How Does The World’s Richest Man Spend His Money?

In 2018, Amazon’s founder and CEO Jeff Bezos triumphed over Microsoft’s founder Bill Gates as the world’s richest person. He owns 16% of Amazon, which he founded in his garage in 1994. His current net worth is a whopping US$138 billion (about S$186 billion)! His growing wealth was boosted as Amazon acquired the healthy grocery chain called Whole Foods.

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As the only person in the Forbes list to rank with a 12-figure wealth, how does he spend his money?

PROPERTIES

It comes as no surprise that Mr. Bezos and his family has homes around United States. He owns a lake house, which is estimated to be worth about US$25 million (about S$33 million). His neighbors include Silicon Valley’s tycoon Bill Gates.

Not to mention, his Washington D.C. home belongs to a neighborhood where previous United States President Obama and Ivanka Trump resides. Said home was bought for about US$23 million (about S$31 million).

However, the state of his properties may change due to the recent announcement of his divorce.

INVESTMENTS

With all his wealth, he decided to diversify his portfolio. He has invested some of his money in Uber, Google, Airbnb, Washington Post, and Business Insider. What’s more?

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Bezos Expeditions has invested in businesses including Basecamp, Twitter, Juno Therapeutics, and Workday. Imagine having these big names in your reservoir!

EXPLORATIONS

His contributions to space exploration is his most ambitious venture yet. You read that right! Mr. Bezos has a passion for aerospace.

His love of space led him to finance the recovery of the remains of the Apollo booster-rocket engines. The engines were located from the bottom of the Atlantic Ocean, which is about 14,000 feet down. At his request, NASA donated a restored F-1 booster to the Museum of Flight in Seattle. Moreover, he believes that his company Blue Origin can make affordable tourism possible!

The actualization of this passion project may commercialize space exploration. Who knew that having a honeymoon in outer space can actually become a valid option in the future?

According to the reports published on The New York Times, he is selling about US$1 billion in Amazon stock a year to fund this venture.

Image Credits: pixabay.com

Are all his efforts worth it in the end? More importantly, will a Singaporean tycoon follow the steps of Mr. Bezos towards space exploration? Only time can tell!

Sources: 1 & 2

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Avoid These Sneaky Starbucks Marketing Strategies

What can be more tempting than the smell of freshly brewed coffee? Many Singaporeans cannot go without a hot cup of joe in the morning. The growing demand for coffee and its varieties increases the popularity of Starbucks. This glistening green mermaid houses products that end up costing more than expected.

Why is that so? Well, you end up spending more money with these marketing tricks.

ALL ABOUT THE AESTHETICS

While I was writing this post, I overheard a group of adolescents complaining how they dislike the potent taste of Starbucks coffee. In spite of this, they liked the look of the coffee cup and the establishment.

You see, Starbucks stores are all about offering aesthetically pleasing designs to catch customers’ attention. It begins with perfect lighting! The food is kept on the best lit area of the store. Drawing more attention is the small items right by the register. Candies, cookies, and nuts may seem affordable at the moment. However, these little things add up! You have to be wary.

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Furthermore, stores may rearrange their products to make you notice things that you have not tried before. Do not get me started with the Starbucks Reserve chains with fancier interiors!

SEE WHAT IS TRENDING

One thing is for sure! Starbucks has figured out how to keep their loyal fans happy. As they are constantly creating new twists of old standards, they keep grabbing our attentions. Let me introduce you to the Merlion Frap!

Do you remember the time when the pastel Unicorn Frappuccino stole the hearts of many Netizens? Unfortunately, this limited drink was not available in Singapore. Nonetheless, it was a genius move on a business perspective.

YouTuber thejetsets was intrigued by the pastel drink and decided to ask for a Singaporean rendition. Although the Starbucks baristas were taken aback at first, they eventually warmed up to the idea. They made a pink and orange frappuccino in creamy mango flavor. They called it the Merlion frap! Apparently, it tasted good.

THE ORDERING GAME

Starbucks has a loyalty program, which turns your orders into a game. What are the mechanics of the game? Each card holder needs to get to next level by earning stars (or reward points). Earn a certain amount of stars, and you get any one item (i.e., food or drink) on the menu for free!

Through the Starbucks app, you can find special offers, reload your card, and redeem your points. It is no wonder that many of your co-workers requested a Starbucks top-up on the Yuletide wishlist!

BEAMING CLOSE CALLS

I, for one, enjoy a good slurp of Bubble Milk Tea. I often ask if the size I want is available. In cases when it is not, I choose the closest size with no hesitation. This scenario happens to many people. When it comes to drinks, people usually do not pay attention to the prices than they do with food.

According to Consumer Psychology professor Kit Yarrow, people will choose larger sizes than necessary as they see the costs are too close. For instance, some may order a Venti instead of a Grande.

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Starbucks has employed many marketing strategies to make you spend more money. Awareness of these tricks is the first step to mindful spending!

Sources: 1, 2, & 3

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The “Dark Side” Of These Good Financial Acts

Many people believe that “no good deed goes unpunished”. This may sound ironic to you, but not all good intentions draw positive results.

There are many financial good deeds that can haunt even the most generous of souls. It is best to approach the following situations with caution.

#1: BEING CONSISTENT WITH YOUR CHILD’S ALLOWANCE

The subject of child’s allowance steers a debate in many parent forums. As a parent, is it your responsibility to provide a monthly allowance for your child? Or, should you make them earn it?

A study showed that teenagers who received allowance did worse on a financial literacy test than their counterparts. Giving a steady allowance without rules takes away the sense of accountability. Ultimately, parents are advised to have their children “work” for the money. Chores may be attached to the amount of allowance they will get. Alternatively, you may provide a given amount of funds to your child. Your adolescent must use his or her budgeting skills to purchase back-to-school items and other essentials.

#2: DONATING TO UNAUTHORIZED CHARITY

With pure intentions in your heart, you decided to donate half of your monthly salary to your local charity. However, you failed to do prior background check on the owners of the nonprofit organization. To your horror, the organization was a complete scam from the start! This scenario can happen to anyone.

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As unfortunate as this may sound, not all charities live up to its mission. Before you donate to a charity, take some time to research the organization and the founders. You may also read their annual report and other public financial documents.

Ensure that your donation will go to an honest cause! Go to www.charities.gov.sg for more information.

#3: LENDING MONEY TO FAMILY AND FRIENDS

Let us face it! Money has a potential to put a strain on any relationship. When you lend money to a relative or a friend in need, you may not be certain on whether you can get the money back or not.

On the other hand, you may be in debt to family member. In worst cases, said relative may feel that he or she has the right to exert control over your life or to criticize your spending habits. Imagine the amount of guilt that you will feel!

To avoid conflicts and other misunderstandings, craft a legal agreement that outlines the terms of loan including the interest rate and the repayment schedule.

Image Credits: pixabay.com

Have your good financial deeds backfired before? Leave your stories down below!

Sources: 1 & 2

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Restore Your Faith In Humanity With The Good Samaritans Of Singapore

With the Internet’s power to create different debates and to fuel the flames of negativity, it is essential to shed a light on positive stories. Stories that focus on human acts of random kindness can make your warm your hearts.

These positive stories are guaranteed to make you feel hopeful about our growing species. Who knows? It may even inspire you to do good yourself. On that note, here are some random acts of kindness that will make your hearts warm!

#1: GOOD FINANCIAL DEED AS AN EMPLOYER

2015 was a good year for Crystal Jade employees. You see, their former boss gave bonuses of up to S$40,000 to current and former Crystal Jade employees in Singapore. I am referring to the Hong Konger and the Singapore permanent resident – Mr. Ip Yiu Tung.

Mr. Ip Yiu Tung is the former boss of Crystal Jade, a restaurant known for its delicious and juicy xiao long baos. He sold his stake and remained as the adviser and brand ambassador of the company. Upon earning a significant amount of money from his financial move, he decided to share his blessings. In an interview, he was quoted saying:

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“I am not greedy. I don’t need more money to make me happy. I was already happy. I need a meaningful life, not just money.”

#2: GOOD FINANCIAL DEED AS AN EMPLOYEE

Did you know that a mover in Singapore recently returned S$50,000 inside cabinet that customer had forgotten was there? You read that right!

Honesty seems like a rare gem these days. When it comes to the moving business where you are entrusted with handling the clients’ precious items such as furniture and other valuables, honesty becomes integral. This is what Prestige Moving Services has proven.

This is Mr Jake. One of our best man. We would like to express our gratitude to him for his honesty which not many…

Posted by Prestige – Moving Services on Saturday, January 12, 2019

One of their employees, Mr. Jake, found S$50,000 wrapped up in a plastic bag at a corner of the client’s cabinet. The money was believed to be forgotten by their client. Mr. Jake made the best decision to return the money right away.

He gained much praise in the eyes of the Netizens, especially because his looks can be deceiving. Many were quick to point out that he was a trustworthy person despite appearing to be a muscular man covered with tattoos. This story goes to show that you must not judge a person’s character based on his or her looks alone!

#3: GOOD FINANCIAL DEED AS A STUDENT

How can you help someone financially if you have little to offer? Well, you may start by helping someone win the lottery! That was what Bryan Lee, a Nanyang Polytechnic student, did last year.

Let us begin the story. A couple supposedly won S$2,500 in 4D after dreaming of the lucky number. However, said couple lost the ticket. Storekeeper Neo Hock Wah said that his wife had used S$10 to buy a 4D ticket. Unfortunately, his wife dropped this ticket from her wallet while alighting from a bus.

Neo’s wife had taken a picture of the ticket. However, you cannot redeem the prize money with this method alone. To the Singapore Pools’ defense, anyone can digitally edit a “ticket” nowadays.

The couple decided to seek help from the Netizens. Fortunately for them, a student by the name of Bryan Lee picked up the ticket from the same bus the wife had taken.

Seeing that the ticket was in good condition, Bryan realized that someone might have lost it by accident. He contacted the worried couple via Wanbao.

Image Credits: pixabay.com

In Bryan’s humble words, he said: “My priority was to find the owner. Just because I can collect the lottery money does not mean that was the right thing to do.”

Sources: 1, 2 , & 3

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4 Affordable Places To Haul Korean Fashion

You cannot deny that Koreans paved the way when it comes to fashion-forward streetwear. Aside from looking Instagrammable anytime and anywhere, Koreans wear polished and surprisingly effortless outfits.

As such, Singaporeans have been inspired to embrace the growing trend. The easiest way to acquire K-fashion apparel is to purchase directly from Korean online shops. However, are there other ways to make a Korean fashion haul in Singapore?

With a variety of options, where can you find affordable and minimalist chic K-fashion apparel in Singapore? Read through the list to find out!

#1: ZALORA SINGAPORE

You read that right, one of Singapore’s leading online shops offer K-fashion. As a company, Zalora saw how its regional sales for its Korean fashion and beauty categories doubled every season since 2014. The demand attracted them to carry more Korean labels.

Their goods are either made in Korea or inspired by Korean trends. For instance, you may purchase an adorable blouse for as low as S$8.90.

#2: H:CONNECT

One cannot miss the global presence of H:Connect! It has hundreds of stores in South Korea, Singapore, Taiwan, and China. It is essentially Korea’s answer to H&M. That being said, it houses a variety of apparel from summer dresses to comfortable jeans.

Drop by the Bugis Junction branch to search for a cute brunch dress!

#3: StyleupK

Looking for the same outfits worn by K-pop idols? Look no further than StyleupK. This online korean fashion shop partners with many korean fashion brands and ships directly from Korea to your home. Also, check out their local Singapore SG instock collection for faster local delivery too! Brands include ADLV, Ambler, Romantic Crown, AQO Studiospace.

#4: TWEE

With its first flagship opening at the heart of Singapore’s shopping hub, Orchard Road has gotten a TWEE-upgrade. TWEE carries both Korean fashion and beauty products. You can only expect vibrant changing room visits as there are over 400 designs suited for both men and women. These collections or designs update every month. Imagine the possibilities that said variety can bring!

Image Credits: facebook.com/OfficialTweeSG

What’s more? You can stock up on SUPERFACE’s beauty must-haves or Korean runway-inspired clothing and accessories.

Sources: 1 & 2

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