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Why 7.7 Isn't Just A Day To Shop, But Also For You To Begin to make Better Financial Decisions
When you are looking at dates like 7.7 (7 July), 10.10 (10 October) or 11.11 (11 November), internet buyers are often excited by these special shopping days using the best, can't-miss deals. For people who aren't big on shopping, it's easy to believe that these dates mean absolutely nothing to us.
But that isn't always true. If you're someone, like me, who prefers making better financial decisions, dates like 7.7 can also be a good day to examine the financial decisions we have been procrastinating on, and take concrete actions to improve our current finances, while saving (as well as earning) some cash simultaneously.
Get Started On Neglect the Journey On 7.7
If you have been reading DollarsAndSense for some time, you would surely know by now the importance of starting your investment journey early. Yet, it is never past too far to begin.
Investing doesn't need to be intimidating. If you're unsure of the way to invest, Singapore's first hybrid human-robo advisor digiPortfolio by DBS has been designed to help us begin our investment journey from less than SGD/ USD 1,000. Actually, you don't even need to open a good investment account because most individuals Singapore already have a DBS account. Simply sign in to your DBS digibank app or web site to start investing today.
Through DBS digiPortfolio, you will gain access to quality ETF-based portfolios that have been specially curated by DBS investment experts. You are able to pick the risk level that you are confident with, and the portfolio will be constructed according to your choice. Do find out more on our review of the DBS digiPortfolio here before getting started.
If you want for the investment funds to become actively managed by a fund manager, you can look at purchasing unit trusts via DBS. This could be also done online on our DBS iBanking platform. With unit trusts, you can choose the geography, sectors and kind of assets that you would like to purchase, and DBS will suggest the funds that you could consider based on your inputs.
On 7 July 2021, DBS will be providing a very attractive S$18 cash rebate to DBS customers who invest a minimum of S$1,000 money in the DBS digiPortfolio or online unit trusts. This is applicable even for existing investors with DBS.
Best of, the rewards given for the DBS digiPortfolio an internet-based unit trusts are independent of each other. What this means is should you invest a minimum of S$1,000, each, both in the DBS digiPortfolio an internet-based unit trusts, you get 2 X S$18 cashback rewards. Not a bad method of getting going on your investment journey!
Improve Your Insurance Coverage On 7.7
Even while you invest for the future, it's important to protect yourselves and your loved ones financially today. In the end, life can throw us curveballs that nobody can anticipate.
Life insurance protection is essential especially if you have dependents, such as children, elderly parents or non-working spouse, who are reliant on your earnings. If you are not around to maintain them, a life insurance payout can offer your dependents with the financial support they need to continue living their lives without having to be worried about money. A phrase life plan can be an affordable way to cover against death, total and permanent disability or terminal illness.
Besides life insurance coverage, additionally you need to protect yourselves against critical illnesses. When you may recover physically from a critical illness, the experience would take a psychological, physical and financial toll on the family. Critical illness coverage enables you to a minimum of remove the financial burden on the family throughout the recovery period.
Additionally, don't forget your house – probably the most valuable asset that you simply likely own. A fire, major leak or even theft could destroy and rob you not just of the valuable belongings that you own, but also leave you needing to incur hefty renovation costs. You may also have to seek alternative accommodations during this time period. Thus, a house content insurance plan is essential in making certain you do not incur heavy financial losses if such an unfortunate incident occurs.
If you need any of these insurance coverages, 7.7 is going to be a great time to consider getting the policies that you need. Through DBS, you may enjoy premiums starting from as low as $1.49* per month for TermProtect, which is a term life insurance plan, or premiums at $2.86* monthly for eCriticalCare, that is a critical illness plan, each of which are offering 50% off first-year premium discounts.
For home content insurance, you'll receive S$50 of shopping vouchers if you purchase the myHome Protect home content insurance policy on 7.7 through DBS.
Save More income On Essential Services On 7.7
Besides your investment and insurance needs, making better financial decisions does mean making certain you get the very best bang for your buck when you invest in essential items. As the saying goes, $ 1 saved is a dollar earned.
In Singapore, one of the simplest ways you can save money each month is to simply pay less for the electricity. Through one of the many plans supplied by OEM providers, you can enjoy cheaper electricity rates than what is offered through the default provider, SP Group. If you haven't already switched provider, you can use the DBS Utilities Marketplace to locate a suitable plan for yourselves.
7.7 is a great day to create that switch when you have dirty so. This is because DBS will be giving one more $8 cashback, on top of every other rebates that'll be provided by the OEM providers. To do so, pre-register your interest first. On 7.7 itself, shop on DBS marketplace and make a transaction to get the $8 cashback.
Besides electricity plans, you can also you will want a product from their Education marketplace or Leisure and Travel marketplace. So you are not only limited to one category for that cashback offer.
Earn 8% Cashback When You Pay At Online Marketplaces Using DBS/POSB Cards On 7.7
If you are already looking to score some great online deals offered by ecommerce platforms such as Amazon, Lazada, Qoo10, Shopee and Taobao, here is a bit of great news.
You will even enjoy an extra 8% cashback (capped at $8 per cardmember) by looking into around the 5 online marketplaces using any DBS/POSB Debit or credit Cards. So, take full advantage of the chance to spend less in your purchases, whether you are shopping for yourself or even the household. To get the best deal, keep your to around $100 (or as near as you are able to) and pay using your personal DBS/POSB Cards to receive the 8% cashback, capped at $8 per cardmember. If you're planning to buy more items, split household purchases across your spouse or family members' DBS/POSB Credit or Debit cards and they will also relish the 8% cashback.
Remember, the 8% cashback is along with any savings that you are already enjoying from the 7.7 flash deals and DBS/POSB Cards promotions here
Pay Using PayLah On 7.7
7 July falls on a Wednesday this season, that is a regular working day for many people. Regardless if you are working in the office or working from home, there is a good chance you may want to buy your lunch or dinner if you're not planning to cook.
If you are spending money on your hawker meal on 7.7, make sure to pay using DBS PayLah!. You will get to savor an 8% cashback in your first PayLah! transaction at hawkers or any merchants*. So if you are spending money on a $10 meal, paying via PayLah! will means getting an $0.80 cashback. Do observe that the cashback is capped at $1 for that first 300,000 customers, no minimum spend required.
How Much Can We Earn On 7.7 DBS Extra Bonus Day?
After reviewing all the various perks that you can enjoy on 7 July 2021 with DBS Extra Bonus Day, we couldn't help but make an effort to calculate how much one could earn tomorrow.
Just by making simple financial decisions at the time itself. Here's the possible amount that an individual can also enjoy.
Start investing via DBS digiPortfolio as well as in Unit Trusts via DBS | 2 X Receive S$18 cashback |
Purchase myHome Protect home content insurance through DBS | Get S$50 shopping vouchers |
Choose an OEM plan through DBS marketplace
|
Earn S$8 cashback, along with any additional rebate (as much as S$80) the OEM provider can also be giving |
Pay utilizing a DBS Debit or credit Card on online marketplaces (Amazon, Lazada, Qoo10, Shopee and Taobao) | Earn as much as S$8 cashback (8% cashback) |
Pay using PayLah! at hawkers or merchants | Earn as much as S$1 cashback (8% cashback) |
Total | S$103 in cashback and vouchers |
Of course, the exact amount that people earn very much depends on the financial decisions that we wish to make on the day itself. It is possible you may even earn more than the $103 that people show above.
The point here is that even as a non-shopper on 7.7, we are able to take stock on any financial related decisions that people may have been procrastinating on, and to use the additional benefits offered by DBS on this day to encourage us to do this!
Find out more about the facts of those promotions on the 7.7 DBS Extra Bonus Day.