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Frequently Asked Questions

General

What do you mean by “financial wellbeing”?

Financial wellbeing, or wellness, can mean many things to many people. One definition (from the Consumer Financial Protection Bureau of the US) is "having financial security and financial freedom of choice, in the present and in the future" which is quite good. To us, the physical health analogy suggests that your financial wellbeing is more than just a lack of illness, but something that can and should be optimized. This is what we are working towards with Limitless: a better and brighter financial future for everyone.

Who is Limitless Singapore?

Limitless Singapore is the trading name of Spendolater Pte Ltd, which was founded in Singapore in 2016 by an investment industry veteran and a startup specialist entrepreneur. Originally producing software for banks to address the saving and investing needs of Millennials, the company pivoted to focus on financial wellbeing and promoting financial literacy in Singapore and around the world. Limitless is proud to be a founding partner of the MAIAs, the Money Awareness and Inclusion Awards.

Are you regulated by the MAS or any other central bank authority?

Because we are not providing financial or other professional recommendations or advice, Limitless Singapore is not required to be regulated.

Why do I see exercise, sleep and other non-financial content in the app?

We believe that financial wellbeing cannot sustainably exist without physical and mental wellbeing as well. We believe that they each have an impact on one another and that a holistic view of all three is important.

Is the Limitless Financial Wellbeing App free to use?

Yes, the app is entirely free to use -- so encourage your friends to download and sign up!

How does Limitless Singapore make money?

We make money by having financial consultants and insurance agents subscribe to be on our platform so that they could potentially find new client relationships among the users of the Limitless Financial Wellbeing App. We may also make some money from other financial and non-financial partners on our platform.

Do you get a cut when agents sell insurance to your app users?

No, we do not.

Do you encourage all app users to buy more insurance from the agents on your platform?

No, we do not. We provide balanced, impartial information for the users of the app. Insurance can be a very important part of the financial health of an individual or a family, but everyone has different needs.

 

Personal Data

Do I have to fill in all my financial data to use the Limitless Financial Wellbeing App?

No, you do not have to fill in any financial data to use the Financial Wellbeing App. You can access all the articles and videos just by registering. However, if you think you would benefit from the MoneyFitt tool to help you prioritize what to do right now, with explanations why and the tips you need to make it happen, then that would need your numbers.

Do you sell my data?

No, we do not sell your data. All the financial data you have shared with us is used exclusively to generate prioritized action.

Is my data secure?

Your data is absolutely secure. We are fully PDPA and GDPR compliant and we have bank-level security to keep it all behind! And of course, you can easily erase all your data should you wish to.

 

MoneyFitt

What’s MoneyFitt all about?

MoneyFitt is a tool within the Limitless Financial Wellbeing App to help you prioritize what to do right now, and gives you the reasons and tips to make it happen. We know that there are a million opinions out there (more!) and we can’t focus on everything all at once! You pass us your data (all 100% securely).

Is whatever I keyed in stored properly?

Yes, we are fully PDPA and GDPR compliant and use bank-level security. That data is SAFE!

How do you guys use the data we key in for MoneyFitt?

We have kept the amount of data you key in as little as possible, but try to use it in a way that can come up with actionable insights for you, all backed by solid research and experience. In many cases, we use ratios based on the numbers that you give us to help you understand where you really stand financially and then give you back the information you need in a way that will help you to make up your own minds on what to do next.

Why did you choose to focus on the five areas that we see in MoneyFitt? (Spending, credit card, emergency fund, protection/insurance and investment.)

There are, of course, many measures of financial wellness that we could look at, but we have narrowed them down to what we believe to be the five most important. All are important, but it is important to prioritize which to address first so that the rest can follow more effectively. Basically, make a start on getting these five right to get on the right path.

Can I be "perfectly MoneyFitt" and then never have to look at your app again?

We would be sad to see you go, but yes, you can... especially if you follow all our guidelines for how to get there and build a solid foundation of habits to stay there! But the reality is that financial wellness is a lifelong journey for most people, just as it is for physical fitness and physical wellbeing. Needs change, lives develop in unexpected ways and the world of business and economics is constantly evolving. We want to be there with you to give you clarity and sanity in what can sometimes seem like a wild and crazy world to help you to a brighter and better financial future.

Will there be more features coming to MoneyFitt?

ABSOLUTELY! Watch this space and you will see many exciting new features debut on your MoneyFitt app in the months to come, including specific tips and additional data-driven food for financial thought! And do let us know at feedback@limitless.app what you would find most useful as well!

 

Content

Where are all the articles and videos from?

Our articles and videos are mostly from our crack team of talented writers. We also have interesting, top-quality pieces from specialist partners and other third-party providers that we curate carefully and think will be interesting for our app users. We may not always agree 100% with them, but we believe that a diversity of opinions enriches us all! (Of course, our intensive vetting process means that we would never put out anything that was clearly poor advice, misleading or outright wrong.)

How do I know that the information you give me is correct?

Limitless carefully vets all content whether our own or from our trusted friends and partners but cannot guarantee 100% accuracy. If you see anything that doesn’t sound right, it would be wonderful if you could reach out to us and we will investigate and make the appropriate corrections.

What do I do if I think your facts are wrong or the recommendations are bad?

Talk to us! 👂 We’re all ears! Our content is all thoroughly researched and reviewed, but of course, errors can be made, and opinions will differ. Please note also that all our content is intended to be used and must be used for informational purposes only and should not be relied upon as financial or other professional advice.

What are the Quiz Points for?

Quiz Points are a great way to track how you've been doing on your learning journey! We award points for answering questions correctly, of course, but we also award points for answering them wrong! Why? Because it's all part of the learning journey to greater financial literacy and, if you take action, a better and brighter financial future! (Before you ask: You get fewer Quiz Points if you get the wrong answer!)

Can I redo the quizzes?

This is currently possible only when you are in the relevant article, but will be added later.

How do I review answers from past quizzes?

This is currently possible only when you are in the relevant article.

Can I just watch the videos to do the quizzes?

You can find the quizzes at the end of the accompanying articles. Most of the main messages will be in the video, but sometimes the quiz questions will refer to parts of the article that did not make it to the video. But give the questions a try anyway! You could learn something extra!

 

Tell Me More

Does the “Tell Me More” button take me to your own staff?

The TMM button takes you to our partners, who are perfectly qualified to tell you more about the subjects that you are interested in, and assess the suitability of their own products and services for you. They will give you the most appropriate advice, but you are under no obligation to buy anything from them.

How do I know that the information you give me is correct?

Limitless carefully vets all content whether our own or from our trusted friends and partners but cannot guarantee 100% accuracy. If you see anything that doesn’t sound right, it would be wonderful if you could reach out to us and we will investigate and make the appropriate corrections.

Since this is a financial wellbeing app, why isn't everything 100% digital?

The Limitless team is working to give you the best and most impartial online information possible and to help you take action in the most efficient and effective way possible - sometimes that can be self-directed and other times that would include speaking to a real human being with a pulse!

Am I being charged to approach an agent?

No, you are not. Users of the app are not charged anything by anyone. Agents subscribe to the Limitless Financial Wellbeing App in order to be selected by you in the hope that the advice they give you is good, relevant and timely enough that it will result in business for them either straight away or sometime in the future.

 

Settings

If I have feedback about the app or the content, or spot a bug, who can I tell?

Tell us! Reach out using the Contact Us button or simply send us an email to feedback@limitless.app