Big goals: wedding, home, car and kids

Turn each big expense into a dated target with a monthly amount, keep the money in the right place, and choose when goals compete.

The big costs of your late twenties and thirties tend to arrive close together: a wedding, a flat, maybe a car, then a child. Each one is planned in isolation, usually late, and the gap gets filled with a loan or by raiding another goal. This course gives every goal a target, a date and a monthly amount, shows you where to keep the money for each time horizon, and works through realistic plans for a wedding, a home downpayment, a car under the COE system, a child and further studies. Then it gives you a way to choose when you can't fund them all.

What you'll be able to do

• Turn each big goal into a target amount, a date and a monthly saving figure
• Choose where to keep each goal's money based on its time horizon and how much loss it can take
• Build a wedding budget that counts banquet costs and expected ang bao separately
• Plan a home downpayment that separates the cash portion from the CPF portion
• Work out the yearly cost of owning a car, including COE depreciation, financing and running costs
• Estimate the cost of a child in the first years and list the government support you can claim
• Rank competing goals with a written method and produce one funded plan

Syllabus

Module 1: Give every goal a target, a date and a monthly amount

Turn vague plans into goals with a target amount, a date and a monthly saving figure, and track each one in its own pot.

• 1.1 A goal needs three numbers before you can plan it
• 1.2 Set targets for goals whose price keeps moving
• 1.3 When saving returns change the monthly figure
• 1.4 Build your goals sheet

Module 2: Keep each goal's money where its date can tolerate

Match where you keep each goal's savings to when you need the money, using savings accounts, fixed deposits, T-bills, SSBs and investments.

• 2.1 Your time horizon decides how much risk a goal can take
• 2.2 Savings accounts, fixed deposits, T-bills and SSBs compared
• 2.3 When investing makes sense for a goal, and when it does not
• 2.4 Assign each goal a home

Module 3: Plan a wedding you can pay for

Build a wedding budget that separates fixed and per-guest costs, estimates ang bao realistically, and leaves the couple with savings intact after the day.

• 3.1 What a Singapore wedding costs, line by line
• 3.2 Ang bao maths: what comes back and when
• 3.3 Cut the budget without cutting what matters to you
• 3.4 Build your wedding budget and savings plan

Module 4: Plan your home downpayment in cash and CPF

Work out how much of a home's upfront cost must be paid in cash and how much CPF can cover, and plan the cash portion as a dated goal.

• 4.1 Everything you pay before you collect the keys
• 4.2 Which parts must be cash and which CPF can pay
• 4.3 The trade-off of using CPF for your home
• 4.4 Build your downpayment plan

Module 5: Work out what a car really costs you each year

Price a car the way it actually costs you: COE and depreciation, financing, and running costs, then compare the yearly total with the alternatives.

• 5.1 How COE works and why it dominates the price
• 5.2 Depreciation is the biggest cost you never see on a bill
• 5.3 Financing and running costs add up faster than the instalment
• 5.4 Build a car versus no-car comparison

Module 6: Plan for a child and the support you can claim

Estimate the costs of a child in the first years, list the government support available, and plan both into your budget and goals.

• 6.1 What a child costs in the first five years
• 6.2 Baby Bonus, the CDA and other support
• 6.3 Use the CDA match without straining the budget
• 6.4 Build a child's first-years budget

Module 7: Fund further studies without wrecking your other goals

Price a course or degree including lost income, and compare ways to fund it: SkillsFuture Credit, employer sponsorship, loans and your own savings.

• 7.1 The full cost of a course is fees plus lost income
• 7.2 SkillsFuture Credit, subsidies and what they cover
• 7.3 Employer sponsorship and bonds, read before you sign
• 7.4 Build your study funding plan

Module 8: Choose which goal comes first when they compete

Rank goals that compete for the same money using a written method, then produce one plan with a monthly amount for each goal that your budget can carry.

• 8.1 Why every goal cannot be first
• 8.2 A ranking method for competing goals
• 8.3 Sequence goals instead of splitting them
• 8.4 Produce your funded goals plan

Frequently asked questions

How long does the course take?

About eight hours across eight modules, including the exercises. You can take the goal modules that apply to you in any order after modules 1 and 2.

Do I need to be planning all four goals?

No. Most people have two or three. Modules 1, 2 and 8 apply to any goal, and you can skip the worked plans that do not fit your life.

How is this different from Property & Mortgages?

This course plans the savings for a home downpayment as one goal among several. Property & Mortgages covers the rules, loans and buying process in depth.

Is this financial advice?

No. The course is education. It teaches how to plan and compare options, and never tells you which product to buy. Rates, grants and rules change, so check official sources before deciding, and speak to a licensed financial adviser for advice on your own situation.

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