What Is An NFT?

This question has been cropping up all over Twitter, in conversation, and was even the first question that came up when I started typing into YouTube. So what is an NFT, is this going to be similar to the Dot Com Bubble or the Tulip Mania in 1634? (Yes, this is where Dutch people thought that tulips were super cool, so much so to the point that a tulip bulb could cost 10 times the annual income of a skilled worker.) Let’s dive a little deeper into the internet’s latest craze.

Let’s start with the basics- NFT stands for ‘Non-Fungible Token’. To be honest, the word ‘fungible’ was one that stood out to me, not because I like that word, but because its definition is so specific and complicated that it’s easier to just say ‘replaceable’. Essentially, this means that an NFT is unique, one-of-a-kind, like the Mona Lisa or the Venus De Milo. An NFT is unlike any other. The T, token, is all to do with blockchain. Essentially, blockchain is a public record of transactions; so if one person makes a transaction, everyone else can see it, and it’s almost impossible to change, hack or cheat the system. This kind of technology has become very popular as peoples’ mistrust of centralised banks increases.

This is all well and good, but what do all these concepts have to do with GIFs? Or random pictures online? In theory, this all boils down to human psychology. Who decided that gold was valuable? Or paper money, or fine art, or….anything for that matter? If a large enough group of people decides that something is of value, then it becomes so. A large group of people basically decided that things online (tweets, pictures, music, highlights of an NBA game, you name it) are valuable enough to have a numeric value to them. But, how can someone buy something that doesn’t tangibly exist? Well, with blockchain, we have the technology to be able to put these purchases on public record, so that no one can dispute that a specific person has bought a specific image, or whatever it may be.

Does anyone remember Nyan Cat? That strange little GIF way back when Myspace was a thing? It’s a GIF of a pixelated flying rainbow cat? Well, in February, Nyan Cat’s creator Chris Torres sold the NFT version for roughly $580,000 USD. This was the first ever meme to be sold as an NFT, and I think it does mark a new era where digital artists can have the same recognition as normal ones.

And I know that all this may seem ridiculous to some, ‘how can you own something that doesn’t exist’, but the reality is that our world is now moving online. Back in the 90s, the internet was taking off; people would never have imagined that all our banking can be done online, we can send people money via our phones or that we wouldn’t need a physical credit card or cash to make payments. Isn’t that the same as us thinking that NFTs aren’t real? Money is no longer just tangible cash or card- it’s a figure on our computer screen. So I think it’s only natural for the world of investments to head in this direction. I think that the stage our world is at with NFTs, is the stage we were with the internet in the 90s. It’s a hype right now, the new technology is exciting. But, will it crash or burst like the Dot Com Bubble, the Real Estate Bubble or Tulip Mania? Is this all a fad that will burn out- the brightest star burns quickest…will that be the same for NFTs?

How Social Media is Messing Up Your Money

Social media has definitely become a very integral part of our lives; we can connect with our friends, share our idea, show off our photos and pretty much expose every part of our lives online if we wanted to. It’s especially great for us expats to stay in touch with people at home and abroad. I also think social media is a great tool for broadening our horizons, listen to new ideas and keep up with the news. However, it has a flip side; what we see on social media is not 100% real…people only showcase the best aspects of their lives online; be that be their jobs, their holidays…their belongings…everything is not as it seems. That’s why it’s particularly important to be conscious of how social media affects you. Here’s some ways that social media is BAD for your bank account.

FOMO Spending

This is a term I heard of lately and, as soon as I read it, it instantly resonated with me. FOMO (or, ‘fear of missing out’) is something I suffer from frequently. I often feel like I need to attend every social event or gathering, and that if I don’t, I’ll be missing out on so much fun and good times. Especially now, during lockdown 1094829953892 (whichever one we’re on), I feel like I need to get as much social interaction as I possibly can. But, this isn’t always so good for my wallet…brunches, drinks…. some of you may go on friend staycays. This all adds up!

  It’s always good to cultivate a friendship circle that is empathetic and adapted to your financial lifestyle. Having friends that are understanding of your financial needs and limitations, is not only healthy for your bank account, but also for your mental health. It’s not fun feeling pressured into buying something, or spending when it’s beyond your means, and if you’re not able to express this to a friend, maybe it’s not the right group for you. A recent study shows that 27% of millennials feel uncomfortable saying no to a friend when they can’t afford an activity. And 48% admitted to spending beyond their means to hang out with friends. This is only exacerbated with that fact that we will see everything on social media.

  Not only that, being in financial trouble because of spending on nights out or luxury items, it a lot tabooer (yes, that’s a real word) than admitting to being in student debt or having a housing loan. This can lead to secretism, shame and denial about one’s financial standing. Honesty is always the best policy, even when it comes to voicing out to your friends not wanting to spend beyond your means.

Advertising and Luxury Goods

This one seems obvious but it may not be as obvious as you think. Adverts are almost everywhere, including plastered all over social media. What’s even worse, they’re not adverts for things we don’t particularly want or like- they are specifically tailored for each and every person, based on the videos they’re watching, the content they’re digesting. Product placement is secretly crafted into everything we watch; from product reviews, video sponsors and sneaky product placement, we are always consuming adverts one way or another. Luxury brands in particular are coming up with fresher ways to reach younger audiences, such as TikTok, and it’s working; a recent survey showed that millennials spend $500 on average a month on luxury items, and 51% said they would forgo healthcare in favour of luxury goods. Which, is crazy to me. Where I believe that healthcare is a human right, I know that we don’t live in a perfect eutopia where everyone has free healthcare and education. So, to hear that the majority of the younger population favour brands over health, it really saddens me. This shows that the ads we’re seeing, are working! I also think that more expensive isn’t always better quality, which is what a lot of people forget to remember. Think of all the celebrity products and brands that…aren’t good?! Like all the Kardashian ventures that were a flop, or all the influencers skincare lines, that have been proven scientifically not to be any better for your skin than drugstore brands. It’s always good to be aware of what advertisements are there to do- they are there to SELL. Of course, they’re not going to tell you all the negatives. And at the end of the day…is a designer handbag going to make you feel better if you fall sick, or would that healthcare insurance have been better?

Hauls and  OOTDs

All these trends, particularly the ones on TikTok, I originally thought were harmless, but when I thought about it deeper, I can see that they could be quite toxic and detrimental for one’s relationship with money. For example, the idea of ‘Outfit Of The Day’, suggests that it’s not ok to wear the same outfit twice. Which of course, is ridiculous. Of course people wear their clothes more than once. Studies show that comparing ourselves to the highlight reels we see on social media can lead to feelings of depression and inadequacy, which in turn leads us to spend more on items we don’t particularly want or need, in order to look good for a day- a split second in time!

  I love watching a good haul video, but they are not healthy. Decades ago, fashion had four seasons, and people only had a select few pieces in their wardrobe, that they would mix and match to create new looks and outfits. Flashforward to today, where fast fashion sites have thousands of new products added every day, with fashion seasons being broken down into micro-seasons, adding more pressure for us to buy. A haul video is this concept on steroids, whereby influencers will buy multiple pieces, spending a tonne of money in one go, try them on, on camera, review them, and probably never wear them again. People doing the hauls are often sponsored, or are being paid every time someone shops with their discount code. If we were to do these hauls, we’d just end up spending a tonne of our money, on clothes we probably don’t need, and maybe we’d wear these items a couple of times and that’s it. What a waste of money.

I’m not trying to sound like a Grinch, or a preacher, as I will admit, I do partake in fast fashion and I enjoy watching product reviews online, but I wrote this so that we can be mindful of how our emotions affect our spending; what we see on social media is not fully real, and we don’t need to spend beyond our means to emulate these kinds of habits. I could go on for ages about how unrealistic beauty standards and social media models is a toxic and expensive concept, but maybe that’s for another article. What’s your biggest social media pet peeve?

Live the High-Life on a Budget!

I must admit that when you live in Singapore, and you see all the luxury surrounding you, it’s very difficult to not get sucked into the spending lifestyle; it’s difficult to not go to nice brunch places, restaurants or expensive bars. It’s difficult to not feel the want to buy nice brands. It’s difficult to not want to live it up in Sentosa. I find all this stuff hard to avoid sometimes when I see everyone around me enjoying Singapore as much as possible; especially seen as travel is not an option. So I thought, is there a way to live ‘that life’…without paying for it? Turns out, there’s a few little hacks you can do to live the high-life on a budget!

Opt for Lunch Instead of Dinner

This one is great if you need to take clients out or you have a group of friends that like dining in higher end restaurants. Many restaurants do a set meal for lunch, at a fraction of the cost of dinner prices, and you still get to experience the beautiful ambience and surroundings. Spago, Café Melba, FOC, Artemis and even KOMA all have cheaper set lunch menus.

Save On Luxury Experiences

Staying in the house 24/7 is not good for our mental health, especially when working from home. We need to go out and socialise, but we also can’t spend every night or weekend doing fancy things- our bank account will not thank us. We need to find a happy balance, and one way to do that is by saving on experiences. You can use websites like Fave to book discounted tours, yacht parties, theatre events and more. Buy packages for massages if you plan on going frequently, as it works out cheaper. Not only that, if you like beach clubs, now many of them don’t have a minimum spend, so you can spend your weekend relaxing at a beach club!

Organise Events at Home

I think this is a really great tip whilst we’re in heightened restrictions. I love entertaining at home and spending time at friends’ houses. So why not make the night really special by creating an event, be it a quiz, a game, or even hosting a wine and cheese night? All of these items can be bought way cheaper from a shop, than in a restaurant, bar or pub (I recommend buy from Wine Connection stores or Wines4U on Lazada).

Be Smart with Your Money

Instead of over-spending and maxing out your budget, cut back on areas you can afford to so you have room for more! Make sure that your rental isn’t over 30% of your monthly salary, do a big shop of your groceries instead of a weekly shop (studies have shown that doing bigger bulk grocery shops save you more money than a weekly one). I’ve done plenty of articles of how to manage your budget, eating healthy on a budget and even how to reshuffle you finances, so check them out. But basically, the less you spend on fixed expenses, the more budget you have to work with!

Do Smart Investing

The power of dividends! Did you know that some investments you buy, pay you money quarterly, depending on how well the shares are doing? This is a great way of hitting your short-term money goals with little to no effort. I suggest investments with dividends pay-outs to clients who maybe want a bit extra when they go on holiday (booking flights are crazy expensive right now), to help pay off some unwanted bills or for them to save up for moving. What’s great about dividends is that you don’t have to cash them out if you don’t want- you can leave them in your investment to accumulate money, and cash out when needed.

At the end of the day, the only real way we can live the high-life is to really evaluate our finances and plan correctly, by budgeting, saving and investing. But, using some of these money-saving tips and ideas can really help you save that little bit extra, and still enjoy your free time! What do you do to save?

Why Should Expats Invest In Singapore?

This question often comes up a lot. A lot of expats don’t even know if they can invest in Singapore, let alone if they should. Locals and PRs are automatically enrolled into CPF, which they can use to pay for medical, housing and have money set aside for retirement. Because us expats do not have access to this, I would encourage expats to start setting aside money for these areas; we already know how expensive medical can be (which can be tackled with insurance), and buying property is costly wherever you are, and we all need to set aside for when we retire (the earlier the better!) Investing helps to beat the rising cost of goods and services; you can usually estimate inflation at 2%, so in order to make sure your cash doesn’t lose buying power, you need to beat this rate. With a current account in Singapore gaining interest of 0.05%, you’re actually losing money by keeping it there.

But why invest in Singapore if we’re not from here? I’m going to list a few reasons why expats should invest in Singapore.

Singapore As A Business Hub

Singapore joined the ASEAN Economic Community on the very last day of 2015, and since then investors and business people alike have viewed Singapore as a safe and efficient entry point into South East Asia. Not only is our geographical location very advantageous, our technology and infrastructure is highly advanced in comparison to neighbouring countries. It is the world’s busiest port and a top location for investments in the Asia Pacific region. Singapore is often number 1 in many business surveys:

  • #1 Best business environment in the Asia Pacific and the world: Business Environment Rankings (BER) 2019, The Economist Intelligence Unit
  • #1 in the Asia Pacific and #5 in the world for Best global innovation: Global Innovation Index 2018
  • #1 in achieving human capital (knowledge, skills, and health) in the world: Human Capital Index 2019, World Bank

All these accolades prove that Singapore is a credible and reliable country for people to invest; most of the globe’s largest companies have a base here, and are very successful, so this is a good indication for individuals that this is the place to invest.

Stable Economy

This goes hand in hand with another great reason to invest in Singapore- our economy. Singapore has arguably the World’s most stable economy, with no foreign debt and a consistent positive surplus. As of last year, the Monetary Authority of Singapore owns over US$270 Billion in assets, and Singapore dollars are backed by gold, silver and other assets (unlike other fiat currencies that are no longer backed by gold), meaning that Singapore’s dollar is one of the most stable. The MAS (Monetary Authority of Singapore) regulates foreign exchange rates, keeping it stable.

 This is in great contrast to neighbouring countries’ currencies, like two of the weakest in the world, Vietnamese Dong and Indonesia Rupiah. Internal and external conflicts, civil unrest and clashes, incorrect economic decisions of the government and dependence on raw materials cause further instability.

Imagine going for a coffee one day, it costs $2, the next it costs $10 and the day after it costs $5…does that sound like fun? Of course not- it’s not ideal to invest in a currency that changes on such a regular basis, especially if you want to exchange it into another currency.

For example, trading between Australian Dollars to Great British Pounds, Japanese Yen, US Dollars or Euro is often incredibly volatile (some of the highest volatility in the world), so do you really want to keep losing money every time you convert or transfer?!

Regulations

The government and laws that this country implements, give business people and investors peace of mind when they park their money here; anti-corruption laws are heavily enforced, and the MAS ensures that entities must hold licences to engage in fund management activities. That means that if you invest in something that is regulated by MAS, you have no risk of this company being a cowboy, blowing all your assets of being part of some Ponzi Scheme. So long as they are regulated, you are guaranteed transparency, anti-money laundering and no dodgy dealings. This is a great safety net for first-time investors to know about.

Tax Benefits

Many countries heavily tax investments and overseas residents. Singapore is involved in many tax treaties and avoids double taxation where possible. Capital Gains on investments from financial institutions are not taxed (unlike in countries such as India and Australia) and there are tax reliefs available to foreigners, especially if you’re investing and using things like an SRS account.

Looks Good On PR Application

This point might be very appealing for some; Permanent Residency. For those trying to obtain PR, this can really work in your favour. While the scoring process is shrouded in mystery, we know that financial ties to the country are big bonus points on the application. If you have invested in Singapore, with a financial institution, it shows that you are dedicated to growing your wealth here, and achieving your long-term financial goals in Singapore. Note that it doesn’t have to be a large sum, even if you’re regularly contributing small amounts, this is great too.

Can Be Accessed Anywhere

One of the main questions I hear when I’m planning investments in SG is, “What if I move back to my home country? Will I still be able to access my money?”. The simple answer is yes; whatever money you have invested in Singapore belongs to you, regardless to where you are. Top up or withdraw with ease whilst abroad. This, paired with the strong and stable currency, means that if you move abroad later, you may also see the upside potential to your SGD going further in a different country. Win-win!

I do think that there are many more reasons why investing in Singapore is an excellent idea for expats, but that’s for another day. For more information on SRS, PR Applications and how investments work in Singapore, feel free to contact me using the comment section, or by scanning the QR code below.

How To Have A Healthy Conversation Without Mentioning Covid

We’ve been stuck in this situation now for almost two years (I know, I can’t believe it), and how Covid is affecting the world can be a lot to take sometimes. I definitely get down about how things are, especially because I’m unable to see my family. But then I also feel a huge amount of guilt, because I still have my health, my husband, my job and thankfully all my family are well and safe. I know that many people are not that lucky; those that have lost family members, lost jobs, got covid themselves, stuck abroad etc…so I feel that the pandemic can affect me two-fold; feeling sorry for myself but then feeling worse for others and feeling guilty that I ever felt sorry for myself. (Have I talked about my feelings enough yet?)

Not only has Covid-19 majorly affected peoples’ mental health, it’s affected the way we communicate. Lockdowns meant that we didn’t have many new topics to chat about, most things were online so we lost that personal touch and, arguably the worst thing…we can’t seem to have a conversation without talking about COVID! So, let’s cut the chit-chat and let’s explore ways that we can have healthy conversation without bringing up 2021’s ‘He Who Must Not Be Named’…Covid-19.

Be Open Minded

It’s often difficult to talk to someone you may feel is not on the same page as you or someone who has different opinions to you, but try to be understanding of people’s situations. We all deal with stress differently, so if we all try and take other’s perspectives into account, it can lead to a healthy conversation that is not closed off or filled with animosity. Conversations are there to put us in a good mood; we are social creatures and communication mentally stimulates us. If you’re unsure of what conversation topics to start with, try finding some common ground. Even if it’s just the weather, or discussing an object in a common space, this is a good way to start and allows you both to openly talk and feel more comfortable.

Be Observant and Listen

Everybody wants to feel heard. Everyone appreciates a listening ear and no one really likes to feel like they’re being ignored or talked over. To be an active listener, try to ignore any distractions in the room; talk in a neutral environment; focus on what they are saying, not how you’re going to respond and don’t rush the conversation. Observe the other person’s body-language and facial expressions. This is great if you’re running out of stuff to talk about as well, you can comment on something they’re wearing (nicely) and ask them more about it.

  Practicing good listening also can lead to better, more valuable conversations. You can keep this going by asking open-ended questions, use affirmations to validate the other person when you agree, and always try to show an interest in what the other person is saying.

Change The Topic

When someone else brings up Covid, and you would really rather not talk about it, there are some ways you can steer the conversation away. You can use the topic to ask if anyone has learnt any new hobbies or skills, share your experiences or ask how people are handling working from home. If you’re having this conversation over a video call, take the opportunity to ask for a house tour or ask about things in the zoom, to steer the conversation away from the C word. You can talk about current pop-culture references; we’ve all upped our Netflix intake over this period, so talk about Too Hot To Handle, Squid Game or The Circle…or whatever you’ve been watching!

Here are some conversation starters if you’re getting a bit stuck:

  • Have you learnt any new recipes lately?
  • Are you working on any new projects?
  • How are your family?
  • Have you been reading anything good right now?
  • Where do you normally go for a stroll/bike ride?
  • What have you been doing to wind down in the evening?

I’m sure that one of these will land, and then you can use your other tools to build your conversation from there.

                Honesty Is the Best Policy

If all else fails, don’t be afraid to share how you’re feeling. If you don’t want to talk about the pandemic, you can firmly state that you simply do not wish to discuss it and that you want to talk about other things. This may be necessary if you feel that the other person does not share the same views with you when it comes to the rules, restrictions, vaccines or how the government is handling it. It’s not worth getting into arguments over things that you cannot change, so sometimes it’s best to just…not talk about the topic at all.

I know that all of these things are always easier said than done, but implementing a few of these tools and techniques can improve your conversations and relationships with others around you. Not only that, it can improve your mindset, making you feel calmer and in control of your discussions. I hope this has helped even one person- being mindful about these things, particularly being an active listener, has really helped me over this tough period. Stay safe everyone and we can get through this.

How To Eat Healthy On A Budget In Singapore

So we all know that hawker centres, although cheap, are not the healthiest, and buying ‘free from’ or organic food can be ridiculously expensive. So is there a way to find a happy medium…by making healthier choices but still not overspending? Here are a few top tips I have for you!

Less Rice

When you’re ordering at the cai fan stall (the one where you can pick and choose what you want), ask for less rice, brown rice or no rice at all! That way you don’t overeat processed carbohydrates and you can fill up on healthy stuff, like boiled vegetables or steamed fish. Even if you they don’t give you less rice, you can use the excess rice to soak up the extra sauce and oil! And all this for just a few bucks.

Cook At Home

This is an obvious choice; cooking at home means that you know what you’re putting into your body and the quantities of food you’re using. But sometimes produce can be pretty pricey, especially if you’re ordering your groceries online. But there are ways you can save the pennies when buying your weekly shop;

  Do a bulk-buy of dried food such as beans, lentils, rice and even herbs and spices. Keep track of how much of these you have. These good can keep for a very long time and you normally don’t need huge amounts with every meal, meaning they will last longer!

  Buy your fruit from fruit stalls- it’s way cheaper than the supermarket and often riper and juicier (check out my article ‘Random Money Hacks I Do’, where I talk about buying fruit at night).

  Not only that, you can start buying your meat and vegetables at wet markets; if you go later on in the day, there are often discounts and deals to be had!

  Get protein from non-meat products such as tofu, which is so cheap in Singapore. Top Tip- press the tofu by layering it in between kitchen roll and putting a plate with a heavy weight on top of it. This will squeeze out all the water. Once all the water has been squeezed out, you can marinate it in whatever you like…honey, soy, chilli, you name it! Then all it needs it a quick roast in the oven (or air fryer) and you’ve got a juicy, tasty meatless protein for dinner.

Healthy Cheap Restaurants

If you do want to eat out on a budget but still want to eat something fresh and healthy, there are loads of places you can try! Smol do great tasty grain bowls that are affordable and have vegan options, Green Dot has all veggie bentos there are easy on your wallet, Simply Wrapps has cheap and affordable healthy options and the Soup Spoon have classic and delicious soup and salad at a reasonable price.

So check it out! Explore with your cooking! Venture into the hawker centre! Just because you want to eat healthily, doesn’t mean your relationship with food has to be boring or with a scarcity mentality. Live life and enjoy!

Sex And The City…And Broke!

How Sex And The City Warped Women’s Relationship With Money

Samantha…Charlotte…Miranda…Carrie…we all had a favourite. But I think it’s safe to say that a lot of the episodes have not aged well (think of those episodes with Samantha dating a woman, or someone of a different race and how that was tackled…yikes!), but the point that sticks out to me the most is how toxic most of the character’s relationship is with money, particularly Carrie’s. So here is my deep-dive into this sticky topic of this show’s glorification of bad money habits.

Carrie’s Unrealistic Salary

This one really irks me. In the show, especially at the beginning, Carrie is a columnist who hasn’t really hit the peak of her career yet; she lives in a beautiful apartment in Manhattan, wears designer clothes, brunches and buys designer shoes on a regular basis. This is in no sense realistic for a woman on a freelance journalist’s salary. For people watching in the 90’s, it painted an improbable picture for those wanting to go in a creative line of work. Sex and the City was debuted in 1998. It was reported that females in the US that year were earning $591 per week (US Dept. of Labour). After taxes, that’s not much over $30,000…doesn’t really sound enough to live on in central NY. Not only that, most freelancers I know have more than one stream of income. I find it very hard to believe that Carrie only had one stream of income of only a few hundred bucks per article…

Carrie’s Problem with Spending

“I like my money right where I can see it- hanging in my closet.” Oh Carrie, what a terrible mindset to have. And it wasn’t hidden in the show that Carrie, and the rest of the girls for that matter, had a spending problem, and didn’t really care when it came to saving her money. This was definitely a major plot hole throughout the show, especially after dissecting Carrie’s salary above. How did Carrie manage to brunch with the girls on a weekly basis, order takeout all the time (it was a weird point the show was trying to make, that working women should focus on their career and needn’t bother learning to cook), take taxis everywhere (erm hello! Cabs in NY are so expensive and inconvenient!), go to cool and exclusive clubs in the city and buy all the clothes she wanted on that low-income salary?! It is baffling to me that the show continued for as long as it did without ever getting pulled up on this massive flaw.

Carrie’s Credit Card Issues

Uh oh, this is how Carrie spent so much, she had massive credit card bills. An article was published in 2016 by The Financial Diet (which, by the way, I highly recommend, I love their articles and videos), that calculated Carrie Bradshaw spent about $3,600 a month on non-essential expenses. This is astounding for someone earning $2,364 a month! Leaving Miss Bradshaw in a deficit of $1,236 per month! No wonder she had to take out credit cards to fund her lifestyle! Don’t get me wrong, credit cards are not a bad thing and definitely can be used in a financially healthy lifestyle, but only if you can pay off the bill before accruing any interest. This responsible usage of credit cards is not portrayed in Sex and the City. The show taught viewers to be reckless with their credit card spending, because at least you can buy the things you want. In one episode, Carrie is declined a bank loan because of her financial track record. She admits that she paid off over $40,000 in credit card loans- oh my. Credit card debt is mentioned a few times in the show but it’s definitely just brushed off as a bit of a joke. Also can we just remember when Carrie was left $1,000 on the nightstand because the guy thought she was an escort and she uses that money to pay off a bill! Which brings me onto my next topic..

The Girls’ Relationship with Money and Men

For me, this is the most problematic message that the show portrayed. Throughout the show, the girls express the need for finding a rich, affluent man, to where it’s pretty much a goal for them. Take Charlotte for example, her quest for love was always paired with a pursuit of finding a wealthy husband. When she finally divorces her 1st husband Trey, he left her a very expensive apartment and a ring worth a few tens of thousands of dollars, so that she can still live comfortably. Interesting to note that she sells this ring to pay for Carrie’s house deposit, just as an aside. But it perpetuated the very dangerous and abysmal message that women will always need men to provide for them financially, because women simply cannot plan their finances by themselves. Another example of this is when Carrie lets her boyfriend Aiden buy her apartment (???) and then approaches another ex to pay for her down-payment?! The whole thing is farcical and a bit psychotic if you ask me. And this is a theme throughout the show, where Miranda seems to be the only woman who doesn’t really care how much her husband is earning or expecting him to pay for her. All the other girls crave a man buying them things and spoiling them. Even less-problematic scenes perpetuate this, like Carrie walking into the walk-in closet Big made for her and there’s a pair of shoes waiting for her, or when Samantha continues to date that guy in his 70s, just because he’s wealthy.

Glorifying Frivolous Lifestyles

While I do enjoy the show and think it is great for easy viewing, it’s mindful to note that this show glorifies living beyond your means. The girls are obsessed with brands and labels, and will happily spend a few thousand on a Birkin, even though they definitely cannot afford it. The show insinuates that looking the part is much better than actually being the part, and if you want to make it in the Big City, you got to spend the dough. Its light-hearted outlook on very serious matters such as debt, not having savings and relying on others for money, downplays the harsh reality of how detrimental these money mistakes can be. Not only that, it encourages women in their early to mid-30s to spend all their paycheque on fancy bars and dining, instead of setting some money aside for the future. Not only that, the picture it paints of living in an expensive city is definitely through rose-tinted glasses, and we should be mindful that city life may not always be as fun as the show portrays.

I know this is an old show but those watching (i.e., me) are now adults trying to build their careers and be smart with their finances, and shows like Sex and the City, Emily in Paris and 90210 do not portray sensible spending habits. I’m not bashing these shows, or telling you to avoid them, just merely pointing out their flaws and how to look at them objectively.

Make Your Money Green As Well As Your Lifestyle!

I think it’s safe to say that a lot of people are concerned about climate change; over the past few years we’ve seen very obvious and drastic changes to our ecosystems that it almost too blatant to ignore…flooding, wildfires, mass extinctions…all of these have a negative impact on our environment.

Many of us try to do our part (recycling, using less plastic, swapping disposable for reusable), but what about our money? Money is green in colour, but is it by nature? If you have read my previous articles about cryptocurrency, you know that I am a bit apprehensive of investing in this type of asset because of the environmental implications. According to Digiconomist, a single Bitcoin transaction has, on average, a carbon footprint of 549.74 kgCO2 – the equivalent to 91,624 hours of watching YouTube. And of course, people are also concerned with industries such as gas, coal and oil, and would prefer not to invest their money in these kinds of industries.

 Companies themselves seem to be moving further away from unsustainable processes. Singapore was the first South-East Asian country to introduce carbon tax in 2019. The country has plans to increase the levy at faster rates, to tackle Singapore’s growing concern with climate change.

“We think it’s necessary so as to put the right incentive for industries and for companies to look at the way they’re making things and the way they’re producing things,”, Grace Fu, Minister for Sustainability and the Environment, commented.

This is all great news, and is an exciting future for Singapore on its journey to become greener. Companies and industries are sure to follow suit, so how can we ensure that our money and investments do so also, whilst still maintaining a positive portfolio?

The first thing you can do is invest in green power investments; there are plenty of industries utilising wind power, hydro power and even solar power, which you can invest in. Water energy seems to be the go-to for sustainability, so why not invest in energy producers with notable hydropower in their portfolios, such as PG&E and Brookfield Renewable Partners. Today, projects such as China’s massive Three Gorges Dam can supply electricity to between 70 million and 80 million households. According to the International Renewable Energy Agency (IRENA), hydropower is the most cost-efficient means of generating electricity, so this is a lucrative and exciting tech to invest in. China is also the leader in wind energy right now, so if this kind of renewable energy interests you, check out General Electric or Vestas Wind Systems.

Prevention is also key when moving forward to create a greener world, so you may want to look at companies in waste management, green transportation or even pollution controls. These companies aim to minimise the affect humans’ inevitable impact have on the environment, and are going to be around for a long time. We are always looking for new ways to minimise our carbon footprint, be it minimising car emissions, reducing greenhouse gas emissions from power plants or improving recycling facilities.

So We Should Stop Investing In Oil And Gas?

This is not a black and white topic, there are many things to take note of with oil and gas industries. While oil and gas is not sustainable, environmental policies, like the tax I mentioned before, it has pushed large oil and gas companies to move further in this direction. Many investment managers prioritise green funds, causing oil and gas companies to improve their business models to be greener. Look at their business models, it is easy to see that some are greener than others. In fact, several large oil companies are among the global leaders in promoting a tax on greenhouse gases and investing in energy sources that will help the world transition away from oil. Choosing the firms with the best environmental records and practices is another way of looking at green investments.

I’m not the biggest expert when it comes to green energy, but I would like to think that I am doing my part for the environment. It’s very simple to make small changes in your portfolio to make it greener, and I wouldn’t even rush to withdraw anything in oil and gas, and these companies offer sustainable investment returns, and are improving their business models to be more environmentally friendly.

How To Staycay On A Budget!

Even though the lockdown rules have eased a bit here in Singapore, it still looks like we won’t be able to travel out the country for a while. So why not go on a staycation! There are loads of options here in Singapore, so if you want to plan a staycay that isn’t going to break the bank…this is the right article for you! Here are 5 top tips to plan a Staycay on a Budget!

  1. Determine Your Budget

You can’t work around a budget if you don’t have a budget, right? But how much should you set aside for your staycation? Well, for those that read by budgeting articles before, you will already know that you shouldn’t spend more than 30% of your monthly income on your ‘wants’ (going out, drinks, food, hobbies etc.). So work with this figure- if you are planning on splurging out on your staycation, you may have to tighten the rest of the things you do for that month. If you want to calculate a figure, a quarter of this 30% should be your max. That way, you still have cash left over for the rest of the month.

2. Pick Off-Peak Times

Once you’ve determined your budget, it’s time to maximise your budget as much as possible. Try not to pick your staycation on expensive dates, such as National Day, CNY, Hari Raya etc. Pick off-peak timings. Not only will this be cheaper for you, but it will also be easier when booking, as public holidays sell out fast! If you can book during the week instead of the weekend, due to your schedule- then even better for you!

3. Plan Free Activities

Depending on where you’re staying in Singapore, you can find lots of different free things to do! Say for example you’re staying at Marina Bay Sands, you can walk around Gardens By The Bay for free, check out The Buddha Tooth Relic Temple or walk round Henderson Waves!

 If you’re staying in Sentosa, there’s a tonne of fun, cheap or even free stuff to do! Have a picnic on the beach, check out the Sentosa Trails or explore the Southernmost Tip of Asia!

4. BYOB

Everyone knows that alcoholic drinks are really expensive in Singapore. I almost can’t wait to visit the UK just so I can order a glass of wine that doesn’t break the bank! So, instead of splurging at MBS or the Fullerton, why not bring your own bottles? Last time I stayed at Marina Bay Sands; I brought my own bottle of red wine to enjoy in the room.

5. Make The Most Of The Facilities

This may not seem like a budgeting tip per say, but, hear me out. If you don’t have a pool at your place, or a gym, or a sauna, make the most of it! It’s included in your staycation, so you may as well use it while you can, especially if you normally have to pay for gym or pool access when you’re not on staycay! Not only that, if you can get a hotel that has breakfast included, make sure you don’t miss it! That’s one more meal out you don’t have to pay for.

I hope these tips show that you can plan a successful staycation without having to spends lots of going out, meals, drinks and activities. I’m not saying don’t spend at all! But there are definitely ways to cut costs…enjoy and stay safe!

Project Dignity Giveaway!

I wanted to use my latest article to give a shoutout to Project Dignity (https://projectdignity.sg/). Project Dignity is a collective that is on a mission to give dignity to those disadvantaged and differently-able, by providing them with opportunities to work and a chance to help them find their vocation and passion.

Project Dignity provide sponsored training for unemployed adults with special needs and place them with their employment partners within the F&B, hospitality and retail sectors. They want every person who walks out of their outlets to project a sense of dignity through earning an honest living. They are empowered with skills, employment and most of all, the opportunity to be a productive member of society.

They currently have four ventures; Dignity Kitchen, Dignity Learn, Dignity Mama and Dignity Outreach.

Dignity Kitchen is an air-conditioned food court as well as food delivery service. Currently situated in Serangoon, the 7 stalls are manned by the differently-abled and disadvantaged. Lunch treats for the elderly from nursing homes are provided by this programme across Singapore every day.

Dignity Learn, an inclusive training centre, provides hawker culinary courses for the public. They also run a 22-day Train-and-Place programme for adults with special needs seeking employment. 

Dignity Outreach combines team bonding with impact, offering corporate entities an avenue to engage achieving team building objectives whilst giving back to the community. At the same time, it accelerates Project Dignity’s goal of social inclusion and integration with marginalised peoples. 

Dignity Mama stores are retail book stores selling upcycled and preowned books. They are located in local hospitals and are managed by caregivers together with young adults with special needs. 

This is not a charity- it is a social enterprise; a social business with clear goals in helping disadvantaged people get the skills they desire. I feel that this company is really admirable, as they are trying to break many stigmas here in Singapore, and instead of separation, promote integration. That’s why this month I am doing a giveaway for vouchers to Dignity Kitchen on 69 Boon Keng Road.

To participate, follow these instructions:

  1. Read this article
  2. Visit my Instagram @danniteboul
  3. Like my Giveaway post
  4. Tag a friend and mention which of the 4 ventures you like the most
  5. Multiple tag/comments gives you multiple entries!

There will be 4 prizes!

Winner: $40 Vouchers

2nd Prize: $30 Vouchers

3rd Prize: $20 Vouchers

4th Prize: $10 Voucher

I am so happy to be supporting this cause and I hope you will all be as equally happy. Have fun participating in my giveaway!

(Please note you must be in Singapore to participate)