How To Budget Your Money Through Tough Times

Let us admit it! One of the biggest challenges that governments are facing right now is how to allocate their budget efficiently in order to fight the COVID-19. While some countries have pledged money to developing testing kits, some have spent money for community disinfecting drones.

The measures that need to be taken in order to stop the spread of the virus such as closing offices and schools or shutting down factories and airlines can lead to some companies going out of business.

Fortunately, Singapore set aside 5.6 billion Singapore dollars in the coming year financial year (April 2020 to March 2021) to help businesses and households tide through the ongoing coronavirus outbreak. This is according to the Minister of Finance, Mr. Heng Swee Keat.

For individuals, this tough situation is what Emergency Funds are for! Budgeting your spending can help you find a balance between spending and saving money throughout this period.

CONTROL YOUR SPENDING

The rise of credit cards and online banking apps paved the way for better shopping experiences. The extent to which we fall trap to these temptations boils down to our willpower. During these times of scarcity, you need to focus on the things you want rather than what you need. It is easier said than done as self-control is like a muscle that gets strained due to overuse.

It is the willpower of those who face repeated difficult financial situations that tends to deplete the most. Hence, it is important to seek the help of someone who cares. Seek professional advise, if necessary.

PLAN YOUR MEALS

One of the easiest ways to control your spending is to plan ahead. Meal planning can help you stay within the budget and control your visits to the grocery. For those who are practicing social distancing and are opting to stay at home, a meal plan is your best-friend!

If you know what you are going to consume for a week or a month and have shopped accordingly, there will be no need for extra store visits that will lead to more spending and more food wastage. Allot a specific portion of your budget for weekly meal plans.

PRIORITIZE YOUR SPENDING

Each of your expenses should be placed in appropriate budget categories such as food, toiletries, and utilities. When faced with a decision to see what gets paid this month and what gets the least portion of the budget, it is important to prioritize. Essentials go up the ladder! These are followed by your creditors and your non-essentials.

You need to accept the situation you are in. Expenses that are core to your survival should be prioritized. The rest can wait.

CUT DOWN YOUR SPENDING

One of the major things you can do to help yourself and your budget during these tough times is to figure out what you are currently spending on and what you can live without. Whether you are cutting down your monthly cable bill or reducing your trips to Starbucks, there are various ways to reduce your expenses. I am referring to little unnecessary expenses that tend to pile up.

It is best to know where your money goes. If you are using a debit card, keep track of the payments. If you are using cash, keep the receipts and review them. Watch out where your money goes and adjust accordingly.

STAY POSITIVE

In times like this, all we can do is to hope for a better future. Staying positive can help lift your mood throughout a bad situation. As bills come in and your debt continues to increase, keeping a positive mindset with a strategic plan can help you.

Image Credits: unsplash.com

Remember that what you are going through is temporary and will not last forever. We can get through the setbacks brought by COVID-19!

Sources: 1 & 2

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Stocks Are Plummeting Due To The Global COVID-19 Scare

There is a scarcity of resources wherever you look. Toilet papers are flying off the shelves like the migratory Great snipe. People are typically seen hoarding cleaning supplies such as disinfectant sprays, antibacterial wipes, hand sanitizers, and so on. It is difficult to source out masks too!

With the scarcity of supplies, travel restrictions, and the limited capacity to work, the global COVID-19 pandemic has affected the economy in more ways than one. Last week, Wall Street plunged with Dow Jones confirming a bear market for the first time since the 2008 financial crisis. The escalating health fears sent the stock market into a nosedive, which is its worst state since the 1987 market crash.

The Dow Jones Industrial Average fell 1,464.63 points, bringing it 20% below its record set last month. This is what Wall Street calls a “bear market”. A bear market is a condition in which securities’ prices go 20% down or more from its recent highs. It is usually due to the widespread pessimism and negative investor sentiment. S&P 500 lost 140.84 points, which is just 1% point away from falling into the bear territory. While, Nasdaq Composite dropped 392.20 points.

Stocks dove even lower after the World Health Organization declared the virus outbreak as a pandemic. Stock prices reflect expectations of future profits and investors heavily perceive that the virus can reduce profits. Thus, a huge number of investors sought for the coordination of governments and central banks around the world to help control the economical threat of this virus. Until the extent of the decline is clearer, the natural reaction of many is to sell stocks.

The economic trajectory that seemed reasonable a few months a go is not going to be the same for a few months or a year. The wave of corporate conference cancellations, music festival cancellations, directives to work from home, and travel bans will exact a cost on businesses. Airlines, industrial companies, small businesses, educational establishments, service industries, and tech companies are all affected. We are all affected because the spending habits of consumers drive much of our economic activity.

Image Credits: unsplash.com

How long will this economic disruptions last and how deep will the economic market go?

Sources: 1, 2, & 3

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Cost-Efficient Ways To Sanitize Your Things To Avoid Getting Sick

These days, health scares seem to dominate the global news platforms. Instead of resorting to panic, it pays to be prepared. Search to products that can help eradicate bacteria, viruses, and other germs. Practice proper hygiene measures such as washing your hands regularly and using antibacterial hand sanitizers.

Moreover, you must sanitize your household items to defend yourself from COVID-19 and other illnesses. Health is wealth after all!

USE BLEACH

According to the U.S. Centers for Disease Control and Prevention (CDC), the coronavirus seems to spread commonly from person to person via respiratory droplets. It usually transmits between people who are within about 1.8 meters of each other. Current evidence suggests that this virus can remain for hours to days on surfaces made from a variety of materials. Hence, a relatively cheap and highly efficient disinfectant such as bleach is needed!

Bleach kills some of the most dangerous bacteria, including staphylococcus, streptococcus, E. coli and salmonella. It also kills many viruses such as common cold and flu.

CDC advises that bleach will be effective against coronaviruses when it is properly diluted. Use a bleach solution comprising of 5 tablespoons (1/3 cup) bleach per gallon of water. Follow the manufacturer’s instructions for application and ventilation. You may use this solution for toilets, plastic toys, kitchen counters, and more.

FairPrice sells 4 Liters of Clorox for S$5.

STOCK UP ON VINEGAR

A more natural alternative to bleach is using vinegar. You may stock up on vinegar as you can use it for cleaning and cooking. Research has shown that vinegar solution is helpful against some bacteria and viruses, including the flu. However, does not kill dangerous bacteria like staphylococcus.

To use vinegar for household disinfecting, begin by mixing equal parts vinegar and water. Put this all-purpose disinfectant mixture in a spray bottle for easier application. Cleanse counters, mirrors, and doorknobs with this mixture. You know how viruses can transmit thru entering one doorknob! So, cleanse your doorknobs religiously.

Different kinds of vinegar with varying price tags are available in the nearby grocery.

MIX WITH TEA TREE OIL

Commonly used as a natural antiseptic for treating minor cuts and wounds, tea tree oil is more than what meets the eye! It can be strong enough to kill viruses and more powerful bacteria.

For anything that needs disinfecting and cleaning anywhere in the house, a few spray of tea tree oil gets the job done. Simply add 10 drops of tea tree oil to 250 ml of white vinegar and 250 ml of water. Put this mixture in a spray bottle. Spray on any surface such as kitchen counters or floors, and then wipe up. You can also create a tea tree oil mixture for your smartphone.

Let me school you on how dirty your smartphone can get! You touch your smartphone countless number of times throughout the day and you may even be holding it now as you read this. It does not matter if you are diligently washing your hands, if you do not disinfect your smartphone. You see, a 2012 study found that smartphones have more germs than toilet seats. Imagine that!

Deep-cleanse your smartphone without damaging it by spraying the tea tree oil mixture on a microfiber cloth. Spraying to the cloth rather than directly onto the screen can prevent damage. Some even add vodka into the tea tree oil mixture (i.e., 1/4 cup of vinegar mixed with 10 drops of tea tree oil and 1/4 cup of vodka).

Watsons sell 10 ml of tea tree oil for S$14.90.

DISINFECT USING ANTIBACTERIAL WIPES

Aside from your smartphones, one item that you constantly touch at work is your computer or laptop’s keyboard. It is full of nooks and crannies as you click away for hours a day! Disinfect this germ collector daily by following these steps.

If you are using your computer’s keyboard, turn it upside down and use compressed air to remove any dust or crumbs. Then, turn it over and use antibacterial wipes on the surface. Antibacterial wipes are available in Watsons for S$2 (3 packs of 10 pieces). Disinfect as much as possible.

BUY ANTIBACTERIAL LAUNDRY DETERGENT

Prevent your beloved little ones from becoming sick by constantly washing their stuffed animals and blankets. You see, their furry companions hold onto germs.

Check the tag on stuffed animals to see if it can go in the washing machine, and if so, follow these washing instructions by using the hottest water setting possible along with antibacterial laundry detergent. Use the same technique for the blankets. Dry these completely.

Image Credits: unsplash.con

Four liters of antibacterial laundry detergent is currently on sale at FairPrice.

Sources: 1 & 2

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Free Photography Apps To Amp Up Your Social Media Presence

As health scare infiltrates the Red Dot and its neighboring countries, navigating through the world is different these days. While most Singaporeans defend themselves with constant sanitation and proper hygiene, many have been practicing social distancing. Many people are isolating themselves in their own homes once their schooling or their work is done.

To occupy one’s time, you may turn on your social media apps. Sharing your own thoughts and photographs in social media is a common pastime to many. Before you scavenge through gallery to post your previous travel pictures, consider these free photography apps to perfect your pixels!

FOR VINTAGE CAMERA LOVERS

NOMO is arguably my favorite photography app right now. Its concept is to store some of the best vintage cameras in the olden years. Recall the times when you have to hold up the negatives up in the light to scan each frame one by one!

While some of the cameras here are tagged with a fee, you will not be disappointed with the ones you are left with. My NOMO app has five free vintage cameras that vary from a cinematic black-and-white camera to a disposable Fujicolor camera. It mimics some of the most iconic cameras with its filters. See for yourself!

It is free on Apple and Google Play.

FOR EDITING PROFESSIONALS

VSCO is not only part of the Millennial pop-culture, but also a household name for photography enthusiasts. Its slogan is “for creators by creators” after all! The VSCO’s community members can use a single app to creatively edit their photos using preset filters or editing tools. There are a lot of free VSCO presets that can help you save money and streamline your workflow.

Simply import your raw image from the gallery and edit it with 10 free VSCO presets or various editing tools such as grain, fade, contrast, and saturation. Play around with perspectives using crop and skew. Lastly, you can save your favorite edits with “recipes”.

It is free on Apple and Google Play.

FOR SELFIE ENTHUSIASTS

For people who love taking the perfect selfie or groupfie, you may want to download Polarr. Polarr lets novices and pros to enhance their photographs using face-editing tools and a vast suite of touch-ups.

Photography newbies will appreciate the auto-enhance tools and sophisticated filters available on the app. While, professional photographers may take delight on layer support and curve tools.

It is free on Apple and Google Play.

FOR COLLAGE ADDICTS

I, for one, am using collage apps on a daily basis. To make your life easier, you may download the Moldiv app. It is a photo editor that can turn your set of photos into magazine pages. Let the magic happen by browsing through their collection of templates.

Image Credits: unsplash.con

What’s more? You can edit your selfie through Moldiv’s beauty camera touches like smooth skin or enlarge eyes. Then, there is a plethora of filters that you can experiment with.

It is free on Apple and Google Play.

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Introducing Samsung’s First Glass-Screen Folding Phone

As I was scrolling through my Instagram feed, I got fascinated with how the latest Samsung Galaxy Z Flip looks like. It reminded me of my old Nintendo Advance SP. For those of you who are unfamiliar with the bygone SP, it is a handheld game console that can fit inside your pocket. Imagine having a smartphone that you can fold inside your pocket!

Introducing Samsung’s first glass-screen folding phone called Samsung Galaxy Z Flip. You read that right. Its glass display is its biggest selling point! This smartphone is made from Samsung Ultra Thin Glass, which “sets you up for an epic view with a smooth flat screen”. Other folding phones in the market such as Huawei Mate X and Samsung Galaxy Fold have used plastic displays. Hence, the Z Flip feels more premium and fragile as compared to its predecessors. It is a full-screen smartphone that fits in your pocket!

Its 6.7-inch display collapses into half, which will turn any heads whenever you use it. Aside from its physical attributes, another headturner is its unbelievable price. It carries an expensive price tag of $55.50/month for 36 months or $1,998.00 for a 256 GB unit. You may also get it from Samsung’s partner merchants such as Singtel. Singtel’s Combo 2 allows you to get the Z Flip for a monthly fee of $42.90 or Combo 6 for $99.90 per month. These combos are tied to distinct Singtel plans.

It costs more than the Galaxy S20 and Galaxy S20 Plus. Would you believe that it easily sold out throughout the world despite its hefty price? Well, it is true!

Another battle with the manufacturing of the Galaxy Z Flip is the ongoing prevalence of the Coronavirus-19. Just weeks after the unveiling of the Z Flip, Samsung had to shutdown their plant in South Korea after an employee tested positive of the illness. COVID-19’s widespread is taking a toll on the global technology industry and other businesses who are heavily reliant on the Asian supply chain. Disruptions in manufacturing and limitations in travel impedes the success of the current technological scene. The same challenge is felt by the Apple company.

Image Credits: pixabay.com

Apple said that it is likely to miss the quarterly revenue guidance due to the COVID-19, which affects the Chinese consumers and the production capabilities inside China. These are unforeseen and uncontrollable circumstances that Samsung, Apple, and other businesses have to deal with these days.

Here is to hoping that we could all gradually recover soon!

Sources: 1 & 2

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