https://www.scmp.com/rss/501980/feed The latest articles on money and how to save, including budgeting, banking, finance, buying a home, saving and investing. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Ralph Jennings Ralph Jennings China will extend its value-added tax refund policy for inbound tourists to a series of new locations from July 1, including the northern coastal city of Dalian and the central province of Hubei. It is just the latest in a series of moves by Beijing to make it easier for tourists to get tax refunds on retail purchases made during their trips. Other recent changes include allowing tourists to claim refunds at stores as well as border crossings. The new policies are designed to stimulate the... https://www.scmp.com/economy/china-economy/article/3316119/how-can-you-claim-tax-refunds-tourist-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3316119/how-can-you-claim-tax-refunds-tourist-china?utm_source=rss_feed Mon, 30 Jun 2025 00:00:13 +0000 Hong Kong’s securities watchdog on Monday introduced tougher regulations on investment-linked assurance schemes (ILAS) in a bid to enhance transparency and protect investors following a review of these products. The Securities and Futures Commission’s new guidelines require insurance companies to provide greater transparency on the fee structure and design of these products. The companies have also been told to stop charging consumers excessively high fees and surrender charges. The Hong Kong... https://www.scmp.com/business/banking-finance/article/3154479/sfc-tightens-regulation-investment-linked-insurance?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3154479/sfc-tightens-regulation-investment-linked-insurance?utm_source=rss_feed Mon, 01 Nov 2021 11:19:08 +0000 Hong Kong’s pension regulator is considering changing rules to allow members of the Mandatory Provident Fund scheme to invest in sovereign bonds, according to a senior executive. Plans are afoot to include sovereign bonds issued by the Chinese government and those of other countries, but the rule changes will explicitly exclude debt issued by city-level municipal governments. Currently, the MPF’s 4.5 million members cannot invest in sovereign bonds as the rules require the bonds to be rated.... https://www.scmp.com/business/banking-finance/article/3152925/mpf-hong-kongs-pension-regulator-mulls-allowing-members?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3152925/mpf-hong-kongs-pension-regulator-mulls-allowing-members?utm_source=rss_feed Tue, 19 Oct 2021 23:30:16 +0000 The Motley Fool, one of the biggest stock investment advice websites in the US, announced it will exit the Hong Kong market, citing an uncertain outlook in the wake of political events such as the national security law and escalating US-China tensions. The company, which provides free and paid content to millions of individual investors worldwide, decided to close its outpost in Hong Kong after two years of operation. It follows its exit from the Singaporean market over regulatory issues in... https://www.scmp.com/business/markets/article/3104549/motley-fool-one-most-popular-stock-investment-advice-websites-us?utm_source=rss_feed https://www.scmp.com/business/markets/article/3104549/motley-fool-one-most-popular-stock-investment-advice-websites-us?utm_source=rss_feed Wed, 07 Oct 2020 12:00:16 +0000 The coronavirus pandemic has the stock market teetering. As government shutdowns occur across the globe to prevent the coronavirus from spreading, countries are being forced to choose between the economy and health – and several Wall Street economists have predicted that the US will fall into a recession. It can be scary news for everyone, especially those who have taken on an alternative lifestyle. Consider early retirees; the “Fire” (financial independence, retire early) movement has grown in... https://www.scmp.com/magazines/style/celebrity/article/3078306/how-7-self-made-millionaires-who-retired-their-30s-are?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3078306/how-7-self-made-millionaires-who-retired-their-30s-are?utm_source=rss_feed Sat, 04 Apr 2020 23:00:13 +0000 The US$2 trillion hedge-fund industry is facing a triple whammy of margin calls, redemptions and whipsaw prices in markets, as it battles to prove its worth in a financial crisis. Investors pulled US$1.7 billion out of the asset class in the first two months of the year, according to database provider Eurekahedge. If that was not enough, governments are increasingly banning short selling, which drastically limits hedge funds’ ability to profit from falling markets. “March will be a true test of... https://www.scmp.com/business/banking-finance/article/3077200/hero-or-zero-hedge-funds-post-wildly-different-results?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3077200/hero-or-zero-hedge-funds-post-wildly-different-results?utm_source=rss_feed Fri, 27 Mar 2020 04:00:25 +0000 If you need some advice on managing your money, and ensuring a financially secure future, a financial planner can offer objective money advice. But you don’t have to wait until you’re in a full-time job to get good at managing your wealth – or lack thereof. Developing good habits in your late teens and early 20s will give you the skills to protect your assets later in life. Here are five top tips from certified financial planners on how to make the most of your money, and get on the right track... https://www.scmp.com/better-life/money/article/3045174/5-financial-planning-tips-professionals?utm_source=rss_feed https://www.scmp.com/better-life/money/article/3045174/5-financial-planning-tips-professionals?utm_source=rss_feed Thu, 09 Jan 2020 00:00:09 +0000 If your new year’s resolutions for 2020 involve eating better, one of the best ways to keep it is to start meal-prepping. It will free up so much time, plus if you bring your spoils for lunch, save you a bunch of money. But how do you get started? If you’ve never done it before, meal-prepping can feel overwhelming. But it’s not, really. Here’s everything you need to know to succeed. What is meal prep, and why should I try it? Meal prep is exactly what it sounds like: prepping your meals (or meal... https://www.scmp.com/better-life/well-being/article/3044548/beginners-guide-meal-prep?utm_source=rss_feed https://www.scmp.com/better-life/well-being/article/3044548/beginners-guide-meal-prep?utm_source=rss_feed Sun, 05 Jan 2020 01:00:21 +0000 Tis the season, and all that, but Christmas can be an expensive time of year if you're a student, or only recently started working. If you’re low on funds but still want to give your loved ones something to show them you care, here are five fantastic free gifts that are sure to put a smile on their face. Christmas time capsule  Time capsules are usually filled with present-day items, such as photos, newspapers, and letters, then buried, with instructions on when they should be opened years... https://www.scmp.com/better-life/money/article/3028190/5-ideas-christmas-gifts-ideas-show-how-much-you-care-and-are-free?utm_source=rss_feed https://www.scmp.com/better-life/money/article/3028190/5-ideas-christmas-gifts-ideas-show-how-much-you-care-and-are-free?utm_source=rss_feed Sat, 07 Dec 2019 01:00:14 +0000 Not every child has an imaginary friend, spent every waking moment on their bike, or established complex back-stories for their stuffed animals. I was one of those kids who liked thinking about ways to make money. While others daydreamed about flying to the moon and being superheroes in alternate universes, I played “store” with my cousins. At the risk of sounding boring, all I really wanted was a job so I could have my own money. I looked forward to school fundraisers, and worked hard at... https://www.scmp.com/better-life/money/article/3039565/5-business-lessons-i-learned-selling-candy-kid-are-still-useful?utm_source=rss_feed https://www.scmp.com/better-life/money/article/3039565/5-business-lessons-i-learned-selling-candy-kid-are-still-useful?utm_source=rss_feed Mon, 02 Dec 2019 00:00:13 +0000 Aggressively limiting your spending is kind of like dieting – at some point, you’re going to overindulge and blow all the progress you made. Instead of saying no to every single “indulgence”, a financial counsellor says it’s better to say yes once in a while and let yourself enjoy your money. Don’t toss your budget, though – it’s still important to track your money, save, and spend within your limits. Consider giving yourself a monthly budget for “fun money” so you don’t feel overly... https://www.scmp.com/better-life/money/article/3033205/best-way-save-money-set-spending-limits-allowing-occasional?utm_source=rss_feed https://www.scmp.com/better-life/money/article/3033205/best-way-save-money-set-spending-limits-allowing-occasional?utm_source=rss_feed Thu, 17 Oct 2019 00:00:13 +0000 The 411: cryptocurrencies are a kind of digital money. So often, investing and finance is seen as being the realm of experienced Wall Street veterans. But when it comes to this newer form of finance, younger people are leading the charge. We spoke to 17-year-old former cryptocurrency investor Patrick Cho, and Maxine Ryan, the co-founder of money transfer platform Bitspark, to find out why young people are so hooked on the idea of digital currencies. Patrick first broke into the cryptocurrency... https://www.scmp.com/better-life/money/article/3027327/beginners-guide-cryptocurrency-bitcoin-and-blockchain-and-how-you?utm_source=rss_feed https://www.scmp.com/better-life/money/article/3027327/beginners-guide-cryptocurrency-bitcoin-and-blockchain-and-how-you?utm_source=rss_feed Mon, 30 Sep 2019 02:56:40 +0000 Everywhere you look, you're being told, directly or subliminally, to buy things: the latest Yeezys, the perfect lip liner. Caving in to the urge to splurge can not only kick us in the budget but is also bad for the planet, as we add to the mountains of waste in the world. Resistance is not futile. Here's how to go about it: Identify what you already have The first thing to do is look at what you already own. Take the time to organise your belongings into categories (i.e. put all your jeans, all... https://www.scmp.com/better-life/how/article/3027355/5-tips-help-you-shop-less-resist-buying-things-you-dont-need-and?utm_source=rss_feed https://www.scmp.com/better-life/how/article/3027355/5-tips-help-you-shop-less-resist-buying-things-you-dont-need-and?utm_source=rss_feed Mon, 30 Sep 2019 02:23:48 +0000 There are many benefits to becoming an independent adult, but suddenly being solely responsible for your money can be overwhelming. If you're not careful, and don't keep track of your spending habits, it’s very easy to get carried away. To manage your money and avoid being broke, we've got seven simple tips. 1. Put it away for a rainy day Start by putting a portion of your money aside as savings. It doesn’t have to be much; even five or 10 per cent each month will add up to a nice figure by the... https://www.scmp.com/better-life/money/article/3027321/7-money-management-tips-ensure-youll-never-be-broke?utm_source=rss_feed https://www.scmp.com/better-life/money/article/3027321/7-money-management-tips-ensure-youll-never-be-broke?utm_source=rss_feed Mon, 30 Sep 2019 02:22:25 +0000 You probably didn't learn a lot of financial management skills in school, and that's okay. You didn't need to know then how to shop for a mortgage, so it would have been a bit pointless. Financial rules and regulations change all the time too. But there are some internal qualities you can hone to get to grips with your financial sitch: Skepticism Think critically about the advertising, offers and advice that bombard them you every day. Look beyond surfaces to determine what’s really being sold... https://www.scmp.com/better-life/money/article/3027324/you-need-learn-these-four-essential-financial-management-skills?utm_source=rss_feed https://www.scmp.com/better-life/money/article/3027324/you-need-learn-these-four-essential-financial-management-skills?utm_source=rss_feed Mon, 30 Sep 2019 02:22:21 +0000 Just got your first bonus? Congrats! You've worked hard for it. Being flush with cash feels great. Now what? Well, first, do treat yourself a bit. Those bills are just some high production value paper if you do not spend them. But don’t blow all of it away; future-you will be thankful for the money you save and invest today. You may have heard about "interest rates" in the news. Interest is what banks pay you for depositing your money, which they then lend to other people for a higher interest... https://www.scmp.com/better-life/money/article/3027326/how-invest-stock-market-guide-beginners-little-cash-spare?utm_source=rss_feed https://www.scmp.com/better-life/money/article/3027326/how-invest-stock-market-guide-beginners-little-cash-spare?utm_source=rss_feed Mon, 30 Sep 2019 02:17:57 +0000