Anna Agoncillo, Author at MoneyDigest.sg

7 Household Troubles to Fix Yourself and Save More

1. HOLES IN THE WALL

To fix the white wall blemishes that are smaller than 1/4 inch wide then try covering it up with plain toothpaste. Put enough to fill in the whole and scrape off the excess with a knife. If the imperfection is still evident then sand it flat and re paint. For larger cracks you will have to cover it up with “wall filler or spackling compound” that is available for about S$5-7 at the hardware store.

2. UNEVEN WOODEN FURNITURE AND FLOORS

To avoid sanding the whole floor or table to smoothen it up, try this simple solution. Spread a wet towel over the scratched or uneven area then place a hot flat iron on the top then move it in a circular motion for 3-5 minutes. Color it with varnish afterwards if you want.

3. CLOGGED DRAIN

To clear the drain, avoid chemical cleaners as much as possible. Most clogs are in the P-trap (curved pipe below your sink), which is usually easy to access yourself. Place a bucket below to catch any overflow and unscrew the two connections. Clean any debris inside then, screw everything to place.

4. WOBBLY CHAIRS

To silence the creaks and to stabilize the chair’s frame, tighten all the screws first. If the chair has interlocking joints, disassemble the joints. Fill the cracks with an adhesive to bring the parts together.

5. LOOSE CABINET DOORS

Loosen the cabinet screws on the hinge to adjust the door up and down. Adjust accordingly then, retighten once again. A worn out or a bent latch can be replaced by a new one.

6. DIFFICULT SLIDING DOORS

To smoothen the move of the sliding door, you must clean the debris that are jammed within the track and the wheels. Clear it all by running a paintbrush or vacuum along the track.

7. CLOGGED TOILET

This is one of the usual issues faced in the house. To unclog your toilet, use a plunger that is completely submerged. Plunge vigorously! If this does not work, then buy a toilet auger or plumber’s snake in hardware stores that cost about S$13-15. Insert the flexible tool into your toilet drain then rotate it around.

Image Credits: Gary J. Wood via Flickr

There you have it. See, you can solve household problems without calling for backup!

How To Earn Extra Cash While Growing Your Business Empire

As an entrepreneur, you may be aware that you can get financially unstable at times due to the market’s condition and other factors. So, consider ways to get income on the side that will help alleviate some of the financial stress. Try these 5 ways…

1. CAR FOR RENT

Rent your personal vehicle to others in need. You may post an Ad for free at Gumtree or spread the word through self-printed flyers. Get acquainted with the user first to have a firm and trusting agreement regarding the car’s usage. This will allow you to focus on your business while your car is making money on its own.

2. RENT YOUR GUEST ROOM

If you are okay with sharing your house with other tenants then rent out the empty room/s. Once again, get to know the tenants first (i.e., personality or cleaning habits) and set some ground rules because you might be living with them for more than a month. In an event that you need to go overseas for business, then you may rent the whole house to them and charge them more.

3. TRY ONLINE OUTSOURCING

Some online websites allow users to outsource their skills on a freelance basis. If you can do website development, clerical jobs, writing an essay, video editing, or any other skill…try signing up for Odesk to get decent extra income. Salary payment in Odesk is painless because Credit Cards, PayPal accounts, and Bank Accounts are accepted.

4. INVEST IN REAL ESTATE

There are a lot of methods for making money in real estate that do not require your full-time effort so you can focus more on your growing business. You can consider purchasing properties and resell them for profit (flipping houses) or real estate wholesaling. If this area is unknown to you, find your friends or people in your area with the expertise that you do not have and partner with them.

5. CREATE A NETWORKING EVENT

Image Credits: Image Credits: Cydcor Offices via Flickr

Organize networking events to help young professionals interact with the environment. You not only help others to make valuable connections but you also make money by charging the participants for the food or the registration fee.

7 Golden Insurance Tips Every Newlywed Should Know

The vow of “for better or worse…for richer or for poorer” entails an important promise to live in a financially able home. Managing your money on your own can be challenging enough so adding your spouse’s finances may be overwhelming at times. With that in mind, here are 7 Insurance Tips for Newlyweds…

1. DISCUSS YOUR FINANCES AND SET YOUR GOALS

Discuss your finances with your new spouse as soon and as open as possible. You will need to communicate about your bank accounts and about your debts. Set up goals together in order to see which insurance suits your intentions.

2. LOCATION IS EVERYTHING

Housing insurance often pays for destruction, damage, and theft of your possessions. In the event of fire, your insurance will help pay to repair and replace your expensive belongings. Homes close to fire hydrants and fire stations cost less to insure. This is why location of your house is important.

3. TRY THE LUCKY SEVEN

If you are wondering how much life insurance coverage you need, then seek the experts help. Some experts suggest multiplying your annual income by seven so that your spouse is covered for at least 5 to 10 years.

4. CONTINUE DRIVING RED CARS

It is a myth that car insurance companies charge more for red cars. Higher charges come from the age of the client, client’s claims history, and age and model of the car.

5. CONSIDER FLOOD INSURANCE

Housing insurance cover damage caused by pipe overflows but, natural disaster flood are covered by flood insurance. Findings suggest that almost 25% of flood insurance claims are made from low-risk areas, so consider this policy.

6. HOME IS YOUR BIGGEST INVESTMENT

Your home is your biggest investment because unlike cars that depreciate its value the minute you drive them, your house increases its value over time. Houses that are less than 10 years old or those that are renovated within the last 10 years cost less to insure. What’s more? If the house is made of fire-resistant materials such as brick, you can save even more money.

7. BE FIT TO SAVE MORE

Live a healthy lifestyle that includes regular exercise and a balanced diet. Hop on the scale to see if your body weight is the ideal BMI for your age. This is because life insurance companies charge more for people who are overweight since they develop more health problems as time passes. So, stepping on the gym will not only give you a sexy body but it will also help you save more insurance money.

Image Credits: Alan Cleaver via Flickr

Reuse These 7 Household Items To Increase Savings

Stop throwing things out and try these 7 Ways To Reuse Household Items To Increase Your Savings. It not only saves money but it also shapes your creativity.

1. BROWN PAPER BAGS

Want to scratch off plastic book cover to your school supplies list? Then, reuse the brown paper bags you carried from the grocery store to cover your children’s textbooks. You may also cover their notebooks and label it easily with a marker.

2. PLACE MATS

Your place mats can be transformed into colorful drink coasters. Just cut your place mats into circular coasters and place it on the table. Most place mats are water-resistant, plastic, and made for wear-and-tear, so no extra steps are needed.

3. OLD AND UNWANTED T-SHIRTS

Put your worn-out, old, and unwanted shirts into use by cutting it into handy rags. Your arsenal of cleaning supplies will not only expand but your closet will be free from space also.

4. CEREAL BAGS

If you’re a family who loves cereal, then you can avoid buying wax paper again. Wash the cereal bags that come with the box because it can be reused to wrap sandwiches, cold cuts, or freeze meats.

5. CONTACT LENS CASES

Old contact lens cases that no longer hold the lenses can be filled with your daily vitamins. Just wash the cases carefully before using it. This will be a handy way to take your pills wherever you go.

6. CANDLES AND CANDLE WAXES

No need to throw away burnt candles or candle waxes since you can convert them to pincushions. Roll up the wax into a round shape to house your pins and needles.

7. COFFEE MUGS

Being a clumsy menace myself, chipping off the handle of a coffee mug is unavoidable.

Image Credits: EUNOIA via Flickr

Do not throw these mugs just yet because they can be used as perfect homes for your small flowers or herbs. Fill up the mug with soil, plant the seeds or flowers, and place it on the windowsill to have your own portable garden!

Smart Investment And Retirement Strategies From 20s And Beyond

IN YOUR 20s

1. EDUCATE YOURSELF.

Read and understand materials about self-empowerment, investment, and money management. Here are four books to get you started with:

“The War of Art” by Steven Pressfield
“Why Stocks Go Up and Down” by William Pike
“The Intelligent Investor” by Benjamin Graham
“Turning Pro” by Steven Pressfield

2. CONNECT AND DISCONNECT MORE.

Networking is very important especially if you will be dabbling in the field of business. Meeting people with shared interests will not only bring a life of fun but also a life of opportunities. Your network may refer you to your first job or even challenge you to be a business partner. On the other hand, you must disconnect with the distractions such as excessive amounts of alcohol or other vices that are harmful to your body.

IN YOUR 30s

3. BEGIN NOW.

The sooner you start, the more money you part with. In order to retire on 80% of an income, a 30-year-old must save 10% of his or her salary.

4. INVEST IN STOCKS.

Even if the economy suffers badly, your account will have time to recover. For instance, The Fidelity Select Software and Computer fund has yielded more than 11% a year since 1996. Keep it basic with a low-cost index fund.

IN YOUR 40s

5. PUT VALUE TO YOURSELF.

You may want to put your retirement savings into hold because of your child’s college fund. But, keep in mind that you cannot load for retirement yet you can loan for college fees or even get a scholarship.

6. SEEK THE EXPERT’S ADVICE.

To reach the maximum level of your retirement savings, sit down with a financial planner. Create a financial goal together and learn how to save more, spend wisely, and invest to reach it.

IN YOUR 50s

7. STAY WITH STOCKS.

You may increase your percentage of savings by investing in bonds but do not totally quit on stocks. To battle inflation, you must lean on the stocks’ higher growth potential.

Image Credits: American Advisors Group via Flickr

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