Author: iMoney - Singapore

3 Things You May Not Know About Your Insurance Agent

You might already have noticed this, that the term ‘insurance agent’ has long been replaced by fancier versions such as ‘life planner’ or ‘financial advisor’.  It’s not hard to imagine why they need an image overhaul. Insurance agents have, for the longest time, evoked some sort of a mixed love-hate response. Some people want to avoid them unless absolutely necessary, and some have truly built a good relationship with their agents and trust them to dispense sound financial advice and suitable product recommendations. Before you go shopping for an insurance policy, there are things that you need to watch...

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Here’s Why You NEED to Have Good Credit Score

Credit score is an integral part of our everyday lives now. From credit cards, auto loans to mortgages, credit has not only brought us convenience, but also helped us in achieving many financial goals such as owning that dream house or car. It is important for you to build and keep a good credit score in your financial life. A credit score is a number that indicates how likely an individual is to repay his debt. It is a major consideration used by banks and lenders to determine if they would approve your credit or loan application. Having a...

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Boost Your Retirement Fund With The Supplementary Retirement Scheme (SRS)

Diversifying the way you save for retirement is usually encouraged, and that’s where the Supplementary Retirement Scheme (SRS) comes in to help you scurry away some money with pretty good additional perks. If you live in Singapore, you’ve probably heard a gazillion times that it’s never too early to start planning and saving for retirement. It’s not surprising since a survey by HSBC found that seven out of 10 people working in Singapore above the age of 45 would like to retire within the next five years. Early retirement requires major pre-planning and if you are part of the...

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How Much Does It Cost To Give Birth In Singapore?

Parenthood is surely one of the most nerve-wracking yet inspiring and fulfilling experiences that one can have. The journey towards receiving a precious bundle of joy is often fraught with its fair share of uncertainties. In Singapore, one of the earliest uncertainties is the financial costs of ensuring a smooth pregnancy and delivery of the baby. Thankfully, the low birth-rate in Singapore means that the government has been rather generous with its financial aid for parents. Nevertheless, here are the usual expenses that you should expect from baby bump to delivery and beyond.  Costs can vary greatly depending on...

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Childcare Centres 101 For New Parents In Singapore

Parenthood is, arguably, one of the greatest life-changing moments that many people experience. There are the joys, worries, anxieties, and hopes that start from the day of conception. In Singapore and many other countries, parenthood is also an exercise in financial planning that can be a source of great stress and even self-doubt about whether or not you’re giving your child “the best”. The truth is, giving your child “the best” usually mean higher household costs – from the best childcare to the best food and diaper. All of these cost money – a lot of it. Childcare and...

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Your Ultimate Budget To Celebrate Singapore’s National Day 2017

It’s Singapore’s 52nd birthday, and like every year before, we can expect nothing less of a grand celebration with plenty of family-friendly events. If you’re one of the lucky ones to have gotten tickets for the National Day Parade, you’re in a visual spectacle and overload of patriotism. If you haven’t, there are still lots that you can do to bask in the glory of ‘Singaporeanism’. What’s special about Singapore’s National Day 2017? This year’s team is #OneNationTogether and there are quite a few ‘firsts’.  Fans of aerial fly-past can look forward to a signature bomb burst manoeuvre at...

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How To Get The Most Out Of The Great Singapore Sale

Brace yourselves, last-minute shoppers! The Great Singapore Sale, also known as GSS, is one of the biggest events for bargain-hunting locals and tourists alike. And if you have not done your shopping yet, you still have time to stretch your dollar at the Great Singapore Sale 2017. GSS is ending in less than two weeks’ time; August 13, 2017 to be exact. This is crunch week for all procrastinators. The days and hours to the ending of the great sale are counting down, leaving little time to finish your shopping. Here are 4 tips to help get the best...

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The Importance Of Creating A Will

  Of late, Singaporeans have been absorbed into a very significant will of a very significant family. One cannot be blamed for thinking that creating a will hardly matters when you’re the one six feet under and your heirs don’t agree with one another. However, in most circumstances, ordinary families would find that having a will makes things easier and clearer when a loved one has departed. Creating a will used to be thought of as something that only wealthy or very old and ill people do. Fortunately, more young people are aware of how early will-creation can help...

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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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