Author: iMoney - Singapore

The Ultimate Guide To Dollar Cost Averaging

You might have come across the term ‘dollar cost averaging’ when reading investment guides or when listening to your friends talk about their forays into investment. Dollar cost averaging (DCA) is a well-known and rather common investment technique that helps mitigate risks and is often employed for long-term investments. What exactly is DCA? In dollar cost averaging, you buy a fixed dollar amount of an investment on a fixed regular schedule regardless of the price of the shares. When you use DCA, you set aside, say, S$500 every month to purchase shares of Company X. When the share prices...

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The Cost Of Infertility In Singapore

As young urban couples race ahead in their careers, the thought of setting up a family may take a backseat.  Yet, our ‘biological clocks’ don’t stop ticking just because we aren’t quite ready for the baby, and some couples may face the challenge of conceiving just when they have got everything prepared to welcome a new member into the family. Of course, age is not the only factor in fertility and there are other health conditions and lifestyle choices that can reduce fertility rates.  What, then, are the options for those who need that extra help in boosting their...

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Here’s How You Can Earn Up To S$13,000 In Side Income

Living in one of the most expensive cities in the world means that the race to scurry away money for savings or even just to make ends meet is a never-ending battle. Having a full-time job that pays well enough is a blessing, but for those who need that extra boost in income, having another job on the side can be really helpful. Not only that, even if the additional cash isn’t a matter of urgency, a side income job may help you explore an alternative career that’s on your mind. Here are jobs that you can take on...

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A Complete Guide To KrisFlyer Miles

Not everyone if lucky enough to win free tickets for a vacation. However, the next best thing is a ticket that you redeem for free with your air miles. You may have come across ‘travel-hack’ articles, where people boast about how they have managed to travel the world on frequent flyer miles redeemed from their amazing credit card spending. The trick to this is to sign up for a frequent flyer programme that allows you to earn miles easily, and also give you high value when it comes to redemption. For Singaporeans, the most obvious choice would be the...

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Top 3 International Schools In Singapore & How Much They Cost

One of the many things that keep parents up at night is the education of their children. Parents who are relocating to a foreign country may find the search for a good school to be a daunting affair. Fortunately, the dilemma in Singapore is a good one to have, as there are many international schools that offer the academic syllabi of various countries as well as differing education philosophies. To add to that dilemma is the fact that Singapore’s education system is one of the best in the world and it sits atop the PISA global ranking, beating the...

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SMRT Taxis May Be Up For Grab: What Does It Mean For Your Taxi-hailing Days?

SMRT is apparently in talks to sell its taxi business to Grab, and if all goes through, it won’t be long before the familiar SMRT taxis vanish from our roads. What’s the Deal? Why is SMRT selling its taxi business anyway?  Well, it seems that Temasek, its holding company, wants SMRT to get its act together and focus on the rail business to make the MRT and LRT lines reliable, just like they have been… many, many years ago. Not only that, Transport Minister Khaw Boon Wan has also set a new reliability target, which will be a 72%...

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5 Money Mistakes Young Singaporeans Do & Ways to Avoid It

Money management is one of the sexiest things to think about when you’re young and… living on planet Mars. Not many people get a kick out of managing their money, but think about it this way – if you don’t learn to manage it, it’ll turn round to manage you. Here are some of the most common mistakes made by young Singaporeans and what you can do to get a little more savvy with your pennies. 1. Not Having a Budget, or Not Keeping to It Not having a budget can be very liberating, and the initial burst of...

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How Much Is The Real Cost To Hire a Maid in Singapore?

Hiring domestic help in Singapore is a fairly common practice.  In many dual-income families where both parents work long hours, domestic help is often employed to cope with household chores and with taking care of the kids and old folks. If your life circumstances have changed and you’re considering hiring a domestic helper for your home, one of the first concerns you may have is the financial cost. The helper’s salary is only one aspect of it, so read on to find out how much it really costs to hire a live-in domestic helper. 1. Helper’s Salary The helper’s...

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It’s Not Impossible To Build An Emergency Fund

  We all know that we need to save for that rainy day, and many Singaporeans have had cultivated some form of practice of saving money starting from their very first piggy bank. However, as more life options and commitments enter the picture, the concept of the emergency fund can start to get a little muddled. Just how much should we save, how do we go about it, and where can we best store that rainy day stash? Why Should You Have an Emergency Fund? Some like to spend till the last dollar, some don’t like categorising their savings,...

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What Does Socially Responsible Investing Really Mean?

Fair trade products and ethically responsible consumption are probably not strange terms to you.  Many heavyweight companies are increasingly making sure that they engage in socially responsible and fair business practices, including paying producers and their workers a fair and just amount or purchasing raw materials that are obtained from sustainable sources. Socially Responsible Investing (SRI) runs along a similar vein, and investors consciously put their money in companies that create a positive impact in society. [block type=”content”]In the past, this meant something as simple as not investing in tobacco or firearms companies.  These days, it could mean investing...

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What’s the True Cost of Car Ownership in Singapore? You Don’t Want to Know

Let it be said that buying a car in Singapore is about the worst possible investment decision you can make. Not only does it depreciate in value 10% each year, but also at the end of those 10 years, you have no choice but to take the Preferential Additional Registration Fee (PARF) rebate and register a new car – or scrap it! That’s unless you really love your car and want to spend another S$60,000 to S$100,000+ on renewing the Certificate of Entitlement (COE) for another 10 years. And that’s not even counting the 10% increase in road tax...

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Iskandar Malaysia is Only Going One Way – Down

Just like the California Gold Rush of 1849, investors, both local and foreign have been flocking in droves in the past three years to the region of Iskandar Malaysia to purchase property. Now, the party is over and the fat lady is clearing her throat. In the past three years, it seemed like nothing could stop the Iskandar train. Malaysia’s richest man Robert Kuok, Australian billionaire Lang Walker, Valencia’s adopted son Peter Lim, and a host of other big players had invested huge sums of money in the region. Kuok had purchased RM198.72 million worth of land last year...

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7 Proven Ways to Reduce Your Petrol Costs in 2015

According to the Land Transport Authority (LTA), the average Singaporean drives almost 19,000km a year. If the average car holds 60 litres of petrol and has a fuel economy of 15km per liter – petrol will end up costing about S$2,400 to S$3,000 a year, depending on the fuel grade (S$1.90 to S$2.30 per liter). Yes, petrol is an expensive operating cost for car owners. Fortunately, there are ways you can cut down on the annual cost of petrol by 25% or more simply by changing your driving habits. Here are 5 proven ways to reduce your petrol costs...

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Credit Cards With Awesome Sign-up Gifts & Bonuses You Shouldn’t Miss

What was the last sign-up gift or bonus you received when applying for  credit cards? If the only thing you got out of signing up for a new credit card was a stuffed animal, a cheap corporate gift (read: keychain and power bank) a S$20 voucher or nothing at all – you’ll definitely want keep to reading. Today, credit card issuers offer more than just cheap trinkets to entice you to sign up. Now, you can expect to receive plenty of awesome free gifts and bonuses including exclusive dining memberships, annual fee waivers, vouchers, electronics and luggage worth hundreds...

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How to Win the Social Battles You Face Living Frugally

There are two ways to live: how the society expects you to live and how you actually want to live. If you are fortunate, your idea of living will match that of the society. Unfortunately there are not a lot of people whose ideals match up with the ideals of the society. We have our own priorities and wants and needs, which include being frugal, but since we do not live in isolation; we end up succumbing to social pressures and start living the way we are expected to. While all else might just have a mental impact but...

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