Incredibly Free Things That You Can Get At Hotels

Whether you are a frugal Fred who wants to get your money’s worth or a forgetful Bessy who left some of your travel necessities at home, here are some hotel freebies that are both money-saving and useful:

1. BATH ESSENTIALS

Let us start with the obvious freebies that guests typically take home – the bath essentials. Although you packed a sufficient supply of bath essentials, it does not hurt to pack a little more for future use. Keeping the shampoo and conditioner bottles as well as the soaps can save you a decent amount of cash.

If you have sensitive skin and experience adverse effects with the hotel soap, use it for other purposes. Keep the bar of soap and use it as a freshener for your drawers or shoes at home. Or, you may use it to clean your cosmetic sponges.

2. NEWSPAPERS AND MAGAZINES

The array of newspapers and magazines left at your room are not only free but also helpful. Firstly, you can use the valuable coupons inside to pay less in shopping for groceries, tickets, and more. Secondly, you can use these publications in the event that your child needs to cut pictures for his or her school projects. Lastly, you can use these publications as decorations to your dull office.

3. CURLING AND STRAIGHTENING IRONS

To all my fellow beautiful women out there who want to look their best but forgot to bring their trusty curling or straightening irons to the hotel, worry not! Many major hotels (i.e., large hotel chains such as Hyatt) offer loans for these hair styling items. Simply approach the front desk and ask politely for what you need.

4. SEWING KIT

Tailoring or sewing services in Singapore can range from S$5-40 depending on the type of clothing article. Some of the prices are too much if you asked me! You might as well buy a new one. Good thing there is a better and quicker option – altering clothes by yourself. But, how can you alter your clothing while on vacation?

Say you broke the straps of your backpack. Having a sewing kit can solve this problem right away. Thankfully, your Trump Hotel room has complementary sewing kits. Like Trump Hotel, many major hotels have free sewing kits on-hand. Remember to bring those kits before you checkout!

5. DENTAL CARE

The worst thing that I can forget while on a vacation is my own toothbrush. Unlike the couples who are comfortable with sharing one toothbrush, I will never use someone else’s! This is why I am very grateful that hotels provide basic dental care products such as toothbrush, toothpaste, mouthwash, and floss.

Image Credits: pixabay.com

Image Credits: pixabay.com

Minty fresh breath does not always come in cheap packages! In fact, a bottle of mouthwash can cost you about S$4-14. Hence, I suggest that you pack that free mouthwash with you.
Sources:  1 & 2

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Travel Hacking: How to Score a Free Flight with Singapore Airlines

If travelling was free, you’d never see me again

Many of us love to travel, but the idea of parting away a significant portion of your salary on just the airfares alone is going to put off most of us. What most people don’t realize is that it doesn’t have to cost you an arm and a leg to fly — and there’s a group of people who have been gaming frequent flyer programs to get free flights.

A concept known as travel hacking, if used correctly, can be used to save loads of money on your next air ticket to your dream destination. Then there’s this infamous story of how a civil engineer earned 1.25 million air miles by just buying pudding. Of course, you are not going to see that happen in Singapore.

There are many ways for you to earn miles in Singapore and the most straightforward way is through airline rewards credit cards. If you are new to this, you can start off with the FlyerTalk’s forum where you can see many discussion on what’s the best credit card to earn miles,

Choosing the right credit cardAmericanExpressKrisFlyerCreditCard-300x190

The next step is to choose the right credit card that meets your spending needs. For an entry-level card, we picked the American Express Singapore Airlines KrisFlyer Credit Card where you just need a minimum income requirement of S$30,000 to apply. You can earn 1.1 KrisFlyer miles per S$1 spent locally and 2 KrisFlyer miles per S$1 spent overseas on June and December.

Pick the low-hanging fruit first

American Express have several welcome offers that you should take advantage of. For example, they are giving away 5,000 KrisFlyer miles when you charge to your card for the very first time. You can basically swipe any amount to you card to earn this.

There is also a 3,000 KrisFlyer miles which you can easily earned when you spend at least S$700 in the first 6 months upon Card approval. It’s not that hard, really.

For a limited time only, make a Grab Ride booking with your card and you get another 500 KrisFlyer miles between 5 May 2016 and 4 May 2017.

Grab2

You should aim to pick up all these “easy” miles first and we are talking about a total of 8,500 KrisFlyer miles that doesn’t require you to spend too much money and time to achieve it. With that miles, you can already redeem for a free one-way Economy Saver flight to Bali with Singapore Airlines.

Work towards your goal

Now that you already have 8,500 KrisFlyer miles in your pocket, you can work towards your goal of redeeming higher-tiered awards such as a return tickets to Bangkok, Hong Kong and/or other popular destinations that you would like to travel. Check out the Singapore Airlines Awards Chart for more details. If you have a KrisFlyer’s account, you can use the miles calculator.

Start accumulating your miles

The key to accumulating your miles is to make your spending counts. Charge any daily expenses that you can think of to your credit card.  Assuming you diligently do it for a year, here’s a rough estimate on how much miles you can accumulate:

Transaction KrisFlyer miles earned
1st Transaction Welcome Bonus 5,000
Spend S$700 in 6 months 3,000
First Grab Ride booking 500
Pay for Starhub bills (Mobile, Broadband, etc) at S$120/month 1,584
Top-up EZ-Link Card using EZ-Reload at $80/month 1,056
Travelling to Hong Kong with AMEX-exclusive SQ fares at $188/pp (for 2 pax) 752
Hotels booked with Kaligo.com (3-night at Hong Kong Gold Coast Hotel at $163/night) 3,490
Spending in Hong Kong (S$1,000) 2,000
Dining out with friends $250/month 3,300
Movie at Cathay Cineplexes (Twice a month for 2pax) 660
Pay for groceries at FairPrice $100/month 1,320
TOTAL 22,662

SG-SeoulA one-way economy saver ticket to Seoul costs 22,500 KrisFlyer miles, and you can redeem your miles without converting them as they are credited to your KrisFlyer’s account directly. Some miles cards requires you to pay a fee to do the conversion, so you enjoy the benefit of free conversion with this co-branded card.

Take advantage of other card benefits

American Express let you enjoy up to 50% savings with American Express Selects at a wide selection of restaurants in Singapore and around the world. On top of that, you enjoy exclusive fares to 8 destinations with Singapore Airlines including an all-in return ticket to Hong Kong from just S$188 — if you get your card approved by 15 Jul. Click here for the full list of destinations

8 exclusive

This American Express® Card is also eligible for use with Apple Pay.

Sign-up for a miles card today

There are many cards in the market which have higher rates such as the UOB PRVI Miles Card and Standard Charted Visa Infinite but requires a higher annual income of S$80,000 and S$150,000 per year. This will accelerate your accumulation process and you can consider upgrading your card once you meet the requirements.

For now, you can start off with the DBS Altitude Card or the American Express Singapore Airlines KrisFlyer Card which requires just a $30,000 annual income to be eligible.

Sign up for the American Express Singapore Airlines KrisFlyer Card before 31 Oct and you also receive S$80 worth of NTUC vouchers.

Apply online and get instant decision within 60 seconds.

Apply Now Button

How to get additional S$80 NTUC vouchers

Step 1: Click on the above products to apply

Step 2: Take a screenshot of the Thank You Page at the end of the application

See below for examples of Thank You Page of each bank

Step 3: Fill in the Form on SingSaver.com.sg

Fill in the form before 31 October 2016 to participate in the promotion! You will receive an email from SingSaver.com.sg after submitting the form. Reply with the screenshot of card approval from the bank after you receive it to claim the voucher!

form

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Factors Affecting The Currency Exchange Rate Of Singapore

The Currency Exchange Rate is one of the most important means to quantify the country’s level of economic stability and economic health. It refers to the “rate at which one country’s currency may be converted into another”.

The market where these currencies are regularly traded is called Forex. The Forex market, the most liquid market in the world, includes all of the global currencies. There is no central marketplace for trading these currencies; however, there are financial centers in Singapore, New York, Tokyo, Zurich, London, Sydney, and Paris.

Exchange rates fluctuate regularly with diverse market factors affecting it such as inflation and government debt. If you are planning to send or receive funds from overseas, you need to be in constant lookout of the changes in the foreign exchange rates.

INFLATION RATE

A country’s inflation rate causes a change in the value of its currency. For example, if Singapore experiences high inflation, you will observe a depreciation in the Singapore Dollars (SGD). This high inflation is typically related to the higher interests rates. In contrast, if Singapore experiences low inflation, you will observe an appreciation in SGD. And the prices of the goods and services will increase at a slower rate.

The average inflation rate in Singapore from 1962 to 2016 is 2.69% – reaching its all time low of -3.10% in 1976.

This observable negative inflation or deflation is not good. It happens when the prices of the commodities fall because the supply is greater than the demand. It can ripple the economy and later lead to high unemployment, recession, and depression.

GOVERNMENT BUDGET

A government’s budget surplus or deficit have an impact to the currency exchange rate. For instance, when our government’s budget surplus is expanding, the exchange rate of SGD will grow competitive.

The financial regulatory authority and central bank of Singapore is called The Monetary Authority of Singapore (MAS). An important institution that supports the effectiveness of the interventions given by MAS is the Central Provident Fund.

INTEREST RATE

The interest rates set by the central banks influence the customers and investors. First, it affects the borrowing behavior of customers. If the economy is overheated, central banks may increase its interest rates to make borrowing more expensive and discourage people.

Second, it affects the balance between the investor’s safety of funds and the yield returns. For example, the yields for assets in SGD increases as interest rate goes up. This leads to an increased demand by investors and eventually lead to the appreciation of Singapore’s currency.

GOVERNMENT DEBT

The government debt (public debt or national debt) is the balance owed by the government. Countries with immense amounts of government debt are less likely to receive foreign investors and foreign capital. As an effect, decrease in the value of their currency exchange rate will follow.

The  is 105.6% as of 2015. This signifies the country’s ability to pay back its debt.

Image Credits: pixabay.com

Image Credits: pixabay.com

Sources: 1, 2, 3

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5 Surefire Ways To Waste Money

Many posts on financial websites concentrate on the positive topics such as the effective ways to spend money and the healthy financial habits of successful people. However, these articles may not highlight the negative habits and practices that cost you money. And some people really need a wake -up call!

To help prevent unhealthy behavior as well as to add in the scarce literature on this topic, here are 5 Possible Ways To Waste Your Money:

1. GIVING IN TO DESIGNER GOODS

As you walk past the Orchard Road, you saw the huge crimson sign that said: “SALE”! Your highly elated self rushed through the counter and bought the first branded bag you saw. The rush was amazing but it did not last for long. The next day, you saw an email from Zalora that they are having discounts on Michael Kors’ watches. The Silver Steel Bradshaw watch used to cost S$439 but it is retails for S$307.30 now. Again, you got excited and bought it right away.

Do really need a new designer watch and a new branded bag when you have dozens at home?

These deals may seem like a bargain at the moment; however, it is just excess spending in hindsight. This is why you must list down all your necessities and stick with it.

2. AVOIDING NEGOTIATION

Although most people know that they are worth more, they are afraid to negotiate for a higher salary. By doing so, they are letting an opportunity and hundreds of cash slide.

Negotiating your salary is a game with all of its players attempting to dominate each other. Dominate the game by researching all the needed information. Go in-depth about the complete aspects of the job and the company. Also, collect data about the average pay and accurate salary opportunities in your position.

3. SHOPPING AT ONE STORE

It may be convenient to complete your shopping list at one place but it can also cost you more. Instead of getting your produce, office supplies, and toiletries at the nearby grocery store (e.g., FairPrice or Cold Storage), consider exploring other options such as the bookstores (e.g., Popular or Kinokuniya) and dollar stores (e.g., Value Dollar or Daiso). Visit the dollar stores for trivial things such as cleaning supplies, greeting cards, clothes pegs, and pet accessories.

4. BUYING BABY CLOTHES REGULARLY

Believe me when I say that babies can have sudden growth spurts so, it is unnecessary to buy loads of baby clothes in advance. It goes the same for shoes, as socks will be sufficient to keep their cute toes warm.

Start saving for baby clothes by asking your friends and family if you can have their child’s outgrown clothes. You will not only help your friends or family members to de-clutter their space but you will also save more.

5. INDULGING ON LUXURY BEAUTY PRODUCTS

With the society’s obsession towards physical appearance, it is no surprise that people spend so much on beauty products. There is an abundance of luxury beauty products in countries such as Singapore, Dubai, United States, and Hong Kong. This is one example:

As you can see Tati, YouTube’s famous beauty guru, disliked her experience with the ridiculous US$330 (S$441) Givenchy Le Soin Noir Lace Face Mask. She could have just purchased a S$2 Korean Snail mask and achieved seemingly similar results.

Sources: 1 & 2

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How To Effectively Send Money From Singapore To Overseas

Whether you are a concerned parent who needs to send money to your Singaporean child abroad or an honorable foreign worker who needs to send money back home, you must employ some strategies to remit.

The act of sending funds is called remittance. Remittance service involves the transfer of money to an individual that is a resident of another country or an individual that is temporarily staying outside of Singapore. To remit funds effectively, you must choose an appropriate type of service, determine the total cost, and confirm all the details.

SWIM THROUGH A SEA OF OPTIONS

The advancement in technology increased the options for global money transfers. To regulate this, the Monetary Authority of Singapore issues license to qualified remittance services in Singapore. You shall not engage and support the services of unlicensed people.

MoneySense advises the public to remit funds by approaching a licensed remittance agent or an established bank. Nonetheless, here are the common options to remit:

a. Cash to Cash

If your recipient does not have a bank account overseas, an ideal option is the cash-to-cash basis. In this service that is operated by Western Union and SingPost, you walk-in with the cash and let the company deliver it to the recipient of a particular destination. Since your funds will be converted to the country of choice, the service fee and exchange rates can vary.

b. Telegraphic Transfer (thru Banks)

Bank wire transfers move funds from one account to another – no matter where the other bank account is. Although this is usually the weapon of choice, it can be the most costly due to the high service fees and exchange rates. For instance, DBS Overseas Telegraphic Transfer charges about S$20. Payments made through this service usually arrive within 1-4 working days.

Please take note that some banks offer services that will let you remit online or through their Smartphone App.

c. Online Services

The most convenient option of them all is thru online money transfer services such as the renowned PayPal. Paypal enables you to send and accept moneys online without revealing all your financial information. In fact, you can send money to almost anyone with an email address or a handphone number.

What is nice about PayPal transfer is that there is no minimum amount and it charges as low as 0.5%.

FIGURE OUT THE TOTAL COST

The total cost to send money is determined by the fees charged by the service provider, the daily exchange rates, and the total funds that you need to transfer. These factors can vary and fluctuate frequently. Thus, you must collect and compare these information as soon as possible.

VERIFY ALL THE TRANSACTION DETAILS

Once you determined the most economical and convenient option, you must confirm that the provider will be able to promptly deliver your money to your desired recipient. Furthermore, you must verify all the information and get everything in writing. Keep all the receipts, emails, and documents in case something goes wrong.

Sources: 1, 2, & 3

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