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Tim Ng

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Tim Ng

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Tim Ng

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MileLion

Credit Card

Cashback

SG Budget Babe

Tim Ng
Tim Ng
Level 3. Wonderkid
Answered on 03 Dec 2019
Best option is to deposit $10k and get a secure card. Assuming you spend less than 1k/month, UOB PPV is definitely my go to card. Gives 4miles/dollar on Online Spend and Paywave. Another no deposit option is clear card. But generally in your case, cashback would be better because it takes a long time to accumulate before you can redeem flight tickets with your miles.

MileLion

Credit Card

Tim Ng
Tim Ng
Level 3. Wonderkid
Answered on 03 Dec 2019
After, and remember to ask politely!

MileLion

Miles

Tim Ng
Tim Ng
Level 3. Wonderkid
Answered on 03 Dec 2019
The top 3 worst things to spend your miles on is: Krispay @ 0.67 cents/mile Transfer to Tap for more points @ 0.73 cents/mile KrisShop @ 0.8 cents/mile For reference, redeeming miles is valued around 1.7-2cents/mile for most mile chasers. To avoid this, keep your miles in your credit card / bank as long as possible before transfering to krisflyer. If necessary, you can extend the expiry for a small fee (which is still better than any of the 2 options above).

Stocks Discussion

Tim Ng
Tim Ng
Level 3. Wonderkid
Answered on 03 Dec 2019
20 year treasuries, I'm short term bearish on the market at current valuations. So moving to a balanced portfolio with 50% bonds.

MileLion

Tim Ng
Tim Ng
Level 3. Wonderkid
Answered on 03 Dec 2019
You get to experience the luxury classes of top tier airlines you wouldn't have done using cash. A bussiness class ticket to Japan costs 45k miles, on a 4mile per dollar card, it's equivalent to 11.25k SGD spend. Yes it differes for differnet airlines as they have different award charts.

SG Budget Babe

Credit Card

MileLion

Tim Ng
Tim Ng
Level 3. Wonderkid
Answered on 03 Dec 2019
It is possible but not optimal. Let me show you the obvious and less obvious. Personal finance is all about cash flow: Income - Expense = Savings Using the equation above, the only way to save more is to either earn more or spend less and credit cards do both. You earn through cashback and spend less through credit card promotions. Let's take grocery shopping for example. You can save up to 15% by applying credit card vouchers on online shopping platforms (redmart etc) and earn cashback on top of it. For $500 spend each month, you save about $80, that's close to $1000 annualy. For the other perspective: Banks/Visa/MC usually charges a fee on the merchant for each transaction. These fees would be used to offset rewards (Miles, cashback) given to the consumer. If you are a merchant, you wouldn't want to be paying these extra fees and would opt to increase the prices of your products by a percent or two regardless of the method of payment. So if you only paying via cash/nets, you are already losing out and have been indirectly funding those who are earning rewards. However, the opposite could happen and leave you in bad debt if you spend more than your incomes. Thus, it is highly recommended to track your spending and only spend on your needs.

Salary

Career

Investments

Tim Ng
Tim Ng
Level 3. Wonderkid
Answered on 24 Nov 2018
Agree with YT, you allocate a portion to save and put it in Singapore Savings Bond (SSB). If you want to invest, a good advice is to invest money you don't plan to withdraw for the next 5-10 years. Markets are looking choppy right now. Another method is to put all in SSB and withdraw a fixed amount every month. That way, your money can grow at 1.8ish%PA and still can enjoy the liquidity of SSB.
Level 3. Wonderkid
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