The New Savvy - Stay Empowered; Be Financially Savvy
The New Savvy is the definitive financial and career guide for women. The New Savvy aims to empower smart, modern and independent women through meaningful content that are relevant, practical and interesting.
21 JUNE 2018, 7.00 pm
FELOSOPHIE STUDIO 5 Leung I Fong, Sai Ying Pung, Hong Kong
We all know the importance of mindfulness when taking care of our personal wellbeing in the fast paced lives that we lead. Whilst this is frequently applied to the way that we eat, exercise and interact with others, we often forget the impact that our finances can have on our wellness when this part of our lives is not in harmony.
Being aware of how a healthy relationship with your finances can transform many other areas of your life is critical and by taking simple steps to address any financial concerns you might have, this is the cornerstone for finding fulfilment in all aspects of your wellbeing.
Whether you have started to invest and want more information on what to do next or you are just starting to plan small financial goals, join us to find out more about how you can take steps to enhance your personal finances and achieve financial happiness.
The New Savvy is Asia’s leading financial, investments and career platform for women. We empower women to make smarter financial decisions and help you transform your relationship with money and supercharge your career. Be part of a growing community taking control and supporting others in their journey towards financial independence.
During this insightful event in collaboration with FeloSophie, we will hear from women from a variety of backgrounds and industries who, just like you, chose to make a difference, implement change in their every day routines and never looked back.
We are here to empower you to reach your true potential and implement practical steps to achieve your goals and career aspirations without sacrificing your personal financial wellness. It does not matter what stage you are at. You can implement the tools to thrive both personally and professionally.
SPEAKERS: Tricia Yap – Warrior Academy and Goji Studios
Tricia Yap is the Co-Founder of Warrior Academy and Director of Fitness of Goji Studios. She is recognized as one of the most accomplished health and fitness experts in Hong Kong and featured on TimeOut, CNN and Bloomberg, amongst others since her first venture, Bikini Fit – an all female only health and wellness community.
Tricia is known for her philosophy of encouraging a holistic and balanced mindset towards lifestyle, nutrition and training, as well as her expertise on women’s wellness. She is a writer and speaker on entrepreneurship, health and wellness with experience in Tedx, The Women’s Foundation, CanChamHK, General Assembly, HKMBA UST, schools and more. She was also HK’s first professional female MMA fighter and had a lead coaching role in ViuTV’s most watched MMA reality tv program – G1 Fight Club. Tricia previously worked at PricewaterhouseCoopers (PwC) in Sydney and Hong Kong. She holds a double Bachelors in Commerce and Science with majors in Finance, Accounting and Computer Science from the University of Sydney. She is currently completing her Functional Medicine Health Coach qualification.
Olive Lee – Felosophie
Olive, Founder and CEO of feloSOPHIE, lives in Hong Kong with her husband Thomas and her new-born baby Isabel.
She previously worked at big four accounting firms in Hong Kong and Toronto where she learned the language of global business. Throughout her tenure at corporations, she witnessed incidences where women’s voices were not heard equally and often times women unintentionally held themselves back from opportunities
During Summer 2016, Olive decided to quit her stable finance job for an unpredictable journey as an entrepreneur and co-founded She Collective HK, Hong Kong’s first online curated activewear store, with her childhood friend for women to discover themselves through fitness.
Olive is passionate about female empowerment, and changing the way women perceive themselves. She believes girls are stronger together and would like to encourage all women to feel comfortable under their own skin by living their own female philosophy. Therefore feloSOPHIE, an online community that connects, inspires and empowers women from different walks of life, was born out of her dream to continue the spirit of She Collective HK and reflect her values of caring for women empowerment and local communities.
Hellena Wang – Ambassador, The Busy Woman Project
Hellena Wang is an Ambassador for The Busy Woman Project based in Hong Kong. “I’d like to give women and men the self-belief that anything is possible. It would mean the world if I can remove hesitation through knowledge, coaching, or simply by bringing fun!”
Hellena is passionate. She is an indigenous and Chinese mixed Australian who calls Hong Kong home. Her family is her rock and their ambitions inspire her to be better every day. Personally, she is naturally curious and is always driven by the desire for self-improvement. It is the reason why she love to bio-hack! Her previous experience includes management consulting with Deloitte Touche Tohmatsu and healthcare volunteer work in HIV.
Sarah Lee – Sweet Secrets
Sarah Lee founded Sweet Secrets in 1999. She absolutely loves cakes and desserts and feels so blessed to be in a business that fulfils her passion. Sarah’s fondest childhood memories are of spending magical moments in the kitchen with her mother baking, cooking and creating delicious treats for the family.
Though she has never received any formal baking or cake decorative training, she has a natural flair for taste and creativity to develop all the recipes that Sweet Secrets now offers. Her desire has evolved from delivering the most delicious and beautiful cake to now offering cakes and sharing with her customers how one can be mindful about our health. ‘Dessert and Health’ do not traditionally go hand-in-hand, at least that is what the general public believes. Yet once again, Sarah sets out to make this dream a reality – desserts that nourish the mind, body and spirit!
Because of her inspired passion, hundreds of thousands of people have enjoyed Sweet Secrets’ creations, desserts and treats, even people with various food intolerances, vegetarian or vegan who would otherwise miss out on their birthday cake.
Natalie Pringle – The New Savvy Chief Marketing Officer & Hong Kong Lead
Natalie is the CMO & Hong Kong Chief Ambassador of The New Savvy.
She relocated to Hong Kong from London in 2015 to establish the International division of a rapidly expanding Real Estate company which perfectly combined her interests in property, investment and growing new businesses.
With a degree in Law and a love for public speaking, she has always been focused on developing her knowledge and understanding of business as well as supporting and empowering those around her to push the boundaries of their capabilities and to become their best selves.
Yasmine Khater, Co-founder and Strategy Lead at VSStory, wanted to learn how to start investing to build a strategy for her financial portfolio.
For Yasmine, a diverse financial portfolio “represents freedom, flexibility, and security; all of which impact the possibility of doing and being whoever I want to be without having to worry about money”.
Ever since the #SavvyUpTogether kick-off, she has expanded her knowledge in the world of trading. Therefore, when The New Savvy team invited her to try out IG Asia’s newest trading platform; it was an offer she simply can’t refuse.
IG Asia is a world-leading online trading and investments provider. It aims to give you access to opportunities across thousands of financial markets through intuitive platforms and apps. IG Asia recently launched its revamped trading platform giving clients a better trading experience making it easy for all to start trading.
The new platform offers potential customers the chance to try a demo account with $200,000 free trading credits. If you are interested in testing it out yourself, head over to the website to start trading (no risks, of course!).
Yasmine shares with us, her own experience and what she liked and disliked in the platform.
The New Savvy (TNS): Why did you decide to participate and take part in using the IG platform?
Yasmine: My personal investment strategy has changed tremendously thanks to #SavvyUpTogether. I started reading a lot on various websites last year and started to make sure that I was working on getting my basics (emergency fund, health insurance, retirements savings, and investments) covered.
However, the reason I decided to try out the new platform is that I was curious to know the difference it had with my current existing trading platforms.
I was curious to experience a new platform and compare it to my existing platforms.
The New Savvy (TNS): Have you ever tried trading before?
Yasmine: I have been trading for just over a year, and started with SG markets and now expanding into US and Australia.
I come from an Arab family where a lot of wealth building is around buying real estate. With real estate being so expensive and so liquid in nature, my interest has been in learning more about REITs, ETF, stocks and a small portion of cryptocurrencies.
The New Savvy (TNS): Before this, have you heard of the IG Asia before?
Yasmine: I’ve only heard about IG Asia on certain forum websites. So instead of relying on reviews from the internet, I wanted to test the platform myself.
The New Savvy (TNS): If you look at the platform, what kind of questions do you expect?
Yasmine: Price of the transaction, reliability
The New Savvy (TNS): Are you using other online trading platforms?
Yasmine: I currently use fundsupermart and Vickers.
The New Savvy (TNS): If so, what is the difference between the platforms?
Yasmine: I like how IG Asia has the drag and drop option, which makes it stand out from the rest of its competitors due to ease of accessibility and navigation.
The New Savvy (TNS): Was it easy to navigate through IG’s online portal? What did you like about it?
Yasmine: I have to admit that at first, it wasn’t easy to figure out. Especially since it’s not what I am used to. But I’ve since been able to enjoy the newest features and work it to my own advantage.
The New Savvy (TNS): Which markets are you currently looking at? Why so?
Yasmine: I am currently familiarising myself with the Singapore, Australia and United States markets. I started off in Singapore as its local territory and easier to understand and view the products. Subsequently, I explored the Australia and US markets and the availability of good technologies there.
The New Savvy (TNS): What have you learned from using the platform after one week?
Yasmine: I think the onboarding on how to use the platform should be better, right now it is a bit clunky.
The New Savvy (TNS): If you had any feedback or inquiries about the platform, did you try contacting the customer service helpline?
Yasmine: I did not reach out to customer experience, as I simply did not feel the need to do so. I merely tried out the platform by exploring it myself and eventually learned how to navigate through it.
Yasmine will continue to trade on IG Asia for the months to come. Stay tuned to hear more about her experience!
About Yasmine Khater
About IG Asia
A business and marketing strategist, psychologist, and TEDx speaker, it comes as no surprise that Yasmine Khater was named one of Cosmopolitan Magazine’s “Fun Fearless Females” and won the “World of Difference Award” from the International Alliance of Women
She now works as Strategy lead at VSStory, a company she co-founded to help visionary companies or “empire builders” get more visibility by crafting compelling stories to inspire both employees and customers.
Founded in 1974 as the first company of their kind, IG Asia has been at the forefront of the industry ever since. They serve clients all over the world, from sales offices in 15 countries.
More traders trust IG Asia with their money than anywhere else, making them the world’s No.1 CFD provider1. IG Asia is licensed by the Monetary Authority of Singapore (MAS) and Enterprise Singapore
This article was sponsored by IG, the world’s No.1 CFD provider (by revenue excluding FX, February 2018). All views, opinions, and recommendations expressed in the article are the independent opinion of The New Savvy and do not in any way reflect the views, opinions, endorsements or recommendations, of IG Asia Pte Ltd (Co. Reg. No. 20051002K) (“IG”). Information is for educational purposes only and does not constitute any form of investment advice nor an offer or solicitation to invest in any financial instrument. IG provides an execution-only service. The information provided in the article does not take into account the specific investment objectives, financial situation, or particular needs of any person. Where in doubt, you should seek advice from an independent financial adviser separately regarding the suitability of the investment, under a separate engagement, as you deem fit. No responsibility is accepted by IG for any loss or damage arising in any way (including due to negligence) from anyone acting or refraining from acting as a result of this information or material. All forms of investments carry risks and may not be suitable for everyone and can result in losses that exceed deposits. Please ensure that you fully understand the risks and costs associated with trading CFDs.
I am a mother to an 18 month old baby girl, whom I adore and am very grateful for. I am also obsessed with pretty things!
D: How did you get the idea or concept for your business?
I’ve always wanted to be an entrepreneur so I zoomed into my interest, Flowers. Then I went to work part time at Shop Wonderland and realised I really loved arranging flowers! At that time, there were only a few florists offering the style I liked so I went to pursue a floral arrangement course in New York. While I was there, I was greatly inspired by all the top florists and the floral shops. Through the experience, I also found my style.
D: What is your vision/mission for your company?
We want to inspire people to live beautifully through flowers. We hope that people will incorporate flowers into their everyday living.
D: How did you start it? What were some adversities you faced when starting it?
I started Pastel Hues Design in the comfort of my home. It is still a home-based business today.
Some adversities I’ve faced: I started the business alone and did everything myself. My husband helped me with logistics but it was tough to cope with orders myself. Especially during peak season. From taking orders, ordering the flowers, conditioning it, arranging it, writing the messages, wrapping the flowers…It was tough, and, on top of it, I was a new mother. I had to balance work and family.
D: What is something we might not know about the industry you’re in?
Beyond all the beautiful work we produce, there is a lot of hard work involved. You’ll need strength and stamina. There is a lot of cleaning to be done too. You should see the mess when we condition the flowers. During wedding seasons or Valentine’s Day, there is practically no sleep. I’ve worked 24 hours without sleep and survived on a few slices of gardenia bread the entire day. No time to eat or even go to the bathroom. Haha!
D: What has been the most memorable experience for you so far in running your business?
I get to be part of planning surprises! I work with husbands/boyfriends in planning surprises for their loves. It’s amazing to see how much effort and love they pour into getting the right bouquet. Men these days do know about flowers. At the end of the day, some of them do send me a picture of how happy their wives/girlfriends are with their flowers. It’s priceless to me.
D: How do you define success? Who do you see as successful?
Success in business is when you have established your brand; people recognise your product/service. You have built a team that is able to run the business while you oversee.
I see Priscilla of Ong Shunmugam as a successful entrepreneur. I also see Melissa Wang of ShopWonderland as a successful entrepreneur. Melissa has taught me and inspired me in floral design.
D: Which habits of yours have gotten you to where you are today?
To be organised and set weekly, monthly, quarterly goals. Once you’ve set your goals, you have something to work towards and achieve it.
D: What is one thing you would like your customers to know about your company?
Every floral arrangement that goes out of our doors have been artfully arranged and carefully thought for the receiver. We don’t like to replicate designs.
D: If you could give advice to fellow and budding entrepreneurs, what would it be?
“Find something in life that you love doing. If you make a lot of money, that’s a bonus, and if you don’t, you still won’t hate going to work.”
Singapore has been acknowledged as one of the most progressive nations in Asia Pacific in terms of gender parity in the workforce by the McKinsey Global Institute (MGI). The report revealed that Singapore scored a Gender Parity Score (GPS) of 0.68; well above the Asia Pacific region which got a 0.44.
To top it off, Singapore reshuffled its Cabinet last month and saw three female ministers for the first time – with two of them helming ministries of their own.
Yet, at The Dream Collective, we have observed that despite the progress made, a vast majority of women struggle to get through the mid-career marathon and fall off the corporate ladder prematurely.
Source: Bain and Company
Did you know? In comparison to men, women begin their careers with greater aspirations to reach top management. However, their confidence and aspirations see a drastic dip by the mid-career point – when they’re on the cusp of leadership positions.
And it was just in October last year that Yumiko Murakami, the head of the Organisation for Economic Co-operation and Development (OECD) Tokyo Centre, highlighted the “near complete absence of women in senior leadership positions in business and politics” because women who would have reached executive levels by now have nearly all left the workforce.
You might be tempted to attribute this exodus to women’s biological need and desire to raise a family, and if so, perhaps you are contributing to this unfortunate state of affairs.
A woman’s touch
Why though, does this matter?
MSCI ESG, an independent provider of research-driven insights and tools for institutional investors, noted that “groups with more diverse compositions tended to be more innovative and make better decisions”. Conversely, the report also revealed that companies which lack board diversity “suffered more governance-related controversies than average”.
So what is causing these high caliber young women to exit the workforce?
Image source: The Dream Collective
Lack of support from companies and line directors
While progress has been made, surprisingly, Singapore was ranked one of the lowest in Asia Pacific in terms of female representation on corporate boards – according to a study on diversity in the boardrooms.
One of the main reasons identified by the study was the lack of targets or diversity requirements.
Corporate leaders may have spoken out against implementing a system because of various concerns but I believe that a shock to the system is just what we need. Let’s not forget that we’re challenging generations of societal conditioning and if we want to induce such seismic change in attitudes, this is the catalyst we need to galvanise us into taking action.
To put things into perspective, the World Economic Forum’s 2017 gender gap report estimates that the overall global gender gap can be closed in 161 years in the East Asia and Pacific region.
But I believe we can achieve this in half the time by making a systemic change.
That said, a top-down approach does not ascertain success in gender equality in the workplace. Based on feedback and data collected from over 1,500 women from The Dream Collective alumnus in Australia, Japan and Singapore, it has been shown that it is crucial for immediate line directors and managers to buy into the ideal for real change to be effected.
Certain assumptions of women’s role in the home, which is entrenched in the patriarchal values of our society, affects the presumed ability of women to assume leadership roles. For example, in qualifying candidates for a leadership role, an implicit assessment of the level of commitment expected of a woman and a man differs based on the assumption that women would no sooner leave the workforce in pursuit of a happy family.
Such bias inherently affects the opportunities presented to women, thus limiting their ascent and aggravating their frustrations which ultimately ends up enabling the female exodus at the mid-career point.
In short, the phenomenon becomes a vicious circle. A self-fulfilling prophecy.
The old boys’ club
By the same token, with a largely homogeneous leadership – largely men with shared experiences such as National Service or education, they form a tight-knit and insular culture that can actually be an artificial barrier to entry for women seeking to ascend to the top.
Their shared values and beliefs also impact the assessment of female candidates who so aspire to join the old boys’ club.
Many members of The Dream Collective reported feeling out-of-place or left out among their male counterparts which inevitably affected their confidence to join the ranks of leadership.
Image source: The Dream Collective
According to a report by the World Economic Forum (WEF), of the hundreds of chief human resource officers from more than 350 leading companies that were interviewed, 39 per cent of the respondents pointed to a lack of female role models as a barrier to hiring and promoting women.
Indeed, without a shining beacon to blaze a trail for the promising young talents who come after her, it’s hard for a woman in the workforce to perceive her dream of achieving a spot in the top management as a possible reality.
Without enough representation to provide a voice for women and help pave the way to a better future, how can we hope to turn things around?
That said, it’s not a secret that women are often their own worst enemies.
Dubbed the “queen bee syndrome” in the 1970s by the researchers from University of Michigan, this theory speaks of women in the top management having a negative impact on and impeding the progress of other women trying to make it to the top.
A Singapore daily broadsheet reported that “women are also harder on others of their sex” because they “tend to have a ‘I did it the hard way; you should too’ mindset when it comes to helping other women in their career path”.
In order to excel in the workplace, it is imperative to have a support system to help one navigate through the challenges at work. And it’s not just about having emotional support, but also to tackle systemic or institutional problems that an employee alone may not have the capacity or power to face.
Image source: The Dream Collective
Therefore, it is of utmost importance to have women at the top rungs of the ladder because their shared experience allows them to empathise better. It also provides them with the insight to more effectively mentor and guide other women through their unique career trajectory.
By extension, it is time to recognise that it’s not a zero-sum game because one woman’s ascent to the top doesn’t hinder the progress of others. In fact, with more women at the top brass working together, it actually creates better working conditions and a more conducive environment for young brilliant women to rise.
If the network and support grows bigger and stronger, we will also be able to effect change faster and more effectively because their shared experience unites them and motivates them to help each other.
Why change matters
Aside from improving performance-related results, particularly those pertaining to creativity and innovation, the very same gender gap report by WEF estimates that economic gender parity could add an additional US$250 billion to the gross domestic product (GDP) of the United Kingdom, US$1,750 billion to that of the United States and US$550 billion to Japan’s. For Singapore, it could add US$20 billion to Singapore’s GDP by 2025.
If we hope to rectify the lack of gender diversity, a collective effort is required as well as a deeper understanding of the forces behind it and the lack of opportunities that greatly discourage a woman from pursuing her career ambitions.
Image source: The Dream Collective
Everyday that we wait to act on it only increases the time needed to bridge the gender gap. Already, it stands at 161 years. At 161 years, it’s not just your wives, or your daughters or your granddaughters who will be affected but it will be generations of women to come.
Progress has been made but let’s not rest on our laurels. Let’s not forget that what we have achieved today is the product of the efforts by the women who came before us.
Role models have a consequential influence on confidence and resource-building as women chart their rise up the corporate ladder. It has never been more necessary for there to be a strong, intimate network of mentors comprising leading female corporate executives. More importantly, an international network allows opportunities for wider growth, expansion of transferable skill-sets and a broadening of horizons.
Networking opportunities with peers and industry leaders across continents will provide a platform for authentic discussions on career planning, overcoming challenges and driving career breakthroughs.
If your SME is very successful, you may have considered expanding internationally. To make that dream a reality, you must conduct thorough research and develop a sound business plan. This can be a difficult task. Here, we describe a number of crucial factors that you must consider as you plan to grow your business globally.
Evaluate the Feasibility of Entering and Succeeding in Different Markets
There are a number of ways to evaluate the market that you plan to enter. First, it is helpful consider the size of the market as a whole. Of course, GDP is an easy measure for the market size of an entire nation. Depending on your product you may want to consider the population density of a given city, or internet accessibility nationwide.
However, there are important nuances that you must consider before entering a new market. For example, you will want to identify if the major players in your industry have market dominance. Is your target market already dominated by a few businesses or crowded by many companies competing for market share? If either is true, you must be able to justify why you will have a competitive edge against the local players.
Do You Have Sufficient Financial Resources for Expansion?
Once you have an idea of the market that you want to enter, it is essential to consider expansion costs. These costs can include office rent, transportation, equipment, office supplies and professional services (legal, marketing, recruiting, etc.). If your business has enough profits and savings to meet its expansion costs, then it can pay for the expansion itself. If not, your business should consider other financing options like taking out a loan or receiving investments.
Operating Cost Can Vary Depending on Local Conditions
Expanding a business to a new country presents new operating costs. First, you must include the corporate income tax into your cost projections. It is also important to understand any national or local sales and VAT taxes as these will affect the ultimate price that your customers pay for your product.
Additionally, you must consider the cost-of-living in a new city. This will affect how much your employees expect to be paid. Real estate prices may also be relevant if you plan to buy or rent real estate for your business’s new location.
Finally, you should have an understanding of borrowing costs. This is especially important if you plan to borrow in the country to which you plan to expand. To get a get an idea of how this will affect your costs, research interest rates for various loan types that might be relevant to your business.
How Will You Staff Your New Operation?
If your expansion will require hiring new employees in a different country, you will want to ensure that you are able to find qualified candidates. There are a number of ways to do this. Most importantly, you have to first find the manager who can help you build and scale the operation in the new country. The best candidates will likely arise internally or through your network, though it could also be helpful to contact a professional recruiter in your prospective market to discuss the availability of talent. Finding someone who is fluent in both language and the culture of the local market is crucial in helping you communicate with clients, suppliers, and government officials in the country.
Conduct a Thorough Due Diligence on the Local Legal Requirements
Before rushing into international expansion, it is prudent to make sure that you understand the laws for businesses in the country of which you plan to expand. It may be helpful to hire a lawyer that can thoroughly examine the tax and registration laws as well as compliance requirements for international businesses. It is imperative to fully understand the legal environment and plan for any associated costs before making plans to to expand. After all, you don’t want to spend hundreds of thousands of dollars over 6 months just to find out you can’t sell any of your products for another 6-12 months.
While Singapore is known to have enough golf clubs to satisfy everyone from the beginner to the professional, some of the world’s best golf destinations are located only a short plane ride away—giving you a great reason to venture out on your next vacation and explore what some of the neighbouring countries have to offer. However, golf vacations can get quite costly due to high green fees and expensive accommodations. Below, we explore some of the best ways you can enjoy your next golf trip while saving some cash in the process.
Cost of top golf resorts in Asia-Pacific
For around the price of a weekend at an expensive golf course in Singapore, you can grab a cheap round-trip flight to an ASEAN destination and spend a weekend playing golf in Thailand or Indonesia. While playing Singapore’s Serapong Sentosa Golf Club can set you back almost S$900 for two days, you can get a round-trip flight, hotel accommodations and a round of golf in Thailand or Vietnam for around S$950. This price can drop even more if you book your trip during the middle of the week or find a great package. For example, the Black Mountain Golf Resort in Hua Hin, Thailand has a promotion for a pool villa and green fees for around S$167 per night per person, which results in savings of up to 30% compared to playing in one of Singapore’s luxury golf clubs for a weekend.
For golfers looking to venture outside of ASEAN, Asia-Pacific boasts some beautiful golf courses as well, albeit at a higher cost than if you were to stay within the ASEAN region. If you are looking for great deals or want to visit some of the best professional golf courses in the world, Australia may be the destination for you. For deal-seekers especially, Australia’s Vines Resort in Perth costs only S$119 for accommodations per night and S$62.60 for a round of 18-hole golf. This ends up being a quite affordable getaway compared to other Asia-Pacific destinations, despite the S$800 round-trip flight. On the other hand, if you are looking for a high-end luxury getaway, South Korea’s Southcape Owner’s Club is an architectural marvel with a golf and accommodation package costing almost $500 per night. Though trips to this region might be expensive compared to playing golf in Singapore, you will have a chance to experience a different culture while trying your hand at some of the top golf destinations enjoyed by amateurs and professionals alike.
How to save on top golfing destinations
Regardless where you go, golf can be a very expensive hobby. Below are some tips we’ve prepared to reduce the financial burden of a golf trip.
Find ways to save on your flight
There are several ways you can save on your flight, including booking at least two months in advance, purchasing flights on weekdays rather than weekends and using comparison tools to find out which travel agent will give you the best deal. Additionally, you can save a rather significant amount by smartly utilising your credit card to book your trip. For example, many mile credit cards come with their own online travel booking portals that provide additional discounts or mile rewards on your flights and hotel nights. To gain airline miles this way, instead of going to a particular store’s website directly, you would first visit your credit card’s website and go to your shopping site of choice through the bank’s shopping portal page. Doing so could help you save easily 10-20% on your trip either through earning direct discounts or through earning reward miles.
DBS is one of the banks that offers additional miles through its shopping portal
Find ways to save on hotels and green fees
The best way to save money on your accommodations is to look for resorts that combine your green fees into your room package. For instance, Thailand’s Black Mountain Golf Resort’s combined stay and play package can save you almost 50% per day than if you were to book a room and pay for green fees separately. Additionally, you can opt to stay at cheaper hotels or airbnbs not connected with the golf course. For instance, while a golf resort can cost up to S$300 a night in Vietnam or Thailand, you can find airbnbs in the golf club’s vicinity between S$50-80/night.
To save money on green fees, you can look at the promotions golf clubs are having. For example, a lot of them will give you a discounted rate if you choose to play in the late afternoon or if you stay and play during the off-season. To save even more, avid golfers may want to apply for Maybank World MasterCard, which provides green fee waivers at 79 of the top golf clubs around the world, with an additional 10% discount on walk-in rates.
Protecting your wallet from unforeseen expenses with travel insurance
As much as it may seem unnecessary, purchasing travel insurance can be a great way to save on unforeseen golf expenses. For example, weather conditions like rain can easily cost hundreds of dollars in unused green fees. Also, those who will be renting golf clubs may appreciate the hired golf equipment coverage offered by some insurers, which protects you from expenses incurred from damage or loss of your rental equipment. There are several insurers that have policies geared towards protecting golfers, including unused green fee reimbursement and protection for your golf clubs and rentals against damage or theft. Additionally, purchasing travel insurance can protect you from theft, baggage & trip delays and will relieve some of the costs associated with inclement weather at your destination. The table below shows insurers who have great comprehensive golf coverage.
Miscellaneous ways to save even more
Saving on small costs can also end up saving you a lot in the long-haul. For instance, it is recommended that you bring all of your proper attire (including bug spray, sunscreen and other personal items) and pack light meals to prevent overspending at expensive restaurants and golf shops. Travelling with friends can also lead to group discounts (as well as some company). Bringing your own golf balls can help you save on costly golf ball prices. If your work schedule allows, golfing in the middle of the week usually means lower green fee rates by around 20-25% compared to golfing on weekends and holidays.
As 2018 marks DBS’ golden anniversary, the organization has shared their vision of making banking evolve with time. With the ethos enabling women to achieve a work-life balance through managing their finances with ease.
Its old campaign, “Living, Breathing Asia” created an avalanche of opportunities to disrupt the marketplaces in the past decade or so. Earning titles such as “World’s Best Digital Bank”, “Asia’s Best Bank” and “Most Valuable Bank” by renowned publications such as The Banker, Euromoney, IFR Asia and Global Finance.
DBS CEO Piyush Gupta unveiling the bank’s bold new promise, “Live more, Bank less”.
Last Tuesday, DBS Chief Executive, Piyush Gupta announced plans for “the new kind of banking”. Instead of constantly worrying about managing finances, the campaign “will give customers more time to spend on people or things they care about”.
As a leading global bank in Asia, DBS was able to triple its market capitalization, currently valued at S$75 billion. Mr. Gupta states: “Having made re-imagining banking a priority in the last few years, we believe we are well placed to personify and embody banking of the future.”
Live hassle-free with invisible banking
In this digital day and age, simple, seamless and invisible transactions have become the epitome of delivering great service. From buying paying off bills, investing in stocks and even applying for loans; online access has connected the world in ways that were not even imaginable 50 years ago.
DBS has made sure to provide access to these marketplaces through their own website in the past nine months.
Seize life’s opportunities
Treasury Prism, the world’s first online treasury and cash management simulation tool, helps “chief financial officers and corporate treasurers manage and project their cash positions”.
Additionally, DBS BusinessClass and DBS iWealth provide access to the latest market trends and performance analysis. Ensuring that there is a diverse community for every business owner to be a part of.
Live larger than themselves
Stressing the importance of living life to the fullest, DBS enables social entrepreneurs to solve issues of the real world. Through grants, banking services, mentorship and fund-pitching, DBS provides platforms for innovative and sustainable solutions for generations to come.
DBS. Live more, Bank less - YouTube
“While we remain rooted to Asia, Asia is rapidly changing, like the rest of the world. With the ubiquity of the smartphone, the explosion of data and the rising of the sharing economy,” said Mr. Gupta.
Established in Singapore in 1968, DBS continues to revolutionize the banking landscape and innovate the experience of each and every individual. The $30 million branding campaign will span across 6 ASEAN markets starting with Singapore.
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
DBS is at the forefront of leveraging digital technology to shape the future of banking and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognized for its leadership in the region, having been named “Asia’s Best Bank” by several publications including The Banker, Global Finance, IFR Asia and Euromoney since 2012. In addition, the bank has been named “Safest Bank in Asia” by Global Finance for eight consecutive years from 2009 to 2016.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established an SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment, and can-do spirit in all of our 26,000 staff, representing over 40 nationalities. For more information, please visitwww.dbs.com.
Probably the scariest part of the bankruptcy process is trying to come to terms with the fact that you need to go through with it.
Let us face it; bankruptcy has failure written all over it. Regardless if your need to file for bankruptcy was caused by factors that you have no control over, it would still give you a feeling of helplessness. Even if you lost everything because you had to pay for expensive medical bills or due to a failed business, nothing would erase the fact that somewhere along the way, you failed in managing your finances. Realizing this failure is a painful reality to swallow.
While you may be feeling down because of the prospect of bankruptcy, you need to pick yourself up and face the music. Just remember, when you reach the bottom, there is nowhere to go but up. Try to be brave enough to complete the bankruptcy process if that is the best course for you to follow at this point. The earlier you finish, the soon you can start rebuilding your personal finances.
But before you start, ask yourself first – is this the only option that you have left? Is there no other way for you to recover? If it is debt that is the problem, maybe there is something that you can sell to pay off your credit obligations. Or perhaps, you can negotiate with your creditors and lenders and propose a payment plan that you can afford.
In Hong Kong, you can file the Individual Voluntary Arrangement or IVA instead of bankruptcy. This is when you submit a payment proposal to the bankruptcy court and the creditor – a repayment plan that you can afford. In Hong Kong, you can file the Individual Voluntary Arrangement or IVA instead of bankruptcy. This is when you submit a payment proposal to the bankruptcy court and the creditor – a repayment plan that you can afford. If the court approves this, your creditors cannot come after you in court as long as you stick to the approved repayment plan. This will help you solve your debt troubles and at the same time, avoid the adverse effects of bankruptcy.
If you have exhausted all efforts to fix your financial position and still nothing worked, then you can go ahead and start the bankruptcy process.
What happens when you file for bankruptcy in Hong Kong
Based on the guide provided in the Official Receiver’s Office website, everything that you need to do will be under the Bankruptcy Ordinance.
This ordinance will serve as your guide in dealing with the creditor or lender that you are unable to pay as the debtor. Take note that there are times when the creditor will initiate the bankruptcy petition against you if you fail to pay your credit obligations.
The Bankruptcy Ordinance, according to the website, will do two things:
Collect any personal assets that can be liquidated so it will be used as payment replacement for your debts.
Investigate why you became insolvent and initiate sanctions in case you are found guilty of breaching any provisions imposed by the bankruptcy court.
To file a debtor’s petition, you need to go through the following steps:
Accomplish a “Debtor’s Bankruptcy Petition” (Form 3) and a “State of Affairs (Debtor’s Petition)” (Form 28C). Both of these documents can be downloaded for free from the Official Receiver’s Office website, and you need to pay HK$18 for each form. You can also get this from the Publication Sales Section of the ISD or through its website (isd.gov.hk). You also have the option to order through fax (2523-7195).
Pay a deposit of HK$8,000 to the Official Receiver (trustee). This will cover all the fees and expenses that the trustee will incur while processing your petition.
Make sure the Petition is attested, and the Statement of Affairs is sworn.
Proceed to the Registry of the High Court to do three things: pay HK$1,045 as the court fee, schedule a date of hearing on the Petition, and file both the Petition and the Statement of Affairs.
Seal a copy of both the Petition and the Statement of Affairs and submit to the Official Receiver.
After Submitting Necessary Documents
Once you have submitted these documents, you or any of your assets can no longer be involved in any other bankruptcy petition. Not only that, you are giving the Official Receiver the authority to become the provisional trustee for your assets.
Take note that while you are going through the bankruptcy process, you cannot practice certain professions – specifically, those that will require a license (lawyer, agent, etc.). In case you own your house, you will be allowed to continue living in it – but you will be expected to make the necessary arrangements to live elsewhere as soon as possible.
To make the process as smooth as possible, you need to cooperate with the trustee completely. If they require you to attend a meeting or to submit something that will expedite the procedure, you have to comply. It is also important, to be honest about everything that you will submit. That will keep you from getting into more trouble – both legally and financially. You will also be prevented from making new credit transactions – but you may be allowed to open a savings account – for compensation purposes.
Be careful about talking to your creditors or sending them payments directly – it should only be through the trustee.
How to recover from the effects of bankruptcy
The effects of the bankruptcy process will depend on your personal resolution to recover from this financial blunder. Here are some tips that will help you go through this as soon as you can.
Know what caused you to declare bankruptcy. According to an article published in the South China Morning Post, personal bankruptcy in Hong Kong is usually resulting from the spending habit. If this is the cause of your financial difficulties, then you need to learn how to manage your finances well.
Set financial goals. The best way to rebound after the bankruptcy process is to set new financial goals. You can start small by building your emergency fund. Set a reasonable goal – sooner or later, you can start building the assets that you lost because of bankruptcy.
Start rebuilding your credit history. Your recent bankruptcy stint will ruin your credit history – but this will not be felt Start using credit again but this time, use it wisely. Pay it off in time and make sure you will not borrow more than what you can pay back.
Be positive. As devastating as bankruptcy may be, it is not the end of the world. You just have to keep a positive attitude and believe that the best is yet to come. Learn from the mistakes of the past and find support in the people around you. Some of the most successful businesswomen in the world had to file for bankruptcy but ended up being financially triumphant after the fact.
You probably saw and nodded to a meme about the impossibility of proper life-work balance as you scrolled through your feed. More than that, there are definitely more distractions today than there were a couple of decades ago. These days, people find themselves spending an average of 8 hours a day swiping through their smartphones, playing mobile games, and using their other electronic devices. Given such difficulties, it is tempting to just give it up and condition the mind that balancing work and life perfectly is an impossible feat. But you know what? It’s all hype! Many women – of different professions, fields of expertise, and genders, single women, married women, divorced or widowed women, and single moms – are actually able to achieve the perfect balance of their work and other aspects of their lives. The key here is to know the secrets. Let us help you out with these 5 truths you should know about life-work balance.
Learn time management.
This is perhaps the most important advice you need to remember in order to achieve this goal. After all, time is sort of the enemy when it comes to dividing your life among work, social, family, hobbies, etc. All these, in addition to getting sufficient night’s sleep.
What does this require of you? This means you dedicate a few minute of your morning planning out your whole day ahead, maybe in your head if your prefer making mental notes or in your notebook/planner. When you do this, you need to think about the urgent tasks and your priorities. Put the most important ones first so that you get to finish as many of them in a day, especially in the case of emergencies or other obstacles that could delay you. Other than that, do your best to actually follow your plan.
When it comes to managing your tasks and to-do lists, manage them according to importance and urgency. Consider the following as a guide:
If you really think you lack skills in this area, consider seeking for expert’s help or attending time management classes.
Change is constant.
There is no one-size-fits-all framework or instructions on how you can achieve the perfect balance between their jobs and lives. Aside from that, you will find yourself having to change your plans and routines through the years. You will also need to improvise or prepare for when things do not go as planned.
For instance, getting a promotion might mean having to budget your time more wisely to be more productive at work. Another example, having a child would mean taking a short break from work. In case you ever wondered why openness to change is a valuable trait in business and success, these are among the reasons.
Do not deprive yourself of basic necessities.
Having a successful career does not only mean strategic planning, late nights at work, and being productive and highly skilled and knowledgeable in your field. One thing that is just as important is taking good care of your overall wellbeing. This means not skipping meals, getting sufficient hours of sleep at night, healthy diet, regular exercise, and regular check-ups.
In case you are doubtful, check out this TED-ed video on sleep deprivation. Spoiler alert: getting enough sleep is very important. Effects of sleep deprivation include loss of focus and concentration, inability to recognize objects via touch, moodiness, paranoia, hallucination, problems with short-term memory, and ultimately, death.
Meanwhile, skipping meals are shown to cause irritability, moodiness, healthy complications due to dive in blood sugar levels, tiredness, and low metabolism. Contrary to common belief, skipping meals can cause weight gain rather than weight loss because it also results to extreme hunger pangs and appetite.
Not only can regular exercise help you lose weight, increase your metabolism rate and keep your body physically healthy and fit; it also causes alertness, higher levels of energy, better quality of sleep, and improved blood circulation. Our brain also produces happy chemicals whenever we engage in strenuous physical activities like working out.
Ward off negativity.
Getting emotional (angry, sad, etc.), getting into arguments, quarrels, and fights, and ranting may eat up a lot of your time during the day. On top of that, working while emotionally distressed is most likely going to affect your performance, productivity, and the quality of your work.
The solution here is straightforward but challenging to do: keep yourself away from these things that bring negativity in your life. Start by decluttering your home and your workspace. Get rid of trash and those you never really use or stopped working. Do the same as well with your social media pages; unfollow the pages and people whose post turn your mood sour, and filter your feed from the contents that usually annoy you. More importantly, surround yourself with family and friends who are encouraging and supporting of your endeavours.
You might want to consider the practices of meditation and yoga to help clear your mind from negative thoughts and ideas.
Take the occasional time off.
It does not do well to overwork and stress yourself too much. We are all human, after all, and we all need to rest eventually. This is not really just about giving yourself time and space to enjoy and have a good time; overworking, staying up late, and stuffing ourselves with caffeine can lead to health complications and in some cases, death. That is why you should make use of your leaves.
When budgeting and dividing your regular income, allot a portion of it for vacations, travelling, or other leisurely activities and hobbies. It might also be more effective to try out different activities to keep yourself from getting bored with one. Go out of town or out of the country. Get a massage. Attend a new skill class. Buy painting and coloring materials and explore your imagination and creativity.
Don’t slack off.
A tendency for many workers is to put a lot of effort into their work at one go and sit back and relax for a long time after that. The problem here is that the “work first, rest later” mentality is not going to help your time management. Do not look forward to the day when you will not have a care in the world at all. Problems and difficulties will always arise, but that’s part of life and the struggle, and these things make us better at what we do.
So do not spend too much time watching Netflix on your television or playing video games with your console. Allot an hour or two for them regularly, but try not to get past the allotted time. Leisure activities and relaxation are good, but too much of something is harmful to your work-life balance.