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Hwee Kian

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Hwee Kian

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Hwee Kian

  • Answers (193)
  • Questions (4)
  • Reviews (7)

MileLion

Wedding

SG Budget Babe

Miles

Best ways to earn Miles through weddings? How to not overspend?
Hwee Kian
Hwee Kian
Level 7. Grand Master
Answered on 24 Dec 2019
I think there are 2 ways that you can explore earning miles - 1. Sign up for new cards where the banks usually offer sign up mile bonuses 2. Pay for your wedding bills in advance, i.e. advance payments, most hotels would accept such arrangement - this will allow you to maximize the benefits of what you could earn either miles or cashback. Never go all out, while it seems like wedding is an event for the 2 of you, in actual fact it's an event for the rest of them, your invitees. Don't leverage/borrow/get loan just for your wedding. The day after your wedding - everything becomes a norm. :)
šŸ‘ 0

Cashback

Rebates

SG Budget Babe

Undergraduate

Credit Cards

I'm thinking of getting a credit card as a student, what are my options?
Hwee Kian
Hwee Kian
Level 7. Grand Master
Answered on 24 Dec 2019
For Maybank eVibes, it's unlimited 1% flat cashback so it's really the best overall. I'll probably deem CIMB AWSM to be the runner up where it offers 1% rebate on dining, entertainment, online & telco.
šŸ‘ 0

Loans

OCBC

POSB

Education

SG Budget Babe

Education loan (overseas), 60k. Possible to take a personal loan instead?
Hwee Kian
Hwee Kian
Level 7. Grand Master
Answered on 24 Dec 2019
Hi, it's certainly not worth getting a personal loan, as the interest is definitely higher. Having said so, do note that the interest rate offered to you by the bank is based on your personal credit and income profile if you're looking at personal loan, i.e. you will need to have income to be eligible for personal loan.
šŸ‘ 0

SG Budget Babe

Savings

UOB One Account

Savings Accounts

Which bank account will you recommend with good interest rates?
Hwee Kian
Hwee Kian
Level 7. Grand Master
Answered on 24 Dec 2019
I think if it's in UOB One and you haven't hit 75k limit, then it's a good choice you make. I don't think there's other savings account that are as compelling as UOB One in terms of interest earned.
šŸ‘ 0

SG Budget Babe

Healthcare

Family

What kind of support and subsidies are there for kidney dialysis patients?
Hwee Kian
Hwee Kian
Level 7. Grand Master
Answered on 24 Dec 2019
Hi Anon, I'm sorry but I can't advise much, however I have tried to do a search and below link provides a comprehensive overview in terms of costing and options available. Hope it helps! https://renalteam.org/en/renalteam-blog/cost-of-dialysis-treatment-in-singapore/
šŸ‘ 0

SG Budget Babe

HDB BTO

Wedding

What's an ideal savings range to hit before key milestones such as buying a house, wedding etc?
Hwee Kian
Hwee Kian
Level 7. Grand Master
Answered on 24 Dec 2019
First of all, it's important isolate each big ticket item, instead of lumping them together to identify how much in savings is required. Housing - Depends on what kind of flat you're getting, your income to debt ratio, etc. So if you and your other half are salaried worker, then getting a HDB should not be a problem since upfront cash required is minimal given that you would be tapping on CPF. Wedding - Budget accordingly. On average, I reckon $10 to $12k - don't forget that wedding banquet you should "recoup" some from angbaos, so always give a buffer of "how much you are willing to lose per table". $10 to $12k because these include items like bridal package, proposal ring, wedding bands, videographer just to name a few. All the best!
šŸ‘ 0

SG Budget Babe

Family

How to manage family finances with two children but both parents are working full time?
Hwee Kian
Hwee Kian
Level 7. Grand Master
Answered on 24 Dec 2019
I think you need to understand the costs of having a helper, which from ballpark estimation it's about $12k a year, i.e. around $1k per month. So if this figure is what your and your husband can afford, then by all means do it to lessen your stress. I think as a working mum, it's extremely tiring - so the available options are far and few, i.e. grandparents take care, get a helper, or infant care. So please consider the options well with your husband and then make the decision together. All the best.
šŸ‘ 0

Cashback

SG Budget Babe

Citi SMRT Card

Credit Cards

How to redeem Citi smrt dollars to cash back?
Hwee Kian
Hwee Kian
Level 7. Grand Master
Answered on 24 Dec 2019
You can redeem SMRT$ for cash rebate instantly via SMS. Redemption Amount SMS Keyword SMRT$ Required $5 cash rebate SMRT5 5 $10 cash rebate SMRT10 10 SMS to 72484 RWDS space Last 4 Digits Of Your Cardnumber space SMRT10 Example. RWDS space 1234 space SMRT10
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Lifestyle

Family

Retirement

SG Budget Babe

Insurance

What is the best way to give fiscally irresponsible parents allowance?
Hwee Kian
Hwee Kian
Level 7. Grand Master
Answered on 24 Dec 2019
I think CPF top up is ideal since you mentioned "fiscally irresponsible parents". I would think that it's important to make sure there's forced savings for them, so that they don't anyhow spend away the allowances provided by you. Furthermore, CPF RA provides 4 to 6% interest, if one's combined CPF has not hit $30k, the interest earned would be 6%. You might want to consider this avenue.
šŸ‘ 0

General

SG Budget Babe

What is the ratio of family contribution between your spouse and you? And how do you determine that ratio?
Hwee Kian
Hwee Kian
Level 7. Grand Master
Answered on 24 Dec 2019
I think it largely depends on earned income from each side, then determine the ratio (can be 50:50 if salary are about the same) accordingly. These ratioed amount can then be contributed to a joint account in which the amount is mainly used to cover the expenses of the child or family expenses.
šŸ‘ 0
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