Author: Singapore's Budget Babe

Your Chances of Winning The TOTO in Singapore

With the jackpot for this Friday’s TOTO Hong Bao draw at $13.9 million, even those who typically never gamble at the Singapore Pools have now lined up in queues just to try their luck. Including yours truly (haha!). While I did it purely for fun, this prompted me to look into the statistical odds of winning the TOTO. Disclaimer: Before you jump to buy a TOTO ticket for the Hong Bao draw, take note that more people buying also means you’ll be splitting the prize pot with more people for the same number, given the same probability. In other...

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5 Important Questions To Ask Your Partner Before Your Next Big Step

With Valentine’s Day approaching, many of us will be celebrating another milestone in our relationships – especially for those of us who are in it for the long term. Frankly speaking, the thought of committing to one person for the rest of our life does seem a little intimidating, but there are some steps we can take to make the road ahead more smooth-sailing. At the core of your discussions for a future together, experts recommend that financial considerations should be at the heart of everything you do. If you’ve not discussed these things with your partner yet, here...

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Should You Buy SMRT Stocks Now?

Yesterday, Mothership posted a viral post focusing on SMRT’s huge gains in profits. At a preliminary glance, I immediately thought, “Wah, if this is true, then I better buy into the stock now!” But then another voice in my head said, “Don’t make the mistake of focusing on the stellar results of one quarter. Check whether such a performance can be sustained before you rush to buy.” SMRT shares climbed almost 3% within a day after the results were released, but I’m laughing at those who jumped to buy so soon after the announcement instead of doing a further forward analysis...

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This Is What Could Happen If You Buy High Dividend Stocks Now

Many Singaporeans are attracted to the idea of dividend investing, especially as a way to generate passive income year-after-year with minimal effort. We typically refer to them as dividend investors. Many of them chase after stocks yielding high dividends, especially when the rates are much higher than the interest offered by your bank or fixed deposits. It is easy to see why. Imagine if you bought 50,000 shares of Rickmers Maritime at $0.205 for a total of $10,250 (excluding brokerage fees). At a dividend yield of 14.3%, you would be getting $1,466 back every year – within 7 years...

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Your Guide To Healthcare Insurance in Singapore

On top of the coverage provided by your employer and MediShield Life, here’s what you must know about healthcare insurance in Singapore. When I first started buying my healthcare insurance, I couldn’t find any satisfactory resources to help educate me on what types of policies were available, what was necessary, how much should I be spending, how do the plans by private insurers work on top of our MediShield (now MediShield Life), etc. If one is not careful, we could potentially end up like this Singaporean who chalked up $85,000 in hospital bills and whose claims were rejected by...

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This Singaporean Lost A Six-Figure Sum in the Stock Market in 2015

A Singaporean investor lost so much money last year in stocks that he could have bought a 5-room HDB flat if he hadn’t invested instead. He wasn’t the only one. When the markets opened this year, over $12.4 billion was wiped out from just 5 of the world’s richest folks. Credits: The Straits Times Given such circumstances, would you still dare to invest today? I was quite intrigued with AK’s recent article, which he has kindly allowed me to reference here. His guest post (found here) talks about one man’s losses in the stock market last year. Now, this may just...

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How The Financial Markets Fared in 2015 // Free BB Financial Resource Pack

A new year is the perfect reason for a fresh start! (Psst, as my way of thanks to all of you readers who have been supporting me all this while, I’m giving away a free financial resource pack as a new year gift! Read on to find out more! Huat ah!) Undeniably, 2015 had been a reallllllly bad year for making money for investors everywhere. Stocks, commodities, currency funds are all in the red, and the meagre returns in bonds are barely keeping up with the rate of inflation in the global economy. That wasn’t always the case. The first half...

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Financial Resolutions You Can Achieve in 2016 (Reader Challenge)

Make 2016 the year you finally get your finances sorted out! Some friends and readers have written to me about how they find it hard to achieve their own financial resolutions which they had initially set last year after reading about my story. As a result, I decided to come up with a list of beginner financial resolutions that are not only extremely achievable, but will also set you in good stead for your finances in future years. Last year, a number of readers were reposting my article on how I saved $20,000 in 2014, making it their resolution for...

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2015 Review: Did I Meet My Financial Resolutions This Year?

I’ve been receiving some very encouraging emails and comments on my previous post on how I managed to break my own record and boost my savings to 150% of the amount saved last year; thanks guys for all your support! Moving on, I wanted to do a quick reflection on how I fared for the financial resolutions I made in 2015: 1. Save more than $20,000 – ACHIEVED! Cutting down on my expenses helped me to save an additional 10% which wasn’t a lot, so I did some sideline projects and sold off items on Carousel to help get some...

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How I Managed To Save 50% More Than I Did In 2014

2015 has been a year of great harvests (and plentiful learning) for me. After having gone viral with my virgin post in December 2014 and being known as “that girl who saved $20,000 in a year” on a fresh graduate’s pay, I resolved to try and break my own record for 2015. A lot of readers wrote in to ask me to share more about my spending habits, but in 2014 my expenses were recorded in different apps, so it was difficult for me to simplify and break that down. This year, however, I stuck to just one app...

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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...

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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...

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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,...

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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...

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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...

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