facebook[Plus Hour Campaign] Quiz 2: What are some of the things you can do to increase your savings? - Seedly

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Edited 27 Sep 2022

Saving Hacks

[Plus Hour Campaign] Quiz 2: What are some of the things you can do to increase your savings?

Answer the questions below and stand a chance to win a Dyson Supersonic worth $649!

Q1: What is the total interest you can earn with Citi Plus?

A) 1.85% p.a.

B) 12.3% p.a.

C) 2.8% p.a.

Q2: Which of the following does not give you bonus interest on your savings with Citi Plus?

A) Starting a new business

B) Taking a home loan

C) Spending on your Citi Cash Back+ Mastercard®

Q3: Which of the following are features you can find in the Citi Mobile App?

A) The Citi Interest Booster Account Tracker

B) In-app chat feature

C) Both A and B

Q4: Cybersecurity is a burning topic. Which of the below is NOT a kind of cybersecurity threat?

A) Phishing

B) Drop shipping

C) Malware

Q5: Open Ended Question -

What are some of the things you can do to increase your savings?

The winner will be chosen based on:

i. highest number of correct answers on the multiple-choice questions; and

ii. most insightful and/or informative answer in the written format.

Good luck! ✨

For more info about the upcoming quiz timings and prizes, visit here: https://bit.ly/3fkHrXN

This campaign is brought to you by Seedly and Citi Plus.

(https://seedly.sg/reviews/savings-accounts/citi...)

Discussion (111)

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1.C

2.A

3.C

4.B

1)Set a savings goal

First, decide what to save for. name your goal, would help to reach it faster. If you new to saving, try starting with a small goal.

Even if just saving for a rainy day, more likely to succeed if do have a goal amount in mind

2) Maximizing income

Getting a side hustle will help, it can be food delivery, grab driver, writing for blog etc

If you do own a property with empty room, consider to rent it out for extra income.

3)Minimizing expenses

Set a weekly / monthly monthly budget, and try to not spend over the budget.

Track your expenses you may be surprised at how much you’ve spent on certain items, but this gives you a good chance to see just where adjustments are needed going forward.

Always ask yourself “ How much do I use this?

Do I really need this?Can I live without this?”

4)Growing saving

Use a high interest rate saving account

It might be difficult to compare each savings account at different bank websites, but the goods news is, you’re able to get all savings account information in Seedly’s site

https://seedly.sg/reviews/savings-accounts/?utm...

So did some comparison and switch to the one suite you most of needed.

Put some money for long term investment.

5)Track progress

It is important to review and track you progress regularly, can be doing this every month / every 3 months. So that you can act and adjust accordingly when there is unforeseen circumstances.Or perhaps you find a way to save more.

6)Pro tips

Saving and making you money more sense is not difficult. There is lots of pro tips and comparison shared in seedly website, which making it easier for you. It is important for you to stay up to date for latest” lobang “.

  1. C
  2. A
  3. C
  4. B
  5. Reduce unecessary spending, invest within your personal means, having a high yield saving's account (e.g. OCBC 360, DBS multiplier account), use credit cards which suits your spending (in order to earn the most ideal cashback rates or miles points) and insure yourself (medical, critical illness and life insurance).
  1. C
  2. A
  3. C
  4. B
  5. there are many ways I do to increase my savings. Once my pay comes in, I set aside a percentage of salary in a high yield savings account (to build my emergency funds).

Investing:

I like to set aside some funds to safe vehicles like S&P 500, Singapore saving bonds and T-bills. Placing my money here, I know I can sleeep well for the night 😛

when I have extra cash on hand, I would then invest in stocks which I'm comfortable to lose

Daily:

needs vs wants. For big ticket item, I would usually give myself time to consider If it's worth the price. time is great to avoid implusive purchase.

I use credit cards for everything! I basically don't bring cash around ooops because it gives me cash back, miles and I can save further for further purchase. Maximize every penny 😛

telegram app & Facebook pages - basically internet is my best friend to search for discount codes or voucher for any purchases. little amounts builds up in no time.

i would eat home most of the time, make my coffeee and make my own cheese friends. such effort could save us some $ over time.

Insurance

lastly, I buy insurance to safeguard myself. Health is wealth really. Nobody knows what will happen (touchwood) and I would like to think insurance helps to safeguard me finally and save me $$ in times where I need any medical assistance.

If you read till this point, thank you for reading! 🌪🌈

  1. C
  2. A
  3. C
  4. B
  5. lower my spending, invest in ETFS/REITS for dividends, earn extra cash with...

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