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Avoid Impulse Buys And Save More Money Shopping This GSS

We had all been victims of impulsive purchase/s. And, this Great Singapore Sale (GSS) period where most shops have over 70% off, your power to resist may be tested! The good news is that, you can strengthen your power by following this simple ways:

1. NOTE DOWN A LIST

The oldest trick in the bag can just be the one that saves you! Making a list of the necessary gifts you to buy along with the names of the people you are wishing to give it to can help you avoid the temptation of overwhelming discounts. If you want, you can also dictate a budget per person (e.g., S$10 for a co-worker). No matter what, stick to this list.

2. SCORE GOOD DEALS BY SHOPPING ONLINE

To prevent the enticing visual stimulations, you can skip the malls all together and just shop online. By shopping online, you can not only compare price but also avoid the long queue. Who likes squeezing their way to the crowds anyway?

To get you started with your GSS shopping, here are the premier Singapore online shops you can browse: Lazada, Qoo10, and Zalora. Use coupon codes if applicable.

3. DO YOUR RESEARCH

As the glistening crimson sign of “GSS SALE” is parading across the country, it is good to do your research first before heading to the malls. This research requires you to browse the promotions of various shops and malls before you leave the house.

To get a comprehensive list of what is on sale, you may check out the Great Singapore Sale website at Greatsingaporesale.com.sg or browse the array of deals at Moneydigest.sg/category/deals.

4. PAY CASH

Having to pay with the money you already have is a wise decision that is accepted by most. Unless your credit card is rewarding you extra for shopping this GSS, you must shy away from it. A wallet full of your intended spending will force you to stay within the budget and prevent unnecessary buys.

5. BE HONEST WITH YOURSELF

Before buying anything, ask yourself several questions to help you evaluate if an item is worthy or not. Ask question such as: “Does the item simplify my life?” , “Am I going to feel better months after I buy this?”, or “Do I really need this?”. Be honest as honest with yourself as possible.

6. KNOW YOUR TRIGGERS

You must understand what brings about or triggers your impulse purchases. For instance, if your trigger is fragrant scents scattered in the malls then, shop online instead.

Image Credits: Giuseppe Milo via Flickr

Also, it takes no Jedi mind trick to tell that shopping on an empty stomach will make you tempted for more snacks. So, be sure to shop on a satiated state during the Great Singapore Sale! 🙂

Be Financially Smart With These Incredibly Free And Useful Websites

Educating yourself on your finances is just a keystroke away with these incredibly Free and Useful Websites…

1. SPENDING WISELY

Spend wisely by budgeting your money and saving more through the awesome money management website called Mint.com. Mint.com, accompanied its free mobile Apps, allows its users to track their spending, develop a monthly budget, receive bill reminders, and take control of their financial life. What’s more? It sends online alerts if you had gone over your budget.

2. MAKING MONEY

Whether you have a special knack in writing, engineering, administrative work, advertising, legal work, marketing, illustrating, and web design…there are secure websites that provide opportunities for online freelance work.

Searching through various freelance websites, the two most globally popular are Fiverr and Upwork. Fiverr.com enables its users to earn money through Paypal payment services. However, the company keeps a small portion of your earnings before handing it out to you.

On the other hand, a similar platform called Upwork.com (previously called Odesk.com), captures the work-in-progress and snapshots your screen. Payment is painless because Credit Cards, PayPal accounts, and Bank Accounts are accepted.

Image Credits: SEOPlanter via Flickr

3. USING FINANCIAL PLANNING TOOLS

Financial planning is an active choice to take charge of your finances and to ensure your financial well-being is in top shape. Among others, Bankrate.com and CCS.org.sg are two websites you can use to support your financial plans.

Bankrate.com aids with the consumer’s debts, loans, and taxes. It was crafted in 1976 for a print publisher in a banking industry. These long years of experience had them frequently referenced on major news outlets such as CNN, ABC News, and FOX Business News. As Bankrate.com allows publishing of personal financial stories, you can make more informed monetary decisions.

And, if you are looking for an in-depth plan to repay your debts, you can avail the resources and services of Credit Counselling Singapore at CCS.org.sg. Credit Counselling Singapore is a non-government and charity organization driven to help people to overcome their debt dilemma. Unlike some debt advisors, they are not driven by profit.

4. BOOSTING FINANCIAL LITERACY

Increase your financial literacy by regularly browsing through Money Digest‘s totally free and user-friendly website. As you may know, MoneyDigest.sg is dedicated daily news, tips, and guides relating to money and financial issues. But, beyond that, it focuses on the localized view so as to support the financial literacy of any individual living in sunny Singapore.

Image Credits: facebook.com/MoneyDigest

Hey Globetrotter! How Much Is Your Money Worth Around The World?

Has your strong desire to travel been itching you these past several weeks? Is your schedule free enough for you to travel at least 3 days away? If all your answers point to “YES” then, it is time to give in to your wanderlust!

As you let your heart decide which country you shall go next, it is paramount to understand the value of your money and the cost of living dynamics. These said information would help you build the travel fund that is suited best for your trip. Furthermore, you can carry a little more pocket cash in case an emergency rises.

Looking into the globe through a microscope, a few of the countries you may visit are Australia (Continent: Australia), Italy (Europe), China (Asia), South Africa (Africa), Canada (North America), and Peru (South America). Hooked to the globetrotter idea already?

Then, browse through the things that you can buy with S$2.50, S$52.50, and S$1,500…

S$2.50

In Australia, or Commonwealth of Australia, you can buy 1 liter of milk for S$1.53 or a 1.5-liter of water for S$2.48.

Are you a salad enthusiast? Try the lettuce (1 head) from Italy for S$1.35. The 1.5-liter of water there costs S$0.76 only!

If you love imported beer, get a 0.33 liter bottle for S$1.59 in China. Otherwise, conquer your thirst with the very affordable S$0.65 1.5 liter of water.

Image Credits: takuki via Flickr

In South Africa, you can purchase 500 grams of white bread loaf for S$1.31. And, their 1.5-liter of water retails for S$1.47.

Going up to Canada, you may purchase a kilo of tomato for S$1.90 that is otherwise S$2.66 in Singapore. The 1.5-liter of water? It costs about S$2.43.

Lastly, Peru offers friendly priced domestic beers (0.5 liter bottle) for S$1.84 while their 1.5-liter of water is priced at S$1.16.

S$52.50

You can ride a cab (normal tariff) with an hour of waiting for S$51.31 in Brisbane, Australia.

And, if you are a sucker for cheese, get 2 kilos for S$46.14 in Milan, Italy.

There is nothing but pure regard for your money at Zhuhai, China where a three-course meal at a restaurant can cost about S$43.38 for 4 people!

However, in Johannesburg, South Africa it is a tad pricier as the three-course meal at a restaurant can cost about S$48.74 for 2 people.

In Cold Lake, Canada, chain store (e.g., Zara) dresses are priced cheaper at S$43.78 whereas it retails for S$63.60 in Singapore. That is saving you S$19.82!

In the capital of Peru called Lima, you can enjoy 3 hours of playing tennis on a weekend (S$35.94) plus catching a flick on its international release (2 seats for S$15.76). Talk about an ideal date!

S$1,500

With this larger amount, you can rent an apartment for a month (inclusive of Internet services) at all these countries discussed. For instance, in Australia, you can rent a 1-bedroom apartment on the outskirts for S$1,187.62.

While in the world’s eight largest economy, an Italian 1 bedroom apartment outside the city costs S$1,034.54.

Image Credits: Julia via Flickr

For an incredibly cheaper price, visit China where you can rent a 3-bedroom apartment at the city for S$1,030.15.

Or go to South Africa where a 3-bedroom apartment at the city is about S$1,409.27.

And, if you have a month long business trip in Canada, consider renting the 1 bedroom apartment in the city for S$1,340.63.

Finally, Peru’s 3-bedroom apartment at the city will cost you approximately S$1,107.23.

Image Credits: blog.absolutvision.com

Oh! By the way…all these data were collected from Numbeo. It is a website that stores the world’s largest database of user contributed information about global living conditions. It has been mentioned in internationally renowned newspapers and magazines such as BBC, Forbes, The Economist, and New York Times among others. See for yourself! 🙂

Is Property A Viable Investment Tool?

A place where you can securely reside with your loving family – that is what you call a home.

Since land is scarce in Singapore, properties had always been a go-to investment tool for many. The majority of these investors have strategies limited to purchasing, reselling, and renting flats or condominiums. But, in order for higher returns to generate, one must consider investing to a range of other properties such as using the Real Estate Investment Trust (REIT).

And for a beginner with merely S$10,000 on hand, is property a viable and smart investment tool?

PROS

1. GETTING MORE LEVERAGE

With the banks help, you can have the ability to leverage your capital, make a down payment, and increase your overall return. Simply, more leverage enables you to pay less money upfront (e.g., 30% down payment and 70% from the bank) while making more money in the process.

2. CAN BE A SHIELD AGAINST INFLATION

Inflation occurs when there is a spike in prices and fall in the purchasing value of the dollar. As the miscellaneous for the property increases, the rent, and its value also increases. This is why property investing can be a good shield against inflation.

Image Credits: .Martin. via Flickr

CONS

1. CAN BE TIME CONSUMING

Finding a property in a decent location, building a good relationship with the tenants, and maintaining the condition of the property can be time consuming. Time that may not be in the good side of most.

2. THE RISKS ARE HIGH

A two-bedroom HDB flat can cost about S$250,000. That is a huge sum of money you may be willing to risk if you are serious in property investing. The risks only increase when the investor does not understand how the property market works or when and where to invest. Hurrying up without analyzing the situation thoroughly can only bring about more damage (e.g., bankruptcy) than good.

ULTIMATELY

You can lower the risk of property investing by diligently researching and analyzing reports, tests, and the current situation. Furthermore, investing in below market value properties backed up with insurance can help manage the risk. You would not know all these things unless you are well informed!

A buyer with an in-depth financial knowledge is important to the success of a property investment. So, if you lack sufficient knowledge, seek advice from a financial consultant or other professional advisers. And, when you find the “right property”, ensure that you keep your expectations realistic and keep your finances in tact.

Sources: 1, 2, & 3

Image Credits: Mark Moz via Flickr

DISCLAIMER: THIS ARTICLE DOES NOT FORM PART OF ANY OFFER OR RECOMMENDATION, OR HAVE ANY REGARD TO THE INVESTMENT OBJECTIVES, FINANCIAL SITUATION, OR NEEDS OF ANY SPECIFIC PERSON. BEFORE COMMITTING TO AN INVESTMENT, PLEASE SEEK ADVICE FROM A FINANCIAL CONSULTANT OR OTHER PROFESSIONAL ADVISER.

6 Highest Paying Jobs In The Field Of Technology (IT)

With the increasing global concern for cyber security across companies, there has been an ongoing demand for Information Technology (IT) Professionals. In fact, recent study showed that the five highest income-earning sectors in Singapore include Information Technology alongside Banking and Finance, Petrochemicals, Pharmaceuticals, and Semiconductors.

Salary.sg, a website dedicated to relay information on career and jobs, used the Ministry of Manpower wage date and excluded the bonuses and profit-sharing to generate the monthly gross wages of over a hundred jobs in Singapore. Looking at the IT sector through a microscope, here are the 6 Highest Paying Tech Jobs In Singapore based on the 2014 data by Salary.sg:

6. NETWORK AND SYSTEMS ENGINEER

Network and Systems Engineers can earn about S$4,000-7,000 a month.

They are tasked to oversee functionality, security, and design of the computer systems. To keep the internal and external company databases running smooth, they are responsible to look to how information is shared both internally an externally.

5. APPLICATION DEVELOPMENT CONSULTANT

Application Development Consultants can make about S$5,000-7,000 a month.

They are tasked to consult with the program managers, senior consultants, and clients to understand information requirements, operational procedures, and transaction processing. Basically, they are responsible for designing fresh software applications from the concept to completion.

4. INFORMATION TECHNOLOGY TESTING IT

Testers can earn about S$6,360 a month.

IT Testers are tasked to check for system bugs or other concerns in the new software to ensure that the company standards are maintained or that the product integrity is preserved. They examine a program by going through its typical uses and noting down the observable problems.

Image Credits: Bob Mical via Flickr

3. INFORMATION TECHNOLOGY SECURITY SPECIALIST

IT Security Specialist can make about S$6,385 a month.

IT Security Specialists are tasked to analyze the security breaches that have or may occur. Then, they must repair and strengthen the system against these breaches. Simply put, their work focuses on the risks to the security of valued company information or data.

2. INFORMATION TECHNOLOGY PROJECT MANAGER

IT Project Manager can have a paycheck of about S$8,320 per month.

A bachelor’s degree and significant years of experience is usually required for this position. IT Project Managers are tasked to manage and coordinate with the staff to oversee various computer-related assignments for the company.

1. CHIEF TECHNOLOGY OFFICER

Chief Technology Officer (CTO) can earn about S$10,648 per month, on average.

CTOs are tasked to play an important role in setting the company’s direction, development, and future growth by supporting all information and technology-related operations. With your growing years of experience and educational background in tech, you too, can be the CTO.

Image Credits: Chad Kainz via Flickr

Sources: 1, 2, 3, & 4

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