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Sneaky Costs Of University Education In Singapore

Everyone knows that saving money for tertiary education is not an easy task. With fees totaling to about S$8,000 a year, getting into your dream school takes effort and creativity. Not to mention, fees are graver if you are an international student.

Be forewarned that aside from the tuition fee, here are the “hidden or sneaky” expenses that can take a toll on your budget:

BOOKS

When you are studying at the university, you will realize that textbooks can get really expensive The prices of books you need to purchase depend on the modules you have to take per semester or quarter. A single reference book costs about S$45-100 based on my experience.

Despite these hefty expenses and as much as you would like to skip buying them, most of the required textbooks are crucial to pass the course.

SUPPLIES

When choosing your course, remember that you are making an important investment. You are investing for your future career in many ways including your supplies. For instance, if you are taking up a course in Media and Communications, you may be required to purchase a professional high-resolution camera. And if you are taking up architecture, it is uncommon to spend more than S$1,000 (per year) on tools and materials needed for model-making tasks.

SOCIAL GATHERINGS

For you to meet other people and expand your circles, it is almost necessary for you to join the school’s social gatherings. If you are a member of a club, you have to be ready for the registration fee as well as the special events fees. You can expect to pay within S$10-100 per event.

For example, since previous university club was hosting a workshop, we were required to share at least S$15 for the food and materials.

EXCHANGE RATES

If you are an international student in Singapore, you must consider the dynamics of the foreign exchange rate when budgeting your money. Whether you are exchanging your Indian Rupee or Philippine Peso, the current exchange rate can affect your total tertiary education expenditure.

An increase in the value of the Singapore Dollar will result to paying more than you had expected earlier on. In contrast, an increase in the value of your “nation’s currency” will result to you paying less.

ACCOMMODATIONS

Sick and tired of travelling for more than an hour from Woodlands to NUS? Or are you a foreigner studying in the Lion City? Consider renting a room in the HDB flat or living in the campus hostel.

NUS and NTU students can save more money in transport and rent by opting for the hostels that cost about S$220-580 per month.

Image Credits: facebook.com/nus.singapore

Sources: 1 & 2

5 Efficiently Quick Ways To Beat Financial Stress

These days, there is no shortage of reasons why people are anxious about money. From higher unemployment rate to expensive school fees, everyone has their own share of financial stressors. And these accumulated stress can be detrimental to one’s health when not managed.

On that note, here are simple ways to conquer your inner beast:

1. DETERMINE WHAT STRESSES YOU OUT

Spare at least 10 minutes of your time to identify what triggers your financial stress. Whether it is dealing with your horrific credit card balance or realizing that you are barely hanging onto your job, write down your three greatest financial stressors at the moment. It is important to keep the list short to avoid feeling overwhelmed.

2. CHANGE YOUR MINDSET

Staying positive in a seemingly challenging financial situation can help you get your thoughts together and motivate you to change. Rather than mourning about your piles of debt, visualize how great your life can be with less of them. Then, repeat an internal dialogue that aims to conquer that stressor. For instance, you may vow to spend about S$100 less each month in order for you to pay more for your debts.

3. FOCUS ON SMALL AND SUSTAINABLE GOALS

You do not have to beat your financial stress head-on immediately. Just as crash diets can lead to burnout, overly ambitious financial goals can lead to quitting. So sustain your goals by identifying what you can actually achieve each day and each month.

4. REWARD YOURSELF

Set a realistic budget and reward yourself for sticking by it. Alvin Hall, an author and a financial commentator on BBC TV, once said that a helpful way to lower your stress is to purchase something that has a long-lasting positive personal effect…for the least amount of money. Personally, visiting museums that display exceptional art uplifts my spirits while costing me S$0-20 only!

If you cannot think of any rewards right now, consider reading this guide: “36 Things You Can Do In Singapore, Aside From Spending Too Much Money”.

5. WRITE DOWN WHAT YOU ARE GRATEFUL FOR

Before you fall into a deep slumber, write down at least three things that you are thankful for. This changes your focus from your financial stressors to the beautiful things that you might have taken for granted throughout the day. It does not have to be a big thing!

This quickie activity is focused on giving you a positive strategy to cope with life’s difficulties.

Image Credits: pixabay.com (CC0 Public Domain)

If all else fails, do not hesitate to seek help from your friends, family, or financial professionals.

Sources: 1, 2, 3, & 4

4 Enchanting Ways To Run A Business Like Taylor Swift

Whether you are captivated by her or not, Taylor Swift is a smart businesswoman who has been making all the right decisions lately. A proof of her success was her album 1989 that sold millions of copies worldwide. To top that off, her current net worth is US$80 million (about S$111 million) according to Forbes.

From nurturing her relationship with her fans to embracing her authenticity, here are the 4 Enchanting Ways To Run A Business Like Taylor Swift:

1. CREATE AN EXCLUSIVE CIRCLE

If your product has a limited-edition content, customers can create a common circle wherein it is exclusive to them alone.

For instance, Taylor Swift’s CDs sold successfully not only because of her infectious music but also because of her personalized memorabilia (such as the limited Polaroid photo sets) as well as special fan codes (to win a personal meeting with her). Those who buy the CDs will immediately share its contents to their friends or social media. That is free advertising at its best!

Mimic this by offering occasional discounts and exclusive promotions. Keep your customers in the loop by sending out electronic announcements and decorating your shop with attractive posters.

2. UNDERSTAND YOUR AUDIENCE

Aside from talking to them genuinely, you must actively listen to what your target audience has to say. Take it from Taylor who not only showed her audience that she listens to them but also gets in their inside jokes (in reference to the “no its becky” tee).

Business owners who want to make the brand seem more approachable can interact and join in the discussions of the consumers thru social media. Accept feedback and take necessary actions to improve your business.

3. BE YOUR TRUE SELF

If you closely observe Taylor Swift during the awards season, you will realize that she is singing and dancing like she owns the place! She is not afraid to be her fun and quirky self that marches to the beat of her own drum.

As entrepreneurs, it is your duty to uphold your values and vision even if it is not aligned with what is on trend today. Avoid losing your consumers by staying true to yourself in your advertising/marketing campaigns.

4. APPRECIATE YOUR CONSUMERS

Aside from her killer dance moves, Taylor is known for having a strong bond with her fans. In fact, she personally invited 89 of her fans to her homes to provide feedback and listen to her 1989 album before it was released. This is a great technique to increase consumer satisfaction.

Channel your inner Swift by showing gratitude to your loyal consumers. Manifest your appreciation to your consumers by saying “Thank You” in person or by sending an electronic “Thank You note”.

Image Credits: pixabay.com (CC0 Public Domain)

This simple and inexpensive gesture will impact the way they view you and your company as it will make them feel valued and special.

Sources: 1 & 2

Is It Time To Embrace The Rise Of Digital Red Envelopes?

First comes Snapchat’s Snapcash then there was MasterCard’s Selfie Authorization, and now we make way for the digital Ang Baos.

Yes! You read that right.

As we usher in the Year of the Monkey, China’s three Internet giants namely Baidu, Alibaba, and Tencent (developer of WeChat messaging app) offered their own versions of digital red envelopes. Even the Chinese government weighed in as they gave away a total of 300,000 RMB or about S$63,000 through Alipay – Alibaba’s digital payment service. However, the most impressive of them all was Tencent’s WeChat app.

WeChat‘s red envelope scheme started in January 2014 in support of its digital payment service called WeChat Payments. Its functions include sending virtual money, withdrawing cash, and checking the transaction history.

Its popularity spread like wildfire since its inception. In fact, last February 8 marked a milestone as over 8 billion of digital red envelopes were sent through WeChat’s gifting scheme. That signifies an eight-fold increase from the previous year.

The types of WeChat’s red envelopes are as follows:

a. REGULAR RED ENVELOPE – upon availing this, the user can specify the amount of money he or she wants to give.

b. RED ENVELOPE LUCKY DRAW – upon availing this, the user will allocates a lump sum of money to a “group red envelope” wherein a number of small red envelopes are inside it. After posting this on a group chat, WeChat will randomly assign an amount for each recipient’s red envelope.

Although these all sounds fuss-free and convenient, you must consider its disadvantages. For instance, digital platforms are susceptible to cyber crimes. In 2015, a user who claimed to be the billionaire Chen Guangbiao deceived many WeChat users and ended up receiving a significant gain from them.

Also, digital Ang Baos may take away the family re-connection that the tradition entails.

Image Credits: pixabay.com (CC0 Public Domain)

So ask yourself: “Do you want focus on strengthening relationships or on monetary incentives?”

Sources: 1, 2, & 3

Top 5 Tunes About Wealth And Money

Relationships, heartbreaks, and love may be the most observable theme in the music charts today but you cannot deny that money comes next.

Whether you like listening to songs about the pains of fortune or the joys of owning material things, there seems to be no shortage of songs about money. In fact, Jay-Z’s new record label “Magna Carta Holy Grail” stressed his insistence on continuing to rap about his wealth.

With that said here are the tunes that prove how complex and well-documented money is…

1. She Works Hard For The Money by Donna Summer

From the Queen of Disco herself – the late Donna Summer’s “She Works Hard For The Money” swiftly became one of her signature songs.

2. Mo Money Mo Problems by The Notorious B.I.G. ft. Mase & Puff Daddy

Life After Death album’s lead single is one of the first songs that come to people’s mind when talking about money-related lyrics. The catchy chorus says a lot about the difficulties faced by Biggie after he began growing his wealth.

“I don’t know what, they want from me
It’s like the more money we come across,
the more problems we see”

3. Taxman by The Beatles

A timeless dedication to the United Kingdom’s government taxation, “Taxman” came about when the band realized that it was losing a bulk of its earnings due to the supertax that Harold Wilson had introduced.

4. Like Money by Wonder Girls ft. Akon

“Like Money” is a song that mashes both love and money as a theme. In its first week, the song debuted at number 11 in South Korea. By the end of August 2012, its popularity soared to about 583,737 downloads in south Korea alone.

5. Bills by LunchMoney Lewis

Exuding elements of hip-hop, ragtag, and jazz, this hit is the debut single of the American rapper called LunchMoney Lewis. It is about a man who is overwhelmed about his debts and bills that he has to work harder everyday in order to make sure that they all survive.

I have to admit, I cannot get enough of this song!

Sources: 1, 2, 3, & 4

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