Anna Agoncillo, Author at MoneyDigest.sg

Fantastic Fitness Tips For Busy Singaporeans

Most Singaporeans desire to improve their health, but many find it difficult to squeeze an adequate amount of time for a fitness regimen. Not for long! Money Digest has you covered.

#1: WORKOUT AT THE OFFICE

You will be surprised to know how much you can accomplish by merely spending 5 minutes to exercise at your desk. You may do a few lunges while you are waiting for the meeting to start or a few arm stretches while you are on the phone. There are a variety of quick workouts online. This is a good example of total body toning:

#2: CHOOSE A “HEALTHY” HOTEL

When you are travelling for business, choose a hotel that has its own gym. This ensures that you can practice your exercise routines outside from home. Alternatively, you may avail the “guest or tourist” pass at a local gym.

#3: PREPARE HEALTHY SNACKS

A surefire way to cut back some weight is to switch your junk food with healthy snacks. It takes less than 5 minutes to whip a pack of container filled with sliced fruits and assorted nuts. Keeping these healthy bites at a convenient reach will prevent you from indulging on the candy bars from the office’s vending machine. Also, these snacks will increase your energy to survive the day.

#4: EAT OATS FOR BREAKFAST

Whenever I am running late or feeling ill, one of my go-to healthy fixes is the oatmeal. Oatmeal contains soluble fiber which helps lower your cholesterol and your risk of heart disease. Embrace the power of oats by topping it off with grated apples, almonds, or honey.

Try the Quaker Quickcook Oatmeal Hearty Supreme as it retails for only S$2.95.

#5: RELAX WITH BREATHING EXERCISES

After a day of hustling through a mountain of tasks, your stress levels may be off the charts! This is something that you must wary of as prolonged stress may impact your overall well being. Thus, you must learn how to relax.

Spending 10 minutes or less in breathing exercises will help. Know about the 6 breathing exercises: Equal Breathing, Progressive Relaxation, Guided Visualization, Alternate Nostril Breathing, Skull Shining Breath, and Abdominal Breathing Technique by clicking this.

Image Credits: pixabay.com

Go! Take the stairs for someone who is busier than you is exercising at this moment.

Sources: 1, 2, & 3

Why Many Singaporeans Are Not Tying The Knot

About 4 out of 5 Singapore residents express their intentions to get married. But, why are they not pursuing what their hearts deeply desire?

In 2013, 83% of the participants in the survey by National Population and Talent Division said that they want to tie the knot. This figure is slightly lower than the reported 85% in the previous survey (2007). We can only predict that the decline will continue by 2019.

The leading reasons why most of the respondents are not employing immediate marital plans are saving up for the wedding and saving up for the housing. Furthermore, 84% of the 4,646 participants intended to have 1-2 children only. Those people who are not planning to have any children or to have an extension to their family cited financial costs as one of their top reasons. It does not take a notable genius to understand how money gravely influences the Singaporean’s approach to marriage and parenthood.

Many residents of Singapore are delaying the the event of matrimony as they want to earn more money, to build an attractive career, and to be financially independent. These factors push up the national median age of first marriages.

MAKING MONEY IS HAPPINESS

“Making money is happiness…”, said Nobel Peace Prize winner Muhammad Yunus. Along with happiness, money seems to go hand-in-hand with marriage. Many Singaporeans perceive that the primary focus of life is building careers and gaining more pay. A relatively significant amount of the population delay marriage to save money for cushioning the high cost of living. They are wary about certain expenses too. I cannot deny the fact that the wedding ceremony, home renovation, and infant care costs an overwhelming wealth!

The recent report by the Department of Statistics Singapore support these sentiments. It found that the median age for grooms at first marriage rose to 30.3 years old in 2015. During the same period, the median age for brides rose at a faster rate to 28.2 years old. These respondents wanted to attain “some level of success” to attract potential partners.

I AM A STRONG WOMEN WITH OR WITHOUT THIS OTHER PERSON

“I am a strong woman with or without this other person…”, said American performer Queen Latifah.

It is probably no coincidence or sorcery that as women gained more economic power in the recent decades, they have been less likely to get married. Women are less likely to wed due to financial security alone. Dr. Norman Li, the Associate Professor of Psychology at Singapore Management University, has his own take on this trend. He said that: “Women are now becoming more and more educated and earning increasingly more income. So, there are increasingly fewer men who meet their standards.”

Do you agree with Dr. Norman’s statements? Well, one thing is for sure. Birth rates have been hit due to women marrying later or not marrying at all.

Image Credits: pixabay.com

In order to entice more Singaporeans to get married and have children, institutions may employ different rewards. Banks may start to offer matrimony loans that specialize on the expenses of the wedding and the early years of marriage. Moreover, employers may provide a baby bonus (i.e., a cash gift) or a paid maternity leave.

Sources: 1 & 2

Do Singaporean Women Have A Specialized Insurance?

There is a new trend circulating the insurance market. This trend is none other than women’s insurance. Have you heard of this?

I cannot deny the fact that women are more prone to certain diseases due to the workings of the female body. Health issues such as pregnancy complications and ovarian cysts are peculiar to women. Some of these health conditions are not covered by life or health insurance due to its exclusivity. This is why women face encouragement to add special riders. But, this scenario is a thing of the past! More and more insurers are offering women-centered maternity and critical illness plans.

Parents who are experiencing the miracle of childbirth for the first time can be overtly “kancheong” (tensed). Who can blame them? Maternity is a vulnerable period that you must not take lightly. To safeguard yourself and your child, you may purchase maternity insurance policies. Some of them are in the form of bundled plans to cover the child’s needs beyond the early stages. Consider signing up for the “PINKLIFE” by Great Eastern Life Assurance.

PINKLIFE covers allows the policyholder to feel safe while she is pregnant. Women (between ages 17 to 40) have the option to upgrade their plans to include coverage for pregnancy-related conditions such as stillbirth or miscarriage due to accident. The newborn will also be covered for premature birth requiring ICU care and congenital conditions (e.g., Down’s Syndrome). This plan stands out from the rest because is protects the policyholder from 37 critical illnesses too.

Image Credits: pixabay.com

Aside from maternity bundled plans, insurance policies for women occur as critical illness insurance. Critical illness (CI) insurance usually pay a lump sum when an individual is diagnosed with a disease covered in the terms. It is important to note that most policies depend heavily on the policyholder’s age. Insurers will charge you with a higher premium if you belong to an older age group. This is because the risk to certain diseases increase as age does. So, examine the point of coverage. Is their an age allowance? How about a “stage” allowance (e.g., the coverage takes place only at the early stages of breast cancer)?

As this CI policy is targeted at women, you can commonly find that some of them offer free health checkups such as mammogram. Speaking of free health checkups – I introduce you to the AIA Glow of Life. It is a CI that is especially made for women. You may enjoy a complimentary medical checkup every two years starting from your 3rd year with the policy. It gives you payouts for a wide range of illnesses including breast cancer, osteoporosis, and rheumatoid arthritis.

What’s more? Policyholders can expect to gain from a 100% reimbursement for a reconstructive surgery due to an accident.

While some insurers offer standalone women-centered plans, others do not. Please make sure to read the fine print to understand what you are covered for! Feel free to contact a financial adviser for an appropriate consultation.

Sources: 1, 2, & 3

Before You Kick The Bucket, Visit These Beautiful Local Places

Whether you like it or not, our time on Earth eventually comes to an end. Most people take this as an opportunity to live within their greatest potential. Keeping this mind, you may create a “travel bucket list” filled with the places that you desire to visit before you die (or at least before you turn 60).

You may think that Singapore is exclusively blessed with luxury malls and highly-rated hotels, but there is more to our country than the sheen of wealth. It is surrounded with diverse cultures and a vibrant history that you must discover.

Consider visiting these beautiful places first:

HIKE AT PULAU UBIN

Have a blast from the bygone years by observing how the villagers of the Pulau Ubin live without the glamorous skyscrapers. Pulau Ubin is an island found in the Northeast of Singapore. It is one of the last rural areas in the country with an abundance of fauna and flora. It is a great place to hike, cycle, and experience other outdoor activities. Make sure you pack the best hiking gps for your trip!

You may take a guided tour to explore the picturesque beaches and mangrove areas.

DISCOVER THE ASIAN WONDERS

Before the optimum condition of your senses deteriorate due to old age, consider savoring the beauty of treasured artworks by visiting local museums. On the top of my list is none other than Asian Civilisations Museum (ACM). Nestled at the mouth of the Singapore River, ACM will take you on a journey of historical discovery as they preserve the heritage of Asia.

It boasts with about 1,300 artifacts from China, South Asia, Southeast Asia, and West Asia. Upon walking inside its halls last year, I was amazed by the abundance and diversity of the Buddha statues as well as the 12 zodiac animal heads donated by Jackie Chan.

To shake things up, they accompany the permanent exhibits with special exhibits such as the “South Asia and the Islamic World”. You will be glad to know that admission is FREE for Singapore Citizens and Permanent Residents.

STROLL ABOVE THE TREES

Tick one item off your bucket list by conquering your fear of heights!

Take your special someone to a morning hike while watching the sunrise at the MacRitchie Reservoir Park. MacRitchie Reservoir Park houses several long hiking routes including the famous TreeTop Walk. The TreeTop Walk consists of a freestanding suspension bridge that connects two highest points namely: Bukit Peirce and Bukit Kalang. This is the first of its kind. You will truly appreciate the unique experience of looking over the variety of plants and animals while being about 25 meters off the ground.

POSE WITH ALL THE MERLION

Wouldn’t it be nice to share the stories of how you posed beside all the Merlion statues in Singapore? I am sure that your grandchildren will be fascinated to know that their grandparent stood face-to-face with the nation’s “mythical creature”.

As you may know, the Merlion has the head of the lion and the body of a fish. It is regarded as Singapore’s icon since the 60’s. There are seven Merlion statues built islandwide. Among these is the statue located next to One Fullerton. Take a snap with this water-spouting statue before you walk around Marina Bay.

RELAX AT A TROPICAL OASIS

Recently featured inside the pages of the Louis Vuitton City Guide Singapore, Blue Bali is the closest tropical oasis in the bustling city. The serene place consists of a restaurant and a spa where guests can indulge on contemporary Indonesian cuisine while overlooking the surrounding greenery.

Worry not about breaking the bank as the prices of the meals are reasonable. Mains start from S$16 while the kid’s meals start from S$8.

Image Credits: facebook.com/BlueBaliOnCluny

What are you waiting for? Tick “urban paradise” off your bucket list.

Sources: 1, 2, 3

Four Financial Mistakes And How To Beat Them

Recognizing these wrongful money decisions is a vital step to improving your financial health:

#1: NOT SAVING FOR EMERGENCIES

Image Credits: pixabay.com

Skipping an emergency fund can be one of your deadliest money moves. You see, our lives are full of pleasant and unpleasant surprises. Can you fork out a sufficient amount of money to cushion the urgent costs due to unemployment or loss?

Building a fund for these types of events shall be one of your financial priorities to avoid getting into debt or even into bankruptcy.

Solution: Having an emergency fund allows you to build a breathing space to deal with life’s highs and lows. It is recommended to keep about 6 months’ worth of salary inside your emergency fund. Start gradually by aiming for S$400 in the first month. Increase this amount as months pass by.

#2: EATING OUT CONSTANTLY

Image Credits: pixabay.com

It is no secret that Singaporeans love to munch! We are blessed with a myriad of cuisines that one cannot resist the temptation of eating out. As with everything that is good, too much can be a sin too. You may feel that eating out during lunch or dinner daily does not make a difference. But, all your costs add up.

Solution: The cost of one restaurant meal may be equivalent to three home-cooked meals. Consider packing lunch from home as it is almost always cheaper.

#3: PURCHASING UNNECESSARY THINGS

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Many shoppers in Singapore experience mindless sprees when the Great Singapore Sale is on. People purchase unnecessary items just because they are on sale! However, you must not bury yourself in a pile of debt due to the irrational thought that you cannot live without a discounted Prada bag.

Solution: Examine if you are willing to purchase the item in its full price. If not, you probably do not need it after all. Saving up for a new designer bag is better than having to loan money for it. Seek a balance between your debts and your savings.

#4: NOT SAVING FOR RETIREMENT

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The “HSBC’s Future Of Retirement: Generations And Journeys” report found that the average Singaporean begins saving for retirement at age 32 and continues it for another 29 years. Despite having the advantage of saving for a longer period of time than their ancestors, 41% of the participants wished that they had started to save earlier. The perceived insufficient fund may be influenced by the higher cost of living in the recent years.

Solution: You must save a fraction of your salary for retirement while you are employed. There will come a time when you will not be earning money, but you still need to support yourself. Read about building an efficient retirement plan. Seek the help of a financial adviser if necessary.

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