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Investments

Stocks Discussion

Bank Account

Savings

Elijah Lee
Elijah Lee,
Level 6. Master
Answered 23m ago
To buy shares that are trading on SGX, you need to open a CDP account and a trading account with a brokerage firm, and link the trading account to your CDP account. Once those are open, you may proceed to buy shares. Costs that are incurred would include brokerage charges, plus Clearing Fees of 0.0325%, SGX Trading Fee of 0.0075% on the gross contract amount & SGX Settlement Instruction Fee of SGD0.35 per settlement. The whole cost is then further subject to GST of 7%.

P2P Lending

Investments

SeedlyTV EP07

Dexter Tiah
Dexter Tiah,
Level 2. Rookie
Answered 2h ago
Put it in a diversified equity etf like s&p500 etf

P2P Lending

SeedlyTV EP07

Investments

Cassandra Tho
Cassandra Tho,
Top Contributor

Top Contributor (May)

Level 5. Genius
Updated on 26 Apr 2019
Hey there, I am Cass, the community manager at CoAssets! I am unable to comment on behalf of other platforms, however, I hope that I would be of help explaining the processes of CoAssets. Unsecured loans are loans without collaterals. In the event that the P2P borrower defaults, within 30 days from the maturity date, CoAssets will schedule face to face meetings to remedy the fault, restructure loan if possible and inform affected investors. 31 to 60 days upon maturity, a third-party professional debt collector will be hired to collect from the borrower the unpaid amounts. 61 to 90 days upon maturity, CoAssets will obtain the Power of Attorney from the affected investors to act on their behalf. Anything more than 90 days upon maturity, legal proceedings will commence against the borrower. P2P lending are considered high risk investments. There is always a chance where lender might lose 100% of principal pledged. In order to make a more informed decision, always make sure to do your own due diligence before participating i.e. Default Rate % I hope I answered your question 😄

According to a recent study by Lee Kuan Yew School of Public Policy, Singaporean needs to have $157,206 to $597,052 upon retirement to meet the basic standard of living. Also, it is more expensive to be living alone when you grow older.

To Meet Basic Needs Upon Retiring, Here's How Much You Need To Save

To meet basic standards of living, a Singaporean needs to have $157,206 to $597,052 upon retirement, depending on gender, retirement age and martial status.

blog.seedly.sg

19 Jun 19
3

Travel

Lifestyle

BL
Brian Lee,
Level 2. Rookie
Answered 16m ago
If budget air, then everything is a cost especially luggage. You can save 1 way luggage cost by buying luggage there or order online and deliver the luggage to your hotel. Only buy the return ticket with luggage.

Savings

Credit Card

Bank Account

Glenn Toh
Glenn Toh, Founder at Whatcard.sg
Level 3. Wonderkid
Updated 12h ago
As a fresh graduate from just a few years ago, will share my personal experiences. Banks Account : I started with the OCBC360 account, it works quite well as long as you pair it together with other OCBC products to maximise the bonus interest rates (e.g. using the OCBC 365 credit card). Recently I have moved over to the DBS Multiplier account because of the constant changes in the OCBC360 account interest rates and requirements (all downhill...). I find that the DBS Multiplier is much easier to work with, main condition being that you need to hit a large monthly earning+spending to achieve good interest rates. It would work increasingly well as your salary increases over time. Investing: This is a massive topic of which entire books can be written on... But my personal take is to start small and passively invest whatever part of your salary you manage to save. Together with the OCB360 account I used their Blue Chip Investment Plan (BCIP) to invest a small amount on a monthly basis. This monthly investment plan really helped me to maintain discipline in saving/investment over time and you will be surprised at how much it adds up over time! Cards: Depends on what rewards you are looking for (cashback, airline miles, reward points) and also whether you want to use credit cards from the same bank where you are crediting your salary to in order to maximise bonus interest. - OCBC: OCBC 365 (cashback), OCB Titanium Rewards (miles) - DBS: DBS Altitude (miles), DBS Womans World Card (miles) - If you are indifferent to bank: Citi Rewards Visa (miles), BOC Family Card (Cashback)

Savings

Credit Card

BL
Brian Lee,
Level 2. Rookie
Answered 23m ago
Common Expenses: OCBC 365 6% cashback on everyday dining 3% cashback on groceries, land transport, online travel, telco and electricity General Expenses: UOB One 5% retail with $2k/mth expenses : Rebate $300/q 3.33% with either $500/m or $1k/m expenses : Rebate $50/q or $100/q respectively Note: % based on exact spending. If spend $5k for 3 mths, rebate still $300/q which equivalent to 2% only

Investments

Savings

I suppose you are talking about a balance sheet or sort of. In excel, liabilities are always negative (as you have mentioned, liabilities takes money out) In this case Asset = Liabilities + Equities because your liabilities are negative For example Asset = Liabilities (-1,000,000) + Equities (2,000,000) Asset = 1,000,000

Savings

Electricity Market

Dexter Tiah
Dexter Tiah,
Level 2. Rookie
Answered 2h ago
I use Geneco, with the 2 year lockin for 17cents per kwh. There are some retailers with even more discounts due to tie-ups with various banks that issue credit cards (i pay with UOB credit card). To do a quick search, you can check out www.whatcard.sg to see whats the base rewards each credit card has with each retailers (search for "geneco" in the search bar), then add in additional cashback amount (if any) to come to the best optimization of spending strategy

Savings

Investments

Insurance

Elijah Lee
Elijah Lee,
Level 6. Master
Answered 7h ago
If I had a time sensitive specific goal that required a sum of money without any exceptions, a savings plan would serve my purpose as there is a guarantee, with upside potential. E.g. children's education. I can't tell my kid that he/she has to delay university for a year or two because the stocks that I bought are down by 50% in a market crash and that I have to wait for the market to recover before selling them to cash out. As for investments, I prefer to invest on my own terms. Setting up RSP into UTs is easy, and I prefer to buy stocks when I find a price point I like. Hence to invest, I would not need to do it via an ILP.
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