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3 Ridiculously Expensive Purchases Feeding Singapore’s Materialistic Urges

In 2012, a study published by Singapore Management University showed that female university students who were locals were significantly more materialistic than their American counterparts.

Living in the most expensive city in the world, it is inevitable to equate one’s stature to one’s wealth. The validation we get from other people while flaunting our expensive items is flattering at first but it is harder to maintain in the long run.

Instead of inciting envy, how about you focusing on improving your self-worth by avoiding these ridiculously expensive purchases:

1. DESIGNER BAGS

There is no better way to wear your “wealth” than by carrying a bag that screams costly designer price tags wherever you go! While you may feel excited, happy, and satisfied the first few months, you will soon be craving for a new one to widen your collection.

With the ever-changing fashion trends, is it really worth spending over S$4,000 on a mini Chanel bag? For me, making new experiences with your loved ones while traveling overseas is a better way to spend that pile of cash.

Think about it. You have to strictly save up and resist temptations as this huge amount of money equates to about 2 months of your salary (in reference to the average wages of Singaporeans)! Sporting your sleek Chanel bag may display your “high status” but the preoccupation to limiting your daily expenses can cause long-term unhappiness.

2. JEWEL OF PANGAEA

Do you want to experience an extravagant cocktail at one of Singapore’s most luxurious nightclubs? If you answered yes then, you have to fork out about S$32,000 to experience the “Jewel of Pangaea”. The Jewel of Pangaea consists of vintage Krug, Richard Hennessy cognac, smoke-infused sugar cube, and 1-carat triple X diamond from Mouawad.

The renewed mixologist prepares the shining jewel garnishing over foamy liquid of gold in just 45 seconds. 45 seconds – the short amount of time it would take to flush your S$32,000 down!

3. 3D TELEVISIONS

Dreaming of a movie theatre-like experience at home?

Few people turned that dream into reality by purchasing 3D television that includes 3D glasses, lifelike images, vivid colors, and 3D effects. In Singapore, the price for this set ranges from S$2,800 to S$14,999.

Knowing that the majority of the owners (i.e., almost 80%) in United Kingdom regretted their purchase…will you still buy one for the sake of showing off your extravagant television to others?

Image Credits: pixabay.com (License: CC0 Public Domain)

Avoid making ridiculous purchases that are meant to fill your emotional void by questioning your buying habits. Also, be grateful for what you have. The less you give into the unnecessary wants, the less financial and natural resources will be impacted!

Sources: 1, 2, 3, & 4

5 Genius Ways To Save Money As A Start-Up

As a budding entrepreneur, your new business is tied with cash. With hundreds of things on your plate, you are either looking for more ways to boost your profits or more ways to save money.

Look no further as this list will explore smart ways where your small business can save money in its early phases…

1. SAY “YES” TO FREE AND CHEAP ADVERTISING

You do not need the fanciest commercials or the flashiest banners to bring in more customers. For now, all you need are free websites to post your ads.

Online classifieds are a good choice as these are cost-effective, convenient to relay contact, visible to a large-scale of consumers, and the you are able to edit a listing anytime. Browse a list of premier advertising websites here.

2. ONLY HIRE PEOPLE WHEN YOU NEED THEM

As a start-up, you are testing every aspect of your business including the amount of labor necessary. Do really a marketing team or can you handle the marketing aspect by yourself?

Instead of hiring professionals to do the job for you, you can commit several hours in developing skills. This is why it is not a good idea to hire a huge team of workers and waste a hefty amount on wages earlier on.

And when you decide to hire help, good sources of quality yet low-cost labor are university or polytechnic interns. If you are willing to supervise and devote your time to training, both of you can benefit from the experience. Think about it! You are giving a worthwhile experience and good recommendation for the intern while the business is receiving low-cost (and sometimes free) services.

3. USE A BUDGETING SOFTWARE

If you have zero knowledge on accounting or you need more help in your budget planning, then you must consider accounting software.

Aside from using an Excel spreadsheet, you may budget like a pro by using accounting software called inDinero. inDinero helps you run the small business better as it safeguards your transactions, your cash flow, and your expenses. It connects the bank accounts so you can visualize where your money goes. Furthermore, it helps you with your payrolls and taxes.

4. ARRANGE ONLINE MEETINGS

Globalization paved way for international affairs to be easily accessible. So if you have clients or workers who are overseas, what better way to hold meetings than by using inexpensive online tools such as Skype video conferencing or Facebook video chat?

To save even more, invest in laptops instead of desktop computers, as these laptops are not only less expensive but also consume less energy. Whenever possible, use these laptops and Internet tools to communicate effectively.

5. SAVE ON YOUR WORKSPACE

Office spaces in Singapore can get very expensive! Instead of forking out your wealth, you can consider sharing your space and splitting the rent with another small business. In fact, you can rent a flexible space for as low as S$450 a month with Regus.

Regus is a global company that has been around for more than two decades. With over 25 building locations islandwide, you will be able to find a space that suits you best! 🙂

Image Credits: pixabay.com (License: CC0 Public Domain)

Sources: 1, 2, & 3

Here’s How You Can Effectively Earn Cash Through Facebook

Facebook is one of the strongest social media platforms that have been dominating its competitors with over a billion users worldwide. It presents a great opportunity for business and people like us to generate money in the comfort of our own home.

To begin, here are 4 ways you can make money through Facebook:

1. SELL YOUR STUFF

Social media, defined as websites or applications that enable the users to share content and to network, allows daily access of many consumers…all over the world. With this knowledge, you can supplement your Facebook post with a Facebook Ad.

For example, you may clean up the clutter in your closet and find the things that you deem to be unused or underused and sell them to your friends and family through a creative Facebook page. Treat it as your virtual “garage sale”!

Alternatively, you can turn your hobbies (e.g., baking cakes or making soaps) into your home-based business.

2. USE SOCIAL INFLUENCE TO INCREASE SALES

Aside from directly selling on your Facebook page, you can redirect the post to a website that you own. This is a revolutionary idea that the 20-year-old Koby Conrad embraced. He owns an online shop called Hippies Hope Shop that sell unique items such as ring bracelets, crystal necklaces, hookahs, wood incense, and hippie clothing.

Because of consulting and mentoring, Conrad was introduced to the power of social media. He markets his items and receives traffic to his shop just by posting them on a Facebook page he runs called “The Hippy Bloggers.” With a Facebook page that has over 150,000 likes, he now runs a small business and taking on investors. Remarkably, this millennial is now living off Facebook!

Image Credits: facebook.com/TheHippyBloggers

3. GET PAID FOR ANSWERING FACEBOOK SURVEYS

Yes! You can get paid for your opinions that you are otherwise putting out there for free. If you are the type of person who is decisive and opinionated, try completing paid surveys offered by companies, universities, and other industries.

On the flip side, if you are the researcher, you can tap a massive focus group and reward them after by using SurveyMonkey and Facebook. Gather feedback from a wide range of people and enable them to share the survey easily by using SurveyMonkey’s Facebook Collector on your personal page or SurveyMonkey’s Web Link Collector on your fan page.

4. JOIN AFFILIATE PROGRAMS

Big companies and websites offer affiliate programs that pay you for your advertising efforts. Most of these affiliate programs provide you with marketing materials (e.g., link-backs or promotional banners) and pay you depending on how much traffic and sales you generate. In other words, this is a commission-based activity.

For instance, you can either take up Amazon or Qoo10’s affiliate program. Amazon offers a competitive affiliate program that pays you a percentage of sales after a person makes a purchase through your Facebook post. Simply follow these instructions.

While Qoo10 Curator Affiliate Program gives you 2% of the total sales amount if the item is sold due to your curating efforts. And if the item is sold due to your advertising efforts, you will receive additional rewards that are set by the sellers. The best thing is that you can join this program with no minimum traffic numbers and no initial fee! Simply share items, promotions, and others posts in social media platforms such as Facebook and Twitter.

Image Credits: facebook.com/Qoo10Singapore/

Click here to know more!

Sources: 1, 2, & 3

Boost Your Health And Wealth Through Running

It is never too late to catch up on your “2015 New Year’s Resolution”!

And if losing weight or keeping a healthy physique is a part of your list, try crossing it out by running regularly. Running is a convenient and affordable option. You can do it almost anywhere without the need of costly equipments – aside from a pair of running shoes.

There are fewer barriers in maintaining a running regimen too! I know this personally because my sister and I make it a point to run outdoors as much as possible. Aside from this, running boasts with many benefits from strengthening your finances to overall health!

Read for yourself:

1. WEIGHT LOSS

High-intensity exercises stimulate more “afterburn” of calories than low-intensity exercises. In fact, a long-term comparison study of runners and walkers showed that calories burned through running resulted to 90% more weight loss than walking. Thus, running regularly helps you to shed and maintain your desired weight.

If you are still skeptical, here are 15 inspiring weight loss stories aided by running.

2. ENHANCE YOUR HEALTH

Running regularly has been shown to improve cardiovascular fitness, strengthen the muscles, and increase the levels of good cholesterol. It also aids in building stronger bones, as it is a weight-bearing exercise.

With health benefits like these, how can you not love running?

3. REDUCES STRESS AND DEPRESSION

Aside from its physical benefits, running radiates emotional benefits too!

Running outdoors and feeling the glimmer of the sun can make you feel better. Getting at least 30 minutes of exercise a day (5 times/week) can alleviate the symptoms of depression and sunlight reduces stress and improves one’s mood, according to the researchers from University of Pittsburgh and Carnegie Mellon University.

What’s more? Since running helps emit endorphins or “happy hormones” without the need of prescription drugs, you can reduce the symptoms of depression naturally.

4. HELP YOU EARN MORE

If you are still contemplating on whether or not you must run or not then, you must know that regular exercise helps to increase your salary.

In 2012, a study published under the Journal of Labor Research found that employees who exercise regularly earn 9% more than their lazier or sedentary counterparts. This may be due to the enhanced mental function, energy levels, and mood. These improvements make them more valuable to their employers.

Image Credits: pixabay.com (License: CC0 Public Domain)

What are you waiting for? Grab a good pair of shoes and start running at your nearest town park!

Sources: 1, 2, 3, & 4

4 Incredible Rags To Riches Stories

These people came from merely nothing but now they have a whole lot of wealth than the average person. Taking the leap of faith and believing in themselves led them to profit through adversity.

Without further adieu, here are four inspirational rags to riches stories:

1. HOWARD SCHULTZ

Raised in a housing project in Brooklyn, Starbucks’ Howard Schultz was a son of a struggling truck driver. Despite their poverty, he excelled at football. Fortunately, this earned him a scholarship to the University of Northern Michigan.

After finishing tertiary education with a degree in Communications, he worked for Xerox Company before discovering a small coffee shop called Starbucks. Filled with his love for coffee, he soon left Xerox and focused on becoming the chief executive of Starbucks.

Image Credits: pixabay.com (License: CC0 Public Domain)

As of today, his net worth amounts to US$3.2 billion (S$4.5 billion).

2. JOHN PAUL DEJORIA

As a first generation America, John Paul DeJoria and his immigrant parents had it tough from the start. His parents divorced when he was just 2 years old. By age 9, he and his brother began selling newspapers and greeting cards in order to support their family. Life did not come easy soon after as he lived in a foster home and become a part of a street gang.

Thankfully, he graduated secondary school and spent two years in the United States Navy. After which, he held numerous jobs ranging from a janitor to an insurance salesman. In 1980, things changed. He teamed up with Paul Mitchell and turned a US$700 loan into a hair-care company called John Paul Mitchell Systems. Now, it is known worldwide as the Paul Mitchell hair products with estimated annual revenue of US$1 billion (S$1.4 billion).

He is also the co-founder of the famed tequila company called “The Patron Spirits Company”. Currently, his net worth amounts to US$3.1 billion (S$4.4 billion).

3. ANDREW CARNEGIE

Who would have thought that a Scottish American with barely a dollar to his name would soon be the richest man in the world?

Andrew Carnegie migrated to the United States with his low-income parents in 1848. He then started to work as a telegrapher. 10 years later, he had investments in railroads, bridges, railroad sleeping cars, and oil derricks. Then, his wealth increased further as he worked as a bond salesman.

He became the world’s richest man in 1901. Aside from having a high profile, he was also a philanthropist. This is the reason why he gave away about 90% of his fortune (US$350 million in 1919 = US$4.7 billion in 2015) US to charities by the time of his death.

4. OPRAH WINFREY

One of the most recognizable faces in the world definitely did not grow up in a pool of luxury. American media maven, host, producer, publisher, actress, and philanthropist Oprah Winfrey was born in the Mississippi with her teenage single mother. She experienced hardships during her childhood such as being raped at age 9 and becoming pregnant at age 14. Unfortunately, her son died in infancy.

But these struggles only strengthen the young Oprah as she entered the halls of media in her first job as a newsreader in a local radio station. Later on, she got a daytime talk show in Chicago. The rest was history.

Persevering through life and diversity earned her a net worth of US$3.2 billion (S$4.5 billion)!

Sources: 1, 2, 3, 4, & 5

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