BT Money Hacks

Money Hacks Ep 49: The ABCs of robo-enabled wealth management

10:49 mins

Synopsis: In this podcast series every Monday, The Business Times and The Straits Times break down actionable financial tips.

This episode walks listeners through the ABCs of robo investing.

What's a robo advisory, why would you want to use one, and how much might it cost?

How intelligent are such systems, how much work do we still have to do to make the most of them, and how can they make our money lives easier?

Chief executive of StashAway, Michele Ferrario, breaks down robot-enabled, technology-assisted investment for listeners. StashAway is regulated by the Monetary Authority of Singapore.

Produced by: Ernest Luis and Christopher Lim

Edited by: Adam Azlee

Like, subscribe and rate our Money Hacks podcast on:

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Website: http://str.sg/stpodcasts

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Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.

See omnystudio.com/listener for privacy information.

Money Hacks Ep 48: Actionable financial tips for young parents and children

12:12 mins

Synopsis: In this podcast series every Monday, The Straits Times and The Business Times break down actionable financial tips.

This episode is aimed at how parents can get children to appreciate the value of money in an affluent society. Money Hacks' co-hosts Chris Lim (above left) and Ernest Luis talk actionable financial tips for young parents and children up to the age of 16. 

How old can they be before you show them the value of money and sacrifice, and teach them the concept of cash flow (allowances versus expenses)?

1. Parents can use tokens to exchange if they are too young to have hard currency allowances (1:30)

2. Are there tools to help parents educate children better? (2:35)

POSB Smart Buddy is an introduction to digital payments. Children wear a watch that lets them tap to pay at certain stores such as those in school and at selected merchants.  Parents download the mobile app so they can allocate allowances and check on the child's spending in real time. The OCBC Mighty Savers programme is for children below 16 with interest of up to 0.8 per cent a year.

3. What is the concept of delayed gratification for children? (3:59)

4. How to be financial role models for your children. (7:30)

5. How to inculcate habitual saving, start an allowance early even if it is tokenised, explain delayed gratification, transit to real money as early as possible, and involve children when doing abstract investments like gold (10:25)

Produced by: Ernest Luis and Christopher Lim

Edited by: Adam Azlee

Like, subscribe and rate our Money Hacks podcast on:

Spotify: http://str.sg/oeGN 

Apple Podcasts: http://str.sg/oeXe 

Google podcasts: http://str.sg/oeGd 

Website: http://str.sg/stpodcasts

Feedback to: [email protected]

Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.

See omnystudio.com/listener for privacy information.

Money Hacks Ep 47: Getting started with SkillsFuture-funded courses if you have unused credit

11:16 mins

Synopsis: In this podcast series every Monday, The Straits Times and The Business Times break down actionable financial tips.

The $500 SkillsFuture credit is given to all Singaporeans aged 25 and older. The scheme was launched in January 2016.

Money Hacks' co-hosts Ernest Luis (above, right) and Chris Lim discuss practical tips to get started if you have not used your SkillsFuture credit.

1. Logging in, checking on your remaining credit
2. Prioritise and identify skills that can help upgrade your career, or personal goals, as programmes are divided into categories: students, employees, employers, learning throughout life
3. Check on new available courses that were not listed a few years back

Plans to enhance the MySkillsFuture portal, which provides information on careers and the corresponding skills needed, mean users will be able to create an e-passport listing their e-certificates from training.

The upcoming SkillsFuture Festival 2019 will be held from June 28 till Aug 11 - featuring six weeks of workshops, talks, roadshows, experiential learning and lifestyle activities across the island, to inspire Singaporeans to develop a passion for learning and pursue skills mastery.

SkillsFuture website: https://www.skillsfuture.sg/

Produced by: Ernest Luis and Christopher Lim

Edited by: Adam Azlee

Like, subscribe and rate our Money Hacks podcast on:

Spotify: http://str.sg/oeGN 

Apple Podcasts: http://str.sg/oeXe 

Google podcasts: http://str.sg/oeGd 

Website: http://str.sg/stpodcasts

Feedback to: [email protected]

Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.

See omnystudio.com/listener for privacy information.

Money Hacks Ep 46: How to start investing with just $100 a month in your 20s

11:16 mins

Synopsis: In this podcast series every Monday, The Straits Times and The Business Times break down actionable financial tips.

This episode is brought to you by OCBC Bank. It is aimed at those in their later 20s, and how to move beyond just insurance and good bank accounts.

Money Hacks' Chris Lim (left) hosts OCBC Bank senior investment strategist Vasu Menon (centre above), who gives Lynette Tan - a 26-year-old Business Times journalist - practical tips to get started.

In a Jan-Feb 2019 Frank by OCBC survey of 866 students and young working adults aged 16-29, close to three-quarters said they wanted to start investing, with almost a third in it for long-term gains, though fewer than two in five considered themselves knowledgeable about investing.

We cover three structured tips to help young people consider when wanting to invest.

Is a five-figure sum the minimum you need to start investing properly? (1:40 mins)

Step 1: How to automate investment of unit trusts with as low as as $100 monthly? (2:01)

A $100 monthly minimum can also get you started in an OCBC blue chip investment plan (2:23)

Step 2: Knowledge is critical next, after you get started with a monthly $100 investment. Attend workshops and talks like Frank by OCBC's Young Investor programme (3:35)

Step 3: How to do your homework safely before jumping into the markets? Create a simulated portfolio and how to write yourself a private proposal (4:32)

What is time diversification, and why is it good to do this in a blue chip investment plan? (6:42)

Why it is good to take emotions out from a structured investment journey, and not let it affect your work or distract you needlessly (7:29)

Get more Frank by OCBC articles for the young here.

Produced by: Ernest Luis and Christopher Lim

Edited by: Adam Azlee

Like, subscribe and rate our Money Hacks podcast on:

Spotify: http://str.sg/oeGN 

Apple Podcasts: http://str.sg/oeXe 

Google podcasts: http://str.sg/oeGd 

Website: http://str.sg/stpodcasts

Feedback to: [email protected]

Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.

See omnystudio.com/listener for privacy information.

Money Hacks Ep 45: How to choose insurance in your 20s

8:44 mins

Synopsis: In this podcast series every Monday, The Straits Times and The Business Times break down actionable financial tips.

This episode is brought to you by OCBC Bank. It is aimed at insurance, a product which the young in their 20s need, but sometimes find it hard to figure out what they should get first.

Money Hacks' Chris Lim hosts 29-year-old Navin Sregantan, a journalist at The Business Times and Mr Kelvin Goh, OCBC Bank’s Head of Investments and Wealth Advisory.

In a Jan-Feb 2019 Frank by OCBC survey of 866 students and young working adults aged 16-29, only slightly more than half were aware of different insurance products, and less than half considered themselves knowledgeable about insurance.

Are there still myths or misconceptions about insurance?

1:10 mins - Banks actually do provide some insurance plans, and how to use self-service banking tools like OCBC Life Goals to plan and identify gaps and protection needs.

2:27 mins - Can buying an insurance plan through a bank help you earn higher interest?

3:35 mins - How much and what kind of coverage should people in their 20s have? 

4:08 mins - Why you should add riders to insurance plans.

4:28 mins - What is the second coverage plan you need next, especially if you're working in your 20s?

5:14 mins - If you plan to get married, are life insurance plans crucial?

Get more Frank by OCBC articles for the young here.

Produced by: Ernest Luis and Christopher Lim

Edited by: Adam Azlee

Like, subscribe and rate our Money Hacks podcast on:

Spotify: http://str.sg/oeGN 

iTunes: http://str.sg/oeXe 

Google podcasts: http://str.sg/oeGd 

Feedback to: [email protected]

Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.

See omnystudio.com/listener for privacy information.

Money Hacks Ep 44: Financial adulting 101 and controlling monthly credit card debt

11:52 mins

Synopsis: In this podcast series every Monday, The Straits Times and The Business Times break down actionable financial tips.

This episode is brought to you by OCBC Bank. It is aimed at those in their 20s and are starting to work, and how can set themselves up financially to avoid common mistakes and focus on their careers. 

Money Hacks' Chris Lim hosts 20-year-old Vanessa Lim, a temp at The Business Times, and Mr Kelvin Goh, OCBC Bank’s Head of Investments and Wealth Advisory.

In a Frank by OCBC survey of 866 students and young working adults aged 16-29, done earlier this year, only two-thirds managed to stick to a budget - or even have an expense budget - and two out of five struggled to stick to their saving plans.

How to get started after listening to this episode:

1:00 mins - Should you have two bank accounts - one for paying bills and one for saving?

2:04 mins - Mr Goh advises on the first step - how to automate transfers to savings every month.

4:00 mins - Should you stick with only one bank account like the OCBC 360?

5:37 mins - Paying cash for everything means you miss out on credit card perks. How do you avoid drowning in credit card debt when you are starting out in your career? Should you set a credit limit on your card?

7:50 mins - Credit cards should not be used as a back door to overspending beyond your means, but the right accounts mean that interest tiers can grow with you when you are ready for larger financial commitments.

8:20 mins - Can old-school diaries, Excel spreadsheets or even online tools like OCBC's Money In$ights help you budget and track spending and saving more effectively?

Get more Frank by OCBC articles for the young here.

Produced by: Ernest Luis and Christopher Lim

Edited by: Adam Azlee

Like, subscribe and rate our Money Hacks podcast on:

Spotify: http://str.sg/oeGN 

iTunes: http://str.sg/oeXe 

Google podcasts: http://str.sg/oeGd 

Feedback to: [email protected]

Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.

See omnystudio.com/listener for privacy information.

Money Hacks Ep 43: Saving for key life goals in your early 20s

12:33 mins

Synopsis: In this podcast series every Monday, The Straits Times and The Business Times break down actionable financial tips.

This episode is brought to you by OCBC Bank. It is aimed at millennials and students who have life goals but aren't sure how to work towards them.

Money Hacks' Chris Lim hosts 19-year-old Lim Li Shian (Liz), a temp at The Business Times, and Mr Vasu Menon, OCBC Bank’s Senior Investment Strategist, Wealth Management Singapore.

In a Frank by OCBC survey of 866 students and young working adults aged 16-29, done earlier this year, almost three-quarters said travelling is important to them, while more than four out of five ranked life experiences as a top priority, along with maintaining relevant skills as part of pursuing further education.

Are these goals realistic?

0:42 mins - Mr Menon guides Ms Lim, who says she wants to set aside money for university studies, travel overseas, or learning a new language.

1:41 mins - He shows her Frank by OCBC's Savings Goals online calculator and how to set aside money each month to achieve her immediate goals.

2:57 mins - Are long-term goals also important for the young to keep in mind?

4:16 mins - Find out why you should not borrow money to achieve short-term goals, like travel trips.

7:00 mins - How about Ms Lim's medium-term goals like owning a car? Find out what advice she gets.

Get more Frank by OCBC articles for the young here.

Produced by: Ernest Luis and Christopher Lim

Edited by: Adam Azlee

Like, subscribe and rate our Money Hacks podcast on:

Spotify: http://str.sg/oeGN 

Apple Podcasts: http://str.sg/oeXe 

Google podcasts: http://str.sg/oeGd 

Website: http://str.sg/stpodcasts

Feedback to: [email protected]

Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.

See omnystudio.com/listener for privacy information.

Money Hacks Ep 42: How to get bonus interest in bank-and-earn accounts

8:42 mins

Synopsis: In this podcast series every Monday, The Straits Times and The Business Times break down actionable financial tips.

This episode is aimed at those who have just started working, or are drawing a regular salary, and want to know how they - and also young married millennial couples - can use bank-and-earn products better, so they can earn more interest with the money that goes regularly into their accounts each month. Helping us to make better sense of it all is Ms Priscilla Joseph, vice-president of consumer banking for DBS Bank.

Our questions:

1. What are bank-and-earn accounts and why are those offered by the major banks (such as UOB One, DBS Multiplier and OCBC 360) better than basic savings accounts?
2. Each bank has its own specific product calculators online for you to type in your salary, or minimum credit card spend. What are the key basic criteria you should concentrate on, in order not to overstretch yourself?
3. Do these bank-and-earn accounts serve you best if you have a regular monthly salary? What if you are married and are self-employed or a freelancer in the gig economy?

4. We work through the example of a new-to-the-workforce graduate with a credited median salary of $2,800 (excluding CPF), and a credit card spend per month of $200, which is manageable in paying back monthly outstanding amounts, to avoid credit debt. With two categories above ticked off, the eligible interest rate is 1.85% p.a. for the DBS Multiplier account, for example.

5. Many accounts give you bonus interest if you increase your bank account balance relative to the previous month. That can be hard to do if you constantly have bills to pay each month or, worse still, some bigger bills that come quarterly, or annually. What is a money hack to manage this? Tune in.

Produced by: Ernest Luis and Christopher Lim

Edited by: Adam Azlee

Like, subscribe and rate our Money Hacks podcast on:

Spotify: http://str.sg/oeGN 

iTunes: http://str.sg/oeXe 

Google podcasts: http://str.sg/oeGd 

Feedback to: [email protected]

Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.

See omnystudio.com/listener for privacy information.

Money Hacks Ep 41: Top tips on preparing yourself to sell or buy your HDB flat

8:42 mins

Synopsis: In this podcast series every Monday, The Straits Times and The Business Times break down actionable financial tips.

Editor's note: Property information correct when published on April 29, 2019

We host sisters Rhonda (front row on right) and Race Wong (front row on left) - who are co-founders of Ohmyhome, that is aiming to make housing transactions in Singapore simple, fast and affordable.

They explain the steps and mindset you need to have, if you are ready to sell or buy a HDB flat:

1. Do you want to engage a property agent or do-it-yourself within your set time frame?
2. Family members selling to each other: Does this scenario apply to your case?
3. How much paperwork is involved? You can also pay for just documentation preparation services
4. Understanding finance calculation and bank or HDB loans
5. Decide what is the most important criteria for yourself: Is it money or location?

You can download HDB's app too.

Produced by: Ernest Luis and Christopher Lim

Edited by: Adam Azlee

Like, subscribe and rate our Money Hacks podcast on:

Spotify: http://str.sg/oeGN 

iTunes: http://str.sg/oeXe 

Google podcasts: http://str.sg/oeGd 

Feedback to: [email protected]

Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.

See omnystudio.com/listener for privacy information.

Money Hacks Ep 40: Top myths to dispel for HDB flat sellers and buyers in today's market

9:09 mins

Synopsis: In this podcast series every Monday, The Straits Times and The Business Times break down actionable financial tips.

Editor's note: Property information correct when published on April 22, 2019

We host sisters Rhonda (front row on right) and Race Wong (front row on left) - who are co-founders of Ohmyhome. Ohmyhome is an online one-stop shop with a 30% market share, that is aiming to make housing transactions in Singapore simple, fast and affordable.

They help us dispel the top myths and misconceptions for HDB flat sellers and buyers in today's market.

You can download HDB's app too.

Produced by: Ernest Luis and Christopher Lim

Edited by: Adam Azlee

Like, subscribe and rate our Money Hacks podcast on:   Spotify: http://str.sg/oeGN   iTunes: http://str.sg/oeXe   Google podcasts: http://str.sg/oeGd   Feedback to: [email protected]

Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.

See omnystudio.com/listener for privacy information.