Good Family Money Practices To Abide To

As year 2020 fast approaches, many of us rethink our past decisions and practices. Among these decisions and practices are the ones that greatly affected your finances. How did the past year influence your financial circumstance?

Discussions about assets, incomes, properties, and investments will come up whenever one thinks about wealth planning. A holistic financial planning approach can help improve your relationships in the coming year, including your family dynamics.

Katherine Dean, head of Family Dynamics for Wells Fargo Private Bank, once said: “When families communicate regularly and work on financial issues together, they often develop shared goals and a healthy sense of purpose.” An effective wealth plan not only helps with straightening out your household, but also with deepening your family relationships.

#1: SPENDING PLAN

Everything starts with a neatly laid out plan. Sit down together as a family to develop a household spending plan. You may opt to avoid using the word “budget” as it may highlight sacrifices and the pains of cutting back. Instead, focus on what is important to your family and the spending categories that you care less about. Cut down on the latter and explain to your family members why you must do so.

#2: CAREFUL USAGE OF WORDS

When it comes to conveying a message, it is vital to send out the proper signals. Choose your words carefully, especially when dealing with children. Saying “we cannot afford that” may send the confusing messages to young children. Some children may worry about their family’s financial state and its lack of capabilities to support the family’s necessities. Instead, try explaining why you choose not to spend your money on lavish toys in the aisle. Explaining the value of money and prioritizing expenses can help children learn more about managing money.

For instance, you may encourage your children to create wish lists when their birthdays come. Help them save for it by completing chores. This highlights the importance of saving and the practice of delayed gratification.

#3: IDENTIFICATION OF FAMILY VALUES

Recently, I sat down with my team to discuss the effect of having a shared goal fueled by our work values. Our personal work values affect how we work and how we interact with our colleagues. In the same way, our family values affect our family wealth plan. Having shared intentions and beliefs about money is one of the most effective ways to reach your long-term goals and to avoid making expensive financial mistakes.

Shared family values differ from household to household. For instance, one family may be committed to improving their eco-friendly lifestyle while the other is committed to improving their adventurous lifestyle. Once you pinpoint your common values, you will be able to direct your shared family wealth plan.

#4: SAVING AND SPENDING TOGETHER

You are a team – do not forget this. When it comes to tackling purchases that will greatly affect your household, it is best to spend and save together. Your new computer or your family trip to Bali can help show your kids the value of saving money. Get a piggy bank or a savings jar and add your loose change each week.

Image Credits: pixabay.com

Show your kids how savings can grow in time. When you have saved enough, teach your children how to get the most out of their money. Bring them along while you shop around.

Sources: 1 & 2

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Last-Minute Christmas Shopping Guide In Singapore

The temptation to turn on the Jingle Bell Rock or the Polar Express movie is approaching its peak level! Despite it being the 24th of December, I am sure that some of you have yet to purchase a set of Yuletide gifts. Your time is running out and your meeting your family soon. What must you do to get all your presents sorted out for the party?

Firstly, throw the online shopping option out of the window. The shipping period will never come in time no matter how much you click the “express” option.

Alas! There is still work to be done. Consider these shopping spots while you begin your search.

#1: THE POPULAR ONE

What is the first thing that comes to your mind when you think of shopping? Well, Orchard Road of course. Its world-class array of malls has gained popularity among tourists and locals alike. Hit up the retail havens such as ION Orchard and Paragon to explore international brands (of different price scales) such as Editor’s Market, Mango, Gucci, and Louis Vuitton. Nonetheless, almost everything can be found in TANGS.

Score great deals in footwear, cosmetics, clothing, and other items as you stroll around Orchard Road.

#2: THE HIP ONE

If you want to take Instagrammable photos while you continue your last-minute shopping, head down to Haji Lane or Bugis Street. These places attract shoppers and tourists on a daily basis. These two venues may be in close proximity with each other but, they offer contrasting shopping experiences. Haji Lane has an array of vintage or artisanal items that highlight one’s craftsmanship. While, Bugis Street is well-loved for its extremely low prices and Korean-centric stores. Both venues offer trendy and timeless pieces that will delight your fashionista friend or family member.

Get the best prices by strolling around Haji Lane or Bugis Street before committing to a final purchase.

#3: THE ALL-NIGHTER

From traditional Indian clothing to brightly-colored accessories, you can make your way to Little India to shop in a lively cultural part of Singapore. Visit Mustafa Centre for Christmastime gifts varying from children’s toys to sporting goods. What’s more? This massive store is open for 24 hours. Thus, you may literally shop until you drop.

Do indulge in a cultural immersion while you shop around.

#4: THE BIG ONE

What better way to spend your last-minute shopping ordeal than by visiting the city’s largest shopping mall – the VivoCity. VivoCity houses the cheap Japanese outlet Daiso where you can spend as little as S$2 for a stocking stuffer. Furthermore, there are other glistening brands such as Sephora and Pandora. Who can say no to a set of jewels and makeup?

If you have your little ones with you, you may let them have fun at the open-air playground on the second level or splash around in the water-based Sky Park on the third level while you shop around.

Image Credits: pixabay.com

With a countless array of shopping malls and indie outlets, Singapore offers the perfect spot for your last-minute Yuletide shopping. Good luck!

Source: Visit Singapore

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5 Telltale Signs That You Need To Change Your Phone

As my iPhone slipped from my hands, it quickly tumbled to the ground with its screen falling first. Before I grabbed it, I was so complacent that only the tempered glass was shattered. The people who witnessed the scene were so shocked and even screamed on my behalf. I kept my cool. I told them that everything is under control as it had a protective layer. Oh, I was wrong! The entire glass screen cracked from the inside out.

Three days passed and I have decided to upgrade my phone. I saw it as an opportunity to finally purchasing a new one after three years. I may get accustomed to the smashed display of the spiderweb-like pattern across the screen, but using this is hazardous. I might be cut by the broken glass or cause the cracks to worsen.

Image Credits: pixabay.com

Having a smashed screen is one reason to change your phone. Keep in mind that upgrading can set you back for more than S$1000. So, contemplate on whether it is necessary to buy a new phone or not.

THINGS ARE GETTING SLOW

In this day and age, phones that can multitask reign supreme. If your phone cannot keep up with your taps and swipes, perhaps you should get a new one. It is hard to function when your phone responds to some commands while ignores the rest. Consider looking for a phone that listens to your every touch.

BATTERIES ARE EASY TO DRAIN

How would you feel if your fully charged phone does not last you until lunchtime? You have enough on your plate and rescheduling a recharge can just stretch your tasks.

If you are noticing that your phone is draining at a faster rate after fully charging it, it may be time to replace its battery. Remember that smartphone batteries lose capacity every time you charge it from zero to one-hundred percent. Charging it incorrectly can quicken the process of deterioration.

SHUTTING DOWN IS COMMON

As I was sitting in the lobby, my friend asked me for a favor. She wanted me to call her phone that randomly turned off. To my surprise, it rang while the entire screen transformed to pitch-black. Random shutdowns is worse that running out of battery. If your phone refuses to turn back on until it dictates so, it is time to purchase a new phone.

YOUR STORAGE IS FULL

Despite adding a memory card, your current phone still runs out of storage space. You noticed that small, low-resolution photos can accumulate and hold a chunk of your phone’s memory. What’s more? Your photos look like they were shot in the yesteryear. Stop collecting grainy and low-resolution moments! Start saving your space for crisp and high-resolution memories by getting a new phone.

NEW OPERATING SYSTEM IS NOT AVAILABLE

Take a moment to think about whether you can download the latest apps and operating systems. One of the primary reasons why you must convert to a new phone is to equip yourself with current software updates.

Image Credits: pixabay.com

Always update your phone to the latest operating system available for security purposes. Latest updates often fix flaws in older systems that leave your data vulnerable to cyberattacks and hackers.

Sources: 1 & 2

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How to Improve Your Shopping Habits for the Better

When you love shopping, the best place to go is Singapore, but that doesn’t mean you should let yourself go crazy and buy everything that catches your eye. You owe it to yourself to be patient and find the truly special items that make you smile every time you wear them or see them on your shelf. You also want to be responsible with your money. To do both, all you need is to follow these four tips:

Use a Credit Card and Get Rewarded

For those who are responsible with their spending, the best way to improve your shopping habits is to get rewarded for them. Credit cards let you build up your credit, and when chosen correctly, can also offer a wide variety of rewards that keep giving back.

Choosing the right card and the right bank can be difficult, yes. There are a lot of different options available, which is why it is best to compare before you apply.

For help with deciding which is the card for you, go to Finty.com and explore what’s on offer from the banks.

Know When to Shop

The Great Singapore Sale is a great time to shop for the big ticket items on your list that were either too expensive for you to feel comfortable buying or out of your budget. In order to make the best out of the GSS, you will want to know where to shop and ideally what to shop. You will be able to get your favourite items for up to 70% off, but you don’t want to get caught up in the thrill of the sale. Know what you want to buy for your wardrobe and set parameters in place before you buy.

Perfect Your Belongings

Overbuying is a common problem, but it can be easily rectified if you work on “completing” your belongings. It is about finding the right balance for your home or wardrobe. You can do this by rearranging your home. Your closet, in particular, should be improved so that you can easily see everything you own in a glance. This way you will have a better understanding of what you own, and instead of buying a top that looks almost exactly like one you already own, you can focus your energies on getting an item that completes your wardrobe.

Buy Better, Not More

It is far better and more luxurious to either wait for a sale, save up, or buy with a payment plan for luxury items than it is to opt for the cheap throwaway option. From cooking supplies to electronics to clothes, you deserve the best, and the best is worth investing in.

Shopping is a fun activity, but it could quickly become a problem. Even if you have the money for it, overcrowding your living space with things will only clutter the mind. Instead focus on building a home and wardrobe that is luxurious, full of items you love and care for, and remember to earn rewards every time you buy. You will save money in the long run and enjoy a better quality home all at once.

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Affordable Makeup Products That Can Compete With Luxurious Brands

Whether you are showered with smiles or hugs, the best things in life are free! What is the second best thing for makeup enthusiasts? Well, cheap yet quality cosmetics.

Times have changed for the world of makeup as many drugstore brands have amp up their game. Indie beauty brands and online cosmetics have carved out a niche of inexpensive makeup and beauty products. Read thru this list to learn more about the affordable brands that perform really well.

NYX

A true makeup enthusiast would know that NYX is pronounced as Nicks and not N-Y-X. Whether you are into pigmented powders or creamy lip formulas, NYX has different formulas for you. Its prices are among the most affordable ones available in Sephora Singapore. Hence, it is a good place to start when experimenting with your makeup looks.

Personally, I am a fan of the Lip Smocking Fun Colors collection as it is creamy and pigmented. What’s more? It is priced at about S$10 a pop! Fill your kit with NYX products like this, before splurging on luxury brands.

MAYBELLINE

Did you know that the Maybelline Company was curated by a 19-year-old entrepreneur named Thomas Lyle Williams in 1915? Well, this American brand came a long way since then! You see, drugstores are flooded with Maybelline products that do not disappoint.

For instance, long-wearing liquid lipsticks often do not live up to the expectation. Enter Maybelline SuperStay Matte Ink Liquid Lipstick! These liquid lipsticks could outlast a kissing session or an unlimited buffet. It is so clingy that the brand even created a makeup remover for it. You cannot go wrong with Maybelline SuperStay (retails for about S$17.90)!

NEUTROGENA

One of the things that my mom obsess about is body oil. From Argan oil to Coconut oil, you name it and she has it. Her go-to brand for the luxurious sheen is Neutrogena. Neutrogena, founded in 1930, was originally a cosmetics company called Natone.

Neutrogena Body Oil (about S$20) or bath oil has a heavenly scent that would take you back in time. You see, almost every bathroom in the ’90s has that musky almond scent. This product will give you a silky soft skin post-shower.

COLOURPOP

Many of us are familiar with this last inexpensive brand due its wide array of lip products. What’s more? Its products are vegan, cruelty-free, and affordable. I am referring to none other than ColourPop.

Image Credits: unsplash.com

ColourPop is available for your online consumption. Many find ColourPop No Filter Matte Concealer as their holy grail. With 30 shades and long-wearing formula, this concealer covers your dark circles and blemishes. It is only S$11.50 per piece at Lazada Singapore.

Source: Allure

 

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