Forex Vs. Commodity Market

Forex market is such a fascinating market in the world that everyone wants to invest and make the profit. The main reason behind this fascination is the quicker and bigger profit that you can make if you play smartly. Lots of patience and experience is required to make your every trade end in something positive. Quicker and timely decision can be handy in this game.

Observing the charts is not enough most of the times. Most of the online guides and tips tell you a lot about candlestick forecasting and predictions, but this is not just enough. We have the examples where all the calculations, mathematics and predictions failed about candlesticks and charts, and well-experienced predictor had to bear some significant loss. Why this just happened to them?

As I mentioned earlier that you have to be extra smart. You have to keep in mind everything that can change the value of the currency you are dealing with. It can be some news, some government policy, some accident, some event or even a war. You will have to keep an eye on such things which can affect the decision of the people about buying or selling of the currency pair you are dealing in.

There are individual websites which make your job more comfortable if you are trading with them. They can give you specific advice about buying or selling. They may show you the live charts, graphs, prediction theories and calculations and news bytes as well which may have any impact on the forex market. But again, you have to be extra smart so don’t rely on the news and information of a single website. Double verify everything before taking any decision in Forex Market.

Some people don’t want to deal in Forex Market rather they prefer to trade in commodities. Forex market is much volatile, and you can lose your investment in just a blink of an eye. It is not that case when you are dealing in commodities. Normally there are not such sharp jumps in the prices of commodities how much ever big the news is.

So, to trade safely, most of the people prefer to buy or sell commodities like Gold, Silver, Oil, and Copper. These are widely traded commodities worldwide. Oil and Gold are most traded commodities. The reason behind this preference is that Oil and Gold act more like currency pairs. You can see some sharp increase or decrease in the price of Oil and Gold.

If you want to trade in Oil or Gold, then you must keep an eye on news and charts for Oil and Gold Forecast. If you are confused, don’t invest rather wait or consult some expert. Doubts in your decisions can lead you towards loss. If you are new, follow some expert traders. Following option can be found on most of Fore Trading websites. Following some expert will let you learn and earn at the same time. But don’t follow blindly instead consider every action in trade and try to find out the reason behind every decision and soon people will be following you.

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Quick And Inexpensive Essential Oil Recipes

Many of us have embarked on a lifestyle journey that values healthy and all-natural options. From signing up to a detox program to using organic products, the list goes on and on! My personal lifestyle journey involves therapeutic essential oils. Essential oils are products extracted from plants, which may both improve your physical health and mental well being.

Do not let essential oils spook you! These products can be affordable without sacrificing quality. Here are some tips that you need to know to fit aromatherapy into your budget:

#1: KNOW THE LOCAL BRANDS

Due to the widespread of a healthier society, more local retailers have invested on organic or all-natural products. Brands such as HOUGHTON & GOUGH, HYSSES, and MMERCI ENCORE carry pure essential oils. Let us start with HOUGHTON & GOUGH (H&G). H&G houses a range of room sprays, essential oils, hand-poured candles, and more. Its Lemongrass essential oil retails for S$25.90.

Image Credits: pixabay.com

HYSSES is a firm believer of holistic therapy. From scenting to natural skin care solutions, HYSSES encapsulates the best nature has to offer. Most of its essential oils retail for about S$25.90. 

Lastly, MMERCI ENCORE exudes luxury as its raw ingredients and pure essential oils were sourced from Australia and France.  According to its website,  it offers handcrafted artisanal aromatherapy goods inspired by bathing and bedtime self-care rituals. The company is created by the former beauty editor Alli Sim. The price of its essential oils range from S$25 to S$35. 

#2: A LITTLE GOES A LONG WAY

Essential oils are made with highly concentrated plant extracts. Thus, a little goes a long way! As an avid user of essential oils, I can attest that less is more. Do not be fooled by a mere 5 or 10 ml bottle as it can last you for months. Despite my frequent usage, my 10 ml Young Living bottle lasted for more than 6 months.

Image Credits: pixabay.com

With its potency, you may be wondering how long can you store a bottle. The shelf life of oils vary from each kind. However, the general rule of thumb is keeping it within a year of purchase. Many aromatherapists extend its life span by keeping their volatile oils refrigerated.

#3: MAKE YOUR OWN BLENDS

One of the easiest ways to make your own blend is to use a roller bottle. Transferring essential oils into roller bottles will save you money with the process of dilution. Dilution does not weaken your oils. Instead, it helps you to target specific areas of your body such as your chest or temples. It allows you to apply the product whenever you need it.

The basic steps of making a roller bottle include the following:

a. Acquire an empty 10 ml roller bottle online
b. Add 10 drops of essential oils and fill the rest with a carrier oil (e.g., grapeseed oil, sweet almond oil, coconut oil, and jojoba oil)
c. Put the top cover
d. Shake the mixture well
e. Apply to the neck, wrists, temples, feet, chest, spine, belly, or behind the ears

Image Credits: pixabay.com

I shall move on to the fun part by enumerating the quick recipes consisting of two to three essentials oils.

a. For itchy skin
6 drops Lavender
4 drops Peppermint

b. For sleep and relaxation
3 drops Lavender
3 drops Cedarwood

c. For focus and concentration
5 drops Orange
5 drops Peppermint

d. For upset stomach
4 drops Lavender
3 drops Peppermint
3 drops Ginger

e. For headaches
4 drops Lavender
4 drops Peppermint
2 drops Frankincense

f. For healthy nails
5 drops Tea tree
3 drops Lemon
2 drops Peppermint

g. For a cooling sensation
4 drops Lemon
4 drops Peppermint
2 drops Frankincense

May these blends bring you the daily comfort you need in this busy city! 🙂

Sources: 1, 2, & 3

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Hack Your Way To A New Wardrobe

WHAT CANNOT BE SEEN BY THE NAKED EYE

What do tank tops and plain shirts have in common? For starters, you typically use these underneath a polo or a blouse. Others can barely see these types of clothing so, why bother with an expensive brand? Stick to purchasing basics in department stores such as John Little. Save the designer labels for the items that you show off!

THE OLD BECOMES NEW AGAIN

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When my partner and I were out of activities to do, I convinced him to experience a hunt at a nearby thrift store. Flea shops and thrift stores sell gently used or preloved clothing at incredibly cheaper price tags. Many of these stores offer holiday sales too! I once bought a Zara skirt for S$4. What a steal!

You can purchase an entire outfit for under S$30 at Singapore thrift stores such as New2U Thrift Shop, PraiseHaven Thrift Shop (under Salvation Army), and Something Old Something New. Remember that used clothes must be thoroughly cleaned or sent to the laundromat.

IT’S FREAKY FRIDAY

Image Credits: pixabay.com

If you are not comfortable with raiding a stranger’s wardrobe then, try swapping clothes with your friends or family members. I am not saying that you must take advantage of your friends or relatives but, you should tap into each other’s resources to save money. Furthermore, you are contributing to less waste too.

Allow your loved ones to freely choose which clothing items they like from your unused or underused pile. You can do so every quarter or every month. For instance, you may switch your summer clothes every March!

THE SIMPLER, THE BETTER

Image Credits: pixabay.com

In 1970, a London boutique coined the term “Capsule Wardrobe”. A Capsule Wardrobe consists of 30 to 37 pieces of clothing that you always wear. It is the minimalist way to downsize your wardrobe and boost your savings. It teaches us to focus on staples and to skip the trends.

A leather pants may be prevelant at Forever 21 or H&M but, constantly keeping up with trends such as this one can poke a hole in your wallet! Purchase items that you can still use in a few years time.

Sources: 1 & 2

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Be An Informed Consumer When Choosing Your Electricity Price Plan

Currently, residential consumers (like you and I) can buy electricity only from SP Group. This will gradually change as the Energy Market Authority (EMA) sets its sights on further opening up of the electricity market. This will allow households to buy electricity from a retailer at a price plan that best meets their needs.

Since the soft launch of the Open Electricity Market (OEM) in April 2018, those staying in Jurong enjoy more choices and flexibility when it comes to buying electricity, thanks to more competitive pricing and innovative offers. It will roll out progressively in four geographical zones starting from 1 November 2018.

With different price plans available, choosing one that best suits your needs may come across as daunting. We are here to help you make an informed decision. This is no different from selecting a mobile phone plan from telcos where users are encouraged to pick a plan that best suit their needs.

What are the types of standard price plans?

First, let us take a look at the standard price plans available. At present, there are a total of 13 retailers offering over 60 standard price plans for residential consumers. These fall under one of the following 2 types:

    • Fixed Price – Consumer pays a fixed rate throughout the duration of the contract.

    • Discount Off the Regulated Tariff – Consumer enjoys a fixed discount off the regulated tariff throughout the duration of the contract.

How to go about choosing a price plan?

Now that you are aware of the types of standard price plans available, what should you keep in mind when choosing a plan? Here is a comparison of the 2 standard price plans offered by 13 electricity retailers.

Plans stated are accurate as of 8 November 2018 and are subject to change. For the latest price plans, please visit www.openelectricitymarket.sg or the retailers’ websites directly.

A. Fixed Price Plan

If you opt for a Fixed Price Plan, you will pay a constant rate per kilowatt hour for your electricity during the contract period.

The advantage of this price plan is that you are assured of the same rate every month throughout your contract with your retailer, i.e. more price certainty. Do note that the rate the retailer offers may be higher or lower than the regulated tariff which is reviewed every quarter.

As of 8 November 2018, Sunseap offers the best rate for 6-month contract, while SembCorp Power has the best rate for 1-year contract and both SembCorp Power and Geneco offers the best rate for 2-year contract.

B. Discount Off The Regulated Tariff Plan

If you are someone who does not want to think too much about price movements and wishes to pay less than the regulated tariff, a Discount Off the Regulated Tariff Plan may be the plan for you. Here, the rate will always be based on a fixed discount off the regulated tariff. The catch is, unlike the Fixed Price Plan, the rate may change each quarter during the contract duration.

As of 8 November 2018, Sunseap offers the best rate for 6-month contract, while Diamond Electric has the best 1-year contract and ES Power has the best rate for 2-year contract for a Discount Off the Regulated Tariff Price Plan.

As with making any comparisons for the best deal, it is important to read the fine print. Before you select a price plan, do consider these key areas:

  • The contract duration that you are willing to be locked in;
  • The amount of security deposit needed;
  • Whether there are any early contract termination charges and if so, how much;
  • The billing and payment arrangement offered by the retailers; and
  • Whether there are any bundled services or products or other additional perks offered, and to be aware of the terms and conditions associated with these perks.

The rates stated in the standard price plans should be inclusive of all charges for electricity consumption such as Transmission Loss Factor (a fee to account for network and transformer losses in the course of delivering electricity to consumers).

What else you should know when choosing a standard price plan?

While you may enjoy savings as a result of buying from a retailer, the amount you save could vary based on when you use electricity and how much electricity you eventually use. Of course, the type of standard price plan you choose plays a role as well.

Even after switching to a retailer, you can always switch back to buying electricity from SP Group at the regulated tariff. However, you might want to take note of any early termination charges levied by your retailer.

Finally, if you have any dispute with your electricity retailer (we hope not), you can always approach the Consumer Association of Singapore (CASE) for advice and assistance.

For price comparisons, please refer to www.openelectricitymarket.sg

Note: This article has been updated on 8 November 2018 to reflect the 2 standard price plans (instead of 3) with the latest pricing, and the inclusion of 2 new added retailers ES Power and Union Power.

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Benefits of Having A Financial Planner

Financial planning goes beyond the calculated investments. Building a financial plan helps you visualize the “big picture” and set financial goals (i.e., both long-term and short-term). This is a crucial step in mapping out your financial future. And, a financial planner or financial advisor may just help you with that!

Image Credits:pixabay.com

BENEFIT #1: ENUMERATING ONE’S FINANCIAL GOALS

The first step that financial planners partake in is the identification of the client’s financial goals. For couples, this activity is enough to get the two individuals on the same page. It highlights their similarities and differences. The funny thing is that many Singaporeans spend more time planning their travels than planning for their financial goals (e.g., retirement fund).

BENEFIT #2: DETERMINING WHETHER YOUR GOALS ARE SMART

After listing down your financial goals, the financial planner visualizes how you can get there. How much do you need to save S$10,000 a year? Should you invest your income in mutual funds? A cost-benefit analysis will be done. This act will put each of your goals in a microscope to see whether they are SMART! SMART stands for Specific, Measurable, Attainable, Realistic, and Time-bound. The financial planner must ensure that both your goals and your timeline are attainable.

BENEFIT #3: HAVING PEACE OF MIND

Certified financial planners have years of education, training, and experience working with different clients of diverse situations. Their broad professional background aids in assessing your needs. They are qualified to give you advice that reflects the best practices of the financial industry. Simply put, having a financial planner gives a sense of peace when it comes to knowing that you have an in-depth financial strategy in place.

BENEFIT #4: HIGHLIGHTING THE MONEY MISTAKES YOU MAKE

Analyzing your holistic financial picture exposes the mistakes that you are currently making.

Image Credits: pixabay.com

For instance, you disregard some of your credit card debts. This leads to paying a significant amount of money for penalty fees. Said mistake will be highlighted to ensure that you can apply an efficient fix.

Sources: 1 & 2

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