Author: iMoney - Singapore

How to pick stocks: Economic Moats [Guest Post]

How to know what companies to invest in? This is a question many people will ask. When choosing which companies to buy, we need to know their competitive advantage against other companies. Investopedia defines economic moats as: “The competitive advantage that one company has over other companies in the same industry. This term was coined by renowned investor Warren Buffett.” An economic moat is like a company building a fortress. By having a competitive advantage, firms can continue to have profits in the long run. As a shareholder of a company, you’ll also want the company to continue generating...

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An Introduction to Forex

Forex is the world’s largest financial market with a daily turnover in excess of 3 trillion USD, and a very high level of liquidity. Forex trading has become very popular in the last couple of years – pretty sure most of you have seen a Forex ad at some point while you were surfing the internet. But what exactly is Forex and how does it work? Forex is short for Foreign Exchange, or in other words, currency trading. It has been around on an inter-bank level for a long time but recent developments in technology and online trading platforms...

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4 Things About Saving Money You Should Teach Your Kids

We have to start educating our kids about savings and topics related to effective money management at an early stage. Children are very impressionable beings, especially at a young age – the concepts that we teach them in the early stages of their life can have powerful effects later on. But how does that relate to saving money? It means we have to start educating our kids about savings and other topics related to effective money management early on. That will result in our children having a better comprehension of financial matters and give them a solid foundation to...

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Low Cost Index Fund Investing – Passive Investing [Guest Post]

I’ve heard of this term called passive investing and think that it is suitable for those who are starting out in investing or those with little knowledge on investment. In essence, this method works by you putting a fixed amount into an index fund and let the fund grow over time. A recommended fund if you’re investing in Singapore is the STI ETF. You can buy this ETF from SGX (Singapore Exchange) directly. However, currently the minimum investment for this ETF is $3,000+. Most young investors who just started working will find it hard to invest $3,000+ at a...

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Refinancing Your Home Loan – How Does It Work?

Home loan refinancing means taking out a new home loan in order to repay the old one. A lot of people decide to refinance their home loan sometimes during the payback period. But what exactly is home loan refinancing? It simply means taking out a new home loan in order to repay the old one. The main reasons why people decide to use refinancing are quite obvious, and include a drop in interest rates, shortening the loan tenure or using their home equity (the difference between the market value of the property and the outstanding mortgage balance) to cover...

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Explaining Personal Loans in Singapore

A personal loan is an unsecured loan that is meant for personal usage – this means the bank won’t ask any explanation on what you are using the money for. Personal loans have become very popular and common in Singapore in the last decade. But what exactly is a personal loan and how does it work? A personal loan is an unsecured loan that is meant for personal usage – this means the bank won’t ask any explanation on what you are using the money for. As these loans are unsecured (meaning the bank does not ask for collateral)...

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The Anatomy of A Credit Card Transaction

Credit cards are not among the most transparent products in the world, yet most of us use them on a daily basis. Have you ever wondered how they work? What processes are taking place in the background when you swipe your card? How does the retailer get paid, and how does your bank keep track of how much you owe on your credit card? In this infographic, we explain the inner workings of a credit card, as well as offer tips to credit card holders on how you can minimise the fees on their card, and what to do if...

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Credit Card Balance Transfer: 3 Pitfalls to Avoid

Credit Card Balance Transfer may cause more problems if it is undertaken without proper considerations. Credit Card Balance Transfer programmes are popular short-to-mid term options that can help reduce the amount of interest you are paying on top of your credit card debt. But although it can help you get out of a sticky situation, Credit Card balance transfer programmes may cause more problems if it is undertaken without proper considerations. For those of you who are considering a Credit Card Balance Transfer, read on to find out about some common pitfalls that you should know about before signing...

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Credit Card Balance Transfer: What It Means and How You Benefit

Credit Card Balance Transfer is the transfer of amount of money you owe on your existing credit card account to a new credit card account with a new bank Are you fed up with the increasing debt on your credit card? Don’t want to play catch-up anymore with the horrendous financial charges on your unsettled credit card bills? You may want to consider signing up for a Credit Card Balance Transfer, which can help you to significantly lower the interest you have to pay on your existing credit card balance. But what does credit card balance transfer mean? It...

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Factors to Consider When Choosing Your First Stock Broker

You need a stock broker to start investing in the stock market. If you’re planning to invest in shares, you’ll inevitably need a stock broker, who carries out the actual buying and selling of shares for you. There is just no way around it. However, it is not so simple to pick a broker, unfortunately you can’t just choose the one who charges the lowest fee. Although the brokerage fee is one of the key factors, there are various other factors to consider. In this article, iMoney explains you some of the important points that should be considered when...

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NOT Paying Your Credit Card Bills In Full? This Happens

You’ll be paying about of 24%* per annum interest on your unsettled credit card bills every time you do not make full payment! Every time you don’t make full payment you’ll end up paying about of 24%* p.a. interest on your unsettled credit card balance. Generally, a credit card serves as a financial tool empowering you to buy now and pay later, while enjoying certain exclusive privileges from a wide range of merchants. But for if you’re undisciplined, a credit card can present as a ticking time bomb that threatens to explode with enormous interest charges in case you...

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Credit Card Charges: What You Really Need To Know

Being aware of the charges associated with credit cards is definitely one of the primary steps in managing our finances In the recent years one of the primary drivers for the surge in credit card usage is the convenience that these plastic cards give us. Rather than carrying around a big wallet filled with currency notes, a simple credit card could easily be used to pay for that gorgeous dress and taking out your date for a wonderful dinner. While credit cards provide us this privilege, it does come associated with a price that most people tend to take...

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Investment: How to Assess the Value of a Company

The value of a company is usually the first thing investors in Singapore would like to know before buying shares or before embarking in any form of investment venture The value of a company is usually the first thing investors in Singapore would like to know before buying shares or     before embarking in any form of investment venture.  So how can you assess the value of a company? Nowadays, people are usually inclined to connect the value of a product or service with its relative price. If the price of the goods in question is elevated, this...

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Understanding Diversification In Investment

Almost every successful investors in Singapore set-up portfolios that are broadly diversified Without doubt, experts in the investment sector would not hesitate in stating that diversification is the key to successful investing. In fact, almost every successful investors in Singapore set-up portfolios that are broadly diversified. Nevertheless, diversification continues to be underestimated and undervalued by some other investors. Instinctively, diversification matters. Good investors should not concentrate all their wealth in one form of investment. Here is a crystal-clear example on the concept of diversification coming from the US Securities and Exchange Commission website: “Have you ever noticed that street...

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The Role of Psychology in Investment

The role of psychology in investment is often underestimated by lots of people, even knowledgeable investors, because they are simply not conscious and aware of its importance on an investor’s decision making Needless to say, psychology is one of the key elements in investment.  Yet, the role of psychology in investment is often underestimated by lots of people, even knowledgeable investors, because they are simply not conscious and aware of its importance on an investor’s decision making. If you are an investor in Singapore and you would like to know more about this topic, below are two interesting and...

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