MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

7 Unconventional Ways To Save Money On Your Wedding

1. Concretely visualize your wedding day and the events leading up to it by writing a narrative. Doing so allows you to enumerate the possible expenses that you will incur. Keep this narrative in mind when making your budget.

2. Whether you want to believe it or not, the “fake cake” was one of the hottest wedding trends in 2015. Purely made for show, the fake cake consists of a tier of real cake while the rest is made of styrofoam. This alternative looks just as elegant, but for the fraction of the price. Simply serve the (plain) supplementary cake you have kept in the venue’s kitchen.

3. My previous experience in the wedding industry thought me one thing – prices for products and services surge up when you attach the word “wedding” into it. Try omitting this keyword when searching for items online. A simple cocktail dress costs around S$20, but a wedding cocktail dress may cost twice as that. Some brides have gone to the extent of calling their wedding a “big party” when booking suppliers!

4. It comes as no surprise that many people around you are genuinely excited for your the big day. Ask your relatives, friends, and colleagues for help. Help is not limited to ang pow or red packets! It can be as little as borrowing their punch bows or as huge as taking your prenuptial photos.

Image Credits: pixabay.com

5. The crucial elements of a wedding includes the banquet. Spend less money by opting for bigger tables that need fewer tablecloths and centerpieces. Speaking of centerpieces, you can reduce your spending by sticking to one kind of flowers.

6. As a sign of gratitude for their participation, couples usually send gifts to their beloved guests. Unleash your creativity without damaging your wallet by making your own wedding favors. One option is to purchase small jars, fill it with jellybean, and wrap it with a bow. Another option is to bake your own dessert and package it well.

Image Credits: pixabay.com

7. When money is still tight after exhausting all your resources, consider the power of crowdfunding. Crowdfunding is a means of sourcing out money from a large number of people. You may recall the time when famous blogger Bong Qiu Qiu (or Budget Barbie) crowdsourced her legal fees. What is nice about crowdfunding websites is its ability to display how far you are from your monetary goal.

Sources: 1, 2, 3, & 4

How Expensive Is It To Tie The Knot In Singapore?

As the chapter of your singlehood comes to a close, the celebration of your dream matrimony draws near. It does not matter whether you came from a developed country or not! Weddings are deemed to be hefty in all parts of the world. Adding Singapore’s economy into the mix makes it more complicated for your budget.

Let us start with the standard cost of a wedding in Singapore. It is difficult to synthesize information dating back from the previous decades. So, I shall focus on the average costs of the main wedding elements. Said elements include the wedding rings, banquet, documentation, and bridal package. Your union can cost somewhere around S$30,000 to more than S$100,000 depending on how simple or extravagant the celebration is.

THE SHINY RINGS

The roundness of the ring symbolizes infinity – to which there is no beginning or ending. Its eternal nature signifies the pureness of love. Sorry to burst your bubble but, purchasing jewelry does not stop after you find the “perfect” engagement ring.

You still need to search for wedding bands to exchange on your special day. Do not let these simple rings fool you as these costs between S$1,000 to S$3,000 each! Rates can go up depending on the material of the ring and the precious stones encrusted in it.

THE SCRUMPTIOUS BANQUET

A wedding banquet holds a major chunk of your wedding budget. Our “foodie culture” is one of the reasons why it is significant. We can all agree that feasting is one of our favorite pastimes. Thus, more creative menu and fancier venue customization had been available to us.

Generally speaking, a weekday wedding banquet with 300 guests can take you back by S$30,000. Why is this so? You see, the average price per plate is around S$100 for weekday lunches and S$127 for weekend dinners. Further research highlights that local banquets range between S$50 to S$235 per person. Your food expense can go as high as S$70,500 for 300 guests and as low as S$10,000 for 200 guests. The more intimate the banquet is, the more savings you will have. Perhaps the only consolation of having a bigger guest list is the volume of red packets that you will get.

Image Credits: pixabay.com

THE MEMORABLE DOCUMENTATION

Early this year, we welcomed a new member to our family. We exhausted our resources to find the best suppliers that were within the couple’s budget. They ended up with a company that offered a package for videography and photography. In other cases, it is cheaper to look for different photographers and videographers.

Prior research is recommended before signing a contract. You may start with the top results when you Google search: “Wedding Photography Supplier Singapore”. Then, compare the prices with the local suppliers nearby. Expect to spend around S$2,000 to S$4,000 on documenting the momentous occasion.

THE STAR OF THE SHOW

The blushing bride usually steals the show! The last wedding that I attended involved the bride changing into three distinct dresses. Having several gowns tailored to your onetime use is undeniably expensive (and possibly unnecessary). This is why most brides in Singapore prefer the “bridal package”.

A bridal package includes a photo shoot, the hair and makeup, and some rented gowns. This convenient package costs about S$3,000 to S$6,000. The price depends on the range of gowns and the location of the photo shoot. You may opt to have your wedding album taken in premium spots such as the Eiffel Tower or the Sydney Opera House.

Image Credits: pixabay.com

You cannot deny it! A wedding involves an incredibly long list of expenses. Before shelling out a fortune, you must organize your expenses. Budgeting will help you align these expenses with your priorities. Best wishes!

Sources: 1 & 2

How To Keep Your Sanity When Working Overtime

Spending extended hours at work is tough – to say the least. When you cannot stop thinking of the looming tasks ahead, you will end up more tired as the day ends. This is not beneficial for your sleep and your holistic health.

When you leave the office, you must make sure to leave everything else there! This is just a tip to keep your sanity. Here are the others…

ENJOY A FRUITFUL SLUMBER

Make sleep one of your top priorities! Quality slumber is a good weapon to possess while you work overtime.

Image Credits: pixabay.com

Sacrificing your sleep for the sake of your job is destructive not only to your physical, but also to your mental health. Studies have shown that sleep deprivation was associated with a myriad of unpleasant things such as lack of concentration, weakness of muscles, and increased food consumption. Other things will start to fall into place once you had a good night’s sleep.

CULTIVATE WORKPLACE FRIENDSHIPS

You may be working for 10 hours today, but you are not the only one! Having a person to talk to makes the long day seem more tolerable. Cultivate a genuine friendship with someone at work. Finding a work friend does not change the fact that you are working overtime or on the weekend, but he or she can make the extra hours more enjoyable.

Your work friend can serve as a source of validation and distraction. After all, he or she knows exactly how you feel. However, you must not constantly bombard the person with your negative complaints and stories. Doing this will make your relationship toxic! Treat your work friend as an outlet to mutually boost your positive mood.

WHEN ALL ELSE FAILS

Constantly enduring and accepting the long hours can lead to a counterproductive cycle. This said cycle begins when you reach high “overtime levels”. Continuous battle with the extra hours can lead to the depletion of your health. Absenteeism may eventually rise. Unfortunately, this leads to more overtime (i.e., to make up for the pay loss).

Image Credits: pixabay.com

Maximize your resources to deal with the situation. When all else fails, voice out your concerns to your employer. Feeling burnout or highly exhausted is not something that you should take lightly.

Sources: 1 & 2

5 Helpful Tips To Achieve Work-Life Balance

Focusing on your career and enriching your personal life can be challenging in today’s busy world, but it is possible!

1. PRIORITIZE YOUR TASKS

Efficiency at work is a trait that I take pride in. I search for the quickest and the smartest ways to finish the tasks. Whenever I am bombarded with serious deadlines, I make it a point to list down all of them. Doing so enables me to examine which task I should prioritize first. For instance, I would rather rearrange my closet at noon than putting my assignment on hold.

Avoid feeling overworked by accepting that you cannot be on top of everything in your life. Hence, you must devote your time and energy into the tasks that will deliver the most beneficial outcomes.

2. MONITOR YOUR TIME

Be honest with yourself. How much time do you spend on things that matter to you? Does your day align with your priorities? Maximize your time by eliminating unnecessary slots (e.g., time spent on worrying about the opinion of others).

After listing down all the tasks that you have to accomplish within the day, assign a time slot for each one. Organizing your timeframe allows you to take breaks in between. Also, it highlights the importance of scheduling your private time. It is not what you think it is! Your private time refers to the opportunity to reduce your stress and to recharge your energy. Whether you want to sip a cup of tea or read a book in solitude, give your own time the same respect as a work meeting. Abide strictly to your schedule…unless there is an emergency!

3. SET A VACATION

In lined with scheduling the flow of your day, you must set a period for sabbatical. At least 14 days off work per year would do. You may think that spending two weeks off is not economical! However, you must focus on its benefits for your holistic wellbeing. Consider an affordable staycation in Singapore or a worthwhile weekend trip in the Southeast Asian countries. Use your paid leaves wisely!

Image Credits: pixabay.com

If a vacations sounds a bit far-fetched, set aside at least an hour of each day to focus on yourself. Whether you want to walk your do to the park or to get a Thai massage, it is good to have something to look forward to.

4. DO NOT MULTITASK

Previous studies have shown that multitasking is associated with less productivity. Our brains are essentially “task switching” when we do two or more tasks at a time. The gravity of the situation can be illustrated by imagining your brain as a computer. The more programs you have in operation, the slower it will function overall. Multitasking not only affects the quality of your work, but it can also affect your gray matter volume. This brain component is responsible for memory and decision-making. You may recall juggling two tasks and forgetting some elements in the process.

So, be sure to empty your thoughts when it is time to work. Leave your household chores behind you! Once it is time to go on a romantic date, do not think about the report that you are going to present in the morning. You will be more productive when you are not dividing your attention into small fractions.

5. UNPLUG YOUR DEVICES

How many times have you heard the saying: “LIVE IN THE MOMENT”? This statement has been posted in several of my friend’s social media walls, yet is impact is underrated. We cannot help it! It is easy to feel attached to technology. I once attended my sister’s graduation ceremony. The mother in front of me brought her laptop and hand-phone along. She was shamelessly answering calls and typing away as the students march to the stage. This situation stresses the clash of work and personal life.

Image Credits: pixabay.com

The downside of modern technology is that work can follow you wherever you go. Your client may even reach you while you are catching waves in Bali. Robert Brooks, a Psychology professor at Harvard Medical School, says that “phone notifications interrupt your off time and inject an undercurrent of stress in your system”. Shut down your devices upon reaching home. Enjoy interacting with your beloved ones to build an authentic quality time. By not reacting to the updates from work while you are at home, you will develop a stronger habit of resilience. Unless it is an immediate emergency, the job situation can wait.

Sources: 1, 2, & 3

Fastest Ways To Drain Your Money In Singapore

1. Visit the nearby grocery while you are hungry. Shopping hungry typically leads to adding unnecessary items to your cart. You will be amazed by the length of your receipt!

2. ATMs are easily accessible in Singapore. So, draw more money that what you actually need. Your S$40 can disappear as quickly as drawing only S$20.

3. Embrace tardiness! Paying the bills late takes you back by a decent amount due to the late fees and surge in interest rates. Doing this regularly may potentially damage your credit score too.

4. Promotions and other good deals are everywhere these days. Nothing will flush your money faster than becoming an impulse buyer. See something you like while window shopping? Grab it and worry about the cost later.

5. Shower your pets with #OOTD options by purchasing clothing for all occasions. From a fairy ensemble to a Santa costume, pet clothing and accessories can cost about S$3 to S$30.

Image Credits: pixabay.com

6. Get additional S$10 or more on your teleco bill by exceeding your data limit. Some network providers apply the charges even if you exceeded your data capacity by 0.000001GB!

7. Many of us depend on a trusty cup of coffee to keep us energized throughout the day. With branded coffee chains at every turn, it is hard not to be tempted. Spending at least S$6 a day will add up to S$42 in a week. The same idea applies for artisan water.

8. Be hooked on a smartphone app! An addicting game can lead you to scoring some in-app purchases. You really need that power-ups from Candy Crush, right?

9. Do you have a thirst for excitement? Be surprised by the variety of fees and penalties that you can acquire by not reading a contract. You signed on the dotted lines thus, you are obligated to pay for all of them.

10. Watch your money fly by regularly purchasing disposable razors. Disposable razors tend to lose its sharpness and durability quickly. You will end up buying this product frequently.

11. Go to the grocery store at least twice a week. Making this a routine suggests that you are not properly tracking your food consumption or adjusting your expense categories.

12. During rush hour, you can either book a regular taxi or a Grab taxi. The latter offers a flat fee that is calculated upfront without hidden fees. While, the former is decked with extra charges for traffic conditions or bad weather.

Image Credits: pixabay.com

As obvious as this may sound, you must avoid the items written above. Alter your spending habits and stick to your realistic budget!

Sources: 1, 2,3, & 4

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