According to the multi-ministry task force handling COVID-19, Singapore may enter Phase Three by the end of 2020 should the community cases remain low in the country. The restrictions reflected by this upcoming phase may last for a year or more. That being said, more and more people are working from home. This huge shift in the global workplace has brought many changes in our lives. Whenever big transitions occur, it is a good opportunity to re-assess all the aspects
WHAT IS AN EMERGENCY FUND? An emergency fund consists of the money you set aside to cover large, unexpected expenses. It serves as your cushion to save you from drowning into debt and other unfortunate events. It can be used for unforeseen medical expenses, home appliances replacement, automobile repairs, and managing unemployment. HOW MUCH MUST I SAVE? When you are starting to build your emergency fund, it is important to value what you have. No matter how small, every dollar
We’re in the middle of a global pandemic, and with the economy swinging up and down, protecting and growing your money is a common concern. Some people may find it easier to save now that they’re home more often, but putting your paycheck in the bank isn’t making the most of your hard-earned savings, especially with banks reducing interest rates across the board. In these uncertain times, it is definitely prudent to consider safe and flexible options to save smarter
You are in your twenties! You may be thinking that you have the rest of your life ahead of you. Well, you are right. Whether you just graduated from university or are on your way to finish your final term, you can start sending out your Curriculum Vitae. Finally! You landed your first full-time job, before the Circuit Breaker period started. During your first two weeks, you learned the rules of the trade. You were able to find your rhythm
What is wrong with having one bank account for the entire family? Nothing! However, financial stability may be reaped through spreading your eggs in several baskets. Setting aside enough cash to maintain one account is already a tough task, especially if you are barely making ends meet. If you can afford to keep your money in separate accounts, the management of your finances will be better. Firstly, you will be able to track expenses related to your specific financial goal.