Sunday, July 3, 2016

Up, up, up and away

Been a furry of news these 2 weeks:

Singapore car park rates up $0.10 to $0.20, season parking up $15 to $25

Malls, office buildings set to charge higher parking fees

Cab firms hit by higher operating licence fees

Electricity tariffs to rise by 4.3%

Found a picture that adequately describes this:

I guess the most direct impact would be those driving cars (3 of the news pertains to car park charges). However, there would definitely knock-on effect to businesses - transportation costs etc. Rising costs would eventually be passed on back to the end-consumers.

There's a limit to how much expenses we can save (short of being a hermit) - look to ways to increase income to cope with the rising costs.

(1) Increase salary (easier stated than done sometimes)
(2) Start a 2nd line of income (part-time tuition maybe?)
(3) Passive income (what I am trying to do) - dividends, rental etc

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