4 Amazing Ways To Use Social Media To Save Cash

Bring your social media craze to your advantage by exposing yourself to its opportunities. “Liking” the Facebook page of your favorite airlines is just one way to save cash when you shop. Other than that, here are 4 Amazing Ways To Use Social Media To Save Cash

1. GET FREE PRINTOUTS AND TUTORIALS

You do not need to spend S$5 for a decent looking greeting card, all you have to do is to browse through the free printouts available on Pinterest – a global photo sharing website. Users such as Mique Provost 30daysblog and Amber Price: Crazy Little Projects Amber Price: Crazy Little Projects can give you simple Do-It-Yourself ideas such as a Photo Paper Flower Bouquet Printable and a Free Printable: Inspirational Quotes.

For your make-up needs, Youtube sensation Michelle Phan freely offers low-cost product recommendations and Do-It-Yourself cosmetics in her Pinterest account.

Image Credits: michellephan.com/diy-lip-balm

Image Credits: michellephan.com/diy-lip-balm

 

2. SELL YOUR STUFF

Social media, defined as websites or applications that enable the users to share content and to network, allows daily access of many consumers…all over the world. With this knowledge, you can supplement your Ad with a social media post.

For example, you may clean up the clutter in your closet and find the things that you deem to be unused or underused and sell them to your friends and family through Facebook or Instagram. Alternatively, you can turn your hobbies (e.g., baking cupcakes or making jewelries) into your home-based business.

3. SAVE ON PHONE BILLS

Save money and time by taking your customer complaints or issues on Twitter or Facebook. This will prevent the countless hours on the helpline only to be transferred to different departments. If the matter is more personal, you may message them directly without posting on their timeline.

4. FOLLOW THE SHOPS OR COMPANIES YOU PATRONIZE

You signed up to your favorite shop’s website mailing list but, do you check your inbox regularly? If not then, you might have missed out on some special deals. To prevent this, you can follow the shops or companies you like such as Forever 21 Singapore or Kinokoniya Bookstore Singapore. Retailers often put coupon or discount codes online so, stay social!

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If you want to follow a single timeline that will deliver great deals, tips, and guides relating to money then, follow Money Digest on Facebook today. 🙂

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4 Ways To Stop Your Couple Woes Over Money

They say that love is unconditional, selfless, and priceless. But the truth is, you have to spend money for roses, dinner, or even diamonds during special occasions such as birthdays or Valentine’s Day. And these gifts do not come cheap! The influence of money on the relationship does not stop there. It is significantly present in marriage. In 2012, a study found that the more regular couples argued over money, the more likely they were to get divorced.

There are different reasons why couples have dispute over money. One reason is the opposing views that deeply affect their values to the point that it is hard for them not to be self-righteous in the subject. Although, if both parties truly love each other and are willing to work things out then, they can set their differences aside. Here are 4 helpful ways to stop your couple woes over money

1. DISCUSS YOUR VALUES ABOUT MONEY

To prevent another issue to boil, understand each other’s view by explicitly discussing your differences on financial issues. For example, if your partner is a saver then, he or she may view money as an important currency that shall not be wasted.

Learn put yourself in your partner’s situation (i.e., spender or saver) by recognizing his or her financial strengths. For example, if you are buying a washing machine. While a saver may lean towards a cheap and used machine, a spender will want a costly and new machine. Compromise by combining the saver’s ability to get a good deal with the spender’s ability to commit to a new purchase.

Related Article: Psychology of Spenders and Savers

2. RELAX AND WRITE

When faced in a situation where you are already frustrated and about to burst, take a step back from those feelings. Avoid blaming or shouting at each other. Instead, write down your feelings or values about money and how you want your money dynamics to change for the better. When your temper is gone, exchange letters to know where your partner is coming from. If you want to break the cycle of feud, you have to work together to a fresh start.

3. PRODUCTIVELY PLAN TOGETHER

Ensure that you will have a productive and open communication on your financial goals and new budget plan. Change can be difficult and you may need to remind each other of your dreams and budget from time to time.

4. ENCOURAGE INDEPENDENCE

Although you have a joint bank account, you may want to have separate bank accounts for your personal finances including buying gifts for your spouse or child. This degree of financial independence can help you deal with the changes better. Keep in mind that you shall still honor the new budgeting scheme and financial goals even if you have a personal account.

Image Credits: Robert Bejil via Flickr

Image Credits: Robert Bejil via Flickr

In resolving your money woes with your partner, it is important to keep an open mind. Remember that it is not about winning or superiority, instead it is about understanding your partner’s perspective on money.

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Newbie’s Guide To Financial Planning

Picture a curve going up. This is your lifetime money curve. Every decision you make affects the direction of your curve. For example, once you earn money from your first job then, the money curve will go up higher. But living in reality, your money curve are exposed in certain financial pressures such as taxes and bank fees, which, will push the money curve direction down. The good news is that, with a strategic plan that evaluates the potential pressures, you can survive or prevent the downward money curve. This strategic plan is called a Financial Plan.

Financial planning is an important process that draws out your monetary future. It is a process of managing your finances and knowing where you want to go. Here are 5 pointers to guide you…

1. INFORMATION GATHERING

In order to manage your finances, the first step is to gather all the important documents (e.g., bank statements, insurance policies, and investment accounts) and financial information. Organize these records by using a folders or filing accessories that will cost less than S$5 at Popular Bookstore or Daiso.

2. EVALUATING

After you gathered all the essential information, you must evaluate all the areas of your financial life including long-term savings (e.g., retirement and college fund), short-term savings (e.g., payment for bills and emergency fund), key documents (e.g., durable power of attorney and will) and insurance (e.g., life and car insurance). Calculating your net worth is also in this step.

3. SETTING GOALS

Following evaluation is goal setting. It involves two things: identifying your goals and knowing what resources you need. Identifying your financial goals both short-term (e.g., staycation in Bali) and long-term (e.g., retirement at 50s) is vital to knowing what your next plan of action will be. After plotting your goals, you must know the resources you will need to achieve them.

4. TAKING ACTION

Since your goals are set, your next plan of action is to decide whether you shall do it on your own or to hire a professional financial advisor. The personal actions you can take may include purchasing life insurance, creating a will, and setting a side money for your retirement. While, hiring a professional can help you reach your objectives in the midst of time your constraints.

5. MONITORING

The last step is monitoring. Monitoring involves tracking your progress and altering your goals based on the reevaluation of your current economic situation.

Image Credits: carlocanyougo.tumblr.com

Image Credits: carlocanyougo.tumblr.com

With a systematic and a holistic Financial Plan, may your money curve take a flight…leading you to success! 🙂

Sources: Entrepreneur and MoneySense

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