MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Best Savings Accounts For Kids In Singapore

One most vital roles of parents are teaching their children about finances and success. Instilling in children the concepts of earning, saving, and investing is essential in developing life skills that they can use in the future.

Opening a bank account for kids is a good idea to train them on managing their money. It is also a surefire way to boost their educational savings and other expenses. On that note, here are five of the best savings accounts for kids in Singapore.

#1: OCBC MIGHTY SAVERS KIDS ACCOUNT

If you have S$50 to spare, you can open your child’s OCBC Mighty Savers Kids Account. Enjoy a 0.05% interest to set a head start for your child. Avoid withdrawing money from your account to get an additional 0.05%. Grow your savings even more by opting to link it up with an OCBC Child Development Account to get another 1% (i.e., resulting to about 2% interest p.a.).

Available here: www.ocbc.com/personal-banking/deposits/mighty-savers-child-savings-account

#2: UOB JUNIOR SAVERS ACCOUNT

Children aged 16 and below can ask their parents to open a UOB Junior Savers Account. It is a joint account with the parents, with a minimum initial deposit of S$500. The interest rate p.a. is 0.05%. Once your child ages beyond 16, the account will automatically convert into a regular savings account. This regular savings account can be used to grow their wealth during adulthood.

Available here: www.uob.com.sg/personal/save/savings/junior-savers-account.page

#3: CIMB JUNIOR SAVER ACCOUNT

For parents who are eyeing for competitive interest rates, you can consider the CIMB Junior Saver Account. It offers a higher interest of 0.3% p.a. for the first S$200,000, 0.5% p.a. for the next S$800,000, and 0.3% for anything above S$1,000,000. What is the best part? There are no fall-below fees to maintain your child’s account. Set up an account online for approximately 10 minutes. It is that convenient!

Available here: www.cimb.com.sg/en/personal/banking-with-us/accounts/savings-accounts/cimb-junior-saver-account.html

Image credits: unsplash.com

#4: MAYBANK YOUNGSTARZ ACCOUNT

Believe it or not, S$10 is all you need to open the Maybank Youngstarz Account! It has the interest rates of 0.1875% p.a. for the first S$3,000, 0.3125% p.a. on the next S47,000, and 0.3750% p.a. for anything above S$50,000. You and your child may also indulge in other benefits such as Popular bookstore vouchers and exclusive birthday privileges.

Available here: www.maybank2u.com.sg/en/personal/accounts/savings/Youngstarz-Account.page

#5: POSB MY ACCOUNT

Help your child grow his or her finances by opening the POSB My Account. It works as a joint account. There is up to 3.8% interest p.a. when you convert your My Account to a Multiplier Account and it offers other benefits such as complimentary Popular bookstore 1-year student membership. The POSB Smart Buddy feature comes in handy as it automatically saves their pocket money and teaches them the importance of saving.

Available here: www.posb.com.sg/personal/deposits/savings-accounts/my-account-kids

Sources: 1 & 2

6 Must-Try Korean Mint Chocolate Products Available Online

When it comes to mint chocolate, you either love it or hate it. While others feel as though they are biting into a tube of toothpaste, some foodies have fallen in love with its refreshingly sweet taste. What can I say? Mint chocolate complements each other.

Mint chocolate desserts usually come in the form of gelato or ice cream. After all, it was originally created through an ice cream competition back in 1973. Throughout the years, people have become increasingly creative on taking this flavor to the next level.

In Korea, mint chocolate was all the rage over the past months. You must try some of their products available online through Shopee Singapore.

#1: MINT CHOCOLATE BROWNIE

Most flavors would complement brownies, but this product tastes so well. Bite into the mint chocolate goodness of the Mint Chocolate Brownie. You will find yourself wanting more!

Price: S$10.81 at Shopee SG.

#2: GREEN TEA MINT CHOCOCHIP

Mint and chocolate could have one without the other, but it is better together. The Green Tea Mint Chocochip is a part of a wide I’m Yo Choco Mix Series. You can drink this either as a cold or hot beverage. Feel refreshed with its sweet mix of mint and chocolate!

Price: S$23.50 at Shopee SG.

#3: HERSHEY’S MINT CREME MINI WAFERS

The 100 grams of Hershey’s Mint Creme Mini Wafers is unique due to its smooth filling that is both refreshing and smooth. The Hershey’s chocolate sauce is not too sweet, and its wafers are crunchy. After eating this snack, your fingers will leave its chocolate sauce. Feel free to lick it!

Price: S$19.99 at Shopee SG.

Image Credits: facebook.com/ONGkoleyt

#4: ABC CHOCO COOKIE – MINT CHOCOLATE FLAVOR

Orion’s ABC Choco Cookie – Mint Chocolate Flavor boasts its crispy cookies filled with the sweetness of chocolate and the refreshing flavor of mint. This product is part of their 2021 Summer Limited edition offerings. Its cute packaging is a plus!

Price: S$10.99 at Shopee SG.

#5: MINT CHOCO PIE

With its appealing turquoise packaging, the Mint Choco Pie has an appealing mix of juicy cacao and the fresh taste of mint. It will spread in your mouth smoothly. Take a bite or two!

Price: S$9.80 at Shopee SG.

#6: KANU MINT CHOCOLATE LATTE

Korean instant coffees are popular for its convenience and rich flavor. What better way to spend your day than by sipping a Kanu Mint Chocolate Latte? Its great flavor is suitable for desserts. Each box contains 24 sachets. Do not be afraid to stock up because it does not expire for at least a year!

Price S$18.50 at Shopee SG.

Image Credits: facebook.com/stylekoreanblog

Your Concise Guide To Cryptocurrency Terms

DEFINING CRYPTOCURRENCY

The cryptocurrency is a virtual or digital currency that is secured by cryptography, which makes it nearly impossible to double-spend or counterfeit. Many cryptocurrencies are decentralized networks based on blockchain technology. This technology consists of a distributed ledger enforced by a disparate network of computers. A distinct feature of cryptocurrencies is that they are generally not issued by any central authority. Thus, these are theoretically immune to government manipulation or interference.

1. ADDRESS

Cryptocurrency coins are identified on the blockchain using the unique addresses. The value of your wallet is updated based on your address every time a transaction is confirmed. Addresses may appear in diverse formats. Simply put, no coin is stored without a proper wallet address.

2. BITCOIN

Bitcoin is a term you usually hear. It is a digital currency that came into circulation last 2009. Around 18.636 million Bitcoins have been mined and there are only 21 million currently in existence. These can be traded anonymously or sold for cash. It is important to note that the circulation is not controlled by banks or governments.

While Bitcoin is the most popular, there are other cryptocurrencies in circulation such as Cardano, Litecoin, Ethereum, Ripple, and Dogecoin.

3. BLOCKCHAIN

The blockchain is the underlying technology that powers the cryptocurrencies. It is a database that is chained togethering using cryptography. Once data is entered into this ledger, it cannot be erased or altered. All transactions are permanently recorded too.

4. EXCHANGE

The digital currency exchange is a business that allows users to sell, trade, buy, and exchange their Bitcoins for cash or other cryptocurrencies. Exchanges are usually run by private companies that earn by getting a commission from the transactions.

5. MINING

Like precious gold, there is a finite number of Bitcoins that can be acquired when you purchase or mine it. To mine it, miners use computers to solve complicated Mathematical puzzles. The miners receive Bitcoins as a reward for solving the puzzles. Mining requires powerful machines and unwavering amounts of time and energy.

Image credits: pixabay.com

6. PRIVATE KEY

The private key is necessary to verify transactions when withdrawing or selling your cryptocurrencies. If someone gains access your private key, you can lose all your funds in a matter of seconds. You should not share this string of numbers and letters to anyone!

7. PUBLIC KEY

The public key is a string of characters used to buy cryptocurrency. Fans can easily send cryptocurrency using the creator’s public key.

8. SATOSHI NAKAMOTO

Satoshi Nakamoto is the individual or group of individuals credited with founding the world’s first cryptocurrency – the Bitcoin. The founder remains completely anonymous. If you see the term “satoshis” thrown in conversations, it refers to a fractional unit of Bitcoin. You can transact with the satoshis.

9. SEED

Seed is the foundation of your wallet’s digital existence. A recovery seed is a series of twelve or sixteen words that can be used to access your wallet in case something goes wrong. It is the equivalent of asking twelve security questions for a forgotten password. Do not share this to anyone!

10. WALLET

A wallet keeps a record of the user’s balance. It enables you to receive and send digital currencies. A crypto wallet is either a hardware device or a program that can access the computer software.

Sources: 1, 2, & 3

6 Korean Marts In Singapore To Shop For Authentic Products

Watching the first episode of Hometown Cha-Cha-Cha made me crave for Korean food! I know I am not the only one. While there are plenty of glorious restaurant options in town, you can create your own delicious bowl of sundubu jjigae (soft tofu stew) or ramyeon (instant noodles) at home.

Begin by getting your hands on authentic Korean ingredients and products through visiting the following Korean Marts. Most are available online too!

#1: CHOROK MARKET

Nestled in the bustling Orchard area, Chorok Market sells freshly imported vegetables and branded goods from Korea. Get your favorite Lotte snacks and stock up your Soju as you visit the store. You can also purchase items online through their website. Get free delivery for orders above S$80! Order here.

#2: SHINE KOREA

Shine Korea is regarded as one of the most popular Korean marts in Singapore. With its various branches spread across the country, its best-selling items are the Samyang instant noodles. You can find its cool flavors such as Samyang Buldak Tomato Pasta and Samyang Hot Pepper Jjamppong/Jjajang. For your convenience, you may shop through their website. Orders above S$80 can reap its free delivery. Order here.

Image Credits: Ana Sison Tallod via facebook.com

#3: KORYO MART

For many Singaporeans, they visit Korean markets just to get the feel of being in Korea. They soak in the atmosphere without a shopping list on hand. If that is the experience you are looking for, you can visit the Koryo Mart. Its branches have a variety of frozen meats, kimchi, instant noodles, seaweed, soups, sauces, and marinades. These ingredients are perfect for your DIY Korean BBQ party. Koryo Mart is also available at qoo10. Order here.

#4: AMU MAR-TE

Amu Mar-te has two physical outlets in AMK Djitsun Mall and in Canberra Plaza. Its Ang Mo Kio is unique as it is linked to the Korfe Bakery. In this mart, you will find ready-to-eat meals such as soybean stew, salted egg dumplings, and Korean seafood pancakes. Check out their outlets to enjoy their extraordinary daily selection of items that are under S$3! You can also purchase through their Shopee store, here.

Image Credits: amumarte.sg via facebook.com

#5: LEE MART

Lee Mart is often associated with its Korean side dishes. It offers its customers more than that! You will find other Korean products such as anchovies, kimchi, frozen food, braised lotus roots, and instant noodles.

There are currently four outlets in Singapore: Chinatown Point, Suntec City Mall, Hillion Mall, and Heartland Mall. Visit these outlets or browse their website. Get free delivery for purchases above S$70. Order here.

#6: BLUEBASKET

BlueBasket tickles the modern heart as it offers a lot of trendy items and kitchenware. From minimalist Jeju bowls to trendy food items such as Fishcake Noodle Tteokbokki and Makgeolli Brewing Kits, you can find these items here!

Image Credits: pixabay.com

New BlueBasket members can enjoy free delivery coupon without minimum spending when they purchase online. Nonetheless, orders above S$80 get free delivery. Order here.

Korea has a vast majority of grocery store chains where you can do most of your shopping. From convenience stores to marts, these stores sell a variety of food and household items. Since we cannot easily travel to Korea to purchase what we need, you can stop by these abovementioned marts to get your authentic Korean cuisine experience!

Sources: 1 & 2

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Vi-Mask is a NanoTech Anti-Viral Mask that provides resistance and high filtering performance against bacteria and viruses. Innovatively designed with sustainable materials, made with comfort and superior fit in mind, and created to enhance your air travel experience.

Screenshot from krisshop.com

Dual patent-pending technology That provides resistance against viruses and bacteria.
Filtration Efficiency Certified N95 grade filtration protection (PM0.3) and also CE Type IIR Certified (EN14683)
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Added convenience for eating and drinking without having to stow away the mask with the head loops design. Remove your mask to eat and drink without having to remove over the ear headphones
Convert the head loops to ear loops to suit your preference
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Product Weight: ~ 20g