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[2018 Edition] 10 Infographics That Will Help You Make Better Financial Decisions In Singapore

Hate reading? Get your dose of personal finance goodness through infographics instead!

 

The thought of personal finance may bore some people, especially when information is presented in long articles that require time to digest. What better way to learn about personal finance than having your mundane yet important information condensed into bite-sized visuals? These infographics can help you make better financial decisions, just with a glance.

# 1 Family Planning With Baby Grants

Raising a child in Singapore is not cheap but our government is more than happy to financially support new parents on their parenthood journey. This infographic clearly sums up the various grants, schemes and initiatives that you can apply for your newborn.

Read Also: [2018 Edition] Complete Guide to Baby Grants in Singapore

# 2 Budget 2018 Goodies

Even though the planned GST increase took most of the headlines, Budget 2018 had plenty of measures to support middle and lower income Singaporeans. This infographic from the Ministry of Finance summarises these measures in an attractive manner.

Read Also: Singapore Budget 2018: Here Are 6 Important Changes That May Impact Our Lives

# 3 Questions To Ask When Buying Critical Illness Insurance

As one of the most commonly discussed insurance plans, critical illness insurance comes in different variations, which can get quite complex. Hence, understanding your protection needs and how critical illness insurance works is essential to ensure that you are insured by the most suitable plan. Learn about critical illness insurance with these 5 common questions.

Read Also: Guide To Understanding How Critical Illness Policy Works

# 4 Do You Have An Insurance Coverage Gap?

According to the Life Insurance Association (LIA), close to 42% of Singaporeans and Permanent Residents (PRs) aged between 20 and 34 do not have a single life insurance or critical illness policy. This infographic from AIA illustrates examples of how insurance coverage gaps look like, which you can refer to and calculate your own coverage gap.

Read Also: The Glaring Protection Gap Among Young Adults In Singapore

# 5 Insurance VS Investment

Unsure whether to spend your money buying an insurance policy or investment plan? Here is a simple comparison by DollarsAndSense that explains the differences between these essential pillars of personal finance and help you make a more informed decision.

Read Also: Insurance or Investment – Which is More Important?

# 6 Investing Concepts 101: Dollar Cost Averaging

This infographic from endowus illustrates how Dollar Cost Averaging works, which is a fundamental yet useful investing methodology that retail investors with little capital can apply.

Read Also: The Truth Behind Zero Fee Unit Trusts And Funds

# 7 Grants To Support You In Buying Your First Home

Buying a HDB flat is a rite of passage that most Singaporeans go through, so much so that is now shorthand for getting married. Understanding the grants available to them can help young couples choose their dream home within their means.

Read Also: Complete Guide To HDB Housing Grants In Singapore For Different Types Of Flats

# 8 Mortgage Patterns

This insightful infographic from home mortgage broker RedBrick gives a useful snapshot of home loans taken in Singapore. Interestingly, the majority of home loans taken are based on Fixed Deposit interest rates (74.5%).

Read Also: Complete Guide To Choosing The Most Suitable Home Loan In Singapore

# 9 Upgrading From A HDB Flat To A Condominium

If you decide to upgrade from a HDB flat to a private condominium, you may find this infographic from 99.co helpful in providing you with the steps you need to take, such as payment due dates and the legal paperwork required.

Read Also: Buying A Resale Flat In The City? Blogger Jeraldine Phneah Shares With Us Her Experience

# 10 Retirement Planning: How Much Will You Receive From CPF LIFE Every Month?

Before you rush to withdraw your hard-earned money from your CPF once you turn 55, make sure you are well-informed about the CPF LIFE scheme offered. This  infographic by the CPF Board shows you the monthly payouts you can expect to receive depending on the amount of money you have in your retirement account.

Read Also: Retirement Planning In Singapore: 3 Lesser-Known Facts About CPF LIFE

 

Can’t enough of infographics? Here are 10 (more) infographics that help you make better financial decisions!

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