facebookWhat's a suggested way to divide up the $600 solidarity budget money? Should I invest it or keep it in a high yield bank account, or use a small portion for living expenses or? What will you do? - Seedly

Anonymous

14 Apr 2020

SeedlyTV

What's a suggested way to divide up the $600 solidarity budget money? Should I invest it or keep it in a high yield bank account, or use a small portion for living expenses or? What will you do?

27 yo this year.
Currently working part time as an Essential Worker.
Have a JUMPSTART account with SC.
Haven’t max out 20k.
Only at 11k$

SeedlyTV S2E01

Discussion (4)

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Han Jinyuan Larry

14 Apr 2020

SwimSafer 2.0 Instructor & Assessor at SWIMWITHUS

If you have outstanding credit card, you could consider the $600/- to clear this debt.

Can also reduce the interest being charge for outstanding balance.

Reduction can improve your Credit Score with Credit Bureau Singapore.

Pang Zhe Liang

14 Apr 2020

Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)

I have a simple principle when it comes to managing finances - any amount that does not come from my normal course of work is always saved or invested for the future. This includes bonuses and allowances (if any).

Acccordingly, if you do not need this money immediately, then consider setting it aside for your future.

I share quality content on estate planning and financial planning here.

Colin Lim

14 Apr 2020

Financial Services Consultant at Colin Lim

This 600 is supposely for this month stay home. The govt bring the payout forward is because we gonn...

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