how to save money Archives | Page 4 of 23

Don’t Be A Wallet Grinch! Here Are 4 Ways To Save During The Holidays

If you are fond of late Christmas shopping and New Year parties, curb your Holiday season costs by following these 4 savvy saving tips:

1. CREATE A LIST AND CHECK IT TWICE

With a desired budget in mind, write down a list of all the people you want to buy gifts for. Go through the names on the list and allocate a specific amount that you are willing to spend on each one. If money is still tight, go over the list one more time and reduce either the names or the designated amount.

For larger families, consider giving one present per married couple. Remember that you are not Santa Claus and it is not your duty to give everyone a present!

2. PULL OUT NAMES FROM A BOWL

Instead of spending a hefty amount on all your family and extended family members, consider the “Secret Santa or Exchange Gift” method wherein everyone will pick a name out of a bowl. After which, you will only have to fuel all your resources for that one gift and that one person. Aside from saving money, you just saved yourself countless hours of shopping.

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

3. USE THE MODERN TECHNOLOGY TO YOUR ADVANTAGE

Shopping for a gift is not always about getting the cheapest item but rather about getting the value for every cent you spend. So if you are undecided on which model or brand has prime quality at an affordable rate, get your money’s worth by searching online for credible reviews first.

For example, you can visit Stuff Singapore for reliable reviews on computers, tablets, games, and other gadgets.

4. REMEMBER WHY YOU CELEBRATE

With all the festivities going on, it is easy to lose sight of what is important. Whether you are planning to have a simple dinner as a family or go on an extravagant overseas holiday trip, you must remember that you are celebrating the joyous holiday season because you are blessed enough to be with the people you love most. And you cannot put a price-tag on that!

Best of all? You can use these tips for the next Holiday season! 🙂

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

Sources: 1, 2, & 3

5 Genius Ways To Save Money As A Start-Up

As a budding entrepreneur, your new business is tied with cash. With hundreds of things on your plate, you are either looking for more ways to boost your profits or more ways to save money.

Look no further as this list will explore smart ways where your small business can save money in its early phases…

1. SAY “YES” TO FREE AND CHEAP ADVERTISING

You do not need the fanciest commercials or the flashiest banners to bring in more customers. For now, all you need are free websites to post your ads.

Online classifieds are a good choice as these are cost-effective, convenient to relay contact, visible to a large-scale of consumers, and the you are able to edit a listing anytime. Browse a list of premier advertising websites here.

2. ONLY HIRE PEOPLE WHEN YOU NEED THEM

As a start-up, you are testing every aspect of your business including the amount of labor necessary. Do really a marketing team or can you handle the marketing aspect by yourself?

Instead of hiring professionals to do the job for you, you can commit several hours in developing skills. This is why it is not a good idea to hire a huge team of workers and waste a hefty amount on wages earlier on.

And when you decide to hire help, good sources of quality yet low-cost labor are university or polytechnic interns. If you are willing to supervise and devote your time to training, both of you can benefit from the experience. Think about it! You are giving a worthwhile experience and good recommendation for the intern while the business is receiving low-cost (and sometimes free) services.

3. USE A BUDGETING SOFTWARE

If you have zero knowledge on accounting or you need more help in your budget planning, then you must consider accounting software.

Aside from using an Excel spreadsheet, you may budget like a pro by using accounting software called inDinero. inDinero helps you run the small business better as it safeguards your transactions, your cash flow, and your expenses. It connects the bank accounts so you can visualize where your money goes. Furthermore, it helps you with your payrolls and taxes.

4. ARRANGE ONLINE MEETINGS

Globalization paved way for international affairs to be easily accessible. So if you have clients or workers who are overseas, what better way to hold meetings than by using inexpensive online tools such as Skype video conferencing or Facebook video chat?

To save even more, invest in laptops instead of desktop computers, as these laptops are not only less expensive but also consume less energy. Whenever possible, use these laptops and Internet tools to communicate effectively.

5. SAVE ON YOUR WORKSPACE

Office spaces in Singapore can get very expensive! Instead of forking out your wealth, you can consider sharing your space and splitting the rent with another small business. In fact, you can rent a flexible space for as low as S$450 a month with Regus.

Regus is a global company that has been around for more than two decades. With over 25 building locations islandwide, you will be able to find a space that suits you best! 🙂

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

Sources: 1, 2, & 3

Creating A Budget Is Like Learning How To Ride A Bike

Creating a budget for the first time is like learning how to ride a bicycle. At first you were scared to mount up those two-wheelers like how scared you were to conquer those mountain of debts. Even though you know these are healthy for you and your finances, you just cannot hop around and go!

That fear of yours consumed you. You never learned how to ride a bike gracefully. You never learned how to implement a budget efficiently.

Don’t you think it is the right time to change? For a brighter future ahead, I think it is!

Let me carefully take you to step 1…

Step 1: LOOK FOR A SAFE PLACE TO PRACTICE

When you are riding a bike for the first few times, it is better to find a place that will cushion your potential falls. Find a grassy field with short grasses so that it does not drag the wheels too much.

Likewise, you must find safe place to practice budgeting. That safe place is inside your head! Visualize your financial goals and examine how you are going to achieve them. Make it feasible and smart so you would not have too much unrealistic expectation. Then, list down your short-term and long-term financial goals.

Step 2: ENSURE THAT YOU HAVE ALL THE NECESSARY RESOURCES

After finding a “safe” place, the next things you have to gather are all the needed materials and information. For beginners in biking, consider strapping a helmet and kneepads. Tuck in your shoelaces while you are it. And avoid long pants, long skirts, and heavy clothing because the fabric can get caught in the gears or tires.

For beginners in budgeting, consider tracking your spending history (for the last two month). Gather all the past receipts, credit card statement, utilities bill, and bank statements. Estimate how much you make and spend each month.

Step 3: PRACTICE AND JUST DO IT

In order for you to practice riding or budgeting, you must push yourself to just do it. Mount the bike and get the feel of how it leans and steers. Notice how your body leans when you are going intro a curve. Instead of just using your hands to brave the curve, try letting your body turn and the bike will follow.

This will help you learn an important biking skill – balancing.

Now that you know your income and expenses per month, it is time to make a plan. Categorize your spending into 2-3 main categories namely: needs, savings, and wants. Learnvest suggests allocating 50% of your budget to your basic needs such as rent, food, transportation, and utilities. Secondly, 20% of your budget will go to your savings such as emergency fund. The last 30% of your budget will go to your wants such as mobile phone plans, gym memberships, and vacations.

This will help you learn an important budgeting skill – organizing.

Step 4: GET READY TO RIDE AND SAVE

From finding your safe place to pushing yourself to do it, the final step to take is to face your fears.

Ride that shiny bicycle! Follow that well-devised budgeting plan!

Raise the seat of your bike but keep it low enough so that you can touch the ground with your toes. Balance and steer along the flat surface. Glide along the gentle slopes. Allow yourself to go naturally with the flow of the road.

On the other hand, you must follow your budgeting plan that you devised on spreadsheet file or budgeting software. Track your spending and eliminate at least two unnecessary expenses every month. By doing so, you are keeping things under control.

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

Over the course of the month, you will encounter slopes and obstacles but you have to persevere on. It will all be worth it in the end!

Sources: 1, 2, & 3

Smart, Simple, and Swift Ways To Save Money Now

Would you rather spend your six minutes to check the latest gossip on Facebook, to stalk the recent celebrity updates on Instagram, or to save a decent amount of money?

The last choice proves to be healthy not only to your finances but also to your life in general.

So start allocating at least 6 minutes of every day to do 1 of these money-saving steps:

1. UNPLUG THE TELEVISION

Did you know that the electricity cost for households is 20.35 cents per kWh? Thus, the monthly cost of a 40″ LCD television (TV) running for 6 hours daily is about S$7.69.

In reality, you cannot maintain the energy consumption of the television constant due to social events. There may be days when you alone time with yourself the remote and other days when you want to go out with friends. Also, free previews during holidays can make you want to use the cable TV even more.

To keep the tariff into a minimum, it is important to switch off and unplug your TV when no one is watching. Instead of leaving the TV on as a background noise, consider your hand phone as a radio. This small daily acts can save you a whole month’s worth of major electricity.

2. LOOK FOR ONE EXPENSE TO ELIMINATE

Spend your 6 minutes by examining your last month’s utilities bill or last month’s credit card statement. Use your hawk eyes to look for one expense you can reduce or eliminate. Whether it is the unusable Yoga studio membership or the expensive dinners at the restaurants, there is a surefire way to cut and save!

For example:

Say you have different telecom provider for your hand phone, landline, and cable TV. Cut them all and save money by getting a promotional bundle from one provider.

3. ALTER AND FIX YOUR CLOTHING BY YOURSELF

Tailoring or sewing services in Singapore can range from S$5-40 depending on the type of clothing article. Some of the prices are too much if you asked me. You might as well buy a new one. Good thing there is a better and quicker option – altering clothes by yourself.

Instead of tossing away your favorite shirt because of several broken or missing buttons, sew new ones into the fabric one by one. 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. Then, be guided by this short video:

Aside from sewing buttons, master the basics stitches now by browsing through the free tutorial videos available online or by reading this post.

4. COMPILE THE BEST FINANCIAL RESOURCES ON THE WEB

Make a concise list of the premium financial resources on the Internet that are both free and objective. Upon making the list, subscribe to their email or Facebook notifications so you are constantly reminded of the money-saving tips, great deals, online coupon codes, and other financial news. Rather than using your personal email, it is advisable to make a separate email for this.

This simple step can save you money regularly in 6 minutes or less! Begin the list by including Money Digest and MoneySENSE (the national financial resource made by the government).

Image Credits: facebook.com/MoneyDigest

Sources: 1, 2, 3, & 4

5 Clear-Cut Ways To Save Sizable Money As A Tourist In Singapore

If you believe that following your travel budget on one of the most expensive countries in the world is impossible…think again! There are many ways to save a sizable amount of money as you explore Singapore.

Here are just some of them:

1. SAVE ON FOOD AND BEVERAGES

Food and beverages is one of the few categories you will be spending more on as you travel. Singaporean cuisine is unique because of its cultural diversity that is influenced by the neighboring Asian countries. So if you are tempted to try all the mouthwatering local dishes, eat at cost-effective food courts called “hawker centres” or traditional coffee shops called “kopitiam”.

Also, save money on water by drinking safely from the tap. Simply purchase a small bottled water for S$2 and refill it again via tap, for free.

2. SHOP AT THE RIGHT PLACES

Singapore is a haven for food lovers, for digital enthusiasts, and for fashionistas of all ages! It has an abundance of shopping centers. As a first time tourist, shopping for bargain keepsakes for you and your loved ones can be challenging and overwhelming. Ease your search by checking out these posts:

a. Excellent Places To Find Low-Cost Uniquely Singaporean Souvenirs

b. Perfect Places To Buy The Cheapest Perfume And Other Fragrances In Singapore

c. Perfect Places To Buy Cheap Camera And Accessories In Singapore

3. GET THE BEST EXCHANGE RATES IN TOWN

It is quintessential to find the best place to change the currency of your money especially if you are travelling for a long period of time. Luckily for you, Singapore boasts with an array of licensed and reliable money changers that offer the best rates for most foreign currencies. Save more money by comparing the rates of each shop or by reading this concise post.

4. SAVE ON TRANSPORTATION

Singapore is one of the few countries where walking is recommended and enjoyable. Indulge in the picturesque sights and neighborhoods by walking to and from the tourist attractions. Otherwise, take advantage of the efficient transportation services by purchasing an EZ-Link card instead of paying for each ride.

By using an EZ-Link card, you only pay for the distance traveled, rather than paying for the flat fare. For short trips, save even more by purchasing the Singapore Tourist Pass, which allows you to have unlimited rides for 3 days. Thus costing you as little as S$6.70 a day (T&C apply).

5. STRICTLY FOLLOW THE RULES

It is no secret that our country has been dubbed as the “Fine City”. The common penalties range from S$200 to S$1,000. For example, you have to pay S$500 per pack once you are caught bringing it inside the country. Some laws are even popular for its outrageous nature such as banning of chewing gums.

Image Credits: Paul Papadimitriou via Flickr

Avoid breaking the bank by being aware of and complying with the regulations. Be reminded by the warning signs that are plastered islandwide.

Sources: 1, 2, & 3

Search the site