Author: iMoney - Singapore

8 Nightlife Spots That Won’t Break The Bank At This Year’s Singapore Night Festival

The Singapore Night Festival returns once again to light up the Bras Basah-Bugis precinct during August 17 to 25. As with previous years, there will be spellbinding light installations to explore, as well as live performances by local and international artistes. This year promises a more immersive experience – visitors will be able to interact with particular acts, performers and art installations. You would be able to, for example, pedal a bike to ignite a shower of embers or light up graffiti walls by activating motion sensors. If you’re taking part in the festivities this year, there are plenty...

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When Should You Use A Credit Card To Fund A Small Business?

Funding a small business with a credit card goes against conventional wisdom. After all, credit cards are essentially short-term loans with very high interest rates, and – depending on the credit limit assigned to your business – may not even offer you a substantial loan amount. To a small business with little capital, turning to a credit card for funding might seem like a risky option, only to be considered when all other alternatives have been exhausted. Conventional wisdom is not always right, however. When wielded wisely, a credit card can actually be a sensible financing option. Here are...

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8 Excellent 4-Star And 5-Star Hotels You Can Get For S$100

Singaporeans are avid travellers. According to a 2017 survey, Singaporeans made an average of 5.2 trips in a year – that’s a holiday about every two months. Luckily, the strength of the Singaporean currency means that your dollar can stretch quite far in certain places. In fact, in certain areas of the world, you can score luxury lodgings without breaking the bank. Here are eight affordable 4-star or 5-star hotels you can get for just around S$100. [block type=”tips” title=”What exactly is a 4-star or 5-star hotel?”] Hotel rankings aren’t an exact science – there isn’t an international, standardised...

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Still Uninsured? Get The Coverage That Suits Your Lifestyle Today

Planning for your insurance needs can be frustrating. There are a ton of different insurance products out there, each laden with complex jargon. It’s enough to put someone off signing up for an insurance plan altogether. Not to worry, we’ve summarised the key types of insurance you may need to consider at different life stages: In your 20s Getting insurance probably isn’t the first thing on your to-do list upon stepping into the working world. You may be occupied with other financial obligations – such as your education loan – or otherwise be more interested in other aspects of...

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How To Fund Your Small Business In Singapore

Got a great idea that could change an industry, or simply looking to break free from the shackles of employment by being your own boss? Whether you have a startup or a regular small business in mind, you’ll need capital for launching and growing your business – or even just to tide you over rough patches. Here are a few ways you can fund your small business in Singapore. 1. Government grants and equity financing schemes Singapore places 12th globally in overall startup ecosystem rankings, in part thanks to the significant support provided by the government. Singaporean startups have...

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Here’s How Much You’ll Save By Buying Second-Hand

Depending on which consumer camp you belong to, the phrase “second-hand” usually evokes one of two sentiments: a great opportunity to save some money, or…mild disgust and scepticism at the prospect of using items that have been worn, handled, touched and groped by past owners. However, buying second-hand is better for the environment and, of course, can save you a ton of money. If you’re worried about the hygiene aspect of buying second-hand, or if used items won’t be as reliable as new ones, here’s good news: many items are easy to sanitise to remove unsatisfactory signs of past...

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How Does The Cost Of Living In Singapore Compare To Malaysia?

Once again, Singapore has been crowned the most expensive city in the world for the fifth year running. In particular, it’s the most expensive place in the world to buy a car, and the third most expensive place globally in which to buy clothes. The cost of living in Singapore is sometimes compared to that of its closest neighbour, Malaysia. At first glance, after factoring in the currency conversion rate (1 Singaporean dollar is equivalent to RM2.95 at the time of writing), the cost of living in Malaysia would seem much cheaper to a Singaporean. However, once you take...

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Here’s Why You Should (Or Shouldn’t) Invest In The Straits Times Index ETF

If you’ve just started working, and you’re looking to kick-start your investment journey, you may have already heard of the Straits Times Index (STI) ETF. It’s an appealing proposition for the beginner investor: just park some money aside every month, and passively wait for the magic of compound interest to build your nest egg over time. However, it may not be as simple as that. Before you start investing in the STI, here’s what you need to know about it. What is the Straits Times Index ETF? An Exchange Traded Fund (ETF) is an investment fund that pools investors’...

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2018 Cooling Measures: How More Much Stamp Duty And Down Payment Will You Have To Fork Out?

Soaring home prices have once again prompted the government to introduce certain cooling measures to the property market. If you were planning to purchase a property with a bank home loan, these measures can mean forking out considerably more in stamp duties, especially if it isn’t your first property purchase. Here are the measures that have been imposed: Measure 1: Higher Additional Buyer Stamp Duty (ABSD) rates Liable buyers will now have to pay an additional 5% in ABSD. The ABSD is an additional stamp duty that liable buyers will have to pay, on top of the existing Buyer’s...

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How Realistic Is An Early Retirement Goal In Singapore?

Saving enough to retire in one of the world’s most expensive cities can be hard. Saving enough for an early retirement is even harder. However, if you harbour the dream of reaching financial independence before the statutory retirement age, here’s what you need to know about retiring early in Singapore. How much do you need to retire? The minimum age of retirement in Singapore is 62, although you can be eligible for re-employment up to age 67. So, how much do you need to retire, anyway? A much-touted rule of thumb in the U.S. is that you need 70%...

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When Does A Personal Loan Make Sense?

This article is sponsored by Standard Chartered Bank (Singapore) Limited (“SCBSL”).  A personal loan can be a boon in times of financial need. Although there are costs associated with taking out a loan, the advantages of doing so can outweigh its monetary costs. Here are four such situations in which getting a personal loan may make sense: When you need to finance home improvement If you own a home, you probably have a list of things you’d like to upgrade, renovate or repair. However, home improvement isn’t cheap. According to renovation platform Qanvast, renovating an entire 3-room HDB flat...

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The Best Shopping, Dining And Furniture Deals For GSS 2018

Prepare your wallets – the Great Singapore Sale (GSS) is back again. From June 8 until August 12, you’ll enjoy deep discounts on dining, retail stores and e-commerce sites. However, wading through all the deals being offered can be a daunting affair. To help you out, we’ve compiled a list of some of the best GSS 2018 deals all in one place: Retail and shopping If you’re looking for clothes, gadgets or even web hosting, you’ll want to snag these deals. Promotion Valid until AXTRO Sports 15% off all Jabees, LifeSense, Tile and TrackR products 12 August 2018 Beauty...

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5 Tricks You Need To Know To Score Cheaper Flights

You’re probably on the constant lookout for discounted airfare. After all, Singaporeans are frequent air travellers – in 2017 alone, there were over 8 million outbound departures made by air. That’s an impressive figure for a city-state with a population only of 5.6 million. Unfortunately, the pursuit of cheap flights sometimes leads people into practising archaic rituals that don’t actually work, such as buying plane tickets on a Tuesday or clearing browser cookies. Fret not, however – here are five ways you can score cheaper flights that actually work: Time your bookings One of the most effective ways of...

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5 Things Singapore’s Millennials Need To Know Before Buying Their First Homes

      Everyone has things they wish they had known beforehand. When it comes to buying a home, you may make a few mistakes you’ll come to regret. Occasional blunders are to be expected, but you’ll want to limit them – buying a home is, after all, a major financial transaction that will impact the way you live for years to come. If you are a millennial in Singapore who’s been itching to move out from Mum and Dad’s, buying your first home can be even more daunting. Fortunately, we can use our collective experiences to help each...

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4 Factors That Can Cause Your Debt Consolidation Plan To Fail

If you are struggling to repay your debt, you may be considering a debt consolidation plan (DCP), or might have already signed up for one. A DCP helps you to combine all your debts into a single loan. This makes paying off your debts a simpler affair as you do not need to keep track of all the different loan types, interest rates and due dates. In addition, there could be savings on interest charges if your DCP offers lower interest rates than your existing debts. While a DCP can be an excellent tool to help you pay down...

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