MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Start Saving Cash By Following These 18 Spectacular Tips

Saving money is a crucial step to financial independence. No matter what your current financial status is, you need to understand that it is possible for you to grow your wealth. There are simple money-saving ways that you can employ now.

Let the round-up begin!

1. Start by accepting your financial responsibility and devising a monthly budget that is suited for your lifestyle. When you continue to make excuses to saving money or altering your spending habits, you may end up broke.

2. Eliminate your consumption of junk food and beverages such as sodas, chips, and sweets. These things are not only unhealthy but they are also costly.

3. Figure out the saving goals that are most important to you. Organize your expenses based on your priorities and your goals.

4. Spend at least 6 minutes on examining the last month’s utilities bill and credit card statement. Use your vigilant eyes to spot one expense that you can either reduce or eliminate.

5. Before purchasing anything, it is good to read the reviews and to compare the prices so that your money will not go to waste.

6. If you are taking medications on a long-term basis, ask your physician if he or she can prescribe a cheaper yet equally efficient alternative.

Image Credits: pixabay.com

7. Surround yourself with financially literate friends. This is important as you can begin to adapt the attitudes and the beliefs of the people whom you are most exposed with. Know the 6 Kinds Of Friends Who Can Positively Influence Your Finances.

8. If possible, let your employer automate your salary in a separate bank account that is solely for your savings. This will lessen the temptation of immediate spending.

9. Give refurbished laptops a chance. Buy these from established and trusted retailers to ensure safety.

10. Save and reinvent the unconsumed food when you either ordered too much restaurant food or when you cooked excessively.

11. Your appliances and electronics will continue to consume energy and spike your tariff despite turning off the switches. This is why you must unplug your cables when not in use.

12. Save every last cent by putting it in a jar. If you collated your loose change of 50 cents a day, it can generate nearly S$200 a year.

13. There is no need to replace your torn clothing right away! Learning and mastering the basic sewing stitches can help you extend the life of your favorite clothing.

14. The sharing economy allowed people from all over the world to rent their own homes. Cut accommodation costs as well as energy consumption by availing the services of Airbnb, HomeExchange, or Couchsurfing when overseas*.

15. Stop hoarding or collecting unnecessary items. Start selling these items on global marketplaces instead.

16. What better message of gratitude can you convey when you pour your heart on handmade gifts? Consider creating your own gifts instead of buying them from the shops.

17. Limit your taxi rides. Using public transportation can save you at least S$5 per trip.

18. Rather than spending all your money on a fancy restaurant with your friends or co-workers, socialize by having a pot-luck.

Image Credits: pixabay.com

*Be cautious at all times. Read the reviews of the room or the house you are renting before paying for it.

Sources: 1 & 2

Download The App That Can Keep All Your Insurance Policies In 1 Place

Insurance is a safeguard against unfortunate and unforeseen events. It is a strategic way to manage various risks. Insurance companies offer individuals or policyholders protection from potential losses in exchange of payments called premiums.

To manage your policy letters better, insurance companies offered their own apps. It sounds like a great idea for people who possess a couple of policies from different insurance companies. However, it is quite a chore for people who hold several policy documents. That is when PolicyPal comes in.

PolicyPal, developed when a startup took part in the Startupbootcamp FinTech Singapore, is a versatile platform that gathers all the policy documents from a wide array of insurers. It provides you with a “digital overview and analysis of your existing policies to identify any protection gap in your insurance portfolio and help you to better understand your coverage.”

Image Credits: facebook.com/hipolicypal

HOW IT STARTED

Ms. Valenzia Yap is the brainchild behind PolicyPal. About two years ago, Valenzia’s mother was diagnosed with a serious illness. Her mother was diagnosed with one of the most notorious illnesses across the globe – CANCER. The unfortunate turn of events did not stop there. She was surprisingly rejected by the insurance company because of several lapses that they were not aware of.

The inconvenience that she went through while sorting out her mother’s policy letters gave her an idea to digitize the collation of the insurance policies and other documents. So, Valenzia collaborated with two programmers named Rick Wong and Jun Wei Ng to create the PolicyPal. Necessity was truly the mother of invention this time around.

ITS CURRENT SITUATION

This impressive app received over a thousand of users since its launch. Majority of these users are either on their late 20s or early 30s. Interestingly, their policies range from 1 to 12. These information simply shows how a significant number of Singaporeans are conscious about their health and safety choices.

THE EASY PROCESS

In simpler terms, PolicyPal follows these steps:

1. Capture an image of your policy’s first page.
2. Taking a snap of the second page is only necessary if you have riders.
3. Wait for the app to process your data. It will analyze the policy number, premiums, coverage, and expiration dates.
4. View your premiums and coverage in a graphical overview or a comprehensive chart.
5. Request for a review.
6. Get a free portfolio review to understand your coverage its gaps.
7. Purchase from the available policies if necessary.

Image Credits: facebook.com/hipolicypal

Eager to get your very own PolicyPal app, visit policypal.co to download it for FREE!

MORE FINTECH APPS

There are other incredible financial technology startups that originated from the Lion City aside from PolicyPal. These startups came up with smartphone apps that make financial services more efficient, convenient, and prompt. They challenge the traditional businesses that are less reliant on the potency of software.

Do yourself a favor and know more about the Call Levels (i.e., providing live updates for traders and investors), the TradeHero (i.e., gamifies trading), and the Dragon Wealth app (i.e., one-stop shop for financial advisors)!

Source: 1 & 2

3 Ways To Get Affordable And Quality Hair Removal Services In Singapore

Not all hair removal services in Singapore are cheap! Some may cost you over S$1,000. Fortunately, there are other ways to achieve an incredibly smooth skin…

1. INDULGE ON GROUPON

GROUPON is probably my all time favorite shopping companion. Used by many Singaporeans, GROUPON is a website that offers discounted deals on events, luxury goods, bags, watches, beauty products, lifestyle services, and getaways. I recommend going for these current deals below that range for only S$25-45:

a. S$28 (U.P. $1,248) for a session of Brazilian IPL Hair Removal and a Lifetime Underarm IPL at Ginza Calla

Ginza Calla is a Japanese brand that is backed by over 20 years of experience. The salon seeks to provide the best possible experience to its clients by using latest technology. In fact, the estimated number of sessions to completely remove the unwanted hair using the IPL method is about six sessions.

b. S$45 (U.P. $324) for 3 sessions of Brazilian IPL Hair Removal at Clare De Beaute

Nestled at the Orchard Road, Clare De Beaute offers a sanctuary to unwind your tensed mind and body. Its dimly lit reception sets the serene tone of the place that transitions to a series of aesthetic pampering, facials, and massages.

The particular promotional treatment above includes a cooling gel application.

c. S$25 (U.P. $60) for a session of Brazilian Waxing and Antioxidant Treatment at Plush

Plush is an award-winning beauty salon that serves top-notch beauty products and includes highly trained therapists to satisfy its clients. It also ensures that cleanliness is maintained in all its treatments.

Image Credits: pixabay.com

Hair removal treatment at a fair price brought to you by GROUPON! You can conveniently pay through for Debit/Credit Card, Paypal or American Express.

2. LOOK FOR PROMOTIONS

Still have your heart set on the best beauty salons in Singapore such as Musee Platinum Tokyo, Strip, Pink Parlour, and Browhaus?

The good news is that these salons offer promotions for waxing, IPL treatment, and other hair removal services every once in a while. Musee Platinum Tokyo and Pink Parlour are currently having two irresistible promotions. For Musee Platinum Tokyo, its promotion is S$38 for unlimited sessions (1 session every 2-3 months) for the underarms and bikini line.

Image Credits: www.musee-sg.com/promotions/index.html

While, Pink Parlour has a tea-time offer of 1 for 1. Does it sound tricky? This simply means that you can enjoy 2 sessions of Alpha Light Brazilian, Alpha Light Bikini, or Alpha Light Underarm treatments until August 31. You may share your extra session to a friend too.

Image Credits: facebook.com/pinkparlour

3. SERVE YOURSELF

If your budget for hair coloring is less than S$10 then, try the magical services provided by you! Go to the nearest Watsons store and purchase either the house brand of hair removal cream or the renowned Veet removal cream. Prices of these products range from S$8.90-22.45.

Watch this short instructional video to know more about Veet:

Sources:1 & 2

Do You Have The 5 Traits Of A Good Boss?

If you want to succeed in running a business, you need to understand that it takes more than just telling people what to do. You must have the qualities that make you stand out from the rest.

Do not get me wrong, possessing the traits of a good boss will not make you perfect. This is because an individual must act based on these traits. You cannot preach to a crowd if you are disorganized yourself.

Fortunately, these traits can be and must be learned through repetition. Start by knowing what some of these are:

1. CONSCIENTIOUSNESS

Conscientiousness, a trait in the Five Factor Model, has long been associated with success. This is because people who are highly conscientious are dependable and organized. While, people who are low on this trait tend to be more careless, spontaneous, and laid-back.

You can easily spot this trait in the workplace. A boss with a high sense of duty comes to work on time, follows the projects’ deadlines, and avoids unnecessary absenteeism. Acting beyond what is required of you (going above and beyond) is also an indicator of your conscientiousness.

2. COMPASSION

As the noble Dalai Lama once said: “Compassion is not religious business, it is human business…”

He highlights that regardless of our status, compassion is an essential trait for human survival. It is also applicable in the workplace. A compassionate boss can create a workplace filled with people who value each other and who go thru the hurdles as a unit. After all, the Latin etymology of the word “compassion” translates to “to suffer with”. Try to practice compassion in everything that you do.

3. CREATIVITY

Some of the world’s most inspiring leaders are creative individuals. These inspiring individuals include Facebook’s founder Mark Zuckerberg and Patanjali Ayurved’s founder Baba Ramdev. In the local scene, Jeannie Chew of Soaplah comes to my mind.

The invention of the Soaplah came from Jeannie’s previous experiences with skin problems. She was troubled with eczema and other skin issues at a young age that she started making her own natural soap. In her journey to find the best solution, she handcrafted her soaps using natural ingredients such as pure essential oils with anti-microbial and anti-inflammatory properties. Her hard-work paid off as Soaplah offers a variety of soaps that can absolutely soothe even the most sensitive of skins!

Image Credits: www.facebook.com/soaplah

If you are like Jeannie, creative thinking can spark a vision or a sudden epiphany. The road to perfection comes with mistakes. It is your job as a good leader to navigate the wrongs into rights.

4. INTEGRITY

Majority of the people agree that a good boss must uphold integrity and sincerity. Integrity entails honesty in internal and external aspects of the person. It requires you to tell the truth in every situation.

For instance, an honest boss is willing to share the good and the bad news to its employees. It is because he or she knows that they deserve to know.

5. ACCOUNTABILITY

The grave responsibility bestowed on you comes with great accountability. Accountability is not only for the achievements of the company but also for its downfalls. There are no “absolutes” in business. One can never ascertain the things that can happen in the future after making a decision.

Image Credits: pixabay.com

Be fearless and accept the responsibility of your actions. If necessary, hold others accountable too.

Sources: 1, 2, 3, & 4

Infographic: Top Earners – Graduate Employment Survey

This is a guest post from Digital Senior.

NTU’s rise in rankings

We are spotting notable changes in the ranking of the top 10 paying degrees. Last year(http://digitalsenior.sg/graduate-employment-survey-ges-2015/ ) , the only NTU degree we saw was aerospace engineering at number 10. This time round, at 5th and 6th placing, we have both NTU double degree courses. It may be due to a NTU’s rapid rise in world rankings. In 2015, NTU jumped to 13th position in the widely-used QS system, putting it ahead of even Ivy League and European universities such as Yale, John Hopkins, Cornell and King’s College London. NTU doesn’t have a law program and its medicine course is relatively new. As a result of that, some of its strongest degrees are NTU Business and Computing and NTU Accountancy and Business degrees with graduates salaries over $4500. With NTU’s newly established star program- Renaissance engineering students graduating soon, it will be interesting to see how much they would fetch.

IT graduates

Also, there is a trend of computing graduates getting increasingly paid better. It is not surprising considering that many industries in Singapore have transformed with the widespread adoption of internet and technology. Print media is one such example of an industry that has shifted. Individuals with IT skills are definitely in demand. On the other hand, the top 2 paying degrees remained , with law and medicine graduates commanding the highest salaries. It is unlikely that computing students can overtake them anytime soon.

Increase in salary

In general, starting salaries of fresh grads have also went up by around 5-10% compared to last year , beating inflation rate slightly. It is definitely a good sign that our graduates are getting better paid. The better students can expect to be paid around 4-5k a month.

Importance of money management

While it seems like a huge amount as compared to what their parents receive decades ago, it bears knowing that prices of everything else has also increased. Graduates have also their 5-figures student loan to repay, which could be several times the amount of their monthly salary. Financial prudence have to be exercised right from the time they graduate. We see a tendency for many people new to working world splurging their new-found wealth as soon as they graduate.

While we do not want to paint an overly pessimistic picture for an event as delightful as graduation, the importance of financial planning cannot be overlooked. Many other financial obligations will set in awhile after graduation- housing loan, car loan and kids’ expenses etc. If proper planning is done beforehand, alot of heartaches can be saved.

Advice for graduating students

Luckily, more than 90% of graduates are able to find jobs 6 months within finishing their final papers, which is what we see in the previous years as well. As long as savvy management of money is carried out, we are confident that a smooth sailing financial life is a guarantee for graduating students.

The salaries definitely comes with a “price” as it can be seen that there is a correlation between potential salary and entry grades requirement for each course. If you are looking at earning well in the future, it definitely pays to study harder! That said, the ideal scenario would be find a course you like and can pay well! All the best.

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