Is It Practical to Buy Souvenirs from Your Trip?

Souvenir shopping is a beloved part of many travel itineraries. It’s natural to want a special keepsake to commemorate your trip and bring a touch of that magic back home. Whether for yourself or as a gift for loved ones, the choices can feel overwhelming and sometimes inauthentic.

To avoid cluttering your home with meaningless items, consider a mindful approach by selecting souvenirs that will be used or appreciated. Personally, I often purchase one or two luxury items that have lasting value.

For many Asians, including myself, buying souvenirs for family is a must. These mementos not only evoke positive memories but also offer a way to share your experiences with friends and family.

WHAT TO BUY?

Consumables are often the most appreciated souvenirs. From personal experience, chocolates are a safe bet—they disappear quickly when I bring them to the office. Opt for individually packed options, and be cautious with unique tastes like dried durian, which may not appeal to everyone.

Consider the practicality of a souvenir and how often it will be used. Recently, I bought my mom Chanel concealer from the Hong Kong airport, which she loved.

Some items may be cheaper abroad, but significant discounts on expensive goods, like handbags, may still result in a high cost. If you love handbags, who am I to tell you not to grab that discounted LV or Goyard in France?

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When buying for family and friends, choose items you know they’ll enjoy, not just what you like. Remember, not every destination has something for everyone, so select items that match their hobbies or interests.

WHAT’S YOUR BUDGET FOR SHOPPING?

Budgeting is key. Plan ahead by researching before your trip, especially for high-end items like jewelry, art, and antiques. Avoid heavily trafficked tourist areas to stay within your budget.

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Explore local markets for unique items at lower prices. For food souvenirs, shop at local grocery stores for authentic sweets and snacks. This approach saves money and helps you find items that truly capture the spirit of the area.

Enjoy your travels!

Sources: 1,2, & 3

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Boost Your Budget With S$300 CDC Vouchers, Now Available for Singaporeans

As 2024 began, Singaporeans faced financial challenges with the GST increased to 9% and Singapore again named the world’s most expensive city. This has significantly impacted on daily expenses, such as meals and groceries.

To help ease this burden, every Singaporean household can now claim S$300 in CDC vouchers for daily expenses. These vouchers can be redeemed online at go.gov.sg/cdcv and used at participating hawkers, heartland merchants, and supermarkets.

PREVIOUS TRANCHES

In January 2024, the CDC vouchers worth S$500 were launched by then Deputy Prime Minister Lawrence Wong. This was S$200 more than the previous year’s tranche. Households will receive a total of S$800 in 2024, marking the first time two tranches of CDC vouchers have been distributed in one year.

LATEST VOUCHER LAUNCH

On June 25, Deputy Prime Minister Gan Kim Yong, who is also the Minister for Trade and Industry, introduced the new tranche of CDC vouchers at West Coast Community Centre. He was accompanied by National Development Minister Desmond Lee and the five mayors.

BUDGET 2024

During Budget 2024 in February, Prime Minister Wong, also the Finance Minister, announced that Singaporeans would receive a mix of cash, vouchers, and rebates. This is part of a S$1.9 billion boost to the Assurance Package to help with cost-of-living concerns and an uncertain economic outlook. The package includes an additional S$600 in CDC vouchers, with S$300 distributed in June 2024 and another S$300 in January 2025.

HISTORY OF THE SCHEME

The CDC vouchers scheme was introduced in June 2020 during the COVID-19 pandemic to support lower-income households and local merchants. It was expanded to all households in December 2021 to thank Singaporeans for their solidarity during the pandemic and to support heartland businesses as they recovered.

Despite the pandemic’s end, high inflation due to supply chain constraints and the war in Ukraine has kept daily expenses high. Deputy Prime Minister Gan explained that this is why the Government continues and enhances the scheme.

SPENDING OF THE VOUCHERS

Most vouchers were spent on hawker centers, participating merchants, and groceries, with S$140 million on F&B, S$273 million on supermarkets, and S$28 million on mini-marts.

FairPriceGroup is offering a promotion where shoppers receive S$4 in return vouchers for every S$50 spent in CDC vouchers in a single transaction until July 1. These return vouchers are valid until July 31 with no minimum spend requirement.

Furthermore, Cold Storage offers an S$8 return voucher for shoppers who spend at least S$80 in CDC vouchers in one receipt. Giant Singapore provides a S$6 return voucher for spending at least S$60 in CDC vouchers in a single receipt.

CLAIMING THE VOUCHERS

More than 650,000 Singaporean households claimed their June 2024 vouchers within the first two days of the launch, according to Senior Minister of State for Trade and Industry Low Yen Ling.

Want to claim yours? To use the CDC vouchers, access them via your smartphone using the unique link provided to your household. Select the type and amount of vouchers you wish to use, and a QR code will appear for you to present to the shop staff. The staff will scan the QR code to deduct the amount accordingly.

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Note that no change will be given if the voucher amount exceeds the purchase price. However, you can combine voucher usage with cash to cover the total cost. For instance, you can use a S$5 voucher and add S$2 in cash for a S$7 item. The same rules apply to physical vouchers.

Sources: 1,2, & 3

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Kiasu Parents’ Guide to Financial Preps Before the Baby Arrives

#1: INSURANCE COVERAGE

When it comes to expecting a baby, it’s always wise to be prepared for the unexpected. That’s why maternity insurance is a must-have. For those who love being ahead of the game, like many Kiasu parents, maternity insurance is essential. Maternity insurance can provide financial protection and peace of mind during this significant life event.

Take, for example, Income’s Maternity 360. With a single premium, this plan offers three years of comprehensive coverage for both mother and baby, including protection against death, 10 pregnancy complications, and 23 congenital diseases. Plus, it includes a hospital care benefit, ensuring you’re covered in various situations.

#2: HOSPITAL BAG

Packing your hospital bag is an exciting step, but it’s important to plan based on your expected stay. Most mothers spend 2 to 3 days in the hospital after giving birth, though a C-section may require a longer stay. Fathers planning to stay with their partners should also consider this when packing.

Think about what will make you comfortable and prepared for those few days. For example, when my friend Lea was expecting her first child, she packed cozy pajamas, snacks, and even a favorite pillow from home, making her stay much more comfortable.

#3: HOME PREPARATION

Bringing your baby home for the first time is a thrilling moment, but it’s crucial to ensure your home is ready. This goes beyond just cleaning; it’s about creating a safe, welcoming environment.

Start by minimizing furniture and switching to non-toxic products (e.g., disinfectants and natural cleaning products). Less furniture means fewer places for germs and dust to gather. For laundry: wash sheets, blankets, and your baby’s clothes with mild detergent to avoid skin irritation. Then, consider professional cleaning if necessary.

#4: EMERGENCY FUND

Life with a baby can be unpredictable, and having an emergency fund is crucial. Aim to save enough to cover three to six months’ worth of your take-home pay. If that seems daunting, start with a smaller goal, like S$1,000, then gradually increase it.

#5: BABY-CENTERED BUDGET

Adjusting your budget to include baby-related expenses is essential. Consider ongoing costs like health insurance, doctor visit copays, diapers, formula, food, clothing, and daycare. Don’t forget one-time expenses for setting up the nursery and stocking up on baby gear. My cousin Nik created a detailed budget before her baby was born and found it incredibly helpful in managing her finances smoothly.

#6: BENEFICIARIES UPDATE

Major life changes, like having a baby, are a perfect time to review and update your beneficiaries on life insurance and retirement plans. You might still have your parents, siblings, or even a previous partner listed instead of your child. When my brother updated his beneficiaries after his first child was born, it gave him great comfort knowing his family’s future was secured.

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Preparing for a baby is an exciting journey filled with many steps, but with a little planning and forethought, you can ensure you’re ready for the adventure ahead.

Sources: 1,2, & 3

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Practical Tips for Cutting Down Medical Costs in Singapore

Navigating healthcare expenses can be challenging, but there are several strategies to help you save money on medical costs in Singapore. Here’s a guide to making the most of available resources and adopting cost-effective practices.

TAKE ADVANTAGE OF FREE CHECK-UPS & SUBSIDIES

The Singaporean government has established a robust healthcare system with multiple layers of financial protection to ensure citizens are well-protected against high medical costs.

  • The first layer includes significant subsidies for hospitalization, outpatient care, and long-term care. You can receive up to 80% subsidy for hospitalization at public hospitals (B2/C wards), ensuring high-quality care regardless of the ward chosen.
  • MediShield Life offers lifelong health insurance for all Singaporeans, covering large hospitalization bills and expensive outpatient treatments like dialysis and chemotherapy. Additionally, CareShield Life, launched in mid-2020, provides lifetime cash payouts for individuals with severe disabilities.
  • MediSave scheme helps Singaporeans set aside part of their salary each month to cover medical expenses, including surgery, hospitalization, health screenings, and medical insurance, benefiting both you and your immediate family.
  • MediFund acts as a safety net for those who still face financial difficulties after utilizing other subsidies and payments. From 2020, ElderFund also supports the severely disabled with financial difficulties.

If you have a chronic condition like high blood pressure or diabetes, the Community Health Assist Scheme (CHAS) now covers all Singaporeans with selected chronic conditions, irrespective of income. Polyclinics and public Specialist Outpatient Clinics (SOCs) also offer substantial subsidies based on means-testing and age, with special rates for Pioneer Generation and Merdeka Generation seniors.

CONSULT MEDICAL SPECIALISTS WISELY

Singapore offers a wide range of medical specialties in both public and private hospitals. Costs vary significantly depending on the specialty and facility. For example, consultations with dermatologists range from S$125 to S$250, while ophthalmologists charge between S$80 and S$350. Choose specialists judiciously based on your medical needs and budget.

EXAMINE YOUR HEALTH INSURANCE PLAN

Health insurance plans should align with your specific healthcare and lifestyle requirements. For instance, if you don’t plan on having children, maternity coverage isn’t necessary. Regular travelers might prefer plans with worldwide coverage.

Every Singaporean is covered under MediShield Life, a mandatory government health plan covering large medical expenses. However, its benefits are basic and tailored to Class B2 and C wards in public hospitals. To avoid high out-of-pocket costs for higher-class wards, consider enhancing your coverage with an Integrated Shield plan.

SAVE ON HOSPITAL TYPES

While healthcare quality is paramount, you can save significantly on room costs by choosing semi-private rooms or wards over private rooms. This can reduce your hospitalization expenses considerably without compromising the quality of care.

OPT FOR GENERIC DRUGS

Generic drugs are significantly cheaper than their brand-name counterparts while offering the same medical efficacy. For example, 20 tablets of Panadol (paracetamol) cost S$7.90, whereas 100 tablets of generic Paracetamol cost only slightly more at S$11.50. Always ask your doctor for generic alternatives or request a prescription to purchase medications from local pharmacies.

PRIORITIZE PREVENTIVE HEALTH

While health insurance and subsidies help manage costs, the best long-term strategy is maintaining a healthy lifestyle. Eating well, staying active, and avoiding unhealthy habits can reduce the need for medical treatment and keep healthcare costs low. Remember, prevention is better than cure!

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By leveraging government schemes, choosing the right insurance, opting for cost-effective treatment options, and maintaining a healthy lifestyle, you can manage and reduce your medical expenses effectively in Singapore.

Sources: 1 & 2

 

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Hidden Perks When Shopping for Luxury Items

If there’s one thing I adore, it’s luxury shopping. Many high-end items are not just splurges but smart investments that can be cherished forever or sold in the future.

Personally, Chanel and Dior top my list for makeup and fragrances, Louis Vuitton is my go-to for bags and small leather goods, and I gravitate towards Gucci for shoes. Given the hefty price tags, I’m always on the lookout to make the most of the freebies and perks these luxury brands offer.

Here’s a rundown of some fantastic opportunities you can take advantage of:

CHANEL

When you shop on Chanel’s website, you receive two complimentary samples with every fragrance, makeup, or skincare purchase. You get to choose from a variety at checkout. For better deals, you might consider shopping at duty-free stores; I snagged my favorite 50 ml Coco Mademoiselle EDT for S$162 at the Hong Kong airport, compared to S$165 in Singapore stores.

If you’re traveling soon, don’t miss the CHANEL Summer Club pop-up at Changi Airport Terminal 1, running until July 1st. Here, you can explore fresh, amber, or woody fragrances, radiant makeup products, and skincare essentials. Plus, you’ll receive a free Chanel postcard and badge.

LOUIS VUITTON

Building a good relationship with your Louis Vuitton sales associate can lead to delightful surprises like free perfume samples. My husband and I often receive free chocolates and champagne when we shop, thanks to the strong relationship we’ve built with our associate. He also shares his recommendations and helps us set appointments.

Whether it’s your first visit or you’re a returning customer, Louis Vuitton offers complimentary hot stamping on both new and pre-owned authentic items purchased online and in select stores. I recently had my luggage tag and pocket agenda personalized with unique city stamps and my initials. In Singapore, for example, you can get a special Merlion stamp. You can also collect exclusive city stamps (see samples here), such as the Manila Sun and Stars in the Philippines, Hachiko in Japan, or the Taipei 101 stamp in Taiwan.

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Additionally, when you order Louis Vuitton fragrances online, you receive a complimentary sample to try before committing to a full bottle.

DIOR

With Dior, after placing your first order, you receive a redeemable code for an exclusive Deluxe Miniature Gift with your second purchase. This code can be found on your order confirmation page and in your email. Simply enter it at checkout to claim your gift.

Dior also offers a loyalty program packed with perks. Every S$1 spent earns you 1 point, and reaching the highest tier, Dior Platinum, requires accumulating S$4,000. Benefits include complimentary samples and services, birthday bonuses, exclusive event invitations, and a variety of gifts throughout the year.

GUCCI

Gucci offers complimentary embossing and engraving services. Whether you’re picking up an order in-store, bringing in an item purchased online, or buying directly from a boutique, you can personalize your purchase with numbers, symbols, or letters. These services are available at Gucci Marina Bay Sands, Gucci ION, and Gucci Paragon.

Additionally, Gucci hosts events where you can receive free samples. Go to Gucci Beauty store* in Raffles City (#01-40A) by June 30, 2024, to receive a complimentary exclusive Gucci Beauty 8-piece discovery kit, while stocks last (*terms & conditions apply).

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Luxury shopping doesn’t have to be all about the hefty price tags. By taking advantage of these perks and freebies, you can elevate your shopping experience and enjoy some delightful extras along the way. Happy shopping!

Sources: 1, 2, & 3

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