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Pat

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Pat

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Pat

40Upvotes
  • Answers (29)
  • Questions (1)
  • Reviews (3)

Bank Account

Savings

Fixed Deposits

Investments

Pat
Pat
Level 4. Prodigy
Answered 4d ago
Hello! I don't think it is worth going for as you might need the $500 during the 3 months tenor, unless this is $500 excess of your emergency funds. Also, ICBC is not the friendliest bank to deal with and on that note, I say don't go for it. If you are below 27, why not open a Stan Chart JumpStarter account for 2% with no min balance or withdrawal penalties? Think that is a pretty solid deal :)

Travel

Lifestyle

Pat
Pat
Level 4. Prodigy
Answered 2w ago
To play it safe, will advise you to get a refund in the EU. Keep checking this website! Hopefully, there will be more details on post-Brexit soon. https://www.gov.uk/guidance/claim-vat-refunds-from-eu-countries-after-brexit

Family

Bank Account

Savings

Loans

Pat
Pat
Level 4. Prodigy
Answered 4w ago
If you are able to get a place in a non-private local university, don't worry as the bursaries and financial aids provided are quite generous. Try out for a scholarship as well! If the financial aid is not 100%, apply for the local uni bank loans with 0% interest until graduation and use your PSEA to pay off any fees. Try and get research assistant jobs in the uni to help with your savings. If you are planning to go to a private uni, I think you might need to work part-time in order to pay the bills. This is stressful and difficult, so I will encourage you to go for the former option and try your best to get a position there. God bless you! Hope everything works out in your favour.

Credit Card

DBS

DBS Multiplier

Pat
Pat
Level 4. Prodigy
Answered on 01 Sep 2019
Depends on your expenditure. If you are not much of a spender, the Everyday is sufficient. Even a charge of $1 to this card gets you your additional interest. Read their partner offers to max out the rebates that you can get. If you spend and like to travel, you can consider the Altitude card but tbh I only recommend it if your annual spending is $25k a year so you can get the annual fee waiver.

Savings

Singapore Saving Bonds (SSB)

Investments

Bank Account

Pat
Pat
Level 4. Prodigy
Answered on 29 Aug 2019
Hmm, the banks are seeking to lock down capital and have a steady stream of income coming in through recurring GIRO transactions. This is in preparation for a recession actually (and a response to the last recession) so that they have sufficient funds for their war chest. I doubt they will drastically lower their interest rates for these savings accounts, maybe just the top tier interest rate, as they still want consumer loyalty during a recession. As the 10-year average return for this month's issue is 1.95%, I don't think that SSB will be more beneficial in the LR. I don't see SSB issues improving in the near future, so I think it is still best to maintain your multiplier or look for short single premium endowment plans which offer you an interest above 2.2%. My two cents here, would love to discuss more with you.

Credit Card

DBS

Expenses Tracking

Pat
Pat
Level 4. Prodigy
Updated on 27 Aug 2019
Use Excel and the DBS Lifestyle app in tandem. What I like about the app is that it shows you how much you charged to each card on each date to which merchant (with a slight delay of 2-3 days). Also, there are promotions which you can join (e.g. grocery, dining) to earn rewards. If your card is eligible for DBS points ($5 = 1 point), the points are shown clearly once you log in and you can offset bills with that. Use your Excel to track total expenses (+breakdown) and maybe a short table on the miles/points/rebates which each card has so you can easily refer to it. Hope this helps!

Career

Lifestyle

Pat
Pat
Level 4. Prodigy
Updated on 19 Aug 2019
Will say full time. Tried the part time stuff, you need to properly manage work + family + thesis/papers, which is personally very tiring. Especially with all the rushing from work to school. As with most things, a compromise is necessary. However, if you do have an understanding boss, work out an arrangement that suits you! Could be part time work or telecommuting, either way, it alleviates the stress of studying part time while working full time.

CPF

Investments

Online Brokerages

Brokerages

Pat
Pat
Level 4. Prodigy
Updated on 14 Aug 2019
Hi there! The major banks (DBS, OCBC, UOB) allow you to use CPFIS (OA) to invest in ETFs. First, apply for a CPFIS scheme account on your online banking site and link it up with your brokerage account. When buying ETFs on your brokerage platform, simply pick the option of using CPF to pay instead of cash. Not sure which ETF you are looking at, but under CPFIS there are only 4 approved ones!

Savings

Singapore Saving Bonds (SSB)

Investments

Pat
Pat
Level 4. Prodigy
Answered on 03 Aug 2019
Hi! It is through the bank which you bought the SSB from. Mine is through OCBC and basically you go to Singapore Government Securities under Invest, and instead of clicking "Buy" you click "Redeem". You can only "withdraw" within the working hours of SSB which is weekdays 9-5 I think hahah and if you are withdrawing it now i.e. early August, do note your money will only be back in your account next month :)

Credit Card

Bank Account

Miles

Pat
Pat
Level 4. Prodigy
Answered on 01 Aug 2019
Walk in to speak to someone at the bank, they sometimes do grant secured credit cards . The caveat: leave a fixed deposit with them (ranges from 10-30k depending on bank!) I personally think the DBS Altitude is good for you as their miles donโ€™t expire + currently have a transport promotion (up to 4 miles for $1 spent). If I recall their min fixed deposit for a secured card is $10k!
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