MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Here’s How You Can Save Money When Visiting Japan

Amazingly dense cities, mountainous national parks, and historically-rich shrines are some of the things that encapsulates Japan. It is one of the sought-after spots that globetrotter Singaporeans target when they have time to spare. Tourists are drawn by the array of food and the unique culture, but it has so much more to offer!

With the relaxed visa policies (i.e., Singapore citizens don’t require a visa to enter the country for temporary visits) and increased flights between Singapore and East Asian countries, here are some tips to keep in mind when discovering to Japan.

1. CONSIDER THE ALTERNATIVE OPTIONS

One of the most impressive things about Japan is its value for cleanliness. Even the relatively cheap hostels are well-maintained and are equipped with high-tech toilets. So, do not be afraid to be adventurous when it comes to trying alternative options such as the famous capsule hotels with a starting rate of about S$35 per night. Some dormitory beds at guesthouses are advertised as low as S$19 per night.

As a friendly reminder, please read the online reviews before booking.

2. TRAVEL DURING OFF-PEAK SEASON

No matter what season you are booked for, you will always find something interesting in the “Land of the Rising Sun”. It is best to book during off-peak season to save more money.

Image Credits: pixabay.com

People typically flock between March to May because they want to see the witness the beauty of the Sakura (or Cherry Blossoms). During this peak season, one can expect higher rates for accommodations and air fares. Avoid the Christmastime and the Obon season (around mid-August) too!

3. TAKE ADVANTAGE OF THE EFFICIENT PUBLIC TRANSPORTATION

As I was peacefully scrolling through my Instagram stories, I saw a picture that my longtime friend posted. She just boarded the Shinkansen or Japan’s high-speed bullet train. Fueled by my curiosity, I made her share about her transportation experiences. She told me about the expensive cab ride that she took from Shimbashi to Funabashi (i.e., a distance of 24km). It costed 10,000 JPY or 121 SGD. That is ridiculous!

Cabs in Japan are generally expensive. This is partly due to their efficient and punctual public transportation system. Opt for taking the train or bus. Or better yet, you may explore the wonderful place by foot.

4. MAXIMIZE YOUR DINING BUDGET

There are two ways to save on Japanese food: you can either splurge during lunchtime or shop at the supermarket before closing time. Let us start with the latter. If you have access to the kitchen, you can cook on your own. Head to the supermarket at least 30 minutes before closing time to find amazing deals. The same idea applies for food courts and convenience stores.

Superb quality of food can be savored in almost every area in Japan. It is best to splurge during lunchtime as many restaurants give lunch discounts, especially on the weekdays.

Image Credits: pixabay.com

May these tips help you stretch your dollar while having an unforgettable trip! 🙂

Sources: 1, 2, 3 & 4

4 Cardinal Rules Of Budgeting

Managing your finances is not a piece of cake! Mixing motivation, perseverance, and careful planning is needed to keep everything in place. This is why people look for inspiration in books and online articles. With the abundance of resources and information available out there, you can build a massive library.

As you select certain strategies and ideals to follow, here are some of the personal finance rules that you must consider.

#1: A LITTLE GOES A LONG WAY

Start embodying the mindset that small actions eventually adds up. This slow yet steady progress is called Incremental Growth. You will notice that incremental changes pay off in the long run as you track your cash flow. For instance, cutting down on alcoholic beverages can make a significant difference at the end of the month.

#2: PAY YOURSELF FIRST

As a habitué of finance websites, you may have encountered this phrase: “pay yourself first”. This popular statement refers to routing your contributions from each paycheck that you received (e.g., automating your retirement contributions). Doing so entails that you mentally established “saving” as a priority. You are more important than any expense categories.

Most people spend their money first and save the extra later on. But, why must you turn the tables around? For starters, keeping a portion of your money reduces the temptation of overspending and improves your chances during emergency situations.

#3: FOCUS ON THE DEBT

It is challenging to save if you have a mountain of debt to hike. Before you start creating a realistic budget, you shall set a strategic plan to resolve your outstanding debt. Any lingering credit may ruin your financial goals. The sooner that you diminish the negative, the more time you will have for the positive.

#4: YOU ARE THE CAPTAIN OF YOUR OWN SHIP

You are in control of your wealth and not the other way around. Perceiving yourself as the “captain or master” helps to instill accountability over your spending habits. With financial awareness, it is harder to let money flush down the drain.

Image Credits: pixabay.com

Sources: 1, 2, & 3

How To Land A Job In The Modern Times

What is the best way to gain the attention of the esteemed recruiters? Consistently dropping your CV in the company’s e-mail? Or perhaps, you can dive into the fresh trend of using social media. The latter is your best bet yet!

Through smart networking and creative strategies, you can get your dream job. Here are just some strategies to keep you busy:

1. ACE YOUR PROFILE

Treat your social media profiles as your striking headlines because potential employers will see these first. Highlight your key skills and prior experiences by adding sufficient information in the “Biography (Bio)” or “About Me” section. For instance, Facebook allows you to include your previous titles by editing the “Work and Education” tab.

Complete your profile by attaching a high-quality and professional photo.

2. USE THE PROFILE’S DIRECTORY TO YOUR ADVANTAGE

If you follow the coveted company’s page on Twitter or Facebook, chances are, they are linked to the current employees and employers. Follow or send a friend request to these people and treat them as your inside source. They may post job vacancies to their feeds or walls before these vacancies are widely advertised.

During the job interview, you will have a rough insight about the company and will be able to find a common ground with the interviewer.

3. BE PROACTIVE IN THE CONVERSATIONS

Take part in the healthy discussions related to the industry or the company that you have been eyeing on. You may share an article that interests you, comment on interesting threads, or open a discussion on your profile. Engage your followers by asking stimulating questions.

Respond to these comments to get a holistic perspective about a company or an issue.

4. STAY PROFESSIONAL AT ALL TIMES

Facebook is usually the first platform that hiring managers visit to get an idea of the “real” you. So unless you want them to know about your addiction to Laksa and Adidas sneakers, you must keep your profile professional at all times.

No matter how much you calibrate your privacy settings, your so-called friends can still screen grab your posts. Be careful what you put online! Remember that many of your future employers will be using social media to spy on you.

5. CREATE AN INSTAGRAM ACCOUNT

Hiring managers know that Instagram is one of the main tools that younger generations use today. To look for young talents, they post ads on Instagram. Just search through the keyword “#singaporejobs” to find lots of entries!

You may create an Instagram account that focuses on your brand. Say that you want to work in Singapore’s fashion industry. Stay ahead of the crowd by showing off your unique style through regular snaps of your #OOTD. Do not forget to tag the company’s products in the picture. This is one way for them to notice your talent and to appreciate your free publicity.

Image Credits: pixabay.com

Friendly reminder: Use the power of technology with caution. You do not want to get scammed or mistreated because you let your guards down. 🙂

Small Financial Achievements That You Should Be Proud Of

It comes as no surprise that many Singaporeans immediately turn to social media to share their achievements. Facebook and Twitter “walls” are bombarded with celebratory posts and pictures. If you feel that you have nothing worthy to share, think again! Our lives are full of achievements on a smaller scale.

Take these humble financial achievements into consideration:

SETTING UP A SUFFICIENT EMERGENCY FUND

If you are done building your emergency fund then, I am proud of you!

An emergency fund is a safety net that will cushion emergency expenses against high interest debts and bankruptcy. It is not entirely for you as you can use it to provide for your family members who are in need. The certain amount depends on your current situation. For instance, a married couple can merge their contributions and divide it into half. While, unwed individuals must cover at least half a year to stay afloat.

According to a Bankrate.com poll, participants from the younger generation did not appear to be less inclined to build their emergency funds than their senior counterparts. This goes to show that more people are opening up to the idea of shielding their future. Saving up while you are young will benefit you because time is on your side.

DEVELOPING THE HABIT OF TRACKING YOUR SPENDING

If you religiously track your spending, you must keep it up!

Noting down your daily or weekly expenses is a tedious chore, but it can help you manage your wealth efficiently. The primary reason why you need to do this is to create financial awareness. You need to know where your money is going in order to change your unhealthy spending habits. It is as simple as minimizing the income wastage.

Furthermore, it allows you to see if your spending habits match your financial priorities. Make sure to spend within your means.

ORGANIZING YOUR MONTHLY BILLS

If you are on top or ahead of your monthly bills then, you are doing your credit score a favor!

Organizing your bills goes hand in hand with the above bullet. This may either be done digitally or manually. Choose to scan your bills after you have received them and after they are paid. Store these papers in a secured hiding spot. Alternatively, you may save the scanned documents in a designated folder on your computer.

To make sure that you never miss a deadline, you may set up an auto-pay service within the companies that you pay bills to.

CONQUERING ALL THE ADDITIONAL FEES

You are fed up with the additional fees and made some adjustments with your lifestyle. I salute this action!

Being careless with your finances is forgivable in your early 20’s when you are not fully equipped with the financial knowledge and resources. As soon as you move forward in your life, you must aim to pay for what you will actually use.

For instance, it may seem insignificant to incur extra fees for withdrawing cash from an ATM that is not from your bank. However, walking a few blocks to find the right machine can save you at least S$5 (that can purchase you a meal from Kopitiam). Make simple alterations in your lifestyle in order to avoid additional fees.

PURCHASING WHAT YOU SAVED UP FOR

Congratulations! You did not give in to the temptation of swiping your credit card to complete the purchase. Instead, you eliminated unnecessary expenses and set aside cash for weeks. There is something satisfying about finally getting an item that you spent a lot of time saving for. Savor this positive feeling.

Image Credits: pixabay.com

Acknowledging seemingly small victories helps you to picture a progress in your financial journey. Psychologically, it elicits positive emotions and perceptions. The more individuals experience the sense of progress, the more likely they will be motivated and productive in the long run.

Notice these humble achievements and be proud of yourself!

Sources:1 & 2

Surefire Ways To Gain Financial Willpower

If you lack self-control or you are low in willpower, you may constantly catch yourself wondering where your paycheck went. Give these three strategies a sincere shot! You will be glad that you tried.

TAKE ONE STEP AT A TIME

To understand how willpower works, you must imagine stretching a ribbon for seven days straight. The ribbon will eventually tear. The same principle applies to your willpower – “it loses its strength when you exhaust it”.

Image Credits: pixabay.com

Willpower affects the way you spend. Compared to people who have not exerted their willpower, people who are running low on willpower spend an increased amount of money and purchased additional items. It goes to show that multiple decisions can test your willpower’s strength. Thus, it is best to take one financial decision at a time. Do not overwhelm yourself!

CHOOSE A TRUSTED ALLY

Having a depleted willpower is not a problem because you can always search for someone whose willpower is stronger than yours. Choose a trusted ally that will support you for a common financial purpose. The ally may either supervise you or help you regulate your money.

If you trust the person enough (e.g., your parent or spouse), ask him to keep your money and not give it back until you have reached your goal. Alternatively, the person can regularly ask you how much you have saved and spend in the past two weeks. Be careful who you trust!

LEAD A CASH-ONLY LIFESTYLE

One of the primary reasons why institutions advocate credit cards is that it has the ability to distract the holder from how much they are spending. This is problematic for people who lack self-control or are low on willpower. They can pay their monthly bills thru credit without realizing the consequences of their purchases, until their minimum credit card bills became huge. It will take them years before they can pay off everything!

Image Credits: pixabay.com

The solution for this scenario can be as simple as leading a cash-only lifestyle. If you do not have enough cash to cover an expense, then you must skip it or save enough money for it. Commit yourself to this lifestyle for at least eight months. When you know what you are doing, you can eventually use credit in a smart way.

Sources: 1, 2, & 3

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