Plan your finances with DBS NAV Planner
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DBS NAV Planner
Imagine this: It’s your first day of retirement. You’re sipping on your morning coffee in the comforts of your home. You run through a mental checklist of all the things you want to do with your new-found time – whether it’s travelling more, spending more time with your loved ones, or embarking on a new hobby, the list seems endless.
Every new thought invigorates you, and then you realise – not once did you have to worry about your finances. Now, that is the dream.
While financial freedom sounds good to most, simply mention the words “financial planning” and you’ll find that everyone starts running off in the other direction.
That’s where I come in. I’m DBS NAV Planner, your friendly neighbourhood digital financial planner, and with my wealth of knowledge, expertise and a personal bank of useful tips, you’ll see that mapping out your financial journey doesn’t have to be as difficult or cumbersome as it is often made out to be. With me, you can rest easy knowing that whoever you are, or whichever life stage you are in, you are fully capable of achieving your financial goals.
How, you ask? Well, let’s break it down.
Let’s get to know you better
Before we can figure out how to help you achieve your financial goals, it is important that we assess your current financial health. So in the wise words of Jerry Maguire, SHOW ME THE MONEY!
That means bringing everything together – from your income, cash, CPF savings, insurance, property, and investments to your expenses and loans. This gives you more clarity on your current financial wellness.
It may sound hard to do, especially if you have several financial accounts. But with me, DBS NAV Planner, you can easily pool all your financial information into a single digital platform, even if your accounts are not with DBS.
From there, I will help you keep track of all your assets and liabilities, giving you an overview of your finances at a touch of a button. Beyond that, my digital capabilities will make use of live data to monitor the value of your investments and project their growth rates over time, giving you a clearer view of how your money’s growing so you can make more informed financial decisions moving forward.
Having such a holistic view of your financial situation – in such breadth and depth – will go a long way in guiding you towards your financial goals.
Forget the spreadsheets
Now we know where you stand financially. What’s next? I could tell you to grow your savings with a DBS Multiplier account, start robo-investing with digiPortfolio, or future-proof yourself with the right insurance coverage, but that would be skipping the first and most important step.
It goes without saying that in order to grow your money, you have to make sure you don’t spend more than you earn. So welcome to Budgeting 101.
Budgeting doesn’t have to be difficult. It can be as simple as telling yourself, “I will only spend $X every month”, but I recommend going into further detail and breaking that amount into smaller amounts across the various categories of expenses.
Doing so allows you to pinpoint the areas in which you can adjust your spending habits, so you can optimise your budget and maximise your savings. And don’t worry, I’ll do all the math for you.
With my budgeting features, all you have to do is set up a realistic budget based on your income and general expenses, and I will take care of things from there. From automatically tracking your expenses to sorting out your cashflow into categories like transportation, shopping, and so on, I’ll help you remove the stresses out of budgeting. Over time, we can work together to discern between your needs and wants – helping you save even more.
KISS - Keep it safe, silly
At this point, you have a clear view of your finances and a budget that makes sure that you’re on track towards achieving your financial goals. Feels good, doesn’t it? Wouldn’t it be a shame if some unforeseen circumstances were to come along one day and take it all away?
You see, even with my top-of-the-line financial mapping abilities, there is no way I can predict when something bad might happen. For that reason, it is imperative that you also set up protection plans to make sure you’re financially protected no matter what happens.
Luckily for you, I was also programmed with the smarts to help you assess your protection needs. Based on your financial details like number of dependants, savings, and existing insurance plans, I’ll crunch the numbers and give you personalised recommendations on what types of coverage you should prioritise, and how much you should be covered for.
There’s no need for you to sit through another random coffee meet-up from that friend you last saw 12 years ago. Let me handle your insurance needs for you.
Plant your money tree
You’ve worked hard to make your money, so why not make your money work for you as well? It’s time we talk about investments.
I know, the world of investments may seem riddled with terminology, unpredictability and financial horror stories. Still, investing is one of the smartest ways anyone can grow their savings.
Don’t worry, you don’t have to be a wolf of any street or be Warren-Buffett-rich to start investing. And no, you also won’t have to pore over annual statements or monitor the stock markets every waking minute. That’s what I’m here for.
I’ll help you start small, with robo-investing on digiPortfolio for example. Simply fire me up to get personalised insights, tips, advice and options to grow your money that match your needs. I’ll keep it short and simple, breaking things down into easy-to-understand terms, so you can easily start investing.
If you’re already a seasoned investor, I can give you a bird’s eye view of all your existing investments at a glance, even if they’re not with DBS. With my market price feed feature, I’ll also keep you up to date on how your investments are performing, so you can just check in from time to time to track, review or adjust them over time.
Go with your financial flow
Whatever your financial destination may be, just remember that there are multiple ways to get there. The plans and budgets you make when you’re in your 20s may not apply as you approach your 40s. As we move through various stages in life, our circumstances and priorities might change, and we’ll have to make adjustments to our budgets, investments and financial plans accordingly.
I might be a digital being, but I’ll grow along with you as you progress through life and your financial journey. Whether it’s saving for a new home, planning for your child’s education, or deciding to retire a little earlier, I’ll help you test out every new financial goal you set for yourself and figure out the best way you can achieve those goals.
Apart from letting you make adjustments to your financial plans easily, I’ll also help you make the most of your various money streams as you grow – including those from government schemes like the Central Provident Fund (CPF) and the Supplementary Retirement Scheme (SRS), so you can rest easy and retire well.
This is DBS digibanking
This is how simple financial planning can be with me, DBS NAV Planner. Once you break it down into small, manageable steps, anyone can start planning for their financial future no matter what stage of life you’re in. Add the digital tools that I bring to the table, and it becomes an even easier and hassle-free process. What’s more, it’s entirely safe, so you can rest assured that all your personal and financial data will be kept secure.
I’ll be back with more financial tips in the weeks to come. In the meantime, why not explore DBS NAV Planner in the “Plan” tab of your digibank or iWealth app? You might learn a thing or two about yourself, and perhaps even be surprised with what else I can offer.
Ready to start?
Speak to the Wealth Planning Manager today for a financial health check and how you can better plan your finances.
Alternatively, check out NAV Planner to analyse your real-time financial health. The best part is, it’s fuss-free – we automatically work out your money flows and provide money tips.
Disclaimers and Important Notice
This article is meant for information only and should not be relied upon as financial advice. Before making any decision to buy, sell or hold any investment or insurance product, you should seek advice from a financial adviser regarding its suitability.