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SG Budget Babe

Your Personal Finance Tribe: Become Financially Free!

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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.

Ask Your Questions Below

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Career

Lifestyle

SG Budget Babe

Wallace Chai
Wallace Chai
Top Contributor

Top Contributor (Dec)

Level 9. God of Wisdom
Answered on 17 Dec 2019
Hi, If you think you really cannot function and felt miserable, i think it is best for you to look for alternative job. If not, you will be dragging yourself to work everyday and no motivation at all. When look for others job, can always go to glassdoor to read some reviews on the company culture. All the best for you!

Family

Investments

SG Budget Babe

Savings

M
Matt
Level 4. Prodigy
Answered 1d ago
Quick tip that the government will match up to 3k put into your child's CDA. That is if you put 3k into the CDA the gov will also put 3k!

Insurance

Family

SG Budget Babe

Hospitalisation Insurance (H&S)

Parenting

Personal Accident (PA)

Javis Ye
Javis Ye
Level 4. Prodigy
Answered 4w ago
Hi Heng, you should definitely get an insurance plan for your baby while they are still healthy. The mistake that many make is that they wait for something to happen before acting on it. It is going to be too late by that time as there may be exclusions or the worst case total rejection of the proposal. Its always wise to insure and protect your family member first before a crisis hits. =)

Credit Card

Payments

Family

MileLion

SG Budget Babe

Aik Kai
Aik Kai
Level 7. Grand Master
Answered 2d ago
In theory, this is fine and okay. But in reality, a move that will raise lots of questions. If you let another person use your credit card, even though you know fully that he/she is using it, when shit happens, banks and maybe the police will suspect fraud and the whole process of explaining is not worth the effort. The best is just sign up a supplementary card for him/her. Save the trouble.

Stocks Discussion

Investments

Family

SG Budget Babe

Billy Ko
Billy Ko
Level 7. Grand Master
Answered 3d ago
It would be good to obtain the cost price & number of units they have, coupled with the dividend earned over the years to identify how the investments have performed over the years. Depending if you'd still be keen on investing, you can choose to manage the stocks i.e. look back historically on how the company has progressed over the years, management, business profile etc. and decide how the company is poised to do in the future, or if you really aren't keen on investing anymore, then you could just sell it off.

SG Budget Babe

Stocks Discussion

Investments

Whatever they are holding on to for dear life, has got to have decent fundamentals. If not, there is no point in holding on. Or, they must have sufficient conviction in its future. But for you to convince them to take it out, will require a value proposition that must be several times stronger, since it's their money. And it must more than offset whatever losses they will realise by withdrawing the current investment. Is there someone else that they trust, whom you can speak to first regarding the situation? Sometimes, a third party opinion will work better since it's not from within the family. Although I have no idea what they bought, but I wish you all the best.

Credit Card

SG Budget Babe

Maybank Family & Friends Card

Grab

GrabPay Card

Maybank

Cashback

Choon Yuan Chan
Choon Yuan Chan
Top Contributor

Top Contributor (Dec)

Level 9. God of Wisdom
Answered on 23 Dec 2019
Unfortunately no maybank friend and family credit card do not get 8% cashback Tested and verified by the country's Grabpay Expert- Chan Choon Yuan wasted his money doing it

Stocks Discussion

Family

Investments

SG Budget Babe

Hi anon, If you are fairly certain of your ability to generate returns for your parents, then by all means, go ahead. If not, it might be better to leave the investments to others. If money is lost, they most likely won't blame you as you are their child, but it will sour things, and you will also feel guilt ridden, which is the last thing you want. If you were to invest their monies, make sure it is not a big amount first. Defiintely don't invest their entire live savings. At their age, they should not be taking undue risk. Perhaps up to 20% of their savings can be placed in defensive equities that generate good dividends. I have actually done that myself, helping my mom to get some dividend stocks, which I myself hold. Mom is very happy when she gets the dividend twice a year. It was a bit hard at the start since she's never invested, so she was very very skeptical about the whole idea. However, as her son, I personally guaranteed her capital (she wasn't going to put too much anyway) so that extra level of guarantee from me was sufficient to convince her to start.

Investments

CPF

Savings

Loans

Stocks Discussion

Family

SG Budget Babe

Wilson Nid A Break
Wilson Nid A Break
Level 8. Wizard
Answered 4d ago
Looks like you can FIRE before 55 yo, as long you dont get married!

Wedding

SG Budget Babe

Depends on how close you are to your friend. As mentioned by others here, you should at least cover the cost of your seat. Can research current estimated table prices here: https://singaporebrides.com/wedding-banquet-price-list/ Oh and if you are close to your friend, consider adding more.
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