HC Tang

Sharing my experience & learning. Thank you for your sharing and upvote:)

HC Tang

Financial Enthusiast, Budgeting at The Society

587Upvotes

About

Sharing my experience & learning. Thank you for your sharing and upvote:)

Credentials

Financial Enthusiast, Budgeting at The Society

HC Tang

Financial Enthusiast, Budgeting at The Society

587Upvotes
  • Answers (465)
  • Questions (1)
  • Reviews (21)

Career

Family

Lifestyle

I'll spend 10 to 20% upgrading myself to earn more in the future. I'll probably use 5% to pamper myself if there's some place i really wanna go or something I really want. Balance save it for current or future investment. There are too many ways to spend $ but limited ways to invest good for future. Best to delay gratification than regret later.

Insurance

HC Tang
HC Tang,
Level 8. Wizard
Answered 4d ago
I'm an agent too. πŸ˜‚

Savings

Credit Card

It's quite a complex games depends on your spending nature, monthly spending amount , and the card min spending and cash back category caps. As each card has very refined T&C, exclusion clause. To find the best cash back card , you need to know your spending. 1) Find the last 2 months all the credit card bill online , download them to CSV format and open in Excel. Next group each transaction according to category like online shopping , dining , travel and transport and sum each category total. Note on the monthly total spend. 2) With that you will know your monthly total spend to see if you can hit the credit card min spend for cash back, total of each category (online shopping , dining , travel and transport). 3) Next go to singsaver , GoBear or Moneysmart to check the best cash back card , then go to each card website to check the details T&C , to see if your figure in (2) is able to meet the card T&C to get the cash back and possible cash back amount. If you're willing to do the above 3 steps , you'll be able to find the best cash back suited for your lifestyle. If the deals no good , suggest to try milescard instead to get miles for travel πŸ˜ƒ

Credit Card

SCB Unlimited Cashback Card

AMEX True Cashback Card

Quite true for the 4 card between 1.5 to 1.6%, but pretty low these days with no string attached. For the Gynae and delivery fee, I recommend another. HSBC Advance cc. Above 2.8k spending get 2.5% + bonus cash back. Below 2.8k spending get 1.5% https://www.hsbc.com.sg/credit-cards/products/advance/ Remember to apply via singsaver for more deals and do check out the T&C on the above links for more details and exclusion. I check that so far medical spending is ok. Cheers

Savings

Electricity Market

I did a comprehensive analyst of all the plans and offers. I discover that : 1) SP rate fluctuate at 0.24 to 0.28 in the last 3 years each quarter. 2) All the plans offer , best deal is lock in 2 years fix rate. This is because of the other plan mix with reason #1, still doesn't offer the best safe deal for the next 2 years. Eg. A) Discount off tariff , is based on new rate and discount a bit. If the new rate is higher than current but a sum , this is not worth it anymore compare to fix rate for 2 years. B) Peak / off peak rate : Will need to spend $40++ and above to install a smart device to measure the peak / off peak rate. Initial investment too high and would be hard to maintain use more during off peak and less during peak due to its definition of peak and off peak and we surely use both and harder to restrain self use during peak. This the best is : FIX rate plan for 2 years. Retailers with best review is : OHM and Geneco. See unbiased Seedly existing user review at : https://seedly.sg/reviews/electricity-market See my review of OHM at : https://seedly.sg/reviews/electricity-market/ohm-electricity?rid=1915&utmsource=reviewshare&utm_medium=internal Like or agree with my review? Please use my referral code to sign up at : https://ohm.sg/price-plans-select that we both get $20 off: OHMREF124252

P2P Lending

Investments

SeedlyTV EP07

Overtime as you work and save, you'll have more capital. Meanwhile, the highest lowest risk highest returns Investment you can do is: Sign up for one or few class in your field with exam that gives you a professional body recognize certificate. Combine with skillfuture $500 credits if you have yet to use. Google all the job boards, see the next level jobs of what you do and the salary and look for the certificate that needed, usually those with professional bodies and exam with membership that needs to maintain. With that , you upkills and can gain higher pay employment that you get to enjoy for long, plus increase incomes means able to save more to invest in the future. That would be the best investment with the highest returns and lowest risk! Cheers πŸ˜ƒπŸ‘Œ

Credit Card

General

It really depends if one can handle and remember. I used to have at least 1 to 2 cards from all the banks, total more than 30 cards for the last 10 years! :P It's a mess to remember the bills to pay, when will they bill the annual fees etc. The reason for so many is because I like to get every possible deals possible whenver possible. End up very messy and hard to maintain. On the other hand, 1 or 2 cards helps you to focus your strategry of Cashback or Miles. As each games / camp has it's strategy of min spending and cconditions to follow. Seach seedly blog and seedly group facebook on how to hack each games or feel free to ask me more :) Answer to your question: So the number of cards one should own : 1 to 2 or As much as you want! (haha .. i know it seems like I'm not answering your questions, because to me is the same) Alternative way: Each bank, login to their iBanking, setup the reminder via email and sms so they will remind you when bill comes and you just pay each bank/card when you receive each reminder. Only 1 rule to follow to avoid late payment penalties: After you spend, just use your phone banking app to pay the credit card the amount you spend or a bit more immediately, or the full amount if you know roughly how much you will spend on the card monthly. This will help avoid forgetting bills payment / overdue interest and late payment penalties. Annual Fee charges ? How ? As annul fee comes, you can see in your bill and always call the bank to waive, if they don't just tell the hotline officer nicely that you really like that card and would be nice if they can help to waive the annual fee. If they are not willing, then just cancel the card. So no annual fees will be leavied on you. Thanks for reading so much for this long answer, if you stil wish to know more, read on for the Bonus: :p Up Your Game Hack: Play the game to get new card gift / cashback deals hack: This is my personal secret methods that i use, I'm gonna share it for the first time...drum rolll please :P hahahahaha Use your smartphone use the note apps or any of the note apps on App / Play store and create a page where you can lock, write down all your credit card details, especially the card activation date, cancellations date. This is to make sure you know what you have, and actively cancel these cards when you no longer need them, and note down the cancellations date for the later game. Whenever you see online be it on Singsaver, Gobear or on the street the banks promoting their cards, if you had it before, if you had it more than 1 year from the cancellation date, you'll be qualify for the higher tier welcomes gifts such as 80 / 120 cash back (except if the terms says "new to bank" then we'll not qualify). With that you can repeat this cycle to get freebies from the bank for applying their card! :) Finally: I know it seems like a lot of work to spend and pay immediately. To save the effort, you just pay the total amount you estimate you'll spend on the card monthly in advanced. If you didn't spend that much , your next month bill is prepaid in advance! So just adjust back next month and deploy the same strategy! There you go, hope this sharing benefits you! :) Cheers!

PFF Panel 2

Loans

Investments

Seedly PFF 2019

No. Eg. Funding Society CMS license: https://help.fundingsocieties.com/articles/700585-our-capital-markets-services-license-cms Their mitigations: https://help.fundingsocieties.com/articles/700468-understanding-risks-involved-in-p2p-lending At the end, it is still a high risk investment. See seedly share of p2p risk level: https://blog.seedly.sg/investment-product-short-medium-long-term/ Finally, some P2P providers review: https://blog.seedly.sg/p2p-comparison/ Check out current investor unbiased review here: https://seedly.sg/reviews/p2p-lending

General

Https://fundingsocieties.com/sign-up-investor?referral=j7by735z

SeedlyTV EP06

CPF

I believe you mean after salary paid then employer pay to our CPF account. According to CPF: Empolyer must contribute our CPF by end of the month with a grace period of 14 days to pay it. If the 14th day falls on a Saturday, Sunday or public holiday, employer can pay by the next working day. Eg. For May 2019 salary, if you receive salary by trhe first 7 days of the June, then your employer has up to the 14th June to contribute to your CPF account. Otherwise, you can write in / call CPF to lodge a complain. Source: https://www.mom.gov.sg/employment-practices/central-provident-fund/employers-contributions
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