Being in university means that you should be ready to embark on your financial planning journey soon. Although you are not financially independent yet, you should strive to be as informed as possible because it is always good to have a head start.
If you are not sure where to begin, this guide will provide you with useful links to resources that will help you get started.
#1 Financial Literacy Quiz
Based on survey data from S&P Global, only 66% of youths (15 – 34 year olds) managed to get at least three out of four questions correct. Take the Global Financial Literacy Survey to find out how you fare compared to other Singaporeans.
#2 Cheat Sheet For Savings Accounts In Singapore
This cheat sheet compares savings accounts provided by different banks so that you can choose where to open an account, if you don’t already have one.
#3 Budget Tracking Apps
Allocating a budget and keeping track of your spending are good habits vital to successful financial planning. Budget tracking apps make it very easy for us to cultivate those habits. We tried out four different apps and this is the conclusion on our favourite one.
#4 Free Financial Literacy Talks
The Institute for Financial Literacy is a collaboration between MoneySENSE and Singapore Polytechnic. Sign up for the free public talks that range from topics like Loans and Credits to Retirement.
#5 Guide To Expenses
What will you be spending on and how can you cut down your expenses? This two-part guide will tell you all about it: Part One – Living Expenses | Part Two – Fixed Expenses.
#6 Guide To Loans
If you are getting a student loan, here’s what you need to know beforehand. Even if you are not, you would still need a loan in the future for your first house or car. Find out what are the different types of loans available in Singapore and the alternatives to instalment loans.
#7 Making Your First Investment
It is daunting when it comes to buying your first stock. To help you be more prepared, the above article guides you through six things you should know before you make your investment. Remember that you can only become a good investor by learning from your experiences, so don’t be afraid of making small mistakes!
#8 Wedding Costs
Just a heads up – it’s not cheap so you need to start saving if you are planning on getting married.
#9 HDB BTO guide
Graduating and getting married soon? This article picked out the five most important things you need to know before you buy your first BTO. Make an informed decision by understanding what will be required of you and what the available grants are. For more information, you can check out the HDB website.
#10 CPF Retirement Estimator
The retirement estimator is a less intimidating version of the Retirement Calculator. It gives you an estimation on how much you will need to put aside every month in order to live a lifestyle of your choice during your retirement years.
You may think that it is too early to start thinking about all these things, but it’s always better to plan early than to be in for a rude shock later on!
Read Also: 5 Bad Financial Habits To Get Rid Of While You Are Still In University
Top Image Credit: DollarsAndSense.sg
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