How To Save Money On Last-Minute Travels

It has been a while since my significant other and I traveled together. For the first time in a long time, we shall be booking an overseas trip at the last-minute. With two weeks to spare, we need to find ways to stretch our dollar.

Conventional wisdom states that you must book months in advance to save money. Last minute purchases usually lead to expensive airline tickets and lodging arrangements. However, this is not always the case.

#1: BE FLEXIBLE WITH YOUR DESTINATION

Since you are being spontaneous, consider letting the deals decide your destination. Let the fate guide you! Who knows? You may be in Haiti for less S$200.

If you do not have your heart set on a specific place, you may go to websites that enable you to check the best travel deals. For instance, Kayak Explore is a great tool to see which countries offer the best deals at a variety of travel dates.

#2: BOOK A LATE TIME-SLOT

Use the scarcity of time to your favor by booking really late. Interestingly, you may score the cheapest flights by pushing your booking way back. The closer the date, the more desperate airlines are in trying to fill the plane’s capacity. Go big or go home, right?

#3: SEARCH FOR FAVORABLE EXCHANGE RATES

One way to maximize your dollar is to compare the Singapore dollar to the rest of the world. If you are eyeing a trip abroad, you may look for a destination with favorable exchange rates. Which local currencies are weaker compared to the Singapore dollar? Perhaps, there are countries experiencing momentary economic instability or other conditions that decline their currency values. Consider traveling to these countries.

#4: OPEN THE INCOGNITO MODE

Keep your searches in private. When you surf the Net in Incognito Mode, your browser does not collect cookies. This means that third parties cannot identify the website you have visited before. Without the ability to track your movements, travel websites will have a harder time guessing your intentions. You see, these websites tend to raise prices to people who are not on “private” mode.

Another option is for you to use a VPN or a Virtual Private Network, which will conceal your geographical location and encrypt the data you send.

#5: PACK THE LIGHT ESSENTIALS

Make minimalist packing your lifestyle by traveling light. No matter how long you plan to be away from the country, it is best to pack no more than a week’s supply of fresh clothes. Packing light basics and weather-appropriate gear ensures that you save money and space.

Do not forget other essential accessories such as travel-sized hygiene items, chargers and USBs, power adapters, and padlocks.

#6: BE FLEXIBLE WITH THE TRAVEL DATES

Aside from the destinations, you can save more money by being flexible with the travel dates. People travel less in these unconventional days. Traveling in the middle of the week is cheaper than traveling towards the end of the week. You will get the best deal by flying on a Tuesday and leaving the following Wednesday as compared to flying on a Friday and leaving next Sunday.

Image Credits: pixabay.com

Keep these tips in mind the next time you book a last-minute flight! ?

Sources:1 & 2

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How To Sell Your Items Beyond Facebook

Put your entrepreneur shades on and climb into a new terrain – the online business. It can be difficult to navigate, but every new venture presents its own challenges and opportunities.

#1: IDENTIFYING YOUR TARGET MARKET

When your product or service is solidified, research on the target market you aspire to tap. Identifying your target market and competition can help you decide the branding, pricing, and marketing strategies. Your website’s design must be attractive to your potential clients.

For instance, you are planning to sell sportswear. You may focus on several sports groups or teams in Singapore by joining running events or swimming meets.

#2: PICKING AN E-COMMERCE PLATFORM

Choosing the right platform is just as important as the product or service you sell. Ensure that you sign up for an all-in-one solution that allows you to showcase your items and to sell it thru a shopping cart software. This way, you would not need to hire someone to code your transactions. Consider these platforms:

A. Instagram

If you are looking at the contemporary scene whereby Millennials and Centennials frequent, consider opening a shop in Instagram. It is the perfect platform to sell clothes. Furthermore, there are no fees to list your images and there are no companies that will take over your prices. You are the boss!

Create a separate Instagram account with flat lay pictures to showcase your items. Then, put hashtags like #clothessingapore, #sgblogshop, #shopmycloset, #instacloset, #instasale, and #clothesforsale. These tags will help potential clients find your profile.

B. Craigslist

For local selling that goes straight to the point, try posting in Craigslist. This website may not look as flashy as other marketplaces, but it is reliable. It will connect you to buyers using your own terms. It is free to list and sell. Just meet up with the buyer to complete the transaction.

Simply look for the category that you are eyeing for and list the item you want to sell. People are attracted to Craigslist due to its simplistic nature.

C. Etsy

For people who love to sell artistic homegrown goods, they go to Etsy. It is one of the biggest online platforms across the globe, which houses unique and quirky products.

I often go to Etsy to search for craftsy items that my friends will be delighted to receive as gifts.

#3: CREATING YOUR ONLINE STORE

The final step is to build your online store. Customize a theme that will attract your clients. Follow your branding. You may also set up folders or categories for each item you upload. Put as much information as you can.

Image Credits: pixabay.com

Lastly, you may assign shipping and payment methods to ease the process. Consider websites that allow you to build a page for free such as wix.com.

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Financial Benefits Of Having A Second Job

For the longest time, moonlighting was seen as a means to take on extra work in order to supplement one’s full-time employment. It was exclusively for underpaid employees or those who are severely strapped for cash. Nowadays, moonlighting and having a second job are seen as acceptable means to expand one’s income without the weight of stereotypes.

Having a second job does not only expand your wallet, but also maximize your skills and talents. Many employers are open to the idea of giving their employees the freedom and flexibility to take on other jobs to keep up with the rising cost of living. To illustrate, combining your full-time job with a 20-hour per week sideline can pull in a greater income. You may also combine two part-time positions to get an income that will equate to a full-time position while working for less hours per week.

That is just the beginning. The following are other benefits of having a second job.

LESSENING YOUR TRANSPORTATION COSTS

Four years ago, I juggled my work as an enrichment teacher and as a freelance writer. As a teacher, I needed to travel three to four times per week around Singapore. While, my job as a freelance writer brought me to the comforts of my own home.

If your second job is either at a home office or at a place near you, you will be able to save more money on transportation costs. This situational advantage can help you shave dollars on monthly petrol consumption or EZ-Link top-up.

OPENING NEW JOB OPPORTUNITIES

We cannot fully guarantee that the economy will stay the same in a few years time. Say you lost your job. If you are running out of full-time job options, you may try your luck in several part-time employment positions that can eventually turn into a coveted full-time slot. After all, it is more cost-efficient for an employer to hire individuals who are already trained than to hire individuals who are unfamiliar with the field.

When given the chance to partake in a team as a part-timer, show how eager you are to know the tricks of the trade. Volunteer your time and exhaust your energy as much as possible. Do not waste the opportunities given to you.

GIVING MORE MEANS TO PURSUE OTHER ACTIVITIES

Freedom – is easier said than acquired. Experts say that people who have second jobs or second careers have a higher sense of freedom such as the feeling of not being shackled to one company. Furthermore, practicing in a different field gives you a financial cushion in case the economy becomes sour towards your other career.

Having a second job gives you more freedom to pursue other activities that will showcase your skills. If you are thinking of switching careers and want to minimize the risk, take on a part-time position that will enable you to test the waters. For those people who lack prerequisites or academic credentials to pursue their dream job, a part-time position may serve as a stepping stone that provides free training and meaningful experiences. While, others may use part-time positions as a means to climb the ladder within an existing field. For instance, a teacher may obtain an entry-level part-time work in order to finance his graduate studies. Further education will land him a more lucrative job in the field.

Image Credits: pixabay.com

It is up to you to find ways to maximize your income and make the most out of your second job.

Sources: 1 & 2

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How P2P Lending Works In Singapore

BY DEFINITION

P2P Lending, short for Peer-to-Peer lending, took off in 2005. It sprung due to many companies’ efforts to deviate from the financial institutions that let them borrow money. Borrowing from banks took about two to three years’ worth of records. And, many companies do not have the luxury of time. Instead, they turn to the Internet for help.

P2P websites allowed private people from around the world to lend money to various companies. For instance, you can lend S$100,000 to a company requiring money for an expansion. In return, you will receive repayments with interest from the company. P2P lending is very attractive to lenders due to the extremely high interest, which is up to 20% per annum.

SINGAPORE: THE ASIAN CENTER

Singapore reigns as a the Asian center for P2P lending due to being a regional hub for trading, a safe storage of precious metals, and a well- established economy. Singapore is appreciated for its direct approach to lending and borrowing as supervised by the Monetary Authority of Singapore. It even issues promissory letters.

Moreover, Singapore has a cash-intensive economy where a great deal of lending happens outside of the banking system and inside of the online platforms.

HOW TO START LENDING

Take Part In A Larger Portfolio

A well balanced portfolio has a mix of low-risk assets and high-risk assets. By nature, P2P lending is a high-risk asset that invites high returns. It can be used to offset the low returns from your conservative assets such as fixed deposits or Singapore Savings Bonds (SSBs).

Seek help from a qualified wealth manager to balance out your portfolio. As a rule of thumb, experts suggest that high-risk assets should not take more than 15% of your portfolio.

Invest On What You Can Afford To Lose

One of the leading advantages of investing in P2P lending is that you can take on small amounts. You can have various investors pitch small amounts of S$1,000 to fulfill your business goals.

Limit your potential losses by investing only what you can afford to lose. Do not gamble your savings away! Any amount that you cannot recoup within two months is too much.

Spread Out Your Investments

Try not to bury your eggs in one nest. As much as possible, choose to spread out your investments in a list of companies found in a P2P website.

If one company fails to repay you, the rest can do better for your account. It is less likely that every company you chose will fail to repay you. Furthermore, a company may repay you less for a long period of time. You have to get some cushion.

Sources: 1 & 2

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