Author: Singapore's Budget Babe

Are hackers outsmarting our banks in their security measures?

A year ago, news first emerged that hackers may have found a new way to outsmart our banks in their security measures, even after they introduced their 2-FA authentication protocol where consumers would have to key in a One-Time Password (OTP) sent to their mobile phone whenever they make an online transaction using their credit card(s). Their method? Just hack into the victims’ mobile phone, where the hackers can then access both credit card details and OTPs at one go. Apps or websites where the consumer have previously keyed in their credit card information can reveal the card details,...

Read More

Will Trump’s Policies Result in a Stock Market Crash?

Last week, the Business Times published a great article – Markets are underestimating the risks of accelerating inflation written by Neil Behrmann – which I thought was worth a second look. In the nutshell, the author believes that there will be rapid inflation coming our way, especially with Trump’s policies, and that this could be a sign of an impending market crash. I quote some parts of the article which I thought was worth sharing here (in dark grey). For those of you familiar with macro economics, you might find some of these familiar: RISKS of accelerating global inflation have been...

Read More

Housing Finances – How Much Will Your First BTO Cost You?

Although we’ve yet to apply for our BTO, I’ve been asked to share my plans and financial calculations, so here goes! Hopefully this will help those of you who need a guide on how to plan your finances for your housing needs. I previously wrote about waiting for the February 2017 BTO launch, but unfortunately neither Bukit Batok nor Sengkang appealed to my fiancé and I as we prefer to stay within 20 minutes of our parents. Nonetheless, HDB conducts a BTO exercise every quarter with projects in different towns, so we’re now waiting for the May 2017 launch instead! ...

Read More

How to get FREE money for ang baos you’ll have to give out during CNY

Aside from the food, blackjack and family reunions, my favourite part of Chinese New Year includes receiving my annual ang baos (red packets filled with money – a Chinese New Year tradition in Singapore). After all, who doesn’t like free money?! With the wedding just around the corner, this year’s CNY visitations were particularly significant as it marked the last time I can get my ang baos. After we’re married, we’ll need to start giving out ang baos instead – so that means every CNY henceforth will be an immediate deficit in our wallets. Seeing all the children get...

Read More

Women In Investing – Interviewing Lauren Templeton

Warren Buffett. Benjamin Graham. Peter Lynch. Philip Fisher. George Soros. John Templeton. Where are the females among the world’s most recognised investment legends? A look at Investopedia’s list of the world’s greatest investors shows that there’s none. Among the money managers, only 2% of hedge funds are run by women, although a large percentage of them are in the top performers of the last 10 years. One of them is Lauren Templeton. As the great-niece of respected investor Sir John Mark Templeton, Lauren grew up learning about investing as a young girl, and benefited personally from her Uncle John,...

Read More

2017 (Monthly) Money Saving Challenge

Now that a brand new year has started, this is the time where many people typically decide to improve their personal finances as part of their New Year’s resolutions. One popular savings challenge that has been attempted for many years is the classic 52 week money challenge: Week 1: Save $1 Week 2: Save $2 Week 10: Save $10 Week 30: Save $30 Week 52: Save $52 By the end of the year, you would have saved an extra $1,378. While I think this is a great way to get started on your savings, I’m not the biggest fan...

Read More

Readers’ Challenge: Financial Resolutions for 2017

Last year, I gave out a free financial pack to readers, challenging you guys to kickstart your financial journey and make 2016 the year you got your finances in order. Over hundreds of you emailed me asking for the list of resolutions, with some of you mentioning that you wanted to print and put it in your wallet as a daily reminder. I’m looking at this list again now and I still find this a great list for anyone looking to clean up their personal finance and start off on a fresh start. As we already know, saving money...

Read More

2016: Did I Meet My Financial Goals for This Year?

With 2016 coming to a close, I decided to take a look at how I fared this year and whether I had met the financial goals I’d set for myself. When I first started this blog as a financial notebook to keep an account of all my learnings on this personal finance journey, my initial focus in 2014 was all about cutting down expenses and maximising my savings. In 2015, I achieved my goals of growing my savings and cleaning up my insurance policies, but did really badly on the investment portion due to timing. I’d made the mistake of...

Read More

Asia Honeymoon Itinerary – Japan / Korea / Taiwan

TAIWAN HONEYMOON ITINERARY If you’re looking for a cheap but romantic destination in Asia, Taiwan is one of my favouritie countries to visit. I highly recommend visiting, and it is a place that I always find myself coming back to! Go during January – March if you’re a fan of the cold, so you can snuggle up with your other half while being bundled in pretty coats. It isn’t too chilly either as the temperatures feel more like air-con levels, and there’ll be sakura blooms at Yangmingshan as well if you’re keen on that! Here’s a recommended 10-day itinerary...

Read More

Be Careful of Sneaky Bank Charges

If we’re not careful about banking fees, we’ll be losing a lot more than we gain from the bank. I learnt this first-hand when I didn’t monitor a savings account I had opened during my university days. I always thought just keeping it aside would be safe, but boy, was I wrong. By the time I realised it, the bank had deducted hundreds of dollars from my account to pay for the “account servicing fee” (in other words, just keeping my money for me), as my deposit amount had dropped to below the required minimum balance. This was completely...

Read More

Giving Your Parents Monthly Allowance? Get "Filial Piety" Tax Rebates By Using This Method Instead!

Like most Asian children, I’ve been giving my parents $200 each every month. This is usually done through monthly bank transfers, but recently I made a change by giving my parents their allowance through CPF cash top-ups instead. But money in the CPF is untouchable! It took me a while to convince my parents about the merits of this move. But there are multiple benefits that eventually got me off my lazy butt to make this change. Why contribute to their CPF? While some reasons are already listed in the graphic above, the main reasons that drove me to make...

Read More

Choosing the right BTO flat

“Honey, let’s invest and buy the BIGGEST BTO flat in the MOST CENTRAL location so that we can sell it off for a huge profit next time!” Does this sound familiar? Indeed, this is the mindset of many Singaporean couples, who believe that buying and selling property is a sure way to make them rich. While BTOs are indeed one of the cheapest housing options around, biting off more than you can chew is potentially financial suicide. Since I’m getting married next year, N and I have started looking at housing options. This post is about what we learnt...

Read More

Hitting $100,000 In Savings by Age 26

I got a pleasant surprise when I checked my CPF statement recently. After 3 years of work, my CPF has accumulated to a good $51,000 sum, which therefore brings my current net worth to above $100,000 from just savings alone. The breakdown is as follows:  CPF (forced savings)  $51,000  Savings in 2014  $20,000  Savings in 2015  $30,000 I decided to revisit my old blog posts to see which tips I had mentioned then helped me to to achieve this milestone. You may read about my journey in savings $20k and $30k a year in the table links above. In...

Read More

Which Credit Cards to Use for Wedding Expenses

Singaporean couples can expect to spend at least $40,000+ if they’re getting married in Singapore and holding a wedding banquet. Many couples spend up to $60,000 as a bare minimum, especially if they opt for an overseas pre-wedding shoot in Korea which is all the rage these days (no thanks to the K-drama wave). Here’s a list of wedding items most couples typically need to spend on (based on what I was quoted): Bridal Package $3,000 Pre-wedding Photoshoot $2,000 (local) $5,000 (overseas, inclusive of airfare) Wedding Rings $4,000 Betrothal Package (Guo Da Li) $1,888 (excludes dowry cash) Wedding Banquet $20,000 (restaurant...

Read More

Review: BigFatPurse Value Investing Mastery Course

When I first embarked on my investing journey last year, I started out by reading various books on the topic and trying to pick up some skills through the self-taught method. Needless to say, I made quite a number of amateur mistakes along the way, but that’s a story for another day. After making some of these mistakes, I thought that perhaps attending investing courses would help me – after all, I get to learn from the experts, and pick their brains on how I can become a better investor. Unfortunately, I realised what I wanted out of the...

Read More

Like us on Facebook

Follow us on Twitter