In this generation, where the spotlight is on luxuries and lavish lifestyles human urges are tested to its limits. It is getting harder and harder for people to actually maintain a financially-stable life. Whether it is the need for the latest brand new phone now marketed worldwide, or the craving for that luscious $5 cup of coffee, everyone seems to be racing to become hip. This is true most especially for people who are working or are starting their careers because they become exposed to this relatively new atmosphere and culture of impulsive spending since most people reason that they’re earning anyways.

This is a big no-no for anyone who wants to be financially-stable.

A more alarming fact is that people often disregard proper financial management in their lives, causing monetary disasters evident in the many cases of debt, unpaid and growing interest in bank loans, and the rampant growth of bankruptcy. The experience can be quite excruciating, given the implications of such financial problems, not to mention the reality of economic instability and decline.

Financial advising and management can draw the fine line between an impending catastrophe and smooth sailing.

When working, it is important that people grow a better understanding of financial management to better prepare themselves for the future. Here are the steps on how to experience a financially smooth sail across the raging waters of life:


The most common way to go about being financially confident is by saving. As a child, it is rewarding when a person actually fills his piggy bank to open it for Christmas to buy his desired toy. Come to think of it, this is the same rewarding feeling a person can have if he decides to save.

saving up!

Saving is an important facet in everyone’s financial status. When money problems arise or business may not be going as planned, one’s savings becomes the saving grace in times of inevitable peril. Nothing beats having an emergency fund or rainy day stash to expend when one is sick and needs finances for medical attention, or when the family breadwinner has been incapacitated, or when everything seems on a downward spiral.

How does one go about saving? Any good saver first establishes where to put his or her money. This can be manifested with opening bank accounts, preferably a savings account that requires minimal maintaining balance (at first), and could be later on converted to a high-yielding account. A traditional coin bank is also a viable option, considering the fact that the money saved in this way is liquid, ready to be used as needed.

The fact is that each financially-stable person knows that even a single penny counts.

A is Always Evaluating Expenses

The simplest yet most profound lesson any professional financial adviser can give is that an individual should not spend money he or she doesn’t have.

considering a car

As an employee living in the trend-dependent, hip lifestyle of this generation, the inevitable thing to happen is for a person to ride the mainstream waves. This can ultimately have people running off to swipe their credit cards left and right anytime and anywhere they like. There is nothing wrong about wanting and having the accessories, the luxury gadgets, and the expensive clothing from time to time. However, what matters is how a person programs his or her mind on spending, or how he or she evaluates the significance of such purchase.

Ironically, the coined term ‘Shoppaholic’ is socially-accepted nowadays. It is a word that describes an impulsive buyer who may or may not care about his or her credit balance. This is something that people in the working bracket should be avoiding.

To break the curse of being an impulsive buyer, one should always try to evaluate the importance of every purchase. Looking it over and over to process if it really is essential is important because each and every purchase entails financial repercussions that may still linger long after the deal has been done.

I is Invest Early

Investing is integral for people who are aware of the financial wonders it brings. Investing early is much more preferred since money requires time to grow. So where does one invest?

Banking is the most commonly used approach for saving money, and is in fact a form of investing as well. Over time, money saved in a bank account can accumulate interest. The amount of interest can be noteworthy for people who put a lot of money in their account. However, for those who are only at the beginning of their careers, it is harder to get a significant amount of interest. This is because most banks only part not greater than 5% to the savings account. Naturally for lower money deposited, lower interest is accrued.

stacking change

An alternative method to actually save wisely is by investing the money in the stock market.

Various firms and companies cater to use a deposited amount of money in the stocks market. The amount is used as the financial institution’s principal in stocks exchange. The mutual fund then turns in an interest at the end of the year that is much higher than that of the banks. It is a brilliant alternative to save up the money.

On another note, anyone can actually play at the stock market personally by investing at the stocks companies. A private individual can buy or sell his stocks online, giving him a dynamic digital observation deck on the trading floor and allowing him to track the current state of his money. Ultimately, all the money saved can be used for other ventures such as setting up a new business and other professional engagements.

L is for Life Insurance

Being able to get an individual insured is one of the best steps to take when it comes to setting up a stable financial foundation. More so, it is smarter if a person be insured at a young age.

Getting an insurance policy, which entitles a person financial protection or reimbursement against premature losses, is imperative for money-smart individuals. This is because the insurance protects him from the risks of financial losses, damages or liability for damage caused by a third party. Insurance companies can vary in their offerings, but the most significantly popular ones involve health and protection.

Having a health insurance can benefit a person in periods when professional medical care is necessary. In a time when professional healthcare can be very costly, it would be a gift to be able to save one’s self by his hard-earned money.

Health and protection is actually encompassed within life insurances. These life insurances allow individuals to get what they deserve during the span of their lifetime. Leading life insurance companies like American General (AIG) and up and coming insurance companies provides people a variety of choices in their life plans. This is integral in every young adult wanting to be financially stable in the future.

life insurance

Furthermore, life insurances deliver various benefits for people availing them. Not only does it inculcate the values of being thrifty, it has been proven to be a safe and profitable long-term investment which ensures returns in the long-run.

Similarly enticing is the fact that insurances act as risk covers, which allows people to live comfortably even amidst the uncertainties of life. Growth through dividends is also a major hook for life insurances because traditional policies offer an opportunity to participate in the economic growth without taking the investment risk. The investment income is distributed among the policyholders through annual announcement of dividends/bonuses.

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How NEOFECT Created a Smart Glove (Robotic Arm) That Uses Online Gaming for Rehabilitation

Wearable technology keeps evolving. And it is transforming the way we experience the world. Watches, eyeglasses, rings, bracelets and even smart home devices like the thermostat are changing how we consumer information, monitor our health and use home products. Smart technology has a significant role to play in how people will live in the future.

NEOFECT wants to change how to aid rehabilitation and the provision of clinicial real-time patient data. In an interview with  Scott Kim, Neofect’s co-founder and CEO of the US office, he spoke to us about how he started NEOFECT, the company’s success factors and challenges they have faced in their bid to change physical therapy using online gaming.

Brief summary about your startup

Established in 2010, NEOFECT is a mobile health startup with a vision to deliver an affordable and effective at-home system to aid neuro patients with central nervous system disorders such as a stroke.

Its first product, RAPAEL Smart Glove, combines a wearable device, virtual reality and gamification for rehab exercise, while its software analyzes the data from built-in sensors and provides training tasks based on the patient’s activity level.

The device has been successfully employed by a number of major hospitals in South Korea since December of 2014, and approved for use in the US and Europe. NEOFECT has offices in S. Korea, San Francisco, and Poland.

Why and how it was started

The President of NEOFECT, Ho-Young Ban, experienced first-hand the difficulties faced by stroke patients and their families when his father and two uncles fell victims of stroke.

Although his uncles were fortunate to survive, they had to turn down the rehab therapy because of the costs involved. So, when his friend Young Choi came up with an idea of Rapael, Ban could not resist.

Soon after, their classmate from the University of Virginia’s Darden MBA program Scott Kim joined the team to launch the US operations.

Kim was born with spinal bifida and went through a surgery and a long rehabilitation process, so he immediately recognized the opportunity and became a co-founder and the CEO of the Neofect’s US office.

What has been the biggest success factors

Personal motivation of the founders combined with the latest, most advanced smart technologies have become the major engines behind the company’s success.

– Gamification, which motivates a patient throughout the rehab process. It helps to induce neuroplasticity for hand function of a patient with a brain damage.

Various rehab games are updated monthly and each game targets specific movements such as squeezing the orange for finger flexion/extension and pouring wine for forearm pronation/supination, for example.

– Artificial Intelligence: the software analyzes data from the glove’s sensors and provides training tasks based on the patient’s activity level. The algorithm is designed to enhance learning multiple functions by offering an optimal task at a proper level of difficulty.

– Wearable Device: RAPAEL Smart Glove is a wearable bio-feedback training gadget. Lightweight and designed to fit different hand sizes, it uses the Bluetooth technology to collect the patient’s data.

What are the biggest challenges you have faced launching and running the company?

The biggest challenge was the product’s concept itself. Many people believed that Rapael could be a threat to the therapists. Fortunately, after we launched the program in several hospitals, we’ve been able to prove that our device is designed with the doctors’ and patient’s needs in mind and helps them make the rehabilitation process more efficient.

Which do you think is most important: the right market, the right product, or the right team?

This sounds like a cliché, but the right team is easily the answer to me. With the right people, you can make necessary adjustments based on new information to make sure there is a product-market fit.

My previous job was to lead a team to make mobile apps – without any exception, all great apps loved by users were made by great teams.

Final words for those chasing the startup dream

Never underestimate the importance of execution. Many people waste their time just to validate what they think or others think, or even just to finish the conceptualization.

However, you should “fail fast” in order concentrate your efforts on building a product which has a market demand, and of course, to save time and money as well.

Plus, you should fail while you are small rather than big, if you’re meant to face it. The earlier you do the reality check, the faster you can reach your goal, although it might cost you a couple of failures at the beginning.

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