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How To Deal With A Stingy Boss

Frugality is an admirable trait, in most cases. Frugal people are typically prepared to tackle the bumps ahead. They are also able to cut down their environmental wastes. However, giving a reaction is essential if the frugality of your boss pulls down your productivity and lowers your workplace morale.

Keep these things in mind before approaching your boss:

WHEN DISCUSSING ABOUT MONEY

As most of the things in life, timing is everything. Choose the appropriate time and place to approach your boss. For instance, you must not discuss about the loss of a major account after your boss got into a car accident. It is not appropriate to discuss serious matter over a phone call either. Remember to equip yourself with respectfulness when discussing money matters.

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Be polite when asking your boss for what you need or want. Be prepared to graciously accept whatever his or her answer is. Do not whine!

WHEN RUMORS CIRCULATE

It goes without saying that the portability of social media influenced how gossips can circulate on a wider scale. With rumor mills running on hyper-drive, people rarely invest their time into validating each one.

Say that there is a rumor about how your supervisor’s errors plummeted the sales of your company. Without adequate research and lack of communication, you can easily make negative assumptions. This is why learning the full story is important.

WHEN ASKING FOR GROWTH

Loyalty is a two-way street. There is a fine line between sacrificing for a company that you love and recognizing that you are taken advantaged of. If you are offering your continued loyalty to an employer for over 5 years then, you deserve to be compensated.

When a cheap boss fails to recognize your value, it can stroke a sizzling fire of discontent.

WHEN YOU FEEL UNDERPAID

If it seems as though your employer is exhausting you in unnecessary proportions then, you may approach him or her for a pay raise (or a better schedule at the very least). You do not need to let your emotions get in the way! You will only sound conceited and demanding. Instead, start the conversation on a positive note. Praise how well the company is doing in the past quarter or the recent months. Afterwards, you may ask how this affects the employees.

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The next step is to do your research. Be prepared to show your employer how your salary stacks up in comparison with people with similar jobs. You are more valuable than you think; otherwise, they would have fired you a long time ago!

Sources: 1 & 2

Bali is known as the Island of The Gods. It exudes a unique cultural appeal, excites holiday-goers with its natural beaches and tantalizes foodies with its wide-range of culinary cuisines. It is little wonder that Bali is an extremely popular beach destination in South-East Asia. It would not be surprising if some of you have already booked a trip there for the upcoming summer holidays. Before departing for your holidays, don’t forget to purchase your travel insurance policy. Do ensure that your travel insurance policy contains “must-have” features such as medical expenses, emergency repatriation, trip cancellation/curtailment, baggage cover etc.

Travel insurance is important because it offers financial compensation during events such as travel disruptions. For instance, Moung Agung’s eruption in 2017 led to the closure of the airport for several days. As a result, additional hotel accommodation needs to be booked, flights rescheduled and some tourists even sought alternative modes of transportation. All these would add additional costs to your holiday budget. While travel inconveniences are entirely unpredictable, a travel insurance policy purchased in advance could partially offset some of these unforeseen expenses.

Many adventurous tourists visit Bali to try activities such as hand-gliding, para-gliding, diving etc. With its picturesque scenery, Bali boasts many adrenaline-filled activities for the sports junkies. You might want to consider getting travel insurance coverage before attempting these leisure activities. For instance, AXA’s SmartTraveller provides coverage for leisure activities such as parachuting, sky diving, bungee jumping etc. Having a travel insurance policy before attempting these leisure activities could provide an additional level of assurance.

Before embarking on your long-awaited getaway to Bali, it is therefore critical to be well-informed of the best travel insurance policies available in the market. You can compare travel insurance policies on SingSaver and directly purchase one that best suits your holiday needs. Comparing on SingSaver is not only convenient; it also helps you save money on your travel insurance policies!

Update: SingSaver is having a flash sale on 19 – 20 May 2018 on selected insurance products, including AXA, where the first 10 successful applicants in each hour (10am, 4pm, 10pm) get their travel insurance for free! For more details, click here.

8 Money-Saving Hacks For Families In Singapore

#1: OPT FOR PRE-LOVED GOODS

Save money while contributing to a sustainable environment by exploring the thrift stores and second-hand markets in the country. From baby clothes to infant accessories, dig deeper to each pile to score some great finds.

#2: REDUCE, REUSE, AND RECYCLE

Reduce your waste by reusing empty containers or recycling products before throwing each one away. Maximize the use of your sandwich bags, plastic containers, disposable utensils, and water bottles.

#3: MAKE YOUR OWN CARDS

With the number of birthdays and holidays in Singapore, your expense for greeting cards will add up. Instead of purchasing a S$5 greeting card from a nearby bookstore, you can have your children create one for you. Children love to use their artistic skills through crafts and illustrations. Let their creativity shine while giving your wallet an extra boost.

#4: SHARE A RIDE

It goes without saying that owning and maintaining a vehicle in Singapore is a costly task. This is where carpooling and GrabShare come in. Save money on ERP tolls, parking fees, and petrol by encouraging a friend to share a ride.

#5: GET RID OF THE CABLE

If you cannot keep up with the television bills then, you may want to enjoy video streaming services instead. Netflix Singapore and Toggle.sg offers a wide array of series and movies. Choose an economic option that will best suit your needs.

Image Credits: pixabay.com

#6: SHOP WISELY

Grocery shopping is tempting for anyone. This is why many people end up buying more than what they intended. Please avoid shopping when you are angry or tired. Furthermore, you must not shop without a list in mind. The list will help you to prioritize your needs over your wants.

#7: WAIT FOR TEN

Shopping for every little item as soon as it runs out is a recipe for disaster! Wait until you need at least 10 items before heading to the store. You may also apply this strategy when shopping online.

#8: CONSIDER FAMILY MEMBERSHIPS

Spending quality time with your family is important. Who does not want to enjoy a pleasant day outside the house? By singing up to family memberships, you can take advantage of various group deals. These memberships are available at National Gallery of Singapore, Jurong Bird Park, Universal Studios, and so much more.

Image Credits: pixabay.com

Sources: 1, 2, 3, & 4

Where Did All Your Money Go?

“Where did all my money go?”, a friend of mine shouted in an open space.

Let us face it! People usually do not realize how much they are spending. You may not have a lavish lifestyle but, you seem to run out of money. Why is this so?

If you want to uncover the answer, tracking your spending comes in handy! Reach clarity by understanding how you manage your money. This step will help you to fully take control of your finances.

DETERMINE YOUR SPENDING HABITS

With the complexities of finances, where do you begin? Consider starting with identifying your spending habits. Do you pay to get your hair professionally dyed or do you dye it at home? Do you buy coffee from Starbucks or take advantage of the free-flowing coffee? Shed a light to your daily expenses and match these with your financial goals.

When you have identified a mismatch between your spending habits and financial goals, you can immediately plan the necessary alterations. Tracking your spending is essential to making better financial choices.

CATEGORIZE YOUR EXPENSES

Looking at your spending habits under a microscope entails that you have the ability to categorize each one. Complete your task by writing your expenses on a notebook or a ledger. Much like us, these expenses exist in a variety of ways. Some expenses are exclusively for students, while others are exclusively for working adults.

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Begin tracking your expenses by dividing a piece of paper into several columns. Assign an expense category on top of each column and highlight the allotted amount for it. For instance, the “entertainment” expense category can only consume S$100 of your monthly income.

TAKE SMALL STEPS

It goes without saying that you cannot force things. Forcing someone to love you reeks of desperation and displays no self-respect. Attraction comes naturally. Same with your finances. Taking control of your finances must not be a forceful act. Forcing success may lead to shutting down opportunities that you could have had. Try taking small steps first.

After categorizing each expense, commit yourself to recording your daily spending. Awareness of your daily spending helps you to keep track of how much you have left on each category. Simply deduct the amount that you spent today from the category’s “allotted budget”. A savvy shopper equips himself or herself with these information.

DOWNLOAD AN APP

Embrace modern technology by downloading an app or a software to keep track of your expenses. I, for one, use the free Spendee app. This user-friendly finance app allows me to categorize my expenses and to illustrate the entirety through graphs or charts. Entering a budget is as simple as pie!

Image Credits: pixabay.com

Some apps or programs allow you to sync your device to the computer. This way, your partner can examine your spending habits too. As a team, you may prevent overspending and stay within your bounds.

Source: The Balance

12 Reasons Why You Aren’t Financially Ready To Get Married

1. Your present goals are mainly self-motivated (e.g., discovering oneself by traveling to several countries in Europe).

2. You are an undergraduate student who does not have an adequate amount of savings. Not to mention, you have to pay your student debts too.

3. You still depend on your parents to cover your monthly bills.

4. You are mortified with the idea of having a someone influence your ability to borrow money. Having a spouse with poor credit score may diminish your chances of getting the best car loan or joint credit card deals.

5. You have pushed the idea of marriage aside to build a career. Furthermore, you believe that attaining success at work will appeal to many potential partners.

6. “No money, no marriage” seems to encapsulate the fact that matrimony requires money, time, and effort. Thanks to the Singaporean wedding industry, couples spend an average cost of S$30,000 on their nuptials.

Image Credits: pixabay.com

7. You cannot afford to face higher insurance premiums. For instance, marrying a partner whose track record with cars is unappealing may negatively influence your car insurance premiums.

8. Your financial resources cannot cover the expenses that come with raising a family. Expectant mothers need to visit the OB/GYNs or gynecologists regularly. As a result, you will have to pay about S$60-75 per visit.

9. Your savings and insurance cannot match the overwhelming hospitalization fees of pregnancy. Can you imagine paying about S$3,000 for a two-day hospitalization in a private room of a private hospital?

10. You and your significant other have differing attitudes and beliefs towards money. Understanding each other’s spending habits and attaining compromise is one thing. But, continuously arguing about money is another.

11. You do not have a clear financial path at the moment. Consider seeking professional help.

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12. You are protecting your properties. Furthermore, you have not figured out how to divide your assets.

Whatever the reason might be, matrimony is a huge decision that you shall make when you are holistically prepared to face the next step. You may not be ready at the moment but, that is alright. No one knows what lies ahead!

Sources: 1, 2, & 3

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