Author: iMoney - Singapore

Top 10 Financial Milestones Every Singaporean Should Look Forward To

In a recent study conducted by Nielsen, it was reported that nearly two-thirds of Singaporeans share the optimistic belief of achieving their financial goals in the future. However, we all know life would be a whole lot simpler if survey optimism was an indicator of our financial destiny. The financial expectations and needs of Singaporeans at each stage of their life are variable, and a pro-active approach to managing these goals via a healthy savings and investment portfolio is the singular key to financial survival. We have to remember the fact that one-third of Singaporean respondents still felt that...

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Top 10 Financial Milestones Every Singaporean Should Look Forward To

In a recent study conducted by Nielsen, it was reported that nearly two-thirds of Singaporeans share the optimistic belief of achieving their financial goals in the future. However, we all know life would be a whole lot simpler if survey optimism was an indicator of our financial destiny. The financial expectations and needs of Singaporeans at each stage of their life are variable, and a pro-active approach to managing these goals via a healthy savings and investment portfolio is the singular key to financial survival. We have to remember the fact that one-third of Singaporean respondents still felt that...

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Forex Fever – To Trade or Not To Trade

Like everything else in this world, foreign exchange or FOREX trading comes with its own set of pros and cons. Yes, it does seem like peaches and plums with a hint of exciting and bitter dark cocoa syrup, but it could prove to be bitterer than you would have imagined. What attracts more number of people towards Forex trading is the promise of fast cash, a 24 hour market and easy access. With brokers accepting lower initial investments, people are flocking to Forex as a means of creating side incomes. Forex trading is based on the principle of buying...

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9 Apps That Will Make Your Family Holiday Trips A Lot More Pleasurable

When your sole yearly vacation with family or friends is around the corner, the last thing you want to do is get stuck with petty obligations and complications to hold your trip hostage and exacerbate your jetlag. Whether you plan to fly across Paris, New York, Amsterdam, China, Bangladesh and Hawaii in the span of a couple of weeks, your trip can be as comfortable as you make it with a little foresight and organization. You need to think about so many things while on a vacation, like the hotel accommodation, food, local transport, recreational activities, etc. Unfortunately, a...

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6 Smart Investments to Make Instead of Buying the iPhone 6

With the launch of iPhone 6, the Apple fever is at its peak once again. Some of the more fanatical lot of Apple fans even camped outside the Apple store several hours before its official launch. Of course no one cares about the amount being spent on it or the fact that it is ridiculously expensive considering what all that iPhone 6 has to offer. The brand is the gold that glitters in the eyes of fans, and that is enough to make them gleefully shell out a fortune for it. Apple is one of those brands that might...

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What’s Your True Financial Personality?

The handling of one’s money is not as simple as spending a part of what you earn and saving the rest. It will not come as any surprise that everyone has their own way of handling their money but what might come as a surprise to you is that each person’s handling of money depends a lot on their personality. An individual’s financial portfolio is more reflective of their emotions than anything else. The easiest way of finding out how a person handles their money is through the Myers-Briggs test that classifies people as extroverts and introverts and further...

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5 Initiatives Women Can Take To Empower Their Finances

Even though things are much better than they were before, there still is a gender inequality when it comes to women and finance. This inequality is not just because of the attitude of men towards women, but also because of the attitude of women towards themselves. Fortunately, Singaporean women are a bit different than the rest because surveys point out that Singaporean women feel financially secure than their male counterparts, and have a higher risk tolerance as well. The report of 518 Singapore interview subjects showed that 25 per cent of the women felt ‘very financially secure’ compared to...

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Mutual Funds vs Individual Stocks – 5 Tips to Help You Make The Right Choice

Do you usually fly solo or are you more of a team player? Knowing this about yourself can really help you while deciding whether you want to invest in mutual funds or individual stocks. A general notion about individual stocks is that it is more of a sophisticated domain that gives you greater control over your investment; however, mutual funds are not bad either as they have an ease that comes along with their usage. Truth be told, both of them are equally good investment options and their viability rides on your financial requirements. One could even venture to...

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Planning a Classy Wedding On a Frugal Budget

Marriage is a monumental turning point in the life of every individual, which is why society puts so much emphasis on making the event as unforgettably special as possible. Unfortunately, the materialistic roots in our culture have warped the interpretation of “special” and made it synonymous with opulent and fashionable. Young Singaporean couples already face the pressure from a buffet of financial loans and investment challenges by the time they get ready to tie the knot. It’s no surprise that many young financially savvy Singaporeans are opting out of the conventionally grandiose wedding party tradition in favor of a...

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Why Living in a Global Village is a Great Opportunity For International Investments

From the dawn of the internet savvy generation and information dissemination accessible at the tap of a button, the world has started growing smaller every passing moment. With international mergers and acquisitions happening all over the world, growing social media communication, and the warm embrace of a multi-ethnic community, Singapore has become one of the perfect examples of the term ‘Global Village’. We keep hearing people talk about how the world is turning into a global village with so much of information transcending borders. It has become easier for people to travel and explore other parts of the world....

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Why Financial Planning & Family Planning Should Always Go Hand In Hand

It is said that you never know true happiness if you are not a parent. One of the most beautiful experiences in life is to hold your bundle of joy for the first time in your hands. It is an experience that most of us crave for, which becomes the highlight of our lives. However, the birth of your child is an even bigger commitment than marriage and it is the most precious investment on can make. In a city like Singapore, the survival of human species is just as dependent on financial planning as it is on family...

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Is It Really The Good Life?

Most banks currently offer rewards for using their product, especially the credit card, but as a card holder, are you really enjoying the good life, or are you simply increasing your monthly cost? Credit cards are perfect for emergency use, but to make the most of the reward system, one would need to incorporate use of the card into their daily or weekly routine. To take full advantage of the rewards, you must select the card that best fits your lifestyle and spending pattern. Using a credit card that does not fit your lifestyle would have negative impact on...

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Learn to Say No to Borrowers While Dodging the Guilt Hammer

We’ve all dealt with our share of financially inept friends and relatives who prefer to live in their own short-sighted bubble or simply prefer lazing around mooching off someone else’s wealth. They may be good people, but lack the courtesy needed to be followed in giving and taking money. Unfortunately, this becomes quite a dilemma for those of us who are forced to cut past empathy with cold rationale. As a result, we often end up letting them borrow money from us knowing very well that it’s not going to be a loan. There may also be times in...

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Why Buying Travel Insurance is Not as Easy as You Think It Is

If you believe that life is short and the world is wide, that every adventure starts with a single step, that travel is the only thing you buy that makes your richer, or my personal favorite, Paris is always a good idea, then you are indeed a wanderlusting soul at heart. You believe that to find yourself, you need to get lost in the world, literally – it is like taking a journey into yourself. It is very rightly said that the world is a book and if you do not travel, you read only one page. It is...

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Post-Mortem Finances – Will You Leave Behind More Assets or Liabilities

Nothing in this world is certain except death and taxes. Although, we can learn to tackle our tax liabilities effectively over time, there is no room for personal damage control with the former. However, the legacy we leave behind is something we build in our lifetime that can endure even generations after we depart the world. Singaporeans have a hard enough time bearing egregious living costs and juggling home loan repayments, education loans, business loans, etc. to make ends meet that they completely overlook the financial consequences of death. It’s not just life insurance one needs to worry about,...

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