Anna Agoncillo, Author at MoneyDigest.sg

SG60 Baby Gift Celebrates the Next Generation

As Singapore marks its 60th year of independence, the nation is celebrating not just its rich history, but also its bright future starting with the littlest Singaporeans!

In honor of this milestone, all Singaporean babies born in 2025 will receive the exclusive SG60 Baby Gift, a delightful package of curated items designed to support parents and commemorate this special occasion.

WHERE TO SIGN UP?

Every baby born between January 1 and December 31, 2025, will be eligible for this special keepsake. Parents must complete their child’s birth registration before signing up for the SG60 Baby Gift at sg60.gov.sg/sg60-baby-gift.

This meaningful initiative reflects the Singapore Government’s commitment to supporting families, making parenthood a more joyous and memorable journey.

WHAT’S INSIDE THE GIFT BUNDLE?

Each package includes a mix of practical and sentimental items, sourced from local brands and designed to enrich the early years of both baby and parents:

A. Trolley Bag & Backpack – Stylish and functional, these bags help parents keep all baby essentials organized for outings and adventures.

B. SG60 Family Photobook – A beautifully designed album featuring Singapore-themed backgrounds and fun stickers of local flora and fauna to capture precious family moments.

C. Wooden Building Blocks & Toy Play Set – Classic toys that encourage creativity, problem-solving, and motor skill development.

D. Limited Edition Becky Bunny Plushie – This adorable soft toy, inspired by the Families for Life mascot, embodies values like love, respect, and commitment while promoting sensory development.

E. Straw Cup with Adaptor Cap – A high-quality feeding essential from local brand Hegen, designed to support your little one’s transition to independent drinking.

F. SG60 Parenting Journal – A dedicated space for parents to document milestones, thoughts, and reflections on their parenting journey.

G. Becky Bunny Storybooks – Engaging tales featuring Becky Bunny, crafted to nurture a love for reading from an early age.

H. Food Bib – A must-have for messy mealtimes, making feeding time fuss-free and fun.

HOW TO RECEIVE IT?

Parents who register by March 15, 2025, can collect their gift at Celebrating Our Families events organized by the People’s Association, happening on weekends in April and May.

For those unable to attend or who register after March 15, home delivery will be available from mid-May onwards.

Image Credits: go.gov.sg/SG60BabyGift

Even Singaporean babies born overseas can receive the SG60 Baby Gift, though delivery is only available within Singapore. Additionally, babies born before January 1, but with an Estimated Date of Delivery (EDD) on or after January 1, 2025, will still be eligible upon submission of medical documentation.

A TRIBUTE TO NEW BEGINNINGS

The SG60 Baby Gift is more than just a collection of items. It’s a celebration of life, family, and the journey of parenthood. As Singapore turns 60, this meaningful initiative underscores the nation’s dedication to building a strong, supportive community for generations to come.

To register and learn more, visit go.gov.sg/SG60BabyGift today!

Sources: 1 & 2

Time and Wealth: How Compound Interest Grows Your Money

They say time is money but when it comes to investing, time is actually wealth. In Singapore’s fast-paced economy, understanding the magic of compound interest can be the key to financial freedom. So, how does it work?

POWER OF COMPOUNDING

Think of compound interest as a snowball rolling down Bukit Timah Hill small at first, but growing bigger as it gains momentum. In finance, this means your initial investment earns interest, and that interest starts earning more interest over time. The longer you leave your money to grow, the bigger the effect.

Let’s say you invest S$10,000 at an annual return of 5%. In a year, you’ll have S$10,500. But in the second year, you’re earning interest not just on your original S$10,000, but also on the extra S$500, bringing your total to S$11,025. Fast forward 20 years, and your initial sum has nearly doubled without you lifting a finger!

WHY START NOW?

Singapore’s CPF system already takes advantage of compounding, but you can supercharge your wealth with investments in ETFs, stocks, or savings plans. The trick? Start early and stay consistent. The longer you let your money grow, the more time does the heavy lifting for you.

Image Credits: unsplash.com

So, whether you’re saving for your first BTO or early retirement, remember: wealth isn’t just about how much you earn it’s about how wisely you let time work for you.

Stop Oversharing Your Wealth on Social Media

In a digital era where every meal, milestone, and moment is shared online, it’s tempting to show off your financial wins. I am talking about your latest pay raise, that dreamy Maldives vacation, or the luxury watch you just bought.

But before you hit POST, consider this: oversharing your financial life on social media can bring more harm than good. Here’s why keeping your salary, travels, and big purchases under wraps might just be the smartest financial move you make.

#1: AVOID UNWANTED ATTENTION FROM SCAMMERS

Singapore has seen a rise in scams, from phishing attempts to identity theft. When you broadcast your salary or expensive purchases online, you inadvertently make yourself a target. Scammers can use this information to craft highly personalized attacks, tricking you into revealing more personal data or even gaining access to your accounts.

For instance, if you constantly post about your latest gadgets and expensive vacations, cybercriminals may assume you have disposable income. Keeping your financial details private reduces your vulnerability.

#2: PREVENT UNNECESSARY SOCIAL PRESSURE

Even among close friends and family, revealing your salary or luxurious purchases may stir envy or create unnecessary competition. Oversharing can lead to silent resentment or pressure others to keep up, potentially leading them into unnecessary debt just to match your spending habits.

Furthermore, constantly flaunting wealth can strain relationships. You might find yourself being approached for loans or financial favors more often than you’d like.

#3: PROTECT YOUR PROFESSIONAL REPUTATION

Sharing your salary and big purchases on social media can backfire in the workplace. If your colleagues or boss see your posts about pay raises or lavish spending, it could create tension or resentment. If you work in an industry where discretion is valued, such as finance, law, or consulting, oversharing may be perceived as unprofessional.

Image Credits: unsplash.com

In some cases, discussing salary publicly can even put your job at risk. Employers often discourage employees from disclosing their earnings.

#4: MAINTAIN PERSONAL SECURITY

Posting vacation photos in real time signals to the world that your home is unattended. Even if you live in a secure condominium, why take the risk? If you must share your travels, consider posting only after you return.

Similarly, revealing expensive purchases online can expose you to potential burglaries. A new Rolex or designer bag on your Instagram feed might attract the wrong kind of attention.

#5: STAY FOCUSED ON YOUR OWN MONEY GOALS

Social media fosters a “comparison culture” where people showcase only the highlights of their lives. If you constantly post about financial wins, you may fall into the trap of spending just to impress others.

By keeping your financial milestones private, you stay focused on what truly matters. Shift your focus to your long-term financial stability. Whether you’re saving for a home or planning early retirement, financial discipline is best cultivated away from social media’s influence.

#6: ENJOY WINS WITHOUT EXTERNAL VALIDATION

Not every success needs an audience. Achieving a financial milestone should be personally fulfilling, not a means of seeking social approval. Keeping these moments private allows you to fully enjoy them without external pressure or unsolicited opinions.

Personally, I appreciate the finer things in life, which is why I save up to travel and experience new places. I also take advantage of opportunities to purchase luxury items at lower prices while abroad. When I share my travels on Instagram, it’s primarily to preserve memories and not to show off.

IN A NUTSHELL

In a world where oversharing is the norm, financial privacy is a power move. Keeping your salary, travels, fancy meals, and big purchases off social media isn’t about being secretive, it’s about being smart.

Image Credits: unsplash.com

So the next time you’re tempted to flex on Instagram, ask yourself: is the validation worth the risks?

6 Financial Tips for Seniors in Singapore

As we enter our golden years, financial planning becomes more critical than ever. With evolving healthcare needs, lifestyle changes, and estate management considerations, staying on top of your finances ensures a comfortable and stress-free retirement.

Consider these six essential financial tips tailored for seniors.

#1: UPDATE YOUR FINANCIAL GOALS

Your financial priorities will likely shift once you retire. This stage of life may involve:

Traveling more frequently
Retiring abroad in a lower-cost country
Pursuing new hobbies and interests
Providing financial support to children or grandchildren, such as funding education or helping them start a business

Start by clarifying your financial goals and estimating their costs. From there, create a strategic withdrawal plan that maximizes your savings and CPF payouts to sustain your desired lifestyle.

#2: ESTABLISH YOUR EXPENSES

Most retirees rely on a fixed income, making it crucial to understand and plan for both essential and discretionary spending:

Fixed expenses: Housing (HDB loan payments or rental), utilities, food, insurance, phone bills, and transportation.
Variable expenses: Leisure activities, dining out, shopping, travel, and entertainment.
Image Credits: unsplash.com

Additionally, factor in future expenses, such as rising medical costs and potential long-term care needs. If your savings seem stretched, consider adjusting your budget or lifestyle to ensure financial security.

#3: PLAN FOR HEALTHCARE FEES

Healthcare is one of the most significant expenses in retirement, especially with the aging population. Be proactive by:

Reviewing your MediSave and MediShield Life coverage to ensure it meets your healthcare needs.
Exploring ElderShield or its enhanced version, CareShield Life, for long-term care protection.
Setting aside a medical fund for out-of-pocket expenses such as specialist consultations, medication, and home care services.

#4: REVIEW YOUR ESTATE PLAN

Estate planning is essential for ensuring your assets are distributed according to your wishes. Key actions include:

Updating your will: This legal document specifies how your assets will be distributed.
Assigning a Lasting Power of Attorney (LPA): This enables a trusted person to make financial and healthcare decisions on your behalf if you become incapacitated.
Making a CPF nomination: Unlike other assets, CPF savings are not covered in a will, so nominating beneficiaries ensures smooth distribution.

#5: BEWARE OF SCAMS

Elderly individuals are often prime targets for scams, ranging from phishing emails to fake investment schemes. Protect yourself by:

Never sharing personal or banking details over the phone or online.
Verifying the identity of callers claiming to be government or bank representatives.
Enabling multi-factor authentication for online banking and financial transactions.
Staying informed about the latest scams through advisories from the Monetary Authority of Singapore (MAS) and Singapore Police Force.

#6: REVIEW YOUR FINANCIAL PLAN

Retirement planning isn’t a one-time event as it requires ongoing review. Optimize your financial strategy by:

Regularly assessing your CPF LIFE payouts, investments, and passive income sources.
Understanding how different income streams (such as rental income, dividends, and annuities) contribute to your financial stability.
Consulting a Certified Financial Planner (CFP) to help align your portfolio with your risk appetite and retirement goals.

IN A NUTSHELL

Image Credits: unsplash.com

Financial security in your senior years is about careful planning, smart spending, and protecting your assets. By staying informed and proactive, you can enjoy a fulfilling and worry-free retirement in Singapore.

Sources: 1 & 2

6 Expert Tips to Creating a Winning CV

Your CV (or curriculum vitae) is your golden ticket to landing that dream job. Whether you’re a fresh graduate or an experienced professional, crafting a standout CV tailored to the Singapore job market can set you apart from the competition.

Here are some tips to make your application shine:

#1: HIGHLIGHT RELEVANT EXPERIENCE

Singapore recruiters often prioritize candidates whose experience aligns with the job requirements. Customize your CV by emphasizing the skills and achievements most relevant to the position.

Use bullet points to showcase key responsibilities and measurable results.

#2: INCLUDE A PERSONAL SUMMARY

Start your CV with a succinct personal summary. This is your elevator pitch: 2-3 sentences highlighting your key strengths, career goals, and what makes you a perfect fit for the role.

Example: “Results-driven marketing professional with 5+ years of experience in digital strategy and brand management. Passionate about driving customer engagement and delivering data-backed campaigns.”

#3: QUANTIFY YOUR ACHIEVEMENTS

Numbers speak louder than words. Use data to back up your accomplishments—whether it’s revenue growth, project completion time, or client satisfaction rates.

Image Credits: unsplash.com

#4: TAILOR YOUR ATS COMPATIBILITY

Many Singapore companies use Applicant Tracking Systems (ATS) to screen CVs. Use simple formatting, standard fonts, and job-specific keywords to ensure your CV makes it past the initial scan. Bonus Tip: Mirror the language used in the job description to increase your chances.

#5: SHOW SKILLS AND CERTIFICATIONS

Highlight both technical skills (like software proficiency or languages) and soft skills (such as leadership or communication). If you have certifications relevant to the role like Google Analytics, PMP, or WSQ courses, list them prominently.

#6: KEEP IT CONCISE AND ERROR-FREE

Recruiters often skim through CVs in seconds. Keep your document clear, concise, and no longer than two pages. Use professional language, proofread for spelling or grammatical errors, and ensure consistent formatting. A polished, mistake-free CV reflects your attention to detail and professionalism.

Image Credits: unsplash.com

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