarely go out and rarely spent on anything.

[@kohkokwai9548]

@Qiuyu Is the Orange Porsche for sale? I believe is Lego 42056.

[@realcafemoney]

Yes it is.. the last i saw the price has gone up!🤪

[@scbchong6964]

You need to confront young singaporeans with this fact: Over 96% of citizen households own their homes. That means young adults live rent free with free meals under their parents' roof once they start work. Few pay for groceries, utilities, housekeeper etc. So much disposable income. No excuse not to save more when young. Lots of savings means more choices to take advantage of opportunities and more freedom.

[@boonyuanong]

It's a lease* HDB is owned by the gov and you have to give it back after 99 years

[@scbchong6964]

@@boonyuanong You are probably young so still never save enough and never sacrifice anything yet to earn a living. You can sell for profit anytime past Min. Occupation Period. Only stupid people stay in one place for 99 years. The flip side, if all freehold, then younger citizens will not have chance to live get a home. Because the older citizens will hoard and hog the freehold property for themselves, right?

[@misslurmath]

Good episode

[@Briianjh]

Great episode!

[@perpetualquotes]

In Singapore Context is challenging to save for private property

[@iTuber012]

Indeed pay yourself first AND automate it to a dumb savings account you cannot get it back from so easily. I found a free savings account with Ally in USA which used to have 1 percent interest rate which is sadly considered good these days @22:22 I see Chicken has watched 'A Bronx Tale' lol

[@surewin1624]

Do u guys have any advice for a 20 year old trying to save up money to pay for their uni fee and also at the same time building up my investment portfolio?

[@surewin1624]

@Café Money sure~ u think I 5 year old kid ah

[@kxish]

That moment when Chicken Genius learns about automatic withdrawal/transfer...

[@danmack145]

In 2009 my expensive mistake was also a convertible...GT Mustang. Felt awesome for about three months, then it became just another car. I sold it in 2010 for like $4000 less, feeling stupid for wasting money. Such a great and expensive lesson learned in my 20s.

[@XducationAI]

It might be buyers remorse .....if only u bought the right car

[@danmack145]

Awesome! Will you create a podcast channel so we can listen to these shows on the go? Thanks!

[@realcafemoney]

Yes! You can actually find the link to our podcast channel at our KZbin homepage!

[@Kid47483]

Good choice of host, 'yang' energy was too strong previously but I digress. ;)

[@TheTheanws]

How about transfer it (5-10% of Salary ) into CPF and earn 6%, 4% and 2.5% interest compound interest. You cannot withdraw until 65 years old as retirement fund. Host ur view?

[@ixspectre]

Those returns are infinitesimal. You’re better off investing yourself, seriously.

[@henryquach604]

took me 2.5 years to save up 100k CDN dollar = 100K SINGAPORE DOLLAR. true story. i didn't do shit for 2.5 years. didn't go out and eat out. didn't hang out with friends. didn't travel. didn't do shit. I saved 100k to invest in a condo to have a roof over my head. now I am on cruise control.

[@henryquach604]

what i do is...i have an excel sheet of my monthly expenses. I get paid twice a month. I deduct my monthly expenses from pay cheque and the difference goes into the stock market which gets invested into growth stocks. =D

[@cryzemagus2596]

Chicken Genius forgotten to mention about investing surplus savings into Tesla hahah!

[@bphatness3924]

Justice League just introduced Wonder Woman!

[@sushisin377]

Not sure certain bank charge automated giro transfer but have to ensure enough fund inside yr ac if not high penalty charges. Last time I save my money using posb Save-as-you-earn ac automated monthly deduction from my salary ac. No atm card allowed. 2 years savings plan. I cut down on clothing buying but not skin care products. I agree with Ken concept want or need.

[@LifeHacksProducts]

I have the best savings plan - Single / non-smoker / non-gambler / no vices.

[@realcafemoney]

These are very good habits. Keep it up! Hopefully this video gives you some good tips on how to save up for investment too.

[@dishin2213]

And also, no life

[@LifeHacksProducts]

@@dishin2213 Why must smoke and gamble to have a life? If you mean single no life.... Then I have to tell you. I am by no means lonely because I have great friends who hang out every weekend.

[@HoneyMoneySG]

Nice addition to the Cafe Money team!

[@xaft]

thanks for the video!!!

[@Fatum0722]

Nice video, had fun lol :D

[@j.milleraabamsc9400]

Invest in NIO stock now

[@vegansLucko]

I don't pay myself first because what I do for fun is free so it works out

[@briananderson2219]

I think you might be using the term “pay myself first” improperly...

[@SethyTan]

I have a podcast topic to suggest "In Singapore, how much do you allocate to pay your parents"