Money Mind

General Category => The Common Lounge => Topic started by: 老曾记 on Apr 29, 2024, 03:53 PM

Title: Is it worth it to lock up your funds for extra $200 payout?
Post by: 老曾记 on Apr 29, 2024, 03:53 PM
Let's just say there is a place to lock your funds 6 months and u get extra $200. Is it worth it ?
Title: Re: Is it worth it to lock up your funds for extra $200 payout?
Post by: jim889 on Apr 29, 2024, 06:25 PM
Quote from: luckyapple on Apr 29, 2024, 03:53 PMLet's just say there is a place to lock your funds 6 months and u get extra $200. Is it worth it ?

rock how much to get 200 dollar?
depends on how much.. if not wanting to use it can roh.
rock 1000 can
rock 10000 cannot
 :frown:
Title: Re: Is it worth it to lock up your funds for extra $200 payout?
Post by: 老曾记 on Apr 29, 2024, 06:35 PM
Quote from: jim889 on Apr 29, 2024, 06:25 PMrock how much to get 200 dollar?
depends on how much.. if not wanting to use it can roh.
rock 1000 can
rock 10000 cannot
 :frown:

Lockup one yr celery  :frown: was considering between tbill and cimb FD.
Title: Re: Is it worth it to lock up your funds for extra $200 payout?
Post by: jim889 on Apr 29, 2024, 06:48 PM
Quote from: luckyapple on Apr 29, 2024, 06:35 PMLockup one yr celery  :frown: was considering between tbill and cimb FD.

wah 1 yr celery ish alot reh for onli 200 nia.
chiu better consult the finance sexperts here.

if chiu nose need to use can consider but 200/12 is $16.60 a mth nia..

any bank normal saving account if chiu have $20,000 in savings.. interest if 1% P/A is this amt wat..

so wat is the point?
 :frown:
Title: Re: Is it worth it to lock up your funds for extra $200 payout?
Post by: 老曾记 on Apr 29, 2024, 06:54 PM
Quote from: jim889 on Apr 29, 2024, 06:48 PMwah 1 yr celery ish alot reh for onli 200 nia.
chiu better consult the finance sexperts here.

if chiu nose need to use can consider but 200/12 is $16.60 a mth nia..

any bank normal saving account if chiu have $20,000 in savings.. interest if 1% P/A is this amt wat..

so wat is the point?
 :frown:


Ok thank you Jim kor... You make sense.
Title: Re: Is it worth it to lock up your funds for extra $200 payout?
Post by: GhostZM on Apr 29, 2024, 07:05 PM
Quote from: jim889 on Apr 29, 2024, 06:48 PMwah 1 yr celery ish alot reh for onli 200 nia.
chiu better consult the finance sexperts here.

if chiu nose need to use can consider but 200/12 is $16.60 a mth nia..

any bank normal saving account if chiu have $20,000 in savings.. interest if 1% P/A is this amt wat..

so wat is the point?
 :frown:


What is the amount of your 1 Yr salary? Is it in 5 figures?


CheerS!!!😉
Title: Re: Is it worth it to lock up your funds for extra $200 payout?
Post by: default on Apr 29, 2024, 07:12 PM
your 1 yr salary say 50k also not worth it. if u say 1 mth can consider, 3 mths is rly when u totally dont want any risk and nth else to do
Title: Re: Is it worth it to lock up your funds for extra $200 payout?
Post by: drdoof on Apr 29, 2024, 07:41 PM
Worth it if you are confident that you will not be touching the money during the lock in period
Title: Re: Is it worth it to lock up your funds for extra $200 payout?
Post by: 老曾记 on Apr 29, 2024, 08:45 PM
Quote from: GhostZM on Apr 29, 2024, 07:05 PMWhat is the amount of your 1 Yr salary? Is it in 5 figures?


CheerS!!!😉

Yes Ghost kor, annual salary was 5 figures back in yr 2022. Now do part time job no more such salary liao. Next week losing job also.
Title: Re: Is it worth it to lock up your funds for extra $200 payout?
Post by: 老曾记 on Apr 29, 2024, 08:48 PM
Quote from: drdoof on Apr 29, 2024, 07:41 PMWorth it if you are confident that you will not be touching the money during the lock in period

After thinking through. I think it's not worth to lock for a mere $200.  :-\

Title: Re: Is it worth it to lock up your funds for extra $200 payout?
Post by: 老曾记 on Apr 29, 2024, 08:48 PM
Quote from: default on Apr 29, 2024, 07:12 PMyour 1 yr salary say 50k also not worth it. if u say 1 mth can consider, 3 mths is rly when u totally dont want any risk and nth else to do

Ya lor. If it's $2k extra maybe I can go ahead. $200 extra not worth it to lock 6 mths.
Title: Re: Is it worth it to lock up your funds for extra $200 payout?
Post by: GhostZM on Apr 29, 2024, 10:38 PM
Quote from: default on Apr 29, 2024, 07:12 PMyour 1 yr salary say 50k also not worth it. if u say 1 mth can consider, 3 mths is rly when u totally dont want any risk and nth else to do

If u r putting in 5 figures for that add. 200 after 6 months, I think just forget it..unless u can't find something else that generates a better return.


CheerS!!!😉
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