Personal Finance

Best Hotel Staycation Deals 2020: A Quick Guide To Available Hotels For All Travel-thirsty Humans

Let’s admit it, 2020 is one of the worst years ever. Travel plans were cancelled and long weekends were wasted. (Rip my national day long holiday travel plans) This COVID-19 pandemic rendered us stranded in Singapore for weeks. But, that doesn’t mean your life has to be all boring and lockdown-y from now on. You can always spice things up with a staycation! There are plenty of hotel staycation deals for you to choose from. Moreover, most of the hotels in Singapore are squeezing their creative juices to think of the best holiday package. Not sure what to choose? Not to worry! We’ll discuss ten best hotels in Singapore across price tiers and preferences. You’ll find out the cost of a room per night, ongoing offers, and how to book.   TLDR – Best Hotel Staycation Deals & Their Prices ($$$) In Singapore    1. W Singapore: Pampering Options W Singapore offers you a tremendous change of scenery. After the COVID-19 lockdown, you can finally relax and have fun with your friends at this excellent hotel. Don’t forget to pack your swimsuits and bring your tanning lotion! W Singapore has many options to pamper yourself, whether you want a relaxing day at the spa or to hit the gym. Besides, the rooms are spacious, neat and the food’s delicious!   2. Capella Singapore: Top Resort Activities You don’t have to leave the country to experience the wonders of wildlife. Capella is a lush green oasis for people who want to take a breather in the heart of nature. This hotel is nestled between tall green trees and offers you a tranquil yet luxurious environment to gather your thoughts. Relax completely with a Yoga or meditation session, or explore the beauties of wildlife around you. Besides, you’ll be staying in a premium hotel with plush beds and rooftop Jacuzzi rooms.   3. Capitol Kempinski Hotel: Impeccable Food And Dining Capitol Kempinski is the mid-tier price level. You can enjoy a full experience in this historic building if you choose the Stay in Style deal that includes: Late check out Daily breakfast

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Open Electricity Market: Your Ultimate Comparison Guide To The Cheapest Electricity Retailers In Singapore (Keppel Electric vs SP group and more!)

The electricity tariff is currently 21.43 cents/ kWh in Singapore from October to December 2020. The tariff is up from 19.60 cents for the last quarter. If you also add the 7% GST, you’ll have to fork 22.93 cents for each kilowatt per hour you consume. So, if you live in a three-room HDB flat or a studio apartment in Singapore, with an average consumption of 237 kWh/ month, you can expect your bill to go up by about $4.5. That may not seem like much. But the Open Electricity Market must have made some excellent adjustments to their prices and discounts compared to the last quarter. So, if you want a cheaper electricity bill, read this article. You’ll find out all about OEM and how it compares to the traditional electricity market. You’ll also get all the juicy details about the twelve Singaporean retailers that battle in low prices and discounts to get you to join them. What are you waiting for? Go to the light side; they have Electricity. And Lending Bee will show you how their prices compare so that you can choose the most affordable offer.   What Is The Open Electricity Market (OEM) About? The Open Electricity Market (OEM) is similar to the open telecommunications market. Instead of having one electricity provider, you can choose from twelve different retailers in Singapore. The OEM launched its initial phase on April 1st, 2018. At that point, over 100,000 households in Jurong chose their favourite electricity company and their plan. The other phases started to roll out since November 1st, 2018, when other people in Singapore had the same option. Of course, you can stick to your old plan from the SP Group. Before making your choice, here are the goodies on OEM:   Benefits Of Switching To OEM When you compare the OEM with the typical electricity system, you can’t help but notice these benefits: Wider Array Of Options SP Group, the unique energy provider, establishes fixed tariffs every quarter. By contrast, the other retailers in Singapore feature two different electricity plans. Therefore, you can decide: How

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What Are The 10 Blue Chip Stocks Trading Near Their 52-Week Low Share Prices?

To be rich in Singapore, you either need to be a successful entrepreneur or a good investor. Value investing is a valid strategy. You’ll put your money in a legit company that’s currently at a low point to take advantage of its rising stock prices once the company rebounds. But let’s clarify some of the terms in the title, first. Blue chip stocks are reputable corporations. These large companies have a long tradition and are well-established on the market. You can depend on their earnings because they’ve proven their financial capabilities. They are considered chips with the highest value. In Singapore, the blue chips are the largest listed companies in Singapore, on the Straits Times Index (STI). But sometimes, things get rough. During uncertain times, the most recent one being the COVID-19 pandemic, stocks can devalue. That’s how these stocks reach their 52-week lows. Luckily, chances are their companies will make a full turn-around based on previous experience. Hold your horses, though. Don’t make any investment without researching the company and its background. For example, Nokia was once a strong and powerful company and yet it has fallen from grace. The STI comprises the most prominent organizations in the world that have a lot of stocks available on the market. You can find 700 companies listed on the STI. Select the Singapore category, though, and you’re left with thirty. Out of these thirty companies, ten comprise almost 70% of the index. We’re talking about: DBS Group Holdings Oversea-Chinese Banking Corp (OCBC) United Overseas Bank (UOB) Singapore Telecommunications (Singtel) Jardine Matheson Keppel Corporation CapitaLand Ascendas Real Estate Investment Trust Thai Beverage Hongkong Land Holdings So why trust the STI? STI shows that these companies have increased their total returns by almost 15% since 2014 if we take into account both their dividends and capital gains. Besides, STI is under constant scrutiny. If one of these stocks doesn’t respect the criteria for STI inclusion, it’s replaced by a better one. How can you use this knowledge? Find the best 52-week low stocks.   How To Find The Best Blue Chip 52-Week Low

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Here’s How You Can Get Financial Help During The Coronavirus Pandemic In Singapore

Whether or not you are hysterical about the coronavirus pandemic, one thing we can agree on is that several households have been affected adversely when it comes to their financial situations. The economy is bad and retrenchment rates are increasing. People in Singapore are losing their jobs and many businesses have been forced to close due to COVID-19. Anyone who is brave enough to check their savings account will agree that the numbers are dropping rapidly. All banks in Singapore such as DBS, UOB, Standard Chartered and more are lowering their banks’ savings interest rates. Moreover, investors are panicking and events are being cancelled until further notice. Some of the people who have been hardest hit by the impact of the crisis are the people who face job uncertainty and layoffs. These are mostly people who are employed in everyday industries. Small businesses and restaurants have also been struggling in the wake of the pandemic with more and more people wondering how they will get money during Covid-19. On the bright side, there are different ways you can access financial support to fulfil your obligations as the pandemic rages on. Seeking Financial Help From A Licensed Moneylender Borrowing from a licensed moneylender is a legitimate option to get money. Differing to what most people think, licensed moneylenders do not charge exorbitant interest rates like loan sharks. They abide by the rules set by the Ministry of Law and will only offer interest rates between 1 to 4%. As the only moneylender in Singapore with 4 outlets and one of the few piloting new lending programs with the government, Lending Bee even has our own loan packages that offer better rates for some. If you are interested, you can make an appointment to find out more for free. To play our part and help everyone in Singapore, Lending Bee is also giving out free masks to help the community. One of the most important rules to keep in mind when borrowing money from a moneylender is to make sure that they are licensed. Even during a financial crisis, you should not

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Understanding Pawn Shops: How They Work, Interest Rates, Alternative To Loans, etc.

There may come a point in our lives where we might need to seek additional financial help. Where do we look for financial help then? Friends, family, bank loans, licensed money lenders are all great alternatives. However, there is also another viable option: Pawn shops. While often overlooked, pawnshops also offer you great investment opportunities. However, like all things,  you have to be prepared first. Doing the necessary homework and research is necessary. If you don’t understand how pawn shops work and how much interest they charge, you may end up losing money in the long-term. Lucky for you, we’ve done our due dillgence and broken down all you need to know about pawn shops in this article! How Do Pawn Shops Work In Singapore? Pawnshops work like this: you entrust a pawnbroker with one of your valuable items so that you can get a cash loan. You’ll have to repay the loan with interest by an agreed-upon date so that you can get your pledge back. If you can’t repay your loan, the pawnbroker will resell your pledge or melt your jewellery to create new ones. Usually, this period is about six months. However, each time you pay an instalment, you extend your repayment period by an extra six months. The problem is that your interest rate will grow too, so, if you can’t repay your loan within the assigned period, it’s best to surrender it all together. Otherwise, you’ll end up paying double or triple its value because the loan you receive amounts to about 60% of the market value of the item you’re pawning. Each pawn shop has a valuer who decides how much your pledge is worth. Therefore, pawning is a type of collateral-based loan. Pawn Shops In The Past Vs. Pawn Shops Now Pawning is a 3,000-year-old activity. Historical sources show that pawning was popular throughout the world, but especially lucrative in the Roman Empire, Greece, and China. Peasants pawned their clothes to get loans because clothes were the most valuable things they had. That’s why pawnbrokers got the reputation of being the “poor man’s

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Emergency Fund: Why Every Singaporean Should Have It, How Much You Should Have In It & How You Can Start Building One

The importance of having an emergency fund cannot be overstated. To put things into perspective, the COVID-19 outbreak has rendered many Singaporeans jobless.  During these tough times, it pays to know that you have an emergency fund kept in place. This ensures that you’ll at least have some spare money to fall back on when things get rough. What Is An Emergency Fund? An emergency fund is an amount of cash set aside to handle unexpected crises such as medical emergencies, sudden loss of income, accidents and other similar occurrences. You will definitely  have faced some sort of emergency at a point in your life. Having a crisis can paralyze your life for a long time, especially if you had not planned for it financially. An emergency fund will enable you to ride through such challenges and keep you afloat economically, even in the face of a crisis.  It would be best to make it a priority and to include some savings for an emergency fund in your budget. Why You Should Have An Emergency Fund Here are some excellent reasons for you to build up an emergency fund. 1. You Are Planning To Get Out Of Debt If you are working on a plan to get out of debt completely, then it would be best to build up an emergency fund that you can use whenever you have a crisis. It will help you to refrain from taking up any additional debt whenever you have an unexpected financial need. This way, you will gradually be able to pay off your current loans. Ultimately, you’ll also get out of debt sooner rather than later. 2. You Only Have One Source Of Income Some Singaporeans have more than one source of income. It helps to cushion them if they happen to lose their primary income source. However, if you have a single source of income, then it will be wise for you to set up an emergency fund. It will help to keep you afloat if you happen to lose your only source of income. 3. You Work On A Contract,

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14 Best Ways To Earn Passive Income In Singapore (2020 Update)

You might currently be holding a full time job and drawing a stable monthly salary. But what if you are able to earn passive income without actually having to forsake your full time job? Passive income is the money you earn without requiring a lot of your personal touch, involvement or input. You just build something and it works for you and generates income without demanding your real-time presence. This type of business requires minimal effort to maintain the revenue flow, thus granting one the flexibility or free time to concentrate on other matters. Thanks to steady progress in technology, one can now start earning extra cash. Here are some brilliant passive income ideas. In Singapore, those who seek to earn passive income usually do it for some of the following reasons: It gives a good accumulation of wealth which can be used during retirement: Many Singaporeans struggle with financial difficulty during their retirement years. The money received on pension is rarely enough, therefore, earning some passive income over the productive years becomes very useful during sunset years. Can go a very long way in helping to pay off debts: This is can a great relief, especially where there are default fees being charged. The passive income will help to reduce the pressure that comes with debt repayments and also help to improve the credit rating of the borrower. Generating a passive income is a way of growing financially: It is actually one route to financial stability in the long run. Many Singaporeans would love to reach a state where they have enough financial investments to actually retire early. Having a passive income can provide this opportunity. There are some popular ways of earning a passive income in Singapore. 14 of these ways are given below: 1. Start A Blog One of the best known routes to earning passive income is through blogging. At first, there will be little or no income, but with time, the money starts flowing in. Although it may sound easy, starting a blog requires excellent planning. You will first need to pick one area of interest.

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6 Ways to Improve Your Credit Score – Get the Loan You Want

I am struggling with bad credit. Is it the end of the world for me? Fret not! There are ways for you to improve your credit score. While having bad credit is usually a costly and stressful experience in Singapore, it does not have to be the end of your financial prospects. The situation may appear to be dire and hopeless, but bad credit is something that can be dealt with effectively. There are various things that can be done to begin the journey to improve your credit score. Credit Scores Let’s start with the basics of what a credit score is. A CBS credit score refer to the grades that consumers are given by the Credit Bureau of Singapore (CBS). These numbers are shared with financial institutions (banks, licensed money lenders, etc.) and creditors who may want to approve someone’s good credit or extend a loan. It also acts as an indicator of the likelihood that an individual makes timely repayments on loans or whether he or she goes into default.  Credit scores are given on an index of 1000 – 2000 (AA – HH), with 1000 (HH) being the least ideal and 2000 (AA) being the most ideal. Creditors use credit scores to determine whether a person is credit worthy or a worthwhile credit risk. This makes it possible for creditors to find out whether there is a high possibility of the borrower making timely payments on a loan or paying off credit card bills. Third parties such as lenders often use credit scores as a way to evaluate the risk of lending someone money. Credit scores are among the options that various institutions, credit card companies and banks have for assessing the likelihood of a person being able to pay off the debts that he or she accumulates. Higher credit scores show that a person’s past behavior and current circumstances indicate an ability and willingness to pay off the loans they have been approved for. With that said, credit scores are only one of the many factors that we look at while assessing whether you are suitable

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Just Got Your First Credit Card? Here Are 7 Tips To Avoid Credit Card Debt In Singapore

A credit card comes with the aura of having money galore at your fingertips. But if you don’t use your credit card responsibly, you’ll be tempted to make up to 100% more useless purchases than you would with cash. With the influence of social media and peer pressure, it is common for Singaporeans to splurge on luxury goods to keep up with the jones. That can bury you in debt and ruin your credit score. To avoid this, read the tips below. You’ll learn how to make the most of your credit card to enjoy the many perks that come with having one and to improve your credit score. 1. Work With A Budget A lot of people buy things they don’t actually afford when they have a credit card. Using cash is easy: it tells you the exact amount you can spare, so you have to stick to that sum, whether you’re paying for a dinner out or a new suit. Credit cards don’t give you a realistic idea of how much money you have because you can postpone paying for your balance and because there are no immediate penalties. To avoid falling in the trap of useless purchases, establish a budget. For instance, 60% of your budget can be allocated for necessary items you can’t live without, like paying your bills and food. 20% can go to things you don’t necessarily need, like new books or new clothes, and 20% for savings and paying your balance. Of course, many people confuse things they need with things they want but don’t need, which makes them more likely to incur additional payments on their credit card. 2. Keep Track of Everything After you’ve set up your budget, you can start spending your money. But that’s not the last step because you need to keep track of every purchase you make. Your credit card is likely to come with an app, so that will help you analyze your payments. The app will help you stay disciplined and accountable, provided you’re not going over the limit you’ve set. If not, you can

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