Quick Tips

Protect Yourself Against Bogus Investment Opportunities

Cold calls, emails or bogus internet websites are common techniques used by unregulated persons to solicit business for bogus investments. Click here for tips provided by MoneySENSE on how you can protect yourself from falling prey to such schemes.

A company that wishes to offer shares, debentures, collective investment schemes (i.e. unit trusts) or business trusts to the public must first lodge the prospectus or offer information statement with the Monetary Authority of Singapore.  OPERA (Offers and Prospectuses Electronic Repository and Access) can be assessed at http://masnet.mas.gov.sg/opera/sdrprosp.nsf. MoneySENSE brings you through information in OPERA's "View all offers" page for Share offers.

A prospectus contains information that you would need to know in order to make an informed investment decision about the company and its shares. Read the prospectus carefully and ensure that the company you are considering is suitable for you and meets your investment needs before you invest in it. 

This issue explains how stocks are traded on the exchange and brings you through a snapshot of a trading screen which your dealer would see when putting through an order for you.

The second issue of MoneySENSE Matters brings you tips on how you can stretch your dollar and accumlate your savings in the long run. Click here for the English (PDF, 785KB), Chinese (PDF, 1.30MB), Malay (PDF, 758KB) and Tamil (JPG, 1.91MB) issues.

CDP or the Central Depository (Pte) Ltd provides depository, clearing and book-entry settlement services for securities traded on Singapore Exchange Ltd (SGX). You will need to open a CDP account before you can trade in securities listed on SGX. CDP will send you a monthly account statement if there is any movement in your securities account or if there is any dividend paid to you for the month. Otherwise, CDP will send you a half-yearly account statement.  MoneySENSE shows you what is contained in your CDP Account Statement.  

"Making Sense of Your Finances" - Structured Deposit Term Sheet

A structured deposit (SD) is essentially a combination of a deposit and an investment product, where the return is dependent on the performance of some underlying financial instrument.  MoneySENSE shows you what is contained in term sheets for two different types of SDs. 

Making Sense of Your Finances - Structured Deposit Term Sheet (Interest-Linked) (PDF, 18.0KB)

Making Sense of Your Finances - Structured Deposit Term Sheet (Equity-Linked) (PDF, 18.6KB)

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.

Unit trust prices and performance tables are published regularly in various media. MoneySENSE brings you through a sample of published information and explains some of the technical terms. 

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. 

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.

What do you need to know before purchasing a regular premium investment linked policy?  MoneySENSE shows an illustration explaining key terms in the Benefit Illustration for a Regular Premium Investment Linked Policy.

MoneySENSE Matters is a quarterly series of newsletters published in the local newspapers.  This first issue brings you tips that you can use to manage your money better.

If you own a participating life insurance policy, you would have received bonus statements from your insurer.  MoneySENSE shows an illustration explaining key terms in such bonus statements.

Do you have difficulty understanding the Benefit Illustration of the life insurance product that you are buying? MoneySENSE shows you what is contained in a Benefit Illustration for a 15-year regular premium participating endowment policy. Click here (PDF, 27.9KB) to find out more.

"Making Sense of Your Finances" - CPF Statement Part 2 of 2

In the second parter on CPF Statement, we show you what is contained in your property and investment statements. You can check your CPF Statement at www.cpf.gov.sg. Click here (PDF, 98.4KB) to find out more. 

"Making Sense of Your Finances" - CPF Statement Part 1 of 2

Not too sure of the terms used in your Benefit Illustration or your unit trust term sheet? Through the use of graphics, MoneySENSE will help you understand the different terms used in some of the financial statements/documents that consumers commonly encounter.  In the first part of this new series, we show you how to read your CPF statement. Click here (PDF, 90.0KB) to find out more.

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.

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.

Do you know what are the risks and return involved in your investments? Our final part of the 3-part series seeks to explain the concepts of risk and return and how you can use these tips to assist you in managing the risk and return of your investments. Click here to find out more.

Do you know the importance of time horizon in investment? In this second part of our 3-part series on investing, we explain the importance of time horizon in investment and some common mistakes that investors should avoid. For more information, please click here.

In this first part of our 3-part series on investing, we introduce you to the common mistakes made by retail investors, and provide you with tips on understanding your investment objectives. For more details, please click here.

Do you know what to look out for when buying a motor insurance policy and how to avoid problems when making a claim? Read about the problems commonly encountered by consumers and find out what you should look out for when buying motor insurance policies.

Do you know what switching is? Do you know what are your rights and responsibilities as a consumer? Read about how a consumer became a victim of undesirable switching and find out what you can do to protect your interest.

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.

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.

Central Provident Fund (CPF) Board has launched a CPF Retirement Planner Site which contains an on-line tool called the Interactive Journey that shows you how your choices in life could affect your retirement nest-egg, and a CPF Retirement Calculator for customized retirement planning. Log on to www.cpf.gov.sg to find out how Gomala, an executive in her early 20s, plans for her retirement and whether you are able to meet your retirement goals.

Before you buy an insurance policy, do you make an effort to study the benefit illustration and the accompanying product summary carefully to have a good understanding of the policy? Do you know what is a participating life insurance policy and what is reversionary bonus? Read about the problem faced by a consumer who did not understand her policy terms and find out more on what you should look out for when buying an insurance policy.

One of the biggest concerns we have in our golden years is outliving our savings. As such, it is important that we accumulate enough savings to see ourselves through a longer period of retirement. One investment option which is suitable for our retirement needs is annuities. Find out what annuities are and what you should consider when buying such products.

The Monetary Authority of Singapore (MAS) today announced the publication of an Investor Alert List (IAL). The IAL lists persons whom MAS receives information on as undertaking financial services activity in Singapore without being licensed or authorised by MAS. MAS has also issued a consumer alert that highlights common techniques used by unregulated persons to solicit business and the risks involved. It also informs consumers on the steps they can take to protect themselves.  

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 make enough effort to understand the terms and conditions of the insurance policy that you have bought? Do you know that many insurance policies contain a feature called Automatic Premium Loan? Read about the problem faced by a consumer who did not know about the feature and find out more on what you should look out for when buying an insurance policy.

Do you know what SGS are and how they can act as a risk diversifier for your investment portfolio? Read about SGS and understand their unique nature as a saving and investment instrument.
You may like to visit the SGS webpage set up by MAS to find out more about SGS.

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.

Have you received spoofed emails purported to be from your bank, credit card company or service provider? Read about phishing, a technique used by fraudsters to obtain sensitive personal information such as your account details, PIN, credit card number, user ID or password through the Internet, and how you can protect yourself from becoming a victim.

Have you met with instances of aggressive selling where you do not know how you should deal with the sales person? Read about the tell-tale signs of aggressive selling and how you can protect yourself from becoming a victim.

Not sure what you should look out for when buying health insurance? Read about the problems commonly faced by consumers in health insurance and how you can avoid getting into a similar situation. These case studies and tips were featured in the Sunday Times Invest pages on 3 and 18 April 2004 as part of the MoneySENSE initiative.

Have you made your new year resolutions?  Making financial resolutions is the first step to taking greater personal responsibility for your financial well-being. The earlier you start planning, the better off you will be as you will have more time to work towards your financial goals. Not sure where to start? Read our "Financial Resolutions For The New Year" for some tips.

The Financial Advisers Act (FAA) regulates companies and individuals that provide advice on investment products to consumers.  From October 2002, the FAA sets common standards for those who give investment advice by introducing some important initiatives to protect your interests as a consumer.  Find out more about the important tips to bear in mind when you are dealing with a financial adviser.

Not sure what to do when you have a problem with your financial institution?  These Quick Tips show you the steps to take in resolving your problem.

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. 

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