Articles
Announcement: MoneyOwl rolls out a series of new initiatives to help Singaporeans manage their finances better in these trying times
As an NTUC Social Enterprise, MoneyOwl has inherited a legacy of doing social good and caring for the community. We care about helping ordinary Singaporeans manage their money well so that they can reach their life goals. In light of Covid-19 and the recession, our...
Principle #2 – Insurance is for Protection
If you were asked to key in your life insurance premiums into a budget worksheet, how would you classify it – as an expense, saving or investment? If your insurance plan has a cash value, you might treat it as savings. If your insurance plan buys units in a unit...
Investment Principle #10 – If You Can’t Beat the Market, Own the Market
In the last few articles, we learnt that it is hard to predict the markets and while it’s possible for some people to sometimes outperform the market, it is difficult to do so consistently. And the reason for this is because markets are efficient – it represents the...
Investing Principle #9 – Invests as if Markets are Efficient
Imagine you have won a pair of limited-edition Nike sneakers in a lucky draw but want to sell it on Carousell. Since you are unaware of its real value, you set the price at $80. Someone who works at a Nike Shop who knows that it is worth at least $300 in the market,...
Insurance Principle #1: Insurance is an Expense
For most of us, buying insurance isn’t exactly a conversation starter and for some, it could conjure up negative feelings, depending on how you think about insurance. Nevertheless, it is an important topic as it sets the foundation of our financial plans and...
Investment Principle #8 Don’t Try to Predict Markets
Some people think that investing is like gambling or buying lottery - to win you need to guess correctly and bet on the winning number(s). Some go the extra mile of compiling the past winning numbers so as to predict what the next set of winning numbers will be....
4 Best Child’s Education Savings Plans in Singapore
Start Planning Early There is an immense joy that comes with parenthood. While we savour the joy our children bring into our lives, we are also constantly thinking about their futures. In particular, their education is the biggest concern and is a major financial...
Changes in CI Definitions & MINDEF-MHA Group vs Individual Insurance: What you need to know
If you have not heard, all insurers would have to adopt the new 2019 Critical Illness (CI) definitions set out by the Life Insurance Association Singapore (LIA) from 26 August 2020. The new 2019 definitions are more specific and have added exclusions. For Major...
Help! How do I make sense of the new Critical Illness (CI) definitions?
Unless you’re a medical practitioner or a healthcare worker, you’re unlikely to have studied the definitions of critical illnesses in your insurance policy. These definitions play an important role in determining whether you are eligible to claim from your policy in...
Singapore’s Term Life Insurance Comparison Table (July 2020)
It is difficult to compare insurance policies between different companies. To provide greater transparency, we compiled this comparison table so that consumers can compare term life insurance policies across insurers in Singapore and make informed decisions when...
Singapore’s Term Life Plus Critical Illness Comparison Table (July 2020)
In this comparison table, we compare all Term Life with Critical illness insurance plans in Singapore. While a hospitalisation plan helps to cover the costs of a hospital stay, a critical illness plan provides for post-hospitalisation treatment costs and alternative...
How To Save The Smart And Safe Way?
In a recent survey of 1,000 Singaporeans by OCBC, 50% of respondents said that they do not have enough savings to last them at least 3 months of their monthly expenses. What this means is that in the event of a job loss, about half of us would need to find another...
