DBS NAV Planner - Supercharged by SGFinDex
Let’s be real – financial planning isn’t exactly the easiest thing to do. There are a lot of things to consider, your money is usually in a few different places, and don’t even get me started on the maths of it all.
Thankfully, you can always count on smart tools like me – DBS NAV Planner – to do most of the heavy lifting and make it easy for you. Now supercharged by the Singapore Financial Data Exchange - or SGFinDex - , planning your finances is about to get even easier.
All your money in one place
So what exactly is SGFinDex? In a nutshell, it’s a way for you to connect all your financial information from banks, CPF, HDB, and IRAS – so you can get a consolidated view of your financial health easily.
All you have to do is log in to your DBS digibank app, head to the ‘Plan’ tab and connect to SGFinDex via SingPass. From there, it’s just a matter of selecting the bank accounts you want me to consolidate and giving me consent to retrieve your financial information.
You won’t have to worry about the security of your data because SGFinDex is secured with SingPass, and you will have complete control over your personal financial information at all times.
Forget the spreadsheets
Now that NAV Planner is supercharged with SGFinDex, you can pool all your financial information automatically and help you track all your finances, even those from other banks, with just a touch of a button on digibank. That means you can have a complete and comprehensive overview of your finances without all the complications.
No more manual inputs. No more financial statements. No more remembering passwords. Planning for your financial future becomes truly effortless. And we’ve only just scratched the surface of what we can do for you with the power of SGFinDex.
More data, better insights
Now, any bank can collect your financial information and connect your accounts together, but it is what the NAV Planner can do with that data that makes it one of the smartest financial planners you’ll ever meet.
Since its debut in April 2020, it has been using its money smarts to help over 2.2 million customers – and counting – with their financial planning and retirement goals. With SGFinDex, we are excited to help more people – even if you’re not primarily banking with DBS.
With your consolidated financial information, the NAV Planner can then analyse your financial data and offer you a clearer cashflow projection of your income, CPF, expenses, as well as your assets and liabilities to help you spot any potential income gaps you may face 20, 30 or even 40 years down the road.
It’ll even suggest smart ways for you to close those gaps so you won’t have to worry about money and you can just focus on your goals. Whether you’re buying your first home, planning to start a family, or just dreaming of a sweet getaway – you can use the goal-setting feature to add any financial milestones in life and together, we can turn your what if’s into what’s next.
Smarter financial solutions
Having a better understanding of your overall financial health means that the NAV Planner can show you exactly what you need to protect your hard-earned money – even before you need it.
1. Save more than you spend
For starters, you can start saving more by cutting back on your expenses. The easiest way to do that is to track your spending. The NAV Planner can give you insights about your expenses and calculate how much you spend on the different categories, such as dining, transport, shopping - so you know exactly what you can cut back on.
After reducing your expenditure, you can then start working on building an emergency savings fund, consisting of three to six months of your monthly expenses. From there, the next step is to make your savings work harder for you.
One of the easiest ways to do that is to set up a high-yield savings account – like the DBS Multiplier* for example – that offers significantly higher interest rates compared to most ordinary savings accounts.
2. Beef up your protection plans
If there’s anything that the pandemic has taught us, it’s that life can take unexpected turns, so you should always be prepared for a rainy day.
It is ever more important to take care of our health and ensure that we are well protected when a medical crisis hits. The NAV Planner will remind you of the importance of having rock-solid, foundational insurance products that cover you and your loved ones adequately no matter what happens.
Simply key in your existing insurance plans from other providers, and it’ll analyse all your plans to make sure that all your bases are covered – so you can focus on your financial goals and move on to heavier weights like investments, which – contrary to popular belief – doesn’t have to be that difficult or risky.
3. Get investment picks, customised to you
All backed by DBS investments experts, simply answer a few questions and you will find the right investments suited to your risk profile to grow your money.
For example, with a Regular Savings Plan like DBS Invest-Saver, you can start investing with a consistent fixed sum every month. The fixed sum doesn’t even have to be that big – it can be as little as $100 – but over time, and with the power of compounding, you can expect to see financial gains like never before.
This is DBS digibanking
You see, securing your financial future is not just about working hard, it’s also about planning smart. With SGFinDex on DBS NAV Planner, you can now plan even smarter. Mapping your finances can be an effortless affair.
Not on DBS? Not a problem! We can still help you plan your finances and reach your financial goals. What are you waiting for? Supercharge your finances and connect with DBS NAV Planner today.
Ready to start?
Speak to a 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
All investments come with risks and you can lose money on your investment. Invest only if you understand and can monitor your investment. Diversify your investments and avoid investing a large portion of your money in a single product issuer.
Disclaimer for Investment and Life Insurance Products