Managing your finances together is one of the most important roles you partake on in a marriage.
Differing views and attitudes towards money can pose issues to a relationship. For instance, you may seem frugal to others and stingy to her. If you both live beyond your means and spend lavishly on each other, you might find yourselves trapped in debt. There is time to change. Planning ahead as a team can help you build a strong foundation for your marriage.
1. GETTING TO KNOW EACH OTHER
Get to know each other’s financial beliefs and spending habits. Understand where your partner is coming from and adapt if necessary. If your partner is a spender, agree on establishing some limits. If your partner is prudent, agree on the things you would like to prioritize. Make your expectations clear to arrive on the same page.
“The handling of finances is one of the major emotional battlegrounds of any marriage. Lack of finances is seldom the issue. The root of the problem seems to be an unrealistic and immature view of money.” – David Augsburger, The Meaning of Money in Marriage
2. DELEGATING FINANCIAL DUTIES
Assess the differences in your income and money management strengths to determine how to divide the financial duties. Delegate the person who is financially savvier to take the role of managing your family’s investment options. While, the person who is better at budgeting can take charge of managing the household bills. Take advantage of each other’s strengths and fill the gaps in between.
3. PROVIDING SOLELY FOR YOUR FAMILY
For families with a sole breadwinner, it is practical to maintain an adequate emergency fund to withstand unexpected financial woes. Please consider the number of dependents when finalizing the amount of money to be set aside.
Single income couples should consider helping each other in terms of their CPF responsibilities. You can top up your spouse’s CPF account, especially if he or she has low CPF balances. You can transfer your CPF Ordinary Account savings after setting aside the Basic Retirement Sum in your own CPF account.
4. SHARING BANK ACCOUNTS
There is no one size fits all! Your household arrangement depends on your marital assets, income levels, and financial commitments. Think about which expenses you want to keep separate and which you want to share. You open a joint account for their household bills. Set aside a specific amount monthly to grow your joint account together. Meanwhile, you can keep your own individual accounts to fund your own spending.
5. AVOIDING FINANCIAL INFIDELITY
Financial infidelity refers to hiding financial information behind your partner’s back. Failing to mention a significant expenditure to your spouse may cause problems in the long run. Top money lies include under-declaring one’s income or hiding one’s debts. Such dishonesty can diminish the level of trust between a couple.
6. WORKING ON SAME FINANCIAL GOALS
Find a way to work on shared financial goals. Agree on the amount of personal contributions depending on your income. Some of the common themes that most financial goals share are having a budget, living frugally, getting out of debt, and having a good credit score. Do not forget to save for your emergency fund and retirement plans.
Creating customer avatars for your business should be part of your marketing plan. Remember that you want to nudge a lead or customer to the next level by smartly employing digital marketing.
Many start-ups deal with cold prospects in the beginning. To convert these cold prospects to fans and beyond, identifying your ideal customers’ profile is necessary.
This is where a customer avatar comes in handy. A customer avatar can also be referred to as a target audience for the laymen. We will use it interchangeably in this article.
Give life to your avatars with these components
To help you better understand your target audience, you want to give life to your avatars.
Tackling these components are useful – know their goals and values, the platforms they source for information, and their demographics. It’s also wise to think through the potential reasons why your avatars would reject your product or service.
There are many ways to gain the abovementioned information. You can conduct a study, schedule surveys, or have conversations with members of the public. But lest you think it’s do or die, that’s not true.
Go ahead and make the first cut while trusting your assumptions about your target audience. Once you have done enough research and gathered results, fine-tuning is all it takes to move forward.
Find your niche with the “but no one else would” trick
Let’s zoom in on the finer details with the “but no one else would” trick. This trick will allow you to choose the right tools, platforms, and influencers to engage.
Take a look at these sentences:
My target audience would read [name of a book], but no one else would.
They would subscribe to [name of a magazine], but no one else would.
The company’s ideal customers would attend [name of a conference], but no one else would.
By answering the above, you will filter and narrow down on some hows and wheres of marketing. The main idea here is finding your niche, so it’s extremely targeted. You won’t want to be wasting any of your marketing dollars, right?
Use different customer avatars for various campaigns
Throughout the lifetime of your business, you will be running several marketing campaigns in a year. No one campaign should be precisely the same as the other.
If you’re simply using the same profile for each of your campaigns, you will quickly realise that it doesn’t work. To craft personalised content and offers, you need to establish who you’re marketing to.
Knowing your target audience will help you deal with the rest of your marketing components, including the type of content to produce, the social media sites to use, and what kind of advertisements you should buy.
Taking a little break in between your festive shopping? Rest your legs and tuck into these mains below $10 in shopping malls! Be it your neighbourhood malls or those in town, North or West, with 5 different cuisines to choose from – Thai-Indo, Japanese, Chinese, Local and Vietnamese – be spoilt for choice. Only one red note is needed to fuel up your tummy, don’t say bojio with this list of good value eats in the comfort of a mall!
1. Bali Thai
A perfect fusion of Thai and Indonesian cuisines, Bali Thai definitely does not disappoint. Slurp on the spicy Tom Yum Soup ($7.50), or chow down the XO Fried Rice ($9.80) or Nasi Goreng Buah Keluak ($9.80)!
Locations: Causeway Point (#05-05), IMM Building (#01-21), NEX (#02-13), Suntec City (#B1-121A/121B), Waterway Point (#B1-13), Ngee Ann City (#05-29)
2. White Restaurant
Tuck into The Original White Beehoon (S: $7, M: $12)! Originally prepared as a homely dish by founder Mr Tay King Huak for his family, the dish today has developed into a well-loved dish by all. White Restaurant’s inimitable homemade broth is simmered for more than 8 hours with a combination of chicken feet and bones to extract the sweetness and nutrients. To achieve the fragrance of ‘wok hei’ that all Singaporeans love, this tasty broth is then used to stir-fry the beehoon plate by plate under careful controlled temperature, timing and the right amount of broth.
Locations: Causeway Point (#05-05), IMM Building (#01-21), NEX (#02-13), Suntec City (#B1-121A/121B), Waterway Point (#B1-13), Ngee Ann City (#05-29)
3. Wee Nam Kee Chicken Rice
Each plate of Wee Nam Kee’s Chicken Rice ($5.20) comes with tender, lean chicken, fluffy rice and a fragrant bowl of soup! Choose between the Steamed / Roasted Chicken / Roasted Pork / BBQ Pork in the Vegetable Set ($7.50) and the Dumpling Set ($8.30).
Locations: SingPost (#B1-125), Changi City Point (#B1-35), Jurong Point (#B1-60/61), Northpoint City (#B1-52)
4. Ah Chiang’s Traditional Porridge
Tuck into the well-loved favourites such as the Mixed Pork Porridge, Pork Ball Porridge and Sliced Meat Porridge! To ensure the best quality, all ingredients used are fresh and not frozen. The Mixed Pork Porridge boasts fresh pig liver, pig intestines and pork slices that are cooked to perfection; The Pork Ball Porridge is made with freshly hand-kneaded pork balls for a smooth and springy texture. The sets with 2 sides and you tiao retail from $8.50 – $9.50.
Location: Hillion Mall (#01-15/16)
5. Newspaper Curry Rice
You won’t find any shortcuts or instant curry powder here: all of Newspaper Curry Rice’s sauces and recipes are made from scratch, including the homemade sambal, and of course, their signature curry, which contains blue ginger, chili, curry leaves and freshly-ground pepper. Indulge in the Mama Wee’s Hainanese Curry Chicken Drumstick Set ($7.80) or the Mama Wee’s Hainanese ‘Kou Rou’ Set ($8.80)!
Location: Hillion Mall (#01-15/16)
6. The Hainan Story
Looking for some Hainanese Delicacies? Look no further! The Hainan Story has the following up for grabs: Hainanese Claypot Chicken ‘Char Siew’ Rice consisting of Chicken ‘ char siew’, chinese sausage, mushroom, scallion ($8.50), the Chinese Claypot Ee-fu Noodle Soup with Minced pork, sliced pork, mushroom, prawn, lala clam, vegetable, egg ($8.50) and the Laksa with Hainanese Steamed Chicken ($8.50).
Location: Hillion Mall (#01-15/16)
7. Monga Fried Chicken
Calling all fried chicken lovers! Pair your favourites with rice in the Monga Crispy Chicken Rice Box consisting of fragrant chicken rice, 2pcs crispy fried chicken and achar ($6.90). Prefer nuggets instead? Opt for the Monga Nuggets Chicken Rice Box with fragrant chicken rice, 6pcs monga nuggets and achar. Don’t miss out on the 2pcs Combo too, which comes with Sweet Potato Fries, and a Soda ($8.90)!
8. Tim Ho Wan
Supplement your dim sum meal with Noodles and Congee at Tim Ho Wan! Opt for the Pork Congee with Century and Salted Eggs ($6.00), Hong Kong Style Wanton Noodle (Soup/Dry) ($7.80), or the Hong Kong Braised Beef Noodle (Soup/Dry) ($9.80).
Locations: Aperia Mall (#0101/02/03), Citylink Mall (#B1-63/63A), Great World City (#01-139), Jewel Changi Airport (#02-223), Marina Bay Sands (#B2-02/03/04), Plaza Singapura (#01-29A/52), Suntec City (#02-389/390), Waterway Point (#01-62), Westgate (#01-13/14), 18 Tai Seng (#01-36)
9. LeNu
Affordable yet remarkable, LeNu is a casual Chinese noodle bar that strives to achieve perfection in every bowl to delight all diners at an affordable price. Opt for their selection of dry noodles: Pork Wanton in Chili Vinaigrette Dry Noodle ($9.80), Dried Shrimp and Scallion Dry Noodle ($6.50) or the Braised Pork Rib with Scallion Dry Noodle ($9.90)!
Locations: Bedok Mall #B2-10 Bugis Junction #B1-22Compass One #03-05, Funan #B1-22, Jurong East Mall (JEM) #B1-11, Jewel Changi Airport #04-244, Northpoint City South Wing #B1-101, Resorts World Sentosa #B1-201, VivoCity #02-91
10. Ya Lor
Have you tried Ya Lor’s Signature Braised Duck Rice ($7.10)? Featuring the Original Sean Kee boneless braised duck rice with succulent duck meat, bean sprouts, braised peanuts, braised egg(half) and beancurd! Also try Ya Lor’s Braised Duck with Noodle or kway teow ($6.10), we’re sure you won’t regret this. For the health conscious, the Braised Duck Porridge ($6.10) is a healthy meal choice of porridge topped with braised duck meat and peanuts. Opt to top up $2.50 for drinks with every main ordered!
11. Streats
Serving up popular Hong Kong, Macau, Indonesian and asian street food, give Streats’ HK Shrimp & Chicken Dumpling Noodle (Dry/Soup, $9.80), Bak Mee Ayam Pangsit ($8.80) and Spicy Dry Nissin Korean Noodle with Fried Chicken ($8.80) a try!
Locations: Bukit Panjang Plaza (#02-17), City Square Mall (#01-01), IMM Building (#02-17/17A), Resorts World (Asian Café) (#01-205), West Mall (#01-28/29/30), Tampines 1 (#B1-05)
12. Hongguo
The Star of Hongguo, the Xiu Cai Mi Xian ($9.20) is double boiled for hours with selected duck, chicken, pork parts, making it extremely flavourful and tasty. Served with vegetables, egg, meat and vermicelli, this is an excellent choice for anyone looking for comfort food. Also try the Pork Ribs Yunnan Noodle Soup ($9.50) and Black Pepper Beef Fried Rice ($9.80)!
Locations: Bugis Junction #B1-06, NEX #B1-75
13. Penang Culture
Get transported to Penang immediately with the Penang Sambal Fried Rice ($9.90)! A well-known Penang dish not to be missed, the Penang Assam Laksa ($7.90) broth consists of sardine, ginger flower, laksa leaves, assam (tamarind), fermented shrimp paste, garlic, galangal, turmeric and lemongrass – all boiled together to form the tasty gravy. The secret of the robustness of the Fried Hokkien Mee ($8.90) lies in the home-brewed flavourful prawn stock used during frying – add a good dose of wok-hei and there you have shiok Fried Hokkien Mee!
Locations: NEX Shopping Mall (#B1-76), Compass One (#03-13), White Sands Shopping Mall (#03-21), JEM (#04-27), Vivocity (#B2-23E)
14. Sushi Tei
Illustrating the emerging influence Asia has on modern Japanese cuisine, Sushi Tei’s menu features a fusion of traditional Japanese dishes with modern innovative trends. Opt for the Oyako Don ($9.80), Tonkotsu Udon/Soba/Ramen ($8.80) or the Yakitori Don ($9.80)!
Locations:China Square (#01-28/30), Sushi Tei (#03-04), JEM (#03-18), NEX (#03-15/16), Northpoint (#02-15), Paragon (#05-04/05), Raffles City (#03-13/14), Serangoon Gardens, Tampines 1 (#04-13), Thomson Plaza (#03-46), Tiong Bahru Plaza (#03-110), Vivocity (#02-152), West Coast Plaza (#01-87), Jewel Changi Airport (#03-209)
15. Ichiban Bento
Hearty meals for everyday! Pick your favourite from the Black Pepper Yakiniku Bento ($9.80), the Double Katsu Bento consisting of Chicken cutlet with spicy cod roe mayo and miso sauce ($8.80), or the Chicken Nanban Don, a Chicken cutlet with sweet & sour nanban sauce and tartar sauce rice bowl ($8.80).
16. Idaten Udon
At Idaten Udon, you can be your own head chef! Match your favourite tempuras with the Niku Udon, a Sliced beef with udon and soup ($8.90), or the Beef Sukiyaki Don ($9.00) and Niku Curry Don, a sliced beef curry rice ($9.00).
Locations: Nex (B1-02), Tampines 1 (B1-07), Changi City Point (B1-12), IMM (02-52), Causeway Point (B1-17)
17. Crave
Enjoy some award-winning Adam Road Nasi Lemak by Selera Rasa, topped off with crunchy flavourful ikan bilis, nuts and the tantalising iconic sambal! Choose your favourite Nasi Lemak: woud it be the Nasi Lemak Royale ($8.70) with fragrant Basmati Rice, Crispy Chicken Wing, Fish Fillet, Bergedil, Fried Egg, Ikan Bilis and Peanuts, Sambal Chili and Cucumber, the Nasi Lemak With Curry Chicken ($8.70) or the Nasi Lemak with Chicken Wing ($6.50)? Opt to top up $1.30 for drinks with every main ordered.
Locations: Ang Mo Kio Hub #B2-54, Asia Square #02-13, Bedok Mall #B2-22, Bugis Junction #B1-K05, Bukit Panjang Plaza #01-18, Causeway Point #B1-K12, Changi City Point #B1-06/07, City Square Mall #B2-K2/K3/K4 & K11, Clementi Mall #B1-K4/K5, Compass One #B1-02/03, E! Hub #01-K105, Fairprice Hub #02-24, Funan Mall #B2-K07, Grab Kitchen #06-00, Guoco Tower #B2-26/27, HarbourFront Centre #01-K8, Hong Leong #B1-12, Hougang Mall #B1-11, Jem #B1-K3, Junction 8 #B1-K8, Jurong Point #B1-03, Lot One #B1-K17, Marina Bay Link Mall #B2-63, North Point #B1-45, One Kent Ridge #01-09/19/20, Our Tampines Hub #01-106, Parkway Parade #01-K09, Paya Lebar Square #B1-45, Sun Plaza #01-26, Toa Payoh #01-524, The Commerze@Iring #01-30, The Star Vista #B1-42, Changi Airport T1A #02-K18, Changi Airport T3L #B2-34, Waterway Point #B1-K7
18. So Pho
Experience authentic and traditional Vietnamese food in Singapore with So Pho’s fresh, healthy and mouth watering Vietnamese dishes. Warm up with Pho Noodle Soup with sliced beef ($9.80), or opt for the Baguette with Beef/ Chicken ($7.50)!
Locations: Jem (#03-22), Tampines Mall (#04-30), Paragon (#B1-20), Novena Square (#02-43/45), VivoCity (#01-171), Causeway Point (#B1-16), Northpoint City (#B1-182/183), Marina One The Heart (#B2-50), The Star Vista (#B1-11), White Sands (#02-04), ION (#B3-19), Changi T3 (#03-30/31), IMM (#02-53), Jewel Changi Airport (#B1-248), Great World City (#B1-112), Suntec City (#B1-126)
Here are 12 personal money management life lessons adapted from the book.
#1: Marry someone who has good financial habits
Image Credits: The Straits Times
If you’re already married, you might agree that money is the top reason why couples fight. It could be very much due to a non-full disclosure during the dating process. Singles planning to tie the knot should learn how to facilitate money conversations to identify each other’s financial habits.
Do you want to have kids? If so, how many and how soon?
What is an ideal amount for an emergency fund?
Are we ready to leave the workforce to be a full-time parent? If yes, which one of us and for how long?
#2: Stay married to the same person
Image Credits: Pinterest
According to Singapore Legal Advice, divorce fees may cost up to S$3,500 for simplified uncontested divorces and S$10,000 to S$35,000 for contested divorces. Let’s not forget about pre-divorce payments, alimony, and child support charges. Need we say more?
#3: Know the cost of raising kids
Image Credits: MindChamps
The obvious expenditures include education, healthcare, clothing, and food. Other costs include moving to a larger HDB flat and getting a new car to shuttle them to school and enrichment classes.
When you don’t heed this principle, you will find yourself on a downward spiral to possible bankruptcy. Live below your means, and you will find extra cash to save and invest at the end of the month.
#5: Take care of your stuff
Image Credits: atulhost.com
By stuff, we mean the things you own. It could be your white shirt, your latest mobile device, or even your car. When you learn how to take care of your stuff, you will find them lasting longer over time and requiring fewer repairs or replacements. This equates to more savings!
One of the greatest gifts on earth is connecting and learning from people from all walks of life. Whether your secondary school classmates or polytechnic school friends are working within the financial sector or not, there are still personal money management experiences you can tap on from them.
#7: Take away more by giving more
Image Credits: HealthHub
This applies to your career in the early stages. Do you believe that you take away more from your company by giving more? The extra time and effort you’re donating to a work project can return tenfold because you gain valuable skills, knowledge, and experience by doing. Think of it as getting paid to learn!
With that said, those who are forced to work extra hours, make sure your employer is compliant with the Ministry of Manpower’s (MOM) practices. Click here for some FAQs relating to overtime work and rest days.
#8: Spend an hour per week learning about personal finance
Image Credits: ConversionLab
There are tons of free resources online, and a quick Google search can reveal the top-ranking ones. The Straits Times also has an “invest” section you can take advantage of if you’re a subscriber. Don’t underestimate the little hour you spend a week because it’s significant when it adds up over the years.
Please note that you don’t have to be exactly like any of the high profiles out there because everyone has their set of money management principles. Find your own and be comfortable in your unique journey to wealth.
#10: Pen down attainable short-term financial goals
Image Credits: unsplash.com
Short-term financial goals refer to your quarterly plans or annual ones. This could include the exact amounts for savings and investments. You can also note down personal reward amounts if you’re expecting big purchases. Remember to review your goals frequently and spot the hits and misses.
#11: Set realistic long-term financial goals
Image Credits: unsplash.com
When you have your short-term plans ready, it’s good to spend some time setting realistic long-term financial goals. If you like it, you may call it “the big picture” or “a bird’s eye view”. Long-term goals could mean you look far ahead in 5 years, 15 years, or even more.
Here’s a look at the author’s long-term financial goals when he was 25:
Buy my next car with cash (within 5 years).
Pay off all college loans by the age of 30.
Own a home by 35.
Attain a net worth of $1 million by the age of 40.
Own a beach property by age 45.
Retire by the age of 50.
#12: Develop a simple net worth statement
Image Credits: MoneySense
There are online resources available to help you find out your net worth. It’s nothing too difficult to understand. For example, MoneySense has a net worth calculator you can use. All you have to do is input your total assets and total liabilities and let the webpage work its magic.
Let us know if you want more insights from his book, and we will prepare them in the coming weeks. If not, you can also grab a copy yourself and be enriched with more personal money management principles to live by. Happy reading!
Romance does not have to fade just because you are at home. Considering the impact of the pandemic and the need to practice social distancing, you have probably struggled to keep your indoor dates exciting. Fret not! There are a myriad of creative date activities that you can enjoy right in the comfort of your own home.
Spend Valentine’s Day with your special someone with these fun ideas.
#1: DO YOGA TOGETHER
Stretch the night away by practicing couples yoga with your partner. Now is the time find your inner Zen. Poses suitable for couples are more intimate and challenging. It is a shared experience focused more on the connection with one another, rather than just yourself.
#2: MAKE DELICIOUS PIZZA
Add spice to your Netflix and chill by making your own pizza. Try different recipes such as baguette pizza and Marinara pizza.
#3: TEST YOUR SINGING ABILITIES
Do you have a favorite love song? Challenge your partner to a melodious night of karaoke. Sing your hearts out by searching karaoke videos on YouTube. Singing some of your favorite tunes is guaranteed to boost your spirit.
#4: TRY A VIRTUAL MUSEUM TOUR
Whether you are a fan of Vincent van Gogh or cultural art, you can find a virtual museum tour for both of your interests. I recommend watching the National Museum of Singapore’s Zoom Into History Video series. It is an insightful look at the artifacts and everyday objects that have defined our nation’s past. You can also watch the virtual tours streamed on the National Gallery of Singapore’s Facebook Live.
#5: CREATE FUN COCKTAILS
Show off your bartending skills in the comfort of your own space by making a cocktail together with your loved one. Make the Love Potion #9. It is made with gin, lemon juice, simple syrup, and pomegranate juice. Enjoy!
#6: START A BOOK CLUB
Encourage your friends to join your book club. Bring your partner along too. Choose a book to read together with the group and then pick an evening to discuss it over wine and cheese on Zoom or Skype.
#7: HAVE A PHOTOSHOOT
Spare a few hours for an at-home photoshoot. Ensure that your pictures have backdrops and decorations that fit your theme. You can have these photos printed and gathered into an album.
#8: SET THEMATIC NIGHTS
Whether you want to indulge on a game or movie night, you can set February 14 as your “best day ever”. You can forgo dinner by turning the lights out and preparing snacks that can boost your movie night experience. If you cannot agree on a movie you both want to watch, consider the first movie you ever watched together. Alternatively, you can play video games. Your partner can either be impressed by your mad skills on screen or will think it is adorable to see you consistently losing.
#9: INDULGE IN A SPA DATE
Drop in your nearest Lush outlet or create your own DIY bath bombs to enjoy a spa date. Have a bath together with bath salts and bath bombs. Afterwards, you can give each other massages with aromatherapy oils. Lastly, you can give your partner a manicure or a pedicure. Complete the experience with matching robes!
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