YY Yin Yu - Seedly
YY Yin Yu

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YY Yin Yu

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YY Yin Yu

16Upvotes
  • Answers (15)
  • Questions (2)
  • Reviews (2)

General

AMA SG Young Investment

YY Yin Yu
YY Yin Yu
Level 3. Wonderkid
Updated on 07 Jun 2019
it is never too late to do anything. The experience you get when you travel as a fresh graduate with minimal Budget and working adult with more Income is very difference. I’m glad that I have both experiences. After all I realised that even if i can afford it, I still prefer to do certain thing budgetly because it gives me more fun and happiness. For example, accommodation, I can afford to stay in the hotel but I still prefer to stay at home stay or guest house where I have interactions with others. My friends who never travel budgetly as a fresh graduate didn’t dare To even try it. Some feel embarrasing as well. Ultimately, don’t feel lose out. If u feel like doing it, just do it!

Credit Card

General

YY Yin Yu
YY Yin Yu
Level 3. Wonderkid
Updated on 07 Jun 2019
As i am accummulating miles, i pay income tax using cardup. I need to pay 2.6% service fee, but in return, CITI Rewards Card offer 4mpd for that. When i calculated, the mile cost is 0.63 cents per mile (which is cheap to me) If i pay $5,000 income tax using the cardup platform, cardup will change me 2.6% which is equivalent to $130 fee. Citi Reward card will give me 20,520 miles which I can use the miles to fly from SIN to HK via Cathay Pacific on economy cabin + Tax. I think paying $130 for this return flight is not bad. This is just an example, we usually won't use mile redemption this way. But i hope this illustrate my point.

Investments

SeedlyTV EP07

P2P Lending

YY Yin Yu
YY Yin Yu
Level 3. Wonderkid
Updated on 07 Jun 2019
I have just started Funding Society this month. So far, the ROI is about 13% p.a. After minus off the 18% commission given to FS, i get about 10% p.a. The whole application process is easy and systematic. The livechat response is very fast and information provided is clear. There is about 1-2 loans shared per day and factsheet about the loan is provided. I particularly like about the financial information given in there. So far, most of the loan has a maximum invested amount of $50 (some loan is higher, depends). When i don't invest my money for > 12%p.a., i will park the money there. Nonetheless, there is still risk for default payment, take responsibility of that.

Credit Card

YY Yin Yu
YY Yin Yu
Level 3. Wonderkid
Updated on 07 Jun 2019
Perhaps i just share how i accummulate miles via credit card. First of all, i am currently holding 4 Air miles credit cards. 1. DBS Woman's World Master Card - any online transaction. Usually i use this to buy online grocery, air ticket and shopping. Also, i will use this card to pay insurance premium via policypal. 4mpd is quite good. - Can only keep the points for 1 year only, then transfer to Krisflyer/Asia Miles (then keep another 3 years). 2. Citi Rewards Card - currently maximising the 8mpd for Apple Pay transaction till end of July. I spent on dining, retail, grocery, cinema that accept paywave. - Can keep the points for 5 years, aim to change rewards point for AVIOS (then can keep another 3 years) 3. Maybank World Master Card - mainly for dining at Paradise Group, Crystal Jade and Imperial Treasure, 4mpd plus 12.5% P$ Rebate at Paradise Group (normal only 10%) - Complimentary Rewards Infinite membership where 1) Point never expire; 2) 50% off the TREATS Points redemption (max: 5700) for each birthday year; 3) no miles conversion fee - only transfer during birthday month and when I need the Krisflyer/Asia Miles 4. Amex Ascend Card - for local transaction that cannot accept paywave and online, this earns 1.3mpd. Grab at 3.2mpd. - free conversion 2 other ways to accummulate FREE miles which i think is super useful are: a) Milelife 1) Free 10-200 miles per week for daily check-in for 7 days consecutively 2) Bonus mile given during the 7-day check-in (for example get 300 miles with $45 spent) 3) Refer friend and get 1,000 miles (this is quite tricky, must make sure that your friend download the app via the link you sent, not from App Store or Google Play). When your friend click on the referral link, the app will automatically 'trigger' your friend to download from the app and not thru your referral link. In that case, milelife won't give you 1,000 miles upon successful referral. b) Krisflyerspree - the miles kind of "shopback" Thanks for reading! Regards YY

General

YY Yin Yu
YY Yin Yu
Level 3. Wonderkid
Answered on 23 Jul 2018
Stock investing: That's part of the learning process in investing. Infact, this makes me realise that i need to learn more. Understand that it is a "wiser choice" to minimise sunk cost as early as possible, then you will feel better Gambling: Everyone knows that the chances of winning is not high and it does highly depends on luck. So pre-condition yourself not to feel sad about losing gambling money Wrong Puchase Decision: It happens, resell it or give it away (can consider as a charity act :p )

Insurance

YY Yin Yu
YY Yin Yu
Level 3. Wonderkid
Answered on 19 Jul 2018
If you plan to grow the $300 by yourself, then learn the various investing method. If not, you would be better off top up the money into CPF SA to 1) get tax relief; 2) earn 4% interest compounding till retirement age. After which, use the money to buy CPF life that give you monthly payout till you die. This is something similar to Annuity Plan. The retirement account also offer fantastic interest rate (in saving context) around 4-6%p.a. compounding. There are advantages and disadvantages of doing this way. The biggest problem is that the money top-up cannot be withdrawn till age 55/65 (depending if you set aside sufficient money for Retirement Sum). Hence, it is not liquidate. As for the money saved to buy flat, i suggest that you investing this money instead of just "saving" it. My personal experience is that it is hard to catch up with the property price increase than my rate of saving. Please do some reading about investing in ETF, P2P etc. Explore different options rather than just insurance solution. However, investing is not for everyone. We don't have to force ourself if that's not your cup of tea. Cheers!

Insurance

YY Yin Yu
YY Yin Yu
Level 3. Wonderkid
Answered on 19 Jul 2018
if you are asking if that life insurance would still be valid, then the answer is YES. Basically nothing would have changed.

Career

YY Yin Yu
YY Yin Yu
Level 3. Wonderkid
Answered on 19 Jul 2018
Opportunity to learn, to try, to express idea, to execute is hard to come by. There are many ways to increase your income, don't restrain just the active income on your day job. As you grow older, you realise that we want passive income to be financially free.

Investments

YY Yin Yu
YY Yin Yu
Level 3. Wonderkid
Answered on 19 Jul 2018
Since you have already pointed out this, meaning that you are concern that there is no monthly saving. It is a good start. The next thing to do is to "sell away" this thing if it is not essential, for example facial package, gym membership, spa package etc. Simple is good and less financial stress. It is the habit we need to instill in our mind that impulse purchase should be controlled and even if we did, need to think of solution to salvage the damage. We must learn to let go in my opinion. Save now, invest later and use the passive income for the things you desire. GOod [email protected][email protected]

OCBC Titanium Rewards Card

CITI Rewards Card

Credit Card

YY Yin Yu
YY Yin Yu
Level 3. Wonderkid
Answered on 08 Jun 2018
I just want to highlight the bonus points about citibank rewards because these two cards offer similar rewards for shopping. From now till 31 July 2018, CR gives 8mpd for Apple Pay transaction. No cap. From now till 8 July 2018 Shop at Lazada and earn 8 miles for every S$1 spent On top of that, they offer Up to 10% Citi Rebate at over 300 locations, including Starbucks, Subway and Sheng Siong. So you are practically getting 2 times rewards. If you are a LiveUp member, you get 8% rebate instead of 5%. Though the above mentioned promotion has validity till July, if you need to apply the card now, grab the opportunity.
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Level 3. Wonderkid
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