4 Common Costs That You Can Actually Avoid Easily

Everyone has their own habits that they don’t want other people to find out, but aside from the weird and disgusting habits, there are also the ones that could make wallets and piggy banks cry. These are the wasteful spending habits that make you wonder where all your money goes when you take a look at your bank account or your wallet.

Be sure to watch out for these small things that are making you spend more money than you should:

Paying for unused subscriptions

Are you still subscribed to that Netflix account you don’t have time to long into? How about that gym membership you never got around to actually using because of your hectic schedule? If your answer to this is yes, you can start saving money right now by cancelling your subscription to these services. It’s still okay to retain some subscriptions, but only if you’re still using them actively.

Recreational shopping

When you’re trying to save as much as you can, one of the worst things you can do for a hobby is shopping. Not only is it expensive, but the feeling of happiness you also get from every haul only lasts for a really short amount of time. In fact, the more you shop recreationally, the more likely you want to spend money to buy more and keep that feeling going, and this can drain your wallet or bank account really quick.

Losing receipts

Do you have a tendency to just throw away your receipts without reading them? If so, make it a habit to always keep them the next time you go out shopping for anything that you want or need as part of your daily expenses. Keeping your receipts and writing them down is a great way to track down your expenses and find out where most of your money goes.

Once you do know where, you can budget around it to better suit your needs. Keeping receipts also let you avail of warranties when dealing with factory defects, allowing you to take back the defective item and replace it with a brand-new unit.

Letting food spoil

Saving money on food might seem simple at first, but it really takes a lot of effort to be able to cook your own dishes that you can bring to work or eat at home. If you’re too tired to do this, you might find yourself wanting to save time ordering take-out instead. While this may be fine once in a while, you’ll notice that this will make you more likely to forget about the groceries or leftovers you have in your fridge, and leaving them to spoil.

7 Principles on Building Wealth Taught in a Book Way Older than You

Considered a classic book on financial advice, The Richest Man in Babylon was published in 1926 by George S. Clason as a collection of parables from ancient Babylon. Almost a century from its first release, it still remains in print because of the valuable lessons it teaches regarding money.

1.  The Start: Keep 10 percent of your income

Simply put, you can start “fattening your purse” by saving 10 percent of your income. In the parable, Arkad uses an egg basket as an example. If you put 10 eggs in the basket in the morning and take 9 out in the evening, you’ll have one more extra egg for the next morning. Arkad likens this idea to saving money. If you are able to keep 10 percent of your income, you’ll slowly build up wealth.

2.  Control your expenses

Arkad teaches that though everyone has different labors and incomes, if they all equally have no money, it’s because they easily confuse desires with necessities. This also very much applies to our time today. The second principle, then, tells us to learn how to spend less than we make.

3.  Make your money multiply

If you want to build your wealth, it won’t do you any good to keep your savings untouched. What this means is that you should open up part of your savings to make investments. This simply means you have more than one way to gain income. Invest in stocks, look for real estate investments in Singapore, and etc.

4.  Invest smartly

Guard your money against loss by making smart purchases and investments. Arkad told a story about how he lost his savings because he gave it to a brickmaker who went to look for jewels as an investment. His mentor then asked him why he would go to a brickmaker who has no knowledge of jewels, and not the jeweler.

5.  Use your dwelling for profit

Let’s say you’ve attained a certain amount of wealth and you’re able to buy a small apartment building. You keep a part of it as your dwelling and you rent out the other rooms. This is another way for you to get money easily. Getting paid for rent is, of course, better than you paying for it.

6.  Guarantee a future income

As we all know, it becomes harder to work as we age. The sixth principle tells us to plan ahead of retirement. By keeping long-term investments, you’ll be confident that you can still get money even you’re no longer able to work.

7.  Learn, Learn, Learn

Simply put, if you have a lot of skills to offer, you’ll have more opportunities to work and earn. Building wealth comes with learning new skills. If you learn a new language, for example, you’ll be much more valuable in a business. That said, broaden your horizons and keep learning!

Cards for the Ultra-High Net Worth Clients  

Ultra-high net worth clients have different needs than ordinary people. For ordinary people here in Singapore, we apply for credit cards. We can be accepted or we can be denied. If we are accepted, we  are bounded by credit limits. We do our best not to exceed our limits because we will suffer at the end of the day.


This is not the case for ultra-high net worth clients. These clients are not bounded by credit limits. Anything that they want they can have it. If they asked for the moon, maybe the banks will try and get it for them. In the previous article, we learned that there are different cards for the ultra-high net worth clients like the American  Express Centurion Card, JP Morgan Palladium Card and Dubai First Royale Card.

These cards are exclusive. There are some people who own this kind of card here in Singapore This article will continue discussing about other cards for the ultra-high net worth clients. Here are other cards for the ultra-high net worth clients:


  • Coutts Silk Card: This card is propelled by Coutts & Co. – a private bank. The card is considered the most prestigious and sought after especially because the client can access world-class concierge service. The spending limit is £30,000 per month. The client do not need to keep track of the points because the bank will send letters if the client pass the spending threshold.
  • Citibank Ultima Infinite: Citibank Ultima Infinite is offered here in Singapore, India, Hong Kong and United Arab Emirates. This kind of card is strictly invite-only. This is Asia’s first exclusive card. This is available for clients with minimum earnings of at least S$350,000 a year. However in 2010, they change their target consumers. The consumers should at least have a minimum of S$5 million assets.


Best Ways of Investing in 2015

The New Year can be a good reason to start paying attention to your finances and let it grow by investing it wisely. If you are a beginner in investing, don’t fret. You can use these suggestions in investing and getting the most out of your investment.


1.       Start on smaller stocks

The Singapore Exchange announced that the minimum lot sizes would be altered from 1000 shares to a hundred. This is a very good news because more people would be encouraged to start investing their money in shares and stocks. However, don’t jump in just yet. In order for your investment to be a success, keep in mind that in investing, there are wins and losses involved. It is important to acknowledge the risks and study your next move.


2.       Real estate

Real estate investment is relatively a low risk way but profitable way of investing compared to other forms. You can invest in different types of properties- commercial or industrial. Nonetheless, as stated above, it is highly essential to do necessary research to determine which investment strategy you are most comfortable in doing.

3.       Traded funds

Exchange traded funds are one of the easiest form of investment to get into because of its low cash requirement. Exchange trade funds are a passive form of investing that is based on an index. To start in this form of investing, you need about $100 a month. It’s also not time consuming because it does not require daily check-ins in the current standing of the indexes.


Economics 101: Getting Out of Debt

Having a debt is not new here in Singapore. There are some Singaporeans who have debt or money problems. Getting out of debt is not easy and it can be very challenging. After getting out of debt, another challenge arises – staying out of debt. It is important that you know how to manage your resources.


If you are reading this, chances are you already amassed big debts. Do not lose hope because there are many things that you can still do. Do not worry, you can redeem yourself. It only takes discipline. Here are some tips that you can consider to get out of debt:

  • Stop increasing debt: This is pretty obvious. When you decide to step away from life of debts, the first thing that you should do is stop increasing it. You have to know when to stop and be serious about it. You can start with your credit cards. It will not help you so it is better to cut them. If you do not want to cut it, at least have the discipline to keep it and only use it for emergency purposes.
  • Record everything: You should keep track of your spending so you will know where it went. It is crucial that you record your spending. No matter how small, you have to write your spending. When it is time to cost cut, you will have an idea which should be eliminated.


  • Categorize: Not all people know this but you categorizing your spending is effective. When you record your spending, do not forget to label or categorize it. For example, you can group them into “must have’s” (refers to rent, food, utilities, etc.) and “should have’s” (clothes, gym membership, etc.).
  • Make a budget: Now that you record everything and categorize it, the next step is to make a budget. Making a budget is easy because you have an idea of things to prioritize. If you are determined to cost cut, you can start right away.
  • Figure how much you owe: After making a budget, you will have an idea how much to pay. You need to know first how much you owe and the terms.
  • Start paying: You can now start paying. How will you know which one to get started? You have to choose or prioritize those that have exceeding interest rates or past due debts.
  • Repeat: For the coming months, you can consider the steps mentioned above repeatedly. The good thing about this is that it gets easier as time goes by so do not worry.