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Financial Planning and its key components

What is Financial Planning?

Financial Planning is a process whereby one tries to determine his financial status, and set a financial goal and means to achieve the goal set.

As one old saying usually quoted – "if you fail to plan, you plan to fail."

To put it simply, without a proper financial plan, a person will not know his financial needs and wants now and the near future.

Overall, we will be more focus in our daily financial requirement and will have the meaning goal to strive for if we have good financial plan.

Why do we need a financial plan?

To organize and plan our financial requirement in a more orderly and structured manner, ultimately we need financial plan.

By having good financing planning, we can work out our objectives, policies, procedures, program and budget our financial activities,  at the same time to ensure we have an effective and adequate financial measures.

The importance can be outlined as-

  1. It enables us to have adequate funds.
  2. We have a balanced inflow and outflow of funds and as a result have a stable cash flow.
  3. Helps us in ensuring we have growth of funds and in the long run we can have better survival in any financial crisis.
  4. It ensures that the surplus of funds are easily invested in instruments which generate good returns.
  5. Eliminates any uncertainties with regard to changing market trends which can be faced easily through enough funds.
  6. Reduce the uncertainties which can be a hindrance to any ventures we want to embark in.
  7. Financial planning plays an important role in our daily life and we need to pay serious attention to it.
  8. Financial planning will help us in a long run, especially in time of crisis.

What are the main components of Financial Planning?

  1. Debt management
  2. Risk management
  3. Investment planning
  4. Tax planning
  5. Retirement planning
  6. Estate planning

All things considered,  if we follow the above six points to work out our financial planning, generally speaking, we do not even need to consult financial planner to devise a plan for us.

Benefits of Good Financial Planning

  1. We can become more discipline, set our priority and work diligently towards the goals we set.
  2. A good financial planning especially in this COVID-19 pandemic time can help to give protection to us for unexpected illness and loss of income.
  3. We can enjoy financial freedom when we retired and do not have to worry about money.

Conclusion

In short, we only live once, so we need to make full use of our live now and enjoy ourselves by having a good financial plan.

Would You Like to Know Exactly What to Eat to Lose Fat and Get Healthy Without Giving Up Your Favorite Foods or Starving Yourself?

This is the common question people ask when they want lose weight, especially nowadays with this COVID-19 pandemic creating havoc in everyone’s life, and forcing people to stay at home and work from home.

By staying at home, one tends to put on weight, all the more so when you are not able to go out to do your usual workout or just take a casual walk in the park.


If you're serious about achieving permanent fat loss, and a complete health transformation while eating your favorite foods every meal…then perhaps you may want to try out this diet plan

It was reported that modern science especially those in diet and food science claimed that there is a diet which can strip off body fat while still allowing you to eat good food which usually will let you put on weight.

People usually have the opinion that they can not lose weight because they are genetically “doomed”, however, please do not be despair, no matter how frustrated you are after trying so many diet plans, you can still have the body shape you are looking for.

You see, getting into fantastic shape isn't nearly as cruel as nutrition and fitness “gurus” want you to believe.

Do you know the four most common diet mistakes that most people made in their efforts to have their dream body shap?

Mistake #1

Not being in a calorie deficit

I read somewhere the following:

“According to some “experts,” losing weight and keeping it off is all about controlling the types of food you eat.

They say particular foods are "fattening" because they pause fat burning and cause a hormonal environment that leads to weight gain... while other foods "balance" the system and stimulate fat loss.” Unquote

This is quite true, however this does not really give you the real picture of what actually is.

If you really want to have an effect weight loss and happy to see the scale number is thumbling down, you must make sure you have a diet of deficit in calorie.

A simple theory is, the more calorie you take in, and less calorie burnt, then you will definitely see the increase in the weighing scale pointer, likewise if you burn more calorie than you consume, the scale will come down.

According to one professor of human nutrition at Kansas State University, Professor Mark Haub, in his case study, he proved the above theory of more calorie burnt with less calorie intake

“He carried excess pounds and, knowing the importance of calorie balance, decided to do an experiment. For two months, he only ate foods like Twinkies, Oreos, Dorito, and protein shakes while maintaining a daily energy deficit of 800 calories.

The result? In just two months, he lost 27 pounds and reduced his body fat from 33.4% to 24.9%.”

If you want to lose fat, you must be in a calorie deficit.

Mistake #2

Severe calorie restriction that gives you the metabolism of a 90-year-old lady

Severe calorie deficits screw up your physiology. That's why almost all low-calorie dieters regain the lost pounds when they stop the program... plus, most often gain some more on top of that.

That is what is common knowns as “rebound”

Our body works in such a way that it can adjust itself if you are starving yourself, it will slow down the metabolism in order to prevent you from losing more weight

As a result, your body’s metabolism will plummet to prevent you from losing weight. This means that as soon as you come off your diet, your body will store as much food as possible as fat to prepare itself for the next starvation.

That’s why it’s essential to eat according to a calorie target fine-tuned for your body, your situation, and your goals.

Mistake #3

Thinking all calories are created equal

Most people want to lose weight in order to have a healthy body and also try to look better in appearance and as a result of it, give people an impression of a confident person.

So if your main objective is to have a healthy body and good feature, you should aim to have fat loss instead of weight loss because fat loss is actually better as you may lose weight but still carry a lot of fat which is not healthy at all.

In term of fat loss, it is important that we look at our intake of protein, carbohydrate and fat nutrients in the food we are taking. This is to make sure our body set up the food intake in response to the meals we are taking.

It is important to know that if we take in too much carbohydrate, this will defeat our effort to maintain a calorie deficit diet as carbohydrate actually increase the insulin, a hormone that stall the fat loss in one or two ways.

  1. Elevated insulin levels block the release of fat from your fat cells. And if your cells can't release fat, your body can never burn off the excess.
  2. Elevated insulin levels cause the storage of energy found in your bloodstream to morph into body fat cells. This means the energy won’t get burned off by tissues like muscle but instead snakes its way around to places like your hips and abs.

That’s why researchers call insulin the "fat storage hormone," and that’s why carb-rich diets make it nearly impossible to lose fat.

Mistake #4

Following an unrealistic, overly restrictive diet

Whenever one embark on a diet program, initially they will have the will power to follow the restrictive diets plan, until the day their  willpower run out and decide to give up on the diet plan.

It could be because of the desired result is not apparent, or the willpower is low now

If one does not have the determination to see to the end of the strict diet program and along the way, may make some more restrictive plan or listen to some one who claimed his or her method is more effective, however after a few weeks, the results do not seem to be very satisfactory, one may decide to call it a day and go back to indulging in good food and say -why suffer, just enjoy good food!!!

A Keto Meal Plan Customized to Your Body, Situation, Goals, and Taste Buds

What is a Keto Diet Plan?

( the following are quoted from the promoter of this KETO Plan)

A keto diet is an eating style where you consume almost no carbs, moderate amounts of protein, and high amounts of dietary fat. So, you’ll be eating tasty high-fat meals like ribeye steak with roasted garlic and butter.

“Why would you do that?” you may wonder. Well, a very low carb intake puts you into a state called “ketosis.” You see, under regular circumstances, your body relies for the most part on glucose (the stored form of carb).

When you minimize your carb intake, however, there's not enough glucose available for your body to fuel all its functions. And because some tissues like your brain cannot use fat for fuel, your body needs an alternative energy source to stay alive.

That’s where ketones come in. Ketones are chemicals produced in your liver when glucose is scarce. Various tissues like your brain can use these ketones for fuel when glucose is absent.[28] That's an excellent outcome because, otherwise, you would die.

Now, when your body uses primarily ketones and fatty acids for fuel, you're in a state called “ketosis.” That’s invaluable because...

Ketosis Gives You an “Unfair” Advantage on Your Fat Loss Goals

Reason #1

Significantly increases fat burning

Reason #2

It’s simple and easy to follow

Reason #3

Hunger cravings will fade

Reason #4

You don’t have to exercise to reap the benefits

Reason #5

It’s healthy and safe

Reason #6

You’ll lose weight like clockwork

If you want to learn more about this KETO Plan, Click HERE

...continue reading "‘Custom Keto Diet’"

Investment Scams, is it common in today's environment?

How do we avoid investment scams during this COVID-19 pandemic when everybody is desperate to make more money?

With this COVID-19 pandemic creating havoc in everyone's life and businesses,

  • most people are affected badly,
  • some even lost their earning power,
  • some are short of financial resources and desperate to find ways to increase their income.

What people will do in desperate situation?

  • Some people are looking at ways to earn a living,
  • or improve their income,
  • others will think of investing in some financial instrument,
  • they hope this will be the way to go and earn more income.

Why do people invest?

With the bank interest rate at all time low, people will believe putting their money in the bank will not give a good return.

Human being by its nature, will always look for high return on investment.

Hence we will tend to look at investment instrument to boost up our returns and make more money.

Therefor in the eagerness to go after high returns on investment, people tend to forget the basic rules of investment.

The saying of Too Good To Be True especially those schemes which promised return of investment of more than 10% per month.

Some reports of the Investment scams and their methods

In the News published by The Straits Times of Singapore on 3rd April 2021,  under the heading - Promised Big Returns, Only To Leave Many High And Dry.

The Straits Times reported that a total of 15,756 scams in 2020,  and one of the scams involved cryptocurrency trading platform.

There are quite a few such platforms in Singapore.

MAS - The Central Bank of Singapore, more commonly known as Monetary Authority Of Singapore, does not regulated some of the platforms of cryotocurrency.

Even the Prime Minister of Singapore also said in his Facebook page that some platforms used his profile, see the link .

You can see those scammers will take whatever actions and tricks they can, in order to get people to invest in their platform.

Every day, we can read about people being scammed, and with internet now more popular, and easily accessible in everywhere, it is even easier for scammers to take advantage of human greed and cash in on this.

How do we detect and learn how to spot investment scams?

You may want to consider the following points:

1. Risk Factor

Every investment carries risk, and if someone tells you, what they offer do not have risk or very low risk, go back to the basic motto of investing -- Too Good To Be True.

What do you need to do when you come across such a plan?

  • With internet and other resources, if one come across such an investment plan,
  • do carry out your due diligence and research,
  • especially for those investments plan, which claim to offer very good return with low or no risk.
  • If this is being offered online,
  • you can not even meet up with the promoter of the plan.

it is advisable to just drop this plan.

2. Prove of track records

When someone promote their investment to you, and claimed they can generate good and high returns,

Please carry out the following steps to check

  • do ask them to show documentary proof,
  • that they themselves have used the same plan,
  • and generated so much profit,
  • Meanwhile to make sure the proof being shown are statement from a Trading House or Bank,
  • which showed the promoter account with the transactions,
  • if the promoter of the investment plan is not willing to provide such a proof of track records,
  • hence, it is advisable to walk away from such investment plan.

3. Regulatory Framework

For any investment scheme, we need to ask the following questions:

  • Is the scheme is approved and monitored by the Center Bank of the country?
  • where the investment plan is originated, are there any chances the scheme is a scam?
  • even if it is not a scam, can the investors get back their money?
  • Moreover, Is the investment money protected?
  • What happen in the event the investment go south and fail to generated the returns as promised?

4. Guaranteed Returns and Investment

If the investment plan promised guaranteed return and investment amount is protected, all the more we need to carry out a thorough due diligence.

  • Check with the relevant authority of the authenticity of the plan,
  • Who are the people behind the plan,
  • Are they on the white list or not.

5. Influence Tactics

Some plan will always tell you the offer is expiring in one or two days,  if you do not take advantage of it, you will lose a lucrative return or discounts being offered, which on the surface of it, look like a good bargain if you invest now and can get an even higher return than promised.

This tactic is to take advantage of human perception that scarce opportunity is a good item, and should take advantage of it.

6. Referral Scheme.

Some investments scheme offer referral scheme, that is, if you bring in certain investors, the platform will reward you some monetary rewards, or certain percentage of the invested amount of the investors you bring in to the plan or scheme.

It is quite unusual for any scheme to offer commission to investors who bring in investors to the scheme, if it is a legitimate scheme, all they need to do is to just publish a prospectus and let those who are interested to invest in, no need to incur additional cost for the plan.

7. What Are Available For Investor To Verify.

In Singapore, one can always go to Monetary Authority of Singapore (MAS) website to check on the validity of the investor plan, and if it is an oversea plan, they always search on the net with website like the SEC alert list such as .

1. https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-alerts/investment-0

2. https://www.usa.gov/scams-and-frauds

These are just some issues about investors scam which we should be aware of.

You only live once, thus, it is important that we do not waste our life savings to scammers, in our eagerness to generate more returns on our investment.

Investment scams

To understand more on what we can do to detect fraud and scams, perhaps you want to learn HERE

if you have any ideas or wish to share your experience, do share it below in the comments section below.

What Is Investment?

Investment, a word which make a lot of people think, this is how to have more money, and is the way to have more money and gain some income.

When Did Scammers Strike?

However, a lot of people have not been successful in their investment, especially during depressing environment, be it business, economic, health whatever.

Consequently a lot of people, in their desperation, try all sorts of investment methods, and ways just try to make money or recoup whatever is lost.

And this is the time, crooks and scammers thrive on human greed, and take full advantage of the vulnerability of human, as a result of which, this further make the investors lost more instead of recouping their losses.

According to Federal Trade Commission in its report stated that in 2020, they received more than 2.2 million reports about fraud, and about $3.3 billion was lost, you can read more about this in here.

Why People Fell To Scammers?

The problem is a lot of people think it will not happen to us, just like a lot of people think, they will not be infected with COVID-19 virus, even though they do not take the basic precaution, like wearing masks or wash hands often. If we have this assumption, and lay down our guard, or get greedy with some money making opportunity, we may regret our action later.

The crooks and scammers are much more sophisticated, with their intelligence, just wonder why don't they put their skills to good use, maybe they find it easier to scam, and con people, so they can make a lot of money.

So what are the usual or the latest tricks these scammers employed?

1. Too good to be true investment platform

A lot of times, some platforms claim they can generate return on investment way above the norm.

Some investors tend to believe this lucrative returns, and decide to invest, only to find out later it is just another Ponzi Scheme in operation.

Most of the time, investors do not bother to carry out some due diligence and find out more about the platform before investing.

2. You are approached to invest in certain investment plan.

When someone approach you and tell you, that he has a fantastic investment scheme, whereby, if you invest, you are able to make a lot of money, this is actually a red flag for you.

You should raise doubt about this too good to be true investment plan, sadly, a lot of people decide not to take more action to find out more about the scheme.

3. Use of the latest technology

Scammer usually have the following in their website:

  • Videos about their products or investment plan.
  • Testimonies in video presentation from supposedly successful investors who reap huge and handsome returns.

Upon seeing the videos, some people tend to believe the investment plan is genuine.

They will think this investment product can be trusted, unaware the crooks have created the videos just to impress people.

If one bother to check and do more research, they will find out similar videos have been shown in other investment plan too.

4, The Truth Secret of the Successful Investment Plan

If a marketer wants you to invest in the product he is promoting, and claimed that his method and technology is more advance and easier to make profit,.

What will you do?
  • Do you believe in him and jump in and give him money to invest for you?
  • Did you ask him what his secret is?
  • How is his method successful?
  • Whether he can show some proof to substantiate his claim?

If he refuses to show you some concrete evidence, that by using his method or technology, you can reap handsome profit in investment, you need to raise red flag, and be alarm of possible fraud and scam

5. The Most Vulnerable Group

Which is the most vulnerable group for investment fraud?

The group which is more prone to financial fraud, is the retiree group with huge sum of money, as they tend to make payment for one lump sum distribution.

We need to educate those retirees:

  • Not to hand over their money to someone,
  • Wary of some one who claim can help them to grow their money.

Fraudsters are good at evoking emotion, especially among the older retirees, to hand over their money in dubious decision-making.

6. Is there a thing called Secret Formula in investment?

if someone approach you to invest with him, claiming he has invented a secret formula in investment, and sure make money.

Before you jump into the opportunity, do the following:

  • Do ask him to show some hard evidence his secret formula has generated huge profit for him.
  • Ask him to show his trading records,
  • bank accounts statement showing he has made so much money
  • using his so called secret formula.

If he fails to do so, or is not willing to do so.

This is the sign  you should just walk away from him.

7. Awareness of possible fraud.

The moment we accept the fact that we all are at risk to fraud, be financial, or otherwise, then we can safely say, we are at least at a certain level of awareness.

Who are the vulnerable group?
  • People who believe they are not vulnerable to frauds, and
  • these are the people who most likely fall into the trap,
  • After all they are not going to take necessary steps to protect themselves,
  • they are not aware and alert of fraud.

8. When Do Fraud Happen?

Fraud cases happen now and then.

It is more severe and rampant during crisis or disasters.

For example, the current COVID-19 Pandemic which has affected people from all walks of life, with people losing jobs,  businesses badly affected and forced to close.

When do fraudsters strike?
  • When people in general are eager to generate income,
  • In order to ease the financial strain.

9. Have some knowledge especially financial knowledge to be aware of fraud

Nothing beat having the knowledge, and able to identify possible fraud.

As mentioned by one expert, she said “Prior knowledge about fraud, even generally, is particularly helpful in avoiding victimization,” .

You can learn more about what she said in HERE. 

If you want to learn more about detection of investment fraud, click HERE

If you have any comments and feedback, do give your opinion in the comments below.

Why Choose Wealthy Affiliate as the platform for your online business?

Why choose Wealthy Affiliate? people may ask this question when you tell them about your online business.

Instead, I will just write a short note on why choose Wealthy Affiliate, as the platform for me to embark on my journey in online business.

I have been looking for one platform where I can learn, and at the same time, generate some passive income from online business, I have searched online about a lot of (internet) business platforms.

A lot claimed they help people to earn so much per day, some even conduct some training physically however need to pay a hefty sum in order to learn the basic.

What are the usual methods used by other GURUs?

The usual trick by all those who organized seminars before the COVID-19 pandemic are as follows:

  1. Charged a few thousands bucks,
  2. If you wanted to learn more advance skills, you needed to join a so called inner circle,
  3. Inner circle members need to pay a certain fee per month to maintain the membership
  4. These members can access to more advance internet marketing skills and find out the GURU's successful formulae.

Most people will agree, merely attending the seminar is not effective.

Usually a physical seminar organized over two or three days

However It only showed you, the very basic methods or introductory lessons on internet business.

Then what make Wealthy Affiliate different from the rest out there in the market, be it online or physical persons?

Well, I am looking at one platform which can provide continuous learning, also provide support whenever I have some questions or some issues which I am not able to comprehend, and which is not that expensive and affordable.

What Attracts Me To Wealthy Affiliate and Why Choose Wealthy Affiliate?

That is where I came across Wealthy Affiliate, and after going through the website, and studied what it had to offer, I decide to give it a try by signing up as an ordinary member, and going through the limited access of the training and so on.

After a few weeks of using the website as ordinary member, I decided to sign up as a premium member, now that I can access to more in depth topics and learn more, this is quite similar to attending an internet GURU seminar and you need to sign up as inner circle members to gain more.

However, the main different is Wealthy Affiliate is affordable, and before the recent upgrade of the platform, it was quite cheap.

As a Premium Member, one can have access to more topics and support from Wealthy Affiliate team,, especially the technical support team, even from the members who are ever helpful.

Since the fees per year is inclusive of the hosting and access to educational learning, so it is good that once one signs up, really focus on what are offered and learn as much as possible, go through the various training materials, and complete the assignments,

by completing the assignment, one would understand more about internet marketing, and how to make a living using this platform.

The ultimate aim is to achieve your goal of financial freedom and quality family life

Why Choose Wealthy Affiliate

What does the Wealthy Affiliate platform offer?

You can find the followings in the platform, I am only listing some key tools available :

  • Support (Live Chat, Site Support, Q & A)
  • Community
  • Training Courses, Step by Step
  • Weekly Live Classes (and 100's of hours of replays)
  • Online Entrepreneur Certification
  • Affiliate Bootcamp
  • The Affiliate Program
  • Networking
  • Building Websites
  • Website Performance Tools (SiteRubix)
  • Website Engagement Platform (Site Comments)
  • The Hosting Platform
  • Site Content Writing Platform
  • Keyword Research Tool
  • and others

To find out more, you can click HERE to explore more

In Summary, Is Wealthy Affiliate The Right Platform?

For me, this platform will be my focus for the next few months and use this to achieve my goal of financial freedom.

IF you have any comments and feedback, please do give your view in the comments section below.

Do You Want To Lose Weight?

Do you have problem of losing the extra weight?

A lot of people, especially females, find to it difficult to lose weight.

Despite trying various exercise programs, some find the results not satisfactory.

After some vigorous program, the rebound is worse than before.

Now you have an opportunity to try out this exercise program, which prove to be effective.

What is Yoga Burn?

  • Yoga Burn is a yoga exercise program
  • which helps one to keep fit, and
  • maintain a healthy body especially for the women.

You can follow this works out program easily.

It seems that quite a lot of women are hooked to this works out program, surely it is workable and show good results.

If you decide to try out this program, it will work much better if you can try together with a DIET program at the same time.

Does this Yoga Burn program work?

Any works out program will work if you follow the program diligently, provided you follow all the stages of the program.

In this Yoga Burn workout program, there are 3 phases of the program, mainly Phase 1, Phase 2 and Phase 3.

  • Foundation - help a person to build up a strong basic on which to grow personal fitness results.
  • Transitional - in connection with phase 1, or follow up from phase 1 to work out, the works out flow learned in phase 1, and create a continuity of exercise flow.
  • Advance Master - a combination of the previous two phases, and making one to tune her body, to make sure it works out your body metabolism.

Who Is Zoe Bray-Cotton?

Zoe Bray-Cotton is

  • An internationally certified personal trainer.
  • Also A yoga instructor,
  • Female transformation specialist,
  • Managed to help over 1 million female transform,
  • Certified personal trainer
  • The creator of international best-selling fitness systems for women
  • Programs include Yoga Burn, Yoga Burn Facebook and Instagram Community.

She was the lady, who created this Yoga Burn workout program specially for females to keep fit and healthy.

Hence , for those ladies who are eager to have a fit body, do try out this, and the results will show.

In Summary

How much are you willing to put in? if you want to have a gorgeous body, which is making head turn when you walk on the street? Yoga Burn is the one for you.

Consequently, If you want to learn more and understand more about her Yoga Burn program, click here

Exercise is supposed to help a person to keep fit and healthy, with this in mind, we train hard and eat well.

But then we still face some issues with our health, and doctors do not seem to be able to find out how to resolve the problem.

Yes, I am talking about hip flexors, You see, our hip flexors are the engine through which our body moves. They control balance, our ability to sit, stand, twist, reach, bend, walk and step.

If our hip flexors tighten,  surely it will cause a lot of problems and as a result, it will also affect our health.

How do we get tightened hip flexors?

1. The most common cause of tightening hip flexors is sitting too long in a chair, especially for those who have to sit in front of the computer for hours nowadays.

Hence, most of the time, we notice people who have been sitting too long, they stand up and move their hip here and there, however, does this help?

As you can see, weakness, shortening and tightness develops in the muscle through sitting for extended hours, furthermore poor sleep posture and even work tension and stress could be the results too.

What are the effects of tighten hip flexors?

If you have the following signs, generally speaking, chances are you have the tightened hip flexors:

  • Nagging joint pains in your legs, lower back or hips
  • Walking with discomfort
  • Hips locking up
  • Bad posture
  • Trouble sleeping
  • Sluggishness in day to day life
  • High Anxiety
  • Digestive problems
  • Compromised Immune System
  • Circulatory issues
  • Loss of sexual performance
  • Lack of Explosiveness in the gym or sports

Does Static Stretching help in curing tightened hip flexors?

Studies showed by doing static stretching will not completely cure tightened hip flexors.

Even though it may just provide a temporary relief of the tightness of the hip, therefore to learn more about, you may want to click HERE

If you want to learn more and resolve your hip flexors tightness problem, do click on the above.

By doing stretching exercise, even though it may help for those who has been sitting too long.

However, in the long run, you want to try some exercise, to loosen your muscle, how about try YOGA?

What is Goal Achievement?

With goal achievement, it certainly creates satisfaction.

Our wonderful life usually happens in the journey towards attaining ours goal.

To attain our goals, we take action based on inspiration, hope and motivation.

However living a wonderful life can happen, regardless of achieving a goal or not.

So if you embark on some fitness program to keep yourself fit, and achieve the goal of reducing your weight, say from 80 kg to 67kg, then go for it.

Assuming 67 kg is your ideal weight, and if you can achieve the goal, it will be a huge satisfaction, and you accomplish your mission.

I have seen my friend trying her best to do some flat belly exercise, and does not seem to get anywhere .

One day, she tried out something, which I have been telling her to do, and it seemed it worked!!

This is just one of the examples of achieving goal set.

Goal Settings and Goal Achievement

In our life, we set a few goals since birth, since the day we started to know our surrounding.

As we enter school age, we set goal to have better grade.

Then we set goal to finish our education at tertiary level.

After that, we start our working life, we set another goal, to reach certain level in corporate world, if you are in the corporate world.

For those who are self-employed, earning passive income in online world, or self-made entrepreneur,  and making  money online, we will set our goal of so much per night.

So is goal setting that important?

Goal setting is just one tool we use to achieve our target.

We  use  goal setting as a barometer to focus on the task we have in hand.

Just like in Wealthy Affiliate journey, some set the goals as follows:

  1. how much money to make per day.
  2. The amount of money to make per week.
  3. What will be the amount we are aiming for per month.
  4. The goal of money made in a year.

We have a sense of satisfaction, the feeling of mission accomplished, when we achieved our goals.

However, the start up may not be smooth sailing, as people thought it was.

Without hard work and hours spent, focusing on setting goals,  trial and errors, we say we have achieved our goal, once we see the light at the end of the tunnel.

goal achievement

10

What is COVID-19 and How Has It Affected Us?

COVID-19, a term used to describe the pandemic happened in 2020 all over the world.

The most searched word at the moment and the dreaded word in almost every one's mind.

So what is COVID-19? and what has it done to change mankind thus far?

COVID-19 or Coronavirus as we initially called this virus, or some people referred to it as Wuhan Virus, since it was from  the City of Wuhan in China.

Effects of COVID-19 

Because of this virus, it changed a lot of things in this world,

  • force human to make changes, and
  • discard their usual lifestyle,
  • some businesses even had to change their mode of operation, and
  • some were forced to close down being badly affected by this.

Governments all over the world initially treated it as just another flu type of virus and some were ill prepared for this, eventually every country decided to follow China's way of dealing with this pandemic by locking down the whole city.

Lock Down, Restricted Movement Stay Home Order, Circuit Breaker

To deal with the human traffic so as to curb the spread of this COVID-19 pandemic, there are so many names or terms used, such as:

  • Locking down the city,
  • restricted movement,
  • stay home order or
  • circuit breaker as Singapore decided to have a more subtle name for their action.

One of the lock down effect was the closing of border, and this restricted the movement of people from one country to another, even for country with proximity like between Malaysia and Singapore, which was linked by a causeway,

One the busiest border crossing in the world, whereby at least 300,000 used the causeway to move either way between the two countries, it was practically deserted during the MCO (Movement Control Order), the term used by Malaysia, and Circuit Breaker, the term used by Singapore.

Industries Affected By Lock Down

The first industry badly hit by this closing of borders is the airline, most of the airlines decided to cancel their flights, and have the air crafts grounded, the only flight operating was mostly the cargo plane, which carried the essential goods from one country to another.

What To Expect Post COVID-19?

Now people are talking about post COVID-19, what is going to happen, and what can we learn from it.

Impact

SARS had some impact on human.

When at the height of it, people were talking about being hygienic and so on.

Cleanliness was the top priority, even in some restaurants, they would not have the cutlery on the table until the customers were at the table, places like Pizza Hut used to have the fork and knife on the table, even though there were no customers, but during SARS, they decided to keep all the forks and knife.

And now COVID-19, the situation was worse, restaurants had to close and only allowed takeaway.

Luckily with the advance of technology, and the emergence of APP, people can now order food online, and APP to search for food delivery, and most of the food outlets decided to work with the delivery companies, this is to ensure they still have customers during this challenging time.

Work From Home

Work from home became a norm for most of the companies.

This may become the norm even after post COVID-19, this will definitely affect the office building owners, as their office rental incomes may be badly affected post COVID-19.

Once the lease period expired, some companies may review the need, and decide to cut down the size of the office space, since most companies have already had ample practices during the lock down, and work from home for few months, this will help the companies to save quite a substantial amounts on rental payment for office space.

With the reduced office space,  less electricity consumed, less office stationery used, the productivity of the staffs may improve also, it may also help to improve work life balance, especially in Asia countries, whereby working long hours in office is the norm.

Adapt & Innovate

Business will have to adapt to the new norm in operating their businesses, after learning from the lock down and making changes during the lock down, if the businesses are not prepared to deal with the new norm, they will be phased out post COVID-19.

The one which can adapt faster and be prepared during the lock down, and hit the ground running after the lock down, will be the one which will gain more and achieve a greater height.

“Times and conditions change so rapidly, that we must keep our aim constantly focused on the future” – Walt Disney

https://www.pexels.com/@samerdaboul

Even though times are bad, and difficult for most of us, especially those in business, when COVID-19 affected every one in one way or another, however, this not the time to cry and whine about it, so much uncertainty about the future, and how to survive in this uncomfortable situation, we have to start taking stock of the situation, and learn something from this, the earlier we accept this, and move on and start making changes, innovate and adapt to the new norm, the earlier we come out victorious and stronger, to face the challenges ahead.

To move forward, we need to make profound changes, and move out of our comfort zone and innovate.

In scientific term, as stated by the American physicist and philosopher Thomas Kuhn, a concept called Paradigm Shift, which means a fundamental change in the basic concepts and experimental practices of a scientific discipline.

We can relate the changes we need to make to survive COVID-19 as a paradigm shift, since we need to make a profound change in a fundamental model or perception of ways we do our works and live our life.

What Businesses Should We Do In Case We Want To Start A New Business?

discuss business@cheeshi

During the lock down or Circuit Breaker as in Singapore, only certain businesses are allowed to continue to open, the rest needed to work from home or shut down completely.

Businesses involved in food and beverage, basic groceries, logistic, medical supply, health care, waste management, transport and telecommunication business are still open during the lock down.

Food stalls, fruits stalls, vegetable and meat sellers are doing brisk business during the lock down.

Super markets and groceries shops are also doing good business during the lock down because people still need to buy the necessities.

long queue at supermarket check out, @cheeshi

Restaurants, coffee shops and hawkers center operated in the following manners:

  • can only cater for people who buy foods for take away, and
  • no dine in is allowed, and
  • this created good business for delivery people.

For manufacturing entities, during COVID-19, it is obvious that those involved in health care and medical supply businesses are in great demand.

Factories involved in manufacturing surgical masks, disinfectant, gloves, medical PPE, ventilators and medicine were operating during the lock down.

On the other hand,  those in other types of manufacturing which are not essential would have to stop operation.

We can see from this lock down, what types of businesses still need to operate, and no need to take forced rest.

What Types Of Businesses Are Badly Affected?

COVID-19 affected Hotels business badly since the borders are close, travelers could not cross over from another country, if the lock down last few months, the hoteliers will have problem surviving unless they have a lot of cash reserves.

What about Transport business like taxi and buses?

Fewer people were taking the transport because of the stay home orders, they will only ferry the people who are in the essential business.

taxi returned affected by COVID-19 @cheeshi

As mentioned earlier, one of the badly hit is the airline, no cross border traveling mean the airline need to ground their planes and in the case of Singapore Airlines (SIA), SIA re-designated some of their crews to help out in hospitals, to attend to those who were not in emergency medical care, this is to enable the professional and trained nurses to attend to COVID-19 related cases.

What Can We Look Forward To Post COVID-19?

  1. 1. Change of business model

If the business wants to survive post COVID-19, what do they need to do?

  • They need to innovate and
  • adapt to the new norm, and
  • adjust the business model,
  • take action and
  • create results
  • instead of stand still or
  • shut down completely and
  • blame the pandemic for the chaos.
  1. 2. Prepare for the future

In time of crisis like what COVID-19 has created, it is important that business people

  • show some better character in this high stakes challenge, and
  • focus on objectives that can produce results.

And here I quote the Singapore Minister favorite words – to think two steps ahead, we also need to set long term goals in order to meet the uncertainty and challenges ahead.

  1. 3. Embracing new digital solutions and technology

This is the time

  • to review and
  • analyze what we have been doing, and
  • make adjustments and
  • adapt
  • so that we can be well-prepared for the future and
  • no time to whine on the losses and
  • lost opportunities.

https://www.pexels.com/@pixabay

  1. 4. Have a good game plan

Post COVID-19, we must have

  • a good game plan
  • so that we can focus on our primary objectives and
  • focus on our secondary objectives,
  • prioritize key initiatives and
  • take action
  • to ensure we meet the clear targets despite the uncertainty and so many unknown factors.

We learn along the ways, and make amends, so that we do not lose our focus on the task ahead.

Just like what Sir Winston Churchill said “ Don’t let your crisis go to waste!!”

You may also wish to read and learn about COVID-19 in my post, please HERE

WallStreet Forex Robot 2.0 Evolution

If you have any questions or wish to share your experience on this topic.

Please feel free to leave your comments, questions and your experience in the feedback space below.

I would be glad to get back to you and thank you for your feedback, comments and sharing of your experience.


The COVID-19 has so far shown a lot of social issues and discussions on everyone’s mind, at least it brought us to really think, about what were going on in our daily life, which we took it for granted, most frequent discussed subject is the plight of the foreign workers in Singapore

One hot topic in every one's mind is the foreign workers, whose infection appeared to make everyone worried, that Singapore was one of the epic center of the pandemic of COVID-19

As at 9th May 2020, the total numbers of confirmed cases of COVID-19 in Singapore was 22460, you can go to this site to see more details

WallStreet Forex Robot 2.0 Evolution
As MOH Press Statement showed majority of the cases were in the dormitories, where most of the residents are the foreign workers who come to Singapore to work.

Social Media had a a lot posts and commented about the conditions in the dormitories, and there are not shortage of negative comments about the foreign workers.

However, how many of us do really put ourselves in the foreign workers’ shoes and look from their point of view?

I like the Facebook post where the speaker said about the plight of the foreign workers, you can see the Facebook post here .

We will not go into details of these, neither are we going to comment.

There are a lot of comments in the social media.

Comments in Social Media

You can find comments in the social medias as follows:

  • Facebook,
  • Whatsapp,
  • Twitter,
  • Instagram,
  • Telegram,
  • or whatever social media channels you are used to surfing..

You can draw your own conclusion based on whatever you know and read

Let's learn about the plight of the foreign workers, who make an effort to come from their home countries, be it Bangladesh, India, Sri Lanka, Myanmar or Nepal and China to come to Singapore, hoping to earn some money, so they can provide a better living conditions for their families back home.

Third party account of migrant worker experience.

This is a third party account of what a migrant worker encountered.

I happened to know him, and close with him, and treated him as one of my friend.

It may not be the same with other migrant workers, or it was just sheer bad luck on his part that he worked for a monster employer.

Perhaps, for those in the countries mentioned above, they may want to think twice, before they decided to embark on this journey to financial freedom, which they think they can achieve in Singapore if that is what they are thinking.

Merlion Icon of Singapore @cheeshi

The Journey Begins

For some of them, in order to take that first step to come out, from the comfort of the home country with the family, they have to borrow some money and pay to the local home agents to come over to Singapore.

To them, it is a new beginning, some agents  told them , that they could make enough money, and good money which they might not be able to make in their home countries, so they thought.

However, the reality of this harsh truth strike them, when they touch down in Singapore, and when the Singapore Agent met him at the nice airport called Changi Airport.

Changi Control Tower @cheeshi

To make it to Singapore, some of them incurred so many debts, having to pay the home agent, as well as the Singapore Agents who charged the big amount for bringing them in.

The reality and the fantasy

Every one thought the foreign workers earn a good salary by coming to work in Singapore.

Especially In the construction industries.

Since the employer who hired him provide almost every thing. Therefore the foreign workers have sufficient money to remit back to their home countries.

So that was what every one in the public thought. The government said all foreign workers from the above mentioned countries could only apply for S Pass or Employment Pass, and there is a minimum salary if you applied for the two Passes.

The workers from the above mentioned countries could not apply for the work permit.

Conditions for hiring a worker from oversea?

Based on the requirement of Ministry of Man Power of Singapore (MOM), before a company brings in worker from the foreign country, the followings need to be done.

  • the employer has to apply for necessary papers,
  • Include a copy of the employment contract which clearly state the salary offered
  • Salary to the new foreign worker is SGD $ 2,400, the minimum salary scale for the S-Pass, you can check the criteria of S-Pass in this link,

Now the foreign worker thought he would be paid SGD $ 2,400 per month for working in Singapore.

SGD $2,400 will be quite a substantial amount for them back home.

This will help to ease his financial burden at home.

The different between Ideal and Reality

As I mentioned earlier, sometime the ideal is not the reality, and the truth hurt.

The reality does not conform with the ideal, but confirm it.

The renowned French Novelist Gustave realized it well, and made everyone know that - Reality does not conform to the ideal but confirms it.

In the Facebook link I shared earlier in this article, the speaker was doing a survey - on how much a foreign worker was making a month, and the result showed the amount was quite low, and he was quite right about the amount.

How much does a worker make per month?

Let’s have a closer look at how much actually a foreign worker makes per month.

Based on his contract submitted to MOM, it should be SGD $ 2,400.00

When he reached Singapore and reported to the employer, direct from the Changi Airport, his boss most probably told him that his salary would only be SGD $1,500 per month the most, if not SGD $1,000.

So every month, when he has his salary, he would have to withdraw SGD $ 1,400 and pay back to the boss in cash, assuming the employer told him his monthly would be SGD $ 1,000. This was similar to the modus operandi of a decided case in this link.

What most Human Resource (HR) will do?

  • Then the HR would inform him,
  • HR needed to deduct the air fare for the flight from his home country to Singapore,
  • more bad news for the foreign ensue, HR would inform him that he needed to go for medical checkup
  • before the MOM issued the S Pass, and
  • to go for medical check up, he would have to take leave to do so,
  • and since he would not be working, HR will deduct his salary
  • for being absent from work.
  • Assuming if the medical check up took one day,
  • then HR will deduct one day pay from his salary for the month.

After a few days when the medical report was ready, and he need to go and collect the report, and submit to MOM, again he needs to take leave of absent, and again, the HR would deduct his salary.

Dormitory/Accommodation Charges

Since he would most probably stay in the dormitory, the employer arranged that accommodation for the new worker, the employer supposedly paid the dormitory operator, for his workers staying in the dormitory as per his contract of engagement.

HR would then tell the foreign worker, that the company will deduct the rental paid to the dormitory from his salary.

The deduction will include
  • the bed rental,
  • service charge,
  • laundry service and
  • whatever charges the dormitory has.

From the above, we can see, in the first year or two,  the foreign worker financial situation is not glossy after all..

Working Hours

Now on the working hours, the followings are some of the situations:

  • they have to work long hours, and
  • most of the time beyond the legal working hours per day,
  • as stipulated in the Employment Act of Singapore, and
  • this is very common in Singapore, employers expect the workers to work long hours, and
  • if they are absent from work for even an hour,
  • Employers will deduct their salary,
  • on the other hand, even though they work beyond the normal 8 hours,
  • the employers will not pay them for the overtimes put in,
  • the employer would claim the contract stated that clearly,

For foreign workers working in the construction industry, if the authority such as MOM, NEA or others penalize the company for any delay in completion of work or fines.

What would the company do?

  • The usual practice is to deduct the salary from the workers,
  • The workers would take the blame for the faults,
  • which resulted in the penalty for the delay or violation of regulations.

So we can see the plight of the foreign workers, and their ideal working environment in Singapore, which is quite different from the ideal situation.

Quote on Reality and Perception

To quote a message I came across in Quara. Com

I quote “ Yes, undoubtedly the reality does not conform to our perception, of what an ideal is, but it does confirm what an ideal actually is in its own unique, beautiful and authentic way, perhaps that’s the reason why it is called ‘REAL ITY’. Unquote.

This could be something for those back home in Bangladesh, Sri Lanka, India, Myanmar and the subcontinent of Asia, who are contemplating to come to Singapore to work, to consider, before they think this is the way to escape poverty.

For Those Who Have Made It, What Are The Options?

For those who had made it,

  • Enduring the first two years of hardship, and
  • Saving as much as they could,
  • In order to repay the debts borrowed, and
  • Having some savings to go back to home land
  • After the end of the two years contract.
  • A good life lesson for them,
  • Make them the wiser,
  • Enrich their life
  • Some change their employers
  • Other Companies may offer a better deal for them
  • The deals may be better than the deal of first two years.

Some of them move on to a better pasture and finally managed to make some savings, and see the light at the end of the tunnels.

What future foreign workers need to look out for?

Potential workers who want to make the trip, it would be better that they consider their other options:

  • such as equip themselves with better knowledge
  • so that they can come here via the Employment Pass
  • Employment Pass which for that status will fetch a better salary than an S- Pass holder,
  • Hence the financial burden will be lesser and
  • it would also be easier for them to land a better job after the first contract end
  • if they find the first employer was not to their expectation.

Alternative Solutions For Would Be Foreign Workers

People who are still in the above mentioned countries, you may want to consider other options such as

  • it would be easier for them to try some online business, and
  • earn some passive income to supplement their household requirement,
  • instead of just dreaming of the good jobs in Singapore which may not be the case.
  • Tech savvy workers can learn new knowledge easily
  • better for them to embark on online training,
  • Use internet to earn some passive income

Perhaps they can look at this WA website, and learn some good lessons on doing internet business and subsequently achieving financial freedom.

In Conclusion

If you have any interesting pictures and views about this COVID-19 in term of social impacts on foreign workers, and wish to share your views, feel free to do so in the comments section.

I welcome your positive feedback and opinion, time being, stay safe and stay healthy.