MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

6 Genius Hacks You Can Use At Grocery Stores

Grocery stores, like any other businesses, are looking for ways to make profit. This is why they have used strategies and psychological obstacles to entice customers to put more items in the basket. Combat those strategies by knowing the genius hacks shared by store employees, food experts, and industry analysts. Here are several of them:

1. BE AWARE OF SENSORY STIMULATION

Imagine the smell of baked breads mixed with the fresh smell of flowers. Very enticing to the senses, am I 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! Furthermore, bright colors will inspire you to purchase more.

2. LISTEN TO UPBEAT MUSIC

Some supermarkets play relaxing music that can help slower down one’s heartbeat and later on lead to more purchases (i.e., about 29% more). An inexpensive way to beat this trick is to listen to upbeat music with your headphones or earphones. Grocery shopping never sound this good!

3. BULK IS NOT ALWAYS BETTER

Consumers think that when they buy something in bulk, they end up having a better deal. But, that is not always true. For example, individual avocados are always cheaper than grouped ones.

Image Credits: pixabay.com (License: CC0 Public Domain)

Be vigilant and analyze the total price first.

4. KNOW THE BEST DAYS TO SHOP

Imagine a crowded supermarket on weekends – the queues are longer and the products are nearly running out. It makes you want to grab more of what you need before the stocks are gone. Researchers examined this phenomenon and they found that consumers tend to purchase more in crowded days because they subconsciously want to be a part of the group. Forget belonging-ness, Mondays and Tuesdays are the best days to shop!

5. KNOW THE BEST TIME TO BUY MEAT

Determine the time when your butcher marks down the prices of meat and purchase accordingly. Usually it is between 8 to 10 am but the timings depend on the operating hours of your local supermarket.

6. TRUST YOUR ROUTINES

Look at your last grocery receipt, chances are, approximately 80% of those items were the items you bought a week ago or the week before. It is good to trust your routines by having the previous receipt along when you shop. With that receipt, you can tell when something is on sale. That is when you must stock up.

Image Credits: pixabay.com (License: CC0 Public Domain)

Shop smarter and save more! 🙂

Source: 1

Wedding Related Items You Should Not Be Spending Too Much On

Weddings are special as they celebrate beginnings and possibilities. And, on these special day one can either splurge their savings or follow a reasonable budget.

On the importance of marriage, I resonate what Barbara de Angelis once said:

“The real act of marriage takes place in the heart, not in the ballroom or church or synagogue. It’s a choice you make – not just on your wedding day, but over and over again – and that choice is reflected in the way you treat your husband or wife.”

The essence of the marriage is highlighted in the loving relationship of the husband and wife from the wedding day and days to come. To be able to live a comfortable life in the following days to come, the couple must follow a reasonable budget and keep some of their savings for long-term purchases such as a house or a car.

1. FAD DETOX AND CLEANSES

Having a toned and sexy physique for the wedding day is at the top priority of almost every bride. And, there is definitely nothing wrong with wanting to look good for the “Big Day”! Although the body is capable of cleaning or detoxifying itself, our unhealthy lifestyle can slow down that natural process – leading one to feel lethargic, unmotivated, and bloated.

But let us face it, detox and cleanses can be really costly. A 3-day detox in a luxurious Yoga studio can cost you about S$400. As you other find ways to reach your ideal body goal, consider these nutritious yet inexpensive detox ideas:

a. Substitute coffee with green tea

b. Drink plenty of water

c. Workout regularly

d. Get quality sleep

Read the full article here.

2. SAVE THE DATE INVITATIONS

Sending personalized wedding invitations to the guests can cost you hundreds of dollars depending on the size of the event. If your wedding is a destination wedding and RSVPs are crucial, a frugal alternative is to make a private group in Facebook (for free) then post the message including your detailed instructions.

Another cheap alternative is to print customizable announcement templates that are available online. I personally recommend the free printable invitations and envelopes from greetingsisland.com.

Image Credits: pixabay.com (License: CC0 Public Domain)

3. DIAMOND RINGS

Since the wedding and engagement are events that happen once in a lifetime, people often rationalize their spending for the diamond rings. Jewelry, in general, is an expensive category in itself. Expensive jewelry plus an emotional event can result to overspending. If you try to spend less, you will feel guilty and cheap.

Thankfully, you can negotiate with the prices by knowing the 4 C’s namely carat, clarity, color, and cut. You may ask the local jeweler if he or she is willing to change the setting of the ring for a discount. That will surely lower down the overall amount.

4. ARTISANAL OR CRAFT LIQUOR

Singapore’s standards for mixology are rising these past few years. In conduction, the companies that offer artisanal or craft liquors are increasing too. If you are thinking of serving these types of liquor at your wedding then, you are definitely splurging!

You can dramatically cut down the cost of the liquor if you hold the reception a private venue, if you serve the venue’s own brand of wine and champagne, and if you instruct the servers to wait before they are asked to refill. Surely, refilling every glass as soon as they are empty and purchasing premium brands will take a tow on your budget.

Image Credits: pixabay.com (License: CC0 Public Domain)

Sources: 1, 2, & 3

Practice One Virtue That Can Definitely Increase Your Savings

As the Japanese Proverb once scribed: “Money grows on the tree of patience.”

Yes! One virtue, practiced religiously, that can definitely increase your savings and even increase the odds of success is none other than: Patience. Why is that so?

1. PATIENCE BOOSTS YOUR DISCIPLINE

Applying patience to overcome instant gratification is important in financial success. If you are an impulsive over-spender, establish a waiting day rule of at least 30 days on any purchases. The new items you have been eyeing on will go on the waiting list. This will not only help you to develop patience but also to help you filter out which ones you need and which ones you don’t.

2. PATIENCE HELPS YOU RESIST THE TEMPTATION

If the temptation of spending is overwhelming, try discussing financial matters to your bank. You may ask them to make automated payments or to put restrictions into your savings account and credit card. Once the convenience of spending is out of sight, it will be out of mind.

3. PATIENCE ALLOWS YOU TO LOOK FOR OTHER OPTIONS

Sadly, in a world that hates delayed gratification, impatience costs people cold hard cash. If you are willing to wait instead of purchasing immediately, you are able to compare prices within other shops and to find cheaper options while you are it. Patience gives you the opportunity to wait for the greatest sales, huge markdowns, and bargain deals that will help you save a lot!

Image Credits: pixabay.com (License: CC0 Public Domain)

4. PATIENCE ALLOWS YOUR MONEY TO GROW

The longer you keep your money, the more you will make of it. Elevation in your wealth each year is possible because of compounding. Compounding is the addition of interest to the principal of a deposit. Read more about the compounding power, here.

5. PATIENCE SHARPENS YOUR CONSCIOUS SPENDING

Patience sharpens and shapes your conscious spending by letting you realize the worth of each item. Ask yourself in the present time: “At my age, what matters to me the most?“

If you are willing to wait for a purchase then, you consider that item as important. And if it is that important…surely…it is worth the wait.

Image Credits: pixabay.com (License: CC0 Public Domain)

Sources: 1 & 2

3 Quick, Easy, And Affordable Meal Ideas Under S$20

Assuming the basic ingredients including salt, pepper, sugar, garlic, onions, and eggs are available at your home, here are the affordable meal ideals you can simply and swiftly prepare for the whole family:

1. CRISPY ROMAINE SALAD

Increase the vitamins absorbed by your body through this low-calorie dish that takes only 15 minutes to prepare.

INGREDIENTS (SERVING 4 PAX)

1 large Romaine lettuce (S$3.50 per 300g at Quan Fa Organic Farm)

2 medium carrots (S$0.80 per 500g at FairPrice)

0.30 cup of mayonnaise (S$2.65 at FairPrice)

2 tablespoons of red wine vinegar (S$6.50 at Delicia)

1 small clove of garlic

1/4 teaspoon salt

1/4 teaspoon coarsely ground black pepper

1 cucumber (S$0.65 per pack at FairPrice)

Image Credits: pixabay.com (License: CC0 Public Domain)

DIRECTIONS

Cut the unpeeled cucumber vertically in half then, cut it horizontally into thin “half-moon shapes”. Then, coarsely chop the Romaine lettuce. Get a huge serving bowl and place your cut cucumber and lettuce there. Afterwards, peel the carrots directly into the serving bowl.

On a separate small bowl, mix the mayonnaise, red wine vinegar, garlic, salt, and pepper well. Then, add this sauce mix to the serving bowl.

2. VELVET SCRAMBLED EGGS WITH HERBS

Give your good ol’ scrambled eggs a twist by adding fresh herbs. This recipe takes a total of 20 minutes to prepare.

INGREDIENTS (SERVING 4 PAX)

9 eggs

1/4 cup of milk (as low as S$2.40 at FairPrice)

1/4 cup of butter (S$3 per 250g at FairPrice)

1 tablespoon minced oregano (S$4.35 per 15g Mccormick Whole Mexican Oregano at FairPrice)

1 tablespoon minced thyme (as low as S$4 at FairPrice)

2 tablespoons of Parmesan cheese (S$5.55 per 125g Kraft Grated Parmesan Cheese at FairPrice)

Chives (follow self-preference)

Salt and pepper (to taste)

DIRECTIONS

Whisk the eggs and milk in a medium bowl for about 1 minute. Melt the butter over medium to low heat in a large sauté pan (preferably non-stick). Then, pour the mix of eggs into the pan and gently stir it with a wooden spoon or rubber spatula. Cook it over low heat.

When the eggs finally lose the “raw look”, put the thyme, oregano, chives, Parmesan cheese, salt, and pepper in the pan and stir these ingredients to distribute. Immediately pour an additional 2 teaspoons of milk to the eggs once it is very creamy and moist. Finally, remove the egg from the heat.

3. CONFETTI RICE PILAF

This is a colorful compliment to any of your chicken dishes. It takes about 30 minutes to prepare.

INGREDIENTS (SERVING 4 PAX)

1 small onion

1 carrot

1 celery stalk (S$1.60 per pack at FairPrice)

1 tablespoon of butter

1 clove of garlic

1 cup of white rice (as low as S$4.95 at FairPrice)

1 chicken broth (S$1.75 per 60g of Knorr Chicken Cubes at FairPrice)

0.25 cup of water

0.25 cup of Parsley leaves (S$3.85 per 7g of Mccormick Parsley Flakes at FairPrice)

1/4 teaspoon salt

1/4 teaspoon coarsely ground black pepper

DIRECTIONS

In a saucepan, heat the butter on medium heat. Add the onion, carrot, garlic, celery, salt, and pepper. Cook and stir all this for 6 to 8 minutes until the vegetables are tender. Add the white rice to the pan then store for 1 minute. Then, put the chicken broth and water into the pan while boiling it on high.

Reduce the heat to low then cover and simmer for 16-18 minutes until all the liquid is absorbed and the white rice is tender. Afterwards, you must turn off the heart but keep it covered for 5 minutes. Fluff the rice with the fork and stir the parsley.

Image Credits: pixabay.com (License: CC0 Public Domain)

Isn’t it incredible that you can make yummy dishes of four servings under S$20? Try it now and enjoy! 🙂

Sources: 1,2, & 3

Aside From Warren Buffett, Here Are 4 Broadly Successful Investors You Need To Know

When you think of “successful investors”, one name comes to mind of most and that is Warren Buffett. With his amazing record, who would not be impressed? But, as time passes there are a few names that stand out in the shadows. Here are four of them:

1. HOWARD MARKS

Number 318 in the Forbes’ 2015 list of United States billionaire, Howard Marks has an estimated net worth of US$2 billion (or S$2.8 billion). Majority of his wealth came from the “Oaktree Capital Management” which he founded. Oaktree Capital Management, an investment firm trading in New York Stock Exchange, focuses on private equity, distressed debt, and high-yield bonds. Furthermore, his book entitled: “The Most Important Thing: Uncommon Sense for the Thoughtful Investor”, was praised by no other than Warren Buffett.

2. WILL DANOFF

Majority of investors have heard of the Fidelity Investments. Fidelity Investments is the family company managed by Edward Johnson III and his daughter. Without him, the world may not have the discount brokerage market that it has today. As Fidelity Investments became one of the biggest discount brokerage firms, they launched Fidelity Contrafund in 1990. Fidelity Contrafund is so huge that US$1 of every US$8 invested in Fidelity’s stock funds goes there.

Image Credits: pixabay.com (License: CC0 Public Domain)

And, the single manager behind Contrafund is Will Danoff. Under his reign, the Contrafund achieved an average annual return of 12.50% despite all odds in its lifetime. Dannoff is truly a very impressive investor.

3. SULEIMAN KERIMOV

From someone who made US$250 (S$355) a month to a multi billionaire, that is the inspirational financial story of Suleiman Kerimov. He started to work as an accountant for an electrical plant. To illustrate his previous uncomfortable situation, he and his wife used to live in the workers’ hostel attached to the plant. He made a transition into banking and found his initial investment grow rapidly. With this, he added even more investments. And, the rest was history.

4. JOE ROSENFIELD

An investor whose returns were better than Warrant Buffet’s deserve a spot on the list. And that is no other than Warren Buffett’s friend named Joe Rosenfield. If you are a fan of the Silicon Valley, he is also a good friend of Robert Noyce. Joe Rosenfield is an American businessman who is best known for transforming his US$11 billion (S$15.64 billion) into US$1 billion (S$1.42 billion) for the endowment fund of Grinnell College.

He has an undeniable talent for determining top investment opportunities such as the Sequoia Fund back in 1977. But, his heart still resides in Grinnell College wherein he created a Rosenfield Scholarship that helped students pay for their Grinnell education. Now, that is a great way to give back!

Image Credits: pixabay.com (License: CC0 Public Domain)

Sources: 1 & 2

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