Monday 1 August 2022
[Post 145] Making $44K A Year As A Sanitation Worker In NYC | On The Job
Sunday 31 July 2022
[Post 144] Why I Left My $116K Law Job To Work A $15/Hour Firefighting Job | On The Side
Tuesday 26 July 2022
[Post 137] Young Investors | Channel NewsAsia Connect
Monday 25 July 2022
[Post 136] A Singapore family's tips for fighting inflation | CNA
Sunday 24 July 2022
[Post 135] The economic of IKEA:How they keep you in it's store? | WSJ
Summary
Counterintuitive though it may seem, part of furniture giant IKEA’s success stems from its policy requiring its customers to build its products. In this video, WSJ explains the behavioral psychology behind the “IKEA effect.”
Personal Takeaway
1.Flat furniture packing to reduce shipping and transportation costs
2.Design of the store layout to allow customers to spend the day testing out the product.
3.Affordable and low-cost furniture
4.When a customer builds something themselves, they become more attached to it.
Saturday 23 July 2022
[Post 134] How does raising interest rates control inflation? | The Economist
Summary
When central banks raise interest rates, the impact is felt far and wide. Mortgages become more expensive, house prices might fall and unemployment can rise. So why do central banks do it? This film tells you why.
Personal Takeaway
1.A higher interest rate encourages people to save money and spend less. Lower interest rate = more spending; do not want to leave money in the bank
2.A central bank is a bank for banks; a commercial bank can deposit its reserves at an central bank
3.High inflation rate= higher interest rate
4.Difficult to predict when inflation will fall when interest rates are raised.
Wednesday 20 July 2022
[Post 131] How To Save On Your Parents Medical Bills | CNA Insider
Summary:Is home nursing more expensive than hospital care? How much should you budget for medical expenses? A study by Marsh predicts that each senior’s healthcare in Singapore may cost as much as S$53,000 a year by 2030. Quadruple that amount to S$212,000 if you are taking care of your parents and in-laws.
Chronic illnesses such as diabetes, stroke, cancer, heart disease and hypertension are expensive in the long run as our parents live longer. There will be regular check-ups, medication and doctor or specialist visits to pay for. This is where the Community Health Assist Scheme can come in handy to reduce costs.
According to the Ministry of Health in Singapore, 1 in 2 healthy Singaporeans aged 65 could become severely disabled in their lifetime and may need long-term care. That means planning ahead for help like a caregiver, nursing home or elderly daycare.
Personal Takeaway
1.Check the clinic near to you that allow CHAS
2.Setting up a bedroom with hospital equipment and hire caregiver
3.Purchase the necessary insurance