Wow, the massive S$48 billion Resilience Budget has been announced by the Singapore Government. This adds on to the S$6.4 billion Unity Budget announced last month in Feb 2020. In-principle approval has been provided by the President to draw up to S$17 billion from Singapore’s past reserves to fund part of the Resilience Budget.
I’m not going to analyse the Resilience Budget because more established financial websites are going to do a much better job with it. I’m just impressed by how quickly the Singapore Government responded to the Covid-19 virus crisis. And just how much money they are putting into the people and economy to keep all of us going.
Personally, as a corporate employee still with a job for now, the main benefit for me is the higher cash payout to my family (wife and kid). And perhaps a greater willingness for my bank to keep me employed and not retrench me. But I’m just happy that the Resilience Budget will benefit the people and businesses that need it most. They are already suffering badly from the Covid-19 virus crisis and need the support now.
In the meantime, I have just been focusing on my work. The markets have rebounded and I’m just staying on the sidelines for now. My wife’s monthly salary has been credited and my cash has been topped up more. Because she earns twice as much as me. Which is why protecting her job is such a priority for us.
On that front, my wife just got news that the major restructuring at her workplace might be delayed because of the Covid-19 virus crisis. And that she might be able to work from home instead of the office once her leave ends and she goes back to work. This has come as such a relief for us.
Firstly, my wife gets to keep her job for now. It’s important we hang onto her inflow of monthly salary income for as long as possible. It would help to relieve the stress and pressure that might come later if the Covid-19 virus crisis worsens. And one or both of us end up getting retrenched.
Secondly, my wife gets to spend more time with the baby by working from home straight away upon her return. Instead of having to spend time travelling into, working in and travelling out of the office. As a manager, she coordinates her team, manages the stakeholders and helps out with the ground work. She can do this more effectively and efficiently at home.
When there’s down time because productivity at work across companies has slowed significantly due to BCP operations, my wife can spend it taking care and playing with the baby. Just being able to be around the baby at home even while working should help her adjustment to being a working mum. It would still be a difficult transition time but hopefully we can use this work from home arrangement to better manage it.
I’m waiting for my bonus to be credited next week to top up my cash even more. It would be good if the markets can stabilise for a bit while I increase my cash balance. Gives me more time to plan ahead with my investing strategy as well. Be patient and slow down my pacing. That’s what I keep reminding myself as I position for what comes next.