The Yuletide season is upon us! Today is special as we celebrate the joyous occasion of Christ’s birth. While some people may not celebrate Christmas, December 25 (Sunday) is considered as a public holiday that will be observed on December 26 (Monday). Many Singaporeans take this long weekend as an opportunity to be with their families or to travel overseas.
If you went a little over your budget these season, January may welcome you with large debts and bank statements. Do not panic just yet. Take a deep breath! Consider these steps to bounce bank from your holiday splurges:
STEP 1: KNOW WHERE YOU STAND
You must initially assess your overall monetary situation. It does not take a financial whiz to decode what the first step entails! Simply include your budget and spending patterns from the past two months as well as your financial goals (i.e., both long-term and short-term).
Make a detailed list of all your debts, bills, due dates, and interest rates. This will help you to create a timeframe that will guide you towards paying down your debts. There is hope!
STEP 2: IDENTIFY WAYS TO CUT BACK
The damage has been done! It is time to take control of the situation by breaking the cycle of frivolous spending. Commit to a debt diet or prevent purchasing non-essential goods.
Avoid unnecessary spending by employing strategies such as reducing your energy consumption, using coupons, planning your weekly meals, or comparing prices online. These may seem miniscule, but these measures can make a huge difference to your wealth!
STEP 3: PLAN FOR THE FUTURE
To secure the future of your finances, you must build a robust budget plan to pay off all of the extra debts that were incurred during the season. Revise your current budget and stick to it! Be realistic when it comes to how much you can pay at a given point in time.
The remaining days of December is a good time to start thinking ahead. Understand what went wrong in your current holiday budget to help you next year. Perhaps you need to purchase your gifts as early as the Great Singapore Sale to save more money. Or, you may lower your entire gifting allowance.
Image Credits: pixabay.com
Whatever your mistakes were, it is important to learn from them.
This is the season to be jolly. Parties, presents, and all the festivities do not come cheap! You can easily be trapped into months worth of debt if you remain careless. This is why you must find a few creative ways to earn extra money.
1. RECYCLE YOUR STUFF
Your unwanted pile of trash can turn into treasures thru a single environmentally friendly act – recycling. Some individuals, especially in developing countries, make a living by selling scrap. Do something similar by submitting your trash into one of Veolia’s recycling station. Veolia’s Cash-For-Trash Programme started in May 2014. Since then, various stations were set up within the HDB estates.
Papers can earn you about 10 cents per kilogram while, old clothing can earn you about 30 cents per kilogram. Aluminum cans can earn you about 50 cents while, metal tins can earn you about 10 cents. The distinct prices of your items depend on the quantity and material.
2. SPREE FOR FREE
Wouldn’t it be nice if the cost of your holiday shopping was generously covered? I know it sounds counterproductive to make money by spending money, but it is possible!
The people that shop for a living are called Mystery Shoppers. Mystery Shoppers are paid by the company’s marketing department to report about their experiences as they try the said company’s services or buy their goods. Accepting this job will entail getting paid for your time as well as for the items that you bought.
Eager to be one? Check out the current job openings at Gumtree.
3. WORK MORE THAN USUAL
I am going to impart one of the most efficient ways to make more money in the remaining days of December. This is none other than hustling at your current job. Work overtime and take extra projects. You may be tasked to widen the referral system or input hundreds of data. Just take on the task that no one else wants and receive appropriate payment for it.
4. WRAP FOR FEE
As the eldest of three siblings, I experienced wrapping gifts for several friends and family members. It is undeniably a chore that most people do not appreciate. This is why gift wrapping enthusiasts and alike can offer their skills for a fee. Purchase colored papers, festive ribbons, and gift tags in bulk to save more money.
If you can sell your service in a cheaper rate than what the shopping malls are asking then, you can easily hit the jackpot.
5. SELL YOUR SNAPS
Have you ever been attracted to the images attached in the online blogs and other advertisements? Most of these eye-catching features were from the company’s stock images. Stock images consist of photographs that are usually licensed for specific purposes. Companies pay decent amount of cash for these.
If photography is a special part of your talent reservoir, consider selling your masterpiece. Companies are in constant need for images for their websites, brochures, cards, blogs, and other projects. Start by selling your snaps on Shutterstock. Each website works differently so read through the guidelines first before you commit.
Many parents, including my own, are guilty of spoiling their children with affection and attention. They spend money on the things that would make their child happy. Do not get me wrong! This is a normal reaction. However, excessively giving in to these impulses can lead to serious monetary consequences.
Awareness is the first step!
Repair your spending habits by knowing the “Four Ways To Waste Money As A Parent”:
ELECTRONIC ENTERTAINMENT
Back when I was a child, coloring books and sticker albums were all the rage. My friends and I used to compare each other’s collections and artworks. Let us fast forward to the present age. The children of today are utterly obsessed with Smartphone apps and video game consoles. Downloading no-cost gaming apps are okay, but its extras come with costly price-tags. Furthermore, the unit upgrades of video game consoles are insanely rapid.
For instance, the Xbox One may potentially be the last generational console from Microsoft. The renowned brand is looking forward to re-imagining consoles by combining its features with a Windows-operated PC.
DESIGNER CLOTHING FOR CHILDREN
Children can have sudden growth spurts. Thus, it is unnecessary to purchase loads of baby or toddler clothes. This holds true for shoes and socks as well. Instead, you may ask your friends and family members if they still have their kid’s outgrown clothes.
A kid’s wardrobe is both temporary and cluttered. This is why you must not purchase designer or boutique apparel.
SPECIAL BATHROOM PRODUCTS
The people behind children’s bathroom products lure you with the vibrant array of cartoon characters in their packaging. Barbie bath bombs and Angry Birds toothpaste sounds attractive in theory. However, they may contain chemicals that are harmful to your beloved child. Look at the ingredients rather than focusing on the pictures.
If you really care for the well-being of your child, you will take care of his or her health first.
INFANT FORMULA
Breastfeeding is among the most empowering gifts that women can offer to their babies. As much as you can, opt for breastfeeding because it will not only be healthy but also be able to save you as low as S$1,500 per year.
You may also borrow a breast pump from your friends or family members, but ensure that you change the plastic attachments. You can buy those for far less than a brand new pump.
Image Credits: pixabay.com
Whether you want to throw an extravagant birthday party or to purchase a domestic pet for your child, there are different ways to flush your money down the drain. It is time to make better choices for your family and your finances!
If you are a fan of late Christmas shopping and holiday parties, curb your spending by following these five savvy tips:
#1: ACCEPT THE REALITY
The first step to survive the Yuletide rush is to mentally prepare yourself for what is about to come. Recognize that you tackling one of the most stressful seasons of the year. Except the huge crowds and the long queues at the shopping centers. These are inevitable.
Do not try to convince yourself that you are collected when you are not. Instead, change your mindset by accepting the gravity or reality of the situation.
#2: CREATE A LIST AND CHECK IT TWICE
Create a comprehensive list, which contains the people whom you want to buy gifts for. Go through each name and allocate a specific amount beside it. Strictly follow this plan when you are shopping. If your budget still falls short, make necessary revisions.
For larger families, consider giving one present per married couple. Remember that you are not Santa Claus and it is not your duty to give everyone a gift!
#3: SHOP DURING OFF-PEAK HOURS
It does not take a sharp scientist to come into conclusion that shopping during the peak hours is a horrible idea! Prevent the rumination and nightmares about the hours-long frenzy in the mall by avoiding the weeknights and the weekends.
Come out victorious by frequenting your favorite shops during the early mornings and the weekdays.
#4: USE THE INTERNET TO YOUR ADVANTAGE
Use the power of technology to make your life easier. Firstly, do a comparative study to pinpoint the latest deals. It is worth spending the effort in order to stretch your dollar.
Secondly, buy your gifts directly from the online retailers. This will give you the convenience of not having to leave your home. More so, the items will be shipped on your doorstep.
Browse through the credible reviews to aid your search for the best brand at premium prices. Stuff Singapore provides reliable information regarding the latest gadgets while Renotalk focus on the latest in furnishing.
#5: OPT FOR OLDER MODELS
If you are planning to purchase gadgets or appliances for your parents, you can score greater savings by buying the older models. Sometimes, stores offer discounts on last year’s units to prepare for the upcoming release of the new one.
Since stores constantly rotate the models, the previous models are left at the sides or at the back. Look for those!
Image Credits: pixabay.com
It is important to work with how much money can afford to spend this Christmas. As soon as you start spending through credit, you will have the burden of paying it all back on the next year. That is not worth it!
Now that November 11 is over, there’s another day that savvy shoppers look forward to. Black Friday on November 25.
Black Friday is the busiest shopping day of the year in the US because it is an opportunity to cash in on some of the biggest savings of the year. From smartphones and television, to beauty products and household products, consumer take advantage of this 24 hours sale on 25 November. There’d be retailers extending the sale over the next few days to Cyber Monday and some over two weeks.
What about Singapore?
Black Friday has only gained traction in Singapore in recent years but don’t expect it to be as crazy as in the US. Sure there will be sales, but to score the best deals, you’d have to look elsewhere. By elsewhere we do not mean going to the next store in the mall but going right up to the origin of the source — in the US.
Top stores international bargain hunters shopped online at:
Amazon.com
Adidas
Gap
Forever 21
ASOS
Nordstrom
Drugstore.com
Newegg
Neiman Marcus
6PM
Tips on how to shop Black Friday
1. Prepare a wish list a few days before
Black Friday officially starts on the midnight of 25th November EST/PST in the US. That’s 1PM or 4PM in Singapore on 25 November. You don’t want to start shopping when everyone starts carting out the sale items, so prepare a few days ahead and add them in the shopping cart. Check out when the sales officially start to prevent them from going out of stock.
2. Make use of international delivery service providers
Some US retailers don’t offer international shipping (even on Amazon.com), so that’s when things get a little tricky. You can use parcel forwarding services like vPost and comGateway that provide you with a US shipping address. But you won’t know the shipping costs till they have received your parcels.
A more convenient way is to use Uskoop. Uskoop has recently launched in Singapore that takes care of everything for you from the purchasing to the shipping and insurance. You don’t even need a US address since every orders will go through them, making shopping a breeze. Plus, you get your shipping instantly and much cheaper than the merchant’s direct shipping fees. (that is if they ship to you!)
3. Know what and where to shop
Most electronics, apparels and toys are cheaper in the US than in Singapore since distributors import these goods and sell them at markup price in the brick-and-mortar stores.
a. Laptops
A 13″ HP Envy i7 laptop costs about S$1499 in Singapore but you can get the same for US$809.99 on Amazon.com. Unfortunately, this item does not ship to Singapore. Thanks to Uskoop, you can now ship it to Singapore for S$1307.25 after including shipping and handling fees. Add the GST and you’d still be better off buying from Amazon.com.
This LEGO City Fire Station set costs S$179.99 on Toys ‘R’ Us. On Amazon.com, it costs US$63.99 or S$154.27 after including shipping and handling fee.
d. Apparels
Brands like H&M, Michael Kors, Forever 21, Tory Burch, Adidas and Nike are definitely not sitting this one out. Expect great savings with huge discounts on their Black Friday sale this weekend.
This Faux Suede Moto Jacket from Forever 21 is a Black Friday Special and you can only purchase it at their official site for US$25. To ship it to Singapore, however, it will cost you an additional US$38 for shipping. That doesn’t make sense when you are paying more for the shipping.
You can however check out with Uskoop for a more reasonable shipping and handling fee at S$18.26.
4. Use right credit card to maximize your savings with cashbacks & more discounts
There are many cards that offer cashback on your online purchase. The Standard Chartered SingPost Platinum Card offers 7% cashback on eligible online purchase. In addition, the OCBC Frank Card offers 6% cashback on online shopping.
The DBS Live Fresh Card provides 5% cashback on online purchases as well as 3 DBS Points per S$5 spent online. For those holding the UOB Preferred Platinum Visa Card can get up to 10X UNI$^ (or 4 Miles) on online shopping and entertainment!
Using the right card means stretching every shopping dollar.
5. Shop smarter and quicker with a click of a button
There will be thousands of retailers in the US and UK that will be slashing price on Black Friday and Cyber Monday. Keeping tab of many retailers and carting out at the same time can be exasperating. What if you can do your shopping and consolidate your cart all in one click?
Uskoop Assistant lets you shop smarter and quicker online — all in just one click. It is a nifty plugin for your browser that automatically consolidate your shopping from different merchants in one place. It also shows you the total cost including the shipping and handling fees converted to Singapore Dollars, fuss-free!
Simply download the Chrome/Firefox plugin and start shopping!
Found an item you like? Click on the Uskoop icon and it will be automatically show up on Uskoop!
Uskoop provides free shipping to your local address and also free insurance coverage for every single order! No more worrying about your item getting lost in transit.
