How To Fuel Up Your Money After Vacation

With a burnout heart, my friends and I decided to go on a week-long vacation to Bangkok. We have been working so hard for the past months that our bodies craved for a break. There is nothing wrong with giving yourself a reward from time to time. We all need and deserve it.

However, you may hit a financial iceberg when you go overboard. This happens to many Singaporeans who are on a vacation. They think that they can throw caution out of the window and spend like there is no tomorrow!

During our trip, we maximized each day by going to several tourist attractions from day to night. We spent more money than our perceived expenses. After our week-long sabbatical, I decided to fuel up my funds.

STEP # 1 – EXAMINE THE DAMAGE

As with everything, the first step is awareness. Find how much your vacation has cost you. Accept the fact that you cannot undo the expenses you have drained while you were on a vacation. You cannot bring back the time you bought a new sarong to comply with the temple’s dress code! While you cannot take back the S$200 you spent in a posh bar, you must still know how much you spent during your trip.

Ask yourself the following questions:

a. How much did I spend on a daily basis?
b. How much is my credit card bill?
c. Can I afford to pay in full?
d. When will my next paycheck arrive?
e. Will I need to take some money from my emergency fund?

You may not realize how overwhelming your financial state is while you were on a vacation. So, now is the time to see the total damage. Knowing where you stand financially can help you to recover with ease.

STEP # 2 – TAKE NECESSARY ACTION

After identifying the financial holes, it is time to take action. Rewrite your budget in accordance to your current financial situation. Allot a portion of your funds to repayment of your credit card bills or lost savings. Make things easier by downloading budgeting apps such as Mint.

During the recovery period, you must do your best to tone down your spending. Eliminate or cut down optional expenses for the next few months. Dine out less and take fewer trips to the shopping malls. Minimize your spending by steering away from temptations! Do not worry about bending down as your financial diet will not last forever.

You may also earn money by taking up a part-time job. Get extra money without sacrificing your main source of income.

STEP # 3 – LEARN FROM MISTAKES

You have learned your lesson by facing its consequences. The next time you go on a vacation, you will know better. Use what you have learned to strategize your itinerary. Perhaps you can dwell on experiences rather than buying too many souvenirs for your family. In Bangkok alone, souvenirs start at S$5. Besides, these souvenirs may end up as clutter in someone else’s home. Do not get me started with the overpriced food in tourist spots!

Before going on a vacation, you can start writing down a budget that will include your expenses and a cushion (i.e., emergency funds). I remember when we were shocked by the S$215 boat ride in the Floating Market. I had to withdrew more money on that day. Providing a travel cushion can prevent this. Stick to the budget as much as you can!

Image Credits: pixabay.com

There are many ways to fuel up your overused wallet such as creating a new budget or eliminating optional expenses. Follow these tips to recover financially from your vacation splurge! Ensure that going overboard does not happen again.

Read More...

6 Credit Card Do’s & Don’ts

DO NOT SPEND WITHOUT CONTROL

Let me start by saying that you must not spend more than what you can afford. Remember that credit is a loan, which is meant to be repaid. It is your responsibility to stay on top of your debts and to keep your commitment with the lenders. Maintain your control by avoiding the credit limit of your cards.

DO CHECK YOUR CREDIT HISTORY

Reality check! Credit cards with premier rewards and terms fall down to candidates with the best credit. This is why it is important to see your financial circumstance in the eyes of an issuer. Consider getting a credit report, before availing a credit card. Keep your eyes peeled to some errors!

Image Credits: pixabay.com

DO NOT PICK AN UNSPECIFIC CARD

Much like a box of chocolates, credit cards exist to embody different functions. Some are used for travel miles and others are used for shopping rebates. You must figure out which credit card suits you best! Compare credit card options from different issuers, before making a grand decision.

DO KEEP UP WITH YOUR STATEMENTS

To reap the benefits of your credit cards, you must fully pay for your statement each month. Not paying the full amount entails acquiring interest. The interest that you will be paying for will just cancel out any benefits that you are meant to receive. Moreover, paying off your statement each months ensures that you stay out of debt too.

DO NOT GIVE YOUR CREDIT CARD INFORMATION AWAY

As much as you trust a partner or a friend, you must not give your credit card information to someone else. It may entice this person to use it against the law. Say that you lent your credit card to a co-worker. While some cashiers do not check NRIC these days, you will never know when someone will ask for it. You would not want to be entangled with a “fraudulent” scene.

Image Credits: pixabay.com

DO MEMORIZE THE ISSUER’S HOTLINE

A credit card offers an additional layer of protection than a debit card. Debit cards only offer the pin numbers as protection. You see, credit card companies often have a department that follows up on reports of fraudulent charges. Things will be taken cared of, if you quickly report a stolen credit card. Thus, you must know the no-cost hotline of your credit card issuer.

Sources: 1 & 2

Read More...

5 Singaporean Brands Turned International Success

As flowers bloom in a humble garden, so does these homegrown brands. Five local brands refined its roots and flourished its branches all over the world. Their innovation and evolution should make you proud that they were from the little red dot!

TWG

Solidified in our history is Singapore’s rich background in tea trade. Its close proximity with tea-growing Asian countries led to the eventual boom of a local tea brand called TWG. The founders of TWG, Manoj Murjani and Taha Bouqdib, met by chance in Paris. They fused Murjani’s experience in high-end fashion and Bouqdib’s expertise in tea to create the luxury brand TWG Tea.

Tea enthusiasts and alike consider TWG as their go-to brand for quality tea. Not to mention, it is served in premier hotels and front cabins of Singapore Airlines. It quickly rose to prominence worldwide in 2009 when it sold 650 tons of tea. The brand expanded to the US markets with the help of Dean & Deluca and to the UK markets with the help of Harrods.

CHARLES AND KEITH

It all started when siblings Charles and Keith Wong helped out at their parents’ shoe shop in Ang Mo Kio. As business became slow, their mother closed up the store. A tenacious and hard working Charles Wong did not give up! He managed to turn things around in 1996 when he opened the first Charles and Keith store at Amara Shopping Centre.

To stay relevant, the brand offered other products such as bags and accessories. It later launched a footwear line exclusive for men – the Pedro. Moreover, it became the first to have an online shop in Singapore. Talk about being at the forefront!

TIGER BALM

Whenever I experience dizziness or muscle soreness, I usually turn to my go-to ointments such as Tiger Balm. Most of our grandparents are advocates of this balm to use for almost any ailments under the sun!

As years went by, they grew into a brand with a range of formulations. Tiger Balm offers back pain patches, medicated plasters, medicated sprays, mosquito repellents, and lavender-scented Tiger Balm Soft. This local brand knows that a way to a modern man’s heart is evolution!

BREADTALK

Most of us know that the international bakery with a distinctive orange logo was founded in Singapore. I cannot imagine living a life without BreadTalk’s Hokkaido Chocolate Dome! It is addictively sweet and filling. All these were possible due to brainchild George Quek.

George’s entrepreneurial journey began in Taiwan as he sold dragon beard candies. Years passed. He saw the potential of making bread a lifestyle concept in Singapore, where neighboring bakeries offer the same items. So, he founded a revenue-generating enterprise named BreadTalk Group in year 2000. BreadTalk bakeries presented a unique selection of breads in a sleek fashion. It revolutionized the local food and beverage industry.

Following BreadTalk’s success, George has continued to dish out new concepts such as Toast Box, Food Republic, and Din Tai Fung. The later was one of his biggest challenges as it took the company to an international level! What I like most about George is that he remains humble by saying they: “are learning every day to make the concepts of the BreadTalk Group a continued part of our consumers’ lives, by evolving our concepts and products to ensure they are always creative, engaging and relevant to the times.”

OSIM

When founder Ron Sim was asked about the origins of his brand, he said that “SIM” came from his surname and “O” came from the shape of the globe. He envisioned that Osim International will spread worldwide and it came true. It is a specialized retailer of home health care products spanning from one shop in 1986 to over a thousand shops in the present.

Image Credits: pixabay.com

What started out as a rebound from the 1985 recession, Osim International became a reputable wellness success. Ron attributes his brand’s expansion to having consolidated products manufactured by different companies under the Osim International brand. He even sells these products at retail-giant Amazon. Furthermore, Ron spares no expense to raising the brand’s profile by casting internationally known celebrities such as Chinese actress Gong Li and Hong Kong actor Andy Lau in their campaigns.

Sources: 1 & 2

Read More...

Rise And Fall Of Sembawang Music Centre

Remember the time when cassette tapes and CDs were a big deal? Well, the popularity of stereo and portable CD players came with the massive impact of Sembawang Music Centre (SMC).

Before we reminisce the existence of this local legend, let us go back to the birth of the CD. The CD is often times attributed to inventor James Russell who used multiple optical mediums. However, it was finalized in the 80’s when Sony and Philips created the famed “Red Book” standard. The standard follows a 120mm diameter disc with music at a resolution of 16 bit/44.1kHz. To many, this is still regarded as the optimal digital standard. This newly revamped CD made its way to the greater public in 1983.

It makes sense why Sembawang Music Centre reigned supreme in the 1990’s to early 2000’s. From cassette tapes to CDs, music enthusiasts of the yesteryears were satisfied with the collection of SMC. It is a mainstay in the music retail industry with an operation spanning for more than two decades. Students often save up every cent of their allowance to buy an album or two!

Image Credits: straitstimes.com

It got its name from the shopping centre from which it started – the Sembawang Shopping Centre. In its humble beginnings, it stored some of the most rare music finds. It made every weekend a musical treasure hunt for adolescents and adults alike. During its peak, it had about 26 outlets in Singapore! Several outlets were found in Raffles City, Thomson Plaza, and Plaza Singapura. Having decent locations were not enough to avoid its downfall! The digital wave in the music industry made retail stores like SMC obsolete. You can buy almost any song from iTunes, stream your favorite playlists in Spotify, or download illegally at no-cost from various websites.

Image Credits: pixabay.com

People like to listen to music and they like it now! The convenience that digital music platforms can offer led to the diminishing popularity of physical music retail stores. As a result, Sembawang Music Center filed for bankruptcy and eventual closure in 2009. SMC, you will always be a part of Singapore’s musical history.

Sources: 1 & 2

Read More...

Complete Your Home Gym With These Inexpensive Equipment

One of my partner’s resolutions for the year 2019 is to achieve his ideal shape! With this goal in mind, he enrolled in a nearby gym and set a schedule for his fitness regimen. To support this, he and I exercise at home with the following equipment.

Do not worry! You do not have to break the bank to get ripped.

YOGA MAT
Price: S$9.90 at Decathlon

Image Credits: pixabay.com

Investing in a Yoga Mat is a must due to its versatility. Not only can you do all sorts of yoga poses in a non-slip surface, but it can also protect your joints as you exercise. Exercising on a yoga mat goes beyond the practice of yoga. You can do push-ups or ab crunches while on the mat.

PVC HAND WEIGHTS
Price: S$13 at Decathlon

Easy-to-grip hand weights or dumbbells need no introduction! They simply add resistance to your cardio routine or strength training. You may also step up your yoga poses while holding a pair or two-pound weights!

JUMP ROPE
Price: S$2.50 at Decathlon

There is a reason why boxers incorporate the classic jump rope to their training. It improves a range of skills such as balance, stamina, endurance, and coordination. Not to mention, this lightweight and tangle-resistant rope is adjustable for different heights.

RESISTANCE BANDS
Price: S$3.90 at Decathlon

Resistance bands are cheap, convenient, and light. Toss a couple of resistance bands in your drawer to enjoy the 20 to 50 pounds of resistance in aid of your strength training. Research about the poses that you can do with it.

AB WHEEL
Price: S$10 at Decathlon

The Ab Wheel is one of the as-seen-on-TV products that actually work. It earned the hearts of many due to its ability to tone the abs. If you are sick of crunches, this alternative may be perfect for you! Made of stainless steel or heavy-duty plastic, it is durable enough to last.

MEDICINE BALL
Price: S$4.90 at Decathlon

While I will not require you to spend a huge amount of money on a full set of medicine balls, you may invest in one or two of them. Medicine balls are about the size of a Basketball, but can weigh from 2 to 30 pounds.

Image Credits: pixabay.com

Use these weighted balls to support your ab exercises. Ultimately, it is fantastic for building your upper-body power. Try throwing it against the wall or to a partner.

Sources: 1 & 2

Read More...