Surefire Ways To Nurture Your Child’s Marketing Abilities

The core of your business’ success relies on its marketing. Teach your beloved ones the marketing skills that they needs to thrive throughout their lives!

Do so while you have the luxury of time.

WATCH COMMERCIALS AND OTHER ADS

Children do not have the capacity to carry a stable job nor do they have the ability to budget money. However, they can influence how you spend it. Savvy marketers know this! For instance, expensive products for kids are usually placed in lower rack to meet their eye level. Television marketers focus on producing more content for toys, candies, computers, and so on.

Commit at least once a week to introduce the potent effect of advertising to your suggestible children. Select some commercials or ads to ask the following questions:

a. WHO was the intended audience?
b. WHAT was the description of the product or service?
c. WHY was the ad placed during or between this show?
d. HOW did you feel about the commercial or ad?

KNOW DIFFERENCE FROM REALITY AND FANTASY

Aside from discussing the detailed content of the commercials and other ads, you must create a distinction between reality and make-belief. It is easy to be trapped into the advertiser’s magic, if you do not know what to watch out for. Tell your children that there is more to advertisements than what meets the eye.

Image Credits: pixabay.com

Image Credits: pixabay.com

Discuss the various types of commercials on radio, television, print, and online. Help your children label these said ads so that they become less susceptible to the marketers’ influence.

CREATE CATCHY SLOGANS AND TUNES

Your dedication has led your children to understand the effect of advertisements. To absorb the essential marketing abilities, allow them to make their own catchy slogans and jingles. These activities will help the potential entrepreneurs to use their resources to create significant marketing tools that will make a particular product rise above the pack.

Without valuable customers, even the best businesses will fail. Introducing this topic to your children can prepare them to attract loyal customers for their future businesses.

TRANSFORM THE OLD INTO THE NEW

As you may notice, existing brands are constantly thinking of ways to improve their products and to satisfy their loyal customers. The longstanding OREO boasts with a variety of unique flavors such as Banana Split and Birthday Cake.

Ask your child to apply this idea by putting his or her own spin into a popular product. This activity is a good way to maximize his or her own creativity as marketing heavily depends on innovation.

Image Credits: pixabay.com

Image Credits: pixabay.com

Sources: 1, 2, & 3

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Incredible Saving Tips That You Must Know Before Buying An Engagement Ring

Take A Chance On The Pawn Shops

In a gloomy night in November, my friend proposed to his long-term girlfriend. The surprise does not stop there as they are expecting an adorable edition to their family. Due to the urgency of the situation and his tight budget, he considered purchasing from the pawn shops along the Little India. The varying rates of the rings here are slightly lower than those offered by the chain jewellers. He grabbed this opportunity ferociously!

You see, unlike some Singaporeans, my friend is not superstitious. He does not believe that purchasing a second-hand ring can induce bad luck. It is a surefire way to stretch your dollar if you hold the same perspective as him.

Negotiate With The Craftsman

I cannot deny the fact that going to a commercial jeweler follows a swifter process. You simply have to step inside the likes of “Love & Co.” and “Lee Hwa Jewellery” and purchase a ring right away. However, convenience comes with a hefty price tag. Consider buying personalized rings from local or online craftsman.

Negotiate with the jeweler and ask if he or she is willing to change the settings of your desired ring. Settings include the 4C’s: carat, cut, color, and clarity.

Opt For The Color Yellow

Different hues grace the very essence of the diamond rings. Since colored diamonds are extremely rare, they are priced handsomely. The supply and demand dictates the varying prices of the said fancy colored diamonds. There is still hope for your pocket as the least popular hues are less expensive.

This is why you must go for the most underrated colors such as Grey, Brown, and Orange. Asians shy away from Yellow diamonds due to the common misconception that it does not suit our skin tones. Try out intense and fancy Yellow diamonds first before believing the majority. Do not be too quick to judge!

Use Your Beneficial Card

Subscribing to the “married club” entails costs that exceed thousands of dollars. How often will this happen to you? Well, you better maximize your purchase! Get as many discounts or rebates as possible by charging your engagement ring in your credit card.

For instance, you may use your American Express True Cashback Card. It offers 3% cashback on the first S$5,000 that you spend. And, there is no limit on your earnings. Isn’t that amazing?

Image Credits: pixabay.com

Image Credits: pixabay.com

May these tips help you to save enough money to buy your dream engagement ring. The only thing that you may worry about is your ability to gather your guts in order to ask one of the most significant questions in your life.

Sources: 1 & 2

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Surefire Ways To Waste Your Money As A Parent

Many parents, including my own, are guilty of spoiling their children with affection and attention. They spend money on the things that would make their child happy. Do not get me wrong! This is a normal reaction. However, excessively giving in to these impulses can lead to serious monetary consequences.

Awareness is the first step!

Repair your spending habits by knowing the “Four Ways To Waste Money As A Parent”:

ELECTRONIC ENTERTAINMENT

Back when I was a child, coloring books and sticker albums were all the rage. My friends and I used to compare each other’s collections and artworks. Let us fast forward to the present age. The children of today are utterly obsessed with Smartphone apps and video game consoles. Downloading no-cost gaming apps are okay, but its extras come with costly price-tags. Furthermore, the unit upgrades of video game consoles are insanely rapid.

For instance, the Xbox One may potentially be the last generational console from Microsoft. The renowned brand is looking forward to re-imagining consoles by combining its features with a Windows-operated PC.

DESIGNER CLOTHING FOR CHILDREN

Children can have sudden growth spurts. Thus, it is unnecessary to purchase loads of baby or toddler clothes. This holds true for shoes and socks as well. Instead, you may ask your friends and family members if they still have their kid’s outgrown clothes.

A kid’s wardrobe is both temporary and cluttered. This is why you must not purchase designer or boutique apparel.

SPECIAL BATHROOM PRODUCTS

The people behind children’s bathroom products lure you with the vibrant array of cartoon characters in their packaging. Barbie bath bombs and Angry Birds toothpaste sounds attractive in theory. However, they may contain chemicals that are harmful to your beloved child. Look at the ingredients rather than focusing on the pictures.

If you really care for the well-being of your child, you will take care of his or her health first.

INFANT FORMULA

Breastfeeding is among the most empowering gifts that women can offer to their babies. As much as you can, opt for breastfeeding because it will not only be healthy but also be able to save you as low as S$1,500 per year.

You may also borrow a breast pump from your friends or family members, but ensure that you change the plastic attachments. You can buy those for far less than a brand new pump.

Image Credits: pixabay.com

Image Credits: pixabay.com

Whether you want to throw an extravagant birthday party or to purchase a domestic pet for your child, there are different ways to flush your money down the drain. It is time to make better choices for your family and your finances!

Sources: 1 & 2

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How To Be Financially Ready For Matrimony

My friends and I shared a significant night last Wednesday. You see, we witnessed the proposal that my friend had orchestrated. The only catch was that he intended to get married in two months. The relatively short amount of time to prepare shook everyone. I noticed that their resources were stretched due to the absence of a stable budget. This scenario made me realize how important it is to set the tone of the wedding earlier on.

Take control of your wedding by financially planning at least 6 months ahead. Relatives from both sides are more likely to state their opinions during the planning process. They will feel like they have the right to impose if they are contributing to the costs. Be open to their colorful suggestions, but remember that it is your special day.

Employ savvy steps such as these:

DISCUSS EACH OTHER’S FINANCIAL GOALS

Before tying the knot, one of the first steps that you must take is to discuss about each other’s short-term and long-term goals. Spare a portion of your weekend to openly converse about your thoughts on personal finance. Respect the opinion of your partner to reach a beneficial decision for your wedding and your future household.

Doing so will give you an opportunity to build joint financial goals. Whether you decide to save for a new car or for an early retirement, aligning your goals to a common plan will serve as a good bonding experience.

DECIDE YOUR OVERALL BUDGET

The overall budget can make or break your dream wedding. This is why you must arrange your plans ahead of time. Curate a list of all the items that you will need to purchase. Include miscellaneous and other expenses such as your airfare tickets for the honeymoon.

It is important to stick to what you can afford despite the expectations of your friends or family. For an informed decision, you may use this guideline:

Wedding banquet – 60%
Bridal package – 15%
Wedding ceremony – 5%
Honeymoon – 20%

CONSIDER THE SOLEMNISATION AND OTHER TRADITIONS

What type of customary ceremony do you want to uphold? For example, the Chinese tea ceremony occurs when the couple greets the elders of the family either around or on the wedding day itself. Extra costs may include refreshments and hong baos for the children and helpers.

On the other hand, it is compulsory to register the Civil Marriage at a solemnisation ceremony. The solemnisers are generally volunteers who officiate weddings at no cost. It is advisable to send your gratitude by giving a token or providing a reimbursement for the transportation costs. The ceremony may be held at the Registry of Marriage (ROM). To know more about ROM’s affordable fees, please visit: rom.gov.sg.

BORROW MONEY AS YOUR LAST RESORT

If the wedding that you envision will cost a fortune, consider making alterations. You may even hold the wedding at a later date in order to save money to fulfill your fantasy. A simple and intimate wedding can be great too. Remember that borrowing money shall be your last resort.

If you intend to borrow money, please shop around for the lowest Effective Interest Rate (EIR) on your loan.

Image Credits: pixabay.com

Image Credits: pixabay.com

Lavish venues and luxurious honeymoon are not really necessary for a fruitful marriage. What is more vital is that you celebrate the day with the people whom you love the most.

Sources: 1 & 2

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Confronting Singapore’s Baby Bust With The Baby Bonus Scheme

It does not take a genius to understand how money greatly affects the Singaporeans’ approach to marriage and parenthood. The leading reasons why most Singaporeans are hesitant to make immediate marital or child-rearing plans are related to finances. The country’s population is affected due to these circumstances.

Related Article: Why Many Singaporeans Are Not Tying The Knot

Although last year’s Golden Jubilee ushered about 33,793 babies, our fertility rate remains below the replacement rate of 2.1 (i.e., the rate to maintain the population levels). This is why the Government introduces different incentives to encourage couples to have more children.

Attractive incentives include the parental leave, childcare subsidizes, and baby bonus. This article is going to focus on the beaming Baby Bonus Scheme! It was started in 2001 to provide financial assistance and support Singaporean couples in their decision to raise more children. The scheme is part of the “Marriage and Parenthood Package”, which includes a cash gift and (or) contributions to the Child Development Account (CDA).

You are welcome to avail the Baby Bonus Scheme if your child:

a. is a Singapore citizen,
b. was born alive,
c. was born from lawfully married parents, and
d. was born on or after September 1, 2016 from unwed parents.

After careful examination, you found out that you eligible to reap the benefits of the Baby Bonus Scheme. Congratulations! Remember that it has two distinct forms – the cash gift and the CDA.

The cash gift, as the name suggests, is given in the form of tangible dollars. The purchasing power belongs to you as you can do anything you desire with it. Use it responsibly to cushion the hefty newborn costs. You shall receive a cash gift of S$8,000 for your 1st and 2nd child. While, your 3rd and 4th child shall receive S$10,000 each. This only pertains to babies born on or after January 1, 2015. The cash gift will be given to you within 7-10 working days or after completing the online form.

CDA is a special savings account that can only be opened at the government approved banks. You may use it to shoulder the costs of childcare, kindergartens, medical procedures, and private integrated shield plans. Upon opening the CDA, you will receive the Dollar-for-Dollar matching contributions and CDA First Step grant.

Image Credits: pixabay.com

Image Credits: pixabay.com

The ultimate purpose of the BBS is to provide financial assistance to parents who will help build a brighter future for Singapore. For more information, go to the official website at babybonus.msf.gov.sg.

Sources: 1 & 2

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