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Nicholes Wong

Learnt a bit in school and decided to learn more about investments and money stuffs through Google

Nicholes Wong

Diploma in Business Management at Nanyang Polytechnic

176Upvotes

About

Learnt a bit in school and decided to learn more about investments and money stuffs through Google

Credentials

Diploma in Business Management at Nanyang Polytechnic

Nicholes Wong

Diploma in Business Management at Nanyang Polytechnic

176Upvotes
  • Answers (489)
  • Questions (0)
  • Reviews (2)

Savings

Lifestyle

Get a good savings account like Standard Chartered Jumpstart for 18 years old to 26 years old. Gives 2% interest up to 20k with no other requirements or criteria other than the age. https://www.sc.com/sg/save/savings-accounts/jumpstart/ Its ok to spend some money to enjoy your youth but dont go crazy. You must balance between enjoying the present and planning the future.

Investments

Stocks Discussion

Bank Account

Most robo advisors are pretty diversified already. You dont actually need to diversify even more with different robo advisors. Just find 1 or 2 robo advisors that you suits the most and that is good enough.

Lifestyle

Savings

Do more pushup, sit up and running everyday so can pass IPPT easier.

CPF

CPF interest is computed monthly, then compounded and credited annually to your respective accounts. CPF interest earned in 2018 will be credited to members’ CPF accounts by the end of 1 January 2019.

Ohm Energy

You can apply through their website. https://www.ohm.sg/

Credit Card

The benefit of the MasterCard is that you can get grab points from online shops that don't offer GrabPay as payment as for me I used it for Shopee. Currently UOB and Grab partner up so you can get up to 10% cashback using or top-up grab with the UOB One credit card. And you can get the 10x grab points compared to just using UOB one directly getting up to 5% cashback.

Lifestyle

Credit Card

It's not bad if you do online shopping as they haven't started the physical card. The good part is that you can use the card for online shopping that doesn't offer GrabPay. So for me, I used it for Shopee and got grabpoints for it. So if you do some sort of online shopping that doesnt offer grabpay as payment, it would be pretty good. Now UOB and Grab partner up, so you can get up to 10% cashback with UOB one credit card as well so it will be even better to topup grab wallet with UOB one credit card and then pay with grab mastercard. Up to 10% cashback and up to 10x grabpoints.

Credit Card

Bank Account

UOB One Card

UOB One

DBS Multiplier

Nicholes Wong
Nicholes Wong
Top Contributor

Top Contributor (Mar)

Level 6. Master
Updated 2w ago
I would say both have its own strength and weakness. For DBS Multiplier, you can hit actually hit salary crediting, credit card spending and investment category. If you were to do a SSB ladder, you can get the investment category part of the crediting dividends as long as they don't change the criteria. All you need to do is to buy 6 months of SSBs consecutively and make sure your CDP is connected to DBS/POSB account. This way, after the 6 months of buying SSBs, you will receive SSBs interest every month for 10 years which will count as investment category under DBS multiplier. SSB minimum amount is $500 every time so it will take you at least $3,000 but of course, you can put more if you want to. The more transactions you have with DBS, the more interest you get. But for me their credit card doesn't really suit me, they have slightly higher minimum monthly balance, an additional step which is the SSB ladder and I don't have that much transactions in the first place. For UOB one, their credit card gives cashback for most stuff although you have to spend at least $500. (not very hard if have fixed expenses that UOB one give cashback.) Their EIR or effective interest rate is only 2.44% if you have 75k in the UOB one account. They also allow 3 giro transactions instead of salary credit so a bit different as well which means if you plan to keep a big amount of money with the banks you can do both DBS multiplier and UOB one at the same time with a single salary crediting. The headache part is if you don't hit $500 for a single time, you won't get the interest and you won't get the cashback for the quarter. Overall, just choose the accounts and credit cards that suit your need the most.

Singapore Saving Bonds (SSB)

STI ETF

Property

Investments

1 lot is 100 shares usually in Singapore context. 1 lot or 10 lot is up to you and have to see the share price of the REITs that you are interested in as well. Just make sure you done your research before buying and comfortable with stock volatility.
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