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SG Budget Babe

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SG Budget Babe

General

I received an sms to update my account for banking purposes but I'm not sure how to. Any advice on the best and fastest way I can get help from the bank to do this?
SH
Shen Hao
Level 2. Rookie
Answered 2w ago
Call the bank account directly. Ask them about your case and get them to resolve it for you. Don't release any personal information.

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SG Budget Babe

Stocks Discussion

How do you value, see and determine which stocks are to buy and keep and which are those to buy/sell to earn some quick income? Always have this problem trying to value the stocks, thanks in advance?
Hi Shandy, I'm going to give my opinion from an income investing perspective. Key things I take into consideration are: - Does the company have a strong balance sheet? - Does the company have a track record of profitability? - Is the company having a consistent record of paying growing or steady dividends? That helps me to decide if the company is worth buying. The entry and exit prices would be based on whether the company is under valued compared to other peers. Even if a company is a decent one, I would want to get in at a fair price if possible. It's like saying that you like to drink coke, but won't pay $2 for a can at Sentosa. Dividend stocks can be keep for years if the company remains good. You'll have to monitor and review regularly. For growth stocks, this is where you probably hold them for a while and then sell off to take profit. Usually these would be in fast growing sectors like tech or healthcare, and companies here tend to be harder to value. You'll have to determine if the company is below its intrinsic value before deciding if it is good to buy or not. There is no one-size fits all answer, so tread with caution and never go all in into a single stock. That's courting disaster.

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General

SG Budget Babe

What can I do in my 20s to become a millionaire by 30?
Bjorn Ng
Bjorn Ng
Level 9. God of Wisdom
Answered on 19 Dec 2019
Great dream you have out there! Not impossible, but the road there might seem impossible. A few things off the top of my mind is to minimize your expenses, only spend what you need and not want, fully utilize all credit card & bank accounts as you can. These 2 above actually still doesn't bring you close, and I think you would have to take more risks to reach there, and for me that's investing my $ in huge growth potential companies. And the most riskiest way would of course be to start your own business, being an entreprenuer. But it would take a lot of courage and emotions (and luck) to make it out as well!

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Savings

SG Budget Babe

Fresh Graduates

Personal Finance 101

What are some of the best expense tracker app? Also are there any expense tracking app for couples?
I’m personally using Seedly and it has been great in terms of showing all the expenses in a very clear format. However, recently the app has been logging me out every single time I close the app. Not sure if it’s some bug, hope they fix it soon. Not that I’ve heard of any tracking app for couples.

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SG Budget Babe

Insurance

Critical Illness Insurance?
Why not both? Firstly make sure you're covered for 5 X your Annual Income in the event of illness. This is your income protection and it pays you and your family should you fall ill and need to stop work and recover. I'd make sure I have a base cover of a single pay CI policy for whole of life first that adjusts for inflation. I'd pay this off in 20 years. Next, I'd top up a term policy with multi claim CI till about 65/70/75. Also because these plans make you pay throughout the policy term as well. This helps you reduce your overall premium plus still give you some recurring payouts should you be unlucky and have certain conditions haunt you even after you recover once or twice.

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5

Lifestyle

SG Budget Babe

Any recommended mobile Apps to keep track of one's rewards and vouchers?
Lee John
Lee John
Level 7. Grand Master
Answered on 18 Aug 2020
Personally using Google Sheet. There's too many different kinds of offerings and it's hard to just use 1 app to aggregate all the info.

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Lifestyle

SG Budget Babe

Apple

General

Should I get a MacBook pro 16 inches or the 2020 13 inches model?
Marcus
Marcus, Founder at manualmode
Level 4. Prodigy
Answered on 15 Aug 2020
Probably the 13-inch then unless u need the GPU + better thermal performance for video editing, heavy duty coding, gaming (probably should get a windows if u're gaming). Even the airpods promo sale now is an additional $100 only. So HAHAH, u get cheap laptop + good sound.

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Investments

Property

Loans

Retirement

CPF

Savings

Family

SG Budget Babe

MileLion

What are the significant expenses ahead that I should start planning for, as a young guy who is getting married soon? Wedding, housing, car, kids, parents etc. How are you planning for retirement?
Choon Yuan Chan
Choon Yuan Chan
Level 9. God of Wisdom
Answered on 24 Dec 2019
You name most of them already. As for the planning for retirement part, i am actively expanding my knowledge on investing so that i can improve the rate of returns on my savings by being able to invest effectively and efficiently

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Stocks Discussion

Investments

SG Budget Babe

Family

You have a full time job and a family. How do you squeeze out time for yourself to learn investing?
Bjorn Ng
Bjorn Ng
Level 9. God of Wisdom
Answered on 08 Dec 2019
Everyone has different priorities in different stage in life, and that's totally understandable. For me, as simple as it might sound, we always have a choice in what we want to do. It's all about "allocating" the priorities. To answer your question, I choose to read updates from my investing community rather than general market news (for eg). It's about choosing which "makes more sense" to you. It's never easy, and sacrifices have to be made sometimes, but at the end of the day, we all made the best choice we see fit at any point in time :)

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Investments

Family

SG Budget Babe

Savings

Savings Accounts

How do you convince your parents that money in the savings account is just rotting away and should be taken out to invest?
Rais M
Rais M
Level 7. Grand Master
Answered on 26 Feb 2020
My parents are not that young anymore and I do not want them to take or feel that they are at risk when it comes to investment. After much consideration, I decided not to convince them to invest their money, but rather, I will invest more of my money to support them somehow. I am their retirement plan.

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