When purchasing a flat, put the foreseen future to the equation. For instance, you must consider a bigger flat if you are moving in with your parents or planning to have kids soon. Planning in advance will help ease your stress and avoid the hassle of acquiring another home.
2. THE LOANS
Be open and honest with your credit score as your chances of getting a loan is affected by it. Consider how you can budget your income in order to support your family and pay fully for your loan through the years.
3. THE NEIGHBORHOOD
Your new HDB flat comes with a different environment – study it. You do not deserve to live next to a neighbor who throws parties every night or one who is constantly bothered by loan sharks. You deserve to live in a place where you can come home safely. As much as you can, talk to your potential neighbors and follow your guts about the place.
4. THE INSPECTION
Although you are purchasing a new flat, it does not hurt to have someone inspect it. This is not only to ensure the true value of the home but also to ensure that everything is working perfectly. This helps you save money for unwanted repairs. Look no further for an inspector as HDB provides this service for a price.
5. THE PRIORITIES
As a client, you must determine what you really want in a pad. Are the available facilities and specifications in lined with your priorities and wants? If not, are you ready to compromise? It is difficult to get everything you desire in a flat but your necessities should be on the top priority.
6. THE PRICE
Good news: HDB flats had become more affordable since 2013! According to the Housing & Development Board, the proportion of a household’s monthly income used to repay the loan installment decreased from 24% in 2013 to 19% in 2015. In fact, 8 out of 10 first-time buyers of new flats in non-mature estates were able to fully repay their monthly mortgage installments using only their CPF savings over the past 3 years. In the end of the house hunting, it truly comes down to the price.
It is best to compare the prices of the flats in the area before making a decision. This price must include other factors such as facilities in the building, quality of construction, specifications of the flat, and more. You must understand that the cheapest flat may not necessarily be the most economical option.
If you are looking for a new bank to open a savings account with, choose a bank that has the most beneficial perks and the highest interest rates. Check out “2016’s Most Profitable Savings Accounts In Singapore” to get an idea.
2. USE COUPONS WHEN SHOPPING
Couponing is a strategy used by a shopper to pay less in shopping for groceries, tickets, and more. Get coupons for dining, leisure, toys, pets services, and just about anything at cuponation.com.sg or groupon.sg.
3. PLAN AHEAD
Aside from making a grocery list and sticking by it, it is good to trust your routines by having the previous receipt along when you shop. With that receipt, you can tell when something is on sale. That is when you must stock up.
Eliminate your consumption of snacks, chips, and sweets. These types of food are not only unhealthy but they are also costly. Who knew that making healthier choices can help you save more?
6. SELL YOUR COLLECTIBLES
If you had spent hundreds of dollars on collectible items, you can start selling them now and use those funds to reach your financial goals. Try selling your items to the worldwide marketplace platform of eBay and Gumtree.
7. CONSUME THE LEFTOVERS
Save the unconsumed food when you either ordered too much restaurant food or when you cooked excessively. Revamp the dish by topping fresh greens, juicy fruits or leftover slices of chicken.
8. UNPLUG REGULARLY
Even if you turn off the switches, your appliances and electronics will continue to consume energy and spike your tariff. So reduce your bills by unplug your cables and electronics when not in use.
9. REPAIR YOUR OWN CLOTHING
Instead of tossing your shirt because of the missing buttons, sew new buttons that perfectly match the old ones. Learning and mastering the basic sewing stitches can help you save money and extend the life of your favorite clothing.
10. USE FREE AND OPEN-SOURCE SOFTWARE
Stop paying hundreds or thousands of dollars on programs that can be obtained for free with the same level of performance, quality, and reliability. Use free and open-source software such as the packages on thislist.
According to the Merriam-Webster Dictionary, Cybersecurity (or online security) is defined as the measures taken to protect a computer or a computer system against unauthorized access or attack. Those who gain unauthorized access to the data in the computer or the system are usually called as hackers.
Recently, I had been a victim of a Facebook malware attack. For those of you who are less tech savvy, a malware is any software used to collect sensitive information, harm computer operations, gain access to private devices or display undesired advertising. Needless to say, the experience was daunting and I had to take immediate actions. Firstly, I downloaded anti-malware softwares. Secondly, I changed all my passwords and added an extra layer of security. Lastly, I added other extensions that improved my privacy.
To avoid this scenario, here are some helpful ways to strengthen your virtual shield:
1. ADD THE PRIVACY BADGER
Remember the undesired advertising that I was talking about? You can block that as well as other third-party trackers by adding the browser extension called Privacy Badger for S$0. To the advertisers, it is as if you suddenly disappeared!
2. SCAN WITH MALWAREBYTES
As your information is golden, keep it safe with an internet security and anti-malware software called Malwarebytes. The free version will scan your entire computer, detect any malwares, and remove all the infections. Scans for the most dangerous and newest threats are done in the process.
3. FILTER YOUR EMAIL
Filter your email contents by not opening the spam mail. To avoid downloading virus or other malware, only open attachments that were given by your friends, family, partners, and clients. Delete the previous emails that are no longer needed so that no one can use them.
4. SECURE YOUR BROWSING
To make your browsing more secure, download the HTTPS Everywhere extension. It encrypts your communications to major websites on Firefox, Chrome, and Opera. Get it for free at eff.org/https-everywhere.
5. SEARCH WITH DUCKDUCKGO
Search engines, especially those with big names, track your search history and build personalized profiles to provide results based on your search history. To escape from this “filter bubble”, you must switch to a search engine that does not track your every move. Emphasizing on protecting the user’s privacy, DuckDuckGo is always my go-to safe search engine!
Image Credits: pixabay.com (CC0 Public Domain)
Yes! It is totally free with no sign-in requirements.
A recent study showed that 85,352 Singaporeans have unsecured debt and missed payments attached to their credit card bills. Whether it is due to untidiness or carelessness, these missed payments increase the charges and interest rates to further trap you into a vicious debt cycle.
These credit card mistakes are lethal as it causes great destruction to your finances.
SETTLING YOUR BILLS LATE
One of the most harmful credit card mishaps are late payments. Not only are you bound to pay the “late payment charges” but you also have to pay interest rates for some banks. Interest rates elevate your outstanding balance with each passing day.
For example, if the minimum payment is not received upon the due date, you will have to pay S$60 for your DBS Live Fresh Card and S$80 for your OCBC 365 Credit Card. If you pay your outstanding balance by the due date of your statement and there are no additional balances from the previous statements then you will pay no charges.
Solution: Stay organized to keep up with your bills. Set aside some time in the beginning of the month to make a list of the bills you are expecting to receive. Put it on your working desk or create a file for it. It is safer to pay the bills at least two days before the due date.
Alternatively, you can get your payments automated. Since you are prepared for the bills earlier on, you may have available money in the bank to pay it the same day as you received it. If you have automatic payment scheduled and you still received a billing statement, call your bank or creditor.
GETTING INFLUENCED BY THE PERKS
A number of Singaporeans are swayed by the credit card companies because of the free gifts and the attractive reward system they offer. While there is totally nothing wrong with desiring these things, it is a mistake to choose a card for its benefits alone. These “free gifts” you receive upon signing up usually come with several terms and conditions.
For example, credit card company A offers you a free luggage as a welcoming gift. However, you have to fulfill the minimum purchase of S$1,500 to claim this gift. If you cannot accomplish this within the given amount of time then your “gift” will no longer be received.
Solution: Before choosing a credit card, you must compare its entire features as well as its fine print. In the fine print, you will discover the different charges, limits to rebates and terms of the welcoming gift.
Image Credits: pixabay.com (CC0 Public Domain)
CLOSING OUT YOUR CARDS
Closing out your cards because they are underused or because you had finally paid off your entire balance may not be the best move for your credit score. Remember, two important elements of the credit score are the utilization rate and the average age of your credit accounts. The goal is to have a long credit history and a low utilization rate. Both of these elements are affected if you closed out your cards.
Solution: Keep your credit cards in a safe place and make a purchase every once in a while to demonstrate that you are a good steward of your card. Immediately pay off the balance too.
Singapore is considered to be one of the most expensive cities in the world. For outsiders, Singapore can come off as an exotic gateway to Asia. However, for all of us who live here, we feel crippled by the rising costs of daily lives, let alone spending on entertainment. We felt your pain, did some research and came up with the perfect list.
Here are twelve fun ways to blow off steam… all for under S$50.
Bring out Your Inner Hamilton at Kart World
For the price of $28, you can enjoy a 10 minute session around Kart World’s driving track behind the wheels of a furious Go-kart. Challenge your friends to a few rounds.
Hit the Sky at G-Max Reverse Bungy
For $45, you can hit the sky in heart-stopping seconds, with adrenaline gushing through your veins. Enjoy the breathtaking view of Singapore’s night lights over at Clarke Quay as you spin and whirl your way up.
Get the Ball Rolling at ZOVB
(Image: ZOVB Singapore)
Go zorbing at ZOVB Singapore and let your head spin wild as you roll down in your own zorba. For $50, you can roll down twice and for an additional $18, you can zorba your way down memory lane for another half hour.
Declare War with Crossfire Paintball
(Image: Crossfire Paintball Singapore)
Head down for a two hour paintball session at Crossfire Paintball for $40, with which you can buy yourself a whopping 250 pellet heavy ammunition. Don’t forget to take that friend along!
Pretend to Climb Everest at SAFRA Yishun Country Club
With 1,000 square meters of climbing and bouldering surface, SAFRA Yishun Country Club provides a wide range of rock climbing walls. The club is host to the first artificial ice-climbing wall in Southeast Asia.
If you get too bored, or tired, you can also get your adrenaline pumping with a parachute jump simulation from a height of 21 metres.
Get Your Observational Powers on at Tiger Sky Tower
Head over to Tiger Sky Tower in Sentosa, Asia’s tallest observatory tower, to get an unprecedented view of Singapore (S$18/Adult S$10/child).
Find Inner Peace at Gardens by the Bay
Reconnect with your natural self at the awe-inspiring and tranquil Gardens by the Bay. While all outdoor areas are free to wander, your credit card can buy an amazing $20 pass for it’s treasured conservatories.
Celebrate Independence with the SG50 Inter-Generational Package
Reconnect with your history by purchasing a treasured bundle of admission to Madame Tussauds Images of Singapore LIVE and an option of experiencing the Gogreen Segway Fun Ride (2 rounds) or Sentosa Merlion, all for $30.
Experience the Wildlife
For $28, you can buy yourself a 1 year unlimited entry pass to Jurong Bird Park. If birds aren’t your thing, then you can also choose to go for the exciting Night Safari for $42 or visit the local Singapore Zoo for $32. Go on, bring out your wild side!
Blow off Steam with Some Drinks
There’s nothing better than grabbing a few drinks on a friday evening in order to blow off some steam. Grab your friends and head over to the various bars and clubs which come alive as the sun sets to rest. Although a night out in Singapore is often expensive, there are still more than enough places that offer extremely attractive happy hour deals.
For example, For an approximate $30, men and women can buy themselves the right to drink all they can at Idle-bar/lounge/bistro. At Five Izakaya, you can get yourself a house pour or a snack for a measly $5++, while The Cider Pit provides you a pint of beer for $10, all day, everyday. Some other places with great deals consist of Loof at Odeon Towers, Lobby at 9, Wine Connection and Wine Bos on Stamford Road. So, take your pick!
Everywhere we go, all we see are malls and stores and malls and stores. Well, if you’re a shopper with a card, budget, and purpose, we recommend Far East Plaza. Located on Orchard Road, this mall has over 600 stores filled with affordable fashion.
We also recommend for you to go to the more manageable Editor’s Market. Also on Orchard Road, this is the only brick-and-mortar store which offers cheaper items with every extra purchase you make.That’s right, the more pieces you buy, the cheaper each piece gets! Now that’s a pie we’re willing to taste.
Eat Your Way through Singapore
There are so many ways to save money on dining in Singapore. If you would like a little bit of Paris on your plate, we recommend you head over to Saveur, a reasonably priced French restaurant with a simple ambiance and a beloved menu. The food is incredibly delicious and patrons swear by it.
If you’d like to head over to North America, then nothing spells Mexico like Piedra Negra, a charming little Mexican restaurant in the middle of Haji Lane.Much like Much like Saveur, the menu consists of dishes which mostly cost S$30 or less.
You can also cater to your oddly houred breakfast cravings at Club Street Social, where you can indulge in an all day breakfast menu, or your need for comfort Italian food at Prego and Pasta Brava. For under $40, Prego offers a festive four-course Italian set lunch at the Fairmont while Pasta Brava helps one indulge in fresh, handmade pastas.
(Image: brazilchurrasco.com)
We also recommend Brazil Churrascaria, a haven for meat lovers. For $40++, you are provided with delicious barbequed meat in unlimited quantities. Similarly, Shin Minori Japanese Restaurant provides one with an eat-all-you-can ala-carte Japanese buffet with an extensive selection of sake and shochu for the unbelievably reasonable price of $39++.
The best part about the list? It’s not exhaustive! That’s right, we’ve done our research and found an unimaginably large number of exciting things to do in Singapore, all for less than $50.
Anna Agoncillo
MoneyDigest
