I know this can be rather complicated. It took me a while to find out what is this Simply Go ezl concept. It has come to us that we can already use Mastercard and Visa card to tap in and use it for our public transport these days. Here, I think Ezlink is plugging a gap for those without credit cards. (Though I don’t quite see how that is possible to plug the gap when you also aim to use the credit card to top up the ezlink card.)
Nonetheless, with CNY round the corner. EZ Link launched their conversation from a normal EZ Link Card via their Station Machines also known as the Ticketing Machines. It takes about one minute to convert the ezlink card to a “Simply Go” one so that one can top up online instead of queuing up physically. With this upgrade, there is a free $2 added to the card and with ever transport use, you get a scratch card which gives you a cashback amount into your converted Simply Go EZ Link Card. Easy to understand now?
If you have some time to spend and use the public transport a little here and there then please do use my referral code “4005114” when you register for the game. Good Luck and thank you in advance.
So I tried it out and it came with two standard scratch cards which gave me a total of $0.44 cents instantly which isn’t too bad for doing nothing except for the initial conversion. It will take about a minute at the ticketing machine so beware for the crowd behind you.
When discussing the portfolio of Financial Planning, it is common to waive it off if you have no interest in it or talk about investments only. Like any broken recorder, the basis of Finance Literacy is fundamental however you dislike it.
Let me put it on a storyboard – As a child or if you have a child, you would want them to learn skills from a young age. (NO! I am not talking about enrichment). Here I am talking about pure survival skills like swimming, psychomotor skills, being literate, learning to drive when you are older, learning simple skills like dealing with disappointment, etc.
Similarly, financial planning is no exception to life skills. Imagining a pyramid, the top layer is not investments but insurance. Meaning risk transfer. Now, skip the boring part of insurance planning. There are a few alternatives to cheaper insurance coverage.
One of them is actually SNACK by Income. Yes, Income Insurance.
Don’t miss out now because there’s a good deal going on at the moment.
Here’s $50 for you to start your investment journey!
All you need to do is: 1. Download the SNACK by Income app (https://income.sg/dl-snack) 2. Enter my referral code “PAU4055” and tap on SIGN UP 3. Complete your SNACK account creation with MyInfo 4. Start SNACK Investment and ensure that you have boosted Investment! (Refer to steps 1-4 here: https://income.sg/si-start)
Get your complimentary $50 investment credits in your portfolio the following week!
Technically, it can be termed as an ILP (Investment Linked Plan) and honestly I am not a big fan of it. But you can exclude the investment option if you don’t wish to. However, for a start, you probably should do the investment portion until you get the signup rewards.
I use the personal accident, critical illness and life insurance portion to supplement my current insurance. In any case, there is a maximum that one can be insured and it starts from $0
Life – $200,000 coverage
Accident – $ 100,000 coverage
Critical Illness – $200,000
How it Works
How this micro insurance work is that:
You need to set your lifestyle activities for different classes of insurance coverage and investment (if any). For each activity that is fulfilled, a new policy will be created and added to your total coverage. In this step, you can also set a daily cap so that you don’t spend more than $0.30 (for example) per day.
Food & Drinks
Then you set your activity source. These are the ones that measure your activities such as step or visa credit card if you spend on certain categories.
Then set your weekly cap – This is for the investment cap. Up to one to decide
You will need to have your investment objective assessed such as CKA – Customer Knowledge Assessment
There you go and your SNACK account will be set up for you. That said, you can redeem the fund units anytime and can stop using the insurance app anytime you want.
I get that it takes a while to get used to it but you need some time to get used to it as it is pretty automated.
If there are some brands which interest you, you can also spend and get additional coverage from them as well. Once in a while, they will run some promotional campaigns and you can get additional investment credits. So far, luck has been on my side, I have collected more than a couple of hundred in investment funds terms. Like any insurance, this is pretty efficient for an ILP since I investment directly into a fund I am comfortable with.
If you decide to sign up with SNACK, do remember to use my referral code: https://income.sg/dl-snack and my referral code PAU4055.
In my previous post about Ez-link Trival here Ez-link deal , they have upped one more level by allowing Mastercard in their Ez-link payment option.
You can now earn an easy S$10 just by logging into their app, there will be an option to use Mastercard to pay for items via Google Pay.
EZ-Link and Mastercard have partnered to launch a new feature called Pay by Wallet.
This would add virtual Mastercard functionality to your EZ-Link Wallet (Google Pay). You can then spend these at more than 80 million Mastercard online and in-store merchants worldwide. Unfortunately, it is only available for Android users for now.
As like any new players in the market, the launch of Pay by Wallet, EZ-Link is offering an instant S$5 credit to users who activate Pay by Wallet on the EZ-Link App.
Do note that you will get an additional S$5 cashback will be credited to you when you make a minimum spend of S$10 within 30 days of signing up. The promotion is not unlimited, please take note.
Should you be interested to sign up for this, do download the Ez Link App and key in my Referral code: 3197B5C
Some Pointers to note
a. This campaign is limited to the first S$100,000 of cashback or the first 10,000 new EZ-Link Pay by Wallet user sign-ups, whichever comes first
b. Next, note that certain transactions are not valid here at T&Cs such as donations, education, government services, hospitals, utilities and AXS. (Standard Stuff)
c. Additional perks:
For every successful Pay by Wallet transaction of at least S$80 made by 31 July 2022, earns you one entry into a lucky draw with the following prizes. (All prize winners will be contacted latest by 30 September 2022):
1N staycation at Equarius Hotel or Hotel Michael with breakfast for two (3x winners)
A pair of Universal Studios Singapore tickets (80x winners)
Again, nothing much to shout about. To make more value for your buck, something to play around with if you have some time.
This is not a sponsored post. This is purely my own opinion after using their service and/or products. If you like what you are seeing, do remember to check out my referral links.
The opening up of Singapore seemed to be a cheer so far with the most recent news seemingly as a positive sign as all business would eventually open up to the rest of the world. Nonetheless, everyone have to still stay vigilant and not fall into the trap of Covid lockdown once more. It has been an experience with Covid and no one would wish that something like that will happen once again.
KrisShopper – Loyalty Programme
With these Krisflyer seemed to have extensively opened up and aggressively fronting their marketing dollars in Krisflyer shopping (KrisPlus or Kris+). Krisflyer launched their own loyalty programme called KrisShopper. The first 30,000 members who link their KrisFlyer accounts to KrisShopper will receive 1,000 miles, and the first 5,000 will receive additional SGD$20 to spend on KrisShop.
What do you need to do:
Link KrisFlyer to KrisShopper
Subscribe to news & promotions while linking accounts
Link before 30th June 2022
If you are eligible and done the correct steps, both miles and voucher will be credited within 10 business days after 30th June 2020.
Kris+ Couponmania (Co-brand/Partnership with Sqkii)
If you do not know what is Sqkii by now, you can check them out on their facebook or webpage. They first started out by letting people do the typical hide and seek treasure hunt for prize money by giving clues on a daily basis. How Kris+ is partnering with them is that they have created a game that allows anyone with a Kris+ account to merge coupon boxes. It is definitely not going to be easy as this is similar to the 2048 game that you play on your mobile. Each merging gets you a bigger coupon or prize which seems to be random. There’s also no guarantee that you will get the top prize which a a Nintendo switch or a Oven set.
You would also get a mini coupon prize to start off once you have signed up. Additionally, if you sync your Kris+ account, you get a speed up ticket that gives you a faster distribution per token. Once that is used up, you need to start referring more friends.
Remember not to skip the referral portion and also syncing your Kris+ account.
Everyone probably need referral to open up to more spaces to collect the coupons to merge the coupons. It takes 7 mins to be loaded with the level 1 coupon so 10 spaces means it will be full in 70 mins. Mindblown? haha.
If you do not have a Kris+ Account or App
If you don’t have a Kris+ account, you can download it via IOS or Google Play.
Singlife is offering up to $35 when you sign up for Singlife Account and their Singlife Grow. I’ve been following them for a while now and I realised that they have been promoting their GROW ILP account. I’m not sure if it took off well but given how there is marketing dollars to promote seems like it is encouraging a higher take up rate. To get the $30 from grow, it takes very little effort. If you are an existing Singlife Account, you will still qualify for the Singlife Grow reward as long as you have never applied for Grow portfolio before. Just take note to use the code to get your credits – “ki02dAhi”
The new scheme and promotion
There isn’t a lock-in period for your funds, and you can withdraw without penalty but it seems like there is a cap at S$20,000 per account per day so do take note.
The interest mechanic
On top of the sign-up gift, you also get 0.5% p.a. additional returns for your Singlife Account when you set up your Grow portfolio which is a nice cherry on top of the sign-up bonus. This gives you 1.5% p.a. on your Singlife Account for the first $10,000.
Not to mention that if you complete the $500 spending per month, you get an additional 0.5% p.a. and that makes it 2.0% p.a. on your Singlife Account for the first $10,000.
The Additional Perks
As all promotion goes, do some form of diligence and check out the Terms and Conditions to understand what you are putting your money into. Read it here: Terms and Conditions
The Cash Mechanic goes like this.
a. If you are not an account holder, sign up using this code ki02dAhi + order and activate the Singlife debit card to get a S$5 sign up bonus
b. If you are an existing customer then check GROW out.
Sign and apply for your first GROW policy using this code ki02dAhi + Fund your first GROW policy with a minimum of S$1000 to get a $30 sign up bonus.
In short, if you are a new customer, your max benefits will be S$35 and if you are an existing customer, your max benefits will be S$30.
The Real Deal, GROW ILP (Investment Linked Plan-ILP)
Without doubt, I scrutinise at the term ILP. Personally, I have terminated 2 ILPs that I bought some time back without knowing what I was going into.
Singlife Grow is primarily an investment ILP with very minimal insurance. You don’t have to pay high upfront commissions nor high assurance charges, and no lock-in period for your funds. However, I’m not quite sure if there is a fund switch function and what the bid-offer spreads are like.
Singlife Grow is more of a hybrid robo-insurtech /advisor perhaps and I can’t really classify them under any sorts but for sure they are in the Insurance industry so hence the term ILPs. They are not the typical ILP which loads the consumer even before the investing starts so that’s a plus.
However, do take note of the investment risks so it can go both ways and there’s no guaranteed returns.
I understand that the fund managers who will be managing your funds will be from Aberdeen Standard investments
They are also under ESG (Environmental, Social and Governance) which is a big thing these days as people approach sustainable investing.
Coverage will be 101% of Net premium or Account value (In the event it has gone up much higher)
Fees will be 0.25% per quarter of the account value. (Management Charge)
No Cost of Insurance (Excellent)
Some important information to note:
Singlife Launches Member Get Member Programme, Rewarding New and Existing Customers S$35 for Every Referral
All referrers and referees receive S$30 when the referee signs up for Grow, and S$5 when the referee creates a Singlife Account and activates their Singlife Visa Debit Card. With no limits to the number of referrals, customers can continue to refer and receive more rewards.
The Grow ILP – Investment Linked Plan
Singlife’s Grow is an Investment-Linked Policy (ILP) with portfolios managed by Aberdeen Standard Investments. Accessed through the Singlife App, customers can manage, save and invest simply through a single interconnected platform with absolutely no lock-ins. For more information on Grow, visit https://singlife.com/grow/.
The Singlife Account continues offering the same flexibility customers desire with no lock-ins or withdrawal fees, and better peace of mind. For more information about the Singlife Account, visit https://singlife.com/manage/. However last I tried, there is a cap of S$20,000 limit of transfer out per account per day so do take note.
The physical card
The Singlife Account is Singlife’s flagship everyday insurance savings plan that comes with a free Visa Debit Card, carrying no FX fees for foreign currency transactions.
The protection by SDIC
The Singlife Account and Grow are protected up to specified limits by Singapore Deposit Insurance Corporation (SDIC).
This is not a sponsored post. This is purely my own opinion after using their service and/or products. If you like what you are seeing, do remember to check they out and do your diligence. There is no one size fits all investment strategy. Just take note to use this code to get your credits – “ki02dAhi“
For cash solutions, there are plenty of those around on robo-advisors. Cash solutions actually mean as good as cash. They can also be termed as money market solutions. In terms of allocation, they can be considered riskier than holding cash and less risky compared to bonds. Generally, the risk is lower as compared to any investments.
Most of the solutions are termed as cash management. It may sound complicated, it is just another term or a financial description.
i. It can be a series of money market funds combined to get a yield.
ii. Some of these cash solutions also be cash backed by loans/mortgage/cheap loans.
iii. When there are deals or directive from a company, there can be a combination of marketing dollars and promotions. These benefits the consumers usually.
There are multiple creative fiduciary ways to get a better yield however not all are covered under SDIC. This means that if there is a bank run – Your first S$75k in the bank covered by SDIC is secure.
The SCB Bonus Saver account
Standard Chartered Bank is running an interesting promotion for customers who currently do not have a Bonus Saver Account. The clause is that you need to transfer fresh funds (Not from Standard Chartered Bank) to the newly opened Bonus Saver account.
As a result from using SingPass to apply online, you will get an additional S$30. (Total: $208 via Bonus Saver + S$30 via SingPass) Hang on there. If you sign up via SingSaver, you get a little more!
a. The first condition is to fund SGD 50,000 into the Bonus$aver account until the end of the next month. This means that if you opened the account in May, you have to keep the cash in there until end of June)
b. The second condition is to take note of the promotion end date. That will be 31 May 2021. There is still 10 days to go from today 21 May 2021. The account opening is almost instantaneous.
Option wise, you can choose to get a set of Apple AirPods Pro (worth S$379) or S$250 cash when you make a min. fresh funds deposit of S$50,000 + S$30 cash upon account opening. Validity will be till 2 Jun 2021.
(Total: $250 via Bonus Saver + S$30 via SingPass) Sweet.
Take note of the charges
After you receive your payout take note of the – Fall below fee (fee incurred if you fail to meet the minimum average daily balance of S$3,000): S$5 per month [This is the item you need to take note of]
Early account closure fee: S$30 (within 6 months of opening) [Close it after 6 months if you do not require this account]
Cheque book fee (optional): S$10 [Not required in my opinion]
Debit card annual fee: S$20 [I don’t think we will get there]
Credit card annual fee: S$214 [I don’t think we will get there]
How to apply?
If you are looking to apply for the Bonus$aver account and Bonus$aver credit card, you will have to be between 21 to 65 years old.
I’m not a big fan of Singtel but as usual, don’t go against anyone or anything that gives you a decent deal. Dash is basically a digital payment App. They have developed the interface to include deals and a rewards scheme if you use their app to buy, remit or top up SIM card or international air time. Basically, like a grabpay app but suited to fit in their own services.
If you use Singtel Dash to shop, dine and spend this festive period, Dash users will earn a bonus chance to shake the Dash snow globe within the app and win a sure-win prize so long they meet any of the criteria from now till 31 Dec 2020:
Make a min $20 hi! SIM card top-up / Make an international air time top-up of $10
Make a purchase of minimum $10
This is not a sponsored post. This is just a tool and exploration to find out discounts and deals. It is never too much to learn and know more about.
If you like what I am sharing, use my Dash referral code and both you and I will get up to $2 cashback for your first Singtel Dash transaction. Sign up with the referral code DASH-RYJKN or tap on this link SingTel Dash now
This picture image was taken off Singtel Dash for illustration purpose only.