6 Helpful Tips To Put A Halt On Impulsive Purchases

As you dig thru the pile of the items that you regret purchasing, you realize that you have one recurring problem. You keep on engaging on impulse purchases! Your credit cards do not seem to help you either. Instead, it invites you to shop more as if it calls out your name.

How can you reduce this tendency to shop without forethought? Well, start by planning ahead.

#1: IT PAYS TO PLAN AHEAD

When it comes to eliminating your unwanted expenses, it pays to plan ahead. Make a list of all the items that you need to purchase before shopping. Make it a habit to plan for upcoming occasions, birthdays, and other large purchases.

Image Credits: pixabay.com

Equipping yourself with this list as you shop around ensures that your purchases are more deliberate and less spontaneous. Furthermore, you may anticipate the upcoming clearance sales and other promotions.

#2: PINPOINT YOUR TRIGGERS

Take control over your shopping habits by monitoring your urges. Using a piece of paper or your handphone’s notes, mark each time you experience the urge to purchase. Describe the situation and the feelings attached to it. This helps you to increase your awareness while you shop.

Be aware of the different symptoms such as faster heart rate or a change in breathing. Becoming more aware of the changes in your body and mind can help you control the urge.

#3: IT TAKES 30 DAYS

You heard about contemplating for 24 hours before committing to a purchase. However, have you heard about the 30-day waiting period? Yes! You read that right. Stick your wish-list on your refrigerator and put a date to each item. You must wait for a month before making a purchase.

The mechanics may sound easy, but it takes a lot of patience and self-control to overcome the urge at first. These feelings are valid and can fade soon. You will take delight sketching out items off the list! The only exemptions to the 30-day period are groceries and other necessities.

#4: AVOID THE TEMPTATIONS

A surefire-way to reduce your impulse buys is to avoid going to shopping areas or shopping websites. Do not even go to dollar or budget stores as you might get trap in the process.

When purchasing, follow a list religiously. Get out as quickly as you can afterwards. Avoid walking around the shopping center for entertainment and find other ways to stimulate fun.

#5: IT IS ALL ABOUT THE BUDGET

Trimming down your expenses does not mean that you have to take out the fun. Give yourself a “splurge budget” that you can follow thru each month.

Decide whether you are willing to allot a budget for a new clothing item or a fancy restaurant date each month. Whatever it is, ensure that you are willing to spend a discretionary amount every once in a while. Take it as a way to reward yourself for straightening your finances. It is healthier that way!

#6: DO NOT MIX WITH THE WRONG CROWD

Surrounding yourself with people who are addicted to retail therapy may not be the best idea. It is easy to get out of track when your shopping buddies convince you that all the outfits you have tried looks great!

Image Credits: pixabay.comIf you want to shop with your friends, do it with people who have savvy spending habit. This way, you will be able to tell spend your money in a frugal manner.

Sources: 1 & 2

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The Top Tattoo Parlors In Singapore

A couple of years ago, my sister came back from work embellished with an artistic surprise. She had a huge “COFFEE” tattoo emphasized with a black ink. You can just imagine the violent reaction of my conservative Asian mother. Fortunately for my sister, she eventually warmed to the idea of having tattoos. Nonetheless, it was an impulsive decision that my sister regretted later on.

Tattoos are permanent markings on the skin etched by inks and needles. Selecting a talented tattoo artist is crucial in the tattoo process. The same can be said in selecting the right design for you. Thus, you must take your time and do your research before booking an appointment.

Whether you have been itching to get a tattoo or just want to try it out, Singapore is filled with talented artists that can turn your dream into reality. You will be proud of these three tattoo parlors.

Image Credits: pixabay.com

#1: FAMILIAR STRANGERS

With a feature on Channel News Asia, you can attest that Familiar Strangers is one of the leading tattoo parlors in Singapore. It is renowned for creating quality tattoos with skillful artists headed by Mr. Whopper Tan. Mr. Tan, the owner, has a good sense of humor. His mere name alone can entice you with either giggles or hunger. This is why clients are more relaxed while being serviced.

Image Credits: facebook.com/Familiar-Strangers-Tattoo-Studio-Singapore-146520875359634

Services at Familiar Strangers include Japanese Irezumi Body Suit, Word Tattoos, Old School Flash Tattoos, and more. You can even customize a design. What’s more? You can have your tattoo revamped when you are not satisfied with the initial service (i.e., free of charge within 60 days). Tattoo prices depend on the tattoo sizes and the difficulty of the designs. However, its minimum fee is around S$100.

Location: 20 Upper Circular Road, The Riverwalk #01-10, Singapore 058416
Contact: +65 9760 4147

#2: IMAGINE TATTOO STUDIO

You cannot simply win “Best in Realism” and “Best in Cover-ups” at 2009 Singapore without proving how talented you really are. That is the talent exuded by Aelvin Lim. He runs the Imagine Tattoo Studio and has been providing excellent tattoo services for more than 7 years. His specialty includes artistically recreating animal and human faces. That being said, you can get the face of your idols inked forever. Whether you want to put your BTS bias or David Beckham’s face on your skin, you can consult the tattoo artists at Imagine Tattoo Studio.

Their services include portraits, tribal art, cover art, and so on. Prices depend on the tattoo’s design, size, and color. Contact Imagine Tattoo Studio at +65 9107 9181 for more information.

Location: 3B Trengganu Street, Singapore 058457
Contact: [email protected]

#3: ALIVE TATTOO STUDIO

Serving professional tattoo services at reasonable prices for more than a decade, Alive Tattoo Studio has become one of the most reliable tattoo parlors in Singapore. Its main draw is the UV Tattoo. Aside from that, it is strategically located at Chinatown and operates daily. How convenient is that?

Much like the two tattoo studios on this list, Alive Tattoo Studio offers a range of prices depending on the tattoo’s design and size. If you want a temporary display of artistic expression, you may consider putting an airbrush tattoo for as low as S$10! Airbrush tattoos are fast drying, waterproof, and easy to remove. These can last from 2 days to a week.

Image Credits: facebook.com/AliveTattooStudio

What I like most about Alive is that you do not have to book an appointment in advance. You may visit them anytime to get a free consultation!

Location: 211 New Bridge Road, Lucky Chinatown #B2-03, Singapore 059432
Contact: +65 6238 5747 / +65 9777 6587

Sources: 1 & 2

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Are You On The Same Page About Money As Your Partner?

As a couple, discussing about finances can be a hard pill to swallow. After all, money is a common source of issue in martial relationships. It is not something you discuss casually without emotional attachments.

Whether you like it or not, being transparent about your finances is essential in building a strong relationship. Talking about money increases understanding and facilitates cooperation as you work on the same financial goals.

You and your partner probably would not get too in-depth about your finances in the early stages of the relationship. As your relationship gets serious, so does your conversations.

Conversations about money often takes places when a couple moves in together. When this happens, do tap the fundamental elements such as your income and debt.

The next step is to decide how you are going to manage your finances as a couple and as individuals. Decide whether you will combine all your finances or keep them separate. The decision depends on your preferences and spending habits.

If you decide not to combine your finances, you need to discuss how you are going to divide the household expenses. Usually, couples prefer to either split things down the middle or to divide the expenses based on their incomes.

You will realize how different it is to be completely on your own financially and to have somebody to help you. Discussing money with your partner will significantly reduce the likelihood of relationship issues cause by finances. Furthermore, you will be able to work out on your financial goals.

Common example of financial goals include paying off debt, saving up for a flat, and being able to retire at a certain age. Goals will depend heavily on where you are at financially.

WORKING OUT THE DIFFERENCES

Handling your financial differences starts with determining what you can agree on (e.g., setting aside some money for travel or paying household bills on time). Let me illustrate it for you as a spender and as a saver. The spender should be allowed some leeway while following a specific budget for disposable income. On the other hand, the saver should be allowed to satisfy his or her needs by putting away some money to his or her own account. Compromise is the key!

Image Credits: pixabay.com

At the end of the day, mutual respect can helps overcome any disagreements about money. You might not be on the same page all the time, but being able to honor each other’s individual needs can sustain your loving relationship.

Sources: 1 & 2

 

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How Do Dollar Stores Make Money?

From ValuDollar to Daiso, how do these budget stores make profits from their extremely low prices? Is it by selling volumes over pricing? Or is it because they offer knockoffs?

Here are several reasons why budget stores can still survive!

#1: NEARING ITS END

The shockingly low prices offered by the budget store might be due to the expiration dates of its products. While S$1 for a liter of soda sounds too good to be true, you must be vigilant when it comes to its lifespan.

You get to purchase a product for an insanely low price and the budget store gets rid of a stock that they would otherwise throw away. It is a win-win situation. This strategy is not limited to budget stores alone. Many supermarkets and bakeries slash their prices as they close for the day.

Minor defects in the packaging may also contribute to the low prices. A small dent on a soap bar or a small tear on a box can contribute to its lower cost. Do not judge the item by its cover! Sometimes, the savings outweigh the appearance.

#2: REDUCING ITS SIZE

There is truth to the saying that size matters. Interestingly, retailers can mask the true cost of their products by changing its sizes. Some dollar store items are small samples sold for a dollar or less. This way, the retailer makes more money with each dollar you spend.

#3: SELLING THE OFF-BRANDS

Have you ever tried the Tim Tam chocolates biscuits from ValuDollar and noticed the significant difference in taste and packaging? I have! Well, this occurs because it is not from the original company itself! You see, dollar stores typically import items from other countries to get cheaper alternatives.

For instance, they may import Tim Tam biscuits made from Indonesia instead of importing it from the root source – Arnott’s Australia. This does not mean that the alternative is fake or inedible. It could just mean that the ingredients used for the off-brand biscuit varies and are typically of lower quality. Do a taste test and compare it to the supermarket’s Tim Tam to see for yourself!

#4: WINNING THE GREY MARKET

What are Grey Market products? For starters, Grey Market products are sold outside the authorized distribution channels by retailers which may have no relationship with the manufacturer of the products. Let us simplify things with an illustration!

Say that a laundry detergent distributor in Singapore sold its stocks to supermarkets such as FairPrice and Cold Storage. However, this distributor has extra stocks. How can it maximize its profits? It reached out to Grey Market dealers to offer its goods at heavily discounted prices. This is why dollar stores can get a hold of the same products and sell it cheaper than the rest!

Image Credits: Flickr Creative Commons via Random Retail

Be a smart shopper! Just because a store has the word “budget” or “dollar” in its name does not mean that you are getting a good deal. In fact, it is likely that you are paying more at a dollar store for certain products that you can find at supermarkets. On the other hand, you must discern whether a product (such as a toothbrush) can be better acquired in a budget store. Keep these in mind the next time you shop!

Sources: 1 & 2

 

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The Hidden Costs Of Owning A Pet

There is a reason why cat and dog videos flood the trending pages of YouTube and Instagram! They are so irresistibly adorable and hilarious. Moreover, these fur buddies serve as the best companions for people of all ages.

Taking care of your beloved companion is nowhere near as expensive as raising a child in Singapore. However, costs go beyond food and shelter. Prepare your funds as we introduce the “hidden costs of owning a pet”…

#1: PET GROOMING SERVICES

Bathing your pet and cutting its nails can only go so far! Whether you like it or not, you cannot simply get away with an at-home grooming kit. Only professionals can properly trim your beloved pet’s fur. This is especially true for dogs.

My aunt owns two dogs – a Cocker Spaniel and a Pomeranian. I can vividly recall when she got a rather disappointing grooming experience from a personnel who trimmed the Cocker Spaniel’s fur too short. She regrets that she did not gave specific instructions beforehand. While most dogs are groomed once every 2 months, these breeds need more maintenance. It is best to discuss your preferences to the groomers. Otherwise, you would waste S$40 to S$70 for small dogs and S$90 to S$200 for bigger dogs.

#2: PREMIUM PET FOOD

As you explore the aisles of the nearby supermarket, you will notice how affordable their selection of pet food is. These brands may be cheap, but are they healthy for your beloved buddy?

Most pet owners switch to premium brands to provide food rich in nutrients. Moreover, some pets may have developed medical conditions that require a change in diet. Switching diets come with a cost!

#3: EXPENSIVE MEDICAL COSTS

As your pet ages, your veterinary bills will undoubtedly shoot up! Your beloved cats and dogs may suffer from the same conditions that aging humans experience. From tumors to epilepsy, your furkid is vulnerable to unexpected veterinary attention. What should you do?

For starters, you can expect to pay around S$20 to S$60 for a basic veterinary consultation. This is why, it would help if you had an insurance policy to back up the costs. Take a gander at these pet insurance policies: My Paw Pal by CIMB Bank, Paw Safe by AIA, and Happy Tails by AON. Choose which policy suits your needs the best!

Image Credits: pixabay.com

HOW TO MAXIMIZE YOUR PET’S BUDGET

#1: ESTIMATE HOW MUCH YOU NEED TO SAVE

The added responsibility of taking care of another being comes with a cost. Estimate the expenses of having a pet by breaking down how much you will need to save per month. For instance, you want to save around S$700 per year to cover unexpected medical bills. Consider saving S$60 per month.

#2: OPEN A SEPARATE PET FUND

A surefire way to separate your personal money to your pet funds is to open up a new bank account dedicated solely to it. Money inside this account is off-limits unless you are going to use it for the benefit of your furkid. Shop around to get the best savings account available in the market!

#3: CREATE A LINE BETWEEN NEEDS AND WANTS

Lastly, you must weigh whether an expense is necessary or not. Do you really need to buy a digital pet tag for your cat? Or, another bed to replace the one you just bought last week? What is important is that you take care of your pet’s health and wellness.

Sources: 1 & 2

 

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