Author Archives: danielleteboul

The Pros and Cons of Crypto!

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Cryptocurrency….the buzz word that is on everyone’s lips. Cryptocurrency gained popularity a few years ago, but since the pandemic more and more people are interested and wanting to know more on how to earn some money with crypto.

But, is investing in crypto for you? Cryptocurrency is, in short, a digital or virtual currency, which are mostly decentralised and based on blockchain technology. There are many reasons why people use and invest in different coins. Here is a list of some pros and cons of crypto, so that you can make an informed decision as to whether you want to go ahead and buy!

Pros

Transparency

This may be the top reason why people want to invest in cyrpto; cryptocurrency offers much more potential for societal change. All digital currency transactions are stored on the blockchain. This means the data is available for anyone to view at any time. For those who want more transparency in the banking system, this is a very big plus.

Instant Accessibility

There are so many platforms to access digital currencies, such as Binance, Coinbase and Bisq, meaning that you can sell and buy crypto anytime, anywhere. This means that users can make financial decisions in real time, instead of missing a trend because they’re not near a computer. This also means that digital currency is available to everyone, not just investment bankers. For those who want a piece of the pie, but don’t want the fat cats to get any of their money, cryptocurrency is a great option.

Potential of High Returns

From 2016 to December 2020, Bitcoin in USD has compounded at an annualised growth rate of 131.5%. In comparison, the S&P 500 index of large cap US equities has compounded at an annualised growth rate of 14.5%. Clearly, the potential to gain on a crypto investment is a lot higher than traditional investment methods.

Cons

Potential of High Losses and Volatility

With high returns comes higher risk. The maximum monthly bitcoin return over the 60 months to end December 2020 was 76.1% and the minimum -37.6%. This shows that users will have to constantly check on their coins- as just as quickly can they make a massive profit, then can also plummet at the same rate. Users have to be able to time the market correctly to avoid major losses. This means that a lot of knowledge and research is needed before hand. Not only this, cryptocurrency aims to be used like you would a dollar. Imagine if you bought a coffee for $4 one day, and the next day the same cup of coffee cost $36…would you buy it? This extreme volatility means that it seems unlikely that crypto will be able to be used as actual currency anytime soon.

Legal Status

The legality of cryptocurrency varies country to country. Some countries, like Saudi Arabia, India, Bolivia and Algeria have all banned the use of crypto. There are many reasons why a country would ban digital currency; cryptocurrency cannot be regulated by the government. If a country wants to maintain financial control, of course they would want to ban it. Because of the anonymity of crypto (more on this later), it can be used as a method of money laundering or tax evasion, which is why some countries ban the use. Laws around digital currency are ever changing, which means that one day it could become illegal in your country, and all that money that you’ve made could be inaccessible.

Ethical Issues

Because cryptocurrencies have no official oversight or regulation, they are wide open to being exploited by criminals as a means to scam unwary investors. A 2019 study showed that 46% of bitcoin transactions are associated with illegal activity. Not only this, it has been proven that crypto is quite detrimental to the environment. Cryptocurrency blocks are added to the blockchains through crypto mining, where high-powered computers solve intricate mathematical puzzles. This technology takes a lot of energy to power these computers. Mining bitcoin now consumes more energy per year than the whole country of Argentina. Bitcoin’s emissions could increase the Earth’s temperature by 2 degrees. This brings to question the sustainability of this industry.

There are of course many more pros and cons to cryptocurrency, but there are too many to mention. Of course, if you want to know more about investing in cryptocurrency, please do your own research.

What are your opinions on cryptocurrency?

How To Be A Successful Investor!

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You may think that investing is not for you; maybe you’re not experienced enough, maybe you don’t have enough capital. But, the whole process of investing is not as scary as you think. Follow these simple tips and start investing successfully.

Start Before You’re Ready

This may seem counter-productive, but hear me out. Have you ever refrained from doing something, for fear of the risks? And then the thing you didn’t do, happened, and you regretted it? Hindsight is a fickle friend, so don’t miss an opportunity to start investing. Tackle your fear and start before you’re ready, because, to be honest, you will never be ready; “I’ll wait until next month…Let me do it after I’ve paid my bills…Maybe next year.” Take the plunge! If you don’t, you’ve already missed out on so much time you could have been investing.

Don’t Be Emotional

This point is crucial. You have to take all emotion out of investing, mainly fear and greed. If you see your investment plunging, your first response may be to sell, out of fear of losing even more. If you see stocks going up, you may want to buy before they go up higher, out of greed. Doing this eventually leads to buying high and selling low, losing you money in the long run.

  Instead, take advantage of dollar-cost averaging (the concept of buying the same amount at regular intervals). This method makes your investment almost robotic. Another thing you can do as well, is to make your payments into your investments automatic. Set up GIROs or transfer straight away after you get paid, so that you don’t even think about it.

Plan Situations In Advance

Another great tip is to have a set of ‘rules’ before you invest, so that if X was to happen, you already have a Y. For example, if you have a target buy price of a stock in mind, stick toit and do not deviate. This forward planning also helps you take emotion out of investing and manages your fear and greed.

Use Volatility To Your Advantage

Volatility is inevitable with investments, similar to if you go to a theme park you know there will be rollercoasters. A quality of a true investor is being able to hold onto their investments through times of great volatility. Even though it’s scary when investments go down, it’s not permanent. Stocks do not permanently lose their value. Use times of volatility to define your objectives, focus on what stocks are trending and always remember to be prepared for these situations. It’s all part of the game!

Do Some Homework!

Learn about the world around you; politics, technology, science, all have an effect on the financial world. Read up on current affairs and look out for things that could affect the economy and stock markets. The more you read, the more you will start to see trends in the market. I recommend reading The Economist, Business Insider and Bloomberg.

Know What Kind Of Investor You Want To Be

There are two types of investors; passive or active. Passive investors invest in mutual and index funds. If you’re unsure what these things are, check out my article “Investing Terms You Need To Know”. Passive investors benefit from long-term growing financial markets. Their investments are managed by fund managers, shuffling their money around for them on a regular basis. I would consider myself a passive investor; I leave the experts to do their job and just put my money in these funds over regular intervals. This, along with dollar-cost averaging, helps me remove my emotion from investing.

  An active investor has to be very committed, professional and knowledgeable in what they are doing. If you decide to be an active investor, do your research! Know which stocks you want to invest in and be prepared to keep an eye on them. Try to be robotic about it and apply the previous tips.

Have A Long Time Horizon

I’ve mentioned it before but an investor who holds onto their investments longer, usually benefits the most. While the stock market is often volatile over shorter periods of time, the economy generally grows year by year; the inflation rate in the US in 2010 was 1.64%. In 2021, it is currently 2.21%. While inflation rate is annoying in terms of making things more expensive, it is an indicator that the economy is doing well. A higher inflation rate means more spending, more demand for products and triggers more production to meet the demand.

  This means that if you hold onto your investments for longer, you are avoiding short-term losses and in turn benefitting from the growth of the economy.

To conclude, no one can be the perfect investor (if that was the case we’d all be rich), but if you follow these steps you are more likely to make better choices and become a successful investor!

Best Hawkers For Expats…Part Two!

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It’s back! Another list of hawkers that expats might not know about, but should! I got a bit of backlash from my first post so, just to reiterate…this is not a list containing all the well-known expat locations like Newton or Lau Pa Sat; I am not writing about these because a) everyone already knows about them b) I sometimes think they’re a bit overpriced.

If you’ve tried my previous list and are looking for more suggestions then please read on!

Old Airport Road

Must Try: Curry Chicken Noodles

To be honest, I don’t know why this wasn’t in my first list. Old Airport Road is great; it has such a wide selection and it is huge- there’s something for everyone. The chicken rice there is great, the curry chicken noodles are delicious and there is an abundance of beer, what more could you ask for!

Chom Chom

Must Try: Stingray, Carrot Cake

This made the honourable mentions list last time but I went back recently and tried pretty much everything there! The food there is very reasonably priced and it is your one-stop-shop for all Singaporean food. The feast I had contained satay, chicken wings, black and white carrot cake, stingray, rice and kangkong. Can I just say that the portions are huge so be careful when ordering! I definitely over-ordered!

Seah Im Food Centre

Must Try: Boat Noodles

This hawker centre is a short walk away from Vivocity. It’s incredibly underrated and is great after a long day at Sentosa. During the day a lot more stalls are open than at night, but no matter what time of day you go I would highly recommend the Thai stall that sells beef boat noodle soup; it’s spicy, flavourful, comes with or without beef stomach (I personally like it with) and you get a good bowl for a cheap price! There are many stalls to choose from, so if you’re not particularly in the mood for Thai you can always grab something else.

Golden Mile Tower

Must Try: Leng Saap

Speaking of Thai food, next to the very famous Golden Mile Complex is Golden Mile Tower. In the basement there is lots of great food, notably leng saap, or pork spine soup. This soup is not for the faint of heart; imagine a vast bowl filled with spicy coriander soup, and protruding out the top, massive pork spines where the meat falls off the bone. You can choose your size and spiciness level, and the soup is usually refillable. The meat that comes off the pork spine is so juicy and tender, it’s making my mouth water just typing about it!

Eunos Crescent Market and Food Centre

Must Try: Yong Tau Foo, Indian Rojak

Right next to Eunos MRT Station, this hawker is packed full of choices. It may seem small, but each stall as something different. I also think that, because it’s not very well known by expats, it tends to be more reasonably priced. The satay here is great, and you can get hand pulled noodles at the ban mien stall. Behind the first set of hawkers is another, mostly specialising in Chinese and Hong Kong cuisine. Here I recommend relaxing with a beer and trying the Mala Xiang Guo. When I don’t know what to eat, my go-to is either the Indian rojak stall, or the Yong Tau Foo with laksa gravy.

So there you have it, another 5 great places to eat around Singapore. I hope this list has got your mouth watering enough to go and try all my latest top picks! Which hawker is your favourite?

How To Cope With Co-Payment

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A few weeks ago, I wrote an article about the changes to medical insurance here in Singapore. If you haven’t read it yet, please go and have a read. As of April 2021, all insurance companies in Singapore will have to introduce a co-payment system; whereby the patient will have to fork out a portion of the hospital bill, which cannot be claimed or reimbursed.

So how do we tackle this problem? I will explore a couple of solutions here; long and short term.

Short-term Solution

To counteract the impact of losing some of your money to co-insurance and deductible on a medical bill, you can choose to include a hospital income plan to your insurance policy. This plan will pay you cash each day you are hospitalised and recovering at home, regardless of the cost of the hospital bill. This is a good way to fill the shortfall that you cannot claim, and it can be used for each time you are hospitalised. This is a quick and cheap option to save on that bit of cash.

Long-term Solution

Medical inflation increases year by year, and it is a problem that will not go away. Obviously, a hospital income plan can only go so far to counteract the rising cost of healthcare in Singapore. There are some ways in which you can prepare for a bit hospital bill in the long run.

Consider adding an extra plan to your insurance portfolio that is kept only for long term use and emergencies only. You can start by putting a small amount of your savings into a plan that will grow this cash for you at a better rate than the bank. Not only that, you can include insurance coverage in this plan. So, if the worst should happen and you are diagnosed with a critical illness or become disabled, you have a lump sum pay-out to supplement the cost of treatment, or help you with adjusting to your new lifestyle. No one likes thinking about these things happening, but it is best to prepare for the worst before you run into any problems. Hindsight is a wonderful thing, but it will not help when it comes to paying for a hospital bill.

I have posted a QR Code below to my WhatsApp should you have any questions or need help planning this out. If you would like me to review your current policy I would be more than happy to do that also.

Singlish For Expats!

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Many expats move to Singapore thinking that life will be easy because everyone speaks English. Then you walk around the hawker centres and just think ??? What is everyone talking about?! Don’t fear, here is a mini Singlish dictionary for expats- impress your local friends and make them say, “Wah! This Angmoh speak Singlish leh?!”

Can lah-

Your most commonly used Singlish phrase. A phrase used to affirm a statement or question.

Example: “Are your free for lunch at 2pm?”

“Can lah!”

Shiok-

A term of general approval, showing that something is very pleasing.

Example:

“These chicken wings damn shiok!”

Makan-

Malay word meaning ‘to eat’.

Example:

“You want go makan or not?”

Lepak –

To rest or to chill.

Example:

You want to go Seletar Bridge to lepak?

Correct-

Another word of affirmation. Simply means ‘yes’. Top tip, drop the sound of the ‘t’ at the end.

Example:

“You don’t have NS in UK is it?”

“Correc”

Confirm one-

Even more affirmation than ‘correct’. Adding ‘one’ on the end of your sentence adds emphasis one.

Example:

“You speak Singlish meh?”

“Confirm one.”

Kena-

A word with negative connotations that means ‘to be affected by’.

Example:

“How was that restaurant?”

“Not shiok. I kena food poisoning.”

Kaisu-

A Hokkien word denoting a fear of missing out, pushy and somewhat selfish attitude. Often used to describe Tiger Moms.

Example:

“She puts her kids in so many enrichments. She’s so Kaisu.”

Kaypoh-

Another Hokkien word, this one often describing someone who is nosey, not minding their own business.

Example:

“Stop looking across at that table, you’re so kaypoh!”

Sien-

Bored, fed up, sick of it.

Example:

“Everyday I go office, come home. I’m so sien lor.”

Wah lao eh-

Singlish version of OMG! Usually used when something frustrating or annoying has happened.

Example:

“I spilt my kopi on my shirt, wah lao eh!”

Singlish may seem confusing and tricky at first, but the more you hear it the more you get used to it. Try some of these on your local friends!

Outdoor Singapore

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Singapore’s weather has been incredibly hot and sunny lately, and if you would prefer to spend your days off being outdoors soaking up the sun, rather than indoor activities, then have I got a list for you! Read on for my top picks for things to do outdoors in Singapore!

  1. St John’s and Lazarus Islands

Don’t you miss being on holiday? Sandy beaches, relaxing by the ocean and sipping beer? Me too! Whilst we can’t travel overseas, the closest thing I can think of is heading over to St. John’s and Lazarus islands. You can take a ferry from Marina South Pier over to these islands, along with Kusu Island. To be honest, I wouldn’t really recommend Kusu island as last time I went half of it was closed and there was just a small temple to visit. But the beaches at St. John’s and Lazarus islands are way better than the ones on Sentosa. Think white sand and warm clear seas. One thing to note is that there are few to no facilities, especially on Lazarus island. So, it’s best to bring everything with you, especially extra water, as it gets so hot!

2. Kayaking

There are many options for kayaking in Singapore, and it really just depends on your preference. If you want a fun couple of hours on a kayak you can do it at East Coast Park. If you want a longer adventure you can kayak to Pulau Ubin and explore all its mangroves and waterways! And if you want something totally different and unusual, you can try a kayaking fishing trip (don’t worry, fish are released after you catch them).

3. Pulau Ubin

Speaking of Pulau Ubin, if you love cycling then this is the perfect day out. Catch a boat from Changi Jetty over to the island and enjoy the rugged landscape by foot or by bicycle. You can rent bikes over there, even tandem ones, and ride around the whole island. If you’re lucky, you may catch a glimpse of some wild boars! And, when the long day is over, you can chill at the Little Island Brewery at Changi and relax with some cold beers.

4. Sungei Buloh Wetland Reserve

If you love wildlife and want to spend your day exploring mangrove wetlands, this Heritage Park is the place for you. Not only is this area abundant with migratory birds, but you can also catch a glimpse of otters, lizards and even crocodiles here! If you want a change of scenery from the hustle and bustle of the city, then head up to Kranji and enjoy this ecological gem.

5. Nature Walks

There is a plethora of nature walks in Singapore, and in my opinion, they are all worth doing. Head to MacRitchie to do the famous tree top walk (watch out for monkeys!), Bukit Timah Nature Reserve (maybe my favourite nature walk), Bukit Batok Nature Park, Labrador Nature Reserve…the list goes on! Considering Singapore is such a small country with so many people and so many high-rise buildings, it is amazing how many parks and outdoor trails there are! Which one is your favourite and why?

Singapore really does have a lot of outdoor activities to offer, so get out there and explore!

Singapore: Important Updates to Insurance You Need To Know About!

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As we all know, Singapore does not offer free healthcare; for locals, a lot is subsidised by their Medisave but for expats we must pay the full cost and wait for reimbursement from our insurers.

But there will be some new changes this year that all insurers in Singapore will have to follow, which will affect the consumer. Here’s what you need to know.

In March 2018, the Ministry of Health announced that insurers will have to stop offering plans that cover the full cost of hospital bills, and riders that do so will have to contain a ‘co-payment’ feature. This means that patients will have to foot part of their hospital bill, in order to keep healthcare costs sustainable.

From now on, if policyholders are hospitalised, they will have to pay 5% (at least) of the hospital bill. This co-payment is the government’s attempt to maintain policy premiums, and encourage responsible usage of the Singapore Healthcare System…doctors and patients alike.

So what can we, as a customer, do to ensure that we can keep up with these changes? The first is to double-check what your company provides in terms of insurance coverage, as company plans will often cover different things than personal. Second, ensure you have an accident plan that includes some medical reimbursement benefit. Therefore, if you are hospitalised due to an accident, you can claim somewhat off this plan. The third and, in my opinion, the best method is to ensure you have some sort of plan you can use as an ‘emergency medical fund’. Pay into this fund for a few years and, should anything happen, you can use this to cover the co-payment. It can also include features that will cover you should you become disabled, or suffer from a critical illness.

Have you readjusted your medical planning? Do you have any questions in regards to your insurance or future planning? If so, comment below or send me a message!

Covid Vaccine Cover!

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Hi There! Are you planning to take the COVID-19 Vaccine? I’m here to give you a confidence boost as you take this brave step. AIA is now offering a COVID-19 Vaccine Cover for FREE!

Apply by 30 April 2021 to enjoy the following benefits up till 31 December 2021.

1)      Up to $1,000 cash pay-out if you’re hospitalised due to COVID-19 Vaccine Complications.

2)      $500 lump sum cash pay-out if you’re hospitalised due to COVID-19.

*T&Cs apply. Please refer to the application website for full details. Protected up to specified limits by SDIC.

Contact me to find out more or simply click on the link below to apply now!

https://www.aia.com.sg/en/AIACovid19VaccineCover-app.html?unique=79672

Best Hawkers For Expats!

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  When the conversation of coffee shops come up around expats come up, Newton is ALWAYS mentioned. It’s the one in Crazy Rich Asians, it’s the one where people try sting ray for the first time, but it’s pretty touristy and they jack the prices up. So, I’ve come up with a list of my favourite hawkers across Singapore, and what my favourite food is from those places.

Maxwell

Best Things To Eat: Chicken Rice, Shanghai Dumplings

  This is my favourite hawker in the whole of Singapore; the food is so delicious and very reasonably priced. My top picks for food would be the chicken rice; there’s a lot of famous chicken rice stalls at Maxwell and they’re all so tasty. But my absolute top pick for food here is the Shanghai dumplings; they’re incredibly juicy and soft. And, the beer is cheap!

Bedok Food Centre

Best Things To Eat: Mala Xiang Guo

  I don’t know why people don’t talk more about this hawker- it’s MASSIVE and there are so many amazing and delicious things to try here. It gets very busy on the weekends to make sure to bring some tissues to chope your table! The mala xiang guo is very fresh and yummy and incredibly reasonably priced; I often find mala to be quite expensive if you’re eating for 1, but this only costs $5!

East Coast Park

Best Things To Eat: Satay

 Of course I was going to put this on the list- there are so many fantastic foods to try. I love the stingray, the carrot cake, the fried rice but especially the satay. People say that Lau Pa Sat has the best satay but I disagree- East Coast Park takes the gold. What’s more, the beer is the best here- so cheap!

Yishun Park Hawker Centre

Best Things To Eat: Mee Jiang Kuah

 This is my favourite hawker in the north. It’s near where I used to live so during circuit breaker I would go there once a week just to treat myself and get myself out the house. I would highly recommend the mee jiang kuah; these fluffy pancakes come in many different flavours. I like the charcoal and peanut butter ones.

Satay By The Bay

Best Things To Eat: BBQ Sting Ray and Kang Kong

Even though the satay here is very popular I would also recommend their tze char, especially their stingray and kang kong. This hawker is a great place to go after a cycle around the Marina Bay area. It feels so rewarding chomping down on delicious food after a long day exercising!

Honourable Mentions: Nasi Lemak at Boon Lay Food Centre; Curry Fish Head at Zion; Hokkien Mee at Chom Chom

What are some of your favourite local Singapore delights?

How To Survive The Next Economic Crash!

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I think it’s safe to say that no one saw Covid-19 coming. None of us thought that we would be unable to travel, unable to see our family and none of us would have foreseen so many people losing their livelihoods, their jobs, and their lives.

  We may be lucky here in Singapore, but some were not so lucky. Those who lost their jobs have had to rely on their savings or may have even had to borrow money to stay afloat.

  Although we could not have predicted 2020, there are ways that we can prepare for another blip in our financial prosperity. Here is what I suggest.

  1. Manage your Debt

I feel like I’ve mentioned this already in previous articles but I cannot stress how important it is. When things go wrong, like losing a job for example, the monthly bills do not stop. Rent still has to be paid, the water bill will still have to be paid and, if you have debt, the monthly instalments don’t stop. That’s why it is imperative that you try and clear your debt or at least minimise your debt as soon as possible. That way, you can start focusing on other aspects of your financial life and focus on how you can grow money, not just how you can get through month to month.

2. Have an Emergency Fund

I really do sound like a broken record but, imagine if you lost your job and had no savings? You would either have to borrow money, or sell off your assets, neither of which are ideal. So, it is imperative that you are disciplined with keeping an emergency fund of at least 3 months of your salary. This money should be easy to access but not one that you dip into frequently. This fund should be for emergencies only, and used only when very necessary.

3. Have a Market Opportunity Fund

If you really want to take use of a market crash, it’s a good idea to have funds set aside for a market opportunity. This fund could be from extra savings each month from cutting your monthly expenses, or after managing your debt. You can then use this money for investing when markets are low. For example, buying stocks when they are cheap.

4. Be Disciplined With Your Investing

So, you bought some stocks cheap with your Market Opportunity Fund…now what? I would suggest making use of a term called ‘dollar cost averaging’. I have explained this term in my post ‘Investment Terms You Need To Know’. It is best to make your investing almost automatic; the same amount each month or year, so that you can weather the storm of market volatility. It means that you will earn more from your investments in the long run, instead of timing the market.

5. Diversify Your Investments

Look at what happened in 2020…the industries that were most affected were airlines, hotels, restaurants, bars and entertainment. People that had stocks in these companies could have lost a lot of money. Therefore, it’s best to diversify your investment portfolio so that you have a mixture of stocks, bonds etc in lots of different industries, to minimise the risk of loss.

6. Have a Side Hustle

My last point is really an optional one, to ensure that you never miss out on making money should another crash happen. Some people, like myself, are not able to have a side hustle (fyi because of my visa I cannot have more than one job). But, if you have a different skill or something that can be sold from home, it may be good to explore it further and monetise on it. For example, you may be very good at Photoshop or good at website design. These are services that you can sell and do whilst you are at home.

  Follow these steps and not only survive but thrive in the next market crash!