Author: Seedly

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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Losing Weight : How Much Does It Cost To Eat Healthy?

We all have our moments when we are either shopping for food at the grocery store or buying our lunch when we start thinking we should go for a healthier option but one look at the price and all thoughts of having a healthy meal goes down the drain. With prices of healthy food being double the price of regular meals, there’s no wonder Singaporeans are hesitant to switch up their meals. Common Misconception – Healthy Meals Are Very Expensive Having tried the clean eating diet, I would have agreed with everyone that said eating healthy is challenging not...

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What Are Robo-Advisors? We Answer 5 Common Questions!

Short answer: An easier way to invest with lower fees! In the past, mutual fund managers basically pulled together funds and charged a hefty 2-3% management fee for trying to beat the market. The fees usually eat into returns in the long run and thus the ones who benefited ultimately were the fund managers. Robo-Advisors aim to change that. Long answer: Low-cost Diversified Passive Investing Low Cost: Usually 0.5% to 1% fees are charged for total amount managed (because they are run by models and algorithms behind instead of fund managers, hence the word ‘Robo’) Diversified: Usually put into...

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Top 5 Tips For Planning Your Dream Wedding Without Compromising Your Budget

It’s no secret that weddings are becoming rapidly more expensive by the day in Singapore. However, there’s no easy way of cutting down on your costs without compromising on the ceremony of your dreams. Sure, it might be cheaper to book your ceremony not on a Saturday, but that can really sacrifice the availability of your honored guests. Luckily, there are financial tools and tips that can help you save a meaningful amount of money while still holding up the quality of your wedding. Here, we discuss some of the best recommendations compiled by our team at ValuePenguin. Use Credit Cards...

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Financial Blogs That Singaporeans Should Be Reading

“Nobody reads the newspaper anymore.” There is a mind-boggling amount of information made available online, where we spend most of our time obtaining information from. Being constantly fed with “propaganda filled” advertisements which may not be acting in our best interests Singaporeans turn to financial blogs to get an alternative (and hopefully unbiased) view. source: Cartoon Stock Seedly team shares our favourite past time reads which we believe Singaporeans should be reading and things to look out for when getting your personal finance content online. TL;DR – Different blogs for different interest Financial blog for the ladies SG Budget...

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3 Tips For Kiasu Singaporeans To Get Cheap Flights

With the holiday season fast approaching, it’s that time again to start looking for cheap airline tickets. In fact, in our Seedly personal finance community, many fellow Singaporeans were discussing what were the best times and days to book the tickets. For the kiasu travelers out there, this article is for you! Cheapest days – Tuesday, Thursday and Friday Airlines such as Jetstar, Scoot and Tiger Airways may be cheaper than their non-budget counterparts but did you know there are days that their already cheap tickets get even cheaper? Airline Day Scoot Tuesday Tiger Airways Thursday Jetstar Friday The reason for...

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Working Adults: What Are The Best Ways To Pay Bills In Singapore?

A typical working adult scenario – Paying bills In our Seedly personal finance community, we asked our members which were the best way to pay their bills in our #SavingsSaturdays discussion. Here’s what we uncovered: Nearly 100 respondents chose to pay via credit cards. We found out more strategies which we will share below.   This seems to be a recurring topic most working adults consider on a monthly basis. Especially since we take on the responsibility of paying our bills such as Utilities, Telco, TV, Entertainment, Spotify, Netflix etc. TL;DR: It’s best to Pay Bills using card to earn...

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Which Regular Savings Plan Is The Cheapest?

Here’s one of the greatest misconception amongst Singaporeans. ” I need to save up a huge amount to be able to start investing.” It is true that in the past one will require quite a substantial amount of capital before making his first investment. However, with the Regular Savings Plan (RSP), that argument is no longer valid. With as little as $100 month, average Singaporeans with little knowledge of investing can park a portion of their income with some of the safer options. What Is Regular Savings Plan? A Regular Savings Plan is one of the recommended options for...

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Save Money On Your Wedding Banquet: Credit Cards You Should be Using!

Prices of weddings in Singapore could range between $30,000 and $60,000 and that is if you keep it simple. A few articles back, a guest writer gave a breakdown on how much an average wedding in Singapore costs and an average of $30,000 alone is spent on the wedding banquet.   With the banquet taking up more than half of the wedding expenses, all the more reason we should find ways to save money when we can! Here are some credit cards that you can benefit from: TLDR; – Best Credit Cards For Different Rewards Earning Miles: Citi Premier...

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Uber vs Grab vs Taxi: Which is the Better Hailing App in Singapore?

Everyone has heard of Uber and Grab. These two apps both rank as the top 5 most downloaded app in the Apple app store, and has huge following in every community ranging from its users, media pundits and investors. But which is really the best app for consumers in Singapore for to use? We’ve collected data on pricing on both apps for major locations in Singapore, and have also experimented with different traffic conditions to get you close to an answer. Editor’s note: At the end, we share 2 very useful tools – ShopBack app and TaxiBot which helps you compare at a...

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Three Simple Steps To Start Your Investment Journey

So, you want to start investing but have no idea where or how to start. We have tons of articles that will help you get into investing! However, sometimes we just need a basic and easy introduction into investment to get us started. So, here are some simple steps that will help get you started! Step 1: Save Up! This is the most important step, savings is the root of your financial planning. Get this right and you should be good to go! Some banks such as FRANK by OCBC provide low volatility investments allows you to start investing...

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Working Adults: Should I Invest A Small Sum Regularly Or A Big Sum At One Go

“The best time to plant a tree was 20 years ago. The second best time is now”. Be it S$100 or a million, it is always good to start early. TL;DR- 3 key takeaways STI ETF: From past year data, lump-sum investors benefit if they invested before February 2017. Other than that, a regular monthly investor wins. For beginners: the dollar-cost averaging method such as a Regular Savings Plan can help beat advanced investors. For advanced individuals: knowledge can definitely help cut the cost of his investment and gives him an advantage in his investment positions. What is dollar-cost averaging?...

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