MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Marriage With Credit: ‘Till Debt Do We Part?

Whether you like it or not, along with your marital vows comes the union of your finances. Your partner’s financial habits can either boost or ruin your financial future especially if he or she has a pile of debt. One’s credit history can affect several facets of your life such as loan eligibility, loan rates, and job applications. This is why it is important to openly discuss about your credit history and to plan your future finances together.

Here are some steps you may take…

1. HAVE A TRANSPARENT DISCUSSION

To prevent unforeseen monetary issues, understand each other’s view by explicitly discussing your differences on financial issues. For example, if your partner is a saver then, he or she may view money as an important currency that shall not be wasted.

Then, for honesty’s sake, show a copy of each other’s credit report. Know what your debt and income are actually worth so that you can realistically plan on how to pay for the remaining debt. Your partner’s lack of credit history will reflect on your credit score if you combine accounts.

2. PRACTICE THE ART OF MINDFULNESS

Gone are the days when Mindfulness is practiced solely for meditation. You heard that right! Actively paying attention to the present situation can affect your finances. As you are aware of what is happening in the present, you can make better decisions about money no matter how important it is. For instance, you will keep your credit score healthy because you are aware of the billing schedules. Also, having a present mind will allow you to be vigilant in checking whether the statement breakdown (e.g., phone bill’s data usage) is accurate.

3. LIMIT THE USE OF CREDIT CARD/S

It takes no genius to conclude that overusing your credit card will jumpstart your credit. So, if you cannot say farewell to the plastic card, you might as well limit your usage. As much as possible, keep your usage to a minimum, 25% below your credit limit is a good start. Then, pay off the balance monthly. Examine your progress together as you end the month.

Image Credits: Gareth Williams via Flickr with Creative Commons License

May these simple steps pave way for a happy and credit-free marriage! 🙂

Sources: 1 & 2

Bargain Hunting: Singapore’s Greatest Shopping Events

If you want to avoid shopping crowds and busy stores, why not shop online? You can easily experience hassle-free shopping and still get the best discounts, if you know when and where to shop. If you don’t want to miss out on the biggest discounts of the year, make sure you keep yourself updated with the most popular shopping events in Singapore.

The Great Singapore Sale (GSS)

Dates: 29 May – 26 July

There’s no better time to be a bit more carefree with money than during the Great Singapore Sale (GSS). Acclaimed Singapore’s biggest sale of the year, GSS is one of the top shopping holidays for both retailers and customers. Singapore Retailers Association (SRA), official organiser of the event, teamed up with MasterCard to provide Singaporeans with amazing opportunities to save money during the festival – shoppers are invited to use dedicated coupon codes and discounts on flights, hotel accommodation, fashion, electronics and various online services. The festival is full of attractive events, including Singapore Restaurant Month, International Jewellery Expo or Food Festival. What’s most important though, promotions live up to customer’s expectations – you can get even 70% off on a wide range of products. In addition, customers who participate in the event can enter daily giveaways and stand a chance to win daily prizes (detailed information can be found on the event’s official website).

The Great Online Shopping Festival (GOSF)

Dates: 02 – 04 February

Created by Google, The Great Online Shopping Festival came to Singapore right after its commercial success in India. The idea behind the event was to convince online retailers and shopping platforms to release great discounts in order to push their sales. Google partners with big ecommerce sites and shopping websites who will provide a special promotional offer for these two days only – coupon codes, gifts with purchases, free shipping, extra off sales, competitions and much more. GOSF is also supported by DBS and SingPost who joined the organiser to facilitate the participation in the event. In result, shoppers are spoilt with a massive number of promotion codes applicable via website or mobile devices and are offered a huge range of discounted services and products that are equally satisfactory. The shopping festival lasts only two days but it’s filled with opportunities to save money and win prizes on a daily basis. Shoppers must act quickly not to miss out.

Black Friday & Cyber Monday

Dates: 27 – 30 November

Those two major shopping events and the busiest shopping days of the year originated in the USA and quickly gained great international popularity. Black Friday and its online counterpart Cyber Monday provide retailers with an opportunity to increase sales before Christmas and customers with a chance to save money and do some early shopping on a budget. Even though Singaporeans invented their own version of Cyber Monday – GOSF – these shopping events are still celebrated by a number of local online retailers. Cross-border shoppers should stay tuned and keep their eyes wide opened, especially if they plan to seek bargains from outside of Singapore. Plenty of online retailers release free worldwide delivery codes so that international consumers can also benefit and make some savings during sales period.

Participate in the Singapore’s online shopping craze from the comfort of your home and spoil yourself, as these events will bring you the best that online shopping has to offer.

The impatient bargain hunters can visit Picodi.sg and browse a wide range of online coupons to Singapore’s online stores. The website updates its listing of coupons on a daily basis, so grab a deal and start shopping!

Save On Transport With The Off-Peak Monthly Travel Pass

Are you one of those people who are always on the go on weekends and public holidays? While on weekdays, you typically travel before 6:30am and after 7:30pm? Then, the new Off-Peak Monthly Travel Pass is the perfect public transport card for you!

The Off-Peak Monthly Travel Pass (OMTP) was implemented by the government to help reduce the citizens’ monthly transport expenditures. What is heavily attractive with the OTMP is that it offers UNLIMITED travel by bus and trains during weekday’s off-peak timings. And, the best part is you will have unlimited travels all-day long during weekends and public holidays.

The price for the OMTP is as follows:

S$80/month for Adults

S$40/month for Senior Citizens and Persons with Disabilities (PWD)

(Image: Ministry of Transport)

Aside from the prices, you must be aware that in order to buy your very own OMTP, you must first have or apply for an Adult Monthly Travel Card, a Senior Citizens Concession Card, or a PWD Concession Card.

Moving on to the exciting part, the weekday timings of the OMTP are before 6:30 am, between 9:00 am to 5:00pm, and after 7:30 pm. Surely, it is best suited for certain lifestyles such as people who work in hospitals or schools. Putting that into perspective, say Jane is a nurse and works an afternoon shift followed by a morning shift. Her afternoon shift will end at 9pm. So, she would travel after 9pm. Then, she must travel before 6:30 the next day as her morning shift starts at 7 am. This schedule definitely fits the weekday off-peak time scheme.

Image Credits: Walt Stoneburner via Flickr with Creative Commons License

To illustrate the savings, let us take teacher Josh as an example. Josh needs to travel before 6:30 am as the school starts on 7:20 am. If he lives in Toa Payoh and the school is at Clementi, his daily bus fare would cost about S$3.06-4.26 depending on which buses he takes. That is equivalent to S$67.32-93.72 a month, only during the weekdays! He will surely save a lot more with the OMTP scheme as it covers unlimited travel by buses and trains all day on the weekends and public holidays.

The savings of an individual depends on how far he or she commutes and on whether the OMTP fits his or her daily schedule. So, if you are eager to get your own OMTP…hold your horses! The pre-purchase at any TransitLink Ticket Office, MRT Stations, and Ticketing Machines starts on June 28 but it is available for use from July 5.

Image Credits: Screen-grabbed from www.youtube.com/user/LTAsingapore

Sources: 1 & 2

Cheap Ways To Boost Your Creativity Now

You do not have to be as smart as Einstein or as rich as Gates to think creatively. With these few tricks up your sleeve, you can show your own creative side in no time:

1. READ A BOOK OR TWO

If you are fishing in an unfamiliar territory, it is advisable to educate yourself. Do this by reading a book or two about creativity or creative thinking. Try Austin Kleon’s modern take on creativity. With his visually pleasing illustrations and simple vocabulary, you will surely understand what he wants to convey in his books entitled “STEAL LIKE AN ARTIST: 10 THINGS NOBODY TOLD YOU ABOUT BEING CREATIVE” and “SHOW YOUR WORK!: 10 THINGS NOBODY TOLD YOU ABOUT GETTING DISCOVERED”. Both books are available at Popular Bookstore for as low as S$20.87.

2. HAVE YOUR OWN CREATIVE SPACE

Assign a place where you can freely create. This does not have to be a fancy space. A tiny corner with art materials, CDs, or a laptop will do. It is important that you decorate this space yourself.

Image Credits: Karen Cox via Flickr with Creative Commons License

3. PAINT THE ROOM BLUE OR GREEN

Color Psychology dictates that colors can help enhance our cognitive tasks such as concentrating and creative thinking. So, paint your room with the colors of our home planet – blue and green!

Blue has physically and mentally calming effects that will help you open your thoughts. On the other hand, green signifies growth and harmony. Putting these colors together shall stimulate your creativity even more.

4. ENVISION THE PROBLEM DIFFERENTLY

In the “Candle Problem” presented by psychologist Karl Duncker, participants were given a candle, a box of thumbtacks, and a book of matches. They were asked to affix a lit candle to the wall without having a single drop of wax on the table below. There are a couple of possible solutions yet, only one will work (know the solution, here).

To arrive at the answer, you must envision the problem differently. Do not limit the function of these said objects too. Relax and examine the problem in varied ways before you begin working.

5. EXERCISE

Previous literature has shown that exercise increases creative thinking due to its ability to pump up the heart and put people in a positive mood. So, when you are having a writer’s block, try to run a few blocks, it may help you have a long-awaited “Eureka!” moment. Jog outdoors, it’s free anyway.

6. ACTIVATE YOUR SENSES

Last but not the least is to activate your senses. You can explore the local libraries, museums, gardens, and zoos. Tickets to these places range from S$0-32. But, that is a small price to pay to enrich your imagination.

Now, if you are still looking for a no-cost way to activate your senses, you can listen to Mozart. According to a book entitled: “The Mozart Effect,” listening to classical music specifically by Wolfgang Amadeus Mozart can increase concentration, creativity, and other cognitive functions. His music repertoire is available for free on YouTube.

Sources: 1 & 2

Save Money On Clothing Alterations By Mastering These Simple Stitches

Tailoring or sewing services in Singapore can range from S$5-40 depending on the type of clothing article. For instance, altering straight-cut jeans range from S$5-12 while altering of jackets can range from S$12-36. Some of the prices are too much if you asked me. You might as well buy a new one.

Aside from the costs, the standard waiting time for its collection can last from 1-14 days. And, if you do not have the time, you might as well buy a new one.

To avoid this dilemma, it is important to master some simple stitches that you can immediately use as the need rises. Do not fret if you have zero knowledge on sewing because mastering the basics can be done at home. All you have to do is to browse through the free tutorial videos available online. Here are the simple stitches you may start with:

1. RUNNING OR STRAIGHT STITCH

The easiest and the simplest of all the stitches in this list is the running stitch, otherwise known as the straight stitch. This stitch involves taking the needle repeatedly under then over. You shall see the thread forming a line throughout the fabric. This is useful for repairing torn out parts of the pockets or sleeves.

2. WHIPSTITCH

Let us “up the ante” a little bit with the diagonal techniques of whipstitch. A whipstitch is typically used to sew to separate pieces of material together. It is perfect for altering or repairing trousers, sleeves, and jackets because it leaves nearly invisible traces of thread. Follow this video to learn about the fascinating whipstitch:

3. SEW A BUTTON

A usual situation that needs immediate repair is clothing that lacks buttons. Learning how to sew a button is quick and uncomplicated. The first thing you must do is to choose a suitable button and a matching thread. You may check if the manufacturer has included an additional button. Then, be guided by this short video:

4. SEW A HEM

From your table cloth to your boxers and gowns, hems are found on most common articles of clothing and fabric. This is why it is important for you to be familiarizing on how to sew a hem in case yours gets loose or in case you want to make your own. You can either use a catch stitch (i.e., exposed) or a slip stitch (i.e., invisible) to sew a hem. Learn how to make these two stitches, here:

https://www.youtube.com/watch?v=tMqK-fNrCrM

Sources: 1 & 2

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