Author: SimplyJesMe

Money is the root of all evil

My friend’s wife literally forced him to take a part time job on top of his full time job so that they can have more money to spend. When he told us this, my jaw dropped literally. I really hope this is not the normal way of thinking because this is quite worrying. Instead of thinking of ways to save and cut down on your current spendings, you are resorting to a harder way which is to earn more. Instead of reflecting on your own lifestyle, you have to work longer hours just to sustain it. Even when you...

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How to buy SGX stocks

This is a common question that is asked by every new investors out there. So when my friends started asking this question, I am really happy because that means they are heading towards the right direction: Investing for income. First of all, let’s start off with SGX or Singapore stocks. You will need to open a CDP account and also a trading account. The minimum age is 21 years old to start trading online and do bring along your IC for registration. The main trading platforms are: Philips Security (POEMS) – Any of their investor centres UOB Kay Hian,...

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Simply Sales talk: Why everyone should try sales

Just for a short stint even if it will not be your life long career. Be it part time sales promotion or insurance or even MLM. The skills that you picked up will be the most applicable in life. Let me go on further as to what the advantages of doing sales are. 1) You will be better in communication Normally, sales people will have to come up with stories on why their sales numbers are better or worse than expected. Maybe it’s due to the economy or competitor’s marketing program. You will need to explain on why things happened....

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Welcome AMEX true cashback card

Last year, I also did cleaned up my finances for the New Year. This year is no exception either and it’s a good habit to get rid of unwanted things every year. Due to recent changes to the FRANK card where they require minimum spending of $400 for offline transaction, I cancelled it this year. I only started using it in 2014 so I am sad that I have to cut away the nice jelly bean card. There is no point keeping it since I will not be using it any more. Obviously I still have my OCBC 365 card so as to accumulate interests for...

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BOC Smartsaver vs OCBC 360

My friend alerted me to this BOC Smartsaver account and said that I am biased not to review on it. I think he just wants me to write it for his own consideration. Anyway, to be partial, I will comment on it and decide which is better for me. Introducing the Bank of China Smartsaver account: All the rules copy are the same as OCBC 360, even the $60k limit. What is different is only the interest percentage. As I mentioned before, these are the only 3 criteria that I can satisfy as mentioned previously: Credit salary: BOC (1%)...

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How oil prices affect us

The oil and gas industry has always been enjoying a high level of prestige. When anyone mentioned that they are working in that sector, straightaway people will know that it comes with at least 3 months bonus. At their peak, some oil companies here give out 8 months bonus which is common knowledge in the market. Now, I heard the standard is only 3 months bonus. To the consumers, hooray to the falling oil prices! A drop in oil price means some savings in terms of fuel for drivers, for electricity and other resources. There will also be lesser cost for importers and exporters due to lower fuel prices used...

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CPF in simple terms

What is CPF? A retirement fund that all Singaporeans and PR have to contribute every month so that you will not be a burden to society when you are old. The dream is to still be healthy What is in the CPF? OA – Ordinary account – For education, housing, investment purpose MA – Medishield account – For hospital bills SA – Special account – For retirement Can I withdraw when I immigrate or denounce my citizenship? Yes you can withdraw even if you are below 55 years old but only if you are not relocating to West Malaysia. If you are...

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Why I changed ILP to Term insurance

This is a thorny issue among everyone, especially so when you just graduated and started working. Turning independence means you will have to consider the expense that you will incur and health related expenses are the biggest worry. The scariest part is not the hospital but the bill! Medishield Life is a great plan to allay concerns about hospitalization fees and can also cover some outpatient treatment like chemotherapy and dialysis. However, they only cover B2 (6 bedder) and C (8 bedder) wards in government hospitals. For full coverage on A (1 bedder) and B1 (4 bedder) ward in government hospitals and also all other private...

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What is the CDP account for?

I was having a casual lunch chat with my colleagues on the stock market and was pleased that my first attempt to explain the concept of long versus short, call versus put option was successful. But asked a simple question on what the CDP account is for, I found myself tongue tight. It is… a depository to hold my stocks and… perhaps my holdings inside are guaranteed in certain ways? How ignorant was I! Very ‘malu’ to call myself a stock investor. I knew I had a CDP account from the start when I registered my first Philips Capital...

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Time to upgrade with MOOCs

I am in a comfortable position right now. I got a good job and not overworked. Right now, it’s the lull period where the sales figures are more or less fixed for the year and people are having holidays. It’s like the end of the business cycle and new development will be next year’s problem. Everyone is looking forward to collecting their bonus and busy slacking enjoying the rainy season. So of course, I have more free time. How else can you use this? Besides preparing the usual reports, and getting ready the numbers for next year, I have nothing much...

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Enjoy Yourself (It’s Later Than You Think)

Just finished watching the final episode of House and at the end is this classic song. It’s a cool ending to the show and really make me wonder about my rat-race life now. Now is the holidays seasons and this serves as a good reminder to all of us: By Guy Lombardo You work and work for years and years, you’re always on the go You never take a minute off, too busy makin’ dough Someday you say, you’ll have your fun, when you’re a millionaire Imagine all the fun you’ll have in your old rockin’ chair Enjoy yourself,...

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”I Chose Not to Have Kids—and Money Was a Big Reason”

Oh no, this was not said by me but by this article. I find it very interesting and was asking myself why our General Paper topics are not more like this. For the lazy bums, to summarize, this 50s lady chose not to have kids because: 1) She does not want kids even though she met someone in her 40s. They eventually broke off because her partner wanted kids. 2) She used her time and limited money in her career building up her own bookkeeping business 3) The extra time and money she used it to do something she...

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Work and Travel USA

Many people who went university always tell me that secondary/poly/JC school was one of their best times in their life and I always think that it is because these people did not know how to optimize university’s activities fully. I think I set a record by going for 4 freshmen camps consecutively for 4 weeks and made great friends there and had such a blasting great fun because of that. But nothing can compare to this. One of my best times in university was an opportunity to go Work and Travel. It’s a once-in-a-lifetime deal to leave your parents to...

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Delayed gratification vs excuses

“No time” “No money” “Too far away” “Can’t walk so much” “Nobody to take care of kids/pets/parents” “Don’t have so many days’ leave” Or just too many? Familiar things we hear, huh? These are all the excuses people give me when they complain that it has been xxx number of years when they last went travelling. To them, holidays is a far fetched idea that require careful planning and too much time and money that they cannot afford. These are the excuses they tell themselves so that they can blame those things on why they cannot have a break....

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Happy first birthday!

Still can’t believe I managed to churn out articles for one year. I was thinking I would run out of juice in 6 months but luckily, I did stay on long enough to mark my blog’s first year birthday! Thank you to my readers for the support and I am also lucky to get some extra bucks from Google Adsense. Some thoughts: 1) On Coftea The most popular post is not written by me… sigh. Haha but I am grateful for Coftea on writing this excellent piece – ‘Can HDB owners own a private condo‘, This topic has indeed...

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