This is a really good question. I am thankful that my parents are financially educated enough to write their will a few years ago (and make me the executor when I just turned 21). You can convince them with the following benefits of writing a will: - It helps them with their retirement planning - most ppl don't know how much liquid assets they actually own and the money is locked up in the house. Writing a will means taking stock of whether they have enough for their retirement. - It prevents any 'lost' money upon death. Every year, a lot of inactive accounts get frozen by banks. Who would want their hard earned money to be taken away after death? -While horrer stories of families fighting over property may be less likely with smaller families, it is still better to be safe

Continue with status quo - given the current environment its still quite easy to generate > 2% interest. So you would be earning on the loan!

If you like to travel to countries outside of SEA then I would suggest a miles card for now. However, as others have suggested trying to hit the min spend for the UOB one card is good - as phone bills, insurance and taxes are all counted.

I highly doubt it will not be automatically terminated - banks are not informed when you do pass away. For bank accounts the executor will probably need to approach the bank so I assume credit cards work the same way. However, you don't normally include your credit cards in your will so I assume it will just be considered as bad debt unless someone claims it. Your miles/cashback is probably worth less than the bill due so I think it should just be ignored.

I think starting at primary school will be good - or when they start having an allowance. Before that you can bring them to the bank to deposit their ang pow money and explain what a bank does. But in terms of savings, time value of money it would be good to wait till primary 1. In terms of details on the financial markets I actually feel that it will also be good to expose them to it in mid primary school as well. My parents did that to me - by discussing relevant news and encouraging me to read the financial section of the straits times and business times. There are also some games available that do help to teach some useful concepts.

1) Set up an emergency fund (some recommend longer but I think 6 months of expenses is fine with no dependants and all) 2) Organise your insurance (I don't believe in like xx% should go into insurance but more on what makes you sufficiently protected) 3) Now comes the investment part! Depending on your risk appetite - spilt it into bonds and equities. Your risk appetite changes over time but to give you a gauge you can do those online assessments.

Nope I don't. I'm currently using another app to tract my spending but I don't link my accounts to it too. Despite security measures in place, its still better to be safe. Also, if you track your expenses daily there is no need to link your bank accounts.

I think getting a UOB one card is good - especially with the account! I'm thinking of getting it too. Just make sure you can hit the min spending requirement

You don't need the account to keep the card. Just note that if I'm not wrong there is a penalty if you close the account within 6 months of opening it. Also, do not that cancelling your cards may affect your credit score which may impact your loans in the future. So evaluate whether this card still fits in with your spending habits before cancelling it!

You definitely can survive - it's just a matter of whether you are making full use of your spending. Credit cards usually have cashback/miles which are essentially discounts on your spending. Though in some cases due to the min spend requirements you may end up spending more, you can still choose miles/unlimited cashback cards with no min spend.