Category: The New Savvy

Top 5 Reasons You Should Install An In-Car Camera

This article originally appeared on ValuePenguin You may have noticed in recent years that people have begun to install cameras inside their cars. At first blush, these gadgets, which can cost as little as S$30 and as much as around S$1,000 plus the price of installation, may seem like just another method of parting you from your hard-earned cash. However, our team at ValuePenguin think they are a smart investment that can save you hundreds, even thousands of dollars in the long run. In the following guide, we’ll walk you through a list of reasons why installing an in-car camera, also known as a dashboard camera or “dashcam,” is well worth the cost. Installing a dashcam can save you thousands in the long run. 1. Save on your car insurance premiums One of the most direct ways you can personally benefit from installing an in-car camera is by potentially saving on your car insurance premiums. Some insurers will offer a discount on their premiums to new or renewing customers who have a camera installed. DirectAsia, for example, will discount your premium by 4% for having a dashcam installed in your car; United Motor Insurance’s Unidrive plan offers a discount as […]

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Salary Negotiation : Steps To Maximise Your Career’s Worth

Salary Negotiation: You’re Worth it Asking the boss for a raise or discussing remuneration with a prospective employer can be a daunting idea. The thought of pushing yourself into the spotlight and assigning a monetary value to your skills gives some employees stage fright, while job-seekers are fearful that a job offer will slip through their fingers if they ask too much. Such jitters are unfounded! All you need is to learn the steps for successful negotiation and apply them in an objective discussion with your boss or employer-to-be. Most bosses are prepared for such discussions, so don’t be afraid to grab your opportunity. Preparing For Your Salary Negotiation Market research Researching the market’s current rate for the salary range of your particular position is highly recommended. In fact, this should be your utmost priority! You need to clue yourself in on some reasonable parameters because requesting an excessive income could ruin your reputation, give the impression that you are money-grubbing and maybe even make you appear immature. On the other hand, asking for too little would devalue your skills and leave you treading water on developing the best possible lifestyle for yourself. Along with the salary range, research your […]

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Beware Of These Overspending Trigger – What Are Yours?

What are YOUR Overspending Triggers? Overspending can happen quickly when you least expect it. There may be some concealed triggers that are pulling you this way and that, with the end result that your behaviour jumps the fence to overspending. Resisting the pull of these triggers can be simple and is often accomplished with a few smart strategies. But first and foremost, you need to identify your own personal overspending triggers. Get to know yours! Your Possible Overspending Trigger #1 – Emotions Everyone can get carried away by their emotions, and, as social stereotypes may tell us, especially so women. Emotions such as feeling blue, being angry, bored or frustrated are those that may specifically trigger overspending. The amygdala part of the brain is the emotional control centre that overrides the prefrontal cortex (the sector that deals with logic and reality) when you’re shopping. In addition, it’s a natural human tendency to try to compensate for experiencing feelings that a person knows she doesn’t deserve to feel. To prevent emotional overspending, take some concrete measures to ensure that you don’t indulge on anything lavish. Circumvent your perception of happiness that’s derived from materialism to start thinking about your happiness derived […]

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Why You Should Not Hoard Your Credit Card Rewards

It is a well known fact that credit card in Singapore are extremely generous compared to other international markets globally. For instance, the best cash back credit cards in the US provide 1.5%-2% reward rates, while the UK market is even worse with most credit cards being simple balance-transfer cards without much benefits to speak of. In contrast, the best credit cards in Singapore easily provide 5% or greater rewards in cashback, miles and discounts. Given this, card users in Singapore have built a habit of hoarding a bunch of credit card rewards, mistaking them for a war chest that they should be saving for the off chance they might need to use in the future. However, this is a financially inefficient behavior. Credit card rewards are not like savings accounts or holographic Pokemon cards that grow more valuable over time. Instead, they almost always lose value. Various loyalty programs are great for earning perks and saving money, but they aren’t the best place to keep a small fortune. In fact, the longer you sit on your stash while saving for some far-off dream vacation or emergency, the more you expose yourself to risks like inflation, devaluation and reward forfeiture. […]

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5 Ways to Enjoy Saving Money & Not Think Of It As A Chore

Happy Saver: 5 Ways to Enjoy Saving Money We get it – saving can be challenging, sometimes too difficult. The conflict between saving and spending is almost always there, especially today when temptations are all around us. It is further intensified by the idea that we have to make the most of the now, but at the same time, not wanting to be unsecured for the future once you retire. So how can you beat the difficulties of saving? Here are 5 ways to enjoy while you are saving money. Set goals. One of the best ways to keep you on the right track is to remind yourself of your main goal. This is because our goals serve as our motivation to face the difficulties along the way. Why did you spend all those hours in studying a subject you did not like back in high school or college? Because you had a goal to pass that subject in order to achieve your main goal of finishing your studies. Why not use the same strategy when it comes to saving? Ask yourself: Why am I saving? Financial Success : Actions Your MUST Take Every Decade & Age While most of […]

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This Credit Card Mistake Is More Damaging to Singaporeans than to Americans

Credit cards and personal loans often come with a concept called “minimum required payment.” This refers to the smallest amount you have to pay to your bank in order to avoid being charged late payment fees, usually ranging from 3% to 5% of your card balance. While a lot of people believe it’s okay to just pay this minimum amount, this is actually a myth: minimum payment requirements are actually very costly mistakes, especially for people in Singapore. While it could help you avoid paying late payment penalty fees, minimum payment requirements do not exempt you from paying interest on the rest of your card’s balance. Therefore, even if you pay 5% of your balance that’s required, you will have to incur interest on the 95% that’s still on your bill. Without understanding this, however, many Singaporeans are suffering from committing this mistake over and over again. Higher Interest Rates in Singapore than in the US What’s important to understand is that it is way costlier for a consumer in Singapore to believe in the minimum payment myth than it is for a consumer in the US. For one, the average interest rate for credit cards is only about 14% […]

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Keep a Cap on Spending that First Salary

Taking A Holiday With Your First Salary  Starting your first high-scale job after receiving your degree is one of the best feelings in the world. Getting that first official paycheck is exciting and motivating. However, with greater fiscal opportunity comes greater fiscal responsibility. Don’t blow all your money at once! Sure, you want to travel and see the world. But remember to adopt a sensible financial outlook and cultivate a lifestyle that encourages you to look ahead to future goals. Then you can happily watch your dreams turn into reality! It’s all about planning, and that starts with getting your routines in order. Keep a Cap on Spending that First Salary by Sticking to Your Budget Your first salary can vanish in the blink of an eye if you aren’t careful about how you spend it. If you consistently overspend, you will not be able to enjoy travelling while you are young and full of vitality. This alone is a good reason to decide to come up with a small budget and to stick to it. Your money in excess of your budget should be put in your savings account for long-term plans such as future security and luxurious holidays. […]

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Understanding Long Term Investment: Real Estate and REITS ~TFIF 2017 Series

In this recap series of The Future Is Female conference 2017, we dive into one of the panels, Real Estate And REITS: Diversifying Long-Term Investment Portfolios “Are REITS seen as an equity or a property investment?” Timothy Ho, Managing Director of Dollars & Sense, asked. David Kuo, CEO of The Motley Fool Singapore, built on the question and established the four asset classes that can be invested in for the audience. He also shared his own take on what REITS is. “The four asset classes in accordance with risk are cash, bonds, properties and shares. So you have to ask yourself which one of the four does the REITS visit? As far as I’m concerned it is a share, although some people say that it can be a bond because there is a yield, and some people say that it is a property investment.” Quoting an article from the Business Times, Timothy shared that the Singapore’s REITS offer refuge in terms of market uncertainty. However, he pointed out that retail investors should also look out for volatility though REITS may offer a safe choice. Roy Ling, Trainer at SGX Academy, decided to approach the question from an interest rate perspective. “As […]

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Why This Credit Card Myth is Costing Singaporeans Hundreds and Thousands of Dollars

This article originally appeared on ValuePenguin If you are shopping around for a new credit card, you are probably starting out by asking what the best credit card in Singapore is. When you Google “best credit card in Singapore,” you’ll likely get a few results suggesting a few different cards. However, what you probably don’t realise is that the concept of the “best” credit card is a myth, that there is no such thing as “the best credit card” for everyone. Unlike most consumer products like smartphones, there isn’t one specific card that is the ultimate best credit card in the market. Instead, what would the best credit card for you depends heavily on your financial circumstances. To put it another way, what you should be searching for is “which best credit card for me.” Your choice of credit card should depend heavily on how much money you spend and what you tend to spend it on. Let us demonstrate how this works out with real life examples. Why Your Spending Pattern Matters What credit card you should choose should depend first on how much money you spend. For example, my friend Robert makes S$50,000 a year, and spends about […]

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Office Etiquette To Know : Workplace Rules You Must Observe

Despite good intentions, you come across bad office etiquette once in a while. Or perhaps, the work is a little easy for people – too easy to the point that people need to gossip just to kill the boredom. Perhaps people are too stressed. Regardless of the reason, these bad office etiquettes are never good things – both for the company productivity, as well as the social dynamics within the department altogether. Remember also that the people in your office are also the people you’ll most probably spend most of your weekdays around, so here are some habits that are frowned upon in office settings, and how to avoid or mitigate it. You’re excessively Introverted There is nothing wrong with being an introverted person who is happy being left alone. However, when you frequently pass up company events and lunches with colleagues,  you may have brushed off acquaintances who might become your close friends or potential investors or founders of your company! Also, it’s just a little rude to decline every single lunch and event that people offer you. Sure, you can be busy with work. But in your enthusiasm to clear all your work for the day, every day, […]

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