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Here’s the main reason why recycling won’t work in Singapore

I’m going to give it to you right from the start:

The convenience of a rubbish chute.

Yes, I think that’s the main reason why recycling won’t work in Singapore.

I’m looking into this issue because I happened to read a commentary on CNA where the writer wrote about how he doesn’t need a free Bloobox to get started on recycling at home.

And it reminded me of my recent conversation with my mum regarding the free Bloobox collection.

If you haven’t heard of the term “Bloobox” yet, don’t feel left out. That’s because I didn’t too…

What’s the Bloobox initiative?

My mum recently received a flyer regarding the collection of a free Bloobox for recycling.

She showed it to me, which sparked my interest in that initiative.

I then saw it on the news on the same day, where it was reported that locals were collecting them from vending machines.

Image Credits: straitstimes.com.sg

But that was that, I didn’t look into it further.

Not until today, after I came across the commentary written. Yup, the one I mentioned earlier.

So I searched “Bloobox” and this was what came up: gowhere.gov.sg/bloobox

Apparently, this initiative is part of the Recycle Right campaign that started on 19 March 2023.

Oh boy, I was totally clueless.

Anyway, if you hold an NRIC or long-term FIN tagged to a residential address, you can collect the Bloobox on behalf of your household from any Bloobox-dispensing vending machine until 30 April.

To search for the nearest vending machine from where your place, simply head to gowhere.gov.sg/bloobox and key in your postal code.

Anyway, this Bloobox functions as a recycling box to encourage households to set up a recycling corner and start recycling at home.

My honest thoughts about the campaign

I don’t think it will work.

Period.

And the main reason is because of the convenience of the rubbish chute we have.

It’s going to take more than a Bloobox to get our lazy bums and hands to start recycling if we can just throw our trash down the chute every day.

Image Credits: tnp.straitstimes.com

I mean, why would any busy Singaporean adopt the recycling habit all of a sudden just because of a free Bloobox?

It’s much easier to just gather food waste and recyclables in one big plastic bag and throw them away, isn’t it?

Don’t get me wrong, recycling is cool but having tried recycling while living abroad, it’s not an easy habit to pick up (unless official rules start kicking in). And if the rubbish chute is there, nothing gets solved.

Drawing from my recycling experience abroad

I’ve had the “privilege” of living abroad and being among locals means I had to adopt their living patterns and law, right?

But coming from a country where we do not need to recycle (by law), the whole recycling thing was a hell of a lesson for me.

But hey, everyone’s got to start somewhere, and with practice, I got better.

Anyway, the main point of bringing this up is because where I lived, there was NO rubbish chute.

So then your question might be:

“So, how to throw trash ah?”

Well, that’s where the whole recycling thing comes into the picture.

For explanation’s sake, there are 3 broad categories:

Food waste
General trash
Recyclables

I won’t get into much detail on food waste and general trash but to give you a rough idea, I had to pay to get rid of them. Yes, that was how it worked.

As for recyclables, the place where I lived (each region has slightly different rules on recycling) did not specify the type of plastic bags to use so I bought big white plastic bags from Daiso to contain my recyclables before throwing them out in bulk.

Here comes the best part…

I like how 99% of the products in Korea have labels on them so you know exactly how to sort them.

It looks like this:

Image Credits: sokoglam.com

After a while, you somehow get the hang of things but as a recycling newbie adopting this whole recycling routine, the labeling was a lifesaver.

In Singapore, we don’t have that. At least, that’s what I’ve realized.

But we do have a “recycling search engine” to help you determine what can be recycled and not: cgs.gov.sg/recycleright/check-my-item

But a tad troublesome, hor?

I think Singapore has a long way to go when it comes to educating the public on recycling.

It takes just one culprit who doesn’t know the rules of recycling to contaminate the entire blue recycling bin.

I’m saying this because just last week, I spotted a man throwing his cai fan styrofoam box into the blue bin near my neighborhood.

So, there you go. Gone.

Poor blue bin and its clean recyclables inside.

In closing, I think it’s going to be a long fight with our current recycling efforts. We cannot afford to take our own sweet time because the Semakau Landfill is expected to be full by 2035. If Singapore can step up its recycling game and be much more aggressive with its campaigns, we can certainly slow down the speed of landfills being filled and contribute to a much greener world. So what say you? Are you still planning to use your newly collected Bloobox as a storage box? Or are you putting it to good recycling use?

Investing in Cryptocurrency: Risks & Rewards

Cryptocurrency has taken the world by storm, and Singapore is no exception. Although the worldwide cryptocurrency ownership rates were around 4.2% in 2022, Singapore and Thailand are leading the way in Southeast Asia with significantly higher adoption rates of 11.05% and 6.47%, respectively. These numbers are mainly attributed to the digital savviness of their populations and the supportive regulatory environment in both countries. While investing in cryptocurrencies can be attractive and lucrative, it is also not without risks.

Firstly, let’s discuss the rewards. Cryptocurrency is decentralized, meaning it is not controlled by any government or financial institution. This makes it a popular investment option for those looking to diversify their portfolio and reduce their reliance on traditional banking systems. Cryptocurrencies can also provide quick and easy access to liquidity, making it an attractive option for those looking to make quick profits. For example, digital artists can easily sell their artwork using cryptocurrencies and still own its copyrights.

Furthermore, the Monetary Authority of Singapore (MAS) has issued guidelines for the trading and exchange of cryptocurrencies, making it easier for investors to enter the market. To address money laundering and illegal activities, MAS issued Notice PSN02, also known as the detailed Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) guidelines for Digital Payment Token service providers.

However, investing in cryptocurrency also comes with its own set of risks. One of the biggest risks is volatility. Despite Singapore’s ambitions to become a global crypto hub, it has been cracking down on the industry after many retail investors lost their life savings to crypto trading. The country has repeatedly warned that cryptocurrency trading is “highly risky and not suitable for the general public” due to its volatile and speculative nature.

The general public must know that cryptocurrencies are subject to unpredictable price fluctuations. As they are less regulated, their value is influenced by other factors, such as psychological hype. For example, in 2017, Bitcoin’s price reached an all-time high of nearly $20,000, only to crash to $3,000 the following year. Another example is the rise of the first meme coin called Dogecoin.

Image Credits: unsplash.com

Another risk is security. Cryptocurrencies are stored in digital wallets, which can be vulnerable to hacking and cyber-attacks. If a hacker gains access to an investor’s wallet, they can steal their digital assets, resulting in significant losses. Can you imagine betting your life savings on cryptocurrencies and losing it all in a day?

Lastly, to thrive in the cryptocurrency scene, a certain level of technical knowledge is required. Don’t fall victim to frauds and scams by lacking technical knowledge. Investors need to understand how the blockchain works, how to manage digital wallets, and how to navigate cryptocurrency exchanges.

Despite the risks, the interest in cryptocurrency investment remains high among investors in Singapore. To minimize these risks, it is essential for investors to conduct comprehensive research before investing, keep their digital assets in secure wallets, and only invest a reasonable amount they can afford to lose. With prudence and caution, investing in cryptocurrency can be a fulfilling experience for Singaporean investors.

Sources: 1, 2, 3 & 4

Unlock the Mysteries of Mortgage Rates

Mortgage rates are an important factor to consider when buying a home. They can have a significant impact on how much money you will pay in interest and the size of your monthly payments. With mortgage rates constantly changing, it’s important to understand what affects them and how they may change in the future. In this introduction, we’ll take a look at what factors influence mortgage rates and how they may affect your decision-making process when purchasing a bank home in Singapore.

Factors Affecting Mortgage Rates

a. Inflation
b. Federal Funds Rate
c. Economic Activity and Unemployment Rate
d. Bond Market Activity
e. Credit Availability and Demand for Loans

Mortgage rates are a key factor to consider when deciding whether or not to purchase a home. Although there are many factors that can affect mortgage rates, five main ones tend to have the greatest influence. These include inflation, federal funds rate, economic activity and unemployment rate, bond market activity and credit availability and demand for loans.

Inflation has an important role in determining mortgage rates because it affects the overall cost of living. As prices increase due to inflation, lenders will generally raise their mortgage rates as well in order to offset the extra costs associated with providing loans in an environment of higher prices.

The federal funds rate is another major factor that can affect mortgage rates. This is set by the Federal Reserve Board and it influences how much banks charge borrowers for loans as well as other lending activities such as issuing mortgages. Generally speaking, when this rate goes up so do interest rates on mortgages (and other types of loans).

Economic activity and unemployment rate also play a role in setting mortgage rates since lenders use these figures to assess potential risks associated with providing home finance products such as mortgages.

Types of Mortgage Rates

a. Fixed-Rate Mortgages
b. Adjustable-Rate Mortgages (ARMs)

Mortgages are a major financial commitment, and with so many different types of mortgages available, it can be difficult to decide which one is right for you. Two of the most common types of mortgages are fixed-rate and adjustable-rate (ARM) mortgages. Understanding the differences between these two mortgage types can help you make an informed decision that best fits your financial goals.

Fixed-Rate Mortgages

A fixed-rate mortgage is a loan with an interest rate that remains the same throughout the life of the loan, no matter how long or short that may be. With this type of mortgage, borrowers know exactly what their monthly payments will be for as long as they carry the loan. This predictability makes it easier to plan and budget for homeownership expenses in addition to other monthly expenses like utilities and groceries. Fixed-rate mortgages often come in 15-, 20-, 25-, or 30-year terms; however, some lenders may offer longer terms as well.

Adjustable-Rate Mortgages (ARMs)

An adjustable-rate mortgage is a loan with an interest rate that changes over time based on certain predetermined criteria such as market conditions or index rates like Treasury Securities or LIBOR indexes. Depending on the lender

Benefits of Lower Mortgage Rates

As homebuyers prepare to enter the real estate market, one factor that is often top of mind is the mortgage rate. Lower mortgage rates can be an attractive incentive for those looking to purchase a home, as they can help make the process more affordable and accessible. In this article, we’ll explore some of the benefits of lower mortgage rates and how they can be beneficial to potential homeowners.

One of the most obvious advantages of lower mortgage rates is that it makes buying a home more affordable. Homebuyers who take advantage of these reduced rates are able to borrow money at a cheaper cost over time, which helps them save on interest payments and allows them to pay off their loan faster. With lower monthly payments, it also becomes easier for potential homeowners to make their dream of owning a house come true without having to stretch their budget too thin or put themselves in financial jeopardy.

Lower mortgage rates also open up possibilities for refinancing existing loans or taking out additional loans against existing property equity. Homeowners who have taken out larger mortgages may find that refinancing at today’s low rates could significantly reduce their overall debt load and monthly payment amount – helping them get back on track with paying off their loan sooner than expected.

Conclusion

Mortgage rates are a key factor to consider when purchasing or refinancing a home. Rates can change drastically in a short amount of time, so it is important to stay informed about current conditions and shop around for the best rate you can find. With careful research and diligence, you can find the right mortgage rate that fits your budget and long-term goals.

How to Cut Your Expenses in Half and Still Live a Comfortable Lifestyle

As you strive to keep up with the vibrancy and dynamism of the Singapore workplace to sustain your daily needs, being intentional with your budget is crucial. Cutting your expenses in half while maintaining a comfortable lifestyle is achievable. Here are some hacks to help you save money and reduce your expenses.

#1: PREPARE HOMEMADE MEALS

At the onset of the pandemic, I started learning how to cook. Eating out can be costly, and making my meals at home helped me to be conscious of my spending and what I put in my body.

You can create a weekly meal plan using the ingredients you already have and make a shopping list of any missing items. Shopping online can also help you reduce costs through store vouchers and occasional sales. Opting to include more veggies in your meals can also lower your food costs.

#2: SHOP SMART

When shopping for groceries and other essentials, keep an eye out for deals and promotions to save money. You can also consider buying toiletries in bulk to reduce costs.

Additionally, you can explore shopping at local markets instead of big chain supermarkets. Local wet/dry markets offer a greater variety of options and provide an opportunity to haggle for the best prices. Gain freedom of choice while sticking to your budget!

#3: APPRECIATE DIFFERENT ART FORMS

Singapore offers a wealth of free or low-cost entertainment options, such as museums, festivals, and parks. Take advantage of these options instead of costly activities like shopping or hotel hopping.

Furthermore, review your monthly expenses to see if there are areas where you can cut back. For example, you could cancel your cable TV subscription and retain your Netflix subscription only.

#4: COMMUTE WITHOUT CARS

With a reliable public transport system that continues to expand, you can easily ride buses and trains on a regular basis. Consider using public transportation instead of owning a car, which can be subject to high taxes and fees.

Image Credits: unsplash.com

Not to mention, you would also have to maintain the vehicle’s condition and regularly purchase petrol.

#5: EAT THE LEFTOVERS

Don’t let your dinner leftovers meet a moldy end in the back of your fridge. Forgetting about them wastes both money and food. Instead, consider enjoying them for lunch the next day or incorporating them into a new dish, like egg fried rice. With a bit of creativity, you can spruce up your egg fried rice by adding leftover rice and other ingredients to make Uncle Roger proud!

#6: SWITCH TO REUSABLE ITEMS

Make a positive impact on your wallet and the environment by ditching disposable items like paper towels, sandwich bags, and single-use water bottles. Instead, opt for reusable alternatives.

For example, a pack of paper towels can cost around S$4.50 at FairPrice, while a hand towel from the same store is only about S$2.90. By switching to a reusable hand towel, you’ll save S$1.60 right off the bat and get many more uses out of it. Plus, using the hand towels you already have tucked away instead of grabbing a new paper towel sheet every time you make a mess means fewer trips to the store and less waste in the trash bin. It’s a minor change that will benefit you in the long run.

#7: STEER AWAY FROM COSTLY HOUSING

One of the biggest expenses for most people in Singapore is housing. To reduce your housing costs, consider living in a less expensive area or finding roommates to share the rent with. Downsizing to a smaller flat or house can also be a viable option.

Yes, you need shelter, and you want to live in a lovely place with amenities. While these factors are important, you don’t want to spend so much on your housing that you can’t achieve your financial goals.

#8: AVOID USING CREDIT CARDS

For everyday expenses, avoid using credit cards. Remember that interest rates can be high. Instead, consider using cash or debit cards to keep track of your spending and avoid accumulating debt. By being mindful of your spending habits, you can achieve your financial goals and avoid the burden of credit card debt.

#9: CREATE YOUR OWN THINGS

Don’t spend money on things that you can make yourself. Search for DIY tutorials on YouTube, Pinterest, and social media platforms to create your own soaps, household cleaners, ant killer, rugs, and face scrubs. The possibilities for home DIY projects are endless!

#10: OPT FOR CHEAPER ALTERNATIVES

Cheaper alternatives for products and services are readily available but finding them requires some research. For instance, you can save money on handphone plans or other service subscriptions by choosing more affordable plans or cancelling unnecessary subscriptions.

When it comes to cleaning supplies, medications, and groceries, opting for store or generic brands can help you reduce your expenses while still getting quality products. You can also choose to splurge on a few select items to treat yourself.

Image Credits: unsplash.com

With a dash of foresight and smart decision-making, you can enjoy the Lion City’s luxuries while staying within your financial means.

Sources: 1 & 2

Webull Super Amazing Promotion- Deposit just $0.01 (1 cent) and receive US$500

Another low-cost online broker is taking the Singapore brokerage trading market by its horns! Webull is a broker dealer registered with the SEC and headquartered in New York. To entice users to try out is zero-fee brokerage services, Webull is offering up to US$500 worth of blue-chip shares as long as a new user funds his/her account. The definition of funding means new user can top up as little as just 1 Singapore cent to get up to US$500 in this super amazing promotion!

Webull’s Amaaaazing Promotion

Here is a step-by-step guide on how to receive free US$500 worth of shares from Webull.

Step 1: Download the Webull mobile app from the Apple/Google Play store or access its desktop version

Step 2: Sign up using this referral link

Step 3: Register and open an account. You can key in your personal details or allow Singpass MyInfo to populate them.

Step 4: Once you have completed your account opening, simply wait for the approval from Webull. It usually takes just 1 business day.

Step 5: Simply fund your account upon account opening via FAST or DDA. Any deposit is fine, even $0.01! Upon successful funding, go to dashboard to redeem your well-deserved rewards.

Simply click “My Rewards” icon to redeem your fractional shares! You will receive 3 blue-chip, fractional shares comprising of either Alphabet, Microsoft, Apple or Tesla. Each of these shares will be worth a minimum of US$10 to a maximum of US$100.

But wait, that’s not all yet.

If your account continues to stay funded for another 30 days, you will receive 2 bonus chances to redeem 2 more free shares. It will stay funded as long as your initial deposit of 1 cent has not been withdrawn. Thereafter, sell the 5 free shares and cash out. That is how you walk away with up to US$500 after just 30 days of doing almost nothing!

Even without the sign-up promotions, Webull is amazing for its ZERO platform fees and commission charges on US Stocks. This is the lowest cost that you can possibly find in the Singapore brokerage scene right now.

It is evident that the “effort-reward” ratio is remarkably high and that is why you should not pass up on this amazing promotion from Webull!

https://www.webull.com.sg/i/newuser

What’s the Bloobox initiative?

My honest thoughts about the campaign

Drawing from my recycling experience abroad

Webull’s Amaaaazing Promotion

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