I really like the NAV initiative… almost up there with strawberry champagne on ice
1. Helps Set Budgets & Track Expenses
Tracking expenses is a big part of this blog. In fact, I have been consistent in publishing our monthly expenses for the past 5 years. That’s about 60 updates so far and this also shows you how much I believe in this habit. Well, whatever gets measured tends to get optimised.
Not surprisingly, I have had quite a few readers asking me which budgeting or tracking app I would recommend. I don’t always have a good answer but right now, there’s a new frontrunner. And the odds are high that you already have this app on your phone.
Drumroll…… It’s your DBS ibanking app (digibank)!
Instructions below
- After you have logged in, you will see that there is a “Financial GPS” tab on the screen.
- Click on that and you will then be greeted with a page that gives you a broad overview of your cash flow.
- Click on view more and you will be directed to this budget page where you can then set your budget and add in transactions that are not already captured by Your Financial GPS.
Since I use my POSB Everyday Credit Card for my utilities and have a bank home loan under DBS, they are all automatically included.
I can then use this feature to set a budget and input transactions to track my spending! It’s simple yet effective. Your Financial GPS can even go a step further and offer tailored financial advice based on your current financial position. This will help you better manage your money and hit your savings and investments target faster!
My screen is blue since I have been a loyal POSB for eons…
2. Personalised Help (and it’s FREE!)
Of course, I do appreciate the fact that setting a budget and tracking your expenses (although very important) is just a small part of personal finance.
There are likely more significant milestones like getting married, buying your first home, becoming a parent and planning for your retirement that you can look forward to as you progress in life.
Since huge financial considerations must be made to navigate through some of these milestones, it’s always helpful to have a listening ear, not to mention objective advice.
A cozy place to achieve financial insights
And this is where NAV Hub comes in. NAV Hub provides free one-to one financial planning sessions. This is especially useful for someone who is new to this area and what’s even more amazing is that no products will be sold to you during the session!
I personally have interacted with a few of the NAV crew and I am confident that they can help you assess your financial health and answer any money-related questions you might have.
Just book a free appointment here.
3. Engages Legit Speakers
If you are not so keen on the above and prefers to sit in a class to hear from someone who’s been there and done that, NAV is also well-prepared.
As seen above, the classes offered range from personal finance topics like “Budgeting For A Wedding to basic investment classes to help kickstart your investment journey.
If you watch the videos here, the speakers are some of your favourite local financial bloggers (namely Chris from Tree of Prosperity, Brian from ForeverFinancialFreedom, Dawn from SGBudgetBabe and Alison from HeartlandBoy).
So you can be reassured again that there is no potential conflict of interest between the speaker and you. Moreover, they also will not be peddling any investment products or courses. It is just pure sharing based on their personal experience and what worked for them.
In fact, on 31st May (Thurs), I will be teaming up with Thomas (BullyTheBear) to share on some ins and outs of getting our first flat. If this is a topic that interests you, you can sign up for the class here.
Thanks for reading.
This article is written in partnership with DBS Bank. I only believe in promoting products and services that I would use myself, and when I believe they are of value to my readers too. The views in this article are strictly mine.
