Restore Your Faith In Humanity With The Good Samaritans Of Singapore

With the Internet’s power to create different debates and to fuel the flames of negativity, it is essential to shed a light on positive stories. Stories that focus on human acts of random kindness can make your warm your hearts.

These positive stories are guaranteed to make you feel hopeful about our growing species. Who knows? It may even inspire you to do good yourself. On that note, here are some random acts of kindness that will make your hearts warm!

#1: GOOD FINANCIAL DEED AS AN EMPLOYER

2015 was a good year for Crystal Jade employees. You see, their former boss gave bonuses of up to S$40,000 to current and former Crystal Jade employees in Singapore. I am referring to the Hong Konger and the Singapore permanent resident – Mr. Ip Yiu Tung.

Mr. Ip Yiu Tung is the former boss of Crystal Jade, a restaurant known for its delicious and juicy xiao long baos. He sold his stake and remained as the adviser and brand ambassador of the company. Upon earning a significant amount of money from his financial move, he decided to share his blessings. In an interview, he was quoted saying:

Image Credits: pixabay.com

“I am not greedy. I don’t need more money to make me happy. I was already happy. I need a meaningful life, not just money.”

#2: GOOD FINANCIAL DEED AS AN EMPLOYEE

Did you know that a mover in Singapore recently returned S$50,000 inside cabinet that customer had forgotten was there? You read that right!

Honesty seems like a rare gem these days. When it comes to the moving business where you are entrusted with handling the clients’ precious items such as furniture and other valuables, honesty becomes integral. This is what Prestige Moving Services has proven.

This is Mr Jake. One of our best man. We would like to express our gratitude to him for his honesty which not many…

Posted by Prestige – Moving Services on Saturday, January 12, 2019

One of their employees, Mr. Jake, found S$50,000 wrapped up in a plastic bag at a corner of the client’s cabinet. The money was believed to be forgotten by their client. Mr. Jake made the best decision to return the money right away.

He gained much praise in the eyes of the Netizens, especially because his looks can be deceiving. Many were quick to point out that he was a trustworthy person despite appearing to be a muscular man covered with tattoos. This story goes to show that you must not judge a person’s character based on his or her looks alone!

#3: GOOD FINANCIAL DEED AS A STUDENT

How can you help someone financially if you have little to offer? Well, you may start by helping someone win the lottery! That was what Bryan Lee, a Nanyang Polytechnic student, did last year.

Let us begin the story. A couple supposedly won S$2,500 in 4D after dreaming of the lucky number. However, said couple lost the ticket. Storekeeper Neo Hock Wah said that his wife had used S$10 to buy a 4D ticket. Unfortunately, his wife dropped this ticket from her wallet while alighting from a bus.

Neo’s wife had taken a picture of the ticket. However, you cannot redeem the prize money with this method alone. To the Singapore Pools’ defense, anyone can digitally edit a “ticket” nowadays.

The couple decided to seek help from the Netizens. Fortunately for them, a student by the name of Bryan Lee picked up the ticket from the same bus the wife had taken.

Seeing that the ticket was in good condition, Bryan realized that someone might have lost it by accident. He contacted the worried couple via Wanbao.

Image Credits: pixabay.com

In Bryan’s humble words, he said: “My priority was to find the owner. Just because I can collect the lottery money does not mean that was the right thing to do.”

Sources: 1, 2 , & 3

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4 things to expect when you invest in P2P lending

Peer-to-peer lending, or P2P lending, utilizes technology and big data to connect investors and small and medium-sized enterprises (SMEs) looking for business funding. To investors, it provides them with an opportunity to earn passive income by financing business loans for SMEs.

In Southeast Asia, P2P lending has witnessed significant growth in recent years, led predominantly by Singapore. To date, around 60 platforms are currently operating in the online lending and crowdfunding space, which have become an increasingly popular alternative investment option.

If you’re wondering how you can take part in investing with P2P lending, Funding Societies would be a great place to explore. As of January 2019, Funding Societies has onboarded more than 85,000 investors across Singapore, Indonesia and Malaysia and provided more than S$350 million worth of investment opportunities in crowdfunded loans.

Here are four things you can expect when investing in P2P lending through Funding Societies.

1 / Investments with short tenors

Funding Societies offers three investment products: Business Term Loan, Invoice Financing, and Property-Backed Secured Loan. Business Term Loan allows you to make investments by financing SME loans with tenors ranging from 1-12 months. In return, you will receive monthly repayments of principal and interests. You can maximize your returns by reinvesting your repayments to new loans.

Meanwhile, with Invoice Financing, SMEs would be able to cash out by pledging their invoices to Funding Societies. Invoice Financing has a shorter tenor, which generally lasts for only 30-120 days with a one-time repayment of principal and interest at the end of the tenor.

With Property-Backed Secured Loan, investments are secured by a property (residential, industrial, or commercial). Different from the other products, Property-backed Secured Loans offer security in the form of property as a collateral, and is a good option to add diversification to your investment portfolio.

2 / Potential returns up to 14% p.a.

As an investor, the returns you get from your P2P lending investments come in the form of interests paid by SMEs.

Given that P2P loans are generally more flexible in its tenor and SMEs that get financing from Funding Societies have shorter or imperfect operational track records, interest rates are determined accordingly based on risk, in the range of 8-18% p.a.. Higher risks typically come with higher returns, so investors should invest based on their appetite for risk.

3 / Regular updates from the platform

Expect to get regular updates from Funding Societies as an investor on the platform! With every important event or update, the platform sends alerts via email or in-app notifications so that investors are constantly kept up to date with us.

For instance, whenever there is an upcoming loan for crowdfunding, investors will receive an email notification. In the event of late repayment or if there’s an update for specific loans, Funding Societies will also communicate in the quickest and most transparent way. So make sure you switch on your app notifications for any important alerts!

If you need any further clarifications, Miyu, Funding Societies’ very own chatbot, and our customer experience (CX) team will be happy to answer all of your questions via live chat. Or call us at 62210958 to have a quick chat with our team.

4 / Well-designed User Interface (UI)

Invest with Funding Societies – User Interface

Funding Societies Mobile App – Dashboard

Investors should be able to review their portfolios easily. That’s why Funding Societies has improved its website and mobile app to provide details of your investment portfolio in a clear and concise manner.

As an investor, you can review your portfolio, change your auto-invest settings, crowdfund a loan, and even use the live chat feature — all in one mobile app! It’s so simple, convenient and efficient, which is why 80% of Funding Societies’ investors are investing on the go.

Got more questions? Ask Funding Societies on 24 January 2019!

Funding Societies is hosting an investor event on 24 January 2019 evening to share more details and insights of how P2P lending works on its platform. You’ll also be able to meet the team and get to ask them all the questions.

  • Date: 24 January 2019, Thursday
  • Time: 6.30pm – 9pm
  • Venue: Lowercase Cafe @ 1 McNally Street (Rochor MRT)

Sign up for the event here.

This article is adapted from this article which first appeared on Funding Societies’ blog.

Disclaimers:

This article is contributed by Funding Societies.

It should not be construed that Moneydigest is endorsing this article or any of the products and services provided by Funding Societies.

Nothing in this article should be construed as constitute or form a recommendation, financial advice, or an offer, invitation or solicitation from Funding Societies to buy or subscribe for any securities and/or investment products. The content and materials made available are for informational purposes only and should not be relied on without obtaining the necessary independent financial or other advice in connection therewith before making an investment or other decision as may be appropriate.

 

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Surefire Ways To Save Money Aside From Quitting The Lottery

One of the pastimes that my father has passed on to us was betting on the lottery. Whether you are an avid fan of the 4D or TOTO, many people believe that winning these can give them a shot to be a crazy rich Asian overnight.

Reality check! That is not the case for many of us. In fact, a recent Facebook post showed that you can earn a significant amount of money by saving your “lottery funds”. Eilin Tan from Malaysia shared how her father saved up all the money he would normally spend on buying 4D. He started last January 2018. A year later, he found that the total savings was equivalent to the top prize. Both were shocked! Netizens estimate that the money could be worth RM6,000 to RM15,000 (about S$1,900 to S$4,900).

Image Credits:pixabay.com

Much like Eilin’s father, you can commit to simple changes in your life to improve your finances. Start with these aspects:

#1: ASSIGN A FINANCIAL DATE

Much like designating a day for your beloved, you must assign a day to assess your finances. The first step towards saving money is to look at your current spending habits. Which categories can you cut down on? Find specific areas in your expenses which you can reduce without compromising your lifestyle.

Image Credits:pixabay.com

Afterwards, you must track your progress in relation to your financial goals. Spend time with your money to improve your financial life.

#2: WAIT BEFORE YOU CHECK OUT

When it comes to saving money, make delayed gratification your best friend!

These days, you can get anything you want with a quick click or tap of a button. There is an instant gratification for almost anything you can think of. To combat impulse buying brought by said convenience, you may find a buffer. Employ a self-imposed waiting time. Wait a day or two before spending your money on things that cost more than S$60. When you practice this on a regular basis, you will realize that most of your purchases are triggered by wants rather than your needs. Moreover, you will be able to save more money and work towards mindful spending.

#3: CHOOSE QUALITY OVER QUANTITY

Minimalism is one of the latest trends that I subscribe to. It encourages consumers to choose quality over quantity. This can be applied to clothes, gadgets, food, home decorations, bags, and so on.

Yes! It may be tempting to purchase cheaper alternatives on a regular basis. However, you must remember that your small purchases add up! Choosing quality products will help you save money in the long run.

Image Credits:pixabay.com

What is the best that you can afford now? Use the cost-per-wear philosophy when it comes to clothing, accessories, and shoes. Stick to classic silhouettes, which you can use for a long time.

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Countdown To Retirement: The Final 5 Years

One of the most significant transitions in your life is about to begin. In a blink of an eye, you have reached your 60s. Retirement may not be a pressing concern for most of your working life, but it is surely happening soon.

The sense of urgency stimulates your awareness. You will begin to pay close attention to insurance commercials and to the company’s retirement benefits. You will go through your CPF savings and analyze whether it is enough. How about your investments? Is your money invested on an aggressive portfolio or not? More importantly, do you have a last will and testament?

Many of us consider retirement as a vague and seemingly distant concept rather than something happening in the near future. With this mindset, you may not be able to prepare well it. Use the last five years to examine your financial situation. Make the appropriate moves to substantially improve your life during retirement.

CLOCK: FIVE YEARS BEFORE RETIREMENT

There is no doubt in the saying: “the first cut is the deepest”. You can call it a rude awakening, but this initial step will dictate your future actions. Examine your overall financial situation.

Be honest with yourself. How much have you saved up while you were working? Do you have other streams of income that can generate enough cash to cover your fixed expenses in retirement? How much can your CPF cover?

Image Credits: pixabay.com

I understand the brewing worries tied up to these numbers. It is time to face your fears! Know that there is still time to change your investment strategies, to eliminate unnecessary expenses, and to re-frame your retirement expectations. Seek the help of a qualified financial adviser who specializes in retirement planning. He or she can sort out all your concerns including the making of you last will and testament.

CLOCK: THREE YEARS BEFORE RETIREMENT

While work can be stressful, it can also give a sense of accomplishment. What will happen once it is taken from you?

Aside from organizing your financial plans during retirement, you must determine how you will occupy your time. Many of us forget this aspect of aging. It is important to contemplate on how you will occupy yourself in retirement. Consider the Psychological or emotional impact of not having a steady job or not having a routinely “purpose”. Your feelings may be similar to undergoing loss.

Yesterday, my grandfather told us that he is planning to travel overseas. He wants to dedicate this time of solitude on searching for peace and happiness. This may sound cliché to some, but he never had the time to travel on his own. You may want to spend your retirement touring the world. Like my grandfather, consider what will bring you happiness.

Do not be afraid to explore hobbies or join social group within your neighborhood. These things will keep engaged once you are retired.

CLOCK: A YEAR BEFORE RETIREMENT

During this time, your primary goal is to cut down your debts and spending. This is where your retirement budget comes in handy!

You will probably experience a considerable drop in income once your paychecks go away. Following this logic, your retirement expenses should not necessarily mirror your current expenses. You need to adjust your lifestyle following a monthly budget that will include costs like healthcare and leisure activities. Know how much you can realistically afford with the help of your financial adviser.

Lastly, you must take a look at your investment portfolio. If your savings appear to deliver the income you need in retirement, some experts recommend to pull back on your stocks. Use this money to invest on short-term investments or other conservative asset classes. I am not saying that you should suddenly become a risk-averse investor. Instead, you need to make more calculated moves. Growing your portfolio over the next couple of decades entails exposure to stocks.

Image Credits: pixabay.com

Ultimately, preparing for retirement will support the remaining years of your life.

Source: NY TIMES

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How To Fool Yourself Into Saving Money

If money could talk, my wallet would be having a farewell party. I am not exaggerating! The weight of the Yuletide Season has been hard on my budget. You see, we are constantly bombarded with flashy sales and social gatherings.

The materialistic temptations becomes harder to resist due to the year-end bargains. Not to mention, the convenience of swiping a credit card makes spending easy!

Fortunately for you, there are other strategies that you can employ to save money. See how much you can potentially save with these four money tricks!

PUSH THE AUTOPILOT

How can you spend money that you do not see? This is no “vanishing coin act”! Instead, I am referring to automating your savings. Setting up an automatic transfer to your savings account can help you fulfill your financial goals. Whether you are looking forward to the night market or the BTS concert in Thailand, your expenses can be covered by your savings.

There is truth to the phrase: pay yourself first. Allotting a portion of your income to personal savings is as easy as allocating a budget for your phone bill. Upon getting into the habit of saving, you will be able to resist the temptation of spending. Ask your bank for guidance in automating your transactions.

EVERY CENT COUNTS

As I was walking to a dollar store, I saw an elderly man leaning towards the coin he just dropped. No matter how small a currency may seem, every cent counts. It is only logical to say that keeping your loose change in the course of the year can add up to a few hundreds of dollars! So, consider developing the habit of growing your cents.

Begin by getting an empty jar. You may turn it into an arts and crafts activity by having your child decorate the surface of your jar. Afterwards, empty the contents of your wallet every three days. Pour all the loose change into your decorated money jar. By December, you may exchange these coins for bills at your local bank. Growing your money jar will not only declutter your wallet, but also grow your wealth.

REMOVE THESE NUMBERS

Let us face it! Online shopping has been more prevalent than ever. The mere fact that you can get a blanket set from IKEA Singapore within three business days only shows how convenient it is to shop. The virtual market’s prompt gratification can breed addiction. Personally speaking, a friend of mine gets various packages sent on a weekly basis. It is crazy how each one comes from different parts of the world!

You open more rooms for financial vulnerability by setting up a customer account and saving your credit card information. So, consider deleting your online shopping accounts.

Adding an extra layer of difficulty while shopping gives you more time to weigh whether you really need to purchase an item or not. If you lack courage to delete the information on your own, you may ask the help of your trusted spouse. Who knows? This third party intervention may just be the solution to avoid impulse purchases.

A SINGLE QUESTION

As I was walking inside a fast-fashion store, I realized how random purchases can take a toll into my finances. Stocking up on adorable yet unnecessary items on Daiso can affect my budget for the next day. If only you can ask yourself a single question!

Do you believe that a single question can change your spending outlook? Well, it sure is possible! Who knew that a sequence of words can convince you to leave a shop without a cart full of non-essential items.

Simply ask yourself this: “Did I need it yesterday?” If you do not need it yesterday, you probably do not need to buy it today. By asking acknowledging whether an item is a need or want can help you stick to your budget.

Image Credits:pixabay.com

Saving money does not have to be a chore! May these easy tricks help you reach your savings faster than you would have thought.

Sources: 1 & 2 

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