By Joanne Poh, via moneysmart.sg
Singapore’s laws remain depressingly old-fashioned when it comes to certain things. And nowhere is this clearer than in the way single parents are penalised. It’s almost as if it’s your fault for being a single parent.
While a lot has been done to make parenthood less financially taxing such as the Baby Bonus and HDB subsidies, single parents are often left out in the cold and denied the same degree of support.
This despite the fact that it is often precisely single parents who need help most in the absence of a spouse to share the physical, emotional and financial burden of raising a child.
If you or someone you know is on the brink of single parenthood, this guide will help you to see at a glance which grants, subsidies and financial assistance you qualify for.
Whether you’re casually dating, moving in together, or married, you and your partner have to be sure you’re not just compatible in terms of personality but also financially. Is your partner a saver or a spender? How seriously do they take debt? Do they have a monthly budget? Here’s how to tell if you’re financially compatible with your partner.
Singapore — The proposal to enhance the benchmark, which is used as reference for mortgages, was announced last week. Analysts said these changes, if implemented, will cause the benchmark to be more sensitive to market conditions.
By Lynette Goh, via moneysmart.sg
SINGAPORE — So you’ve just seen how much you’re paying this month on your home loan, and you’re seriously considering switching to another bank with the lower interest rates… Except you don’t know if refinancing is a good choice. Will it really be able to save you money in the long-term? Is the cost of refinancing really worth it? Here are some costs you will encounter when refinancing your home loan:
DBS no longer sole provider in three-year fixed-rate space; BOC’s package has varying yearly rates; OCBC conspicuous by its absence
SINGAPORE — Banks in Singapore have started a mortgage war, spurred by the lower interest rate for a longer duration, to the delight of the legions of home buyers who are pouring back to a buoyant residential market.
Last week, both United Overseas Bank (UOB) and HSBC launched three-year fixed-rate home-loan packages which until now had been mainly the preserve of DBS Bank, the nation’s largest housing-loan provider. Bank of China (BOC) also has a three-year fixed-rate package but with varying yearly interest rates.
By Dinesh Dayani, via dollarsandsense.sg
SINGAPORE — During a recent reservist In-Camp Training, I had meaningful conversations with my buddies. Over the years, 10 years in total, our conversations evolved from talking about furthering our studies and girlfriends to discussing our education and finding a job, and eventually to investing and starting a family.
One of my conversations with a close buddy was about investments. This was quite prevalent during this reservist because I’m writing for DollarsAndSense. What struck me when I spoke to him was that my friend believed that buying a 4D ticket from Singapore Pools was akin to making an investment.
By Lynnette Goh, via moneysmart.sg
Sometimes adulting can be really difficult. Especially when we’re trying to get a home in Singapore and we know zilch about the terms used in home loans. All these home loan terms and jargon bankers are using… What if we accidentally sign our life away to slavery?
In the event of a dispute, our chances of wriggling free are probably about the same as a sick snail in a Sumo wrestler’s armpit. In court, we can’t tell the judge we didn’t know what this or that term meant, ignorance just isn’t a legit excuse in the court of law. Here’re a few basic terms that you’ll encounter in your home-buying process and what they mean: