Author: Seedly

Community Crowd-Sourced Personal Finance FAQ

Welcome to Seedly! We’re glad to host you here and we look forward to you meeting fellow enthusiastic members who love making smarter financial decisions in our daily lives. We have setup up this community crowd-sourced FAQ to help you get up to speed and solve some of the frequently asked questions that you may start with! The biggest personal finance community in Singapore. On behalf of the community and moderators, let us help each other make smarter financial decisions today! On Cashflow and Spending: What Bank + Card Combination do you use now? What expense tracking apps do...

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Singles Day 2017: Biggest Shopping Event And How To Be Prepared

The world’s biggest annual shopping event is upon us! Started by Alibaba in 2009, is an opportunity for everyone (not only those who are single) to treat yourself. This has been proven by the US$17.8 billion in sales generated last year. Not to worry, not only Alibaba affiliated companies like Taobao will be participating but regionally, eCommerce merchants such as Zalora, LAZADA, and Shopback have joined in! With the record-breaking sales last year, Alibaba is expecting 140,000 brands to be participating this year. Companies Participating With the day fast approaching, many Singaporeans are armed with their shopping lists as...

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Where Should Married Couples Deposit Their Salary? 

How should a married couple manage their finances together? If you are getting married or even married, this is one of the most important topics any couple should talk about. For which, I am focusing one basic fundamental question – Where should married couples deposit their salary into? Disclaimer: I certainly do not hold a degree or PhD in marriage, hence, this is entirely my personal opinion. There are typically 3 types of setup a married couple can manage their finances. Each of these setups has its pros and cons and would do well depending on how the family...

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Cheat Sheet: What Are The Best Miles Cards For Working Adults 2017

We have written so many articles on the best credit cards for working adults or young adults. However, with more cards coming into the market, we need to find out which are the best cards. Previously, we compared the best cashback cards. Now, we will look at the best miles cards! The scenarios we will focus on: Regular monthly card spending from $500 to $6,700 Less emphasis on promotional discounts Leaning towards overseas, Grab/Uber and online spending Disclaimer! Many of these cards come with extremely attractive rewards at the beginning of the month or for the first year. However,...

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6 Common Mistakes To Avoid While Sending Money To Singapore

The internet has made it very easy for us to send money abroad these days. Just a few swipes or clicks on your smartphone or PC and you will be able to remit money to your family and friends living in a foreign country. It has been a long time since Singapore established itself as one of the prime business hubs in the world. The small island nation has become one of the strongest economies in the world with its vast commercial infrastructure. Traders around the world look forward to establishing trade relations with organisations in Singapore. Ever-growing business...

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Good and Bad Ways of Using Your CPF Money In Singapore

In our Seedly Personal Finance Community, the topic of CPF has been a heavily debated one. Everyone has a different opinion on whether CPF is a good thing or a bad thing. However, the answer to this question isn’t that relevant for most people since making CPF contribution is an unchangeable fact of life for Singaporeans and PRs, at least as for now. What ways can we use our CPF? Rather, what is worth pondering on is how we can best use the fund that is sitting in our CPF accounts since this is something we can actually decide and...

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Number Of Credit Cards The Average Singaporean Should Own

We Singaporeans love our credit cards! This is proven by the fact that credit cards make up for 60% of Singapore’s payment market. Furthermore, there are 1.6 million credit card consumers in Singapore and with there being close to 8 million credit cards circulating in the country, credit card consumer owns an average of 5 cards! But how many cards are recommended for the average Singaporean? No More Than Four Based on a survey for Shopback’s Year End Shopping Fest, 31.2% of Singaporeans own 2-4 cards while 25.2% own 1-2. The ideal number of cards to own would be...

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4 Costly Grocery Shopping Habits That You Can Stop Today

Groceries represent one of the biggest buckets of spending for Singaporeans. According to ValuePenguin, the average Singaporean family spends about S$1,334 on food and beverages each month. Even if you were to avoid dining out and cook at home most of the times, feeding a family of 3 can easily cost S$1,000 on a monthly basis. While there are plenty of tips online on how you can cut your grocery bills by shopping with a list, making fewer shopping trips or clipping coupons, one of the most effective ways is actually to get rid of your bad grocery shopping habits. For...

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FB LIVE: Could This Be The Future Of Money?

It can be pretty difficult to ignore the surge of cryptocurrencies and bitcoin taking over social media and traditional media alike. Many have been describing it as the modern day gold, in the tech-infused world of today. With any good revolution, it is often split right down the middle, some claiming it to be tulip mania while others believing in its innate worth. Here are some famous supporters and critics of the digital currency, in this graphic by TechInAsia Andre Gunawan. A scam or an inevitable future? Even within our Seedly personal finance community, we have been having solid...

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The Best Credit Cards To Use Overseas In 2017

Over the past few years, the idea of going cashless has become more prominent across different countries. We find ourselves relying on our credit or debit cards to pay for almost everything. In our community, we also encounter questions such as which credit cards are the best for certain types of expenses. Recently a question popped up on credit card usage overseas and if expenses should be charged in foreign currency or home currency. Advantages: Safety Let’s face it, carrying cash around a foreign country can be pretty daunting especially when we’re unfamiliar with the currency of the country....

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Working Adults: What Are The Key Insurance Policies You Should Get in Singapore?

Insurance is your life’s GOALKEEPER – your last line of defence. If all else fails, you will need to count on your insurance to be there especially for financial woes. 3 Worst Case Scenarios: You die, your dependents (e.g family, kids) inherit your debts, loans and lose a source of income Came down with a terminal illness (commonly Cancer, and get hospitalized often with expensive treatment sessions) You get into an accident (you don’t die but face expensive hospital bills and follow up treatment) A Complicated Product? Let’s Make It Simple! A lot of people believe that insurance is like...

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How Much You Can Save By Bringing A Bottle Out For Meals

$134 Million Spent On Water Bringing a bottle from home may seem like a burden especially with a bottle taking up space and adding additional weight. You would rather not bring that bottle and buy a drink from your local convenience store. Data from research firm, Euromonitor international shows that Singaporeans spent $134 million on bottled water in 2015 which is 24% more than 2010. It may not seem like much but by bringing a bottle of water with you to lunch, you won’t have the spend that $1.70 on a drink every day but by doing so, you will be able...

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An Easy To Understand Retirement Checklist SG 2017

One of our community members asked a question on retirement planning that got us thinking, “How do I know if I am ready to retire?”. We have pulled out some of the suggestions from other fellow community members and created a checklist to help get you started! 1. Decide Your Age Of Retirement Before you can even think about your plans for retirement and what you would like to do, identify the ideal and most realistic age for your retirement. Although the actual age of retirement is 62, most Singaporeans set retirement at the age of  65 because CPF...

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Here Are Some Hacks You Need To Know For Singapore Savings Bonds (SSB)

Singapore Savings Bonds (SSB) Singapore Savings Bonds are issued by the Singapore Government, to provide Singaporeans with a safe and flexible option for a long-term saving of up to 10 years. What happens if the interest rate that is declared is a better rate than what you invested at? Let us find out more below! Advantages: No penalty for individuals who wish to get their investment back early (the longer one holds on to the bond, he is then rewarded with a higher interest rate) One of the safest product rating in the market (backed by the Singapore Government) Start...

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7 Must Have Travel Apps for an Overseas Trip

If all our overseas trips worked like they do in movies, then we’d backpack through different countries in absolute luxury, with only the bare minimum of negative experiences like getting lost or getting a culture shock. Unfortunately, planning for a journey in real-life does not involve ten-second luggage packing and check-ins that take only a few seconds. Travelling is difficult. Apart from making sure you’ve packed correctly, you also have to make sure that each and every detail of your itinerary runs like clockwork, though you could choose to take it slowly and figure things out along the way...

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