5 Travel Spots Perfect for the Year-End Holidays

5 Affordable Destinations Perfect for the Year-End Holidays

With only a month left in 2016, where do you plan to go without burning a hole in your pocket? Discover the most affordable destinations perfect for the year-end holidays in Asia.

The Best Destinations Perfect for the Year-End Holidays


Located between Vietnam and Thailand, Cambodia has gained popularity among tourists mostly because of Angkor Wat. Going to the temples of Angkor Wat, take a bike and enjoy the scenic view of landscapes and take in the fresh air from nature. Then, go to the beach and bury your toes in the sands as you watch the waves kiss the shore. If salt water is not your thing, you can just visit Tonle Sap, a vast lake that can change its flow direction twice a year.

Of course, the tour won’t be complete if you pass up Amok Trey, the famous fish dish with curry and coconut milk. Try the green papaya salad known as Bok L’hong. Love chicken dishes? Order Caw, Cambodia’s version of chicken stew with caramelised palm sugar.


With a fast-growing technology industry, Malaysia is still known to have diverse traditions and cultures. Visit the tea plantations in Cameron Highlands and bring home handpicked leaves. If you are after a nature trip, go to Taman Negara and experience what its rainforest offers.

Try the signature breakfast, Nasi lemak, which is mixed with milk and coconut cream if you like rice. Then, have some renditions, or meat stewed in various spices. Like peanuts? Satay has skewered meat seasoned with herbs and served with peanut dip.


Vietnam is known for its floating market called Mekong Delta. Experience the country’s rural life and bargain for fun. Order the famous Pho, a traditional broth with noodles, meat, and spices, if you get hungry haggling. Suppose you want some snacks, order Banh xeo, a local dish made of crispy rice crepe.

Mekong Delta Vietnam | 5 Affordable Destinations Perfect for the Year-End Holidays

Credit: https://www.mekong-delta-tours.com/travel-guide/where-is-mekong-delta-vietnam.html


When in Thailand, you can’t miss The Grand Palace’s impressive architecture and landscape. Let your eyes feast on a variety of birds and tigers, and elephants in Khao Yai National Park. If you are into white beaches with clear blue waters, you must visit Ko Tarutao.


If you are in Indonesia, you must visit the beautiful Buddhist Temple Borobudur during sunrise to experience the awe and serenity the environment brings. Beach bums will surely enjoy Bali. Take in the scene, breathe in the salty breeze before snorkelling to see the living coral reefs. Also, enjoy Nasi Goreng, Indonesia’s signature spicy fried rice dish served with cucumber and tomatoes topped with eggs, shrimp and chicken. Finally, have a serving of Bakmi. An egg noodle served with meat and vegetables.

The Best Credit Cards to Bring Perfect for the Year-End Holidays 

Citi PremierMiles Visa Card

You can earn 10 Citi Miles for every dollar you spend when you book your travels online. If you apply for the card now, you can get up to 42,000 Miles:

  • 15,000 Miles is you spend any amount
  • 15,000 Miles if you spend at least $10,000 in three months
  • 12,000 Miles is the accumulated Miles based on the $10,000 spent
  • Spend the long weekend overseas and get 50% more miles

Standard Chartered Visa Infinite Card

  • Get 3 Miles in every $ you spend overseas with a minimum spend of $2,000
  • If you can’t reach the minimum amount, you can still get 2.5 points or 1 mile for each $.
  • Get a priority pass to airport lounges
  • Up to $1,000,000 of coverage for accidental death
  • Baggage loss is also covered by up to $5,000

OCBC Voyage Card

  • Get 2.3 VOYAGE MILES every time you spend $1 converted from foreign currency.
  • Earn 2.3 VOYAGE MILES for each $1 you spend dining locally
  • Have 1 VOYAGE MILES with every $1 spent locally
  • Have a complimentary limousine transfer service
  • Get a complimentary travel insurance worth up to $1 million

OCBC Voyage Card | 5 Affordable Destinations Perfect for the Year-End Holidays

Credit: https://www.ocbc.com/personal-banking/cards/voyage-credit-card.page

ANZ Travel Visa Signature Card

  • Have 1.4 air miles for every $1 spend
  • Get priority access to worldwide airport lounges with a minimum spend of $10,000 every quarter.
  • Airport Limousine Service
  • Complimentary travel insurance


  • Get 6 miles for every $1 you spend on major hotels and airports
  • You get 2.4 miles for each $1 you spend overseas
  • Travel Insurance worth up to $1,000,000
  • If you sign up now, you will get 10,000 welcome miles.

Travelling is now one of the rewards Singaporeans give themselves every now and then. Since you want to enjoy your money’s worth, you have to plan where you will go and what you want to experience. Bring along your loved ones and share the priceless memories. Also, choose which credit card to take with you to have more convenience and further rewards.

Another way to celebrate perfect for the year-end holidays is to secure funds in your pocket. Visit a legit moneylending company like Cash Mart. It approves a short-term personal loan for any of your needs. Check it out now!

Why Singaporeans Overspend on Holidays Overseas?

Reasons Budget Travelling Singaporeans Overspend on Holidays Overseas

It is common for Singaporeans overspend on holidays, especially overseas. Find out the top reasons why it happens.

Over the years, while Singapore has been a hot spot for tourism for foreigners, the number of Singaporeans spending holidays overseas is constantly growing. Furthermore, it is even bound to rank as the fourth outbound city market until 2020.

It seems everyone will grab every opportunity to spend the long weekend in another country. Their reason is to escape the gruelling work life.  So, where have your neighbours and relatives been going? According to GfK’s Travelscan data, most Singaporeans headed to China, Thailand and Hong Kong. However, China gets 20% of the outbound Singaporean flight with the intent of leisure. As for Thailand, it gets 16% of the outbound flights. Bangkok, Phuket, and Chiang Mai are its most visited cities.

However, China is still at the highest rank. Although its flight bookings have decreased by 6%, many are now eyeing Japan. All because of the increasing strength of the Singaporean Dollar. It means you can buy more stuff in Japan now. Plus, you can enjoy more cherry blossoms.

budget travelling singaporeans overspends holidays overseas

Credit: https://www.travelandleisure.com/travel-tips/what-to-do-before-flight

Singaporeans Overspend on Holidays: Budget Travelling Mistakes

Avoiding other travellers

Do not avoid other backpackers. You are missing out on the fun of backpacking. In addition, a great chance to save up on your ride to your next destination. You will be ecstatic to know their willingness to offer you a shared ride. Some go to your next destination if you are luckily going in the same direction. Also, they may give you tips on where you can get the cheapest yet a good place to sleep and eat. It comes in handy instead of spending too much time walking around and figuring out transportation and accommodation on your own. Furthermore, fellow backpackers can teach you the route of intercity buses or perhaps how to haggle fare with tuk-tuks and songthaews.

Take hostel security lightly.

You can never be too sure about your safety when you sleep if you are stingy enough to sleep in shared accommodation. So always keep your valuables near you. You can even purchase a bicycle chain to lock your bag in the bedpost. It may sound silly. But, it might just save you from a lot of worries and unnecessary expenses if you lose your stuff.

Paying for not pre-booked luggage

Pre-booked luggage of 15kg can cost $20. Failure to pre-book may cause you $50 and more. So if you went to Thailand with just a backpack and now you have a couple of large colourful bags beside your bedpost, remember to book your luggage. If you have already booked your flight, do not hesitate to call your airline. Adjust your luggage booking as you need.

Singaporeans overspend on holidays due to unorganised backpack

There are times when you have stuff in your home yet do not mind packing it up. So when you need it on your trip, you end up buying the same item at a ridiculous price.

Here are the things you have to keep in your bag.

Water bottle

We have 7-11 in almost every street to grab a bottle of ice-cold water to quench your dried throat. However, it might not be the same in other countries. Are you not sure about the availability of convenience stores in your travel destination? It is better to have a water bottle you can refill in the water dispensers available in your accommodation. It is more practical than buying expensive bottled water while going on your adventure.


We all know snacks are like gold in hot tourist spots. It is very expensive. Plus, it might not be too mouthwatering for your palate. However, you have no choice but to chomp it down because you are too hungry walking under the scorching heat.

Always carry a small bag of biscuits or crackers around. It replenishes your energy until you reach a restaurant more soothing to your taste and budget.

Insect repellant

Going to tropical countries where it is too humid? Expect swarms of mosquitoes to ruin your night escapades and sleep. Also, these mosquitoes are potential carriers of dengue and malaria virus. To protect yourself, you must carry your insect repellant. Unfortunately, some local repellants and bug sprays don’t work well. It is better to have your trusted insect repellant than regret sleepless nights during your holiday.


We all know the growing attachment Singaporeans have with Wi-Fi, yet this is not only for games such as Pokemon Go. Smartphones are now necessary to navigate places at ease. Also, it contacts your family to assure them of your safety. In addition, you can download offline maps if you are not sure of your constant connection with the web.

Power bank and charger

Of course, your smartphone will be useless without power. So always be sure to have your power bank and charger with you every time you go out. Also, have an outlet adapter if possible. Different countries have various kinds of electrical outlets. The last thing you want is an incompatible charger with the accommodation’s outlet. Or else your smartphone battery is already drained for hours.

Quick-dry towel

Since you are a budget traveller, you tend to sleep in hostels, cheap hotels and guesthouses. These charge fees for dry towels. To save up, bring a quick-dry towel that will be handy. It is usually lightweight and can be folded into a smaller size. Therefore, it saves up on space. In addition, it takes only a couple of hours to dry, unlike the regular towels.

Travel insurance

If you consider skipping travel insurance on your must-have list, you endanger your safety and finances. While there is a chance that you will not even use the insurance, there are moments when you will be thankful you have purchased one. Most travel insurance covers medical bills abroad. Others even cover lost luggage, delayed flights and missed the connection.

Using credit cards

Overall Singaporeans overspend on holidays might increase by 2.5% to 3%. It happens, especially if you keep swiping your credit card overseas. So make sure to get your SD converted into the correct currency of your travel destination. Examples are Baht, Yen, Pesos, and others.

Buying travel insurance offered by airlines

There is a lot of travel insurance shoved on your face if you look online. However, you have to make sure that you get the best one. So take time to shop around and remember that there could be better travel insurance than your airline offered.

Pre-existing medical conditions

Check if the travel insurance covers pre-existing medical conditions. For example, what if you collapse while chomping down on steak in the middle of the Bahamas sunset due to a pre-existing heart problem? Most airline travel insurance will not cover you.

Trip disruption

Most travel insurance will entice you with promising money claims if you experience disrupted flights due to unforeseen circumstances. However, be sure to read the fine prints. You will see that some insurers have a wider range of coverage than others. For example, you usually get a payout with cancelled, postponed, or delayed flights. Still, only a handful of insurance will pay for your extra plane ticket or accommodation. They consider it if your flight gets cancelled while you are overseas. Also, it covers illness, natural disasters and strikes or riots.

Missed connections

Long flight travels need connecting flights, and stories of missed connecting flights are not new to us. It is like a nightmare nobody wants to experience in real life. If you are on a budget flight, it is your responsibility to book your two separate flights at the most convenient time. Only a few travel insurance will pay for your missed connecting flight.

Overbooked flights and public transport

Overbooking results from oversold flights because airlines expect some no-show passengers. However, there are times when passengers get bumped. It means there are limited seats for too many passengers. If you get bumped, you might have to stay at the airport or find accommodation. Some airline travel insurance will only give you a $100 voucher as compensation. Choose travel insurance which will cover not only your overbooked flight ticket. But, also your accommodation and other overbooked transport such as trains and buses.

Kidnap and hostage

Singaporeans know that there is a slim chance of getting kidnapped and hostage. But won’t it be a bit relieving to know your travel insurance compensates you?

Personal liability

Some of us do stupid things when we get away from our own country and experience different environments. Others get too drunk and get into a bar fight. Some run over pets or even locals due to irresponsible driving. Unfortunately, only a handful of travel insurance will cover personal liabilities and will cover your legal fees.

In need of extra cash for your overseas holiday with your loved ones? Do not let this be the reason to miss out on the once in a lifetime chance. You can get a personal loan from Cash Mart in just 30 minutes. Drop by Cash Mart office today to start your smooth loan transaction. It saves Singaporeans overspend on holidays outside the country. 

Escape Spiraling Debts and Prevent Being Broke: 4 Effective Ways

4 Effective Ways to Escape Spiraling Debts to Prevent Being Broke

Too many financial obligations can lead you to be broke. Prevent this from happening by applying these ways to escape spiraling debts.

It is widely accepted that loans are part of an average Singaporean’s life. However, while getting a housing loan to get a home is needed, getting into too much debt might put you into bankruptcy. Therefore, this will forever change your life.

Recent Facts:

  • The Monetary Authority of Singapore (MAS) has urged Singaporeans to be more prudent to service debt obligations. The government acknowledges the high number of households with loans. In 2015, the REPAYMENT ASSISTANCE SCHEME (RAS) was introduced to help earners of less than $120,000 per annum pay outstanding debts.

Monetary Authority of Singapore | Ways to Escape Spiraling Debts

  • In September 2015, 94,950 debtors missed payments on unsecured credit for two or more months. It is a noticeable increase from 80,390 in 2014. Therefore, it is no secret that more and more Singaporeans use loans. They apply to either get by through financial gaps or purchase things they have wanted or n. However, there is an increase in debtors missing their repayments. Remember that late repayments will pull down your credit score. Therefore, future lenders will evaluate your creditworthiness. Mainly, they consider your credit score.
  • Households Debt to GDP (Gross Domestic Product) in Singapore averaged 40.70 percent of GDP from 1991 until 2015. However, it reached an all-time high of 60.80 percent of GDP in the third quarter of 2015. The increasing household debt to GDP might not show its effect as of now. However, it might hinder the economic growth potential of Singapore in the long run. That is why the Monetary Authority of Singapore (MAS) continues to have strict lending restrictions.

5 Signs you Have to Escape Spiraling Debts

Your loan application keeps getting rejected.

Both banks and money lenders have been rejecting your loan application. The lenders are usually evaluating the risk of each potential client. If they think you are a risky customer, they will deny your loan application.  Another reason they might be rejecting you is that maybe they were your past lenders. Unfortunately, you did not diligently pay your loans. Also, your credit score may be at an all-time low. It often indicates a serious financial problem.

Your Debt to Wage Ratio is higher than 80%

To compute your debt to wage ratio, you have to add up all your repayment obligations in a month. Then, compare it with your monthly salary. For example, if you earn $4000, your accumulated repayment each month is $3,500. But, then, you only have $500 to spend on your monthly necessities and everyday needs.

If your debt to ratio reaches 100% and higher, this is a sign of seeking help from credit counseling services. Examples are Credit Counseling Singapore- a non-government-link organization.

You earn a median wage, but you are unable to repay loans on time

If you consistently have late repayments or haven’t paid your loans for more than three months, you are already in spiraling severe debt. The median wage in Singapore is $3,700. You should start backtracking if you earn above it yet can’t pay your monthly dues. Afterward, recreate a budget plan.

You cannot even pay the minimum repayment amount.

You are in a debt crisis if your duties exceed your salary. If you can only repay just the minimum repayment, it is time to restructure your debt.

You have to choose between paying loans and necessities

If you find yourself deciding whether to buy food or pay your loans, you are in a debt crisis. It is fine to give up your leisure. These are watching movies and buying a new pair of shoes. However, missing basic necessities such as food, water, electricity, and phone bills is a serious dilemma.

Now that you discovered your debts are out of control.

5 Situations that can make it worse

Yes, it can still get worse. But, unfortunately, it does happen.

Getting injured abroad

If you do not have extra savings at hand, you will have a problem when you get injured abroad. The Consulate or Embassy of the Republic of Singapore in the foreign country will only help you contact your significant others back home. But they will be unable to help you financially. Therefore, it is better to have travel insurance with wide coverage if you travel abroad.

Serious house repairs

Suddenly bursting pipes, flooded toilets, and a severe power failure need major house repair. If you have limited money or savings, how will you deal with a refrigerator full of food? These items will easily rot in such a tropical heat.


Suddenly being laid off.

You may have heard some rumors. However, you were not prepared when your company suddenly laid you off due to budget cuts. If you have spiraling debt and suddenly lose your only source of income, you are in trouble. Know the signs if you are about to lose your job.

Credit card fraud

You have heard stories of identity thief victims, and you might never know if you are the next prey. Be careful when putting your sensitive information online. Once a hacker uses your credit card and maxes it out, you will be in deeper debt. The good thing is, with the Monetary Authority of Singapore (MAS) guidelines, your maximum liability is only $100. It would apply to you unless there were negligence on your part. Always keep your card details secured if lost. If you think someone else has been using your cards without your permission, report it to the bank immediately.

Dental problem

It is found not to be able to watch TV due to a power outage. You can live with that for some time. However, if you got a toothache, consider it an emergency since the pain might be too much to handle. Hope you will not need a root canal or any major dental costs.

What to do to escape spiraling debts?

Pay off the bad debt first.

There can be two kinds of debts. Good Debts are loans that can help you with your asset or wealth, such as a housing loan. The bad debts are the ones you have already exhausted their use. Or you have to use it to buy something which depreciates after some time, such as car loans and payday loans.

Pay the bad debts first as they possibly have the highest interest rates. Then, after paying off the bad debts, you can focus more on the good debts. Remember that it will reflect late repayments on your credit scores.

Among the bad debt, prioritize the ones with the highest interest

Pay the highest interest rate first because as long as it gets unpaid, the more interest it will accumulate. Thus, the ballooning cost will blow up in your face. Sadly, a difficult time to escape spiraling debts. 

Create a debt repayment plan

List down all your loans and start a debt repayment plan. Put in their interest rates and the repayment schedule.

Arrange the list in such a fashion. The top should be the ones you need to pay off first.

Join a support group

You will learn responsible borrowing, your rights as a borrower, and your responsibilities. If you have loans from loan sharks by chance, these groups will likely help you find ways of solving this problem. The support groups will not entirely give you money to pay all your debts. However, they will surely give emotional support as having spiraling debt can be psychologically draining.

If you already feel that you will have problems with repayments, never hide from your lenders. Instead, communicate with them. Afterward, you will be surprised that lenders are willing to adjust repayments terms for their clients.

If you need affordable personal loans from a trusted moneylender, visit Cash Mart. Proving their service beyond customer expectations, the staff behind Cash Mart consider themselves their clients’ financial partners.

Moreover, they advise on how the clients get back on financial stability. Call Cash Mart now and learn why their clients are transformed into loyal consumers.

7 Affordable Travel Destinations to Tour Your Friends in Singapore

7 Affordable Travel Destinations to Tour Your Friends in Singapore

Got foreign visitors coming this weekend? Tour them around the country with these top 7 affordable travel destinations.

When we meet new friends and travel to other countries, we tend to invite them to Singapore. Likewise, we tell them to call us up when they turn up in our own city-state.

What if they hit you up on email or chat? Then, they tell you that they are going to Singapore? Afterwards, they’ll stay for a weekend as a stopover before riding the plane to their next destination.

You may get excited about meeting your friends. But, what if you don’t have enough funds to take them around Singapore?

Fret not.

Here are affordable travel destinations to take your visitors.

Enjoy free tours and concerts in the Singapore Botanic Gardens

Singapore Botanic Gardens | 7 affordable travel destinations

Credit: https://www.visitsingapore.com/see-do-singapore/nature-wildlife/parks-gardens/singapore-botanic-gardens/

Take a stroll with your friends in the Botanic Gardens spanning 74 hectares. This year, the Singapore Botanic Gardens celebrates the Heritage Festival. In addition, this event has activities like carnivals and free concerts.

They will not only enjoy the luscious green scenery. But, they will also get to see live bands and orchestras. Moreover, visit the Singapore Botanic Gardens website for free activities and giveaways during festivals.

Address: 1 Cluny Rd, Singapore 259569

Admission Fee: Free

See the Supertrees at Gardens by the Bay!

Supertrees at Gardens by the Bay | 7 affordable travel destinations

Credit: https://www.gardensbythebay.com.sg/en/things-to-do/attractions/supertree-grove.html

Singapore may be the smallest state in the world. But, it has a mega-sized horticulture haven. Your visitors will be in awe of the giant man-made trees. Plus, their marvellous light shows at night.

Aside from the giant trees, they can relish the various species of plants and flowers. Take them to the Sun Pavillion, Heritage Gardens, World of Plants, and the Dragonfly & Kingfisher Lakes. These attractions are open daily for free from 5 am to 2 am. Also, visit the Gardens by the Bay website for other fun activities.

Address: 18 Marina Gardens Dr, Singapore 018953

Admission Fee: Free

Get the cultural fix at the National Museum of Singapore

National Museum of Singapore

Credit: https://www.cntraveler.com/activities/national-museum-of-singapore

Your foreign friends will be happy to join the free guided tours. You can marvel at the 11 national treasures. Also, there are various exhibitions showcased in this museum.

Your visitors will enjoy learning about Singapore’s diverse, multicultural heritage. In addition, the children tagging along can experience sensorial stations, hands-on play, and story-telling sessions. Most of the exhibits are free for children ages six and below.

Don’t forget to visit the National Museum of Singapore website. It helps you know the new activities this season.

Address: 93 Stamford Road, Singapore 178897

Admission Fee: $10 to $15; Free for some exhibits

Shop til you drop at ION Orchard

Ion Orchard

Credit: https://www.wsp.com/en-TH/projects/singapore-orchard-residences-and-ion-orchard

If your visitors love shopping, take them to ION Orchard. There are 22 malls, 6 department stores, multi-label boutiques, and a chain of quirky bookstores. If shopping is not their thing, they can still enjoy the place. Be marvelled by their entertainment. For example, listen to live bands or watch street performers.

The ION Sky adds to its charm. Furthermore, people can feast their eyes on the 360-degree view of Singapore’s cityscape. This observation deck is free of charge. Plus, it is open daily from 3 pm to 6 pm.

Address: 2 Orchard Turn, Singapore 238801

Admission Fee: Free at the observation deck

Unleash the comic geek at Atom Comics

Atom Comics Singapore

Credit: https://geekculture.co/recap-free-comic-book-day-2015-singapore/

Atom Comics is a comic shop in the middle of the city. Bruce Doral Boudville, the owner, loves to welcome comic enthusiasts to open various discussions. This shop usually has comic sales. The best part, it starts at $2.

Also, Boudville offers t-shirts and other hard to find memorabilia. Are your friends are comic geeks who collect comic merchandise? This is the haven they will never forget.

Address: 2 Handy Road, #03-02, The Cathay, Singapore 229233

Admission Fee: Free to look around the shop; a comic can cause at least $2

Trek through Sungei Buloh Wetland Reserve

Sungei Buloh Wetland Reserve

Credit: https://www.visitsingapore.com/en_ph/see-do-singapore/nature-wildlife/reserves/sungei-buloh-wetland-reserve/

Singapore may be a city-state, but we can boast of our nature’s wonder. Sungei Buloh Wetland Reserve is rich in biodiversity. It even has wetlands with an extensive mangrove forest.

Join the free guided treks to see ecological jewels. See the crabs, shellfish, mudskippers, water snakes, monitor lizards, spiders, and otters. In addition, visit during migratory seasons. Thi way, you will witness diverse flocks of shorebirds. Know the best birdwatching season this year by visiting here.

Address: 301 Neo Tiew Cres, Singapore 718925

Admission Fee: Free

Dare to enter Haw Par Villa

Haw Par Villa | 7 affordable travel destinations

Credit: https://theculturetrip.com/asia/singapore/articles/a-guide-to-haw-par-villa-singapores-nightmare-theme-park/

This park has over 1000 statues and 150 dioramas. They show various Chinese mythologies, making it a great place for Chinese culture enthusiasts.

Some dioramas may be creepy for children. But, they are fascinating for most adults. The most known attractions are the “Ten Stages of Hell”. These life-sized dioramas depict gruesome punishments for every sin a person has done. If your visitors are into unconventional attractions, take them to Haw Par Villa.

Address: 262 Pasir Panjang Road, Singapore 118628

Admission Fee: Free

Most of us have friends and families overseas. So even if they suddenly knock at your doorsteps, you will know where to take them without burning a hole in your pocket. Here in Singapore, there is a place for everyone to enjoy for free.

Since having visitors from other countries does not happen often, you might want to take them somewhere grand. However, if you need more cash to make their visit worthwhile, you can get a personal loan from Cash Mart. Cash Mart offers fast cash loans for your every need. Find out more by visiting CashMart.sg today.

Do You Make Mistakes When Taking Personal Loans?

Are you Committing these Mistakes when Taking Personal Loans?

It’s common yet regretful to make mistakes when taking personal loans. Find out if you’re one of the people who fall into this trap.

People have different reasons why they apply for fast cash loans in Singapore. Unknowingly they make mistakes that may cost money and time. However, inevitable mistakes are easy to avoid. Read on to know and understand each, so you won’t make mistakes when taking personal loans like many others.

Top 13 Mistakes When Taking Personal Loans

1. Taking the First Offer

Take your time to do some research and shop around. You are the one who needs the money. So you need to shop around to avoid those who will take advantage of your needs. You might consider taking loans from a bank. But, it will take much longer since banks usually require a lot of paperwork. Instead, try a private legal moneylender that gives more choices with terms, interest and repayments.

The money lending business is a competitive market. Therefore, you will indeed find the best personal loan that will fit your need and ability to pay.

RELATED LINK: Where to Get the Best Instant Cash Loan in Singapore

2. Not Knowing the Credit Rating

You have the right to check your credit score because getting a loan considerably depends on it. So make sure that your credit score is accurate. Your lenders are the one who updates your credit history. So make sure they include the times when you repaid on time.

The credit score reflects your credit history. There are a lot of ways to keep it in good shape. These are avoiding too many loans, paying credits on time and not defaulting on a loan. With a good credit score standing, you may have your loans easily approved and get a lower interest rate.

3. Not going to Eligible Money Lending Company

There are a lot of lending companies floating on the web (see updated licensed moneylender list in Singapore), both illegal and legal. Therefore you have to be careful when choosing a licensed money lending company in Singapore. First, find out how long the company has been in the business. A tenured company means providing quality service enough to keep them in the industry.

Mistakes when taking personal loans in Singapore

Credit: https://moneyloans.com.sg/5-signs-youre-dealing-with-a-personal-loan-scammer-in-singapore/

4. Don’t Check the extra Cost

When it comes to personal loans, make sure that you add the additional fees and closing costs to the total price of what you need to pay. Look at the terms carefully and ask your licensed money lender if you don’t understand some parts.

5. Rushing through Fine Prints

There will be some terms that might add some costs if you are not careful. Avoid late payment penalties and prepayment penalties.

6. Getting Emotional

When borrowing money from a lender, think wisely and do not get carried away by your emotions. Do not get too excited. Get the loan that best fits your needs and financial status. If you borrow money to help a family member or a friend, that is not a good idea.

7. Fabricating Information

Never lie about your income and credit score. Your lender will have the means to counter check your info. You might be in deep trouble if you get caught by losing your loan and paying a large penalty.

8. Payback

Be realistic. Even though you have a steady income, you may think you can easily pay off a loan. Remember that there are still a lot of expenses, bills and needs to attend to. Budget the money well and pay your loans on time.

RELATED LINK: Best Instant Loan for Low-Income Earners in Singapore

9. Skimming the Terms and Conditions

Read the term and understand the words in them. Do not rush. Read the conditions and take note of certain specifics that might cause you to lose money and end up with bad credit.

mistakes when taking personal loans: skimming through terms and conditions

Credit: https://sg.finance.yahoo.com/news/bank-loans-vs-licensed-moneylender-050119888.html

10. Not Asking Questions

It is fine to talk to your lender about some vague terms. Ask away. It could save your time and money. Let them know your personal case because they are most likely able to offer you the best loan right for your needs. Each borrower is a unique case. If there is a problem, it is better to let your lender know. Do not be afraid when they try to contact you. They just want to help you pay off the loan the way you have agreed on.

11. Borrowing Too Much

Make sure that you borrow what you can pay off. If you cannot pay off the loan, you might end up defaulting. Once defaulted, the interest rates will dramatically increase, and you might lose your assets. Your bank accounts will be seized and might get closed.

RELATED LINK: Singapore Loan Shark Scams to Watch Out

12. Not Negotiating

Many do not negotiate with terms and just accept what the lenders present. Usually, borrowers can deal with terms to avoid being financially constrained. Therefore, you are getting a loan to help with your financial needs and not add to your debt problems.

13. Unnecessary Over Extending

Some lenders talk the borrowers into extending their loans. Do not be tempted to do so if you do not need it. In addition, it will only make your credit score look bad. Plus, you will end up paying much more than you had borrowed.

People apply for immediate money loans for various reasons.

They may be single moms who are stuck on a budget, want to pay off debt, buy a gadget, go on vacation, try the best steamboats in Singapore or pay a medical bill, but all need extra cash. It is tempting to have a lot of money. But, do not open a loan if you do not really need it. Be serious with the repayment schemes and never hide from your lender. Loans are supposed to help you not overuse them.

Top 4 Finance Trackers To Ease Money Problems

Top 4 Finance Trackers That Can Ease Your Money Problems

Do you want to ease your money problems? Then, get the best finance trackers in the country.

Most people can’t last the day without checking their smartphones. After all, checking emails, text messages, and chats is a part of our daily routine.

Smartphones are too smart. They let us shop and pay bills while on the go. But have you discovered that smartphones can also help you keep track of your finances?

Creating a budget, sticking with it, and even investing is easy with downloadable apps. Unfortunately, with all the finance tracker apps out there, it is frustrating to find the right fit for you.

There is a wide range of financial challenges people face each day. Financial troubles are hard to knock off because it involves the dreadful balancing of accounts. If your problems are not solved immediately, it could lead to a financial disaster.

You have to identify first the root of the problem and then how you can overcome it.

Where does your money go every paycheck? How can you have a holistic approach to money management? Can you break off from living paycheck to paycheck? How can you have extra savings with minimum effort?

finance trackers in Singapore

Credit: https://www.lifehack.org/890490/finance-apps

Best Personal Finance Trackers Apps in 2017

Wally: To track your expenses

Wally is an absolutely free personal finance app. It helps you see where your money goes, how you spend them, and when. You can also save photos of your receipts for the record’s sake.

Financial lives are complicated, and not many of us love accounting. But, with Wally, you can easily see what happens to your money. For example, you learn what goes out and what comes in. Also, you know what was saved and what needs to be tinkered within your budget.

Wally is user-friendly. It makes financial tracking convenient and straightforward. Every time you spend, simply whisk out your phone. The graphs will give you an insight into where your money goes. This way, you will understand your spending behaviour and how to save up.

Mint: To manage your money

The Mint app is a creation of Intuit Inc. It is the same company which created TurboTax (an American tax preparation software package) and QuickBooks (an accounting software package for small and medium-sized businesses).

The Mint App refreshes your finances just as the real mint gives you fresh breath. It is a free web-based financial tool which can tap into your bank, credit cards, investments, and other financial accounts. There is no need to log into different sites. You just need to open your Mint account.

Mint gives you a visual of where your money goes, how much you have in your bank accounts, which account needs funding, and if you are going delinquent with your budget. In addition, mint allows you to handle your finances way beyond the simple budgeting.

You Need a Budget (YNAB): To slowly get out of debt

Tired of living in a cycle of paycheck after paycheck? You Need a Budget is the finance trackers for you. It helps you define your spending behaviour, create a workable budget, pay the debt, and have extra cash for a sudden financial bump.

YNAB forces you to make a realistic budget, unlike the other apps where you can create a budget with the money you don’t have. If you get off track, YNAB will help you adjust your budget so you won’t wreck the whole budget.

The main goal is for you to have money to spend on the last month’s pay. It means you are free from the paycheck to paycheck cycle. You have money to pay debts and extra cash at hand.

Though users have to pay $50 a year, the services and support are worth it. Otherwise, it comes with a money-back guarantee.

Acorns: To make extra savings

Now your spare change can work for you. With Acorns, micro-investing can be a natural way to earn more on the side.

Every time you purchase with the card connected to the Acorns, the app will convert it to the next highest dollar. The difference between the charged amount and the estimated amount will be automatically invested in a low-cost exchange-traded funds (ETFs) portfolio at the end of the year.

Acorns provide a questionnaire to know your financial situation and goals. Then, the app will recommend a mix of ETFs you can invest in. You can manually set up one-time and recurring investments.

Acorns charges a monthly fee of $1 a month for accounts of less than $5,000. Accounts greater than $5,000 are charged 0.25% per month.

These apps can turn smartphones into your financial companion for better money management. Of course, you may use finance trackers apps for various financial reasons. But, their effectiveness will still depend on how you change your spending behaviour.

It takes time and discipline to reach your financial goals. However, there are times when you’ll get into a financial gap. Don’t panic. Get a personal loan from Cash Mart.

Cash Mart offers various loan products with flexible options just as you need them. Give Cash Mart a call at +65 6397 4111 or send an email to info@cashmart.sg for more information.

Look Out for the Best Credit Card Christmas Deals

Watch Out for the Best Credit Card Christmas Deals

Christmas gives you a perfect excuse to go shopping. Get the best credit card Christmas deals this holiday season.

In addition, Christmas gives you a perfect excuse to go shopping while the banks have the right reason to entice you with the best credit card deals. Discover these promos before the year ends.


  • Still not done wrapping your Christmas gifts? Take them to Maybank’s participating branches at Northpoint, Waterway Point, Jurong Point, and NEX mall until 24 December 2016. Do not forget to show your charge slips to avail the free gift wrapping.
  • Going somewhere before the year ends? Get a $50 cash rebate when you charge at least $1,500 worth of Singapore Airlines ticket purchases. To claim your rebate, you must send an SMS with the code MBSQ and your name, NRIC, and quantity. You can only redeem your rebates twice.
  • When you go shopping overseas, you can earn a $70 cash rebate to purchase at least $1,000 with your Maybank Credit Card. Do not forget to send an SMS to 79898 containing the keyword “OSR,” your name, and quantity. You only have a maximum of two redemptions.

Maybank Singapore | Watch Out for the Best Credit Card Christmas Deals

Standard Chartered

  • You can get a 15% cashback when you charge a total minimum spend of $5,000, including online and overseas purchases. However, you must remember that the cashback is capped at $150.
  • With every charge worth $150 or more in just a single eligible transaction, you will get a chance to play. You can only have one chance a day. So do not forget to register either online or through SMS.


  • You can take home a Samsonite Casso 28” Spinner luggage if you spend a minimum of $8,000 up to S$15,999. However, be mindful to check if it is still available during your purchase, as it is only given to the first 3,500 cardholders.
  • If you want to spend quality time with your significant other, you might be lucky if you are one of the first 1,000 cardholders who spent S$16,000 and above this season. Then, you can avail a free overnight stay in the Wonderful Room at W Singapore – Sentosa Cove.
  • You can have a chance to win two Singapore Airlines Suites tickets to fly to Paris. For the first $1,000 spent, you get 10 chances. Then every S$100 spent will give you one additional chance. However, if you purchase less than S$1,000, you won’t be qualified.

Standard Chartered | Watch Out for the Best Credit Card Christmas Deals


Redeem instant gifts with the DBS Lifestyle app with every single-receipt purchase of at least $250. Note that you only get a chance to play once a day, and only 1000 cardholders can register per day.

On your first to the fifth redemption, you can get S$5 cash credit. It will increase to S$10 on your 6th to 10th redemption. Should you redeem 11 times or more, you will get S$15. Aside from cash credit, you can also choose other special gifts such as a free stay in The Fullerton Hotel Singapore, a dining voucher at The Ritz-Carlton Millenia Singapore, Wing Tai Retail shopping vouchers, and AirAsia BIG Points.

Do not forget to refresh your DBS Lifestyle app. Tap “Christmas 2016 Spend & Redeem” to register and start the game. Select a gift box to get your e-coupons and redeem your gifts.

POSB Credit Cards


To qualify for Citibank’s holiday promos, you have to register by sending the SMS to 72484 using your Citibank registered mobile number.

Spend & Get

If you are one of the first 1,000 registered cardholders to spend at least $5,000, then you are eligible to take home the 20” Travel Luggage (K-2SO). Or, if you are one of the first 2,000 cardholders to spend S$2,000 to S$4,999, you will get the Duffle Bag (Death Star). The promo will end on 26 January 2017.

Trip-for-2 to Orlando for the STAR WARS Celebration

With every S$50 spent with your Citi Card, you will get a chance to win a pair of roundtrip tickets to Orlando on April 12, 2017. It includes five nights and six days of hotel accommodation and a US$200 spending spree at the Disney Store.

Citibank Singapore | Watch Out for the Best Credit Card Christmas Deals


  • You can get 20% off of your total food and beverage bill at the Fairmont Singapore, Antidote, provided that your payment is fully charged on your OCBC credit card.
  • Get 10% off of Swensen’s / Earle Swensen’s ice cream log cakes from 12 Dec to 25 Dec 2016.
  • Receive 8% off from your hotel accommodations in Singapore, Macau and Hong Kong. Other hotel feelings in any other destinations will be deducted by 7%.
  • By entering the voucher code, you will be entitled to 10% off your hotel bookings on expedia.com.
  • You can have $10 off with the $80 you spend when shopping in any Royal Sporting House Outlets. However, it is only valid for the first 3,000 eligible customers.
  • Lazada gives $7 off with at least $50 spent. If you are a new customer, you will get $10 off.

OCBC Credit Cards in Singapore


You must first register your card by creating an SMS: Christmas16-digit credit card number, then send it to 74722. Then, charge your Christmas purchases on your card, but you must reach the minimum spend to qualify.

You can get $10 CapitaVouchers with every $500 charged on the card. Note that you can only acquire a maximum of 5 vouchers.

HSBC Singapore | Watch Out for the Best Credit Card Christmas Deals

UOB Credit Card Christmas Deals

  • Get 15% off Cold Stone Creamery log cakes until 31st Dec 2016. You must order the log cake 3 working days in advance.
  • If you are going out of the country, spend a minimum of $300 overseas and earn 2.4 miles for each $1 spent.
  • Get 5 to 10% off from Dean & DeLuca Christmas related purchases until 29 Dec 2016.

UOB Credit Card Singapore

Christmas is inevitably coming faster as we prepare our gifts and parties. If you prefer cash for your holiday shopping, get a quick cash loan from Cash Mart today.

Why New Graduates Need to Start Working ASAP

Why New Graduates Need to Start Working ASAP

Welcome to the real world! Where news grads need to start working asap.

Students are excited to end their college days and earn that degree they have been striving for.

Well, most of us know that many fresh graduates look forward to a grand vacation regardless of what the future may bring. Is it the right time to chill after years of burning the midnight oil?

Most of them have been given the notion that getting a job will not be as hard as it used to be a decade ago if you have a degree. Is it true? After graduation, should you go on a grand vacation or look for your first job? Here are why the latter could be the right choice.

5 Reasons Why You Should Start Working ASAP

Why New Graduates Need to Start Working ASAP

Credit: https://www.forbes.com/sites/ashleystahl/2020/06/11/4-steps-every-new-college-graduates-should-take-during-covid-19/?sh=587587452c1a

A ‘better opportunity’ will come


Let’s say you have been looking for a job. You went to interviews smartly dressed, but in the end, you declined the offered positions as it did not fit your expected income. However, you are confident you’ll strike a better offer. Is there such a thing as a better opportunity?

Some millennials have a high expected salary because they think their degree deserves it. And it is not just the income. They want a job they can flaunt on social media to impress their family and friends. It is not practical at all.

Remember that you are a fresh grad. You may have a degree, but you lack experience. So it does not hurt to start at the bottom and work your way up.

And if you think it will take a longer time to get to the job you want, you can take a job at the factories or car dealerships. The pay is fair, and at the same time, you can look for a job while already earning for yourself. Being young and financially independent is something also impressive.

The long break is unattractive to employers.

How long do you plan to stay on vacation? Some employers dislike fresh graduates who took a long time to find their first jobs. So you better have a good explanation for why you did not work for longer than a year.

Longer breaks will make you seem too picky for a job or happy-go-lucky. If you are asked for your reasons, you better not say that you are still looking for a better opportunity. It will earn you a negative impression.

Start your savings

The earlier you start your work, the earlier you can start saving up in your CPF account. So what’s in it for you? CPF can help you get your home, have retirement benefits and even get education loans for your future children.

No matter how much you earn in your job, your employer is subject to providing 16% of your CPF contributions. It is still something compared to a zero amount. Imagine how much you could save up in a year.

You will have a good head start if you start working earlier than your peers. You will not only have CPF savings, but you can also learn more skills, gain experience and get more contacts. These are advantages you do not get with a degree alone.

A degree isn’t a guarantee.

A degree isn’t guaranteed that you’ll get your target job position immediately.

Yes, you earned a degree after studying for a few years. So your degree might give you an advantage in getting a job, right? But what if there are a lot of fresh graduates also eyeing the same job and they also have the same degree?

A degree may give you enough knowledge and skill to start and stay in your chosen career. But, it does not guarantee that you get your dream job easily. Also, you are not certain if you will be offered promotions by just having that degree. Why?

A degree isn’t a guarantee that you’ll get a promotion.

Most employers prioritise interpersonal skills. They will consider how you interact with your colleagues. It includes your professionalism and leadership. It will be a real advantage if you can show that you have learned new skills while on the job.

Not diving in your industry makes you obsolete.

If you do not get a job as soon as possible, you will be obsolete. You have learned theories at school, but these will change after a few years.

Take, for example, Basic Life Support. Health care providers learned that it was ABC: Airway, Breathing and Circulation. They need to check the vitals and do needed actions according to this order to revive a person. After a few years, it is now changed into the CAB: Circulation, Airway and Breathing.

The good thing about working in the industry as early as possible is that you can move forward as the industry moves on. In addition, your employer will pay for your training, and you will learn more which you can use to show that you deserve future promotions.

Vacation may seem fun, but you can’t take back the time you could have used to kick-start your career earlier than your peers. However, you have time on your hands, and you can convert it into advantages.

Do you need to start working asap due to urgent money needs? Then, head over to Cash Mart. It offers a low-interest personal loan. Also, the licensed moneylender approved an online application for zero credit borrowers. Check it out now!

10 Dumb Travel Habits To Ruin Holiday Vacation

10 Dumb Travel Habits that Could Ruin Your Holiday Vacation

It is no secret that Singaporeans are avid travellers abroad every time there is a chance to grab. However, with the demanding jobs and everyday stress, travelling is surely meant to be an enjoyable relaxation. Sadly, certain avoidable travel habits must not restrain.

Travel Status of Singaporeans

In 2015, 9,125,331 Singaporeans travelled abroad with leisure as the main purpose.

Travel Destinations

In addition, a travel search engine called Skyscanner identified the most visited countries. Most Singaporeans headed to Bangkok, Thailand. Their reason is to breathe away from the daily bustle of life. Others prefer Bali’s beaches for their ocean adventure. Some visit Hong Kong’s shopping districts for some fun spending. Furthermore, families with kids tour Tokyo for its Disneyland. On the other hand, they opt for Seoul to have an exciting nightlife.

Each year the number of outbound departures has constantly been growing. It shows Singaporeans’ increasing desire to spend more holidays in other countries. Regardless if they want to travel alone, with family and loved ones.

Earlier in 2016, intentions to travel have drastically shifted to Japan, followed by Australia and South Korea.

Travel Ranking

And despite the unpredictability of the economy, travellers would instead tighten their belts than give up a choice to go abroad. As a result, there is a noticeable decline in the traveller’s expenditures. So it is according to the Visa Global Travel Intentions Study in 2015.

Saudi Arabia was the top spender in 2015. But from 2013 to 2015, their expenses declined by 12%. Plus, it was expected to go down a further 6%. On the other hand, Singapore ranked in 17th place with no change in expenditure from 2013 to 2015. However, seemingly unaffected by the increasing cost of living, Singaporeans are to increase their spending by 53%.

Based on the Visa Affluent Study 2015 survey conducted in 2014, Singapore residents are the most travelled affluent. They come with 3.1 average trips from November 2013 to November 2014. The total number of trips has even matched the trips of Chinese overseas. An affluent Singaporean has an average age of 37 with a household income of over 150,000 SGD. Moreover, four in five Singaporean respondents have travelled with their families. Plus, they plan to do more adventure in other countries at 4.7 average trips this year.

During the family vacations, 81% of the Singapore affluent shared that they aim for a special family bonding. However, they tend to binge on various luxuries. Also, the survey showed that shopping is the most popular reason why Singaporeans choose to go to other countries such as Hong Kong. Around 37% determine their destination based on sightseeing. Meanwhile, 29% travel to explore the food in popular restaurants.

Travel Habits that You Need to Avoid

Trying To Tick Things Off Of A Bucket List

Some travel habits are to complete a bucket list, thinking they ‘have to do’ it before passing away. Meanwhile, others have a list of ‘must-do’ to impress their social circle. Rather than having a list of destinations you can’t afford yet, you can explore less known places. Also, you get to discover hidden beautiful vacation spots. Enjoy what you see rather than be pressed by a list.

Taking too many pictures

Rather than seeing the sceneries through the lens, give yourself some time actually to take in everything with your own eyes. While it is understandable that you want to bring memories in photos, it is better if you experience being there and your presence felt by your companions.

travel habits of picture taking

Credit: https://www.hotel-online.com/press_releases/release/10-things-you-need-to-know-about-millennial-travelers/

Trying hard to experience the culture

Stop trying so hard to be like a local. You don’t have to dress and talk like them to experience and learn more about the culture. In addition, there is no need to be on the cultural tour for days. Instead, go to a local bar and chat with the locals. Moreover, experience their warm friendship. Also, if you don’t know the language, you can use universal body gestures.

Living up to expectations

If you have expectations, expect disappointments to come their way. Embrace the experience as it is.

Partying too much

You won’t enjoy the place you have travelled and paid for if you have a terrible hangover.

Forcing yourself to enjoy something you don’t really like

If you go to France to see the famous Louvre and the other museums, you will see a café where you would love to spend the afternoon sipping coffee and viewing from that perspective. Then, do what will make your heart content. Do not do something you don’t enjoy just because it is famous in that country. Your time is very limited. Remember that a vacation has to make you fill relaxed, not taxed.

Worrying about getting lost

Getting lost abroad is terrifying because of the thought that you may end up in a bad neighbourhood. Or get stranded away from the comforts of your hotel. However, this same fear will lock you in places too generic for tourists. If you want to enjoy the area as it is and meet the locals, wander.

Sacrificing for your travelling companion

Are you travelling with your longtime boyfriend or best friend and want to go to different places? There is no need to sacrifice. You can split up. Then, contact each other later or arrange to meet up.

travel habits with your companion

Credit: https://www.onetravel.com/going-places/millennial-travel-more-than-baby-boomer/

Refraining from looking stupid

It is fine to look stupid in a place you are not familiar with. You might only be in that place once in your life. Enjoy with travel habits in the most comfortable way you can. However, do not let this worry stand you from learning culture, languages and traditions. It is common for foreigners to look silly to locals.

Thinking about work

Let out the steam. Do what you want at the pace you need. Your work will be waiting in Singapore, but your vacation will only be for a few days to make the most out of it.

Need more cash to get to your dream destination?

Try searching for top licensed moneylenders in Singapore or simply call Cash Mart. We are a reputable money lender who can assist you through a smooth and quick personal loan application.

Singaporean Household: Cost of a Foreign Helper

Singaporean Household: Real Cost of a Foreign Helper

A domestic helper is famous for household chores. But before hiring someone, know how much is the actual cost of a foreign helper.

Whilst Singaporeans are very hard working to provide for their families. They have very limited time for household chores: from taking care of the laundry to walking the dog every day. Thus, having a foreign domestic helper has been popular to keep the household in order.

Why are we reliant on maids?

Taking care of elders

While there are nursing homes for the elderly, many can’t afford such facilities and having a maid is way cheaper for them. Thus the government gives tax deductions to those who hire maids to care for their elderly parents. Instead of paying the monthly levy of $265, they are only required to pay $60 a month.

Long working hours

Since Singaporeans are known to have great dedication to their work, they have very little time with the household. They sometimes take home some of their work which they deal with after putting the kids in bed. Thus the work-life balance has been too much altered. There is a slight possibility of having still the energy and time to deal with vacuuming the floors and cooking.

Many don’t know how to cook.

Many Singaporeans are used to eating out because they lack practice when it comes to kitchen matters. In the Electrolux Asia Pacific Food Survey in 2014, 65% of Singaporeans admitted that they think they have limited or disastrous cooking skills. While singles can still handle eating in restaurants and fast-food chains, those with children have to resort to getting a maid.

Hiring a foreign domestic worker (FDW) is a standard solution to taking care of most house-related activities. However, you must know that the Ministry of Manpower has strict regulations for hiring FDWs.

Ministry of Manpower in Singapore | The Real Cost of a Foreign Helper

Before you start applying for a work permit for an FDW, you must know your helper’s biographic data such as name, age, nationality and other passport and personal details. MOM will also require you to identify the personal information of everyone living at your address.

MOM assesses applications strictly by income. So naturally, you can only hire a helper if you can afford it with your current income. However, there are certain exceptional circumstances.

Sponsorship is when an elderly at the age of 60 wants to hire an FDW, yet there is a lack or absence of income, and he/she has no other living adult with him/her. MOM will assess the application based on the sponsor’s (children, grandchildren or siblings) income.

Another way is through Joint Application. The employer can combine income with an immediate family member (other than the spouse) living with them at home.

Foreign domestic worker eligibility

Generally, the FWD must be a female aged 23 to 50 years old from the government-approved country. In addition, it must have a minimum of 8 years of formal education with a recognised certificate by MOM.

You may interview your potential FDW. Ask about their strengths and weaknesses. Also, test the appliances they know how to use. In addition, assess their household skills like cooking. Furthermore, know their motivation for work. See if they have children to create an understanding of her goals further. Finally, determine their level of English language. While some are good at English during the interview, many still struggle with everyday use. While interviewing, you may also be upfront about your expectations and other particular household rules.

Are you Eligible to hire an FDW?

While there are a set of eligibility requirements for FDW, employers also have theirs.

To apply for an FDW, you must be 21 years old, have never been bankrupt, and have the full mental capacity to discharge your responsibility as an employer. In addition, as a first-time employer, you are required to attend an Employer Orientation Programme (EOP) before you apply for an FDW.

The Cost of a Foreign Helper:

  • The monthly salary is about $500 or more per month. Note that the salary depends on the agreed salary multiplied by 26 days per day.

$500 x 12= $6,600

  • The monthly Maid Levy costs $265. However, remember that the levy for sponsored applications is only $60.

$265 x 12 =    $3,180

  • Maid Agency Handling Fee: S$2000/ or more as a “package” for a “new maid.”

The package costs around $1500 – $1800 for “rehire maid” or helpers who already have a record as an FDW. These costs vary depending on the agency. However, choose carefully which agency you will use. Again, try to look for feedback on the agency’s website and social media accounts.

  • First, Time Employers have to undergo an Employer Orientation Programme with an online test set costing $40
  • Settling-in Programme – $75 for first time FDW
  • Work Permit application – $30
  • Work Permit issuance – $30
  • Security deposit – $5,000
  • Medical Insurance coverage – minimum coverage of $15,000
  • Personal Accident Insurance – minimum coverage of $40,000
  • Paid Day Offs if included in the agreement. Day Offs maybe 2 to 4 days per month, and on Sundays.

Total:    $71,355


Hiring a new FDW will cost you $ 71,355 in the first year. However, as different employers have various agreements with their FDW concerning lodging, food and other miscellaneous expenses, these are excluded from the calculated costs.

Now you know the real cost of a foreign helper. Do you seriously need extra help in your household? Do you need more cash to start applying for one? You can start your loan application now, as Cash Mart can give you cash disbursement today. So visit the Cash Mart website and start filling up the loan application to experience the fast and smooth loan process you deserve.