Category: The New Savvy

Does Your Travel Insurance Plan Cover Zika Virus?

A year ago, heads were spinning around the world with the news of a mysterious new epidemic infiltrating new borders at lightning speed: Zika virus. Fast forward to today in 2017, and we’re no longer seeing frightening headlines in the news every day; Zika panic has mostly subsided. This is thanks in no small part to the efforts of high-risk areas like Singapore to contain and minimise the risk of infection. But while the World Health Organisation announced the end of the Zika epidemic in November 2016, the threat posed by Zika-carrying mosquitoes has not disappeared. In any case, the Zika crisis of 2016 reminded us all how vulnerable we still are and that we can’t take our personal health and safety for granted, even when on vacation. As you make your travel plans, you may be considering purchasing a travel insurance policy in case you’re travelling to a destination that still may be impacted by this virus or one like it, just to be safe. But does travel insurance even cover Zika virus? Our team at ValuePenguin decided to find out. Does Travel Insurance in Singapore Cover Zika? Don’t Count On It We dove into the policy wordings of

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3 things I wish I’d understood about money a long time ago

Although experience may be the best teacher, it’s also the most expensive – especially in matters of money. It’s far cheaper (if not always as effective) to learn from others’ experience, insight and errors. What follows are three essential money lessons that I wish I’d understood long ago. If these might help you (or someone you know at an earlier stage in their financial journey)… well, that’s time well spent. 1. What will this expense be “worth”… years from now? And is it worth it now? My friend and colleague Peter Churchouse has a fantastic story that illustrates what I mean here. Here it is in Peter’s own words: Not long ago, I bought a 10-year old Jaguar in Hong Kong, where I live. I paid roughly US$6,500 for it. … The first owner paid roughly US$100,000 for this car, back in 2005. So I paid nearly 94 percent less than the original purchase price. The return on investment of the car for the original buyer works out to negative 23.7 percent per annum, on an annualised basis (and that’s ignoring every other cost associated with running the car). Buying a new car – in high-priced Hong Kong or anywhere else – is

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Super Hacks For Cyber Shopaholics: How To Save Money When Shopping Online

Super Hacks For Cyber Shopaholics: How To Save Money When Shopping Online The Internet has provided us with a lot of conveniences; with just a flew clicks or taps, you can communicate with your friend living in the other side of the world. You can meet new people, get a job and do your work, and of course, do your regular shopping.   But many do not know that you can make the most of your time and money whenever you shop online.   Stick to sites with free shipping. Not sure what size would actually fit you? This would not be too much of a problem if you opt for free-shipping online shopping sites. This way, you can buy a certain product in more than one size, try them on, and return those that don’t fit well. Just don’t forget to check out the website’s return and exchange policies.   More than that, that $10-20 shipping fee can be used to buy another item or two instead, and if you do a lot of online shopping, these shopping fees combined could actually amount to a lot more.   If there are specialized online shopping sites that you religiously follow

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How Sophisticated Investors Use Leverage to Boost Their Returns

Warren Buffett, the renowned investor in Omaha, is famous for discouraging people from using leverage to boost their investment returns. However, what people may not realise is that Buffett himself has employed leverage on his way to become one of the richest men alive. If done correctly, leverage is actually not only an effective, but also a savvy investment tool that can increase one’s wealth materially over time. Here, we discuss what leverage is, and how smart investors can use it to boost their returns without exposing themselves to irresponsible amount of risk. How Leverage Works To explain it simply, leverage refers to using borrowed money to invest, in order to boost your returns. For example, you have S$100 of cash that you can invest. Instead of buying S$100 of stocks, however, you decide to borrow S$400 from your online brokerage to buy S$500 of stocks. If the stock goes up by 10%, you can make S$50 of profit (minus any interest you owe on the borrowed S$400) instead of S$10 you would’ve made on your original investment of S$100. Although this sounds like a fantastic way to make money, the reason why Buffett discourages using leverage is that it is a

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What To Consider When Applying For a Mortgage In Hong Kong

What to Consider When Applying for a Mortgage in Hong Kong Before you apply for a mortgage in Hong Kong, it is vital that you conduct a thorough research first. This is one of the biggest loans that you will ever make in your life. You want to make sure that you will approach it carefully and with much thought. Knowing the status of the housing market is a great way to start.   According to an article published in Bloomberg.com, Hong Kong homeowners should brace themselves for a decline in the value of properties in this region. Apparently, home values are threatened by the behaviour of the Hong Kong stock market. Experts believe that the decrease in retail sales, a decline in port activities, and a slowdown in Chinese tourism will affect the housing market in Hong Kong. Add to that the reputation of this region as being one of the most expensive real estate investment – you can see why the housing market is going to experience a downward turn in the next few months.   This data, as scary as it seems, does not have to get rid of your hunger to be a home owner in

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Break The Habit: How to Change Your Bad Money Behaviors

Coming from a family whose members earn really well, we still never really reached the status of being “rich”. Even my mother admits it’s because of their tendency to overspend. They are one of those people who buy the newest iPhone models, constantly go shopping for clothes (both online and in the mall!), and give expensive gifts to families and friends. Whenever I share this to other people, they are surprised by how different I turned out when it comes to money. What I tell them, as I will now tell you, is that bad money habits can be changed! These are not just mere words by financial experts and advisors; it can actually be done if you only be patient and persevering enough to work towards it. What makes change difficult for many people these days is the tendency to submit to the thinking that either you are born with a talent in managing money or not. Others, they think that once they developed bad habits, there is no coming back. However, those are simply not the case. We have 2 good news for you. First, no one is born an over spender. Good money habits are developed, just

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6 Powerful Commencement Speeches by Famous Women

Commencements are among the most valued memories in a student’s life. It marks an end of a period in their life and is a symbol of their achievements. However, some are luckier than most as they are graced with the presence of famous icons who would impart their inspirational message and knowledge to them. Of all these commencement speeches, however, there are truly those that stand out among the rest, and a number of these are made by the most distinguished and highly-acclaimed women in the world. Let us walk you through some of the most inspirational commencement speeches by these ladies from which you can learn a thing or two. Commencement Speeches by Famous Women: JK Rowling in Harvard University, 2008 On unpopular career choices or jobs that seem to be not on demand: “I was convinced that the only thing I wanted to do, ever, was to write novels. However, my parents, both of whom came from impoverished backgrounds and neither of whom had been to college, took the view that my overactive imagination was an amusing personal quirk that would never pay a mortgage, or secure a pension. I know that the irony strikes with the force

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Don’t Let It Bring You Down: How To Change Your Negative Thoughts On Money

Living in a society where money is usually either worshipped or loathed, it cannot be helped that we have thoughts about money that we are not fully conscious about. What we may not recognize is how much such beliefs shape our attitudes and actions towards money. This includes the positive thoughts and of course, the negative thoughts as well. No need to be too hard on yourself; there are actually ways for you to turn such views around to new ones that will work to your advantage. Check out our list of negative thoughts on money; one of them might be the holding you back from achieving your financial goals. Provided as well are better alternatives to such beliefs.   “Money is the root of many problems.” Why it’s holding you back: Those who come from the middle class to lower class or non-entrepreneurial families are made to believe that this is the case, mainly to discourage them from going for the money. However, while it is true that money cannot buy us happiness, what it definitely does it make our lives easier, more comfortable, and more fun. Change this thinking to: “Money solves problems.” The more you think negatively

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Different Ways To Get A Start-up Funding In Hong Kong

Building Your Business: How to Raise Funding for A Start-up in Hong Kong If you want to look for a start-up funding so you can fulfil your dreams to become an entrepreneur, you are in the right place. Hong Kong is second in the world when it comes to female entrepreneurs. According to the article published on the South China Morning Post, there are only 10% female directors in Hong Kong. They are not given much opportunity when it comes to climbing the corporate ladder. If you want to be your own boss, this is not how you will do it. This is probably why women who want to get ahead in the corporate world are opting to strike out on their own.   The study done by BNP Paribas, a French lender, revealed that 45% of entrepreneurs in Hong Kong are women. That places us in second place to India when it comes to female entrepreneurship. So if you had doubts about your ability to become a business owner, you have nothing to fear. This is the perfect place for you to build your business.   Small and Medium Enterprises (SMEs) make up a huge part of the business

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RazerPay vs NETS isn’t the right debate. Encouraging Innovation and Innovators to Step Up is.

There is no doubt e-Payment is the way of the future; its benefits for Singaporeans are unquestionable. The objective has always been to enable Singapore to be a cashless society whether through Nets, PayNow, RazerPay or GrabPay or other contenders. The recent RazerPay proposal appear to have brought hordes of critics out from the woods. While many have praised Min-Liang as an innovator who’s willing to step up to the challenge, the proposal and Min himself have been heavily criticised. Here are some of the shortcomings highlighted: (To be clear, I agree with some of them.) What value does RazerPay bring to the epayments industry? How does RazerPay measure technically? How successful can RazerPay be? Isn’t it just another wallet?  Aren’t there better alternatives? Especially NETS since they are already dominant? RazerPay proposal doesn’t highlight something new. The personal criticisms include:       Min’s just drumming up publicity for Razer’s IPO       It’s simply a marketing ploy       He was being cheeky and did not expect Prime Minister Lee to reply. Things escalated quickly. This begs the question, where is all the resentment coming from? Being an armchair critic is an easy pastime in the digital age. It is, however, alarming to observe how

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