Price Hikes Public Transportation Singapore Budget

What you can do about price hikes for public transport in Singapore

Price hikes for public transportation in Singapore is set to increase. This will include the buses and trains fares that majority of Singapore takes every day to work or school. The public transport counsel has hinted the fares could go up by 7% after they have conducted their fare review exercise. (Read More: Fare Exercise Review)

The reasons cited for the rates increase has been put on the increase in energy prices, rail reliability and also introduction of new buses and MRT over the last few years.  This isn’t a shock to me at least. Over the years, fare price hikes has been slowly increasing. (Read more: Public Transport Counsel Chronology). As a nation progress, there will be need for a more reliable public transportation and this will result in higher cost of maintenance over time.

Price Hikes Public Transportation Singapore
Price Hikes Public Transportation Singapore: Source: Straits Times

For majority of us, the amount of money we spend on public transportation will soon increase in December 2019. We can either lament all we want about the $0.09 increase per journey or we always do something about it. (Read More: Sandwich Generation: Is it still possible to be rich?)


Money Maximization: Transportation

Readers of Wealthdojo are in luck. We were just exploring on ways to save on transportation in the previous article. (Read more: Save Money on Transportation Singapore). 

We have created a system to help an individual save up to 5% a year on transportation cost. This comes in timely as it can “cancel out” the effect of increase just by following this system.

Price Hikes Public Transportation Singapore Budget
Price Hikes Public Transportation Singapore Budget

If you can’t beat them, join them

I’m always excited about companies that are able to increase their prices even during a recession. While we are somewhat in a economy that is slowing down, there are a few companies that are STILL ABLE to raise prices and people have no choice but to pay for it! This is what we called Pricing Power. Investing in companies with pricing power are the ones that can survive and thrive. As Wealthdojo believes in dealing with real life situations, please refer to our disclaimer section for more information.

Everyone in Singapore probably knows of this company called SBS Transit (SGX: S61)

SBS Transit Stock Price ComfortDelGro
SBS Transit Stock Price ComfortDelGro

Basically, they are our train and bus providers in Singapore. Over the last 1 year, this humble share has increase 57%. I have talked about in our Facebook Closed Group (Contact Us to be invited to the Facebook Group). It is a simple business, easy to understand and has a certain pricing power in Singapore. Just to point out an illustration, will you walk all the way to Changi Airport by foot just because your bus fare has increase by $0.09? 99.99% will definitely continue using this service.

In addition to the 57% increase this year, the dividend yield is at 3.52% right now. While it isn’t the highest yielding dividend stock out there, this is clear about our inflation rate this year.

I recommend everyone to study more into this stock before making a decision. This is not a buy/sell recommendation.

We wish you the best in your financial journey.


In Wealthdojo, we believe in bespoke financial planning. Whether it is money maximization, insurance or investing, we believe that everyone is different and the planning should be suited for you.

All opinions above are my own. Please view our disclaimer page to understand more.

I hope to nurture genuine relationships with all of my readers. Please feel free to contact me on my Instagram (@chengkokoh) or Facebook Page!

Now that you’ve read about learnt about how to benefit from What you can do about price hikes for public transport in Singapore. I challenge you to read this article (Things To Consider Before Investing In Foreign Dividend Stocks )to push your understanding further!

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How Can You Stop Buying Shit You Don't Need

How Can You Stop Buying Shit You Don’t Need?

How Can You Stop Buying Shit You Don’t Need?

Have you ever gone out for a meal only to head home with a gazillion paper bags hanging off your arm? Oh No!! That feeling is terrible. But How Can You Stop Buying Shit You Don’t Need?

(This article is written by a recent graduate from NTU, Karissa Sim who is recording down her financial journey)

Being a recent rat in the rat race, I have just started getting my new “monthly allowance”. And like every other person who suddenly “come into money”, all I want to do when I’m out is to spend it all on things I didn’t bear to before (Consider Reading How To Track Your Expenses? ). From classy restaurants to Lush and boutiques, and spending hours on online shopping just adding things to my cart, the only thing left at the end of the day is an ever decreasing balance in my bank account and me wondering whatever happened.

How Can You Stop Buying Shit You Don't Need
How Can You Stop Buying Shit You Don’t Need. Damn.



Our subconscious has an incredible way of leading us by the nose to make the most redundant of purchases. Affectionately nicknamed System 1 by Professor Daniel Kahneman in his bestseller, “Thinking, Fast and Slow”, it refers to the fast, automatic and emotional thinking processes that often results in relying on illogical impressions, feelings and inclination for decisions. On the other hand, each individual also has a System 2, referring to the slow, deliberate and systematic thinking processes that evaluates our options rationally and logically.

“System 1 continuously generates suggestions for System 2: impressions, intuitions, intentions, and feelings. If endorsed by System 2, impressions and intuitions turn into beliefs, and impulses turn into voluntary actions. When all goes smoothly, which is most of the time, System 2 adopts the suggestions of System 1 with little or no modification.”

― Daniel Kahneman, Thinking, Fast and Slow

Confusing examples, I know. System 1 is the part of you that looks at that 50% off everything in store sign and desperately want to run in and throw everything remotely appealing to you into the basket and swipe that card. System 2 is the part of you that asks yourself if you are even interested in what that shop to offer, and if yes, whether the items you’re picking up is something nice, needed, and worth its price tag. Our system 1 is always sending alarm bells to us and made worse because of influencers.




How Can You Stop Buying Shit You Don't Need Beautiful Girl
Nothing against you. I wanted a photo of a beautiful girl in my blog. 

In today’s world, we are not only exposed to TV or online commercials, but we also place ourselves in range of being influenced by a group of people we call “Influencers”. These people are experts at appealing to our System 1 by targeting our mental rule of thumb (i.e. heuristics) or our cognitive biases.

Why do we trust what these influencers say? Because they are also people. We trust other people more than trusting brands and marketers. Furthermore, since many others are also following them, they should also be that much better at adulting than we are, aren’t they? This is the halo effect, especially since we view them positively as a person, we trust that their decisions would also be good. Forbes magazine also once reported that “data from influencer marketing platform MuseFind shows that 92% of consumers trust an influencer more than an advertisement or traditional celebrity endorsement.”

“Indeed, there is evidence that people are more likely to be influenced by empty persuasive messages, such as commercials, when they are tired and depleted.”

― Daniel Kahneman, Thinking, Fast and Slow

As the cherry on top, influencers leverage on the framing effect, as different wordings, settings and situations would affect our decision making differently – from emotional appeals to social pressure and more. An interesting example would be the fat loss gummies that rocked social media world in 2017, shortly after 28-day detox teas was given the same treatment by not just influencers, but celebrities worldwide. These teas did not work as well as advertised for majority of the users, but many still bought it at an inflated price because they trusted the influencers and their opinions. Interestingly, people forgot that these influencers looked as great before and after they “consumed” the tea.




Let’s contrast our thinking processes of System 1 with our System 2. In our great grandparents’ age, it was commonly believed that consumers are rational with their purchasing decisions – a feat only possible if they have all the information available in the marketplace. Today, the marketplace is so saturated with choices – the sheer number of choices with varying qualities and prices – that it is impossible for one to make the best economic decisions.

Unfortunately, there is no hard and fast rule to making the best economic decisions, not just when making consumerist purchases, but also when deciding what exactly to do with your money. How much should you spend in a month? What proportion of your monthly income should you invest? What about insurance? Savings? (Consider Reading this: Sandwich Generation: Is it still possible to be rich? and Insurance for investors and Money Maximization: REV©)

The answers to these questions and more can be answered in our monthly seminars. Why stop at spending less? Start working on meeting your future goals of owning that condo or that beautiful Mercedes.  (Consider Reading This: How can we be rich and succeed in the financial world?).

It is time to start understanding.

We hope this website will be one to let you be rich and succeed in the financial world. If you would like to start your financial journey today. Subscribe to us (yourwealthdojo) to learn how you can move through your financial journey together.

Thank you Karissa for sharing your own personal journey.

Naruto Run Area

How to Naruto Run To Financial Freedom

What is a Naruto Run and how is it related to Financial Freedom? What we are running to?

Naruto Run Area
Naruto Run

Recently, there is a big joke in the USA as there is now a whopping 1.7million people who have signed up to “storm Area 51” Facebook event. The event, which is called ‘Storm Area 51, They Can’t Stop All of Us’, was seemingly created as a joke. However, it has got so serious such that the US Air Force has issued a stark warning to anyone thinking of trying to gain unauthorised access to the base. (Read more: Naruto Run Area 51)

This sentence was what made it famous.

‘If we naruto run, we can move faster than their bullets. Lets see them aliens.’

For those of you thinking of what is a naruto run? You have come to the right place. A Naruto run is a style of running in which person or character runs leaning forward with their arms stretched out behind them. For those that need some visual image, look at the gif below.

Naruto Run Area
Naruto Run

Not the most important of information. In this article, we want to find out how we can Naruto run our way to financial freedom. Have you ever pondered about this question before?

“Why are some people rich and how did they become rich at a young age?”

How is it possible for people that young to be rich? This question comes out a lot for people who are in their 40s or 50s. They have worked hard for a HUGE part of their life but are not rich yet. Just how is it possible for  people who in their 30s become richer faster than them! This also puzzles me UNTIL I met people who are became Millionaires in their 30s. These are ordinary Singaporeans who also serve the same NS, buy the same HDB, and also get married (Read More: Sandwich Generation: Is it still possible to be rich?). I had a rare opportunity to interview these people and what they shared with me changed my life forever. To my surprise, I realised that there are many similarities on how they naruto run themselves into Financial Freedom. Today, we will look at 3 similarities strategies that majority of them used to reach their Financial Freedom.

  • Learn a high paying skill set

Let’s face it. To make money from assets, we first need to have money. In our initial working years, majority of us won’t have a lot of money to invest. Imagine you have a chance of a lifetime to make 1000% from the stock market, would you want to have $10,000 or $100?

$100,000 -> After 1000% -> $1,000,000
$1,000     -> After 1000% -> $10,000

See the difference?

For young people, the capital that we have will be limited. As a result, there might be tons of opportunities that we might be missing out if we don’t have money. Instead of lamenting on the fact that we don’t have money, successful people they learn a high paying skill SO THAT they can get more money to invest WHEN THE TIME COMES. To find a high paying skill set, we need to first understand what the market needs NOW. You can always get this information from LinkedIn (Read more: Tops Skills 2019). Some of the skills sets are evergreen, like Sales Leadership, Marketing and customer service.

There are many skills to learn. Choose one and get very good at it.

  • Maximise the available tools you have in your disposal 

Multiplier accounts (Read More: Money Maximization: REV©), Fixed Deposits, Bonds, CPF (Read More: Make The Most Of Your CPF). There are many tools that we are exposed to. But, it is still under utilized by many people! These are simple things that we can do to help us maximise the amount of money in our bank accounts especially when there is minimum fee or commission involved in these accounts. Successful people maximises what they have with what they have. Every cents counts.

I have a client who was not maximizing his bank accounts in Singapore. After, I share the REV strategy with him, his banking interest INCREASED by 600%

Before REV: $1400 interest per year
After REV: $10,000 interest per year

After sharing with many people, I realised that most Singaporeans will be able to get around $150 to $300 a month just using this strategy. These are just extra cash to be obtained if you put in that extra effort.

  • Learn Investing
Preparation is half the battle won
Preparation is half the battle won

In a recent survey (Read more: Most Singaporeans behind on retirement plans, many unsure how to grow wealth), 1 out of 3 Singaporeans is not investing. My question in my previous article is that are the 2 Singaporeans investing properly?

Most people that I met do some level of “investing” but when questioned deeper, I realised that many of these people “gamble” instead. So, how do you identify if you are gambling or investing? Ask yourself these questions

  1. Do you know what kind of business are you investing in?
  2. Do you know how this business collect revenue?
  3. What kind of risk are you taking when putting your money here?

If you are unable to answer those question confidently, you might be gambling with your money.

I realised that successful people who became rich actually spend money to learn how to invest. It is like a springboard to jump even higher. Yes. It will cost money. Yes it will cost time. Yes. It will take effort. It is like everything else. If you want to be good at something, it will definitely cost money, time and also effort. Why else would you want to risk your hard earn money.

In summary, we hope that everyone can naruto run their way to financial freedom.

Here, at wealthdojo, our vision is to be the platform for everyone to become enlightened in their financial decision so that they can become financially free. Our tagline: Your black belt to financial freedom. We hope this website will be one to let you be rich and also succeed in the financial world.

If you would like to start your financial journey today. Subscribe to us to learn how you can move through your financial journey together.

One in 3 adults doesn't invest OCBC survey

Most Singaporeans behind on retirement plans, many unsure how to grow wealth

“Most Singaporeans behind on retirement plans, many unsure how to grow wealth: Study”

This made the headlines on the 15 July 2019 with OCBC being the one doing the financial wellness index. It also made headlines when all the insurance consultants in Singapore started to share it on Facebook as well.

From the article, Singaporeans are really good at 2 things: saving regularly and sticking to a budget. This is not a surprise as most of us grow up in an environment where saving was enforce down our throats and we were repeated told the stories of Ah-Longs if we borrow money.

One in 3 adults doesn't invest OCBC survey
One in 3 adults doesn’t invest OCBC survey


The more shocking fact I read is “One in 3 adults doesn’t invest”

To me, I hope that the other 2 make money from their investment. Most Singaporeans are familiar with only conventional money management habits such as saving regularly (Read more: money maximization: REV) and getting some sort of insurance coverage (Read more: Insurance for investors). The ones that are suffering are those in the Sandwich Generation (Sandwich Generation: Is it still possible to be rich?). Even if they are investing, they might not have the time and energy to invest properly.

After speaking to many people on the ground, I realised that many people’s idea of investing is to put it into fixed deposit or invest into the Singapore government bonds. While both are financial instruments in their own rights, it is not the best way to accelerate retirement.

In Wealthdojo,  we believe that it is a process to be financially free and it is our job to identify where people are stuck at in their financial journey. Some people may be stuck at budgeting while others might be stuck at getting an appropriate insurance package. However, the number 1 most important reason why people feel that they are stuck is because:

They simply don’t believe they can retire anymore.

Is Retirement Still Possible in Singapore
Is Retirement Still Possible in Singapore

I believe many are engaged in the work they do everyday, living day by day and are unable to see it pass the next month. I agree that in Singapore, it is stressful and we do work more than our counterparts in other countries. That’s why we have to do more so that can retire in Singapore.

Ms Tan Siew Lee, OCBC Bank Singapore’s head of wealth management, said that locals generally look to bank websites, financial advisers and “coffee shop talk” in gleaning knowledge about managing their money. I encourage this kind of behavior and hope that money will not be a taboo word in Singapore.

I hope to live till a time whereby Singaporeans won’t have to say “Money Not Enough”

For those that have read till here, we thank you for taking money into your own hands. We will be running our yearly seminar talking about Sandwich Generation: Is it still possible to be rich? . We hope to be the “coffee shop” where people come to talk to get knowledge about managing their money. Tickets are limited. Hope to see you then.

All the best in your financial journey.

How to be rich and succeed in the financial world

How can we be rich and succeed in the financial world?

How can we be rich and succeed in the financial world?

How to be rich and succeed in the financial world
How to be rich and succeed in the financial world


Schools teach us how to be a good worker. However, there is not a single module or subject in school that teach us how to manage money. Therefore, when we first start to work, many of us are not sure how to handle money.

The truth is there is a huge group of people do not know how to manage money well. It is expecting children to deal with $1 million dollars. How can you expect people to manage money when it is the first time they have so much money? Take a moment to think about how fresh graduates get into debts in the first month of their salary. For most of us, it is the first time we have an income of $3000 to $5000 in their bank account. Most of us have only spending habit prior to this, we will just spend it all! This will set back our financial journey by years as we don’t prepare their wealth at all. We then find “investment deals” so that we can have more money to spend. The next important question is this.

How can you discuss about retirement or investment options when you don’t have any money to begin with?

Roll Eyes
Roll Eyes

First, we don’t prepare our wealth enough. We also found out that most people blame everyone else except ourselves. We blame the insurance companies, we blame the banks, we blame the government. There can only be a point when some of us decide to take things in their own hands.

That was how wealthdojo is for. Our vision is to be the platform for everyone to become enlightened in their financial decision so that they can become financially free. Our tagline: Your black belt to financial freedom. We hope this website will be one to let you be rich and also succeed in the financial world.

Do check out our flagship programs like Money Maximization: REV©Make The Most Of Your CPFInsurance for investorsFinancial Wizardry Program, and also Sandwich Generation: Is it still possible to be rich?.

We wish you all the best and hope to see you in one of our programs.