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Savings

Endowus

Endowus CashSmart doesn't show daily earnings like on StashAway Simple and Singlife?
Shengshi Chiam, CFA
Shengshi Chiam, CFA
Level 7. Grand Master
Answered 3h ago
Hi, It does on each business day. Let me know if you have any further question, thank you.
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Savings

Career

What side hustles can you do at 13 in Singapore?
Tan Kel Vin
Tan Kel Vin
Level 4. Prodigy
Answered 6d ago
You can either focus on short term side hustles like doing online surveys, doing freelance, which is easy and have high payout, but down the road the sum is quite insignicant. But if you can focus on creating content, eg Udemy tutorials, YouTube, taking photos to sell, this side hustle will snowball into a very very large amount later on. Simply because it's scalable. Here's my list of top 10 side hustles which you can check out (yes, i'm hustling too) https://youtu.be/zEKi-WePWFY
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Insurance

Savings

Savings Accounts

Singlife Account

How likely is Singlife able to maintain the 2.5% in the near future?
Hi Si Hong, As 2.5% p.a. is only on the first $10K, it is possible that they could sustain this since they have capped their liability in terms of how much interest they have to pay out. If they are hitting their limits, they could simply close new subscriptions to the Singlife account. If their underlying assets are investment grade coporates, it's still possible to get 2.5% p.a. returns, which they don't have to pay out all.
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Savings Accounts

Savings

DBS Multiplier Account

Standard Chartered JumpStart Account

Singlife Account

I'm a fresh grad trying to decide which savings account to open. Was gonna go for DBS Multiplier until they revised their interest rates today. Any recommendations?
Gideon Ng
Gideon Ng, Blogger at FI Pharmacist
Level 5. Genius
Answered 2w ago
Hi Anon, I think it really depends on your situation. If you are able to hit the $5k-15k transaction amount, the interest rate will be 1.1%. That 0.1% might not make such big of a difference. The good thing about SC JumpStart is that it is very flexible with few requirements. The debit card has a 1% cashback on any transaction using Mastercard, which is really useful! Then again, with the DBS Multiplier, you may be able to sign up for a credit card that has more benefits based on your lifestyle, so that's something to consider too. SingLife has a really attractive interest rate currently, and I would suggest to keep the $10k there for the time being. Even if it does drop to perhaps 1.5%, it still would be more competitive compared to other savings accounts currently. There is no right or wrong answer, ultimately it depends on what you're comfortable with doing and whether you can get the most bang for your buck based on your lifestyle!
👍 2

Investments

Family

SG Budget Babe

Savings

Savings Accounts

How do you convince your parents that money in the savings account is just rotting away and should be taken out to invest?
Rais M
Rais M
Level 7. Grand Master
Answered on 26 Feb 2020
My parents are not that young anymore and I do not want them to take or feel that they are at risk when it comes to investment. After much consideration, I decided not to convince them to invest their money, but rather, I will invest more of my money to support them somehow. I am their retirement plan.
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Investments

Savings

Hi, all. I need some advices before kickstart my investing journey as a beginner.?
Wilson Nid A Break
Wilson Nid A Break
Level 9. God of Wisdom
Answered 1d ago
Go to libbyapp.com and login via your NLB account, and go borrow as many personal finance / value investing books. Borrow books that are written from a practictioner perspective. Can start with beginer friendly: The Five Rules for Successful Stock Investing by Pat Dorsey The Ultimate Dividend Playbook: Income, Insight, and Independence for Today's Investor, Josh Peters If books are not your cup of tea, there are a couple good US financial youtubers to follow Graham Stephan: https://www.youtube.com/channel/UCV6KDgJskWaEckne5aPA0aQ PPCIAN: https://www.youtube.com/channel/UCXtrYuGksGkkyls50lPWvYQ
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Payments

Savings

General

Fresh Graduates

Best way to make payments in USD and to minimize FX conversion fees/losses?
Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Jun)

Level 9. God of Wisdom
Answered 23h ago
TransferWise
👍 0

COVID-19

Savings

Savings Accounts

Stocks Discussion

Investments

Career

CPF

Robo-Advisors

Hello SEEDLY! I've been working FULL TIME for 5 years, saved all my money in banks (DBS & UOB & OCBC) until recently all the interest rates keep dropping.?
JC
JC
Level 5. Genius
Updated 1d ago
You may want to consider elastiq, capital and interest (1.8%) guaranteed. Flexible withdrawal after day 91. Am personally using it. https://www.tiq.com.sg/product/universal-life-insurance-elastiq/ If you want a higher interest rate, you may also consider Stashaway Simple or EndowUS Core or Enhanced where they invest in MMF. However, it's not capital guaranteed and interest rates are only projected.
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PolicyPal

MoneyOwl

ValueChampion

Savings

What happens to my money when I die without a will?
For a person without a will, you will be considered Interstate. Your estate will then be distributed according to the Intestate Succession Act (With the exception of Muslims as their estate’s distribution will be governed by the Muslim laws and Syariah Court). To kickstart the process, one of your next-of-kins will have to apply for a Grant of Letters of Administration. It provides them the authority to act as the administrator of your estate – which in turn allows them to distribute your estate. We have done a chart to show who will be your beneficiaries in the different scenarios. Do check out our article to find out.
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Investments

Savings

Savings Accounts

Stocks Discussion

Online Brokerages

I have about $1500 to invest when I hit 18 years of age. What allocation should I put this money in?
Wong Sung Fung
Wong Sung Fung
Level 2. Rookie
Answered 1d ago
Assuming your investment knowldedge is as your said, try look for Adam Khoo Ultimate invesement Port folio. ETF average down , good and bad performers. With small capital only under valued growth company is suitable. Identifying them is not so hard. MSCI World ETF - 3 of them cant even compare basic SPY 500. pls dont start with bond divide. with 1500/2 capital the dividen that you get might be less than patform transection fee
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