Author: Singapore's Budget Babe

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

What Are the 5 Best Credit Cards in Singapore Now?

For an average working adult who doesn’t spend too lavishly, which credit cards currently offer the best value for your buck? In our world today, it seems like there are simply too many credit cards to choose from. With all the different promotions running at different times, it is no wonder that most consumers really have little idea on credit card(s) are the best fit for them. Often, most of us just end up sticking with the one card we’ve been using for years and have gotten accustomed to. But switching your credit cards can actually bring you a...

Read More

Credit Card Review: DBS Visa Debit Card

I’ve been seeing ads for the DBS Visa Debit Card at Somerset MRT station for quite some time now, and their promise of 5% cashback sounded too attractive to ignore. Considering how my cashback on my current credit card has only been in the $20+ range for the past few months, getting twice of that amount for my spending was a huge lure. But as usual, the main question in my head was: What’s the catch? I’m usually skeptical as most cashback promotions operate in a similar fashion – they offer you a high cashback at the beginning to...

Read More

Trump victory: Be prepared for a bloodbath in the stock markets tomorrow!

Be prepared for a bloodbath in the stock markets tomorrow. I was actually discussing with a friend as to whether we should buy some counters in the stock market prior to the election results – because a Clinton win would probably lead to a (slight) increase, whereas a Trump victory would send global stock markets plummeting. Well, at this point (Trump:Clinton is 264:215 at time of publishing), it is safe to say that we’ll most likely be seeing a Trump presidency. As it is, here’s what markets have already done: S&P 500 Index futures slide as much as 5...

Read More

Why I Cancelled My ILP (Investment-Linked Policy)

How should I read the numbers on my Investment-Linked Policy (ILP)? I lost more than 2 months worth of salary to learn this important lesson: when insurance and investments are bundled together into a single product, the consumer is often left worse off. A few years ago, when I was a naive fresh graduate in my first job, I met a friend of mine to understand more about financial planning and insurance. My knowledge then was limited – I knew I needed to invest and buy insurance, but I didn’t know what was essential to get. Furthermore, at that...

Read More

How Much Debt Do Singaporeans Have?

What’s your credit score? Did you know that the secret to getting approved for a mortgage / personal loan / new credit card really lies in how good your credit score is? I didn’t know about this when I first started working and was happily applying for new credit cards. But after learning about the Credit Bureau of Singapore (CBS) and what they do, I realised that many life opportunities are enabled only when you have a good credit score, because this gives the banks the reassurance that you will not default on your loan if they lend the money...

Read More

Here’s how you can get $1000 cashback this year

I love getting cashback or bonus interest whenever I spend on my credit cards. For instance, I was paid $20 over the last 2 months for spending on my credit card. These were expenses I needed to make anyway – my insurance premiums, groceries, movies, etc. After all, why say no to free money? If you’re like me, and are always looking out for ways to get extra money for transactions you’re already making, POSB’s latest cashback offer might just be your answer. As you might already know from my previous posts, my POSB account has been my designated...

Read More

Meet Singapore’s newest digital insurer (car owners can now keep their 50% NCD for life!)

Singapore’s new digital insurer. I’ve never seen an insurance website like this before.   A new insurer has landed in town, and there are a few benefits they’re providing which I think are a real game-changer. Beyond the new digital buying experience, you might also want to take note that FWD Insurance is now offering car owners in Singapore protection of your 50% No Claims Discount (NCD) for life. Car insurance is mandatory in Singapore for those who own a car, so it is an expense we can’t really avoid. To encourage safe driving, you get 10% NCD every...

Read More

BOC SmartSaver is the better version of the new OCBC 360 account

Ever since OCBC changed their payment terms for their 360 account, I’ve been moping about the reduction in interest payments I get from them each month, as the maximum capped interest is now only 3.05% and includes a lot more work to get that level of interest rate. The UOB One was a good welcome, BUT I eventually moved back to OCBC 360 (partly out of habit) as the requirements were a little difficult for me to meet in my current lifestyle. While a $500 spending on my UOB One card, I didn’t set up 3 GIRO payments (no...

Read More

Swiber Bond Scandal : who should the retail investors blame?

The recent Swiber bond debacle has sparked off a new debate as to whether the Singapore government should save “accredited investors” – individuals who have at least S$2 million in assets. Because they have more money than the average man, these “not-so-wealthy” individuals are being given more choices in investment products, including those that are deemed as more exotic, riskier or too complicated for laymen to understand. But does being rich necessarily equate to being smart about your money? Sadly, no. This is a tough lesson in personal finance to those who invested in Swiber bonds, who have each lost...

Read More

14% Dividend Darling Stock – A Fairytale or Nightmare?

Rickmers Maritime note holders are not happy with their latest debt refinancing proposal, but they don’t really have much of a choice but to go along now, do they? In January this year, a 14.3% high-yielding dividend stock caught my eye – Rickmers Maritime. I was tempted to buy it, but decided not to after spending some time studying the company and its business. While the yield was indeed attractive, there were too many red flags that I didn’t feel comfortable with. It then inspired me to write down my thoughts in this article, where I specifically explained why...

Read More

Fly budget, but watch out when you fly with Cebu Pacific

If you’re thinking of flying with Cebu Pacific for an international flight, I’d recommend you to spend a little more on a better airline. I generally like to go with budget airlines whenever I travel. Our local budget carriers – Scoot, Tiger, JetStar and AirAsia – have generally given me fairly good experiences so far, especially whenever I fly Scoot. They usually reach their destinations on time, and the prices paid for the service and smooth flight has always been very value-for-money to me. Over the years, I’ve also found various ways to get more out of budget airlines (read...

Read More

Plan Your Wedding in 10 Steps

Follow my journey to the biggest day of my life (my wedding) on Dayre here!  Having a headache planning your wedding? Not sure where to start? I can totally relate, now that I’m in the midst of planning my own (happening next year). Given that we all hope to only get married once, it is inevitable that most of us would be clueless on what to do! There are basically 3 easy options for couples at this stage: Sign up for wedding packages which take care of various aspects of your wedding for you. (Most expensive) DIY, but spend...

Read More

Like us on Facebook

Follow us on Twitter