Dear readers, Christmas is a Season of Giving and for this year, Christmas is a season for Savings for me too.
Just before the GST hike from 8% to 9% in less than a week, I already have started buying some items for myself and family.
It is pure coincidence: I do not set out to buy these items in view of the GST increase. That is, I do not time these purchases, rather I bought these items due to the effect of time.
Over time, my wallet, sandals and shoes have worn off and this was the reason why I purchased new items for these recently, spending $200 in all!
And if the above is not enough, last week, my washing machine was declared spoilt after repeated efforts to restore the machine. Considering that the washing machine has been used since year 2016, I find the depreciation span of the washing machine as reasonable. Hence, I spent slightly more than $1,000 for a new washing machine.
I have hence spent more than $1,200 in all on purchase of new items and this to me, is considered reasonable as these purchases result from needs rather than wants.
I also reason that I have spent now before the increase of GST by 1% and hence have saved as a result of my spendings now than next year.
So are there things you would like to buy? You may wish to buy them before prices may get more expensive from the increase in GST and you could also possibly get some discounts in the Christmas and New Year sales.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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