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Credit Card

General

Kenneth Lou
Kenneth Lou, Co-founder at Seedly
Level 8. Wizard
Updated 8h ago
This is pretty nasty. 28% p.a for most credit cards. That's really ridiculous rate and the interest compounds monthly because the fees are charged every month when you do not pay off your credit card debt. That's excluding all the late charges and additional interest fees. The total amount of interest you are paying: - 28% p.a interest on your credit card debt (X) you owe - Additional late charges monthly (Y) - (X +Y) x 28% p.a will compound agressively and very quickly. Rule of thumb: - NEVER get a credit card if you cannot control your spending - Always pay off your credit card debt monthly in full - Don't be too lazy to waive off your credit card annual fees (this compounds also if you dont pay it off)

General

Sabrina Swift
Sabrina Swift
Level 1. Freshie
Answered 1d ago
The solutions to fix iPad won't turn on are similar to these to fix your iPad keeps rebooting. Hope you can find a practical workaround to repair it with no data loss.

Investments

General

Jefremy Juari
Jefremy Juari, Financial Writer at Medina Books
Level 3. Wonderkid
Answered 1d ago
Given the market situation and inflation between 3% - 10%. We're better off hedging the market vs riding it down. Especially when you have a shorter time frame. My suggestion would be gold in physical coins, an asset you can hold in your hands, coins have a better resale value than other gold products. Companies like bullionstar sell gold bullion coins at a percentage above market value and they also buy coins off customers. Try not to buy into gold accounts as they add another level of risk related to the holding company. There you go, inflation resistant, suitable for the choppy short term market that we are facing. Also try to have an exit value, for example you needed the monies to grow at 4% yearly, you'd want to exit or redeem your investments at any time they reach $27,000 to eliminate any further risks. In my opinion, chasing 4% to 6% profits vs resisting 3% to 10% inflation is a no brainer in a short term view. Higher upside.

General

Savings

Soon Xiaohui
Soon Xiaohui
Level 5. Genius
Answered on 10 Jun 2018
Since you are self-employed, your saving may be different & the way you handle will be much different too Especially if you cash flows comes in big amount. What I can suggest is, 1. List down what is your monthly expenses then multiply by how many mths (this is for how long that your big amount is expected to last you) 2. Set aside emergency fund 6 to 12 times of your monthly expenses. (some trades, only receieve pay maybe after few months, therefore your emergency fund will be more than the usual scenarios) 3. Set a min target of saving (fixed amount) and the rest will be additional. How to set a fixed amount: find your average income per month & use that as a guideline to allocate a % to save up. Usually saving is 20 to 50%. this amount includes for investment/retirement etc. After identify it then you may start doing investment like the rest of community. Hope this helps you to understand how you may be able to handle. :)

Family

Investments

General

Singapore Saving Bonds (SSB)

Fan ZD
Fan ZD, Employee at A Bank
Level 3. Wonderkid
Updated 3d ago
I do as my parents did. Keep it for them and put into the joint bank accounts. Use these to teach them the concept of income and expense budgeting.

Investments

Stocks

General

Depends on the stock. For blue chips the spread is usually not very big (e.g. 3-4 cents), but for smaller cap companies, it can be significant, as much as 10%.

Investments

General

Yong Kah Hwee
Yong Kah Hwee
Level 6. Master
Answered 3d ago
I am using it. I find it very useful in keeping track of my investments. They also provide useful information, such as when dividends are coming up, what your projected dividends for the year is, and the various ratios that you'd need to do some analysis. Would recommend.

Investments

General

No investments are sure wins. All investments carry risk. The safest instrument you may wish to consider that will provide a form of 'side-income' will be Singapore Savings Bonds which will pay out twice a year, and are quite low cost to get into, with a minimum requirement of $500.

Career

General

If I knew someone was trying to get a reaction out of me, I would probably not have any reaction regardless of the figure. In the face of death, serious illness, etc, your salary ceases to have much meaning and your time left with your loved ones will matter more. That is the one true equalizer in our lifetimes. When your time is up, it is up. Besides, if you earned X and spent 101% of X, you'll be broke regardless.

SeedlyTV EP08

Electricity Market

General

Zen Rogue Xuan
Zen Rogue Xuan
Level 4. Prodigy
Updated 4d ago
SP is mandated to provide electricity at the given tarriff, which is updated every quarterly: https://www.ema.gov.sg/ResidentialElectricityTariffs.aspx However, OEM retailers are not. As such, they are able to give a discounted rate, in the form of discount off tarriff whcih ranges to about 20-25%, or a fixed rate which is currently about a 28-30% discount. Interestingly, you pay less for a fixed rate, which is often not the case in real life- for mortage loans, the fixed rates are higher that that of a floating rate as you pay a premium for security. The gap between fixed rates and DOT rates are clsoing, and I predict that OEMs retailers will gradually raise their rates as the market matures. Finally, if you are not out to play the referral game nor interested in rebates, you can consider taking SP's wholesale plan by logging into SP services - click this tab 'Buy at Wholesale Electricity Prices'. AIM meter installation($42.80) is not compulsory as SP will charge you according to EMA's typical household load profile at the half-hourly wholesale rate. Calculations have shown the rates to be pretty competitive
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