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aB o w
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A GUIDE INTO ADULTHOOD, TO MAKE

YOUR TRANSITION LESS STRESSFUL.
 Content Page
STAY BROKE / STAY WOKE
WHAT FINANCIAL PLANNING IS
PROTECTING YOUR $$$

SAVE SMART
DON'T LET YOUR SAVINGS ROT
CHOOSE YOUR BANK ACCOUNT

CREDIT CARD
CREDIT CARD = BAD DEBT ?
PICK YOUR CARD

CPF
TYPES OF CPF ACCOUNTS
MAXIMISE YOUR CPF SAVINGS

MIND OVER MONEY

REST = SLEEP ?
TYPES OF REST WE NEED
STAY BROKE
or
STAY WOKE
 FINANCIAL PLANNING
BACK TO BASICS
Allocate your money using the 4-3-2-1-rule.

NEEDS
Food, Transport, Utilities, etc.

SAVINGS & INVESTMENTS

WANTS
Shopping, Entertainment, etc.

INSURANCE

It's important to get insurance done before

you think of wealth accumulation.

Every plan has a purpose. A proper financial

plan means that if anything happens to you,
you don't have to liquidate your assets and
properties to secure an income.

Click here for a free Finance Tracker

 PROTECTING YOUR $
Think of insurance as hedging against the risk
of losing your assets and income.
Understanding and managing your risks is
being responsible for yourself and your family.

CLAIM
TYPE PURPOSE
ELIGIBILITY*

Death & For your family to take care Death certificate

of expenses left behind by TPD: 2/6 of body
TPD you parts gone

To cover expenses
Warded for at least
incurred during your
12 hours and/or
Hospital hospitalisation period
undergo surgery in
including pre & post
an operating theatre
treatments/consultations

Personal To cover your expenses Receipt of bills after

Accident incurred due to accidents. seeing doctor

To provide a lump sum pay

Doctor's letter
out to cope with living
Critical stating diagnosis,
expenses (medications &
Illness which critical illness
treatments, new lifestyle
and what stage
habits etc.)

Doctor's letter
To replace your last drawn
stating diagnosis,
Disability salary in the event you
severity of disability,
Income can’t continue to perform in
impact on everyday
your current job physically.
life

*Disclaimer: Claims eligibility differs from company to company, please check your
respective policy schedules or with your financial consultant on exact claim conditions.
 SAVE
SMART
 DON'T LET YOUR
SAVINGS ROT
When payday comes, we access our
iBanking apps and celebrate our monthly
pot of gold. But did you know most accounts
only give a measly 0.05% basic interest rate
on our savings?
Maximise your savings by selecting an
account that gives a high interest rate. This
can be boosted with different mechanisms.

Typical mechanisms are:

Salary crediting
Card spending
Bill payments

To select the best account for yourself,

evaluate your lifestyle choices and
strategize how you spend money.
In the next pages, see how selecting a
suitable account can help you achieve
interest rates of above
 CHOOSE YOUR BANK*
UOB One Account

Total Interest

Spend min. $500/mth on Spend min. $500/mth

Account Monthly
eligible UOB Card on eligible UOB Card
Average Balance
+ A) Credit Salary of min. + B) 3 GIRO debit
(MAB)
1,600/mth transactions

First $30,000 3.85% 2.50%

Next $30,000 3.90% 3.00%

Next $15,000 4.85% 4.00%

Next $25,000 7.80% 0.05%

Above $100,000 0.05% 0.05%

Fall below fee: $5/month if monthly balance falls below $1,000

OCBC 360

Bonus Interest Categories

Spend:
Account Salary: Save:
min. Grow:
Monthly $1,800 MAB Insure: Invest:
$500/m MAB of at
Average /mth increase Eligible Eligible
using least
Balance via by min. products products
eligible $200,000
(MAB) GIRO $500/m
cards

First
2.00% 1.20% 0.60% 1.20% 1.20% 2.40%
$75,000

Next
4.00% 2.40% 0.60% 2.40% 2.40% 2.40%
$25,000

Fall-below Fee: $2/month if monthly balance falls below $3,000

 Standard Chartered Bonus$aver

Bonus Interest Categories

Spend: Bill
Salary:
Account min. Payments:
$3,00 Insure: Invest:
Monthly $500/mth 3 online
0/mth Eligible Eligible
Average using payments of
via products products
Balance eligible min $50/mth
GIRO
cards each

$500 -
$1,999:
First
2.50% 1.30% 0.33% 1.50% 1.50%
$100,000
> $2,000 :
2.05%

Fall-below Fee: $5/month if monthly balance falls below $3,000

CIMB Fastsaver

Account Monthly Average Balance Interest

First $25,000 1.50%

Next $25,000 2.50%

Next $25,000 3.50%

Above $75,000 0.80%

Standard Chartered JumpStart

Eligibility Interest

18 - 26 years old only 2.00% for balances < $50,000

*Disclaimer: information from this section was compiled from each bank’s website and is
correct as of Jun 2023. Check out each bank’s website for more updated information.
Credit Cards
CREDIT CARD=BAD DEBT?
Credit Cards allow you to purchase items
using the bank's money first, while you
return that sum at a later date!
It is different from a debit card, which takes
money directly from your account (aka your
money) to make a purchase.

REASONS TO USE A CREDIT CARD:

It helps you build a credit
score! Paying the bank on
time indicates that you're a
"trustworthy" borrower, and
they'll be more willing to
loan you money in future.
This is important for big
purchases such as a home.
It protects you from scams!
If there's a fradulent
purchase on your card, the
maximum you're responsible
for is $100*. Since the
money doesn't come
directly from your account,
you’re protected from losing
a larger amount!

It keeps you on budget!

Most cards allow you to set
a spending limit so you
THE REWARDS 🤩🤩🤩
know the budget left.
What's better than spending
and being rewarded for it?
This discourages
unnecessary expenses, and
keeps you on your toes!

*https://www.moneysense.gov.sg/articles/2018/10/protecting-yourself-against-credit-card-fraud
 PICK YOUR CARD(S)*
Credit cards reward your spending based
on 3 different systems.

These are:
1) CASHBACK
These give cash rebates on your monthly
spending, which are usually a percentage of
your monthly expenditure.

2) MILES
These are popular among travel aficionados
to redeem or subsidize flight tickets. They
are accumulated on a dollar spending basis.

3) REWARDS POINTS
Be it conversion to miles, cash rebates, or
vouchers from partner merchants, rewards
points are versatile and easy to use.

To pick your best credit card, first select

your desired reward system. Then, examine
your lifestyle and spending habits to pick
the most suitable card. We've got some
personas to help you with that!
P.S. We operate under gender neutrality!
 Travelling Tracy
Frequent traveler Tracy looks out for travel deals
and ways to maximise foreign currency expenses.
Complimentary travel insurance is appreciated!

PERKS CARDS & BENEFITS

Maybank Family & Friends

8% cashback
CASHBACK
OCBC FRANK
8% cashback, 10% cashback for green merchants

UOB PRVI Miles

- 1.4mpd on local currency, 2.4mpd on foreign currency,
6 mpd on booking tickets and hotels using partner sites
- Up to $500,000 complimentary travel insurance
MILES
HSBC TravelOne
- 1.2mpd on local currency, 2.4mpd on foreign currency
- 4x free lounge access yearly via DragonPass
- Up to USD $100,000 complimentary travel insurance

Standard Chartered Rewards+

- 10x reward points for overseas dining, retail and travel-
REWARDS
related expenditure
- Cap of 20,000 bonus points in a 1 year period
 Grocery Gary
Gary does routine runs to the supermarket and is
the heavy lifter for the family's daily necessities!
Always seeking good value at the grocer's!

PERKS CARDS & BENEFITS

Citi Cashback
8% cashback, min. $800/month spending

CASHBACK OCBC FRANK

8% cashback, 10% cashback for green
merchants
min. $800/month spending

HSBC Revolution
10x rewards points / 4 mpd for first $1,000
spending via online or mobile contactless
MILES &
REWARDS UOB Preferred Platinum
- 10x rewards points / 4 mpd for first $1,000
spending via online or mobile contactless
- Points are issued in blocks of $5
 Petrol Perry
Perry hustles hard as a private hire driver after work,
and always wants to minimise expenditure on petrol!

PERKS CARDS & BENEFITS

OCBC 365
- Up to 22.92% savings at Caltex
- Up to 21.04% savings at Esso
- 6% cashback on all fuel
CASHBACK POSB Everyday
Up to 20.1% savings at SPC

Citi Cashback
8% on all fuel, min. $800/monthly spend

UOB Visa Signature

- 10x rewards points / 4 mpd for petrol, local and
overseas expenditure
- Min. $1000/month in both local and overseas
MILES & expenditure
REWARDS
Maybank Horizon Visa Signature
- 8x rewards points / 3.2 mpd for petrol, dining,
taxi expenditure
- Min. $300/month expenditure
 Foodie Frankie
Frankie is always on the hunt for new cuisines!
Be it eating out or delivery, it’s about exploring
different flavours, textures and cultures of food!

PERKS CARDS & BENEFITS

UOB EVOL
- 8% cashback via online or mobile contactless
- Cap of $20, min. $600/monthly spend
CASHBACK
Maybank Family & Friends
- 8% cashback
- Cap of $25, min. $800/monthly spend

HSBC Revolution
10x rewards points / 4 mpd for first $1,000
spending via online or mobile contactless
MILES &
REWARDS UOB Preferred Platinum
- 10x rewards points / 4 mpd for first $1,000
spending via online or mobile contactless
- Points are issued in blocks of $5
 Shopping Sammy
Sammy is a serial shopper. These eyes light up
whenever 11-11 is mentioned, because why not
shop for cheap and get more rewards, right?

PERKS CARDS & BENEFITS

OCBC FRANK
- 8% cashback, 10% cashback for green
merchants
- Cap of $25, min. $800/monthly spend
CASHBACK
UOB EVOL
- 8% cashback via online or mobile contactless
spend
- Cap of $20, min. $600/monthly spend

Citi Rewards Card

- 10x rewards points / 4 mpd for shopping and
online shopping (including food and groceries)
- Cap of $900/month for 10x rewards points
MILES &
REWARDS OCBC Titanium Rewards
- 10x rewards points / 4 mpd for shopping and
online shopping in certain retail categories
- Cap of $12,000/year for 10x rewards points
 Studious Sally
Sally's time is spent studying and joining
extracurricular activities! Young and ambitious,
Sally wants an exciting job upon graduation!

Unfortunately, unless you're earning at least

$30,000 in annual income, students can't
apply for credit cards that offer so many
rewards yet!

However, you can consider applying for a

student’s credit card: i.e. DBS LiveFresh.
These still offer the many other benefits of
using a credit card!
*Disclaimer: information from this section is compiled from each bank’s website and is
correct as of June 2023. Recommendation of cards for each persona is our own personal
opinion. Check out each bank’s website for more specific benefits, eligibilities,
promotions, and updated information regarding each card.
CPF
 CPF
TYPE PURPOSE INTEREST*

Education
Ordinary
Account
Property
CPF Investment
Retirement
2.5%
Medisave
Account
Medical bills
Insurance 4%
Special
Account
CPF Investment
Retirement 4%
Created when we turn
55, funds from our SA
Retirement
4%
(and sometimes OA)
will be transferred into
Account this account to make up
our chosen retirement
sum
*Disclaimer: CPF Interest rates are reviewed frequently, please check it here.

THINGS TO NOTE:
Total interest capped up to 5% on the 1st
$60,000 (combined CPF balances), and
capped at $20,000 for OA
Residual funds from your PSEA account will be
transferred into your OA when you turn 31.
For Retirement, funds will be taken from your SA
first. If insufficient, the rest will be taken from OA.
Find out more about Retirement Account HERE!
 CPF Insurance
All payable from your CPF accounts

TYPE Purpose

You're automatically in this on your first

Dependants' CPF contribution once you turn 21, unless
you choose to withdraw.
Protection
Scheme (OA) Covers death, terminal illness and total
permanent disability, up to $70,000

Medishield Basic health insurance to make sure there's

some subsidy for hospital bills
Life (MA)

Eldershield / Long term care insurance which provides

Careshield some monthly income to sustain yourself in
the event of severe disability
Life (MA)

Home This helps HDB homeowners keep their

family home in the event of their death,
Protection terminal illness or total permanent disability.
Scheme (OA) Application is subjected to health condition.

THINGS TO NOTE:
All CPF Shield Plans provide lifetime coverage
Dependents' Protection Scheme covers till 65
Home Protection Scheme covers till 65 or
when loan is fully paid (whichever earlier)

Find out more on HPS HERE!

CPF Investment Scheme
You may choose to invest the money in
your OA & SA on these conditions:

Not an undischarged
At least 18 years old
bankrupt

Min. Balance in OA: Min. Balance in SA:

$20,000 $40,000

Purpose: To get potentially higher returns

for retirement.

"Is it wise to transfer your money from OA

to SA for higher interest?"
You should know that this transfer is
irreversible till you hit retirement age. This
means you will have lesser money in your
OA to fund your house & kids’ education!

Find out more!

OR

Contact a trusted Financial Consultant

to start investing today!
 CPF Life
Before turning 65, Singaporeans & PRs can
select the type of CPF Life plan and when to
start their CPF Life payout (at age 65 or 70).

IMPORTANT CONDITION:
You must have at least $60,000 in your RA
6 months before you join CPF Life.

TYPE HOW IT WORKS

All the money in your RA will be deducted

Escalating Provides monthly payouts that increase by
2% annually, aiming to keep up with
Plan
inflation and preserve living standard

Standard All the money in your RA will be deducted

Provides stable and level payouts
Plan

Only 10 - 20% of your RA will be deducted

Basic Provides monthly payouts lower than
Standard Plan which will progressively
Plan decrease, aiming to leave behind a larger
legacy for our dependants.

Contact a trusted Financial Consultant to help

you or your loved ones plan for retirement.
 CPF Nomination
"Why is it important?” So that your loved
ones can receive your CPF savings swiftly
and conveniently.

Without nomination, your CPF monies will be

distributed by the Public Trustee's Office
(PTO) to legally entitled beneficiaries (family
members and next-of-kin) under the
Intestate Succession Act. For Muslims, the
Inheritance Certificate will apply.

PTO will charge a fee for the distribution of

your unnominated CPF savings and this
process will take some time.

"What do I need to prepare?"

1. Full name of nominee(s), NRIC & Mailing
Address
2. Full name of Authorised Person, NRIC &
Mailing Address
3. Full names of Witnesses, NRIC & Mailing
Address

Make your nomination here!

MIND OVER
MONEY
 REST = SLEEP ?
Rest is not just about getting more sleep; it
encompasses more than just sleep, which
explains why we still feel tired after
knocking out for 12 hours.

As life becomes multi-dimensional, we

engage our minds and bodies in various
ways, requiring more than just physical rest.

The chart below shows the 7 types of rest

to prevent exhaustion and burnout, ensuring
we feel truly "well-rested."
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Lacking any of these rests will manifest

themselves in specific symptoms, so you
know which rest to catch up on to feel more
relaxed and upbeat.
 THE REST WE NEED
Physical Rest

Symptoms Aches, swelling, spasms in back, etc.

Passive: Sleeping
Recovery
Active:
Stretching, Yoga, Getting an ergonomic chair

Mental Rest

Symptoms Inability to fall asleep, difficulty in concentrating

Anything that gives your brain a break from

thinking and problem solving!
Recovery
E.g.: meditation, walking, mundane activities

Emotional Rest

Symptoms Inability to be genuine with feelings

Offload and process your feelings unabashedly

Recovery
E.g.: Journaling, therapy, confiding in someone

Spiritual Rest

Symptoms Feeling like your work/efforts has no meaning

Seek out a purpose filled activity

Recovery
E.g.: Volunteering for a cause
 THE REST WE NEED
Social Rest

Symptoms Feeling like everyone’s taking energy from you

Spending time with people who just purely

want to be around you
Recovery
E.g.: dinner with someone who cares for you,
catching up with yourself

Sensory Rest

Symptoms Irritation, anger, sensory overload

Unplug from any external stimuli - do an

activity where your senses are not engaged
Recovery
E.g.: Walking, meditating, reading a book

Creative Rest

Symptoms Being unable to problem solve or be innovative

Allow yourself to appreciate beauty in any form

Recovery
E.g.: Spending time in nature, listening to music

Rest Quiz!
Click to understand what type of rest you need!
As we take our baby steps into adulthood, the
many decisions to consider can make us feel like
a lost young kid. While the financial world can be
difficult to navigate, it is but a tool to achieve
your goals in life. This book is meant to ease you
into these tools, and help you gain some clarity
on how to use them. Don’t worry, your fellow big
kids will be here to help if you need it! 😉

Congrats!
You’re a big kid now!

This e-book was thoughtfully compiled

by your fellow big kids:

@weida.ong @_chiayee_
weida-ong limchiayee

Disclaimer:
The information provided in this book is for educational purposes only. It should not be taken
as professional financial advice which takes into consideration your individual needs. Always
consult with a licensed financial advisor before making any financial or investment decisions