MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

4 Absolute Ways To Spend Less and Save More This Valentine’s Day

Think your wallet can rest after the costly festivities of Christmas and Chinese New Year? Think again as we usher the season of love!

While Valentine’s Day is a great way to appreciation and affection to your significant other, I cannot deny the fact that the anticipated costs may cause a hole in your pockets. This year, however, you can turn things around if you are willing to put in creativity, time, and flexibility.

1. SAVE THE SPARKLES FOR LATER

If you are planning to purchase jewelry for your beloved, try to clamor dry out first. Since the demand for jewelry goes way down after 14th February, the retailers offer discounts to attract customers to buy their remaining products.

The only downside is that you have to discuss this with your partner in advance and seek his or her understanding.

2. AVOID THE CROWDS

Valentine’s Day 2016 is on a Sunday and more than ever, shopping malls and restaurants will be populated. Most places are jammed with couples and women holding on to their bouquets or stuffed animals. Beat this “competition” by scheduling a wonderful date on another day as long as your significant other is fine with it.

By doing so, you had avoided the crowd and maximized your savings.

3. OPT FOR AFFORDABLE FLOWERS

Since some people prefer getting blooms for Valentine’s Day, you would have to plan beforehand. Save money by skipping high-end or mainstream florists. Instead, visit your local grocery store or compare the prices of various online flower shops.

Image Credits: instagram.com/agoncilloanna

And if you are in the Gardens By The Bay area, I was got a bouquet of orchids there for only S$5.

4. CRAFT YOUR GIFTS BY HAND

What better message of love can you convey when you pour your heart on handmade gifts? Consider these gift ideas:

a. COOK TOGETHER

There is nothing sweeter than sharing your interests to your partner. If you are a fan of cooking and baking then, teach him or her the basic recipes and techniques. But, if neither of you have an expertise, lookup free online tutorials and prepare a V-Day dinner together.

b. SPECIAL CARD

Bring your wonderful memories to life by turning photos into very personal V-Day card. Print his or her favorite Instagram photos in JPEG format using glossy or matte photo papers available for as low as S$2 at Popular bookstores.

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1 & 2

Stay ultra productive at work with these simple and affordable tips:

1. LIGHT IT UP

A well-lit room increases concentration and effectiveness. In fact, a study by National Renewable Energy Laboratory found that employees who were exposed to natural lighting stayed focused on the task longer that their “sun-deprived” counterparts.

Replicate the effects of this study by positioning your table by the window or by placing a bright table lamp on your desk (here’s an IKEA table lamp for only S$4.90).

2. EMBRACE ERGONOMICS

Although most of our lives are spent while sitting, we are not designed to sit at desks all day. This is why people who are working a full-time job at the office may experience occasional back pains and other long-term problems. Avoid this and the costly hospitalization costs by investing on ergonomic chairs. Ergonomic chairs are designed to support your posture and boost your comfort while you work.

Purchase yours at LAZADA for as low as S$49.90!

3. STAY FOCUSED

Stay focused by eliminating all the unnecessary distractions such as noises and social media. Avoid online distractions by closing tabs that you do not need, keeping your phone on silent, and by not logging onto your social media accounts. Afterwards, drown out the background noises by wearing earplugs or headphones.

4. KEEP IT CLEAN

Excess litter and scattered rubbish can make you feel overwhelmed and distracted. Clean up your work space by organizing important documents inside drawers or labeled boxes. Also, organize your files with descriptive folders in your laptop or computer.

5. EXERCISE REGULARLY

Aiming for better time management skills and increased ability to beat the deadlines? Consider spending 30-60 minutes of your time per day to exercise. According to science, keeping your blood pumping at work may elevate your productivity for about 15%!

6. PAINT THE SPACE

The colors of your workspace automatically stimulates you and induces color-motivated behavior. Thus, you must alter your space based on your desired goals. If you want to boost your alertness and creativity – go for yellow. For improving reading and relieving stress and fatigue – go for green.

Image Credits: pixabay.com (License: CC0 Public Domain)

And if you want to reduce your feelings of aggression and irritation (with your demanding co-workers or horrible boss), decorate the space with nothing but pink!

Sources: 1, 2, 3 & 4

How To Start A Business While Keeping Your Full-Time Job And Sanity

Manage the stress of your full-time job while running a side business without going crazy with these 6 tips!

1. DETERMINE THE REAL REASONS WHY YOU ARE BUILDING A BUSINESS

Getting a clearer understanding of why you want to start a business is a crucial first step that every budding entrepreneur must take. Whether you want to accomplish a childhood dream or you are motivated to become your own boss, knowing your drives will help you focus and commit to your dreams. When you are committing to your dreams, you make sure to see it through to success.

2. READ THE FINE PRINTS

Before getting your full-time job, I am sure that you signed a contract or some paperwork for the HR department. Find those files and make sure that you did not sign any agreements that prevent you from building your own business. Get professional legal advice if necessary.

3. USE YOUR TIME WISELY

You are given the same number of hours as Bill Gates or Oprah Winfrey each day, maximize it! In a week, say you are given 40 hours of work and 56 hours of sleep, you will have about 72 hours left to spend wisely. Successful entrepreneurs strategically make the most of what they have instead of wishing for more time.

4. DEVELOP NEW SKILLS

As a start-up, you are testing every aspect of your business including the amount of labor necessary. Do really a marketing team or can you handle the marketing aspect by yourself?

Instead of hiring professionals to do the job for you, you can commit several hours in developing skills. Online educational websites such as General Assembly and Skillshare offer free and paid courses on a wide range of topics such as marketing, photography, and design.

5. SHOP FROM B2B WEBSITE

If you are planning to start your own shop or online business selling goods, you need to know where to source for your items. Sites like Taobao is the way to go, but if you want to enjoy greater discount or better price for each quantity of item, you need to purchase in bulk. That’s where VolumeBest, a B2B online trade site dedicated exclusively to wholesale and volume business buyers, can help you save money.

Volume Best carries a good range of consumer products such as mobile accessories, lighting peripherals, watches and other electronic goods at a very good price. They also offer free and secure UPS shipping to ensure that you receive your goods on time.

6. OUTSOURCE IF NEEDED

To finish the tasks faster and make money while you are at your day job, consider outsourcing.

When you decide to hire help, good sources of quality yet low-cost labor are university or polytechnic interns. If you are willing to spare some time to training, both of you can benefit from the experience. Think about it! You are giving a worthwhile experience and good recommendation for the intern while the business is receiving low-cost (and sometimes free) services.

7. ACCOMPLISH WHAT IS IMPORTANT

The Pareto Principle states that for many events, about 80% of the outcomes stem from the 20% of the causes. Simply, only a portion of your efforts lead to the effects. This is why the smartest decision is to focus your energy on the things that yield higher returns. When you are juggling two jobs, do not beat yourself up with the unnecessary investments and drama. Rather than doing everything, accomplish only what is important.

Image Credits: pixabay.com (License: CC0 Public Domain)

Sources: 1, 2, & 3

Best Places To Buy Affordable Bags In Singapore

(Image Credits: planthide.com)

English model Poppy Delevingne once said:

“I’m more of a handbag girl; my guilty pleasure is bags. I don’t even have a clue how many I own.”

Like Poppy, many Singaporeans have an undeniable fondness for bags. A bag is a statement piece not only because it blends your outfit together but also because it often sheds a light to your personality. With its importance and functionality, you may wonder about the best places to find reasonably priced bags.

Wonder no more as this list has you covered!

FOR EVERYDAY BAGS

Any person with a tight budget would know that one of the best places to shop at Orchard Road for standout ensemble is the Far East Plaza. With about 6 floors, this building is filled with bargain deals for just about anything you can wear! So for everyday bags priced as low as S$15, focus on the shops at levels 1-3.

FOR PERSONALIZED BAGS

If you like adding a personal touch to your bags then, you will love what GSEWS has to offer. GSEWS’ bags are handmade by a local self-taught crafter whose pricing strategy is set according to the materials and time spent while making each item. This is such a fair trade because you can customize a unique design based on your preference in colors, fabrics, and add-ons. Limited customization slots are up for reservation every 4th Sunday of the month.

Image Credits: https://carousell.com/gsews/

Image Credits: carousell.com/gsews

However, if you want to purchase the ready-made items, prices start at S$8.

FOR WORKPLACE BAGS

ZALORA Singapore comes to my mind whenever I think of workplace suitable bags that create a balance between shape, function, and affordability. Known for its wide range of international and local brands available at several countries, ZALORA is one of the top online retailers that sell bags, accessories, shoes, apparel, and beauty products for both men and women.

Here, I found a well-structured tote bag for S$34.90 as well as an adorable set of Cosmetic Bags for only S$10. Who does not need these organizational convenience at work?

Image Credits: www.zalora.sg

As for, I recommend the Medium Size Messenger Bag for S$16.10 and the Canvas Laptop Carrier for S$14.90 only.

BONUS: FOR LUXURY BAGS

Luxury bags are not exactly affordable however, you can still find some reasonably priced items if you know where to look. With prices that are over 80% lower than the retail price, how can you resist an online bargain deal? Consider these shops:

a. www.reebonz.com.sg: Reebonz offers the widest range for both new and pre-loved designer bags, wallets, and watches. From Chanel, YSL, to Louis Vuitton bags – they have it all!

b. www.brandsfever.com: Getting a great bag deal at the Brands Fever’s flash sale is like hitting the jackpot. But you have to be a site member to indulge all its benefits.

c. www.madammilan.com.sg: Madam Milan not only has an online shop but also physical boutiques in Far East Plaza, Raffles Place MRT, Tanjong Pagar MRT, and Star Vista. They offer prime selections of designer labels islandwide.

Image Credits: facebook.com/madammilansg

Image Credits: www.fb.com/madammilansg

Women in Singapore Struggle with Personal Finance, According to S&P’s Financial Literacy Survey

In Standard & Poor’s recent Global Financial Literacy Survey, it was found that a lot less women in Singapore know their way around personal finance than men.

67 per cent of men surveyed hit the threshold for being financially literate while only 52 per cent of women did so. This difference is one of the largest in the world.

While women make up the majority of university graduates, they still fall behind in financial literacy in 128 out of 143 countries. The participants were given a 5-question test over financial concepts: numeracy, risk diversification, inflation and compound interest.

The survey, done over 140 countries with 150,000 respondents, is one of the most extensive surveys done on financial literacy in history.

It also showed that Singapore has the most number of financially literate adults in Asia, at 59 per cent. Only 1 in 3 people in Asia could correctly answer the majority of questions–a number that is lower than the global average.

“We might have the highest number of financially literate people in Asia, but that’s still not enough. Basic concepts like compounding interest and percentages should be understood by all,” said Rohith Murthy, Managing Director of personal finance comparison website SingSaver.com.sg.

“Everyone should take an interest in controlling their own finances. The first step is to be aware of your expenses and where your money goes, then creating financial goals for yourself. Don’t sign up for financial products without fully understanding how it works,” he added. “Through education, Singaporeans can become more confident about making financial decisions.”

(This article is brought to you by SingSaver.com.sg)

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