Latest Articles in Travel

Latest Articles in Travel

6 Credit Cards with Free Exclusive Airport Lounge Access

Most people think that only business travellers and the rich can access the comfortable and luxurious airport lounge but with an air miles credit card you can access these lounges for free. Find the best travelling credit card to fit your needs an…

5 Ways You Can Save Up with Your Air Tickets and Hotel Room Online

If you want to save up with your plane ticket and hotel accommodation, you must be clever enough to know the simple ways to cut down fees without sacrificing your comfort...

5 Affordable Destinations Perfect for the Year-End Holidays

With only a month left in 2016, where do you plan to spend your holidays without burning a hole in your pocket? Discover the most affordable destinations in Asia before the year ends…

Soar with the Best Air Miles Card for You

Singaporeans are avid flyers whether for business or for vacation, and there is no stopping you from getting the most benefits out of your Air Miles card, yet the question lies on which credit card offers the most number of miles to take you to fo…

6 Reasons Budget Travelling Singaporeans Overspend on Holidays Overseas

Over the years, while Singapore has been a hot spot of tourism for foreigners, the number of Singaporeans spending holidays overseas is constantly growing and is even bound to rank as the fourth outbound city market until 2020.

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Is Being a Digital Nomad Really a Free Lifestyle?

If you are lucky enough to land a job which allows you to work and travel at the same time, then you are living a life most Singaporeans desire. Being a digital nomad is not an impossible dream, however, is it really a free lifestyle?

10 Dumb Travel Habits that Could Ruin Your Holiday Vacation

It is no secret that Singaporeans are avid travelers abroad every time there is a chance to grab. With the demanding jobs and everyday stress, travelling surely meant to be an enjoyable relaxation that must not be restrained by certain avoidable h…

Comprehensive List of Visa-free Countries for Singaporeans

Singaporeans love to travel to various destinations around the globe. And if you are one of them, you should know the countries you can visit without a fuss on Visa, and which once require you to have one.

This year the Henley & Partne…

Avoid These Pointless Overseas Habit to Keep your Travel Insurance

It is obvious Singaporeans love travelling. They go overseas on long weekends and even have pre-nuptial shooting and shopping on neighboring countries. There are times when Singaporeans, especially the youth, get into trouble by having too much fu…

How to Get the Best Family Vacation Abroad

Here are the 23 important things you need to do to ensure you get a hassle-free family vacation.

Go to eRegister of Ministry of Foreign Affairs and register as a group if your family members are not yet registered. The eRegister is a free s…

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Latest Articles in Business

Latest Articles in Business

5 Best Marketing Strategies for Your Investment Firm

Have you ever checked the efficiency and outcome of your investment management firm’s marketing strategies? In this age of rampant digital marketing and cutthroat competition, it is very much important to be ahead of the competition by using up th…

Moneylender Review: How to Find Low Interest Lender in Singapore (2019)

Are you trying to compare rates and service to find out who’s the right licensed moneylender for you? As you may probably know, licensed moneylender reviews in Singapore are handy for first-time loan borrowers and even for those who are look…

How to Improve Your Success Rate in Getting a Business Loan?

There are so many reasons a startup or a small business might need funding. Convincing banks to give small business loans can be challenging. The chances of your success depend directly on your preparedness. The idea of getting a business loan can…

10 Easy Steps to a Perfect Pitch Investors Can’t Resist

Anxious about your business pitch? You have the right reasons to be. A pitch may just take a few minutes but it has the power to propel your business to the top or crash it into dust. This is why you need an irresistible pitch that gets funded. Op…

Is Debt Consolidation Right for Your Business? 8 Important Things You Should Know

Most of the businesses have an extremely daunting time for managing the huge debt amount that they have. If as a business owner, you are constantly stressed and worried about the rising burden of the business debts, you have the freedom of opting …

Getting money is now as easy as spending.

Borrow up to $50,000. Apply in 5 minutes.

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5 Ways Retail Stores Can Fight the Booming E-Commerce

Virtual carts get filled up as retail stores dry up their money. What used to be Singapore’s most famous shopping centre is now deserted. Orchard Road was the place busybodies would avoid every weekend due to throngs of shoppers bustling from one …

6 New Startup Schemes in Singapore for 2017

Each startup needs funding. How will you launch and start your company if you do not have the money to turn up the gear? Funding your business is definitely a priority and you must be thankful that Singapore is a country offering schemes and grant…

Citibank Business Loan Limitations You May Not Know

Need to propel your business but lack funds? This is a very common concern for the most entrepreneur. No business will take its full potential without a working capital to constantly run it, let alone expand. If your business is already thriving, …

3 Non-Bank Alternatives to Standard Chartered Business Loan in Singapore

Need assistance for your business’ cash flow? Having your own business is not simple. It needs a lot of time, and of course cash to keep it afloat. Depending on your business, it will need some time to get back your invested capital. And if it nee…

Need a Small Business Loan? Here are 10 Things to Consider!

Cash is King! No business will move forward without a working capital, especially for its first three years. Being an entrepreneur, you dream to make your business better to get more clients, earn and expand. We all know getting a business loan is…

Latest Articles in Invest

Latest Articles in Invest

5 Best Marketing Strategies for Your Investment Firm

Have you ever checked the efficiency and outcome of your investment management firm’s marketing strategies? In this age of rampant digital marketing and cutthroat competition, it is very much important to be ahead of the competition by using up the…

Here’s What You Can Learn from Western Market About Paying Off Debt & Investing

With the total household reaching a record $13 trillion according to Forbes.com and the average American carrying 26% of his annual income as debt, almost everyone in America is worried over the perennial puzzle of whether to pay off debt first or to …

What You Need to Know About Credit Cards

Singaporeans are not new when it comes to credit card use. In July 2016, a total of 7,940,471 credit cards existed in the city-state excluding the supplementary cards. Since most Singaporeans have a personal bank account, you must have encountered…

Mutual Funds: What Are They?

Investing always gets hold of Singaporeans’ interest since they tend to value finding alternative ways to earn more and save more. While you invest is a proven by Folklore of Finance research when Singaporeans topped the financial literacy test, only 5% o…

What is SGX (Singapore Exchange Limited)?

Investing has been catching the attention of Singaporeans nowadays, especially now that Singapore Exchange has finally introduced a minimum trading price (MTP) for Mainboard companies. More investors can now access SGX, if you are a beginner, here…

Getting money is now as easy as spending.

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SGX Singapore Exchange: A Guide on Dollar Cost Averaging

When you invest in Singapore Exchange, many usually think of savvy investors dressed in suits and reading the business section of the newspaper. Young Singaporeans can start investing in SGX Singapore Exchange too and you need not to be a mi…

5 Thrifty Tips to Create Your Singaporean Online Business

Online shopping has completely caught the hearts of Singaporeans. By 2015, it has penetrated the lives of Singaporeans at 57.31% and it is expected to reach 74.20% in 2020. Evidently, e-commerce is indeed booming. More than 50% of women shop online…

8 Obvious Reasons Why Singaporeans Fail in Investing

Most Singaporeans view investing as a vital step towards financial stability later in life. It adds up to the hope of early retirement or perhaps a retirement at ease, going to places and affording the finer things in life. However, while many wan…

PIC Scheme Revision Every Startup Should Know

In February 2016, a director and several companies were charged with a hefty penalty after they tried to claim a high amount of Productivity and Innovation Credit (PIC) cash payout through fraudulent transactions.

Director Alan Ang Soon Te…

Get the Best UOB Gold Price Rates Today!

When the investors were downcast with a prediction of a 2.3% fall in Singapore’s export, they received a pleasant surprise of a surging 11.6% as the markets closed on June 17. There are three factors considered to have influenced the surge: pharmac…

Latest Articles in Saving

Latest Articles in Saving

Where to Get the Best Instant Cash Loan in Singapore?

With the need for fast cash loans getting more common, we are becoming more open to the ever-evolving lending industry.

The tightening competition in Singapore compels each unsecured loan provider to hustle and create innovative products an…

5 Ultimate Reasons to Start Building Your Emergency Funds

Most individuals face one or more challenges due to unexpected expenses. Though you do not want to spend more money than what is necessary, certain situations can force you otherwise. Whether you are employed or a business owner, it is significant…

Moneylender Review: How to Find Low Interest Lender in Singapore (2019)

Are you trying to compare rates and service to find out who’s the right licensed moneylender for you? As you may probably know, licensed moneylender reviews in Singapore are handy for first-time loan borrowers and even for those who are look…

15 Smart Ways to Save More Money When Shopping for Groceries

Groceries are part and parcel of life. You cannot eat your hard earned money, but shopping for groceries can leave you feeling high and dry as it can burn a hole right through your wallet or savings. You have come to the right place if you want to…

Simple Steps to Help Improve Your Personal Finance Management

There will be a lot of people around you and you may even come across blogs that will epitomize the negative aspects of loans. In reality, if you think deeply, you will see that there are several positive sides of personal loan. Taking on credit w…

Getting money is now as easy as spending.

Borrow up to $50,000. Apply in 5 minutes.

Tell Me More

Here’s What You Can Learn from Western Market About Paying Off Debt & Investing

With total household reaching a record $13 trillion according to Forbes.com and the average American carrying 26% of his annual income as debt, almost everyone in America is worried over the perennial puzzle of whether to pay off debt first or to …

Effortlessly Pay Your Cash Mart Loan with PayNow

True to its promise, Cash Mart has always been on the lookout for innovations to make its loan process and service more convenient. The new PayNow Corporate e-payment service is now available to Cash Mart’s customers. This is to give more efficien…

10 Reasons You Need a Financial Plan

Having a financial plan is the first step to achieving financial freedom. Other than determining your short-term and long-term financial goals, it also helps you plan how you can achieve those goals.

Top 4 Finance Trackers That Can Ease Your Money Problems

Most people can’t last the day without checking their smartphones. After all, checking emails, text messages, and chats is a part of our daily routine. Smartphones are too smart they let us shop and pay bills while on the go. But have you discover…

3 Practical Tips to Build Enough Retirement Savings

Got your retirement planned out? Over the years, Singaporeans have changed their perspective on retirements. Years ago, people think that retirement is stopping work and then relaxing with time at their own disposal. Now, millennials think that re…

5 Flexi Loan Benefits Singaporeans Need to Know

5 Flexi Loan Benefits Singaporeans Need to Know

Need a loan, but your income is not qualified? Find a legal lender that offers various loan products. Also, look for flexi loan benefits.

Some Singaporeans are anxious to even apply for a loan. However, they don’t think they can get approved, considering their low income. The truth is that most moneylenders require a minimum income. It is for assurance that they can get paid.

The question is, where can the low-income earners get a financial lifeline? Of course, nobody wants to get involved with loan sharks. A handful of licensed moneylenders have understood this dilemma. Therefore, they created Flexi loans.

Flexi loans are short term loans especially created for low-income earners.

flexi loan benefits

Credit: https://www.cnbc.com/select/boost-your-financial-confidence-according-to-a-fintech-vp/

5 Flexi Loan Benefits You Need to Know

Flexi loan eases the stress during a financial dilemma

Even experience lying in bed at night thinking how you will survive the next day with an empty wallet? And how will you go on a few days before your next salary?

The financial gap creates stress. People get anxious, especially if there is a sudden medical need for kids. A Flexi loan gives you hope to bridge this gap. Ease the stress by paying the medical bills not covered by the insurance.

You may have insurance, but the policy needs you to pay the bills first. Then, you can reimburse it. Finally, you can use the flexi loan to pay the bill.

Flexi loans are safe.

Borrow from registered moneylenders to ensure your information is safe from fraudulent activities. There are loan sharks who seem angels sent from above to help during your dark financial times. They will even push cash into your hands. Afterwards, they will squish out every cent you have, no matter what it takes.

When applying for a flexi loan, do not forget to secure your future. Get the flexi loan benefits only from licensed moneylenders.

Flexi loans help you rebuild your credit score.

Getting a flexi loan can help with your “no credit history.” Of course, no matter what you are earning now, it is best to keep your credit score in good shape. A credit score is crucial for loan applications. If moneylenders see that you have an outstanding credit history, you can easily get approved. In addition, you can even get a higher loan amount.

Remember that you only apply for the amount you are confident can pay off. Then, consistently meet the repayments and maintain a good relationship with your moneylender.

The best option for credit

There are other options you may have to get cash. For example, you can pawn your belongings, such as jewellery pieces. Failure to pay means losing what you have pawned.

What if you do not have anything to pawn? Maybe you can borrow from family and friends. You are lucky if someone lends you at short notice. However, you are risking the relationship you have. It is hard to face the person whose face reminds you of your loan.

What if you have nobody to turn to? Then, you can apply for the flexi loan benefits. Flexi loan is accessible, fast and convenient, especially if you can do it online.

Use a flexi loan for any purpose.

Flexi loans are multi-purpose loans. You can use it in any way you want. For example, pay your bills, purchase needed apparels, and buy groceries. It may help you reach rare opportunities such as investing.

If you want to learn new skills to upscale your career or get another job, you can use the flexi loan to enrol in some training lessons. Also, you can start a small home business as a sideline. Being a low-income earner does not mean you have no right to get any opportunities. Use a flexi loan as a tool to have a better income.

Common Misconceptions about Flexi Loan

It is only for those who are short on money or savings.

You can use the flexi loan to learn new skills or build a new home-based business. You may not need it for an emergency, but you can use it to make a better financial status.

It is a way to further debt.

A flexi loan may have interest charges, and that is understandable. If you get a flexi loan from a licensed moneylender, you can pick which fits your current finances. A responsible lender will not lend money which is impossible to get paid by the borrower.

Furthermore, you can avoid possible penalties if you consistently meet the repayments.

Borrow more than you need to have extra cash at hand

What other people think is that they must borrow more to get approved. What moneylenders consider is your ability to pay. Borrow what is within your means. The higher the amount you borrow, the higher the interest you need to repay.

Where to Get the Flexi Loan Benefits?

Cash Mart offers flexi loans to Singapore Citizen or Permanent Resident earning below $20,000. This amount fits low-income earners who can’t get a loan from banks and most money lenders.

Need a flexi-loan? Get it from Cash Mart today.

Revised Grants and Benefits for SG Entrepreneurs

Revised Grants and Benefits SG Entrepreneurs Shouldn’t Miss

With the competitiveness of SMEs, the government provided revised grants and benefits for SG entrepreneurs. 

It has been proven that the government has a consistent commitment to business development in Singapore. It is evident, especially for SMEs. Mr Heng Swee Keat of the Ministry of Finance understands it. Also, he shared the importance of boosting small and medium enterprises on the island.

In addition, Mr Heng touched on creating new industrial opportunities. It helps to cluster companies while also supporting Trade Associations and Chambers.

SMEs can gain leverage in the ever-growing competitiveness in the industry. Furthermore, the financial support ranges from grants to tax rebates. Here is the gist of your expanded, revised grants and benefits from the budget 2016.

Latest Revised Grants and Benefits for SG Entrepreneurs

For years, the wide range of grants has been confusing business owners and directors. It asks for various requirements, eligibilities, and purposes. To save time, money and effort for grant processing, the government has announced the creation of the Business Grants Portal. It will be ready for use by the fourth quarter of 2016.

With this portal, SMEs and other thriving businesses can easily see the grant’s requirements. Moreover, they will know which one they are eligible to. Also, they get to know about the process. Plus, they can identify which stage their request is currently on. Therefore, they can track the grant they applied for.

revised grants and benefits in Singapore

Credit: https://www.taxassist.co.uk/resources/news/business-rate-relief-and-cash-grants-to-bolster-firms-during-covid-19-outbreak

SME Working Capital Loan

The SME Working Capital Loan will provide loans for startups. The SMEs can apply from participating financial institutions (PFIs) for $300,000. In addition, the government will be co-sharing the default risk at 50%.  The interest rate will be subject to the PFIs’ assessment. SMEs must be currently registered in Singapore with at least 30% local shareholding.

PIC Scheme

On the other hand, Productivity and Innovation Credit (PIC) Scheme have reduced the required expenditure. It came from 60% to 40% effective on or after 1 August 2016. However, the scheme will soon expire in 2018. The government looks forward to more targeted measures rather than broad-based support. Also, this is to push SMEs towards the direction of more thriving firms through performance improvements.

Capability Development Grant

SPRING introduces an Automation Support Package with four components. First, Capability Development Grant (CDG) expanded to back up businesses. It intends to scale up its automation projects. While the grant caps at $1 million, the grant only covers up to 50% of the qualifying cost.

Investment Allowance

Investment Allowance (IA) provides additional cash to the existing capital allowance. It is exclusive to plants and machinery. The capital for each project caps at $10 million. As for enhancing financial support via loans, the government can increase the risk share further. It is under PFIs through the SPRING’s Local Enterprise Finance Scheme (LEFS) equipment loan. It will cover about 70% of the qualifying projects for SMEs.

Meanwhile, only 50% risk-share with PFIs will be for non-SMEs. Furthermore, IE will collaborate with SPRING. It is to aid businesses that aim to access overseas markets.

SME Mezzanine Growth Fund

The government introduced SME Mezzanine Growth Fund (MGF) in 2014. It is part of the Co-Investment Programme (CIP) for the investee companies. This year the fund size increased to $150 million. The purpose is to match the private sector investments and cover smaller SMEs.

SMEs seeking to acquire other companies for growth can take advantage of their Mergers and Acquisitions (M&A). To encourage SMEs to widen their scope, the government increased the value of the qualifying deals by up to $40 million. As a result, it increases the M&A tax allowance from $5 million to $10 million.

Moreover, SMEs have a chance to have more cash at hand. The Corporate Income Tax rebate has increased from 30% to 50% of tax payable. In addition, the rebate caps at $20,000 for 2016 and 2017.

Business owners are actively encouraged to hire workers aged 55 and above. However, it comes with a monthly payment of $4,000 a month.

Special Employment Credit

The Special Employment Credit scheme has been extended for another 3 years. However, the government will be raising the re-employment age in 2017. As the businesses scale up, they will need the added manpower and experiences of the older workers who can still do the job. The entrepreneurs will even receive subsidies needed for further expanding the business.

Other Revised Grants and Benefits

Thriving SMEs are now eyeing the international markets. Also, the government extends support. Examples are the Global Company Partnership and Market Readiness Assistance programmes and the Double Tax Deduction for Internationalisation.

The former aims to help SMEs with the cost of expansion to the overseas markets. Meanwhile, the latter allows the claims to claim a 200% tax deduction on airfare and hotel accommodations. In addition, even the salaries of Singaporeans staying abroad for business development.

The previous Budget announcement gave more hope to both budding and thriving businesses. It offers more local support through revised grants and benefits, loans, and tax rebates. Thus, it helps to grow further and expand.

Furthermore, the government encourages SMEs to broaden their horizons and eye for the overseas markets. Therefore, SMEs should efficiently take advantage of the said benefits to innovate, automate, and grow internationally.

If you need more cash for your business, do not hesitate to check out licensed money lenders in Singapore. Or simply give Cash Mart a call.

The friendly staff will assist you with your small business loan process. Expect cash disbursement in 30 minutes upon walking through their office doors.

10 Reasons You Need a Financial Plan

10 Reasons You Need a Financial Plan

According to the 2016 MasterCard Index of Financial Literacy, Singapore tops the list of countries with high financial literacy in the Asia Pacific. Meaning Singaporeans are knowledgeable in basic money management, creating a financial plan, and investment matters.

Among these three core areas of financial literacy, you need to stabilise a financial plan. It allows you to build a framework for managing your finances. That way, you can tie together your short-term and long-term financial goals.

What is Financial Plan?

MoneySense defines financial planning as “taking charge and managing your finances to ensure your financial well-being.”

This includes monitoring your cash flow and spending habits, finding ways to settle your debt, building a budget plan, and more. Because it’s multi-faceted, you need a plan to tie all of this together.

Depending on your needs and goals, you can choose to build your own financial plan or ask for the help of a financial planner.

Regardless, here are ten reasons you need to plan your way to financial independence:

financial plan in Singapore

Credit: https://online.arbor.edu/news/what-does-a-financial-consultant-do

1. It Helps You Understand Your Financial Situation

When creating a financial plan, you need to know how much money you have, how much money you owe, and how much more money you need. It is not meant to make you feel devastated. Understanding your financial situation allows you to set realistic short-term and long-term financial goals.

2. It Helps You Understand Your Cash Flow

Your cash flow will be the foundation of your financial plans. It will determine whether you can start building the necessary funds to reach your goals or if it’s something you should work on. Thus, it’s important to consider your net salary and expenses when making a financial plan.

3. It Helps You Manage Your Income

Because you have realistic financial goals and you have a good understanding of your cash flow, it’ll be easier for you to manage your income. After all, you don’t really receive it in full. Following the tax and other salary deductions, a financial plan is a great reminder of how you should allocate your money.

4. It Helps You Find Ways to Build Capital

Financial planning allows you to manage your income. Meaning, it’ll be easier for you to allocate your money. And when you can allocate your money, it means you can stash a certain amount for your savings. Thus, you can slowly build your funds meant for investment.

5. It Helps You Find Ways to Make Your Money Grow

Financial planning allows you to give room for savings. What should you do with all the money you were able to save? There’s nothing wrong with spending some to reward yourself. However, it’s advisable that you use it as capital for investment. That way, you can see your money grow through time while you’re busy living your life.

6. It Helps You Build an Emergency Fund

Financial planning allows you to replicate successful processes you were able to build. If you could save enough money as investment capital, you can simply repeat the process to build your emergency funds. Why do you need an emergency fund? So you and your loved one can still survive in case of emergencies.

7. It Helps You Protect Your Loved Ones

Protecting your loved ones is part of financial planning. Other than building an emergency fund, now is also a great time for you to review the outcome of your financial plans. If all goes well, consider getting life insurance and health insurance.

8. It Helps You Understand Your Assets and Liabilities

Acquiring assets is desirable to have something you can liquidate in times of need. However, a lot of assets come with liabilities. Creating a financial plan helps you build assets that won’t become a burden in the future. After all, your net worth is a snapshot of your finances.

9. It Helps You Elevate Your Standard of Living

The wealth you were able to build because of careful financial planning could come in handy in times of need. When you have enough funds for various financial vehicles, it is easy to guarantee that your family is protected. In case you can no longer work and you’re the breadwinner of the family, they can still survive because you are insured.

10. It Helps You Achieve Better Financial Understanding

When you don’t know how to handle your finances, it can negatively impact almost every area of your life. The stress could then cloud your judgment. Well-planned and well-managed finances allow you to live a life free of worries.

Take the First Step to Financial Independence

Financial independence starts with identifying your short-term and long-term goals in life. Also, it hurdles you might face in the future.

With a financial plan, you become more confident with your decisions. That’s because you know you made the right choice on where to place your money. As a result, it reduces your stress and allows you to enjoy life more.

Financial planning is all about controlling your finance instead of the other way around.

Have you started creating a financial plan? Did you do it on your own, or did you seek professional help? 

Cash Mart is a legit money lending company in Singapore. It assists you in creating a financial plan with your short-term personal loan. Find out more about what it can offer. 

5% Managerial Pay Hike: What Is It To Singaporean

5% Managerial Pay Hike: What Does it Mean to Every Singaporean

Senior staff and managers in Singapore are now expected to receive a 5% managerial pay hike. It sounds like the best increase in their pay! So that sounds like good news, right?

What does it tell us about the city-state economy? Also, how are Singaporeans of working-age benefit from this?

Singapore’s Economy

While 48% of surveyed companies across Asia revealed their plan to increase their employees’ income, 58% of Singapore companies profess that this increase will soon happen in our own yard.

RELATED: WorkRight on the Move – What Every Employed Singaporean Should Know

Managerial Pay Hike

Credit: https://sbr.com.sg/hr-education/news/sg-employees-see-35-salary-increase-in-2022

What led to this welcoming development?

The managerial pay hike is a reflection that Singapore’s economy is stable. As a result, more works are available despite the unemployment rate recently hitting a six-year high of 2.2%. The city-state is still one of the countries where individuals can easily get a job. However, for some reason, the unemployment rate is increasing.

The economy is getting stable. 93% of companies in Singapore expressed their intent to keep or raise the number of their employees this year.

To retain their employees, they will increase the income of those in managerial positions. In addition, they will continue the employee engagement activities, career progression, and development programs. Most companies are now open to giving medical benefits, annual leave, and completion bonuses.

The ageing population is also becoming more in demand than in the past. It seems that retaining or hiring experienced workers and training the new employees will be more efficient. The younger population of the working age must learn more skills to advance on their career ladder or find a more fitting niche role.

The main beneficiaries of increased wages are the digital, technology and healthcare sectors.

RELATED LINK: Payday Loan in Singapore

Your Personal Finances

While Singapore’s economy has been stable, this does not mean that we are safe from inflation.

Every year the cost of living rises by about 3% a year. So your housing, rent, and other necessities are getting more expensive. What you can buy with your S$100 might cost double in the next couple of years. If your income remains static, you won’t be able to afford your needs in the near future.

The managerial pay hike is not actually a bonus. It is a way to help you keep up with the inflation. The new wage is also a means to know how Singaporeans fare amidst the current economic status. If you still feel that it is hard to survive despite the wage hike, then the economy is not as good as it seems.

On the other hand, if this helps the Singaporeans alleviate the impact of inflation on their daily living, the economy is indeed stable.

Your increased managerial pay hike is not a reward. Instead, it gives you a work-life balance as the cost of living goes up. It simply means you still need to continue saving up.

In case you get into a financial gap, Cash Mart can help you with its affordable, quick cash loans.

5 Ways Retail Stores Can Fight the Booming E-Commerce

5 Ways Retail Stores Can Fight the Booming E-Commerce

Virtual carts get filled up as retail stores dry up their money. So save those shops with these ways to fight the booming e-commerce. 

What used to be Singapore’s most famous shopping centre is now deserted. Then, orchard Road was where busybodies would avoid every weekend due to throngs of shoppers bustling from one shop to another. Nowadays, though, shops permanently close one after the other.

Some are left struggling to hope to get the shoppers back into their brick-and-mortar shops. However, the thing of the past will never be the same. It considers the skyrocketing success of e-commerce.

The Sudden Shift

More Singaporeans shop online.

There has been a massive shift in buyers’ behaviour over the past five years. As a result of the slow economic outlook, there is a 78 per cent increase in their online shopping activities. Moreover, Singapore is on the rise to cashless. Cards have made online shopping more convenient than ever.

PayPal’s recent survey showed that 38% of adults interviewed in Singapore will still do online shopping in the future. They explained it is more accessible.

Singaporeans embrace cross-border online shopping.

Compared to European and western countries, Singapore scores high with open attitudes to cross-border shopping.

The PayPal Cross-Border Consumer Research last 2016 revealed that Singaporeans are comfortable making purchases on foreign websites. The trust in online stores based abroad is the same as their trust in local shopping websites. It is no wonder that Singaporeans ranked as the most confident cross-border online shoppers in the Asia Pacific.

It is especially true now with MasterCard’s Zero Liability campaign. It gives security against fraud to shoppers using their cards. You will not be accountable for any “unauthorised transactions.” However, you must promptly report the loss of the card to your issue.

Smartphones are made smarter with mobile shopping apps

Undeniably, a lot of Singaporeans have a fast-paced lifestyle. Instead, they would use mobile shopping. It will save them more time, energy, and effort to get to the store and pick what they need. Joining the crowd to shop for an item is a thing of the past.

In addition, there is no need to carry heavy shopping bags. Purchased items will be delivered right to your doorstep. In 2016, mobile shopping increased by 42% in just a year. Singaporeans’ forecasted total online spending is S$3.5 billion. A third of it ($1.2billion) is coming from mobile shopping.

There is no stopping Lazada, Qoo10, Carousell, Zalora, EZbuy, and Redmart from invading people’s shopping experience.

5 Ways Retail Stores Can Fight the Booming E-Commerce

Credit: https://www.facebook.com/icco.sg/

How Can Retail Stores Fight the Booming E-Commerce?

Personalised websites

Physical retail stores may seem traditional. But, what’s stopping them from using the internet to engage customers? A relevant website can help you track your customer’s digital journey. You can use this to give personalised services and assistance.

Get up close with your clients through social media

The digital tools are right at your fingertips. Take advantage of social media. Let people know that you have something great in store for them. Also, look for your target clients. Then, engage them by showing what is unique in your shop.

You can use social media to reach your clients. Moreover, get more insights. People will definitely talk about customer service, products, usage, quality, and hours open.

Show your merchandise

Singaporeans usually visit online stores to look for an item. Make them know that you offer something they can’t buy anywhere else. Have limited edition designer collaboration. It is why people were crazed about Hello Kitty outside McDonald’s in 2000. However, make sure that you can deliver what you have promised.

Events and activities

Recreate your store as an event space. For example, have a meet-and-greet event or make a children’s day out activity. If you can, have lounge areas in your shop. Make a reason why people should go down to your store and spend time there.

Furthermore, you co-host events and support charity works. In addition, choose giveaway promos which are worth their time.

Let people associate your store with the word “fun.” Let them enjoy the place even if they do not have to purchase because chances are they will buy something eventually.

Award freebies and discounts for in-store purchases

Some online shoppers reveal that they shop online because many items are cheaper. So aside from saving the effort of checking the store personally, they can keep their money. Everyone loves discounts and freebies. So make the promotion worthwhile.

Take the time to announce this promotion on your social media accounts and clarify your store location.

Conclusion

We are at a time when e-commerce can eat up the retail stores. Retail store owners must not let themselves get behind the ever-changing marketing strategies. You may have the traditional brick-and-mortar shops, but you need to make a website and reach your customers the way e-commerce merchants do it.

If you need quick cash to boost your retail store, apply for a business loan in Cash Mart. The legit moneylender approves a personal loan to credible borrowers. 

POSB iBanking Guide For First-Timers

POSB iBanking Guide For First Timers

POSB iBanking Guide For First-Timers

POSB iBanking is now called POSB Digibank with more than 150 online banking services all in one place. From opening a new savings account to transferring funds to almost any other bank in Singapore, you can surely handle it smoothly with POSB iBanking.

Upon signing up, you will be able to access the full range of banking services such as eStatements, PayLah! and SMS Banking. It is simple, secure and always available.

What are The POSB iBanking Eligibility Requirements?

You have to be at least 16 years old and currently have a personal or any joint-alternate account of:

  • DBS AutoSave Account
  • DBS Current Account
  • DBS Savings Account
  • DBS Savings Plus Account
  • POSB Savings Account
  • POSB Current Account
  • DBS or POSB Credit Card/Debit Card
  • DBS Cashline
  • DBS Home Loan with Servicing Account

POSB iBanking Registration

You can register for POSB iBanking via four (4) channels:

  • Online at dbs.com.sg/bankonline,
  • Digibank mobile app by selecting on “Get Started”,
  • any DBS/POSB Branches, and
  • by calling the Contact Centre at 1800 111 1111

For online registration, you will need to identify yourself with your Debit/ATM Card Number or Credit Card Number. These series of numbers are found in front of the card.

You will also need to provide your mobile number and email address during registration.

What are The Benefits of POSB iBanking

Effortless Application

You can register using your personal ATM card (DBS Bankcard, ALUMNUS card and POSB ATM cards), debit card, or credit card. Once you have registered, you can start accessing your accounts online.

Quick Bank Access

You can easily access your latest banking information on both your POSB and DBS accounts. You can instantly see your deposit accounts, cards, investments and credits.

POSB Security Features

The smooth online services are ensured by the intuitive navigation toolbars. The built-in security features protect every banking transaction and activity you do with POSB iBanking.

  • In addition, POSB provides 100% security on your funds by covering them under the Money Safe Guarantee. In the event that authorized access and transaction was done in your account, POSB will repay the money taken from your account.
  • You can also set and customise your email and SMS notifications. Every time you perform selected transactions, POSB will send an alert the moment transactions occurred and exceeded the amount you have specified.
  • The iBanking OTP serves as an additional security feature with a One Time Password authorisation. This is why you have to register your mobile number with POSB in order to receive a digibank OTP every time you make a transaction.

Fast

Getting your latest account information is just a breeze. You can even complete your banking transactions online to avoid the hassle and effort of queuing.

Anytime, Anywhere

You can do any banking transactions anywhere you are. You can also access your DBS and POSB monthly statements any time of the day.

Money Saver

POSB offers discounts when you use selected internet banking services.

Accessible

There is no need to worry about compatibility hardware. POSB iBanking is designed to run even with a PC with the minimum configuration.

Free of Charge

The standard commission or transaction fees for some services such as purchasing of cashiers’ order, demand draft or traveller’s cheque still applies but the use of the iBanking services themselves and sign-ups are free.

How to Log In to digibank Online for the First Time

Use your temporary User ID and PIN when logging in for the first time. You must also register your DBS iB Secure Device once you have been prompted.

Step 1: Enter your temporary User ID and PIN

Step 2: Tick the box to accept the Terms and Conditions of Electronic Services

Step 3: Click “Next”

Step 4: Key in your preferred digibank User ID

Step 5: Click “Next”

Step 6: Click “Submit”

What is iBanking OTP?

The iBanking One Time Password (OTP) is a security feature introduced by DBS for DBS and POSB account owners with online banking access. It is important to have your active mobile number registered with DBS or POSB to receive your iBanking OTP via SMS. You can use the iBanking OTP for the following services.

SMS Login

You will receive a 6-digit OTP via SMS. SMS Login with iBanking OTP is a new feature introduced in 2012. It is an alternative second-factor authentication on top of using your iB Secure Device.

Banking transactions

A 6-digit OTP will be sent to your registered mobile number via SMS. This is to authorise and complete the selected banking or online transactions such as updating personal information and contact details.

Bank notifications

SMS alerts will be sent to your registered mobile number once your online transactions have been completed.

You will not receive an iBanking OTP for online transactions if your mobile number is not updated correctly or the merchant website you are transacting on is not supported by the 3D Secure™ technology.

You will need your registered mobile number to add a payee, transfer funds overseas, pay bills, update personal details and update your mailing address.

You will need both your iBanking OTP and your iB Secure Device to authorise personal and contact details update, manage alerts, add new cheque, and demand draft recipient.

How to Change POSB iBanking PIN

You can change your iBanking Pin on the iBanking platform. Simply click “Preferences” on the top right-hand corner to access the “Change iBanking PIN” service. You will be required to key in your iBanking OTP before you can access this service.

Your DBS iBanking PIN and your Credit Card or ATM PIN number are not the same numbers. Changing your iBanking PIN does not change any of your cards’ PIN numbers.

How to Use iB Secure Device

The iB Secure Device keeps your transactions secured and safe from any fraudulent activities. Certain transactions require specific buttons on the device.

On the other hand, to access services such as Transaction History, Bill Payment or Funds Transfer, you will need an iBanking OTP sent to you via SMS. Otherwise, press and hold the button with the DBS logo on iB Secure Device.

How to Replace DBS iB Secure Device

In case that your DBS iB Secure Device has been damaged, you can request for a free replacement in three ways.

Via Video Teller Machine (VTM)

Step 1: Proceed to your nearest VTM and complete the authentication process with your NRIC, passport, or ATM/Credit/Debit card.

Step 2: Select “iB Secure Device”

Step 3: Tap “Yes” and select “Reason for Replacement”

Step 4: Collect your new DBS iB Secure Device

Step 5: Register the new device

Step 6: Scan the barcode

Step 7: Key in the 6-digit iB Secure PIN

Step 8: Press “Confirm”

Via digibank Online

Step 1: Log in to your iBanking account

Step 2: Select “Request” and then “More Requests”

Step 3: Tap “Other Services” and select “iB Secure Device Replacement”

Step 4: Click “Login with SMS” and then choose “Get OTP via SMS”

Step 5: Key in the OTP sent to you via SMS

Step 6: Click “Login”

Step 7: Select “Reason for Replacement”

Step 8: Click “Next”, then “Submit”

Via digibank Mobile

Step 1: Log in to digibank

Step 2: Select “Settings” and then “Request New iB Secure Device”

Step 3: Tap “Request/Replacement Reason”

Step 4: Verify your Mailing Address

Step 5: Select “Reason for Replacement”

Step 6: Click “Submit”

If your request via digibank Online/Mobile, your new DBS iB Secure Device will be sent to your mailing address within 3-5 working days

Final Thoughts on POSB iBanking

POSB iBanking lets you Make a Transfer, Manage Payments, GIRO Arrangements, Top Up, Redeem Rewards, Manage Investments, Apply to New Accounts, and Update Personal Details and Preferences. Each transaction is secured with iBanking OTP.

Managing your banking transactions has become more convenient. However, it is still your responsibility to be financially savvy to manage your overall finances.

And when it comes to convenience, getting a loan is just as smooth if you apply in Cash Mart. Cash Mart provides flexible online loan solutions for every Singaporean whenever you need them.