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Lynette Faith

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Lynette Faith

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Lynette Faith

  • Answers (9)
  • Questions (0)
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Investments

How to invest in crude oil in singapore?
Lynette Faith
Lynette Faith
Level 3. Wonderkid
Answered on 21 Apr 2020
You can buy/sell futures, but it is a leveraged product and I would not recommend newbies to do it. Phillip Futures offer futures trading in SG.
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Investments

SG Budget Babe

Commodities

Gold and Silver. Are precious metal commodities good to invest on? What are your thoughts?
Lynette Faith
Lynette Faith
Level 3. Wonderkid
Answered on 02 Dec 2019
Never invest in physical gold or silver. They come at a high cost(storage, as well as fees). If you feel that they would be a good balance to your portfolio, you can look at buying gold ETF. They are lower in risk than futures and would work for long term investments. They provide a hedge and usually do well when during recessions so you can definitely use them as a part of your portfolio.
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Savings

Family

Lifestyle

General

SG Budget Babe

This question is for parents. Do you plan to receive monthly allowance from your kids when they start work? Or will this practice become increasingly uncommon?
Lynette Faith
Lynette Faith
Level 3. Wonderkid
Answered on 02 Dec 2019
I currently have a 1yo child and my parents are nearing 60. After having a family of my own, I feel a huge financial responsibility to provide for my parents and my child as she grows. As such, I believe the best gift I can give to my child is to not burden her in the future and hope to achieve financial stability for me and my husband without having our kids support us.
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SG Budget Babe

HDB BTO

Resale HDB

How do you budget for a home in Singapore?
Lynette Faith
Lynette Faith
Level 3. Wonderkid
Answered on 02 Dec 2019
Many new home buyers start their home search by going on one of the property portals and start browsing according to what they want. My advice is to start with what you can afford. Take note of how much CPF money and cash you have so that you know what you can afford. Then go to a bank to get an Approval in principal to find out how much loan you can get. With this, it will help you narrow down your search to look at the homes you can afford. Remember to also set aside budget for Reno and furnishing!
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SG Budget Babe

Family

Lifestyle

Where can i find the best deals for my newborn child?
Lynette Faith
Lynette Faith
Level 3. Wonderkid
Answered on 02 Dec 2019
As a mum of a 1 year old, I would say Carousell and hand me downs! Kids outgrow many things within months and because of this, you'd find many good condition cots, strollers and toys at a steal. Diapers wise, it really depends on the brand your child is suitable with and then stock up in bulk during baby fairs and online sales. Qoo10, shopee and redmart do have some diaper sales from time to time. Make use of coupons and cashback via shopback as well!
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SG Budget Babe

Family

Credit Cards

At what age should I consider getting my son his own credit card/ a supplementary card?
Lynette Faith
Lynette Faith
Level 3. Wonderkid
Answered on 02 Dec 2019
I'm going to say NEVER! As far as financial literacy goes, one should only get a credit card when they qualify for it. So I'd say don't inculcate the habit that the child is entitled to a credit card just because their parents can afford it.
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Miles

Cashback

SG Budget Babe

MileLion

Credit Cards

Should I get a Miles or Cashback card? What are some factors I should be considering?
Lynette Faith
Lynette Faith
Level 3. Wonderkid
Answered on 02 Dec 2019
Cashback is a no brainer! Unless you are really meticulous about collecting miles and go into the details of how to redeem them, cashback is always better. Don't forget that many miles card also come with high annual fees so that they can then reward you with "free" miles.
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SG Budget Babe

Property

Should I engage a Contractor or Interior Designer to renovate my flat?
Lynette Faith
Lynette Faith
Level 3. Wonderkid
Answered on 02 Dec 2019
ID provides design services and oversee the quality of work for you... of course at a higher price. It really depends on your priority(cost, design,quality, timelibe). If you only need minor renovation, going with a trusted contractor recommended by people you know is the way to go. If you want design, have spare cash and wants someone to oversee the Reno, go for ID!
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Level 3. Wonderkid
31PointsGoal 40
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