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How Much “Ang Bao” Money Shall You Give This Chinese New Year?

The festivity of the Chinese New Year is about a month away. Abundant food, family reunions, and little red packets called “Ang Bao” will grace Singapore once again.

These red packets are usually given during social gatherings such as weddings or the holidays. Its color embodies “good luck” that is supposed to ward off the evil spirits.

Married couples usually give these red packets to single people (e.g. children or work colleagues). Its history is rooted from the Chinese belief that you achieve the “adult status” once you get hitched. So, the newfound status comes with the privilege to distribute “Ang Baos” to those who still remain single or are younger.

Image Credits: Paul via Flickr

Since Singapore is a mixture of different cultures, we as a nation have created practices centering “Ang Bao” gifting. It is not uncommon to have marriages between two different races, leading to traditional practices being modified or ignored. But aside from the Chinese, Vietnamese, Japanese, Filipinos and South Koreans have similar customs.

A simple survey on TheAsianParent Facebook Page showed that readers usually give out S$2- S$80 to children in 2014. Furthermore, “S$4” was avoided due to its similarity to the word “death” in many dialects.

Ultimately, PerfectWeddings.sg showed that economy and income status affects the money given. During good economy, it was common to receive “Ang Baos” with a minimum of S$6 each for children but economic recession urged its reduction to S$2 each. Since, economic downturn affects the whole country, there was no judgment in the amount you give.

To help you find the right amount to give…here is a concise “Chinese New Year Ang Bao Market Rate 2014” chart by PerfectWeddings.sg :

As you can see, a red packet containing a minimum of S$2-S$20 is common to give for children, while it ranges to about S$8- S$88 for parents. Your in laws will not take it against you if you give them S$88 in the New Year. Lastly, you may give the same amount of money to your friends or colleagues’ children as you did with your own children.

6 Surprisingly Fuel Efficient Cars That Will Save You Thousands of Dollars

Oh how sleek does the Lamborghini Aventador look? Despite its deceiving beauty, the annual fee of fuel will cost you about S$7, 265.

Image Credits: Corentin Foucaut via Flickr

If you are just burning tons of gas in the process, is it really worth to purchase?

Now, fuel efficiency may undermine “beauty” but its purpose will help you save a lot in the long run.

In Singapore Streets

6. Toyota Prius

Masked in Singapore streets are fuel-efficient cars. One of them is the exciting Toyota Prius. It has been one of the first mass-produced hybrid vehicles.

Image Credits: M 93: „Dein Nordrhein-Westfalen“ via Flickr

The annual fuel cost is about S$1, 816.

5. Peugeot 508 RXH Diesel Hybrid4

Peugeot 508 is a large family car launched in 2010. It has a strong engine, a roomy space, and a fuel-economy. Since it runs in Diesel, it will cost you about S$1, 299 for its fuel annually.

4. Mercedes-Benz E-Class E300 BT Hybrid Sedan

If you don’t want to sacrifice beauty over fuel efficiency, then Mercedes-Benz E-Class E300 BT Hybrid Sedan is the car to be! It is equipped with high-tech safety features such as radar cruise control. Surprisingly, its fuel will only cost you about S$1, 300 annually.

In America’s 2015 Car Market

3. Mitsubishi Mirage

This one-ton transportation that comes in candy colors has a maximum fuel-economy rating of 44-mpg highway. Aside from being fuel efficient, it is also loan efficient.

It costs about S$18, 280 to own it in United States.

2. Ford Fiesta

Ford’s smallest sedan is a Diesel saver as it goes to about 45-mpg in the highway. You can choose between two engines: a standard 120-hp four-cylinder or an optional 123-hp turbocharged three-cylinder. Not only is the ride balanced but its braking is good also.

You will need about S$18, 639 to own it in United States.

1. Chevrolet Cruze

If you value comfort and practicality then this car is for you. The Cruze will take you to a maximum of 46 mpg in the highway once Diesel is under its hood.

Image Credits: ChevroletCruze via Flickr

Its Smartphone integration and onboard Wi-Fi features will keep you connected throughout your journey. It costs about S$24, 529 to own it in United States.

4 Money Saving Websites That Work

One of Singapore’s favorite pastime is shopping. Since Chinese New Year is coming up, you may wonder where is the best place to get some cheap deals online.

Wonder no more! There are numerous websites that offer deals and discounts, but some of them are hard to navigate. Be aware of the websites that require subscription because you will receive tempting deals regularly. The good news is that…you can always unsubscribe and still use the site perfectly.

Also, some pop-ups that say “check discount code here before you shop” may not always be as rewarding as it seems. With that in mind, here are 4 Money Saving Websites That Work.

1. GROUPON.SG

Topping our list is the ever-so-famous Groupon. Groupon makes women go gaga over their outrageously discounted luxury goods, bags, watches, beauty products, lifestyle services, and getaway deals. You can conveniently pay through for Debit/ Credit Card, Paypal or American Express.

Image Credits: Groupon via Flickr

2. HOMEEXCHANGE.COM

Save up to 58% on your travel expenses though Home Exchange. It is a popular website where people rent out their own home and find a place to stay while they travel. You will get to choose from about 60,000 members in over 150 countries around the world. With this system, you will get a local feel and get to be toured to places that you will have never visited if you travelled by tour packages.

3. DEAL.COM.SG

Similar to Groupon, Deal.Com.Sg by Ensogo lets you select from a wide variety of food or buffet packages, cheap hotel accommodations, travel packages, and amusement deals (e.g. Universal Studios Singapore). Also, you can conveniently pay through for Debit/ Credit Card, Paypal or American Express.

To ensure customer satisfaction and superior shopping experience, Ensogo handpick their offerings by working with highly reputable merchants and brands.

4. FACEBOOK.COM OR TWITTER.COM

Social networking sites like Facebook and Twitter offer doors to access special deals by letting you follow the companies you wish to buy from. For instance, to get special deals on air fare and gadgets, follow Amazon.com or Virgin America on Twitter.

Follow Money Digest on Facebook to get cheap deals on various companies all over Singapore. Best of all? These methods are free.

Image Credits: Garrett Heath via Flickr

5 Ways to Save Money on Hand Phone Accessories

The cost of your hand phone accessories range from $2 to $100+, but its expense adds up together. Hence, it is paramount to be savvy in purchasing hand phone accessories to save money.

1. USE A SOCK ON IT

Instead of buying a new phone case, try to buy a new pair of toddler socks. The phone fits perfectly inside the sock and it is easy to see in your purse. It not only protects your phone to serve its purpose but it also has a wide range of cute designs to choose from.

2. BUY HAND PHONE ACCESSORIES ONLINE

Do not rely solely on the gadget shops in the malls that sell hand phone gear, also explore good prices in the Internet such as: Amazon, eBay, and Carousell. Online stores have sales and clearance of their last year stocks where you can save money. It is important to shop around, and compare prices before purchasing to get the best deal.

3. PROTECT YOUR CHARGER CABLE WIRE

The cable chargers of Apple products usually break and bend. This urges Apple users to buy another costly cable for the Mac store. The solution is simple, take the spring from your old pen and put it on the cable wire. Or, you may buy plastic cable wire protectors for $1.50 to $2 from Carousell.

Image Credits: Raul Gonzalo via Flickr

4. DO YOU REALLY NEED AN EXTRA BATTERY?

Rethink if you really need an extra battery before buying them. Some smart phones do not have an option of replacing the battery by your own. So, it is wiser to invest on an extra charger for your office or your car.

5. STOCK UP YOUR OLD HAND PHONE ACCESSORIES

Do not toss your old hand phone accessories such as your car charger because phone companies may revert back to their old power cord. Instead, clean your silicone phone case in the dishwasher or sell your stuff online to earn more.

How Much Will It Cost To Live in USA, Singapore, Australia or Italy?

Cost of living is the total expense of maintaining a standard of living in a certain country. This changes over time and is often operationalized in a cost of living index.

In this chart is the comparison of the cost of living of four countries namely: United States of America, Australia, Singapore, and Italy.

Clothing And Shoes Ave. (in SGD)	USA	SG	AUS	ITALY

1 Pair of Jeans (Levis)	54.95	111.92	111.35	129.67
1 Summer Dress in a Chain Store (Zara, H&M, F21, etc.)	47.82	63.24	76.26	53.99
1 Pair of Men Leather Shoes	113.77	136.22	147.41	166.62

Total Clothing:	216.54	311.38	335.02	350.28

Rent Per Month Ave. (in SGD)

Apartment (1 bedroom) in City Centre	1,359.20	3,312.03	1,944.27	928.25
Apartment (1 bedroom) Outside of Centre	1,032.05	2,133.33	1,380.82	709.08
Apartment (3 bedrooms) in City Centre	2,313.77	5,955.30	3,335.58	1,634.16
Apartment (3 bedrooms) Outside of Centre	1,743.47	3,579.49	2,186.44	1,192.56

Total Rent:	6,448.49	14,980.15	8,847.11	4464.05

Ave. Salary After Tax (in SGD)

Monthly Salary	4,103.69	3,875.20	4,732.34	2,439.03

All the data were collated from Numbeo. It is a website that stores the world’s largest database of user contributed information about global living conditions.

Before discussing the variables in the chart, let us first explore a brief introduction of these four countries. United States of America, commonly referred to as U.S., is a federal republic country that is consists of 50 states. According to the International Monetary Fund, U.S. has the world’s largest national economy. It is considered as a developed country.

Australia, or Commonwealth of Australia, consists of the mainland and numerous smaller islands. In 2012, International Monetary Fund ranked Australia as the fifth highest per capita income among the world. It is also considered as a developed country.

Singapore, officially known as Republic of Singapore, is an island country in Southeast Asia. Despite its size, Singapore had the third highest per capita income around the world. It boasts its high regard on education, healthcare, and economic competitiveness.

Lastly, Italy is a parliamentary republic in Southern Europe. Human Development Report highlighted that Italy is a very developed country with its economy being the eighth largest in the world.

In the comparative chart above, Italy was shown to have the highest cost in Clothing and Shoes. Most of the famous chain brands originated from the U.S., which is why the country had the least cost on clothing and shoes. Furthermore, it is the reason why some items are cheaper when you buy it on its online store.

The Average Rent per Month is overwhelmingly dominated by Singapore. Renting a bedroom apartment at the city center will cost you about S$3,312.03 in Singapore. With that amount, a person can already rent two 3-bedroom apartments in Italy’s city center. The higher cost of rent in Singapore is due to the 718.3 km2 total area of land wherein millions of people reside.

Image Credits: Lina Hughes via Flickr

Lastly, in most of the factors, Australia sits strong on the second place. Although rent and clothing may be costly in Australia, the average salary per month is S$4,732.34. It is the highest among the other four countries.

So, if you are moving to a different country and curious about its cost of living, look it up on Numbeo. It has been mentioned in internationally renowned newspapers and magazines such as BBC, Forbes, The Economist, and New York Times among others.

Sources: International Monetary Fund, Numbeo, and Wikipedia

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