5 money lies that make us overspend

		Friday, Dec 23, 2011 AsiaOne ( Singapore )
5 money lies that make us overspend
How many times have you wondered where that $50 in your wallet went, or why your wallet feels incredibly lighter, or why the numbers in your bank account are getting lower and lower. Start thinking back to the last purchases that you've made, and you would probably say that you didn't really spend much at all. Or that you spent "smartly". Sometimes, these "smart" ways of spending are actually what's causing you to lose money. According to the website mintlife, we sometimes tell ourselves "money lies", or what it says are not too accurate statements to justify unnecessary purchases that lead to unneeded spending. Find out what these top money lies are, according to the financial website, and how to fight back. #1 "If I don't buy it now, I might miss out" We usually say this when we see ads or banners screaming out "Last three days of sale" or "Sale! This weekend only!" Who wouldn't be tempted, especially when they're coupled with statements like "Discount of up to 70 per cent off!" A consumer adviser, Andrea Woroch, told the site that deals like this 'create a sense of urgency' among consumers who feel that if they don't grab the opportunity, they 'could miss out on the value later down the road'. That's why they end up buying items even when they don't particularly need them. FIGHT BACK: Remind yourself that you don't need these items, and that sales like these happen all the time   #2 "I need it" Scenario: You see a cute top in the mall, or a high-end camera with better specs than the one you're using. In your head, you're thinking - I need that! I need that to keep up my appearance at work, or I need that to take better photos of my growing toddler. But do you really? Dr. James Roberts, author of "Shiny Objects: Why We Spend Money We Don't Have in Search of Happiness We Can't Buy, tells mintlife: "Pretty much everything we buy is a discretionary purchase, not something we need." FIGHT BACK: Dr Roberts' advice: Remember that the only things we truly need are food, shelter, and clothing. Remember though that this doesn't give you licence to splurge on lobster and truffles, an exorbitantly expensive property, or that Gucci frock that you swear had your name written on it when you saw it through the window. Beyond the basics, spend only what you can truly afford. Make sure that you have the means to pay before splurging beyond what you really need. #3 "I can always return it" When shopping at a place with return policies, it's easy to think that if you change your mind after you purchase an item, you can always return it. However, remember that not all stores have return policies, and those that do can be quite strict about the conditions of return, or will only give you in-store credit, or an exchange for items of the same price or less. Bottomline: You might not get your money back. FIGHT BACK: Apart from buying only the items you need, if you really must return something, make sure you remember when you'll have to return it by, advises the website.   #4 "I should buy it since it's for charity" A growing number of companies are saying that a portion of the proceeds from certain items will go to charity. And for most, this could easily be the tipping point to decide whether to buy an item or not. FIGHT BACK: If you really don't need an item and you feel it's not worth it despite the charity tag, remember that you can always donate to the charity on your own whether you buy the item or not.

US Internet users not as scam-savvy as they think: study

 

 

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AFP
Friday, Dec 23, 2011

 

SAN FRANCISCO - US Internet users are suckers for online scams, especially if the promised prize is a chance at a hip new gadget such as a tablet computer, according to study results released on Thursday.

More than half of those surveyed in a Ponemon study backed by Internet security firm PC Tools indicated they would reveal mobile phone numbers, email addresses or other information when told they might get something for nothing.

"Even in scenarios where people realize it is too good to be true, they are falling for it," said PC Tools senior manager of online strategy Eric Klein. "I don't know why people keep falling for it, really," he added.

Cyber crooks have long exploited human nature with scams relying on "social engineering" to get people to reveal secrets such as passwords or unwittingly install computer viruses.

Manipulations can range from telling people they will be entered in prize drawings after filling out detailed surveys or getting them to open booby-trapped files said to contain sexy or graphic imagery.

"The results found a clear difference between how aware consumers think they are of scams and how likely they are to be taken in by the given scenarios," Ponemon Institute researchers concluded.

"It is clear from the findings that the threat posed by scams is still being underestimated."

Celebs' most memorable travels in 2011

Celebs' most memorable travels in 2011

The New Paper, AsiaOne | Tue, Dec 20 2011

Singapore's globe-trotting artistes share their most significant holiday experiences in 2011.

Keywords

• southeast asia
• thailand
• art & culture
• celebrity
• boracay
• hua hin
• london
• taiwan

With back-to-back schedules, many celebrities find it hard to find time for a good holiday.

While some have managed to sneak in one or two tourist stops into their itinerary while working overseas, others have had to plan months in advance in order to take time off.

But when they do manage to get away, holidays do something magical to them.

Local celebrities like actress-host Jade Seah was so inspired by London's fashion scene, she started her own online boutique when she returned home.

For actor-host Darren Lim, his weekend getaway to Pulau Dayang will always hold wonderful memories of his time with his six-year-old daughter, Kristen.

Singapore's globe-trotting artistes share their most significant holiday experiences in 2011. Read all about them below.

	#1. Easy, breezy, heavenly Maui Local actor Rodney Oliveiro also visited Oaho with his family.
	#2. Taipei makes me feel at home Local actor Sebastian Tan says Taipei is more than it being just a vacation spot for him.
	#3. City of changes Local actress Judee Tan says Los Angeles was where she had a "life-changing experience".
	#4. Camden calling Actress-host Jade Seah's UK trip leaves her inspired by the stalls in Camden and the cafes around London.
	#5. Discovering rural Taiwan Host-actor George Young goes to Taiwan's Miaoli county as part of a travel programme he co-hosted with Janet Hsieh.
	#6. Romantic and relaxing Local actress Rebecca Lim couldn't resist the temptation of having a little fun while she was in Seychelles for work.
	#7. Escape from supermarket S'pore Local actress Janice Koh's kids enjoy an eye-opening nature holiday in Perth.
	#8. Lost and found in Venice Seasoned travel show presenter Anita Kapoor enjoys the slower pace of life in Venice.
	#9. His little rock star Actor Darren Lim shares his passion for the sea with his daughter, 6.
	#10. Journey with a beach baby TV host Soo Kui Jien and DJ wife Sarah Tan recall first holiday alone with son.

Dec 20 2011

           

Singapore's globe-trotting artistes share their most significant holiday experiences in
2011 :-

Keywords

• southeast asia
• thailand
• art & culture
• celebrity
• boracay
• hua hin
• london
• taiwan

	#11. Trainspotting in London Singer Sylvia Ratonel gets confused by the London Underground train network - the famous Tube.
	#12. Japan trip so fun, he returns for more Former MediaCorp artiste Nat Ho finds himself subconsciously absorbing Japan's culture and its way of life.
	#13. No need to shell out for great oysters Local singer Hady Mirza explores Hua Hin.
	#14. Dream come true That's how local DJ Mariam Mas'od describes setting foot on Great Wall of China.
	#15. Having fun, Dawn under Local actress Dawn Yeoh's trip to Melbourne included a multitude of rustic nature visits.
	#16. No fear, just deer in Japan Radio 100.3 deejay Ye Limei names Nara as one of her favourite places in Japan.
	#17. Andie Chen in the warzone The local actor was deeply moved during his solo East Europe trip.
	#18. On a high in Boracay Actor Desmond Tan enjoys sun, sand and sea in the Philippines.
	#19. Maddy's mad about Maldives Radio 91.3 DJ Maddy Barber says she could have remained there forever.

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He's driven by passion

		Thursday, Dec 22, 2011 The New Paper (Singapore)
He's driven by passion
LOCAL actor Terence Cao believes in being passionate about what you are selling in order to convince others to buy into it. The MediaCorp artist is the co-owner of HeyHey Hotpot in PoMo shopping mall at Selegie Road. He invested $200,000 in it. Other celebrity entrepreneurs Click on thumbnail to view He told The New Paper: "In 2005, my friend from Hong Kong and I realised that there was no good place to have Hong Kong-style steamboat in Singapore. "Hong Kong steamboat is done in a more elaborate and painstaking manner, for example, double-boiled soup (which is cooked over indirect heat in a sealed container)." Cao's extensive homework for HeyHey Hotpot was reflected in the way he and his partners hired two chefs to experiment with and refine steamboat recipes every day for three months. Cao, 44, and his partners made sure they sampled their handiwork every Friday during that period. He said: "I appreciate the effort that goes toward making a great meal. Good hearty soups, which I feel are an irreplaceable component of steamboat cuisine, are not easy to prepare. "Once you have that, it's much easier to cook good steamboat fare." He declined to reveal the financial health of the restaurant, saying only that takings vary widely between months. He also declined to reveal his income, saying that it is a "very sensitive issue". Cao joked: "If I say too much, the income tax man will kill me! "There will always be value in money. What differs is how much emphasis you place on the importance of money. "What is more important is how people remember HeyHey Hotpot. "That will determine if it becomes a successful restaurant or even a chain of restaurants." Cao said that HeyHey Hotpot has a database of more than 4,000 past customers who have left their personal details. Self-confessed foodie He said: "I dream of a time when Singaporeans feel that they will make it a point to have HeyHey Hotpot once a week." Cao is a self-confessed foodie who will hold "nothing back" if the food is good enough. He said that he once spent $700 on a truffles-laden Italian dinner for himself and a friend. HeyHey Hotpot, which opened in 2005, is Cao's most successful venture to date. He wasn't so lucky before. More failed celebrity businesses Click on thumbnail to view Restoran Selayang, the chain of roasted meat food outlets which he opened in 2009 with MediaCorp actor Zhang Yaodong and MediaCorp stunt coordinator Kong Xiang De, folded a year ago. Declining to go into detail about how much he lost, Cao said: "When it went under, my partners and I realised that we were not ready to operate an eatery of that level (with multiple outlets). "Furthermore, we operated at a time when the economy was bad and the local food court scene was changing very fast. "With rising labour costs and the increasingly fickle tastes of Singaporeans, customer loyalty is not what it used to be. "We haven't thrown in the towel yet completely (on Restoran Selayang), because of the positive feedback we received. "We're planning to reintroduce it if we can find the appropriate situation to do so." Cao observed that many Singaporeans make it a point to invest their money - most commonly in property - while still focusing on doing well in their jobs. "When I was younger, I had a more impetuous, nothing-to-lose attitude. I was a pretty stubborn and optimistic person, and still am to some degree." However, his priorities have shifted. "I've realised that having a good companion to share your life with is very important. "I'm ready to date. In fact, I'm very, very single!" Cao said, adding that he has got over his cancelled engagement last year to an accounts executive in her mid-20s .