Author: Seedly

12 Hacks To Save Money On Your Wedding

Weddings are no cheap affair. Before tying the knot, you’d likely have put the deposit down for your BTO, and that would have burnt a hole in your pocket. With so much money on the line, it’s always a good idea to save some cash. In Singapore, a survey shows that the average cost of a wedding comes around $30,000 to $50,000. That’s enough to fund a local university education! Is it worth it to spend the equivalent of your tuition fees on just one day? Sure, it may be the most important day in your life. But think...

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Why Should I Worry About Interest Rates?

A post shared by one of our members on Seedly Personal Finance Community opened up a discussion regarding yet another interest rate hike at the end of this year. With the second interest rate increase of 1.25% implemented this year, many people are not sure what this means for everyday Singaporeans. What some of you may not know is that interest rates have a larger impact on our lives than we think! Here’s how it affects us: Home Loans Increase This affects 90.8% of Singaporeans, with home loans being one of the highest forms of loans on the population that owns...

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SingTel TV vs StarHub TV: Which TV Package Should You Get?

I remember having fewer headaches when StarHub was the only one providing paid TV back then. Now that Singtel TV has unpleasantly disrupted the market, which will be the suitable paid TV plan for you? Key Takeaways Both SingTel TV and StarHub TV do not offer any identical package to differentiate their products for consumers. General/ Family Package: SingTel TV provides a general cheaper package at S$28.80 per month compared to S$33.17 by StarHub TV. Genre-specific packages with basic channels: StarHub TV has a price competitive advantage when it comes to Malay specific package. They are also the only one...

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Which To Choose: Credit Card vs Personal Loan

If you check out our articles, we have so many posts on how to clear your debts, which credit cards to choose or even misconceptions that people have about loans but as someone new to personal finance, my biggest question before reading such articles would be which loan should i take? This article will focus on the two most common loans, credit card and personal loans! Credit Card or Personal Loan Credit Card A credit card is also known as “revolving debt”, you have a pre-determined credit limit set by your financial institution. At the end of every month, you...

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Working Adults: Easiest Ways To Invest A Monthly Sum For Beginners

A good habit to cultivate Chances are if you are reading this article, it would mean that you are keen to grow your money in over an extended period on a regular schedule. Before we bring you through this simple 5-minute guide, let us answer 3 key questions. Full disclaimer: We are not paid or sponsored to write this. So you can trust that this is a simple strategy we advocate for beginners who are ready. (Read: When should you begin investing) Why Invest? You aim to beat inflation, currently at around 1.9% a year. Thus, you can either put...

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How to Earn A “Free” Around-the-World Trip With Miles

Disclaimer: This is one way to do it, but a very expensive way indeed… word of caution! If you have ever dreamed of going on an around-the-world trip, you were probably daunted by the thought of spending so much money without making an income while you are traveling. But did you know there’s a way to get free around the world air ticket just by using your miles? For instance, Singapore Air offers an around-the-world ticket through Star Alliance for 180,000 miles for an economy class seat. But how exactly are you supposed to earn this astronomical amount of...

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Answering Singaporean’s Question: How much can you save, holding your wedding at a coffeeshop?

The median cost of holding a wedding is S$39,500. This is with the assumption that 60% of the banquet cost is covered by the red packets. Should all your friends and family members decide to not give you Ang Bao, the cost will increase exponentially to S$62,500 While everyone assumes that a wedding involves a standard procedure of bridal package, expensive banquet and wedding photography, should you break the tradition and have your wedding at a coffee shop, here’s how much you can save! P.S. This is provided that your partner and parents of both parties agree to it. TL;DR – Save S$31,359.26...

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The Real Reasons Why Personal Finance Is Not Taught In Singapore Schools

A personal confession “I did not feel financially ready when I graduated from Business School” That was how I felt as a working graduate personally after 25 years growing up in the Singaporean education system.  I realised this trend only as I was working on financial articles daily and interacting with my peers around me. I was curious that as a first-world developed nation, financial literacy seemed to be lacking at many levels. And even more worrying, if a finance graduate did not fully understand the various money potholes that lay ahead… how much worse would it be for...

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How Much Savings Should An Average Singaporean Have Accumulated By A Certain Age?

Put aside all the “propaganda” you see online today on investing, trading and fanciful financial products. The first step towards financial freedom should always start with savings. If you are someone with a great level discipline to save, great! Kick off your savings routine today! If you are someone who lacks the discipline to save, set up your own system to set aside a portion of your money before it reaches the “leaky bucket”. How much savings should I have accumulated? To answer this question, I probably have to blatantly visualise your life in front of you. Instead of...

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How To Know: The Right Path To Financial Success Before 30

You have finally entered the working world, you start looking at your savings and you are wondering if you’re ready for the big hurdles in life like marriage, buying a house or if you’re even capable to pay off your student loans but how do you know if you are on the right track? This checklist helps you gauge your financial stability or help you get started on being financially stable. 1. Financial Independence- Stop Depending On Your Parents The first thing to check if you’re financially sound is to be financially independent, being in your mid-20s, you do...

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The Average Singaporean Household Income: Where Do You Stand?

We wrote about what is a good pay in Singapore, where a typical Singaporean worker’s median monthly salary stands at S$3,500 (excluding employer CPF). While it is good to know where you stand when it comes to your individual salary, a better number to look at will be your household income. The average monthly household income measures the combined incomes of all the people living under the same roof. It includes every form of income such as salaries, employer’s CPF wage contributions and investment returns. Key Takeaways: The average Singaporean household income is S$8,846  Household income is the sum...

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Top 6 Ways You’re Spending Way Too Much On Your Car

Are you spending more on your car than you need to be? Or are you looking for ways to cut down on your car-related expenses? We’ve compiled a list of the top mistakes car-owners in Singapore are making that cost them real dollars every day. 1. Paying high-interest rates on your car loan Because cars are so expensive in Singapore, most prospective car owners finance their car purchase by getting a car loan, and then face the prospect of paying off that debt, plus interest, for the better part of the next 10 years. But did you know that you could...

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Cheat Sheet: Best Savings Accounts With No Conditions 2017

So you want to save without conditions? Previously, we wrote an article for best saving accounts for working adults, but most of the time, the interest tiers come with many conditions like Salary crediting, Paying bills and Credit Card spending. Now, what if you wanted something simple and easy to understand? This is the article for you. Who is this article for? Self-employed, Freelancers Property agents or Financial Planners Couple Joint Accounts (JA) People with extra cash who may want to park somewhere (sizeable emergency or opportunity fund) Key Considerations: Simple, better interest rates which beat the normal 0.05%...

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Pay Off Your Debts: Schemes That Help You Get Out Of Debt

In an article some time ago, we talked about how you can clear your debts effectively, we covered questions such as “do I clear my debts starting from the smallest or largest debt” by providing a step by step process as well as identifying the pros and cons of each method but before you do that, how do you know if your debt is good or bad? Good Debt vs Bad Debt If you are just starting out your financial journey or your first time learning about debt, you may be surprised that not all debt is bad but how...

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What Are The Best Products For Short, Medium and Long-Term Investors?

If you are not a crazy shopaholic, there should be a point where you accumulate a good amount of savings with no idea of what to do. TL;DR- “Given X years to invest, what is the best investment product?” Splitting up the investment horizon into 5 years, 10 years and more than 10 years, here are some of the investment product one can look at. Further Reading: Pros And Cons Of Each Product Point to note: Taking inflation to be 1.9%, we aim to have our investment returns exceed that percentage. Investment products for 5 years or less:  Short-term Endowment Plan Pros...

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