MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Personalities That Affect Your Success At Wealth Management

A wealth manager offers a high-level professional service which combines investment advice, accounting services, tax services, retirement planning, and legal planning. Generally speaking, wealth management is more than just about investments as it encompasses all the areas of one’s financial life.

Because of the pervasive nature of wealth management, a crucial factor affecting its success is your personality. Understanding your own personality toward money will help you identify the factors that are beneficial and harmful to your wealth. Start identifying which personality category you belong to. This can increase your self-awareness as well as take the right wealth management plan.

THE IMPULSIVE BUYER

A prey to bargains and sales, an impulsive buyer is a person who hates shopping lists and likes to go with the flow. He or she achieves psychological gratification through spending money on things that are often unnecessary. The urge to spend is usually regretted.

Image Credits: pixabay.com (CC0 Public Domain)

Solution: Remove the immediate ability to spend by keeping all your credit cards at home and by bringing nothing but a substantial amount of cash.

THE UNCONTROLLABLE DEBTOR

Falling under the umbrella of spenders, the uncontrollable debtor borrows money that he or she will readily spend. They are at risk of incurring high amounts of debts, impaling their credit score, and bankruptcy itself. With an outstanding amounts of debts, no successful wealth management can take place.

Image Credits: pixabay.com (CC0 Public Domain)

Solution: Identify all your debts and rank them according to interests. Start by ceasing the debts with higher interests and progress from there.

THE CAUTIOUS MANAGER

Unlike the two personalities mentioned above, the cautious manager likes lists and plans. People in this category also love to spot the greatest deals for their money.

Personally, I consider myself as a cautious manager. I keep track of my monthly expenses in order to analyze my spending habits. In terms of my wealth management efforts, I am very conservative that I invested my money on Mutual Funds (Bonds) alone.

Image Credits: pixabay.com (CC0 Public Domain)

Solution: As you take lesser risks, look for the savings account that offer the highest interest rates.

THE SMART INVESTOR

The smart investor is capable of managing his or her own money well. People under this category have a clearer understanding of their financial situation and they are actively putting their money to work.

Solution: Improve your knowledge on in-depth topics on investments and wealth management through several resources such as books and online articles.

Image Credits: pixabay.com (CC0 Public Domain)

Sources:1 & 2

Cheap Groupon Workshops To Enrich Your Life Skills

GROUPON is probably my all time favorite shopping companion. Used by many Singaporeans, GROUPON is a website that offers discounted deals on events, luxury goods, bags, watches, beauty products, lifestyle services, and getaways.

And if you swear by the website, you would know that they offer a number of deals on workshops too!

1. COGNITIVE SKILLS

Improve your memory with a two-hour workshop by Pinnacle Minds. Buy here.

Learn mnemonic techniques, develop your own memorization strategy, absorb information important to your profession, and more for the price of S$25!

With this workshop, Pinnacle Minds aims to relay their knowledge on multiple memorization techniques such as mnemonics. Founded by Sancy Suraj Singh, the current Guinness World Record holder for the longest sequence of colors memorised, the company has held seminars for various prestigious clients including Singapore Tourism Board and SingTel.

2. CREATIVITY

Unleash your creativity with the two-hour hand bouquet arrangement workshop by Rosebud. Buy here.

Suitable for beginners and those with green thumbs, this workshop is priced at S$26.

Using an assortment of imported flowers and other materials that are provided, Cindy Ko will teach you about floral design. Cindy Ko, the founder of Rosebud, is a UK-trained floral artist with twenty-three years of experience. Fortunately, you are able to bring home your wonderful creation!

3. LANGUAGE SKILLS

Take on the chance to learn the basics of Korean language with a four-session workshop by City of Manchester Centre of Management. Buy here.

Attend introductory lessons on Hangul (Korean Alphabet) and Korean conversational skills for the price of only S$22!

To further enhance your language skills, City of Manchester Centre of Management offers a series of classes to learn Korean through hands-on, activity-based lessons. The center is located in Shenton House, just a six-minute walk from the Downtown MRT.

4. FINE MOTOR SKILLS

Develop fine motor and concentration skills with your child with the two-hour clay sculpting workshop by Jumping Clay. Buy here.

Looking for a fun activity that you and your child can do? Look no further as Jumping Clay gives you the “2-Hour Clay Sculpting Class for S$24”.

Jumping Clay, an established brand founded in Korea, is a shop that teaches art workshops and sells an array of clay products. Participating in their workshop will help improve you and your child’s fine motor skills, concentration skills, and spatial intelligence. Everything is safe for your child as you will use nothing but non-toxic polymer clay.

Image Credits: pixabay.com (CC0 Public Domain)

These deals are available for limited time or limited slots only. See something you like? Go and click it! 🙂

5 Must-Try Bars That Sell Booze For As Low As S$6

A bunch of your friends have gathered to celebrate the happy hour! Sounds fun, doesn’t it?

But what if you found yourselves in a tight budget crunch? Where should you go for incredibly affordable drinks without sacrificing the taste?

Well, take a look at this list first!

1. WINE CONNECTION TAPAS BAR & BISTRO

Share a casual dinner with your friends or a lazy weekend afternoon with your partner at Wine Connection Tapas Bar & Bistro. It is the perfect place for gatherings as they serve good beats, relaxing vibes, and reasonably priced drinks. You can even get booze for as low as S$6.

Image Credits: facebook.com/wineconnectionsgp

Located at #01-19/20 Robertson Walk, 11 Unity Street, Singapore 237995.

2. 5 EMERALD HILL

5 Emerald Hill is a unique bar as it is housed in a Peranakan-styled building. Aside from their famous Chicken Wings, they serve an array of cocktails including their signature No.5 cocktail and Chili Vodka. Get your hands with their S$8 gentleman’s pour or S$10 house wine before the clock turns to 9PM!

Image Credits: facebook.com/No5EmeraldHill

Located at 5 Emerald Hill Road, Singapore 229289.

3. NASSIM HILL BAKERY BISTRO & BAR

What is amazing about Nassim Hill Bakery Bistro & Bar is that they have the longest happy hour from 9am to 9pm! And there is no service charge. Match their food with the house wines priced at S$11 or the stiff drinks (i.e., vodka, rum, or tequila) priced for as low as S$8.

Image Credits: facebook.com/nassimhill/timeline

Located at 56 Tanglin Road #01-03, #01-03 Tanglin Post Office, Singapore 247964.

4. THE CIDER PIT

Rated with 82% upvotes at Hungry Go Where, The Cider Pit sees that your cider cravings are covered at an affordable price of S$10/pint. Aside from ciders, you may quench your thirst for artisanal beers as well as your hunger for European cuisine.

Image Credits: hungrygowhere.com/singapore/The_Cider_Pit

Located at 328 Joo Chiat Road, Singapore 427585.

5. WALA WALA CAFE BAR

As eccentric as their name is, Wala Wala Cafe Bar offers different experiences to its consumers every night. But I guarantee, you will enjoy the upbeat venue, eclectic live performances, and their inexpensive booze. From 4pm to 9pm, you can grab a vino or a beer for less than S$10!

Image Credits: facebook.com/walawala.sg

Located at 31 Lorong Mambong, Singapore 277689.

Sources: 1 & 2

University Scholarship Programmes In Singapore That You Must Consider

Home to several world-class universities, Singapore’s education system has flourished throughout the years. With its excellence in tertiary education, Singapore has been a popular hub for many international students. However, as you are aware of, the university fees and hidden costs can rip a hole in one’s pocket. This is why it is important to consider the competitive scholarships and grants available for local and international students.

Pursue your passion despite the hefty costs by considering these 3 Scholarship Programmes:

1. LASALLE PETER SEAH SCHOLARSHIP

To pursue a full-time diploma programme at the LASALLE College of Arts, you can apply for the Peter Seah Scholarship for Singapore students. The scholarship is awarded to encourage excellence and build leaders in the arts and creative industries.

Benefit: Includes a maximum of S$5,400 for an academic year.

Eligibility:
– Singaporeans or Singapore Permanent Residents
– For August 2016 intake of a full-time diploma programme
– Non-recipients of any other financial aid awarded by other organizations

Application Due: May 18, 2016

2. NUS PERFORMING & VISUAL ARTS SCHOLARSHIP

The National University of Singapore (NUS) Performing & Visual Arts Scholarship is open to Singapore students who are taking a full-time undergraduate degree programme for the academic year 2016-2017. It is awarded to individuals who are outstanding in their academics and arts.

Benefits:
– About S$6,000 annual living allowance and S$2,625 annual accommodation allowance
– Guaranteed offer of a semester on the Student Exchange Programme
– Eligible for the NUS Scholar Enrichment Grant
– Eligible for free tickets to selected campus performances

Eligibility:
– Singaporeans
– Possess good Singapore-Cambridge GCE A Level, Local Polytechnic Diploma, International Baccalaureate Diploma, NUS High School diploma or any equivalent qualifications
– For full-time undergraduate degree programme
– Have good co-curricular activities record and strong leadership qualities

Application Due: April 1, 2016

3. LEE FOUNDATION STUDENT LIFE SCHOLARSHIP

Lee Foundation, a charitable foundation established by the businessman and philanthropist Mr. Lee Kong Chian, is offering Singaporean and international students with the Lee Foundation Student Life Scholarship. This scholarship aids full-time undergraduate students of any degree programme at Singapore Management University (SMU).

Benefits:
– Sustainable for one year
– Scholarship’s monetary value is determined by the number of scholarships awarded for the year, of which each will receive an equal share of the annual scholarship fund of $20,000
– Tuition Grant Scheme provided by the Singapore Government (Non-Singaporean recipients including Singapore P.R. must work for Singapore-based companies for 3 years upon graduation)

Eligibility:
– For full-time undergraduate students of any nationality and in any degree programme
– Have an active student life
– Have good academic results with a minimum cumulative GPA of 3.00
– Preference for students with observable financial needs

Application Due: April 2016

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1, 2, & 3

5 Appliance Shopping Hacks Everyone Should Know

Are you considering a major appliance purchase any time soon?

Spend your money wisely and save along the way with the 5 Appliance Shopping Hacks Everyone Should Know:

1. WAIT FOR THE HOLIDAY SALES

Aside from the holiday festivities, you will enjoy the appliances bargains. All year-round Singapore’s physical and virtual stores celebrate the holidays with lots of promotions. If you are not rushing, I suggest you wait for the sales on the upcoming Labour Day and Vesak Day on May.

2. AVOID HEFTY MAINTENANCE COSTS

Air pollution is around us, especially during the incidents of haze. Indoor air pollution come in the form of dusts and dirt trodden. These can harm your lungs and contribute to asthma and allergies.

To control the air pollution, you may purchase appliances such as air purifiers, air cleaners, and air humidifiers. However, its maintenance costs can be pricey. So it is better to shop for permanent or washable types of filters such as HEPA filter.

3. CONSIDER OLDER MODELS

It is no secret that you can score greater savings by buying the older models of appliances. Sometimes, stores offer discounts on older models to prepare for the upcoming release of new one.

Since stores constantly rotate the models, the previous models are left at the sides or at the back. Look for those!

4. AVOID CHEAPER KNOCK-OFFS

Knock-offs are duplicates or copies of the authentic or branded appliances. Because knock-offs are built with lower quality than the authentic appliances, it may cost you more in the long-run. The knock-offs’ appliance life is generally short that you may constantly have to buy a replacement. Instead, buy appliances from trusted brands such as Electrolux, Philips, and Whirlpool.

5. BUY ENERGY EFFICIENT APPLIANCES

If you are planning to buy a new refrigerator, air-conditioner, television, or dryer, opt for the ones that are energy-efficient. Energy efficient appliances can help you save several dollars each month on your water and electricity bill. These seemingly minute savings add up quickly to about hundreds or thousands per year.

Image Credits: nea.gov.sg

To check if the appliance is energy-efficient, please refer to the Energy Label. Aim for appliances with 4-5 ticks. Energy Label is issued by the National Environment Agency.

Sources: 1, 2, & 3

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