5 Things You Need To Do This Chinese New Year To Save Money In 2018

Hello! As Chinese New Year rolls around the corner, here are 5 things you can do to save money. Singapore’s 3-Month SIBOR has risen to 1.12% in the last 3 years. For context, it was just 0.46% in January 2015. That means if you are on a floating rate home loan, and coming out of your lock-in, it’s time to consider refinancing your home today. We’ve seen banks progressively raise their interest rates in 2017 and we expect the same trend to follow in 2018. [You can check out the latest home loan refinancing rates here](  Many Singaporean drivers automatically renew their insurance with their existing motor insurance provider. Comparing and shopping around before you renew may potentially save you up to 35% off your premium. After serving more than 1000 motor insurance customers in 2017, we’ve been able to save the average customer more than S$400 on their motor premiums. Don’t take our word for it, try out our car insurance calculator here and see how much you can save. We also have selected insurers which are running Chinese New Year promotions till 18 Feb with up to 28% off. So this may be a good time to get a quote if you’re up for renewal in the next 3 months. [Compare Car Insurance Quotes Here](  Credit card companies and banks earn 2% - 3% on every transaction you make with your card. These ‘fees’ eventually make their way back to all of us in terms of higher prices for our goods and services. You can get a proportion of these fees back in terms of cash back benefits or air miles. You should consider getting a credit card if: - You are still using a debit card despite qualifying for a credit card - Your existing credit card offers poor benefits - It helps you get bonus interest as part of your savings account We’ve also compiled a list of the best cash back credit cards to use this Chinese New Year, which can be found [here](. [Compare & Get A Better Credit Card Here](  Did you know that you can get free travel insurance if you purchase your travel tickets with your credit card? While this benefit does not apply to all cards, most air miles credit cards have this as a key benefit. You can compare our air miles credit cards [here](. Even if you’re more of a cash back kind of person, standalone travel insurance can be purchased from as low as S$7. Either way, you can always compare travel insurance prices and benefits on the MoneySmart website before traveling. As there are several long weekends coming up in the next few months, we are currently running a travel insurance S$5 NTUC voucher promotion and a [S$80 daily giveaway]( from now till 15 February 2018—so do take advantage of that if you are traveling. [Compare Travel Insurance Plans Here](  Dining out in Singapore is expensive especially if you’re into more atas (expensive) places. The Entertainer offers 1-for-1 deals on mains and drinks from more than 900 restaurants. It costs S$95 for The Entertainer, Cheers & Bali 2018 which you can easily make back in terms of savings. Also, one lucky MoneySmart reader will also walk away with a S$100 Pizza Express voucher if you purchase The Entertainer via our link below. Key in promocode: MONEYSMART2018 [Buy Now]( Do you have more money smart tips? Do reach out to us and let us know! Cheers Shi Wei From The MoneySmart Team  [Unsubscribe Me]( MoneySmart.sg c/o Catapult Ventures Pte Ltd, Blk 115A Commonwealth Drive, #05-01, Singapore 149596, Singapore