Can an Individual Start a Monthly Investment Plan with a Small Amount of Income?

Can an Individual Start a Monthly Investment Plan with a Small Amount of Income?

Investment is a way of saving or keeping your money to platforms that may return higher. But, a lot of people think that investments are expensive or just a waste of money. Where in fact, there are investments that are affordable and might suit your monthly income. There are platforms you can invest from that has no minimum required of investment or has a lower cost. So definitely, you can invest in Singapore with a little amount of money.

Things you might consider before you invest from any platforms

Some people thought that investing could be expensive while some people are afraid to invest a huge amount of money because of scammers. Well if you have second thoughts or any doubts about investments, here you can try the “Regular Share Savings” or RSS. Which is usually offered by banks you can trust. However, there are pros and cons to RSS.

Regular Share Savings or RSS plan is an investment plan which requires you to invest money on a monthly basis. The pros of it is that it allows investors to invest money with no minimum amount required. Unlike with other plans or platforms that require investors to contribute a certain amount of money which either could be affordable or not that causes investors to not invest anymore.

The cons when you get an RSS plan. Investors who invest a huge amount of money, of course, will have a higher chance of getting a huge amount of returns in their capital investment. Also, investors may face higher fees and charges once they exceed the minimum investment amount.

Actually, it’s quite hard to find a secure investment and trusted platforms in Singapore. One of the main reasons why many Singaporeans are afraid to take the risk to invest and just choose to get a loan instead which they think they’ll be able to get sure money.Does starting an investment cost anything?

How much will an investment cost in Singapore?

Below are the lists of the platforms that have guaranteed capital & returns you can invest from when you’re in Singapore. Some investments will only cost you $100 a month excluding the fees and charges, some will only cost $50 a month, and some don’t have a minimum amount required.

POSB/DBS Invest Saver

– you can make an investment in Nikko AM Singapore STI ETF with 0.82% fees and charges and to ABF Singapore Bond Index Fund with 5% fees and charges for only $100 a month. So if you have a stable job and earning a thousand dollars a month, then this will surely fit your budget since it’s not that expensive. However, you may also consider the other charges.

Phillip Capital Share Builder

-you can also invest in SPOR STI ETF Close to 39 SGX- listed counter for only $100 a month. Fees and charges are $6 for 1-2 counters and $10 for 2 counters or more. This may have a lower monthly investment but you might also want to estimate first the charges if they will suit your budget and make some estimations first.

Auto wealth

-you can also invest in stocks and government funds for only $100 a month with an initial investment of $3,000. There are 5% management fees and $18 platform fees per annum. This may have a low monthly investment but it requires a high amount of initial investment so if you can’t afford it, there are still other options to choose from if you really want to invest.

Dollardex

–invest in unit trusts for only $100 a month. It has no fees and charges, unlike other platforms. This is so far one of the simplest ways to invest your money at a low cost.

Endowus

-you may also want to try investing in low-cost portfolios diversifying mutual funds and unit trusts for only $100 a month with an initial investment of $10,000. Fees and other charges will range from 0.25%-0.60% per annum. At first, it will require you a high initial investment and also fees and other charges, but you may consider here where your money will be invested.

If a $100/month investment is still too expensive for your budget then don’t worry because there are platforms that have lower cost and no minimum amount of investment.

Smartly

-requires a minimum investment amount of $50/month. You will invest in portfolios of ETFs. The fees could range from 2% to 8% per annum.

MoneyOwl

-you will invest in dimensional funds and equities with MoneyOwl. The minimum amount of investment with them is only $50/month. MoneyOwl has advisory fees of 65%, platform fees of 18% paid to ifast, and a 3% to 4% fund expense ratio per annum.

Syfe

-they don’t have a minimum amount required for investment, you’ll invest in ETFs. It has a management fee of 65% per annum. This is a good option if you want to invest in the amount you can only afford.

How to get a monthly loan

What is a monthly loan and where can I get it?

While some people are afraid to invest, then there are people who would choose to get a loan instead. Monthly loans are favourable to people who don’t want their weekly budget to get ruined. Bugis Credit offers monthly loan and you may visit their website for more details.

You don’t have to worry anymore about paying your loan on a weekly basis.m The monthly loan doesn’t require any collateral as long as you can repay your loan. Bugis Credit offers convenience to borrowers and you may call them through their hotline or simply visit their website to fill up the application form.

Conclusion

Investments are worth paying for but depend on how you’re going to manage your funds and also how you will choose a secured platform for investment. It will be better if you have enough knowledge of how an investment works. Just always be careful, whether you’re going to invest or get a loan because there are so many people out there who will do everything just to scam people. So be wise in your every decision especially when handling your finances.

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