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me Do you use the Plan feature of digibank?
There are many functionalities in the Plan feature of digibank, such as:
- Connect other financial accounts from other banks
- Set budgets
- Monitor goals
- Planning for retirement
and many more...
Which feature(s) do you use? Any comments?
Replies
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I check net worth regularly and refresh sgfindex. Also look at money out frequently. Sometimes will look at map your money to see if any projection has changed.
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Gotta give credit to the 'Map Your Money' inbuilt feature in NAV Planner because it helps me to ground the future with figures that I wouldn't be able to come up with myself.
Under Emergency Savings:
My latest projection is that I am on track to retire at age 62 with SGD 2,000 a month to spend, but this changes quickly just by adding an additional SGD 500 to that projected monthly expense.
Under Protection
- This section still needs beefing up for me. It says I should obtain coverage for Personal Accident and Disability Income.
Under Investment
- Lots of room for growth here! According to our experts at NAV, a good rule of thumb is to invest 50%. What do you guys think about this figure?
Don't forget hit 'Sync now' to enable SGFinDex access to see your CPF, HDB, IRAS and other bank information in NAV Planner as well.
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@getitgt Second this! The 'set budget' feature may be a little hidden, but it's super useful. The rude shock of 'you're over budget by SGD XXX' is also a good wake up call.
For those who'd like to set a budget:
- Log into digibank on your computer or mobile phone
- Click 'Plan'
- Scroll down to 'Your money out for [month]' and tap on this section
- Click 'set Budget' for your preferred categories
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I like the 'set budget' feature! I keep all my spending money in one account (multiplier) and set budget for bills, food, transport and shopping types! I rarely - borderlining on never- use cash so my month-to-month projections are usually on the nose
