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Ng Wei En

SMU Undergraduate

Ng Wei En

Bsc(Information Systems) at Singapore Management University

About

SMU Undergraduate

Credentials

Bsc(Information Systems) at Singapore Management University

Ng Wei En

Bsc(Information Systems) at Singapore Management University

  • Answers (14)
  • Questions (4)
  • Reviews (2)

Shopping

Lifestyle

Savings

Family

If you take public transport, you get 50% cashback for the first 10 transactions! Because SimplyGo rounds up your total spending on public transport each day, the 50% cashback will apply to 10 days of spending on public transport. I spent about $1.50 x 2= $3 per day on train. 10 days will amount to $30. 50% cashback will mean I get $15 back. Cashback is credited on following day. Do note you have to use Apple Pay/Android Pay to be eligble for the promo. Promo ends 31 Mar 2021.

YouTrip

Revolut

Credit Card

Grab

Multi Currency Cards

Lifestyle

Using your most bang for miles/cashback credit card to top-up your Grabpay, then using Grabpay Mastercard to top-up your Revolut or YouTrip card would be the most rewarding approach. If the merchant accepts Grabpay/Favepay, proceed to pay using these payment methods. Otherwise, if the merchant accepts cashless payment(Paypass/Paywave), use YouTrip or Revolut.

YouTrip

Revolut

Multi Currency Cards

Credit Card

- YouTrip has a simpler, no-frills, UI for a more fuss-free approach to using a multi-currency wallet. The downside, however, is that it is a one-way wallet where you can load and spend but you're not able to withdraw money out to a bank account. - Revolut, on the other hand, if used by someone whose a more experienced user, can leverage on the many functionalities like transferring out to a local/overseas bank accounts, budgeting and analytics tools, etc. Based on my experience, Revolut offers slightly more competitive FX rates too. - TLDR: 1. YouTrip - Basic one-way multi-currency wallet 2. Revolut - Two-way multi-currency wallet with budgeting, analytics, peer-to-peer payments functionalities, and more!

Lifestyle

Credit Card

Shopping

Most solutions offered would involve topping up GrabPay using a credit card followed by checking out with GrabPay /FavePay at the merchant. This triple dipping is however limited to only GrabPay or FavePay. I present to you a solution that allows you to maximise the 10%(5%+5% for Grab) cashback by using UOB One Card to top up GrabPay. First, top-up GrabPay using your UOB One Card. Next, to circumvent the GrabPay/FavePay limitation, move your GrabPay credits to a multi-currency card like YouTrip or Revolut by topping up to these cards using GrabPay Mastercard. Now you can spend your GrabPay credits through a contactless payment channel like Paywave through Youtrip or Revolut. This applies to overseas spending too as both Youtrip and Revolut support competitive wholesale FX exchange. Regardless of whether the merchant accepts Grabpay, Favepay or just simply Visa(Paywave)/Mastercard(Paypass), you're able to MINIMALLY realise the 10% cashback. For Grabpay and Favepay, you'll enjoy the benefits of triple dipping. For the rest, you'll still get 10% cashback.

Savings

Lifestyle

Hey Kenneth! I have a SecretLab Omega chair at home. Its really comfortable and the build quality is solid(The frame and casters(wheels) are super sturdy). You also have the ability to recline and lock the reclining position for a quick power nap. The armrest is also fully adjustable for height and left/right, front/back. Definitely a worthy investment!

Investments

Seedly has an article about the Temasek Bond Offer. https://blog.seedly.sg/temasek-holdings-corporate-bond-issue-subsidary-temasek-financial-iv-private-limited/ You may wish to note a bond of such quality and interest yield is usually open only to instituional investors only and usually in large denominations. This bond issue is denominated in $1000 and is easily within reach of most retail investors. You can almost think of the 2.7% interest as guaranteed given Temasek's credit rating. Also take note that you can also arbitrage your CPF OA's interest rate of 2.5% and earn an extra 0.2% if you pretty sure you won't need that sum in your OA in the next 5 years. Having said that, the bond can still be sold on SGX but its price is subjected to changes depending on interest rates.

Expenses Tracking

Savings

General

I am a huge advocate of all forms of cashless payments. Personally use Grabpay, Favepay, Visa/Mastercard through Apple Pay, Singtel Dash, Netspay. My preferred mode of cashless payment is always the one that offers the best cashback or rebate for that particular merchant: For example, -Grabpay offers new promotions every month(e.g Liho, Toast Box,etc) -FavePay offers 5-10% cashback for subsequent purchases with several partnered merchants. -Netspay offers $0.50 off on Wednesdays and Fridays at campus canteens -Apple Pay provides the convenience for me to use my debit cards via a contactless method(used to have promos when Apple Pay just debuted) During the DBS Beep Beep Kaching promotion that lasted about 6 months which unfortunately ended in Sep 2018, I tried to use contactless payment as much as possible to qualify for the minimum $400 in spending via contactless payments. This was done using NetsPay at NETS-only merchants and my DBS Visa Debit Card thru Apple Pay(or Paywave) at merchants that accept credit/debit cards. I was able to earn between $40-$50 cashback per month with a minimum spending of $400 and cashback capped at $50 with spending of $500 per month. This 10% cashback comes with a condition that no cash withdrawals can be made via ATM. During this period, I withdrew cash from an alternative bank account whenever I needed cash. To answer the question, my favourite cashless form of payment is the one that rewards me the most at the time of transaction.

SeedlyTV EP04

Giveaways

StashAway - Ray Dalio MoneyOwl - Mr/Ms market Kenneth(Seedly) - LKY Autowealth - John Bogle Endowus - Jack Bogle Smartly - Ray Dalio My idol is Jim Rogers.

Seedly REITS Symposium Giveaway

REITs

Investments

Securities

Ng Wei En
Ng Wei En
Level 5. Genius
Answered on 04 May 2019
Am personally a fan of Mapletree REITs due to its superior organic growth in recent years as a result of excellent management. The best Mapletree REIT in my opinion Mapletree Commercial Trust(MCT) because of the following reasons: 1) Hybrid of both retail( Vivocity) and commercial (office spaces) sector 2) High occupancy rate ( 99.4% in Vivocity and 97.8% in MBC, both of which forms the bulk of MCT) 3) Strong properties in MCT's flagship - Vivocity . Strategic location of Vivocity and its recent upgrade at B1 as well as as addition of public library at L3 will help increase shopper traffic 4) Healthy gearing ratio of 33.1% as at 31 Mar 2019 5) Minimal single tenant properties ( Top 10 tenants contributed 25.5% of gross revenue, ranging from 2.0% to 3.7% of total gross rental revenue). This means that should a single tenant's lease be expired, the direct impact on the overall MCT portfolio is minimised. 6) Manageable lease expires ( all leases have an average commited basis of 2.9 years(sufficient buffer over 2 years which is regarded as minimum for committed tenancy)

Lifestyle

I would say within the nect decade, payments would be largely digital. All movement of $ will be tracked. Only motivation for cash payments would be to avoid detection for reasons we all know.
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