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The Contemporary Social Media And Financial Affairs

Here is how social media platforms can blend well with your personal monetary affairs.

YOU CAN CREATE A BUSINESS REPUTATION.

Content meets entrepreneurship as modern technology allows you to craft an online business persona. Use social media platforms to reach as many consumers as you can. You are free to advertise your products or service, but be wary of oversharing. Oversharing information may cost you plenty of money.

As Robert Siciliano, the online security expert for McAfee, once said: “Online reputation management and mitigation companies are a booming business because people just can’t stop posting things they shouldn’t, which often have long-term negative effects on their personal and professional lives.”

EDUCATORS CAN SHARE ENLIGHTENING VIDEOS ABOUT MONEY.

To increase mutual engagement between the financial literacy material and the students, educators can present a video inside and outside the classroom. Video sharing websites such as YouTube allows lecturers to upload their lessons, which can easily be shared by the students. This enables the students to process the money issues at their own pace.

Turn up the kinesthetic facet up a notch by asking your students to create a video to supplement their assigments related to budgeting or managing debts. This activity will connect them more to the lessons that you are teaching.

YOU CAN USE YOUR PROFILE AS A LEVERAGE.

One of the “online rules” that you must live by is to assume that your posts are all public. This assumption will make you accountable for your actions. After all, your employer may be stalking your every virtual move.

If you despise your job or your boss, it may be tempting to rant endlessly on Facebook. Posting does not cost a cent! However, doing so could sabotage your career. Do you remember the former NTUC Assistant Director who got fired due to her racist comments on Facebook? Well, NTUC’s Membership Partnership & Alliance took immediate actions as they have zero tolerance for racism. On that note, never post anything negative or unpleasant about your previous or current employer. Always use common sense!

FINANCIAL EXPERTS CAN EASILY COMMUNICATE WITH YOU.

Image Credits: pixabay.com

Experts provide significant financial education that will benefit you throughout your lives. This is where the power of social media comes in. Social media platforms present a tremendous opportunity to reach diverse generations, especially the Millennials. Millennials use technology to learn about their personal money matters. So, use specific hashtag such as #financialaid or #guidetobudgeting to expand the discussion to more users.

Sources: 1, 2, & 3

Robo-Advisors: The New Wave Of Wealth Managers

Wealth Management Services used to be exclusive to the people who are insanely rich. These people were expected to pay at least 1% of the value of their assets as fees. Many wealth managers charge more than this! This is why these services leave no room for small-time investors.

Traditional wealth managers provide tailorized advice on financial matters such as investments, retirement, taxes, and estate planning. You must keep up with your annual fees to reap these benefits. However, a new wave just hit the country! Several FinTech (i.e., Financial Technology) companies have digitalized wealth management services.

These digitalized wealth managament services make use of “robo-advisors”, which allow all sorts of clients to build a portfolio at a cheaper rate. Robo-advisors measure your risk appetite and diversify accordingly. The gradual growth of robo-advisors is seen around the globe.

Know more about robo-advisors by watching this short video:

The local FinTech companies that I mentioned above include Bambu and Smartly. Let me kick off with Bambu. Bambu chose the B2B (i.e., Business to Business) route in marketing their robo-advisory platform. This means that they offer their services to the financial institutions themselves.

Ned Philips, the brainchild and CEO of Bambu, believes that the quick rise of digital adaption will greatly benefit the consumers. He explained that it may cost his company US$1 million (S$1.45 million approximately) to acquire 3,000 customers. The low fees that robo-advisors charge make it possible for him to sustain the business.

Smartly, on the other hand, allows its clients to invest in internationally diversified portfolios. The company offers ETFs or Exchange-Traded Funds. You can invest for as low as S$50 per month. You read that right! Their fees are very affordable!

Clients or investors are mandated to provide basic information about themselves. Then, Smartly’s proprietary algorithms will suggest a personalized portfolio based on the profile. It is possible to change the allocations of the funds if the client does not agree with it. Its mere slogan will say it all: “Anyone can be an investor – an investment service built for you.”

In summary, robo-advisors allow you to create a portfolio on autopilot. The digital algorithms access your tolerance to risks and your preferred timeline. Afterwards, a portfolio will be built. It is undeniably cheaper than the traditional wealth management services. This is why it welcomes more and more small-time investors to open their accounts.

Image Credits: pixabay.com

Do you think that this will benefit the Singapore market? Well, I hope so!

Sources: 1 & 2

Should You Spend Your Hard-Earned Money On Wireless Accessories?

Many people have been buzzing about Apple’s latest innovation – the AirPods. The AirPods are made to be wireless, effortless, and magical. These will sell for about S$238 a pop by October. The price is certainly outrageous for a simple gal like me!

Before you redirect to a review on Apple’s trendy wireless accessory, let me backtrack to the Bluetooth wireless headsets and headphones. There are many versions of Bluetooth wireless headsets and headphones attempted by different manufacturers. This is ideal as consumers can pick the most suitable device to suit their needs.

Speaking from my own experience, I was recently gifted with a Philips Bluetooth stereo headset. It let me take calls and listen to music conveniently. I was impressed at how easy and smooth it was to switch between music and calls while maintaining the strong connectivity. The cushion of the headset was soft, which makes it perfect for longer use. Its battery life is decent too. However, as I expected, the quality of the sound was not as good as a wired device. It did not live up to its claim of producing “lifelike sound balance quality”. Using this accessory for quite some time made me wonder if investing one’s hard-earned money on wireless accessories is worth it.

To make a solid decision, you will have to consider various factors that interact in this situation. Start by determining what you need. If your audiophile heart has a longstanding love affair with the “noise cancelling” feature then, go for it. Spending hundred dollars on an amazing Bluetooth wireless headphone that you will use all the time is a worthy investment. However, you can get better accessories without spending that much money if you can live without that feature. Some S$50 wired headphones may sound better than a S$200 Bluetooth wireless headphone. Keep this factor in mind.

Second, you must determine what you can realistically afford. A nice trick is to visualize the act of replacing your accessory every month or two. As you visualize this, think of an amount that you can easily work with if you are going thru the constant replacement. Do not spend more money than you can afford in a short-term basis.

Third, you must accept the seemingly opposing sound qualities produced by the wired and wireless accessories. This is one of the major reasons why people are hesitant to invest in one. For people who are sensitive and particular when it comes to sound, wireless accessories may not be for them. This is because Bluetooth accessories manipulate music unlike wired headphones. Brandt Ranj of Business Insider can simplify things for you.

“Wired headphones will sound better overall, but most people won’t be able to tell the difference.” – Brandt Ranj

The fourth factor is the battery life. Wireless accessories have batteries and these die down. They free you from the tangling cables but, you will have to worry about recharging it. The mere act of connecting the wired USB hub when the accessory is not used is such a chore for some people. I completely understand as recharging one’s headphones or earphones is a relatively new concept.

Lastly, you must consider the biggest benefit of the wireless accessories. I am talking about how hassle-free these pieces of technology are. You can leave your tablet at the kitchen counter while you sweep the floors and listen to happy tunes. You can also throw your smartphone in your bag while listening to energizing songs as you workout in the gym.

Image Credits: pixabay.com

Do what you want without having to worry about getting caught in a fashion mishap. Let us face it! Getting your wires stuck on a stranger’s coat is never attractive.

Sources:1 & 2

Surefire Ways To Waste Your Money On Technology

NOT CONTROLLING YOUR DATA PLAN

You are totally wasting your money if you cannot handle your data usage well. Fortunately for the large-scale telecoms, you are not alone! Millions of people around the globe overpay for their postpaid plans because they underestimate their usage in messages, in minutes, and in bytes of data.

Overuse of SingTel and StarHub plans may appear to be a wee affordable at first but, all of these fees add up. For Singtel users, excess local 3G data is charged up to S$10.70/1 GB and excess data beyond the bundled plan is charged at S$0.50/100 KB. While StarHub 4G users get to pay S$10.70/1 GB in excess. Paying over ten dollars is costly especially because almost every place in Singapore offers free Internet connectivity.

This is why you must think of clever ways to handle your data. Firstly, change your settings to Wi-Fi instead of using 3G/4G network all the time. It will not only save you money but also preserve your battery.

Secondly, analyze your mobile phone billing statements for the past few months and average each factor. Select a postpaid plan that is best suited for your needs. Lastly, upgrade your data allowance for just S$9.90 per month! Singtel’s latest DataX3 add-on triples your data allowance. Learn more by clicking here.

DOWNLOADING USELESS APPS

Ohhh! I cannot quantify the times I downloaded apps that I soon deleted. Do not worry too much about me as these are all free. However, there are some people who spend their hard-earned money on useless apps such as the “Fan Cooler™“. It does not hold true to its claim as an efficient cooling system for your iPhone and iPod devices. The user by the name of “Reavell2” encapsulates it in one review: “Total rubbish don’t spend .99 cents!”

Do not get me started with other apps that claim to pour beer or to make ridiculous sounding ringtones that you will only use once.

PURCHASING 3D TELEVISION

Fantasizing of watching a great film like “Train to Busan” in a theater-like setting at home?

Few people turned that fantasy into a reality when they purchased a 3D television that includes 3D glasses, lifelike images, vivid colors, and three-dimension effects. The price for this unique set rangers from S$2,800 to S$14,999.

Let me wheel you in on a little “secret”, 80% of the 3D TV owners in United Kingdom regretted their purchases. This is why it is best to do extensive research on the latest technology before buying it.

BUYING STANDALONE GADGETS

Christmas is fast approaching! This means that sales will sprout from now until the coming months. As much as possible, avoid purchasing a standalone gadget. Standalone gadgets is a category that refers to the devices that has one function only. In this category are the likes of media players and point-and-shoot cameras. Chances are, the person already has a powerful smartphone or tablet that is packed with features.

Do not waste your money on standalone gadgets unless the person requests for the it specifically. Just imagine if you are about to spens S$564 for your siblings who asked for the GoPro HERO4 Silver Edition Camcorder!

PAYING FOR EXTENDED WARRANTIES

Most digital experts agree that extended warranties are a complete waste of your money. If your laptop has a problem, it will most likely present itself within the first few months. You may also approach your company’s IT personnel first before hiring the services of the repair shops.

Image Credits: pixabay.com

As you read in the above scenarios, it helps if you are aware of your spending habits. Avoid making unnecessary purchases that are meant to fill your emotional void by questioning your cash-flow. The less you surrender to your pointless wants, the less financial resources will be affected!

Sources: 1 & 2

Why The Local Telecoms Are Ceasing The Sales Of Samsung Galaxy Note7

Before its release, people have been clamoring over the great possibilities that the Samsung Galaxy Note7 can bring. Its innovative design focuses on offering better usage with the dual-curved screen and shaping a comfortable grip with the 5.7-inch unit. Continuing the legacy of the preceding Galaxy phones, the latest Note7 along with the S Pen is waterproof. The privacy features went up a notch with the “iris scanning”. The improvements did not stop there!

Samsung came up with a larger battery that minimizes the charging speed and expands the longevity of the phone. However, this turn out to bring more problems than solutions. The battery of several Note7 units all over the world either bloated or exploded. In UAE alone, the Consumer Protection Depart at the Ministry of Economy has removed about 19,000 faulty Note7 off the market.

To control the damage and to address the gravity of the situation, Samsung has taken the full responsibility by issuing prompt recall of these units. All the local telecoms adhered and they ceased the sales of the device. This is followed by the introduction of an exchange program.

As the name suggests, customers who can exchange their defective units from September 16 to October 2. Given that these said customers purchased their Note7 from any local telecom operators, authorized mobile retailers, Samsung Experience Stores, Samsung’s Lazada Singapore online store, and major electronic shops. Self-collection of the new devices in the same color is done by visiting the Suntec Singapore Convention & Exhibition Centre or by having it shipped in your home.

If you are eager to get your defective unit exchanged, follow these simple steps:

1. Go to samsung.com/sg/note7exchange and enter a preferred collection time slot. This link will only be live on Friday (September 9, 2016).

2. Booking period begins from September 9 and extends until September 25. Register yourself if you are eligible for the replacement.

3. You shall return your Note7 afterwards. Worry not about having no means of communication as courtesy devices will be available for loan while you wait for a better unit of Note7.

4. If deemed to be qualified, your warranty period will be extended to commence from the date of the exchange.

May these information ease your worries about your newly purchased Note7!

Source: Vulcan Post

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