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SG Budget Babe

Your Personal Finance Tribe: Become Financially Free!

Dawn Fiona
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Questions answered

A QnA Platform For Cashback and Parenthood Hacks, By Budget Babe!

Welcome to our Q&A Community! This safe space caters to Cashback Enthusiasts and Parents, to learn and share new ways of living cost-effectively amidst the ever-rising costs in Singapore. Thinking of building a second source of income? Not sure how to prepare for your first child? Want to further understand how to plan for your child's future? Have questions on current Cashback deals? You can simply ask here!

Let's help each other out in this journey! If you are shy...you can always ask your questions anonymously!

This topic QnA page is hosted by Dawn Fiona, Founder of SG Budget Babe.

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MileLion

Travel

Cashback

SG Budget Babe

Hi anon, Don't. Stick to cash back if you never intend to redeem for J or F. The value of redemption is pretty bad for economy. However, if there is a massive sign up bonus such as the SCB X card's 100K miles for $6.7K spending, the miles, even if used to offset the cash price of a ticket(not that you should do that...but well), would carry a value of 1 cent per mile, or in this case, $1000 dollars. Spending $6.7K and get $1K worth of miles to offset your flight purchases is almost a 15% cashback. No cashback card can do this.

MileLion

Family

SG Budget Babe

Krisflyer

I personally would not. You would just need a bassinet seat and there's far more of those in J than F. Also, F and J are indistinguishable to an infant. So if you fly in J, the 10% of the revenue fare you'd need to come out with will be lower compared to F. I'd try to keep F redemption for something really special, unless I'm flooded with miles that need to be burned.

Credit Card

DBS Altitude Visa Signature Card

Grab

Fave

Savings

Lifestyle

Payments

MileLion

SG Budget Babe

Miles

Cashback

Technically, quadruple dipping is possible, e.g. you spend at a CapitaMall, earning STAR$ under their programme (bonus 50% with a passion card linked to your STAR$), cashback on Fave, grabpoints on grabpay, which you topped up with an eligible card, earning 4mpd. The DBS promo grants you 4 mpd for Grab and gojek until 31 Dec 19, capped at S$1,200 for the entire period . Registration is required. Grabpay is not explicitly mentioned so it would be better to call in to check. Supposedly Citi Rewards Visa users are getting 4 mpd on this. Or, the Amex KF cards if you really want to be sure of getting the extra mpd.

Savings

Family

Lifestyle

General

SG Budget Babe

Kim Heok S
Kim Heok S
Level 4. Prodigy
Answered 6d ago
The parents I see around me are receiving an allowance, but could live without it. It's probably an Asian culture thing that children are doing this.

SG Budget Babe

Career

Lifestyle

Kim Heok S
Kim Heok S
Level 4. Prodigy
Answered 3d ago
Health first. Money is just a means to an end. There will always be a way to earn money, but never a way to 'earn' health

SG Budget Babe

Investments

Stocks Discussion

Kim Heok S
Kim Heok S
Level 4. Prodigy
Answered 4d ago
I do think it's better to go slow first so stick with lower risk investments first while you build your way up. Unit trusts can be considered for a start.

SG Budget Babe

Insurance

Hwee Kian
Hwee Kian
Level 6. Master
Answered 2h ago
I think for the plan which you mentioned, I'm not exactly sure about the details of it (the devil could be in the details), but what I believe is that it is a relatively new Life insurance Brand in Singapore, reputation wise may be a challenge to sell. Not only that, when i try to find out reviews on google, there's not many good reviews as there are people commenting about customer service as underperforming. So it really depends if you're looking from a price affordability point of view or other tangible/intangibles such as customer service for claims etc.

Stocks Discussion

SG Budget Babe

Daryl Liao. Full Time Investor.
Daryl Liao. Full Time Investor.
Level 6. Master
Answered 17h ago
Improve my mental models about evaluating investmenst and sitting tight on them! I 2019 I sold 2 of my stock after making a 2 bagger. it continued to climb and I would have otherwise made a 4 bagger and three bagger respectively.

General

Property

Insurance

Bank Account

SG Budget Babe

Lawrence Yip
Lawrence Yip
Level 3. Wonderkid
Answered on 05 Sep 2018
Hi, before planning to do a Will, need to understand more on your family structure and what are the concerns you and your parents have. At my side, we have a monthly complimentary seminars on Will Writing presented by Lawyer and it is advisable to attend to find out more if really keen to draft a Will, thank you.

General

SG Budget Babe

The most important thing to do would be to max out the CDA account for your child. The dollar-for-dollar matching of savings means that the government will match up to $3,000 when you deposit your first $3,000 in to the CDA account. Planning for your child's future milestones like university tuition fees might be a decision that you want to take at this point. You can consider an investment portfolio consisting of endowment plan, equities, bonds, etc. Allocation and contribution per month will depend on how much you intend to provide for your child's university education(you may wish to provide part of or fully cover their university education) when the time comes.
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