The thing about Cards (Being Credit card, debit card or prepaid card), there seem to be a trend of introduction usable physical card. Just to name a few, Razer Card, Big Pay Card, Wise Card, GrabPay Card, Singlife card and an upcoming card Hugo Card. There is just too many of these around isn’t it. I’ll say it isn’t a bad thing, It is indeed a little troublesome but as long as you manage it properly, it will assist you in your little own personal finance journey.
You Trip Card
Today, I shall discuss more about the YouTrip card. It used to be a wonder travel card before the pandemic hit. Basically, you get superb FX rates when you use the YouTrip card to make a purchase in a foreign currency. Pretty decent I say. Yes, it is another card and you need to preload the amount in SGD (If you dont have any other currency). The max limit I believe will be the same, which is S$5000 at any point in time and an annual limit at S$30,000.
Within their app, you can store any of the following 10 currencies:
Australian Dollar (AUD)
Euro (EUR)
Great British Pound (GBP)
Hong Kong Dollar (HKD)
Japanese Yen (JPY)
New Zealand Dollar (NZD)
Singapore Dollar (SGD)
Swedish Krona (SEK)
Swiss Franc (CHF)
United States Dollar (USD)
Pros:
It has a great Forex Exchange rate if you need to purchase an item in another currency
They don’t charge you any other fee except for the amount they need to pay Mastercard as a service provide.
It works just like any other card that you use. Even has a pay wave function.
You can most likely use a credit card or debit card to top up the You Trip Card. Pre-Paid cards are most likely not accepted.
Cons:
You can’t add it to your mobile wallet.
It is a Debit Card (Meaning you need to preload the amount in there and it is capped at S$5000) at any point in time.
You also cannot take that money out once you have put it in so think wisely.
Other than good Forex rates, there are no perks, rewards or cashback so it really depends on what you are looking out for.
Disclaimer
If you decide to sign up on the You Trip Card, do remember to use my referral code: You Trip Card Referral Link, You will get S$5 once you made your first top up to the card and I will receive the same too.
If you like what I am sharing or if it resonates with you, do use my referral codes for other services at Referral and Recommendations
These pictures were taken off You Trip website for reference
I have been later for one quarter in 2021 in terms of updating. Nothing much has changes for the StashAway portfolio. Similar to Endowus, it is on auto-run and monthly additions are placed into different portfolios. I am still on the risk index of below 20%, split all the risk portion for 3 different portfolio. I still maintain that having calculated risk per $ makes more sense in my opinion. It doesn’t mean high risk high rewards although it can give you high rewards.
As I have always preached, the important thing is that I am not left on the sidelines. If Mr Market decides to go either way, it would matter that much to me in my opinion. If Mr Market drops, then I will add on more to the portfolios. That is what I believe will work for me for my traditional and rather stable investments.
Retirement Portfolio A (risk-14%)
The SRS account since deposit is currently at +2.11% as on 8 Apr 2021 (Time-weighted return). I think this is quite okay as I entered the market at a high before it dropped in March 2020. Performance wise, I think it is decent and also this is a super long term portfolio – I would say close to 25 years horizon so I’ll just leave it there to monitor on the progress. It was at around +3% in Dec 2020 but oh well. Let it be i guess.
In USD performance, that’s about 5% (Time-weighted return). That’s expected.
Education Portfolio B (risk-16%)
This portfolio is set out to be on a 15-18 year investment horizon. It is at 7.63% on 8 Apr 2021 and I think that this is pretty good. It’s the same as the last time i measured during Dec 2020. I have been averaging in whenever there are market dips. The risk index is at 16% and I will adjust those risk levels as and when I feel that there is a risk on or off.
In USD, I’m looking at double digits 11.75% (Time-weighted returns)
Education Portfolio C (risk-20%)
For this portfolio, I look at this at shorter horizon of 12-15 years so I feel that I need to take on some risk to achieve my goals. This SA risk index is currently at 20% and will take on to be one of my riskiest portfolio. Return is at 14.42% (Time-weighted return) at inception as at 8 Apr 2021 Not much of it has changed or rather it has dropped slightly but this is just a note to self and measure the monthly performance. Over time, more funds will be added to achieve the targeted invested goals.
In USD terms, we are looking at 18.81% (Time-weighted return). Looking great I feel.
Conclusion
So far StashAway has been a great supplement as a robo advisor. I will try to do more regular updates as a reminder to self. After using a few robo-advisors, I find that SA will play second fiddle to my Endowus Portfolio. The year of 2021 should be a test of time for most portfolios. I still believe that rebalancing regularly will be the key.
StashAway does have their own advantages. They do hedge their portfolios against huge crashes and take a stand on some positions which I do like because a lot asset managers don’t and even though they talk big about macro. I can’t see those actions being translated into customer’s returns.
To sign up or try out Stash Away, visit the website and use my referral code at Stash Away Referral
We’ll both get up to $10,000 SGD managed for free for 6 months which is a good deal.
Disclaimer
If you like what I am sharing or if it resonates with you, do use my referral codes for other services at Referral and Recommendations
The pictures were taken from the Stash Away website for this article.
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
Remitting $400
Disclaimer
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.
Shopping for groceries, ordering food from the food apps and online shopping has taken over the world. Covid-19 has made the world to go online and digital in over a short span of time. I find the transformation amazing to the point where businesses are starting to show that they value the digital aspect of promoting their products and services. In Singapore, I do see that many businesses are transforming and redesigning their businesses to a different model as before. However, there are still those black sheep who are out there to just cheat or jack prices up to profit from scarcity.
Shopping
Speaking of shopping online. This is a really cool site to download the app into your mobile phone. This is a local company named Shopback. It gives you cashback into your account for any online spending. These days, you can link your credit card and once you spend on your credit card, the cashback automatically gets credited to your Shopback account. Talk about convenience. There is a new function that Shopback has and that is to purchase vouchers directly from Shopback. You can even use the credits from the cashback you received from previous purchases. That’s stacking more deals and more discounts.
Cashback
Each time you use your card on eligible brands and products (F&B, hotel staycation, vouchers and etc…) there will be a cash back amount allocated to you. The cash will be credited to your account ranging from 3 days to 3 months depending on when the merchant pays them for referring or recommending their products. To a certain extent, it is similar to affiliate marketing. Instead of paying out in marketing costs, the merchants pay affiliate marketers to promote their brands and Shopback gives back a portion of that commission back to the consumers as a form of incentive.
Enough said about getting more bang for your buck. Try it out and see it for yourself. We both earn a $5 bonus once you use my code and spend $20. Easy Peasy.
Save more by using ShopBack to earn Cashback. Download the app and sign up with my referral link to get $5. You can thank me later! https://app.shopback.com/OXuizVNBy9
Even More Cashback?
With the recent 9.9 sale, using a Citibank credit card seem to net you more cashback than usual. Something like additional 3% more cashback but not too sure when that would last till. Promotions don’t last forever so while stocks last. You can actually buy online vouchers from Qoo10, comfortdelgro, grab mart, grabfood, grabtaxi, pupsik, fairprice, GV and more
During random periods or campaigns, they may have upsized cashback deals which doubles the % of deals to your account once you make a transaction. From local brands to big global brands, grocery shopping and ticketing. I’ll say it is a no-brainer.
Disclaimer
This is not a sponsored post and purely my own opinion that I am writing about in my thoughts. If you like what you are seeing, do remember to check they out and do your diligence. Don’t be too fixated with what is the best.
The Singapore electricity market decentralised some time around 2015 and that made way for the big commercial companies to change their electricity supplier. The bulk of electricity are consumed by the business/commercial companies. As an estimate, the ratio of consumption is probably around 65/35 in terms of consumption. The Open Electricity Market started out in phases since November 2018. There was a trial run for 100k households and small businesses in the Jurong Area in April 2018 and these guys get to save at least 30% off the electricity bills! That is such a good deal and a first mover advantage.
The Start of OEM
Since November 2018, it was a phased launch to open up the entire Singapore to all residential households and smaller businesses. By May 2019, Singaporeans can choose the electricity retailer of their choice. It is interesting and unique to see this happening in this small island because SP Group is the monopoly in such nationwide infrastructure. I used to know nothing about the electricity market until such an initiative was discovered. The fact that SP Group remains as the electricity grid provider and transmission lines is indeed unique only to Singapore.
What this means is that all generation in Singapore has to go through the National Grid and in return, the power supply remains consistent, stable and reliable. Not much of a difference I would say.
If there are power outages or blackouts, the whole responsibility still lies with SP Group and you have to contact their 24-hour hotline. These outages has nothing to do with the generation firms. So the key question is still, how is it that these retailers can provide a lower pricing as compared to regulated tariff. (Electricity Rate Tariff is revised every January, April, July and Oct)
Electricity Retailer
From digging up articles and information online as well as speaking with the respective retailers, the simple answer to this question is:
Regulated tariff was formulated. It is similar to how Airlines price their seats which oil prices play a part in that calculation. From only buying electricity from SP Group (It takes in and calculate the 2.5 months of Brent Oil in USD) as part of the formula.
The retailer price, however depends on the bring of electricity they buy from the wholesale market (www.emcsg.com) and from their portfolio in Electricity Futures.(Which is traded in SGX) As a result of a different formulation, this allows the retailers to price in roughly about 15-25% cheaper as compared to the Regulated Tariff.
There is an interesting write up that talks about how prices are cheaper from Ohm Energy here Ohm Market Outlook. Of course, there are also retailers who are willing to absorb all costs to get more customers. As long as there are no hidden costs, we stand to benefit.
The Power to Choose
Now, for the exciting part. there are a 12 choices to choose from. We, as consumers should benefit from the increase in competition from different retailers. I will try my best to let everyone know what are the things to look out for before you switch to a retailer:
Not just the Price
a. First thing first – Do not sweat the small stuff. Cheap does not mean that it is good. Cheap is just the first step to getting your attention. Prices can be compared at the Price Comparison Website which is the official comparison website atCompare.
Good Reviews Online
b. Check out the reviews first. You can go to Facebook, Google, Retailers’ website, Value Champion, SeedlyReviews and many more. Do not underestimate the power of reviews. Don’t let cheap cover your eyes.
This retailer penalises you for forgetting to renew your contract at 5% off the tariff.(What a rip-off! I’m sure there are a few more of such retailers around) A friend of mine told me that Geneco, Tuas power and Union Power renewed their contract at 10% off regulated tariff so please check your contracts.
Renewal Clauses
c. Look at the renewal clauses. It is extremely troublesome to keep switching retailers once every 6/12 months. Some retailers are just out there to rip consumers off by renewing you on a bad renewal contract if you forget. You have to write these guys off permanently.
Choice of Billing
d. What do you prefer? Consolidated fuss-free billing or more separate billing?
What Type of Plans?
e. No perfect plans. Just what s more comfortable for you.
If you want to be paying cheaper than Regulated Tariff then go for the Discount off Tariff price plans. The cons is that if the tariff goes higher, your rate may be higher as well.
If you wish to have some form of fixed pricing, then go for the Fixed Price plans. The cons is that if the tariff goes lower, then your rate will remain at the fixed rate.
Fees and Hidden Charges
f. Take note of Fees and Charges. If you want to just take on a long term contract, make sure you do know the criteria if you can transfer your contract to a new address without incurring an ETF or other fees.
For example Early Termination Fees if you terminate your contract Early.
Late Payment Charges
Transmission Loss Charges
Extra fee for Hard Copy bills
Fee charges for failed payment (Credit Card/Debit Card)
Fee charges for failed GIRO application
Admin Fee if you failed to provide the proper documents to a retailer
Consumer Safeguards
g. There are consumer safeguards so there is no need to worry that your lights will go off. It’s just that it is going to be a little troublesome if anyone goes bust. You can read more about these safeguards here: Consumer Safeguards
It is a no-brainer and there is no catch. Just switch and you are on your way to cheaper bills. You just need to be wary about the retailer you choose from. There are no risks – What you have is literally a financial contract on a rate you agree to sign up on for a certain period. (If you decide to go on a contract plan) If you wish to go on a no commitment, no contract plan, you can check out Ohm Energy. They are one of the rare retailers who offer such plans.
Who did i choose?
Personally, I really prefer Ohm Energy. You can check them out here at Ohm Energy.
Positive and Good Reviews
A. The reviews are literally positive and they look rather solid. They are also Most Popular at Seedly Reviews.
Great Customer Service
B. The customer service seems to be the center of all the buzz which I really like. When I have a query, the response that i get from the customer care is quick and concise. Not quite what I have seen elsewhere.
Nice Colours and Branding. Even the Name Sounds Cool
C. The branding is just appealing to me and everything is done online. I am so done with roadshow salesperson. They are just out there for a single purpose.
Renewal Bonus
D. When you renew, they have a renewal bonus and also they renewal you at the market rate during the renewal period. That is fair.
Referral Program and more Savings!
F. You can also refer as many friends as you want. That is S$20 for both referrer and referee with no cap. Thumbs Up!
Consolidated Bills
G. Consolidate SP Billing with them means that the payment arrangement, Security Deposit, Hard copy bills all remains the same. That is really easy.
Trial Period
H. For New Customers, they have a three month trial period to try them out. If you decide to switch out before then, there are no fees involved. That gives me confidence about how much they are willing to let you “Try them out”.
If you do select Ohm, do remember to use my referral code: OHMREF3F28B7(Input into the promocode field and click apply at Step 3 of the application)
In the past, there used to be only 3 players in the telco market – Singtel, Starhub and M1. They sort of formed into a monopoly where 5.2 million people on the island will choose either of the 3 companies. All things change when Circles.life came into the picture and to be honest, it was such a game changer that almost instantaneously switched to them at the earliest time possible once my contract was up. Notably, Singtel has the best coverage in Singapore and underground but they were keen on only making profits for themselves.
The comparison
After some time, all three incumbent were forced to break off from their current model into a SIM only plan. This has been really great for consumers in particular as more competition means more competitively prices plans and better customer service. Of course, the incumbent truly matched the competition and eventually I switch out to GIGA, a SIM only plan from Starhub.
Benefits
The real benefits of going with GIGA means that for a basic plan,
a. S$18 for 20GB of data, 200 mins of outgoing calls, 200 SMS, free caller ID and free incoming calls and incoming SMS.
b. For unused data, you can carry over to the next month (Capped at 2x the base data – 20 GB x 2 = 40GB
c. No contract means, flexibility and freedom to cancel the contract anytime.
d. Signup is digital only – meaning you can only sign up online. You can use the GIGA app to access your account as well as setup your payments. They accept most major credit cards.
e. There isn’t any IDD so for for overseas usage. You would need to buy either gigaRoam (Asia Pacific) or gigaRoam (Rest of the world)
f. There is a small registration fee. You also need to arrange for the SIM card to be delivered to you. However, you can use a referral code to supplement the discount. You will get a one time $20 gigabucks off the 25GB plan or a one time $42 gigabucks off the 50GB plan. Use my referral code – “LhS9Ng”. The referral credit is only valid for any plans except the basic $10 GIGA plans.
Others
The downside of using GIGA is that you can’t surf the internet while on a call. (E.g. checking for emails or stuffs while on a call. However, if you have your WiFi switched on, it works perfectly) You can still receive OTP (One time Pin) while still on the call so that’s not too much of a worry.
Generally, I like the interface, colours and customer service support on GIGA. They even have a live chat function but you need to clear your cache regularly as it seems like it is stuck on my app most of the time. It is fuss-free and simply to use. I’ll say that they are trying hard to evolve and re-invent themselves. I don’t have too much faith with Singtel and GOMO so this is my next best choice.
GIGA just launched a 40GB data, 300 SMS, 300 outgoing calls at $20 for 12 months. It is still a no contract plan but that it reverts back to $30 a month from the 13th month onward.
From time to time, they will launch limited time offers like the one above. You can visit their website to find out more: https://www.giga.com.sg/
In the past, there used to be only 3 players in the telco market – Singtel, Starhub and M1. They sort of formed into a monopoly where 5.2 million people on the island will choose either of the 3 companies. All things change when Circles.life came into the picture and to be honest, it was such a game changer that almost instantaneously switched to them at the earliest time possible once my contract was up. Notably, Singtel has the best coverage in Singapore and underground but they were keen on only making profits for themselves.
After some time, all three incumbent were forced to break off from their current model into a SIM only plan. This has been really great for consumers in particular as more competition means more competitively prices plans and better customer service. Of course, the incumbent truly matched the competition and eventually I switch out to GIGA, a SIM only plan from Starhub.
The real benefits of going with GIGA means that for a basic plan,
a. S$18 for 20GB of data, 200 mins of outgoing calls, 200 SMS, free caller ID and free incoming calls and incoming SMS.
b. For unused data, you can carry over to the next month (Capped at 2x the base data – 20 GB x 2 = 40GB
c. No contract means, flexibility and freedom to cancel the contract anytime.
d. Signup is digital only – meaning you can only sign up online and use an app to access your account as well as setup your payments. They accept most major credit cards.
e. There isn’t any IDD so for for overseas usage, you would need to buy either gigaRoam (Asia Pacific) or gigaRoam (Rest of the world)
f. You would need to pay a small registration fee and arrange for the SIM card to be delivered to your preferred location. However, you can use a referral code to supplement the discount. You will get a one time $20 gigabucks off the 25GB plan or a one time $42 gigabucks off the 50GB plan if you use my code – “LhS9Ng”. The referral credit is only valid for any plans except the basic $10 GIGA plans.
The downside of using GIGA is that you can’t surf the internet while on a call (for e.g. checking for emails or stuffs while on a call however if you have your WiFi switched on, it works perfectly) but you can still receive OTP (One time Pin) while still on the call so that’s not too much of a worry.
Generally, I like the interface, colours and customer service support on GIGA. They even have a live chat function but you need to clear your cache regularly as it seems like it is stuck on my app most of the time. It is fuss-free and simply to use. I’ll say that they are trying hard to evolve and re-invent themselves. I don’t have too much faith with Singtel and GOMO so this is my next best choice.
GIGA just launched a 40GB data, 300 SMS, 300 outgoing calls at $20 for 12 months. It is still a no contract plan, just that it reverts back to $30 a month from the 13th month onward.
From time to time, they will launch limited time offers like the one above. You can visit their website to find out more: https://www.giga.com.sg/
