Money Saving Sites Every Singaporean Should Know About

Moneys inside a pig

Saving money is easy in theory: just spend less than you have. But that’s a little like saying architecture is easy because you just “build buildings”. We all know it’s not that simple, so here are some sites that can provide keen insights and step-by-step help:

1. DollarsAndSense.sg

The best thing about DollarsAndSense.sg is its hyperlocal focus. In case you haven’t noticed, things work differently in Singapore–we have concerns like what to do with our NS pay, or whether we should invest our CPF money. You can even get some insights about where you stand income wise.

For those of you who need to know about money issues in Singapore, this is a good first stop. You won’t be bombarded by articles about FICO scores, or insurance policies that don’t exist locally. Expats in particular should take note.

2. The Wealth Journey

Into investments as well as savings? The Wealth Journey is a blog that has a pretty good balance between the two. This is a blog, and a lot of the content is commentary on something else. But the commentary almost always highlights an important lesson or two.

The Wealth Journey isn’t the prettiest site on this list, it’s mostly walls of text. But there’s never any advertorials or obvious promotions, so it seems our anonymous blogger (who just calls himself/herself an accredited investor) is offering independent insight. Come here when you need perspective without being sold something.

3. Cheerful Egg

This blog is more focused on the psychology of personal finance than strict numbers. You may not find lists of the cheapest cafes or home loans, but you will get some understanding as to how our brains are wired. If you’re a fan of writers like Malcolm Gladwell or Dan Ariely, you’ll love this content.

You can find out what drives successful investors, why saving is so hard, and (on some posts) mind hacks you can use to make getting rich easier. This has our vote as the finance blog for people who don’t like reading finance. It’s serious bus ride entertainment, with some positive benefits for your wallet.

4. SingSaver.com.sg

This is part finance blog, part toolkit. SingSaver blog posts cover the small but important steps you can take to save money even in tight situations. They also provide a host of comparison tools to lower the costs of your loans, or to filter out the credit cards that are worth applying for. Credit card comparison, as you may know, is critical for getting the best rewards and discounts out of them.

Their blog is also lifestyle heavy, so if you need to save money on drinks or a tattoo, the information you need is lurking here somewhere.

SingSaver probably tops the list when it comes to credit, loans,and banking products – with contacts in many parts of the finance industry, they’re professional snoops and deal finders. So whatever you need from a bank, check out this site first. They may be able to get it cheaper.

5. Mint.com

Another part blog, part toolkit. Mint offers a tracking service for your personal finances, so you can uncover that black hole that all your cash seems to vanish into. They have what’s probably one of the best budgeting apps online, which follows you on your phone and tablet. If this can’t make you save money then nothing else will.

Although the content is non-local, some of Mint’s money saving tips are quite universal. You might want to take an idea from their blog (eg. using balance transfers to manage debt), and then check for a local equivalent on one of the other blogs here.
What are some of your favourite money saving sites? Comment and let us know!

(This article is brought to you by Singsaver.com.sg)

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A (potential) survival guide for the next SMRT crisis

Singapore has always prided itself on being competitive. We thrive and prosper when we stay ahead of competition. To achieve this, the Singapore government has diligently invested large sums of money  and committed significant efforts to various productivity measures and educational initiatives.

One of the noteworthy productivity controls would be the reduction of lean waste, commonly referred to as DOWNTIME, which stands for Defects, Overproduction, Waiting time, Non-utilised or idle people, Transportation time, Inventory surplus, additional Motion to obtain out-of-reach materials and Extra-processing. The practice of lean principles has all along been championed by Toyota, the top-ranking automaker for the third consecutive year.

However, such conventional wisdom seems to have eroded with time when applied to the overall Singapore economy. An inordinate amount of time has been squandered through our increasingly unreliable public transportation system, draining productivity and crippling our competitive economy. Once reputed as an efficient train system in the 1990s, the bread and butter of our economy is no longer a boon but a bane to realising our productivity goals.

Nonetheless, all is not lost. We are still capable of living up to the titles of being the second most competitive city in the world and enjoying the second best quality of life in Asia. All we need is putting the following measures in place to adequately combat the next SMRT crisis, which requires resolve and political will across different agencies.

Image credit: www.thechinatimes.com

Image credit: www.thechinatimes.com

1. Maximise the use of PRIVATE CARS on the road

Yesterday’s disruption of train services on both the green and red lines “stranded” more than a quarter of a million people due to the inadequacies of the existing public transportation system. In particular, the bus and taxi fleets were insufficient to cater to the large crowd of passengers during the peak hours.

This is expected as the bus and cab populations are merely 17,509 and 27,695 respectively according to LTA as of 2013. This means given that the average bus fleet operated is 3,777 and if we assume all the cabs are in commission by individual passengers at a given time, each bus has to accommodate at least 59 passengers, which is not significantly less than the total passenger capacity of a single-deck bus.

Faced with such circumstances, it would thus be wiser for the private car population of 540,063 to pick up the slack. While taxis are profit-driven, private cars are more inclined towards cost-minimisation.  Therefore, for the future rail “disaster”, it would be in the shared interests of both private car drivers and commuters to exchange a convenient ride for a nominal fee. Probably $5 to $10, depending on the length of the ride?

The implementation process is simple. It could be as easy as putting up a sign on the windscreen or using a mobile app or a site to indicate the destination and pick up passengers on the way.

Nonetheless, this requires the exemption of legal hurdles stated in the “Road Traffic (Car Pools) (Exemption) Order 2015” as shown below in times of crises: 

  1. You cannot solicit passengers on a road, parking place or public stands.
  2. The pick-up points, drop-off points, date and payment must all be agreed between driver and passengers before the start of the carpool ride.

2. Switch the DOOR ORIENTATION of public buses

Image credit: www.kyoto-magonote.jp

Image credit: www.kyoto-magonote.jp

 

In Japan, passengers board the back door and alight at the front door. This may seem counter-intuitive at first but try thinking again. Japan is well-known for its legendary public transportation system which is uber-efficient and super-punctual. It is way past due to learn from our equally – if not more – developed cousin in Asia.

With the current door orientation, a common vexation in Singapore is that many passengers are reluctant to move to the rear as much as possible to allow more passengers to be able to board the bus. However, if passengers were to board the back door instead of the front door, they would be able to choose between moving to the fore or the back and thus the passenger load is likely to be more evenly spread out. Fortunately, this is a psychological issue that can be expediently rectified with an engineering tweak.

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Budget-Friendly Ways To Flatten And Tone Your Belly

1. GO FOR CARDIO

Cardio or aerobic exercises aid increases both your oxygen intake and heart rate. This is why it is no surprise that cardio workouts help in sculpting your belly. According to Duke University study, if you want to burn loads of visceral belly fat, go for cardio or aerobic exercises. Furthermore, it burns 67% more calories than resistance exercises.

Also try aerobic kickboxing indoors, as the arm thrusts and high kicks firm the abs well.

2. WALK MORE

Bring walking to your favor by engaging your abdomen while you walk. To do this, imagine a magnet pulling your belly button backward toward your spine as you walk. Practice this tucking movement until you become comfortable. Then, you may invite an exercise buddy or two.

3. CONSUME MORE OF THESE

Eat more of the fibrous foods such as apples, artichokes, pinto beans, and broccoli because your stomach will carry about 4% less fat for every 10 grams of fiber intake daily. 10 grams is not too much if you ask me!

Image Credits: threelayercake via Flickr with Creative Commons License (ND)

Image Credits: threelayercake via Flickr with Creative Commons License (ND)

Additionally, eating half a cup of avocado can help flatten your belly. Avocado contains Monounsaturated fatty acids that stop blood sugar spikes to store fat around your belly area. Friendly reminder: consume more of these foods without overdoing it.

4. CONSUME LESS OF THESE

Alcohol intake raises the cortisol levels, which can lead to sending fats straight to your belly. While the bubbles from carbonated drinks including diet sodas accumulate on your belly too. So, it is best to shy away from alcohol and carbonated drinks.

5. SLEEP AWAY THE BELLY FATS

According to a study from University of Chicago, participants who slept for 7 hours or more lost twice as many fats and are less hungry that those who sleep for a brief hours. Having a good night’s sleep is always beneficial. Check out the “Have A Good Night’s Sleep Without Breaking The Bank” article to get quality sleep and to manage the daily challenges ahead.

6. TARGET EVERY ANGLE OF YOUR CORE

Do quick and doable exercises that target every angle of your core namely: Transversus abdominis, Rectus abdominis, Obliques, and Lower back to Glutes. Doing so will not only give you toned abs, but also reduce the risk of injury and improve your overall posture. Choose one move for every angle. Click here for the illustrated guide.

Alternatively, you may follow this “4 Best Exercises for a Flat Stomach” video that takes less than 7 minutes to complete!

Sources: 1 & 2

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How To Shop On Groupon Like A Pro

Groupon Online Shopping

Call me a penny pincher.

I love to shop and i do so almost every day – that, however, doesn’t seems synonymous with my attitude towards saving money.

How would a stingy person (if you’d like to call it) like myself still have the tenacity to do shopping everyday? And I don’t mean buying groceries but rather spending on a “want” that is not what you deemed as daily necessities. I do my shopping from the brick and mortar shops to online shopping and i never fail to keep my credit card away for a day.

Here’s the secret: I achieved a sense of satisfaction for being able to spot deals and maximize the utility value of my money. I often make advance purchase, say a voucher on Groupon that would allow me to redeem the offer within a stipulated period.

Being a frequent shopper, i would need to make sure i don’t pay more for what is required right? Every dollar saved is a dollar earned.

How does the idea of saving up to 70% or more on a deal sounds? Too good to be true?

Here’s how:

1. Every month, Groupon will usually (well, at least for the past few months) conduct a 3 hour sale where you can enjoy additional discounts of 10 to 20% if you enter an exclusive promo code.

That’s usually the time i spend a few hours on my computer searching Groupon for items that i need.

Wait. Pause and rewind.

(Skip this if you want to buy the CEO of Groupon a cup of Starbucks’s Caffè Latte)

2. Before you even go directly to the Groupon’s website, first create an account on ShopBack. (a website that provide you with cashbacks) Shopback provides you with cashbacks for over 100 online retailers and for Groupon, you have a neat 4 per cent cashback that you can enjoy. All you need to do is to launch the Groupon’s page from Shopback’s website before doing your shopping.

Groupon 4 pc

3. That is not all. You can save even further by using a credit card that provides you with rebates on your purchase. A good one you can consider using is the OCBC Frank Card which allows you to earn a 6 per cent rebate on Groupon.  (There is a $60 cap and you need to make a $500 min spend a month)

ocbc frank card andrea

How much have you saved? Now do your maths.

Using the $49.90 for $100 Cash Voucher for Dim Sum at Wo Peng Cuisine as an example:

Wo Peng

To summarise:

  1. Shop during Groupon’s 3 hour sale and get 18% additional discount. ($49.90 * 18% = $9.00 discount)
  2. Use ShopBack to earn cashback of 4%. (4% * ($49.90 * 0.82) = $1.60 cashback)
  3. Use OCBC Frank Card to make payment (6% * ($49.90 * 0.82) = $2.50 cashback)

Instead of paying $100 to dine at Wo Peng Cuisine, i paid only $36.80 after taking into account of the discounts and cashbacks. That is a whopping 73.2% of savings.

I have already accumulated a few hundred dollars in cashbacks without much effort.

For now, sign up for an account on ShopBack and make use of Groupon’s 3 hour sale from 7 – 8 July 2015 and save up to 18% on Dining, Beauty and Leisure Deals with the promo code: “PROMO18“. Arm yourself with a credit card that gives you the best benefits.

Groupon 3 hour sale 8 July 2015

(This article is contributed by Jenny, a reader of Money Digest)

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Upgrade Your Style By Making Your Low-Priced Clothes Look Voguish

No matter how much fashion and lifestyle magazines clamor over the S$1000 pair of Christian Louboutin heels, the average person cannot afford to have a shoe rack full of it. Fortunately, you can dress up fashionably without having to break the bank! All you have to do is make the low-priced clothing look more expensive. Try these tips:

1. BACK TO BASICS

The old saying is true: “Simplicity is the ultimate sophistication”. This is why you must avoid handbags or clothes that are filled with bargain embellishments or distressed denim patterns. If you want to accessorize, opt for a thick bracelet rather than stacking three little ones to increase the outfit’s impact. Remember: the sleeker and simpler – the better.

2. CHOOSE MONOCHROMATIC

Since splashing yourself with every color on the rainbow can look cheap, wear one color or one shade of color from head-to-toe. This creates an illusion of supreme quality. For example, you can wear the different shades of black, from Jet-Licorice, to look slimmer and fashionable. Although, this does not mean that you will avoid experimenting with color all together. You may suit up with bold pastels or deep jewel tones.

3. CHANGE THE BUTTONS

One of the tricks that stylists do is to replace the inexpensive plastic buttons with pearl or metal ones. You can purchase affordable and beautiful vintage, metal, pearl, and crystal buttons for as low as S$6.93 at Etsy.com.

Image Credits: Erich Ferdinand via Flickr with Creative Commons License

Image Credits: Erich Ferdinand via Flickr with Creative Commons License

4. SELECT THE RIGHT FABRIC

Cheaper fabrics are always obvious especially if there are loose threads hanging on the side. So, prefer pieces that are made with cotton, linen, and tweed. The prices of these materials may be reasonable but they often seem more expensive.

5. TAILOR EVERYTHING

Tailoring your jeans for about S$5-12 is worth every buck as it can transform your S$13 Forever21 jeans into a designer looking one. It goes the same for a tailored blazer or a tailored dress. Aside from having it tailored by a professional, you can save more money by mastering these simple alteration stitches.

Image Credits: Hillary via Flickr with Creative Commons License Attribution-ShareAlike

Image Credits: Hillary via Flickr with Creative Commons License Attribution-ShareAlike

Do not let the tight clothing budget fool you into thinking you’re not Vogue-worthy! 🙂

Sources: 1 & 2

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