MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Boost Your Health And Wealth Through Running

It is never too late to catch up on your “2015 New Year’s Resolution”!

And if losing weight or keeping a healthy physique is a part of your list, try crossing it out by running regularly. Running is a convenient and affordable option. You can do it almost anywhere without the need of costly equipments – aside from a pair of running shoes.

There are fewer barriers in maintaining a running regimen too! I know this personally because my sister and I make it a point to run outdoors as much as possible. Aside from this, running boasts with many benefits from strengthening your finances to overall health!

Read for yourself:

1. WEIGHT LOSS

High-intensity exercises stimulate more “afterburn” of calories than low-intensity exercises. In fact, a long-term comparison study of runners and walkers showed that calories burned through running resulted to 90% more weight loss than walking. Thus, running regularly helps you to shed and maintain your desired weight.

If you are still skeptical, here are 15 inspiring weight loss stories aided by running.

2. ENHANCE YOUR HEALTH

Running regularly has been shown to improve cardiovascular fitness, strengthen the muscles, and increase the levels of good cholesterol. It also aids in building stronger bones, as it is a weight-bearing exercise.

With health benefits like these, how can you not love running?

3. REDUCES STRESS AND DEPRESSION

Aside from its physical benefits, running radiates emotional benefits too!

Running outdoors and feeling the glimmer of the sun can make you feel better. Getting at least 30 minutes of exercise a day (5 times/week) can alleviate the symptoms of depression and sunlight reduces stress and improves one’s mood, according to the researchers from University of Pittsburgh and Carnegie Mellon University.

What’s more? Since running helps emit endorphins or “happy hormones” without the need of prescription drugs, you can reduce the symptoms of depression naturally.

4. HELP YOU EARN MORE

If you are still contemplating on whether or not you must run or not then, you must know that regular exercise helps to increase your salary.

In 2012, a study published under the Journal of Labor Research found that employees who exercise regularly earn 9% more than their lazier or sedentary counterparts. This may be due to the enhanced mental function, energy levels, and mood. These improvements make them more valuable to their employers.

Image Credits: pixabay.com (License: CC0 Public Domain)

What are you waiting for? Grab a good pair of shoes and start running at your nearest town park!

Sources: 1, 2, 3, & 4

5 Surefire Signs That You’re Ready To Move Out

For a young working adult, staying at home with your parents seems like the perfect place to live in. Since the rent and food are usually free, you will be able to get a financial head start.

However, this living arrangement can hold you back if you want to live an independent and autonomous lifestyle. Think about it!

To help you, here are some signs to validate your desire to move out:

1. YOU ARE DONE ANALYZING YOUR CURRENT SITUATION

Renting or buying your own flat is one of the biggest investments you can ever make in your life. It is a long-term commitment that you should carefully analyze and plan.

Before deciding on whether you are renting or buying your own home, you must first know how much you earn, how much you can afford, and how much do you need. The type of flat you can afford to rent or buy depends on your income and savings. The exact amount of money you need includes the upfront payments and the monthly payments such as conservancy charges or housing loan installments.

You are only ready to move out when you are done examining your financial capabilities and done weighing your housing options.

2. YOU HAVE SUFFICIENT SAVINGS

In order for you to move into your own nest, you must have sufficient savings in your account. This savings is not only for your down payment but also for your emergency fund that compromises maintenance, repair, and moving expenses.

Image Credits: pixabay.com (License: CC0 Public Domain)

Since loans may take up a huge chunk of your income, it is advisable to have a sufficient cash at hand (amounting to at least four months’ worth of salary).

3. YOU HAVE ENOUGH MONEY TO PAY FOR DOWN PAYMENT

If you are purchasing a house in Singapore, the bank can give you a loan of up to 80%. This means, you will need to have 20% of down payment upfront. Instead of getting trapped in a credit hole, it is important that you can afford the down payment. And if you really cannot afford it just yet, you can either wait or find a cheaper place.

4. YOUR POTENTIAL HOME WILL NOT ELIMINATE YOUR ENTIRE CPF

As a working Singaporean, you are entitled with a comprehensive savings plan called the Central Provident Fund (CPF). This is mainly used for your healthcare, retirement, and housing needs. However, you must not blow it all on one area such as housing.

If you do not have other investment options to cover your lifespan then, it is not necessary to take the highest HDB loan possible just because you can.

5. YOUR PARENTS ARE ITCHING FOR YOU TO GET OUT

If you are constantly finding yourself in an argument over simple things especially the ones that pertain to the house rules then, it is time to consider moving out. Furthermore, if your parents are throwing subtle comments on you then, it is time to take the hint.

Moving out may be the suitable solution for you to keep your loving and peaceful relationships in tact.

Image Credits: Denis Bocquet via Flickr (CC License)

Aside from these signs, you must not overlook the pleasure and responsibilities of living on your own!

Sources: 1, 2, 3, & 4

4 Incredible Rags To Riches Stories

These people came from merely nothing but now they have a whole lot of wealth than the average person. Taking the leap of faith and believing in themselves led them to profit through adversity.

Without further adieu, here are four inspirational rags to riches stories:

1. HOWARD SCHULTZ

Raised in a housing project in Brooklyn, Starbucks’ Howard Schultz was a son of a struggling truck driver. Despite their poverty, he excelled at football. Fortunately, this earned him a scholarship to the University of Northern Michigan.

After finishing tertiary education with a degree in Communications, he worked for Xerox Company before discovering a small coffee shop called Starbucks. Filled with his love for coffee, he soon left Xerox and focused on becoming the chief executive of Starbucks.

Image Credits: pixabay.com (License: CC0 Public Domain)

As of today, his net worth amounts to US$3.2 billion (S$4.5 billion).

2. JOHN PAUL DEJORIA

As a first generation America, John Paul DeJoria and his immigrant parents had it tough from the start. His parents divorced when he was just 2 years old. By age 9, he and his brother began selling newspapers and greeting cards in order to support their family. Life did not come easy soon after as he lived in a foster home and become a part of a street gang.

Thankfully, he graduated secondary school and spent two years in the United States Navy. After which, he held numerous jobs ranging from a janitor to an insurance salesman. In 1980, things changed. He teamed up with Paul Mitchell and turned a US$700 loan into a hair-care company called John Paul Mitchell Systems. Now, it is known worldwide as the Paul Mitchell hair products with estimated annual revenue of US$1 billion (S$1.4 billion).

He is also the co-founder of the famed tequila company called “The Patron Spirits Company”. Currently, his net worth amounts to US$3.1 billion (S$4.4 billion).

3. ANDREW CARNEGIE

Who would have thought that a Scottish American with barely a dollar to his name would soon be the richest man in the world?

Andrew Carnegie migrated to the United States with his low-income parents in 1848. He then started to work as a telegrapher. 10 years later, he had investments in railroads, bridges, railroad sleeping cars, and oil derricks. Then, his wealth increased further as he worked as a bond salesman.

He became the world’s richest man in 1901. Aside from having a high profile, he was also a philanthropist. This is the reason why he gave away about 90% of his fortune (US$350 million in 1919 = US$4.7 billion in 2015) US to charities by the time of his death.

4. OPRAH WINFREY

One of the most recognizable faces in the world definitely did not grow up in a pool of luxury. American media maven, host, producer, publisher, actress, and philanthropist Oprah Winfrey was born in the Mississippi with her teenage single mother. She experienced hardships during her childhood such as being raped at age 9 and becoming pregnant at age 14. Unfortunately, her son died in infancy.

But these struggles only strengthen the young Oprah as she entered the halls of media in her first job as a newsreader in a local radio station. Later on, she got a daytime talk show in Chicago. The rest was history.

Persevering through life and diversity earned her a net worth of US$3.2 billion (S$4.5 billion)!

Sources: 1, 2, 3, 4, & 5

Despite Higher Wages, Thirst For F&B Workers Is Higher Than Ever

Regardless of the 5.6% increase in the wages of the accommodation and food services sector in 2013, Singaporeans are still keeping away from the jobs it offers.

In fact, job vacancies in this sector elevated from 5,010 in 2011 to 7,740 in 2014. Majority of these vacancies carried the positions of waiters, followed by food service counter assistants and cooks. Employers even added that these positions were hard to fill with locals.

To be fair, this is influenced by the ever so growing number of establishments. The Singapore Department of Statistics conducted a survey last year and found that there were about 6,750 establishments in the food and beverage (F&B) industry in 2013!

With overflowing establishments and lack of manpower, businesses may turn to other options such as outsourcing talents abroad or letting the employee perform multiple positions.

Nonetheless, if you are at the crossroads right now, it is good to contemplate on entering the welcoming arms of the F&B industry.

Image Credits: pixabay.com (License: CC0 Public Domain)

There are a lot of positions and wages you can choose from! Here are just some of them:

1. GENERAL MANAGER

Average salary per month: S$7,000

The restaurant’s general manager supervises all the employees and oversees the profile and loss of the business. The general manager does this by exploring the ways to cut costs and increase sales. Also, it is his responsibility to ensure that everything runs smoothly in the restaurant.

2. EXECUTIVE CHEF

Average salary per month: S$7,000

The executive chef is brain behind the kitchen operation. He or she is tasked to create the menu and recipes with the head chef, manage the product inventory, supervise the kitchen staff, and perform some administrative work. In most cases, this executive position does not require one to cook on a daily basis.

3. RESTAURANT MANAGER

Average salary per month: S$3,000

Aside from the day-to-day operations, it is the restaurant manager’s job to attend to the restaurant maintenance, customer complaints, staff hiring and training. Usually, the average pay for restaurant managers in hotels are higher by a couple of thousands.

4. HOST

Average salary per month: S$1,800-S$2,200

The host is in charge of assisting the guests to their designated tables and taking reservations from the guests. Also, they graciously handle the walk-in customers.

5. WAITER

Average salary per month: S$1,800-S$2,200

Waiters or service attendants set and clear the tables. They are familiar about the restaurant’s menu. In other restaurants however, waiters are divided into two groups namely: a.) to support the senior waiters and b.) to perform other tasks such as preparing the bread and coffee.

6. SOUS CHEF

Average salary per month: Differs per division

The sous chef is the next in line when the head chef is not around. He or she is the one you can count on when you need the extra help in the kitchen. Also, he makes sure that the qualities of the ingredients are maintained.

The sous chef position exists within a hierarchy that is divided into three levels namely: executive sous chef, senior sous chef, and junior sous chef. The average salaries per month respectively are S$3,600, S$3,200, and S$2,500.

Image Credits: pixabay.com (License: CC0 Public Domain)

Sources: 1, 2, 3, & 4

6 Awesome Storage Hacks To Extend Your Food’s Lives

You walk inside the grocery with your list at hand but after being tempted with the fragrant herbs, fresh bread, tantalizing sweets, and healthy greens…you walked out with more food than you expected!

To get most of your money and avoid wastage, how can you finish all these food before it spoils?

Not everyone found the answer to this question. In fact, each person in Singapore was responsible for about 130 kg of food wastage last 2011.

But the good news is that, this awesome list will bring you 6 storage hacks to increase the longevity of some of your beloved food.

1. CEREAL, OATS, AND PASTA

Keep your dry foods hard by not letting air to seep inside its containers. Use air locked containers to store dry food such as cereal, oats, and pasta instead of keeping them in their original packaging (boxes or plastic bags). Decorate and label the containers as you wish.

2. PEANUT BUTTER

The sweetened goodness of a peanut butter used for sesame balls, spring rolls, or plain bread can make the meal delicious. The trick to make your jar of peanut butter last longer is to flip it upside down with the cap sealed tight. This will allow the oil near the lid to move through the rest of your jar evenly. Also, it will make your peanut butter creamier.

3. SOY SAUCE

Soy sauce is a commonly used in Asian countries such as Singapore, Malaysia, China, Japan, Korea, Vietnam, Philippines, and Taiwan. Generally, soy sauce does not need to be kept chilled but putting it inside the refrigerator will help the flavor to remain at its prime quality longer.

4. AVOCADO

Instead of storing your avocado in a basket, store it inside your fridge to avoid over-ripening. And as the day of consumption draws near, pull the avocado outside the fridge. Then, let it finish its ripening process inside a paper bag.

5. ASPARAGUS AND SCALLIONS

Treat your asparagus and scallions like how you would treat your freshly cut flowers. Fill up a vase or a jar with about two inches of water and regularly trim these vegetables. Keep these veggies there until you are ready to cook them.

6. HONEY

I for one love the taste of the honey lemon drink. But I noticed something, leaving it in the fridge leads it to crystallize. This is unnecessary because enzymes in the bees’ stomach create by-products that fight bacteria, honey can be preserved for a lifetime.

So revive your honey by placing the contents in a frying pan with simmering water. Stir it until the crystals dissolve.

Image Credits: pixabay.com (License: CC0 Public Domain)

May these 6 tricks come in handy soon! 🙂

Sources: 1 ,2,3,& 4

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