Category: The New Savvy

3 Ways You Lose by Not Using a Credit Card in Singapore

Peer pressure is never a good reason why you should do anything. However, when everyone around you is doing a particular thing that you are not doing, there might be a good reason for at least start considering if you should be doing the same thing. Using credit cards is just one of them, especially for people in Singapore. According to the MasterCard’s Mobile Payments Readiness Index, Singapore ranked as the most “mobile payments ready” country in the world with a very high penetration of credit cards. But why are credit cards so popular in Singapore? Although some may think it’s about convenience, there are actually real economic and financial reasons why you should be using credit cards instead of cash. Embedded Processing Fees In Prices First off, while some cash only vendors don’t engage in such practice, most places and things embed the cost of processing payments within their prices. This cost is called the “interchange fee”. When you make a payment with your card, your bank has to send your money to the merchant’s bank, and all of the companies involved in making this payment go through collectively charge fees that amount to this interchange fee. While this […]

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What Types of Funding Options are Available for Companies?

Every business needs capital for development, growth, and expansion. Whether it is a start-up business or a relatively established company, fresh funding allows a business to scale up operations and hire more employees.  The business may also purchase more tools and resources, invest in research and development and more. Why is fundraising important? Sometimes internal funding is not a viable option. This is especially so if the business has not begun to bring in adequate or stable profits. Business owners often turn to external funding from interested investors. There are two main funding options when it comes to raising funds externally – equity investments and debt investments. Funding in Singapore – Seed Capital, Series A, B and C Equity Investments – Shares Equity investments are basically shares or stakes in a company. Investors can buy into a company. The capital investors put into the company enlarges its equity. It also enables investors to receive a cut of the profits that the company declares (i.e. receive dividends). The return to investors depends on how well the company does in terms of revenue and profits. There are two types of shares companies can issue – ordinary shares (also called common or normal […]

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How Outsourcing Can Help You And Your Business To Be More Efficient

Outsourcing, when done right can be amazing. It frees you up from the tasks that require the most time, and lets you do the other tasks that are somewhat more important, like networking and sourcing for opportunities to expand your client base. Contrary to popular belief, outsourcing can help boost your income much more than the expenses incurred paying the outsourced help. Have you ever seen an entrepreneur with a lot of free time? If you have, the chances are that while that entrepreneur owns their own business, a majority of their clerical and support teams are outsourced and not done by the entrepreneur themselves. This gives them the freedom and time to do what they want while giving others a job. It’s a win-win situation for both parties! We’ve identified a few reasons why you should also outsource when you can! Identifying time consuming (and the dreadful) tasks. One reason for outsourcing work is simply to cut down on the more time-consuming tasks. For example, typing a long essay or article can often take days, more so if you’ve to type more than one. A team or a competent typist can typically do it in much less time, which […]

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5 Secrets of Working in Singapore You Didn’t Know

If you are working in Singapore, Labour Day (aka May Day), is more often perceived as a holiday to rest and relax. According to gov.sg, Labour Day was gazetted as secular public holiday in 1960. It is a day of rest to honour everyone that has worked hard to make Singapore a successful nation. In 1960, Lee Kuan Yew announced the government’s commitment to the welfare of workers. He emphasised that a symbiotic relationship and confidence between the unions, employers and the state (known as tripartism) was imperative for Singapore’s progress. One recent product of tripartism in action is the opening of the Tripartite Alliance for Dispute Management (TADM) to provide advisory and mediation services for salary-related disputes. Here are 5 other secrets about working in Singapore you may not know, until today. 1. Strikes aren’t illegal in Singapore, if planned properly While many parts of the world are already in strike-mode, Singapore seems to take it easy. The last strike we had was the illegal strike by SMRT bus captains in 2012. The last legal strike was the Hydril workers’ strike in 1986. It is possible to still hold a legal strike in Singapore today, provided you go through the […]

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Healthcare Needs By Age – Analysis Decades By Decades

Recalibrating Healthcare Needs as You Age Like any other piece of finely tuned equipment, the human body needs maintenance and care throughout its life. Also like any mechanism that is continually encountering various stresses and having to perform new functions, the type of maintenance the human body needs will change over time. Childhood and early youth are the time of quickest growth and development, and from around the beginning of one’s 20s, every adult needs to perform some routine health inspection. Some introspection into one’s health-related habits wouldn’t be out of place either. Healthcare Needs in Your 20s You may not realise that when you hit your early 20s, your lifestyle will already impact the quality of your health for the rest of your life. How you lead your life in your 20s will have a significant effect on the quality of your life in old age. This particular decade can be a golden opportunity for you to create a strong foundation for a secure and happy life in your later years. First of all, it would be wise for you to obtain insurance coverage earlier in life rather than later. When you’re in your 20s, there will be a […]

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5 Efficient Online Workouts To Try At Work and Save Time

Worthwhile Online Workouts at Work Exercising regularly requires commitment and time. Most of us can muster up the commitment, but there’s no way to pull several hours out of thin air if workplace and personal obligations don’t allow any time to go to the gym. If you’re one of those people who spends many hours every day on site at your workplace, don’t despair. There are plenty of good online workout videos available that will get you moving towards fitness. Think of using your lunch hour, coffee break or even a few minutes once you put down your pencil at the end of the workday to explore and try some of these routines. Worthwhile Online Workouts at Work – Hang Out with the Sun This online workout is easily found on Kristin McGee’s webpage. It is ideal to consult at work but does require some open space under an emerging morning ray of sunlight. The yoga instructor demonstrates a sequence of yoga positions twice for your convenience. This two-minute workout routine will energise you and refresh your mind every morning, making you more flexible and better able to concentrate on your office tasks throughout the day. It’s best to try […]

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What Science Says About How You Should Use Credit Cards To Be Happier

What Science Says About How You Should Use Credit Cards To Be Happier Some people say you can’t buy happiness with money. But such a blanket statement rarely holds true without qualifications. In fact, in many situations, money can definitely get you a lot closer to happiness. Decades of research have shown that, while money in of itself does not cause happiness, how you spend money can indeed have positive effects on your psychology. In Singapore, credit cards are widely accepted and are effectively equivalent to money. Not only that, credit cards can be even better than cash as they can often earn rewards for people in form of cash back or airline miles. If you’re already getting the best dollar value out of your credit card rewards, here are some research-backed ways you can squeeze more delight out of your next redemption. Sure you can’t redeem credit card rewards for happiness, but they can definitely get you a lot closer. It’s science. Make Other People Happy It is scientifically proven: giving is better than receiving. According to a study from Stanford, the most satisfying way of using money is to “invest in others.” The term “invest” here is used […]

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High-Tech Wearables To Invest In To Spice Your Wardrobe Up

Add High-Tech Wearables to Your Wardrobe Some amazing technological advances have revealed themselves in the past few years. In the meantime, some very high-tech gadgets have also become fashion statements – even going so far that they are worn on the body as an accessory. But very useful accessories they are, as many can help with organising your time and, ultimately, your daily life. Why have High-Tech Wearables become so Popular? As 21st-century citizens, we rely on technological devices to thrive in a highly competitive and challenging world. The combination of stressful responsibilities and workload can dilute our enthusiasm and love for good fun. It’s no wonder we’re constantly on the lookout for shortcuts that help us manage a load of responsibilities while simultaneously enjoying our lives. This is where high-tech wearables are coming in. These wearables enable us to complete most of our essential duties effectively and efficiently. At the same time, they also fulfil some of our essential needs and wants. Everyday consumers want to invest in wearables that make various significant aspects of our lives – like networking, fitness, messaging, healthcare and security – easy to manage in the midst of all our busyness. Why Invest in […]

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The Art of Attracting Customers: 8 Things Women Wish Retail Stores Would Do

Is retail dying a slow death in Singapore? Even Singapore’s famous shopping district, Orchard Road, has seen its vacancy rates hit 8.8% in the first quarter of 2016. This is the highest vacancy rate seen in five years, which is higher than the island-wide average of 7.3%! Suburban malls, online shopping and improvements in last-mile delivery services have threatened the existence of brands operating in brick-and-mortar shops. The government has rolled out the Retail Industry Transformation Map which recommends how retailers can remain competitive in an increasing disruptive landscape. Source: Spring Singapore Among leveraging on bigger initiatives to revitalise the retail industry, such as pedestrianising Orchard Road, pop-up events and themed activities such as the Star Wars festival, what else can retailers do to save their flagging businesses? I attended a Visual Merchandising masterclass organised by e2i (the Employment and Employability Institute) with participants in the retail trade. Photo: Andrew Tan’s Visual Merchandising Masterclass We learnt tips from Andrew Tan, the Singaporean who brought in Japanese products with craftsmanship, heritage and a high level of sophistication to Singapore. Source: Actus by atomi Besides operating his own store atomi at Mandarin Gallery, Andrew and his Japanese wife Mitsuko Murano, also helps retail stores such […]

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