Author: Singapore's Budget Babe

DBS Be Your Own Boss (BYOB) IS more superior than OCBC 360

I’ve been receiving quite a number of enquiries regarding my previous post, where I highlighted DBS’ latest Be Your Own Boss promotion as an extremely good deal. Naturally, there were people who were skeptical. I know, I know, mindsets are hard to change. It has been a few years since OCBC 360 became the first bank to introduce such high-yield savings, and people have been very skeptical of all the other accounts that followed after. Stubbornly still believing that OCBC 360 is the best, even though they’ve changed their T&Cs to reduce the interest time and time again. I’ve...

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Get 4% p.a. interest with DBS Be Your Own Boss (BYOB)!

Looking for a savings account that doesn’t require you to jump through too many hoops for higher interest? If you struggle to meet the $500 monthly spend requirement on your credit card, there’s a new product on the market that you might want to consider. A few readers recently alerted me to DBS’ newest promotion – the Be Your Own Boss (BYOB) savings initiative – and asked me what I thought about it. Nothing gets my attention like another high-yield saving account, so I reached out to DBS and dug out more information. Here’s my take! The premise is...

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REITS Investing 101: Understanding the different types of REITs

For the dividend investor, real estate investment trusts (REITs) have been extremely popular over the last decade for their, giving both capital and dividend gains to investors who hold them. But before you jump onto the REIT bandwagon, you need to first understand what the different types of REITs are and which you prefer to invest in. Retail REITs One advantage of retail REITs is that for most investors, it is easy for you to do your scuttlebug due diligence by simply going to their malls. Take some time to observe the location, mall architecture, tenant mix and type...

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How much commissions do insurance agents earn?

Everyone’s talking about how a former AXA Life Insurance agent, RameshKrishnan, has been awarded $4 million in damages. High Court Judicial Commissioner George awarded this based on the establishment package offered by Prudential:        A commencement allowance of $675,000 +       An initial monthly salary of $65,625 +        A salary of $43,750 for the next 12 months. In other words, we can look at this as a $4 million annual paycheck that was given out. Many had a lot to say about the absurdly high pay. Credits: The Straits Times Singapore Facebook page The key question I...

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Does losing money make you a bad investor?

Does losing money make you a bad investor? Rather than get demoralised over losses, I believe that losing money is part and parcel of one’s investment journey for greater growth and insights. After all, some of the best lessons I learnt were when I lost money (such as the truth about ILPs). While I’ve had some incredible gains in my investment journey thus far (13% in 4 months on a recent stock I sold, for instance), I’ve to confess that it hasn’t been without any losses either (obviously!) I don’t talk too much about my losses on my blog,...

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Best Fixed Deposit accounts in Singapore right now

For those new to investing and looking for a way to grow your money while taking as little risk as possible, you can first consider either high-yield bank saving accounts (like UOB One, OCBC 365 or BOC SmartSaver), fixed deposits (FD) or government bonds (like the Singapore Savings Bonds). For experienced investors, you aren’t the only one finding it tougher to find value buys in today’s market conditions. I’ve been sitting on a growing cash pile too, and there are lesser value stocks as compared to the same time in 2015 when China’s Black Monday happened. While waiting for...

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How I Pulled Off My Fairytale Wedding for $88 Per Guest

The weekend news had an interesting contrast – one couple was featured for spending half a million on their lavish fairytale wedding, whereas another held their own budget wedding for $100 per head instead. But while I believe in creating a memorable wedding, I personally refuse to fall prey to societal norms where Millennials spend extravagant amounts just to achieve an Instagram-perfect wedding. From bridesmaids proposals to engagement parties and finally the wedding reception, I have to admit that while they all look very fine and dandy on social media, mere mortals like myself simply cannot afford the hefty...

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How To Say No To (Expensive) Wedding Invites

Attending weddings can be a reallllllllly expensive affair.  How do you politely decline when you’ve invited to an expensive wedding which you can’t afford to attend? Let’s leave out destination weddings for now, since the cost of your airfare and accommodation for such events will probably bust …It is no secret that wedding costs are huge for the couple (Singaporean couples spend $40k – $60k on theirs), but there’s lesser talk about how expensive it can be for the guests as well. With most couples getting married in their 20s to early 30s, this usually means that many of...

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The DBS Multi-Currency Account : Save on online shopping and overseas spending !

I’m a bit late to the game, but it was only recently that I found out about the DBS Multi-Currency Account (MCA) when I went to watch Pirates of the Caribbean at the cinemas and laughed like mad after this ad played. Just watch the incredulous look on the shopkeeper’s face as he tries to process why his customer is telling him that he just made a rainbow in his pants LOL. Anyway, I digress. An account that lets me pay like a local overseas with no foreign exchange fee incurred, while letting me buy currencies at my preferred rate sounded pretty awesome to me. It is...

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IPO Analysis: Union Gas Holdings

Wow this has been a pretty busy season for IPOs thus far. The newest player to join the game is Union Gas Holdings, which will be listed on the Catalist Board. But before we delve into the analysis, let’s take a look at how the recent IPOs fared. Company / Stock IPO Price Current Price Gain / Loss Sanli Environmental $0.225 $0.335 +48.9% World Class Global $0.26 $0.26 0% HRnetGroup $0.90 $0.84 -6% NetLink $0.81 ? ? Union Gas Holdings $0.25 ? ? Details: – 60 million shares for offer at $0.25 each – 1.28 million public tranche – IPO closes...

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Freelancing? Here’s how you can still get approval for a home loan.

The gig economy is growing, and even the Ministry of Manpower (MOM) has now acknowledged the challenges faced by freelancers in Singapore (read the speech here). Aside from the insecurity that comes with not having a fixed monthly salary, many self-employed individuals often find their applications for personal loans rejected. If you’re a freelancer and looking to build your own home, here’s how you can improve your chances of getting approved for a home loan. The good news is, there are many banks in Singapore that provide self-employed individuals with home loans. Today, about 14% of the Singapore workforce...

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IPO Analysis: NetLink Trust

I was alerted to NetLink’s IPO by my broker, who contacted me two weeks ago to offer private placement shares. The IPO officially opens tomorrow for public subscription, and there’s been a lot of media hype over what is being said to be the year’s “biggest IPO”. I’ve started analysing the IPO prospectus last week but sat on this post for the longest time because its insanely verbose and boring 516 pages put me to sleep on a few occasions -.-Sorry to everyone who has been waiting! Without further ado, here’s my take.Details:– 2.89 billion shares for offer at $0.81...

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Recommended Books on Personal Finance & Investing

I’ve recently finished reading Millionaire Teacher by Andrew Hallam and it was a really good read! It is a title I would highly recommend to anyone who is just starting out on their journey to better manage their personal finances and get started on investing, as it covers quite a broad range of topics and is also a motivating read which will probably inspire you to read more books / websites to hone your skills further. As quite a number of you have written to me asking for book recommendations on personal finance and investing, I thought I’ll take...

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How this family got out of debt by changing their lifestyle (Reader’s Letter)

One of the biggest rewards from maintaining this financial blog is when readers write to me to share their own success stories, and recently I received a story so touching that I couldn’t not share it. After all, there’s no greater joy than the knowledge that yet another person has managed to overcome their cashflow issues and is on their way to financial freedom. This reader agreed to let me share her story here, and went another step further to detail the tips she adopted to go from debt-ridden to debt free and happy. If we could do it,...

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IPO Analysis : World Class Global & HRnetGroup

Is the stock market picking up? In just two weeks, we’ve seen 3 IPOs on SGX – usually a sign of a bullish market sentiment. And while I prefer to sell during such times, I don’t usually rule out spending on IPOs especially if their valuations are cheap or decent enough for me. Unfortunately I wasn’t allocated any shares of Sanli Group last week when the results were announced (sorry for not blogging about them – I literally finished my analysis 12 hours before the IPO application deadline and didn’t have enough time to churn out a blog post!)....

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