Tier 1 - Basic Money Management

"Dollars & Sense" - 12-part financial series in Streats newspaper

The Consumers Association of Singapore (CASE) and The Association of Banks in Singapore (ABS) jointly launched a 12-part financial series called "Dollars & Sense" in Streats newspaper on 1 December 2003. The articles provide useful tips and information to consumers on how they can better manage their finances and avoid getting into too much debt.

Download the articles here:
- Budget Beginnings (PDF, 1.82MB)
- Managing Your Day-To-Day Money (PDF, 462KB)
- Be Credit Smart (PDF, 1.80MB)
- Teaching The Young To Be Financially Responsible (PDF, 1.76MB)
- Eight Things You Should Know About Credit And Charge Cards (PDF, 2.25MB)
- Choosing The Card That Suits You Best (PDF, 2.04MB)
- Paying For Your Card Purchases (PDF, 1.85MB)
- Shop And Save (PDF, 1.73MB)
- Have Card Will Travel (PDF, 2.13MB)
- Dealing With Card Fraud (PDF, 1.99MB)
- Dealing With Debt (PDF, 1.98MB)
- Credit Bureau: What The Consumer Needs To Know (PDF, 2.09MB)

You may be using GIRO to pay for your bills, but do you really understand how GIRO works? In the first of a two-part series, we explain how you can apply for GIRO and what you should take note of with regards to GIRO deductions. This article is adapted from the "Making Sense of GIRO" FAQ jointly produced by The Association of Banks in Singapore (www.abs.org.sg), the Consumers Association of Singapore (www.case.org.sg) and the Monetary Authority of Singapore.The full version of the FAQ can be accessed at the respective websites.

In this second of the two-part series on Making Sense of GIRO, we talk about the use of GIRO accounts and how you can terminate your GIRO facility. This article is adapted from the "Making Sense of GIRO" FAQ jointly produced by The Association of Banks in Singapore (www.abs.org.sg), the Consumers Association of Singapore (www.case.org.sg) and the Monetary Authority of Singapore. The full version of the FAQ can be accessed at the respective websites.

A bank account allows you to make payments and financial transactions without the hassle of handling cash. Your bank will send you a consolidated statement of account showing your transactions every month. You should take time to verify the correctness of all details contained in each statement of account. MoneySENSE brings you through information in a bank account statement.

Many of us have a current account which allows us the convenience of writing cheques to pay bills. But how much do you know about writing cheques? MoneySENSE highlights some of the features which you need to be aware of.

There is a wide variety of stored value facilities available in the market today. The ez-link card, NETS CashCard and gift vouchers are examples of stored value facilities.  Click here to find out what stored value facilities are and what you should consider before purchasing them.

Singapore introduced a deposit insurance scheme for bank deposits on 1 April 2006.  Click here  to find out more about how the deposit insurance scheme affects you.

Many of us may have used cheques as a mode of payment one time or another. But do we really understand how cheque-clearing works and the areas we should take note of when writing cheques? To find out, click here.

Being a guarantor is a financial responsibility. Consider carefully before you agree to be one.  Click here  to find out the things you should be aware of before you become a guarantor. 

Overdraft (OD) facilities can be a convenient tool to help finance purchases. However, it is important to know the ins and outs of OD facilities before you use them. Click here to find out more about OD Facilities.

Do you know what is a consumer credit bureau and how it impacts you? Read on for tips on how you can maintain a good credit report.

Loans and You

The Consumer Association of Singapore (CASE)and The Association of Banks in Singapore (ABS)jointly launched a 6-part financial series called "Loans and You" in Streats and LianHe WanBao newspaper on 19 November and 24 November 2004 Respectively. The articles provide useful tips and information to consumers on the different types of loans and what they should look out for before taking up a loan.

Download the articles here:
- Borrowing money: Look before you leap (PDF, 2.70MB) (Mandarin version available here (PDF, 2.14MB))
- Repaying loans: Cultivate good spending and saving habits (PDF, 2.69MB) (Mandarin version available here (PDF, 1.92MB))
- About loans: A look at interest and other charges (PDF, 2.47MB) (Mandarin version available here (PDF, 1.92MB))
- Housing loans: Be prudent when taking large loans (PDF, 2.73MB) (Mandarin version available here (PDF, 2.28MB))
- Vehicle loans: What you should know (PDF, 2.54MB) (Mandarin version available here (PDF, 2.22MB))
- Unsecured loans: Where's the catch? (PDF, 2.56MB) (Mandarin version available here (PDF, 1.83MB))

Credit cards provide convenience and are useful for emergency. Do take time to read your credit card statement and pay your credit card bill in full every month in order not to incur interest charges. MoneySENSE brings you through the information in your statement you need to be aware of.

Are you able to spot the danger signs of overspending on your credit card? Do you know the implications of overspending? Read about how one consumer fell into the debt trap with his credit card and pick up tips on how not to fall into the same trap as well as how you can take charge of your finances.

Do you take the time to read the terms and conditions on the credit card contract when you are applying for a credit card? Read about the problems faced by a consumer who did not do so, as well as some common terms and conditions you should be aware of when using your credit card.

On 4 Sep 2009, the Association of Banks in Singapore (ABS) announced new measures to limit credit cardholders' liability.  Click here to view ABS' press statement. Notwithstanding, taking care of your credit cards remains essential to protect yourself against credit card fraud.  Even after banks introduce a cap on cardholders’ liability with effect from 1 Nov 2009, you will need to continue to safeguard your credit cards.  The banks can still hold you liable for unauthorised transactions charged to your card if you have acted fraudulently, with gross negligence or failed to notify the card issuer as soon as you become aware that your card has been lost or stolen.  Click here for a few key steps you should take to safeguard your credit cards.

Before you take up a car loan, do you make an effort to understand the interest calculations as well as the terms and conditions of your car loan? Do you have any idea what the Rule of 78 means? Read about a problem faced by a consumer who did not understand his car loan and the Rule of 78 and find out more about what you should look out for when taking up a car loan. 

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