MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

How Some Singaporeans Welcomed The Prosperous Li Chun

Last February 4, waves of people conquered queues at the banks and the cash deposit machines across the nation.

Why? You may promptly ask.

It is because practices of Li Chun (Farmer’s Day) fall on that day. Li Chun traditionally signifies the beginning of Spring in numerous Asian cultures including Singapore. On this day, farmers celebrate with special events, offerings, and rituals to welcome a successful and blissful new year.

While in recent years, some Singaporeans believed that banking in money on Li Chun can ensure good fortune and help grow their wealth. Furthermore, a superstition dictates that wearing a red top on this “auspicious” day can bring luck!

According to the charts available online, there are four two-hour windows designated for each individual to withdraw cash. The varied “lucky hours” are based on the person’s Chinese Zodiac Sign or the year they were born. This is why a number of brave souls were seen falling in a long queue for the whole course of the day.

Some banks and companies were aware of the popularity of this practice to the point that they have had things prepared beforehand. Two key players were United Overseas Bank (UOB) as well as DBS/POSB banks.

A spokesman for UOB shared that the bank had incorporated more services and staff to handle the higher demands of that day:

“Longer queues were seen at our cash deposit machines after 3pm, as it was the auspicious timing to usher in the year of the Monkey.

To ensure that our customers had a good customer experience, we catered for extra manpower at our branches, and also ensured that cash deposit machines were serviced and emptied to accommodate the extra volume of cash deposits.”

Then UOB stepped up their services by adding special seated queues for elderly, pregnant woman, and disabled.

On the other hand, about 10,000 DBS/POSB employees had their February salaries credited to their account last Thursday. According to Theresa Phua, DBS Bank Singapore Head of Human Resources, the bank had been crediting salaries before Chinese New Year in order for their valued employees to enjoy the festivities well.

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1, 2, & 3

6 Quick And Easy Fixes To Maintain Your Happy Home

Did you know that you can solve your household problems without calling for backup and paying expensive service fees? If you do not believe me then, you may change your mind as you try these 6 simple and inexpensive home maintenance tips:

WALLS

1. PEELING WALLPAPER

To fix a peeling wallpaper, you must apply wallpaper paste or wallpaper adhesive on a paint brush. Cover the entire wall with it especially the ends. Smooth everything down with clean hands or a roller. You may purchase the Eliane Extra Strength Wallpaper Paste (250 g) for S$25 at Korean WP.

2. HOLES IN THE WALL

Fixing the holes in the wall differs for large and small cracks. For larger cracks you will have to cover it up with wall filler or spackling compound that is available for about S$5-7 at the hardware store.

While, to fix the white wall blemishes that are smaller than 1/4 inch wide, try covering it up with plain toothpaste. Put enough to fill in the whole and scrape off the excess with a knife.

FLOORS

3. RESTORING ITS SHINE

To restore the luster of flooring, you must polish them after they have been mopped. Use microfiber cloth or clean cloth diapers to get the job done while skipping too much cleaners.

4. UNEVEN WOODEN FURNITURE AND FLOORS

To avoid sanding the whole floor or table to smoothen it up, try this simple solution. Spread a wet towel over the scratched or uneven area then place a hot flat iron on the top then move it in a circular motion for 3-5 minutes. Color it with varnish afterwards if you want.

DOORS

5. NOISY SLAMMING DOOR

Who else hates the loud slam of doors aside from me? Thankfully, you can soften the blow by placing a rubber band around the doorknobs on both sides. Do this without covering the latch.

6. DIFFICULT SLIDING DOORS

To smoothen the move of the sliding door, you must clean the debris that are jammed within the track and the wheels. Clear it all by running a paintbrush or vacuum along the track.

BONUS! LIGHTS

Image Credits: pixabay.com (CC0 Public Domain)

Save money on light bulbs by replacing it only when the time is right. It is appropriate to change the bulb if it overheats, spoils, and overspends (having high-energy consumption). Also, you must replace the bulb if its color and power are not enough for the to accomplish the tasks in a particular room.

Sources: 1 & 2

Best Credit Card Promotions To Usher In The Lunar New Year

Be a cheeky monkey who maximizes your prosperity with these great credit card offerings for the year 2016…

1. STANDARD CHARTERED

Standard Chartered rewards you with 15% CashBack wherever you feast this Chinese New Year. From 16th January to 15th March, you can get rebates once you are charged with a minimum of S$688 on your total spending courtesy of your credit card (not limited to dining bills).

Go to sc.com/sg/campaign/cardscny for more information about its Terms and Conditions.

2. HSBC

Aside from getting S$8 Hong Bao cash rebates daily with HSBC credit cards (till 29th February – T&Cs apply), you can enjoy a wide range of promotions from dining, shopping, and travel.

a. 15% off Yu Sheng and Pen Cai Takeaways
b. 15% off storewide when you shop at ZALORA Singapore
c. Up to S$50 off selected items at AngelFlorist.com
d. Additional 8% off bookings on Singapore hotels and more at Agoda

Simply go to hsbc.com.sg/cny for more details and other festive offers.

* EXCLUSIVE: SIGN UP FOR A HSBC’S REVOLUTION CREDIT CARD AND RECEIVE A SAMSONITE RED ROBO LUGGAGE 
WORTH S$335 OR A REDMART GROCERY VOUCHER WORTH S$80! T&CS APPLY. CLICK HERE FOR MORE INFORMATION.

3. DBS

DBS credit cards also reward you for your dining experiences. Here are some of their delicious offerings:

a. 20% off orders at foodpanda.sg. Valid until 22nd February.
b. 20% off the Lunar New Year Dinner Buffet at Brizo Restaurant & Bar – Park Hotel Clarke Quay. Valid until 22nd February.
c. 15% off lunch or dinner buffets at Grand Park City Hall. Valid until 19 February.

4. OCBC

OCBC credit cards will reward you with a tempting array of promotions that will keep you covered this festive season! These are my top picks:

a. 15% off takeaway CNY Treasures at Goodwood Park Hotel. Valid until 22nd February.
b. 10% off regular priced items at TAKA Jewellery. Valid until 28th February.
c. 10% off apartment and villa rentals in Asia and Europe courtesy of Roomorama. Valid until 29th February.
d. Get a Bioskin Radiance Bundle for only S$38. Valid until 29th February.

Image Credits: facebook.com/OCBC.Singapore

Visit ocbc.com for more information about the Terms and Conditions.

5 Major Money Lies That Can Tear Your Relationship Apart

The fundamental basis of marriage is trust. And when one or both parties breached that trust, it harms the relationship. As family law attorney, Steven Mindel once said: “Financial infidelity is the root cause of many crumbling unions.”

Prevent this crumbling from happening by knowing the 5 Major Money Lies That Can Tear Your Relationship Apart:

1. “IT IS JUST S$60!”

One of the most common financial lies that people are guilty about is lying about one’s spending. Instead of admitting that you bought a S$68 dress, you would round off its price to S$60 as it seems easier to accept.

I have to admit, I had done this a couple of times during my teenage years. I just did not want to tell my mother the whole truth due to the irrational fear of her getting mad at me. Applying the same childish notion to your marriage does not build a mature relationship! It is an unfair approach to spending the money that you both worked hard for.

2. “I ONLY HAVE ONE BANK ACCOUNT!”

Another financial infidelity case that experts see most of is hiding a secret stash. Having a separate bank account is acceptable but, you have to tell your spouse about it.

According to Nancy Butler, a certified financial planner and divorce financial analyst, one of the telltale signs that your partner is guilty of this offense is when you received a bank statement for an account that you did not even know existed.

3. “I PAID THE BILLS ON TIME.”

Sometimes, work and home stress can consume you to the point that you forget your responsibilities such as paying the monthly utility bills. To avoid confrontation, you immediately said that you settled everything already. By doing so, you can experience damage to your credit history as well as penalty fees.

4. “ALL OF MY MONEY GOES TO US.”

Growing up in an Asian household where family is one of the top priorities, it is hard not to help a family member in need. It is hard to be in a situation wherein you are thinking of your financial health while feeling responsible for that of the others.

These type of lie may come from the people who hate lying but they do not know how to handle the situation.

5. “WE ARE ABLE TO AFFORD THIS DEBT.”

In most cases, going further into a pile of debt is never a good idea especially if one of two parties is not even aware of it. Keeping your bad credit score or debt history from your spouse may lead him or her to taking on more credit. Instead of purchasing a home within your means, your partner goes beyond it due to the assumption that you both can afford it.

Image Credits: pixabay.com (CC0 Public Domain)

Telling your partner that you already have a budget for your debt is only misleading you both.

Sources: 1 & 2

4 Absolute Ways To Spend Less and Save More This Valentine’s Day

Think your wallet can rest after the costly festivities of Christmas and Chinese New Year? Think again as we usher the season of love!

While Valentine’s Day is a great way to appreciation and affection to your significant other, I cannot deny the fact that the anticipated costs may cause a hole in your pockets. This year, however, you can turn things around if you are willing to put in creativity, time, and flexibility.

1. SAVE THE SPARKLES FOR LATER

If you are planning to purchase jewelry for your beloved, try to clamor dry out first. Since the demand for jewelry goes way down after 14th February, the retailers offer discounts to attract customers to buy their remaining products.

The only downside is that you have to discuss this with your partner in advance and seek his or her understanding.

2. AVOID THE CROWDS

Valentine’s Day 2016 is on a Sunday and more than ever, shopping malls and restaurants will be populated. Most places are jammed with couples and women holding on to their bouquets or stuffed animals. Beat this “competition” by scheduling a wonderful date on another day as long as your significant other is fine with it.

By doing so, you had avoided the crowd and maximized your savings.

3. OPT FOR AFFORDABLE FLOWERS

Since some people prefer getting blooms for Valentine’s Day, you would have to plan beforehand. Save money by skipping high-end or mainstream florists. Instead, visit your local grocery store or compare the prices of various online flower shops.

Image Credits: instagram.com/agoncilloanna

And if you are in the Gardens By The Bay area, I was got a bouquet of orchids there for only S$5.

4. CRAFT YOUR GIFTS BY HAND

What better message of love can you convey when you pour your heart on handmade gifts? Consider these gift ideas:

a. COOK TOGETHER

There is nothing sweeter than sharing your interests to your partner. If you are a fan of cooking and baking then, teach him or her the basic recipes and techniques. But, if neither of you have an expertise, lookup free online tutorials and prepare a V-Day dinner together.

b. SPECIAL CARD

Bring your wonderful memories to life by turning photos into very personal V-Day card. Print his or her favorite Instagram photos in JPEG format using glossy or matte photo papers available for as low as S$2 at Popular bookstores.

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1 & 2

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