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Savings

Managing your cashflow

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Stocks Discussion

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Savings

Bank Account

Career

Alan Kor
Alan Kor
Level 5. Genius
Answered 1d ago
The title refers to a story about a visitor to New York who admired the yachts of the bankers and brokers. Naively, he asked where all the customers ' yachts were? Of course, none of the customers could afford yachts , even though they dutifully followed the advice of their bankers and brokers. Just subsitute the bankers and brokers with insurance agents. !
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Bank Account

Investments

Savings

Randy Chai
Randy Chai
Level 4. Prodigy
Updated 1d ago
Hi Alcander! Taking the assumption that you're a student and thus, would not be able to qualify for Salary Crediting, Credit Card Spend, Home/Car Loans and/or Investments. Here are the top 3 Saving Accounts you can go for with the highest interest rates. P.S. Calculated/Researched based on this formula (Base Interest + Bill/Giro Payment + Other Bonuses) ! 1) Maybank's Save Up Programme Base interest rate: 0.3125% - one Maybank product or service, Giro Payment Bonus (of at least $300): 0.3% Total attainable interest: 0.6125% ! Source: Maybank 2) Bank of China's SmartSaver Base interest rate: 0.25% - Payment Bonus (3 bill payments of at least S$30 each): 0.35% Total attainable interest: 0.6% Source: Bank of China 3) CIMB FastSaver Account - Base interest (First $50, 000): 1% Base interest (Next $25, 000): 1.5% Base interest (Above $75, 000): 0.60% ! Source: CIMB Based on our assumptions and interest rate formula, CIMB's FastSaver Account will provide you with the highest interest rate at 1% which will be ideal for you at this juncture. However, don't just hear this from me, do check out what our community have to say by reading their reviews: https://seedly.sg/reviews/savings-accounts Also, for a more detailed breakdown for all available savings accounts, do check out our Best Savings Account Cheat Sheet here: https://blog.seedly.sg/best-savings-accounts-singapore/ Last but not least, do note that you can use Seedly's Savings Account Calculator to find out which service provider is best for you: https://seedly.sg/tools/savings-account-calculator ! I hope this will help!
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Lifestyle

Savings

Credit Card

Personally, my fav is still TaoBao due to largest supplier, variety and lowest possible price! I started on 11th Nov, has the most deals and coupons (like Q10) but expect ETA about 1.5 months!!! Here are few of my tips that I use whenever I shop at Taobao: 1. English reader use Google translate for your easy understanding. 2. Upload / Take pic of your item (using the camera icon) for easy search in the billions of items. ! ! ! ! 3. Use the filter functions to narrow down the size, types, materials, pricing, seller ratings, highest sales volume to get to the treasure in the sea of same product! ! ! 4. Always read User Review. They have Q&A, User Showcase (pic/video) and user review. Tips: a) Review can be fake ! (Paid by merchants to do fake review) but the pic / video is worth a 1000 words! See it for yourself, check the real item pic share / showed by past buyers to be safe of design/colour and some cases, the quality. b) Read seller review: But take it as a pinch of salt since it can be fake. I'll usually choose those where many people buy from them, so that should be quite safe since many buyers bought from them. ! ! 5. Measure yourself first (clothings), record down and for every item, there's a measurement so you can base on that table to compare and find / buy the right size and fittings. ! Happy Treasure Hunt (Taobao!) Cheers!
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Singapore Saving Bonds (SSB)

Savings

Investments

Do 50/50 SSB and a savings account somewhere. The started SSB will grow into something more which you can allocate to other investment pots in years to come, and the savings acc will be there for the really rainy days (and if really need to cash out the other SSB half, i'm sure the savings acc half can buy some time :)

Stocks Discussion

Robo-Advisors

Investments

Retirement

Savings

Hi Darren, My name is Dhruv Arora, and I’m the founder and CEO of Syfe. Thanks for your interest in finding out more about Syfe. My experience as both an investment banker and then a consumer technology expert was a building block at Syfe - we always wanted to bring the best of financial services to the masses. Syfe is built for all investors, whether you are new to investing or a seasoned investor. And we have. Your process starts with understanding your correct risk appetite through our robust yet straightforward Risk Profiler (for free). That is when the real magic begins. Our proprietary Automated Risk-managed Investments methodology (ARI) will allocate assets which have shown the best return for your risk profile. But more importantly, it continually monitors your portfolio. During periods where higher market volatility has been forecasted, ARI will adjust your portfolio allocation and reduce your exposure to higher-risk asset classes. This ensures your portfolio risk stays aligned to your desired risk level. Conversely, during periods of market calm, ARI will adjust your portfolio allocation to allocate more to higher-risk assets, so your overall portfolio risk is kept in line with your desired risk exposure, but you can capture the market upside as well. The result is that ARI helps you achieve benchmark-beating returns by maintaining your desired risk level, no matter what market conditions maybe, just as a real wealth manager should do for you, round the clock. For more details on ARI, you can also check out our investment methodology paper here. I hope this helps. Do not hesitate to reach out should you have any other queries. Happy investing.

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. :)

Credit Card

Savings

Joel Tan
Joel Tan
Level 1. Freshie
Answered 2d ago
Not worth at all. Dun do it. you lose interest in the $50k or $100k u deposit in Unlimited saver account at 0.1% where you could place in a 2% account effectively causing you to lose $159 approximately a month. That means you have to spend around $5334 to earn the cash rebates just to be on par and not worse off. This is to prey on people who do not both to count opportunity cost foregone. Please correct me, if I am wrong. SH

Family

Investments

Savings

I have two friends(they are a couple) who were in the exact same situation as you are in now. It’s definitely not easy for both of you as you will both be in different life stages temporarily. What my friends did were (I will list down 3 crucial area, hope it helps!): 1. Communication and community: They ensure they communicated strongly and learn to be understanding towards one another. They also relied on the community they are in for strength and support Their communication also set out plans for their future taking both their current life stages into consideration. 2. Involvement and accountability: When I first sat down with my female friend to do Financial planning, we made sure to consider my male friend and their future together too. We ensured that the guy is kept in the loop and if he can join the meeting, we will love it too. This helps them to be involved and accountable towards themselves and one another on their future. Both can still be involved even if life stages are different. ☺️ 3. Commitment: Even though life stages were different, they stay committed to what they say they will. Of course these commitments are realistic towards their situation. ☺️ The two of you will grow stronger in the relationship from this time, I believe! Hit me up if you need more info. ☺️

Rent

Savings

Robo-Advisors

Investments

Family

Lifestyle

Fan ZD
Fan ZD, Employee at A Bank
Level 3. Wonderkid
Updated 2d ago
Rented before as a student more than 10 years back, so the prices have probably changed by now. On the other hand, I have many Indian/Filippino colleagues on work pass who rent rooms in HDB flats - these can be anywhere between 400 to 800 per room depending on location. For example, rentals in Yishun are usually closer to the 400 range. Somewhere like Kovan or Tampines would be closer to 700/800. If you are looking at condos, they would be slightly higher due to the amenities, of course. For more price ranges, you can look at AirBnB too.

Investments

Savings

Lifestyle

Insurance

Robo-Advisors

Stocks

Harvey Tan
Harvey Tan
Level 3. Wonderkid
Answered 2d ago
Hi Read the following books before investing : 1. The Intelligent Investor - Ben Graham 2. The litte book of common sense investing - John Bogle 3. A random walk down wall street - Burton Malkiel It will serve you well in the long run.
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