Facebook rolls out 'nearby friends' feature

Report from AFP dated 18 April 2014 :-

Facebook rolls out 'nearby friends' feature



SAN FRANCISCO: Facebook on Thursday began rolling out a feature allowing users of its mobile app to use smartphone location to discover friends near them.

The optional "nearby friends" feature "helps you discover which friends are nearby or on the go," said product manager Andrea Vaccari in a blog announcement.

"If you turn on Nearby Friends, you'll occasionally be notified when friends are nearby, so you can get in touch with them and meet up," Vaccari said.

"For example, when you're headed to the movies, Nearby Friends will let you know if friends are nearby so you can see the movie together or meet up afterward."

With the feature, Facebook takes a page from other location-based services including the network Foursquare, numerous dating apps and the recently launched social network aggregator SocialRadar.

With the Facebook feature, Vaccari said, "You can choose who can see if you're nearby (for example: your friends, close friends, or a specific friends list) and you can turn it on and off at any time."

He added that the location sharing must be mutual: "You and your friends both have to turn on

Nearby Friends and choose to share with each other to see when you're nearby.

Your friends will only be able to see that you're nearby if you share this info with them and vice versa."

Facebook will also allow users to share a precise location with the particular friends for a set period of time.

"When you share your precise location, the friend you choose will see exactly where you are on a map, which helps you find each other," said Vaccari.

Facebook had an estimated 1.23 billion users at the end of December, and more than one billion who use the social network on a mobile device.

The "nearby friends" feature will be available for Android and iPhone users in the United States over the coming weeks.

Just what to do after work?

Report from The Straits Times (Singapore) dated 16 April 2014 :-

Just what to do after work?



The global financial crash of 2008 not only diminished the savings of workers nearing retirement, but it also altered mindsets about the work cycle. In America, most people have to work their way back to the point where they originally had been ready to call it a day. With welfarism squeezed after the Clinton reforms and European workers being put on notice of a tightening of benefits, retirement is becoming a misnomer in the West. Workers are bracing themselves to continue on the job for as long as they have to.



Singaporeans will need to be no less realistic about what essentially is now a life choice and less of a mandated cut- off. Workers here are denied a margin of cushion as the economy is more exposed than most to external shocks. Job security is less assured as downturn cycles get shorter between recessions. With Central Provident Fund retirement savings pitched at a bare living minimum, on current configurations, longer working careers will increasingly be their lot if they wish to have a reasonable level of comfort when the income stops.



But a snapshot poll by Randstad, a recruitment firm, found that four in 10 respondents wanted to be able to retire at 55. One must suppose this is more wishful thinking than a considered judgment, taking into account ever rising living and health-care costs, paying for children's tertiary education and a little margin left for indulgences, like travel. Not to mention that more people are living longer these days and so will have to make whatever retirement funds they have stretch for longer. Most respondents were sensible but it is significant that even among them, their favoured stop-work age of 60 is two years short of the official retirement age of 62. Unofficially, better performing workers can expect to be active until age 67, where the re-employment bar could be raised to from the present 65.



Two points arising from such surveys are worth pondering. If these imply negative perceptions about continued job availability for seniors, there is work to do for employers and state planners. Is there employer resistance to keeping older workers despite mandated re-employment? But if findings are indicative of an aspiration, Singaporeans must be prepared for the adjustment. How they might fill their time would be as relevant a consideration as knowing if there is enough money to retire on in a relatively expensive city. Would they be content with an idle existence for two or more decades? When the golfing and buddy-lunch routine become stale and reading unread books turns out to be more chore than pleasure, reality will strike home with a vengeance. To enjoy their retirement years, workers might have to invest time and effort to develop hobbies and pastimes that they might engage in meaningfully. It is also important for seniors to remain connected so that they are not isolated from other people as well as developments of the day.

Men look for love on social media, women seek support and deals

Men look for love on social media, women seek support and deals

 

 

AsiaOne

Friday, Apr 11, 2014

 

More men than women use social media for dating. And women outnumber men by 10 per cent when it comes to playing mobile games.

These are the surprising findings of studies collated and analysed by financesonline website.

The results show not just differences between men and women in the use of mobile devices and social media, but also how social media and smartphones have changed their behaviour dramatically.

For example, men write less love letters now, according to recent studies.

On financesonline, writers Alex Hillsberg and David Adelman, said the gender difference apparently revolves around three distinct areas:

1) Our personal and professional relationships
2) The need for information and entertainment
3) Consumer behavior

The two writers prepared an infographic based on those parameters for a broader look at how men and women differ in their use of social media.

For instance, men are more likely to use social media for business and dating, while women for relationships, sharing, entertainment, and self-help, they noted.

"Surprisingly, women ignore paid advertising more often than men.

This makes sense because women in general are more conscious of their social circle and ads are intrusive strangers.

Moreover, women seem to use their smartphones in more ways than men, " they wrote.

And the mini-shocker?

Women play games in their smartphones 10 per cent more often than men do.

"In fact, women dominate men in almost all the top smartphone activities, such as, visit websites, download apps (surprise!), messaging, text, and camera use."

Interesting findings:
- Women send text messages more often than men
- More women look for support in social media
- Women are less likely to respond to social media ads than men
- 71 per cent of women, compared to only 18 per cent of men, will 'Like' or follow a brand for deals

 

Facebook hits 100 million users in India, largest number after US

Report from AFP dated 8 April 2014 :-

Facebook hits 100 million users in India, largest number after US


In this photograph taken on May 14, 2012, an Indian officegoer walks past a youth wearing a t-shirt with a Facebook logo at a market in Mumbai. Facebook has hit more than 100 million users in India, making it only the second country after the United States to achieve the milestone, the social network company has said

NEW DELHI  - Facebook has hit more than 100 million users in India, making it only the second country after the United States to achieve the milestone, the social network company has said.

The mobile phone market was driving growth in India along with better Internet coverage across the country of 1.2 billion people, said Mr Kevin D'Souza, Facebook India's head of growth and mobile partnerships.

"Today, we have more than 100 million people who access Facebook actively in India each month," Mr D'Souza was quoted in local media on Wednesday as saying.

"Now, we look forward to one billion in India - that's a different focus and challenge,"

Mr Javier Olivan, who looks after global growth in Facebook, told the Economic Times newspaper

Should you get a debit or credit card?

April 8, 2014

You may be using a credit card or debit card or both, but do you know what sets them apart?

 

By Chester John

Gone are the days of bartering: your cow for my 10 chickens. Today, we have to pay for our purchases. Whilst everyone would love to have enough cash on hand every time they need to pay for something, that’s not always feasible and in this cruel world, not very safe either. In such a situation, you’d turn to a debit or credit card. It’s hard now to imagine a time when those non-cash options weren’t available.

Credit cards have been around since the early 1950s , and debit cards appearing later in the mid-1970s. They are two different things but they have some overlapping functions – you can make payments anywhere and are generally accepted worldwide. You may be using a credit card or debit card or both, but do you know what sets them apart?

The basics on debit cards and credit cards
A debit card is linked to either a current or savings account . The amount deposited will be deducted automatically after every payment. To use it, make sure you have enough money in your account to avoid an overdraft or risk a rejected payment. Other than that, debit cards also act like ATM cards, allowing you to instantly withdraw cash. In contrast, a credit card is not linked to any of your bank account but you are allowed to spend and use the credit card to make a purchase. In other words, it can be said that you are borrowing the bank’s money to pay for goods and services. However, a credit card is limited to a certain amount of spending and there will be an interest and fees charges if used excessively.

The debit card – mechanisms and advantages
No interest payments


If you are using a debit card, you are spending money in your current or savings account and money will be deducted straight from it. Unlike credit cards, there’s no line of credit, so you will not bear any debt. Because of this, no interest is charged. Debit cards also come with a unique PIN number, known only by you and the bank. Sometimes you will be asked to enter your PIN number when you make a payment, especially when making online payments.
 
Ideal for spending control
Debit cards can help you budget. As your debit card is linked to your bank account, then you can only make a purchase based on your account balance, stopping you from overspending. Uncontrolled spending will ultimately lead to many unpaid bills and a bad credit rating, making it harder to apply for bank loans.
 
Fast approval
You can apply for a bank account during your 1-hour lunch break, no problem – unless everyone else has the same idea that is! All you have to do is walk into your preferred bank branch and apply. All you need to bring along is your identification card and an initial minimum deposit.
 
The Credit Card – mechanisms and advantages
Interest payments
Credit cards are not linked to your bank account. It is issued by the bank, giving the cardholder the option to borrow funds and allow you make purchases or get a cash advance , much like a personal loan. You will be charged an interest on your purchases if the bill is not paid in full by the payment due date. Make sure the bill is paid on time so you will not be charged a high interest. Usually in Malaysia, the interest rate for credit card is around 15% to 18%, while some banks start you off at a lower interest rate of 8.88%.
 

 
Lifestyle perks
One of main reasons why people apply for credit cards is for the additional benefits, such as cashback, reward points, and exclusive discounts. Some credit cards are catered to avid travelers, providing them with comprehensive insurance plans and travel coverage. Some cards are geared to those who lead an active lifestyle, with promotions for concert tickets and free access to exclusive events.

Compulsory credit check
General rule of thumb -If you are interested to apply for a credit card, you should have a steady income of at least RM24,000 a year, and have no outstanding unpaid debt that could affect your credit assessment. Databases such as the CCRIS will contain payment information about your loans including your personal loans, home loans, personal loans, car loans, and credit cards.
The outcome of your credit assessment will determine the type of credit card you are eligible for and your available credit limit. You may also request for a supplementary card, but who you are able to give it to will depend on the terms and conditions set out by the banks.

Which one is for you?
Both credit and debit cards are convenient ways to access and spend your money anytime, anywhere. If you think you can spend wisely, and able to pay debt on time, using a credit card can be a good way to leverage on your current income with its added privileges. Otherwise, if you have difficulty managing your expenses, a simple debit card is more suitable.

For many Malaysians; they choose to have both. The credit card is handy at times when there isn’t any money in the bank but they need to make an important payment and the debit card is a great spending tool if you’re not low on funds.

However, if you do have trouble managing the temptation of spending unnecessarily with a credit card – you might want to give it a skip!

This was brought you by CHESTER JOHN from RinggitPlus.com. RinggitPlus compares credit cards, personal loans and home loans to help Malaysians get more for their money.

Build your business now

Build your business now


             Andreas Ghani Weiler

YOU know that idea you’ve been turning over in your mind to open an online internet business? After all, online businesses now have spurred the growth of local brands and made it convenient for consumers to support local businesses. All in all, a feasible idea. 
 
You’re just not sure when you’ll have the time? Tell you what. The best time to build your business is – now.

If you keep waiting for the perfect opportunity, you’ll never do it.

Take out that idea, dust it off, and launch it. The only way you can polish and refine it is if you put it out there, into the hands of your customers, and then get their feedback.

Capital comes next. If you don’t have any, don’t worry. You can pool resources from your savings, borrow from friends and family, or sell things you don’t need. Or, do all three.

One other option is to apply for a personal loan. There’s a chance this might not be granted to first-time business owners, so make sure you have a solid business plan backing you up. A good credit score also won’t hurt.

You can even start small. Your business will be easier to manage and carry less risk.

Let’s say you want to start a bike delivery service. It’s cost-efficient, environment-friendly, and its scope is small enough that you can service smaller deliveries that would otherwise be too expensive and take too long if they use bigger companies.

Hire some local kids who have bikes and want to make some money for the school or semester break. Just make sure you get good character references or get parental clearance or both.

Once your business is off the ground, start looking around for extra funding so you can expand. Don’t be afraid to pitch your idea to venture capitalists, or of criticism and rejection.

Think of it as a free learning opportunity. You walk away from the meeting with the knowledge of what you need to do next to improve your venture. You didn’t even have to pay consultants for that advice.

Be very clear about the needs your business is addressing, and what differentiates you from similar services or products on the market. These narrow down your responsibilities and let you focus on priorities. They also form your brand’s identity.

In terms of personal finance, owning a business on top of holding a job down is always a good idea because it gives you another source of income. You’ve heard it before: having a job and saving money just doesn’t cut it anymore. Inflation will eat away at your savings until they dwindle down to nothing.

An entrepreneur isn’t just someone who puts up a business to make lots of money. Be an innovator. In the case of the bike delivery service, you want a faster and cheaper way of delivering small items. You’re also environment-friendly because you’re helping reduce carbon footprint.

Do you need more proof you’re making things better? Small businesses impact the economy in a huge way by providing government revenue (also known as taxes) and creating jobs. You’re helping fellow Malaysians by providing them with income, which they’ll use to improve their lives and hopefully make their dreams come true.

Those kids you hired? You’re teaching them responsibility by showing up to work every day, and giving them appreciation for money by making them earn it instead of handing it out. Who knows? You might even inspire them to put up a business of their own someday.

Andreas Ghani Weiler is a money saving expert with Malaysian financial comparison platform, CompareHero, aimed at helping Malaysians save time and money.

 For more information, visit www.comparehero.com
 

Things to consider before renting out your property / room

April 4, 2014

Here are six things to keep in mind before taking the rental plunge.

 

By Balkish Rosly

Converting your house into a rental property can be a lucrative move.

But it’s not all rainbows and sunshine in the rental world.

Much like life itself; there are truckloads of perks and perils to welcoming a tenant into your life.

Worst case scenario, your tenant could be the next Hannibal Lector; Best case scenario, Ryan Gosling or Scarlett Johansson (of course superficially we’re assuming they’re not just good-looking but good housemates too).

Then there are the extra costs that you have to evaluate in regards to the property upkeep.

 Here are six things to keep in mind before taking the rental plunge:
 
Your rent income is taxable
Income tax is a bummer, but a necessity to build a nation. Undeniably, most of us try our best to dig at every nook and cranny for ways to reduce income tax. Although avoiding tax is not the most solid reason to leave your spare house empty and unoccupied, do keep in mind that the monthly rental income you receive is taxable.

However, let’s keep calm and carry on! There are plenty of ‘cheat codes’ to further plummet your yearly income tax. When filing for income tax, do it whole-heartedly and read at every single exemption, relief, and rebate that could save you more.
 
Good tenants don’t come easily

There are a plethora of websites that could connect tenants to your path for free, but be wary that finding a suitable tenant could be a long waiting game. You don’t just want any tenant – you want a good one: who’ll take care of your house and pay rent on time. To create exposure, there’s a monthly fee that you have to burden if you want your property to appear on the first page of these property websites (minimum RM50 and above for a premium spot).

Even then, it could reach a whole a year (and RM600) before you find a tenant adequate for your place, so there’s no time to pussyfoot around! Don’t only rely on property websites and start campaigning to colleagues, friends, and families about your listing. For the most part, the location of your property plays a major role in attracting a tenant followed by the monthly rental price.

Regardless, there are ways to make your house looks more appealing to property website gawkers. The simplest way is to obviously make sure that the house is clean before the photo snapping starts.
 
Difficult tenants exist
Well-mannered, has a steady job, and looks normal? An unassuming landlord might eagerly pass the house or room key without much hesitation. However, it pays to be somewhat discerning. Having bad tenants who abuse your property or fail to pay their rent can transform your profit-making scheme into a nightmare.

As rude as it is to view a person with a judgmental eye, a more detailed survey might be required to avoid any losses in future. The most basic procedure is to request for a referee or perhaps a former landlord’s testimonial / contact number before extending your trust and embark on a profitable journey of rental-hood. If you don’t mind coming across a little creepy; potential landlords could also google the person of interest.
 
You might need home insurance
Depending on the bank, most home owners are equipped with home insurance. For those who don’t, consider purchasing an insurance policy that covers rent. For example, Etiqa insurance covers loss of rent in the event your house is no longer habitable as a result of an insured event for the period necessary for reinstatement.
 
What to include in your lease

 
Tenancy agreements are usually quite standard and follow a general template but it’s your house and your perfectly entitled to adjust your terms accordingly. Beyond guidelines for paying rent, you may want to address the following – general conduct, parking ethics, alterations to the property, proper use of plumbing fixtures, pets, guests, maintenance, and the expected condition upon move out.
 
Costs for maintenance work
Let’s face it, normal wear and tear will happen no matter how wonderful your tenants are at keeping house. The plumbing will soon need a good fixing; the walls will require a fresh coat of paint. With a tenant occupying your room or house, the problems might be greater as they don’t share the emotional bond that you have with the property. Regardless, properties in general are constantly in need of maintenance and attention, and periodically require major and expensive repairs.

In some cases, major repairs will require keeping an apartment vacant for a number of months, and this will cut into your profit margin. Although maintaining a building to a high standard is expensive, it is necessary if you hope to attract quality tenants who are willing to pay higher rents for a nice place to live.

So there you go, keep these in your thoughts as you embark in a profitable rental journey.
 
Balkish Rosly is an Investigative Journalist of SaveMoney.my, an online consumer advice portal which aims to help Malaysians save money through smart (and most of the time painless) savings in their daily banking, technology, and lifestyle spending habits.