MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

How To Earn Decent Money Using Your Smartphone

Before I plunged into the online freelancing, I never fully understood why companies are willing to pay for individuals who can participate in various activities. Said activities include shopping online, watching videos, reading advertisements, or using smartphone applications.

Soon I realized that the online competition is fierce. So, companies needed to reach their customers using creative ways. They need us! Download from a wide selection of apps to earn money from your product or service.

BY DRIVING PEOPLE AROUND

Uber – Available on Android and iOS

Are you sufficiently familiar with the Singapore roads and regulations? Consider earning extra money by becoming a cab driver. Having a car is not a strict requirement as many Uber drivers rent their cars. In fact, Uber Singapore has a list of preferred rental partners.

Uber, an app founded in San Francisco, connects drivers to riders. Its worldwide demand is growing as the days go by. There are many advantages to becoming an Uber driver. Firstly, it can earn you a decent amount of money. For instance, full-time drivers reportedly make about S$2,500 per month after all the deductions.

Secondly, you get to enjoy the flexibility in your schedule. There is no minimum or maximum hours of work. Lastly, you are in control of where and when you want to work.

BY SELLING YOUR THINGS ONLINE

Carousell – Available on Android and iOS

More and more Singaporeans are making quick bucks by selling their underused, preloved, or unused items online. Scavenge through your home to spot anything valuable. From books to clothes and furniture to paintings, you can take advantage of Carousell.

Carousell is a global marketplace app with a simple premise. Users start by snapping and describing their items. Then, they will chat with potential buyers to close the deals. Seek a form of payment that is convenient for you and the client. Some people prefer to meet-up, while others opt for wire transfers.

BY JOINING THE PACT

Pact – Available on Android and iOS

Looking for an efficient motivation to help you follow through your weightless resolution in 2017? The search is over as GymPact brings you the Pact app! It has been featured on The New York Times, CNN, and ABC News.

Image Credits: pixabay.com

Pact allows its users to pledge a specific amount alongside the set of days that they plan to work out. Users who do not stick to the said goal must pay for each day they miss. You earn cash for staying healthy and get paid by “inactive” Pact members. Are you up for the challenge?

BY COMPLETING VARIOUS TASKS

Upwork – Available on Android and iOS

Modern technology reinvented the cubicle-bound workplace with the introduction of freelancing. There are websites and applications that allow people to reap the opportunities for online freelance work. You can easily accomplish these tasks from the comfort of your own home.

Upwork (previously called as Odesk) can help you whether you are an expert in writing, administrative work, marketing, advertising, legal work, illustrating, engineering, or web design. Payment is painless because Credit Cards, PayPal accounts, and Bank Accounts are accepted. Download the free app to see for yourself.

BY SUBMITTING YOUR PHOTOS

EyeEm – Available on Android and iOS

You do not need to carry bulky professional cameras in order to capture stunning moments. Today’s smartphones are equip with high definition cameras with sound quality. For instance, the iPhone 7 showcases an innovative camera that includes the ability to capture in low light and in RAW photos.

Turn your artistic vision into cash by downloading EyeEm right from your phone. EyeEm is one of the largest photo-markets, with over 18 million creators worldwide. You can sell your photos for approximately S$28 (US$20) to S$350 (US$250). It is not that bad!

Image Credits: pixabay.com

What’s more? All of these apps are FREE!

Sources: 1 & 2

Can changing your name actually lead to better fortune in your life?

Singaporeans usually need a good reason if they want to change their names. They don’t usually change their names on a whim and fancy, and most people won’t change their names more than two times during their lifetimes.

There are different reasons why people change their names in Singapore. Some people can’t stand their hanyu pinyin names and want it removed. Some people want to add an English name if they weren’t given one at birth and some people think that changing their names can actually lead to better fortune and prosperity in life.

In particular, those Singaporeans who believe in feng shui tend to be the ones that believe that a well chosen name can lead to a fresh start in life, as well as be a significant reason for success in life itself.

These people usually believe that their existing names do not support their “Ba Zi”, a Chinese system of fortune-telling. This system is based on the 12 stages of the life cycle and the inter-relationship of the constructive and destructive cycles of the 5 elements.

In Singapore, there are many geomancers who provide such naming services and there is a large contingent of Singaporeans who have changed their names based on such belief, including a number of local celebrities. For example, some local celebrities such as May Phua and Edmund Chen have changed their names. It has even been mentioned that Zheng Ge Ping enjoyed greater career success after changing his name!

So can changing your name actually lead to more career success and prosperity in your life?

There are some people who swear that the first step on the road to their success in life was through changing their names. There are also those who are highly skeptical of such claims. Personally, I believe that people create their own lot in life. Naturally driven and motivated individuals may seek out every additional avenue to achieve success, and such avenues could include changing their names after consulting a feng shui master.

Perhaps it’s not necessarily so unusual that such people would go on to achieve the career success and prosperity they sought in the first place.

How do you go about changing your name in Singapore?

If you have set your mind on changing your name in Singapore, and consulted a feng shui master on the most appropriate name for yourself, that’s not the end of the name changing process. You’ll still have to find a lawyer or law firm to execute a deed poll for you.

Essentially, what this means is that you’ll have to sign a document drafted by the lawyer or law firm stating that you wish to change your name, and this document has to be signed in the presence of a lawyer. After that, you’ll have to head over to the Immigration and Checkpoints Authority to register your new name and to change your NRIC identity card.

Author Profile: Shen is a writer for Deed Poll Singapore, a website where Singaporeans can find affordable Singapore deed poll lawyers.

Five Secrets To Handling Your Finances As A Couple

Managing your finances together can be tricky when you are in a committed or serious relationship. However, you can employ several strategies to avoid headaches and arguments surrounding money.

#1: DISCUSS ABOUT YOUR FINANCIAL GOALS

There are a handful of Singaporeans who tackle life from paycheck to paycheck. These people deal with the expenses as they come without forethought about their retirement fund. Do you want to be in the same situation?

You have to realize that financial stability is important in strengthening the future that you want to build together. So, start by establishing at least three financial goals. These initial goals are short-term and realistic. Whether you want to save up for a getaway in Bali or a broadband bundle, your short-term goals will serve as an encouragement to take on bigger goals that will lead up to financial security.

#2: KNOW EACH OTHER’S FINANCIAL STATE

Tying the knot or living with someone who has a bad credit score may affect your finances. Imagine taking out a mortgage. Your partner’s credit rating may affect the potency of your combined credit score. This is not good!

Mutual disclosure can help you reduce conflicts over financial matters. As early as possible, carefully examine each other’s financial state and exchange useful tips. Are there any spending habits that you want to help your partner with? Do you have some outstanding student debts? Familiarize yourself with his or her deeply rooted attitudes and habits toward money.

#3: CREATE A MUTUAL UNDERSTANDING

As a couple, aim to distribute the control of your finances equally. Educate your partner about the facets of personal finance no matter how uninterested he or she might be. Financial literacy is necessary.

Aside from mutual disclosure, mutual understanding is crucial to your success. This means that you need to be aware of what you two can and cannot afford. Furthermore, you must contemplate on the process of dealing with unfortunate events.

#4: MAINTAIN JOINT AND INDIVIDUAL ACCOUNTS

A couple’s joint account is primarily used for shared expenses such as groceries, utility bills, phone bills, and mortgage repayments. Maintain this along with your individual accounts. You are entitled to a separate account because you must treat yourself or your partner personally without affecting the “household fund”.

You might say that this burns the bridges of sharing, but not really. The foundation of having individual accounts is that both would have access to each other’s account to prevent from keeping secrets. Spending beyond the threshold of your personal account is something that you need to discuss with your beloved first.

#5: DIVIDE YOUR MONETARY RESPONSIBILITIES

Compromise could be your best bet when you are sharing the responsibility for your finances. This goes hand in hand with the above statement. Having a joint account and two separate accounts helps to keep your independence and to stick with your budget.

Here are just some things that you must contemplate on when you are dividing your monetary responsibilities:

a. What are the bills that you want to pay using your joint account?

b. How much shall each one contribute to the joint account?

c. Which of your partner’s spending habits do you want to keep and to ditch?

Image Credits: pixabay.com

May these tips help you to foster good financial management habits as a team!

Sources: 1 & 2

How To Balance Your Busy Work And Blossoming Romance

No one ever said that cultivating a successful career is easy. Throwing the element of romantic relationship into the mix may make things more challenging. But, you can survive it!

SET YOUR PRIORITIES STRAIGHT

Many Singaporeans choose to shift all their resources to professional aspirations. There is nothing wrong with that. But, isn’t it more fulfilling to share your promotion with someone special?

For those of you who agreed, consider prioritizing both your work and your relationship. Prioritizing one thing over the other does not entail that you have to sacrifice entirely. It just means that you have to commit to temporal adjustments. Start by building a strong ground for both your professional and romantic life. When your employer and your significant other understand that they are mutually valuable, disruptions when priorities shift may not be a problem.

STAY UPDATED

The capabilities of social media are not limited to sharing adorable cat videos to your friends. Its primary purpose is to reach out to the people whom you care for. Allotting a significant amount of time at the office in unavoidable. It is a part of your responsibility as an adult. However, ruining your relationship because you are occupied by your job is avoidable.

Spare at least five minutes to write a sweet message to your significant other via Facebook. You may even send a quick video on WhatsApp. Or, you may call each other before going to work. Simple gestures can make your partner feel appreciated, wanted, and loved. Furthermore, having someone’s support makes it easier to get through a busy day.

SPEND YOUR TIME WISELY

Managing your time is a crucial factor in creating a work-love balance. Personal issues can be avoided with a little forward planning. Let say that your career exhausts much of your time as it demands you to work long hours. As much as possible, plan a weekend getaway with your beloved. Do you fancy staying at these affordable and Instagram-worthy hostels in Singapore?

After this much-needed staycation, you will come back to the office energized. Spending your time wisely may show that you are both devoted to your career and your personal life.

STRENGTHEN YOUR FUTURE

More often than not, people stay committed to each other because they see a brighter future ahead. I am distinctly referring to couples who are in long-term relationships. Financial stability is important in strengthening the future that you want to build. Although the fantasy of winning the Singapore Pools Toto is attractive, but it can become a barrier to accomplishment.

Image Credits: pixabay.com

It is time to bring a reality check! Take serious steps toward financial stability. Write down your financial goals together and discuss your monthly expenses. Be aware of each other’s financial situation and current income.

Sources: 1 & 2

Top 5 Investments Business Owners Should Make

When you run a business, whether it’s a small start-up or a large corporation, you need to be confident in where you invest all company profits. Pumping a lot of the money back into the business is the place to start in order to help it grow and remain profitable. Yet there are many other areas in which you can invest as a business owner that will provide dividends to gain further profits for strengthening the firm. Here are five of the best investments for business owners to make.

Penny Stocks

Especially for start-ups, new and small businesses, penny stocks are a great place to start for any business owner making their first investments. These are companies that trade with exceptionally low share prices (usually £3 or less), which means a lot of shares can be invested in with a low amount of capital. They are a highly volatile investment but do make a great starting place for learning the basics of investing.

Forex

If you want to find a reputable way of making some extra money for your business by investing profits, then forex trading with Fx Pro is a good option. There are a number of safe currencies to invest in during times of uncertainty, or more risky choices if you’re feeling brave. For beginners or experts, it offers a good way to boost profits across international currency markets.

Equity

Buying an ownership stake or equity investment in another company can provide additional capital for your firm. Obviously, it is highly inadvisable to invest in any competitors. Finding a successful company or one that is on the rise to take an ownership stake can result in good percentage profits for your business, as long as it doesn’t perform poorly or go bankrupt.

Property

Real estate is a great way to enter an entirely new market and with house and rent prices still rising, it can be incredibly lucrative. It may be better to invest in commercial property, related more to your business though, such as buying your office rather than renting if you have the profits. This provides a useful asset and one that will hopefully grow in value.

Bonds and Mutual Funds

For long term, safe investments bonds and mutual funds are the go-to option. Government bonds are some of the safest investment options out there, while mutual funds can be found that have low risk attached to them. They provide a good place to learn about market trends without the risk of losing big in one go.

Consider these five investments if you’re a business owner looking to put your profits in a worthwhile place.

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