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Lifestyle

Is lasik worth the money?
Kenneth Fong
Kenneth Fong, Product Marketing at Seedly
Level 6. Master
Updated 5d ago
Hi Sam, My wife has always thought of getting LASIK but never committed to it because it's a pretty pricey procedure. So I can understand why you would have doubts about going through with this. But since you came to the SeedlyCommunity for advice, let's run some numbers and see if it's REALLY worth the money. TL;DR: Is LASIK Worth the Money? ! From an economic POV, LASIK will definitely pay for itself over time. Assuming you need eyesight correction starting from Primary 1 (7 years old) till you're 21 years old (recommended age to get LASIK). You'll need to account for 14 years of spectacles or contact lenses before getting LASIK. - Spectacles: $500 - Contact lenses: $5,704 (assuming you wear spectacles for 6 years before switching) - LASIK: $4,500 (assuming you wear spectacles for 14 years before LASIK) After that, the most economical option moving forward would be spectacles . Assuming you live to the ripe old age of 100, you'd only have to spend $3,100. If you stick with contact lenses for your entire life, it's definitely the most expensive as you'll be spending north of $6,000. While LASIK costs the most upfront, it's permanent (for the most part) so you won't have to pay any more to correct your eyesight. Making it the middle option in terms of how much you'd spend. ~ What is LASIK? For the benefit of those who don't know what LASIK is. LASIK or Laser-Assisted In-Situ Keratomileusis is a procedure to correct myopia, hyperopia, and astigmatism. FYI: it is NOT a 'hot' laser which burns off tissue. Rather, it's a 'cool' laser which vapourises microscopic layers of cells to change the shape of your cornea so that light may be better focused by the eye. Who is suitable for LASIK? According to HealthHub.sg a suitable candidate must: - Be at least 21 years old - Have a visual condition not exceeding 1,500 degrees for myopia, 500 degrees for hyperopia, and 400 degrees for astigmatism - Have stable vision without significant increase for the past one year - Have eyes free of injuries or diseases - Not be pregnant The reason why you have to be at least 21 years old, is because your eyes grow rapidly after birth and again during puberty until age 20 to 21. So before you even get to whether it's worth it or not, you're gonna have to be at least 21 years old first. And even if you aren't 21 yet, that means you can start figuring out how you'd like to save up in order to afford LASIK. In personal finance terms, this would be a short-term goal (typically something you aim to achieve with a time horizon of 3 to 5 years). Is LASIK worth the money? Let's assume that you (unfortunately) develop myopia when you are Primary 1 or 7 years old. I've shared earlier that you have to be at least 21 years old before you can undergo LASIK. Let's look at your options over a span of at least 14 years. 1) Spectacles If you went with a mid-tier option like Owndays. ! Source: Owndays You're looking at about $100 for a pair of spectacles. My wife's optician recommends that she changes her spectacles once every 3 years . So if you're wearing glasses for 14 years, you'd be looking to getting them switched out at least 5 times. In total, you'll spend $500 on spectacles for 14 years. 2) Contact Lenses If you're active and play sports, or just prefer to go sans glasses. You could get contact lenses. Usually, you'd graduate to them when you're older, say... in Secondary 1 or 12 years old. ! Source: Acuvue_ When sticking your finger in your eye doesn't sound like such a scary proposition... A box of dailies from Acuvue costs $72. Or if you get a whole year's worth, $688. For 8 years of contact lenses, you'd have spent $5,504. But don't forget that you still have to get spectacles for the first 6 years, and that would cost you $200. For a grand total of $5,704 . 3) LASIK There are many different types of LASIK treatments available. Here are just some of the more popular ones and how much they cost: - LASIK - $3,500 to $4,500 - Advanced Surface Ablation (Epi-LASIK) - $3,600 to $4,000 - ReLEx SMILE: $5,000 to $6,000 So on average, you're looking at an average of $4,000 to get LASIK. But again, that's only when you hit 21 years old. Assuming you went with the more economical option (spectacles) before you're 21, you'd have spent a grand total of $4,500 . So... is LASIK REALLY Worth It? All of my calculations only account for up to 21 years old. You need to look at how much you'd spend in your entire lifetime to really get a sense of which is the most worth it. If you stick with spectacles till you reach the ripe old age of 100, you'd be spending $3,100 in total. If you went with the contact lens route, it's already almost $6,000 as is. Also, you probably won't bother wearing contact lenses when you're, say... 50 years old. So you'll need to switch back to spectacles blah blah blah. Either way, you're definitely spending more than $6,000 in total. For LASIK, it'll cost the most upfront. BUT from what I understand, it's a permanent procedure. Meaning once you get it done, you won't need to spend a single dime on correcting your eyesight. So I'd say that's the middle tier option, and not a bad deal too since you're getting absolute freedom and won't have to live with: - foggy glasses when you step out of cold places - accidentally breaking your glasses and essentially being blind until you get a replacement - the discomfort of sticking something foreign into your eye with contact lenses - potential sore eyes from wearing contacts for prolonged periods of time In fact, the amount of money you'd spend on dailies could be better spent elsewhere. Like investing for your future. Or going on a holiday with your family or loved ones. So is LASIK worth the money? Absolutely. But what do I know? I've got perfect eyesight. 😏
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👍 7

Lifestyle

Finance Savvy

Are battery chargers worth it?
ATJY
ATJY
Level 5. Genius
Answered 3h ago
Hey there, I don't use rechargeable batteries these days but I used to own them, partly because rechargeable batteries in the past don't hold their charge as well. However from what I've read, rechargeable batteries can hold their charge much better these days and you can recharge them for many more times. Therefore, in today's context, it might make more sense to use rechargeable batteries. However, there're some instances where disposable batteries could be better such as for low-power (draws low current) devices such as wall clocks, bike lights, remote controls and calculators. Hope it helps!
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Credit Cards

Payments

Lifestyle

Which Mastercard credit card is good to have, just as a spare card?
YT
YT
Level 9. God of Wisdom
Answered 8h ago
Given your case, you may want to look at zero-fee credit cards since these expenditure may not be very frequent (depending) or high transaction amounts. For myself, I have been using CIMB AWSM (18-29 y.o).
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Retirement

Career

Lifestyle

Family

Any job recommendations for elderly who doesnt know english, or have any form of educational qualification?
Fahmiin
Fahmiin, Back End Engineer at Seedly
Level 3. Wonderkid
Answered 14h ago
Can try wood working if your dad is more of a hands on man like mine. For the mom, can go for selling home made goods usually food, crafts and so on. Not sure about actual jobs though.
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Education

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Savings

Investments

25 year old just ord, is it wise to go university? Or should I just work?
Having gone to university studying tech myself, I would say... if you can learn online, that would be the best. Reason being, in Singapore university, you would have to pick up on a lot of extra subjects not related to your main degree, like math, arts & social science subjects, general modules etc etc. Those will waste your time and money. HOWEVER, Singapore universities has 2 benefits: you get to network with alot of people, half of them will become bosses and entrepreneurs. Another is you get to exchange overseas to meet new ppl + experience new stuff. TLDR: go to university if you wan the experience, learn online if you wanna level grind quickly
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Lifestyle

Shopping

What are the everyday household items that are worth spending the extra money on?
Kenneth Fong
Kenneth Fong, Product Marketing at Seedly
Level 6. Master
Updated 2d ago
Hi anonymous, Great question! I consider myself a pretty frugal guy, so whatever's cheapest works for me and that's usually the house-brand stuff (I'm not picky, that way). BUT there are some things which I think are worth spending the extra money on, and it doesn't mean that it has to be the really expensive or premium stuff: 1) Mama Lemon Dishwashing Liquid I've tried UIC, Joy, and Biograde (which looks like some kind of industrial cleaner and costs less than $5 for a 3L giant container). ! Source: NTUC FairPrice But really. Mama Lemon is the only brand which I feel, really cleans my dishes right. Everything else feels kinda watered down. I'll always get the original one which comes in a yellow bottle or packet (aka 'Natural Lemon'). ! Source: NTUC FairPrice I have a refillable bottle which I got from Muji and use that to hold my Mama Lemon. So I'll just get the refill which costs $1.50 for 600ml (if you did the math, the Biograde one would be about $2.50 cheaper for the same quantity). Sometimes they even do a 2-pack promo. So that's when I'll stock up. 2) Energizer Batteries Cheap batteries (like the $2 ones which you can get at Daiso) are okay for toys. But if you're talking about stuff like the TV remote, smoke detectors, flashlights, doorbell and digital door lock. The stuff which you count on to NOT fail at the inopportune times... I'll always reach for a pack of Energizer batteries. ! Source: NTUC FairPrice I do NOT intend to be locked out of my home when some cheap batteries which I got for $2 die on me and I can't operate my digital lock. 3) Maling Premium Luncheon Meat On the rare occasions when I do need to get luncheon meat, for like a potato and luncheon meat fryup with tomato sauce. I'll get a can of Maling (costs about $3 to $3.50, depending on where you get it from). ! Source: NTUC FairPrice Taste-wise. It's undoubtedly the best luncheon meat you can get. Everything else which I've tried just tastes... off. I mean, it's already reconstituted pork. I really don't need any other weird fillers, flavours or mystery meat added. Also, Maling is like a nice mid-range price. Not as cheap as $2 (looking at you Mili Pork Luncheon Meat, which looks ALMOST like Maling so be careful when picking). And not ridiculously overpriced like Spam (north of $6). ~ Now, without getting into specific brands, here are some items which I personally believe are the best ever (and they're not always expensive too): 1) Old-School Stainless Steel Can Opener It's the type which you can get at the neighbourhood shop (which sells all kinds of odds and ends like brooms, spoons, drills, and door handles) or the wet market. The kind that looks like this: ! They cost something like $1 each and work on pretty much any kind of can in existence. You just use physics and your strength, and you'll open it. Trust me. The plier-type ones which are "heavy-duty" and have "multi-functions" will break down after like 5 uses. ! Source: Lazada And they aren't cheap either... 2) 3-Ply Toilet Paper Not too long ago, I've tried figuring out if expensive toilet paper is worth it. ! And have come to the conclusion that a 2-ply toilet paper should really be the minimum... However, my wife insists that we get 3-ply . If I try to get anything lower than that, she'll complain and say that it "feels like sandpaper". So we usually get something like this: ! Source: NTUC FairPrice That's a 20 roll pack of 3-ply that you can usually find in NTUC or Giant at the "purchase with purchase" section. Just look around the next time you get into your local supermarket. It's usually near the checkout aisles or near the entrance. You'll usually have to spend like $40 or something to be able to purchase it at a discount. And since we usually consolidate our weekly grocery runs, I'll always make sure to check if there's any 3-ply toilet paper available on offer. 3) Bath Towels Get those which are 100% pure cotton . Don't mess around with the microfibre stuff (think: the green SAF towels) which doesn't dry well. They're comfortable, absorb well, and won't turn to rags after 3 washes. I'll usually spend a little more on them because I take a shower every day, so I might as well get something that feels nice and will last for a while because I'll be washing them like 4 or 5 times a week.
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Fresh Graduates

Career

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Education

COVID-19

What type of degree I should go for in University?
Rachelle
Rachelle, Digital Marketing Associate at Seedly
Level 3. Wonderkid
Updated 1d ago
Hmm... I agree that cyber and tech is definitely the trend, and it should serve you well in the future. If you enjoy it, or think that you might have the potential for it, go for it! That would be the best of both worlds! But just my two cents as someone who is unfortunately hopeless with numbers. For me, I ruled out things that I knew I couldn’t do such as STEM courses (which are highly valued and sought after). So I was only looking at Humanities and Social Sciences, and in the end chose the latter because it seemed more applicable to me. But of course, reality check, skill sets like coding and programming are definitely a good to know / understand, I’ve seen so many job advertisements where companies are looking to hire people with these skill sets. In the end, your degree doesn’t necessarily determine your first job (unless it’s something super technical). It’d be great if you could choose something you enjoy! And perhaps for practicality’s sake consider a double major or a minor, if you decide you want another valuable skill set. All the best! 👍🏼
👍 0

Lifestyle

Is it worth investing in sneakers?
Kenneth Fong
Kenneth Fong, Product Marketing at Seedly
Level 6. Master
Updated 12h ago
Hi anonymous, TL;DR: Is It Worth Investing In Sneakers? ! I'd say, yes. And your returns will come in the form of capital appreciation . But similar to rare watches, antiques or art, you gotta know your stuff really well. You need to know which sneakers to buy, to sell, and to hold. And if you do, the kind of ROI you're looking at is pretty insane. That aside, if you're talking about building your entire retirement nest with sneakers... well... that's untested waters. And like any investor worth his or her salt would know, it's best to diversify across various asset classes. Sneakers: Buy, Sell, Or Hold? Collecting sneakers used to be limited to a few subcultures. It was grounded in hip hop, basketball, skateboarding... you get the picture. Basically, underground cultures which weren't mainstream before but over time have eventually become part of pop culture. Back then, you used to have to queue up overnight to get your hands on the latest pair of sneakers. The OG Singapore sneakerheads will know about Limited Edt at Queensway Shopping Centre and the many private launches and sneaker raffles they conducted. Only a select few (who were in the know) would be privy to that information as well as when to get them. For everyone else who might want to get the sneakers when they learn about them or see them on someone's feet, they'd have to turn to eBay, CraigsList, or FaceBook groups to buy them off someone else. The people who were selling these sneakers are known as resellers , and they kinda have a bad rep amongst sneakerheads (aka people who collect sneakers) because they tend to charge a huge markup on the original retail prices. Fast forward to today, you can buy sneakers via online raffles (aka lucky draws) or through an app. And as more and more brands start having collaborations, more and more celebrities and influencers like A$AP Rocky and Kylie Jenner started wearing, endorsing, and sporting sneakers... impressionable youths everywhere are gonna want to get their hands on a pair. Throw in: - Michael Jordan's and the NBA's influence on pop culture - exclusive launches - limited runs of sneakers - player exclusive sneakers which were only made and released for certain athletes - the rise of streetwear, and - social media (where it's basically a huge competition to one-up your peers; which melds perfectly with the whole culture of owning or wearing sneakers which no one else has yet)... the sneaker industry just took off. Even the resellers have gotten better at reselling sneakers too. Over time, the secondary sneaker market grew and reached a level of sophistication that it has now surpassed that of other past collecting fads (remember Hello Kitty dolls and Pokemon trading cards?). In fact, today, sneakers are a legit tradable asset class on reseller platforms like StockX, Flight Club, and GOAT. Just look at this Nike Air Max 1/97 Sean Wotherspoon , launched back in March 2018 for US$160 (S$220). ! Source: StockX Right now, on StockX, it sells for various prices depending on the size of the shoes. ! Source: StockX Heck, it's even got its own ticker (NK-AM197SWNA). And you can even look at the history of its sale price. ! Source: StockX Not too different from looking at the stock prices and charts of CapitaLand Limited (SGX: C31) huh? If you're looking at a pair of size 9s (the most common foot size, so they're usually the most expensive size), they're going for US$1,450 (S$1,993). That's an ROI of slightly more than 800% over a span of 2 years. Some other sneakers such as the Yeezy line (a collaboration between Kanye West and adidas) and the Off White series (a collaboration between designer Virgil Abloh and Nike) will go for even more. And these are the more contemporary examples. What if you could own a piece of history through sneakers? That's right. In fact, Christie's (a British auction house which offers premier auctions and privates sales of fine art, antiques, watches, and more) recently put up an Original Air auction which features 11 of the rarest Air Jordan sneakers in existence — consisting of Michael Jordan's game-worn and player exclusive sneakers. The crown jewel of the auction? This pair of Air Jordan 1 high-top sneakers, which Michael Jordan wore during an exhibition game in Italy, back in 1985. ! Source: Christie's During that historic game, his Airness took off for a dunk and the force of his slam shattered the backboard. You can even see a shard of the backboard embedded in the sole of the left shoe. ! Source: Christie's That's an invaluable piece of memorabilia for a serious Michael Jordan fan. And literally a piece of sporting history which you can own... for a price, of course. The starting bid for these kicks? An eye-watering US$500,000 (S$687,920) . With the estimated value pegged at between US$650,000 to US$850,000 (S$894,296 to S$1,169,464)! Basically, what this proves is that the secondary sneaker market has taken sneaker collecting and reselling, and elevated it to a whole new level. So if you can get your hands on the right shoes and connect with the right buyer, you might just become very rich... Might. Is There A Sneaker Bubble In The Horizon? This worldwide obsession with sneakers is currently fuelled by sneakers made by everyone from luxury high-fashion brands to general releases by the likes of adidas, Nike, Puma, Reebok, Under Armour, and more. With so many brands and companies trying to cash in on the trend, reselling sneakers might not necessarily be the road to riches for young entrepreneurs eyeing an easy buck. Again, let's look at the Yeezy line of sneakers. Early iterations were released in limited numbers and have become sought-after collector items. This is the Yeezy Boost 350 Turtle Dove , the first shoe which Kanye West collaborated with adidas. ! Source: StockX The asking price? US$1,999 (S$2,750) when the original retail price was US$200 (S$275). That's a 899.5% ROI . And if you looked at the historical prices since 2016, it's even peaked at US$2,463 (S$3,388) and have never gone below the US$1,000 mark. Now, Kanye West is still putting out sneakers with adidas, so let's look at something a little more recent like the Yeezy Boost 350 V2 . You can see that it sells for about US$260 ($358) on average. ! Source: StockX While the retail is US$220 (S$303). Not as good as the first iteration, but if you can get one at retail and flip it, you'll still walk away with about S$50. The difference? The first iteration of Kanye's sneakers were way more limited. The more recent releases, while still hard to get, are still way easier to get since adidas has released it with more regularity and in a variety of different colourways. The point I'm getting at, is this. The way that the sneaker reselling market works right now for a lot of sneakers is kinda like a "pass the hot potato" situation. Everybody is buying and flipping sneakers, and each time it changes hands, the reseller will put a premium on it to make it worth his or her while. The problem with doing this is that over time, this might seem like an eventual "market correction" is in the offing. I mean, at the end of the day, sneakers are part of fashion. And once people get bored with it, they'll move on to the next big thing, right? As an investor, you wouldn't want to be the last guy stuck with a stash of sneakers which have gone out of style and have depreciated almost overnight (aka what sneakerheads call, taking an L). So, if you wish to invest in sneakers, you'll need to be in touch with the current AND upcoming trends in the sneaker world... You need to know that the Yeezy Boost 350 V2's are good for flipping quickly to make a quick buck. And that you'll actually want to be collecting the Yeezy Boost 350 Turtle Dove or the original game-worn Air Jordan 1 because these can be likened to 'walkable art' and will hold their value for a much longer time. There's also the whole thing about keeping and maintaining sneakers, but that's a whole other story for another time. If you don't have a passion or love for sneakers (or the history behind it), you're probably better off looking at other types of assets.
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Savings Accounts

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Savings

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Family

I've been working full time for about 3 years, part time since my poly and uni days, started to do FD and built up my savings quite significantly by being frugal. Now my family member has some debt and needs money. Any advice?
I think first and foremost, good to sit down and discuss it with this family member. Basically, it is to have a common understanding that this is your money that you're talking about, and the gravity of returning the sum. If he/she understands it, over time there may be lapses. So if you decide to lend money to the person, be prepared that you may not get back whatever is lent, should you decide to preserve this family relationship. However, if you feel this person's character is questionable (i.e. does not respect the relationship) but still want to ensure you get back your money after lending, I'd suggest to get free legal advice and maybe see if it's reasonable to draft a legal document to enforce repayments, as well as understand what will happen in terms of cost and proceedings, if this borrower doesn't repay. The person may think twice of borrowing from you, if he/she needs to sign a legal document, because the issue now has more weight to it and it is a legal one at that. If he/she decides to proceed, it will give you a piece of mind. https://www.lawsocprobono.org/pages/community-legal-clinic.aspx Do not let anyone treat you in a way you do not want to be treated, not even family.
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Lifestyle

Personal Finance 101

Investments

Savings

Why are majority of young adults are still not exposed to financial literacy?
Rave Ong Ci De
Rave Ong Ci De
Level 6. Master
Answered 2w ago
There are a few reasons, mainly because of 1) social media. In a hyper connected era, we simply cannot avoid advertisements of any kind, whether it is direct, e.g. Followed certain influencers, YouTube ads, or indirect, e.g. Friend's recent staycation. Getting constantly bombarded, while not being actively thinking about it can cause a subconscious effort to spend more. 2) Simply don't have resourcefulness. For those living paycheck to paycheck, and is really poor, ie can only afford to spend on necessities, dependant on grants, they only focus on survival, and hope the kids get a better life, this group I can't fault them. For those that are not under this category, they may not be actively seeking out personal finance, due to laziness, information overload, not enough time/money, too paranoid/skeptic, too proud. 3) Different priorities. Depends on how young the adults you are referring to. In the 20s, people are getting rushed to complete degree, followed by marriage. Where got time to think about personal finance? If any, the goal of planning during this period is to save up for wedding/house, which is relatively short to mid term. After that, it's the mortgage (and possibly baby) to take care off, which simply takes out whatever remaining resourcefulness they have. Young adults may eventually settled for the stable rat race life (by working hard in their jobs for that increment/promotion) because who would want to choose uncertainty while having commitments? 4) Possibly the most damning one of all. Crab culture, as mentioned by The Woke Salaryman, combined with an echo chamber. See who they hang out with, and do they talk about such hard topics. It's easy to say, hey that guy did it. But when the guy talks about what he sacrificed to get there, these people turned off, because they are comfortable with where they are and are either afraid or unwilling to change, without seeing if there's any way to adapt/modify the lessons learnt. And what do people usually do after learning about such things? They tell their friends, who have no context of the situation. What does the friend do? The friends, whether out of genuine concern or otherwise, shoot the idea down. (E.g. 100k by 30? 1M65? Mai siao lah translation: don't be crazy/lunatic) having received this kind of feedback, it further reinforce the belief for this group of people that financial literacy is not for them, or that it's a scam.
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