MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Places To Find The Cheapest Parking Rates In Singapore (Most Are Free!)

1. IMM BUILDING

Eager to go on a shopping spree within your budget? Visit IMM! IMM is the largest outlet store in Singapore that boasts with 80 stores offering discounts of up to 80% all year round. Parking here is free for the first two hours and the first entry. Charges for subsequent time are S$0.30/15 minutes and S$1.07/hour. These rates apply from Monday to Sunday including Public Holidays.

Location: 2 Jurong East Street 21, Singapore 609601

2. MUSTAFA CENTRE

Open for 24 hours, Mustafa Centre is heavily popular in the shopping scene. From inexpensive groceries to affordable jewelry. You name it – they have it! In the management’s effort to improve your experience, they are giving away free parking for the first hour daily. Every subsequent 30 minutes or part thereof is charged with S$1.

Be prepared with at least S$2 as you might get drowned with all of Mustafa’s choices!

Location: 145 Syed Alwi Road, Singapore 207704

3. WEST COAST PARK

If you are hoping to de-stress from the city’s work life, grab a bicycle or a kite and retreat at West Coast Park. It is basically East Coast Park’s less crowded counterpart.

Best of all? The parking at Carparks 2 and 3 are free daily!

Location: West Coast Park, West Coast Highway, Singapore

4. CITY SQUARE MALL

City Square Mall, Singapore’s first eco-mall, is at close proximity to Farrer Park MRT station. Aside from its environmentally friendly features and array of food selections, customers can enjoy their free parking deals (details here).

Otherwise, you will have to pay the following rates:

Monday to Friday (except Public Holiday)
$1.40 for the first hour
$0.70 for every subsequent 30 minutes
$3.00 per entry

Saturday, Sunday & Public Holiday
$1.40 for the first hour
$0.70 for every subsequent 30 minutes
$3.50 per entry

Motorcycle Parking
$2.00 per entry (whole day)

Location: 180 Kitchener Rd, Singapore 208539

5. IKEA ALEXANDRA

IKEA Alexandra Singapore offers free parking for the first three hours for both IKEA FAMILY and Non-IKEA FAMILY members (T&Cs apply). IKEA FAMILY members can avail the free parking with a minimum spending of S$5 on home furnishing products. Non-members can enjoy the same privilege by spending a minimum of S$15 on home furnishing products. Nonetheless, you will be charged with S$1.50/30 minutes.

Location: 317 Alexandra Rd, Singapore 159965

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1, 2, 3, & 4

Cheap And Healthy Diet Fit For The Student’s Budget

Aside from academic performance, one area that presents students with a challenge is healthy living. If you are a tertiary student, there are certain hindering factors such as tight budget, busy schedules, and lack of knowledge in cooking.

But there are quick, easy, and cheap ways to improve your diet. Start with these tips:

1. B-A-N-A-N-A

Banana is more than just the fruit that Gwen Stefani was chanting in her song called Hollaback Girl! It is a super nutritious and inexpensive food that is rich in vitamin C, vitamin B6, fiber, and potassium. Potassium, a mineral that helps control blood pressure, inside a medium-sized banana totals to more than 400 milligrams. This is why eating banana is a good way to start the day.

2. HEARTY OATMEAL

Regardless of your age, it is time you embrace the go-to breakfast of many – the oatmeal. Oatmeal contains soluble fiber which helps lower your cholesterol and your risk of heart disease. To upgrade your oatmeal, top it off with grated apples, almonds, or honey.

If you think oatmeal is fancy, try the Quaker Quickcook Oatmeal Hearty Supreme that retails for only S$2.95 (at Fair Price)!

3. VERSATILE EGGS

Eggs are packed with the essentials choline, selenium, and protein. For lunchtime, you can prepare the eggs in many dishes such as hard-boiled and scrambled. Feel full and energized at the same time with quality eggs that are sold for as low as S$1.85 at the grocery.

4. WATER & TEA

Sodas are high in calories as well as carbonated bubbles. This bubbles can accumulate in your belly and add a buldge. So stick to water and tea as much as possible. If you are feeling traditional, try the Sea Dyke Oolong Tea for S$0.90. Or you may try the Dilmah Green Tea With Natural Jasmine Petals, which is on sale until 30th April.

5. DIVINE CARROTS

Like Bugs Bunny, you must create a love affair with carrots to get abundant supply of vitamin A. Vitamin A derives from beta-carotene in carrots. Vitamin A promotes eye health and boosts the body’s immune system.

For snacking in school, cut the carrot in bite-sized pieces after purchasing the pre-packed carrots for only S$0.90!

Sources: 1 & 2

The Current State Of E-Commerce In Singapore

Whether you want to admit it or not, Singapore is a country that is barely seen in the World Map. But despite its size, it is flourishing with a relatively stable economy, an excellent Internet connectivity, a high Smartphone prevalence, and a strategic geographic location. That said, Singapore is a suitable place for E-commerce to boom.

As of the moment, the E-commerce scene has been thriving in Singapore and other countries in Southeast Asia. In fact, Giosis (the firm behind Qoo10) saw its transaction volumes double last 2014. The power of E-Commerce towards our demanding society does not seem to go away any time soon.

To illustrate its scope, here are 4 of the most famous E-Commerce websites in Singapore:

1. qoo10.sg

Qoo10 is a simplistic marketplace that carries everything from coffee filters to pet supplies. It offers regular discounts and promotions to keep you coming back for more.

Aside from this, the website offers a Curator Affiliate Program that gives 2% of the total sales amount if the item is sold due to your curation efforts. And if the item is sold due to your advertising efforts, you will receive additional rewards that are set by the sellers. Join this program with no minimum traffic numbers and no initial fee by clicking this link.

2. carousell.com

Carousell is the brainchild of an impressive Singaporean startup. Carousell, with a concept synonymous to eBay, serves as a marketplace for people worldwide. It is pretty much a Smartphone version of eBay. However, its edge relies on its straightforward listing, selling, and buying experience. In the recent years, the mobile app has expanded in Malaysia, Indonesia, China, and Taiwan.

What are you waiting for? Explore through your pile of books, clothes, and other items. Look for anything of value and good condition that you do not want or need anymore. Then, sell it on Carousell.

3. zalora.sg

This list will not be complete without the powerhouse that called Zalora. Known for its wide range of international and local brands available at several countries, ZALORA is one of the top online retailers that sell bags, accessories, shoes, apparel, and beauty products for both men and women.

ZALORA Singapore comes to my mind whenever I think of workplace suitable shoes or bags that create a balance between shape, function, and affordability.

4. reebonz.com.sg

Reebonz offers the widest collection for both new and pre-loved designer bags, jewelry, wallets, shoes and watches. From Chanel, YSL, to Louis Vuitton bags – they have it all!

As an E-Commerce space, Reebonz boasts with their own brand identity and a long-running presence in Singapore. Its growth touched several markets across Asia-Pacific and has raised about US$50 million (S$68 million) in disclosed funding.

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1, 2, & 3

How To Solve The Most Embarrassing Money Experiences

1. WHEN THE BILL COMES

In Singapore, a passion that bonds us together is our love for food. Naturally, you will find yourself at the center of a large gathering in a restaurant or an eatery. But there is always a tad of confusion once the bill comes. Do you split the bill evenly or do you pay separately (only for what you ordered)?

Light can shine into the situation if the organizer of the gathering speaks up beforehand about the payment arrangements. Otherwise, speak up for yourself before you order. This way, you will not be shocked if you end up paying more that S$50.

2. WHEN YOUR IRRESPONSIBLE FRIEND BORROWS MONEY

In a big clique, there will always be that one person who seldom pays for the money he owes. Although your irresponsible friend is always present during his time of need, he immediately vanishes as the due date of payment comes.

The situation may seem complicated at first but you can surely get out of it. Simply say that you wish to help however, you do not feel comfortable in lending that “amount” at the moment.

3. WHEN YOU ARE OUT WITH A RICH FRIEND

Aside from the irresponsible friend, there will always be a “rich” friend. Whenever you hangout, you end up spending more than you desire because you feel pressured to keep up with your friend’s lifestyle. The situation gets worse if you promised to treat that friend out and he orders the most expensive thing on the menu. I only hope that you have enough money!

To solve this embarrassing dilemma, be honest to your friend about your financial capacity. Explain that you really want to hang out but your tight budget does not allow you to. If he is a real friend, he will understand.

4. WHEN YOU GET DECLINED

There is nothing worse than having a sales clerk or a waiter tell you that your credit card has been declined. In fact, a 2013 survey by CouponCabin.com rated this as the “most awkward money moment”. I can attest to how unpleasant this money-related experience is.

A couple of years ago, I was working as an administrative officer at a fitness studio. A rising Hollywood celebrity came to pay but her credit cards got declined. She was furious at me and gave her debit card instead. Thankfully, the transaction was successful.

Image Credits: pixabay.com (CC0 Public Domain)

You can handle this situation better by keeping your cool. Talk to the personnel privately and arrange an alternative form of payment. Consider going to the nearest ATM to withdraw some cash.

Sources: 1 & 2

Basic Guide To Estate Planning In Singapore

Estate planning advice often focuses on the creation of legal documents such as wills and trusts. The choices you make about where your assets will go after you pass can affect people’s lives profoundly. This is why you must familiarize yourself about the basics of estate planning.

DEFINITION

In simpler terms, estate planning dictates how you would like to distribute your estate after your death. Your estate encompasses your properties, savings, and money. It makes sure that the people you love and the causes you care about are covered even after the inevitable event of death.

TRUSTS

As said above, estate planning primarily includes the creation of a will by appointing an executor. For individuals with higher net-worth, they may choose to create a trust in order to transfer their assets to pre-determined beneficiaries. Singapore is a prime financial hub for individuals with higher net-worth to set up their trusts. It is because the country is characterized by:

a business promoting environment,
a comprehensive legal system,
a globally competitive infrastructures,
a strategic geographic location, and
a robust set of regulations for the financial sector.

As trusts are used as a long-term tool, you must closely evaluate the pros and cons before setting one up. For instance, trusts are a viable option for vulnerable beneficiaries such as minors. However they can be costly and difficult to maintain.

TERMS

Here are the common estate planning terms that may boggle your mind at first:

Alternate Beneficiary is an individual or an organization named to receive the assets in the unlikely event that the primary beneficiaries die.
Co-Trustees are two or more people who had been named to coordinate in managing a trust’s assets.
Durable Power Of Attorney For Asset Management is a legal document that bestows a person full or limited legal authority to sign your name on your behalf in your absence. Its validity ends at death.
Gross Estate refers to the value of an estate before the debts are paid.
Will is a written document that includes the instructions for allocation of assets after one’s death.
Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1, 2, 3, & 4

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