MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Wallet-Friendly Ways To Make Parenting Simple And Fun

One of the best parts of parenting is spending quality time with your children. Most of the time, creating fun memories are simple. However, there are days when it is far from easy.

This is why you must unlock the “inner child” within you by trying these inexpensive ideas:

1. BE A PART OF WHAT THEY LOVE TO DO

In the weekends, you just want to lay down and rest your body from all the week’s work. But, you also want to spend time with your beloved ones. Kill these two birds with one stone with the “Car Play Shirt”.

The Car Play Shirt allows you to relax and lay down while your kids are playing with the activity on your back. The interactive puzzle is drawn at the back of your shirt lets your boys imagine where they want their cool cars to go. You can either purchase them for S$32.17 or make your own by following this tutorial.

Image Credits: thebluebasket.blogspot.sg/2011/09/tutorial-car-shirt.html

2. TALK ABOUT THEIR FEELINGS

Children who do not express themselves genuinely can become people-pleasers with low self-esteem or unhappy adults who cannot reach their fullest potentials. This is why as parents, it is important to encourage the child to be more demonstrative.

Do so by making “Paper Plate Emotion Masks”. The goal of this artistic activity is to open up a conversation with your children to know more about them. With this, you can emphasize more on happy situations and decrease the sad situations.

Simply gather these materials: paper plates, popsicle sticks, markers, crayons, scissors, and tape. Then, let your child create a mask with basic emotions such as happy, sad, scared and angry. If you need more help, follow the instructions here.

Image Credits: thepinterestedparent.com/2013/11/teaching-toddlers-emotions

Note: This activity is great for toddlers and preschoolers.

3. FEED YOUR CHILD’S IMAGINATION

If you want a few minutes to an hour to yourself to do some work at home, you can try indulging your child with arts and crafts. Aside from keeping him or her occupied, art therapy is especially beneficial for children since they are naturally more imaginative and creative. Furthermore, it enhances the child’s problem solving and cognitive (brain) skills.

Inspired by various craft from the Internet, a blogger that goes by the name of “A Little Learning For Two” came up with the “Sticky Window Art”. This easy craft lets your child illustrate endless images with colorful sticks drawn on the “sticky paper” that is plastered in the window. You would need these four items: scissors, clear contact paper, tape, and colored matchsticks/popsicle sticks. After which, follow the tutorial here.

Image Credits: alittlelearningfortwo.blogspot.sg/2010/11/sticky-window-art.html

Much to the blogger’s surprise, her daughter played this activity for almost an hour without losing interest!

Note: A roll of clear contact paper can be found at your nearest stationery shop such as Popular Bookstore.

Sources: 1, 2, & 3

3 Life Events Where Time Management Is Financially Crucial

Your heart is pounding as excitement and uncertainty clouds your mind. You are about to make a life altering decision. Pause for a moment. Before you do anything else, consider its financial outcomes.

Whether you are rendering your resignation or planning your engagement proposal, all these huge decisions can make or break your wealth. This is why it is important to have a substantial amount of time to analyze every factor including time itself.

To do this, you must master the art of time management. Time management refers to the way you organize and sort out how long you spend on specific tasks. After all, we are equally given the same 24 hours. Let us make the most of it!

For instance, here are some life events where time management is financially crucial…

1. GETTING MARRIED

Save lots of money by scheduling your big day during off-peak months. Generally, getting married in “off-peak” months such as November, March, and April can be less expensive than marrying in “peak” months such as December and February. However, you must always be cautious of the venue’s weather and conditions.

During off-peak months where the demand for weddings are lesser, couples get to negotiate for better prices. Tying the knot in these months means taking full advantage of the discounted prices on reception venues, catering, and photography. If you want to save even more, know the right time when the hotels and resorts are off-season and stay away from the weekends.

2. RENDERING YOUR RESIGNATION

Remaining in a horrible job or company for too long can be harmful not only to your career but also to your health. If you have tried your best to turn things around and have not seen any changes, perhaps it may be time to walk away.

According to Travis Bradberry of Forbes.com, here some signs that validate your desire to quit:

It is time to quit your job if you…

a. dread going to work.

b. know more than your boss.

c. are out of the workplace loop most of the time.

d. lost your passion.

e. have a horrible boss who is not going anywhere.

f. see no room for advancement.

g. are suffering health wise.

h. are suffering in your personal life.

i. think the company is in danger of closing.

Image Credits: Quinn Dombrowski (CC License Attribution-ShareAlike)

If most of this or all of this are happening to you, consider your options before quitting your main source of income. Rendering a resignation is best done during the beginning of the month, wherein you are not holding any projects yet. Schedule your resignation email or letter and do so graciously.

3. RECEIVING YOUR BILLS (AS A YOUNG WORKING ADULT)

As a young working adult, especially if you are living alone, you become responsible for keeping the household sharp. For the first time in your life, you are the chief of your own bills.

With this newly acquired responsibility, you must stay organized to keep up with your payments. Set aside some time in the beginning of the month to make a list of the bills you are expecting to receive. Put it on your working desk or create a file for it. This way, you will not pay a bill twice even if you received it simultaneously by e-mail and postal mail.

Alternatively, you can get your payments automated. Since you are prepared for the bills earlier on, you may have available money in the bank to pay it the same day as you received it. If you have automatic payment scheduled and you still received a billing statement, call your bank or creditor.

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

Sources: 1, 2, 3, & 4

Affordable And Quality 24-Hour Laundromats In Singapore

If you are a avid-fan of FRIENDS, you would remember the first time Rachel and Ross kissed. It was in a simple self-service laundry shop wherein customers put their clothes inside the machines. The machines would wash their clothes once they filled its slot with coins.

In the most parts of the world, this self-service laundry shop is called laundromats while in United Kingdom, they call it launderettes. When this technology graced Singapore, people welcomed it with open arms.

Laundromats enables you to save time and money compared to the “traditional” laundry services. If you are rushing to have your business coat washed and dried, go to a laundromat! It will only cost you several minutes to get it done rather than the average turnaround time of 5 working days in other laundry shops.

With more than a hundred laundromats in Singapore, travelers can also take advantage of their affordable and pay-as-you-use prices.

On that note, here are four affordable and quality laundromats that operate for 24 hours…

1. WONDER WASH

Wonder Wash is one of the first self-service laundry shops in Singapore. By self-service I mean, there are completely no attendants! You are free to wash all your garments at any time and any day (except in their One@KentRidge outlet). Aside from their premium technology, Wonder Wash’s edge from the rest is their accessibility. With more than 40 outlets all over Singapore, you will surely find one that is near you!

Pricing:

Washing

11 kg from S$5

16kg from S$7

20kg from S$9

Drying

S$1 per 5 minutes

Locations: Full list of the outlets, here.

2. EASY WASH

Raved with good reviews in Yelp http://www.yelp.com.sg/biz/easy-wash-laundromat-singapore, Easy Wash uses their state-of-the-art technology to suit your needs and the needs of the delicate fabrics. You can choose from a myriad of services such as normal wash, soft wash, hot water wash, and double wash.

Pricing:

Image Credits: www.easywash.sg/pricing

Locations: 4 outlets nationwide. Click here for the full list.

3. WASHINGHUT

WashingHut started as a family business that has grown to be a well-established company in Singapore. Two things that make WashingHut stand out are their exclusive DOMUS technology and their prepaid payment system.

DOMUS, a company that boasts with 90 years of experience, is the official brand used by WashingHut. DOMUS Laundry Point allows customers to pay through coins, banknotes, and WashingHut Card prepaid card. Isn’t that amazing?

Pricing:

Washing

11 kg from S$5

16kg from S$7

20kg from S$10

Drying

S$1 per 5 minutes

Location: 216 Joo Chiat Road, SOHO Life, Singapore 427483

Image Credits: facebook.com/washinghutlaundromat

4. VAPOUR LAUNDRY

VAPOUR Laundry showcases modernity in its website and aesthetically pleasing environment. Using industrial-strength machines, customers can leave with their clothes as fresh and crisp as they can be. Wonderfully located at the vicinity of restaurants and bakeries, foodies who need to get their garments washed can just press the machine and grab a bite while waiting for 30 minutes or so. Also, they offer seasonal promotions so it is best to stay update by liking their Facebook page at: facebook.com/vapourlaundry.

Pricing:

Washing

10 kg from S$4 to 6

13kg from S$6 to 8

16kg from S$8 to 10

Drying

S$1 per 5 minutes

Location: 109 Clementi Street 11, Singapore 120109

Image Credits: facebook.com/vapourlaundry

Sources: 1 , 2 , 3 , & 4

Should You Buy Things Based On Their Values Or Prices?

In this day and age, how much are you willing to pay for a Smartphone?

Are you willing to spare a couple of hundreds or thousands of dollars? Would you rather purchase the Samsung J1 for S$168 or the Samsung Galaxy S6 Edge for S$1168?

For most of us, price by itself is not only the crucial factor that determines our purchase because we compare all the products that the market has to offer. In this case, Samsung Galaxy S6 Edge has been raved with good reviews and superior capabilities which makes it a strong contender against its counterparts. Beyond its price, we analyze several valuables and come up with a mental assessment of the product’s overall value.

This goes to show that price and value are two different things!

In economics, price and value are influenced by supply and demand.

A product’s price is determined by the intersection of supply and demand while, the value determines the demand. For example, if you are willing to pay S$10 for designer coffee then, you would be willing to pay S$6 or anything less. And, if the intersection of supply and demand prices the designer coffee at S$5, you are more likely to buy it. It does not mean that you place a S$5 value on the product but, it means that getting it at that price is worth it (for you).

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

Just because people are not willing to pay a lot of money for something does not necessarily mean that we do not “value” it. Take the “free” air you are breathing right now as an example. Need I say more?

In the marketer’s viewpoint…

Price is their monetary reward for providing us with the product or service while value is equal to our perceived product’s or service’s worth.

For example, the total cost for a repairman to fix a dripping air conditioner including the materials, travel, and labor is S$45. However, the value of the service to the customer, who has been tolerating the water leakage all over the room, is far greater than S$45! So, the repairman may charge you a total of S$60. Aside from observing the competitor’s prices, pricing is in lined with the perceived benefits that a business provides.

With all these in mind, ask yourself: “Should you buy it based on its Value or its Price?”

For what it is worth, I think it is best if you purchase products for their value, assuming you have the means to do so.

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

Frugal people buy products or services for their value using several techniques such as couponing. They value quality more than the price tag because premium products last longer. Thus, they get the most out of their money.

Sources: 1 , 2 , & 3

Not Investing Because It’s ‘Risky’?

Too often we hear of people or even peers who have not begun to explore the idea of investing because they’ve been told that it is ‘risky’. Wait, did you say ‘they’ve been told’? Does that mean that they never even tried their hands on it and come to the false conclusion that investing is risky? Sure, investing entails risk because there’s the possibility of losing money doing it. But do you really know what ‘risky’ mean? Does not losing necessarily equate to ‘no risk’? No.

True risk lies behind what is seldom seen. Having only one source of income is a really big risk. While the money is coming in from your monthly salary, it’s easy to feel safe and secure because you can settle your credit card debts, mortgages and bills. However, it’s this very framed up mindset, that money only comes from working (1 Income Source) that blinds us. We become so comfortable with receiving one paycheck per month that we fail to see the possibility of having multiple paychecks coming in.

Have you ever thought about “What happens if I got fired?” With layoffs becoming more and more common these days, it is a very real question. Is it simply just a time to go look for a new job to fix that broken stream of income? Or is it time to think about a greater issue at hand? This is the kind of risk I’m talking about, unforeseen risks. Who knows if another massive labour cut happens and you’re one of the unlucky victim? What would you do without 3-6 months of income? How are you going to pay for the bills now? Now, is having a job truly risk-free?

Consider this, what if you had a job while your investments were paying you cash dividends (Sharing profits with shareholders). Now you would have multiple streams of income, depending on how many different companies that pay out dividends consistently you have invested in. Even if you had lost your job, you still have a couple of income streams that does not even require you to do anything to make sure that money keeps coming in. This in turn creates a buffer for if in the unfortunate event you lose your job temporarily. On the even brighter side, you could have income from your job while your investments continue to pour even more income into your bank account!

Is investment still ‘risky’ when you see this side of the picture? Wouldn’t the risk of having only one source of income be even greater?

Just because you don’t know how to invest, doesn’t mean you can’t learn how to invest! There are many articles here on MoneyDigest and on the internet that can teach you how to invest. Just remember, which is more risky? Having only one source of income or spending some time to learn how create multiple sources of income.

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