MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Qatar Airways Summer Sale: Fly to Europe from SGD935

If you have not started planning for your summer holiday, Qatar Airways is having a summer sale where air tickets to Europe start only from SGD935, for travel up to 31 March 2018.

Here are 5 European cities we absolutely love and are perfect for visiting in the summer.

Barcelona, Spain

If there is one tourist attraction to visit in Barcelona, it is the La Sagrada Familia church. For over 130 years, the church remains under construction and is slated to be completed in 2026. Despite so, its façade is enough to attract millions of tourists from all around the world. Barcelona is also poised along the Mediterranean sea, making its beaches – such as the La Barceloneta beach – one of the most beautiful beaches in the world to bask in the summer heat.

Fly to Barcelona from SGD935.

Helsinki, Finland

While many visit Helsinki during the Christmas period as it is widely known as the “Christmas City”, Helsinki has so much more to offer than just snow and Christmas lights. In the summer months, temperatures are cool, yet warm enough for you to tour around the seaside city. Pay a visit to the Suomenlinna Fortress, a UNESCO World Heritage Site, and spend a tranquil day at a café or simply pack a picnic with your loved ones at one of their lush gardens.

Fly to Helsinki from SGD965.

Pisa, Italy

Needless to say, you should definitely drop by the iconic Leaning Tower of Pisa and take as many touristy shots of you trying to support the tower as you can. If time permits, take a train down to Cinque Terre and be wowed by the spectacular sights of the colourful houses built on a hill by the cerulean-blue sea. Hiking Cinque Terre can be done within the day between the different towns. Proper hiking shoes is advisable.

Fly to Pisa from SGD1,085.

Paris, France

Paris is a top tourist favourite due to what it has to offer in the fields of art, fashion, gastronomy and culture. With so many popular tourist spots such as the Eiffel Tower, the Louvre and Arc de Triomphe, be sure to pack comfortable shoes as your travel itinerary is guaranteed to be packed!

Fly to Paris from SGD1,150.

London, UK

Nothing spells London more accurately than the Big Ben and the London Eye. Harry Potter fans can also watch their childhood dreams come to live when they drop by the Warner Bros. Studio to check out the filming set, props and costumes used in the Harry Potter films. Also, be sure to reserve a full day and take a trip down to one of the Seven Wonders of the World, the Stonehenge.

Fly to London from SGD1,200.

All you have to do is visit qatarairways.com/sg and book your air tickets by 7 June 2017 for travel up to 31 March 2018.

Good news for all POSB and DBS cardmembers! Enjoy up to additional 15%* off to more than 40 cities in Europe when you book with your DBS/POSB debit and credit card via qatarairways.com/dbs by 15 June 2017.

Should You Spend Your Hard-Earned Money On Fitness Accessories?

At a young age, my parents instilled the importance of cultivating a healthy lifestyle. Our collective hobbies consist of cycling at East Coast Park and swimming in the nearby community pool. I do not mean to brag! You see, my mother works in the field of fitness. On the other hand, my father has prior experience in making workout programs for diverse body types.

My parents taught me that staying fit is not an easy task. This is why many Singaporeans seek motivation by hiring a professional trainer or by purchasing a fitness accessory. Fitness accessories include trackers, watches, bands, and so on. The goal of these accessories is to make your routine more exciting and more effective. During my exposure to these products, it made me wonder if investing one’s hard-earned money on fitness accessories is worth it.

To make a solid decision, you will have to consider various factors that interact in this situation. Start by determining what you need. When it comes to fitness accessories, a particular size does not fit all! Health-conscious individuals gravitate to either the smartphone apps and the wearable tech. Some wearable fitness accessories are created to capture the intricate details such as the heart rate, foot-ground contact time, and runner’s cadence. These details may not be accurately captured by a smartphone app alone. If you are placing more value on the functions then, you may consider purchasing a wearable tech.

Second, you must determine what you can realistically afford. A nice trick is to visualize the act of replacing your accessory every month or two. As you visualize this, think of an amount that you can easily work with if you are going through the constant replacement. Please do not spend more money than you can afford in a short-term basis.

Shelling out hundreds of dollars on wearable fitness accessories do not necessarily mean that you will get the best results. In a study published recently in the Journal of American Medical Association, researchers found that “smartphone apps could prove to be a more widely accessible and affordable way of tracking health behaviors”.

Image Credits: pixabay.com

I suggest that you test the waters first! Commit to a quality (yet free) smartphone app such as Moves, before you purchase an expensive activity tracker or a fitness band.

Sources: 1 & 2

Why You Should Not Keep Your Entire Wealth At Home

Not every Singaporean believes in the prowess of financial institutions. There are some people who prefer to hide their wealth in a personal safety deposit. If you are one of these people, take time to introspect.

What is the real reason why you keep bundles of cash at home? Do you foresee a need in the near future? Lacking immediate reasons why you need the money highlights that stashing your cash at home is not necessary. Do not get me wrong! It is alright to spare a decent amount of cash for emergency purposes. However, it is not advisable to store your entire savings at home.

I shall share my own experience to put things into perspective. I started to build my savings in my late teens. As a newcomer in the workplace, I was completely transparent with how I manage my money. Oh! How I wish that I was not. Unbeknownst to me, my boss was a member of a financial “support group”. Those type of groups exist in Singapore. Some of these groups even advocate different methods of expanding one’s income. It was natural for my boss to question my ways. He pointed out how keeping my savings at home will not allow my wealth to grow. At that point, I did not absorb what he meant. So, I did my resarch. I eventually understood the importance of compound interest. I opened my own savings account at a local bank.

The interest rates offered by banks may not seem a lot, but every bit counts! The slightest percentage you would earn in a standard savings account is much better than what the 0% interest that you will receive at home.

The second factor focuses on the “safety” aspect. The mere presence of tangible cash makes you vulnerable to uncontrolled circumstances such as fire, pest infestation, and theft. Despite the relatively low crime rates in the country, you cannot deny the possibility of getting robbed. The temptation can be irresistible for your teen who wants to party on a Friday night or your toddler who wants to create a beautiful artwork. This is why you must place your wealth in clever hiding spots (look through this list). Simply remember where you put it!

The third factor involves accidents. You might actually throw or leave your cash behind. It is easy to neglect where you hid your fund if you are really good at it. What is worse? Someone else may find it and get rid of it. In 2009, a woman in Tel Aviv (Israel) gave up her old mattress. The only problem was that she placed a million of her savings inside the old mattress.

Image Credits: pixabay.com

The moral of this story is to consider safer alternatives than keeping your wealth at home. For instance, you can pay with your credit card when the rainy day comes.

Sources: 1 & 2

Extend Your Computer’s Longevity To Save More

I can vividly recall when my MacBook’s motherboard crashed. It was just like yesterday. I have to admit that it was entirely my fault as I spilled a decent amount of hot beverage on it. The situation is bad as the motherboard holds many crucial components together such as the CPU and the memory.

To my horror, the damage took me back by S$500. This amount is almost half the price of a brand new iPhone 7. It was too much! This faux pas was a buzzing reality check for me. I needed to take care of my devices for many years to come.

Keeping your laptop or computer working is vital for your sanity, productivity, and budget. So, consider these tips:

BLOCK THE NASTY BUGS

Upon opening the fresh boxes of your laptop or computer, one of your top priorities is to install an anti-virus application. An adequately protected device will prevent the corruption of personal data and other important files. Furthermore, it will give you a smooth functioning operating system. Worry not about shelling tons of cash as you can download free applications such as Avast and AVG 2017.

DECLUTTER YOUR SPACE

Aside from the viruses and malware attacks, too much clutter can slow down the operation system. A quick way to clean your space is to transfer your bulky files into an external hard-drive or hard disk. A 1 TB portable disk can cost you about S$80 at Lazada Singapore and S$89 at Courts Singapore.

The more space you have, the better your device will run.

CLEANSE YOUR KEYS

A filthy keyboard is not only a health hazard, but it can also damage your keyboard completely. Make it a habit to sanitize your keyboard and track pad.

Cleanse your keys by turning it upside down to release any loose materials. Then, blow into it to remove any debris between the keys. The last step is to dip a cotton swab into rubbing alcohol and wipe your keys and track pad gently.

STRENGTHEN THE BATTERY

The battery is an essential part of any device. Take care of your computer or laptop’s battery by draining it at least once a month. Afterwards, you must allow it to have a full cycle before you use it again. For laptop users, unplug it and rely on the “stored battery life” to keep it working.

Image Credits: pixabay.com

The act of draining and recharging helps to maximize its performance. When battery replacement is necessary, look for lithium ion (Li-Ion) batteries as they have the greatest longevity.

Sources: 1 & 2

When Is It Okay To Sacrifice A Bigger Paycheck?

Congratulations! You have been offered the position that you have been pining for. During your final interview, you realized that the starting salary is less than what you expected. It is completely normal to feel disappointed at first. But, you must not dismiss a job offer because of the relatively lower paycheck.

Do not get me wrong! I am not advocating the acceptance of an utterly ridiculous offer. All that I am sayings is that there are some scenarios where a lower paying position can pay off in the long run. Here are just some of them:

#1: WHEN THERE ARE OPPORTUNITIES TO GROW

Just because your current position pays lower than expected, does not mean that you are going to be stuck in a low paying role for a lifetime. A low paying position may be used as a stepping stone for something much brighter. For instance, many bank employees agree to contract roles for a chance to be converted into permanent staff.

Other institutions provide opportunities to jump to different departments as they do not want their employees to be stagnant. Alternatively, you may use your acquired skills and experience as a leverage for the next company that you will apply for. You can get paid more as an “experienced” candidate.

#2: WHEN YOU WANT A CREDIT BOOST

there are two ways to boost your credibility without having to accept a bigger paycheck. One way is to apply for a recognized company and the other is to take on an impressive job title. Let us start with the former.

Notice how employable a person is when he or she comes from a multinational corporation such as Microsoft, Adidas, and Kia Motors. It is usually a good idea to accept a relatively lower pay to reap the benefits of a company name in your CV. But, be sure to move on to the next company when the right time comes.

The latter involves a flashy new title. Say you have been a sales associate for several years. Becoming an administrative officer for the same company seems like a breathe of fresh air. Although you will get paid similarly (or even less), you prefer a new title to gain more respect within the company. To other people, this compensation is enough.

#3: WHEN YOU ARE MAKING A CAREER SHIFT

A friend of mine has been in the retail industry since she graduated from a local university. In her early 30’s, she began to seek fulfillment beyond raising a brand’s sales. She became a preschool teacher. The starting pay was lower than what she expected, but she accepted it. You see, one of the major reasons why employees settle for less pay is because they are switching into different industries.

As the founder of an HR company called T.R. Ellis Group once said: “It’s unreasonable to expect to receive top dollar when you move into a role where you have little to no experience.” Think about the training expenses the company has to shell out just to broaden your skill set!

#4: WHEN THE BENEFITS ARE BETTER

I will let you join my trip down the memory lane. My first job did not include dental or medical benefits. I had to tap into my savings whenever I get sick just to get a medical certificate from the family doctor. To my delight, all these benefits were wrapped around the bow of my succeeding positions.

Perhaps you have to sacrifice a bigger paycheck for a job that covers your graduate studies or your travel expenses (e.g., flying overseas once a month). Workplace benefits may not appear as cash sometimes. This is why you have to look at the entire picture.

Image Credits: pixabay.com

Sources: 1 &2

Search the site