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How Much Shall You Spend On A Gift Without Looking Cheap?

While scouring the land for the one-of-a-kind gift, keep in mind that you must remain financially savvy. You may be tempted to go over your budget since you want to make the recipient feel special or you do not want to come across as being cheap. However, your gifts need not to be expensive to put a smile on someone’s face.

It is hard to put an exact price tag on the perfect gift as it all depends on a set of factors, namely: the amount you can afford, the budget you set, the current occasion, and the giver’s relationship with the recipient.

THE AMOUNT YOU CAN AFFORD

I read a good financial nugget from Manisha Thakor of The BAM Alliance. She said that if you cannot afford to buy the item in cash at the very moment then, you cannot afford to buy it. Simply, she wants us to be realistic when it comes to what we can and cannot afford. So if you are shopping in the mall, it is best to use mainly cash to regulate your spending. And if you are shopping virtually, convert that money as a gift card. When the gift card is maxed out, you will be done shopping.

THE BUDGET YOU SET

Just because the person gave you a lavish gift does not mean that you must do the same. If you budget does not allow you to go beyond S$50 for a gift then stick with your limits. Being stuck on debt just to keep up with a superficial appearance is never worth it.

If you are following a strict budget, you can allow your creative juices to pump. For example, your make-up obsessed best-friend wants to purchase the ridiculously costly and highly sought-after Kylie Lip Kit. You know that the product and shipping costs will exceed S$50. Then, you searched online for quality yet affordable dupes (equivalents) such as the NYX’s Soft Matte Cream lipsticks. These only cost S$12 so you went to Sephora and purchase four beautiful colors!

THE CURRENT OCCASION

The current occasion also dictates how much you shall spend. To illustrate this, let us take the Singapore’s “red envelope” gifting tradition into the table. For Chinese New Year, an amount of S$2-20 is common to give for children while it ranges to about S$8-S$88 for adults. On the other hand, the minimum Ang Bao amount for wedding banquets is S$50. This is why it is important to take the nature of the occasion into account. For corporate events, you can consider shopping from specialized online stores that offer corporate gifts or door gifts.

THE RELATIONSHIP WITH YOUR RECIPIENT

To whom is the gift for? How close are you to him or her?

Image Credits: pixabay.com

When it comes to giving the “perfect” present, it really is the thought that counts. If you are able to purchase a gift that translates how well you know and care about the person, you have done your job right. Start by determining what the person’s hobbies and interests are. From there, you can think of some gift ideas that will fit your budget.

Sources: 1 & 2

Stop These 5 Unhealthy Financial Practices

1. SHOPPING UNPREPARED

If you come to a store unprepared, there is a possibility that you will walk out with unnecessary items that are beyond your budget. Whenever I think about this scenario, I remember my aunt. My aunt loves spontaneous shopping trips fueled by her boredom. As a result, she will always go out with nothing but her credit card. She justifies her actions with this statement: “Shopping makes me happy and besides this is just cheap.” But those “cheap” things can add up to a huge sum of debt.

To avoid this, list the things that you need to purchase before going out. Be as detailed as you in order to get a rough idea of how much you will spend. For instance, if you are making a grocery list, do not forget to note how many items you need and how much is the price range for each.

2. BLAMING OTHERS

Q: What is worse than personal destructive money habits?
A: Not owning up to it.

If you are fond of blaming others for your overspending and your negative financial situation then you do not take responsibility for your actions. Thus, you will ignore or deny its consequences. This practice can not only hurt your finances but also your entire life.

Save your life! Be accountable for your actions and start taking necessary actions.

3. WATCHING TOO MUCH

Tom Corley researched the differences between wealthy and low-income individuals for five years. Here are his findings:

a. 67% of the wealthy watch 1 hour or less of T.V. per day vs 23% of the low-income earners

b. 63% of the wealthy spend less than 1 hour per day on recreational Internet use vs. 26% of the low income earners

Spending more time on the television or social media will leave you less time to do more productive things. These productive things such as reading to learn and networking to build relationships will help you create a brighter financial future.

4. PAYING BILLS LATE

When paying the bills late becomes a part of your routine, it can hurt your finances in several ways. Firstly, you may spend the money you are supposed to use for paying the bills. Secondly, you are bound to pay the late payment fees and interest rates for your credit cards. This is why you must prepare money for your bills accordingly by noting them down at the beginning of the month. Put it on your working desk or create a file for it.

If you have a monthly bill, you may try a trick called half payments. For half payments, you prepare the payment for the bill by subtracting half of the bill’s amount to your bank account per two weeks (bi-weekly).

5. AVOIDING THE TRUTH

Over-spenders are usually irrational and impulsive when they are shopping. They usually give absurd rationalizations for their purchases especially when they are confronted about it. Simply put, they do not want to talk about their spending habits as they are ashamed about their financial situation.

This practice only brings harm in the long run. The more you cover up your overspending habits, the more it prevents you from getting professional help to fix your finances.

Image Credits: pixabay.com

6 Major Reasons Why Young Working Adults Are Not Saving Enough

1. MINIMUM WAGE

As fresh graduates enter the workplace with little to no experience, some are forced to settle for entry-level jobs with minimum wages. Whether you are a secretary at a recruitment firm or a personal assistant at an advertising company, the relatively low salary you earn every month makes it difficult to save money.

2. RECURRENT RENT EXPENSE

Some young adults move out once they start earning a decent amount of money. The independence, freedom, privacy, and convenience can be attractive but the reality of the rent expenses can hit you hard.

In the city centre, it will cost you at least S$500/month to live in a single room and at least S$1,500 to live in a small apartment by yourself. It makes more economic sense to stay at your family home and set aside the hundreds of dollars per month to your savings or investments.

3. INDULGING ON DESIGNER LABELS

Most young working adults spend their fortune on designer labels such as Prada and Louis Vuitton as well as other artisan brands. You may think that you are standing out from the crowd by carrying your S$2,000 Prada tote bag and your S$300 artisanal fragrance but you are simply creating holes in your pocket.

4. CABBING EVERYWHERE

Heading to work late? Hail a taxi.

Coming home after a crazy night out? Hail a taxi.

Aside from designer and artisan goods, you are preventing your savings from growing by cabbing everywhere. Five late night taxi rides can cost you at least S$100 and that equates to about 10 lunches at the nearby food court. This is why you must set aside an “emergency taxi fund” with a maximum of S$60 per month. You must not ride a taxi beyond your intended budget.

5. TECHNOLOGY AS NECESSITY

Technology is so pervasive in a young adult’s life that its costs are virtually inescapable. Interacting through social media is not just a culture but also a necessity. But staying connected comes with costly price tags as having the latest gadgets and paying for the monthly broadband fees can affect how much you can save.

6. EASY ACCESS TO SAVINGS

Most of us struggle with keeping our hands off our savings accounts. With the easy access of Internet banking, credit cards and multiple ATM machines, it is more convenient to spend cash than to save it. For young adults with this dilemma, make spending a chore by converting some of your money to US dollars. The thought of having to go for and pay for the currency exchange will likely to dissuade you from spending!

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1 & 2

4 Eggciting And Affordable Places To Be On Easter

We are days away from Easter! It is the time for Easter bunnies, egg hunting, high teas, and family gatherings. Celebrate this special occasion of hope and fun in one of these four exciting places, which will cost you under S$50.

1. SENTOSA HARBOURFRONT

Spanning approximately 520 hectares, “The Great Egg-Venture at Sentosa Harbourfront” proves to be Singapore’s largest egg hunt. From the top of Mount Faber to the Sentosa Island itself, participants shall hunt for 60 eggs. The eggs were beautifully hand-painted by the artists from Affordable Art Fair, the students from Temasek Polytechnic, and the youths from FamChamps.

These eggs are not hard to miss as they each have a height of 1.8 meters. More than S$50,000 worth of prizes awaits you! Beyond this, your family can enjoy several activities at the Sentosa Egg Fiesta – Garden Edition.

Website: thegreateggventure.com
Price/s: Free

2. CHIJMES

Hop into The Lawn as CHIJMES brings you a hit Easter Party. Start the day with a high tea suitable for adults and children. Then help your children find the Easter eggs containing various prizes such as S$100 worth of dining vouchers. After hunting some lucky eggs, let your kids play on the bouncy castle and get their faces painted for free!

Tickets are available at the concierge counter daily.

Website: chijmes.com.sg/easter-tea-party
Price/s: S$10/person for the Easter High Tea, S$5 for Easter Egg Hunt, S$5 for Easter Egg Painting

3. HOLIDAY INN SINGAPORE

Window on the Park’s “A Cracking Easter Celebration” will delight your tummies as you feast on hearty roasts, local favorites, sumptuous desserts, and more. From Sautéed Beef with Spring Root Vegetables to Lamb Stew with Chickpeas and Pumpkin, Holiday Inn has got you covered for lunch or dinner. To embrace the spirit of this joyous occasion, there will be fun activities such as Easter egg painting. Deviating from the public, their Easter celebration is set on 31st March.

Website: ihg.com
Price/s: S$35 nett for lunch and S$40 nett for dinner

4. SINGAPORE SENTOSA COVE

For adults, celebrate Easter on a uniquely exhilarating note by plunging into the WET® Pool deck to participant in an aquatic egg hunt. In the “Eggxotic Summer Pool Party”, guests are welcome to sink or float to find a basketful of 100 eggs submerged in the pool. Win a myriad of EASTERRIFIC prizes such as a staycation at W Singapore, dining treats at SKIRT, and a lovely experience at WOOBAR.

On 26th March, the party will continue to turn up as DJs Shigeki, Patrick Oliver, and MR HAS will be mixing the beats all day!

Website: wsingaporesentosacove.com/en/EggxoticSummer
Price/s: S$35 nett (inclusive of a drink and pool access)

Image Credits: www.wsingaporesentosacove.com

Source: Silver Kris

4 Ways To Get Cheap And Affordable Spa Facial Services In Singapore

1. ENJOY AN AWARD-WINNING CUSTOMISED 90-MINS FACIAL AT $88

Looking for good facial treatment in Singapore? My Cozy Room, an award-winning luxury boutique spa near Orchard Road, is offering their highly-raved facial treatment for just $88 (U.P. $188) if you are a first-time customer residing in Singapore.

Known for their best Extraction Facial in Singapore, you can expect relatively painless extraction to treat acne clogged pores, blackheads and pimples. They have certified professional therapists with years of experience in treating customers skin problems on-site, so you’re definitely in good hands.

What are you waiting for? Take a break from the daily grind and indulge in this ultimate luxury session at the trial price of just $88!

For more information, click here to register for interest.

2. GO CRAZY FOR FAVE DEALS

Fave is probably my all time favorite shopping companion. Used by many Singaporeans, MYFAVE.COM is a website that offers discounted deals on events, luxury goods, bags, watches, beauty products, lifestyle services, and getaways. I recommend going for these current deals below that range for only S$18-48.

3. LOOK FOR FACIALS UNDER S$100

You do not need to break the bank to get quality spa treatment. Do not worry about spending a hefty amount of money as most of these place do not require you to buy packages. Although, you have to book in advance to guarantee your spot.

a. SG FACE

With more than a decade of beauty therapy experience, Michelle Foong of SG Face relies on the trusted power of recommendations. While their services are affordable, German brand Babor is used in the treatments. Try the 60-minute Deep Cleansing Facial for S$48 (first trial only) or the 90-minute Hydration Facial for S$70 (first trial only).

b. FLARE WELLNESS

For the organic-junkies, you will love the Flare Wellness beauty salon. According to their website, they have an ongoing promotion for the “Organic Refresh Vitamin C Facial” for S$98. It is a brightening, firming, lifting, and anti-ageing treatment that refreshes your face immediately. Also, it includes a complimentary foot massage!

c. CHEZ MOI DE BEAUTE

Chez Moi de Beaute uses another German brand called Phyris. What separates it from the most is their friendly and experienced staff that explain each step so you will not get surprised with all the sensations. Currently, they have a promotion on the “Mix & Match Facial” and the “Mix & Match Power Facial” that is valid until 30th April.

Mix & Match Facial for S$48, tailors the treatment for your skin’s needs. While the Mix & Match Power Facial for S$68, allows the therapist to choose from 6 serums to treat your skin concerns. You will get the most out of your dollar as these treatments last for 75 minutes.

4. LASTLY, SELF-SERVICE

If your budget for a spa-quality facial is less than S$20 then, try the magical services provided by you! Forget spending time and money at your local spa as you can pamper yourself with homemade facial masks. May this simple guide help you to get started.

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1 & 2

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