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5 Personal Finance Tips for Singaporean Millennials

Navigating personal finance can feel like navigating a maze, especially for Singaporean millennials facing unique financial challenges.

From student loan debts to saving for a home in one of the world’s priciest property markets, the journey can seem daunting. But fear not, with the right mindset and strategies, financial security and success are within reach.

EMBRACE BUDGETING

Budgeting is the cornerstone of personal finance. It empowers you to track expenses, prioritize spending, and work towards financial goals. Start by understanding Singapore’s cost of living and allocate your income accordingly.

Track expenses diligently; even that artisan morning coffee can add up. Utilize budgeting apps and tools to streamline the process and stay accountable. Take advantage of credit card perks responsibly to avoid debt accumulation.

MANAGE LOANS

For eligible Singaporeans, Tuition Fee Loan and Study Loan are available options. To assist those grappling with student loan debts, explore repayment options and loan consolidation programs.

Craft a repayment plan that aligns with your budget and lifestyle. Consider making extra payments whenever possible to expedite debt payoff. Remember, managing student loans is a marathon, not a sprint. Stay disciplined and patient.

TAKE ADVISE WISELY

Image Credits: unsplash.com

According to research, nearly a quarter of Millennials (22%) have turned to family and friends for financial advice. While seeking financial advice from friends and family is natural, be discerning. Advice from unqualified sources could lead to costly mistakes. Listen to advice, but ensure your financial decisions align with your long-term objectives and risk tolerance. Better yet, seek professional advise.

SAVE FOR YOUR HOME

Owning a home is a common goal for Singaporean millennials. Start by setting realistic savings targets and explore government housing schemes like the Central Provident Fund (CPF) Housing Grant or HDB Loan Eligibility (HLE) letter.

Consider alternative housing options like Built-To-Order (BTO) flats or resale flats in non-mature estates to maximize affordability. Boost your home-buying fund by exploring side hustles or investments.

PLAN FOR RETIREMENT

Though retirement may seem distant, it’s never too early to plan. Take advantage of employer-sponsored retirement schemes such as CPF Special Account (SA) or Supplementary Retirement Scheme (SRS).

Consider diversifying investments across asset classes to minimize risk and maximize returns. Automate contributions and regularly review your retirement plan to ensure alignment with your goals.

IN A NUTSHELL

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Navigating personal finance can be challenging, especially for Singaporean millennials. But by adopting proactive strategies like budgeting, loan management, home saving, and retirement planning, financial stability and success are attainable.

With determination and discipline, pave your way to a secure financial future.

Sources: 1, 2, & 3

Don’t Miss Out on These Top Ramen Shops in Singapore

My sister-in-law’s go-to comfort food is ramen, and thankfully, my father-in-law is blessed with golden hands in cooking it. Ramen, a beloved Japanese staple, is renowned for its rich broth, springy noodles, and succulent slices of meat. Fortunately, Singapore boasts an array of ramen establishments, each offering an authentic and satisfying experience. Whether you crave a creamy broth or a broth-less alternative, there’s a bowl to suit every taste.

Here are some of the finest spots to indulge in Japanese noodles, all priced under S$20:

TSUTA

Tsuta proudly holds the title of the world’s first Michelin-starred ramen eatery. Led by Chef Yuki Onishi, Tsuta in Singapore revolutionizes ramen by eschewing MSG and artificial additives in favor of premium, natural ingredients. The result? Savory, innovative flavors bursting with umami.

Indulge in the original truffle shoyu soba (starting from S$13.80), a signature dish featuring chashu, leek, truffle puree infused with truffle oil, and bamboo shoots. For a deluxe experience, opt for the premium char siu truffle shio soba (starting from S$13.80), boasting premium kurobuta loin and Iberico belly.

Image Credits: facebook.com/Tsutasingapore

Locations: Jewel Changi Airport, 313@Somerset, and more.

AFURI RAMEN + DUMPLING

Founded by Hiroto Nakamura in Tokyo in 2003, Afuri has since expanded globally, including its arrival in Singapore in 2019. What sets Afuri apart is its use of yuzu, a citrus fruit, in its signature ramen broth. Topped with ingredients like chicken, kombu, and dried bonito, Afuri’s ramen offers a unique twist.

Sample the signature yuzu shio ramen (S$15.90) or explore the latest addition of asari ramen specials, featuring a lighter broth brewed with clams. Pair your ramen with Afuri’s renowned signature fried chicken (S$6.90).

Location: Funan, B1-29, 107 North Bridge Road

MARUTAMA RAMEN

Marutama Ramen stands out with its chicken-based broth, a departure from the pork-based broths of other establishments. This results in a lighter, more refreshing bowl that won’t weigh you down. It’s no surprise that patrons often request an extra serving of noodles!

Indulge in the classic Marutama ramen (S$14.90) with a seasoned boiled egg, or opt for the char siu marutama ramen (S$18.90) featuring four additional slices of chashu. Spice enthusiasts can savor the Niku miso ramen (S$15.40).

Locations: Clarke Quay, Kallang, and more.

IPPUDO

The first time I tried Ippudo was with my husband and sister-in-law. I was awestruck by the flavor and aroma of the ramen. Conceptualized by Shigemi Kawahara in the ’80s, Ippudo revitalized the Kyushu ramen scene and has now made its mark in Singapore. Experience history with the Shiromaru Motoaji Ramen (starting from S$14.85), featuring a creamy tonkotsu broth and tender pork belly chashu. Alternatively, try the Akamaru Shinaji Ramen (starting from S$15.85), enhanced with a special blended miso paste and fragrant garlic oil.

Image Credits: facebook.com/ippudosg

Locations: Sengkang Grand Mall, UE Square, and more.

SANPOUTEI RAMEN

Originating from Niigata, Sanpoutei Ramen adds to Singapore’s diverse ramen offerings. Their signature shoyu ramen boasts a clear soup broth simmered for six hours, complemented by freshly churned noodles and premium toppings like aburi chashu.

Don’t miss the Niigata shoyu ramen (S$15) or the W soup tonkotsu ramen (S$17), featuring a rich, concentrated broth simmered for 12 hours.

Locations: Holland Village, Shaw House, and more.

TONKOTSU KAZAN RAMEN

Experience the spectacle of “volcano ramen” at Tonkotsu Kazan Ramen, where your meal erupts before your eyes. Served in a pre-heated stone bowl, the dish features a calcium- and collagen-infused soup poured over noodles, creating a flavorful eruption.

Try the kazan curry (from S$16.80), kazan karamiso (from S$16.80), or kazan kaisen-shio (from S$16.80) for a spicy, savory treat.

Locations: Century Square, Funan, and more.

Image Credits: facebook.com/TonkotsuKazan

With these top ramen destinations in Singapore, you’re guaranteed a satisfying culinary journey without breaking the bank!

Sources: 1 & 2

4 afternoon tea specials under $78++ per adult for Mother’s Day 2024

Mother’s Day is a special time to celebrate the wonderful women in our lives!

If you’re looking to treat your mom, allow us to share with you a list of afternoon tea specials, each under $88++ per adult, that promise to make Mother’s Day 2024 memorable as you raise a toast to the lady of the hour.

Lebar @ Sofitel Singapore Sentosa Resort & Spa

Price: from $55++ per person

First up, we have this indulgent afternoon tea experience at Lebar.

Savor a three-tier tower of delectable bites, from savory Blinis with Smoked Salmon Rose and Caviar to sweet Rose Gâteau and Raspberry Cheesecake.

Pair these tempting treats with free-flowing Nespresso coffee or TWG tea.

And as an Accor Plus member, enjoy an exclusive 15% discount—THE excuse you need to make this Mother’s Day a little more affordable.

Have a wonderful time over this culinary journey, crafted by Chef Woody Kong.

Ginger.Lily @ Hilton Singapore Orchard

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Price: from $68++ per person

Or experience a Nikkei-inspired afternoon tea experience at Ginger.Lily.

Savor a harmonious fusion of Japanese and Peruvian flavors in a four-part journey of savory, sweet, thirst-quenching, and take-home delights.

Indulge in edible flowers atop exquisite Japanese sweets, then sip on a glass of bubbly if you’d like.

There are also floral cakes from an exclusive Mother’s Day collection, featuring the Pomegranate Daisy and Apricot Daisy cakes.

Prices start from $68++ per person for the tea experience (or $88++ with a glass of champagne).

The Courtyard @ The Fullerton Hotel Singapore

Price: from $68++ per person

This afternoon tea is fit for royalty, right at The Courtyard.

Enjoy a mouthwatering mango and vanilla-infused spread, featuring bites like smoked salmon with mango, jalapeño, and ikura, and sweets like vanilla financier with mango crémeux and ginger flower.

Alongside freshly baked scones with clotted cream and jam, sip on premium TWG Tea and Bacha Coffee, plus a celebratory Mango Mimosa cocktail.

For an extra special touch, purchase the “Nothing Without Yuzu” cake ($85)—a citrusy, jasmine tea-infused delight.

This is an afternoon tea experience your mom will remember long after the last crumb is savored.

L’Espresso @ Goodwood Park Hotel

Price: from $78++ per adult

What about a Mother’s Day Afternoon Tea Buffet at L’Espresso?

You get to choose from the spread of petite sandwiches, flaky croissants, artisanal cheeses, and hot savories.

Seafood lovers can also eat to their heart’s content at the chilled seafood bar with fresh Snow Crab Leg, Chardonnay Poached Tiger Prawns, Black Mussels, and White Clams.

For dessert, there’s an assortment of sweet confections like Orange Crema Catalana, Assorted Chocolate Pralines, and Lemon Curd Tartlet waiting, plus an irresistible Scone Bar.

Don’t miss the chef’s limited-time specials: Wagyu Beef Slider with Foie Gras & Purple Coleslaw, Cheesy Potato Churros, and Chocolate Lava Cake while you’re there!

Celebrate early with promo prices from 4 to 5 May, starting at $78++ per adult and $46.80++ per child.

These afternoon tea specials under $78++ offer more than just a range of yummy bites and soothing teas; they provide a setting for laughter, conversation, and cherished memories with mom. So, make your reservations early, and get ready to clink cups to the woman who means the world to you this Mother’s Day.

Singapore to trial childminding service for infants as an alternative to infant care centers

Are you a working parent with an infant or having a newborn on the way?

Then this post would be relevant to you.

The government is planning to try out a childminding service to supplement infant care centers.

This pilot program will care for 500 kids between 2 months and 18 months in the first year, and then increase to 700 kids after that.

Childminders, also known as nannies, used to be common in Singapore back in the 70s and 80s.

But now it seems like parents don’t know where to find trusted childminders.

Or perhaps some think that childminding may cost more than other options like infant care centers.

What are the real costs involved?

This new childminding service should cost about $700/month.

That’s similar to what median-income families pay at major infant care centers where fees at those centers are capped at $1,235 per month for Singaporeans.

But if you’re a working mom, you can receive subsidies of at least $600/month.

Private childminding, usually with home-based nannies, costs between $1,200 to $2,800/month.

Unlike centers, the government doesn’t regulate these prices.

The good news for the pilot program is that you can use money from the Child Development Account (CDA) to pay for childminding.

What’s the hiring process like?

The Early Childhood Development Agency (ECDA) will appoint operators, and in turn, these operators will hire the childminders.

Each childminder can care for up to 3 infants at a time and this could be at their own home, or at community centers/clubs nearby where there is high demand.

Image Credits: unsplash.com

All operators must follow set rules to keep the kids safe.

For instance, having guidelines for safety and letting you know about the profile of these childminders.

The childminders will also need to be formally trained to care for infants.

The government will conduct background checks on operators and childminders and work with operators to set industry standards too.

What are the benefits?

Childminding offers flexibility compared to centers with lots of kids.

And FYI, centers usually don’t take in sick kids.

With childminding, parents like yourself can choose what works best for your family’s needs and preferences.

Since not everyone prefers the structured setting of centers, there may be a demand for more flexible hours or individualized child care at home.

The bigger goal is to grow childminding as another affordable and reliable option for parents.

With that said, the government wants to set baseline rules without limiting the types of services provided or reducing how many parents can use childminding.

Currently, there are no formal regulations for childminding or babysitting.

Anyway, more details will come in the 2nd half of 2024 after more discussion with parents, childminders, and operators.

So stay tuned for the next update.

4 weighted blankets under $84 when ‘counting sheep’ don’t work and you need to sleep better at night

When the age-old trick of counting sheep fails to ferry you into ZZZ land, it’s time to turn to a new solution that promises to hug your worries away and lull you into a deep ZZZ.

Weighted blankets, with their gentle, embracing pressure, have been heralded as the sleep aid of the 21st century, offering a remedy for restless nights.

If you’re yearning for better sleep, we’ve rounded up some weighted blankets under $84.

Your cocoon of comfort could be on this list so stay on this page!

ZZZhen Weighted Blanket

Price: $44.92

First up, we will have you drift off into slumber with the ZZZhen Weighted Blanket.

This premium Egyptian cotton cocoon envelops you in soothing pressure to melt away stress and anxiety for the most restful sleep.

The stitching keeps the weighted fill evenly distributed, while the breathable 0.9 cm thickness ensures you stay cool and comfortable all night long.

Whether you’re a restless sleeper or simply crave the comforting hug of a weighted blanket, this product delivers days of pure relaxation backed by a 3-year quality guarantee.

YnM Weighted Blanket

Price: $49.99

Or snuggle up to a more restful night’s sleep with the YnM Weighted Blanket.

Crafted with a 7-layer system that adapts to your body’s curves, this cozy cotton blanket features smaller 4.7×4.7-inch sections for even weight distribution, helping you feel hugged and soothed.

With more glass beads and less fiberfill, it provides temperature regulation to keep you comfortable all night long.

Plus, it’s machine washable for easy care.

Dealing with anxiety or insomnia?

Or just want a more restorative slumber?

The YnM Weighted Blanket is a natural solution for a good night’s rest.

Weighted Idea Cooling Weighted Blanket

Price: $75.17

Pack up and head to dreamland with the Weighted Idea Cooling Weighted Blanket, one that mimics the calming effects of deep pressure stimulation.

This 15-pound blanket uses breathable, OEKO-Tex-certified fabric and recycled glass beads to provide the right balance of weight and cooling.

The upgraded 5+2 layer design prevents bead leakage, ensuring even weight distribution for a good night’s sleep.

With convenient duvet loops, you can easily swap out covers to refresh your newfound treasure.

TOPCEE Weighted Blanket

Price: $81.76

Last but not least, this weighted blanket is made with soft, breathable microfiber and filled with non-toxic, hypoallergenic glass beads.

It provides a gentle, cooling sensation, great for those warm summer nights.

The precise positioning technology ensures the beads are evenly distributed for optimal comfort, so you can unwind without much shifting.

Simply hand wash and hang dry for easy care.

Available in twin and queen sizes to suit your sleep space.

As the sky darkens, your new weighted blanket can offer comfort, inviting the sleep you’ve been dreaming of without the need for counting sheep or tossing and turning. With these affordable options under $84, you’re well-equipped to choose THE sleep companion that aligns with your budget. A restful night is an investment in your well-being so make the right choice!

What are the real costs involved?

What’s the hiring process like?

What are the benefits?

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