Can’t live without your smartphone? You’re not alone. Singapore is one of the most wired countries on the planet, with 88% of Singaporeans owning at least one smart phone. With smartphone usage being such an important part of your daily life, phone bills at the end of the month can sometimes get rather monstrous. We want to help you out. Here’s 4 tips on how to reduce that phone bill.
Sign Up For A Corporate Or Student Plan
Companies often tie-up with phone service providers to offer special corporate plans for their employees. These special plans can entail reduced rates, additional data and more! While it can be certain that most large companies have such mobile plans for their employees, some smaller businesses also provide such benefits as well. Sometimes these special corporate plans aren’t very well communicated by the company management, so remember to take the initiative to ask.
If you’re a student, there are plenty of student plans abound from each of the phone service providers, so feel free to take your pick. Some of them offer free campus calls, or unlimited text messages, so choose your plan wisely
Use Free Apps
Why text, when you can use Whatsapp, Line or Telegram? Why call someone using the conventional calling function when you can use Vibre or Skype? There are plenty of free apps abound on the Apple App Store and Google Marketplace that allow you to make full use of the internet connectivity of your smartphone. Most, if not all, of the functions which make use of your normal mobile plan features such as texts and calls can be replaced by these apps. Doing so would definitely minimise your phone bill, as you would be using less of what can be charged to you.
Do take note of your 3G/4G usage, as all these apps would make use of the wireless connection. But hey, you’re in Singapore, one of the most wired countries on the planet! This means you should…
Use Wifi Whenever Possible
Remember to make sure you log in to your home wifi whenever you reach home. Imagine the rude shock you would receive if you were watching videos all night, only to realise you had forgotten to connect to your house wifi! Most malls now have wifi as well, so visitors just need to create and account and log in to use it. The government is also in the midst of installing wifi accessibility in 36 MRT stations, so you can eventually even use wifi when while waiting for the train!
Use Prepaid
Sure this might not be the coolest thing around, but if you’re someone who can survive without being on Youtube and Facebook 24/7, this is a very viable option. You only need to pay a small minimum amount to get started with using a prepaid, after which you can top-up if you need to! Using a prepaid card also means you can better regulate your phone usage, because once you run out of prepaid credit, you literally can’t use your phone anymore to call, text or surf the net. If you use a mobile plan, you run the risk of going overboard each month if you don’t make the effort to track your usage regularly
Singapore experiences its first deflation in 5 years when consumer prices fell 0.3% in November on a year-to-year basis. Deflation, in economics is defined the decrease in average price level of good and services.
While it may be good news to the consumers as their purchasing power increases with more money in their pocket for other things, investors and the government get cautious over a sustained decrease in the price level.
‘Decrease? I am still paying the same for my food, public transport and medical bills.’
Prices of food, healthcare and education amongst other items has in fact, avoided the drop and in fact rise by 2.9%, 1.8% and 2.7% respectively. For the average consumers, there is nothing to cheer about besides a drop of 2.1% in clothing and footwear.
What led to the overall fell in prices is mainly due to the fall in the price of private road transport – a decline of 7% as compared to last year. This is attributed to the decrease in the price of COE premiums from almost $100,000 in January 2013 to around $76,094 for Cat E in the first round of bidding in December 2014. With over 100,000 cars hitting 10 years old next year, these decade old cars is due for de-registration and thus expect an influx of COE supply and prices to fall further.
The fall in Brent crude oil from US$115 a barrel in June to the current price of US$61 a barrel has caused downward pressure to the average price level of good and services. With the advent of better technology such as hydraulic drilling in the US and the use of alternative fuel, coupled with a slow growth in China and OPEC’s price war, it is unlikely that prices will hit the US$100 mark in the near future.
The housing sector is also affected as the property and rental market start to slow down.
What does it means to the consumers?
If there is sustained deflation, there will be a downward deflationary spiral where aggregate demands will fall and companies to cut down on production. Consumers will put off spending knowing that future prices will be cheaper and this hurts the economy and increases unemployment. With lower wage, the problem exacerbates and price declines further – something you witness in Japan over two decades.
Fortunately, Singapore seems poised to be able to resist the deflationary pressure due to a tight labour market and increasing population. The fall in the general price level is unlikely to be passed on to the consumers as companies face high rental cost and sticky wages. So don’t expect the price of your groceries, MRT and Bus fares and other necessities to fall.
What about investors?
Investors should remain cautious if the prices of Brent continues to decline to inflection point. The slide will cause concerns for companies in the offshore and marine industry such as Sembcorp, Keppel and COSCO as profits dwindled with declining global demands.
The roubles crisis may further inject uncertainties to the market and may often lead to spillover effects on countries that are exposed to Russia such as the US, Germany and eastern Europe that relied heavily on Russian economy. For example, Germany’s company Siemens lost 14% of the revenue, Volkswagen has lost 20% in the same period and Adidas has shut down stores in Russia. American companies like McDonalds, FordMotors and ExxonMobil were also hurt by the fallout due to sanctions and decline in sales.
While there are mixed results from the falling prices, there is no cause of concern for Singapore, for now. Core inflation is expected to average between 2 to 3 per cent in 2015.
These past few days, the news of a huge entertainment company being hacked shocked most of us. This big company is no other than Sony Pictures. A hacker group called LulzSec sent out a message on Twitter saying: “1,000,000+ unencrypted users, unencrypted admin accounts, government and military passwords saved in plaintext. #PSN compromised. @Sony”.
Image Credits: TRF_Mr_Hyde via Flickr
Various collections of data were accessed and stolen easily without the need of outside monetary support. Among these data are admin details including their passwords. Truly, it is very scary.
This “simple” attack by LulzSec will surely make Sony paranoid to the extent of further improving their technological restrictions, security, and privacy. Luckily for Sony, a private messaging company offered their services to them for free.
Confide, a relatively new private messaging App for Android and iPhone, mimics the capabilities of Snapchat. The only difference is that, Confide does not let the people you send messages to take a screenshot. It’s a way to send messages to your contacts without having to worry about the information getting hacked or leaked out.
Screenshot Credits: Confide App via Google Play Store
Other features of the Confide App include: messages disappearing forever once they have been read, messages being encrypted, messages can be sent to email addresses or phone numbers, and getting notifications once your message has been read.
Best of all? It can be downloaded for FREE in Google Play or ITunes.
Along with Sony, Confide App is now trying to capitalize on the Sony hack by pitching its services to other big companies. If you asked me, I would say that perhaps Confide App has an association with the recent hack in order to market their business, but that is just my crazy conspiracy theory talking.
Image Credits: michael davis-burchat via Flickr
The main agenda of the hackers was to warn the nation of how “simple” it could be to access information with security flaws, and how it is paramount to tighten privacy measures in this age and time.
The ‘Oracle of Omaha’ invests like no other – successfully. He isn’t a fierce and aggressive investor though, rather a calculative and risk-free businessmen. One might question the kind of companies he invests in, but his methods are clean, careful and even somewhat conservative. Warren Buffett ranks with currently 71.6 billion US dollar among the wealthiest individuals in the world. Born to a Congressman in Nebraska, he made his first money selling chewing gum. More than half a century later he is the CEO of Berkshire Hathaway, an American multinational conglomerate holding company.
Many young businessmen continuously seek advice and answers to how he made such a large amount of money. The answers are rather simple and surprising. Unlike the risky investors one has increasingly encountered in the last decades, he hardly ever makes a rush and not-thought-through investment. Furthermore, he isn’t bothered by the market or other investors, which is probably one of his biggest strengths.
Although he reads up to five different newspapers everyday, the daily fluctuations of the stock exchange don’t influence his decisions. His attitude towards investments is different compared to most modern investors. The daily numbers on Wall Street can often cause a frenzy of hasty buying and selling of shares. Warren Buffett considers his investments to be long-term. Romanticising his approach, one could say he is ‘old school’. When Buffet bought his first shares half a century ago, the average time for holding a share was more than a month. Nowadays, this average has dropped to scary 22 seconds. Considering that a share represents a part of company, one could say 22 seconds isn’t really an investment in anything.
He credo is to invest in what he knows. There isn’t a chance he buys shares worth millions of dollars from a company that he doesn’t entirely understand. He does his homework and buys shares as if he was buying the entire business. This investment is not based on the fluctuation of the share, but rather on long-term interests in the company. One could actually argue that Buffett’s categories are extremely conservative. When considering an investment, he questions whether the company is simple and understandable, has a positive operational history and if there is a favourable future for the business.
This strategy isn’t flexible at all, but safe and sound. Warren Buffett is known for not being irritable by the market. His holding company for example owns significant parts of Coca Cola, American Express and IBM – companies that are consistently successful.
Another strength of his is his sense of realism. He knows that it is impossible to predict the day-to-day movements of the market and therefore the direction of the economy. Most investors try to form a package of shares and investments that will be beneficial with their predicted direction of the market. However, this always includes a risk. If the prediction isn’t entirely correct, not all shares will be profitable. Buffett’s investments are outside of these predictions. He understands that he cannot, despite his vast influence and financial power, control and continuously predict the economy. He therefore only invests in businesses that are superior to these fluctuations. There are certain businesses that always will prosper and generate revenue – such as Coca Cola and IBM.
The simple principle behind Buffett’s strategies isn’t to minimise risk, but to eliminate risk in the first place. He was famously quoted saying that the stock market doesn’t really exist for him. It is only there to see if anyone offers anything foolish, he said. This exemplifies his attitude towards the daily swings of the market that most investors are influenced by – he ignores them completely.
It isn’t intelligible for him to invest in a company that he doesn’t understand and whose business isn’t transparent. Modern day trading on the stock market is mainly based on sudden impulses and spontaneous movements of the shares. Investors, buyers and traders, for the most part, no longer look at the company and its values, but rather at their day-to-day performance. As Warren Buffett tends to do long-term investments, he does exactly the opposite.
He is convinced that taking a risk with certain shares is never a good idea, as he equals a risk with not knowing. Why invest in something that you are not sure off? That is exactly his credo. No investment should be made, unless there is certainty. Once the latter is guaranteed, one can even make a heavy investment. Modern day trading is often compared to gambling at the casino. Surely, it often seems that way. False investments cannot only cause a heavy damage, but can create a ripple effect if the investment was made with borrowed money.
Warren Buffett chooses not to gamble, but place his money on the safe side. Why would you bet on black, if you know it is going to be red? Buffett might invest conservatively, but therefore only does so whenever he is sure of profit and convinced of the company itself.
One might ask, how he knows which shares and companies will be prosperous and safe. Buffett does he research. He might not be influenced by the daily fluctuations, but he does his homework concerning financial news and business developments. Once he makes an investment in a company, he usually buys a huge quantity of shares and keeps it. Many investors don’t keep shares, as the cash flow might stagnate. Warren Buffett has a certain funding, which he can easily invest without having to worry about accessibility of funds. However, also he has started small. His earnings on the market did not instantly rocket into the millions.
Warren Buffett might posses 71.7 Billion US Dollar, but also he has started small. He has made his first billion only in 1990. Considering he has then already been trading for over thirty years, one understands that consistency and persistency are part of his success. It is, however, difficult to apply all his tactics. Around 60 Billion US Dollar of cash pool allow him and his company to move quickly like no other investor, if necessary. Hence, his principles and attitude are admirable, but if one aspires to be the next Warren Buffett, one should make some time.
With Christmas coming up in just a few days, many of us are running around buying presents, preparing decorations and stocking up on the many ingredients we need to make delicious Christmas dishes. Wonder how you could let your wallet ache a little less? Do something different to celebrate Christmas this year! Here are some tips to help you ease up on your Christmas spending, and perhaps spending Christmas in a more meaningful way.
When trying to pick out presents for your friends and family, sometimes we feel pressured to spend more. After all, if we choose something that’s too cheap, we might come off as stingy, or not valuing the person enough. All these social expectations can certainly take a toll on your budget, especially if you’re buying presents for multiple people. With a gift exchange, you can set a maximum amount, say $15, which a person can spend on a gift. Because you would only be buying for one person, the total amount you spend would definitely be lot lesser as well! You can also spend more time picking out a more thoughtful present for the person in question.
Christmas is all about giving and doing good, so why not put that into practice. Bring your family and friends to help out at an old folk’s home or charity for their Christmas celebration. Besides saving money on your own Christmas celebration, you also get to bring joy to the lives of the need and underprivileged. Who says you can’t do good and save money at the same time? Everyone’s a winner with this Christmas tip.
If you’re the crafty sort, why not give your friends and family homemade gifts this Christmas? In addition to saving money, you also get to give your presents a real personal touch. The person who receives your present would also know that you took the time to make a present specially for him or her. If you’re not too familiar with arts and crafts, there are plenty of guides and tutorials online to help you make the perfect Christmas present for your loved one. While you’re at it, why not learn how to make a Christmas gift together?
Instead of having a Christmas party (which would most definitely suck up a lot of your money), why not invite your friends and family to go for a class together? Try out a baking class or a scrapbooking class, so you can not only learn a skill, you also get to make a Christmas present for the person learning along with you! While this alternative might only be slightly cheaper than a Christmas party or gift exchange, it gives you double the value, thanks to the bonding time and the end product you make! You can also use the knowledge gained for the class to have additional baking or crafts sessions together on your own time, so it’s worthwhile investment.
With Christmas decorations getting more and more extravagant each year, it would be a waste to not go out and take a look. This Christmas tip is especially useful if you have young children, or are thinking of Christmas date ideas with your loved one! Other than Orchard Road, you can also head down to Gardens By The Bay, to see their beautiful Christmas lights installation. This is definitely something not to be missed. Plus, it’s free!
