Anna Agoncillo, Author at MoneyDigest.sg

How To Enjoy A Thrifty Relocation

Whether you are upgrading to a newlywed nest or downgrading to a cheaper work space, you are starting a fresh chapter in your life. You are leaving the past behind and looking forward to a brighter future ahead. Simply, this transition is exciting! However, I cannot deny the fact that moving day is stressful. This is why it is important that you employ cost efficient strategies to make your life easier.

Begin by devising a relocation plan. Invest a dollar or less in a handy notebook where you can visualize a timeline that leads up to your moving day. For instance, you may start labeling the boxes by week two. Organizing everything is important to prevent spending money purely for convenience.

The next thing that you must focus your energy on is packing the boxes by yourself. You may ask a little help from your kindhearted friends and family if you want. The bottom line is that this strategy saves a decent amount of cash. While packing your stuff, do not forget to label each box.

Let us be honest! There is nothing worse than the hassle of scavenging through a pile of mystery boxes. Sometimes, people would rather purchase new things instead of wasting time in searching for two or three items that they really need. Avoid unnecessary or impulsive buys by marking each box with a permanent marker and writing down what section of the flat it belongs to. Leave your valuables inside specific boxes that you can keep a close eye on. You may even go further categorizing each item in your notebook.

Image Credits: Book Glutton via Flickr Creative Commons

In the process of carefully putting everything in place, you will realize that there are some old investments that you do not mind leaving behind. These said investments are the items that you do not want to bring in your current residence. As long as these items are in mint condition, you can sell them on online marketplaces such as Carousell and Gumtree Singapore. Scam or spam messages are bound to flood you if you display your details in the open. So, set up an independent account just for this. Take down said account once you are finished moving. Selling your old stuff helps you to save money by shipping less and to earn more money on the side.

In the last couple of weeks before your moving day, you must narrow down your options to a single moving service. Make it a habit to get written or documented quotations from different moving services. I am not referring to the nuggets spoken by famous personalities. Instead, quotations refer to the prices offered by the companies. Show these written or documented quotations to the next company to persuade them into matching or lowering down the prices of their predecessors.

I hope that these tips can help you to enjoy a fuss-free moving day. If you can think of other ways to relocate in an affordable manner based on your personal experience, comment below and share your story. Your views are greatly appreciated! 🙂

Sources: 1, 2, & 3

Practical Ways To Stand Out As An Exceptional Employee

There is more to an exceptional employee than mere attention to detail and laser focus!

1. SOLVE PROBLEMS

You are happily employed at a small-scale advertising firm along with 8 employees. Your boss decided to gather all of you to discuss about the reinvention of your website. He asked your opinions about the potential problems that can occur with this shift. You raised a couple of issues including the lack of stock images. You immediately suggested to organize a cost-efficient photoshoot. Your boss was impressed!

As you can see, there is a fine line between highlighting and complaining about an issue. Pointing out the issue helps to get the attention of the people involved. However, it must not end there. You have to come up with realistic solutions to conquer the problems.

2. BE POSITIVE

In my experience, there is always that one employee who exudes a pessimistic mindset in the workplace. It can lead to lack of motivation and poor work etiquette. Negative thinking may also start to rub off on other employees and reduce the overall productivity. It is important to find ways to handle the pessimistic employees.

Image Credits: pixabay.com

It is impossible to live in a world where conflicts do not exist. Stressful days are bound to occur as you need to meet the deadlines and work on a strict budget. Despite the emergence of these days, it helps to remain positive. A resilient employee is able to stay optimistic about the future and encourage others to share the same mindset even during the most difficult circumstance.

3. TAKE INITIATIVE

On a different scenario, imagine that you are a contributing writer for a large-scale lifestyle website. The boss assigns your daily topics but, you are free to come up with your own ideas. Your interaction with the team made you realize that your boss is passionate about Golf. You decided to do your research about the distinct sport. You wrote an article about it and handed it to your boss on the next day. Furthermore, you included 3 more topics that focused on the current trends in Singapore. Your boss was shocked – in a good way!

Outstanding employees do not wait for the tasks to be assigned. If there is an urgent need, they act upon it appropriately. They are proactive in other areas including communication. Instead of responding to a selected few about a project, they keep the whole team in the loop.

4. ACCEPT CRITICISM

I witnessed a petty office brawl between two supervisors before. They came from divergent departments and each of them had a point. However, the other one was fueled with aggression and took things personally. A mediator had to break the tension between them. Obviously, you must deal with the same situation in a mature manner.

Exceptional employees are able to tolerate conflicts and take constructive criticisms. Instead of displacing the blame to other people, accept the idea that you need to make some changes.

Image Credits: pixabay.com

Committing a mistake is not a mark of a poor employee – failing to adapt is.

Sources: 1, 2, & 3

Plan A Thrifty Vacation To Europe With These 6 Tips

The global economy may be unstable, but your wanderlust heart remains powerful – for a good reason. It is possible to travel in Europe without breaking the bank as long as you have a few smart tricks up your sleeve!

1. PLAN HOW TO REACH EUROPE

It is always a good idea to do prior research before visiting an unknown land. Start your investigative methods by researching the off-peak season of your dream destination. Avoid the months when said destination receives most of its visitors. For instance, most cities in Europe are at its peak from July until the middle of September. Universal public holidays such as Christmas and New Year’s Eve are crowded too.

Consider reaching Europe in October through April. You will not only get cheaper plane seats but you will also find cheaper accommodation. Furthermore, you will meet more locals and less tourists. Get the an authentic European experience as you indulge on the local culture and enjoy the shorter queues.

2. PLAN WHERE YOU WILL STAY

Speaking of accommodation, you can stretch your buck by embracing other options aside from hotels. Hotel prices may drop from August to October, but they are still heftier than apartment rentals and home sharing.

Visit websites such as airbnb.com and homeexchange.com to get a grasp of what I am saying. These websites participate in the sharing economy by connecting like-minded travelers and locals together. They allow you to save a great deal of money and to have an access to extra amenities (e.g., kitchen).

You may also ask your local landlord to give you insider tips and maximize your stay!

3. PLAN HOW TO MOVE AROUND

One of the categories that will take a huge chunk of your travel budget is transportation. There are various ways to explore the beauty of Europe on a tight budget including boarding the train or the bus as well as renting a vehicle. For extensive or long-distance journeys, more people opt for availing the Eurail Passes. These passes are used to travel a single country or across multiple countries. Of course, it is cheaper to travel in short distances through the efficient European rail system.

Alternatively, you may board the public buses. Several buses are aimed at connecting the major European cities. Lastly, you can rent a car and share the price among your peers by taking advantage of the sharing economy.

4. PLAN HOW TO REMAIN CONNECTED

Staying connected no matter where you are in the world is beginning to be a necessity for most of us. However, data roaming fees are ridiculously expensive! Consider visiting the nearest public space or eatery that offers free Wi-Fi. Or, you may rent a pocket Wi-Fi device at Changi Airport.

It is easy to travel anywhere with the Changi Recommends’ pocket Wi-Fi. You simply have to pay a promotional price of S$12 per day. Equip with this, you can regularly update your friends and family back home via FaceTime or Skype. You may also manage your business by checking up on your employees through Whatsapp or Gmail.

Image Credits: changirecommends.com

5. PLAN WHERE TO EAT

Who does not love to eat, especially when it is thrifty? Save more cash on food by either cooking your own meals or dining like the locals.

Staying at the apartment or home rentals will allow you to access a fully functional kitchen. Use it to your advantage by preparing meals for you and your travel buddies. Amp up the adventure by having a lovely picnic at the nearest park. Many groceries have deli sections so invest in those. Or, you may skip the picnic and eat at the department store cafeteria instead. That is what some locals do!

Follow the locals’ lead for cheap eats instead of frequenting the tourist spots that puncture holes in your wallet. Ask around the town or read this helpful article.

6. PLAN HOW TO RETRIEVE CASH

For fuss-free retrieval of cash (European currency) in the quickest way possible, you may use the set of ATM scattered around Europe. All you need to do is to activate your card’s magnetic stripe. For instance, you can ask for the help of a bank personnel to help you enable the overseas access of your UOB debit card. It only takes a few minutes!

The only drawback with this method is that you will have to minimize your transaction fees by making larger and fewer withdrawals. In my experience, UOB charged me S$5 for every withdrawal in the neighboring Asian countries. It goes without saying that you must keep this advance encashment in a safe place.

Image Credits: pixabay.com

Cutting your travel budget does not necessarily mean that you have to sacrifice the quality of your trip! 🙂

Sources: 1, 2, & 3

4 Must-Read Books On Real Estate Investing

Books will always serve as a clever investment. Books will offer you the chance to learn new strategies to become a better real estate investor. Furthermore, you can save a substantial amount of money by avoiding the expensive mistakes of other authors.

On that note, here are the must-read publications if you are looking for ways to make the most of your property investments:

1. REAL ESTATE INVESTING FOR DUMMIES BY ERIC TYSON AND ROBERT GRISWOLD

Buy it here.

The preconceive notion of purchasing a “For Dummies” guide is that you are utterly clueless about a certain topic. Do not mind this! This book is a good resource for newbies in the Real Estate scene, especially made for those who have no prior experience. It elaborates difficult concepts in simpler terms.

The authors do not promise an overnight success story. Instead, they offer practical and realistic advice for its readers. These advice will help you conquer the challenges and take advantage of the opportunities ahead.

2. LANDLORD ON AUTOPILOT BY MIKE BUTLER

Buy it here.

The rich wisdom of this book grew from the author’s experiences after he managed 75 rental properties while he still committed to a full-time job as a police detective. It may seem impossible to juggle the two worlds but, it is doable.

Landlording on AutoPilot features useful information on dealing with the dynamics between the tenants and the landlord. It can dramatically improve your rental business and its surrounding relationships. If you are afraid to jump in this field or if you are struggling as a landlord, you must give this book a shot!

3. RICH DAD POOR DAD BY ROBERT KIYOSAKI

Buy it here.

As you dive in the world of investments, feed your mind with the philosophy of the renowned author and lecturer Robert Kiyosaki. I was intrigued about his teachings after I watched the book summary video by Evan Carmichael. See it for yourself.

What you can expect from this book is a lot of motivational talk. It is one of the library staples among investors because it contains a massive amount of thought-provoking content. He created two unique perspectives about money that emerged from two of his fathers – the rich and the poor. While the poor dad will tell you to work for your money, the rich dad will tell you to let the money work for you. The author did a great job in encapsulating the what I had been feeling for a long time.

4. THE ULTIMATE GUIDE TO REAL ESTATE INVESTMENT IN SINGAPORE BY ISMAIL GAFOOR

Buy it here.

When it comes to the big players in the Singapore real estate industry, Ismail Gafoor leads the wolf-pack. This book is the culmination of his passion and hardwork. Let us begin with his inspiring life story.

Mr. Gafoor and his family struggled with money when he was young. At the prime age of 7, he was tasked to deliver newspapers with his dad. This means that he was constantly late for school. As a young adult, he began a career with the Singapore Armed Forces. His cumulative salary led to his brave decision to buy his first property at Normanton Park. Because he saw the potential of real estate investments as a decade passed, he decided to open his own property agency with his wife. Nowadays, we know this leading agency by the name of PropNex Pte Ltd.

Image Credits: pixabay.com

Enclosed in this book are answers to various questions that investors ask. It is hard to go wrong with this book knowing that its contents came straight from the workings of a top real estate pioneer.

Sources: 1 & 2

How To Deal With Relationship Feuds About Money

The moral values that we learned taught us that relationships are far more important than money. Conflict is bound to happen when people put more weight on material items over interpersonal relationships or when they see money as a measure of the relationship’s worth.

Deal with the monetary feuds to save your various relationships.

1. PARTNER’S PERSPECTIVES

Differences in each others perspectives is inevitable when two people come together. Although you love each other dearly, it is rare to find couples who always see eye to eye. This is why it is important to start understanding each other’s views about money. Explicitly discuss about your beliefs on financial issues and spending habits. For instance, a partner who is a hardcore saver may view money as an important currency that shall not be wasted.

Learn to put yourself in your partner’s situation by recognizing his or her financial strengths. Let us put this in perspective by imagining that two people are buying a flat screen television. Half of this relationship is a spender while the other half is a saver. They can compromise by combining the spender’s ability to commit to a new purchase with the saver’s ability to get a good deal!

2. FIGHTING FOR INHERITANCE

The authors of the informative book entitled “The Family War: Winning the Inheritance” vividly explained what it is like to be tangled in estate disputes. Envision your own family tree with interconnected branches that share a single trunk. After it has been shaken by a strong force (i.e., war over inheritance), one or more of its branches are broken down. The sad part is that they may never grow back.

As you can see, money and death can do strange things to a close-knit family. Lawyers find this scenario as one of the most challenging cases to handle. This is why some of them advocate the drafting of a will and planning for estate distribution while the client is still alive. You must also appoint a trusted person to make medical decisions should you become incapacitated.

3. MARITAL WOES

Financial issues is among the top reasons why Singaporean marriages fight and eventually part. A committed couple who suffers from serious monetary problems will usually face loads of tension and stress, which often translates to heated quarrels.

Prevent a fueled fight by fully disclosing your financial circumstance to your significant other. This is uncomfortable and awkward at first but, you have to try. Tell your partner about your outstanding debts, financial obligations, income sources, and other assets. This will make you empathize with each other more. From time to time, do not forget to check if your financial goals are still in sync.

4. BORROWER VS. LENDER

To deal with the disputes over the money that you loaned, you can show your written agreement and other supporting documents.

You may have dodged the constant knocking of the bank by loaning from a friend or a family member but, you must still treat it as a business matter. Putting the terms of the loan in a handwritten format protects both parties as well as your relationship. After all, borrowing a substantial amount of money is not the same as borrowing a vehicle!

Get everything in writing if you are borrowing a large sum of money or if the lender is strict when it comes to full repayment. The agreement is called a promissory note. Have the promissory note signed by both parties and and a lawyer (if possible). This will ensure that pursuit of legal actions when necessary.

5. GRANDPARENT’S FAVORITE

If your mature child and his or her spouse are having a hard time drawing a healthy financial conclusion, you may offer to help them out especially for the sake of your grandchildren. As a grandparent, it is acceptable to give out money to your family for a specific purpose. You may also highlight that the money must be used for that purpose. However, it does mean that you are entitled to manage all their financial affairs.

Financial advice should be given only if asked. You do not want to be a “know-it-all” parent who constantly dishes unsolicited advice. Your children are no longer toddlers that you have to guide. Although, you can always make a polite offer.

6. FRIENDLY DISPUTES

No matter how much you disagree with your friend’s unhealthy spending habits, you must take a step back from those negative feelings. Do not immediately burst into anger when you see his or her credit card bills. Blaming your friend for his or her outstanding debt will not help too. It is crucial for you to remove anger and frustration out of the equation.

Break the cycle of constant fighting and help your friend out by discussing the matter maturely. Agree to support each other along the way.

Image Credits: pixabay.com

Do not let your financial woes to get the best of your meaningful relationships!

Sources: 1 & 2

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