Author: ValueChampion

Want to Save More in 2020? 5 Ways to Resist Consumerism and Spend Less

We live in a culture of consumerism. Advertising has long proven to be effective in persuading consumers to buy products in increasing amounts by appealing to their social, emotional and functional needs. Unfortunately, rampant consumerism fueled by constant advertising impacts more than our shopping habits. Consumerism has led to a “throwaway culture” that wreaks financial havoc on individuals and leads to negative environmental impacts. However, research suggests that “consumers are not always open to advertising”. As consumer behaviour evolves and mindful spending gains popularity, people have started to favour methods of avoiding advertisements like skipping ads on YouTube or...

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Signs That You’re Paying Too Much For Your Home

When it comes to your personal finances, there’s nothing as frustrating as finding out that you’re overpaying for something. This frustration can turn to serious worry if you’re overpaying for something as significant as your home. In this article, we identify some warning signs that you might be overpaying for your home, as well as ways to decrease your total cost of home ownership. Housing Expenses Exceed 30% of Budget In general, experts tend to agree that individuals should spend about 30-40% of their income on housing. For homeowners, it is important to make sure that this figure includes...

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3 Ways to Save on Your CNY Reunion Dinner

With the Chinese New Year (CNY) just around the corner, many families will be looking forward to tucking into a sumptuous meal with their loved ones for the traditional annual reunion dinner. However, things may be different if you’re responsible for hosting the dinner. While it may be nice to catch up with relatives you don’t get to see often, having to whip up a suitably lavish feast for so many people can prove taxing on your wallet. To help you enjoy the CNY traditions and festivities without fretting over your budget, we’ve identified three ways you can save...

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Are You A Digital Nomad? Here are 4 Affordable Cities You Can Live in

The Internet has given people the opportunity to make a living using telecommunication technologies, work remotely from foreign countries and move from city to city on a whim. “Digital nomads”, mostly self-employed writers, artists, programmers, consultants or even stock traders/investors, are people who have taken advantage of these opportunities. Unrestricted by traditional office spaces, they can be found moving from place to place to gain a solid client base and experience. For young workers living in an expensive city like Singapore, where monthly living expenses cost a total average of S$1,210 before rent, becoming a digital nomad and escaping...

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Easy Ways to Make Your New Year’s Resolutions Affordable in 2020

With 2020 around the corner, you may already be drafting up your New Year’s resolutions to take stock of this past year and set goals for the next one. However, in addition to being notoriously challenging to keep, many resolutions–such as learning a new skill or committing more time to self-care–can end up being quite costly over the long term. Thankfully, there are several strategies you can make use of to fulfil your New Year’s Resolutions without dipping too far down into your wallet. Here’s how you can save on a few of Singaporeans’ most popular resolutions. Get to...

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Freehold or Leasehold Properties: Which Are Better?

Purchasing a home is a major investment. Therefore, just like any other asset, it is crucial to thoughtfully compare your options before making this significant financial decision. For property owners in Singapore, it is important to understand the difference between freehold and leasehold properties. In this article, we examine the differences between these types of homes to help prospective buyers make an educated decision. What Is the Difference Between Freehold and Leasehold Properties? Before we get to the nuts and bolts of this subject, let’s begin by understanding what ‘freehold’ and ‘leasehold’ mean in Singapore. With a freehold property,...

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How Much Do You Need to Spend on 2020’s Top Interior Design Trends?

A new year often comes with desire for change, improvement and new adventure. This sentiment doesn’t escape your home, with new interior design trends making their mark on the first year of the new decade. Predictions from the top interior design magazines and stylists include curved spaces, bold walls and incorporating natural materials. While some of these are easy to expand on as they were already trendy in 2018 and 2019, others may require a bit more work. For people who are looking to renovate their homes in 2020, we’ve rounded up 4 commonly predicted interior design trends and...

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5 Easy & Affordable Meals That Will Stretch Out Your Grocery Budget

With plenty of inexpensive options for eating out in Singapore, most busy professionals would rather have their daily meals at hawker centres for S$3 to S$5 per meal. According to the 2018 Nielsen Out-of-Home Dining Survey, “close to one in four” respondents eat out daily, with dinner being the meal most consumed outside of the home. However, constantly eating out is an expensive habit, with Singaporean households spending an average of S$9,722 per year on dining. While dining out is more convenient than grocery shopping and cooking for the busy worker, the money saved from preparing meals that can...

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3 Affordable Alternatives to Store-Bought Gifts this Christmas

Do you immediately think of material items when it comes to picking Christmas presents for your loved ones? If so, you may be doing yourself a disservice. Not only are physical presents pricey, they also tend to miss the mark. According to a 2015 Rakuten Shopping Secrets survey, more than a third of the Singaporeans surveyed didn’t like their gifts, and many people (44%) gave items they received to someone else, or just threw them away. So, this year, rather than spending money on physical goods that might end up being underappreciated anyways, why not consider the following affordable...

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7 Important Forex Tips for Retail Traders

For individual investors, there are many reasons to consider diversifying one’s portfolio by entering foreign exchange trading markets. To be successful, it is important to have a thorough understanding of the basics of forex trading, as well as to adhere to a well-planned strategy. In this article we explore some ways that retail traders can make the most of their forex trading experience. Education Before Investment The first step to being successful as a forex trader is to become proficient in the ins and outs of foreign exchange markets. Beginners should look into educational materials, such as ValueChampion’s free...

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Investing In Sneakers: What Factors Drive Up The Resale Value?

The sneaker resale market is projected to grow to $6 billion by 2025, with some sneakers are being sold at prices as high as $50,000 USD. Part of the reason sneakers can be so expensive is their rarity – Kanye West’s limited edition Yeezy models, for example, sold out in less than 2 hours. As such, consumers who failed to buy one through the official channels have to resort to resale markets. In turn, this incentivizes sneaker investors to place a premium value for the sneakers on the resale market. Using the popular Yeezy Boost 350 V2 as an...

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Single and Living with Parents: Is It Possible On a $600 Monthly Budget in Singapore?

While most young adults can’t wait to leave their parents’ home and start a life on their own, it’s tough to do so straight out of university in a city as expensive as Singapore. In fact, despite the growing trend of millennials moving out before marriage, Singstat shows that only 14,100 citizens younger than 35 were actually living alone in 2018. Instead, most young adults decide stay with their parents to save enough to purchase a flat, with many citing financial constraints as a primary reason for not moving out. So what would be a realistic budget if you...

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Missed Black Friday & Cyber Monday Sales? Here’s How to Save on Your Last-Minute Holiday Shopping

Every year, you promise that you won’t wait until the last minute to do your holiday shopping, but once again, it seems that you’ve missed out on both Black Friday and Cyber Monday sales and you haven’t bought anything on your Christmas list. Does that mean you’ve missed all the good deals and will have to fork out full prices? Thankfully, no. There are still a few places you can get your holiday shopping done while still managing to save at the same time. Here are three of them. Department Stores Hold Extended Year-End Sales In light of the...

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Could You Be Saving More on Your Income Taxes?

As we progress in our career, it’s natural that our chargeable income increases, which is likely to result in higher income tax. Fortunately, you can reduce chargeable income effectively by understanding the different tax relief schemes available. Current Tax Rate In Singapore Singapore has a progressive personal income tax ranging from 0% at its lowest to 22% at its highest, where those earning less than S$30,000 per year are taxed the least and those earning S$320,000+ are taxed the most. In terms of calculating taxes, rates are typically split. A base amount of income is charged a fixed amount,...

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ValueChampion Student Interview Series: Betty Pu, Yale-NUS College

Betty Pu, who hails from Canada, is a Philosophy, Politics, and Economics major at Yale-NUS. Betty is a high achiever. In 2017, she co-founded and was the inaugural president of Yale-NUS Women in Business, Singapore’s only undergraduate Women in Business organisation. She has also established collaborations with Bloomberg, Goldman Sachs, Point72, and 100 Women in Finance, and organised highly successful events such as the Women in Finance conference. Did you ever consider studying in Canada? Yes. I was admitted into Canada’s top two business programs – Western University’s Advanced Entry Program (AEO) into their Richard Ivey School of Business,...

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