How To Carry Foreign Currency When Traveling

Armed with a debit card and a stack of American dollars, my significant other and I went on a vacation recently. We needed to unwind as we take a step back from the hustle and bustle of the city.

One thing is for sure! It was a good idea for us to research on how to carry foreign currency in a country we have not been before. Consider the following methods to safely convert your money to foreign currency while traveling.

#1: CREDIT CARD

Credit cards are best used for significant purchases such as hotel reservations, car rentals, and airline tickets. Credit card purchases are usually exchanged at the interbank exchange rate, which leans towards your advantage. What’s more? There are credit cards that rub off their rewards such as added travel insurance or airport lounge access.

The only downside with carrying mere credit card is that some restaurants or stores do not accept credit card transactions. While there are advantages in carrying a credit card, keep in mind the charges that can add up quickly as you return home.

#2: DEBIT CARD OR ATM

Arguably the most convenient and cheapest way to get local cash is to swipe your debit card through the ATMs. You will reap the same interbank exchange rate when you make cash withdrawals through your ATM or debit card as you do when you make a credit card purchase. Spend directly from your bank account with your Visa or MasterCard debit card when you go overseas. Simply ensure that you are aware of the in tree international transaction fees that come with it.

The downside to using your debit card is its foreign ATM use and currency conversion fees. Research on this.

#3: CASH

For immediate purchases that you must consume within the first 24 hours, it is a good idea to carry an ample amount of foreign currency. Before you leave Singapore, remember to exchange your SGD to foreign currency to handle expenses such as taking a cab or buying a meal. Use your cash until you can find the nearest ATM.

It goes without saying that you would not get the greatest conversion rate from your home country. However, it provides a cushion for your immediate expenses and prevents you from being stranded. If you are traveling to a major international airport or a well-known city, you probably do not need to hoard cash as ATMs are of access.

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A WORD FOR SAFE KEEPING

When you are traveling or living overseas, it is entirely impossible that you will not need to spend money in the local currency. Whether you are paying for your essentials or sending money back home, there are several ways to secure your funds.

Research is your best-friend! Know where to get or how to convert your funds while you travel. Bring a small amount of foreign currency abroad unless you can guarantee that the conversion rate is favorable to you.

Nonetheless, you may carry your local currency along with your plastic cards as you cross different countries. Convert your local currency periodically when needed.

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Surefire Ways To Sell Your Items On Instagram

Whether Snapchat agrees or not, Instagram reigns supreme when it comes to engaging its audience. These days, many Singaporeans refer to Instagram as their catalogue of all things travel or lifestyle-related.

Consider the following tips to help you figure out how to sell your items on Instagram with or without its pesky algorithm.

POST THE BEHIND-THE-SCENES CONTENT WITH STORIES

Over 200 million people use Instagram stories on a daily basis. More than one-third of this number view stories for business purposes. Instagram stories last for 24 hours, and they do not show the comments or likes publicly. This means that you can post as many stories as you want to feature a spotlight product or a flash sale.

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Use text, drawing tools, stickers, and GIFs to bring your brand’s creativity to life.

SELL YOUR ITEMS THRU HASHTAGS

As an Instagram user, you are probably aware of the importance of hashtags. Hashtags are important to brands as these tags direct the specific consumers. Branded hashtags represent the majority of big brands such as #BMW or #Prada.

The most used hashtags come from these well-known brands. You may either use their power to your advantage by using related hashtags or use hashtags exclusive to your brand.

USE INSTAGRAM ADS TO REACH YOUR TARGET AUDIENCE

Instagram provides a variety of targeting options through its Instagram Ads feature. You can choose specific targets that will suit your business’ needs. With promotion, you can choose how much you will spend, where your ads will be seen, and how long you want to run them.

Simply set up your business profile account and click the “promote” button. Instagram ads are critical to the marketing strategies of any business.

HOST INSTAGRAM-ONLY PROMOTIONS

With Instagram, you may host an Instagram-only promotion for your followers. They can click the link in your bio to join. To amp up your promotion, you may consider establishing partnerships with Instagram Influencers within the area such as Melissa Koh.

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Instagram influencers continue to be popular given that sponsorships have nearly replaced digital ads these days. The personal recommendations that they add boost the brand’s image. The personal touch makes it easier for consumers to imagine themselves while using your products.

Sources: 1 & 2

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Attractive Advantages Of Selling Online

Have you ever had one of those days when you simply want to quit? Becoming your own boss does not sound bad. Sometimes, selling online is better than having a job.

THE FLEXIBILITY OF TIME

A full-time job in the offices comes with a fixed schedule and you have no other choice. You can either work a 9 to 5 job or a rotating schedule in the course of Monday to Saturday. Your manager has the control over your work schedule.

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In contrast, having an online business allows you to take full control over your work schedule. If you are not a morning person, you may sleep more and start your operations by 10 am. The same can be said when you have to attend a family event. You can turn things around to work in your favor.

THE INDEPENDENCE OF WORK

One of the worst feelings that an employee can experience is being micromanaged. It is annoying to be always told what to do. A mistrusting boss checking up on your decisions can be demoralizing too. Skip these scenarios by becoming your own boss.

Starting your own business online requires you to embrace the responsibility of making huge decisions on your own. You are independent by choice. It can be overwhelming at first, but you can get used to it.

THE POWER OF CREATION

There is no limit to the number of products or the category of products that you can sell. You can tap as many people as you want too! This means that a new product can create a new income stream for you.

It is up to you to market these products. You can choose to market thru videos, audio files, social media ads and more.

THE POSSIBILITY OF PASSIVE INCOME

Setting up your own online business allows you to earn money differently. Your efforts put into product creation and marketing determine how much your can earn. This puts you in charge of your own finances.

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Moreover, you can automate your business to earn money while you sleep. Passive income can be acquired thru global audience and other creative ways.

Sources: 1 & 2

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Online Business Ideas You Can Do Now Without Quitting Your Job

Halt! Do not make rash decisions when you are emotional or over-fatigued. You can follow your passion or showcase your talents without quitting your job. Simply create an online business wherein you can earn money on the side. Consider the following business ideas.

UNLEASH YOUR CREATIVITY

One of the easiest ways to earn money online is by selling your images. If you have a knack for photography, round up your best pictures and sell your brand. Upload your designs on photo-sharing websites such as CafePress or Zazzle. If an individual or a company gets attracted with your design, it can be printed on a product or used for a marketing material.

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Who knows? Your unique design can be displayed on posters, calendars, book covers, bags, shirts, or hats. Do not limit yourself to posting filtered snaps on your Instagram feed!

BE A SOCIAL MEDIA CONSULTANT

We live in a world where digital consumption is fast and pervasive. As a social media consultant, it is your job to use ideal tactics to place the company in the right direction. This includes implementing posting schedules and creating target-specific content. You must have the knowledge of SEO tools and the latest trends.

Running the website, Twitter, Facebook, and Instagram accounts for smaller businesses is something you can do on the side.

BE A PROFESSIONAL FREELANCER

Maximize your spare time by becoming a professional freelancer. Websites such as Upwork or Freelance Zone allow you to apply for almost any task such as writing content, data entry, and programming. These websites allow businesses to get the additional help that they need on certain projects.

Increase your chances of earning money by providing different services in accordance with your skills and interests.

OFFER BOOKKEEPING SERVICES

Aside from being a full-time supervisor for a grocery, my uncle provides his bookkeeping services. Clients will typically come to our home to discuss their businesses. If you want to work from home and are great with numbers, consider this.

You may offer services such as creating financial statements or invoices. Invoicing tools such as Sighted and payment tools such as Due are available online to ease your load.

TRANSLATE VARIED DOCUMENTS

When I was working in a yoga studio, I came across and fitness instructor who translates documents from Italian to English. She does this for a fairly good price. It is one of the most profitable freelancing jobs in the industry. Your proficiency in a language or two is sought after in Singapore.

Advertise your services online in websites such as Craigslist and Gumtree.

BE A RESUME WRITER

It does not matter which industry you came from, you will not be there without an efficient resume or C.V. Some people pay very good money to have their personal statements on paper.

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Transform your gifts with words to gold by writing job documents for a daily rate or a “per page” rate.

Sources: 1 & 2

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Which Suits You Best: Employee or Entrepreneur?

Operating a business can be attractive to individuals with a drive to succeed. However, entrepreneurship is not for everyone. Before take the leap, you should consider the differences between being an employee and an employer.

Let us start with the sense of freedom and independence.

FREEDOM

One of the main reasons why employers open their business is the flexibility of time for family, hobbies, and other activities. They do not have to worry about the possibility of their leaves getting rejected as they hold their time. Enjoying a vacation this weekend without worries in the world sounds tempting!

On the other hand, employees need to abide by the rules or terms set by the company. There is a set work schedule and leave count.

PROFITS AND PAY

It comes as no surprise that the profits gained by the business eventually makes its way to the entrepreneur’s bank account. Parts of the profits can be indulged by the employees through their salaries and bonuses. Some organizations give incentives for their most industrious employees. Consider asking the HR department about it.

In terms of pay consistency, employees receive regular paychecks that entrepreneurs do not. You know how much to expect at the end of the month as an employee. While entrepreneur’s income may vary from month to month or year to year. There is a level of uncertainty for one’s financial future.

RESPONSIBILITIES

Great power comes with grave responsibility. The role of the employers is to protect the health and welfare of its employees. They must create a conducive work environment by providing benefits that will cover their needs. For instance, they can provide healthcare coverage for the employees and their families. This health incentive may improve the productivity of the employees.

The role of the employee is to obey the sensible orders of the employer as stated in the contract of employment. The employee must be responsible and loyal whenever he or she carries out his or her duties. Lastly, the employee must keep sensitive information confidential during his or her time of service.

RESOURCES

Building a business requires an access to a financial capital or other investors. You may need to shell out your savings and earnings not only in the beginning of the business, but also throughout its run.

Owning a business can either eat away your finances or grow it like a flowing cash stream. Are you open to take that risk? This creates a higher entry barrier between becoming an entrepreneur and an employee.

AUTHORITY

Who makes the shots? The employer, or course. The employer has more authority than the employee. He or she controls and monitors what the employee does and how they do it. The authority of the employee can be displayed with the employees who have lower ranks.

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The employer also has the authority of terminating the employment contract as justified by the company’s policies. Imagine having that much control and authority over others! If you cannot then, entrepreneurship is not for you.

Sources: 1 & 2

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