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In UK, Oil is Cheaper than Packed Water

Can there be an economy where oil is cheaper than water? If yes, how will it affect its countrymen?

According to United Kingdom’s The Independent, a British national newspaper publication, Oil by barrel is now cheaper than the 6 packed bottles (1.5 liter each) of Evian Natural Mineral Water.

A liter of bottled water costs about 42 Pence (S$87 or US$0.66), while it costs about 24 Pence (S$0.49 or US$0.38) a liter for gas…that is 40 percent cheaper!

The price of oil has notably collapsed, affecting every single person in the country. A market analyst for Reuters named John Kemp, highlighted the bizarre state of economy on Twitter saying that not only that the current oil price represented “an unsustainable low level” – but that it was “impossible to predict how low prices might fall”.

Image Credits: Daniel Oines via Flickr

This is not the first time it has happened globally.

In 2011, Saudi Arabia’s petrol costs about 0.45 Saudi Arabian Riyal or 0.16 Singapore Dollars and 0.12 United States Dollars, which is absolutely much cheaper than bottled water. Saudi’s government spends SAR26 Billion on water subsidies every year to keep down their citizens’ water bills (Finfacts, 2011). That is equal to S$26 Billion.

An interesting thought is that unlike any other countries in Southeast Asia, the tap water in Singapore is safe to drink. We can just get a glass of tap water then refill it for free. But, a liter of bottled water in the supermarket is still more expensive than United Kingdom’s liter of oil today.

Image Credits: Luis via Flickr

Although this economic state in UK may cause lower annual prices of other goods easing the cost of living of the citizens…the falling energy prices may result to inflation and threaten the financial stability of the whole country. The Bank of England backs up this statement of warning.

4 Unusual Places to Find and Earn Money

Some people make it their golden mission to find hidden treasures throughout their lives, while others accidentally stumble onto them without effort. Whether it be practical or not, here are 4 Ways You can Find and Earn Money in the most Unusual Places.

1. YOUR OWN BACKYARD

A couple in California discovered treasures in their own backyard while walking their dog. They found 1,427 rare mint-condition coins dating from 1847 to 1894. Then, the coin experts estimated and appraised the coins at US$11 million. Today, you can find the last piece of coin that is offered for sale at Amazon.

Image Credits: Kagin’s, Inc. SRH via Amazon

2. FLEA MARKETS

A man once bought a painting of a country scene at a flea market in Pennsylvania in 1989. It turns out that it was one of the 24 known copies of the original 1776 Declaration of American Independence. In 2000, it was sold for US$8.14 million to the television producer named Norman Lear.

There are various flea markets in Singapore. Maybe you’re the next person to find antiques or special items in the flea market. Nonetheless, you can always find cheap yet useful items, which you can resell again.

Image Credits: Nasrul Ekram via Flickr

3. UNIVERSITIES OR RESEARCH CENTERS

Participate in paid focus groups, online surveys, or research studies that maybe in the field of science, marketing, etc. You may google the opportunities that are near to your city or those that pay even if you are in any place of the world through reputable services such as Paypal. Although while in search, you must make sure that the center or the institution is credible to ensure your safety.

4. LASTLY, IN YOUR BOOKSHELF

Selling your old books and magazines on online sites such as Amazon or Carousell can be a valid option. Not only can you earn extra money but you can also de-clutter at the same time! Also, some people have had success by compiling used books of others or buying books on the cheap garage sales, and reselling them again for a higher price.

8 Interesting Facts about Money (Saving Tips Included)

Did you know that being too relaxed might lead to overspending? Well, that along with 8 other Interesting Facts about Money may just help you save more. Plus, these facts can be really good conversation starters!

1. MONOPOLY MONEY> REAL MONEY

It is a fact that more Monopoly money is printed each year than real money printed throughout the world.

Image Credit: Sy Clark via Flickr

(Source: FactSlides)

2. MICROTEXTS ARE PRINTED THE BACK OF SINGAPORE’S 1000 BILLS

Did you know that the entire lyrics of the national anthem are printed in the microtexts on the back of the S$1000? It certainly is micro to make all the text fit. Awesome!

(Source: Monetary Authority of Singapore)

3. ALL GOLD IN THE WORLD CAN FIT A TENNIS COURT

All the discovered gold in the world will be able to fit a court of 62 feet and 82 feet on each side. Imagine a whole tennis court covered with gold bars!

(Source: Forest, C., 2009)

4. THE FIRST CREDIT CARD WAS CREATED OUT OF EMBARRASSMENT

Interestingly, the first Credit Card was created because of a man’s embarrassment who had to pay for dinner but forgot his wallet. It surely is a shameful moment especially when you have a date with a pretty lady.

(Source: FactSlides)

Image Credit: 401 (K) 2012 via Flickr

5. NEWER IS BETTER

To save money, fill your wallet with new money. Research showed that you are less likely to spend bills if they are smooth, crispy and new.

6. HIGHER DOMINATIONS WILL EQUAL TO LESS SPENDING

Another way to save money is to stack up more bills of S$100 and S$1000 because research has shown that people are more likely to spend smaller bills, and are reluctant to spend bills in higher domination.

7. BEING TOO RELAX LEAD TO OVERSPENDING

According to the study by Columbia Business School, when people are placed in a calming environment (i.e., classical music with comfortable chairs), and when they feel extremely relaxed, they overspent by 15%. So, it may be best to walk up the escalator or do simple exercises first before shopping.

8. SOME FONTS CAN SAVE MORE PRINTER INK AND TONER

If you want to save money on printer ink or toner, one thing you should do is to change the fonts that you use for printing. Century Gothic, Ecofont, Garamond, and Courier are some of the fonts that naturally use less ink.

(Source: Ehow)

Do you want to learn more? Here is a colorful infographic by Daily Infographic that you can share to your friends! Or, do check out other Money Digest articles.

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