Ernest Yeam Wee Leong

Singapore's Lifestyle and Personal Finance blogger. Tips on www.justbeingernest.blogspot.com/

Ernest Yeam Wee Leong

32Upvotes

About

Singapore's Lifestyle and Personal Finance blogger. Tips on www.justbeingernest.blogspot.com/

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Ernest Yeam Wee Leong

32Upvotes
  • Answers (51)
  • Questions (1)
  • Reviews (0)

Lifestyle

General

Ernest Yeam Wee Leong
Ernest Yeam Wee Leong,
Level 4. Prodigy
Updated 5h ago
To stack rewards, you would need to think through how it works for the different rewards companies. The companies that can give you savings or rewards are - shopback - shopback go - burrple - entertainer - eatigo - chope - fave - favepay - grabpay - credit cards - quandoo - capitastar below is a possible stackable combination - restaurant is within capitamall and under shopback go - book table with quandoo via shopback - use burrple beyond 1 for 1 deal - pay with credit card - earn cashback from Shopback Go - earn capitastar with receipts ! i wrote an article about stacking with favepay here http://justbeingernest.blogspot.com/2017/10/fave.html
Answer image preview

SeedlyTV EP06

CPF

Ernest Yeam Wee Leong
Ernest Yeam Wee Leong,
Level 4. Prodigy
Updated 5h ago
I do it every month and the amount i transfer from OA to SA is basically the amount that is below the hundreds of my OA. eg. if my OA is $18,532, i transfer $32 from my OA to SA so that my OA looks nicer as $18,500. Cause i am looking to get a house in the near future and having money in the OA is crucial. ! !

Investments

Loans

Ernest Yeam Wee Leong
Ernest Yeam Wee Leong,
Level 4. Prodigy
Answered 22h ago
If the loans in p2p get defaulted, it means that the borrower has failed to make repayment. What happen nexts could be the platform tries to get the borrower to do partial payment or persuade them to make repayment at a longer period. if the company does not pay, the platform may get a debt collector to make the borrower pay. End of the day if the borrower really has no money and declares bankruptcy, then your money is gone. Experienced something similar of a company default and wrote my reviews about it here. http://justbeingernest.blogspot.com/2017/07/moolahsense.html

Retirement

CPF

Ernest Yeam Wee Leong
Ernest Yeam Wee Leong,
Level 4. Prodigy
Answered 23h ago
SRS can be used for investment. It can also help to reduce tax. When you start making income you can start contributing it to reduce tax. Start an account first and when the time come you can start using it.

Retirement

Investments

CPF

Family

Savings

Bank Account

Ernest Yeam Wee Leong
Ernest Yeam Wee Leong,
Level 4. Prodigy
Answered 23h ago
Congrats on making the effort to know more about finance and helping to plan for your mum. Below is an analogy in terms of soccer team. Firstly you will want to build your goalkeeper first which is insurance Secondly to build on your defences which is emergency money. Thirdly your midfielders are your savings account, get those that give high interest rates. Fourthly your strikers are investments, low risk first before high risk investments. Fifthly is the manager which is you on planning what to do next at every quarter Lastly is the fans which are people that you can count on for support and guidance like the seedly community.

YouTrip

General

Ernest Yeam Wee Leong
Ernest Yeam Wee Leong,
Level 4. Prodigy
Updated 23h ago
Yes you can. A similar scenario is my friend wanted to borrow my youtrip card overseas as his youtrip card was expected to arrive only after he returned. So i lent him my card and told him to login to my youtrip account to do the topup to the youtrip card. So whenever he needed to top up the youtrip card while overseas, he would whatsapp me first, did the login on his phone and when i received the OTP, i would whatsapp him the OTP then he was able to login to my account on his phone overseas. You can read more about my reviews and feedback of Youtrip here http://justbeingernest.blogspot.com/2018/11/Youtrip.html

SeedlyTV EP06

CPF

Ernest Yeam Wee Leong
Ernest Yeam Wee Leong,
Level 4. Prodigy
Updated 5h ago
I do it every month and the amount i transfer from OA to SA is basically the amount that is below the hundreds of my OA. eg. if my OA is $18,532, i transfer $32 from my OA to SA so that my OA looks nicer as $18,500. Cause i am looking to get a house in the near future and having money in the OA is crucial. ! !
Answer image preview

P2P Lending

CoAssets

Ernest Yeam Wee Leong
Ernest Yeam Wee Leong,
Level 4. Prodigy
Updated 2w ago
Based on the scenarios that you mentioned above, i will be able to answer you since i have invested via coassets before and faced the same situations as you. 1) if there is a project which you funded but eventually the project is not fully funded, you will receive a refund for it back into your coassets account. you can decide if you want to withdraw or leave it there for other investment projects. 2) regarding the rates, it will be best to clarify with the coassets staff directly. The project details will indicate specifically the amount you will receive based on what you invested. Attached is my transaction history in coassets for reference !
Answer image preview

Investments

REITs

Ernest Yeam Wee Leong
Ernest Yeam Wee Leong,
Level 4. Prodigy
Updated 2w ago
If you are talking about REITS and its risks, it means you are looking at the risk of stocks and also the risk of real estate investment. For reits, there is - vacancy rate - weighted lease average expiry - cost of debts - tenant concentration risk, - country risk - geographical risk - industry risk - gearing risk - political risk - legal risk if you are keen to read more about company reviews and finance, do check out my blog at http://justbeingernest.blogspot.com/

Stocks

Investments

Ernest Yeam Wee Leong
Ernest Yeam Wee Leong,
Level 4. Prodigy
Updated 2w ago
The straight forward answer is that stocks are subjected to pricing by the free market which allow people to buy and sell based on what they agree. If the price set by seller is same as the price set by buyer, then the transaction will take place. hence if the market feels that the price of the stock should be low and both the buyers and sellers think the same, then the stock price will go down and vice versa. on the other hand, bonds is more like a debt that does not change value over time. If the bank were to lend you money at 2% interest rates per annual, one year later, the bank is to receive principal and 2% interest. there is no one that can affect the interest rates as it was agreed at the beginning by both parties. hence bonds are less volatile than bonds. if you are keen to read more about company reviews and finance, do check out my blog at http://justbeingernest.blogspot.com/
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Level 4. Prodigy
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