Anna Agoncillo, Author at MoneyDigest.sg

How to Make Money Without Working Too Much

Do you find yourself short of cash but too lazy to find a day job? Well, here are fast and fabulous ways to earn money without working too much…

1. SELL YOUR PHOTOS

Just got home from an overseas vacation? You can still live up the holiday vibe by going through your camera and scanning through your gallery. Pick the ones that you could sell to photo agencies and libraries. Once you find them, go to Fotolia and sell them online.

Image Credits: Mac Qin via Flickr

Fotolia houses more than 20 million cheap or free images, vectors, and videos. It is targeted for publishing and marketing projects.

2. HOUSE-SITTING

Get paid by watching over someone else’s house. It is literally sitting in their house watching YouTube on your handphone instead of doing it on your own home without getting paid for it. You can find house-sitting ads in Gumtree.sg.

3. EARN BY SHOPPING

Sign up for credit cards that have a rebate scheme that fits your needs. For instance, UOB SingTel Card has up to 4% rebate on your SingTell bills while HSBC Visa Platinum Credit Card can earn you up to 5% rebate on petrol. Get a list of Singapore Credit Card and its rebate here.

4. OFFER TO PURCHASE FOR OTHERS AND REIMBURSE IT

Once you get the rewards or rebate card, offer to pay for others then reimburse the money. For instance, if you are going to Hawaii with your friends, offer to book their flights too. This way you’ll earn more rewards or rebates than you could on your own, without spending extra cash.

5. JOIN FOCUS GROUPS

Tired of everyone else ignoring your opinion? Then join a focus group and earn cash or gift cards.

Image Credits: Michael Coghlan via Flickr

This is just sitting in a room full of a small number of people talking about the stuff you like and do not like. Submit a resume or a profile with a marketing company and they will reach out to you personally. You may join an online or local situated focus group. Try Inspired Opinions or Gumtree.

5 Sweet Valentine’s Day Gift Ideas Under S$50

Valentine’s day is just around the corner. While seeking for the perfect gift, keep in mind that you must also be financial-savvy. You may be tempted to go over your budget since you want to make your lover feel special. But, your gifts need not to be expensive to make your loved ones smile! Here are 5 Sweet Valentine’s Day Gift Ideas Under S$50.

1. FOR THE FORGETFUL LOVER

“I LOVE US ROUGH SIGN” by Monoyono, S$24.90.

Image Credits: monoyono.com

To remind your partner of how much you love him or her, hang this rough sign saying: “I LOVE US”. This rough wood sign is available in Black color with cream wiring. How sweet is it to declare your love with this simple statement?

2. FOR YOUR COOL SWEETIE

“ANYONE CAN BE COOL TOTE” by Monoyono, S$26.90.

Image Credits: monoyono.com

Wouldn’t it be nice to give your sweetie a bag that speaks your mind? This Black tote bag exclaims: ”Anyone can be cool, but awesome takes practice”. This 100% canvas tote bag that measures 14 x 14 inches is not only perfect for the beach but also for every day use.

3. FOR YOUR ONE-OF-A-KIND PARTNER

“PERSONALIZED NAME NECKLACE” by MyLittleBow, S$42.

Image Credits: mylittlebow.com

Nothing beats a custom-made gift such as a Personalized Name or Word Necklace from MyLittleBow shop. You may use his or her nickname, your secret code or your term of endearment. It will make your girlfriend, boyfriend or best friend feel that you have really thought of them. Orders take about 3 weeks to be ready, so be sure to place your order early!

4. FOR YOUR FOODIE BUDDY

Image Credits: saveur.sg

They say that a quickest way to a man’s heart is through his stomach. If you desire to impress your loved one without breaking the bank then check out the 3 Delicious Valentine’s Day Dining Places in Singapore That Are Under S$50. Tickle your taste buds with cuisines from France, Singapore, and Mexico.

5. FOR THE ADRENALINE JUNKIE

“NORTH FACE WALL CLIMBING” in Sentosa, S$19

Image Credits: sentosa.com.sg

Want to take on an adventure that is both physically and mentally rewarding for you and your partner? Then try the North Face Wall Climbing in Sentosa. Worry not about falling because the maximum weight the harness can hold is 120 kg. To keep your safety into an optimal level, you are encouraged to cover your shoulders, waist and thighs to minimize any discomfort from the harness. Covered shoes are also required.

Use Envelope Budgeting To Manage Your Money In Just 3 Simple Steps

According to DEBTSteps.com, envelope budgeting or envelope system is a popular way of maintaining a budget. It starts by storing the cash into separate categories of household expenses that are allocated in separate envelopes.

1. TRACK YOUR LAST MONTH’S SPENDING PATTERNS

One of the first steps that you have to take is to analyze your spending patterns, variable expenses and fixed expenses (i.e., monthly electric bills).

Fixed expenses remain the same every month (e.g. Hand Phone Plan, or HDB Rent). Variable expenses include food, entertainment, clothing, and other expenses that may change every month or year. The challenge now is for you to choose on which expenses you can reduce.

2. DEVISE A BUDGET PLAN

Recording all your expenses, no matter how big or small they may be, can help you plan your budget wisely. Categorize your expenses 7 or more sections such as Rent, Utilities, Electricity, Groceries, Gas, Entertainment, Savings, Loan, Childcare, Tax, Travel, etc.

For example if you are Fresh graduate living in your parents’ house and you earn S$1600 a month. Allocate your money with the fixed expenses first.
Rent- S$700

Utilities- S$150

Electricity- S$80

Student loan- S$100

Fixed Expenses Total: S$ 1,080

Then your variable expenses…

Savings- S$170 (transfer it to your bank account)

Groceries- S$100

Travel- S$100

Entertainment-S$100

Emergency- S$50

Variable Expenses Total: S$520

3. PUT YOUR INCOME IN SEPARATE ENVELOPES

Image Credits: wikihow.com/Do-Envelope-Budgeting

Use your marker to assign each category to each envelope. Use whatever size is best for you. It shall be able to fit easily in your purse or wallet. Follow the budget plan and allocate your money accurately. Spend only from the designated envelope and stop spending once you’ve emptied it. This practice of discipline will help you save a great deal of money.

Watch this simple video tutorial of the envelope budgeting or envelope system by NCNBlog:

How A Couple Paid S$36K Worth of Debt In Just 6 Months

A couple from America has consciously decided to look into their expenses and pay off their US$27, 000 (S$36, 474) worth of debt in just 6 months.

Jackie or better known in social media as The Paleo Mama and her husband sat down to discuss their finances since they were supposed to buy a house. If they are going to pursue in buying the house, they will get themselves wrapped up even more in debt.

They found out that they had US$50, 000 (S$67, 546) worth of debt due to accumulated education/student loan and the worth of their new car. They did not realize that they were supposed to pay student loan quickly as its interest and value pile up in time. So, they were determined to turn things around.

Here are the 6 things they did to cut down their expenses and earn more income:

1. MONEY MANAGEMENT

First, it is important to track where your money is going through the last month’s bank statements and receipts. The couple noticed that they are spending too much on groceries and eating out.

Image Credits: Jason Rogers via Flickr

With these things in mind, they devised a plan to categorize each expense and allocate specific amount of money on to it.

2. CUT DOWN MOBILE PHONE PLANS

They switched to prepaid phones and got rid of their iPhones. This brought them from US$160 cost of mobile phone plan to US$60 cost of prepaid phone per month.

3. CUT DOWN THE CABLE TV AND ELECTRICITY

They started using Netfilx and Hulu to stream shows (the first month is Free) rather than subscribing to cable TV. Also, they managed their electricity by turning off the lights and controlling the temperature of the air conditioner.

4. SELLING AND USING ESSENTIAL OILS

In order to earn more money on the side, Jackie learned how to make essential oils and sell them online. They also stopped buying over-the-counter medication and cleaning products and started using essential oils instead.

5. SELL THEIR STUFF

They sold their old car (now they have one family car), furniture, clothes, toys, and so on. Furthermore, they only buy used clothes on Goodwill or the local thrift stores. This helped them earn a lot of money.

6. BE HONEST ABOUT THE SITUATION

They called various companies to tell them that they can’t afford the various plans anymore. The customer services helped them to reduce the payments by more than 75%.

As you can see, Jackie and her husband were able to pay off over half of their debt by budgeting wisely and selling their stuff. Fortunately, you can also use these strategies yourself!

4 Saving Tips You Must Know Before Buying Your Dream Car

Aside from your wedding or your house, a car is one of the biggest investments you will make in your entire life. You do not want to pay more that what the car is worth or get stuck in paying your car loan. This is why it is paramount that you do it right.

1. TIME IS ESSENTIAL

Due to working hours, circumstance, and quota system, the best time to shop for a car is on the last weekdays of the month.

Most car shoppers visit the store during weekends where salespeople are usually busy. To ensure undivided attention, purchase a car early in the week. It is best to purchase later within the day, as salespeople are anxious to get home so they will spend less time negotiating. Lastly, best deals are at the end of the month especially if the dealers are just a few sales away from reaching their quota to meet their incentives.

2. BUY THE OLDER MODELS

Instead of buying a new model of car and losing a great deal of money, purchase a car that is at least 1 to 2 years older. Some may even take second-hand or used cars into consideration.

3. RESEARCH TO BE ENLIGHTENED

Determine how much you want to spend and whether you want to buy a brand new or secondhand car. This will give you a view of how long you have to save to replace your current car (if applicable). Research on the real value of your car options to see if you are getting a good deal.

4. RESIST THE UNNECESSARY

Dealers may make you pay more that you have intended so be firm and him or her that you mean business. Since they work on commission, they may offer you warranty, road service packages, and so on. If it is not needed, say no and stick to it.

Image Credits: JOHN LLOYD via Flickr

Don’t allow yourself to feel uncomfortable and pressured into anything you are not interested in. If you go with a certain number in your head, stick to it. Now is not the time to stray from your budget.

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