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4 Ways To Stop Your Couple Woes Over Money

They say that love is unconditional, selfless, and priceless. But the truth is, you have to spend money for roses, dinner, or even diamonds during special occasions such as birthdays or Valentine’s Day. And these gifts do not come cheap! The influence of money on the relationship does not stop there. It is significantly present in marriage. In 2012, a study found that the more regular couples argued over money, the more likely they were to get divorced.

There are different reasons why couples have dispute over money. One reason is the opposing views that deeply affect their values to the point that it is hard for them not to be self-righteous in the subject. Although, if both parties truly love each other and are willing to work things out then, they can set their differences aside. Here are 4 helpful ways to stop your couple woes over money…

1. DISCUSS YOUR VALUES ABOUT MONEY

To prevent another issue to boil, understand each other’s view by explicitly discussing your differences on financial issues. For example, if your partner is a saver then, he or she may view money as an important currency that shall not be wasted.

Learn put yourself in your partner’s situation (i.e., spender or saver) by recognizing his or her financial strengths. For example, if you are buying a washing machine. While a saver may lean towards a cheap and used machine, a spender will want a costly and new machine. Compromise by combining the saver’s ability to get a good deal with the spender’s ability to commit to a new purchase.

Related Article: Psychology of Spenders and Savers

2. RELAX AND WRITE

When faced in a situation where you are already frustrated and about to burst, take a step back from those feelings. Avoid blaming or shouting at each other. Instead, write down your feelings or values about money and how you want your money dynamics to change for the better. When your temper is gone, exchange letters to know where your partner is coming from. If you want to break the cycle of feud, you have to work together to a fresh start.

3. PRODUCTIVELY PLAN TOGETHER

Ensure that you will have a productive and open communication on your financial goals and new budget plan. Change can be difficult and you may need to remind each other of your dreams and budget from time to time.

4. ENCOURAGE INDEPENDENCE

Although you have a joint bank account, you may want to have separate bank accounts for your personal finances including buying gifts for your spouse or child. This degree of financial independence can help you deal with the changes better. Keep in mind that you shall still honor the new budgeting scheme and financial goals even if you have a personal account.

Image Credits: Robert Bejil via Flickr

In resolving your money woes with your partner, it is important to keep an open mind. Remember that it is not about winning or superiority, instead it is about understanding your partner’s perspective on money.

You’d Be Surprised At How Much It Costs To Get Pregnant In Singapore

Once you have confirmed that you are pregnant, your mixed emotions will take a while to settle. Then, it is time to prepare for your much-awaited pregnancy. Before you deliver your child, it is vital to determine the costs related to your pregnancy here in Singapore.

PRE-NATAL

Expecting mothers need to visit the OB/GYNs or gynecologists regularly. As a result, you will have to pay about S$60-75 per visit. But to save more, you may take on the maternity package that costs about S$400 in the public hospitals. This already includes charges for consultation and needed supplements.

Routinely care for both your baby and you includes: monitoring blood pressure and weight gain, lab tests for blood and urine, and monitoring your baby’s position, heartbeat, and size. Additional tests include ultrasound and fetal health screening.

PRE-NATAL CLASSES

To prepare you physically and emotionally to giving birth in Singapore, you may join pre-natal classes that cost about S$150-250. These classes will impart knowledge on handling labor pain, post-natal exercises, and nursing for your newborn baby.

DELIVERY AND HOSPITALIZATION

Hospitalization for two days will cost you about S$3,000 in a private room at a private hospital. But, you can lower down the cost significantly by choosing a private room at a public hospital. Aside from the varied hospitalization fees, delivery fees vary depending on whether you have normal or C-section delivery. For normal deliveries, you can give birth with or without epidural. This costs about S$2,000-3,000 and the C-section only costs more.

POST-NATAL

Expect your bills to increase from the minute your give birth. You will have to pay not only for your gynecologist but also for the pediatrician of your baby. Also, you must get your newborn immunized against several diseases. All the compulsory immunizations are free but if you want to save more, then opt for the services by polyclinics.

CONCLUSION

Giving birth to a baby is a lovely experience. Couples may consider it as a miracle that they had dreamt of for long. But the reality is, getting pregnant in Singapore can bring hefty costs. Bills include pre-natal consultation, lab tests, fee for birth certification, baby immunization, baby clothing and accessories, and more. As a couple, you may prepare a minimum of S$10,000.

Fortunately, Permanent Residents and Singaporeans can deduct a percentage of the delivery costs through the Central Provident Fund (CPF) for their first four children. Furthermore, the Medisave Maternity Package allows you to use your Medisave savings to pay for the pregnancy and delivery expenses. Click here to know more.

Image Credits: John Spade via Flickr

How To Get Desirable Deals For Your Wedding

Looking for good price deals that match your budget may seem like an impossible task at times – but it need not be. Wedding planners and other experts such as Robin Weil showed ways to make most of your special day without over spending.

1. BE HONEST

It is best to be honest while organizing your wedding so that the businesses can give you every price options to explore. It is okay to have different suppliers; in fact most couples have seven. Keep your payments on track by having an Excel spreadsheet for it.

2. COMMUNICATE WITH TRANSPARENCY

Fear not if you are going to ask for what you really want. The wedding organizer or the suppliers’ are responsible to give you options and to tell you if your ideal wedding may work on your given budget. Communicate clearly and with transparency.

3. GET FREE OR AFFORDABLE MUSIC

Do you want a live band without the hefty costs? Try hiring students from a music college or an independent band. How about saving on music but still having the power over the song selection? Then, consider free music streaming services and make your own playlist.

4. BE VIGILANT IN VENUE HUNTING

Venues can take up most of the couples’ budgets. Some venues have hidden service charges such as corkage fee (fee for bringing your own beverage or alcohol). So, carefully check the quote and have a written agreement.

5. VALUE THE GUESTS

Before settling for a venue, get the approximate number of the guests and wedding crew. It is a rule of thumb to allot about 25 square feet per guest. And, if you really want to cut down on your budget then, narrow your guest list. Eliminating a table of 10 can save you as much as S$1,400.

6. BE DECISIVE

The wedding crew and the suppliers value their time. To help lower the costs, be decisive and support them in spending minimum about of time to achieve the best results.

Image Credits: Kelly Sue DeConnick via Flickr

How To Teach Your Kids (Aged 3-10) To Be Financially Responsible

Aged 3-5

1. PEOPLE MAKE MONEY BY WORKING

Describe your job to your children. You may even bring them along one in your workplace and give them a tour. Then, introduce this video of a farmer that gets paid for supplying milk. This short video explains the concept of money to children in a simple and animated manner.

2. MONEY IS NEEDED TO PURCHASE THINGS

Like the farmer in the video, he needed money to buy what he wanted. Help your child understand the concept of being able to buy things by identifying items that cost money (e.g., house, car, table, or iPhone) and those that are free (e.g., hugs and kisses from Daddy).

3. THERE IS A DIFFERENCE BETWEEN NEEDS AND WANTS.

When you are shopping with your kid, highlight what are the essentials such as vegetables and fruits. Then, let your him pick the items that are considered as wants.

Tell your child that an individual must wait before buying something he/she wants. Make him realize this by putting money into two jars: 1 for savings, 1 for spending. Ask him to save a dollar of his allowance for savings and a dollar for spending every week.

Aged 6-10

4. IT IS GOOD TO COMPARE PRICES.

Teach your child how to look around the shops first before buying anything in order to get the best deal. In spending money, choices must be made. So, include your child in small decisions to increase their awareness.

5. THERE ARE DANGERS IN SHARING PERSONAL INFORMATION ONLINE.

Discuss to your child how dangerous and costly it is to enter personal information (e.g., address or bank account details) online because someone may steal it. Encourage purchasing online only when you are beside them.

6. INTRODUCE BANKING AND INTEREST.

Describe how the banking and interest works. Savings account will protect your child’s savings and it will also generate more money due to interest. You may open a junior bank account that you supervise. Let your child watch this video to understand the concept better:

5 Eco-Friendly Home Ideas To Save You Money

One of the simple things we can do to help save the environment is to reduce our energy consumption and plant more trees. Little do you know that these things along with other innovative ideas can not only help the Earth but it can also save you a decent amount of money.

Here are 5 Eco-Friendly Home Ideas To Save You Money…

1. USE BLACKLE.COM

Blackle.com is a search engine that is powered by Google Custom Search and created by Heap Media. It helps users save energy consumption because of its predominantly black and grey display. According to Wikipedia, the Blackle’s black screen can save up to 4 mWh of electrical energy consumption.

2. KEEP THE WATER BOTTLES IN

Did you know that a barely stocked fridge has to work harder to stay cold than a fully stocked one? So, put your water bottles inside the fridge to help maintain its efficiency.

Image Credits: Steven Depolo via Flickr

You may also put a water bottle in the toilet tank to displace the water and help reduce water consumption.

3. THRIVE A GREEN THUMB

Instead of purchasing the S$299 branded air purifier, go natural and grow your own succulents.

Image Credits: teresaphillips1965 via Flickr

Plants are more than just decorations as it can improve the air quality in your home by absorbing dangerous toxins. Go for the inexpensive and easy to maintain plants such as ferns, green spider plants, English Ivy and dracaenas. Furthermore, growing your own food is organic at its finest. If you do not have a backyard or an apartment balcony there are community gardens for you to plant your own seed.

4. CLEAN YOUR DUST WITH NO MUSS

Buying a bunch of paper towels and cleaning spray products can be costly. So, use a microfiber duster instead. It is not only reusable but it is also effective. Home Depot sells Microfiber Duster with Soft Grip Handle for only US$3.98 or S$5.39. Just toss it in the washing machine to clean it.

5. CLEAN YOUR COMPUTER

Most of the germs live in your keyboard so it is tantamount for you to tidy it up. Rather than buying cleaning sprays, special wipes that contain chemicals or even buy a new one…turn your keyboard upside down and shake the dirt out. Then swab a cotton tip with alcohol or a double-sided tape to clean between the keys.

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