MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Practice One Virtue That Can Definitely Increase Your Savings

As the Japanese Proverb once scribed: “Money grows on the tree of patience.”

Yes! One virtue, practiced religiously, that can definitely increase your savings and even increase the odds of success is none other than: Patience. Why is that so?

1. PATIENCE BOOSTS YOUR DISCIPLINE

Applying patience to overcome instant gratification is important in financial success. If you are an impulsive over-spender, establish a waiting day rule of at least 30 days on any purchases. The new items you have been eyeing on will go on the waiting list. This will not only help you to develop patience but also to help you filter out which ones you need and which ones you don’t.

2. PATIENCE HELPS YOU RESIST THE TEMPTATION

If the temptation of spending is overwhelming, try discussing financial matters to your bank. You may ask them to make automated payments or to put restrictions into your savings account and credit card. Once the convenience of spending is out of sight, it will be out of mind.

3. PATIENCE ALLOWS YOU TO LOOK FOR OTHER OPTIONS

Sadly, in a world that hates delayed gratification, impatience costs people cold hard cash. If you are willing to wait instead of purchasing immediately, you are able to compare prices within other shops and to find cheaper options while you are it. Patience gives you the opportunity to wait for the greatest sales, huge markdowns, and bargain deals that will help you save a lot!

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

4. PATIENCE ALLOWS YOUR MONEY TO GROW

The longer you keep your money, the more you will make of it. Elevation in your wealth each year is possible because of compounding. Compounding is the addition of interest to the principal of a deposit. Read more about the compounding power, here.

5. PATIENCE SHARPENS YOUR CONSCIOUS SPENDING

Patience sharpens and shapes your conscious spending by letting you realize the worth of each item. Ask yourself in the present time: “At my age, what matters to me the most?“

If you are willing to wait for a purchase then, you consider that item as important. And if it is that important…surely…it is worth the wait.

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

Sources: 1 & 2

3 Quick, Easy, And Affordable Meal Ideas Under S$20

Assuming the basic ingredients including salt, pepper, sugar, garlic, onions, and eggs are available at your home, here are the affordable meal ideals you can simply and swiftly prepare for the whole family:

1. CRISPY ROMAINE SALAD

Increase the vitamins absorbed by your body through this low-calorie dish that takes only 15 minutes to prepare.

INGREDIENTS (SERVING 4 PAX)

1 large Romaine lettuce (S$3.50 per 300g at Quan Fa Organic Farm)

2 medium carrots (S$0.80 per 500g at FairPrice)

0.30 cup of mayonnaise (S$2.65 at FairPrice)

2 tablespoons of red wine vinegar (S$6.50 at Delicia)

1 small clove of garlic

1/4 teaspoon salt

1/4 teaspoon coarsely ground black pepper

1 cucumber (S$0.65 per pack at FairPrice)

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

DIRECTIONS

Cut the unpeeled cucumber vertically in half then, cut it horizontally into thin “half-moon shapes”. Then, coarsely chop the Romaine lettuce. Get a huge serving bowl and place your cut cucumber and lettuce there. Afterwards, peel the carrots directly into the serving bowl.

On a separate small bowl, mix the mayonnaise, red wine vinegar, garlic, salt, and pepper well. Then, add this sauce mix to the serving bowl.

2. VELVET SCRAMBLED EGGS WITH HERBS

Give your good ol’ scrambled eggs a twist by adding fresh herbs. This recipe takes a total of 20 minutes to prepare.

INGREDIENTS (SERVING 4 PAX)

9 eggs

1/4 cup of milk (as low as S$2.40 at FairPrice)

1/4 cup of butter (S$3 per 250g at FairPrice)

1 tablespoon minced oregano (S$4.35 per 15g Mccormick Whole Mexican Oregano at FairPrice)

1 tablespoon minced thyme (as low as S$4 at FairPrice)

2 tablespoons of Parmesan cheese (S$5.55 per 125g Kraft Grated Parmesan Cheese at FairPrice)

Chives (follow self-preference)

Salt and pepper (to taste)

DIRECTIONS

Whisk the eggs and milk in a medium bowl for about 1 minute. Melt the butter over medium to low heat in a large sauté pan (preferably non-stick). Then, pour the mix of eggs into the pan and gently stir it with a wooden spoon or rubber spatula. Cook it over low heat.

When the eggs finally lose the “raw look”, put the thyme, oregano, chives, Parmesan cheese, salt, and pepper in the pan and stir these ingredients to distribute. Immediately pour an additional 2 teaspoons of milk to the eggs once it is very creamy and moist. Finally, remove the egg from the heat.

3. CONFETTI RICE PILAF

This is a colorful compliment to any of your chicken dishes. It takes about 30 minutes to prepare.

INGREDIENTS (SERVING 4 PAX)

1 small onion

1 carrot

1 celery stalk (S$1.60 per pack at FairPrice)

1 tablespoon of butter

1 clove of garlic

1 cup of white rice (as low as S$4.95 at FairPrice)

1 chicken broth (S$1.75 per 60g of Knorr Chicken Cubes at FairPrice)

0.25 cup of water

0.25 cup of Parsley leaves (S$3.85 per 7g of Mccormick Parsley Flakes at FairPrice)

1/4 teaspoon salt

1/4 teaspoon coarsely ground black pepper

DIRECTIONS

In a saucepan, heat the butter on medium heat. Add the onion, carrot, garlic, celery, salt, and pepper. Cook and stir all this for 6 to 8 minutes until the vegetables are tender. Add the white rice to the pan then store for 1 minute. Then, put the chicken broth and water into the pan while boiling it on high.

Reduce the heat to low then cover and simmer for 16-18 minutes until all the liquid is absorbed and the white rice is tender. Afterwards, you must turn off the heart but keep it covered for 5 minutes. Fluff the rice with the fork and stir the parsley.

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

Isn’t it incredible that you can make yummy dishes of four servings under S$20? Try it now and enjoy! 🙂

Sources: 1,2, & 3

Aside From Warren Buffett, Here Are 4 Broadly Successful Investors You Need To Know

When you think of “successful investors”, one name comes to mind of most and that is Warren Buffett. With his amazing record, who would not be impressed? But, as time passes there are a few names that stand out in the shadows. Here are four of them:

1. HOWARD MARKS

Number 318 in the Forbes’ 2015 list of United States billionaire, Howard Marks has an estimated net worth of US$2 billion (or S$2.8 billion). Majority of his wealth came from the “Oaktree Capital Management” which he founded. Oaktree Capital Management, an investment firm trading in New York Stock Exchange, focuses on private equity, distressed debt, and high-yield bonds. Furthermore, his book entitled: “The Most Important Thing: Uncommon Sense for the Thoughtful Investor”, was praised by no other than Warren Buffett.

2. WILL DANOFF

Majority of investors have heard of the Fidelity Investments. Fidelity Investments is the family company managed by Edward Johnson III and his daughter. Without him, the world may not have the discount brokerage market that it has today. As Fidelity Investments became one of the biggest discount brokerage firms, they launched Fidelity Contrafund in 1990. Fidelity Contrafund is so huge that US$1 of every US$8 invested in Fidelity’s stock funds goes there.

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

And, the single manager behind Contrafund is Will Danoff. Under his reign, the Contrafund achieved an average annual return of 12.50% despite all odds in its lifetime. Dannoff is truly a very impressive investor.

3. SULEIMAN KERIMOV

From someone who made US$250 (S$355) a month to a multi billionaire, that is the inspirational financial story of Suleiman Kerimov. He started to work as an accountant for an electrical plant. To illustrate his previous uncomfortable situation, he and his wife used to live in the workers’ hostel attached to the plant. He made a transition into banking and found his initial investment grow rapidly. With this, he added even more investments. And, the rest was history.

4. JOE ROSENFIELD

An investor whose returns were better than Warrant Buffet’s deserve a spot on the list. And that is no other than Warren Buffett’s friend named Joe Rosenfield. If you are a fan of the Silicon Valley, he is also a good friend of Robert Noyce. Joe Rosenfield is an American businessman who is best known for transforming his US$11 billion (S$15.64 billion) into US$1 billion (S$1.42 billion) for the endowment fund of Grinnell College.

He has an undeniable talent for determining top investment opportunities such as the Sequoia Fund back in 1977. But, his heart still resides in Grinnell College wherein he created a Rosenfield Scholarship that helped students pay for their Grinnell education. Now, that is a great way to give back!

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

Sources: 1 & 2

Household Items You Should Not Be Spending Too Much On

Whether you are living alone or you have kids, it can be difficult to manage your finances regardless of how much you make. One of the best ways to improve your situation is to trim your daily costs. Figure out what exactly you are paying for by knowing which things you are spending too much on.

Reduce your household items spending by following these tips:

1. PAPER TOWELS

Instead of buying paper towels constantly as they ran out, purchase Scotch-Brite’s sponge clothes for S$3.50 at Fairprice. This is an amazing product that wipes as a paper towel or a cloth but absorbs like a sponge. All you have to do is to cut one piece in two to make the most of your dollar. Since you can reuse it, this will last you for a month or so. Not only did you help clean your kitchen but you also help save Mother Nature.

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

2. COFFEE FILTERS

A pack of disposable coffee filters can cost you as low as S$2, which you have to restock depending on your needs. Thankfully, they have invented the reusable coffee filters. You can purchase in Qoo10 for as low as S$8.90 – S$11. It can save you so much in the long run!

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

3. COOKING AND BAKING MOLDS

No need to buy perfectly shaped molds for your cookie dough, meatballs, or patties. Use well-cleaned Styrofoam egg cartons instead. Place the ingredients inside to help you freeze each individual portion. Also, you can use this cartoon for potting a small seedling for your garden or for arranging your golf and table tennis balls.

4. COMMERCIAL CLEANERS

You can save more by making your own yet effective counter and shower cleaner mix. For the kitchen counter cleaner, all you have to do is mix water with 5% of vinegar.

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

For the shower cleaner, simply mix three parts water to one-part vinegar in a spray bottle. Add a few drops of essential oil for an enticing scent. This is useful for the tub, shower door, and walls.

BONUS: WRAPPING PAPER

Use your old fabrics to make a reusable gift bag to substitute for a wrapping paper. Kids would throw the wrapping paper anyway! Just cut one rectangle off the fabric then one long one for the “ribbon”. Sew through the fabric seams. Get the full instructions, here.

Sources: 1 & 2

Awesome MUJI Hacks You Wouldn’t Want To Miss

For the past few decades, Japanese brands had been circulating the worldwide market. Valuing their historical significance, contemporary influence, and innovative style, Japan never seize to amaze its consumers. Myself included. Personally, there is one Japanese brand close to my heart and it is called MUJI.

MUJI’s products are not only simple but also efficient. Most of their products are practical such as the “CT LINEN POLY SOFT BOX OBLONG“, a foldable fabric storage box for only S$13.

Curated by Ryohin Keikaku Co., Ltd., MUJI upholds the philosophy of bringing quality products at lower prices. This is because of their intensive selection for raw materials. A testament of that are their stationery items including office supplies, packaging items, acrylic storage, desktop items, and handphone accessories with prices ranging from S$0.90-S$49.

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

Given that their prices are reasonable, you can still save further by using these tips:

1. SHOP ONLINE WITH CUPONATION

CupoNation has a huge database of the coupon codes and deals across Singapore. If you browsed through their coupon codes and discounted deals for MUJI this September 2015, you would see that you might avail the following offers in MUJI’s online store:

a. 10% on Women’s Linen products

b. 10% OFF + Free Delivery on Selected Travel Items

c. 10% OFF on Spring Accessories

d. 10% OFF on Kids Linen products

e. 10% OFF on Men’s Linen items

2. GO DIRECTLY TO THE SALE ITEMS PAGE

If you are shopping in a rush, you may skip CupoNation but go directly to the “SALE ITEMS” page. In this page, you would see that there are two types of special offers namely: sale items and limited offers. As the name suggests, limited offers are available for a shorter period of time compared to the sale items.

Let me be the good messenger as I tell you that the sale items boast in an array of clothing articles such as French Linen Boat Neck Dress for S$48.30 (U.P. S$69) and Linen Cropped Easypants for S$34.30 (U.P. S$49.00). While, the limited offers include the Gel Ink Pens for S$1.44 (U.P. S$1.60) and the Ochiwata Duster Set for S$7.47 (U.P. S$8.30).

3. SPEND AN AFFORDABLE AMOUNT ON UNIQUE, QUIRKY, AND COOL ITEMS

Feeling adventurous does not have to be expensive! You can save money on unique, quirky, and cool authentic Japanese items by shopping at MUJI. For instance, you may try their selection of special and tasty snacks and desserts such as white chocolate strawberry, scallop rice kit, and pretzel mustard.

Also, dig into the cool and innovative items such as the “HANDY SHREDDER” which is a stand-alone portable shredder for your everyday use. It is available for S$11.

Image Credits: www.muji.com.sg

4. FOLLOW THE DEALS

It can be overwhelming when you go inside the store. So, come prepared by stalking them on social media. Get the inside scoop of their store activities, product launches, and latest deals by following facebook.com/muji.sg.

Currently, the revamped Paragon outlet include the first Café&Meal MUJI as well as the following in-store deals:

Image Credits: facebook.com/muji.sg

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