Choice Of Travel Insurance

Now that my trip is approaching, I need to figure out which travel insurance to get. I must admit so far all the trips I have been to, I have never taken out travel insurance. I am referring to the trips I made on my own, not the one with my parents, because for those, I think my parents would have gotten insurance for everyone.

I know people will be shocked to know I did not take out travel insurance all these while. I always thought it is not necessary, because firstly the insurance is not cheap, and secondly, I feel as if I was paying for nothing. It is not the same as life or health insurance, where definitely one can utilise it one day, but for travel insurance, if nothing happens, it is like throwing my money away.

Still, the idea of travel insurance started growing on me, especially since I realise anything can happen. I have been lucky all those times, but always have to expect the unexpected. Especially for this trip, the travel agent kept reminding us to get travel insurance.

So I went to check out the travel insurance available. Our travel agent ties up with two insurers - Chartis (under the American Insurance Group), and Tenet, a Japanese company. If we book via the travel agent's website, we can get about fifteen percent off for Chartis but not Tenet.

I checked out both, and realise that Chartis is a whole lot cheaper than Tenet, even without the discount. But still I wanted more options. So I contacted my second insurance agent and he recommended me Liberty, which is about the same price as Chartis.

All three have the same coverage. Afterall, for travel insurance, what other coverage can there be? My agent told me he would recommend either Liberty or Tenet, because in case of anything, it is easier to claim from there, whereas Chartis has lots of procedures to go through (perhaps because it is a typical American insurance company?).

Honestly all three look good. But in terms of pricing, Tenet is out. So it is between Chartis and Liberty. Since I still have some time left before the trip, I can take the time to think, consider and consult my mum since she will also be utilising the insurance too. Meanwhile, these two insurance packages are both equally attractive, which makes it hard to come up with a decision. Oh well, I will deal with that later.

Considering A Retirement Plan

After meeting up with my new financial planner and going ahead with another investment plan, he shared with me a retirement plan which I find really impressive! The retirement works in the way that we save a certain amount every month for the next twenty-five years or so (assuming our retirement age is sixty), after that there will be a monthly amount being disbursed for the next ten years, and then assuming we are still alive, after ten years the remaining amount will be disbursed out in one lump sum. If I can get income every month after I stop working, that is a good thing!

 

I decided to make a comparison, and called my current financial planner. He shared with me another retirement plan which I also find pretty good. How this other plan works is that again we save up for like twenty-five years, but from the second year onwards, we can get annual cashback if we opt to, until the end of the twenty-five years.

 

If we choose not to get annual cashback, we can choose to get the cashback anytime after the second year. So if we choose to take the cashback after five years, the accumulated amount will be disbursed. At the end of the twenty-five years, whatever remaining (if we did take out some), or whatever we put in (if we did not take out), would be disbursed out in one whole lump sum.

 

I find this a rather good plan too, because whereas the first one ties us for the next twenty-five years or so, the second plan allows the flexibility of taking out some cash in terms of need or emergency. But of course, the first one is better in the sense that it gives monthly disbursements after retirement, whereas the second one gives a whole lump sum straightaway, and once that is used up, that is the end.

 

Both plans are pretty good. Ideally, it would be great if I can get both. But right now, with my studies that will hopefully finish by next year, I am a bit tied up with liquid assets as I need to put aside for my course fees, and other things, as well. Perhaps in early next year when I can foresee I will not have that many obligations, I can take up both plans before my next birthday then I do not need to pay more.

 

Hopefully I can cover my retirement too, so in the event I am all alone and die alone, at least I know I can be self-sufficient and not depend on anyone to take care of me!

Another Investment Plan

Today I met a financial planner recommended by my friend for lunch. I find that he and I get along pretty well, and he is someone I can trust. I know most financial planners are those that have to get along with people and that they are trustworthy, but I have come across a lot of financial planners that are not only pushy, but they get extremely rude when you turn them down. However, this one is just like meeting a new friend. My friend herself is rather impressed with him, if not for the commitments she already have, she would have gotten a policy from him as she was pretty impressed with that particular policy.

 

In any case, I met him and we started discussing investment. The thing about living here is that one hardly have any cash on hand, due to housing loans, car loans, some even study loans. Everything is getting higher except our salaries. But we have to contribute twenty percent of our income to a government portal and the money is to be used for public housing, medical and retirement.

 

I have already invested part of that a few years back, and during the 2008 bank run, I lost quite a bit. Luckily, my existing planner did a switch and now it is recovering, albeit slowly. So I managed to salvage that.

 

Right now, I have some funds sitting around doing nothing. I cannot utilise that nor withdraw. Since I am not entitled to get a place of my own as yet, and even if I am entitled to there is not enough for the cost of housing here, I decided to invest a bit more to gain more returns.

 

Hence I asked for advise and was given a very good plan. Nowadays insurance agents not only have to give financial advise, they also have to be stockbrokers! With the funds I have, I can invest 30% into blue chip, 30% into Global Markets, and the remaning 40% into local and Asian secured stock. And these are very well-established stocks from very good companies, so the returns will be quite a bit!

 

With that, I asked him to help me register for the investment plan. Hopefully I can generate returns faster so my money can grow faster, and I can at least have a bit more for my "dream" house in the near future! Keeping my fingers crossed that the economy will not have anymore drastic changes!

Of Travel Insurance ...

Since we are on the subject of cash withdrawal overseas, it reminds me of another travel-related money issue - Travel Insurance. I have never bought any travel insurance whenever I travel, which I believe most people will cry out in shock at this. I always thought travel insurance is not necessary because so far, I have been very blessed whenever I travel on my own, and what can be better than God Himself watching over me and ensuring nothing happens to me?

 

However, before I went down under, I was toying with the idea of getting a travel insurance. I should have gotten travel insurance before I went to Borneo, but I just got terminated from employment and wanted to save up more money for the actual trip. Yet I managed to go there and back unscathed.

 

I never had any idea how travel insurance really works. After paying for the insurance, what then? If nothing happens to me and I come back in one piece, would I not be throwing money away since that cannot be claimed? But if something happens, then what? Am I able to claim back the full amount? Or will the claims be settled immediately instead of months later?

 

I was curious, so went to check out the various travel insurance packages. I got a shock when I saw the amount needed to cover Australia. It is Australia after all, not some backward place with no hygiene and structure, so why in the world would I need to pay so much for a week's trip?

 

I would be going to a relatively safe place, I would be taken care of by my relatives, and I would be going to a place where it is relatively easy to go around in on my own. So do I really need travel insurance of that amount?

 

Hence, I did not get any for this trip. Then I realise travel insurance is not just if something happened to you like you got robbed or whatnot, but also if you get sick while overseas or after coming back, it is still claimable. Still, I was not willing to pay so much for just a week's trip. And luckily nothing happened to me.

 

Having said that, I may start buying travel insurance whenever I travel from now on. One really would not know what would happen anytime and my good luck may not be around forever. If I do not buy it is good money saved, but if things are to happen, no amount of money can ever make up for it. And if I do buy, and nothing happens, it is for a piece of mind knowing if anything was to happen, I can be covered.

 

So I guess getting travel insurance is still a better option overall! A little investment can go a long way indeed!

Withdrawing Cash Overseas ...

Whenever I go travelling, I always ensure I change enough currency to last me throughout the trip. This can get rather troublesome especially when you go on a long trip (like two weeks) and the currency is big. For instance, when I went to Japan for a two-week skiing holiday, I changed about two thousand dollars into Japanese Yen, which became a hefty sum, and I was on my toes all the time worrying if I would get robbed.

 

Luckily Japan is a generally safe place. So is United Kingdom, New Zealand and Australia. But when I was in Sarawak recently, I also brought quite a big amount (in Ringgit). Even though I did not need to use much to change into Ringgit, still because it was Malaysia, I was worried too.

 

When I was in Sarawak, my fellow travellers sometimes asked to go to a cash machine to withdraw cash. I have heard about cash withdrawal overseas, and that our bank cards are all authorised to withdraw cash overseas. However I have never tried it for myself. I always changed enough cash (with a bit of surplus for emergencies) for the duration of the trip, and limited myself to spend only the amount of cash I was carrying and not more. Cards are used only for emergencies. This is a good way to save money overseas, otherwise one could go crazy buying and buying.

 

When I saw people withdrawing cash overseas, I started being curious and asked around. One of my friends told me that we can all withdraw cash overseas using our bank card, but the bank will deduct charges for each transaction, so she always tried to minimise her transactions.

 

For instance, if she goes to Malaysia, she would carry just enough for the first half of the trip. After she runs out of money, she would go to a cash machine and withdraw cash for the second half of the trip. She would draw enough so she need not withdraw cash again for the duration of the trip, and the bank would only deduct charges only once. The funds would be automatically coverted into the local currency via the bank, and the money she received would be in the local currency.

 

I think that is a good idea, but personally, I am reluctant to use it if the bank deduct charges. I much prefer changing a lump sum and then bringing the money over, so as to prevent unnecessary deduction of cash.

 

Of course, there are pros and cons. The pros is that by bringing lesser amounts, it may be safer to travel as one may not be a target to theft and robbery, especially when travelling alone. The cons is that if the money runs out, one would then need to look for a cash withdrawal machine and incur bank charges.

 

By bringing more amounts, the pros is that we bring enough to get by and so really limit ourselves to what we brought, hence prevent unnecessary spending and bank deduction charges by withdrawing cash overseas. But the cons is that if we ever get robbed (touch wood!), then those money would be gone and there was nothing we could do as we are foreigners.

 

Which is better? Change money and bring overseas at one go, or not bring so much and then withdraw cash overseas if need be? Well... I guess that really depends on one's preference. Maybe next time I would bring enough to get by, and if need be, do an overseas cash withdrawal just to see how that works, instead of using card. That may be the best solution.

New South Wales - Guided Or Self?

Since I will be going down under to see my brother and my relatives, I thought of touring around at the same time. Each time I had been to Sydney (and that is only twice, once for a family trip when I was eleven and the other for my cousin's wedding ten years back), I was mostly with my relatives so did not get to actually travel around, even though they brought us to Queen Victoria Building, Opera House, The Rocks, Darling Harbour, Manly Beach, Olympic Stadium and part of the Blue Mountains. Otherwise I did not get to know Sydney as we did not really travel around.

So this time round, I wanted to travel around a bit more since I would be there. My parents have been there a few times ever since my brother went to Canberra to study, my other relatives have also been there many times ever since my cousin married and moved to Sydney, and even my maternal grandmother have been there twice, but I have never actually gone there on my own. Which is why I am taking the opportunity to wander around Sydney and getting to know the place.

When I was researching on what Sydney offers, the main things I wanted is to have a Sydney harbour cruise, Sydney sights and beaches, Blue Mountains trip, climbing the Harbour Bridge and attend an event at the Opera House. 

I shortlisted three tour operators. First, a cruise that will bring me to Sydney harbour, the penal colony at Goat Island and Fort Denison, as well as the seaside mansions of Sydney's eastern suburbs. Second, a day trip that brings me to all that Sydney can offer, and third, a Blue Mountains day trip that covers a wildlife park, Blue Mountains and Three Sisters, Skyway ride, and passing via Sydney Olympic Park and a river cruise on the way back.

Then my uncle told me about whale migration that occurs only from May to October each year. Since I would be going in October, he told me not to miss the whale cruise as this would probably be the one and only time I actually get to see a whale! So I decided to register for that too.

Then I made a comparison. Since I have already registered for the whale cruise which will depart from Sydney harbour anyway, I need not register for the other harbour cruise. The whale cruise cost me A$79 and the harbour cruise (including lunch) would cost me A$89. A$10 saved, and for a country whose currency is stronger than mine, that is quite a bit saved.

The Sydney sights tour will cover the whole business area, eastern suburbs, Manly Beach, Bondi Beach, Hyde Park, The Rocks, Opera House, Sydney Tower and whatnot for A$99 (and that is already the cheapest around). However, all these areas can be easily accessed by public transport, and I must say, Sydney has one of the best public transport systems in the world. All I need to do is to buy a weekly pass for A$51 and I can travel on the train, light rail, bus and ferry anytime and any day unlimited for the week! So this already saves A$44. Besides, I have already bought a ticket to watch an opera at the Opera House, so I can see that for myself.

As for the Blue Mountains tour, the package is A$155, including the Wildlife Park, Skyway and Cableway rides, lunch, Olympic Park and ferry back to Circular Quay. However, the Wildlife Park, Blue Mountains and Olympic Park is easily accessible by train, so if I go on my own, I only need to pay A$27 for the Wildlife Park, and A$62 for the Blue Mountains Explorer bus, where I can take the bus round Blue Mountains and get off at any attraction I fancy. Olympic Park is free, and if I top up another A$10, I get the weekly pass that covers the Blue Mountains region too! So it is another savings of at least A$66!

Besides, I may meet up with the nice Australian family who helped me out when I was in Mulu. They live about an hour away from Sydney, and the last I checked, the A$61 weekly pass covers their area. So buying the weekly pass is really worth it and cost-savings, than if I am to pay individual fare on every public transport!

Regarding the harbour bridge climb, there are climb packages that bring you directly to the top of the harbour bridge. But these cost at least A$198.00 depending on the pace, type and time of the day one makes the climb. However, there is a Pylon Lookout at the Harbour Bridge, where you also need to climb to the top to see. Although not the actual bridge climb, the view would still be spectacular, and you get to move from one end to the other end of the bridge. Pricing? A$18.50 to go up. Calculate how much you can save.

So with the same itinerary, here is the breakdown :

Weekly pass for public transport, including all regions for trains, light rail, buses and ferries - A$61.00

Entrance to Sydney Tower - A$18.20 (40% discount if one books online)

Opera ticket at Opera House - A$65.00

Madame Tussaud's Sydney and Sydney Aquarium - A$49.50 (40% discount if we buy combo tickets online)

Harbour Bridge Pylon Lookout - A$18.50

Whale Watching Cruise - A$79.00

Featherdale Wildlife Park - A$27.00

Blue Mountains Explorer Bus - A$62.00 (including three one-way rides up and down the Scenic Railway, Skyway and Cableway, with a free map, guide and brochure)

Entrance to Olympic Park is free and the river cruise is also free as the weekly pass covers all ferries as well.

Total = A$380.20

If I am to book the day tours, the breakdown is as follows :

Weekly pass for public transport - A$51.00

Whale Watching Cruise - A$79.00

Sydney Sights and Beaches, including central area, eastern suburbs, Hyde Park, Opera House, The Rocks, Darling Harbour, Circular Quay, Sydney Tower, Town Hall and Royal Botanic Gardens - A$99.00

Blue Mountains tour, including Featherdale Wildlife Park, Blue Mountains and Three Sisters, Lunch, Scenic Railway and Skyway, Olympic Park and River Cruise - A$155.00

Opera ticket at Opera House - A$65.00

Madame Tussaud's Sydney and Sydney Aquarium - A$58.00

Harbour Bridge Climb - A$198.00

Total = A$705.00

Savings = A$324.80, which is about four hundred and twenty dollars in my currency. What can one do with four hundred and twenty dollars? I can feed myself for three months!

Of course, if I am to go on my own, then lunch and tea would not be included, and there would be no transport provided as well, unlike the day trips where meals are included. But I do not think my meals will cost four hundred dollars for a week, and I already plan to get a pass that covers all areas! So it is still great savings overall! Furthermore, this way I have the flexibility of choosing where and what I would like to eat, instead of going to a designated place and eating a designated meal that was already arranged.

This plan is only for Sydney. I have not made a comparison of the cost for Canberra because all their interesting places are around the city area and within walking distance from each other, and most of the attractions are free anyway. However, if one wish to go a bit further, then would need to pay a bit. According to my brother, Canberra's public transport is nothing like Sydney, so he said he better rent a car to drive me around when I am there.

So for those planning to go to Sydney, would it be a better idea to go on day trips or to go on your own? It is really your own preference. Going on your own means you have to research the place thoroughly and get familiarised with the transport system, know when to get down and which pass to get. Going with a guide means you only need to sit back, relax and listen as he tells stories of the Australian culture and history of the place. 

If you prefer your vacation to be hassle-free, then by all means go with a guide. But if you are more adventurous and prefer to explore on your own, not to mention save more money, then it is a good idea to just go places on your own, as that is a good way to learn and experience instead of a rushed trip.

The "Truth" About Local Living

As a further research into household income, I am assuming if someone wants to buy a place and a car together. In my previous post, I mentioned that imagine if the combined income of a couple is S$8,000.00 (maximum cap for public housing), and say the property costs S$600,000.00.

With S$8,000.00, there will be about S$1,840.00 per month in the Central Provident Fund. The downpayment will be S$60,000.00, remaining payment S$540,000.00.

If the couple is buying the flat for the first time and they bought a flat near where one of their parents are staying, they can get a grant of say S$20,000.00. Hence, the remaining payment is S$520,000.00.

Out of these, the couple can only get eighty percent of a housing loan, making it S$416,000.00. So the remaining S$104,000.00 still has to be paid via cash or Central Provident Fund (if enough).

Now for the monthly repayments. Imagine the tenure of the housing loan is thirty-five years (the maximum), and the annual interest is 2.5%. So for thirty-five years, the interest will be S$364,000.00.

Which means the monthly repayment will be (S$416,000.00 + S$364,000.00) / 35 / 12, making it S$1,857.14 per month. Assuming the couple does not utilise their Central Provident Fund because they rather save it as their retirement fund, this is the amount they have to repay each month.

Now, if the couple decides to buy a car. Assuming they buy a normal sedan at say S$70,000.00. If they are able to get a loan with an interest of three percent and a tenure of ten years, the total interest will be S$21,000.00. So the monthly repayment will be (S$70,000.00 + S$21,000.00) / 10 / 12, making it approximately $760.00.

If we round up the housing repayment plus the car repayment, it will be S$2,000.00 + S$800, making it S$2,800.00 per month. That is assuming the couple really has a combined income of S$8,000.00 per month to play with, otherwise things will be really tight after paying for the flat and the car.

So if both are working and the cost is split, assuming both are earning four thousand every month, each has to come up with S$1,400.00 per month. After deducting the amount put into the Central Provident Fund, the take home income per person will be S$3,080.00.

Hence, with the take home income minus the monthly repayments, each person will have just S$1,680.00 left for the month. If they wish to save up ten percent (make it five percent per person), they only have S$1,596.00 left for the month.

That is if all things are equal. This is still excluding household bills like electricity, telephone, parking (if any), marketing, food, water, allowance to parents, own expenditure, ad-hoc things. All things considered, they can well just have approximately S$1,000.00 left each month.

What about insurance? Assuming one pays S$300.00 per month for insurance (and that is quite low already actually), this makes it S$700.00 per person. It is able to get by with S$700.00 per person.

Assuming the monthly expenditure of someone is S$400.00 (that is if they really scrimp and save), they will still be able to have S$300.00 left. That is not including the inflation rate through the years. Imagine if the cost of living has become higher and the income still remains the same yet still have to service the same payments, things may just get tighter and tighter.

And that is just with the couple alone! What about if the children come? Whatever extra after all household bills will go to the children. How is anyone really going to save up, if one does not earn at least five thousand per person? Even with just four thousand per person, expenses are already going to be pretty tight.

They have to continue the payments for ten years, after which they still have to pay off the housing loan after the car loan. If they are lucky, they can sell the car after five years, then use the money to repay the car loan and perhaps have enough for a new car. Or they sell off the flat after five years, then make a profit from it, using the money to get a new flat and pay off the existing loan.

Because of this, despite many of my friends hoping to be homemakers, they have no choice but to continue working, as without a dual-income, it is really difficult to raise a family and maintain a household. Unless the girl happens to be lucky and the guy holds a high-flying job that earns him a five-figure sum, or he is the heir of some big family business, otherwise many households just have to make do with a dual-income, public housing and just one car.

These are just the basics. What if the couple wants to have three kids, and want all their kids to go to good schools, be educated in sports and music and be all-rounders? More money will then be forked out to send the kids to the various lessons. And they may want to travel once a year too. Without a decent income, all these are not that possible.

So if I do not get a raise in the next few years, either I have to fight for it, leave my job for something better (if possible), or else forgo owning my own property and car and continue staying with my parents!

Switching To A More Trustworthy Planner

I am convinced that my decision to change my financial consultant is the right one. Shortly after I transferred my policies to my friend, my original consultant called me and asked me the reason why I changed all of a sudden. So I told her no one was monitoring, and she claimed even though she has her hands full, she did ask someone to monitor.

So I said if someone was monitoring, how come no one told me I made a loss? I cannot afford to make another loss! She claimed it was just paper loss, everyone made loss, economy is recovering, things will get better soon, etc. She said both she and her friend are in the industry for a long time, as compared to my friend, so who would I trust?

Sorry, but I trust my friend because he has proven himself time and again that he is trustworthy. Whereas she come to me when she wanted to push a sale, and then totally forget about me, and now that I have changed a consultant she suddenly called me again after being missing in action for almost a year?! What kind of attitude is this? Thank goodness I switched over when I did!

Legacy Planning ....

Last night while talking to my friend, I was thinking of whether I have enough coverage. I still have a couple of policies from my previous insurance firm, which I was thinking of surrendering but was advised against.

Currently, I am thinking of taking one that caters to women, but he gave me one that is less expensive and still caters to major illnesses. He advised that the plan I am eyeing is better for married ladies and parents-to-be as that gives comprehensive coverage to the unborn child from birth defects, if any.

I am already covered for major illnesses, hospitalisation (government and private), savings and investment, life and health. I do not need anymore medical or major illnesses. What I need is more savings and investment that can generate good returns and not keep making losses, but I seem to have enough savings plans already.

Hence I took up one more policy on legacy planning. How this plan works is you pay a certain premium for ten to fifteen years (depending on how much you are covered), then after that no more payment for the rest of your life. You can just sit back and enjoy yearly disbursements. A year after you take up the policy, you are also entitled to bonus cash back, until after the tenth or fifteenth year and you just reap the fruits.

You can either opt for yearly cash returns or keep it until the end of your life, and that policy will then be transferred to your child after he turns twenty-two. He can then opt for yearly cashback or keep until the end of his life, after which the policy can then transfer to his child upon the age of twenty-two. So this policy can go on for three generations.

Sounds too good to be true right? I had my doubts too. Initially when I saw the presentation, I thought it was too good a deal, after all, I only pay for ten to fifteen years, will there be enough money to have yearly cashback until the end of my life, and still have enough to transfer to my next two generations?

But when I took a look at the black and white, everything is stated. Really sounds too good to be true. But it is a very good idea to start planning for my next generation, however far off it sounds. Afterall, the policy can always be transferred to my next of kin if I happen to die intestate and he can then use it for his next generation.

Hence I took it up. Mine is already on the low end of the scale, but in the event I do have a family, I can always increase the premium again to cater to my next generation. Hopefully this covers all bases and I have enough on my plate now!

Do Not Put All Your Eggs In One Basket

Recently I had a feeling something was wrong with my insurance policies. The agent I was using is actually my friend. When she left the original insurance company I was under, she moved my policies over to her new company. Since then she had been rather pushy when she wanted to hard sell, but left me alone when there was nothing to be done.

Last year I got to know a guy who later joined that company. I find him rather good to speak to and he comes across as sincere and genuine, none of that hard selling and pushiness. Plus he really goes out of the way to help. Hence I transferred all my policies over to him, and asked him to check out and give his professional advise.

Last night he told me that something was indeed wrong with my investment policies. Due to the financial crisis last year, my investment policies have lost quite a bit. That is very bad news indeed! After my loss last year, I thought things are at least getting better, but now even my CPF funds have made quite a loss!

He said because I put all my eggs in one basket, as advised by my other agent. Hence, he has to transfer all the funds out and put them into different funds so the risk is lower and returns higher. But it will take another few years to break even at least, let alone generate returns!

I gave him carte blanche to do as he pleases as I have been under him for a year and he has proven to be pretty well-versed in his industrial knowledge, much better than the other agents I have come across. The few friends I recommend him to all sing praises of him too!

What really pisses me is that my other agent did not bother telling me I have made a loss! Even as a friend, she did not deem to let me know. If I did not have the gut feeling to check out the policies, I would never have found out! She was so pushy last year when she wanted to introduce a new product, and kept pressurizing me to set up an appointment with my mum and her together until I really lost my cool, but when it comes to things like this, she did not even tell me?!

Now I can only keep my fingers crossed that everything will start to be well again and I will not make too big a loss this time! I depend on those to buy my own place and retirement next time, so they have to grow and not lose! A lesson learnt : never ever put all my eggs in one basket!

The Central Business District

In my younger years, I could hardly wait to get out to work. Which was why I took an accelerated course in the university so I could start working and earning my keep fast. A stupid idea, now come to think of it. I should have just taken my time and enjoyed myself more. What possessed me to want to get out into the working world so fast, now that I wish I can go back to be a full-time student?

I guess I was captivated by corporate warriors in their corporate suits, fighting fire during board meetings, making themselves seem so important. I yearned to be like that. Why, I have no idea! I just thought it will be a sense of achievement to be one of those suited executives making boardroom decisions.

My first job was not a suited executive, and I did not make boardroom decisions. In fact, I was often thumbed down whenever I had ideas but they were not in line with policies and rules and procedures. I went in with the basis that I had a passion for the job, but after a few years, I could stand it no longer and decided to leave.

Hence I started fulfilling my childhood dream of being a suited executive in the business district. But reality is not the same as fantasy. I realise there is no need to wear any suits in the office. Even the men do not wear suits! I do not even need to wear the frumpy blouse and A-line skirt combination! And unless you are a director of the company, otherwise you never have to make any boardroom decisions.

I learnt that very early and was a tad disappointed. What really disappointed me further was I never even had to make any decisions, just had to follow instructions. After being able to make some decisions and having autonomy in my first job, it was quite a big change from being a sort of a leader to a mere follower. But work is work, unless I can live on air, otherwise I just have to do it.

Through the years, my career has been bouncy. I tried working in various places, but either I do not have the appropriate qualifications nor the experience. Until my big break came three years back. At that moment, I wanted so much to get out of the business district, and my wish came true, as I found a job that not only helped my career, but made me learn a lot and it was out of the business district as well!

I would not have left save for the unhealthy working environment which got worse through the years. Furthermore, I started to feel stagnated after two years. I have learnt whatever I could there and it was time to move on. Hence, a better job offer came at the right time, and now I am back to being a corporate lady (not a suited one though) in the business district.

I have forgotten how expensive things are in the Central Business District. I took for granted in my previous company, there is a convenience stall next to the building, so I could always go down for a tea break, buy some snacks and candy, and have my daily dose of chocolate. Then I cut down since I thought the things there are expensive.

Until I went back to the business district. Now, there is a convenience stall next to my office building too, so I go there sometimes to buy snacks and candy. However, the same items cost almost twice as much here as compared to my previous place! Five dollars could buy me quite a few things in the past, whereas now I can get only two items at the most!

The advantage is that because it is the business district with a very big lunch crowd, there is no lack of eating places here. Even though the place can get very crowded at times, at least the food is nice and cheap. There are no lack of eating places at my previous work place too (although not as much variety), and much less crowded, but the price of the food there is a killer! Now I can take the same food and quantity at just half the price! So I guess that kind of balances out!

Luckily my office is at the end of the business district, so the crowd is not that bad, as compared to the beginning and middle part. I used to work around that area, so I could hardly wait to get out of there as I felt so claustrophobic and uncomfortable due to the lunch crowd. Now that I am a bit further down, things seem better - for now that is!

Global Economic Crisis Lecture

I was supposed to update this last week after the lecture, but kept procrastinating. :-p In any case, it was a pretty informative lecture. I learnt a lot and able to see things from different angles. The lecturer is a medical anthropologist (I still cannot get used to this term!) who had extensive experiences in America, Hong Kong and Asia in general.

The lecture is called "The Global Economic Crisis and Moral Changes", part of the inaugural launch of an initiative between Harvard University Asia Center, Nanyang Technological University and Universiti Tungku Abdul Rahman of Malaysia. The entire session was preceded by a buffet reception, then started with a welcome address by the Acting Chair and Head of Economics of the School of Humanities and Social Sciences.

Then there were speeches by the lecturer, by the founder of a charity fund, by the guest-of-honour our Finance Minister, followed by the signing of the Memorandum of Understanding, the citation of the lecturer by the Head of Sociology (very impressive resume of the lecturer), and finally the lecture itself, concluding with a Question and Answer session.

The lecturer first touched on the dangers of global economic crisis and moral changes. There are macrosocial dangers (economic turmoil, political dangers like forced migration, repressive regimes, ethnic violence, conflict / post-conflict situations), natural dangers (hurricanes, tsunamis, tornadoes, earthquakes), microsocial dangers (loss of loved ones, divorce / breakdown of the family, financial insecurity), medical dangers (health catastrophes, accidents, chronic and degenerative diseases, severe disabilities, end of life conditions), and the 2009 global financial and economic crisis dangers (joblessness and unemployment, careers on hold, bankruptcy and serious debt, business failure, faltering trade and interference with globalisation, failure of trust and confidence, demoralisation and fear).

The next point touched on morals, and what is the "moral"? Moral is about moral experiences and moral life. Moral experience is about life and values, which relates to moral life. Moral life also relates to wrong moral experience, as well as the negative value changes in response to the financial crisis, like intensifying the clash between traditional and modern values, heightened individualism leading to increased selfishness, as well as the increased gap between the rich and poor due to globalisation.

However, there are also positive value changes in response to the financial crises, such as improvement of women's role as respected providers and caregivers, growing critique of materialism and consumerism as well as search for ethical, religious and aesthetic values. However, moral is not the same as ethical, as moral experience can be malign, whereas ethics can be a professional discourse.

Then he touched on recent developments in global mental health, heroic (individuals that take risks and make commitments that make their lives more difficult, rarely coming into social consciousness as moral exemplars), anti-heroic, morality and care-giving, positive responses to the financial crisis (taking a long-term view, balancing spending and saving, balancing traditional and contemporary values, rethinking metrics of "success", renewal of endurance), and finally the medicine and science for global health.

All in all, the lecture was pretty interesting and informative. The lecturer himself has a sense of humour too! However, I am not one that grasp the concept of economics, demography and finance very well, so I do not quite understand every part. Still, it was a pretty good exposure and I learnt a lot more after attending this lecture!

Transportable Program

I attended a lunch time talk today organized by my company, on Transportable Insurance Coverage. The talk is a short overview of what coverage the company offers, especially if we are to leave our current company. In other words, where the company’s insurance coverage only applies when we are still employees, this coverage will cover us even if we are to leave the employment, and carried over to the next place of employment.

This is a good idea! Instead of having to go under the coverage of a totally new policy altogether, we can carry over our existing policy at corporate rates! The coverage looks pretty attractive too! Although I have a feeling it benefits more for families, like coverage for myself and my spouse, my children, parents and in-laws. Somehow it does not talk so much on coverage as a single person and for your parents. Hmmm…

It is good that everyone is pro-family nowadays, but singles like me are feeling more and more left out. Does it mean to say we are not entitled to the same priviledge? And it is not as if I am single by choice, I just have not found anyone suitable enough (and vice versa) to have a family with.

But I must say, the representatives giving the talk is really customer oriented! The talk is free for the staff (whoever who signed up at any rate), and a small buffet lunch consisting of rice, vegetables and meat (a balanced diet!) is also offered. So we ate and listened at the same time. Around the end of the talk, the guy in a suit and tie went around to everyone, helping them clear their plates and drinks. Now, this is good service!

No Money, No Marry

Got this article from a friend. Some food for thought.

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Local men, listen up. According to a survey conducted by the Shin Min Daily News, women in Singapore require that their prospective partners earn a minimum of $4,000 to $5,000, before they will consider marrying them.

Local TV artiste and compere Quan Yifeng discussed this issue on a talkshow programme recently. The topic was about "How much should a Singaporean man earn" and how much is enough?

The three female guests invited to speak on the talkshow agreed that a good amount would be between $4,000 to $5,000. A shocked Quan Yifeng quipped: "No wonder Singaporean men can't get wives."

A local netizen posted this topic in an online forum in May. Till today, the topic has raged on, with many forummers posting their comments and opinions. The thread has accumulated more than 200 responses so far.

Regarding the minimum that a man should earn, a reporter from the Chinese daily posed this question to 20 men and women. Most of them said that having a salary that is good enough to sustain your lifestyle would be sufficient. However, most agreed that $4,000 to $5,000 is a "reasonable amount" if one is thinking of setting up a family.

Without that minimum amount, they reason, it would be difficult for a man to support his wife, let alone think about having children and allowing them to grow up in a comfortable environment.

The men say: "I would say the same too"

Mr Su Jun Long, 27, an accountant, earns $2,400 per month. He says: "I am not worried about not finding a wife, especially not a materialistic one. Actually, it is not important how much I earn, but more of how much I spend. However, when I am thirty-plus, I would also hope I am able to earn a minimum of $3,000 and above."

Mr Zhang Yi Zheng, 26, an auditor, earns $2,100 per month. He says: "$4,000 to $5,000 is a reasonable amount to expect. But at my age, it is normal to earn only $2000 plus. My girlfriend earns about the same amount as I do."

Mr Huang, 30, an IT personnel who earns $2,500 per month, says: "Contentment is key. Money is a factor, but it should not be the main consideration. Having a low income would be a problem too, so a salary of $4,000 to $5,000 is not too much to ask."

The women say: "It is just enough to support a family"

Ms Shen Yu Tai, 27, a bank officer, says: "Actually, $2,000 is enough. But it is understandable that women would require their husbands to earn $4,000 to $5,000. After all, we all want to be able to live a comfortable life. That amount is required to start a family as well."

Ms Pan, 27, a writer, says: "It is not important how much he earns, but he must be good at saving. The salary ranges for industries differ, so there shouldn't be a specific requirement, as long as he earns above $2,500.”

Ms Tan, 30, a customer service officer, says: "Realistically, an income of $4,000 to $5,000 should be expected. Generally, as long as you have a degree, and have worked for a few years, you should be able to draw that amount."

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Looking back, in my younger years, I was contented with just a meager salary. My starting pay is definitely not as high as compared to a lot of people, because I have no honours, no army training and no technical qualifications. Thus, for a government servant, mine was considered the lowest of the range.

My then-boyfriend gave up a job with a high starting salary to take one with a lower starting salary, even though he would earn a bit in commission and allowances, depending on where he went. So, after some calculation, both our incomes combined together barely made S$5,000.00.

Then the guy after that did not even work full-time. He took on a series of freelance jobs and worked on a project basis while undergoing his second degree. So it was mostly my income. Come to think of it, how in the world did we, or I, survived?

Maybe the older we get, the more established in our careers we get, the more affluent we get, we tend to want a better lifestyle. Afterall, if you have reached a certain kind of standard, you will never want to go back to those kind of life again where you have to struggle to make ends meet.

So even though I am earning more than before (not that it is a lot in the first place), personally I will still like a guy who earns a certain income. In any case, a normal graduate in a normal job at this age will be earning at least a comfortable income. By comfortable, I mean an income that can support the whole family in the event I may stop work for whatever reason.

Even if we can cut down on things like dining out and travelling, stay in just a normal flat with bare furnishings, the flat alone can cost quite a bit. Not to mention a car. It is still much more convenient to go around in a car, especially when we need to do grocery shopping or have to bring the kids or the parents elsewhere.

Okay, I am being a tad calculative now, but truth be told, after what my friends told me and the reality of how much things really cost, we really do need quite a substantial amount of savings plus a comfortable income to sustain a family.

Those things I said in the past about just surviving on love alone was really childish. True, love itself can overcome many things, but when a couple already has to deal with things like differing lifestyles, in-law problems, differences in backgrounds, work and living together, bread and butter and financial issues should not add to their problems.

Hence, is it really being materialistic if we ask for a middle-income earner? Like I told my friend yesterday when I asked her how she spent her Valentine’s Day, I do not need someone to shower me with gifts or flowers or dining out at high class restaurants. I also do not need someone gorgeous or from a filthy-rich background. Just someone who can be responsible and financially sound enough to take care of the family.

After all, when we are living a life together, we cannot say we do not have enough money to pay the housing and utility bills on time. If we are going to have kids, I cannot just say I do not have enough money thus do not go for pre-natal checkup, or ask the baby to come out later when I have money. Or when the baby is hungry, we cannot just tell the baby to eat later as we have no money for milk.

I do not want to just have kids and that is it. If I am to have kids, I want to ensure they get the best in life in terms of experience and upbringing. I want to be able to do a better job than my mother, and give my kids more than what my mum had ever given me. Which is why I need someone with a sound financial basis to be combined with mine.

This is not being materialistic. Materialistic simply means expecting the guys to buy all the expensive things all the time, and expecting more and more and never enough. I want enough money to give my family a firm foundation in life, so they can grow up to be interesting, knowledgeable, smart and sociable people, and not the kind of “dubious” people I tend to meet.

Budget 2009 Essay Competition

I have gotten myself busy with a new project. I received a mailer from my school about this “Budget 2009” essay competition, and I have just signed up for it. After going through the objectives, I realize I know very little about financing issues, whether personal or the country or the economy.

So if I am to submit an essay, it will be very risky because it will only reflect how inadequate I really am. In that case, why must I sign up for it if it is something that is not in my area of expertise.

Firstly, I have always wanted to be more financially savvy, especially after getting my fingers burnt. In order to do that, I must know how to budget for myself. But personal budget and income is dependent on how the economy functions. And how the country’s economy functions is dependent on how the world’s economy outlook is like.

With the rapid downturn in economy which does not seem likely to recover, our government is breaking all precedence and tapping into the country’s reserves. Not just the government, companies are now also adapting measures to try to cut cost.

I see it in my own workplace, as well as those my friends are working in.So in order to cope with the projected deficit, one has to know how to manage monetary resources and come up with strategies on how to stretch every dollar. If I can achieve that, then I believe it will be greatly beneficial to myself, and things will flow smoother henceforth.

In order to come up with a good essay, I must learn everything that is to learn about whatever that has been going on. Even if I do not win (very unlikely anyway), the research, readings and brainstorming I go through will benefit me greatly. I will sure learn a lot more through this experience.

Which is why I signed up for it. Not because I aim to win, but because of the entire learning process and the intense knowledge gained from there. The submission date is sixteenth February, so I only have a few days to do all my research and come up with a good essay!

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Money Changer ....

I came across an amusing thing when I was taking a cab one morning. Attached to the dashboard was a sign “No change for $50 between 7 – 9am! I am not money changer!” I guess there are problems with cabbies running out of change if everyone gives big notes. As a cabbie, I am sure he will appreciate loose change instead of big notes, although at times, when one is in a hurry to get to work, they really may have no smaller change available.

I experienced it a few times too – when I only had a fifty and the cabbie had no change, I would either pay by card or he had to bring me to the nearest ATM to get change. Woe betide if the ATM itself can only give out fifty dollars instead of twenty! I ever had a cabbie who had to bring me to another ATM quite a distance away just to get loose notes, then drive me back again! They have to do that, otherwise the passenger can always threaten not to pay!

By right, if service providers cannot even provide loose change, then the customer does has a right not to pay, as it is on the onus of the service provider to provide good service, including foreseeing circumstances where the customer has only big notes and no small change. The service provider should be the one providing the loose change instead, but then judging from the general attitudes of our local service providers, seems that we as customers are the ones who have to spoil them instead of the other way round.

I was reflecting on this incident when I withdrew a lump sum yesterday, as I intend to change money today. The counter staff at the bank was really good, instead of giving me loose notes of ten or fifty or even hundred, she said in order to make things easier so I would not make it look like I am carrying so much cash around, she actually gave me thousand dollar notes instead.

Wow, first time in my life I ever came across a thousand dollar note, whether in local or other currency! (Countries where the currency goes by thousands do not count.) The lady very kindly gave me in thousand dollar denominations, so I jokingly said I better not get robbed that day, and she scolded me jokingly.

Incidentally, our thousand dollar note is purplish blue in colour, a tad darker than our two dollar note. Five dollars is green, ten dollars pinkish red, fifty dollars blue. Now what is hundred dollars then? I hardly come across a hundred dollar bill as well, so I cannot remember what colour it is already!

Anyway, I was guarding my bag very tightly yesterday, all the way from my office, out to dinner and home. Today when I went out, again I was guarding my bag very tightly. I cannot wait to go down to the money changer after work to change the currency! When that happens, I have to start guarding my wallet very tightly again, because Japanese Yen comes in thousands! Hundred Yen is almost as good as worthless! Which means I can easily have about a six figure sum with me! I really must tighten up on security!

Trying To Stretch Every Dollar

I have been too comfortable, that I admit. In the past when I went travelling, it is mostly with my parents. Most of the time they paid for me when I was younger, then in recent years when I started working, I started paying on my own. Still, I just gave a lump sum to my mum and she would handle everything. Even then, it was only on air fare and accommodation, meals were all provided for as my parents paid for all. Whatever souvenirs I wanted to get would be on my own expense.

Whenever we come back from a trip, my mum would do the accounts and see how much we spent in all, then averaging it out with the number of persons on the trip. She always manages to meet her budget. In fact, we always had extra left, which she would then return me accordingly. So when I first went on a trip with friends, I had no idea how much exactly to take along.

That was only a short weekend trip to Bintan, and since all of us had just started working, we did not have that much to spare. Thus we went economical all the way – the cheapest ferry, the cheapest lodging. The only thing we indulged on was the spa treatment and the drinks at night, right on the beach, under the stars. Even then, each of us spent less than S$500.00 for the whole journey.

Which is why when I was budgeting for this Japan trip, I had to take into account just how much is needed. I am never a figures person, so it is quite a headache trying to account for everything. The advantage is that I am travelling with people who are certified accountants, thus I really learnt a lot from them how to go about accounting for everything. All the more since I am the youngest, so I really look up to them.

Now I am at the age and status where I am supposed to have more assets finances wise (but for the recent trouble), not to mention the rest of them are earning far more than me, thus they are going to indulge all the way! If I had not recently cleared my debts, I would definitely have much more to spare, but right now, I need to keep a tighter budget.

Maybe some of you may think I should not be going on this trip, but after slogging away for the whole year, then scrimping and saving just to minus away my liabilities, now that I am finally done with all these, I believe I ought to have a break. A break to start anew, to let go and forget all the troubles incurred during the year. To usher in the new year with new hopes and dreams. If I can afford a trip, definitely I have worked out my sums, except I cannot afford to indulge as much as I would like to. I am not that ditsy!

The itinerary is that I will go to Tokyo on the twenty-third, stay overnight, then take a domestic flight to Hakodate in Southern Hokkaido on Christmas Eve to meet up with the rest of them, go to Noboribetsu on Christmas Day for two days, go on to Sapporo after that for two days, then go to Niseko thereafter to spend the New Year, before returning to Sapporo on the third, where we may spend one day in Otaru, then go back to Tokyo and back home.

Thus, instead of staying in a hotel in Tokyo, I will be camping over in the airport. Instead of taking the limousine bus to the domestic airport, I am going to lug my luggage and take a train all the way. I will not be doing any shopping in Tokyo (a waste, I know, but there will be other chances). All these can save at least 20000 Yen. Afterall, I will only be sort of transiting in Tokyo, not there for a tour per se.

Next time when I can more afford it, I will then probably tour around Honshu island, but right now, the focus is more on Hokkaido, hot springs and skiing. With the budget I worked out, I rather indulge more in the Christmas and New Year festivities in Hokkaido, the nice fresh seafood, the better sight-seeing places and also to buy my pen-pal and her son dinner when she comes over from Yokohama to meet me upon my return to Tokyo. Hopefully I can stretch every dollar as far as it goes!

Messy Channel Of Communication

One never knows how much trouble one can incur unless one really incurs the trouble. Or shall I say some organizations are just internally messy that the channels of communication is not effective? Just last month, I managed to pay off all my outstanding bills, with a ten percent rebate. I received a letter stating that all arrears have been paid and there are no more outstanding amounts, which is good! At least I can breathe a sigh of relief and start over again!

The very next day, I received a letter from the same bank, stating I have a minimum payment overdue which I have to pay immediately. Of course I was puzzled, as I just received the settlement letter the day before! So when I called the bank (after going through so many channels and being cut off all the time), I finally got the person in charge and told her my situation. She apologized profusely and said perhaps the other department has not been updated, thus sent out the bill.

So I said if I am to pay, should you not update everyone so people would not have to keep paying? She kept apologising and said she would let the other department know immediately to stop billing me and that I can just ignore the bill. So I told her that if I ignore the bill, is anyone going to call me for payment, because I have paid in full and do not wish to have anymore calls. She confirmed I can just ignore and there will not be anymore calls.

Good, so at least they have received the payment, then I do not need to keep calling them. But this thing makes me wonder, all those amounts I paid before, were they updated? Is that the reason why I was always told my bill had not been settled despite me knowing I have no more outstanding amount? Afterall, it cannot be possible that late charges and interests can roll over to so much if I have been making regular payments. If this is the way they function, I seriously worry about just how much I have paid and could not get back the extra amount I came up with!

Banking Situations Of The Ridiculous Nature

Now that another banking giant has been bailed out, hopefully the situation will start to improve. How long can the taxpayers continue doing that, I wonder? Because of all the situation in the financial industry, banks are more aggressive than before in case of a run. So I was involved in quite a ridiculous situation.

Before I went away, I deposited some payment cheques. I must have overlooked writing my account number on one of them, so when I was away, someone called me, regarding the account number. Since I did not have the details with me, and it was past midnight over there, I said I was overseas and would check when I was back.

That fellow over the phone really riled me. He said, "Are you sure you are overseas? Your ring tone does not even sound like you are overseas!" He called me when I was already in bed, I did not even kick up a fuss since he was not in the know, but when I told him I was away, he had the cheek to say that? So I told him if he wanted a scanned copy of my passport and boarding pass before he was convinced, and in any case, I could only give him everything when I returned!

When he put down the phone, I called the bank again and spoke to the manager. The manager was rather apologetic and promised to wait until I return. Recently, due to the efforts of the past few months, I managed to save up enough to pay off whatever remaining outstanding I still have, so I wrote a big cheque to the bank.

Before that, I called the bank and asked if I was able to make the full payment, could they then waive off the remaining interest? I was told that I could get a ten percent discount, and even received an official letter on the ten percent rebate, so I wrote out the cheque accordingly less ten per cent.

Today, someone called me again, and asked the reason for the rebate. I said I had the official letter stating the ten percent rebate. Then she told me because my minimum payment did not come in this month, they have to put up to the management and subject to approval whether I could get the rebate as requested.

So I said I am already paying in full, why do they still need to bother about the minimum payment? In paying the amount in full, even with the ten percent rebate, they are still getting back more than what they would be getting if I just pay the minimum, is it not? Why would anyone turn that down?

She then asked how did I get the money? So I said does it bother as long as I pay? She said the management has to find out how did I suddenly get the money to pay. Right... so I said they did not worry, I sure did not get the amount through any illegal means! Ridiculous, is it not? Perhaps someone could suddenly strike lottery and have the money, or perhaps someone could have gotten a windfall, right? Does it really matter?

So I said I did not rob or steal, neither did I pimp or prostitute myself, nor commit murder, nor ask from a sugar daddy. The money is obtained from legal and normal means, not black money. When I did not pay, they come after me, threatening action, now when I pay, they still question where I get the amount to pay? Ridiculous!

Effective Cost Cutting

Due to the recession, people are more aware of how to cut costs. I am getting more aware of it now and learning from people on what to do. Here are some ways to save money which I have come across (although I guess all these are rather common sensical) :

1. Pack your own food

Ever since my return, I have seen my colleagues packing food from home to the office, then during lunch, they will just heat up the food in the microwave and lunch in. This is a very effective way, especially since the price of food around here can be a killer. Saving like a minimum of five dollars a day may not be much, but it all adds up. Twenty-five dollars a week, an extra hundred a month.

Besides, one need not go out and get burnt by the sun or splashed by the rain. Of course, there is no bonding and socializing time with the colleagues. Plus one may get sick of home-cooked food everyday, so perhaps lunch in like two or three times a week and then lunch out the rest of the days. Even though one still spends on eating out, but still, lunching in a few times is better than lunching out everyday.

Some people I know go for the cheapest hawker fare or the simplest food during normal lunch, then with the amount of money saved, indulge in some dining out during the weekends. That is a very good idea.

2. Make your own drinks

When we lunch out, or go for tea breaks, we tend to buy drinks together with the food or snacks. One thing we can do is to stop buying drinks. I do not mean to stop drinking altogether, but since the office has a supply of water, tea, coffee and hot beverages, why bother spending on drinks like these?

Water is the healthiest drink in the universe, much better as compared to soft drinks or caffeine. Drinking water is also a good way to slim down. This is tested and proven. I drink just water instead of soft drinks when I was undergoing the slimming treatment, and that was how I lost eight kilograms within two months!

If one gets sick of drinking water (which can happen because it is also the most tasteless drink in the world), one can allow oneself just one glass of indulgence per week. For me, if I lunch out, I will get barley or green tea just once for that week, the rest of the week get the water from the office. So instead of spending an extra dollar fifty everyday, just spend that extra dollar fifty a week. It may not be much but it all adds up in the end.

3. Haggle and Bargain

I used to think it is not ethical to haggle and bargain because after all, people are running a business too. However, I have come to realize that prices are jacked up, especially when I go overseas.

What my mum always does is to come up with her own price, then negotiate from there. I used to wonder why is she mistreating the poor sales staff, but on the other hand, if they will really make a loss, they will not sell it in the end right? Selling it at a lower price is better than not selling it at all, so if it does not affect them too badly, they rather make a sale, no matter what price, than not make a sale at all.

This is not being a cheapskate. One pays for good quality, but even then, is it necessary to pay so much, that is the question. A cheapskate will try all means and ways to get the best product for free – by mooching off others!

This is something I am still learning, I can never bargain like how my mum does, but at least I have learnt to try to get the best value and not pay unnecessary costs.

4. Misquote your age when necessary

Okay, I am not asking everyone to lie. But at times when the age factor comes in and there is a big difference in the pricing, it helps that people think you are younger than you actually are. :-p For instance, when we went up the Sky Tower in Auckland, an adult over the age of eighteen can cost twice the amount of a student eighteen years old and below.

Perhaps because Asians tend to look younger, or perhaps because my family has the genes where everyone looks younger than our age, plus the fact that we are all relatively small size, when my brothers and I wanted to go up the Observation Deck, the counter staff at the ticketing counter thought we were just students and gave us the student price! Needless to say, none of us disputed that.

What my cousin and her husband did in Tasmania was they removed their wedding rings and passed themselves off as brother and sister just so to get the student tickets! To some people, this may be wrong and unethical. I do not deny that. But there is a difference when people think you are eighteen when you are not, than to say outright that you are only eighteen when you are not. In the former situation, one need not admit nor deny. Just keep quiet, after all it is going to be a one-time thing.

True, it may not be much, but again, it all adds up again. Especially in a tour, one may never know what kind of emergency may arise. So since we have a budget, we just have to try our best to keep to the budget, and if some “tweaking” does not harm, then maybe it does not really matter at the end.

At the end of the day, we just have to see the amount we are earning and what we can put aside for whatever purposes we like. So if I like to travel and see the world and indulge in fine dining as and when, and enjoy life to the fullest, then there are things I simply have to cut down.