[Post 358] How To Stand Out On Social Media | Money Mind | Personal Branding

Summary

How do you build a personal brand that will help you stand out online?

[Post 357] Human Hair Wigs: What Goes Into The Lucrative Trade? | CNA Correspondent

Summary

Human hair is an incredibly versatile commodity. Its numerous uses include cosmetic and hair products, composting, reinforcing construction materials and even pollution control in cleaning up oil spills. We take a look at the origins and impact of the trade in something deeply personal that transforms the lives of many in China, Vietnam and the United States.

[Post 356] Am I Too Old To Start Investing? How To Catch Up | Money Mind | Investment

Summary

You're never too old to invest. If you are young, you have time on your side. But if you think you have missed the boat, there are still ways for you to start to catch up.

[Post 355] Investing In Singapore Bank Stocks: Is Now The Time? | Money Mind | Stocks

Summary

Is it a good time to invest in Singapore bank stocks?

[Post 354] Why Is My Economic Rice So Expensive? How Can I Save Money? | Talking Point | Full Episode

Summary

With over 30 dishes to choose from, economic rice stalls are known for their variety of choice, convenience and economical price point. But of late, diners are complaining about the exorbitant prices of their cai fan or mixed rice dishes. Since January till mid October this year, the Consumers Association of Singapore (CASE) has received 11 economic rice-related complaints, on the lack of price transparency. 

[Post 353] No Sleep, 2 Jobs: Can Young South Koreans Escape Hell Joseon Rat Race? | Asia’s Stuck Generation

Summary

South Korea may be home to K-pop culture and TV dramas, but life for the average young Korean is less glamorous. Millennials and Gen Zs in Korea face high housing and other costs, and there is intense competition to get into top universities - which can determine one’s earning power and career opportunities for life. Many hold multiple jobs, or sleep only 2-3 hours a night.

The pressure is so intense that in 2021, South Korea’s suicide rate was the highest among OECD countries; while others have become hikikomori. CNA Insider meets four young Koreans who are trying to cope and chart their own paths out of the rat race.

[Post 352] Is It Too Late To Revive Dying Trades In Taiwan, Malaysia and Italy? | CNA Correspondent

Summary

All over the world, traditional trades are at risk of disappearing for good as society continues its relentless march into the future. But at the same time, a new generation of tradespeople are doing what they can to revive some of these declining trades.

In Taiwan, we see how locals in a southwestern county are breathing new life into an ancient weaving industry, while in Malaysia, we meet a man who is trying to keep the country's ageing coffee industry going. And in Italy, we look at how craftsmen are keeping Murano's famous glass industry alive, even as the dramatic rise in gas prices after Russia’s invasion of Ukraine has hit businesses hard. But are these efforts sufficient? Or is it too late? CNA Correspondent finds out.

[Post 351] Women Invest Less Than Men, But Perform Better: How To Get Started | Money Mind | Investment

Summary

Why women don't invest as much as men - and what they can do about it, including strategies to begin investing.

[Post 350] Tips To Build A "Cockroach Portfolio" To Weather Different Economic Cycles | Money Mind | Investment

Summary

How do you create a portfolio that is built for survival, just like a cockroach?

[Post 349] Falling Ringgit: How Are Malaysians Managing Their Money? | Money Mind | Malaysia

Summary

The Malaysian ringgit has fallen to its lowest level since the Asian financial crisis. How do you manage your finances, when the value of the currency keeps going down?

[Post 348] Singapore's Biggest Ever Money Laundering Case: How Does It Affect Me? | Talking Point

Summary 

At least S$2.8 billion in monies and assets was seized in one of the world’s largest money laundering cases uncovered in Singapore. How do some criminals clean their criminal proceeds, and why do they choose to do so in Singapore? And what happens to the assets seized? Host Steven Chia delves into the dark world of money laundering to find out what exactly it involves, and how does it really affect you?

[Post 347] Financial Housekeeping And Smart Money Moves For The Year End | Money Mind | Finance

Summary

As 2023 winds down, here are the smart money moves to make to keep your financial house in order.

[Post 346] How To Budget Your Money And Stick To It | Money Mind | Personal Finance

Summary

How to draw up a budget, and why it's never too early to start.

[Post 344] Are Singapore REITs Still A Good Investment? | Money Mind | Investment

Summary

Prices of Singapore real estate investment trusts or REITs have been dropping all year. So are they still a good investment – and how do you spot a bargain?

[Post 343] Meet China’s ‘Full Time Children’: Why Unemployed Youths Are Working For Their Parents

Summary

Amid China’s record youth unemployment levels, some young people are moving back home to work as paid ‘full-time children’. As their parents’ live-in personal assistants, they do simple chores and spend time with them in exchange for free rent or even a salary. Some document their daily routine as part of a viral online trend on Chinese social media. 

But, not every family is fully onboard with this alternative ‘career’ decision. Some ‘full-time children’ report tensions at home and anxieties about their formal jobless status.

[Post 341] What Pakistan’s Debt Dilemma Reveals About Looming Global Default Crisis | Debt Bomb | Full Episode

Summary

According to the IMF, debt is at the highest level in decades. With high interest rates and a global economic slowdown, 60 percent of low-income countries are either already in debt distress or at high risk of debt distress. Pakistan is one country that has gone to the IMF recently for a bailout package. How is the country’s debt burden impacting its people? How is the debt problem further exacerbated by climate change? And what is the role of China’s Belt and Road initiative in Pakistan’s debt situation? 

Pakistan is just one of 70 about countries struggling with a debt burden. With debt repayment expected to go up in 2024, will we see a global financial contagion and a deluge of defaults?

[Post 338] How To Reduce Your Income Tax Bill In Singapore | Money Mind | Tax

Summary

Tips on how to pay less tax in Singapore. 

[Post 337] Very Few Malaysians Can Afford To Retire. What Went Wrong? | Insight | Full Episode

Summary

Between 2020 and 2022, around USD$33 billion was withdrawn from Malaysia’s pension fund, the Employee Provident Fund (EPF), to help mitigate the impact of the COVID-19 pandemic. Now, about half of EPF contributors under the age of 55 have less than MYR10,000 in their accounts. And according to EPF officials, only 4 per cent of Malaysians can afford to retire. 

As soaring inflation and the weak ringgit drive up cost of living, the opposition has piled pressure on the government to allow for another round of EPF withdrawals. But Prime Minister Anwar Ibrahim has resisted further drawdowns. Can Malaysians afford to retire? What plans does the government have to replenish the pension fund? Is Malaysia facing a retirement timebomb?

[Post 335] High costs of living in Seoul make Koreans grind themselves down to the soul | Undercover Korea

Summary

Over 20% of Korea's population is located in Seoul. Many people are coming to Seoul for the Seoul Dream, like the American Dream in 1960's. But the costs of living are so high to settle in Seoul.

[Post 333] How To Steal And Lose More Than $3 Billion In Bitcoin | CNBC Documentary

Summary

Twenty two year-old hacker Jimmy Zhong said he never meant to become a criminal billionaire. But that’s what happened in 2012 after he found a way to steal bitcoin from the Silk Road – a dark web exchange then known for some of the most unsavory trade on the internet – drugs, guns and porn. Over the next decade, the coins Zhong stole rocketed in value, ultimately reaching an eye-watering $3.36 billion.

Photos show Zhong on yachts, in front of airplanes, and at big time football games over the decade he confounded law enforcement officers trying to solve the theft. He even bought a weekend lake house to use as a party pad, and decorated it with a giant Trump flag and a stripper pole. But then, Zhong made a phone call that ruined his life.

In this documentary, CNBC’s Eamon Javers speaks exclusively with the IRS-CI, the agency that investigated this billion dollar crime as well as the people who knew Zhong during the decade he evaded law enforcement. Javers’ reporting also uncovers a long, digital trail that leads back to the earliest days of bitcoin and reveals a dark truth about the world of hackers and coders responsible for the creation of bitcoin.

[Post 332] Why It's Becoming Harder To Get Into Airport Lounges

Summary

Over the past couple of years, airlines and credit card companies like American, United, Chase and Capital One are investing millions into expanding their airport lounge networks for customers. According to Chase, lounge access is often the top cited reason for its credit card signups, and by the end of 2023, Delta said it would add 2,700 seats to its lounges. However, lounges have become so popular that some face overcrowding, and companies like Delta are making it harder to get airline status.

[Post 331] Can Investing In Dividends Pay For Your Retirement? | Money Mind | Investment

Summary

Can you live off dividends in retirement? We look at the pros and cons. 

[Post 330] How To Use A CDP Account To Kickstart Your Investment Journey | Money Mind | Investing

Summary

Young investors looking to kick off their investment journey have many options to choose from on the Singapore stock market. So what do they need to start buying stocks and other securities? And why is having an account with the Central Depository a good starting point?

[Post 329] Who Are The People Behind Malware Scams? - Part 2/2 | Talking Point | Full Episode

Summary

After investigating how malware scams affect victims, host Steven Chia heads to Vietnam to find out who is behind these scams and how easy it is to create malware. He meets a notorious ex-hacker who digs further into an app embedded with malware that was making its rounds in Singapore. He also finds out how sophisticated scams are going to get, and what we can do to protect ourselves. 

[Post 328] How Do Scammers Take Over Your Phone And Steal Your Money? - Part 1/2 | Talking Point | Full Episode

Summary

Ever scroll through your social media and come across an advertisement for food or cleaning service? But an innocent ad could turn insidious when the seller asks you to download an app to place an order or booking. Since the start of this year, some 750 people have lost a combined total of over S$10 million to malware app scams. In this episode, host Steven Chia investigates how these scams work and attempts to bait a scammer himself.

[Post 327] Volatile US Bond Yields And Stocks: Cause For Worry Or A Good Opportunity? | Money Mind | Investment

Summary

How to look for opportunities amid the volatility in US treasuries.

[Post 326] Buy Gold To Beat Inflation? Why Some Young Chinese Are Investing | Money Mind | Investment

Summary

Consumer spending in China might be in the doldrums – but there’s one commodity which doesn’t seem to be losing its glitter, especially among younger consumers.

[Post 325] Rice, A Food Staple For Filipinos: What Do You Eat When Prices Skyrocket? | Money Mind | Inflation

Summary

How do you feed your family, when the price of your staple food goes up by double digits?

[Post 322] No More Revenge Spending: How China's Gen Z Is Changing How They Shop | Money Mind | China Economy

Summary

2023 was meant to herald the return of the Chinese big spender. But the revenge spending hasn’t exactly panned out as expected. Instead, new consumption patterns are emerging in China’s post-COVID era. 

[Post 321] Will This New Breed Of Coffee Plant Mean Cheaper Coffee? - Part 2/2 | Talking Point | Full Episode

Summary

Extreme weather patterns are threatening to further affect coffee supplies and increase prices. Steven Chia travels to Indonesia to investigate what could be done to prevent the worst effects. He discovers a new and hardier variety of arabica. But would consumers like the taste of it? And would a stable supply of beans lead to the price of our cup of coffee falling?

[Post 320] Bus Enthusiast Lives His Dream Working At Bus Interchange | Our Lives According To Buses

Summary

Matthew loves buses, and if his room-cum-bus-museum is not able to convince you, Matthew turned down three university offers to be a bus interchange supervisor. His passion for all things bus-related extends to his daily work serving customers and assisting bus drivers in operations. 

Taufiq is a firm believer that it is more important to know where you are heading than where you come from. Using his profession as a barber, he creates new haircuts and avenues for those neglected by society. Julianah was a self-professed whiny kid and a career in the armed forces seemed unlikely. That was until she found meaning as a guide and mentor to young recruits where they can in turn find their vocation in life.

[Post 319] The Collapse Of FTX: Insiders Tell All | CNBC Documentary

Summary

Former billionaire, Sam Bankman-Fried, saw a meteoric rise as crypto's golden boy and an even more spectacular fall from grace as his $32 billion cryptocurrency exchange, FTX, collapsed in a matter of days. FTX customers and investors around the world watched in shock as a single tweet ignited a series of events that ended with the former crypto titan facing a dozen federal charges and waiting for trial behind bars. FTX customers, investors and employees were devastated to learn that $8.9 billion dollars in customer’s funds went missing from the exchange.

In this documentary, CNBC’s Kate Rooney speaks to the people most impacted by the fall of Bankman-Fried’s crypto empire. The in-depth documentary includes a candid interview with former President of FTX US who reveals what it was like to work directly for Bankman-Fried and what red flags concerned him most about the company.  FTX investor, Anthony Scaramucci, tells all about his front-row seat to the collapse and what it was like to visit SBF while his empire was crumbling around him.

Rooney’s reporting also uncovers first-hand accounts from FTX customers who share the impact of their catastrophic losses, and pull no punches when discussing what lured them into SBF’s house of cards. And far beyond SBF’s rise and fall, the documentary explores the battle that lies ahead over the missing billions, and whether customers will ever get any of their money back

[Post 318] Why GlobalFoundries’ Chips Are So Important To The U.S.

Summary

In its short 14 year history, GlobalFoundries has risen to the world’s third largest chip foundry. Although it’s not manufacturing chips at the bleeding edge, or seeing tremendous gains from the generative AI boom like Nivida has, GlobalFoundries is quietly helping power nearly every connected device. Its chips are inside every high-end smartphone, cars, smart speakers and yes, the servers running generative AI. It’s also the only major chip foundry based in the U.S., giving it an edge as tensions with China cause concern over the world’s reliance on chips made in Taiwan by TSMC. Now it’s spending about $7 billion to expand production in parts of the world with lower risk: Singapore, Germany, France, and upstate New York. CNBC went to Malta, New York, for a firsthand look at the expansion and to ask how it plans to stay ahead while focusing on the older chips still essential for everyday devices.

[Post 317] Why Tesla May Be The Big Winner Of The UAW Strikes

Summary

Elon Musk and Tesla could emerge as winners from the UAW strikes against Detroit automakers Ford, GM, and Stellantis. Thousands of union workers are striking at the plants of the Detroit Three  - as the three legacy automakers are called. The intensity and nature of the strikes are unlike any other in American automotive history. The United Auto Workers have made a list of demands even its president Shawn Fain calls audacious. Among other things, they want a 40% increase in wages and a four-day 32 hour work week. That would bring all- in-hourly labor costs to more than double what they are today according to analysts. However, legacy manufacturers are already having trouble competing with Tesla's manufacturing costs and selling price.

[Post 316] How Do Expats Feel About Living In Singapore? | Street Interview

Summary

Did you know that almost 30% of Singapore’s population is made up of foreigners? But why do so many people choose to move to Singapore and where do they come from? We hit the streets of Singapore to ask expats about their experiences of living and working in Singapore. 

[Post 315] Making $115K Teaching High School In Orange County, CA | Millennial Money

Summary

Jae Byun, 31, lives with his parents in Orange County, California. He earns a six-figure income teaching high school and coaching basketball. Here's how he spends his money.

This is an installment of CNBC Make It's Millennial Money series, which profiles people across the globe and details how they earn, spend and save their money.

[Post 314] How China Is Buying Malaysia's Largest Companies

Summary

Did you know that China is making big moves in Malaysia, buying up companies and investing in their future together?

[Post 312] Why Factories Are Coming Back To The U.S.

Summary

As factories closed and more companies moved their operations offshore, employment in manufacturing has declined over the years. But now the Biden Administration is spending big on industrial policies, such as the CHIPS and Science Act and the Inflation Reduction Act, to bring manufacturing, especially semiconductors and electric vehicles, back to the U.S. But some economists warn against the dangers of government playing favorites in a free market. So how exactly is the U.S. government convincing manufacturers to return? And will its bet pay off?

[Post 311] Singapore to raise water prices by about 18% over next two years

Summary

Singapore is raising water prices for the first time since 2017. The 18% hike will be split over two phases, with consumers having to pay $0.50 more per cubic metre by April 2025. The first increase will kick in next April at $0.20 per cubic metre, raising the price of water to $2.94 per unit. The second increase of $0.30 will come a year later, bumping up the price to $3.24. The government has pledged to support lower- and middle-income households, as well as businesses, with the additional costs. Deputy Prime Minister Lawrence Wong is slated to announce relief measures tomorrow.

[Post 310] How an outback town dodged the 2008 global financial crisis | 60 Minutes Australia

Summary

Rewind to 2009 when Australia really proved itself to be the ‘lucky country’. Amidst the global financial crisis, a modern mining boom helped the nation prove experts wrong and dodge the worst of the recession. From coal mines in Far North Queensland to the gold fields of Bonnington in Western Australia, there were jobs galore for the locals. 

[Post 309] “Lazy” millennials demanding work-life balance | 60 Minutes Australia

Summary

Anyone aged from their mid-20s to early-40s is considered a millennial. While the group is now the largest generation in Australia, it’s also the most heavily criticised. The flak comes mainly from older generations who are quick to complain that millennials are lazy and entitled, especially in the workplace.

Most of them probably couldn’t care less, but as Tom Steinfort reports, many of the millennials’ bosses are not sure how to handle their increasing demands for greater flexibility so they can have the freedom to enjoy acting their age.

[Post 308] Low Risk, Stable Returns: Should You Put Your Cash In Singapore Government Securities? | Money Mind

Summary

If you’re looking for options to grow your money with little risk, Singapore Government Securities have become increasingly popular. But with yields trending downwards, are they still a good investment? 

[Post 307] Why Is My Coffee Getting So Expensive? - Part 1/2 | Talking Point | Full Episode

Summary

The average price of a cup of local ‘kopi’ - traditional coffee with milk - now costs 26% more compared to 2014. In this 2-part special, Steven Chia investigates why the price of coffee has gone up by so much. He travels to the source of most of Singapore’s supply of coffee beans - Indonesia. While working alongside a farmer, he uncovers severe production challenges despite the high price that coffee cherries now fetch.

[Post 306] Investing In Sustainable Funds: Doing Good Also Good For Your Bottomline? | Money Mind | Investment

Summary

Sustainable funds have seen outflows in the first half of this year. But at the same time, sustainable funds have also outperformed traditional funds. How do we make sense of this – and what does it mean for your investment decisions? 

[Post 305] Fractional Property Investment: You Can Now Buy A Part Of A Property. But Should You? | Money Mind

Summary

Fractional investing is a new way to get a share in luxury property, without needing millions in the bank. How does it work – and is there a downside?  

[Post 304] How Chinese Demand For Fish Maw (Swim Bladder) Fuels A $52 Million Industry In Uganda

Summary

Fish maw — the swim bladder of a fish — is one of the most expensive dried-seafood products in the world. A Chinese delicacy, it can fetch $450 to $1,000 per kilogram. It’s often viewed as a symbol of wealth and prosperity, and it's given out as gifts at important events and stockpiled as a speculative investment. It’s one of the “four treasures” of Cantonese cuisine, along with abalone, sea cucumber, and shark fin. But the main reason fish maw is so desired is its supposed medical value. 

Because of its high levels of collagen and fiber, it's believed to promote healthy skin, boost the immune system, and aid digestion. Fish maw is also often recommended in China for postpartum recovery and to reduce post-surgery pain. But because of overfishing in East Asia, China now imports the majority of its bladders from other countries, like Uganda. In Uganda, fishers compete for Nile perch in Lake Victoria and ship them to China for extremely high prices.

[Post 305] Tourism in times of climate change | DW Documentary

Summary

Extreme weather is affecting the whole world - and climate change certainly doesn’t stop at popular vacation destinations. Where is tourism accelerating climate change? And where could tourism provide an opportunity?

Until the flood disaster in 2021, the Ahr Valley was seen as a dream destination for wellness and wine tourists. Today, the devastation in the Ahr Valley is symbolic of the extreme weather events that could be hitting Germany more frequently due to climate change. How can the Ahr Valley attract visitors again after its infrastructure and gastronomy were swept away?  A catastrophe like the flood in 2021 cannot be allowed to recur. Reconstruction of the region aims to make the Ahr Valley a model region for low-impact, sustainable tourism.

In Mallorca, it may already be too late for sustainable tourism. Recent decades have seen the island overrun by mass tourism. The consequences are especially visible in the wake of climate change: extreme drought and water shortages are putting a strain on the Balearic island, where resources are already scarce. Tourism accounts for over a quarter of total water consumption.

Barely any other place on earth has seen the consequences of climate change as clearly as Greenland. Yet some of the island's inhabitants also see opportunities in global warming: melting glaciers are clearing the way for the mining of rare earths and other valuable raw materials. The problem is that mining harms the environment and the people. Can tourism offer a more climate-friendly alternative to boost the economy?

[Post 303] Why Singapore is investing so much in Vietnam

Summary

Vietnam attracts significant foreign investment, with Singapore emerging as a major investor. Historical ties, industrial parks, acquisitions, and robust trade are driving this trend, impacting Vietnam's economy positively. Singapore may soon become the leading investor, boosting economic growth in Southeast Asia.

[Post 302] Why the baby business is booming

[Post 301] How Car Makers Are Switching To EVs | CNBC Marathon

Summary

CNBC Marathon explores how Tesla, Rivian and Dodge’s new electric vehicles are transforming the automotive industry.

Over the past decade, Dodge has dug deep into its performance car heritage and become a brand known for brash American muscle cars with supercharged V-8 engines and ridiculous amounts of horsepower. But tightening regulations, rising fuel prices and the rise of the SUV are putting the squeeze on Dodge's so-called “brotherhood of muscle.” It recently debuted the Charger Daytona SRT EV, an electric car that looks a lot like its popular supercharged Challenger and Charger. Will Dodge fans or EV buyers want it?

Five years after Elon Musk first announced the Tesla Semi, it’s finally hitting roads. CNBC visited Pepsi’s Frito-Lay facility in Modesto, California, where it is using the new electric trucks, to see whether the Semis live up to the hype.

A new electric vehicle company hopes to take on Tesla with its outdoor adventure trucks and SUVs. And its deal with Amazon to build 100,000 electric delivery vans could help it succeed. Founded in 2009, Rivian is focusing on upscale electric trucks and SUVs with an emphasis on outdoor adventure. CNBC's John Rosevear calls them the "Patagonia of electric vehicles." Last month, Rivian and Amazon rolled out the first of the electric vans. They are starting to deliver packages in a handful of cities, including Seattle, Baltimore, Chicago and Phoenix.

After manufacturing's 40-year cycle of decline in the U.S., officials in Washington are trying to bring it back. This move could be a boom or bust for huge swaths of the American Midwest. This region once dominated the auto industry before rising global trade and automation sent domestic manufacturing employment into a tailspin. U.S. leaders hope that new laws such as the Inflation Reduction Act of 2022 will help businesses create the green manufacturing jobs of the future.

[Post 300] How Consumers Can Manifest Inflation

Summary

What people believe may happen to prices in the future can influence actual inflation. “People behave in accordance with their expectations and with their sentiment and attitudes towards the economy,” Joanne Hsu, director of the Surveys of Consumers at the University of Michigan, told CNBC. Watch the video above to learn more about how inflation expectations are measured, why the Federal Reserve cares so much about what Americans predict and how consumer behavior can manifest higher prices.

[Post 299] I Bought An Abandoned House For $16,500 — And Completely Transformed It | Unlocked

Summary

Betsy Sweeny, 30, bought a dilapidated 3-bedroom Victorian house for $16,500 in Wheeling, West Virginia in 2020. Then she secured a $100,000 construction loan and got straight to work.

Unlocked is a home tour series focused on how much people across the globe spend on their housing, what they get for the money and what they had to sacrifice to make it happen.

[Post 295] Living From Paycheque To Paycheque Every Month: Meet The Moonlight Clan | Money Mind | Adulting

Summary

Meet the Moonlight Clan – Gen Zs in the Chinese-speaking world, who spend everything that they earn every month. Can they break this cycle – and do they want to? 

[Post 294] Where You Should Stash Your Cash In Case Of A Financial Emergency | Money Mind | Personal Finance

Summary

Life is full of surprises. And when the unexpected happens, you can cope better with an emergency fund. Money Mind finds out how to grow your fund and keep the money accessible. 

[Post 293] Why The U.S. Won’t Pay Down Its Debt

Summary

The U.S. national debt is nearly $33 trillion as of early September 2023. Every year since 2001, the U.S. government has spent more money than it takes in, which means it has to borrow money to make up for the difference. The national debt is frequently discussed as a danger to future generations, but some economists say there’s no reason to get the national debt down to zero. One reason for that is without the debt, there would be no federal government securities, such as Treasury bonds, which provide investors a safe place to park their money while accruing interest. Most economist warn, however, that there’s a balancing act when it comes to the national debt. Watch the video above to learn more about why the U.S. can’t get a handle on the national debt and whether it even has to.

[Post 289] Where Should You Invest Your Money During A Downturn? | Money Mind | Investment

Summary

What can investors do to recession-proof their portfolio? 

[Post 286] I Became Dad's Caregiver At 29: My Top Tips On Dealing With Dementia

Summary

At 29, Daniel Lim became his family’s sole breadwinner when his dad, Peter, was diagnosed with Alzheimer’s disease while his mum was receiving treatment for breast cancer. Back in 2009, caregiving resources were scarce, and Daniel had to deal with financial woes, loneliness and caregiver’s burnout.

14 years on, Daniel has created a support system that taps on his neighbours, friends and even the neighbourhood barber to help with caregiving responsibilities. He also co-founded Enable Asia, a support group for fellow caregivers.

In this video, Daniel shares the lessons he learnt in 15 years of caregiving and tips on how to make it work. 

[Post 282] 29 years old and already $200,000 in debt... Either get rich or have no future | Undercover Korea

Summary

A lot of Korean 20-somethings are already heavily in debt in their 20s and 30s. They can't buy a house on their income anyway, so they're trying to hit the jackpot in stocks. They don't even realize they're addicted.

[Post 273] How Americans Are Struggling With Car Loans

Summary

More than 100 million Americans have an auto loan and auto loan debt in the U.S. is at a record high of $1.56 trillion. Between the Covid-19 pandemic, supply chain issues, alleged predatory lending practices, inflation, and the Federal Reserve's interest rate hikes, getting an auto loan is getting increasingly difficult and costly. CNBC spoke with Chase Auto and Toyota Financial Services to learn what's happening in the auto loan industry and what consumers can do to make sure they're protected.

[Post 272] How America Plans To Get Teens Back To Work

Summary

Small businesses across America — stores, restaurants, seasonal businesses such as ice cream shops — are still having trouble filling low-level positions, the kinds of jobs that would typically be filled by teen workers.

The labor force participation rate for workers ages 16 to 24 has plummeted over the past 20 years. The Covid-19 pandemic in 2020 caused another big drop in youth workers. There's been a slight uptick in teens returning to work since then, but youth employment rates have yet to rebound from historically low levels.

According to the Economic Policy Institute, the labor force participation rate among 16- to 24-year-olds has fallen from 65.8% in 2000 to 55.6% in 2022. To boost youth employment, lawmakers in at least 10 states have pushed bills to loosen child labor laws and protections to increase youth labor participation.

[Post 271] Where Thousands Of Tech Workers Went After Mass Layoffs

Summary 

Tech companies shed more than 386,000 jobs last year and in the first half of this year. And that number is climbing. But while layoffs have taxed workers, a booming artificial intelligence market is giving the industry a renewed sense of optimism. Generative AI startup deals announced or finalized In the first quarter of this year totaled more than $12 billion compared to about $4.5 billion invested in the space last year, according to PitchBook. Amazon, Alphabet and Microsoft have also made significant AI investments. So how have layoffs impacted tech workers and what will the AI boom mean for their future? Watch the video to learn more.

[Post 270] How The Rich Use Debt To Make Billions - Best Tips and Tricks

Summary

Everyone seems to hate debt, yet, the richest people in the world all LOVE debt. Why? Because debt is a beautiful thing that anyone can use to their advantage.

Not too long ago, a very wealthy man wanted a new yacht. Not just any yacht- the world’s largest super sailing yacht, which features three decks, a swimming pool, a helicopter landing pad, and a kinetic-propulsion system. The massive vessel known as Y721 was built in a Dutch shipyard near Rotterdam and made headlines when it was revealed that he was considering dismantling a historic bridge to get the yacht to sea. 

The plan was ultimately scrapped after public outcry, and Y721 was quietly towed to a different shipyard for its finishing touches. 

But that’s not really the strangest thing about JB’s newest toy.Jeff Bezos,the founder of Amazon is an insanely wealthy man who could easily hand over the $500 million in cash to pay for his megayacht. But instead, he took out a loan to finance the build. Why would someone worth nearly 150 billion dollars take on debt?! I mean, someone call Dave Ramsey! 

The first way you can leverage debt to create wealth is by tapping into your home’s equity.

If you bought your house years ago, and have been making your full mortgage payments regularly, chances are you’ve built a substantial amount of equity in your home. Maybe it’s almost fully paid off. And this is a HUGE opportunity to grow your wealth.

You can use your home to build another income stream. Your primary home continues to appreciate in value, and so does your second property. 

Another way to use debt as leverage with the equity you have in your home is to obtain a home equity loan. A home equity loan comes as a lump sum of cash. It’s an option if you need the money for a one-time expense, like a down payment on a second property or a major renovation. These loans usually offer fixed rates, so you know precisely what your monthly payments will be when you take one out.

One thing rich people LOVE to do with debt is to use it to build an entirely new stream of income or expand on existing streams of income. You can use this same technique with your own business. This is how people end up owning multiple franchise locations, expanding their business product line, and doing a massive increase in hiring across their businesses.

But perhaps the most well-known and highly divisive way the rich leverage debt is by using it to avoid paying taxes. Jeff Bezos didn’t pay income tax from 2016 to 2018. And Warren Buffet paid only $23.7 million in taxes between 2014 and 2018, despite his wealth increasing by $24.3 BILLION during that time. 

First, when it comes to non-salary-related income, only profit is taxed. That means that while you can report a very high revenue at the end of the year, you can also offset the amount of taxes that you owe by reporting a very high total amount of expenses. Let’s take the example of Jeff Bezos, who, in 2007, paid zero dollars in federal income tax, according to ProPublica’s investigation. That year, Amazon’s stock nearly doubled. And Bezos reported $46 million in income, mostly from interest and outside investments. That entire amount was off-set by various expenses.

Using debt to grow even richer is just one of the things that the rich do to grow their wealth. But don’t do something ONLY because you see rich people doing it, because sometimes, rich people can give HORRIBLE advice. Check out my video about why you shouldn’t take financial advice from the ultra wealthy, I’m sure you’ll love it.

[Post 269] Being scammed led two Hwa Chong boys to set up sneaker marketplace now valued at US$80m | LWS

Summary

Richard Xia co-founded sneaker and streetwear e-marketplace Novelship because sourcing limited-edition apparel online left him susceptible to scammers. So far, it has raised US$23 million in funding, and rapper Snoop Dogg recently became a partner.

[Post 268] China’s Unemployed Youth: Why There Aren't Jobs For New Graduates | Money Mind | Full Episode

Summary

One in five young people in China’s cities is unemployed – and the situation is expected to get worse before it gets better. Why can’t China find enough jobs for its youth? If the city is lacking job opportunities, could the countryside offer greener pastures? Plus, meet China’s “full-time children” – young people finding job options closer to home.

[Post 267] Most Singaporeans feel they need at least S$500,000 to feel financially free: Survey

Summary

How much must we have saved before we can say we are financially free? A new survey by financial company Singlife puts the figure at around half a million Singapore dollars. This means putting aside S$1,700  a month over 27 years. But is that doable for most people in Singapore? CNA asks Chief Customer Officer at Singlife, Guillermo Arbeiza.

[Post 266] The End Of Free Money At The Federal Reserve

Summary

The U.S. is entering a new economic era. It began with an interest rate tightening cycle coming out of the Federal Reserve, with decisions that have reshaped personal finance in America. Some savings accounts can now return meaningful interest for the first time in years. It has also led to a Wall Street reshuffling, and a wave of corporate bankruptcies as some bad bets turn sour. With these free money years coming to a close, we examine how the Fed's decision-making has affected the economy.

[Post 265] Stuck With Low Pay, How Taiwan’s Young Graduates Cope With High Costs | Asia’s Stuck Generation

Summary

Millennials in Taiwan are facing a new reality — high cost of living, stagnating wages and tougher competition for well-paying jobs. Despite getting university degrees, many are not better off financially than their parents’ generation. Some are just surviving, with no savings at the end of each month.

Unlike their parents, who entered the workforce in the 1980s during the golden era of wage growth in post-war Taiwan, youths today face single-digit economic growth and slow wage increases, amid overall inflation and the rising cost of housing.

CNA Insider follows the lives of a few ‘trapped’ youths to see what they’re doing to cope - including working up to 4 jobs, or going overseas to work in F&B jobs.

[Post 264] Prices In China Are Falling: This Is Why You Should Be Worried | Money Mind | Economy

Summary

We’ve all felt the pinch of inflation over the past months. But there’s a new worry in the world’s second biggest economy. And it’s got to do with prices falling, rather than going up.

[Post 263] How This Singaporean Moved To Thailand To Be A Mushroom Farmer | On The Red Dot | Full Episode

Summary

Singaporean William Leong, a former insurance manager, was inspired to become a farmer after visiting a mushroom fruiting chamber in 2017. Today, his mushroom farm in Thailand produces more than 40 tons of oyster mushrooms per year, for local consumption. How did he learn to grow mushrooms? What does it take to become a successful farmer there? William shares his secret with Host Ming Tan.

[Post 262] Can You Upskill Your Way To A Bigger Paycheque? | Money Mind | Jobs

Summary

How upskilling gives you an edge in the job market.

[Post 261] How We Live Without Money In Singapore: We Are Freegans | On The Red Dot | Full Episode

Summary

They do not shop, they do not buy, they have no use for money. But their pantries are full and they want for nothing. In fact, they sometimes have so much, they have to give things away. This is the life of a freegan and there is a community of them living right here in Singapore. 

Rozz is inducted into the community and learns how to live for free for a week. First is a dumpster diving session in which she discovers, to her surprise, that no dumpsters (or diving) is actually involved. Then Rozz gets invited to a series of members-only food rescues and learns that ugly does not mean inedible. They even teach her how to cook creatively with rescued food and feast for free. The week culminates in Giving Day, a one-stop bazaar where people take what they want, no money needed.

[Post 260] Buying A Used Car In Singapore: What Should You Look Out For? | Talking Point | Full Episode

Summary

The value of Singapore’s booming used car industry is scheduled to grow over 20% by 2027. And with the amount of used cars sold almost tripling that of new cars registered in 2022, it’s not hard to see why.

But with recent news reports putting the used car industry in a bad light - Many are more suspicious about buying second-hand amidst the increasing number of complaints about the industry. Is it really as bad as it’s made out to be? Is a used car worth the trouble? 

[Post 259] Singapore firms turn trash into profit in India's waste management sector

Summary

Singapore firms are looking to harvest growing opportunities in India's waste management sector, especially as the Asian country puts in motion efforts to go greener. This includes turning trash, like disposed electronic goods, into precious resources. 

[Post 258] Living On $43K A Year As A Professional Clown | Millennial Money

Summary

David Torres-Fuentes, 23, lives in Nashville, Tennessee with his wife Jacquelyn, and they earn around $43,000 a year. David and Jacquelyn book parties as professional clowns through their new business, Abrakadabra Events. They also each work day jobs to help fund their life and business.

This is a Gen Z episode of CNBC Make It's Millennial Money series, which profiles people across the globe and details how they earn, spend and save their money.

[Post 257] How to earn $80,000, $90,000 and $100,000 in interest alone every year for retirement

Summary

An "interest-only" retirement plan can fund your retirement without draining your savings, but you will need to save a lot of money to make it possible. CNBC crunched the numbers, and we can tell you how much you need to save every month, broken down by age, to get $80,000, $90,000 and $100,000 every year in an interest-only retirement. Check out this video to learn how much you will need to turn that dream into a reality.

[Post 256] Book Summary 5: DIE WITH ZERO By BILL PERKINS

Summary

The money you leave behind doesn’t really say a whole lot about the life you've led. So how can you spend your money to live a truly blessed life?

[Post 255] What Are The Safest Ways To Stash Your Cash? | Money Mind | Savings

Summary

Tips on the safest ways to stash your cash.

[Post 254] Why Citibank Branches Are Closing Around The World

Summary

After the company’s collapse during the 2008 recession, Citi’s stock has continuously struggled. Shares of the company saw more than a 30% drop over the last 5 years. In 2021, CEO Jane Fraser announced a bold shift in the company strategy, exiting 14 consumer markets outside of the U.S. and instead doubling down on wealth management. It’s a tactical move that several other major banks like Bank of America and Wells Fargo have adopted in recent years. So will Citi’s bet pay off and can the company return to its former glory?

[Post 253] Document 72 Hours - The Convenience Store in a Midwinter Hokkaido Village Eng Sub

Summary

The Hokkaido village of Shosanbetsu is home to about 1,000 people and a single convenience store. Residents rely on this store as a source of fresh food and basic necessities, especially in midwinter. Among the customers were a woman who uses a sled to carry her shopping home; an octopus fisherman who shops there three times a day; and a hair stylist who knows everybody in Shosanbetsu. For three days as a blizzard buffeted the area, we spoke to the store's customers to get a glimpse at life in this village.

[Post 252] Heatwaves, water shortage, storms - why extreme weather is becoming more frequent | DW News

Summary

According to the US National Centers for Environmental Prediction, the average global temperature on Monday hit the highest level ever recorded, 17 degrees Celsius, 62 degrees Fahrenheit. As if that weren't enough, on Tuesday that record was shattered again.  

These are not records anyone covets.  Scientists say they’re part of the climate change equation.  A warming planet plus more extreme and unusual weather. 

In the Netherlands people are cleaning up and assessing the damage.  On Wednesday the strongest summer storm ever recording slammed into the country.   And that is where our first report takes us..

[Post 251] Follow Their Investment Journey Through Market Ups And Downs | Money Mind | Investment Strategies

Summary

Join three investors on their journey through market ups and downs. 

[Post 249] Book Summary 3: The Psychology Of Money By Morgan Housel

Summary

Have you heard the story about Ronald Read, the janitor that had 8 million dollars in savings when he died in 2014? Yes, you heard that right. Janitor. $8 millions. And he didn´t win the lottery or inherit the money either. He just saved consistently throughout his life, while letting the wonders of compounding do its thing. The morale is that your behaviour with money is oftentimes more important than how intelligent you are. 

Even if you don´t have a diploma from Harvard, or work on Wall Street, you can become rich by just behaving in a sound way. As Morgan Housel puts it: “financial success is not a hard science. It’s a soft skill, where how you behave is more important than what you know.” Spend your next ten or fifteen minutes on this video, and you might excel on the soft skill of investing! This is a top 5 takeaways summary of The Psychology of Money, by Morgan Housel.

[Post 248] The Massive Size Of Singapore's Largest Banks

Summary

Singapore is famous for one thing; its banking sector. But in all honesty, just how big is it really?

[Post 247] How A 95-Year-Old Lighthouse Keeper Lives A Long & Happy Life

Summary

Buddy Grover, 95, has been a volunteer at the Absecon Lighthouse in Atlantic City, NJ for the past 13 years. He lives on a $35,000-a-year pension from multiple jobs

[Post 246] How "Dad Shoes" Turned New Balance Into A $5 Billion Brand

Summary

What was once a favorite of dads across America is suddenly a fashion-forward brand in its own right. New Balance now has faster-growing sales than larger rivals Nike and Adidas, and fans range from Hailey Bieber to Kawhi Leonard. Here's how New Balance became a must-have for sneakerheads and dads alike.

[Post 245] Who Actually Pays For Credit Card Rewards?

Summary

About 90% of all credit card spending is on rewards cards like Delta SkyMiles, Chase Sapphire Preferred or American Express Platinum. And these cards are hugely popular for a reason: you can earn cash back, upgrades on flights and many other perks. In 2019, about $35 billion in rewards was handed out to customers around the country. But how are banks paying for it all? A majority comes from interest earned from low-income consumers who revolve balances on a monthly basis. The rest is from merchant fees and things like annual, over-the-limit or foreign transaction fees. Some economists claim there's an annual redistribution of more than $15 billion from less to more educated, poorer to richer and high to low minority areas - widening existing disparities.

[Post 244] Chinese snap up homes in post-Covid Thailand

Summary

Many Chinese, eager to offset risks after the pandemic, are snapping up second homes overseas and Thailand, with its good international schools and quality medical facilities, is proving an attractive investment. READ MORE: https://str.sg/ioR8

[Post 243] Living On $230K A Year Selling Ice Cream With My Mom | Millennial Money

Summary

Annie Park, 32, makes $230,000 running Sarah's Handmade Ice Cream, an ice cream shop franchise, with her mom in the Washington, D.C. area. The ice cream business brought in $1.86 million in revenue in 2022.

This is an episode of CNBC Make It's Millennial Money series, which profiles people across the globe and details how they earn, spend and save their money.

[Post 242] Should Food Delivery Riders Just Get A ‘Real Job’? We React To Viewers’ Comments

Summary

Do delivery riders have it rough trying to earn enough? The two-part #TalkingPoint special on food delivery riders got tonnes of buzz. In this video, host Steven Chia and producer Sara Grosse respond to comments on social media.

[Post 241] Why Inflation Is So Sticky

Summary 

Everything is more expensive. Overall consumer prices are about 13% higher than they were in April 2021 and Americans are feeling the pain. Inflation, or the rate prices are increasing in the general economy, has been a persistent problem the past two years. The Federal Reserve had hoped inflation would normalize as the pandemic’s volatility subsided, but prices have stubbornly stayed well above its 2% goal. Watch the video above to learn why inflation sticks around and what we can do about it. 

[Post 240] What Makes Used Rolex Watches Worth More Than New Ones? | The Economics Of | WSJ

Summary

Rolex is the world’s most popular luxury watch brand, yet it’s not involved in many of its own watch sales. Surprisingly, some used Rolex models cost more than the new ones.

WSJ’s fashion columnist Jacob Gallagher explains how factors like long waitlists and supply chain issues have caused the used watch market to explode in recent years, and how Rolex is trying to get in on the action with its own certified pre-owned watch program.

Is the clock ticking on the used watch market’s popularity?

[Post 239] Living & Dying Alone: The Rise Of Single-Person Households Is Changing Societies | CNA Correspondent

Summary

In Japan, the average household had four members in the 1980s. As of 2020, 38% are single-member households. But the pace of households shrinking to just one person is rising fast. It’s likely to exceed 40% of all households very soon. Michiyo Ishida checks out a new solo dining trend amid the shifting social structure.

In South Korea, the rise of single-person households is also bringing sweeping changes to many sectors, including the funeral industry. Lim Yun Suk finds out why more young Koreans are choosing to stay single, with some even wanting to plan ahead for their funerals.

 

In the United States, Sally Patterson examines the price that solo living carries. Research shows singles in the nation fork out thousands of extra dollars on rent in what’s being called a ‘single’s tax’, as more Americans are unpartnered - meaning neither married nor living with a partner - than ever before.

[Post 238] Where Did Americans’ Savings Go?

Summary

The trillions in excess personal savings built up in the pandemic are beginning to vanish amid high inflation, according to Federal Reserve economists. The monthly saving rate fell to a 15-year low in 2022. It started a recovery in 2023, but remains well below long-term trends. Despite this slowdown in saving, consumer spending has remained robust, keeping the U.S. from recession. 

“Something like $2 [trillion] to $2.5 trillion above what we would have otherwise expected were saved by American households,” said Curt Long, chief economist at the National Association of Federally-Insured Credit Unions.

Collectively, Americans have trillions in excess savings compared with expectations leading up to the pandemic, according to Federal Reserve economists.

[Post 237] Singapore a magnet for China billionaires | THE BIG STORY

Summary

With a boom in the world of wealth management over the past decade, the data appears to show Singapore as an attractive destination for family offices to manage the wealth of the super-rich, especially for those in China. 

We speak with Dr Yu Hong, senior research fellow at the East Asian Institute at the National University of Singapore, on this issue and discuss its potential impact on Singapore.

[Post 236] Is it worth having kids?

Summary

Fertility rates are falling across the rich world, as more and more people are weighing up whether to have children. Raising them can be stressful and cost a fortune, but they might bring you a lot of joy. So all things considered, on International Women's Day, is it worth having kids?

[Post 235] Money matters: How to grow your CPF savings

Summary

Meet Stan. Stan’s worried about inflation remaining stubbornly high and eating into his retirement savings. One way for Stan to stay ahead of soaring prices is to grow his CPF savings through a range of investments. Let’s find out how...

[Post 234] Millennials & Gen Z: Young And In Debt. Why? | Talking Point | Full Episode

Summary

With higher life expectancies, rising costs of living, and greater market volatility, the stakes are higher when it comes to the types of financial decisions young working adults have to make in Singapore today. In an Institute of Policy Studies and Talking Point survey, we polled young Singaporeans aged 21 to 29, to find out how they’re grappling with the rising costs of living. Are young adults getting more creative with how they spend their money? What matters to them? And might they be setting themselves up for more debt, compared to previous generations, in the years to come?

[Post 233] Why Tipping Is So Out Of Control In The U.S.

Summary

Tipping in the United States is on the rise and experts are calling it tipflation. In the fourth quarter of 2022, the number of tips provided at full-service restaurants grew by 17% from the fourth quarter of 2021. Meanwhile the tip frequency at quick-service restaurants rose 16% during the same time period. 

Experts say that's because of the newer and sleeker-looking Point-of-Sale, or POS, systems by tech companies like Square, Toast and Clover, who also have increased their sales as a result. The pressure to tip well in front of the tip receiver, before a service is completed, or in front of other customers makes a difference for many. After customers swipe their credit card, they're typically prompted with three large tipping options on a screen. While businesses can opt out of the tipping feature, most aren't. In fact, even Starbucks started prompting customers for tips in stores in September 2022. With Americans being pressured to tip higher percentages and for more services, the question is, where is the tipping point?

[Post 233] Apple vs. Banks: The Digital-Wallet War, Explained | WSJ

Summary

Digital wallets like Apple Pay are continuing to grow in popularity. Banks are worried they’re losing ground to tech companies eager to gain market share in consumer payments.

One of traditional finance’s biggest threats is Apple. Here’s how big banks are fighting back.

[Post 232] How a Traded-In Apple iPhone Gets Refurbished | WSJ

Summary

So you just traded in your used Apple iPhone 11 at your wireless carrier to get a deal on a brand new iPhone 14. Where does that old phone go? How do companies make money on it?

WSJ’s Joanna Stern heads to a U.S. Mobile Phones facility in New Jersey following an iPhone 11 through the refurbished process to explain how the second-hand phone market is a booming business

[Post 231] Young people living a lavish lifestyle on credit card debt | 60 Minutes Australia

Summary

Back in 2008, the global economy was in meltdown and the financial markets were in chaos. Basically, greed, dodgy loans and bad debt were to blame. So you'd think people were a bit cautious with their credit cards. Some may be, but not the kids they call Generation Y. 

They're young, reckless, and they've racked up an astonishing $60 billion of debt. New cars, new clothes, new toys, no problem. Just whack it on the card. These kids had never known tough economic times, so they think they were invincible but they're in for the shock of their lives.