This article originally appeared on ValuePenguin To the outside world, travelling overseas for business seems to be both thrilling and glamorous. Who wouldn’t like to visit another country on an all-expense-paid trip? But for those who are constantly jetting off on work, the excitement soon wears off. When you are on a business trip, you need to be absolutely punctual – being late for meetings just won’t do. You probably have to juggle several activities simultaneously, leaving you little time for relaxation or sometimes even sleep. How can you then, as a businessperson travelling out of Singapore, make the most of your trip professionally? While each business trip may differ, here are some tips that you may find useful for every trip. Use an airline miles credit card to save on ticketing costs Booking tickets can be one of the most time-consuming and arduous tasks for a professional planning an overseas business trip. Comparing different airlines’ ticket costs and deciding on the most suitable time to take your flight can lead to a very frustrating experience for even the simplest of bookings. This is where using a credit card specifically tailored to take advantage of airline offers comes in. By their […]
Category: The New Savvy
I Just Want a Fair Price: 2 (Additional) Things to Take Into Consideration when You Buy or Sell Your Home
If you know a little bit about property, you will know this: a lot of things affect the price of properties. You already know some of them: location, amenities, condition, neighbourhood, accessibility, timing – things like that. In property buying and selling, (obviously) it will be in the seller’s best interest to sell the property at a higher price for bigger profit, and it will be in the buyer’s best interest to purchase the property at a lower price for a smaller mortgage. So how does one get a fair price (or close to it) that will satisfy both the seller and the buyer? Here are 2 additional things to take into consideration if you want a fair price when you buy or sell your home. ‘Fair’ is Subjective Homeowners will always wear rose-tinted glasses when they look at their properties. They bought or inherited the house. They might have even lived in the house their whole lives. They spent a lot of money over the years for maintenance and fixing numerous wears and tears. They have had immeasurable happy memories in every nook and corner. In short, homeowners will tend to think that their property is worth a lot […]
Money lessons are often hard to integrate into your child’s life when they are occupied with school and homework. Thus, school holiday is the perfect time for your children to take a break and focus on other aspects of their life skills. Why don’t take this chance to guide them on how to manage their money like a grown-up? You can always engage your child in the practice of budgeting despite his or her age. You can either offer a token of money as a reward to your child for helping with the household chores or allow your child to work for someone. The first paycheck is always a means of freedom for your child. Setting a precedent for life, this paycheck is significant as it affects how your child would view money budgeting in time to come. Set a Good Example You can demonstrate financial responsibility by involving all your immediate family members in money management activities. There is no limit to age and it is better to expose your child to the operations of the family as soon as possible. Start by reviewing the family budget together and let your child be aware of the monthly household […]
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After floating around 0.4% for +5 years, 3-Months SIBOR has risen to around 1% by May of 2017. This is because the U.S. central bank began to hike its interest rates since 2015. However, although rates in the US have continued to increase ever since, 3-Month SIBOR has actually fallen recently from 1.2% in March 2016. This could be a rather confusing phenomenon for an average consumer, especially if he is trying to decide if he should be refinancing his home loan before rates to up even more. Will SIBOR continue to be decoupled from the US rate, and even go down more from here? Or will it eventually catch up with the US rates and continue its rise? Here, we breakdown a few facts to help you make a better financial decision. US Rates & SIBOR Have Long-Term Correlation Although you can see from the charts above that SIBOR and US rates have not moved in tandem since 2015, there’s an undeniable correlation between the two rates, especially in the long run. This is because the Monetary Authority of Singapore, Singapore’s central bank, regulates its interest rates primarily in order to control Singapore Dollar’s exchange rates. When US Rates […]
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Stories of Business Built on Passion Many businesswomen who have grown into successful entrepreneurs started out as women similar to you and me. They pursued their occupation. They went on holiday and spent time with family and friends. Most life-changing, however, was the fact that they were passionate about a particular idea or issue. The stories of these women are remarkable in that each of them uncovered her passion and nurtured the spark that was to grow her brainchild into a business. Business Built on a Passion for Relationships Lori Cheek was a romantic individual in search of her soul mate. She would often see interesting and even alluring strangers as she went about her daily business. In each one of those spottings, she wondered whether she was circumventing her potential soul mate since she had always been taught since she was a child not to speak to strangers. One day she observed her co-worker slickly sliding a dinner invitation to a captivating stranger by writing a message on the back of a business card. This is the idea came to Cheek to start the business she called Cheek’d. The concept involved a card designed somewhat like a business card […]
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As entrepreneurs, we have many priorities on our plate. Sadly, we often forget or do not prioritise on business security implementation until it is too late. It is a fallacy to assume that cyber criminals do not target us because of our size. On the contrary, we are becoming one of the more attractive targets for small operations tend to have a weaker security system and larger corporations are pouring a large amount of money into their cyber defence. Starting A Business in Singapore : Hack Your Startup With These Service Providers Let’s look at some threats that entrepreneurs should be aware of: 3 cyber threats that may affect Entrepreneurs 1. Phishing and Spyware Many of our business operations would involve online transactions. Hence, it is common to key in our credentials and credit card details in our computer systems. Such details are most vulnerable if you come across phishing and spyware threats. If we do not understand these threats, it is possible that we have offered our private information freely to a criminal who can use our identities for their benefits. Mobile Services: What You Should Know When You Access Your Online Accounts 2. Viruses and Worms Viruses and […]
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Lock in all Aspects of Your Retirement You’ve been working so hard, earning your own money and hopefully setting some aside in savings. But imagine the situation that paycheck ceases from one day to the next, the day you retire in the far-off future. Now’s the time to start contemplating and organising how you’ll fund your retirement years. With some forethought, it’s easy to set up structures that will see some other forms of income flowing in after your working life is over. The most important thing is to plan now so that retirement can be a time of leisure and contentedness, rather than a stressful period dominated by financial worries. Lock in Income during your Retirement Some ways that you can guarantee an income flow during your retirement include pensions, social security insurance, reverse mortgages and longevity insurance. Organisations often provide pensions as employee incentives that kick in after retirement. A real-life scenario is when an employee is granted a percentage of his or her contributions during his or her working life. These benefits increase the longer the employee stays with the company. Social security insurance is usually provided by the government of an organisation’s home country. To qualify, […]
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If you haven’t taken a course since you graduated from school, it is like exercising. The hardest part is putting on your shoes and going out the door. But since you can get free courses already (and online too!), there’s no excuse to not upgrade yourself. Here is our ultimate guide to free professional courses, and also training funds you can use to offset paid courses. Source: parttimejobssingapore Free Courses There are many free courses you can sign up for online on: Udemy (over 45,000 courses from IT development, to music and design) Coursera (taught by top instructors from the world’s best universities and educational institutions) Udacity (for coding, there are short videos and quizzes, no more long boring lectures hurray!) LinkedIn Learning (free trial for a month and your newly-acquired skills are updated directly to your LinkedIn profile) Khan Academy (courses from kindergarten all the way to adult learning, with partnerships with institutions like NASA and MIT) EdX (founded by Harvard University and MIT in 2012 with 90 global partners including the world’s leading universities, nonprofits, and institutions) LessonsGoWhere (mostly for recreational courses although there are some WSQ courses inside) Paid Courses If you want to scale up from free courses, the […]
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In this recap series of The Future Is Female conference 2017, we delve into one of the panels, Why Insurance Is A Good Investment For Yourself. “You can’t trust anything that you don’t understand. The insurance industry has many channels and technologies that simplify investments into ways that everyone can understand,” -Philipp Kristian, an Innovation Specialist. While insurance is commonly associated with health, it is more than that. If you invest a good insurance policy for yourself, you may just be able to secure your wealth better. Bryan Low, Citi-NIE Trainer, shared a personal example of his late father who had to liquidate his portfolio to fund his medical expenses because he has no insurance coverage. It is an instance that shows the importance of insurance in times of emergency. The baseline for any insurance is protection, but a long-term coverage should include protection for total permanent disability and critical illnesses. Although there are many products available for such coverage, only one in five Singaporeans has subscribed to an insurance that covers all these. Therefore, it is important to encourage your family and friends and yourself to have insurance. Insurance Coverage for Common Chronic Diseases How does an insurance work […]
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Structured Products are gaining traction again even after the 2008 financial crisis. A particular type of Structured Product, called Structured Notes, led to the undoing of many retail investors in Singapore at the advent of the crisis. The public seems to have forgotten the crisis itself because there has been growth in demand for structured products, particularly structured deposits, which somehow offers a guaranteed return of capital, unlike structured notes. What are Structured Deposits? Structured Deposits work like having someone win a card game for you (with money at stake) so that you can win the pot. The deal won’t be on until you put some money down and you can’t withdraw from the bet until someone wins. If your proxy wins, you share the pot. If your proxy loses, you lose a part of your money. Unlike traditional deposits, structured deposits offer variable growth rate, which depends on the performance of any instrument, security, or derivative. For example, if a structure deposit tracks a basket of equities, the structure deposit’s returns increases as the equities perform better. Structured deposits have variable maturity dates. There’s a chance that your structured deposit that has a maturity of 3 years won’t necessarily […]