Hey Globetrotter! How Much Is Your Money Worth Around The World?

Has your strong desire to travel been itching you these past several weeks? Is your schedule free enough for you to travel at least 3 days away? If all your answers point to “YES” then, it is time to give in to your wanderlust!

As you let your heart decide which country you shall go next, it is paramount to understand the value of your money and the cost of living dynamics. These said information would help you build the travel fund that is suited best for your trip. Furthermore, you can carry a little more pocket cash in case an emergency rises.

Looking into the globe through a microscope, a few of the countries you may visit are Australia (Continent: Australia), Italy (Europe), China (Asia), South Africa (Africa), Canada (North America), and Peru (South America). Hooked to the globetrotter idea already?

Then, browse through the things that you can buy with S$2.50, S$52.50, and S$1,500…

S$2.50

In Australia, or Commonwealth of Australia, you can buy 1 liter of milk for S$1.53 or a 1.5-liter of water for S$2.48.

Are you a salad enthusiast? Try the lettuce (1 head) from Italy for S$1.35. The 1.5-liter of water there costs S$0.76 only!

If you love imported beer, get a 0.33 liter bottle for S$1.59 in China. Otherwise, conquer your thirst with the very affordable S$0.65 1.5 liter of water.

Image Credits: takuki via Flickr

Image Credits: takuki via Flickr

In South Africa, you can purchase 500 grams of white bread loaf for S$1.31. And, their 1.5-liter of water retails for S$1.47.

Going up to Canada, you may purchase a kilo of tomato for S$1.90 that is otherwise S$2.66 in Singapore. The 1.5-liter of water? It costs about S$2.43.

Lastly, Peru offers friendly priced domestic beers (0.5 liter bottle) for S$1.84 while their 1.5-liter of water is priced at S$1.16.

S$52.50

You can ride a cab (normal tariff) with an hour of waiting for S$51.31 in Brisbane, Australia.

And, if you are a sucker for cheese, get 2 kilos for S$46.14 in Milan, Italy.

There is nothing but pure regard for your money at Zhuhai, China where a three-course meal at a restaurant can cost about S$43.38 for 4 people!

However, in Johannesburg, South Africa it is a tad pricier as the three-course meal at a restaurant can cost about S$48.74 for 2 people.

In Cold Lake, Canada, chain store (e.g., Zara) dresses are priced cheaper at S$43.78 whereas it retails for S$63.60 in Singapore. That is saving you S$19.82!

In the capital of Peru called Lima, you can enjoy 3 hours of playing tennis on a weekend (S$35.94) plus catching a flick on its international release (2 seats for S$15.76). Talk about an ideal date!

S$1,500

With this larger amount, you can rent an apartment for a month (inclusive of Internet services) at all these countries discussed. For instance, in Australia, you can rent a 1-bedroom apartment on the outskirts for S$1,187.62.

While in the world’s eight largest economy, an Italian 1 bedroom apartment outside the city costs S$1,034.54.

Image Credits: Julia via Flickr

Image Credits: Julia via Flickr

For an incredibly cheaper price, visit China where you can rent a 3-bedroom apartment at the city for S$1,030.15.

Or go to South Africa where a 3-bedroom apartment at the city is about S$1,409.27.

And, if you have a month long business trip in Canada, consider renting the 1 bedroom apartment in the city for S$1,340.63.

Finally, Peru’s 3-bedroom apartment at the city will cost you approximately S$1,107.23.

Image Credits: blog.absolutvision.com

Image Credits: blog.absolutvision.com

Oh! By the way…all these data were collected from Numbeo. It is a website that stores the world’s largest database of user contributed information about global living conditions. It has been mentioned in internationally renowned newspapers and magazines such as BBC, Forbes, The Economist, and New York Times among others. See for yourself! 🙂

 

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Is Property A Viable Investment Tool?

A place where you can securely reside with your loving family – that is what you call a home.

Since land is scarce in Singapore, properties had always been a go-to investment tool for many. The majority of these investors have strategies limited to purchasing, reselling, and renting flats or condominiums. But, in order for higher returns to generate, one must consider investing to a range of other properties such as using the Real Estate Investment Trust (REIT).

And for a beginner with merely S$10,000 on hand, is property a viable and smart investment tool?

PROS

1. GETTING MORE LEVERAGE

With the banks help, you can have the ability to leverage your capital, make a down payment, and increase your overall return. Simply, more leverage enables you to pay less money upfront (e.g., 30% down payment and 70% from the bank) while making more money in the process.

2. CAN BE A SHIELD AGAINST INFLATION

Inflation occurs when there is a spike in prices and fall in the purchasing value of the dollar. As the miscellaneous for the property increases, the rent, and its value also increases. This is why property investing can be a good shield against inflation.

Image Credits: .Martin. via Flickr

Image Credits: .Martin. via Flickr

CONS

1. CAN BE TIME CONSUMING

Finding a property in a decent location, building a good relationship with the tenants, and maintaining the condition of the property can be time consuming. Time that may not be in the good side of most.

2. THE RISKS ARE HIGH

A two-bedroom HDB flat can cost about S$250,000. That is a huge sum of money you may be willing to risk if you are serious in property investing. The risks only increase when the investor does not understand how the property market works or when and where to invest. Hurrying up without analyzing the situation thoroughly can only bring about more damage (e.g., bankruptcy) than good.

ULTIMATELY

You can lower the risk of property investing by diligently researching and analyzing reports, tests, and the current situation. Furthermore, investing in below market value properties backed up with insurance can help manage the risk. You would not know all these things unless you are well informed!

A buyer with an in-depth financial knowledge is important to the success of a property investment. So, if you lack sufficient knowledge, seek advice from a financial consultant or other professional advisers. And, when you find the “right property”, ensure that you keep your expectations realistic and keep your finances in tact.

Sources: 1, 2, & 3

Image Credits: Mark Moz via Flickr

Image Credits: Mark Moz via Flickr

 DISCLAIMER: THIS ARTICLE DOES NOT FORM PART OF ANY OFFER OR RECOMMENDATION, OR HAVE ANY REGARD TO THE INVESTMENT OBJECTIVES, FINANCIAL SITUATION, OR NEEDS OF ANY SPECIFIC PERSON. BEFORE COMMITTING TO AN INVESTMENT, PLEASE SEEK ADVICE FROM A FINANCIAL CONSULTANT OR OTHER PROFESSIONAL ADVISER.

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6 Highest Paying Jobs In The Field Of Technology (IT)

With the increasing global concern for cyber security across companies, there has been an ongoing demand for Information Technology (IT) Professionals. In fact, recent study showed that the five highest income-earning sectors in Singapore include Information Technology alongside Banking and Finance, Petrochemicals, Pharmaceuticals, and Semiconductors.

Salary.sg, a website dedicated to relay information on career and jobs, used the Ministry of Manpower wage date and excluded the bonuses and profit-sharing to generate the monthly gross wages of over a hundred jobs in Singapore. Looking at the IT sector through a microscope, here are the 6 Highest Paying Tech Jobs In Singapore based on the 2014 data by Salary.sg:

6. NETWORK AND SYSTEMS ENGINEER

Network and Systems Engineers can earn about S$4,000-7,000 a month.

They are tasked to oversee functionality, security, and design of the computer systems. To keep the internal and external company databases running smooth, they are responsible to look to how information is shared both internally an externally.

5. APPLICATION DEVELOPMENT CONSULTANT

Application Development Consultants can make about S$5,000-7,000 a month.

They are tasked to consult with the program managers, senior consultants, and clients to understand information requirements, operational procedures, and transaction processing. Basically, they are responsible for designing fresh software applications from the concept to completion.

4. INFORMATION TECHNOLOGY TESTING IT

Testers can earn about S$6,360 a month.

IT Testers are tasked to check for system bugs or other concerns in the new software to ensure that the company standards are maintained or that the product integrity is preserved. They examine a program by going through its typical uses and noting down the observable problems.

Image Credits: Bob Mical via Flickr

Image Credits: Bob Mical via Flickr

3. INFORMATION TECHNOLOGY SECURITY SPECIALIST

IT Security Specialist can make about S$6,385 a month.

IT Security Specialists are tasked to analyze the security breaches that have or may occur. Then, they must repair and strengthen the system against these breaches. Simply put, their work focuses on the risks to the security of valued company information or data.

2. INFORMATION TECHNOLOGY PROJECT MANAGER

IT Project Manager can have a paycheck of about S$8,320 per month.

A bachelor’s degree and significant years of experience is usually required for this position. IT Project Managers are tasked to manage and coordinate with the staff to oversee various computer-related assignments for the company.

1. CHIEF TECHNOLOGY OFFICER

Chief Technology Officer (CTO) can earn about S$10,648 per month, on average.

CTOs are tasked to play an important role in setting the company’s direction, development, and future growth by supporting all information and technology-related operations. With your growing years of experience and educational background in tech, you too, can be the CTO.

Image Credits: Chad Kainz via Flickr

Image Credits: Chad Kainz via Flickr

Sources: 1, 2, 3, & 4

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Stay At Asia’s Most Beautiful Beaches For Less Than S$81 A Night

Whether you are having the an indulging weekend off or having an intimate beach wedding, the surest way to ensure that you get the most stunning moments on print is to have it taken at the beach! Not only will you get gorgeous pictures of the event but also the photographer will follow you along the romantic sandy shore aisle.

If your only concern now is to get the most breathtaking beach resorts at affordable prices, stay as long as you desire at Asia’s Most Beautiful Beaches For Less Than S$81 A Night (airfare not included)

1. BORACAY, PHILIPPINES

Boracay at Dusk

Boracay at Dusk (Image credit: Chewy Chua, via Flickr)

Dubbed as the tropical paradise in Asia, Boracay has something for everyone, from luxurious spas to exhilarating water sports. Here in one of the most popular go-to island in the Philippines, you shall enjoy meals for less than S$10! Watch the sun set over the white sandy beach and sleep at its decent resorts costing as low as S$34 a night!

Here are the recommended places to stay at, courtesy of Agoda – a renowned online global hotel platform:

a. Boracay Holiday Resort

Rooms from S$66.70

Online Rating: 7.4/10

b. Levantin Boracay Resort

Rooms from S$33.88

Online Rating: 7.9/10

c. Hey Jude South Beach Resort

Rooms from S$56.55

Online Rating: 8.2/10

d. Shore Time Hotel

Rooms from S$77.71

Online Rating: 8.4/10

2. KOH PHANGAN, THAILAND

Koh Phangan

Koh Phangan (Image credit, soma-samui.com)

Thailand is a country full of amazing beaches. Nestled in its southeast region is Koh Phangan. Due to its monthly “full moon parties”, Koh Phangan is place mostly clamored by young travelers. Full moon parties are infamous for its night-long music, cheap drinks, and affordable food. Rest assured the crowd will go mad at this once in a blue moon experience!

Start the party at these recommended places:

a. Buri Beach Resort

Rooms from S$51.56

Online Rating: 7.4/10

b. Da Kanda Villa Beach Resor

Rooms from S$27.14

Online Rating: 7.4/10

c. Cookies Salad Hotel

Rooms from S$32.05

Online Rating: 8/10

d. Beyond The Blue Horizon Resort

Rooms from S$42.91

Online Rating: 9/10

3. BAC MY AN BEACH, DA NANG, VIETNAM

BAC MY AN BEACH

Da Nang Beach (Image Credit: http://danangbeaches.visitwonders.com)

One of the most impressive beaches in Da Nang city that tourists will enjoy is the Bac My An beach. It is a place filled with white sands, clear blue water, and quality resorts. Surprisingly, rooms at Da Nang are available for as low as S$13 a night! What’s more? The street vendors offer can satisfy your hunger for less than a dollar!

Rest after long demanding days at work in these recommended places:

a. Gold Coast Hotel

Rooms from S$73.74

Online Rating: 7.1/10

b. Fansipan Hotel Danang

Rooms from S$80.44

Online Rating: 7.8/10

c. Grand Mango Hotel Danang

Rooms from S$48.40

Online Rating: 8/10

Have an unforgettable trip! 🙂

Sources: 1 , 2, & 3

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5 Things You Must Know About Microfinance In Singapore And Beyond

As majority of people in developing countries are economically disadvantaged, Microfinance proved to be a viable source of capital. In fact nearly 15% are living below S$1.68 a day, according to the World Bank. Fueled by hope and excitement towards success, both public and private sectors are willing to accept the risks of working with numerous borrowers. The only factor in the way are tightened financial regulations across the world. That said, here are 5 Things You Must Know About Microfinance In Singapore And Beyond…

1. DEFINITION OF MICROFINANCE

Microfinance refer to a diverse group of services that specifically target people who are low-income earners and who are often denied access to banking loans. Microfinance services include loans, savings, remittances, and insurances. Interestingly, Microfinance gave women the biggest economic boost.

2. RISE OF MICROFINANCE

Muhammad Yunus, founder of Grameen Bank, developed Microfinance in 1974 to promote self-sustaining social businesses in Bangladesh. Since then, millions of people around the world have opened Microfinance institutions that allowed Microcredits. With Yunus’ valued efforts to impact many and improve global economy, he was awarded the Nobel Peace Prize in 2006.

3. TECHNOLOGIES AND MICROFINANCE

Funding more than millions of people, Microfinance aided by technology became a perfect match in helping to eradicate poverty. Hatton National Bank’s Chandula Abeywickrema highlighted that Sri Lanka had been experiencing relatively high mobile technology tap. For instance, mobile technology allows rural residents to perform transactions through mobile platforms. This will surely bring newfound opportunities.

4. INTEREST RATES OF MICROFINANCE

The interest rates of Microfinance services vary across the board. In 2010, several organizations and websites have sited the rate to be about 37% in average. Borrowers are required to pay these rates to receive the money they need. Certainly, the rates are still cheaper than that of the banks’.

5. SINGAPORE MICROFINANCE NETWORKS, ORGANIZATIONS, AND COMPANIES

Open a small business or help others to be entrepreneurs with these networks, organizations, and companies:

a. Microfinance Society (Singapore)

b. MILAAP

c. Kiva Lending Team: Singapore

Image Credits: Dean Meyers via Flickr

Image Credits: Dean Meyers via Flickr

Through Microfinance, may we not only show care to the underprivileged sector but also show immediate action toward activities that promote social welfare. 🙂

Sources: 1, 2, 3, & 4

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