Ways to Manage Wide Income Swings

Posted by admin
on August 27, 2018

Ways to Manage Wide Income Swings

As per a review from the Pew Charitable Trusts, over 53% of families experienced wage swings. 2014 to 2015, 34% of families had salary fluctuation (up or down) of at least 25%. There’s a decent shot that you, as well, will encounter some level of budgetary irregularity in your life. In this manner, knowing approaches to oversee pay unpredictability ought to be a need for you and your family. In this article, we are going to look at several explanations in regard to managing a wide income swing.

Explanations behind Wide Income Swings

If you are going to get hitched, your family pay will change. Landing a position, evolving employments, accepting a raise, disappearing of nonattendance – all can influence pay and benefits a little more. If you are independently employed, you are subject to changes in the number of hours you work every week or reliant on commissions for quite a bit of your pay, pay irregularity is an eternal unavoidable truth.

Come up with a Budget

The initial phase of taking care of the issue is to list your month to month family unit costs in one of three sections on a sheet of paper. The primary segment is for repeating bills, for example, an auto installment, service bills et cetera. In the second section list the greater part of your optional spending, including foodstuffs, eating out, satellite TV, and so on. The third section ought to contain reserve funds, speculations and known future first-class costs, for example, therapeutic techniques, home or auto repair et cetera.

For anything that tends to vacillate, use past solicitations or receipts to locate a normal. Continuously fail in favor of the “direct you can ever think about” if you don’t know. Toward the finish of this progression, you should know the amount you require on multi month-to-month premise.

Make sure you have Steady Income

At the point when cash comes in, store it in a bank account – not your financial records. Every month, exchange precisely enough to cover your spending costs for the up and coming month. The thought is that your salary will vacillate, yet the sum you draw out every month will be the same. You will pay yourself a set month to month compensation, with any additional pay staying in reserve funds so that you can attract on it lean wage months.

Pay Bills and Get to Zero

The idea required here is known as a zero-entirety spending plan. You will begin every month with precisely what you require in your financial records, and you will spend or assign every last bit of it, in the long run winding up with almost no in your financial records.

Your financial plan ought to incorporate both speculation and obligation reimbursement. It ought to likewise include sparing (for those known first-class costs). As all cash needs to leave the financial records every month, first-class investment funds ought to either return into the bank account (and be represented) or into a different investment account.

Adjust – Rinse – Repeat

How you track your spending is dependent upon you. You can utilize a pencil and paper, do-it-without anyone’s help spreadsheet, cell phone applications or programming, for example, YNAB “you require a financial plan”. If you have optional supports left, put them in place – obligation reimbursement, expensive reserve funds, and investment or into more consistent investment funds. It may take a couple of months before you know what to pay yourself. Track and change as you go.

Prepare for an Emergency

Regardless of how well you design, there will dependably be unforeseen costs. You can plan to supplant auto tires when they destroy in a half year however not a transmission that separates while you’re in the midst of some recreation. Most specialists recommend having three to a half year “pay” put aside for crises or sudden transitory joblessness. On the other hand, a home value credit extension or something comparable can furnish you with access to crisis money if necessary.

Plan to meet your objectives

Next, consider how you will achieve your objectives. You’ll have here and now intentions, for example, acquiring another auto or home, and additionally long haul objectives, for instance, putting something aside for retirement. It can be useful to set up a different investment account for every purpose. Like this, you can go without much of a stretch to keep tabs on your development.

Specialists propose working in reverse to decide the amount you have to put something aside for a particular objective. Decide the aggregate cost of the goal (auto, excursion, upfront installment on a home) and afterward set up the sum you’ll have to spare every month in light of the course of events. Ensure the amount you anticipate putting aside every month is feasible, or you may need to modify your timetable to be more sensible.

Boost retirement commitments.

Retirement design commitments can be a significant wellspring of reserve funds, mainly if you have the choice of business coordinated assets. If you do, make sure to exploit them! Check with your HR contact or your bookkeeper to ensure you are contributing the ideal add up to your 401K and IRA. Better be safe, as your income swing, you might just have some relieve in your saving as an alternate source of income.  Understanding the money concept is of great benefit to you and your family.

Conclusion

Overseeing wide salary swings isn’t advanced science. It’s, for the most part, a matter of smoothing out the budgetary “slopes” and “valleys” by filling in the last with additional wage from the previous. It will require investment – likely at least a few months – to settle on your “pay.” Even then you will end up tweaking sums in particular classes all the time. The critical step will adhere to spending when you know you have extra supports in investment funds. Maintain a strategic distance from enticement and be motivated by the way that you have transformed the issue of conflicting wage into standard, solid pay. What’s more, you will have done everything all alone.


Best Licensed Moneylender

Quick Credit Pte Ltd is the best money lender in Singapore. Anything cash related, we can sort it out for you. Our great experience loan advisors will be able to build out with a good loan package to help you clear off all your outstanding. In doing so,  will help you keep better track of all your expenses and money.

We have the skills, knowledge and people to assist you through the entire loan process while providing you with excellent advice.

In addition, we have one of the highest positive moneylender reviews among lenders in Singapore. Furthermore, Quick Credit is also one of the few moneylender open on Sunday!

Interested in knowing more about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. Our manager will get back to you as soon as possible. Or you can drop us a message here and our manager will get back to you soon.

Alternatively you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601. The nearest MRT station to us will be Jurong East Station.

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Retirement savings strategies to help you budget for health care

Posted by admin
on August 20, 2018

Retirement savings strategies to help you budget for health care

When planning you need to have some investment or cash to help you pull through any difficult situation in life. Bear in mind here are some of the points you need to master as you plan for a better retirement.

Key Points

  • Medical costs are as yet overwhelming as well as fewer businesses are putting forth social insurance scope for retirees, so it’s critical to anticipate therapeutic services costs in retirement.
  • Estimating your future needs can enable you to decide the amount you should spare.
  • Take long-term as well as broadened care and physician recommended drugs into account.

The choices you make about social insurance can dramatically affect your budgetary future. Albeit many people are stress over high social insurance costs in retirement, few have made a move to address those expenses, as indicated by the aftereffects of many Health, Wealth as well as retirement.

That is in spite of the way that a wedded couple with middle medication costs will require $265,000 to have a 90 percent possibility of paying for their retirement human services costs, as per a recent report from the Employee Benefit Research Institute. That number expanded from the earlier year, and keeps on being an overwhelming total.

What would you be able to do to ensure you have enough put something aside for human services in retirement? These four retirement sparing procedures can help.

Gauge your expenses shrewdly

The initial step is taking a gander at what scope you may have, including manager retiree benefits, Medicare, supplemental care, vision and dental scope. At that point, you’ll have to take a gander at out-of-take costs including premiums, deductibles, and co-installments or co-protection related with each.

Remember that regardless of whether Medicare covers an administration or thing, you may need to pay premiums, co-pays, and deductibles. Likewise, Medicare does not generally cover long-term or even broadened mind issues, dental, eye examinations identified by endorsing glasses, dentures, restorative medical procedure, needle therapy, portable amplifiers as well as exams for fitting them, or even routine foot mind.

It’s likewise a smart thought to factor in the cost of no less than one certain disease or damage and adds that to your reserve funds objectives. The odds of experiencing a hip substitution, for instance, increment significantly for individuals 85 and more established. The methodology can undoubtedly cost $20,000. Your manager or safety net provider may have instruments accessible to enable you to appraise these and different expenses.

Make sure to incorporate what you think you’ll need to pay for the most astounding quality care and the innovative and medicinal advances that can improve your life. You’ll likewise need to concoct an extended haul mind system and decide if long haul or expanded care protection is appropriate for you. Your counselor can enable you to stroll through this procedure.

Remember physician recommended tranquillize costs

Meds can frequently get one of the greatest out-of-stash social insurance costs for retirees.

Medicare Part D offers physician recommended tranquillize scope from Medicare gave through private back up plans. Every safety net provider provides scope for its particular rundown of prescriptions, called a model. The solutions you need may not be on each guarantor’s model, and most strategies offer layered scope; the least co-pays for nonexclusive medications and the most astounding for new, mark name pharmaceuticals. There is some uplifting news about Part D scope. By 2020, the alleged doughnut opening, the scope hole that kicks in after you and your safety net provider pay a specific sum for the drug, will be shut. Therefore, Medicare beneficiaries’ out-of-take costs, by and large, will be diminished altogether, as indicated by EBRI.

Lift funds and consider a Health Savings Account (HSA)

How about we start by replying: how does an HSA work? In 2017, you select a qualified medical coverage design with a deductible of at any rate $1,300 for the single scope and $2,600 for the family scope. With this high-deductible arrangement, you’ll pay for specialist visits, tests and different medications out-of-take until the point that your deductible is met. In return, you can contribute pre-impose dollars into an HSA to pay for qualified therapeutic costs.

The critical augmentation to an HSA in 2017 is $3,400 for people and $6,750 for families. Individuals age 55 and more established may store an extra $1,000 over these points of confinement. Earnings on the record develop tax-exempt, and no charges are paid on withdrawals utilized for qualified therapeutic costs. Any cash you don’t use for human services moves over from year to year, and your record additionally runs with you from employment to work. That is the reason for adding to an HSA can be somewhat of a mystery retirement account. The majority of the assets you don’t use for human services when you’re more youthful amass and develop tax-exempt, ideally giving you a little pad when you’re more established and need the assets more.

Likewise, save the most extreme to your 401(k) or other company supporting retirement funds approach using another excellent method to help your reserve funds for human services in retirement. Consider supplementing those records with commitments to a customary or an after-impose saving account.

Influence a long haul to mind design

Long-term or expanded care costs, including home therapeutic services costs, helped living and nursing home, are not secured by Medicare and are excluded in the EBRI gauges for human services costs. Much of the time, the long-haul mind is the biggest lump of retiree therapeutic services costs. The average social value of a private room in a nursing home is $92,378 every year, as per the 2016 Genworth Cost of Care Survey.

You’ll require an arrangement for dealing with long-term mind costs that may incorporate long-term or broadened intellect protection. Your counsel can enable you to devise a method to plan for the unforeseen.

Conclusion

When planning for retirement, you need to be steady fast. More important, planning for your medical insurance is one of the major approaches to setting your financial record straight. At old age, your health comes first and any misstep might lead to spending lots of cash on medical bills.


Good Licensed Moneylender – Quick Credit Pte Ltd

Quick Credit is the best money lender you will be able to get in West zone of Singapore. Any financial problem, we will be able to sort it for you. Our good train advisor is able to customize best loan pack to help you settle your outstanding debts.

Besides that, we have one of the highest positive moneylender reviews among moneylenders in Singapore. Furthermore, Quick Credit is one of the few licensed money lender open on Sunday!

Wish to get more information about how you can get a loan? You can drop us an email at enquiry@quickcredit.com.sg. Our staff will get in touch with you as soon as possible. In addition, you also can drop us a message here .

Alternatively, you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601.

 

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8 Steps to Financial Security

Posted by admin
on August 14, 2018

8 Steps to Financial Security

Whenever we started the New Calendar year, a lot of us made plans as well as vowed to have our economic houses orderly. Sadly most of us broke that decision long before the initial bank card charge come. As opposed to feeling responsible think about these actions to ensure you get initiated on the correct path – whatever season.

Develop the Emergency Finance

Not only the pot of silver which you were thinking about for a new vehicle or even holiday, finance for right crisis situations. The emergency finance must incorporate no less than three to half a year the value of bills. This money needs just to be tapped for medical contingencies, occasions of poorly planned joblessness as well as other times of the magnitude.

When you build your crisis finance, keep sufficient cash in the account or even funds marketplace accounts to handle several months bills as well as than request your Economic Consultant or even your financier to enable you to establish a string of temporary CDs to form a ladder with the other parts. Laddering revenue will assist you to earn a lot more curiosity on the cash that you might have to get your arms on in a rush. Simultaneously, it will help to make sure that you do not get hold of all of it right away for non-emergency reasons.

Make use of credit prudently

Steer clear of buying things on credit if possible. If you choose to have debt, search for the most competitive rates which you can locate. You need to shop out your financial loans as well as credit cards for far better offers. Inquire your lenders for far better charges. Should you get all the cash promptly because they are in sound standing with them, probably they may reduce your expenses. Or else, think about moving somewhere else. Make sure to review the credit report a minimum of the year as well as watch out for identification robbery too.

Budget funds prudently as well as do not overspend

Take some time to start and create your budget or even an expensive plan. Live within the means as well as do not seek to catch up on the Joneses. We have been all accountable of it on occasion, however until we triumph the lottery we may choose to allow the Jones to be ahead a tad to ensure that we have been not striving in retirement. You might be amazed to realize that you will find lots of physicians as well as professionals available that may be generating more than $ 500, 000 each year that are in debt as much as their eyeballs as well as providing the term “living pay envelope to paycheck” a new meaning.

Take care not to overspend about your purchases either

A few companies are providing cost-free exchanging should you “simply spend the bid inquire spread” or even have a significant amount of cash in a bank account. Additional companies are giving cheap inventory deals whereas recharging insanely high margin charges or even other costs. Scrutinize these types of offers thereby making sure that the cost-free dinner is in a few occasions it will save you some money on a commission as well as spend hundreds on a broad spread or even different charges. Most of all, do not seek to save a commission by investing on the internet or also purchasing no-load money once you do not learn what you do because they are prone to risk your finances.

Be readied

Ensure that you are well-safeguarded. Not only for your auto or home (if leasing, make sure to get rental protection) yet additionally for your life, wellbeing, incapacity and if fitting, long-haul mind. Check your scope on protection policies, refresh recipients on your extra security and ensure that you have a restored will.

Learn as much as you can about contributing

As per a Lusaardi and Mitchell examine referred to in Money Magazine, people who comprehended straightforward estimations, for example, accruing funds or rates had higher total assets than the individuals who did not. The web offers a lot of assistance with data about saving. Be that as it may, don’t be excessively pleasing, making it impossible to get help if regardless you require it or to get a second assessment to perceive how you are getting along.

Set realistic objectives

Try not to begin with la-la-land thoughts. Set short, medium and long haul objectives that you can stick to. A transient goal may incorporate working up against that just-in-case account that you swore you would begin or maybe putting something aside for a house. A medium-term objective may include paying for your kids’ training, and a long haul objective may incorporate making arrangements for retirement. Put aside time to get ready for each of these and make sure to screen your advance en route.

Understand the Advantages

Find out what you will be eligible for or if perhaps you may be eligible for all rewards. Does the company provide you with a pension program? Have you been entitled to interpersonal safety? Have you been entitled to a spouse’s rewards if the loss of life or even separation? Make sure to review the advantages from time to time since they might have developed. A few companies possess considerably decreased or perhaps lowered their pension strategies entirely.

Spend with Self-discipline

In a current “Retirement Truth Check” study, carried out by the Allstate Insurance Provider. 40 % of respondents confessed that they would be not saving really for retirement life. In general, 38% of respondents declared that they anticipated their pension to be “financially hard”. Begin saving earlier as well as frequently to prevent this scenario.

Approximate the pension requirements. Finance the 401(k) pension plan to the optimum or even begin an IRA (or also option pension program) should you be qualified. Make investments instantly through your company, via payroll deduction or even via your banks with cash drawn each month immediately before deciding to have an opportunity to invest it. Spend on your own first. Deal with the cost savings such as a charge as well as spend on your own each month. Make cautious choices between shares, stocks, mutual revenue as well as other assets. Choose high-quality investments, stick to all of them as well as rebalance whenever your allocations are no longer along with the program.


Quick Credit Pte Ltd

Quick Credit licensed moneylender is the best money lender you will be able to get in Jurong. Any money related, we will be able sort it for  you. Our well train loan consultants will be able to design a good loan package to help you clear off all your outstanding debts. In doing so, you will help you keep better track of all your expenses and money.

Besides that, we have one of the highest positive moneylender reviews among money lenders in Singapore. Furthermore, Quick Credit is one of the few money lender open on Sunday!

Interested to get more information about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. Our staff will get in touch with you as soon as possible. Besides that, you also can drop us a message here .

Alternatively you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601.

 

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A quick Singaporean’s guide to cryptocurrency and the factors affecting its price (2018 update)

Posted by admin
on August 6, 2018

A quick Singaporean’s guide to cryptocurrency and the factors affecting its price

Asian countries have an instrumental effect on affecting the cryptocurrency market and the trade surrounding it. Japan, China, and South Korea have already made a significant impact on the cryptocurrency market. Now, Singapore has got into the race as well, with ambitious plans of becoming a smart financial center.

The growing acceptance of cryptocurrency in Singapore has made it an up and coming destination for companies that want to raise funds using blockchain technology. The cryptocurrency market in Singapore has observed a hike in the initial coin offerings, that shows the market in Singapore is on the rise. This increase in interest among Singaporeans calls out for a quick Singaporean’s guide to cryptocurrencies.

In this article, we’ll take you through the basics of cryptocurrencies and the factors that are affecting its prices.

What is cryptocurrency?

Cryptocurrency is a digital currency that is designed to be used as a medium for exchange using blockchain. It uses strong cryptography to facilitate secure financial transactions and verify peer to peer transactions.

Cryptocurrencies are decentralized in nature and work through a digital ledger technology that serves as a public financial database. As cryptocurrencies are decentralized, there exists no control of centralized authority over the digital transaction. But, the transactions are governed and verified by the process of crypto mining. Crypto mining is the process in which transactions, made in the form of digital currency, are validate and add to the blockchain digital ledger. Cryptocurrency miners perform the verification with the help of mining software. When a digital transaction is made, cryptocurrency miners are responsible for authenticating the transaction and adding this information in a digital ledger.

While most of the world is embracing the concept of digital currency with open arms, it still seems that many are facing difficulty in understanding the difference between cryptocurrency and fiat currency. Also, there is a lot of hesitation in accepting cryptocurrencies as official currency. For instance, the monetary authority of Singapore has recently stated that whether or not businesses accept cryptocurrencies for the exchange of their goods is their commercial decision. The MAS will not intervene in trades involving cryptocurrencies.

This increase in interest for cryptocurrency calls for shedding some light on the difference between a fiat currency (Singaporean dollar) and cryptocurrency.

  • A fiat currency is a legal tender issued by the government whereas cryptocurrency is neither a legal tender nor back by the government.
  • A fiat currency transaction is monitoring by the monetary authority of Singapore whereas a cryptocurrency transaction is overseen by the peer to peer network.
  • Unlike fiat currencies, there is a limited supply of cryptocurrency. As the demand grows for a particular type of coin, the supply is increase.

Despite the hesitation to switch from a fiat currency to a cryptocurrency, there are instances where people are embracing it. What makes cryptocurrency so desirable? What advantages does it have over fiat currency? Here are few advantages of cryptocurrency over fiat currency that is leading to a growing interest in the former:

  • Cryptocurrencies are digital currencies that cannot be counterfeit.
  • Cryptocurrencies allow accountability in transactions. This prevents theft and enables the cryptocurrency holder to keep his details safe.
  • Cryptocurrency comes with the feature of smart contracts that eliminates the involvement of centralised third parties in transactions.
  • Fiat currencies differ from country to country, and they belong to a particular nation, whereas cryptocurrencies are uniform all over the world and do not belong to one specific country. This helps in facilitating cross-border transactions.

What are the factors affecting cryptocurrency prices?

The imbalance between the demand and supply affects cryptocurrency prices. As the supply of any currency is determining by the need for it and the supply of it, same is the case with cryptocurrencies. When the market for a specific type of cryptocurrency goes up, there is an increase in its price. Other factors that affect the cryptocurrency prices are:

  • Perceived value

The perceived value of a cryptocurrency refers to its deemed value. When there is a collaboration or partnership with credible companies, there is an increase in their value of cryptocurrency.

  • Security

News coverage about the theft and exchange hacks of cryptocurrency is leading to a volatility of prices. Circulation of such news can create a negative impression on the investors about cryptocurrencies that, in turn, causes a drop in its prices.

  • Stability

The fluctuations in cryptocurrency prices is a concern to many. Due to these fluctuations, a majority of the market may stop accepting a specific type of coin. When such a case arises, the particular currency will lose its value.

  • Difficulty level

The prices of cryptocurrency get affecting by the difficulty level of solving mathematical algorithms. The value of the cryptocurrency increases as it becomes difficult for the miners to solve. The more difficult it becomes to solve the mathematical algorithm, the higher is the value of cryptocurrency.

  • Trustworthiness

The concept of digital currency is still new to a significant population of the world; as a result, people are not sure about investing in it. While the market for cryptocurrencies grows, the trust of the people in it will also increase. As a result, more people will invest in cryptocurrencies which will, in turn, improve the value of every cryptocurrency.

Though cryptocurrencies promise to remain viable financial investment, buyers and investors are subject to some kind of risks. It is better to learn both pros and cons of investing in cryptocurrency to be on a safer side. Having good information about cryptocurrency beforehand can help you make an informed decision about your investment.


Quick Credit Pte Ltd

Quick Credit Pte Ltd is the best money lender in Singapore. Anything cash related, we will be able to help you. Our experience loan consultants will be able to come up with a best loan package to help you settle all your outstanding debts or bills. In doing so, you will help you keep better track of all your expenses and money. We open door to giving out loan since 2002.

We have the knowledge and resources to assist you through the whole loan process while providing you with excellent advice.

Moreover, we have one of the top licensed moneylender reviews among money lenders in Singapore. Furthermore, Quick Credit is also one of the few moneylender open on Sunday!

Interested in knowing more about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. We will get back to you as soon as possible. Or you can drop us a message here.

Alternatively, you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601.

 

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Should you consider child insurance? (2018 Update)

Posted by admin
on August 1, 2018

Should you consider child insurance?

When you bring a child into this world, it is the most joyous moment for most people. From the time the child is born, it is every parent’s instinct to protect their child from all the troubles of the external world. This need to protect them is what makes a lot of parents worry for their child’s short-term and long-term well-being.

They realise that a child is their responsibility for the next 20 years or so or till the time they are financially dependent. And irrespective of however adorable your child looks. At the end of the day, it is an expensive affair to raise a child in a country like Singapore. You might call your little one a bundle of joy but without proper financial planning it won’t be long before your child’s expenses will weigh you down financially. It is, therefore, important to consider child insurance in Singapore.

A child insurance is a financial commitment you make at a very early age for your child to ensure she has a secure future. In Singapore, the population of children has been reducing with more and more people marrying late. This has led to the launch of various bonus plans that encourage Singaporean couples to start a family early on. Many of these plans are a combination of child insurance and savings plans. Now, if you are wondering why you should be taking a child insurance policy seriously, here are a few things you ought to know.

Childcare expenses

Raising a child is an expensive affair right from the time you conceive. Periodic visits to the gynecologist and nutritionist all through the tenure of pregnancy is an expense. Further, if you have a normal delivery in a public hospital it might cost you $3,700 whereas a cesarean delivery in a private hospital will cost you around $17,000. To add to that, you will also purchase consumables for the newborn baby, this includes diapers, formula milk, baby clothes and other miscellaneous items that also need to be purchased.

Plus, you will have to take your child to the pediatrician for vaccinations and common illnesses for the first few years after the child is born. Covering all these expenses can leave you financially depleted for the financial expenses of the future. Hence, it is important that you start saving early on to be able to deal with the responsibility of rearing a child. And one way of doing this is by opting for child insurance.

Educational expenses

If you wish to give your child a good education, you should be aware of the allied costs involved. Your child’s education will span over a period of 18 years or so. During this period, you will have to take care of the primary school, secondary school, junior college, polytechnic, and the university related costs. The average annual tuition fees for a primary school student is $156 multiplied by 6 (as primary school lasts for 6 years) that is $936. Similarly, total secondary school fees comes upto $1500, junior college fees is about $792, polytechnic fees comes to $8,538 and university costs are estimated to be about $30,000-$40,000.

And with time these costs are only bound to increase. The question is – are you prepared to take on these expenses comfortably? This is where a child insurance policy can help you plan for your child’s future educational expenses.

Healthcare costs

We always hope for the best for your child. But God forbid, your child falls prey to some serious illness. Coping with all the healthcare costs at that point in time can make you feel financially burdened. Hence, it is wise to opt for a health insurance for your child and make sure it has a hospitalization plan. While Medishield Life provides basic coverage at B1 and C Class wards at public hospital. You will need a private integrated shield plan to extend the coverage to higher-class wards or private hospitals. You can also use your own medisave funds to pay for your child’s integrated shield plans. Having a good health care policy in place will ensure that your child is covered for any future illnesses or conditions.

Collateral loans

Another benefit of having a child insurance policy is that it is widely accepted across all banks and you can use it as a collateral for any loan requirements in the future. This could be an educational loan for your child’s higher studies or simply a personal loan for any other major life expenses.

The uncertainty of life

Irrespective of how much you love your children, the truth is that someday we all will cease to exist. We never know when and how we breathe our last. It is, therefore, necessary to plan for unforeseen events in life and an effective way of doing this is by taking whole life insurance for your child. You can either opt for a whole life insurance or term insurance depending on your financial goals and needs. However, it is always advisable that you opt for whole life insurance instead of a term plan as the latter provides coverage for a limited period.

As responsible parents, you don’t just want to ensure the physical safety of your child but also their financial well-being in the long run. Hence, you should consider taking child insurance for your little one.


Quick Credit Pte Ltd

Quick Credit Pte Ltd is the best legal money lender you will be able to find in Singapore. Anything money related, we will be able to help you. Our well train loan consultant will be able to come up with a good loan package to help you clear off all your pending bills. In doing so, you will help you keep better track of all your expenses and money. We are established from year 2002.

We have skills, knowledge and people to assist you through the entire loan process while providing you with excellent advice.

In addition, we have one of the highest positive moneylender reviews among money lenders in Singapore. Furthermore, Quick Credit is also one of the few moneylender open on Sunday!

Interested in knowing more about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. Our manager will get back to you as soon as possible. Or you can drop us a message here and our manager will get back to you soon.

Alternatively you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601. The nearest MRT station to us will be Jurong East Station.

 

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