Author: Seedly

Hacks To Clear Your Debts Fast And Effectively

We read many reports on the rising household debts of Singaporeans and how it is one of the highest in the region. It does not matter whether household debt is a good indication of our debt problem, there is one thing we know for sure. The average household debt of Singaporean is at S$55,112 per capita. The household debt is defined as the amount of money that all adults in the household owe financial institutions. It includes consumer debt and mortgage loans. This means that by a certain age, Singaporeans will find themselves knees deep in debt, be it from their mortgage loan,...

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Great205: Pros and Cons of Short-Term Endowment Plans & Factors To Consider

Great Eastern has re-launched their Great205 Endowment plan, and to be honest, it is rather intimidating to wake up to a Facebook feed filled with promotion shoutouts to it by respective insurance agents. While it is the Financial Advisors’ jobs to sell and maybe educate the consumers, it is our job as consumers to do our very own research. Correct mentality to adopt for consumers Do not feel pressured to take up certain policy simply because of marketing words such as “limited time only” and “while stocks last”. There is no lack of good financial products around as long...

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Migrating Out Of Singapore: Occupations, Salary and Cost of Living

Singapore is a beautiful country to live in and we are extremely lucky that we are well protected but many of us have a secret wish that if we could migrate, we would (especially somewhere colder!). Some of us may not completely agree with this and are happy with staying in Singapore but for those of us out there who think “what if?”, now is your chance to see if you might just be one step closer to migrating. Comparison Between Wages And Cost Of Living As stated by Dr Leong to Straits Times, the population statistics of Singaporeans...

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Cheap And Affordable Programs To Keep Fit In Singapore Without Heading To A Gym

How healthy are Singaporeans? The average Singaporean’s probability of dying from respiratory disease, cancer, heart disease or diabetes is at 10.1% More than 1 in 10 Singaporeans are obese. Singaporeans who are obese have a higher probability of diabetes and heart disease. 16.3% of Singaporeans smoke, and smokers are three times more likely to get stroke and heart attacks. source: Mount Elizabeth There is no need to further emphasize the importance of healthy living, especially when the cost of Singapore’s medical bill is off the roof. Unable to afford gym memberships that cost me an arm and a leg,...

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Singaporeans with Personal Debt Problem Could Take 10 Years to Pay Off Their Loans (And How They Could Avoid It)

With the rapidly growing mountain of personal debt in the country, the government of Singapore has been introducing many measures to try and control this problem. For example, a bill was proposed in Parliament earlier this month to limit the amount of loan a person can get from moneylenders. Given the latest statistics from Credit Counselling Singapore, it’s not surprising that the government is taking more steps to rein in this problem as soon as possible. According to CSS, these debtors who have overborrowed typically carry S$100,559 of personal debt on average. This was a shockingly large number given that these borrowers earn...

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Should You Cancel Your Aviva MINDEF/MHA Group Insurance After You ORD?

The quickest way to look at insurance is that everyone pays their premium which accumulates into a pool of money. This pool of money will then be used for anyone in the group that ends up having the need to claim for whatever the policy is intended for. When it comes to insurance, getting the Aviva MINDEF/MHA Group Insurance is probably the first policy most Singaporean guys purchased for themselves. A lot of us will go on to decide if we should cancel the policy after we ORD. We are not really sure if that is the right decision and...

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Long Weekend Destinations For 2018

We are left with close to one month before the end of 2017! Sadly, with us saying goodbye to 2017, we are also saying goodbye to our long weekends because with 2018, comes only 4 long weekends! I’m sure you’ve seen many articles telling you how to extend your 4 long weekends in 9 but where can you go to make the most out of it? On top of that, where can you go that is interesting but also affordable? Fret not, we’re here to help! Here’s how you can make your holiday weekends even longer with just 6...

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The Ultimate Duty-Free Singapore Guide

“Eh I’m going overseas, you want anything from duty-free?” The most common topic that would come up if one of our friends were to come back from their overseas travels. What’s not to love about saving money while enjoying the same quality (especially when they are big ticket items)! We all know that items sold at duty-free will be 7% cheaper due to the absence of GST and that would mean up to a few hundreds of dollars if you spend wisely! We will be focusing on the most commonly bought duty-free items, Alcohol, Perfume and Makeup. Alcohol Before...

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Black Friday 2017: Sites To Grab The Best Deals This Weekend

It’s that time of the year, where the US starts preparing for the biggest sale of the year. Even local retailers like Zalora, LAZADA, and Qoo10, are jumping on the Black Friday bandwagon and offering deals you can’t miss. We know how much you love your branded goods and came up with a list of sites with awesome deals. After all, if you wanted to get some brand-less item, it’d be cheaper to get it off Taobao right? Do note that most of these shops do not ship internationally, so you’ll need to use the service of a shipping forwarder...

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The Complete Guide To Winning Your Personal Finance Game

Congratulations, You made it to the starting line! It may seem a daunting task to start managing your own money. This article was written in plain simple English for non-financially trained Singaporeans to answer that first question at the back of your mind: ” How should I start my financial journey on the right track? “ Introduction This series was distilled after many hours spent with the top personal finance bloggers in Singapore and managing our Singapore Personal Finance Community. We aim to share only what is essential, answering questions that beginners often have. Ultimately we feel that this is...

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The Ultimate Salary Guide For Singaporeans

About Singapore Salaries (as of the year 2017) The average salary in Singapore is $4,056 per month. This adds up to $48,672 per annum, inclusive of employer’s CPF contribution. The latest result indicates that Singaporeans work an average of 45.2 paid hours per week. Singapore’s nominal wage increases by 4.5% from the year 2011 to 2016. The top few paying industries are accounting, banking & finance, healthcare & life sciences and information technology. Key Takeaway: Before we move on to a list of occupations and their monthly salary, here are how this information can be helpful to you: For those...

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Has the Wage Gap in Singapore Really Been Closing?

Seedly on household income In a previous article, we noticed that the median Singaporean household income is at S$8,846. This works out to be S$2,584 per household member each month. With that being said, we also noticed that for the higher income earners, their monthly expenditure is not even 1/3 of their household income, which means they will only get richer with each passing month. The lower 20% earners in Singapore however, will have an issue covering their monthly expenditure. This article by Value Penguin took a statistic spin on the wage gap between the high earners and the...

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Working Adults: Is It Possible To Break Free From The Singapore Rat Race?

Very often, you cram yourself in the crowded MRT in the early morning and wonder to yourself, what you are doing with your life. It will probably look something like this. Thoughts of #QuarterLifeCrisis or #MidLifeCrisis strike you and soon start realizing that you have been stuck in the Rat Race. Here are the 4 common methods which broadly cover the options which you can consider. TL;DR: From least to the most effort & risk: Extreme Saving: By charting out a low monthly expense and scrimping away (often promoted by the regular education system and government as this is...

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The Ultimate Guide: How Much You Need To Give Birth In Singapore

We all know having a baby is an expensive feat but how much does it really cost to give birth in Singapore. Knowing that not all pregnancies are the same, we came up with a guide helping future parents out there to know what to expect when you are expecting! Gynaecologist Fees First trimester Your first trimester begins when you GET pregnant but you will usually find out that you are pregnant when you’re 4-5 weeks in, this gives you enough time to schedule 2-3 appointments. Depending on the gynaecologist, expect your first few visits to cost somewhere between...

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Best Money Changer in Singapore: Buy or Sell? Which Column To Look At?

Looking to travel soon? On top booking of flights and accommodation, I guess the next brain draining chore will be to change your currencies. Allow us to address some of the frequently asked questions Singaporeans have at the money changer. How to change money at the money changer? Which Column To Look At? No surprise, the most commonly asked question is mainly about which column to look at. Is it the ‘Buy’ or ‘Sell’ column? A good way will be to treat the foreign currency which you wish to exchange as an object. Ask yourself if the money changer is...

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