Category: The New Savvy

Six mid-year investment resolutions for a richer H2 2017

We’re now halfway through 2017… and many of us have given up on the self-improvement goals we made at the start of the year. But there’s one goal you can still achieve this year: Making yourself richer. Here are 6 mid-year (why should resolutions only happen at the start of the year, anyway?) investment resolutions that will still make you wealthier through the last half of the year. Resolution 1: Learn to love money If you want to be richer, you need to like money. If you think having a lot of money makes you selfish or greedy, then you’ll probably never become rich. The less you like money, the less money you will likely have. An aversion to money – whether conscious or unconscious – will stop you from getting rich. The biggest hurdle to becoming wealthy is that voice in your head saying money is bad. Ask yourself the following questions, to find out what you really think of money: Is money the “root of all evil?” Does making money take too much time and effort? If I want money too badly, will other people think I’m shallow? Is it bad to think money can buy happiness? If you answer “yes” to

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Are Taxi Rides to Changi Airport Ripping You Off?

This article originally appeared on ValuePenguin Changi Airport is one of the biggest airports in SE Asia. In fact, it ranked as the 17th biggest airport in the world, with 60 million annual passengers passing through in 2016 compared to just 5.6 million people living in the country! While this is mostly because Singapore serves as a transfer hub for people travelling through Southeast Asia, it is also because Singaporeans love to travel. If you frequent Changi Airport, however, you might be surprised to find out that Taxis have been ripping you off on your taxi fare to the airport. Taxi Fares to Changi Airport Changi Airport’s official website states that a taxi ride between the city and the airport should cost around S$20 to S$40, depending on the time of the day and your destination. When we actually estimated the fare between the airport and various parts of the city, we indeed found this to be true. A taxi ride to Bedok, for example, should cost around S$18, while a ride to Jurong could cost about S$37. Given that you probably have a lot of luggage, and a long flight ahead (or just had a long flight), spending S$20

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6 Best Travel Hacks for Backpackers

This article originally appeared on ValuePenguin Traveling overseas can be one of the best ways to learn about different cultures and to expand your perspective. Being in an unfamiliar environment is also a great way to get to know yourself better. At the very least, the people that you meet and the sights that you see will leave you with indelible memories that you will treasure for years. However, many Singaporeans are hesitant about taking that overseas trip. What holds them back? The expense is definitely a consideration. To a lesser extent, many individuals are reluctant to travel as they are unsure about how they will cope in a strange country where they do not know anyone. Backpacking provides an option for those who want to travel on a relatively low budget. You will have to fly economy class and give up most of the luxuries associated with foreign travel, but you will get to see and experience many new countries and people. For those who are planning to go on an extended backpacking adventure, here are some tips that you could find useful in your travels. Look for Air Tickets Online on “Private Browsing” or “Incognito Mode” Travel costs

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4 Easy Tips to Build a Good Credit

Credit is prevalent in our daily life now. From buying of movie tickets with a swift paywave transaction to purchasing of your dream home with a mortgage, credit is used. When speaking of credit facilities, urban dwellers like you and I would find them familiar, holding at least a credit card, car loan or mortgage, just to name a few. Just in the recent year of 2016 alone, over 1.7 million credit applications were made. (CBS Consumer Credit Index) Having a good credit score is an important part of your financial life. A credit score is a number that indicates the probability of an individual going into a default. It is an independent assessment of the individual’s risk as a credit applicant, and how likely he or she is to repay his debts. Banks and lenders love consumers with good credit score. If you have a good credit score, it will be easier for you to obtain credit and help you to achieve the many financial milestones in your life, such as owning your dream house or starting your own business. Here are 4 easy tips that can help you in building a good credit score. Get your credit report

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5 reasons why Singaporean Millennials Like to Rent instead of Buy Property

If you were born between 1980 and 2000, you belong to the Millennial Generation. The youngest of you will be turning 16 this year while the oldest of you are around 35. If you are unmarried, a lot of you are likely to be living with your parents. And by ‘a lot’, we mean a solid, almost-majority figure of 97%, according to a 2013 survey by the National Youth Council. This makes sense – in Singapore, it is considered a cultural norm for children to move out only after getting married. We don’t have the ‘move out once you turn 18’ culture like the West. It is a norm to have three – even four – generations living under one roof. However, did you know that many Millennial Singaporeans rely on AirBnBs to ‘escape’ from their families? According to the article, AirBnb has 600,000 Singaporean customers (out of 5.47 million population!), many of whom are young professionals who use the service to book accommodation to have a bit of privacy with their friends or lover. Why would Singaporean Millennials rent? Why not buy property instead – you can get your privacy and an investment. Let’s explore 5 reasons why Singaporean

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4 Types Of Credit Cards In Hong Kong and How to Choose the Right One

Tips for Choosing the Best Hong Kong Credit Card for Your Lifestyle The use of credit cards in Hong Kong is on the rise. According to an article published on the website of Payments Industry Intelligence, this is the leading payment tool that consumers in this region use. It is believed that this trend will continue to rise until 2019. The volume of credit card transaction in Hong Kong is expected to rise to 547.3 million in 2019 – a far cry from 483.1 million in 2015. The article revealed that the growth in the use of credit cards in Hong Kong can be attributed to the security and the preferred lifestyle of consumers. After all, use credit cards can be quite convenient. With the various shopping opportunities in this region, it is troublesome to carry cash around. It is also not safer. You have to understand that when you lose cash, you lose it forever. When you lose your credit card, you can call the issuer and ask them to freeze your account so no one can use it. These factors make it logical from consumers to prefer credit cards as their primary payment tool. What are the different

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Legal rights in Divorce in Hong Kong: 5 Step Process and Monetary Costs

Legal rights in Divorce in Hong Kong: 5 Step Process and Monetary Costs It seems there will be a surge in couples finding out about their rights in divorce – at least if the trend holds true. According to the statistics published on the South China Morning Post, the divorce rate in Hong Kong increased fourfold in a period of 22 years. From 6,295 back in 1991, it grew to 22,271 in 2013. The experts believe that this increase is caused by the lifestyle and values that couples have in this region.   Apparently, lifestyles are quite tense and the small houses that people live in are not helping. Since living conditions are tight, couples do not have enough freedom and experts believe it is causing them to argue more. Individuals continue to pursue their own interests – especially women. This is wreaking havoc in the marital conditions in Hong Kong. Sometimes, the pursuit of material success is leading couples away from each other.   Of course, some people still believe in the value of marriage but the fact and statistics reveal that divorce will continue to be a part of society. This is why you need to be aware

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How Much Should Your First Home Cost?

This article originally appeared on ValuePenguin You’ve been working for quite a few years, saving money to buy your home one day. You are getting married, and now you’ve finally saved enough to make it happen. However, with homes easily costing close to a million dollars or more, you won’t be able to do it without the help of some bank financing. But, how much should you really borrow? While it’s rather easy to figure out how much you are allowed to borrow by the government and banks in Singapore, it’s a whole another issue when you are trying to assess how much home loan you should be getting. If you are one of those people, this guide can help you get started in getting to your answer. How much should you expect to pay for your home? In order to help you understand the approximate cost of a home these days in Singapore, we collected the median price of 4-Room HDB Flat resales by town. According to the data released by the Housing & Development Board, you can expect to pay anywhere between S$350,000 and S$900,000 for a 4-room HDB flat, depending on which town you are residing. Given

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5 Tips for Saving Money For Dining Out in Singapore

This article originally appeared on ValuePenguin One of the reasons Singapore is considered among the most cosmopolitan cities in the world is the sheer number of different cuisines and food options it has to offer. With many of these establishments run by people from several countries, it’s safe to say that dining out in Singapore can prove to be a very satisfying experience. However, fine dining can be an expensive hobby for just about anyone, and most people can afford it only a few times a year. But, there are ways to make your fancy meals more affordable with a little bit of planning. Here are some tips you can use to avoid emptying your wallet on a single meal. Use Reservation Apps Choosing the restaurant to visit is one of the most important parts of dining out. Most – if not all – of the best-known restaurants in Singapore specialise in one particular cuisine, whether it’s the antipasti at the Italian-focussed Fratini La Trattoria or the pan-Asian brunch at Colony. As mentioned above, there are thousands of eateries in the city, with potentially limitless menu options. To help you choose a great option that won’t break your bank, it’s […]

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Basic Rules For Using Credit Cards In Hong Kong

Using credit cards in Hong Kong is a common practice – especially among Millennials. According to an article published on EnterpriseInnovation.net, Hong Kong residents between the ages 18 and 28 own at least 2 credit cards. This is considered to be the highest card ownership in the Asia-Pacific region. The exact ownership is 2.6 – which is more than the 2.1 credit card of Singaporeans – who come in second. This data came from the study conducted by Visa in different countries in Central Europe, Middle East and Asia-Pacific. According to the study, the main motivator for credit card ownership is the discount that Millennials can get. It is followed by the convenience of being able to shop without cash and through on-line portals. In Hong Kong, 40% of on-line purchases are paid through credit cards. How to use credit cards wisely There are so many benefits to using credit cards but before you can enjoy them, it is important for you to understand the basic rules that will help you use it wisely. The thing about credit cards is that it can tempt you to spend more than what you can afford. It feels like an extension of your […]

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