The Future is Female, a full day conference held on 8th April 2017, was packed with eleven panel discussions on managing personal finance and career growth. From dishing out investment hacks to investment strategies, the conference curated by The New Savvy empowered its female-only audience with the confidence to take calculated risks and plan for a better future. One message stayed clear throughout The Future is Female – language should not prevent you from progress. Wade through the jargon, redefine your conversational skills with firmness, have open conversations, and leave no doubt behind. Language & Female : Stop saying ‘I Think’ We know language can influence decisions and reactions. However, few of us are aware that we should minimise the usage of emotional terms and highlight our strengths in a proactive manner. The audience was clearly reminded of that during the second panel discussion. Tjin Lee, Founder and Organiser of Audi Fashion Festival Singapore and many other female-oriented companies like Mercury Marketing & Communications and Treehaus, illustrated the importance of language in a succinct way. Why Women Don’t Ask for Help & What You Should Do “The men that I employ are very quick to book my time to have […]
Sorry, Not Sorry The habit of women apologizing for almost everything, even for things we do not have to be sorry for, is deeply embedded in our culture. In fact, the idea that women apologize too much is still instilled in us today that someone bothered to create an app to help women to stop apologizing. Perhaps this is a result of centuries of being treated like second-class citizens. Or maybe we have been raised in a society where womanly and feminine values are frowned upon. Maybe it is because society has been so used to women acting according to their standards or how they dictate women should act. Things You Should Never Apologize For Again as a Woman Whatever the reasons are, times have changed, and you need to stop now. Here are the 10 apologies you should never again make as a woman working from home. Your clothing choices As a home-based business owner, you do not have to apologize for “distracting” other people with what you are wearing. You can work with your mini skirt. Neither should you worry when you are in the mood for the ever-comfortable sweatpants. It’s not your job to focus on the […]
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These day, if you want to get to the top of your career, hard work will not do; you need to plan well and strategize. For busy young women professionals or those who do not know much about financial management and planning, hiring a financial advisor or representative might seem like a good option. However, some financial advice may not turn out the same way to women of different demographics. It is for this reason that research is done on this exactly, and Fidelity, who provides employer-based retirement accounts, took part in this project by liberating financial advice from the traditional ones tailored to fit everyone to more specific advice, this time depending on each woman client’s demographic. According to the consulting firm’s representative, a significant number of companies and organizations offering financial advisor and planning services are beginning to see that financial advice is not “one-size-fits-all”; the number continues to grow up steadily as well. They have started changing the format of the planning and information they provide to their clients based on several factors — for example, women’s nationality, income groups, career direction, and amount of credit/debt. The challenges women face The customized way of advising and planning […]
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Getting rich is never really “easy”, especially when you are chasing it on your own. On top of that, it’s not just about the amount of hard work you put into that goal; even things such as your upbringing as well as your unconscious thoughts and beliefs on money will affect your progress. Thankfully, there actually are ways to make your way around obstacles like this. When it comes to unconscious, the trick is, well, to trick it. Here are 7 ways to do it: Automate your savings. Before you spend all your month’s income and have a problem with your spending, perhaps due to a hard-to-control impulse to buy, you can choose to automate your regular deposits to your savings account. This way, your savings are safe and sound in your bank account before you get your hands on them. Visit the nearest branch of your bank to inquire about this option. Use cash more often. What we use when we spend affect how we perceive money and their value as well. Obviously, when we use credit cards, it is easier to overspend; this is because you do not see your money being spent. It is for this reason […]
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Without a doubt, Singapore women need their own money. In this article, we will discuss the many reasons why this is beneficial. If you think that only women will benefit – think again. Even the whole family will feel the positive effects when a woman is earning her own keep. Fortunately, having your own money is not that difficult to achieve in Singapore. According to the latest reports, Singapore is leading among its Asian neighbours when it comes to closing the gender workplace gap. In fact, one of the biggest companies in the country, Singtel, is a great example. One-third of their senior management positions are female. What is the role of a woman in Singapore? As a woman living in Singapore, you have a lot of opportunities to earn your own money. There is really no excuse to just rely on your husband or someone else to supply your financial needs. Yes – this is even true after you have your own kids. Some people think that a mother’s place is at home, taking care of the kids. Well, that time has long gone. Singapore women need their own money and pursuing that will not necessarily compromise their ability […]
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“How do I get ahead?” Asks frustrated women in stagnating career paths everywhere. Inevitably, someone will answer, “just network more”. Let’s be frank here. ‘Networking’ is an action, not a solution. And women already excel in it, thank you very much. Women work well in teams – how is that not networking? Women tend to be better at emotional intelligence, and reading social cues – how are those qualities bad for networking? In short, women have the skills in networking, but not the results. So no, I will not accept ‘just network more’ as an answer. It is too insulting to women everywhere. I believe we need to take a closer look at how ‘networking’ fails women, because obviously we are missing out on something big here. According to the working paper of Lily Fang, associate professor of finance at INSEAD and Sterling Huang, a Ph.D. candidate in the same school, 1815 male and female Wall Street analysts in their study start off with an equal number of school-based connections, but male candidates are likely to get more help from their contacts. That is not all. Hiring bias in academic science was exposed after male applicants were viewed as more […]
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A recent report on the index of well-being is showing evidence that there is a stronger need for an empowered woman in Singapore. The report revealed that the local female population score below average when it comes to personal well-being, sense of empowerment, and satisfaction. Although they have shown optimism in their overall well-being, Singaporean women are feeling stress when it comes to their families, health, work, and finances. Empowerment refers to the process by which you feel that you are becoming stronger and more confident when it comes to controlling your life and your rights. It does not even have to involve actively fighting for equality and rights. Simply knowing and expecting what you deserve will make you feel empowered enough to command respect among your family and peers. Qualities of an empowered woman in Singapore To be an empowered woman means you should have the following qualities. You have the ability to make your own informed choices and decisions. This is how you take complete control of your life. This is true for both personal and work life. If you want to do or change something about your present situation, you should be able to act on it […]
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In a time when everything is posted on everyone’s social media accounts, there is little room for privacy. It goes way beyond the line when people start asking you about things that should be none of their business – your style, personal relationships, and many others. Questions People Need to Stop Asking Women Immediately If you are curious what questions are bothering women like this, here are the 7 questions that you need to stop asking women and why you need to stop now. Who are you wearing? Why people ask this: This is the question we usually hear when reporters interview celebrities, especially female ones, at award ceremonies. An alternative for non-celebrities is “is that a legitimate (insert high-end brand here)?” Perhaps it is because of always hearing it from our televisions that people started to think that one’s clothing brand is significant. In a deeper sense, maybe it is a result of our postmodern, capitalist, and consumerist society. Either way, it has somehow become normal to ask women this question. Why people need to stop: Why does it matter how expensive or “high class” of a brand it is I am wearing? A woman should be able to […]
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Have robots disintermediated your personal relationships? What a crazy question. Of course, not! you say. Before answering, ask yourself these three questions: In the past month, have you: Googled dating, marriage or other personal relationship advice? Read articles on how to buy happiness? Asked Siri – the IPhone’s personal assistance – to find business contacts for you? Siri can now have two-way conversations. Robots are now helping us invest online, but can they replace your friends? Unwittingly, you may already have replaced friends, colleagues, and mentors with technology. For women who are less likely to ask for help from others, this is an unhealthy trend. Women are cutting themselves off from human assistance. In personal relationships, this means not getting the real support – and hugs – we need. In work relationships, we are missing important networking and business opportunities. Did you know that an in-person meeting creates six times more contacts and positive business outcomes than a phone call? Why is it so difficult for women to ask for help? Asking people for help will become easier when you understand why you are afraid to ask for a helping hand, guidance, or a few words of advice. Do you […]
Train your Brain to be Money-Smart It’s empowering when you act on tips and advice and then see the fruits of your good money-management efforts. But it can also be tedious, figuring out in a store if you’ve got the money to buy that red dress, calculating net value on a car hire contract or deciding between a holiday in Bali or the latest iPhone upgrade. Lighten your load by internalising some general behaviours vis-à-vis your money. You won’t have to think about every single penny you turn over if you make some savvy habits second nature. Living in Singapore can be very expensive. In fact, the Economist Intelligence Unit lists Singapore as the most expensive city in the world: . So it’s crucial for Singaporeans to make smart financial decisions. Here are some psychological tricks that can help you spend less and save more. Spend on experiences. To maximise your personal value of money, spend on activities that make you happy. Invest in experiential purchases that increase your own self-value like an additional educational degree, music lessons or a gym membership, as well as purchases that nurture your relationships, like a family outing. Spending on selected material items can […]
Before women could have the choice to pursue a career that they want to ensure their financial security on their own, they were limited to having to go for men who can provide them just that. It is undeniable that the negative connotations brought about by the then heavily patriarchal way of things still affect the way many people think about how women and their capability to handle finances and to secure themselves financially without the help of a male partner. The idea of 5 C’s are very much rooted in these stereotypical, phased out, and somewhat sexist notions on women and their ability to achieve success and financial stability on their own. While first popularized as a joke, the 5 C’s seem to reflect something about women and their finances. It also shows how the problems of women in financial management are still heavily influenced and affected by the then heavily patriarchal way of things. Brought about by progress and modernization, many women today are finally starting to take charge of their finances, with or without a partner. That is why, instead of looking for a man with 5 C’s to provide financial security for them, modern women should […]
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Women and men make the same money mistakes, but there are some mistakes that are more exposed to a particular type of person. Just like any other person, women should not fall for traps that make them lose money or spend money on things they don’t need. Here is a list of things you must avoid if you want to be a financially savvy woman. Abusing the credit card The credit card is called as such for a reason. It takes credit, meaning you are not getting it for free. In fact, you are paying for more just so you can buy it now. It’s not bad to own a credit card. It’s very useful and it will help you purchase things that are too expensive to pay one-time-big-time. However, using a credit card comes with great responsibility. Make sure that you don’t swipe and feel that you got something for free. You will have to pay with cash when your bill comes and you have to make sure that you pay everything on time so that you won’t get a bad credit score. Giving into peer pressure With social media’s role in our everyday lives, it is so easy […]
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We need to admit it: life is full of uncertainties. No matter how careful you tread, the unexpected will eventually come. This is the reason why people try to prepare for the unexpected from early on – for instance; many usually prioritize having a decent amount of savings in their bank account or get some of those insurances. What makes it more difficult, however, is the fact that the “unexpected” comes in many forms. So let us help you out a little. Here are the 6 financial situations every woman should always be prepared for. Financial Situation: Medical emergencies Why it’s important: No matter how healthy you may be right now, it’s a big, wild world out there. From over-speeding drivers to cases of flu spreading like wildfire, it is almost a sure thing that you will need medical help in the future. This is why it is one of the most important things you should always prepare for. Other than the high probability of getting sick in the future, medical fees are usually expensive. Without saving for events like these, you might end up digging yourself another hole of massive debts. How you should prepare: The first step is […]
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We totally get it — seeing those digits rise in your bank account is quite fulfilling. It does make sense that having more money makes you feel secure. However, you have to admit that having more money is not all that there is; other than having more money, there are also other goals you should make for yourself. So even if you are uncomfortable with the idea of investing, here are some things you should look out for or the reasons why more money is not everything: Building up an emergency fund. Other than garnering more and more in your savings account, you should never forget also to have an “emergency fund.” The idea behind this is to set aside some money which you can use in case of emergencies or other unforeseeable events — hospitalization, losing a job, etc. — without touching your savings. Financial experts suggest that you should have at least 3 to 6 months worth of your salary. This may be quite challenging because this means living below your means, but your future self will definitely thank you for it. To make sure you do not get tempted to spend it on non-emergency things, you […]
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Ready for 2017? Wow! Isn’t it insane how quickly 2016 whizzed past us? Are you feeling the hustle and bustle of the year-end festivities? It seems like a lifetime ago, but I still remember how last year, I was frantically planning for 2016. Truth be told, I wasn’t sure of what I wanted. I felt guilty for not having clear, definite, BIG goals. Everyone seems to have their life so put together but not me. From time to time, I worry if there’s enough time to get anything meaningful accomplished before 2016 ends. I want to make sure that I avoid this in 2017. If you don’t focus on your goals, you will always be reacting instead of creating the life you want. Chances are, most of us have a big, beautiful vision for our lives – personal and professional. The critical questions are: 1. How are you defining your goals in actionable steps? 2. Are you setting aside time to focus and outline these goals? 3. How do you remain accountable for these goals? It’s difficult to be still to think of what you TRULY want. It’s even tougher to break these goals into specific targets and timeline. WHAT […]
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Thinking of something to read? Reading books is definitely more than knowing about amazing stories and fantasies or getting inside the lives of your favorite figures; it can also be the seed to your financial success! So go ahead and add some reads on personal finance to your reading list for the year 2016. If you are wondering where to start, below are some suggestions of the latest bestsellers in personal finance. Book Title: I Know How She Does It: How Successful Women Make the Most of Their Time (June 2015) Author/s: Laura Vanderkam The Gist of It: You probably saw one of those posts about how you will have to sacrifice some aspects of your life (school/career, family, relationship, friends, etc.) in order to succeed in another on your Facebook news feed. However, whoever posted those things probably either do not know anything about time management or have not read this book. Take it from the stories and testimonials of women who somehow managed to find some solutions to the work-life balance problem. Let these serve as proofs to finally debunk those myths you heard and probably demotivate you in even trying to balance. In this book, Vanderkam provides […]
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The Harvard Business Review (“HBR”) publishes a list of top 100 CEOs in the world every year. In judging the quality of CEOs around the world, HBR focuses on the “results they produce over their entire tenure” based on objective data. They analyze various metrics like long-term shareholder return and environmental, social and governance (ESG) performance to arrive at the best performing CEO’s in the world. Our readers in Asia might wonder, how many of them are Asians? What do they do and what are their backgrounds? We have the answer for you. Ten out of Hundred CEOs in the Ranking Are Asians Of the 100 CEOs that were ranked by HBR, 10 were Asians, though only 8 were actually working at a Asian companies. The highest ranked was Jen-Hsun Huang oat NVIDIA, the famous graphic chipmaker based in the US. Among executives located in Asia, Terry Gou of Hon Hai Precision was the top ranked at #40. He has been with the company since 1974 and his tenure of 42 years was second only to Li Ka-Shing who founded his company CK Hutchinson in 1950 shortly after the world war. HBR Ranking Name Company Country Since Industry 6 Jen-Hsun […]
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Having money and spending it, in effect, is all about opportunity cost. When you spend it on something, you’re being denied the opportunity to spend that money on something else. If we were to simply stop and think of what we could have bought with that money we just spent on that new handbag, we’d probably be in a deep, dark place. Simply put, the choices we make in spending money isn’t exactly as straightforward as we think it is. Here are the common pitfalls and traps that we do to fool ourselves with money. Mental Accounting Mental accounting is when we choose to treat a certain amount of money with more care and protection than others. For example, perhaps you’ve wanted to go on a vacation for a long time. So, a special account or ‘jar’ of money is set up where you deposit a certain amount of money into it every week or month. However, when rent or school loans start calling, and you need that money to pay off the debt, you refuse to touch even a single cent of that money, hell-bent on using it ONLY for your vacation. While it isn’t necessarily a bad thing, […]
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In various publications, millennials have been portrayed as the black sheep generation. Though it is true that there are a lot of things that millennials should learn from previous generations, there are still some things that the older generations can learn from the new batch as well. Being technology advocates is already a given. How about money? What are the money habits that previous generations can learn from this new breed? Financially smart millennials know how to handle their money properly. Here are their top money habits. Financially smart millennials keep track of their expenses According to studies by T. Row Price, 75% of millennials keep track of their expenses compared to 64% of baby boomers. Not only that – 67% of millennials adhere to a specific budget while only 55% of baby boomers do so. Millennials also take time to record their budget and expenses with the use of technology. They use mobile applications or Excel sheets to track their wallet. Some go for the old school way and actually keep tiny notebooks in their pockets. Financially smart millennials have a retirement plan Even if the older generations are putting more money into retirement because of their higher salaries, […]
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You might be asking how you can achieve success and wealth, and while there are many factors to consider – opportunity, education, an idea, and even luck, – some of the ingredients to success you can bring about on your own. Among the things you can do is to change your daily routines to habits that are geared toward success. Quoting Aristotle, “We are what we repeatedly do. Excellence, then, is not an act, but a habit.” Change excellence with success and the quote still works. Here are 10 habits of successful women that can aid you on your journey to prosperity. These practices do not require “talents” of sorts. Anyone with determination and passion can start doing these; therefore, there is no excuse at all. Automate savings Sometimes, we are our worst enemies. We totally get that it is just too easy to give in to temptations and to spend more than you should at times. But before you know it, there is nothing left for your savings and investments. We also know that advice like “mind over matter” are easier said than done. So when they do fail, there has to be a backup plan, right? You have […]
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