Chua Wei Feng - Seedly
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Chua Wei Feng

Enjoy personal finance,

Chua Wei Feng

Operations Executive at Seedly

About

Enjoy personal finance,

Credentials

Operations Executive at Seedly

Chua Wei Feng

Operations Executive at Seedly

  • Answers (8)
  • Questions (1)
  • Reviews (2)

Seedly

Seedly is really a good finance planning application but unfortunately still doesn’t has recurring transactions feature yet. Will they have it soon?
Chua Wei Feng
Chua Wei Feng, Operations Executive at Seedly
Level 4. Prodigy
Answered on 07 Apr 2020
Hey Anon, great to hear that you're enjoying the Seedly app! That is a great suggestion and we will be forwarding it to the products team for their perusal. Do keep the feedback coming as we continually seek to improve the app for our users!
👍 4

Savings

Expenses Tracking

Expenses

Savings Accounts

What is ONE small thing you do that saves you a lot of money?
Chua Wei Feng
Chua Wei Feng, Operations Executive at Seedly
Level 4. Prodigy
Answered on 25 Feb 2020
Stock up on frozen & precooked chilled microwavable foods to ensure I never spend on food delivery!
👍 1

Savings

Personal Finance 101

Savings Accounts

How many bank accounts do you own? And for what purposes?
Chua Wei Feng
Chua Wei Feng, Operations Executive at Seedly
Level 4. Prodigy
Answered on 25 Feb 2020
1) SCB Jumpstart - savings, 2% p.a 2) DBS Multiplier - Spending and GIRO (GIRO is much faster than SCB and debit card has 3% cashback over SCB's 1% cashback, albeit with minimum spend $400). 3)CIMB Fastsaver - Initally opened for savings acc due to attractive rate of 1% p.a. Left 30cents inside after SCB launched Jumpstart Diversifying your savings might make you lose out on potentially higher interest on those hard earned savings!
👍 2

Investments

Savings

Savings Accounts

I'm looking to have a higher interest account to increase my savings. Which bank savings account should I go for?
Chua Wei Feng
Chua Wei Feng, Operations Executive at Seedly
Level 4. Prodigy
Answered on 07 Feb 2020
As a fellow individual between 18 and 26 years old, you're eligible for the SCB Jumpstart Savings Account with 2% p.a., no other conditions! I've left a review, you should check it out at https://seedly.sg/reviews/savings-accounts/standard-chartered-jumpstart
👍 2

Savings

POSB

DBS

Savings Accounts

Should I close my DBS account and open a better account? What suggestions do you guys have?
Chua Wei Feng
Chua Wei Feng, Operations Executive at Seedly
Level 4. Prodigy
Answered on 07 Feb 2020
Hi Anon, I'm also a Pre-U Student! Great that you're focusing on optimising your savings to make your money work for you, hope the content over at Seedly Reads has been useful in helping you make your decision. Currently, I have 2 bank accounts open, SCB Jumpstart and DBS Multiplier. I use DBS Multiplier as my spending account, as DBS has a lot of atms, great mobile application and fast GIRO setups. Multiplier is great as there is a fall below fee waiver for individuals below 29 years old and above 20 years old (have to call to check, im not exactly sure). I also use DBS RSP for sti etf, which combined with salary credit, allow me to obtain a better interest rate than any other savings account. I then use SCB Jumpstart as my savings account, to get 2% p.a. with absolutely no conditions whatsoever! Just park your money there and forget it! Check back on the 31st of each month to see that juicy interest credited into your account :) All the best in your personal finance journey!
👍 1

Entrepreneurship

Where is the best place to sell new phone in singapore?
Chua Wei Feng
Chua Wei Feng, Operations Executive at Seedly
Level 4. Prodigy
Answered on 07 Feb 2020
Trade in at Singtel! A friend of mine got quite a good price for his Note 9 he won from a lucky draw.
👍 1

Investments

Stocks Discussion

Education

Worst financial/investment advice you ever got?
Chua Wei Feng
Chua Wei Feng
Level 4. Prodigy
Answered on 06 Dec 2019
By an insurance agent "friend", ETF is high fees and i should DCA into an ILP instead.
👍 2

Singapore Saving Bonds (SSB)

STI ETF

Property

Investments

I'm currently putting in $100/mth into STI ETF and $1000 into SSB. I am looking at next is investing in REITS through a brokerage. Should I buy a lot or 1000 shares if I have around 1k-5k to invest?
Chua Wei Feng
Chua Wei Feng
Level 4. Prodigy
Answered on 11 Nov 2019
With brokerage charges, you will incur a high sales charge relative to your investment amount. Would be wiser to use an RSP by Poems to invest in the REIT counters you are interested in for lower sales charge.
👍 2
Level 4. Prodigy
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