Anna Agoncillo, Author at MoneyDigest.sg

4 Money Decisions That Will Bring Future Satisfaction

1. BUILDING AN EMERGENCY FUND NOW

What happens next if your ridiculously expensive car needs an engine replacement? If you are like countless people in the world, you will opt for using your credit card or taking loans. This will only build piles of debt.

Instead, you must commit to building an emergency fund to use during the “rainy days”. Financial professionals recommend to save money that can cover at least 6 months’ worth of your living expenses.

2. SAVING MORE FOR RETIREMENT

If you envision a life of comfort after you leave the working scene, you will not regret your decision to maximize your contributions to your CPF account or to your retirement plan.

Remember that the amount of money you need to save depends on what type of lifestyle you want to achieve during your retirement. You will need more savings if you plan to purchase a rest house, travel the world, keep your cable TV subscription, and other luxuries. Building your retirement plan while young can bring huge advantages to your financial future because of the power of compound interest. So start boosting your retirement savings as soon as possible!

3. EVALUATING THE RISKS BEFORE INVESTING

Before you lose some or all of your savings, it is important to understand the risks of the investments. Investment hazards include credit, liquidity, market, concentration, inflation, and devaluation risks. Taking a higher risk can potentially give you higher returns. But you have consult a financial adviser first.

As you make informed choices for your wealth, you will appreciate the day that you evaluated the risks before investing.

4. AVOIDING DEBTS

The debt that you accumulate in your 20s (e.g., student or car loans) can haunt you for the rest of your life. So before you take one more responsibilities such as getting married, starting a family, and buying a flat…you must avoid and eliminate your debts first.

Start by paying off the debts with high interest such as quickly as circumstance permits. Then, avoid accumulating debt by purchasing items that you can actually afford.

Image Credits: pixabay.com (License: CC0 Public Domain)

Sources: 1 & 2

Financial Tips For People Dating In Retirement

Dating later in life can be a challenge not only because of your limited income resource but also because of the ever-so-changing dating landscape. In the era of Tinder and online dating sites, dating is entirely different from your first time. However, I believe that if your health permits (i.e.,you have no chronic illnesses or serious health concerns), it is never too late to fall in love again!

Despite its challenges, persevere with these 4 Financial Tips For People Dating In Retirement:

1. REKINDLE THE OLD FLAMES

Use modern technology to your advantage by embracing the power of social networking. Free sites such as Facebook and Twitter, allow you to look up your old friends whom you lost touch with. Do not be afraid to reconnect with your previous secondary school, university, and workmates by instant messaging or even e-mailing them. This way, you are expanding your social circle and increasing your chances of finding a date.

2. CONSIDER ONLINE DATING

If rekindling did not work for you, another inexpensive yet tricky strategy is to consider online dating. For many dating sites, you need not spend a cent as they offer free memberships. But you must proceed with caution as there may be scammers and imposters.

The leading online dating sites in Singapore include SingaporeCupid.com and
SingaporeLoveLinks.com. SingaporeCupid.com offers their services to more than 14,000 members. It has a rather retro design that may seem messy at first but you will soon get a hang of it. With its practical options, you can search for matches based on ages, locations, and other keywords. Members can either be free or deluxe. Deluxe members pay about S$16.95 for 1-month membership.

While SingaporeLoveLinks.com is operated by one of the largest niche dating networks in the world – Cupid Media. What is special about this site is that they bring together the singles of different nationalities. Also, they offer useful functions such as video exchange and instant messaging to its paid members. Members can either be gold or platinum. Gold members pay about S$29.98 for 1-month membership and platinum members pay about S$39.99 for the same time.

3. KNOW EACH OTHER’S MONETARY VALUES

Once you meet someone new, it is important to understand and know each other’s values about money. No need to talk about the specific numbers at first but you need to get an idea of how your date likes to save and spend.

Learn to put yourself in your date’s situation (i.e., spender or saver) by recognizing his or her financial strengths. For example, if your date is a saver then, he or she may view money as an important currency that shall not be wasted.

4. SET CLEAR EXPECTATIONS

After several dates, solidify your bond by maintaining good communication with your date. You must set clear expectations about who pays for what as this notion changes over time.

Time has led to both genders being relatively equals. In fact, a poll by Cosmopolitan showed that less than 25% of women believe that their partners should always pay for the bill and about 40% of women think that couples shall always split the bill.

Image Credits: pixabay.com (License: CC0 Public Domain)

Gone are the days when men pay for all the bills!

Sources: 1, 2, & 3

Delicious And Affordable Places For Korean Soft Serves In Singapore

The unwavering popularity of K-Pop and Korean dramas brought forth the satisfying dessert called soft serve.

Soft serve, a type of ice cream, is perfect for the sunny Singapore climate and its increasing health conscious inhabitants. It is generally lighter, smoother, and creamier than the regular ice cream because of the air introduced during freezing. Due to its formulation, soft serve ice cream melts rather quickly so you must eat lick its goodness rather quickly. Worry not if you consume more than expected as it has generally less milk-fat than regular ice cream.

Inexpensive does not always come with bad taste if you know the right places to look. That being said, here are 3 delicious yet affordable places to satisfy your hunger for Korean soft serves…

1. THE POPULAR ONE

Boasting with lengthy queues daily, Honey Crème’s soft serves are silky and rich. Showing a balance between flavors, all the ingredients are mixed well together by the hand to give a smooth consistency. Customers can avail occasional flavors aside from its classic flavors such as Caramel Popcorn, Comb Honey, Affogato, and Organic Mixed Grains.

If you are a fan or cotton candy or fairy floss, their nice spins are made with organic sugar and natural flavoring. Furthermore, it is stuffed with Italian rock salt to give a twist and even out the sweetness of both the ice cream and the cotton candy.

Image Credits: https://www.facebook.com/honeycremesg

Image Credits: www.facebook.com/honeycremesg

Price Range: S$5.50 – S$6.50

Locations: 313 Orchard Road, #01-37, Singapore 238895 ; 50 Jurong Gateway Road #B1-06, Singapore 608549

2. THE ORGANIC TEMPTATION

Hailing from South Korea, Milkcow offers ice cream made with 100% organic milk from Italian farms. Much like Honey Crème, Milkcow has a loyal following that proves how addicting their products are.

With 14 special flavors, Milkcow’s wide selection of sort serves can be topped with organic honeycomb, cotton candy, fruits, jelly beans, chocolate syrup, and so much more. And if you are confused on which flavors to purchase, consider trying Snow Drop, Milky Peace, and Milky Cube.

Image Credits: www.facebook.com/MilkCow.Sg/timeline

Price Range: S$4.90 – S$6.50 (Soft Serves) and S$1.00 – S$2.00 (Toppings)

Locations: 8 locations nationwide, visit milkcow.sg for more information.

3. THE RISING STAR

Sweet Monster is the new Korean soft serve on the block. With its adorable characters, unique flavors, quality ingredients, and American festival vibes – you are sure to have a wonderfully satisfying experience!

Feast your eyes on their visually pleasing Popcorn Ice Cream (S$6.80) that is in complete dichotomy in taste, texture, and temperature. Is it sweet or salty? Is it crunchy or smooth? Is it hot or cold? Find the answers to these questions yourself by heading to one of their outlets.

Price Range: S$4.80 – $6.80 (Soft Serves) and S$8-8.30 (Cake Ice Cream)

Locations: Plaza Singapura, 68 Orchard Road, #B2-49, Singapore 238839 ; Bugis Junction, 200 Victoria Street, #M01-K1, Singapore 188021
Sources: 1 & 2

Money Is Not The Motivation For Men In “Pink-Collared” Jobs

Men who work in “pink-collared” jobs are motivated by factors that are beyond money and progression.

Teaching, nursing, social working, waitressing, and counseling are among the occupations that economists call as pink-collared jobs. These jobs are generally female-dominated over the years. In fact, in United States alone, 9 out of 10 registered nurses are women. Alongside this are other professions concentrated with women…

Image Credits: Visual data of the U.S. Department of Labor was created by IdeasFisherman

Image Credits: Data from U.S. Department of Labor, Visuals Created by IdeasFisherman

While more and more men are wearing the pink-collar, they still face the stigma associated with the so-called “feminine work”. However, the people who choose to challenge the stereotypical norms about work and success considered other factors aside from promotion and salary.

A recent study from the United Kingdom interviewed men who worked as primary school teachers and as university administrators. They were asked to discuss their career history, their institutions’ support, and their experience of success. Interestingly, their definitions of success include building friendly relationships with their colleagues and having flexible working hours. Their definition of career development was influenced with the challenges faced by their students.

For Singaporean men, passion may also be a factor to overrule the occupational assumptions. You can either be doing something you are passionate about or do something that will logically lead to the work you love. Only then will you be able to give your 100% without feeling like work is forced upon you.

Passion will certainly give you a sense of fulfillment. Research even showed that people who make regular progress toward something they care about reported not only being fulfilled but also satisfied.

Image Credits: pixabay.com (License: CC0 Public Domain)

According to economists, it is important to work towards integration of gender distribution to make the economy more efficient. This way, organizations can find the best suited candidate regardless of gender and its stereotypes.

Sources: 1, 2,3

Creative Ways To Reinvent Your Home Without Breaking The Bank

It is 12 noon at our house and all I hear are the sounds of drills and hammers, all I see are tiles and dust, tools and materials are scattered everywhere. The entire part of the house is under renovation.

Television shows may portray home renovations as something instant and glamorous but in reality, it takes time and effort. Reinventing your home usually consists of unwanted costs and unexpected prices. So here are 4 ways to avoid it:

1. WORK WITH WHAT YOU HAVE

One of the most efficient yet no-cost ways to reinvent your nest is to creatively reuse the things you already have. Search your house and think of the items you can rearrange. Or look for items that you can repurpose such as adding new fabric covers and paint to your kitchen chairs.

2. DO IT YOURSELF

If you and your partner or roommate have a knack for visual arts, consider getting free home inspirations from the Internet rather than hiring an interior designer.

Do an image search of specific keywords such as “modern design wall mounted shelves” to narrow down choices and save more time. Do not copy the entire layout as it may not complement the overall look of your home. Simply take the features that blend with your vision and deduct the things that do not.

3. GET PRICE LISTS FROM DIFFERENT SUPPLIERS

At some point, you will have to hire professionals to accomplish some work for you. To get the best rates, ask your peers and family if they can recommend good contractors and suppliers to you. Your real estate agent may also refer one to you.

Upon getting these contacts, ask them for estimated price lists or quotes then, compare the rates to find the most advantageous. And if you are good at communicating, you can try negotiating for better prices. Additionally, do check out this helpful list to see a guide on your total renovation cost.

4. REVAMP THE WALLS

One of the fastest ways to make your house look luxurious is by giving the walls a new look. As you contemplate on whether painting it or covering it with wallpaper, consider its interlacing factors.

Since Singapore is a tropical country, the heat can make your wallpaper curl up or experience discoloration. Keep in mind that the wallpaper you purchased a couple of years back can be discontinued as time passes. When this happens, you will have to replace your walls all over again. This makes painting more practical and less expensive.

Image Credits: pixabay.com (License: CC0 Public Domain)

5. GET A BATHROOM MIRROR WITH LIGHTS

Stop paying your contractor to fit LED lights with your bathroom mirror. You are often charged a premium for such custom service. Get a built-in bathroom mirror with lights that are available in different sizes and shapes. Most importantly, you are paying just a fraction than what the contractor is going to quote you.

Sources: 1 & 2

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