money Archives | Page 5 of 15

How Much Shall You Spend On A Gift Without Looking Cheap?

While scouring the land for the one-of-a-kind gift, keep in mind that you must remain financially savvy. You may be tempted to go over your budget since you want to make the recipient feel special or you do not want to come across as being cheap. However, your gifts need not to be expensive to put a smile on someone’s face.

It is hard to put an exact price tag on the perfect gift as it all depends on a set of factors, namely: the amount you can afford, the budget you set, the current occasion, and the giver’s relationship with the recipient.

THE AMOUNT YOU CAN AFFORD

I read a good financial nugget from Manisha Thakor of The BAM Alliance. She said that if you cannot afford to buy the item in cash at the very moment then, you cannot afford to buy it. Simply, she wants us to be realistic when it comes to what we can and cannot afford. So if you are shopping in the mall, it is best to use mainly cash to regulate your spending. And if you are shopping virtually, convert that money as a gift card. When the gift card is maxed out, you will be done shopping.

THE BUDGET YOU SET

Just because the person gave you a lavish gift does not mean that you must do the same. If you budget does not allow you to go beyond S$50 for a gift then stick with your limits. Being stuck on debt just to keep up with a superficial appearance is never worth it.

If you are following a strict budget, you can allow your creative juices to pump. For example, your make-up obsessed best-friend wants to purchase the ridiculously costly and highly sought-after Kylie Lip Kit. You know that the product and shipping costs will exceed S$50. Then, you searched online for quality yet affordable dupes (equivalents) such as the NYX’s Soft Matte Cream lipsticks. These only cost S$12 so you went to Sephora and purchase four beautiful colors!

THE CURRENT OCCASION

The current occasion also dictates how much you shall spend. To illustrate this, let us take the Singapore’s “red envelope” gifting tradition into the table. For Chinese New Year, an amount of S$2-20 is common to give for children while it ranges to about S$8-S$88 for adults. On the other hand, the minimum Ang Bao amount for wedding banquets is S$50. This is why it is important to take the nature of the occasion into account. For corporate events, you can consider shopping from specialized online stores that offer corporate gifts or door gifts.

THE RELATIONSHIP WITH YOUR RECIPIENT

To whom is the gift for? How close are you to him or her?

Image Credits: pixabay.com

When it comes to giving the “perfect” present, it really is the thought that counts. If you are able to purchase a gift that translates how well you know and care about the person, you have done your job right. Start by determining what the person’s hobbies and interests are. From there, you can think of some gift ideas that will fit your budget.

Sources: 1 & 2

Welcome To The Wide World Of Freelancing

Aaahh FREELANCING! What started as a theoretical idea became a reality with the launch of “e-lancer” websites such as Guru.com (1998) and Elance.com (1999). Back then, clients from around the world posted jobs that are bound to be completed after a day, a month or a year. The virtually connected e-lancers join together into temporary networks to sell goods and services. Once the network dissolves its e-lance members become independent contractors again.

Apart from its name, freelancing has evolved throughout the years. Freelancers today have the option to work on a full-time or a part-time basis as they are essentially self-employed. With the big players such as UpWork and Freelancer, the world of freelancing is more competitive than ever. A testament to that are the other websites that offer relatively “cheap” labor to a wide variety of global clients. Here are just some of them:

1. CODEABLE

Codeable is unique in every sense as it focuses on the outsourcing services for WordPress. This niche site started back in 2012 and has since grown due to its dedication to hire excellent WordPress developers. These developers are then connected to the clients that are in need of on-demand website support.

2. PROJECT4HIRE

Project4Hire aims to meet the outsourcing needs of small business owners, individual webmasters, and large companies due to its variety of professionals. With hundreds of project categories, it makes it easy to determine jobs that suit your skill sets.

3. TOPTAL

Toptal’s approach to outsourcing is different as only the top 3% of applicants are allowed to be on the site. Toptal is sure to reward your prowess with meaningful projects and fair compensations from renowned clients such as Airbnb and J.P. Morgan.

4. 99 DESIGNS

Originally from Australia, 99 Designs became one of the world’s largest online graphic design marketplaces. They have been connecting designers to customers who are in need of quality yet affordable designs. If you have always been good and passionate at Photoshop or any graphic design tools then 99 Designs is perfect for your skills. Simply enter t-shirt, logo, website, and print design contests to win and earn money.

Image Credits: www.pixabay.com

As you explore freelancing as a viable career option, do not forget the important factors such as time, effort, and cost!

Sources: 1, 2, 3, & 4

How To Get Lucky With Money And Life

Have you ever wondered why some people are lucky in love, money, and life while some are not?

Well…Mr. Bob Miglani and Dr. Richard Wiseman argues that there are several reasons and factors why people achieve success. In an article for the HUFFINGTONPOST, Bob Miglani – the author of “Embrace the Chaos”, shares some reasons why some people get so lucky in money and in life. Here are some of them:

1. PERVASIVE POSITIVITY

Start the day right by planting positive seeds as soon as you wake up. Make the conscious effort to choose good words (e.g., “Have a wonderful day!”) and positive actions (e.g., beginning with a prayer of gratitude) to overcome the limitations set by your mind. Let this positivism translate towards other parts of life by surrounding yourself with people who boost you up. Worry not about the negative people that slow you down.

2. CLEAR PURPOSE

People who are lucky set clear objectives and do their best to achieve them. Whether you want to provide well for your kids or you want to open a successful business, attract those goals to you by writing them down. Jump out of the bed each morning with a purpose as you truly have something valuable to give to the world!

3. FAILURES AND SUCCESS

Lucky people have a different perspective of setbacks and success. Although failures can be experienced by anyone, they keep on going because they know that they have the power to overcome it. This belief helps them to persevere through the failures.

Success, on the other hand, is not achieved through a straight path. Lucky people flow thru the uncharted waters and handle all the curves along the way to success.

********************************************

Aside from these reasons, Dr. Richard Wiseman – a Psychiatrist and an author of “The Luck Factor: The Four Essential Principles”, reveals that people are not born with good luck or bad luck. In fact, good luck results from a person’s good attitude. Here are ways to achieve that:

1. WINNING EXPECTATION

Expecting to win not only helps you to handle money but it also helps you to handle life. For instance: If you are going to a job interview, visualize that you have gotten the job already. As the interview commences, you will find yourself more relaxed and confident. This may lead you to performing better in the conversation and eventually landing the job.

2. NEW THINGS

Every new activity or products you try gives you the opportunity to become luckier. If you are trying to win the lottery, try entering the various types of sweepstakes to widen your range and luck. If you are trying to get a new job, try going to different places and even consider relocating overseas. Embrace new experiences and see how much you like them.

Image Credits: pixabay.com (CC0 Public Domain)

Financial Intimacy: How To Mix Love With Money

Relationships and investing are both complicated and mixing the two can either be a home run or a recipe for disaster. As Michelle Singletary, author of Your Money and Your Man: How You and Prince Charming Can Spend Well and Live Rich, once said:

“Couples want to know should they have his, hers, or ours, or all of the above. They’re not sure how to manage it. And that’s where a lot of the arguments come in, especially if there is uneven income earning between the two.”

Sometimes an individual may feel like a child receiving an allowance from his or her spouse, but it turns out that the person simply cannot handle money well. The situation can be resolved if both parties begin to be accountable for their money. Aside from this, here are some tips to boost your financial intimacy:

1. INTERVIEW EACH OTHER

Upon entering a serious relationship, you must discuss about your perspectives on money, spending habits, and sharing costs. This will make talks about financial issues easier as time goes by – especially if you are planning to spend the rest of your lives together.

For couples who are about to get married, you must touch on the long-term subjects such as how to enhance your credit scores, how to address retirement, how lavish your wedding ceremony will be, and how do you plan to manage your money.

2. BE COMPLETELY HONEST

Regardless of whether you have joint or separate bank accounts, you must always be honest to your partner about your current financial situation and your ideal financial situation. Tell him or her about your purchases, debts, income, assets and other things that are in your account/s right now. As for your ideal financial situation, relay your future plans such as having annual overseas trips.

Financial intimacy entails full disclosure about your finances including knowing what documents are signed and where the records are kept.

3. SEEK OUTSIDE HELP

When it comes to marriage, you become half of a legal and financial partnership once you say “I do!” This is why Premarital Counseling incorporating a strong financial component is a great help. If you are deciding to purchase a condo or an HDB through your CPF accounts, the financial professional will guide you to good credit score and substantial amount of savings. An accountant during the first year of marriage is also helpful as your taxes can get complicated during the transition from single to married.

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1,2, & 3

How To Preserve Your Currency Collection Effectively

Currency collection is both a hobby and an investment to many people. After reading the “Newbie’s Guide To Collecting Currency In Singapore”, it is time to know about the ways to effectively take care of your collection.

1. HANDLING

Employ some precautions when handling the banknotes and the coins. To pick up your collection properly, you can either use a pair of trusted tweezers with studded ends or wear a pair of cotton gloves. Avoid using your bare hands as it may stain the coins and soil the notes. Furthermore, your collection may absorb contaminants that may damage it.

2. KEEPING

To create an appropriate storage environment for your precious collection, start by finding a dry place that avoids direct sunlight and artificial light. The high levels of ultra-violet rays are not only harmful to us but also to the notes. So store it at a constant temperature of 20-24 Celsius with a relative humidity of 45-55%.

Notes and coins are best kept in small containers, protective holders, and albums. Or you may purchase a safe for your home to avoid paying the recurring fee of renting a safe deposit box.

3. CLEANING

More than anything else, improper cleaning has damaged valuable coins. For example, un-circulated coins should never be cleaned as improper cleaning can cause permanent loss of value, original mint finish, and antique color. This is why experienced collectors and dealers recommend that the experts should only be the ones to polish coins.

4. INSPECTING

To help detect deterioration at its early stages, you must regularly inspect the condition of your collection. Complete repair may no longer be possible if the deterioration is discovered too late!

Image Credits: pixabay.com (CC0 Public Domain)

When you decide to take action, always seek the advice of an expert regarding the cleaning or restoration procedures as unqualified attempts will more likely cause a decrease in its value.

Sources: 1, 2, 3, 4, & 5

Search the site