Author: ValueChampion

Will You Really Need Travel Insurance For Your Next Trip?

Travel is often associated with relaxation, adventure and fulfilling wanderlust. However, amidst the positive associations we have with vacationing abroad, there are also stressors that can put a damper on our trips. Unexpected accidents, medical issues, trip cancellations and lost baggage are all common worries that creep to the forefront of our mind as our trip gets closer. In fact, around 9 out of 10 Singaporeans have relied on a travel insurance policy to quell these anxieties. But while purchasing travel insurance can be prudent, there may actually be times when it may not be beneficial. Below, we explore...

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3 Rewards Point Traps That Singaporeans Fall For

Today, consumers in Singapore can earn a variety of “rewards points” where ever they go. Not only do many credit cards in Singapore already provide a lot of points already, now some mobile payment apps are also touting their own rewards in an effort to attract more users. However, consumers should be more careful before signing up for a new card or a payment app just because they were enticed by flashy marketing materials promising a lot of rewards points. Mainly, there are three precautions people should take before making a decision. Not All Points Are Made Equal First,...

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6 Ways You Are Overspending on Your Smartphone

Singaporeans love their smartphones. In fact, the smartphone penetration rate in the country is already at 150%, an extremely high number that suggests an average person carried about 1.5 smartphone with him. Not only that, Singaporeans spend a lot of time and money on these devices. For example, a study from 2017 found that Singaporeans spend over 12 hours on smart devices per day, while devices and mobile plans themselves can cost over a thousand dollars per year each. Given the significance of this technology in everyone’s life, smartphones also represent a potential source of big gains and savings....

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Should You Really Use Premium Petrol for Your Car?

Cars are one of the most valuable personal possessions in Singapore. Due to the high import duties and other taxes imposed on automobiles in the country, an average car can easily cost more than a S$100,000, while luxury cars can easily cost upwards of several hundred thousands of dollars. Given this, it’s not surprising that some carowners feel compelled to only use premium petrol on their prized possessions. But, are high-octane grade fuel really worth the extra cost? Only Engine Capacity Above 2,000 CC Are Worth Fueling with Premium Petrol According to our calculation, only ultra-premium cars with engine...

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3 Types of Products That Are Always Overpriced & How to Avoid Them

People go through their lives purchasing an uncountable variety of things, from little things like food to big purchases like an apartment. In most cases, people pay a lot of attention to different factors like price, quality and value of the items before making their purchase decisions. However, there are 3 kinds of products that will always be overpriced no matter what you do. But, consumers still have an ability to make certain choices to pay more reasonable prices for them without forgoing quality. Emotional Purchases The most common form of “overpriced” goods tend to be items that consumers...

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4 Holidays Left for Singapore: 3 Simple Ways to Save on All Your Vacations in 2018

For Singaporeans, there are 4 public holidays left in 2018: National Day on 9 August, Hari Raya Haji on 22 August, Deepavali on 6 November and Christmas on 25 December. As most of these fall on a Thursday or Tuesday, they are also great opportunities for diligent workers to take long-weekend vacations simply by taking 1 day off. Still, given that the average cost of a vacation in the ASEAN region could range from several hundred to over a thousand dollars, one’s ability to travel for fun may be more restricted by financial budget than vacation days available for...

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4 Signs That the Stock Market Might Be Peaking Out

The global stock market has been on fire in the past year. Most of the major indices around the world like the S&P 500, Hang Seng Index and Nikkei 225 have all gained 10% in the past 12 months, and even normally “boring” markets like Korea and Singapore have gained significantly since 2016. But, there are signs in the economy that may suggest that this bullish run may not have much juice left in it. Here, we discuss 4 signs that investors around the world should heed before putting more money into the stock market. We’re About 1 Month...

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How Worried Should Your Small Business Be About Cyber Security?

Cyber attacks have become an increasingly common for individuals, governments and businesses. Small businesses are particularly vulnerable. In fact, 35% of SMEs in Singapore were attacked by ransomware in 2016. Furthermore, only 1 in 10 SME directors felt very confident that they could stop an attack. With that said, how worried should you be about cyber security threats to your small business? And what steps should you take to protect your company? Understanding the Threat: What Are Ransomware and Phishing? In 2017, 2 in 5 cyber attacks were on SMEs. Most of these attacks come in the form of...

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4 Things Millennials Must Do to Become Millionaires

According to a recent survey by TD Ameritrade, 53% of millennials believe that they will become millionaires. But, we all know that hard work alone isn’t always enough to become wealthy. To be financially successful, you need to meticulously plan ahead, take risks, work hard and get lucky. Don’t Look for a Passion, Look for Something You Are Good At Many career advices will often suggest people to combine their career and their passion. However, this is often highly unrealistic and actually counterproductive for a number of reasons. First, mosts people will never really realize what profession they are...

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Are Singapore's Millennials Financially Irresponsible?

Known for their love of avocado toast and social media, millenials are often criticised for not being financially savvy or forward thinking. Not only that, they expect to retire earlier than older generations despite expecting to live longer. But how do their financial habits really compare to other generations? And how do Singapore’s millennials compare to young people around the world? How Do Millennials Compare to Other Generations in Singapore? According to Credit Bureau Singapore, there is evidence indicating that millennials are less financially responsible than other generations. For example, millennials are more likely to be behind on their...

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How Much of Your Income Should You Spend on Housing?

Whether you’re a young professional renting your first flat or experienced homeowner considering a new home purchase, it can be hard to know how much money to spend on housing. In this article, we outline some basic guidelines to help you estimate how much you can afford to pay for your home. General Rule of Thumb: Housing Costs Should Not Be More Than 30% – 40% of Income Experts typically suggest that you should spend no more than 30% to 40% of your gross monthly income on housing. These limits are designed to allow room for expenses for basic...

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4 Worst Parts of Business Trips and How to Make Them Better

While travelling for work may sound cool to recent graduates, frequent business travellers know just how painful business trips can be. In fact, a recent study conducted by Columbia University found that people who travel for work more than 21 days per month are more likely to become obese and depressed than those sho travel less than 6 days per month. To ease the detrimental effects of business travel on people’s physical and mental health, the study states that people need to take “responsibility for the decisions they make around diet, exercise, alcohol consumption, and sleep.” However, from personal...

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This Is How Long You Have to Save for Your Wedding in Singapore

Weddings in Singapore can be a costly affair, easily costing anywhere between S$14,000 to S$54,000, if not more. Not only that, wedding banquet prices alone have already increased by more than 50% between the years 2011 and 2017. If you are planning to exchange wedding vows soon, how long should you have to save in order to afford the banquet you’ve always wanted? How Long Couples Have to Save for Their Wedding According to our calculation, an average couple in Singapore could expect to save for about 1 to 3 years for their wedding if they were to fully...

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Can Energy Efficient Appliances Help You Save Money?

For the last few years, “sustainability” and “environment friendly” have been some of the hottest buzzwords around the world. Still, many people may still feel some wariness towards “going green” due to the fact that it may cost more and could be less convenient than what people are used to. But, what if green lifestyle could actually be more economical than non-green one? If this were true, consumers actually could help reduce the society’s carbon footprint while also saving money for themselves. In fact, our analysis shows that energy efficient appliances actually are cheaper than regular appliances over the...

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5 Life-Saving Benefits That Will Make You See Travel Insurance in a New Light

Travel insurance can seem like a necessary evil, especially when the cost of a vacation for an entire family can cost up into the thousands. However, travel insurance has some lesser known benefits that can turn into life-saving features should you ever run into certain costly but rare emergencies. Whether it’s being covered for a trip cancellation after a terrorist attack at your destination or coverage for your child to have a family member with them while you recover from an accident, below you’ll find some of the most overlooked but life-saving features travel insurance can offer. Coverage for...

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