How much does tuition cost in Singapore?

Tuition (both private as well as the centers) are highly in demand among parents in Singapore compared to tuitions in the neighboring states as found by a survey conducted by an international news agency where they have found that more than three-quarter of the parents do invest on such academic agencies despite the fact that they cannot expect the best grades by just providing them a tutor. It was also that in Singapore, parents prefer to send their kids for extra classes even before their formal schooling has officially started in order to brush their English as well as their Math’s skills.

Here in this piece of writing we will be talking about the tutoring services available for children of all ages here in Singapore and how much would it cost you to send your child in one of them.

Pros and Cons of the Different Tuition types

1. Private Tuition

  • Advantages
  1. Home tutors engaged from a tuition agency can give one-to-one attention to students that is most desired by parents. Students do have different learning styles and the private tuitions can be designed in order to suit the exact learning style which are not possible in large classrooms or tuition centers/group tuitions.
  2. They can work out at the student’s pace.If the student did not understand something in the class then he/she can consult with the tutor later on at home and clear the problem they are facing in that particular chapter .
  3. Private tutors do take on the responsibility of doing the children’s homework given by the school. Homework of children of Standards 6-12 can be sometimes complicated for several parents with complex arithmetic and science chapters to deal with and this is when private tutors come to the rescue as they have become experts by teaching those subject for a long while.
  • Disadvantages
  1. Private tuitions are generally  expensive compared to other tuition types which is why not everyone can afford them.
  2. It is often very difficult to find a good private tutor that does meet the children’s needs.
  3. Most parents are also concerned about the safety of their children with the adults they do not know for sure, henceforth it is highly recommended for them to refer to a tutor agency that do screen its private tutors and have accurate reference.

2. Group Tuition /Tuition Centers

  • Advantages
  1. More affordable compared to private tuitions
  2. Students do receive materials that help them to understand the topic in a better sense.
  3. Students are able to discuss to share their knowledge and solve their problems      with other peers in the group/class.
  4. Helps with enhancing on social skills
  5. As the tutors in group tuition or tuition centers are working full time therefore it is seen that they are extremely committed to teaching.
  • Disadvantages
  1. As there are many tuition centers available, students are often sketchy which was to choose among the lot that would *actually* work hard on enhancing their skills.
  2. Also sometimes these centers do charge exceptionally which makes them unaffordable to many like private tuitions.

Some Famous Tuition Centers in Singapore

  1. The Learning Lab – This is a very popular and well trusted brand to parents in Singapore for the last 15 years with several branches spread across the country for preschoolers as well as college going teens. Their teaching style comprises of the following factor-knowledge, skills to pass the exams, develop the interest of learning within children.
  2. Mavis Tutorial Centre – This is another popular and yet affordable option to send the kids to if they are studying somewhere between the primary school level and A ‘levels. This, too like the Learning Lab, have branches all across the country.
  3. True Learning Centre –  It employs NIE (National Institute of Education) ,exclusive school that trains teachers-to -be here in Singapore. As they have already held important positions and won several teaching awards in their careers before they joined the center-the curriculum of the center is being exclusively designed by them that ensures the students are receiving the best help possible.

Reliable Tuition Agencies

At first glance, it appears that tuition agencies tend to offer the same service. However, from our experience, some companies go above and beyond and offer more than others. Our personal recommendation is SmileTutor. They are among the best and the most trusted private tutor agency here in Singapore. Here are the reasons why it is the best

  1. Tuition coordinators work around the clock to make sure that the assignments are being fulfilled on time by the pool of active home tutors from the whole range starting from Kindergarten to Junior College.
  2. The tuition matching system does ensure that the tutor being chosen does fulfill all the criteria demanded by the parents of the children.
  3. The highly qualified private tuition assignment coordinators do select the home tutors based on the home tuition rates and fees as requested by the parents.
  4. There is no contract being signed between the two parties which gives the parents the flexibility to change the tutor if they think the tutor is not appropriate for the child. Also the fees are being paid when the classes are being conducted hence no extra agent fees.
  5. The tutor contacts the parents within 6 to 24 hours after the request is being made.

 

Financial Comparison between Private Tutors and Tuition Centers

There is an average difference of not more than 10 SGD between the private tutors and tuition centers. The median range of the tuition fees for primary section is about 30 SGD per hour, 40 SGD per hour for the Secondary section and more than 55 SGD per hours for Junior College Section.

However for the private tuition, the rate depends on the qualification of the teacher. For a degree holder the rate is usually 30 SGD per hour for the primary section 40 SGD for the lower secondary section, 50 SGD per hour for the upper secondary section and 60 SGD for the Junior College. ,

The rates are however different if the private tutor has been trained from a MOE affiliated institute ,compared to the degree holder teacher who has not trained from NIE all the rates rise by 20 to 30 SGD for each section

 

Ending  

Parents do always the best for the children expecting them to excel in every stage of life. Therefore tuition or extra classes are not an exception when they notice their kids lagging behind in their academic pursuit. If spending an extra few bucks apart from the usual schooling fees can push up the grades from B to A for instance, they would not think twice to enroll their kids for extra classes. But as there is famous saying, “cut your coat according to your cloth”-an idea about the financial expenses of enrolling them for extra classes would help them decide the type of tuition that suits their economic budget.

 

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Flush Your Financial Worries With Stoicism

“We suffer not from the events in our lives, but from our judgement about them.”
~Epictetus

As I dealt with high levels of stress these past few weeks, I turned to Philosophy for guidance. A school of thought that transformed my mindset by 360 degrees is Stoicism. Stoicism highlights the division between what is happening to the world and how we emotionally respond to it. It is founded by Zeno, a wealthy merchant who had lost it all. In his despair, he turned to Philosophy for strength.

Stoicism helps us deal with our lives through virtues such as logic, temperance, justice, and courage. It encourages its followers to submit to the hardships or good fortune without complaints. Instead, you must understand the world and the people around you in a fair manner.

Image Credits: pixabay.com

Apply this influential way of thinking to your life by following these tips:

ABUNDANCE OVER SCARCITY

Whether you dwell on not having enough money to purchase a car or not having enough money to travel, many people associate money with scarcity. It is easier to complain about not having sufficient funds than engaging in random acts of generosity. You see, having a negative mindset about money can hinder the flow of abundance.

I am not saying that you should give out everything you own! There are other ways to extend your generosity. You can share your expertise or your time to someone in need.

RESPECT OVER CONTROL

Stoics hold a financial mindset that enables them to be respectful, but emotionally detached from money. This mindset allows them to make logical decisions in various area of life.

For them, there is no shame in leading a modest life. However, there is nothing noble about lacking money neither. They perceive money with a relative indifference whereby it has no effect on their self-worth or happiness.

RATIONAL MENTAL STATE OVER EXTERNAL THINGS

Stoicism wants us to realize that money can never solve all of our problems. It can only solve problems within the financial realm. How about the pursuit for happiness? External things such as money, fame, and success can never guarantee happiness.

There is nothing wrong with letting these external things be part of your comfortable life. However, the endless pursuit of these external things can only do damage than good. For stoics, happiness comes from having a rational mental state.

Interested in knowing more about the Philosophy of Stoicism? Watch the short video below.

Sources: 1 & 2

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What On Earth Is Goal-Based Investing?

First and foremost, we must define what traditional investing is. Traditional asset allocation optimizes the structure of a portfolio based on a generalized approach. Although it typically suits the needs of the institutional investors, it is not necessarily adapted to suit the needs of a private investor. A private investor, such as yourself, tends to create different portfolios corresponding to different needs.

On the other hand, goal-based investing is a relatively new approach in investing where the end justifies the means. Investing is directed to attain specific financial goals throughout an investor’s life.

“Goal-based investing involves a wealth manager or investment firm’s clients measuring their progress towards the specific life goals, such as saving for children’s education or building a retirement nest-egg, rather than focusing on generating the highest possible portfolio return or beating the market.” – Investopedia

Simply put, it re-frames success based on an investor’s needs and goals. Say that an investor’s primary goals are to save for the golden years and to save for the educational fund of his grandchildren. Goal-based investment plan would be more conservative for the former and more aggressive for the latter. As you can see, this approach will help you to withstand most market conditions and volatility.

Apply goal-based investing to your wealth management by following these steps:

Image Credits: pixabay.com

STEP 1: DETERMINE YOUR GOALS

Before anything else, you must identify your financial goals depending on your current life stage. Let us dive into some practical examples. As a young working adult, you may be eyeing on the latest gadgets (e.g., smart glasses, laptops, or smartphones). As a devoted parent, you may be considering the different educational options for your child. As a Singaporean reaching 62, you may be thinking about building your retirement fund. Having multiple goals in mind throughout the course of your life is perfectly fine!

STEP 2: ESTABLISH A TIMELINE

As you list down all your financial goals at the moment, you must keep prioritization in mind. Prioritize your goals by examining which ones you need and which ones you want to have. Afterwards, you must create a timeline for your final set of financial goals.

Do you aim to travel next month? Or, do you need to purchase a flat in the next 10 years? Measure the amount of time needed to realistically reach your short-term and long-term goals.

STEP 3: KNOW WHERE YOU START

How can you plan ahead, if you do not know where to start? Pinning your starting point is important in helping you achieve your financial goals. Administer a simple financial assessment by asking yourself a few questions. Firstly, how much money have you saved up? Secondly, do you have an emergency fund? Lastly, how much are your net worth and cash flow?

STEP 4: CREATE AN INVESTMENT PLAN

You are done with determining your final set of goals, setting a realistic timeline, and drafting your starting point. What is next for you? Well, you must put all of the above information together to create an Investment Plan. Create this by looking at four factors namely: risk profile, investment options, target amount, and asset allocation.

STEP 5: EXECUTE THE INVESTMENT PLAN

Investing for your financial goals does not stop with opening a savings account. You do not need to accumulate a massive amount of money to start investing neither. Instead, you must invest in a consistently as early as possible. As you invest religiously throughout your life, you need to review whether there are on the right path. Are you doing these things to achieve your financial goals? If so, continue on.

Image Credits: pixabay.com

Goal-based investing is a relatively new approach in investing where the end justifies the means. It may seem like an obvious or an oversimplified concept, but it represents a departure from the typical risk-tolerance framework. Will this investment strategy work well with your wealth management practices?

Sources: 1 & 2

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How To Become A Money Magnet

Equipped with a best-selling spirituality book, you realized that there was a secret to cultivating the life you want. I know how bizarre this sounds, but hear me out! Rhonda Byrne, The Secret’s author, claims that our thoughts can influence the world we live in. This concept of manifesting destiny is called “Law of Attraction”. According to this concept, investing positive energy and belief can lead to a desired outcome. In contrast, negative thoughts may attract negative outcomes.

Similar to other philosophies, the Law of Attraction stresses how the universe and its creations are made of flowing energy. Your energy can be used to either attract or repel money. To attract money based on the Law of Attraction, you may follow these steps.

STEP #1: OBSERVE YOUR THOUGHTS

How can you lure money into your life, if you feel negative about it? What goes around comes around. Before changing your thought patterns, awareness of your thoughts on money is important. Be mindful with how you speak about money and wealthy people.

Image Credits: pixabay.com

Do not be quick to diminish your worth. Instead, appreciate what you have. Law of Attraction entails that you train the universe to send you more money by receiving and appreciating it.

STEP #2: RE-FRAME YOUR THOUGHTS

Have you noticed that whatever you do in two weeks straight usually becomes a habit? The act of repetition is essential to reprogram the minds of animals as well as humans. Reprogram your mind to attract money by wishing for abundance.

Law of Attraction encourages you to send positive signals to the universe by dressing the part, by surrounding yourself with money savvy individuals, and so on. Behave in a way that is directed towards your desires.

STEP #3: MAKE A LIST

Visualization is one of the key tools of the Law of Attraction. It allows you to create a path that you can reach for. You are empowered to create a vision for your financial life. Be clear about the amount of success and abundance that you want to achieve. It is recommended to practice visualization on a daily basis.

Dive into the feelings of abundance by either making a financial list or by making a money vision board. Practicing visualization on a daily basis may open opportunities to manifest these items.

Sources: 1 & 2

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7 Top Tips for Managing Your Personal Finances

How you manage, spend and invest your money has a profound effect on the quality of your life. Proper money management equals financial independence. Plus, it will provide peace of mind, allowing you to use your organized state to save and plan for a bright and exciting future. Although learning how to become financially savvy can take a while, the basics are quite simple and never change. Here are 7 tips for managing your finances.

  1. Set goals

Money affects different areas of your life. For instance, your intent to retire early is entirely dependent on how you handle your finances today. The same applies to begin a family, home ownership and even changing careers When looking to manage your funds, start by writing down goals about what you want to do with your life and money.

Write down your long-term goals, whether it is buying a home or retiring early. Move on to writing your short-term goals like not using your credit card for luxuries or sticking to your budget. After that, prioritize them so that the most important ones come at the top of your list.

  1. Create a budget

This is the most important step of successfully managing your finances. A budget is a plan of the money you expect to receive and how you intend planning to spend it. A budget will show you;

  • How much money you earn
  • How much you spend
  • How much you can afford to pay the debt
  • How you can best plan your spending in the future

The basics of creating a budget

  • Choose a period you want to cover. This can be monthly, quarterly or even yearly, which is highly recommended.
  • Add up all your income for that period and the exact dates it will be coming in.
  • Calculate all your expenditure over that period.

Once you have all this data in place, you may want to make some changes to your finances which may include;

  • Spending less
  • Earning more
  • Spending smart
  • Saving and investing
  • Borrowing

Budgeting makes it easier for you to identify and resolve any financial problems you have.

  1. Make savings non-negotiable

Sometimes, the hardest part of saving is getting started. However, there is a simple and realistic way you can save for your goals, big or small. You can save money by opening up a savings account deposit at least 10% of your monthly payments into it. Also, strive to push all monetary gifts and extra earnings into that savings account as well.

  1. Pay bills on time

It makes sense to monitor all your monthly bills and even set reminders on when they are due. Timely bill payments will help you avoid losing money through late penalties and improve your credit score. One way to ensure you stay on top of your bills is through direct debit. Choose a payment date that suits you and makes sure to include it in your budget to make sure you never miss a payment or incur penalties again.

  1. Prioritize debt payments

Although not all debt is bad, some like credit card debt can make managing money difficult. One way to prioritize your debt is by creating a plan on how to pay it off. After that, prioritize this debt by interest rate and strive to pay the ones with the highest rates first. Also, make sure to include these payments to your budget.

  1. Borrowing

There are times in life when you run short of funds and need some financial assistance. If you plan on taking out a loan, make sure you can comfortably afford to repay it first. Also, take the time to match the repayment period for the purpose of the loan. You do not want to end up repaying Christmas over some years. First, make sure you understand the need for borrowing first.

Are you borrowing for an emergency, something essential, entertainment or traveling? Good money management can prevent you from taking redundant loans. If you choose to borrow, only do what you can afford. Most importantly, always rethink before asking for a loan. There’s a relatively new service available from Badcreditsite.co.uk which allows users to find the cheapest loan provider that will accept them without damaging their credit scoring.

  1. Embrace technology

Managing your finances is already complicated as it is. Fortunately, you can make the whole process a little less complicated by embracing technology. Their hundreds of free tools that can show you how to manage money and do all the complex budgeting and computational work for you. These tools make it easier for you to visualize your financial reality.

Being in a position to manage your money successfully will make life more comfortable and stress-free. It will save you more money, time, and prevent potential worries in the future. So take that first step to map out your financial strategy, and you will be good to go.

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