Anna Agoncillo, Author at MoneyDigest.sg

7 Financial Resolutions That You Can Fulfill This 2022

For the lack of a better term, the period between 2020 to 2021 was “rubbish”. People all over the world had to deal with the adverse effects of the pandemic. Unexpected economic and social shifts occurred. Nonetheless, most of us are ready to bid farewell to the yesteryears.

While many Singaporeans are committing to eat healthy and to exercise more, here are seven financial resolutions that you can consider for a more prosperous year.

1. BROADEN YOUR FINANCIAL KNOWLEDGE

Books and audiobooks provide opportunities to broaden one’s financial knowledge. You can enter the inner workings of great entrepreneurs and investors by reading though the pages of books such as “The Intelligent Investor” by Benjamin Graham, “The Psychology of Money” by Morgan Housel, “Rich Dad Poor Dad” by Robert Kiyosaki, “Think and Grow Rich” by Napoleon Hill, “Raising Financially Fit Kids” by Joline Godfrey, and “The Richest Man in Babylon” by George S. Clason.

Create an achievable list of all the financial books that you want to finish within the year. Set a realistic goal for the number of pages that you can accomplish each week. Start now!

2. CUT DOWN YOUR WATER CONSUMPTION

Singaporeans do not typically worry about clean and fresh water. However, the global supply of consumable water is getting scarce with each passing year.

Consider reducing your water consumption by turning off the tap while brushing your teeth, using less water while gardening, installing a water-saving shower head, and only washing your clothes when necessary. Minimize your expenses and help save the Earth.

3. COOK MORE MEALS AT HOME

Increase your savings by cooking from scratch. Find recipes online or ask your loved ones for their specialties. Cooking more meals at home can reduce your restaurant or take-out expenses.

Calculate your food savings and consider putting the extra cash to your emergency fund or to pay off your debts.

4. BE PROMPT AT ALL TIMES

Time is a valuable resource. There is a reason why it goes hand in hand with money. As the job market becomes increasingly competitive, most companies have minimum tolerance for employee tardiness. Keep your source of livelihood by always being on time.

You do not need to exhaust your resources or skills to remain prompt. Simply set an appropriate alarm and adhere to your organization’s schedule.

5. UPDATE YOUR BENEFICIARIES

With the uncertainties of the modern world, it is important to revisit your beneficiary designations. Adding a beneficiary to your accounts and policies can help ensure that your assets will go to your desired people. Align your will (i.e., last will and testament) to your accounts and insurance policies.

6. SEARCH YOUR HOME FIRST

Search the contents of your home, before committing to a major purchase. There are many ways to use your resources. You just need to be creative and hands-on!

For instance, you may use your old drawer as your baby’s diaper changing table. You can also spruce up your walls by purchasing Very Peri wallpaper online.

7. MAKE THINGS SIMPLER

All of us are drained because of the massive chaos that recent years have brought. Reduce your worries by cancelling or closing the accounts or cards that you no longer use. Then, set up automatic transfers.

Image Credits: pixabay.com

Some financial institutions allow the employer to automate your salary in your bank account. Patronizing this method will lessen the temptation of immediate spending.

Make A Personal Budget In 6 Easy Steps

A personal budget is a financial summary that tracks your income and expenses for a certain period, which is typically a month. The word “budget” is often associated with limited spending, but a budget does not have to be restrictive to be effective.

Having a personal budget that you can review on a regular basis enables you to prevent overspending. Start with these six simple steps.

#1: GATHER ALL YOUR FINANCIAL STATEMENTS

Get a bird’s-eye view of your financial situation by gathering all your financial statements. Include your bank statements, investment accounts, recent utility bills, credit card statements, receipts from the previous months, loan statements, and other receipts. The more information you can retrieve, the better.

#2: DETERMINE YOUR MONTHLY INCOME

Determine how much you make in a month. If you have a fixed salary, you will find information in your pay slip. If you get paid bi-monthly, you simply need to multiply your pay slip into two.

If you have more than one job or you are self-employed, you must determine your net income differently. Calculate your net income by examining your two most recently filed tax accounts. Add the two figures of your net profit together. Then, divide the total by twenty-four. The definitive answer is your average monthly income.

#3: CREATE A LIST OF YOUR MONTHLY EXPENSES

There are two types of monthly expenses – fixed and variable expenses. Fixed expenses are expenses that you encounter every month such as rent, car payments, and utility bills. While variable expenses change from month to month. Variable expenses include groceries, gifts, and shopping.

Write down a list of all the expenses you expect to have during a month. Do not forget about the childcare, transportation, and entertainment costs.

#4: TOTAL YOUR MONTHLY INCOME AND EXPENSES

Get the total of your monthly income and monthly expenses. If your income is higher than your expenses, you are off to a good start. You will have extra funds that you can put aside for retirement savings or debt repayments.

If your expenses are higher than your income, you need to make some changes. Find out which categories you are overspending on.

#5: EVALUATE YOUR SPENDING HABITS

Add up your total spending per expense category. Which category do you overspend on? You can get the percentages per category to understand how much of your income is going where.

#6: MAKE NECESSARY ADJUSTMENTS

After covering steps one to five, you will be able to highlight the spending areas that you need to eliminate or reduce. For instance, you can cancel your gym membership or lower your handphone’s postpaid plan.

Image Credits: pixabay.com

Amend your budget and align these changes to your financial goals.

Sources: 1 & 2

5 Stay-Home Activity Kits For The Entire Family

While lounging around in the sofa and watching your favorite show can help you pass time, here are six alternative activity kits that you can consider. Order these kits online to add spice to your homebound lives. Whether you want to craft your own jewelry or create your own terrariums, your next do-it-yourself craft is only a couple of clicks away!

#1: CANDLE DIY KIT SET BY SOAP ART SINGAPORE

Have you ever tried making your own candles? Candle making is a delightful activity that you can perform with your friends and loved ones. Go to Soap Art Singapore to check out the Candle DIY Kit Set as well as their online workshops.

Image Credits: soapart.sg

Customize your own candles to ignite your creativity and unleash your inner zen. These candle kits include natural soy wax (150gm), natural essential oil (2ml), 1 choice of color (2ml), 2 wicks (6cm each), 2 glass containers, Candle DIY workshop guide, and an inclusion of local mail delivery fee.

Price: S$32
Location: 183 Jalan Pelikat, #01-70 The Promenade@Pelikat, Singapore 537643
Website: soapart.sg

#2: LEATHER ANIMAL CHARM DIY KIT BY HIDES & THREAD

Strike a balance between luxurious and adorable by making leather animal creatures with the Hides & Thread’s Leather Charm DIY Kit. Start by picking your favorite animal and colored leather. The Saffiano leather comes in four shades namely: black, red, whiskey, and orange. These leather pieces can be used to fashion out an elephant, a hippo, a moose, or a bull.

Children as young as 10 years old can refer to the instructional sheet or the website’s instructional video. Use this scratch and water-resistant leather charm to add bling to your handbag or to add a twist to your TraceTogether token!

Price: S$25
Location: 81 Ubi Ave 4 #06-09, Singapore 408830
Website: hidesandthread.com

#3: CLOSED ORNAMENTAL TERRARIUM DIY KIT BY GREEN CAPSULE

Founded by two plant enthusiasts in 2014, the Green Capsule offers a variety of terrarium kits in Singapore. This terrarium shop aims to provide Singaporeans and its residents with an option of full terrarium customization. For instance, you may purchase the Closed Ornamental Terrarium DIY Kit.

Image Credits: thegreencapsule.com.sg

The kit is inclusive of 1 glass jar, pre-packed soil, pre-packed Lecca, pre-packed pebbles, mini pot of plants (Green and Red Fittonia), pre-packed moss, a stirrer, 1 FREE gift card, 1 FREE figurine, an instructional sheet, and a box carrier. See for yourself!

Price: S$35.00
Location: 107 North Bridge Road, #04-11, Singapore 179105
Website: thegreencapsule.com.sg

#4: FOR THE LOVE KIT BY STUDIO MU/YU

Studio MU/YU got its name from the Chinese characters “木语” and embodies these in their pieces. The For the Love Kit – Valentine includes a pair of earrings and a necklace. It is the perfect gift for your partner who likes to add something special to her jewelry collection.

The For the Love – Valentine Kit consists of Valentine pieces, jewelry findings, pliers, sandpaper, wood oil, wood stain, and upcycled cloth. Watch the tutorial below for your reference.

Price: S$40
Location: 10 Kaki Bukit Avenue 4 #04-61 Singapore, Singapore 415875
Website: muyu.co

#5: TOTE BAG DIY KIT BY MAKE YOUR OWN WORKSHOP CAFE

Whether you want to customize a tote bag by yourself or with the help of a loved one, you can paint it to what your heart desires! Make Your Own Workshop Cafe offers a wide range of DIY kits including the Tote Bag DIY Kit that retails for S$38. It includes a sturdy canvas tote bag that holds most laptops and A4-sized documents.

As a friendly reminder, please avoid machine wash and spot clean only. You can hand wash the tote bag gently if needed and iron it on low heat.

Image Credits: makeyourown.sg

Each Tote Bag DIY Kit consists of the following:

1 canvas tote bag (35cm x 30cm),

1 paper plate palette,

2 sets of acrylic paint in 12 colors,

1 acrylic color chart, and

2 standard soft bristle nylon flat brushes

Price: S$38
Location: Blk 4 Upper Aliunied Lane #01-06, Singapore 360004
Website: makeyourown.sg

Do you know any other DIY kits in Singapore? Please do not hesitate to comment below. Enjoy!

2022’s Pantone Color of the Year is Here — Decorate Your Home with Very Peri

Here are some of the most stylish ways to decorate your home with Very Peri, a never-before-seen shade by Pantone.

The long-awaited announcement of the Pantone Color of the Year declared Very Peri as the color of 2022. Very Peri is a dynamic periwinkle blue hue with a vivifying violet red undertone. It was custom-made by Pantone’s color experts to represent the innovative and optimistic expectations for our future.

The Pantone Color Institute’s Executive Director Leatrice Eiseman said:
“As we move into a world of unprecedented change, the selection of PANTONE 17-3938 Very Peri brings a novel perspective and vision of the trusted and beloved blue color family.”

Describing it as purple is limiting. You see, Very Peri is not just a blend of blue and red but is also the essence of periwinkle.

BEAUTY

How does 2022’s Pantone Color of the Year translate to the beauty industry? The institute predicts a rise in glittery and matte products for the eyes, nails, and hair. This color will invoke futuristic inventiveness and daring imagination. It is a fun way to approach beauty. On that note, here are some of the products that you can explore.

#1: FENTY BEAUTY STUNNA LIP PAINT LONGWEAR FLUID LIP COLOR (UNDEFEATED)

Image Credits: sephora.sg

Price: S$39 at Sephora Singapore

Fenty Beauty’s Stunna Lip Paint Longwear Fluid Lip Color consists of a hyper-intense pigment that is best used to define your lips. The lip paint shade named Undefeated embodies the Very Peri color, which fills your lips using the precision wand. Shake it before using it!

#2: TATCHA LUMINOUS DEWY SKIN MIST

Image Credits: sephora.sg

Price: S$72 at Sephora Singapore

The TATCHA Luminous Dewy Skin Mist is suitable for various skin types such as combination, dry, normal, oily, and sensitive. Simply shake the mist and spritz your face once or twice. Use this mist for concerns such as dryness, dullness, fine lines, and wrinkles.

#3: ANASTASIA BEVERLY HILLS NORVINA EYE SHADOW PALETTE

Image Credits: sephora.sg

Price: S$81.00 at Sephora Singapore

This palette is made with thoughtful ingredients to ensure that it is fragrance-free, paraben-free, and sulphate-free. Revamp your look with these matte and shimmer eye colors that can transition from day to night. Minimal product is needed to enjoy maximum pay-off!

DÉCOR

#4: IKEA FLOTTEBO SOFA-BED COVER

Image Credits: ikea.com/sg

Price: S$200 at IKEA

IKEA Singapore’s FLOTTEBO sofa-bed cover in Vissle Purple radiates the beauty of Very Peri. This durable, spin-dyed cover can be cleaned easily. Simply take it off and machine wash it.

#5: VEELIKE SELF-ADHESIVE MATTE SURFACE FINISH WALLPAPER

Image Credits: lazada.sg

Price: S$6 at LazMall

What better way to decorate your home with Very Peri than by adding pizzazz to your walls? The Veelike self-adhesive matte surface finish wallpaper is a wall sticker decal that is made from premium PVC. Its size is 40cm x 1m per order.

#6: ADVENTURE WORLD FOLDABLE LUNCHBOX

Image Credits: fairprice.com.sg

Price: S$18.50 at FairPrice

Kids and the young at heart can enjoy the Very Peri shade by bringing the Adventure World Foldable Lunchbox to school or in the office. This lunchbox is made from flexible silicon material that won’t break accidentally in your bag. Pop it up for use and flatten it into a portable size after eating. Apart from its portability, it is easy to clean and comes with two compartments and a spork. What’s more? It is microwavable.

Sources: 1, 2, & 3

From Feb 1, More Restrictions for the Unvaccinated will be Implemented

Singapore’s Vaccination-Differentiated Safe Management Measures (VDS) will extend to more events and venues from 1 Feb 2022. The VDS includes all indoor sports facilities and Institutes of Higher Learning (IHLs).

Unvaccinated guests will no longer be allowed to visit serviced apartments, hotels, and hostels for leisure purposes. Thus, only fully vaccinated individuals or people who have a 180-day exemption due to being previously infected with COVID-19 will be permitted to enter these spaces.

Last 14 Dec 2021, the Multi-Ministry Taskforce said that the VDS expansion will be placed to “better protect the vulnerable and at-risk groups in our population, while allowing specific concessions for fully vaccinated individuals to return safely to the workplace”.

VDS MUST PERTAIN TO ALL EVENTS

From February 1, all events must implement the VDS measures – regardless of the event size. This shall include media conferences, work-related events, and funerary memorial events.

The Multi-Ministry Taskforce decided that this change is necessary because “even smaller-sized events can spark transmission that can then spread to wider groups of people, especially in view of the Omicron variant.”

FURTHER DETAILS

The VDS measures will be required at work-related events, media conferences, and funerary memorial events starting 1 Feb 2022. Funerals, wakes, or funeral processions that were held prior to cremation or burial do not fall under the VDS requirements. However, no more than thirty individuals at any time may participate in these activities.

There are other exemptions. Students in IHLs who are completing their full-time NITEC/Higher NITEC, degree, or diploma programs will be exempted from the VDS requirements when entering their respective academic institutions.

WORK ADJUSTMENTS FROM JAN 15

Last 26 Dec 2021, the Ministry of Health announced that unvaccinated workers will no longer be permitted to return to the workplace despite having negative pre-event testing (PET) result. This statement was released to the press:

“Following the review and discussion with tripartite partners, we have decided to remove the PET concession for unvaccinated persons to return to the workplace from 15 Jan, 2022.”

Partially vaccinated workers who received one dose of vaccine will be granted a grace period until January 31 to complete their vaccination and to enter their workplaces.

Image Credits: pixabay.com

These measures apply to foreign workers too. Foreigners who wish to work here on a long-term basis or want to renew their existing employment visas will have to be inoculated against COVID-19. According to the MOH, exemptions will be granted for children below 12 and for the people who are medically ineligible for the shots.

PRECAUTIONS FOR THE OMICRON

“WE HAVE TO LEARN TO LIVE WITH OMICRON AS WE HAVE WITH DELTA,” said Co-chair Health Minister Ong Ye Kung.

These precautionary measures were considered in view of a boost in COVID-19 infections by the Omicron variant. MOH stated that “international evidence indicates that the Omicron variant is likely to be more transmissible but less severe than the Delta variant.”

“We have done whatever we can to prepare ourselves for it; especially in administering boosters to our population and starting vaccinations for our children. We seek the cooperation and understanding of everyone, as we weather through an Omicron wave in the next one to two months,” added by the MOH.

Sources: 1, 2 , 3, & 4

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