Anna Agoncillo, Author at MoneyDigest.sg

In UK, Oil is Cheaper than Packed Water

Can there be an economy where oil is cheaper than water? If yes, how will it affect its countrymen?

According to United Kingdom’s The Independent, a British national newspaper publication, Oil by barrel is now cheaper than the 6 packed bottles (1.5 liter each) of Evian Natural Mineral Water.

A liter of bottled water costs about 42 Pence (S$87 or US$0.66), while it costs about 24 Pence (S$0.49 or US$0.38) a liter for gas…that is 40 percent cheaper!

The price of oil has notably collapsed, affecting every single person in the country. A market analyst for Reuters named John Kemp, highlighted the bizarre state of economy on Twitter saying that not only that the current oil price represented “an unsustainable low level” – but that it was “impossible to predict how low prices might fall”.

Image Credits: Daniel Oines via Flickr

This is not the first time it has happened globally.

In 2011, Saudi Arabia’s petrol costs about 0.45 Saudi Arabian Riyal or 0.16 Singapore Dollars and 0.12 United States Dollars, which is absolutely much cheaper than bottled water. Saudi’s government spends SAR26 Billion on water subsidies every year to keep down their citizens’ water bills (Finfacts, 2011). That is equal to S$26 Billion.

An interesting thought is that unlike any other countries in Southeast Asia, the tap water in Singapore is safe to drink. We can just get a glass of tap water then refill it for free. But, a liter of bottled water in the supermarket is still more expensive than United Kingdom’s liter of oil today.

Image Credits: Luis via Flickr

Although this economic state in UK may cause lower annual prices of other goods easing the cost of living of the citizens…the falling energy prices may result to inflation and threaten the financial stability of the whole country. The Bank of England backs up this statement of warning.

4 Unusual Places to Find and Earn Money

Some people make it their golden mission to find hidden treasures throughout their lives, while others accidentally stumble onto them without effort. Whether it be practical or not, here are 4 Ways You can Find and Earn Money in the most Unusual Places.

1. YOUR OWN BACKYARD

A couple in California discovered treasures in their own backyard while walking their dog. They found 1,427 rare mint-condition coins dating from 1847 to 1894. Then, the coin experts estimated and appraised the coins at US$11 million. Today, you can find the last piece of coin that is offered for sale at Amazon.

Image Credits: Kagin’s, Inc. SRH via Amazon

2. FLEA MARKETS

A man once bought a painting of a country scene at a flea market in Pennsylvania in 1989. It turns out that it was one of the 24 known copies of the original 1776 Declaration of American Independence. In 2000, it was sold for US$8.14 million to the television producer named Norman Lear.

There are various flea markets in Singapore. Maybe you’re the next person to find antiques or special items in the flea market. Nonetheless, you can always find cheap yet useful items, which you can resell again.

Image Credits: Nasrul Ekram via Flickr

3. UNIVERSITIES OR RESEARCH CENTERS

Participate in paid focus groups, online surveys, or research studies that maybe in the field of science, marketing, etc. You may google the opportunities that are near to your city or those that pay even if you are in any place of the world through reputable services such as Paypal. Although while in search, you must make sure that the center or the institution is credible to ensure your safety.

4. LASTLY, IN YOUR BOOKSHELF

Selling your old books and magazines on online sites such as Amazon or Carousell can be a valid option. Not only can you earn extra money but you can also de-clutter at the same time! Also, some people have had success by compiling used books of others or buying books on the cheap garage sales, and reselling them again for a higher price.

5 Fun Family Activities in Singapore under $10

Who says that no family activity in Singapore is cheap? Think again! In fact, some of them are FREE! From free shows to art appreciation, here are 5 Family Activities (under $10) that you will surely enjoy.

1. STARGAZING

Be amazed by the stars and constellations you will see in the Omni Theatre at the Singapore Science Centre. Gaze over the vast universe from 7:50 to 10 pm every Fridays through a series of telescopes. Best of all? It’s FREE.

2. PICNIC BY THE GARDENS

In Singapore Botanic Gardens, your family may stroll over the Rain Forest Trail to see various forest animals (e.g., Giant Mahang and Common Tree Frog) ,and forest plants (e.g. Rattan and Meraga Tree) or the National Orchid Garden to see the beautiful orchids. The entrance for the National Orchid Garden is S$2 for adults and S$1 for children and senior.

Image Credits: Edwin.11 via Flickr

You could lay down your blanket almost anywhere in the Gardens, but one of the nicest spot is probably at Palm Valley and Symphony Lake, especially when they’re staging one the regular free classical music concerts.

3. HEALTHY OUTDOORS

Cycle and jog across the lush greeneries and wondrous beach view of the East Coast Park. If you don’t own bike, you may rent one for S$6. You may also indulge in a family barbecue here, and stay on your own tents to cozy up.

4. ART APPRECIATION

Be absorbed with great contemporary art in the Singapore Art Museum. Their Learning Gallery especially caters for the young minds. It is a rich visual sight that your children don’t usually see. The admission is free for citizens and PRs, otherwise you may check the prices here.

5. WONDERFUL LIGHT SHOW

Enjoy the free “Wonderfull Show” at the Marina Bay Sands every evening from 8pm (full showtimes here). In here you will immerse yourselves in light, sound and music where your little ones will awe in delight. Remember to get there early to secure the best seats!

Image Credits: MarinaBaySands.com

You don’t have to spend too much to have fun with the ones you love. At the end of the day, your presence and quality time spent are more than enough to make them happy.

Watch Out for these 6 Grocery Store Tricks!

Have you ever experienced going into the grocery with a shopping list in mind, and ended up buying more? Maybe it is because you shopped hungry, or just because of the grocery’s marketing strategies. Some grocery stores have subtle, psychological, and clever tricks to make their consumers buy more. Thankfully, I’ve uncovered 6 Grocery Tricks that will help you save more on your shopping bill.

1. VISUAL ELEMENT: SHOPPING CARTS

Upon entering the grocery, you’ll notice the shopping carts. An invention designed in the late 1930s have grown in size over the years. Since larger purchases are easily done, the bigger the cart, the more money may be spent. So, if you intend to buy a relatively medium amount of items opt for using a friendly basket.

2. SENSORY ELEMENT: AROMA OF FRESHNESS

Imagine the smell of baked breads mixed with the fresh smell of flowers. Very enticing right? This is why newly baked goods and fresh flowers are placed near the front door. The goodness of smell will surely make you feel hungry, and keep your mood up!

Image Credits: Paul Swansen via Flickr

3. RIGHT SIDE PHILOSOPHY

Most grocery stores place popular items on the right side of the shelves to move shoppers from the left to the right. This is because all items throughout the store are strategically placed to follow the “right” path.

4. KIDS MATTER

Another strategy is to target the children’s interests because they play an influence on what goes inside the carts. Supermarkets purposely place cereals, toys, and sugary treats at a kid-friendly level. So, do not give in to what your kid wants (unless he/she makes a huge and uncontrollable scene) or you can just leave your kids at home.

5. HIDDEN ESSENTIALS

Essentials such as dairy, bread, eggs, etc. are placed at the back of the store and far away from each other so you’ll be forced to travel the whole store to get it. Once you have travelled, you probably bought more that what you’ve needed. By knowing this trick, you may start with going straight to the back with your shopping list on your hand to keep you on track.

Image Credits: Redjar via Flickr

6. LASTLY, THE NUMBERS GAME

Instead of putting a price of, “$4” for example, they will put an irrational price of “$3.99 or $3.96” to make you think that you saved more money by scoring a better deal. What’s more? They will also put that if you buy more then you will save more! It’s these small details that may sound silly but it surely works.

Sources: Grocery Coupon Network, Idea Finder, & Lifehacker

Grocery stores, like any other businesses, are looking for making profit. This is why they have used strategies and psychological obstacles to entice you to put more items in the cart. I hope that by knowing these tricks, you will be able to shop smarter and save more!

8 Interesting Facts about Money (Saving Tips Included)

Did you know that being too relaxed might lead to overspending? Well, that along with 8 other Interesting Facts about Money may just help you save more. Plus, these facts can be really good conversation starters!

1. MONOPOLY MONEY> REAL MONEY

It is a fact that more Monopoly money is printed each year than real money printed throughout the world.

Image Credit: Sy Clark via Flickr

(Source: FactSlides)

2. MICROTEXTS ARE PRINTED THE BACK OF SINGAPORE’S 1000 BILLS

Did you know that the entire lyrics of the national anthem are printed in the microtexts on the back of the S$1000? It certainly is micro to make all the text fit. Awesome!

(Source: Monetary Authority of Singapore)

3. ALL GOLD IN THE WORLD CAN FIT A TENNIS COURT

All the discovered gold in the world will be able to fit a court of 62 feet and 82 feet on each side. Imagine a whole tennis court covered with gold bars!

(Source: Forest, C., 2009)

4. THE FIRST CREDIT CARD WAS CREATED OUT OF EMBARRASSMENT

Interestingly, the first Credit Card was created because of a man’s embarrassment who had to pay for dinner but forgot his wallet. It surely is a shameful moment especially when you have a date with a pretty lady.

(Source: FactSlides)

Image Credit: 401 (K) 2012 via Flickr

5. NEWER IS BETTER

To save money, fill your wallet with new money. Research showed that you are less likely to spend bills if they are smooth, crispy and new.

6. HIGHER DOMINATIONS WILL EQUAL TO LESS SPENDING

Another way to save money is to stack up more bills of S$100 and S$1000 because research has shown that people are more likely to spend smaller bills, and are reluctant to spend bills in higher domination.

7. BEING TOO RELAX LEAD TO OVERSPENDING

According to the study by Columbia Business School, when people are placed in a calming environment (i.e., classical music with comfortable chairs), and when they feel extremely relaxed, they overspent by 15%. So, it may be best to walk up the escalator or do simple exercises first before shopping.

8. SOME FONTS CAN SAVE MORE PRINTER INK AND TONER

If you want to save money on printer ink or toner, one thing you should do is to change the fonts that you use for printing. Century Gothic, Ecofont, Garamond, and Courier are some of the fonts that naturally use less ink.

(Source: Ehow)

Do you want to learn more? Here is a colorful infographic by Daily Infographic that you can share to your friends! Or, do check out other Money Digest articles.

Search the site