MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Latest WFH internships posted from 23 to 27 December 2024

Thank you for hopping along this WFH internship series we’ve had over the year.

It’s our last post for 2024 and we will likely be back with more opportunities (hopefully) in 2025!

Meanwhile, this final week, we have openings in marketing/business development, product operations, and more.

Scroll down for more.

#1: IAMinVISIBLE – Marketing / Business Development Intern

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A post shared by IAMinVISIBLE (@iaminvisiblestoriesuntold)

Website: iaminvisible.me

Allowance / Remuneration: $800 – 1,000 monthly

Job Qualifications

Strong analytical and communication skills.
Passion for social impact and storytelling.
Background in Business, Marketing, Communications, or a related field.

Key Responsibilities

Strategic Planning:

Assist in developing market entry strategies and growth plans.
Conduct market research and analysis to identify potential opportunities.

Outreach & Partnerships:

Engage with potential partners and stakeholders.
Support networking efforts to build IAMinVISIBLE’s presence across key markets.

Market Expansion:

Identify and evaluate new regional markets and industry trends.
Help design campaigns tailored for diverse audiences across Singapore and Asia.

Administrative Support:

Aid in organizing outreach efforts, including tracking metrics and impact data.

How to apply?

View the job post here and write to Ning Pei Chua via this link.

#2: Galxe – Product Operations Intern

Website: galxe.com

Allowance / Remuneration: $400 – 900 monthly

Job Qualifications

At least 6 months of internship, 5 days per week.
Bachelor’s degree or above, fluent in English, preferably with a computer science background.
Familiar with the latest developments in the AI industry and have some understanding of mainstream products such as ChatGPT, AIGC, and LLM.
Passionate about Web3, familiar with the industry’s basic knowledge and popular projects.
Strong writing skills, with a keen sense of content and professional judgment.
Data sensitivity, strong self-learning ability, research-oriented mindset, and hands-on capabilities. Possess good logical thinking, communication skills, and teamwork abilities. Diligent, steadfast, and responsible in work.

Key Responsibilities

Participate in the construction and operation of an AI product knowledge base, assisting in clarifying business scenarios, extracting typical user demands, and promoting the rapid implementation and iteration of AI products.
Responsible for the annotation, cleaning, organization, analysis, diagnosis, and performance optimization of knowledge data generated in the project.

How to apply?

View the job post here and write to Kiko via this link.

#3: EV Dance – Accounts and Finance Intern

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A post shared by EV Dance (@evdanceofficial)

Website: evdance.com.sg

Allowance / Remuneration: $600 – 2,800 monthly

Job Qualifications

Currently pursuing or recently completed a degree in Accounting, Finance, or a related field.
Proficiency in QuickBooks software is required.
Strong proficiency in Microsoft Excel and familiarity with accounting principles.
Excellent analytical and communication skills.
Detail-oriented with a willingness to learn.

Key Responsibilities

Assist with transactional accounting tasks, including data entry and invoice processing.
Support the preparation of periodic financial reports.
Contribute to month-end closing processes and reconciliations.
Help with budget analysis and forecasting.
Participate in ad hoc financial projects as needed.
Utilize QuickBooks software for invoicing, expense tracking, and financial reporting.

How to apply?

View the job post here and apply for this position by submitting your CV to info@evdance.com.sg.

#4: Tisch Global Private Limited – Finance Intern

Website: tischglobal.com

Allowance / Remuneration: $1,000 – 1,300 monthly

Job Qualifications

Candidates pursuing a Degree or Diploma from local universities or polytechnics
Meticulous with a keen eye for detail
Problem-solving attitude
Enjoys working in a team in a flat and open hierarchy
Able to multi-task and prioritize

Key Responsibilities

Assist in managing a portfolio of client accounts
Assist clients with the Digitalisation of their Finances and Accounts
Assist in preparing yearly financial statements for clients
Ensure client compliance with all statutory and regulatory requirements including annual return filing and corporate tax deadlines
Technology savvy – comfortable with adopting digital practices and new digital solutions
Be part of a fast-growing professional services company

How to apply?

View the job post here and write to Jessie via this link.

#5: French Chamber of Commerce in Singapore – Business Development and Support Intern

Website: fccsingapore.com

Allowance / Remuneration: $1,500 – 1,600 monthly

Job Qualifications

Bachelor’s or Master’s degree in marketing, business, or communications
Strong written and oral communication skills.
Attention to detail and organizational skills.
Ability to work independently and collaboratively in a constantly changing environment.
Previous agency experience is a plus.
Chinese language would be a plus.

Key Responsibilities

Boost the clients’ development in Asia.
Respond to requests from international clients and support them in the creation and management of their trade marketing campaigns, from initial concept to final delivery.

How to apply?

View the job post here and apply directly via this link.

Editor’s note: These positions are selected based on the “remote” tag, but some are hybrid ones and you may need to report physically to the office. For more details, contact the employer directly.

Are Cryptocurrencies Taxable?

Cryptocurrencies have taken the world by storm, and with the rise of digital currencies like Bitcoin and Ethereum, millions of people are jumping on the crypto bandwagon. As crypto becomes more mainstream, a new question is popping up: “Are cryptocurrencies taxable?”

Tax laws and regulations can feel overwhelming, especially in a space as new as cryptocurrency. Luckily, understanding how taxes apply to crypto doesn’t have to be complicated. This article will break it down so you can stay on the right side of the tax authorities and still enjoy the wild ride in the crypto world.

Cryptocurrency and Taxes

Cryptocurrencies are taxable in most countries, but how they’re taxed can vary significantly. Generally, tax authorities worldwide treat cryptocurrencies as property or income, depending on how they’re used.

In the United States, the IRS has clarified that cryptocurrencies are taxed as property, meaning any sale or trade resulting in profit triggers a taxable event, much like selling stocks. The UK follows a similar approach, with capital gains tax applying to crypto assets. Meanwhile, in Japan, any gains from the sale of crypto are treated as miscellaneous income and taxed accordingly.

Wherever you are in the world, the tax authorities are starting to pay attention to crypto. From selling your Bitcoin stash to swapping Ethereum for Litecoin, taxable events are becoming hard to escape — so it’s vital to know how your country handles them.

Crypto Exchanges and Taxation

Whether you’re using a Singapore crypto exchange or a platform based in Europe or the U.S., crypto exchanges are key players in taxation. Many exchanges are now required to provide detailed reports on user transactions to their respective governments, making it easier for tax authorities to track taxable events.

For example, in the United States, exchanges like Coinbase must report large transactions to the IRS, ensuring that users are paying taxes on any gains. European countries are similarly working to increase transparency, with crypto exchange regulations tightening across the EU.

In Singapore, exchanges are crucial for tracking transactions, especially as more investors turn to these platforms for trading and investment. With this global trend of increased regulation, it’s more important than ever for crypto users to maintain detailed records of their transactions to stay compliant with tax laws.

Capital Gains vs. Income: How Cryptocurrencies Are Taxed

Different countries have different approaches when it comes to taxing cryptocurrencies. Generally, taxes fall into two categories: capital gains and income. The distinction depends on how you acquire and use your crypto.

In the United States, the UK, and much of Europe, selling your crypto for a profit is typically taxed as a capital gain. But if you’re earning cryptocurrency through mining, staking, or getting paid in Bitcoin, then that’s considered income and taxed differently. Australia also follows a similar model.

In countries like Japan and South Korea, tax laws are even stricter, treating crypto gains as income across the board. Japan, in particular, taxes crypto profits at rates as high as 55% for significant gains.

Tax Reporting: How to Stay Compliant

Regardless of where you live, tax compliance regarding cryptocurrencies often boils down to one thing: record-keeping. Start by keeping detailed records of every transaction you make — whether you’re buying, selling, trading, or using crypto to make purchases.

Many countries offer software tools or apps to help track transactions across exchanges and wallets. Some exchanges, like those in the U.S. or Europe, may automatically generate reports that detail your transactions, making tax filing easier. But remember, the responsibility to report accurately still falls on the investor.

The Consequences of Failing to Report Crypto Taxes Globally

What happens if you don’t report your cryptocurrency transactions? Well, it’s not worth the risk. Around the world, tax authorities are getting increasingly sophisticated in tracking crypto activities.

Failing to report crypto taxes can lead to penalties, audits, and fines. Worse yet, serious tax evasion cases can even result in criminal charges in countries like the U.K. and South Korea.

Intentional tax evasion or failure to comply with regulations could land you in hot water. With governments worldwide tightening the noose on crypto tax evasion, staying compliant is more important than ever. It’s better to stay ahead of the curve and be transparent about your crypto dealings than to face an unwelcome surprise down the line.

Staying Informed Across Borders

As the world of cryptocurrency continues to grow, so too do the tax rules that govern it. From the U.S. to Singapore, Japan to the U.K., understanding the tax implications of your crypto transactions is crucial to staying on the right side of the law.

Whether your country treats crypto as capital gains, income, or something else entirely, staying informed will keep you ahead of the game. As regulations evolve, keeping up with the latest tax developments ensures that you can enjoy the benefits of digital currency without getting caught off guard by the taxman. Wherever you are, keep your records and tax reports in check and continue your crypto journey responsibly!

Top 6 Financial Resolutions for 2025

Whether you’re gearing up for a big year ahead or just want to breathe easier about money, these six resolutions will set you on the right path this 2025!

#1: SAVE MORE, WORRY LESS

Start small and aim big. Set a goal to save at least three months’ worth of your take-home pay this year, and eventually work toward a full year’s cushion.

With Singapore’s rising cost of living, having an emergency fund is your safety net against unexpected expenses. It’s not just about the amount you save but the habit of saving consistently.

#2: BE CONSITENT WITH MONEY

Consistency is your best friend in financial planning. Even small, regular contributions to your savings can snowball over time. Can’t save a lot? No worries as every dollar counts!

For those with long-term goals, consider setting aside funds for regular investments. The earlier you start, the more time your money has to grow, thanks to compound interest.

#3: SET CLEAR FINANCIAL GOALS

What’s your money motivation? Maybe it’s sending your kids to a prestigious school, taking your dream retirement trip, or passing on your family business. Define your short- and long-term goals, and compare them to where you are financially today.

Pro tip: Create a bucket list of personal milestones. Make these goals tangible (e.g., aiming to travel to London by March), and let them fuel your financial drive.

#4: PLAN SMARTER FOR TAXES

Don’t let taxes catch you off guard! Review your year-end statements and identify potential tax liabilities, such as interest or dividends. Proper tax planning can save you from unnecessary stress and money.

Explore tax reliefs like those for CPF contributions, NSmen, or parent and spouse care. Every bit helps when it comes to keeping more of your hard-earned dollars.

#5: CONTRIBUTE MORE TO YOUR RETIREMENT FUNDS

Say it with me: “2025 is the year to prioritize my future self!” Start contributing regularly to your retirement funds, like CPF. The earlier you begin, the more time your money has to grow.

If you’re employed, ensure you’re maximizing your CPF contributions and exploring top-ups to your Special or Retirement Accounts. It’s a simple yet effective way to build a comfortable nest egg.

#6: SHOP SMART, LIVE WELL

Shopping wisely is all about cutting costs without compromising your lifestyle. Take advantage of discounts, deals, and cashback platforms. Buy in bulk for essentials and hold off on splurging until sales events like the Great Singapore Sale or 11.11.

And don’t forget healthy money habits: Pay your bills as soon as payday hits, track your spending, and focus on financial literacy. These small changes can lead to big savings.

Image Credits: unsplash.com

With these resolutions, you’ll not only build financial resilience but also set yourself up for a more secure and stress-free future. So, what’s your first step toward a brighter financial year?

Sources: 1,2, & 3

40+ newly launched foodstuffs from Korea’s convenience store to try before December 2024 ends

Hope you’ve had a joyful Merry Christmas with your loved ones!

If you’re currently in Korea and still enjoying the festive season, you might want to swing by Korea’s convenience store, specifically CU, for all the latest releases.

In this episode, we’ve got several launches from the contestants of Culinary Class Wars!

So hop by a few chains and see if you can get your hands on these foodstuffs:

#1a: Dining Table’s Grilled Vegetables & Chicken Platter (8,200 KRW; approx. 7.69 SGD)

#1b: Dining Table’s Grilled Pork Belly & Sausage (7,900 KRW; approx. 7.41 SGD)

#1c: Dining Table’s Toowoomba Pane Pasta (6,900 KRW; approx. 6.47 SGD)

#2a: Giant Bulgogi Pizza (3,900 KRW; approx. 3.66 SGD)

#2b: Hey! Chicken’s Sweet & Spicy Dakgangjeong (Small Cup) (3,900 KRW; approx. 3.66 SGD)

#2c: Cream Leek Croquette (1,600 KRW; approx. 1.50 SGD)

#3a: Sumifru’s Choco Banana Chips (3,600 KRW; approx. 3.37 SGD)

#3b: Sumifru’s White Choco Banana Chips (3,600 KRW; approx. 3.37 SGD)

#3c: Sumifru’s Dark Choco Banana Chips (3,600 KRW; approx. 3.37 SGD)

#4a: Zeroweet’s Zero Sugar Milk Vanilla Monaka (3,300 KRW; approx. 3.09 SGD)

#4b: Zeroweet’s Zero Sugar Choco Monaka (3,300 KRW; approx. 3.09 SGD)

#4c: Washed Apple Slices (2,900 KRW; approx. 2.72 SGD)

#5a: Hmmm! Sparkling Wine (12,900 KRW; approx. 12.09 SGD)

#5b: 王老吉’s Herbal Tea (2,000 KRW; approx. 1.87 SGD)

#5c: Crayon Shin-chan’s Americano (3,000 KRW; approx. 2.81 SGD)

#6: Culinary Class Wars’ Master of School Meals’ Bulgogi Dosirak (6,200 KRW; approx. 5.81 SGD)

#7a: Culinary Class Wars’ Master of School Meals’ Roasted Pork Dosirak (5,900 KRW; approx. 5.53 SGD)

#7b: Culinary Class Wars’ Master of School Meals’ Braised Spicy Chicken (5,500 KRW; approx. 5.16 SGD)

#7c: Culinary Class Wars’ Master of School Meals’ Bibim Dumplings (5,200 KRW; approx. 4.87 SGD)

#8a: Culinary Class Wars’ Master of School Meals’ Gimbap (3,300 KRW; approx. 3.09 SGD)

#8b: Culinary Class Wars’ Master of School Meals’ Egg Sandwich (3,400 KRW; approx. 3.19 SGD)

#8c: Culinary Class Wars’ Master of School Meals’ Beef Veggie Fried Tofu Rice Bar (2,700 KRW; approx. 2.53 SGD)

#9a: Ottogi’s Jjamppong Rabokki (3,900 KRW; approx. 3.66 SGD)

#9b: Ottogi’s Cream Jjamppong Rabokki (3,900 KRW; approx. 3.66 SGD)

#10a: 405 Bakehouse’s Mocha Salt Bread (3,600 KRW; approx. 3.37 SGD)

#10b: 405 Bakehouse’s Choco Salt Bread (3,600 KRW; approx. 3.37 SGD)

#11a: Culinary Class Wars’ Napoli Matfia’s Pistachio & Strawberry Cup Cake (5,200 KRW; approx. 4.87 SGD)

#11b: Culinary Class Wars’ Napoli Matfia’s Pistachio & Strawberry Sandwich (3,900 KRW; approx. 3.66 SGD)

#12a: Soondae Rice Soup (5,900 KRW; approx. 5.53 SGD)

#12b: Hmmm! Double Oak Red Wine (12,900 KRW; approx. 12.09 SGD)

#13a: Wow Kimchi Fried Rice (3,900 KRW; approx. 3.66 SGD)

#13b: Mexican Couscous Salad (5,900 KRW; approx. 5.53 SGD)

#13c: Cereal Style Honey Rice Cake Balls (3,300 KRW; approx. 3.09 SGD)

#14a: The Misik’s Squid Ramyeon Cup (2,800 KRW; approx. 2.62 SGD)

#14b: Culinary Class Wars’ Master of School Meals’ Gangneung Style Jjamppong Soft Tofu Stew (4,900 KRW; approx. 4.59 SGD)

#14c: Culinary Class Wars’ Master of School Meals’ Gamjatang (Pork Back-bone Stew) (4,900 KRW; approx. 4.59 SGD)

#15a: Red Sun Rise Cocktail Style Ade (Pomegranate) (1,600 KRW; approx. 1.50 SGD)

#15b: Green Apple Martini Cocktail Style Ade (1,600 KRW; approx. 1.50 SGD)

#15c: Fresh Citron Highball Can (4,500 KRW; approx. 4.22 SGD)

#16a: Culinary Class Wars’ Napoli Matfia’s Pistachio & Strawberry Fresh Cream Bread (3,400 KRW; approx. 3.19 SGD)

#16b: Yonsei’s Strawberry Milk Roll Cake (3,800 KRW; approx. 3.56 SGD)

#16c: 405 Bakehouse’s Garlic Salt Bread (3,600 KRW; approx. 3.37 SGD)

#17a: Super Large King “Half-Half” Burger (13,000 KRW; approx. 12.19 SGD)

#17b: Super Large King 1kg Pasta (9,900 KRW; approx. 9.28 SGD)

#17c: Apple Cider Vinegar Tangle Pocket (5 Pcs) (5,900 KRW; approx. 5.53 SGD)

All image credits to CU.

Price conversion from KRW to SGD is accurate at the time of writing.

7 Life-Saving Tips to Stay Within Budget This Christmas

The holiday season is a time for joy, but it can also bring stress, especially when it comes to managing finances. With these seven budget-friendly tips, you can enjoy the festivities without breaking the bank.

#1: SET YOUR LIMITS

Before you start shopping, establish clear spending limits. With credit cards offering easy access to extra funds, it’s essential to avoid impulse buys. Review your bank account to determine how much you can comfortably spend without affecting your bills or essentials. To stretch your budget, cut back on non-essential daily expenses, like your regular kopi or teh at the hawker centre. Stick to cash and your set limits to stay on track.

#2: BE REALISTIC ABOUT YOUR BUDGET

It’s easy to feel pressure to match the spending habits of others, especially during the holidays. But remember, everyone’s financial situation is different. Don’t worry if your budget doesn’t allow for extravagant gifts. Reflect on the most meaningful gifts you’ve received. Often, it’s the thought that counts more than the price tag. A heartfelt, simple gesture can be just as valuable.

#3: REDUCE GIFT-GIVING

Santa has a long gift list, but you don’t need one! If your list of recipients exceeds your budget, consider scaling it back. For those outside your immediate circle, try baking festive treats like kueh or cookies instead of splurging on expensive gifts. This allows you to share the holiday spirit without straining your wallet.

#4: RESIST THE TEMPTATION OF SALES

Sales are everywhere during the holiday season, but discounts only translate to savings if you actually need the item. Resist the temptation to buy things just because they’re on sale. Whether it’s the Great Singapore Sale or limited-time promotions, if it wasn’t planned for, it’s not a bargain. Stay focused on your budget and avoid falling for flashy sales tactics.

#5: TRACK YOUR SPENDING

It’s easy to lose track of your spending during the holidays, especially with the abundance of online shopping options in Singapore. Use a money-tracking app or your bank’s mobile app to monitor your purchases in real-time. This will help you stay within your budget and prevent any financial surprises come January.

Image Credits: unsplash.com

#6: CHANGE YOUR MINDSET

Before buying gifts, pause and reflect on why you give them. Are you doing it out of tradition, social pressure, or genuine excitement to share something meaningful? Understanding your motivations can help you set realistic expectations and avoid overspending on items that don’t truly capture the spirit of the season.

#7: MAKE PRICELESS HOLIDAY MEMORIES

Sometimes, the best gifts are the ones that don’t come wrapped. Consider giving experiences that everyone can cherish. Ideas include:

Attending a Christmas service at a local church, like St. Andrew’s Cathedral or the Catholic Church of St. Teresa, to celebrate together.
Taking a festive stroll along Orchard Road to enjoy the Christmas light displays, followed by a homemade dessert in your home.
Gifting an annual pass to a local attraction like the Singapore Zoo or Jurong Bird Park for hours of fun at a reasonable price.

Image Credits: unsplash.com

This Christmas, focus on what truly matters: joy and meaningful memories. With these practical tips, you can celebrate without the financial hangover, all while enjoying the best Singapore has to offer this season of giving. Cue the songs of the season, including Mariah Carey’s All I Want for Christmas Is You and Rosé and Bruno Mars’ APT!!!

Sources: 1,2, & 3