Important Benefits Of Life Insurance

Say you are a breadwinner to a family of three. You are happy to sustain the needs of your family. Suddenly, you caught the coronavirus bug. What will you do? You can no longer go to work! You cannot fulfill your work from home duties either.

Fortunately for you, you decided to purchase a life insurance policy prior to this event. Your critical illness is covered. Apart from that, how can life insurance help you in the future?

Firstly, there are two types of insurance such as whole life and term insurance. The latter is cheaper than the former. I will get to that later. Nonetheless, life insurance serves as your protection for unforeseen events, your shield for medical emergencies, and your extend relief after retirement.

The difference between whole life and term insurance is the amount of money you will have to put inside and the amount of money you will get back. Both policies provide protection in the event of total permanent disability and death.

Term insurance, true to its name, provides you with protection only for a fixed period of time (such as 20 to 30 years). The plan expires after the given term. If nothing happens to you and you do not make the claim, you get nothing. On the other and, whole life insurance covers you until you die. This is as long as you pay your premiums.

PROTECTION FOR UNFORESEEN EVENTS

Ensure that you will be able to support the needs of your surviving family with life insurance. When the income earner dies, there is a significant impact for the surviving family. There are possibilities when a survivor can provide for the rest of the family’s needs as well, but it is better to be prepared.

Keep the impact of death to minimum and provide your surviving family members with a source of income by arranging your life insurance plan.

SHIELD FOR MEDICAL EMERGENCIES

Whether you are single or married, having an emergency fund is vital to your life. You will never know when bad events such as this pandemic will occur.

Getting life insurance and having emergency funds are the best way to be ready for any emergencies. It will not only assure you but it will also prevent you from having an empty pocket when you drown in an unfortunate situation.

Some people might say that getting life insurance is like getting ready for your funeral. However, you may look at it as a means to prepare yourself for survival.

RELIEF FOR RETIREMENT

Using the cash value of your life insurance policy allows you to have an additional financial support once you retire.

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You may also use this money to indulge yourself, after you retire. Just ensure that you work within your means.

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5 Must-Watch Shows And Films On Netflix

Who says the Circuit Breaker period has to be boring? Indulge yourself with entertainment, a glass of wine, and a pint of ice cream. From funny food shows to heartbreaking stories of marriage, here are some of the shows and films that you can binge on while in quarantine.

MARRIAGE STORY (2019)

Let us start this list with a lasting mark through the “Marriage Story“. This movie did not collect a 95% Rotten Tomatoes for nothing! Love is not always rainbows and butterflies. In fact, this story is about divorce. It starts with a couple describing the reasons why they fell in love with each other, but it quickly shatters the viewers’ illusions as they highlight why they are incompatible. The messy process revolved playwright Charlie Barber (Adam Driver) and his actress wife Nicole (Scarlett Johansson).

Nicole wanted to pursue her dreams in Los Angeles, where a new job awaits. However, Charlie was not on board. The tension finally breaks them and they lawyer up. Watch they re-build whatever is left.

IT’S COMPLICATED (2009)

Meryl Streep’s character in this movie was torn between two lovers. It centers the story of a successful bakery owner whose life is vibrant due to her ex-husband and her home architect. This romantic-comedy is filled with beautiful home layouts, lush backyard vegetables, and delicious pastries.

This art is the perfect encapsulation of the Danish word “Hygge“, the mood of comfort and wellness, in film.

BILLIONS (2016)

Ever wondered what it is like to fly your best-friend in an all expenses paid concert whenever you can? Well, that is what the main character of this show has done. Modern Billionare Axe was constantly pursued by U.S. Attorney Chuck Rhoades due to illegal trading. This drama TV series is all about gaining power!

Episodes are drenched in boss moves that can inspire you to work harder. For instance, Axe once ate a pizza with caviar toppings and Chuck drank the fanciest single-malt scotch at his home. Imagine the life of the rich and famous.

CRAZY, STUPID, LOVE (2011)

Crazy, Stupid, Love tops the list of my personal feel-good movies. Makeover scenes are prevalent in Hollywood, but only few are dedicated to men. If you have not seen this movie before, you have to prepare your eyes with the great fashion sense these main male characters have.

It follows the life of a middle-aged dad who was recently divorced. Cal attempts to dive back to the dating scene with the help of an elegant playboy named Jacob. Besides, it is a blessing to see the dashing Ryan Gosling on screen!

THE CHEF SHOW (2019)

This cooking show is a spin-off of Jon Favreau’s movie Chef in 2014. You may know him as “Happy Hogan” from Iron man and the Marvel universe. Jon along with renowned Chef Roy Choi go from state to state to experiment with different people. These people share their passion for food and cooking.

What’s more? This cooking show does not go by the book. There are no measurements whenever they cook. In fact, they both make fun of themselves whenever they make mistakes. They typically cook comfort food such as grilled cheese, lava cake, aglio e olio pasta, and fried rice. Delicious!

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Digital Resources That Can Help Your Sanity

The safest thing that you can do for yourself is to stay at home. However, staying at home can take a toll on your Mental Health. It is difficult to live in a world where you cannot meet your loved ones whenever you want or where you cannot accomplish your usual outdoor activities. At some point, the news can either bore or stress you out too.

Fortunately for you, there is a wealth of digital resources that can help you stay sane. Download one or all of these apps!

#1: ZOOM

It is important to stay connected despite practicing safe distancing. One mobile and computer app that can help you connect to your loved ones and to your co-workers is Zoom. Zoom meetings are all the rage these days! This is possibly due to the useful functions of Zoom such as screen sharing and virtual backgrounds. Apart from that, many people are conducting free webinars that focus on their skills or on Mental Health awareness.

Consider opening a delicious bottle of wine while you host a virtual party with your friends. It is happy hour somewhere, right? Moreover, you may connect with your significant other as you cook and eat a meal together.

#2: DUOLINGO

Duolingo is a popular app that gamifies language learning. It offers bite-sized listening and speaking lessons among over 30 languages. If you have been itching to learn Spanish to watch Money Heist more efficiently, then you may give this app a go. Interestingly, it includes more obscure languages such as Latin and High Valyrian too. GOT fans will know what I am talking about!

#3: HEADSPACE

If you are looking for a vibrant and positive app that can help you kick-start your meditation journey, search no further than “Headspace”. Headspace includes hundreds of short meditation recordings and lengthy guided sessions. Choose your own preference as these range from physical health to personal growth as well as from stress management to stress relief.

Be honest with yourself when it comes to what you really need at the moment. If you are downloading this app for free, you will be able to access limited free sessions. Otherwise, you may upgrade your subscription to get a full access to their meditation library.

#4: APPLE PODCAST

Apple Podcast and Spotify house a variety of Mental Health and self-care podcasts that can help alleviate the emotional stress that you are feeling at the present moment. A podcast available on Apple Podcast called “Mental Illness Happy Hour” tackles difficult mental illnesses such as PTSD and addiction through interviewing notable figures and celebrities.

Another podcast that you may listen to is the “Miss Psychobabble” podcast. This peeks inside the current issues and popular culture through the lens of Psychology. From finding productivity while working at home to gaining control in times of uncertainty, this podcast educates you about human behavior and solves it through practical tips.

#5: STOIC.MENTAL HEALTH TRAINING

The ancient philosophy of Stoicism dates back in circa 300 B.C.E. Stoics endure pain and suffering without complaints and rants. If meditation is your thing, you can probably enjoy the company of the “stoic.mental health training” app. This app provides personalized insights on what influences your sense of fulfillment and levels of mood. It also gives calming exercises in the morning and evening. What’s more? It has a philosophy-driven journal that will enable you to understand why you are feeling a certain way. It is okay to not be okay, all the time.

#6: ADIDAS TRAINING

Exercise and physical activity helps you to release some “happy hormones” or endorphins. Keep the consistency in your routine by downloading the free ADIDAS TRAINING app. This app lets you complete a workout for at least 7 minutes. It comes in a series of easy to difficult pre-made workouts.

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If you have a particular goal in mind such as weight loss, you may create your own training plan too. Comparing your progress with friends who use the app is also possible. This will enable you to monitor your group workout plans and goals.

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How To Save Money In Your 20s

You are in your twenties! You may be thinking that you have the rest of your life ahead of you. Well, you are right. Whether you just graduated from university or are on your way to finish your final term, you can start sending out your Curriculum Vitae.

Finally! You landed your first full-time job, before the Circuit Breaker period started. During your first two weeks, you learned the rules of the trade. You were able to find your rhythm and your work tribe along the way. Then, you received your first paycheck.

You hold your hard-earned money in your hands. Suddenly, you felt like a kid in a candy store. You want to buy whatever you see with this newfound wealth. Are you going to blow off your paycheck in one day? Or, are you going to save it for the rainy days?

It is good to treat yourself every once in a while, but it is better to set aside some money for future expenses. You do not know what the future holds! With our crumbling economy, many establishments such as Robinsons department store have taken the hit. Robinsons stated that they will close some of its branches. Do not let yourself fall into the trap of bankruptcy.

You can do more in your 20s. Start with these tips:

ELIMINATE THE TEMPTATIONS

Food establishments have been gaining more limelight these days. Delivery services such as GrabFood and food panda had been earning a significant amount of money as many Singaporeans are stuck in their own homes.

To get a taste of the outside world, establishments lure potential clients thru social media. A box of donuts sounds as tempting as a buy-one-take-one milk tea. However, you must limit your spending and sugar intake. Eliminate temptations by reducing your time spent on social media such as Facebook and Instagram. These are filled with display ads. YouTube is not safe either!

CREATE A BUDGET

Budgeting is a system that keeps track of your cash-flow and enables you to stay within your financial capacities. Categorize your expenses based on your priorities.

Set aside a portion of amount on fixed expenses first. These fixed expenses include utility bills, rental costs, and transportation costs. Your variable or non-essential expenses shall follow suit.

INVEST A LITTLE

Investing can be intimidating, especially when you have zero knowledge about it! Money Digest has a wealth of articles related to investments. Start reading these articles.

Nonetheless, consider investing small amounts of money and letting a professional handle your portfolio. I am referring to Mutual Funds. Seek help by using the right tools. You can even invest as little as S$100!

Related: Cheap Investment Opportunities In Singapore

Cheap Investment Opportunities In Singapore

KEEP THINGS IN THE CART

What do you say to online shopping promotions? Not today, sir! It is easy to be trapped in the attractive promotions found online. Do you really need another phone casing or a night stand?

Billionaire music mogul Jay-z was once quoted saying: “You cannot afford something unless you can buy it twice”. Can you really afford two sets of AirPods? If so, is that necessary? You may want to wait a day or two, before you decide to purchase something from the shopping cart.

ACT WITH THE FUTURE IN MIND

Since you are making a decent amount of money these days, set some financial goals for yourself. If you want to travel next year as most of the international travel restrictions will be lifted, then you may start saving now. If you want to live on your own by the end of the year, then you may start saving now.

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Always act with the future in mind. You hold the key!

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Stop Buying These “Essentials”!

I have to be honest! Since the Circuit Breaker (CB) period started, I have been purchasing essentials (such as sanitary napkin and coffee) and non-essentials (such as make-up and jade roller) online. Online shopping prevents me from being exposed to the possible dangers of the coronavirus. However, I felt that its convenience can trap me.

I had to become more aware of my spending patterns. I gave myself a maximum limit of twice a month to purchase my needs and wants online. This way, I will be able to track my parcels and spending more efficiently.

Two nights ago, Lazada had a Flash Sale on Apple Airpods. I had been eyeing this product for a long time and have been waiting for the perfect occasion to splurge on it. Despite its 20% drop, I decided to seek the advice of my partner. His opinion is of utmost importance to me. Thankfully, his voice of reason prevented me from purchasing the device that I will likely get tired of after several months. He helped me save S$200 that night.

There are many ways to save money. You can reduce your online shopping tendencies, expand your businesses, or invest in stocks. Every little bit counts when you are trying to save money during the CB period. If you have not realized it yet, here are some “essential” things that you should stop buying.

#1: AIR FRESHENER PLUG-INS

Ahhh air fresheners! Air freshener plug-ins have been all the rage in the 1990s. Those pine-shaped air fresheners may be doing more harm than good. According to the environmental testing company called IndoorDoctor, many air fresheners contain a type of chemical known as phthalates as well as formaldehyde. Phthalates are known to interfere with the body’s production of testosterone and have been associated to reproductive abnormalities, says the nonprofit National Resources Defense Council.

For Singaporeans who have pets, the use of air fresheners may feel essential. You need to find an alternative to keep your household fresh. Try creating scented candles by using natural essential oils. Start with this tutorial.

#2: BOTTLED WATER

Singapore’s tap water is generally safe for drinking. On some instances, you may encounter a poor-tasting water due to the chlorination or discolored water. Chlorination is necessary to keep the water safe from pathogens (i.e., bacteria and viruses).

Not only does plastic bottled water add up to the plastic waste, but it also adds up to your costs. Save more by refilling your tumbler or jug from the tap. Ensure that you bring this tumbler or jug while you are out of the house too.

#3: PLASTIC UTENSILS

Yes! Disposable utensils enable you to lessen the time spent on dish washing. However, this cheap and convenient item may add pollution to our environment. Help the future generation by reducing the plastic waste.

Use metal utensils and straws wherever you go. There is a metal utensils and straws set in Lazada, which will cost you about S$7.99.

#4: DISCOUNTED ITEMS

Just because an item is on sale does not mean that you really need it. I know how attractive a Flash Sale can be. In fact, I saved a lot of money from buying my Christmas gifts through Flash Sales. However, problem may start when you purchase several on-sale items without planning to do so.

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If you do not need and want the item, skip it. Are you willing to pay for it in full price? If so, then it highlights your essential need for it. Keep these in mind!

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