Bundle Your Phone, Internet and Cable TV
If you pay separate bills for home phone, cable, and internet service, you will be able to save some money by bundling all these services together with the telecom company.
The disadvantage is that you will be contracted to the telco for a fixed period. Example of a bundle plan is the mio home plan from Singtel.
Use Skype to reduce Cell-phone Charges
Talking on a cell phone can be expensive, especially international call. To save on international calls, use Skype when you are at the computer.
Skype turns your computer into phone. You can call other Skype users for free, and other phones for very cheap. All you need is an internet connection and a headset.
Pre-paid cards
If you are mostly not on the phone, you probably want to use a pre-paid card instead of signing up for a post paid plan. My son and my wife use pre-paid card as they are seldom on the phone. They top up $10 for the card every 3 months. I don't see any post-paid plan that cost below $10.
Choose the appropriate post paid phone / broadband plan
Choose the apppriate plan according to your need. If you talk a lot over the phone, you certainly want to choose a plan that give you a lot of free call minutes. If you do not need high broadband bandwith, subscribe to the lowest plan. I just recontracted my 3mps unlimited broadplan.
Thursday, 13 October 2011
Wednesday, 12 October 2011
Saving Money tips on Groceries
"Prepare to pay more for Thai rice" - Straits Times October 11, 2011
"Hungry world will drive up food prices even higher" - Straits Times October 3 2011
"Singapore inflation rate expected to remain high" - Straits Times Sep 3, 2011
When you are constantly bombarded with all these headlines, you understand why the dollars you have seem to buy you much less food than one year ago.
In order to stretch your food dollars, here are some super saver tips:
1. Frozen Option
- Opt for frozen meat rather than fresh cuts. It could reduce your bill by up to 50%. Frozen cuts are just as tasty as fresh ones, and as nutritious.
2. House Brand Advantage
- Buy supermarket house brands and items produced in Singapore and the region. They cost less. Example of house brand in Singapore supermarket are those from Fairprice and Cold Storage.
3. Less Meat, More Vegetable
- You could substitute meat dishes in your diet with bean and tofu dishes. And eat more vegetables. These are cheaper and healthier
.
4. Buy in Bulk
- Some essential items like rice can be much cheaper when bought in bulk. If the amount is too much for your household, ask the neighbours or your family members to share in the purchase.
5. Buy items on Sale
- Look over the newspaper advertisements and you will find items that are on sale for the week. However, buy it only if you need it. If you buy an item, store it and never use it then you have wasted your money.
6. Use coupons and discounts / rebates
- There are supermarkets / shops that offer discount to senior citizens on one day of the week. Another may tie up with a credit card company to offer rebates/ supermarket after you chalk up enough points.
"Hungry world will drive up food prices even higher" - Straits Times October 3 2011
"Singapore inflation rate expected to remain high" - Straits Times Sep 3, 2011
When you are constantly bombarded with all these headlines, you understand why the dollars you have seem to buy you much less food than one year ago.
In order to stretch your food dollars, here are some super saver tips:
1. Frozen Option
- Opt for frozen meat rather than fresh cuts. It could reduce your bill by up to 50%. Frozen cuts are just as tasty as fresh ones, and as nutritious.
2. House Brand Advantage
- Buy supermarket house brands and items produced in Singapore and the region. They cost less. Example of house brand in Singapore supermarket are those from Fairprice and Cold Storage.
3. Less Meat, More Vegetable
- You could substitute meat dishes in your diet with bean and tofu dishes. And eat more vegetables. These are cheaper and healthier
.
4. Buy in Bulk
- Some essential items like rice can be much cheaper when bought in bulk. If the amount is too much for your household, ask the neighbours or your family members to share in the purchase.
5. Buy items on Sale
- Look over the newspaper advertisements and you will find items that are on sale for the week. However, buy it only if you need it. If you buy an item, store it and never use it then you have wasted your money.
6. Use coupons and discounts / rebates
- There are supermarkets / shops that offer discount to senior citizens on one day of the week. Another may tie up with a credit card company to offer rebates/ supermarket after you chalk up enough points.
Tuesday, 11 October 2011
Saving Money tips on Utilities
All households rely on utilities such as electric, natural gas, and water service to meet basic, everyday needs. Each day, you use these utilities to perform many daily tasks. As the price of energy continues to rise, so does the cost for these necessities, and many households are looking for ways to reduce the cost of their utilities. By practicing energy /water conservation, we can develop habits to reduce our energy/water usage and save money on our utility bills.
If you are interested to know more water saving habits or energy saving tips , you can refer to PUB or SP Services websites respectively.
Climate change is a global problem.
All of us contribute to climate change whenever we switch on an electrical appliance such as the air-conditioner, the radio or the lights. That is because our power plants generate the electricity we use in Singapore by burning fossil fuels such as oil and natural gas. Burning fossil fuels releases carbon dioxide (CO2) which is a greenhouse gas. Excess CO2 traps more heat from the sun via the greenhouse effect, causing climate change. Electricity generation accounts for 48% of Singapore’s CO2 emissions in 2005.
We can all do our part to help fight climate change by reducing the electricity used at homes. Reduce CO2 emissions, help the climate and save hundreds of dollars a year!
So take steps to reduce your CO2 emissions now…..and save money at the same time. It is a “win-win” situation for all.
Monday, 10 October 2011
How you can save money?
With fear of a recession coming, it is believed that those who earn just enough to survive but have a little saving will be dealt with the biggest blow. While they are financially afloat for now, their saving would not be enough for them to ride out an economic storm.
At this point, i find it useful to recap on some money saving tips to increase one own savings.
Below is an extract from the free 'Survival Guide' provided by Central Singapore CDC.
HOW TO SLASH YOUR UTILITY BILLS:
Keep them off
- Switch off electrical appliances at the plug point when you are not using them.
Use a Flask
- Switch on your electric airpot only when you need it.
Cool Temperature
- Set the thermostat of your air-conditioner at 25 degrees Celsius, deemed the optimal temperature by experts. Each degree you raise the temperature takes $25 off your bill a year.
Desktop Helper
- Do not keep your computer running if you are not using it.
Four Ticks is Best
- Buy only appliances, like refrigerators and air-conditioners, with energy efficient labels. The more ticks an appliance has, the less energy it uses. The difference in an electricity bill between a four-tick and a one-tick air-conditioner could be as high as $460 a year, and as much as $130 a year when it comes to refrigerators with four ticks.
Better Bulbs
- Use energy saving or compact fluorescent bulbs, and watch your bill drop by $20 a bulb a year.
MONEY SAVERS water
Five-Minute Shower
- Keep your showers short. Turn off water while soaping.
Use a Thimble
- Attach one of these water-saving devices to your taps, especially the ones at the kitchen sink. Thimbles can be bought at kitchen equipment outlets, hardware shops and home improvement stores. To get a free thimble from PUB, National Water Agency, call 1800 284 6600, or send an email to PUBone@singnet.com.sg. Give them your mailing address and they will post a thimble to you.
Bottle Helper
- To reduce the amount of water you flush away, fill a 500ml bottle and put it in your cistern. Make sure the bottle touches the floor of the cistern. But do not let it touch the cistern’s mechanism.
Re-use water
- Don't wash your vegetables under a running tap. Wash them in a basin of water. Then use that water from your washing machine too, to flush the toilet.
MONEY SAVERS food
Frozen Option
- Opt for frozen meat rather than fresh cuts. It could reduce your bill by up to 50%. Frozen cuts are just as tasty as fresh ones, and as nutritious.
House Brand Advantage
- Buy supermarket house brands and items produced in Singapore and the region. They cost less.
Less Meat, More Veg
- You could substitute meat dishes in your diet with bean and tofu dishes. And eat more vegetables. These are cheaper and healthier.
Buy in Bulk
- Some essential items like rice can be much cheaper when bought in bulk. If the amount is too much for your household, ask the neighbours or your family members to share in the purchase.
MONEY SAVERS managing your money
Pay yourself first
- Save at least 10% of your take home pay each month. You should have an emergency fund equivalent to 3 to 6 months of your take home pay.
Just say No
- The salesman is persistent and you are tempted. The best response is to say “No thanks” and walk away.
Track Expenses
- Jot down in a notebook what you spend your money on. This will allow you to track where the money goes and where you can cut down.
Work out a Budget
- Determine how much you have to spend each week. First subtract your savings from your salary, then your regular expenses, for example, school fees and utility bills. Divide the remainder by four.
At this point, i find it useful to recap on some money saving tips to increase one own savings.
Below is an extract from the free 'Survival Guide' provided by Central Singapore CDC.
HOW TO SLASH YOUR UTILITY BILLS:
Keep them off
- Switch off electrical appliances at the plug point when you are not using them.
Use a Flask
- Switch on your electric airpot only when you need it.
Cool Temperature
- Set the thermostat of your air-conditioner at 25 degrees Celsius, deemed the optimal temperature by experts. Each degree you raise the temperature takes $25 off your bill a year.
Desktop Helper
- Do not keep your computer running if you are not using it.
Four Ticks is Best
- Buy only appliances, like refrigerators and air-conditioners, with energy efficient labels. The more ticks an appliance has, the less energy it uses. The difference in an electricity bill between a four-tick and a one-tick air-conditioner could be as high as $460 a year, and as much as $130 a year when it comes to refrigerators with four ticks.
Better Bulbs
- Use energy saving or compact fluorescent bulbs, and watch your bill drop by $20 a bulb a year.
MONEY SAVERS water
Five-Minute Shower
- Keep your showers short. Turn off water while soaping.
Use a Thimble
- Attach one of these water-saving devices to your taps, especially the ones at the kitchen sink. Thimbles can be bought at kitchen equipment outlets, hardware shops and home improvement stores. To get a free thimble from PUB, National Water Agency, call 1800 284 6600, or send an email to PUBone@singnet.com.sg. Give them your mailing address and they will post a thimble to you.
Bottle Helper
- To reduce the amount of water you flush away, fill a 500ml bottle and put it in your cistern. Make sure the bottle touches the floor of the cistern. But do not let it touch the cistern’s mechanism.
Re-use water
- Don't wash your vegetables under a running tap. Wash them in a basin of water. Then use that water from your washing machine too, to flush the toilet.
MONEY SAVERS food
Frozen Option
- Opt for frozen meat rather than fresh cuts. It could reduce your bill by up to 50%. Frozen cuts are just as tasty as fresh ones, and as nutritious.
House Brand Advantage
- Buy supermarket house brands and items produced in Singapore and the region. They cost less.
Less Meat, More Veg
- You could substitute meat dishes in your diet with bean and tofu dishes. And eat more vegetables. These are cheaper and healthier.
Buy in Bulk
- Some essential items like rice can be much cheaper when bought in bulk. If the amount is too much for your household, ask the neighbours or your family members to share in the purchase.
MONEY SAVERS managing your money
Pay yourself first
- Save at least 10% of your take home pay each month. You should have an emergency fund equivalent to 3 to 6 months of your take home pay.
Just say No
- The salesman is persistent and you are tempted. The best response is to say “No thanks” and walk away.
Track Expenses
- Jot down in a notebook what you spend your money on. This will allow you to track where the money goes and where you can cut down.
Work out a Budget
- Determine how much you have to spend each week. First subtract your savings from your salary, then your regular expenses, for example, school fees and utility bills. Divide the remainder by four.
Sunday, 9 October 2011
What is investing and saving money?
What is saving money?
Saving money refers to putting money aside on a regular basis. You spend below your means and put whatever left behind in the bank. You should have this done automatically after collecting your monthly pay check. Before you have set aside an emergency fund ( normally people advise 6 months of expense), it is advisable that you do not invest.The easiest way to save is to view saving as part of your expenditure. Everyone should save for a rainy day because you never know when you will need the money. Cutting down on your expenses does not mean that you will not be able to enjoy life. The money save can then be channelled to accumulate wealth through investing. Starting on your saving plan can be tough mental and emotional challenge if you have never been saving all this while. However, after you have done it for a period of time, you will find that you actually get a charge out of saving.
What is investing?
Investing refers to once you have set aside the emergency fund, that is when you can begin to invest your money. Investing also means you have money put away for future use. Investing is the smarter way that you begin to really grow your money and begin to build your wealth. You just can't leave it in the banks here. If you keep your saving in a saving account with the bank, the amount of interest you earn may be too small. With inflation, the purchasing power of money will be eroded. When the general price level rises, each unit of currency buys fewer goods and services. However, if you invest in unit trusts, stocks or real estate, your return will probably be higher. In this case, your wealth begins to grow. Investing isn't a rocket science. However, before embark on the journey of investment, get yourself to be financially literate.
In the journey to financial independent, it is important that you spend less than you earn and focus on getting out of debt. If you accumulate debt as fast as you save and invest, then you are not going to come out ahead. Begin budgeting, then you can begin saving and investing.
Saving money refers to putting money aside on a regular basis. You spend below your means and put whatever left behind in the bank. You should have this done automatically after collecting your monthly pay check. Before you have set aside an emergency fund ( normally people advise 6 months of expense), it is advisable that you do not invest.The easiest way to save is to view saving as part of your expenditure. Everyone should save for a rainy day because you never know when you will need the money. Cutting down on your expenses does not mean that you will not be able to enjoy life. The money save can then be channelled to accumulate wealth through investing. Starting on your saving plan can be tough mental and emotional challenge if you have never been saving all this while. However, after you have done it for a period of time, you will find that you actually get a charge out of saving.
What is investing?
Investing refers to once you have set aside the emergency fund, that is when you can begin to invest your money. Investing also means you have money put away for future use. Investing is the smarter way that you begin to really grow your money and begin to build your wealth. You just can't leave it in the banks here. If you keep your saving in a saving account with the bank, the amount of interest you earn may be too small. With inflation, the purchasing power of money will be eroded. When the general price level rises, each unit of currency buys fewer goods and services. However, if you invest in unit trusts, stocks or real estate, your return will probably be higher. In this case, your wealth begins to grow. Investing isn't a rocket science. However, before embark on the journey of investment, get yourself to be financially literate.
In the journey to financial independent, it is important that you spend less than you earn and focus on getting out of debt. If you accumulate debt as fast as you save and invest, then you are not going to come out ahead. Begin budgeting, then you can begin saving and investing.
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