3 signs that you’ve finally reached adulthood in S’pore

For Singaporeans, the ages of 18 to 21 mark the period when we finally come of age and start to taste independence.

At the age of 18, a young Singaporean can do things like donate blood, book a flight by themselves, finally enter clubs or get a driver’s licence.

In addition, once we turn 21, we can even vote in the general election, get married, as well as buy a BTO, so long as we are in a relationship.

Suffice to say, this period is an exciting time and often, we find ourselves wanting to achieve all of these things before we even reach the age of 21.

There’s just one issue – we need money for all of these things.

Which brings us to perhaps the most important aspect about adulting – making financial decisions.

Being able to budget for that trip/driver’s licence

So, now you want to go and learn how to drive a car or ride a motorcycle.

You realise you need to set aside money for the lessons.

Or you want to plan a holiday with your friends for the first time to JB/ Kuala Lumpur/ Bangkok.

Assuming you have only just started earning a little bit of income, perhaps from part-time work, you will likely end up searching for the cheapest accommodation and flights available on various platforms.

And it’s not a stretch to say that you will find yourself having to choose – do I want to spend on that first-time trip with my friends to KL? Or do I need to delay that trip because I want to start learning how to drive?

Or let’s say you want to spend a night out at a club with your friends. Are there enough of you to afford a table? How much will the entry fee and the taxi fare back home at 4am set you back?

Want to achieve that feeling of independence? You need to learn how to budget first.

Dating/ Settling down

There’s also the fact that the 20s is when many Singaporeans are likely to start dating and get hitched.

This too involves plenty of money-related decisions.

Who is paying for tonight’s meal for instance? Or how much do you want to spend for your next dating activity?

What’s more if the relationship becomes a lot more serious, you might also find yourself planning for the first purchase of your BTO flat – a serious undertaking given that this can involve your first encounter with financial figures running into five digits.

It can feel daunting and perhaps even constrained, when you realise you have to plan for it long-term.

But that’s not to say adulthood must always feel so challenging.

Getting your first credit card - a sign that you have achieved your own financial stability

Perhaps there is no sign of independence that is as definite as owning your first credit card.

Given that most credit cards require a minimum annual income to sign up for, getting one is an indication that we feel stable enough to afford one.

As cliche as it might sound, a credit card is an important milestone on the journey of becoming completely responsible for one’s own spending.

And if you happen to be looking for your first credit card, why not consider the GXS FlexiCard, an interest-free S$500 limit credit card with no minimum income requirement.

Yes, you read that right. The GXS FlexiCard is accessible to everyone, regardless of income.

If you’re just about to start your credit journey, you can do so without the financial stress from high credit card interest rates.

What’s more, this card also provides unlimited instant cashback of up to S$3 for each eligible transaction of at least S$10.

For overseas trips, you also do not have to worry about foreign transaction fees when you use this card as there are no such fees.

You will also get to enjoy competitive rates that are not marked up.

To further accommodate those who may not have regular income (such as gig workers or students who may only work during their vacation periods) bill payments are flexible with the options of either making a full payment, or the minimum payment of S$15 to carry over your balance to the next month when needed.

A Flexi fee of S$5 will be billed during the next billing cycle with no interest.

Neat.

More information can be found here.

What’s more, for a limited time only, new GXS FlexiCard customers who sign up between Dec. 13 and 24, 2024 will receive a S$12 cashback reward, with no minimum spend, no hoops and no cap.

Sign up here to enjoy this reward and more.

For terms and conditions on the GXS FlexiCard 12 days of Christmas Campaign, please click here.

This article was brought to you in collaboration with GXS Bank.

Terms and conditions apply.

GXS Bank is a digital bank owned by Grab and Singtel. Approval of your application is subject to receipt of all supporting documents and further review. GXS Bank reserves the right to approve or reject your application without providing any reasons.

GXS Bank is not affiliated with Mothership. The GXS FlexiCard is provided by GXS Bank. GXS Bank holds a banking licence and is regulated by the Monetary Authority of Singapore.

Terms and conditions apply. For more information and terms and conditions of GXS FlexiCard, visit the GXS Bank website here.

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