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Welcome The Auspicious Chinese New Year By Spending Less

According to a recent survey by United Overseas Bank (UOB), Singaporeans are planning to minimize their overall spending for the Chinese New Year (CNY).

It is interesting to read that 3 in 4 people intend to use their red packets to grow their savings. Furthermore, the participants’ budget for the joyful event is S$2,503 on average. This number is 11% lower than last year’s intended budget of S$2,805. Just take a gander at this info-graphic:

Image Credits: http://www.straitstimes.com/sites/default/files/articles/2017/01/13/uob_cny_2017_infographic_12jan_fa_2-3.jpg

Image Credits: straitstimes.com

To help your wallet and your cause, here are some tips to lower your CNY spending:

GO LIGHT ON SNACKS

The vibrant festivities of the CNY will not be complete without the delectable snacks. You may notice that that homemade snacks are all the rage these days.

Many small-time retailers had to hire helpers in order to satisfy the demand for these special snacks. The act of labeling a snack as “homemade” can increase its worth by approximately 25%. For instance, a fifteen-dollar box of sweet almond cookies will cost S$18 or S$20 instead. The meticolous process poured into homemade snacks make it generally acceptable to charge more.

Reminder: Set a fixed budget for your snacks. Focus on amplifying the quality of your party rather than the food.

GET RID OF THE BAD MOJO

Sales are everywhere! Instead of spending your hard-earned money on shopping, put your unused energy into good use. Get rid of the unpleasant mojo from the years past by employing something similar to “spring cleaning”. Tidy up your entire home thoroughly with your family. It is important to keep your broom, vacuum, and mop before the CNY too.

Remember: Superstition dictates that whatever you do during the CNY season will characterize how you will live through the following 12 months. This is why you must keep your home and finances in order. For instance, you must avoid borrowing money in the first two weeks of 2017.

ALLOCATE FUNDS FOR ANG BAO

Red packet or Ang Bao will grace the country once more to mark the first day of the CNY. It exudes “good luck” and is supposed to ward off the evil spirits. The red packet contains as low as S$2 and as high as S$200 on average.

Married couples are usually the ones to distribute the red packets to single people. Now, let us discuss how much money shall be put inside. A red packet containing a minimum of S$2 to S$20 is appropriate to give for children, while it ranges from about S$8 to S$88 for parents. You may give the same amount of money to your friends or colleagues’ children as you did with your own children.

Image Credits: pixabay.com

Reminder: Innocent children are likely to misplace the red packets. Give the money directly to the parents instead.

Sources: 1, 2 &,3

Chinese New Year Deals That You Do Not Want To Skip

Chinese New Year 2017 (CNY) is merely 8 days away. Abundant food, bright decorations, family reunions, and little red packets will grace Singapore once more.

Here are some of the exciting deals that you do not want to miss:

REWARDING DINING EXPERIENCE

Singaporean families generally usher the Chinese New Year with the warm presence of each other. Gatherings and reunions occur from the first until the second day of the CNY. This is why your dining expenses may be overwhelming. Fortunately, Standard Chartered Bank has your back!

Standard Chartered lets you savor a hearty feast with the “2017 Chinese New Year Dining Cashback Promotion”. Enjoy 15% cashback when you charge your registered credit card from now until February 28, 2017 (T&Cs apply).

HARMONIOUS FAMILY GATHERINGS

Speaking of the eating dynamics, CNY festivities will not be complete without the perfect Yu Sheng. Yu Sheng or Prosperity Toss consists of raw fish strips fused with shredded veggies and varied sauces. Its traditionally consumed during CNY in Asian countries such as Singapore, Malaysia, and Indonesia.

Celebrate the promising “Year of The Rooster” in a true Blue Lotus style by taking advantage of its communal-style set menus. Families and companies are welcome to try the Harmony (about S$68/person), Prosperity (about S$88/person), and Longevity (S$108/person). Each set begins with the Tea-Smoked Norwegian Salmon Yu Sheng. It will be followed by other dishes that were crafted by the highly acclaimed Owner and Chef Ricky Ng. Reserve a spot by calling +65 6339 0880.

ONE-STOP SHOP FOR THE ESSENTIALS

Dreaming about getting your supply of delectable goodies and festive decorations in one spot? Turn your last-minute fantasy into reality by hopping to the “TANGS Chinese New Year Fair” at the VivoCity Central Court.

Feast your eyes and taste buds as you travel through the busy ailes. Maximize your wallet’s capacity by participating in the “Festive Lucky Draw” for a chance to win attractive prizes. Almost all of the shops inside the mall are currently having their CNY promotions as well.

LUCKY YEAR OF THE ROOSTER

Sentosa boasts a goldmine of exciting activities and picturesque landscapes. It holds a special place in my heart as I visited the island during special occasions. Why shall CNY be any different? For starters, they are rewarding selected individuals.

Image Credits: facebook.com/sentosaofficial

Locals and Permanent Residents born in the Rooster Year shall rejoice! Simply present your IC at the Sentosa Station redemption booth from this Saturday to Sunday to reap free Island Admission Ticket and Singapore Cable Car Sky Pass. You can enjoy these rewards between January 28 to 30, 2017 (T&Cs apply).

How Frugal People Can Save On Home Improvements

Many people dream of reinventing their nests to blissfully usher the New Year. Whether you intend to make DIY projects or something massive, you will need more money and consideration.

On that note, here are four tips to help you save as much of your hard earned cash as you possibly can:

WHY WALLPAPER MAY NOT DO THE TRICK

Owing to its unique geographical location near the equator, Singapore experiences a tropical climate characterized with high humidity and abundant rainfall. It is not advisable to decorate your walls with wallpaper as the distinct climate can make it discolored or curled up.

Bestowing your walls with wallpaper is not only expensive, but it can also face the risk of discontinuation of products. You will have to endure the sight of inconsistent patterns or the hefty cost of redoing your entire flat. Prevent this from happening by opting for painting instead.

PLAN YOUR BUDGET IN ADVANCE

Planning ahead can be a lifesaver! Just imagine a driver who ignored the steps of adjusting the side mirrors, locking the doors, and fastening the seat belt. Accidents occur everyday and you must not take the risk. It may seem rehearsed or limiting at first glance. But, you will reap its benefits soon after.

Know what renovations you desire to make. Getting a LED mirror might be more cost effective than buying a separate light to pair with your mirror. Prevent going beyond what you can realistically afford by researching the costs of the materials and labor. Shop around the physical and virtual stores if you have to! Lastly, add a cushion of at least 20% to your intended spending. Say you want to repaint your walls for S$2,000. Be prepared to spend about S$2,400 as additional costs may rise.

SHOP DURING SALES AND CLEARANCES

Frequent your local home improvement, hardware, and home decor stores as much as possible. Expect that your first couple of trips can be overwhelming. You may not find significant bargains right away! Do not give up just yet.

Take your time to review the prices of the materials or products that you intend to buy and compare these with the online retailers. For instance, Horme Hardware has an ongoing “Chinese New Year Promotion” until January 18, 2017. Shoppers will be rewarded with free delivery.

NEGOTIATE WITH THE CONTRACTORS

Before committing to a team of contractors, negotiate well to earn the best deal. Avoid partnering with contractors who offer insanely low prices for their services. You may end up hiring a different contractor to fix the flaws of your previous contractor. Follow your common sense! It may know when things are getting “too shady”.

Image Credits: pixabay.com

Collect at least three quotations from reputable contractors in Singapore. Then, discuss about the probable discounts that can compete with the raging market.

Sources: 1 & 2

Horrible Financial Habits To Drop This Year

As preconceived habits are harder to break, it takes patience and dedication to break these financial habits:

THE HABIT THAT I DO NOT TOLERATE

If someone asked me to identify a single financial habit that I am irked by the most, I will immediately answer “disorganization”. I appreciate when things are labeled and stacked in order. This is why I make it a habit to file my receipts, keep my cards in one place, and schedule my payments. Is it just me or does your mind work more efficiently in the sight of a clean desk?

Well, tidiness works to my advantage as it helps me to avoid unnecessary expenses. Money spent on interest charges, late fees, unused memberships, and unwanted subscriptions can pile up! Can you guess what binds these expenses together? Disorganization is the answer.

Place conscious effort towards creating a system that will keep your finances in order. Do not fall behind your billing statements, nor shall you let your important documents stack up.

THE HABIT THAT BLOCKS A GOOD DEAL

Say you are a habitué of Money Digest’s Facebook Page. You frequently stumble upon good deals in various categories. As a business owner, you are immensely attracted with the services of a supplier that offers inexpensive prices online. Do not cancel on your current supplier in a snap! Instead, call to negotiate. Carefully analyze the situation and make logical points about the competitors.

If your timing and approach is proper then, your current supplier may quickly match the competitor’s offer. Do not be afraid to negotiate!

THE HABIT THAT MANY POSSESS

Many Singaporeans do not keep track of their spending as they deem it to be time-consuming or unnecessary. However, making money management an habitual regimen is essential for every working adult.

You do not need to adapt an extravagant lifestyle or earn millions to start a financial plan. Simply keep track of your daily spending and examine it each month. Then, accurately plan to meet both your long-term and short-term financial goals.

THE HABIT THAT LIMITS YOU

There is a reason why entertainment websites such as 9GAG and Reddit flourish worldwide. These were especially created for people who have a habit of procrastination. These people push off tasks and decisions as they intend to accomplish it in “later” parts of the day. Have you caught this habit yourself? It is time to break the cycle as you welcome a new year!

Reach your fullest potentials by researching your options on insurance, savings, and investments. Befriend Father Time as he can bestow you the gift of compound interest.

THE HABIT THAT CAN BREAK ONE’S SMILE

Some religious leaders advocated against the idea that more money can bring happiness. Money can immediately bring joy, but only to an extent. Researchers in Princeton released a study in 2010 showing that happiness increases as the income increases until US$75,000. After this point, it plateaus.

Purchasing or owning more items can increase your happiness in the short run. In contrast, spending your money on others can generate more happiness than splurging for yourself. Consider holding a fund raiser or donating your old clothes. A little act of kindness can go a long way!

THE HABIT THAT HARRY POTTER CAN CONQUER

The J.K. Rowling’s fictional book series that blew the world by storm included the dark creatures called the “Dementors“. The lead character named Harry Potter had to vanquish these creatures, which feed upon human happiness. They suck the individuals’ souls out of their bodies. Rowling modeled these creatures to the immensely negative people in her life.

Image Credits: iKobe! via Flickr Creative Commons

Are you a Dementor? Do you create a bubble of negativity above your head? Do you believe that you are constantly overworked and underpaid? Is it your habit to complain about your paycheck? Consider stopping the vicious cycle of negativity. Instead, solve your problems by employing strategies such as negotiating a pay raise or going on a well-deserved vacation.

This year, stop ranting and start doing!

Sources: 1, 2, & 3

5 Creative Ways To Earn Money This Yuletide Season

This is the season to be jolly. Parties, presents, and all the festivities do not come cheap! You can easily be trapped into months worth of debt if you remain careless. This is why you must find a few creative ways to earn extra money.

1. RECYCLE YOUR STUFF

Your unwanted pile of trash can turn into treasures thru a single environmentally friendly act – recycling. Some individuals, especially in developing countries, make a living by selling scrap. Do something similar by submitting your trash into one of Veolia’s recycling station. Veolia’s Cash-For-Trash Programme started in May 2014. Since then, various stations were set up within the HDB estates.

Papers can earn you about 10 cents per kilogram while, old clothing can earn you about 30 cents per kilogram. Aluminum cans can earn you about 50 cents while, metal tins can earn you about 10 cents. The distinct prices of your items depend on the quantity and material.

2. SPREE FOR FREE

Wouldn’t it be nice if the cost of your holiday shopping was generously covered? I know it sounds counterproductive to make money by spending money, but it is possible!

The people that shop for a living are called Mystery Shoppers. Mystery Shoppers are paid by the company’s marketing department to report about their experiences as they try the said company’s services or buy their goods. Accepting this job will entail getting paid for your time as well as for the items that you bought.

Eager to be one? Check out the current job openings at Gumtree.

3. WORK MORE THAN USUAL

I am going to impart one of the most efficient ways to make more money in the remaining days of December. This is none other than hustling at your current job. Work overtime and take extra projects. You may be tasked to widen the referral system or input hundreds of data. Just take on the task that no one else wants and receive appropriate payment for it.

4. WRAP FOR FEE

As the eldest of three siblings, I experienced wrapping gifts for several friends and family members. It is undeniably a chore that most people do not appreciate. This is why gift wrapping enthusiasts and alike can offer their skills for a fee. Purchase colored papers, festive ribbons, and gift tags in bulk to save more money.

If you can sell your service in a cheaper rate than what the shopping malls are asking then, you can easily hit the jackpot.

5. SELL YOUR SNAPS

Have you ever been attracted to the images attached in the online blogs and other advertisements? Most of these eye-catching features were from the company’s stock images. Stock images consist of photographs that are usually licensed for specific purposes. Companies pay decent amount of cash for these.

If photography is a special part of your talent reservoir, consider selling your masterpiece. Companies are in constant need for images for their websites, brochures, cards, blogs, and other projects. Start by selling your snaps on Shutterstock. Each website works differently so read through the guidelines first before you commit.

Image Credits: pixabay.com

Source: INC

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