MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

4 Most Fashionable Shopping Places Fit For The Student’s Budget

Polytechnic and University students are generally not required to wear uniforms. Although, that does not mean that you come to school with slippers, singlets, and miniskirts. You still have to look fashionable, poised, and appropriate at all times. Looking for shops that are friendly to a student’s budget may be tough but not if you know where to shop. Start with this list…

1. FAR EAST PLAZA

Any student 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! From shoes, to tops, and even manipedis – Far East Plaza has it all for you.

My favorite shop for clothes is the BlogShopping at level 1 because it combines various famed online shops in one (physical) store. SetApart, WonderStellar, VogueAvenue, and Love x Theory are just some of the brands they carry. The prices for their clothes range from S$19-30.

Image Credits: facebook.com/pages/BlogShopping/214479001950446?sk=timeline&ref=page_internal

While for shoes, I recommend Covet and Plain Jane shoes at level 1. They offer stylish shoes for as low as S$10.

2. *SCAPE

This list will not be complete without mentioning *Scape Underground. *Scape Underground is filled with online or blogshops that sell their items at the cheapest prices. Unique accessories for as low as S$5 – can be found here. If you are lucky, you can chance upon ELF or NYX cosmetics that retails for as low as S$3. Nonetheless, inexpensive yet cool phone cases will always be available there.

3. ZALORA

Known for its wide range of international and local brands available at several countries, ZALORA is one of the top online retailers that sell accessories, shoes, apparel, and beauty products for both men and women. If you are a student who loves to be decked out in flashy bling then, you are in lock. ZALORA is currently having up to 50% off on their items so; their rings and ear studs can be purchased for as low as S$2-3!

4. THE EDITOR’S MARKET

Probably one of the most fashion forward shops with prices ranging from S$20-50, The Editor’s Market is minimalist, hip, and chic. Certainly, it perfectly exudes the youthful vibe! Whenever I am here, it is impossible to not find something I like.

The catch is: if you purchase two or more items, you get to save even higher! So, if you are planning to purchase here, it is best to grab a trusted friend along to guide you and lower down your total receipt. Their stores are located at Cathay Cineleisure and Orchard Central.

Image Credits: facebook.com/theeditorsmarket

Awesome IKEA Hacks You Wouldn’t Want To Miss

Aside from Sephora, one of the beloved brands in Singapore and beyond is IKEA.

IKEA is the Swedish brainchild of Mr. Ingvar Kamprad. Well known for its modern architectural products that ooze simplicity, from furniture to plants and even Swedish meatballs, IKEA offers a wide range of items essential in your home. Most of their products are not only elegant but also affordable. That said, who would not fall in love with this brand?

From becoming a part of the IKEA family to following them on social media, these hacks could take your IKEA savings game to the next level:

1. BECOME A PART OF THE IKEA FAMILY

You would be surprise to know that IKEA offers a free discounts program with no strings attached! As an IKEA family member, you are entitled to several benefits such as special discounts, members-only savings events, monthly offers on the Swedish Food Market, and complimentary coffee or tea with each visit.

There are two kinds of membership called temporary and permanent. A temporary membership gets to enjoy the lower prices, discounted meals and complimentary drinks for a year while a permanent member who spent S$150 within a year will enjoy the full suite of benefits.

Becoming an IKEA family member is easy and quick. All you have to do is to sign up for their temporary membership at any IKEA Family kiosks located around their stores (i.e., IKEA Alexandra or IKEA Tampines) or online (i.e., here). These are the current product offers for members only are available here.

2. SHOP WITH A SATIATED STOMACH

Going inside an IKEA store may not be the best idea if you are hungry. It could lead you to splurging at the kitchenware section or at the restaurant itself. You mindlessly go to the products and the meals simply because you want to satisfy the hunger within. Personally, it is hard not to get tempted by the aroma and the looks of their food even when you are full. So, it is best to eat a large meal before heading into the store.

3. ASK FOR REPLACEMENTS

If there are missing parts or a part is defected, do not pay for extra parts. Instead, call or head to the nearest store to ask for replacements. Check the assembly manual for the name of the product and the “number” of the missing parts to communicate smoothly with the IKEA staff.

4. COME PREPARED

Before purchasing anything, it is good to read the reviews and to compare the prices so that your money would not go to waste. IKEA offers a smart way to help you save and it is called ELP. ELP stands for “Even Lower Price”.

As the name suggests, this means that the product is marked lower than before. Thus, you get more savings on various items from lighting to decorations, and so much more. Browse ELPs for yourself, here.

5. GIVE THE PERFECT PRESENT

I for one dislike it when I purchased something that is not fit to the person’s size or style because they will have to put an effort to returning and replacing it. The added effort defeats the purpose of giving the gift. And if you are planning to give a present for your friends’ housewarming then, the stakes are much higher! You must not only find an item that is suitable for the house’s look (which you might have not seen at this moment) but also for their daily needs.

Fortunately, IKEA offers Gift Cards ranging from S$20-1,000. By giving them dated gift cards, you can finally ease your worries, get the value of your money, and help them find the perfect present!

6. UPGRADE YOUR SMALL FLAT

It is no secret that most flats in Singapore are relatively small to ensure that the country’s land is maximized. That said, aside from the 5 Simple Ways To Maximize Your Small Flat Without Spending Too Much, there are other easy ways you can upgrade your flat with IKEA products.

a. Lighting

Aside from opening your blinds to let the natural light flow freely, you can add lamps and spotlight to make the interior appear larger. The adjustable JANSJÖ LED clamp spotlight is available for only $14.90 – SG50 Sale Price.

b. Mirrors

Mirrors can help open up the small space especially if it is placed behind a light source. Get a mirror that is water-resistant and adjustable by purchasing the FRÄCK for only S$19.90.

7. MAKE DIY IKEA PROJECTS

Another genius hack is to purchase cheap IKEA items that are multi-purpose. For example, you can use the DUNSÖN trolley (S$34.90) as a foldable drying rack for your socks or undergarments. All you have to do is to read the instructions – here.

Image Credits: ikeahackers.net

And, if you are a couch potato like most of us, you will never lose a remote again with this DIY project that transforms NJUTA slippers (S$1.90 – SG50 Sale Price) and TOGA place mat ($1.90) into a couch caddy.

Image Credits: instructables.com/id/IKEA-HACK-couch-caddy

You can also put magazines or beverages in these assorted colored slippers. 🙂

8. FOLLOW THE DEALS

Come prepared before you walk inside the store’s door by stalking them on social media. Get the inside scoop of their product launches, store activities, and latest deals on furniture, toys, kitchenware, plants, and so much more by following facebook.com/IKEASingapore.

Currently, the page shares that “SG50 Sale” is ongoing until August 23. With massive discounts of 50% off storewide, you can certainly make the most out of your dollars!

Sources: 1, 2 & 3

6 Kinds Of Friends Who Can Positively Influence Your Finances

Thomas Monson once said: “Choose your friends with caution, plan your future with purpose, and frame your life with faith.”

What if you can plan a financial future with a purpose by choosing your friends carefully? Yes! That is possible.

You may not be able to change the personalities of the people around you but you can change the people whom you choose to be around all the time. Filter out toxic financial relationships and know the 6 Kinds Of Friends Who Can Positively Influence Your Finances…

1. OBJECTIVE ADVISOR

A friend who can give objective monetary advice is the one who is unbiased, unemotional, unprejudiced, and fair-minded. This friend can have a hearty chat with you to point out your financial flaws and give you feasible solutions. An objective advice is something all of us need to hear, especially when it comes to financial and spending habits.

2. CHEERLEADER FRIEND

A cheerleader friend does not exactly need pompoms or shout chants. This type of friend is the one who supports and encourages you even if they do not share the same financial situation. After talking to the objective advisor, you can ask this friend to help you keep track of your financial goals. Having a supportive confidant who will boost your self-esteem can be beneficial for your discomforting situation.

3. FRIEND CARRYING SIMILAR BURDEN

Are you feeling hesitant to decline a group trip offer because of the fear that you are the only left out in the group? Not anymore. If you have a friend who carries the same loads or the same financial situation as you then, the both of you can find ways together. You can either cancel the trip or help each other to build a travel fund. This friend will understand and support your monetary decisions.

4. GENEROUS FRIEND

If you have a friend who will lend you money in a heartbeat then, consider yourself very lucky! However, you must not abuse this generous gesture and pay the sum back as soon as possible. Do not turn into a friend who never repays instead, you must take care to not burn any bridges with your generous friend.

5. RESOURCEFUL FRIEND

There was an American series once called “MacGyver” wherein a top agent defeats his enemies by using his vast scientific knowledge in creating weapons out of the things available in the room such as paper clips or duct tapes. Like MacGyver, a resourceful friend maximizes the use of what he or she has. With his or her resources in money and people, this trusted friend could help solve your financial problem. Although, being resourceful is not easy, it takes a combination of handwork, social skills, experience, talent, and luck.

6. FINANCIAL EXPERT

A financial expert may be the best kind of friend to positively influence your finances. With a background in finance, this friend can help you improve your financial accounts or help you cut down your spending.

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

If you do not have many financial expert friends right now, fret not. Money Digest has your back. 🙂

Sources:1,2, & 3

6 Affordable Home Remedies For Common Travel Sickness

According to a survey, 6 out of 10 people fall sick overseas every year. There is a higher susceptibility to common travel sickness such as colds, sunburn, throat infection, constipation, and insect bites.

You do not need to visit the doctor just yet! Be healthy after traveling with these 6 Home Remedies For Common Travel Sickness…

1. COLDS

If you travelled in country at wintertime and came back immediately to sunny Singapore then, you can really catch a cold. The main virus that causes cold is still unknown. This is why the body relies on its own defenses. However, you can effectively ease its symptoms with these remedies:

a. STAY HYDRATED

Drink plenty of water, juices, or warm lemon water with honey to help prevent dehydration and loosen up the congestion. Stay away from alcohol, coffee, or caffeinated sodas as they can worsen dehydration.

b. ADD MOIST IN THE AIR

Add moist in the air by purchasing an air humidifier that retails for as low as S$15.90. This helps loosen the congestion as well. But, remember to change its water daily and clean the machine according to the manufacturer’s manual. Stay away from steams as some can cause burns.

2. SUNBURN

If you overexposed your skin to the sun just to get the perfect holiday selfies then, you can end up with painful sunburn. Until it naturally goes diminishes on its own, ease the discomfort with these remedies:

a. MAGIC POTATO

An aged-old remedy for sunburn relies on the magic of potatoes. Get two washed potatoes, cut them into small chunks, and put them inside the blender or food processor. The potato must reach its liquid form before you can pat the burned areas with it. Then, wait until the potatoes dry up so you can take a cool shower.

b. APPLY COOL COMPRESS

You shall not apply ice a pack of it to the burnt area. Instead, soak a cloth into cool water and apply it to the burnt area for several minutes. Apply this multiple times to help relieve discomfort throughout the day. Strengthen the cool compress by adding soothing ingredients such as baking soda or oatmeal to the water.

3. INSECT BITES

Without consulting your doctor, most insect bites and stings heals naturally. Unless if you feel other symptoms such as fever then, it could be Dengue. Otherwise, relieve the itching, pain, and swelling with these remedies:

a. RUB TEA BAGS

Gently rub damp and cool tea bag over the bites. The natural tannins in the leaves will remove the excess fluid to decrease the swelling and pain felt.

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

b. APPLY LEMON JUICE

The natural antioxidants and alpha-hydroxy acids found in lemon juice are good for healing and cleansing the skin. Apply a few lemon juice particles over the mosquito bites with a cotton ball then, let it dry. Afterwards, you must rinse it well. You have to be careful when applying this remedy outside of your house because the oils in citrus fruits can make the skin more susceptible to sunburn.

Sources: 1, 2, 3, & 4

5 Ways to Make Money Like Singapore Billionaire Peter Lim

Peter Lim is one of Singapore’s best known billionaires. Besides owning the image of Cristiano Ronaldo, the man is famed for his candid sharing and no nonsense remarks. Here’s some of the things we can pick up from him, even if we’re not high flying stock traders:

1. It’s Easier to Build than to Trade

“It’s very difficult to make money from trading. People who get rich are those who buy a company, build it, run it. Most of the traders, they come, they make money, because they have this gambling instinct. They take the money and spend it. The minute they lose money, they got no money to pay up.”

For those of you into equities, it’s a sober comment on stock trading. Most people won’t get rich doing it. If you have significant capital, maybe it’s better to consider setting up a small side business first – even if you don’t succeed, you’ll at least have a better understanding of how they operate.

For those of you who aren’t into equities, take it as a personal finance lesson. If you want to have a consistent income stream, don’t count on things like the resale value of your flat, or your gold and watch collection. You’ll have a more reliable shot at wealth by building a small side-business (however many attempts it takes).

2. Always be Braced for Losses

When you are holding stocks, if it goes up, don’t be too happy; when it goes down, don’t be too sad. Otherwise, how? Your life will also be fluctuating and you’ll die of a heart attack.
If you really lose sleep over it, maybe the best way is to keep the money in the bank.

What would happen if you bought S$5,000 worth of shares today, and you find they’re worth S$3,000 tomorrow? Would you have the ability to simply move on and chase the next dollar?

If the answer is no, you haven’t got the right mindset to get rich through trading. It is important that you have the psychological resilience to accept losses and gains (which carry their own perils, like overconfidence). It will also impact your career and happiness, if you feel a need to track your stock prices every 30 minutes.

If you don’t have the required sense of calm, then don’t get involved. Get a financial advisor to handle your investments, or keep it in your CPF (you’ll get better returns than from the bank).

3. Think Long Term When Investing

You have to invest with a longer-term mindset. You buy a good stock, leave it there for 10 years. Come 10 years, this dollar can be many, many multiples. I think the trick is really to think long-term. You may not have a lot of money, but you have a lot of time. The minimum length of my investments are five to six years, if not 10 to 12 years.

This is somewhat related to point 1. If you’re eager to trade and go for short term profits, you might get rich – but you’re making it much harder to do so. Remember, every trade requires two correct decisions: when to buy, and when to sell. Even if you get one right, you are likely to get the other one wrong.

For those of you who aren’t investing, this should be a call for you to start. Even a small amount of money, invested over 10 or 15 years in a reliable asset, can amount to significant sums.
If you invest just S$200 a month, at a return of 5% (achievable with most index funds and insurance policies), you would have over S$59,000 at the end of 15 years.

4. Don’t Just Work, Pay Attention to How Your Company is Run

Mr. Lim didn’t actually get a huge head start. Some of his early jobs were waiter, cook, and taxi driver. It was only much later that he became a stockbroker. During his rise, Mr. Lim learned a lot from the fast food chain Red Rooster, where he worked as a cook. Systems, management processes, logistics, accounting, etc. are all instrumental if you want to understand how well a business runs, and will come in useful when you want to invest or run your own.

So rather than just doing your job, poke your nose around. Find out how your company’s business model works, where it fails and succeeds, and which are the skills critical to its running.

5. It’s About Making a Good Deal, not a Good Sale

You make money when you buy, NOT when you sell.

Value investors already know this, but it’s worth a reminder. Rather than buy something and hope it grows in value, buy it cheaper and wait for it to return to its usual price. We especially love this one, because it’s so applicable in personal finance – taking the time to look for a better deal is the surest way to “make” money. Whether you’re buying a second hand car, or buying a melon at the supermarket.

One way to save money is to pay with a cashback credit card, which gives you a small discount on your purchases when you meet a minimum purchase amount. As long as your bill is paid in full each month, you always avoid paying full price. SingSaver.com.sg has a list of good cashback cards to get you started.

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

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