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Savings Accounts

Payments

National Service (NS)

Undergraduate

Investments

Where should i park my money?
Hi Anon! You may want to split your money into Standard Chartered Jumpstart account, Singlife and StashAway Simple. They all offer 1%, 2.5% and 1.9% interest rates. Do note that Singlife and StashAway Simple's interest rates are not guaranteed, but certainly better than what the banks are offering.
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Lifestyle

Savings

Shopping

Fast fashion or Slow fashion? I buy fast fashion clothes because they are more affordable compared to slow fashion. Slow fashion seems to be more environmentally friendly and popular with Gen-Zs. What are your thoughts?
Hi! "slow fashion" to me kind of refers to those found in thrift shops, vintage stores or are just made more ethically and sustainble. However, they do come with a hefty price tag. I think most of us even Gen-Zs still choose fast fashion over slow fashion because its affordable and easily accessible. Fast fashion clothes do try to mimick a more vintage vibe to attract Gen-Zs nowadays. I buy fast fashion, and not really about the whole minimalistic wardrobe life. I understand the harmful effects it has on the environment but it is definitely cheaper. Ultimately it comes down to one's lifestyle and whether they are willing to make a change for the environment in this aspect :) Find out what works for you!
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Education

Undergraduate

Lifestyle

Is it worth it to go overseas to get a degree?
LJ
Loh Jin An
Level 2. Rookie
Answered 4m ago
Going overseas to get a degree is a good experience. But this experience also comes at a much greater price. There are many things to consider when going overseas to study, such as the financial aspect of it , higher price of school fees, daily expenses and housing cost. You should do your own research about the country you would like to study in before actually making a decision. Try looking for the feedbacks of people who have studied in those countries.
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Credit Cards

Miles

Cashback

What is currently the best card to pay for contactless payments and online payments to earn Miles or Cashback?
Si En Tan
Si En Tan
Level 3. Wonderkid
Answered 4m ago
If you do spend more than $400 a month, then the DBS Visa Debit Card would be better at 3% cashback. To get even more rewards, I link my phone to Google Pay and pay contactless via my Phone linked to my Debit card. I get the 3% and Google Pay has rewards from $0.50-$50 for the first 3 transactions(min $10) every week. If you would like to sign up to Google Pay and get a $3 referral, use my link below. Do share the link with family and friends too to earn more cashback as well. https://g.co/payinvite/zd3me0t
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Investments

Value Investing

General

National Service (NS)

I am a student waiting to go into NS and I am curious as how and where should I go to start in investments? What are the differences between trusts and shares?
Reading up on investment products more will help you to understand what are they and which ones you should be investing in at your current life stage and capitial. Take your free time in NS to read more before investing so you can have more specific questions, and the community here will be better able to assist you in your investment needs
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Insurance

Critical Illness (CI)

Whole Life Insurance

Term Life Insurance

Should I get a CI term plan or whole life plan (Death/TPD/CI). I’m a fresh graduate doing a traineeship hence no stable income yet?
If you have no stable income, I think it is best not to purchase any insurance policy as you will need to regularly pay premiums otherwise the policy will lapse and you will lose the protection. Try to understand about the various insurance products first, and know what each of them does and from there, understand what you truly need for protection. Do not buy it just because everyone is talking about the changes in CI definitions, but rather buy it on a needs basis (buy only if you need). Insurance is a long term commitment and you should purchase a policy only if you have the financial stability to pay for the premiums for the whole policy term.
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Career

Investments

Fresh Graduates

Savings

I am 23 years old and I did not even save a single cent. I just started working and let’s say my income is about $2K. What are the steps should I take to avoid complications in the future ?
Yang Teng
Yang Teng
Level 9. God of Wisdom
Answered 4d ago
It is important for yourself to understand your cash flow first. Where has the money been going to? Did you spend excessively on food or transportation or other splurges. Only when you understand your habits, then you can make targeted efforts to correct the issue. Next, it is also crucial to build up some emergency funds in case of an unexpected event or mishaps. This should be in conjuction with ensuring that you are sufficiently covered by insurance. You can follow the budgeting model of 50-30-20. 50% of income on needs, 30% on wants, and 20% savings. I would advise increasing the percentage allocated to savings (e.g 30-40%) to build up your safety net first. I would advise against getting a credit card at this point. The problem you encountered has been of excessive spending so getting a cash line may further exacerbate the current predicament and may end up getting into debt.
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Investments

Online Brokerages

Stocks Discussion

What should I do for my first investment?
Hello! Congrats on taking the step to making your first investment. Do take note of the exchange rate when you are buying anything outside of Singapore market. As for your $1500, it would be good if you have a savings of at least 3-4 months worth of expenditure as a safety net before making any investments. You also need to consider your time horizon of investments, whether you want to keep for short term or long term. The easiest way to start will be with robos such as Stashaway as it is fuss-free management with a small management fee.
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Investments

Loans

Is it better to pay back car loan or invest the money? (if i now have the sum to fully payback)?
Lee John
Lee John
Level 5. Genius
Answered 32m ago
If you have no short term immediate need for the money ($30k) and your investment returns cannot beat the interest on your loan, then best to pay it off earlier, assuming there's no early repayment fee. If the interest is low, or have hefty early repayment fee, then it'll be better to invest them.
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Career

What is the craziest thing you have ever said or done at an interview and still managed to get the job?
Lee John
Lee John
Level 5. Genius
Answered 35m ago
Ask this on another anonymous forum, will have more replies.
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