Sunday, 26 February 2012

From 0 to $ 65 million in 10 years

From 0 to $ 65 million in 10 years  -  Pastamania's recipe for success


Monday, Feb 27, 2012
The Business Times ( Singapore )
By Leslie Teoh

FOR Pastamania's managing director, Andrew Kwan, quality people form the backbone of every successful company.

Mr Kwan's experience at the casual restaurant chain proves this. Despite being unfamiliar with the food and beverage (F&B) business, the gutsy man made the decision to invest in Pastamania in 2002, four years after it was set up. Then, the company had two food court operations, one at Scotts Picnic and another at Lau Pa Sat.

Things were 'tough going', which spurred Mr Kwan to reinvent the brand's image.
'Food courts generally don't allow you to brand . . . and we felt that we should go after the younger crowd, the working executives, the women folk in particular,' he says.

He fondly recalls how a devoted team of employees played a vital role in Pastamania's early days.

'We had a young team of management staff who, without an extra cent, would have to work at night. It was our due to them that we were prepared to put money behind developing a new concept.'

Changes that were made to Pastamania's concept include the colour of the brand logo - from green and black to a more eye-catching bright red and yellow. It also positioned itself as a brand that provides affordable and authentic Italian cuisine.

The hard work paid off.

Today, Pastamania has 28 outlets in Singapore and 17 outlets spread across Asia and the Middle East.

And to Mr Kwan, this shows that what's important in running a business is the people behind it.

'Many people focus on the product and if you have the wrong people doing it, your product will never truly be unique, never truly be breathtaking, so finding good people is key,' he says.

Mr Kwan was previously part of Globamatrix Holdings, where he oversaw operations in the solar control window film business.

On his decision to enter the vastly different food and beverage (F&B) industry, Mr Kwan noted that it was purely coincidental. 'It wasn't by design, it was by providence really. A mutual friend put me in touch with the former founder of Pastamania . . . In January 2002, we consummated the deal and got into F&B,' he recalls.

While being relatively unfamiliar with the industry could be perceived as a major hurdle in penetrating such a competitive sector, Mr Kwan believes that this inexperience may have been an unseen advantage. He says: 'When we walked into this, we had no experience whatsoever and maybe that was a plus because we didn't carry any preconceptions of how a F&B (company) should be run.'

According to Mr Kwan, Pastamania managed to see a 24.8 per cent revenue compound annual growth rate from FY2002 to FY2011, despite crises like the Sars outbreak in 2003 and the financial meltdown of 2008. He believes that its resilience is due to its positioning in the market.

The cost of a meal at Pastamania can be 'as little as a third of a sit-down fine-dining Italian restaurant', says Mr Kwan. In an uncertain economic climate, conservative consumers would tend to shy away from spending an extra $50-80 on a meal, making Pastamania attractive to them.

Mr Kwan believes that Pastamania can fill this niche market for affordable Italian dining. Although a wide array of affordable Asian cuisine is available, the market for affordable and authentic Western fare is relatively untapped, he notes. 'I think there is a market for that, so long as we continue to deliver good quality ingredients, well-prepared, and quick service all together at an affordable price,' he says.

In remaining true to the fundamentals of the brand - using good quality ingredients to create authentic Italian food at affordable prices - Mr Kwan staunchly believes in sourcing high-quality produce.

He says that it was a common misconception that cheap food is synonymous with low quality. He emphasises that Pastamania imports most of its ingredients from Europe and the United States. Its costs, however, are kept down by buying in volume and economies of scale.

Besides this, Pastamania's success is also the result of Mr Kwan surrounding himself with trustworthy and capable staff.

'I think it's people who will drive programmes that will create winning products. When you find the right people, everything else falls into place, the programmes and the plans will all come out and then from there you get really great products.'

It is clear from the way he speaks of his business relationships that trust, chemistry, and people played a key role in his decision to acquire Bakematrix - Pastamania has a 60 per cent stake in Bakematrix - which in turn owns the bakery chains Swissbake and Swisstreats.

When asked what the rationale behind this move was, he says that it did not begin with a rationale, but was a result of him 'clicking' with Swissbake's managing director Xavier Baumgartner, who was introduced to him by a mutual friend.

'I found him to be very likeable and I think the make- up is quite similar. We may look different but I think our business thinking is quite aligned. Above all else, the people running the business must have chemistry. Otherwise they will always be looking behind (each other's) backs as a partner thinking if he is doing anything that is crooked, or we're constantly fighting over fundamental ways of doing business and that's very unproductive,' he says.

The acquisition - which is expected to generate a combined revenue of $65 million this year compared to $53 million in total unaudited revenue last year - is more of a growth-oriented rather than cost-driven exercise, according to Mr Kwan, who has emphasised that he does not envisage any job cuts.

When it comes to his staff, Mr Kwan strongly believes that it is important to help them reach their full potential - a belief that is aligned with Pastamania's corporate value to strive to develop its people to 'be the best that they can be'.

It is particularly surprising for a businessman like Mr Kwan to speak about qualitative rather than quantitative outcomes. He believes that one of the most satisfying outcomes of the partnership with Swissbake was the opportunity for staff to be cross-trained in different culinary skills, as well as the morale boost and enthusiasm it generated.

'Some of the chefs on my side were very excited when we told them we were going to have a plant tour at Swissbake. Everybody was volunteering because they said this is a new area for them, so I think we have, by this combination, rejuvenated and created a lot of excitement at the companies,' he says.

Currently, Pastamania employs about 600 staff while Swissbake has over 200. Mr Kwan says he hopes to add a further 300 employees, but that the biggest constraint would be finding people of good quality to join the organisation. He also hopes that the two businesses will continue to grow together, although he has slightly different aspirations for each.

He sees domestic growth as a key focus area for Swissbake in the next few years and hopes to add to its existing 32 retail points in Singapore. 'I really hope to see Swissbake available everywhere, even to neighbourhood areas . . . I want to take away the mindset that 'Oh this is gonna be expensive' but it's not, it is affordable.'

For Pastamania, Mr Kwan hopes to continue expansion in regional markets and expects the first Pastamania location to open in the United Kingdom in the third quarter of this year.

He says: 'We have come to a point whereby our footprint (domestically) is not yet saturated I would say, but we are starting to look overseas in a more serious way. (We hope to) keep ourselves nimble and fleet footed like a small company, but punch like a heavyweight with the enlarged resources of an upsized corporation.'

Saturday, 25 February 2012

How to choose the right backpack

How to choose the right backpack
Backpacking in the wilderness and backpacking through cities entail different preparations, say gear experts.
How to choose the right backpack

 

I have plans to try backpacking for the first time. How do I choose the right pack? What are the pros and cons of using a backpack for travels? How do I choose the right size for my 5'3" frame? Any packing tips? By the way, I need a multi-purpose pack for cities and outdoors. -Hitting the road Klang Valley (The Star reader)

Backpacking means putting all that you need in a pack that you carry on your back and hitting the trail or road. However, backpacking in the wilderness and backpacking through cities entail different preparations.
Choosing a pack depends on several factors:

1. The type of trip
Although it is convenient to travel with a backpack, especially if you are young and fit, a backpack can be a hassle in modern-day travel. Straps can get snagged in conveyor belts, external pockets are not lockable and the design of most backpacks means you need to unload everything to get to the bottom of the pack.

Also, what you pack and the volume of your bag depends on your option to re-supply along the way.

One of the most popular travel gear today is the carry-on luggage. Ideally, carry-on luggage should have a volume of about 35 to 40 litres to ensure it fits in most overhead compartments on international aircraft. Whether you choose a backpack or a wheeled, carry-on luggage depends on your destination.

If you are travelling in Europe where hopping in and out of public transports and long walks between stations are common, I'd recommend a wheeled luggage with a backpack strap option.

A tough, water-resistant duffel bag works better if you're travelling in Asia where you have to deal with inclement weather and substandard public transport.

If you are hitchhiking through Australia or New Zealand, you may want a bona fide backpack that serves its purpose in the outback or on the mountains.

2. Types of packs
Backpacks tailored for mountaineering are built for steep terrains, hence it sits higher on the back of the user so the bottom of the pack will not scrape the ground and tear when you negotiate a sheer downhill slope.

These packs also have a top loading cover that is positioned further from the back of your head so when you tilt you head to look up or if you are wearing a helmet, the top of the pack doesn't get in the way.

The pack will have a more streamlined profile to give the user a better balance on steep and uneven terrain. Its lack of external straps help minimise entanglement.

Major gear brands like The North Face, Osprey, Deuter, Lafuma and Gregory offer backpacks that fit the female anatomy. To cater to narrower shoulder frames, the shoulder straps aren't as broad as a generic pack's.

Chest straps are positioned higher above the breasts and hip belts are tapered to fit the curvier female hips. In general, women-specific packs are narrower to give a better balance for the carrier.

Some backpack manufacturers also include build-in accessories to cater to women's needs; for example, hip pockets for lip balm and hand lotion; top pockets for sunglasses and a detachable toiletry kit.

3. How does the pack fit?
Is it manoeuvrable in a crowded place? Choose a pack that can be adjusted to fit the length of your torso. Some brands even come in several sizes: S, M or L. Utilise all the straps - the hip straps, shoulder straps, chest straps, frame straps, etc, to get a better fit.

Loading your pack correctly makes a huge difference in your level of comfort. Stash the heaviest items in the space closes to your shoulder blades.

Save the bottom of the pack for light but bulky items like sleeping bag, clothing or sleeping mat to maintain your balance when you're toting the pack.

If using a wheeled luggage, use packing cubes or travel organisers of various sizes to organise your gear. Do place heavier items in the middle or at the bottom of the bag so it doesn't topple over when left upright.

Most backpackers will have more than one luggage but the rule of thumb is: only bring what you can lug on your own without any help.

I recommend a foldable bag for day use and a compressible cargo duffel bag that can also double as a rain cover and check-in luggage cover when necessary.

4. Easy access and security
Popular backpack designs have large side pockets for easy access to stuff like maps, tickets, sunscreen, writing materials or water bottles and a large external top pocket for books and electronic devices.

On the insides of the top cover, there is sometimes an internal pocket to keep valuables like money, passport and keys.

The packs will usually come with extra loops to strap your gear to the bottom or the top of the pack, or criss-crossed bungee cords to secure your gear in front of the bag.

Most backpacks are designed to hold at least 50 to 80 litres (15kg-25kg) of gear.

Leong Dee Lu Adventure buff cum outdoor retailer

Thursday, 23 February 2012

PayPal gets new rival in offline payments race

PayPal gets new rival in offline payments race

 
SAN FRANCISCO - PayPal, the online payments company owned by eBay Inc, just got a new rival in the race to develop a mobile payment service that can be used in physical stores.

Boku Inc, a big online mobile payments company backed by venture capital firms including Andreessen Horowitz and Benchmark Capital, unveiled a new service on Thursday that lets people pay with any mobile phone anywhere credit cards are accepted.

Boku already provides carrier billing through about 230 wireless carriers, including AT&T Inc, Vodafone Group Plc and Verizon Communications Inc in more than 60 countries. This service lets people pay with their mobile number and get the transactions charged to their monthly phone bill.

Carrier billing is typically limited to smaller online purchases, either through personal computers or within mobile phone apps.

Boku's new platform, called Boku Accounts, allows purchases in physical stores, a much bigger market. The service will be branded and offered by wireless carriers to customers, with Boku running the system in the background.

The move puts Boku in closer competition with PayPal, which is pushing its popular online payments service into physical stores. Google Inc is also trying to get its Google Wallet service into stores through a partnership with giants such as MasterCard Inc and Citigroup Inc.

PayPal's in-store offering works with merchants' existing point-of-sale terminals, but usually requires a software upgrade. Google Wallet works with phones that have Near-Field Communication, or NFC, chips in them and merchants need a terminal that supports this technology.

Boku's service comes with a sticker that users can slap on the back of their mobile phones, turning any handset into an NFC-enabled device. It also comes with a payment card that can be swiped using existing retailer terminals, without a software upgrade, according to the company.

"We wanted this to be available in any store," Ron Hirson, co-founder of Boku, said. "You don't need a new phone or a new terminal."

Wednesday, 22 February 2012

Brain study finds what eases pain of financial loss

Brain study finds what eases pain of financial loss

Wednesday, Feb 22, 2012
Reuters
LONDON - Financial market traders and keen gamblers take note. Scientists have found that a chemical in the region of the brain involved in sensory and reward systems is crucial to whether people simply brush off the pain of financial losses.

Scientists say the study points the way to the possible development of drugs to treat problem gamblers and sheds light on what may have been going on in the brains of Wall Street and City of London traders as the 2008 financial crisis took hold.

"Pathological gambling that happens at regular casinos is bad enough, but I think it's also happening a lot now at Casino Wall Street and Casino City of London," said Julio Licinio, editor of the Molecular Psychiatry journal which reviewed and published the brain study on Tuesday.
"We like to believe we all have free will and make whatever decisions we want to, but this shows it's not so easy," he said in a telephone interview. "Many people have a predisposure to make certain kinds of decisions."

For the study, a team of researchers led by Hidehiko Takahashi of the Kyoto University graduate school of medicine in Japan, scanned the brains of 19 healthy men with positron emission tomography (PET) scans after they had completed a gambling task.

"Loss aversion"
The experiment showed that a neurotransmitter, or chemical messenger, called norepinephrine, or noradrenaline, is central to the response to losing money.

Those with low levels of norepinephrine transporters had higher levels of the chemical in a crucial part of their brain - leading them to be less aroused by and less sensitive to the pain of losing money, the researchers found.

People with higher levels of transporters and therefore lower levels of norepinephrine or noradrenaline have what is known as "loss aversion," where they have a more pronounced emotional response to losses compared to gains.

Loss aversion can vary widely between people, the researchers explained. While most people would only enter a two outcome gamble if it were possible to win more than they could lose, people with impaired decision making show reduced sensitivity to financial loss.

"This research uses sophisticated brain scanning to improve our understanding of the way that our appetite for risk is linked to the way that chemical messengers operate in the brain," said Derek Hill, a professor of medical imaging science at University College London who was not involved in the research but intrigued by its findings.

"It is quite preliminary work, but has many intriguing implications," he said, adding this sort of imaging could in future be used to help test drugs to treat people who indulge excessively in risky behavior.

Alexis Bailey, a lecturer in neuropharmacology at Britain's University of Surrey, said scientists now need to analyze known pathological gamblers to confirm whether they have higher levels of these brain chemical transporters than non-gamblers.

"Also there is a need to investigate if noradrenaline transporters are also increased in brain regions traditionally associated with decision making and emotional aspects of aversion such as the prefrontal cortex and amygdala," he said.

Tuesday, 21 February 2012

Taking risks pays off for ex-banker


Wednesday, Feb 22, 2012
The Business Times (Singapore )

Taking risks pays off for ex-banker
By Anna Lee

WHEN you're young, there's nothing to lose.

 
For 27-year-old Chng Xueru, founder of Dou Hua Zhuang, that was her mantra - even though she took a big pay cut when she quit her well-paying job as an offshore banking relationship manager to become a hawker selling bean curd.

But the gamble might have already started to pay off. In its first year, Dou Hua Zhuang produced a six-figure turnover and spawned its first franchise outlet.

Xueru believes soya bean is here to stay and Dou Hua Zhuang's best-selling item is its cold bean curd, made from freshly ground beans that you can still smell in the post- lunch rush hour. The bean curd is kept cold in a giant fridge.

Founded in February last year, Dou Hua Zhuang is located next to Xueru's parents' tzi char stall. Her family has played a very important role in her life - and seems to continue to have an influence as she ventures into business.

This is reflected in the name she chose for her stall. 'Dou Hua Zhuang' means soya bean village in Mandarin, but 'Zhuang' is also Xueru's family name.

'It was quite easy . . . maybe a five minute decision,' Xueru's older sister, Xue'e, recalls on how the name came about. Xue'e was instrumental in the development of Xueru's business.

Xueru is the youngest of three children. In her business, her mum has become her 'harshest critic', according to Xueru. Her father has the final say on whether her product can be sold.

'Starting my own business is in my DNA,' Xueru says. Besides her parents, many of her relatives are also in business.

Xueru has taken the switch from banker to hawker in her stride. 'After a while, you will want to do something that truly belongs to you,' she says.

'It has always been my dream to set up a beancurd stall. I loved beancurd from young. When I saw that the stall next to my parent's tzi char stall was available for let, I immediately jumped at it,' she excitedly recounts.

Xueru describes herself as a risk lover: 'In business, if you don't seize the opportunity now, then when?'

Elder sister Xue'e helped with the start-up and development of the business, while Xueru was serving out her notice period at the bank. Xueru did her research before coming into the business full-time after she left the bank.

'I am very proud of my sister,' says Xueru, acknowledging that the business could not have started without her older sister's expertise.

Coming from an interior design background, Xue'e has been involved with the setting up of many other restaurants in Singapore and other parts of Asia. She was also key in developing Dou Hua Zhuang's marketing material and designing its stall front.

Xueru believes that the marketing and product branding of her business give her an edge over many of her competitors. They appear to pay little attention to these modern management concepts, which Xueru picked up when she studied entrepreneurship as part of her course at the Nanyang Technological University.

Jumping onto the social media marketing bandwagon, Xueru harnessed the powers of social media and the Internet to build up the brand name of the business. 'I was never a Facebook user. I don't like these types of things. But for the sake of the business, I created an account,' says Xueru.

'When people think of cold bean curd, I want them to immediately think of Dou Hua Zhuang,' she adds, believing that Dou Hua Zhuang will one day become a household name.

Currently, Xueru concentrates on solidifying Dou Hua Zhuang's presence in western Singapore, since most of her competitors operate in the east.

Many others have approached Xueru for franchise rights, but she remains careful in giving out the rights. 'I must make sure they have the same passion as me. I want them to be proud of Dou Hua Zhuang, to proudly say that this is my business and to want to establish the name of Dou Hua Zhuang,' she says. So far, Xueru has only one franchised outlet in Chinatown.

She continues to receive encouragement from good reviews that she sees online. 'When I Google 'cold bean curd' for example, I see people's praises, and I feel very shiok,' she says, her face lighting up with satisfaction.

Xueru admits that 'age is finally catching up with her' and she is perhaps a little too old to say 'I'm young, there's nothing to lose' anymore. Still, she continues to look for more opportunities to expand her brand name and looks towards setting up an outlet in Malaysia. Xueru is also planning to open a central kitchen where she can better cater to the demand from customers as well as franchisees. She believes in the importance of fully funding her own business.

'It is only when you put everything you have in, then will you do your best. If you get funding, you'll not take it seriously.' That being said, she adds: 'The satisfaction that you get here is more than what mere dollars and cents can quantify.'

Most travellers don't use 30% of items they pack

Most travellers don't use 30% of items they pack

Most travellers don't use 30% of items they pack

 

New research from British Airways has found that 90 per cent of Britons don't use up to 30 per cent of the items they take away with them on holiday.

The survey, conducted on behalf of the UK flag carrier by Opinion Matters, asked travellers about the most random item they have ever taken on holiday and not used.
Teabags and kettles featured highly in the list, as did foodstuffs and condiments, including sardines, peanut butter, marmite and super noodles.

Responding to the findings, BA's branding and marketing boss Abigail Comber said: "(Brits) don't really want to have to choose between books, toiletries or teabags, or to dress kids in half their holiday clothes just to avoid excess baggage fees."

She added that more than one in five customers does not look into baggage limits before they travel.

Unlike the stringent luggage restrictions on most low-cost carriers where checked luggage carries additional charges, BA passengers can check in a bag weighing up to 23kg - and carry two bags on to the plane - for free.

In the survey, travellers from Scotland and the east of England were found to have paid the most in excess baggage fees. An airline representative did not know why this may be.

BA argues that weight limit allowances are a big factor in airline selection. According to the airline's Amanda Allen, "When people realise how much more they can take and that the price is included, it becomes more important. Especially people travelling with families."

Over 40 per cent of the 1,176 people questioned in the survey admitted to packing three or more pairs of shoes, while one in five thought it necessary to bring 10 or more pairs of underwear.

The findings, released today, showed a smaller contingent, one in eight, took three towels or more for a week-long overseas break.

"Some of the ideas help them to streamline their packing," Comber told Reuters, "like taking a sarong if a beach towel is too big, or packing your swimwear in your hand luggage... We want people to pack based on what's most useful to them."

"We have thousands of people working for British Airways who fly all the time and have packing down to a fine art. It only seems fair to pass those tips on if it makes life easier for our customers."

Trimming the fat with the ultimate money diet


Tuesday, Feb 21, 2012
AsiaOne (Singapore )

Trimming the fat with the ultimate money diet
By Brian McGrory

We all like to tell ourselves that this year will be different, that we will lose weight, save money, take up a new hobby or quit smoking.

We start the year with such good intentions but can sometimes set ourselves goals that we find hard to keep!

Don't overload yourself with a huge list of goals for the year to start tackling straight away, take things one step at a time.

Pick one goal to begin with and stick to it. Top goals for many people include losing weight and saving more money.

So let's delve into the ultimate diet - the money diet - and get your bank balance in shape and fighting fit!

Counting the financial calories

Taking charge of your financial future isn't rocket science.

You just need to be smart, organised and disciplined. You know when you want to lose weight you count the calories and compare them to the recommended daily allowance? Well the same goes for your money.

Sit down and calculate your income each month and what your outgoings are.

Be honest with yourself and include everything - from the big payments such as your rent or mortgage, to that coffee you buy on the way to work every morning.

Now you are ready to start trimming down the outgoings.

Like a healthy body needs a good diet of vitamins and minerals, a good quality of life also needs some basics like a roof over your head, electricity, food and the means to get to work each day. These bills are both regular and essential, so make sure they are the first thing to go into your brand new budget.

To keep in check with these important bills, debit cards are rising in popularity, often replacing payment by cash or check.

A debit card is unlike a credit card because it's tied directly to your bank account. When you make a payment with a debit card, it withdraws money directly from your bank account without you having to worry about paying it back later.

You can also check with your bank or biller to check if they allow you to link your bills or loans payments directly to your debit card account so your bills are paid automatically before the due date. That way you don't have to worry about late fees and you have more time to complete the other tasks on your to-do list.

Working out your new diet

So you have your essential bills included in your new money diet, but are you still finding it hard to sort the essentials from the luxuries? Here are some tips:

Wholesome food Vs Junk food: Question what you need and want you want. Make two lists - one for needs and one for wants and as you are making the list ask yourself:

1. Why do I want it?

2. How would things be different if I had it?

3. What other things would change I had it? (for better or worse)

4. Which things are truly important to me?

5. Does this match my values?

Set guidelines: We all have different budgets based on our needs and wants. You may need to make adjustments for that daily latte fix.

What's your recommended daily calorie allowance: Add up your income. To set a monthly budget, you need to know what's coming in.

Make sure you include all sources of income such as salaries, interest, pension and any other income sources.

Financial calorie intake: Estimate your expenses. The best way to do this is keep track of how much you spend each month. Categorize spending depending on your needs and wants.

Are you overeating? Managing your personal expenses is like identifying the difference between your recommended daily allowance and your actual calorie intake.

Once you've created your budget, keep records of your actual income and expenses. This keeps you on top of the difference between what you budget and actually spend.

Track, Trim and Target: Once you start tracking, you may be surprised to find you spend hundreds of dollars a month on eating out or other flexible expenses. Some of these are easily trimmed but that doesn't mean you have to cut out everything you enjoy.


Cutting back is usually a better place to start than completely cutting out. Be realistic. It will help you to be better prepared for unexpected costs.
In any given week we buy and spend on many things and it's often those smaller purchases that get lost in the mix. Knowing the miscellaneous expenses may just be what you need to know so you can reign in your spending and stay within your means.
Think of that extra magazine as the sneaky biscuit making its way into your diet and messing with your calorie intake! With everything else going on in our lives keeping track of monthly expenses can be daunting.

Simplify your life by using your debit card for your daily expenses, which will allow you to track spending with your bank statement and identify how much you're spending and on what.

The SMART way to slim down
Unfortunately our bank balances have a limit so it helps to have a goal in mind when thinking about ways to trim and cut back.

It's all about SMART financial planning: specific, measurable, attainable, relevant and timely.

Each step takes your aspirations and gives them a benchmark which is easier to attain than some lofty goal.

Specific: Be specific on what you want. Avoid just saying "I want to save money". Instead say "I want to travel to Bali."
Measurable: Give your goal a benchmark. For instance traveling to Bali will cost $2,000 and if you have $800 saved your measurable goal should be to save the additional $1,200 you need.

Attainable: Make your goal realistic. Saying you want to travel in Indonesia for 6 months staying only in 5 star hotels may not be attainable if you only have $800 to spend. Instead think what is within your means, for example, "I am going to save each month so I can visit Bali for 3 days and stay in a 3 star hotel.
Relevant: The goals have to make sense to you. It's not practical to work toward a goal that doesn't fit your need. For example, if you are going to Bali for your wedding anniversary, you may not want to be staying in hostels and want to save for something a bit special.
Timely: Set a definite target date. Set a date for your trip and work towards it. To stick to your new financial diet, remember to keep your budget planner and goals in mind every time you spend.
Remember, there is nothing wrong with treating yourself every now and again, but if you overindulge too often you can find yourself gaining some unwanted financial worries!
So stay smart, budget, and spend within your means to keep your bank balance nice and healthy. Your wallet will thank you for it!

Brian McGrory is the Head, Consumer Debit Products – Asia Pacific, Central Europe, Middle East and Africa, Visa.