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How to Live Solo in SG Like a Pro

Living solo in Singapore? It’s an exciting adventure but it also comes with financial responsibilities. According to a 2022 Statista survey, young professionals in their 20s stash away at least 35% of their income in savings, while those in their late 50s and 60s save around 29%. Clearly, Singaporeans are financially savvy and you can be too!

If you’re looking to stretch your dollar while enjoying the perks of independence, consider these practical money-saving hacks.

HAWKER CENTRES ARE YOUR BFF

Sure, cafe brunches and restaurant dinners are tempting but they’ll drain your wallet fast. Instead, embrace the vibrant hawker centre culture! From S$4 chicken rice to S$3 mee goreng, you’ll find delicious budget-friendly meals all over the island.

Image Credits: unsplash.com

Pro tip: Stick to kopitiams in the heartlands for even better deals!

MAXIMIZE CREDIT CASHBACK

Want to make money while spending it Cashback credit cards reward you for everyday purchases like groceries, dining and transport. With banks competing for customers, you’ll find plenty of attractive deals think Citi Cashback Card, HSBC Advance Credit Card and UOB One Card. Just remember to pay your bills on time to avoid interest charges!

USE PUBLIC TRANSPORTATION

Owning a car in Singapore Expensive Taking public transport Smart The MRT and bus network is fast, reliable and way cheaper than cabs or private hires.

Pro Tip: Grab an EZ-Link card or use SimplyGo for seamless discounted rides no need to fumble for cash or queue for tickets.

TURN OFF THE AC

Singapore’s humidity makes air-conditioning feel like a necessity but running it 24/7 will send your electricity bill soaring. Instead, opt for fans when possible and set your AC on a timer at night. Even better Clean your AC filters regularly to keep it running efficiently and reduce energy consumption.

SAY NO TO TAKEOUTS

Ordering food delivery every night isn’t just pricey it’s often less healthy too. Cooking at home saves money and lets you eat better. Not a kitchen pro Start with simple one-pot meals or meal prep on weekends to make weekday dinners a breeze.

IN A NUTSHELL

Living alone in Singapore doesn’t mean you have to live beyond your means. With some smart financial habits eating at hawker centres, using cashback cards, taking public transport and cutting down on utility bills you can enjoy independence and keep your savings on track.

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After all, financial freedom is about making your money work for you so start today!

Sources: 1 & 2

Why Is It So Hard to Keep Employees in S’pore Workplaces?

Hiring is tough, but keeping employees? That’s a whole different challenge. If you’ve ever found yourself wondering why your best talents are walking out the door, you’re not alone.

Employee retention in Singapore is becoming harder than ever, and it all boils down to a few key reasons.

#1: OVERWORKED, UNDERPAID

Let’s face it, money TALKS. Singapore’s cost of living is one of the highest in the world, and if a salary isn’t keeping up, employees will eventually seek greener (and better-paying) pastures.

While passion and purpose are important, at the end of the day, people need to pay their bills. Companies that fail to offer competitive pay and benefits risk losing talent to competitors who do.

#2: LIMITED CAREER GROWTH

Imagine being stuck in a role with no promotion in sight. Sounds frustrating, right? Employees today, especially younger professionals, crave career progression. They want opportunities to learn new skills, take on bigger roles, and climb the corporate ladder.

When a company fails to provide growth opportunities, employees will look elsewhere.

#3: POOR WORK-LIFE BALANCE

Singaporeans are no strangers to long working hours, but there’s a limit to how much people can handle before burnout kicks in. Overtime culture, inflexible schedules, and unrealistic workloads take a toll on employees’ mental and physical well-being.

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With more companies embracing remote work and flexible arrangements, employees now have options. If their current job doesn’t allow them to balance work and life, they’ll find one that does.

#4: LACK OF RECOGNITION

A simple “thank you” or a well-deserved promotion can go a long way in making employees feel valued. Unfortunately, many companies overlook the power of recognition.

When employees feel like their hard work goes unnoticed, their motivation dwindles. If an organization doesn’t appreciate them, why should they stay?

#5: TOXIC WORK ENVIRONMENT

Nobody wants to work in a place filled with office politics, negativity, and micromanagement. A toxic workplace not only affects productivity but also destroys morale.

When employees feel unsupported, unheard, or even bullied, leaving becomes the best option for their mental well-being.

#6: BAD BOSS/ES

They say people don’t leave jobs…they leave bad bosses. A great leader inspires, supports, and guides their team. On the flip side, ineffective managers create frustration, confusion, and dissatisfaction. When leadership fails, employees disengage, and eventually, they walk away.

IN A NUTSHELL

Keeping employees happy and engaged isn’t just about offering a paycheck. Companies need to invest in their people by providing fair compensation, clear career paths, work-life balance, and a positive work culture.

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Retention isn’t just an HR responsibility; it’s a company-wide effort. After all, when employees thrive, businesses thrive too.

5 Signs You’re Financially Ready to Move Out of Your Parents’ House

Moving out is a significant milestone for many young Singaporeans. While living with parents until you’re financially stable is common in Asian cultures, there comes a time when independence is the goal. But how do you know if you’re truly ready? Well, consider these five signs that you’re financially prepared to live independently in Singapore.

#1: YOU CAN AFFORD THE COSTS OF MOVING OUT

Rent will likely be your largest monthly expense. In Singapore, renting a room or flat is common for singles under 35, unless family support helps secure a private apartment. Apart from rent, consider other costs like furniture, food, transportation, and household bills. Location, size, and proximity to amenities will affect rental prices, so ensure you can comfortably manage these costs before making the leap.

HDB flats are typically more affordable but come with eligibility criteria and waiting periods. Private condominiums offer more flexibility but at a higher cost. Understanding the differences will help you make the right choice.

#2: YOU HAVE AN EMERGENCY FUND

Unexpected expenses, like medical bills or home repairs, are inevitable. Having an emergency fund, ideally three to six months’ worth of living expenses, provides financial stability during tough times. If you haven’t built your emergency fund yet, focus on saving before considering independent living.

#3: YOU CAN PAY YOUR BILLS ON TIME

Paying bills promptly is a key sign of financial stability. If you consistently meet your obligations, it shows you’re managing your finances well. Struggling to pay bills or delaying payments? You may need to improve your budgeting skills before moving out. Consider reducing non-essential spending or finding ways to increase your income.

#4: YOUR NET WORTH IS GROWING

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Financial stability means having extra funds to save and invest. If you’re growing your net worth through investments in stocks, real estate, or other assets and side hustles, you’re on the right track. Even small increases in your net worth show that you’re financially responsible and ready for the added costs of independent living.

#5: YOU ARE EMOTIONALLY READY TO MOVE OUT

Moving out is not just a financial decision…it also requires emotional readiness. Independent living involves managing your own household, cooking, cleaning, and solving problems on your own. If you feel confident in your ability to handle these tasks, it’s a good sign you’re prepared for this next step in life.

IN A NUTSHELL

Living independently comes with both perks and responsibilities. Assess your new financial obligations, such as contributing to your parents’ allowance or paying for insurance, and plan your budget accordingly. Additionally, consider the emotional impact on your family dynamics. Moving out can change your relationship with your parents, so make sure you’re ready for this transition.

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Take your time to plan and ensure that when you do move out, you’re doing so with confidence and security.

Sources: 1 & 2

7 Red Flags That Indicate You Might Be a Bad Boss

Hey there, boss! Let’s get real for a second. Are you the leader your team looks up to, or are you secretly the reason they’re eyeing the exit? Being a boss isn’t just about titles and paychecks as it’s about leading with integrity, consistency, and respect.

As an HR consultant, I’ve seen it all, from inspiring leaders to toxic bosses driving talented employees to resign. Take a moment to reflect. Do you recognize yourself in any of these signs of being a bad boss?

#1: LACK OF TRANSPARENCY

Picture this: a company offers over 10 employee benefits, yet the staff still grumbles about their salaries. Why? Because their boss failed to communicate clearly about the incentive packages.

Transparency doesn’t mean spilling all the beans, but it does mean keeping your team informed about what directly impacts them. Good bosses build trust by being open, while bad bosses create a veil of secrecy that widens the gap between themselves and their employees. Ask yourself, are you bridging that gap or making it wider?

#2: INCONSISTENT DECISION-MAKING

Few things frustrate employees more than inconsistency. If you’re constantly changing your approach to the same issues, you’re leaving your team in the dark, unsure of what to expect.

Great bosses create stability by applying consistent frameworks to their decisions. When flexibility is needed, they explain the reasoning behind it. This builds confidence and helps everyone, including you, stay on track. Are you consistent, or are you keeping your team guessing?

#3: MICROMANAGING THE TEAM

Let me tell you about a company I left because of relentless micromanagement. Every move I made was scrutinized including my pronunciation of certain words, and it crushed my confidence.

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Micromanagement screams one thing: I don’t trust you! Great bosses delegate tasks and let their team figure out the best way to succeed. If you feel the urge to hover, ask yourself why you hired these people in the first place. Trust them to deliver and focus on the bigger picture.

#4: TAKING THE CREDIT & PASSING THE BLAME

Oh, this one gets me every time! I’ve seen countless bosses in Singapore who light up when it’s time to claim credit but vanish when it’s time to take responsibility.

A good boss knows success is a team effort and isn’t afraid to own mistakes. Passing the blame might save your ego momentarily, but it quickly earns you a reputation as a turncoat. Be the boss who steps up. Your team will respect you for it.

#5: USING INTIMIDATION INSTEAD OF EARNING RESPECT

Here’s a truth bomb: employees don’t quit jobs; they quit bosses. Intimidation might get you short-term compliance, but it will never earn genuine respect.

Respect is a two-way street. If you want your team to respect you, start by showing respect to them. A healthy manager-employee relationship thrives on mutual trust, not fear.

#6: FAILING TO ADVOCATE FOR YOUR TEAM

Are you a cheerleader for your employees? A great boss champions their team, pushing for recognition, promotions, and growth opportunities.

If you’re promising salary bumps or promotions that never materialize, or if you’re not fighting for your team’s visibility, you’re doing them a disservice. Advocate for them – it’s your job.

#7: PLAYING OFFICE FAVORITES

Imagine that your boss frequently has lunch with one team member, shares exclusive updates with him, and hands him all the high-profile assignments. Sound familiar?

Favoritism isn’t just unprofessional, it’s toxic. Sure, it’s natural to have preferences, but as a leader, you need to treat everyone fairly. You’re not running a popularity contest. You’re managing a team united by shared goals.

IN A NUTSHELL

No one sets out to be a bad boss. However, self-awareness is key to becoming a better one. If you’ve spotted yourself in any of these behaviors, it’s not too late to change. Lead with transparency, consistency, and respect, and watch your team thrive.

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So, are you ready to be the boss your team deserves?

Sources: 1,2, & 3

How to Make Money with TikTok

If you’re eager to monetize your TikTok presence, there are several effective strategies you can explore. Whether you’re a dancer, singer, comedian, or any other type of content creator, TikTok offers numerous opportunities to generate income. Here’s how you can turn your TikTok passion into profit:

SELL YOUR OWN PRODUCTS

Selling your own products on TikTok is a fantastic way to monetize your content. Creators can design and sell merchandise to their loyal fans, with options including cosmetics, t-shirts, tote bags, pillowcases, hats, mugs, stickers, and notebooks through print-on-demand companies.

Beyond generating revenue, selling branded merchandise deepens your fans’ connection to your personal brand. Each follower who wears your merch becomes a walking advertisement, spreading the word about your business.

CREATE IN-FEED ADS

While TikTok offers many organic marketing opportunities, paid ads can significantly expand your reach. Using TikTok’s ad manager, you can create in-feed ads that appear in users’ “For You” feeds and autoplay.

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Paid ads allow you to target audiences likely interested in your products, ensuring your content reaches the right people.

AFFILIATE PARTNERSHIPS

Affiliate marketing is another powerful way to make money on TikTok. Brands running affiliate campaigns can easily collaborate with willing creators. As a creator, you can promote products and earn a commission for every sale made through your unique affiliate link.

SELL ON TIKTOK SHOP

TikTok Shop is an excellent tool for in-app shopping, allowing users with business accounts to create shoppable videos and livestreams. By tagging products in your videos, you can naturally draw viewers’ attention to items you want to promote.

Adding product information and buy buttons to your content can drive traffic to your affiliate partners or your own online store. If you use Shopify, you can integrate it directly with TikTok Shop, enabling users to browse and purchase items without leaving the app.

ESTABLISH CROWDFUND PROJECTS

Crowdfunding is a great way to secure a regular income stream while engaging your audience. If you’re dedicating significant time and effort to your content, offering an easy, no-pressure way for your fans to support you can be very effective.

Use TikTok to rally your followers around a specific project by setting up a funding goal and hosting live fundraising events. Whether you need startup funds or support for ongoing projects, crowdfunding provides a flexible and accessible funding option.

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By leveraging these strategies, you can effectively monetize your TikTok presence and turn your passion into a profitable venture. Happy creating!

Sources: 1

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