Practical Strategies To Beat Inflation

Inflation is a sign of a healthy economy as it shows that the country’s wealth is growing. During inflation, you will experience periods of price surge. This is the perfect time to be more conscious of your spending. Do not worry! Inflation rates will eventually taper after several months. When this happens, your wallets can have the sigh of relief!

Ultimately, here are some strategies that you can employ to beat the inflation.

LET YOUR MONEY WORK FOR YOU

Let’s face it! To outpace inflation, having a high-interest savings account or long-term time deposit is not enough. Consider sparing some of your money to investment options that are safe to grow in spite of inflation. I am referring to asset classes such as mutual funds or pooled investments. Nowadays, many financial institutions in Singapore offer mutual funds at friendly rates. Read this article to learn more.

SLASH YOUR TRANSPORT COSTS

The Singapore government has declared this year as the Year of Climate Action. Take a page out of this initiative by getting on board with the public transport. You will not only save money by taking the bus or the MRT, but you will also minimize the carbon footprints.

Image Credits: pixabay.com

People who own cars spend around S$2,600 per year on petrol. Not to mention, there are other accompanying costs of car ownership such as parking and road tax. Taking public transport could diminish your costs significantly! Use your extra money to combat the price surge due to inflation.

CULTIVATE YOUR EMERGENCY FUND

An emergency fund is an account for funds set aside in case of events brewing from personal financial dilemma (e.g., loss of a job or having critical illness). When inflation rates elevates, your emergency fund becomes an added cushion to cover the sudden increase in the prices of goods.

It will keep you secured until you can adjust your budget. Experts recommend that you build an emergency fund covering your expenses for at least six months. If you have a family, then covering nine months’ worth of expenses would be a better target.

HUNT FOR GROCERY DEALS

A major chunk of our expenses is allocated to food. Whether you like it or not, inflation affects all goods differently. For instance, the cost of food rose faster than the general rate of inflation between September and October 2017. This price hike held across all types of food, from dairy products to vegetables.

Image Credits: pixabay.com

To get the best prices on food, you may use price comparison websites (e.g., diffmarts.com) or use online coupons. Spot the latest deals to bring down the cost of your basket!

Sources: 1 & 2

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Celebrate These “Small” Financial Achievements

Do not underestimate the strength of your “small” wins. These are pivotal to tracking incremental achievements and working towards larger goals. You see, most financial goals (e.g., purchasing a flat or saving for retirement) can take a long time to achieve. It can be too intimidating!

Breaking your goals into finer pieces can help you visualize your financial path. What’s more? It can motivate you to work harder.

#1: MOVING INTO YOUR FIRST FLAT

Living alone can be challenging in the first few months. However, nothing replaces the feeling of independence that comes from cultivating your own place. You are free to march to the beat of your own drum – within the bounds of the building management or the landlord. Sometimes, it can get lonely to live by yourself. Your bravery to take the plunge is an accomplishment on its own.

#2: PAYING OFF YOUR DEBTS EVERY MONTH

Along with growing your wealth, you must diminish your mountain of debts. Start spending and saving wisely to cover your monthly balance per month. Are you capable of paying it fully? If so, then consider doing it. Nonetheless, contributing a significant amount to your debts will enable you to maximize your retirement contributions.

Image Credits: pixabay.com

Think about that!

#3: GETTING A PAY RAISE

Words cannot encapsulate the wonderful feeling of being recognized and paid for one’s hard work. We are quick to press the “Like” or “Heart” button on Facebook whenever someone announces his or her promotion. It is a celebration indeed! But, remember that you do not have to wait for your coveted moment to begin celebrating. Every pay raise counts! Pour yourself a well-deserved drink and bask in the glory of your accomplishment for a night.

#4: INVESTING IN YOURSELF

Whether you are advancing your degree or continuing your certification in the field, you will more likely to increase your earning potential by receiving further education and training. Not to mention, you will widen your network and knowledge in the process.

Image Credits: pixabay.com

Increasing your professional value by investing in yourself can ignite your ability to achieve long-term independence. Hence, I encourage you to set some money and time this cause.

Sources: 1, 2, & 3

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Maybank Launches a New Concept Branch

Bank comfortably in the heart of Orchard Road as Maybank launches its first concept branch that combines café with modern banking services.

If you have ever felt apprehensive at the thought of paying the bank a visit due to its long queues and large crowd, Maybank’s new concept branch – MSpace at Maybank, may change your mind. Fusing lifestyle with banking, Maybank has teamed up with Mellower Coffee to provide visitors instagrammable coffee, while they engage in banking services with Maybank.

The first floor of MSpace at Maybank houses a regular banking branch and Mellower Coffee’s café space, where Maybank plans to experiment with new ways of customer engagement and innovate on banking services. Café and banking customers can browse the MSpace at Maybank App to discover more financial needs. The mezzanine floor above is a premium lounge for Maybank Private and Premier clients; making it the go-to place for anyone who wishes to consult a banking advisor regarding their personal or corporate financial matters.

Here are a 5 reasons why you should visit MSpace at Maybank for your banking needs.

1) Location

MSpace at Maybank is a Café cum Bank located at a convenient location in the heart of town – Orchard Shopping Center, next to Somerset 313. This location may ring a bell for some of you as it is located at where the previous famed Korean dessert shop, Ice Lab Café was. The location is easy to find and accessible by public transport, making it an ideal place to chill and make banking transactions.

2) Experience A Lifestyle Approach To Financial Conversations

For some, waiting for your turn at the bank may be daunting, but at MSpace at Maybank, you may actually want to wait. Visitors who wish to consult on financial matters can simply grab a seat and order your coffee first as you wait for your turn. To fill up your time instead of waiting aimlessly, feel free to use the iPads provided to browse the web, or enjoy the contents on the TV. For simple consultations, enjoy your food and drink while discussing your financial needs with a Maybank staff.

This branch also houses a learning space where Maybank teams up with knowledge experts to organise free thematic workshops for bank clients and the public on Friday evenings and Saturday mornings. The upcoming schedule includes a will and estate planning talk, investment talk on market outlook, and even coffee workshops!

3) No Hard Selling

Most of us hate the idea of hard selling and when someone pushes you to buy something you do not need. At MSpace at Maybank, customers can choose to browse Maybank’s products or even apply for a Maybank credit card within the MSpace at Maybank App, with no one stressing or pressuring you on your decisions. For more complex matters like financing to investment portfolio or even retirement planning, you can get a queue number and speak to a Maybank staff in one of their private consultation rooms.

4) It Covers All Aspects Of Your Banking Needs

If you are not sure what services MSpace at Maybank offers, rest assured that they cover all areas of your financial matters. Maybank customers can do their regular banking at MSpace at Maybank and there is even a 24-hour auto-lobby with 4 multi-function ATM machines.

For Maybank Private and Premier clients, MSpace at Maybank is one of the two branches you can visit in the central area of Singapore! Head up to the premium lounge at the mezzanine to get your financial issues attended to.

5) Drink Quality Instagrammable Coffee

Mellower Coffee’s menu consists of exclusive drinks only made for MSpace at Maybank. Indulge in premium espresso-based coffee made from Sumatra Single-Origins beans as you consult your financial matters. May we also mention that besides good coffee, they are very instagrammable too? If you love taking photos, Mellower Coffee is definitely one for the ‘gram’. A nice and relaxing setting, you may not want to leave even after you are done with your banking matters. Here are some visuals of Mellower Coffee at MSpace at Maybank:

Order your drinks on the MSpace at Maybank App with the iPads provided and indulge in instagrammable drinks like Mellower May, Gold Rush Sparkling Mango and Mellower Sumatra as below:

MSpace at Maybank

If you seek a relaxed and comfortable banking experience, be sure to visit MSpace at Maybank and give their new concept branch a try! Taking a different approach from the run-of-the-mill banking concepts. You will be sure to experience a satisfied banking service upon leaving the bank, and a very good cup of coffee!

For more information, Maybank’s Facebook Page or Website.

MSpace at Maybank
321 Orchard Road
#01-01/02 Orchard Shopping Centre
Singapore 238866

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How To Deal With Friends Who Are Big Spenders

With about 183,737 millionaires and over a thousand of insanely rich people in Singapore, you will come across some big spenders in your lifetime. Some of these people may be considered as your friends. How can you socialize with these people, if you cannot spend money as freely as they can?

KEEPING UP WITH THE NEIGHBORS

When you are surrounded with rich friends who love to splurge, it is understandable to feel envious at times. However, you must not linger excessively on this thought. The mere act of comparison can exhaust your energy. Constantly comparing what you have or what you do not have can contribute to your attitude towards money.

You must accept the fact that you are not as wealthy as your friends. What’s more? Keeping up with them can be detrimental to your finances. Apply the Negative Visualization exercise instead. Negative visualization entails imagining what will happen to your life if you have nothing. How can you survive without a job or without a spouse to support you? Doing this exercise will make you realize how blessed you truly are.

SOCIALIZING WITHOUT SPENDING

While your friends may be fulfilled with every swipe of their plastic cards, this may not be the case for you. Resist overspending by avoiding temptations. Opt for entertaining activities that do not require you to break the bank.

Outdoor activities such as cycling or hiking require little money to release some happy hormones (i.e., endorphins). You may also book a yoga class or a trip to the museum. Have a cup of coffee or tea afterwards.

Image Credits: pixabay.com

Do your best to enjoy intimate and inexpensive settings that will take spending off the table. Indulging in fancy restaurants or spa appointments occasionally is perfectly fine. These are some of life’s pleasures that are worth paying for, anyway.

SAYING NO TO FREELOADERS

Economically speaking, there is a considerable division between you and your affluent friends. They may be capable to cover your expenses but, you should never ask them to do so. Only accept their help during special occasions.

If they offer to lend you some cash, contemplate on whether you can pay them back or not. Discuss the payment procedures and terms surrounding it. Do not feel bad if your friend suddenly takes back the offer. Ultimately, you must not take advantage of someone’s generosity.

When all is said and done, try to give something simple in return. You may present a token of your gratitude or treat him or her out to a delicious meal.

COMMUNICATING IN AN OPEN MANNER

If you are constantly hanging out with big spenders, you need to be transparent with them. It is easy to talk about current events or Korean bands, but it is challenging to discuss about money. Even the best of friends can be drive apart due to money matters. Few people can openly admit that they cannot afford something. Feelings of shame can take over.

While spending money is typically associated with power, your wallet will thank you after being open to your affluent friends. Tell them that you cannot afford another hundred-dollar dinner two nights in a row. Genuine friends will back off once you let them know that you cannot spend money as freely as they can.

FOCUSING ON FRIENDSHIPS ALONE

Genuine friendships focus on the relationships between people rather than their net worth. Your income or capacity to generate money does not define your identity. If your friends belittle you because of your financial limitations, then you must reconsider your relationships with them. Is it healthier to disconnect? Is it better find friends who are more accepting of your financial situation? Ponder on these. Remember that genuine friends will help you rise up, and not drag you down!

Image Credits: pixabay.com

It may be difficult to rebuild your relationships at first, but you are always better off hanging out with friends who do not rub their wealth in your face. Surround yourself with people who will serve as your financial inspirations. Learn and ask tips from them regarding management of cash flow, investment portfolio, and business.

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5 Amazingly Unique Ice Cream Flavors In Singapore

I have to admit! I am quite adventurous when it comes to food. My openness towards food extends to the different flavors of ice cream. Who does not love this cold treat, anyway? If you share the same enthusiasm as I do with ice cream, you may want to try these unusual flavors.

Get your palates ready! 🙂

CHILI CRAB

Close your eyes and visualize the potent taste of Chili Crab. Now, picture it in ice cream form. It sounds interesting, to say the least!

Mingle Mangle offers a single scoop of Chili Crab ice cream for S$4.80 and a double scoop for S$8.40. These prices are reasonable given its purpose of novelty. Much like the local dish that it is based on, the ice cream version oozes with spiciness. It is a gradual kick that will be felt as you bite. You may want to purchase a sweet drink to wash out the spicy taste.

Image Credits: burpple.com

Location: Mingle Mangle, 476 Upper Serangoon View, #02-07, Singapore 530476
Website: minglemangle.com.sg

WHITE RABBIT

There is no greater joy than hearing your childhood candy transformed into a cold treat! I am talking about the limited edition White Rabbit-flavored ice cream at Sunday Folks.

On the quiet corner of a neighborhood, this local cafe put a spin on the classic candy by mixing a milk-flavored ice cream with milk mochi, milk-caramel sauce, and a sheet of the iconic glutinous rice paper. This nostalgic ice cream is available in cup or cone version for S$9.

Image Credits: Sunday Folks via facebook.com

Remember, this flavor is available for a limited time only. Get it while you can!

Location: Sunday Folks, 44 Jalan Merah Saga, Chip Bee Gardens #01-52, Singapore 278116
Website: facebook.com/sundayfolks.singapore

CHILLI CHOC

Take spiciness to a whole new level by tasting the Chilli Choc ice cream at The Daily Scoop! You read that right. Served with a whole chili on the top of the scoop, this ice cream may seem intimidating at first. Who am I kidding? It is not for the fainthearted!

Feel the heat at first lick and indulge on the dark chocolate ice cream soon after. As the website describes: “count to 10 and feel the burn”. A 400g takeaway tub of the Chilli Choc retails for about S$12.50 online. In its physical store, look for it under the “Fun Kyreations” section.

Location: Four locations islandwide including – 369 Sembawang Road, #01-05 Sembawang Cottage, Singapore 758382
Website: thedailyscoop.com.sg

KAYA LOTEE

Many Singaporeans enjoy eating their ice cream with bread. Personally speaking, the affordable ice cream sandwiches found on the streets can satisfy my hunger any day! As such, I am certain that the Ice Cream Chefs’ Kaya Lotee is a winner to most. Kaya Lotee ice cream consists of premium Pandan kaya and toasted bread chunks.

The perfect mixture of sweet and crunchy makes for a best-selling ice cream flavor. It retails for only S$3.80. What I like most about Ice Cream Chefs is its dedication to the gourmet freshness and the old-school quality ice cream.

Location: 12 Jalan Kuras, Ice Cream Chefs, Singapore 577727
Website: icecreamchefs.com

SALTED EGG YOLK

Salted egg yolk has taken the world by storm! There are interesting variations of this ingredient such as the salted egg yolk chicken, salted egg yolk crab, salted egg yolk pasta, and salted egg yolk chips. Salted egg yolk chips was made popular by the local brand called Irvins. Its popularity was proven by its growing international presence. In Chinese cuisine, salted egg yolk exists in moon cakes, rice dumplings, and other pastries. Fortunately for us, Tom’s Palette offers Salted Egg Yolk ice cream all day and everyday!

Image Credits: themunchingirl.wordpress.com

Tom’s Palette is a homemade ice cream shop that has been creating creative ice cream flavors since 2005. Its Salted Egg Yolk ice cream has a grainy texture that you may not resist. Another flavor that is sinfully good is the Parmesan Cheese & Cream Crackers. Made with Parmigiano-Reggiano cheese, this ice cream boasts both a savory and a sweet taste. These flavors cost about S$4.

Location: Tom’s Palette, Shaw Towers, #01-25, 100 Beach Rd, Singapore 189702
Website: facebook.com/TomsPalette

Sources: 1 & 2

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