Author: Singapore's Budget Babe

The Pros and Cons of Investment-Linked Policies (ILPs)

I’ve previously written on why I cancelled my investment-linked policy (ILP), and provided another reason based on the way allocations are seemingly done in ILPs. Since then, I’ve only been getting much flak (mostly from insurance agents) about my stance on ILPs, and I’ve been pressured to write a post showing the flip side of it, since there are no bad products, but only bad advice, correct? So here’s the other side, but before you read the details, you ought to first know a few things:My stance on ILPs still hasn’t changed, and I’m still not keen on ILPs...

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Review: Standard Chartered Bonus$aver

Get 1.8% – 2.13% p.a. realistically on the first S$100,000. Salary crediting is a precious commodity. Many of the banks reward you if you do credit your salary into your high-yield savings account with them, but with so many options and only one salary credit choice, which one should you choose? For those of you who earn more than $3,000 and spend at least $500 each month on a credit card, you have two options to choose from: OCBC 360 or Standard Chartered Bonus$aver. Notes: UOB One is another fantastic option, but you could still qualify for the bonus interest...

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Critical Illness Coverage – Are Term or Whole Life Plans Better?

Which is better when you need life and critical illness insurance – BTIR or a whole life plan? A part of being financially savvy involves outsourcing your biggest (financial) risks to a third party (an insurer), but you’d want to make sure you get the best coverage that you need for the least amount of premiums. But when should you review your life insurance plans? Here are the different life stages where it’ll be good to review your protection coverage and what you need: When you get married (increase protection) When you have kids (increase) When your parents are no...

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Review: DBS Live Fresh Card

One of the most underrated cards in the market with 5% cashback. It’s an open secret that I’m always on the lookout for the best cashback cards, so when a reader who has recently switched to the DBS Multiplier account recently messaged me to ask which credit card I would recommend for her to pair with the account, and when she told me she preferred cashback over miles, I immediately suggested that she look into the DBS Live Fresh Card. “DBS Live Fresh? Is that a new card?” was her response. I’m actually surprised more people aren’t talking about...

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What I Learnt from IN THE FOOTSTEPS OF MASTERS: Going Beyond #myfirsttrade

I spent my Saturday at an investment conference jointly organised by DollarsAndSense and InvestingNote, and this is what I learnt. The event had several notable speakers, particularly Terence Wong of Azure Capital (recently featured in The Sunday Times “My Money & Me”) and David Kuo of The Motley Fool (who appeared looking exactly like the Motley Fool’s logo with their special hat), and was aptly titled: IN THE FOOTSTEPS OF MASTERS: Going Beyond #myfirsttrade I attended the conference with my son (financial education starts young!) and these were my key takeaways: The youngest investor in the room. Nate has...

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Goodbye CIMB, Here’s the next best Credit Cards in Singapore for 2019

Bad news for the cashback folks – several cashback cards have changed their terms in the last few months, and what used to be attractive is barely so anymore. Yes, I’m referring to the OCBC 365 card, CIMB Visa Signature and CIMB Platinum Mastercard. I’ve written about the first change before last year (read it here), so I’ll zoom into what CIMB has done recently, and why their cards have gone from stuff I was actively recommending to something I’m gonna ditch now. Notable changes in the respective cards T&Cs come 5 June 2019:CIMB Visa Signature Definition of “Online...

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Battle of the Cards: Travel (SingSaver)

Inspired by Avengers: Endgame, SingSaver is currently running a Battle of the Cards campaign to find out what’s the best travel, cashback and rewards card in Singapore. Here’s my take. The current battle (till 12th May) is for the travel category, where they’ve pitted the following favourites up against one another: Frankly, I’m really only a fan of two of the above cards, so I’m not gonna shout out for the other two cards just for the sake of this campaign. So I’ll let you know why my vote is on the UOB PRVI Miles Card, and why I...

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My Review on MoneyOwl Investment Offerings

Singaporeans now have the option to invest in a low-cost and evidence-based investing approach, with a choice between 5 portfolios tailored to your risk appetite and future objectives. I was introduced to MoneyOwl last year, and you can see my thoughts on them here. To sum it up, what makes them different is that they’re: 1. A strong team with history and a reputation for ethical businessAs a joint venture between NTUC Enterprise and Providend, both of which enjoyed stellar reputations for ethical business and doing good, this means the team servicing your investment portfolio is much stronger than...

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The (revamped) DBS Multiplier Account – Yay or Nay?

DBS has just announced several changes to their Multiplier account. What do these changes mean for you? For those unfamiliar with the DBS Multiplier account, you may refer to this previous article I wrote to understand how the account works, and what kind of interest rate you can realistically expect from it. One of the drawbacks of the (previous) DBS Multiplier account was that the bonus interest was capped at the first $50,0000 in deposits. For folks with savings higher than that amount, it thus made more sense to park the rest of your savings into another high-yield savings...

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Which Electricity Provider Should I Choose in this Open Electricity Market (OEM)?

If you’re still getting your electricity from SP Group, here’s a PSA:Time to switch, because you’ll get at least 20% in monthly savings right away(regardless of which plan or retailer you pick) Given that switching can be done in a few minutes and even online without any electricity disruption, there’s little reason for you to stick to SP Group anymore. There’s no rewards for being loyal, you guys! I’ll go through how to pick the plan most suited to your household consumption in this article for greater savings. Background: What’s happening? We all know by now that when there’s...

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Find out if a stock is profitable by using this

Here’s one of the key spreadsheets I use for analysing stocks: It makes a lot of the work easier, because all I need to do is to input the relevant financial information from the company’s annual report(s), and the financial ratios are then automatically calculated for me. If you want a solid strategy and investment framework to follow for spotting profitable stocks, I would highly recommend you use this as well. Where can I get it? This spreadsheet was designed and formulated by The Fifth Person for Investment Quadrant, which I feel is Singapore’s most underrated course teaching value...

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Find out if a stock is profitable by using this

Here’s one of the key spreadsheets I use for analysing stocks: It makes a lot of the work easier, because all I need to do is to input the relevant financial information from the company’s annual report(s), and the financial ratios are then automatically calculated for me. If you want a solid strategy and investment framework to follow for spotting profitable stocks, I would highly recommend you use this as well. Where can I get it? This spreadsheet was designed and formulated by The Fifth Person for Investment Quadrant, which I feel is Singapore’s most underrated course teaching value...

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Love is…protecting your loved ones

When we found out I was pregnant last year, one of the first things we did was to call up our insurance agent as we started looking at higher insurance coverage. It may not seem like the most romantic thing to do, but isn’t true love also about making sure your family will be well taken care of? And nothing says that more than an insurance policy (the right one, at least). That’s what NTUC Income is trying to tell us in their latest campaign (they sent me an editorial press release a few days ago selling true love...

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Love is…protecting your loved ones

When we found out I was pregnant last year, one of the first things we did was to call up our insurance agent as we started looking at higher insurance coverage. It may not seem like the most romantic thing to do, but isn’t true love also about making sure your family will be well taken care of? And nothing says that more than an insurance policy (the right one, at least). That’s what NTUC Income is trying to tell us in their latest campaign (they sent me an editorial press release a few days ago selling true love...

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I’ve a Pre-Existing Illness. What are my insurance options?

One common insurance question I often get is – I’ve a pre-existing medical condition. What insurance can I get? I’ve always been stumped by that answer, because the options were limited. Insurance is best bought when you’re healthy, because once you’ve been diagnosed with a condition, you’re likely to be denied insurance coverage because almost no insurer will take the risk, knowing that your chances of claiming a hefty sum later on in life is almost guaranteed (based on statistics). But with Aviva’s latest plan, there might just be a way to get insured now. Aviva MyCoreCI Plan was...

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