On the first day of Temasek Foundation’s mask distribution exercise, more than 100,000 households have collected their free N95 respirator and medical grade surgical masks. These masks are standard adult size.
The collection spans from August 26 to September 26.
WHERE CAN YOU COLLECT?
Singapore residents can collect 25 pieces of N95 respirator masks and 50 pieces of medical grade surgical masks at 15 CapitaLand malls and selected Cold Storage, Sheng Siong, FairPrice Xtra, Prime Supermarket, and Giant outlets.
There is a total of 131 collection points throughout the country and some collection points have employed the digital queuing system. As a friendly reminder, not all supermarket outlets are considered as collection points. Check out the participating outlets at stayprepared.sg.
WHAT IS THE DIGITAL QUEUE SYSTEM?
Eleven out of fifteen CapitaLand malls have activated the digital queue system. You can be added to the queue at these selected malls: Bedok Mall, Bugis Junction, Bukit Panjang Plaza, Funan, IMM, JCube, Junction 8, Lot One, Plaza Singapura, Tampines Mall, and Westgate. With this system in place, you do not need to stand in line to wait. Simply read the notification that alerts you to collect your masks. You can also check the length of queue through the system. Signing up for the digital queue will allow you to catch up on your other errands.
Go to getq.capitaland.com to snag an online queue number and to get notified on your phone when it is your turn to collect.
WHAT DO YOU NEED TO BRING?
You need to bring two important things when you are about to collect your free masks. Firstly, please have your SP Group bill (i.e., digital, or physical copy) ready or provide your residential account number at the collection point. Secondly, you must bring a sturdy bag. This bag needs to be big enough to carry up to three boxes of masks. No bags will be provided at the collection point.
WHY ARE THEY GIVING AWAY FREE MASKS?
Temasek Foundation aims to help the Singapore residents in their fight against COVID-19. It said this in an earlier statement: “It is important to have better masks ready for higher risk situations. For example, residents with flu symptoms should put on a better mask such as a medical-grade surgical mask to go see a doctor.”
Image credits: unsplash.com
The Foundation added that people who have tested positive for COVID-19 at home with an antigen rapid test kit should put-on higher-grade masks like an N95 respirator when going to the doctor for confirmatory COVID-19 tests.
Personal debt among young Singaporeans have been rising during the COVID-19 pandemic and the situation could turn sour once the interest rates start to rise.
Recent Credit Bureau Singapore data showed that people in their twenties have been taking on increasing amounts of other debt since the second quarter of 2020. The data manifested that the average personal loans and overdraft balances for those under 30 elevated by about 23% in the first quarter of this year over the last three months of 2020.
To illustrate, the average personal loan and overdraft balances for borrowers aged 21 to 29 increased to S$49,689 in the first quarter of this year. This is about 42% higher than the average of S$34,941 in the first quarter of last year.
It is important to note that the borrowing limits in Singapore were capped in 2015 to help keep unsecured debt in check. Experts say that the higher debts observed recently could have been fueled by the low interest rates among other factors.
RISE OF UNEMPLOYMENT
Last March, the unemployment rate among residents below the age of 30 was 6.4 per cent. Unemployment and lower earnings could be the reasons why young adults take personal loans and overdrafts. They try to borrow their way out of the crisis.
“If it is due to youth unemployment, it is often transitory. And the Government already has the SGUnited Traineeships programme and other relief to help young people and help small firms hire young people.” – Singapore Management University’s Associate Professor of Finance, Mr. Song Changcheng
LACK OF PERMANENT JOB
Ms. Selena Ling, OCBC Bank Chief Economist, said that the impact from rising personal debt among younger people will depend on when things turn around in terms of their professional life.
She added: “If subsequently they can find permanent jobs, then they can pay off the debts. But if the duration is extended, then loan delinquency or default rates may rise.”
MANAGING YOUR DEBTS
Awareness of your overall debts and assets is the first step. Include every document, billing statements, loans, and mortgages you have. Take immediate action when you notice that your debts are getting harder to manage.
After seeing the bigger picture, it is time for you to reduce your expenses. Cut down unnecessary expenses such as designer bags or artisan coffee runs. Add the minimum payments of your debts and the cost of your necessities to your monthly budget. To aid your realistic budget, you may sell your unused or underused items online.
Image credits: unsplash.com
Lastly, you can seek professional help. Start by seeking help from your family and friends. Then, consider hiring a professional to reduce your interest rates and penalties at forgiving timeframe.
A car loan is perhaps one of the best loans to be ever created by lenders. It allows you to finance a vehicle easily that can help you cut down on commute costs in the long run. If managed properly, you will end up a proud owner of a new or used car. However, if you mishandle the loan and make delays in the monthly payments, you might end up in emotional and financial stress.
You could be struggling to reach a decision. We are sharing a list of pros and cons to help you make an informed decision.
Pros
You Get a Card Without Paying a Dime Out of Your Pocket
Technically, the car you buy is paid for by the bank. Financing this loan 100% has now become a common practice. Not everyone can buy a car no matter how much money they have in their savings account. Hence, a car loan is such an attractive option.
It Improves Your Credit History
Unlike small loans that don’t add much to your credit score, a car loan allows you to improve your credit history. As long as you keep making the monthly payments on time, you will see your score increase gradually. The improvement in your credit score will help you get approved for a home loan later.
Low Rates
In most cases, a car loan is secured. Banks or lenders, such as Jacaranda Finance, typically offer a 5-year term. On a $25,000 loan at a 3.5% interest rate, you will only have to pay a few thousand dollars. Plus, with the extended period, you can divide the payments either by weeks or months.
Tax Deductions
If the car you purchase is for business, the cost of running the car and its interest payments will be tax-deductible. Your claim for the business portion cost depends on how the car is used for work-related errands.
Cons
The Bank Owns the Car Until Your Make the Full Payment
A car loan is secured where the collateral is the car itself. Meaning: if you fail to make the full payment, the lender or bank will repose the car. This could also affect your credit score and leave a negative marking on your credit history.
Depreciation
As time passes, your car’s value depreciates. The depreciation rate depends on the model of the car. In some cases, the remaining amount of the loan is higher compared to the car’s market value, which means you are paying more than its price tag. If you decide to sell the car and get another one, you will have to cover the difference between what you make from the car’s sale and the remaining loan amount you owe to the lender, and this can pose a problem.
So, you now know all the intricate details of a car loan. The pros outweigh the cons, which, in our opinion, makes the loan a great option. Just imagine getting in your car every morning rather than waiting for the bus and then finding no seat.
Mums with babies, we feel you. Parenting is a consistent rush, and these kids grow up really fast!
In a blink of an eye, they start crawling, and before you know it, they are taking their first steps. As your little ones transit from their baby moments to toddlerhood, you might find that it’s not easy to put them down for a short sleep.
When your baby is a few months old, maybe you found it easier for them to sleep for two hours straight after their milk routine. As they grow a year old, their nap time might be reduced to an hour instead. If so, go with the flow and adapt according to their physical needs. Forcing a child to sleep more when they don’t want to can backfire and make them resist even more.
Stick to the same nap time
Image Credits: ovuline.com
Humans are habitual creatures, and so is your toddler. Once you’ve adapted to your child’s physical needs and found a pattern for their sleep, stick to it.
While you don’t want to force a kid to take a nap, waiting till they are overly exhausted and start crying is not ideal. Remember, the more regular their sleep pattern is, the less they will resist since their bodies are used to the same daily schedule.
Create a peaceful environment
As adults, we are often told not to look at our phones, laptops, or watch television programmes right before bedtime. Similarly, your toddler needs to stay away from stimulating activities before they can calm their mind and body.
You can create that peaceful environment for them by allowing them to engage in relaxing activities. It could be playing soothing instrumental music in the background or reading them a bedtime story. Do this at least 10 minutes before their usual daytime nap period.
Make sure they stay in bed
Image Credits: healthline.com
Perhaps you’ve tried all the above, but your toddler just won’t nap. Worse still, they start wailing, and you begin panicking. If that happens, do not be too quick to remove them from their bed. Pat gently and comfort them using a reassuring voice.
What most parents fail to do is to make sure they stay in bed. The rationale behind not giving in is so that they understand that a nap is inevitable. When you start breaking the routine and bring them out of bed when they cry, you will have a hard time putting them down for a nap the next day and in the future.
As we come to a close, be well aware that there is no one correct parenting method since every child is unique in their ways. Try the abovementioned methods to see if they work and if they don’t, make tweaks accordingly! No one knows your child better than you do.
So you want a mid-career switch? Or you’re in the midst of considering jumping into a different field? Kudos to you for even having the courage to want to take a step forward.
But hold your horses because you will have to find your ikigai (ee-key-guy) first. In short, ikigai is a Japanese concept referring to “finding joy in life through purpose”. You can read more about the philosophy of ikigai here.
According to Adrian Tan, a human resource practitioner, folks thinking about a mid-career switch should approach the matter via the ikigai concept. These are the main elements that make up the idea:
Amanda Tan is the name to note. The 34-year-old recalled her experiences of frequently visiting the vet because of her pet cat. She said she was impressed with how knowledgeable the doctor was and how meaningful the profession helped pet owners like her gain reassurance.
Dr Tan took the leap of faith in her mid-20s and is now a veterinary surgeon at the Gentle Oak Veterinary Clinic along Ghim Moh Road.
At this point, some of you must be thinking if Dr Tan had some prior qualifications to becoming a veterinary surgeon. Well, the quick answer is no.
After Dr Tan left journalism, she took on a part-time job that provided her with volunteering opportunities at a veterinary clinic. The valuable hands-on experience thus led her to the decision to move forward with the career switch.
She then furthered her studies through a five-year Doctor in Veterinary Medicine course at Murdoch University in Perth, Australia.
“Whatever effort that you put in is going to directly affect your outcome. You’re not too old to make a change… It just requires a bit of sacrifice and courage,” she noted.
Dr Tan also mentioned that she had met a few colleagues who graduated in their late 30s after a mid-career switch. Hence, don’t let age become a stumbling block for you to take that next step forward.
Still unsure if you should risk your current job stability? Read on for Mr Law Kia Wei’s story.
A switch from engineering to sales
Image Credits: Mr Law Kia Wei
What prompted Mr Law to switch to sales is his realisation of a missing essential soft skill – interpersonal communications. Therefore, when he was presented with an opportunity to become a medical equipment salesperson at IDS Medical Systems, he took it in stride.
Of course, not without a little hesitation because he lacked both sales and medical field skills.
The 36-year-old said he did not have it easy for the first year. He struggled a great deal before getting into the hang of things. Seven years have passed, and he now has his own business unit at the same company.
Ready for a pay cut?
Image Credits: hcamag.com
Yes, we have not forgotten about the drop in salary. “If you jump industry, it’s expected since you have not proven yourself. It was something I had to make peace with,” Mr Law shared.
To that, Ms Carmen Wee, a veteran human resource practitioner, highlights that the salary crawl could take a few years. Thus, the risks and financial trade-offs for a younger professional might be lower than for someone older. One should also factor in their current financial commitments and the readiness for drastic lifestyle changes.
Ms Wee also added that older workers should be realistic about the level of seniority that they can achieve as they make a job jump. Since it will take a while to catch up, she advised mid-career switchers to do their due diligence in the new field. Remember that you are in competition with other people who already have the relevant experience.
But with all that said, Mr Tan encourages older workers not to be discouraged. “If you’ve done logistics but wish to get into marketing, what are the things you learned in logistics that are applicable? Perhaps it is the way you plan things, which can be applied to a marketing department running a webinar?” the HR professional remarked.
Final thoughts
Cameron Brett, Managing Director of Randstad Technologies in Japan, suggests, “Something I recommend for everyone is to do a skills assessment – to better understand where they are today, where they need to be in five years. Take a look at the skills they currently have and what they are lacking.”
You can easily find out your strengths and weaknesses with an online test using the Career Explorer or Myers-Briggs Type Indicator (MBTI). The results could be your answer to your next career move based on your aptitude and interests.
Next, find a reliable mentor or someone you look up to. LinkedIn is one good way to reach out to professionals in a specific field. Connect sincerely and ask for practical advice so you can decide for yourself if a switch makes sense for you.
Before you go, allow me to quote from an article, “It’s never too late to give it a try. Changing careers at 40 is not uncommon. 40s are the new 30s. 30s are the new 20s.”
Here’s wishing you the best of luck in taking that plunge!
