Set up your whole funds in a single position with OCBC Monetary OneView






Just right information for Singapore: SGFinDex now formally comprises insurance coverage knowledge, because of this that you just and I are in spite of everything in a position to regulate our financial institution accounts, CPF, HDB, IRAS, CDP investments and insurance coverage insurance policies all inside of one position. To take action, you’ll want an software, and the only I for my part use essentially the most is OCBC Monetary OneView. Right here’s how you’ll be able to take advantage of out of it, like I do.

It’s no secret that I’m an enormous fan of SGFinDex. Finally, it’s due to this that I used to be in spite of everything in a position to ditch the Excel sheets and see all my financial institution accounts in a single position ultimate yr. And despite the fact that I’ve identified this used to be coming for a while, I’m satisfied I will now communicate publicly about the newest addition of insurance coverage knowledge to SGFinDex – an enormous leap forward that used to be introduced by means of the Financial Authority of Singapore (MAS) past due ultimate yr.

If you happen to haven’t been following, SGFinDex is the arena’s first public virtual infrastructure that permits people such as you and I to soundly get entry to – by way of Singpass – our monetary knowledge held throughout other executive companies and fiscal establishments.

Due to SGFinDex, you’ll be able to now skip the guide paintings and let generation do it for you. Then again, you’ll want an software with the intention to have the benefit of SGFinDex. Whilst the other banks and fiscal establishments are preventing to construct the easiest app to win marketplace proportion, my favorite for now remains to be OCBC Monetary OneView.

OCBC Monetary OneView – a monetary making plans device discovered for your OCBC Virtual app – is without doubt one of the enhanced cell programs that you'll be able to use to sync with the improved SGFinDex at the moment, to get a way of your general monetary knowledge throughout all of the other executive companies and fiscal establishments. It additionally occurs to be my non-public favorite as a result of I’m a sucker for the gorgeous UI design, which makes for excellent screenshots on my weblog and social media.

With OCBC Monetary OneView, you’ll be able to leverage the ability of SGFinDex to take again possession and keep watch over of your funds, as you’ll be able to now consolidate, plan forward, monitor objectives or even get customized insights.

In my case, I exploit the app every month to test at the following:

  • Are my property rising over the years?
  • Are my money owed or mortgages decreasing / manageable?
  • Did I overspend on my bank cards in my ultimate invoice remark(s)?
  • Are there any upcoming insurance coverage premiums that I wish to pay?
  • How a lot am I spending on insurance coverage this yr?
  • Is there an upcoming insurance plans cost due that I will have overpassed?
  • How has my SGX portfolio allocation modified because of risky inventory value actions in fresh months?
  • Am I not off course to hitting my 1M65 CPF goal?
  • Am I optimising my SRS budget?

Those are pertinent questions that you’ll be able to undertake for your self to observe your monetary well being similar to how I do.

On this article, I’ll display you the way I exploit the app to verify I’m at all times not off course, financially.

Set up the entirety in a single position with OCBC Monetary OneView and SGFinDex

The end result of SGFinDex could be pointless and not using a robust software to make sense of all that knowledge, and my selection this is OCBC Monetary OneView.

The most productive phase is, the device is unfastened to make use of for all OCBC shoppers.

Which must just about describe virtually each and every Singaporean, or a minimum of, each and every Price range Babe reader since the OCBC 360 account used to be one of the most first few I beneficial maximum of you to open since I began this weblog in 2014 (the account made its debut only a yr prior to this weblog used to be born).

If you happen to’ve already used it prior to, all you want to do is to sync to replace your newest month balances. But when that is your first time the use of, you are going to first wish to attach your newest knowledge with SGFinDex (see how right here).

I’ll duvet the under steps for the ones of you who have not begun to sync your insurance coverage knowledge, since that’s the brand new building.

Step 1: Attach your insurance coverage knowledge

Get started by means of tapping on “Your Monetary OneView”.

Choose “Set up” (on the peak proper nook).

Then again, scroll to the ground of your abstract web page and make a selection “Upload or take away” portion so as to add your insurers.

Choose “From SGFinDex” so as to add the insurers that you’ve insurance policies with.

Word: It is very important manually login to every in their portals with the intention to attach and sync the information over, so this will likely take some time relying on what number of other accounts you’ve got.

Step 2: Replace your monetary knowledge with SGFinDex

Subsequent, sync to replace your newest month balances around the other insurers, banks, CPF, IRAS, HDB and SGX CDP.

(Word: It is very important refresh your reference to SGFinDex each and every month with the intention to retrieve your newest knowledge, since our funds are in a relentless state of trade.)

If that is your first time, take a look at my earlier article right here on how to hook up with SGFinDex.

Now that you’ve a view of your newest knowledge, congratulations, you’re in a position to regulate it.

Let me display you the way I do it every month.

1. Take a look at for your property vs. loans

Each month, I’ll sync my knowledge so I will take a look at on my property and what I owe.

What I’m having a look out for right here comprises:

  • Are my property rising?
  • What my temporary money owed (bank cards) did I incur this month, and feature they already been paid?
  • Are my long-term debt (a loan) repayments nonetheless manageable on this generation of emerging rates of interest?

In fact, there are nonetheless some boundaries that I nonetheless can’t use SGFinDex to trace for now. At this time my listing comprises:

  • My money and glued deposits held in different banks (e.g. CIMB)
  • My equities / securities custodized with different brokerages, which don’t take a seat in my CDP (particularly for US and HK shares)
  • My investments in robo-advisors

I’m hoping those will in the end get added into SGFinDex, However until then, the excellent news is OCBC Monetary OneView device lets you manually upload your money holdings (in different banks) for higher readability and fuller image of your funds.

Merely return to Step 1 and make a selection “Handbook access” so as to add what you’ve got within the different banks (and even your piggy financial institution financial savings).

Banks like CIMB, BOC and RHB are nonetheless no longer a part of the SGFinDex community. When you have any property held in those monetary establishments that you just’ll like to regulate the use of OCBC Monetary OneView, you’ll be able to merely upload them manually right here on your personal reference.

2. Take a look at your bank cards bills

Within the earlier step, I already noticed how a lot I’ve spent throughout all my bank cards.

To trace how a lot I’ve spent on every card ultimate month, I’ll then click on at the “Merchandise” evaluate on my app. This is helping me to trace my general spending patterns, in addition to function a reminder to test whether or not I’ve paid off my bank card invoice.

Through monitoring this per 30 days, I’m in a position to identify if there are some months the place I’ve spent greater than I most often do, and align again to the foundation motive (generally as a result of insurance coverage premiums have been due in that month, or we went on a circle of relatives vacation).

Word that in case you have bank cards from an issuer that isn’t a part of the SGFinDex spouse community, then that shall be an opening that you just’ll must deal with one after the other by yourself…for now. In my case, my CIMB bank card warrants separate consideration, because it doesn’t display up right here.

Now that I’ve reviewed my credit score spending and am happy with the well being of my bank cards for the month, I am going on to test at the standing of our insurance coverage.

3. Observe your insurance coverage premiums

One in all my largest fears comes to insurance policies lapsing as a result of we forgot to pay the premiums. Fortunately, the newest from SGFinDex now lets in me to in spite of everything (!) see maximum of my insurance coverage insurance policies on OCBC Monetary OneView.

All of our children’ insurance coverage insurance policies are below my title, so with this, I’m in a position to trace how a lot I’m paying annually and get reminders when any upcoming premiums are due.

You’ll be able to now monitor your insurance coverage premiums, each in my view for every coverage and the gross overall of what all your insurance policies price you.

Want extra main points on a selected coverage? Merely faucet on it to view – this protects you the trouble of getting to log into the insurer’s web site or app one after the other while you simply need to see a snappy evaluate of what you’ve got!

When you have insurance policies with different insurers who don’t seem to be within the SGFinDex community, you’ll must proceed tracking them one after the other. Sadly, this implies I’ll nonetheless have to trace my FWD insurance policies with my Excel spreadsheet for now.

Psst, whilst getting the OCBC crew to check this text for factual accuracy, they instructed me that they’re running on development the power for customers to manually upload another insurance coverage that they’ve, in order that may cross are living quickly!

P.S. If it is helping, I’m recently the use of this for consolidating and sharing our circle of relatives’s insurance coverage insurance policies with my husband.

Assessment your protection gaps

In fact, in case you’re no longer positive whether or not you’re adequately insured, you’ll be able to use OCBC Monetary OneView to lend a hand spot any protection gaps and notice what they counsel for you, in line with your annual source of revenue.

As an example, prior to I synced all my insurance coverage knowledge over, it known that I may have an opening for Crucial Sickness:

 and thus beneficial me those plans:

For the document, I do not need a CI protection hole. I sought after to peer what could be beneficial to me therefore I withheld syncing that knowledge over to start with.

You’ll be able to browse the beneficial insurance policies to plug the ones gaps or even follow by way of the app, or use them as a kick off point to have a talk along with your FA and come to a decision what could be right for you.

This additionally makes for more uncomplicated common critiques along with your partner and/or monetary guide, and equips you with additional info when paying attention to your FA’s tips about what to shop for.

In mild of the inflationary setting we’re in, please remember to’re smartly secure in opposition to your largest monetary dangers!

4. Take a look at your CPF balances

My CPF is my protection nest for retirement, so I began making voluntary top-ups in my mid-20s and persisted that apply till now. Since hitting the Fundamental Retirement Sum 2 years in the past, I’ve long past directly to hit the Complete Retirement Sum previous this yr.

I really like to test on my CPF balances to verify I’m not off course to attaining 1 million by means of 65 (examine the 1M65 technique right here).

Most sensible up your CPF without delay from OCBC

A couple of months in the past, OCBC become the primary financial institution to permit Singaporeans to make CPF top-ups without delay the use of their OCBC app. As any person who has been doing this manually for the previous few years, I will inform you, this has made my lifestyles such a lot more uncomplicated.

Open your CPF balances and faucet on “Make a CPF top-up”.

P.S. If you happen to haven’t already finished your CPF top-ups for this yr, remember to do it prior to the yr ends if you wish to qualify for tax reduction!

And that’s it!

When I’ve synced with SGFinDex, doing the above overview of my monetary well being takes me only a few mins on OCBC Monetary OneView every month.

Get your monetary lifestyles below keep watch over

I’ve been the use of OCBC Monetary OneView with SGFinDex because it used to be introduced, and do numerous my monetary tracking with the app. That is essential to ensure that I’m not off course to hitting my lifestyles objectives, together with retirement and for my youngsters.

If you happen to’ve no longer already been the use of it, then you definately’re in point of fact lacking out!

Get started by means of making plans on your lifestyles objectives the use of OCBC Monetary OneView, then make sure you have a plan to get there. Alongside the way in which, you'll be able to obtain and employ the monetary making plans guidelines customized for you by means of the app, with the intention to make better-informed choices in the case of your funds. 

Everyone knows the significance of monetary making plans, however beginning your plan and frequently reviewing it was a tedious chore. Now not anymore.

Due to SGFinDex and OCBC, making plans and tracking your growth every month is now such a lot more uncomplicated.

I’m hoping that having walked you thru how I for my part do it, you’ll be able to now mirror the similar and achieve that self belief to benefit from the provide…with no need to fret about this “must-do however no longer finished but” accountability that lingers in the back of your thoughts. It’ll now simply take you a few mins!

TLDR: use OCBC Monetary OneView like I do to:
  • Plan on your monetary objectives
  • Observe your property vs. money owed
  • Make sure to don’t exceed your bank card bills
  • Stay monitor of your insurance coverage and get cost reminders for upcoming premiums
  • Assessment your protection and plug any coverage gaps in time
  • Be sure that you’re not off course to hitting 1M65 for your CPF
OCBC Monetary OneView used to be not too long ago said at the newest 2022 World Retail Banking Innovation Awards (GRB Awards), profitable Best Cell Banking Initiative for OCBC Financial institution.

The most productive phase is that the app is unfastened, so what else are you looking ahead to?

Disclaimer: This can be a subsidized put up written in collaboration with OCBC. I’ve been the use of OCBC Monetary OneView ever since SGFinDex enabled me to glue all my knowledge around the other monetary establishments, and for my part skilled the innovative adjustments to the device made since then, which has helped me get much more readability and keep watch over by myself funds. All evaluations on this article are that of my very own.

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