Author: Singapore's Budget Babe

This Is The 7-Year Historical Fund Performance of Singapore’s Insurance Companies

Have you ever signed up for an insurance policy, happily thinking about how you can get a large payout when your policy matures in 10/15/20/30 years time? After all that waiting, you excitedly cash in on your policy…only to find yourself disappointed when you receive a much lower payout than what you had been expecting all these years. If that scenario sounds familiar to you, you’re not the only one. There has been some discussions lately about how policyholders are not happy that they are not getting the kind of returns which they think they should be getting. The...

Read More

Why Critical Illness Coverage Is A Waste Of Money

Should I buy critical illness insurance? There are no easy answers. Many agents may try to use scare tactics (which make logical sense) to get you to purchase critical illness plans, but are they really worth it? Not in my opinion. Many agents will tell you that if you do not buy CI cover, you will not get insured against cancer, which is steadily on the rise. However, that is not the full story. How does a critical illness plan work? A CI plan pays you a lump sum of money if you are diagnosed with one of the...

Read More

5 Useful Money Tips for Christmas Shopping!

The average Singaporean spends at least $700 on Christmas gifts alone. Does that describe you as well? Don’t get me wrong. I love Christmas and I’m also guilty of spending on pricey gifts for my loved ones. One of the biggest gifts I’m eyeing this Christmas for a loved one retails for over $300, but I’m bent on getting that appliance no matter what. So what is one to do when you have limited cash, but a ton of presents to buy? Surely you wouldn’t want to be the stingy grinch that stole Christmas. With these tips in hand,...

Read More

Free $25,000 Term Life Insurance Promotion by Etiqa – Good Deal Or Marketing Gimmick?

A friend alerted me that Etiqa Insurance is currently offering a free term life insurance with $25,000 of coverage to newlyweds or new parents with a baby under a year old. It sounds quite promising, but before you mindlessly claim that freebie, you need to note that the policy only lasts for 12 months, and will pay out $25,000 if you die within this period. While evaluating this, you might want to consider these questions first: 1. What are the odds of you dying in the next year? Me: Unlikely. But who knows? Since the coverage is free, might...

Read More

Why Do So Many Consumers Find Their Medical Claims Rejected?

3 days after my post on whether one should buy private health insurance given that most of us are already covered by MediShield Life and our employer’s group health policy, the limelight landed on a colon cancer patient who was coaxed by her AIA agent two years ago to upgrade her plan together with a rider, costing her a more pricey annual premium of $2,790. This is not the first time a consumer has been misled by an insurance agent. I’ve also highlighted another incident which occurred to a friend of my friend here, where a man chalked up $85,000...

Read More

Should I Buy Health Insurance When I’m Already Covered By Both MediShield Life and My Employer?

I was chatting with a few friends previously when the topic turned to our healthcare insurance, and I was quite shocked when all of them (but one) told me they didn’t see a need to buy anything else because “MediShield is enough”. Another one asked, “I’m already covered by my company, so why should I waste money on buying additional medical insurance?” I’ve been so worried ever since that I decided to write a post on this, to educate every other Singaporean out there who might be wondering whether they should buy additional healthcare insurance. My advice? You should....

Read More

Review of Wongamania: Banana Economy

Wongamania: Banana Economy  Unleash financial monsters such as Debtzilla, Inflationsaurus and Taxopus to destroy the wealth of your competitors. Orchestrate the downfall of other elites by destroying their personal lives through car accidents, expensive divorces and shotgun babies. Do you have what it takes to survive in this cut-throat world of money mania? Call me sadistic, but when I was first introduced to the above description for a game I was about to test-play, I got instantly excited. Last week, I got invited to try out a newly-launched card game called Wongamania: Banana Economy with a few other financial writers. Now, Wongamania...

Read More

The Biggest Truths I Learnt From Rich Dad Poor Dad

I’m not the biggest fan of Rich Dad, Poor Dad when it comes to application of his book’s lessons in Singapore (such as how he defines a house as a liability when many Singaporeans have made money from their houses), but one can hardly argue against the value, not to mention popularity, of the book and how it has changed the landscape of financial education. There are also a few fundamental truths in his book that I will always look back on as a reminder to myself in my journey towards financial freedom. I’m sharing my key takeaways from the...

Read More

Build A Life You Don’t Need A Vacation From

YOLO and FOMO. Two relatively new terms that only sprung up within this century – You Only Live Once and the Fear Of Missing Out. A few fellow financial bloggers I enjoy, Mr. 15HWW and La Papillion recently wrote on this topic, and I wanted to chip in with one of the best advice I’ve ever read: My job allows me to meet many senior-ranking folks, including CEOs, MDs, Directors or Chiefs of departments. A common recurring pattern I’ve noticed is how almost everyone talk about looking forward to their next holiday. A SVP (senior vice president) I work with always...

Read More

Me & My Money: A Love Affair With Property…Is Out Of Reach For Most Of Us

This weekend’s rendition of Me & My Money in The Straits Times was hugely disappointing, as the main story featured a female tax adviser and her journey in property investing. She is also a self-proclaimed “staunch believer in wealth accumulation and prefers not to dwell on the idea of frugality”. Her first move was to buy a high-end condominium and renting it out to expats for regular income. After selling the condo in 2008, right before the property market collapsed, they went on to invest in 4 more condos and 3 landed properties. She and her husband plans to...

Read More

The Market Has Been Bleak This Week…What Now?

A month ago, I wrote about how one should not be too tempted by a stock’s 52-week low prices because I foresaw that markets would continue to fall, and advised readers to focus on getting their fundamentals right first before jumping in. However, I got a few criticisms from some readers, all of which could be summarized into: “Who does she think she is? As if she can foretell the market!” “Rather than trying to time the market, I will buy at low prices, which includes when a stock price touches its 52-week low.” Quite a number of investors...

Read More

How Not Going To A "Top" JC Turned Me Into A Straight-A Scholar

The Ministry of Education (MOE) recently released the cut-off points for junior colleges in Singapore, and things got quite exciting after blogger Mr Brown wrote about how stressful the system has become. This line, in particular, made me laugh. So if you are a 100% A1 O Level student who represented your school in an international Maths Olympiad for your Maths Club CCA, plus a school swimmer who won an ASEAN games medal, while being extremely gifted in Higher Chinese, and hail from an elite secondary school, you will have no problem. No pressure, kids and parents. No pressure...

Read More

There’s A Better Proposal Gift Than A Diamond Ring

It seems like proposal season is here again – you know, that time of the year when your Facebook newsfeed gets filled up with photos of happy couple faces…and their shiny diamond engagement ring. A market study of Singapore’s bridal jewellery market points to a growing trend of couples purchasing “premium” diamonds, which are premised on better diamond cuts (like “hearts & arrows” and quality certifications (i.e AGS or GIA)). For example, a decent Destinee diamond ring would set you back to the tune of more than $8,000. But you know what was the first thing my boyfriend and...

Read More

Are You Financially Prepared To Have A Child?

My heart ached when I read earlier today about the struggling plight of a fairly young couple in their 30s in trying to feed and raise their 8 children. While their love and sacrifice for their children is indeed heartwarming, one also needs to first consider if you can even afford to have a child in the first place. Some people view children as “poverty-inducing”, but that view is far too simplistic as it dismisses the positive effects a child can bring into their parents’ lives. This article also caught me by surprise because I can think of a...

Read More

A "Fail-Safe" Investing Method To Beat Inflation And The Stock Market

The recent market conditions have reminded me again of what people often say: it really is hard to predict the market. What if I told you there’s a fail-proof method? What if I told you this method achieved 8.1% CAGR* in the U.S. market over the past 10 years? *CAGR = compound annual growth rate 2 weeks ago, the STI Index officially entered bear territory when it dropped to under 2800 points, but stock prices have rallied again and it seems like the index has “recovered”. There are some who believe that those who didn’t invest then or in...

Read More

Like us on Facebook

Follow us on Twitter