Marriage & Family Archives | Page 65 of 81

Sensible Strategies To Split Expenses with Your Partner

There is truth to the idiomatic expression – “it takes two to tango”. With a relationship that spans for nearly a decade, I came to realize that giving and taking is an essential element to success. Arriving at an agreeable place avoids potential conflicts from rising. Compromise is vital when it comes to financial matters.

Who would be primarily responsible to pay the bills or to account for outstanding debts? Use the following strategies to help you split the expenses.

STRATEGY #1: DOWN IN THE MIDDLE

Living together entails the discussion of bills, loans, and other expenses. The most concrete way to divide an expense is to split it in half. From groceries to rent, you may share the household responsibilities by contributing an equal amount of money.

Keep track of your purchases and bills by creating a document or a spreadsheet file. You may want to consider setting a monthly price threshold to avoid conflicts.

STRATEGY #2: SET A PERCENTAGE

If you and your partner belong to similar salary divisions, the first strategy is beneficial. However, it can be difficult to split everything by 50-50 if you belong to both ends of the salary spectrum. Contributing S$1,000 per month to the household expenses may mean nothing to you. While, it can mean everything to others!

One of the most sustainable ways to conquer this situation is to contribute a certain percentage of your income. For instance, you can agree to allocate 30% of your income towards household expenses and other miscellanous. Both parters will be paying the same percentage to other expense categories such as utilities and transportation.

STRATEGY #3: TOGETHER AS ONE

Some couples prefer to establish a joint account with a foundation of trust and mutual understanding. With this account, you may allocate a percentage for entertainment. Entertainment includes funds for hobbies as well as vacations. Maintaining an account to fund an expensive vacation allows you to team up to achieve a common financial goal.

Motivation is elevated as you work together. Furthermore, your dual streams of income widens the resources for your funds.

STRATEGY #4: TOGETHER YET APART

Another strategy that can be just as effective is separating the expense categories based on one’s financial capacity. You will be responsible to pay for specific bills from your own account or savings.

Under this strategy, each person remains their individual bank accounts and identifies which expense they are responsible for. According to Andrea Rizk, the founder and CEO of of Risk Public Relations, this arrangement maintains maximum financial independence.

Image Credits: pixabay.com

At the end of the day, you must choose a strategy that works well with your personalities and relationship dynamics.

Sources: 1 & 2

4 Budget-Friendly Halloween Events For The Entire Family

Halloween in Singapore is nothing but SPOOKTACULAR!

Embody the festive spirit without breaking the bank by searching for free or affordable activities within your community. You will not believe how many there are out there!

1. NIGHT AT THE MUSEUM

Immerse yourself in a world where Asian superstitions and beliefs come to life as Asian Civilisations Museum brings you the “Horror Mash Up”! This annual event includes activities and performances inspired by their stellar collection. Expect to hear haunting tales, to strike eerie poses at their dress-up booths, and to make your own spooky souvenir. Activities will run from 7:00 pm to 11:00 pm while the museum operates until 12:00 midnight.

This FREE event, ideally for your teens, is set on October 28.

Location: Asian Civilisations Museum, 1 Empress Place, Singapore 179555

2. TRICK OR TREAT

No Halloween celebration is complete without “Trick or Treat”. A massive gathering awaits at Woodlands Woodgrove. With your costume, you can roam the neighborhood from 5:30 pm to 8:00 pm (or until the treats run out). Kids of all ages along with their parents will come together to make the most of this day.

Do not forget to mark your calendars on October 31! Joining the exciting event is free, but you can donate to its sponsors.

Location: Woodgrove Neighbourhood (refer to the map)

Image Credits: streetdirectory.com

3. LITTLE MONSTERS’ PLAYGROUP

Are you looking for an event that lets you bond with your adorable ones? Look no further as Australian International School brings you the “Halloween Playgroup”. Toddlers to children aged 5 are all welcome to dress as magical and mystical creatures. The activities lined up for your little (and beloved) monsters include dancing, games, and storytelling. If these sound fun to you, book your spot here!

This FREE event is scheduled on October 17. Registration starts at 9:00 am.

Location: Australian International School, 1 Lorong Chuan, Singapore 556 818

4. FOR MOMS AND BUBS

Shine in your most creative costumes with your baby to win attractive prizes from Bove! Bove by Spring Maternity’s “Halloween Dress-Up Party” includes the following highlights:

a. Tea Party with Popcorns & Cotton Candies
b. Photobooth experience with instant printouts
c. Crowning of the Best-Dressed Halloween Baby and Toddler, as well as
d. Goodie bags from the event sponsor.

This is the only event on this list that lets you pay for the admission, but fret not. Ticket are sold at S$5 each. Oh! Babies 12 months and below are free of charge.

Location: 3 Temasek Blvd, #02–728/729/730, Suntec City Branch,Tower 4, Singapore 038983

Image Credits: pixabay.com

Sources: 1 &2

6 Money-Saving Tips For All Supermoms

ACCEPT THE PRELOVED

Until the credit statement arrives on your doorstep, you may have no idea about the money you spend on clothing and baby items. Cushion the expenses by embracing the hand-me-downs offered by friends and family members. Accept the toys, home accessories, and maternity items.

You can always donate the unnecessary items on the block’s donation drive. Doing so will not only help you declutter, but it will also help the ones in crucial need.

FILL THE PANTRY

Juggling the corporate and domestic life is challenging. Due to the limited time, you may either frequent the grocery for last-minute shopping or the nearby restaurant for take-out meals. A healthier solution is to keep a well-stock pantry. Purchase items that will last the family for at least a week.

As Holly Clegg, culinary expert and food author, once said: Think of a well-stocked pantry as a permanent shopping list. This tip will enable moms to cook more meals efficiently, timely and more affordable.”

Image Credits: pixabay.com

LEAVE YOUR MONEY

Are you planning to hangout with your buddies any time soon? Consider bringing the exact amount that you are willing to spend and leave the rest at home. Suggest affordable yet entertaining activities such as art appreciation (e.g., roaming ACM or SAM) and game night (e.g., themed dinner at someone’s home). If your girl friends insist on shopping, you will not be tempted to purchase anything that you cannot afford.

Do you really need those tempting items anyway? I do not think so!

LISTEN TO OTHERS

I can vividly recall the time I was strolling the mall with my significant other. My feet were sore due to the high-heeled shoes that I opted for. Brought by strong emotions, I would rather purchase a new shoe that I do not need than to tolerate the pain. We visited a store that I previously ignored. Then, my partner reminded me that none of the products appealed to me last time I was there. The collection did not change. “You only like this because of the momentary use and not because you will use it again”, he said. He made a fair point! I saved a decent amount of money that day.

Listen to the opinions of other people who care genuinely about your financial future. Tally your monthly savings to remind yourself and your spouse about your recent accomplishment. Use this as a motivation to go further.

GIVE THEM ALLOWANCE

A sizzling topic among Singaporean parents is whether or not children shall receive allowance at such a young age. Some parents are concerned about the wastage of money on ridiculous items, while others want to cultivate financial responsibility. Bekah Jorgensen (blogger of Mother Moment) highlights the advantage of giving an allowance as it “sets a policy that if they want something that isn’t a need, they buy it themselves or wait for the next gift-giving holiday.” Children are empowered to save their money to buy what they want.

Furthermore, it avoids the embarassing tantrums in store and the impulse purchases that comes with it.

PROTECT YOUR INDIVIDUALITY

Who knew that you will become a devoted mom further down the road? Well, life is unpredictable. You will never know which turns will come next. You just have to make the most out of what you have and exhaust all your resources. Speaking of resources, it is best to keep your own personal account. This account will help maintain your financial autonomy and support your spouse’s credit history.

Image Credits: pixabay.com

For significant commitments such as a car or a flat, you will have to work together to pay the loans. Having two streams of account will help speed up the process.

Sources: 1 & 2

7 Unconventional Ways To Save Money On Your Wedding

1. Concretely visualize your wedding day and the events leading up to it by writing a narrative. Doing so allows you to enumerate the possible expenses that you will incur. Keep this narrative in mind when making your budget.

2. Whether you want to believe it or not, the “fake cake” was one of the hottest wedding trends in 2015. Purely made for show, the fake cake consists of a tier of real cake while the rest is made of styrofoam. This alternative looks just as elegant, but for the fraction of the price. Simply serve the (plain) supplementary cake you have kept in the venue’s kitchen.

3. My previous experience in the wedding industry thought me one thing – prices for products and services surge up when you attach the word “wedding” into it. Try omitting this keyword when searching for items online. A simple cocktail dress costs around S$20, but a wedding cocktail dress may cost twice as that. Some brides have gone to the extent of calling their wedding a “big party” when booking suppliers!

4. It comes as no surprise that many people around you are genuinely excited for your the big day. Ask your relatives, friends, and colleagues for help. Help is not limited to ang pow or red packets! It can be as little as borrowing their punch bows or as huge as taking your prenuptial photos.

Image Credits: pixabay.com

5. The crucial elements of a wedding includes the banquet. Spend less money by opting for bigger tables that need fewer tablecloths and centerpieces. Speaking of centerpieces, you can reduce your spending by sticking to one kind of flowers.

6. As a sign of gratitude for their participation, couples usually send gifts to their beloved guests. Unleash your creativity without damaging your wallet by making your own wedding favors. One option is to purchase small jars, fill it with jellybean, and wrap it with a bow. Another option is to bake your own dessert and package it well.

Image Credits: pixabay.com

7. When money is still tight after exhausting all your resources, consider the power of crowdfunding. Crowdfunding is a means of sourcing out money from a large number of people. You may recall the time when famous blogger Bong Qiu Qiu (or Budget Barbie) crowdsourced her legal fees. What is nice about crowdfunding websites is its ability to display how far you are from your monetary goal.

Sources: 1, 2, 3, & 4

How Expensive Is It To Tie The Knot In Singapore?

As the chapter of your singlehood comes to a close, the celebration of your dream matrimony draws near. It does not matter whether you came from a developed country or not! Weddings are deemed to be hefty in all parts of the world. Adding Singapore’s economy into the mix makes it more complicated for your budget.

Let us start with the standard cost of a wedding in Singapore. It is difficult to synthesize information dating back from the previous decades. So, I shall focus on the average costs of the main wedding elements. Said elements include the wedding rings, banquet, documentation, and bridal package. Your union can cost somewhere around S$30,000 to more than S$100,000 depending on how simple or extravagant the celebration is.

THE SHINY RINGS

The roundness of the ring symbolizes infinity – to which there is no beginning or ending. Its eternal nature signifies the pureness of love. Sorry to burst your bubble but, purchasing jewelry does not stop after you find the “perfect” engagement ring.

You still need to search for wedding bands to exchange on your special day. Do not let these simple rings fool you as these costs between S$1,000 to S$3,000 each! Rates can go up depending on the material of the ring and the precious stones encrusted in it.

THE SCRUMPTIOUS BANQUET

A wedding banquet holds a major chunk of your wedding budget. Our “foodie culture” is one of the reasons why it is significant. We can all agree that feasting is one of our favorite pastimes. Thus, more creative menu and fancier venue customization had been available to us.

Generally speaking, a weekday wedding banquet with 300 guests can take you back by S$30,000. Why is this so? You see, the average price per plate is around S$100 for weekday lunches and S$127 for weekend dinners. Further research highlights that local banquets range between S$50 to S$235 per person. Your food expense can go as high as S$70,500 for 300 guests and as low as S$10,000 for 200 guests. The more intimate the banquet is, the more savings you will have. Perhaps the only consolation of having a bigger guest list is the volume of red packets that you will get.

Image Credits: pixabay.com

THE MEMORABLE DOCUMENTATION

Early this year, we welcomed a new member to our family. We exhausted our resources to find the best suppliers that were within the couple’s budget. They ended up with a company that offered a package for videography and photography. In other cases, it is cheaper to look for different photographers and videographers.

Prior research is recommended before signing a contract. You may start with the top results when you Google search: “Wedding Photography Supplier Singapore”. Then, compare the prices with the local suppliers nearby. Expect to spend around S$2,000 to S$4,000 on documenting the momentous occasion.

THE STAR OF THE SHOW

The blushing bride usually steals the show! The last wedding that I attended involved the bride changing into three distinct dresses. Having several gowns tailored to your onetime use is undeniably expensive (and possibly unnecessary). This is why most brides in Singapore prefer the “bridal package”.

A bridal package includes a photo shoot, the hair and makeup, and some rented gowns. This convenient package costs about S$3,000 to S$6,000. The price depends on the range of gowns and the location of the photo shoot. You may opt to have your wedding album taken in premium spots such as the Eiffel Tower or the Sydney Opera House.

Image Credits: pixabay.com

You cannot deny it! A wedding involves an incredibly long list of expenses. Before shelling out a fortune, you must organize your expenses. Budgeting will help you align these expenses with your priorities. Best wishes!

Sources: 1 & 2

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