MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

How To Celebrate Valentine’s Day Without Spending Too Much

Valentine’s Day is one of the most expensive “holidays” in Singapore.

But, it does not have to be!

You can always celebrate love without breaking the bank.

ELICITING GENUINE EXCITEMENT

One of the best ways to start a date is by handing over a sweet letter that will elicit genuine excitement. Crafting your own Valentine’s Day card costs practically nothing! Simply use the art materials that are available in your own home. Pouring your heart and soul into written words is more personal than signing your initials into a mass-produced holiday card.

Apply your personal skills to your homemade cards to boost its quality. Consider these scenarios:

a. An illustrator may draw the image of his or her significant other.
b. A digital enthusiast may animate a romantic message and send it via email.
c. If you like to bake, you may place the card on the top of a delicious box of cookies.
d. If you like to blog, you can create a beautiful post for your lover.

These things are more likely to be treasured than the items bought at the store.

FUELING THE ARTISTIC CLIMAX

Appreciating the arts is often perceived as something exclusive to affluent individuals. Purchasing concert tickets at Esplanade can be costly! Not to mention, purchasing art at galleries can cost thousands of dollars. Fortunately, locals and permanent residents have the option to hop around several museums for FREE!

Build up on the excitement by taking your beloved on a “not so typical” date at our very own Singapore Art Museum. This innovative museum houses a great collection of contemporary Southeast Asian art ranging from sculptures and paintings to installation art and moving media. They regularly collaborate with the leading international museums to cover both the local and international art practices.

Your date will be amazed with its current exhibition entitled: Singapore Biennale 2016: An Atlas of Mirrors.

LEAVING A LASTING IMPRESSION

Close your lovely day with a hearty dinner. Going to a restaurant on Valentine’s Day takes guts as you need to brave the waves of people and to make early reservations. Save money and avoid stress by preparing a romantic meal in the comfort of your own space.

Great recipes are available at Epicurious, AllRecipes.com, and RasaMalaysia.

Image Credits: pixabay.com

If your budget does not allow you to celebrate on February 14 itself then, consider choosing an alternative day. It will not only be cheaper, but it will also be less crowded. At the end of the day, what matters most is that you spent the gift of love with your partner.

Sources: 1 & 2

6 Bulletproof Saving Hacks For Millennial Singaporeans

As a Millennial Singaporean, it is easy to be tempted to travel and to socialize (talk about #YOLO or #NOFOMO). You just want to make the most out of your youth. Enjoying the wonders of the present and preparing for financial freedom is a difficult job!

Hopefully, these saving hacks below will enable you to make the right monetary decisions and live a prosperous 2017.

MAXIMIZE YOUR CASHBACK

In this day and age, almost every purchase qualifies for a cashback or rebate. Do you need a new dress for work? Or, do you need to expand your health coverage? See if you can get a little cash back!

Try to make the most out of your credit card rebates to save a decent amount of money for emergencies.

AVOID THE EMOTIONAL SPENDING

Studies (like this) have shown that Millennials are prone to spending based on their emotional states. The four common emotions that lead you to overspend are hunger, anger, loneliness, and tiredness. These emotions may lead to purchasing something that you do not need or want.

Avoid experiencing “buyer’s remorse” by increasing your awareness while you shop.

SPOT THE BEST DEALS

As Millennials, we spend countless of hours online. Use its potency for the greater good by searching for the best deals, promo codes, coupons, and vouchers islandwide. Keep a close eye on the local websites such as Flipit.com Singapore, Groupon, and Money Digest.

Image Credits: pixabay.com

MAXIMIZE YOUR RESOURCES

As a young adult, you may feel the urge to keep up with the latest trends on fashion and technology. Who can blame you? Purchasing new clothes and devices can boost one’s confidence. However, your spending habits may take a toll on your finances. Choose to be practical instead!

Account your resources to know which areas you can cut cost. Ditch your underused cable television and switch to a Netflix or Toggle account on your laptop. You may also refrain from purchasing new shoes by revamping your simple shoes with laces and ribbons.

DO NOT TURN A BLIND EYE

Being in your 20’s does not guarantee that you are immune to financial woes. Red flags, such as outstanding bill notices, are there for a reason. Make it a habit to account how much money goes in and out.

Use money-tracking tools to aid you in this process!

USE THE POWER OF TECHNOLOGY

Most millennials are innately tech-savvy. Use the power of technology to boost your knowledge on investments, financial services, and personal finance. Appreciate how lucky we are to have the luxury of accessing information right at our fingertips!

Image Credits: pixabay.com

You may also seek guidance and support from the experienced financial advisers by interacting with them thru social media.

Sources: 1 & 2

Welcome The Auspicious Chinese New Year By Spending Less

According to a recent survey by United Overseas Bank (UOB), Singaporeans are planning to minimize their overall spending for the Chinese New Year (CNY).

It is interesting to read that 3 in 4 people intend to use their red packets to grow their savings. Furthermore, the participants’ budget for the joyful event is S$2,503 on average. This number is 11% lower than last year’s intended budget of S$2,805. Just take a gander at this info-graphic:

Image Credits: http://www.straitstimes.com/sites/default/files/articles/2017/01/13/uob_cny_2017_infographic_12jan_fa_2-3.jpg

Image Credits: straitstimes.com

To help your wallet and your cause, here are some tips to lower your CNY spending:

GO LIGHT ON SNACKS

The vibrant festivities of the CNY will not be complete without the delectable snacks. You may notice that that homemade snacks are all the rage these days.

Many small-time retailers had to hire helpers in order to satisfy the demand for these special snacks. The act of labeling a snack as “homemade” can increase its worth by approximately 25%. For instance, a fifteen-dollar box of sweet almond cookies will cost S$18 or S$20 instead. The meticolous process poured into homemade snacks make it generally acceptable to charge more.

Reminder: Set a fixed budget for your snacks. Focus on amplifying the quality of your party rather than the food.

GET RID OF THE BAD MOJO

Sales are everywhere! Instead of spending your hard-earned money on shopping, put your unused energy into good use. Get rid of the unpleasant mojo from the years past by employing something similar to “spring cleaning”. Tidy up your entire home thoroughly with your family. It is important to keep your broom, vacuum, and mop before the CNY too.

Remember: Superstition dictates that whatever you do during the CNY season will characterize how you will live through the following 12 months. This is why you must keep your home and finances in order. For instance, you must avoid borrowing money in the first two weeks of 2017.

ALLOCATE FUNDS FOR ANG BAO

Red packet or Ang Bao will grace the country once more to mark the first day of the CNY. It exudes “good luck” and is supposed to ward off the evil spirits. The red packet contains as low as S$2 and as high as S$200 on average.

Married couples are usually the ones to distribute the red packets to single people. Now, let us discuss how much money shall be put inside. A red packet containing a minimum of S$2 to S$20 is appropriate to give for children, while it ranges from about S$8 to S$88 for parents. You may give the same amount of money to your friends or colleagues’ children as you did with your own children.

Image Credits: pixabay.com

Reminder: Innocent children are likely to misplace the red packets. Give the money directly to the parents instead.

Sources: 1, 2 &,3

You Can Flawlessly Survive A Long-Haul Flight

Discovering the cultural differences while traveling the globe is a luxury that many Singaporeans are willing to pay for. While some flights pass by in a snap, other flights seem to drag on forever. I am pertaining to the intimidating long-haul flights!

Each passenger has a story to tell, but I am going to share an interesting one. My friend Rose (definitely not her real name) is a globetrotter. She had her fair share of short term and long term flights, including some of the most rough routes. Among these flights, she will not forget about her 15-hour experience to London. She was seated beside a highly anxious teen who could not stop crying. The teen felt cold and dizzy. She kept crying for almost 10 minutes. At this moment she questioned why this was happening to her. Why was she seated beside a person who is having a panic or anxiety attack? Fortunately, the situation was handled by a passenger who happens to be a licensed doctor.

Rose’s story is a rare case. Most flights are better than others as you may employ strategies to help ease your journey. Flying for a long period of time can become enjoyable with preparation and determination. Let us start with the factors that you can control such as your clothing, seat, and diet.

Given that you have to endure wearing the same outfit for more than three hours, you must be decked out in a comfortable one. Ensure that your chosen set can withstand the blast of the powerful air-conditioning system. I suggest to opt for several loose layers and closed-toed shoes.

When it comes to your eating regimen, you must shy away from alcohol and carbohydrates as much as possible. Carbohydrates holds water and makes you feel more bloated. While, alcohol is a dehydrating agent. Stick to the healthy option of fish (or chicken) and water instead. It is always a good idea to gulp a considerable amount of water before, during, and after your flight.

Lastly, it is important to realize the convenience that the contemporary era brings. Sit peacefully in your seat by reserving ahead of time. Avoid the noise created by babies and children by staying away from the front part of the plane. To reap the benefits of spacious legroom, choose the seats in the exit rows.

To prevent muscle soreness or discomfort, remember to do simple stretching exercises while sitting down. Twist your torso and look behind your shoulders every once in a while. You may also roll your head for a few times to help ease a stiff neck. Having the seat-belt sign turn off can work to your favor! Just take short walks to the lavatory area to stretch your legs and hips.

Image Credits: pixabay.com

As with every circumstances in life, you cannot always be on top of the situation. A bearable long-haul flight to others may not serve you well. What can get you through the frightening turbulence and the deafening scream is a positive mindset. Perceive a long-haul flight as a beaming opportunity to catch up on your sleep or television series. It is also the ideal time to indulge on a movie marathon or to carefully write a business plan.

I admit it! Flying for a long period of time is not always easy for the mind and the body. Still, many of the strategies that I mentioned above can help reduce the strain of flying. Follow and modify these. More importantly, realize that the flight will eventually come to a safe ending. So, stay hopeful and committed!

Image Credits: pixabay.com

Sources: 1, 2, & 3

How To Save Money As A Newbie Driver

Not owning a car in Singapore may be the wisest thing for your wallet. However, there are efficient ways to minimize your financial destruction. Consider the following:

GAIN THE THEORETICAL KNOWLEDGE FOR FREE

Theoretical knowledge includes the fundamental aspects of driving such as the road signs and the car parts. Recently, I enrolled myself in a driving school that offered free lectures as a part of the year-end promotion. I was fortunate as some driving schools charge extra for these.

You may avoid the additional costs too! Simply uncover the gems found online. For example, you may download this informative file to widen your understanding on Singapore’s road traffic signs.

You may also purchase a single instructional book and learn by yourself. Doing so will save you money, time, and effort.

CHECK THE CONDITION OF YOUR TIRES

Be honest with yourself. As a newbie driver, you may overlook the state of your tires unless they are completely flat. A tire will enable you to travel as long as it has air. This is why some people fail to realize that their tires are under-inflated. Under-inflated tires can not only cost you more petrol, but also your lives.

Image Credits: pixabay.com

Prevent accidents from happening by checking your tire pressure on a monthly basis.

REMEMBER THE FIRST GEAR

As I examined the available options from the driving school, I committed myself to manual vehicles first. I wanted to absorb the basics in order to have an easier time with the automatic vehicles.

What I like most about manual controls is its ability to control the acceleration. If you place more importance on fuel-efficiency then, this is a route that you shall take. Manual vehicles generally use less fuel depending on the driver’s awareness and proficiency. A driver who constantly skip the first gear tend to burn more fuel with the second gear’s power. So, do not forget to initially shift the control to the first gear.

PLAN YOUR PATH AHEAD OF TIME

In this day and age, it is easy to rely on the convenience of technology. The community-based navigation app called Waze boasts its ability to provide an accurate map that steers away from traffic jams. Almost all of my family members depend on this free app. However, its distinct routes may not necessarily be cost-efficient.

Save money on petrol by searching the shortest route possible. Look at Google Maps and other resources to get a decent estimate of how long each path may take. Plan wisely!

Sources: 1, 2, & 3

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