MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

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

Chinese New Year Deals That You Do Not Want To Skip

Chinese New Year 2017 (CNY) is merely 8 days away. Abundant food, bright decorations, family reunions, and little red packets will grace Singapore once more.

Here are some of the exciting deals that you do not want to miss:

REWARDING DINING EXPERIENCE

Singaporean families generally usher the Chinese New Year with the warm presence of each other. Gatherings and reunions occur from the first until the second day of the CNY. This is why your dining expenses may be overwhelming. Fortunately, Standard Chartered Bank has your back!

Standard Chartered lets you savor a hearty feast with the “2017 Chinese New Year Dining Cashback Promotion”. Enjoy 15% cashback when you charge your registered credit card from now until February 28, 2017 (T&Cs apply).

HARMONIOUS FAMILY GATHERINGS

Speaking of the eating dynamics, CNY festivities will not be complete without the perfect Yu Sheng. Yu Sheng or Prosperity Toss consists of raw fish strips fused with shredded veggies and varied sauces. Its traditionally consumed during CNY in Asian countries such as Singapore, Malaysia, and Indonesia.

Celebrate the promising “Year of The Rooster” in a true Blue Lotus style by taking advantage of its communal-style set menus. Families and companies are welcome to try the Harmony (about S$68/person), Prosperity (about S$88/person), and Longevity (S$108/person). Each set begins with the Tea-Smoked Norwegian Salmon Yu Sheng. It will be followed by other dishes that were crafted by the highly acclaimed Owner and Chef Ricky Ng. Reserve a spot by calling +65 6339 0880.

ONE-STOP SHOP FOR THE ESSENTIALS

Dreaming about getting your supply of delectable goodies and festive decorations in one spot? Turn your last-minute fantasy into reality by hopping to the “TANGS Chinese New Year Fair” at the VivoCity Central Court.

Feast your eyes and taste buds as you travel through the busy ailes. Maximize your wallet’s capacity by participating in the “Festive Lucky Draw” for a chance to win attractive prizes. Almost all of the shops inside the mall are currently having their CNY promotions as well.

LUCKY YEAR OF THE ROOSTER

Sentosa boasts a goldmine of exciting activities and picturesque landscapes. It holds a special place in my heart as I visited the island during special occasions. Why shall CNY be any different? For starters, they are rewarding selected individuals.

Image Credits: facebook.com/sentosaofficial

Locals and Permanent Residents born in the Rooster Year shall rejoice! Simply present your IC at the Sentosa Station redemption booth from this Saturday to Sunday to reap free Island Admission Ticket and Singapore Cable Car Sky Pass. You can enjoy these rewards between January 28 to 30, 2017 (T&Cs apply).

Surefire Ways To Nurture Your Child’s Marketing Abilities

The core of your business’ success relies on its marketing. Teach your beloved ones the marketing skills that they needs to thrive throughout their lives!

Do so while you have the luxury of time.

WATCH COMMERCIALS AND OTHER ADS

Children do not have the capacity to carry a stable job nor do they have the ability to budget money. However, they can influence how you spend it. Savvy marketers know this! For instance, expensive products for kids are usually placed in lower rack to meet their eye level. Television marketers focus on producing more content for toys, candies, computers, and so on.

Commit at least once a week to introduce the potent effect of advertising to your suggestible children. Select some commercials or ads to ask the following questions:

a. WHO was the intended audience?
b. WHAT was the description of the product or service?
c. WHY was the ad placed during or between this show?
d. HOW did you feel about the commercial or ad?

KNOW DIFFERENCE FROM REALITY AND FANTASY

Aside from discussing the detailed content of the commercials and other ads, you must create a distinction between reality and make-belief. It is easy to be trapped into the advertiser’s magic, if you do not know what to watch out for. Tell your children that there is more to advertisements than what meets the eye.

Image Credits: pixabay.com

Discuss the various types of commercials on radio, television, print, and online. Help your children label these said ads so that they become less susceptible to the marketers’ influence.

CREATE CATCHY SLOGANS AND TUNES

Your dedication has led your children to understand the effect of advertisements. To absorb the essential marketing abilities, allow them to make their own catchy slogans and jingles. These activities will help the potential entrepreneurs to use their resources to create significant marketing tools that will make a particular product rise above the pack.

Without valuable customers, even the best businesses will fail. Introducing this topic to your children can prepare them to attract loyal customers for their future businesses.

TRANSFORM THE OLD INTO THE NEW

As you may notice, existing brands are constantly thinking of ways to improve their products and to satisfy their loyal customers. The longstanding OREO boasts with a variety of unique flavors such as Banana Split and Birthday Cake.

Ask your child to apply this idea by putting his or her own spin into a popular product. This activity is a good way to maximize his or her own creativity as marketing heavily depends on innovation.

Image Credits: pixabay.com

Sources: 1, 2, & 3

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