While the status quo of transportation in Singapore is public transport, cars still make up a considerable portion of travel. But cars are no affordable alternative to public transportation as purchasing a car often requires a six-figure commitment. Thus, many people consider leasing rather than purchasing a vehicle. However, while leasing a car requires lower up front costs and peace of mind regarding maintenance and insurance, will it save the driver money over the long term? We break down the costs below. OWNING A CAR COSTS MORE INITIALLY, BUT IS CHEAPER LONG-TERM When deciding whether to buy or lease a car, drivers consider more than just the price of the vehicle. In the case of leasing, the convenience is an attractive benefit since you get a brand new car for a neat monthly price that includes insurance, roadside assistance, maintenance and road tax. Another benefit with leasing that can entice financially constrained drivers is that the upfront cost is an affordable deposit that … [Read more...] about Buying or leasing a car: Which one is cheaper?
By Lesley-Anne Scorgie Personal Finance Columnist Mon., April 29, 2019 When I first started my career, I wrote a column about why people procrastinate in filing their taxes. I interviewed an accountant whose business thrived in one area of specialization — filing late tax returns for individuals who were behind by at least five years. My research indicated that fear was the main inhibitor for late files. Simply put, tax procrastinators are generally scared that they’ll owe money and won’t have a way to pay it back. That fear breeds disorganization, making the situation far worse, and forces the individual to pay massive fees of many thousands of dollars to specialty accountants, like my interviewee, to clean up the mess. These exorbitant costs can be avoided by filing on time. We’re days away from Canada’s personal tax filing (and paying) deadline, which is April 30, so here’s how to deal with the fear of filing your taxes. … [Read more...] about Don’t let fear hold you back from filing taxes on time
MANILA -- Whether you clock in 8 hours, or 10, 12, 14, even gasp, 16 hours every day, you deserve a break on May 1. And since most Filipinos have the day off as Labor Day is a national holiday, why not take the time to do 5 simple things to check on your financial health. Yes, this may sound like a damper on your holiday plans, but there is real urgency behind this. The unemployment rate is inching up and latest data shows its at 5.2 percent as of January 2019. Meanwhile, the population continues to rise and is targeted to go from the 104.92 million recorded in December 2017 to 120 million in 5 years or by 2024. The peso is still weak next to the US dollar, but inflation has finally fallen within government targets of no more than 4 percent range. However, if your money sits in a savings account and the bank pays you a 0.02 percent interest, you don’t need to be a Math genius to know you are losing out. And then there’s the public sentiment that it’s getting harder to … [Read more...] about News This Labor Day, Make Your Money Work Harder For You