Justin Kieran Ong - Seedly
Seedly logo
Seedly logo
Ā 
Justin Kieran Ong

Justin Kieran Ong's profile is not filled up yet.

Justin Kieran Ong

About

Justin Kieran Ong's profile is not filled up yet.

Credentials

Justin Kieran Ong's credentials are not filled up yet.

Justin Kieran Ong

  • Answers (24)
  • Questions (1)
  • Reviews (0)

MileLion

Credit Cards

Is it better to sign up for credit cards online or at the banks itself?
Justin Kieran Ong
Justin Kieran Ong
Level 4. Prodigy
Answered on 23 Mar 2020
To my knowledge there is no difference other than the customer service / experience. So far, my experience with dbs for online has been fine. Got my card within 2 weeks of submitting the documents/cpf. For uob, I recommend going to the branch as their system could not issue me my card. Even at the branch, they could not find any records of my online application.
šŸ‘ 0

Shopping

ShopBack GO

Lifestyle

Anyone have the same issue as me, where you use Shopback on Shopee to purchase item and your transaction is still pending for a few month?
Justin Kieran Ong
Justin Kieran Ong
Level 4. Prodigy
Answered on 22 Feb 2020
Yup. You have to wait 4 months before your cash back is confirmed. If I'm not wrong, the delay is due to shopee's return policy so in the event that you refund the transaction, you don't get the cashback either. Since it's free money for something I'm going to buy anyway, I don't mind the wait
šŸ‘ 2

SG Budget Babe

MileLion

Miles

Cashback

Credit Cards

What are some considerations that I should be taking into account when choosing a credit card to apply for?
Justin Kieran Ong
Justin Kieran Ong
Level 4. Prodigy
Updated on 21 Feb 2020
The main thing to look out for is if you can meet the minimum spend (if any). You don't want to soend more just to get that reward as it's usually not worth it. Next is whether you'd rather get cash back or miles. Of you don't travel often, cash back is probably the way to go but they usually have higher minimum spend. Last but not least is which bank do you want to get the card from. Most banks reward you if you already have an account with them. Additionally, different cards have different perks like uob has additional cash back for transactions to grab.
šŸ‘ 0

Investments

Robo-Advisors

Regular Shares Savings Plans (RSS/RSP)

Bonds

Fresh Graduates

UOB One Account

Standard Chartered JumpStart Account

As a fresh grad with no investing experience, what will be a good choice for me to begin my journey with if I'm investing $1000 a month?
Justin Kieran Ong
Justin Kieran Ong
Level 4. Prodigy
Answered on 06 Feb 2020
The best thing to do at your stage would be to gain knowledge as cliche as that sounds. If you feel you've done your reading then you'll have you consider your risk appetite. Only you will know what you're willing to risk. From low to high it would be bonds, RSP, robo advisor. Seeing as you're thinking of investing 1k per mth, you have lots of wiggle room. You could invest in all 3 conservatively so that you never loose too much but will also never gain much either. Or you could choose to invest less, say $400 into the riskiest robo portfolio and save the rest. This all links back to your risk appetite and how you try to balance it out. Personally, I only invest what I'm comfortable not having as savings. So a portion, slightly over half, goes into something safer like RSP, and the rest into the highest robo portfolio for the gains. This way, I diversify between regions and risks to make sure I don't loose too much.
šŸ‘ 0

Savings

POSB

DBS

Savings Accounts

Should I close my DBS account and open a better account? What suggestions do you guys have?
Justin Kieran Ong
Justin Kieran Ong
Level 4. Prodigy
Updated on 06 Feb 2020
I am assuming that you're talking about the DBS multiplier account due to the recent changes. Since yiyre in pre-u, you probably don't have a very high salary steam if at all. If you do, something like the posb SAYE should really help. If not something like the CMIB Fastsaver would be good as it has a base interest of around 1%. If you do have a constant salary > 2k you can consider what I did below. Though it is by no means the best choice, it was the most convinient for me. What I did was to open another account and put in any excess over 25k. This way I don't have to change my lifestyle while still earning interest on all my savings (other than having to split my spending over 2 credit cards).
šŸ‘ 0

CPF

Savings

Would you consider your total CPF amount as part of your personal net worth calculation?
Justin Kieran Ong
Justin Kieran Ong
Level 4. Prodigy
Answered on 27 Dec 2019
That depends on why you want to calculate your net worth. If you just want to see how many assets you have, then yes. If you are calculating if you have met financial goals then it would depend. As your average person that only started working and investing 2 years ago, I don't count any money that isn't instantly liquidable. My idea is that I don't want to be reliant on them for my future goals like retirement because I feel that I probably won't have as much as I would like in my cpf at that point in time. But that's just my view point.
šŸ‘ 0

Investments

REITs

How do I start investing in REITs?
Justin Kieran Ong
Justin Kieran Ong
Level 4. Prodigy
Answered on 10 Sep 2019
Just today, StashAway has a new Singapore portfolio. It has REITs now.
šŸ‘ 0

Savings

Savings Accounts

Is the OCBC 360 debit account better if my savings are below 35k?
Justin Kieran Ong
Justin Kieran Ong
Level 4. Prodigy
Answered on 05 Sep 2019
For bank accounts, you get more interest per annum depending on how many catagories you can fulfill. So you'll have to see which makes give you be most with your current lifestyle
šŸ‘ 0

DBS

Expenses Tracking

Credit Cards

What alternative to Seedly do you use to track your expenses/rewards for your DBS credit cards?
Justin Kieran Ong
Justin Kieran Ong
Level 4. Prodigy
Answered on 27 Aug 2019
For me, I just manually enter everything into the Seedly app. It's more convenient for me to enter the cost on the spot so I don't forget. I got around the 2-3 day waiting time by changing the speed required for SMS notification to $1. You won't get the notification for recurrent payment though (eg insurance, bills) so you still need one of the DBS apps to confirm every week or so.
šŸ‘ 1

Savings

DBS Altitude Visa Signature Card

DBS

Expenses Tracking

Credit Cards

Can you share how you track your credit card expenses and miles rewarded (e.g. on Excel)?
Justin Kieran Ong
Justin Kieran Ong
Level 4. Prodigy
Answered on 14 Aug 2019
As a fellow DBS CC user I feel your pain. What I'm currently doing is manually entering into the seedly app as I find it the most convenient (no need to remember and key in at home, can track immediately). I have reduced the SMS alert for my card to anything over a $1 transaction. This way I have a record of most of my CC spend on my SMS to double check. Lastly, I check the ibanking record every week as there are certain transactions that are not SMS to me (like recurring transaction for phone bills)
šŸ‘ 1
Load more questions
Level 4. Prodigy
98PointsGoal 125
27 POINTS TO LEVEL UP
Browse Rewards