DollarsAndSense.sg looks at some ways you can blow your money sensibly in 2015!
We believe that buying is necessary. It makes the world go round, keeps people happy, and enriches your abilities either through the acquisition of superior haggling skills, or gaining a competency through a professional course.
So, in 2015, we recommend fifteen purchases that are at the top of our shopping list. And please don’t buy everything that is listed down here. Just go through a handful that provides you with the greatest satisfaction, delivers the most value, and still keeps you in a position to buy food and pay your bills.
The consumer product option
1. A Smartwatch
Many people might not know this, but smartwatches have been around since the early 1980s. In the recent years however, they have come into their own in the market, offering a variety of functions and coming in diverse forms that range from sleek to sporty. People are opening up to the idea of owning a smartwatch, and 2015 looks to be the year for them to finally join the ranks of the early adopters.
Beer is a great way to socialize and build your personal network. Sure, a university degree might get you a crappy job, but networking can get you a high-paying crappy job. And I’m not even going to mention the number of people from the opposite sex that you’ll meet along the way – one of them might just end up being your spouse. Think we can sell this idea to the government to reduce sin tax instead of increasing it?
3. Nice clothes/ A tailored outfit
Without a doubt, wherever you may be, you’re going to be judged based on your appearance. It could be at your job interview, a date with that pretty girl you have the hots for, or just taking a stroll down Orchard Road. Good fitting clothes will definitely influence our success in all of the above-mentioned scenarios. You will feel good, look good and be confident. Just do well to remember this though− even the tightest black dress or sleekest Italian suit will never make up for a lack of character or a lousy personality.
4. A good pair of shoes
Building on the theme of looking good and feeling confident in what you wear, having a good pair of shoes will also lend weight to complete that look. A good pair of shoes will also come in handy should you choose to walk home just a few blocks away/ to a meeting/ to lunch instead of taking a taxi or bus or brooding up in your office building. This helps promote a slightly healthier and active lifestyle!
5. Bed/ Bed cover
You sleep eight hours a day – that translates to nearly a third of your life spent on your bed. I think this is enough justification to buy a good one.
The investment option
6. TOTO ticket
A TOTO ticket can worth as much as $10 million. And while you may have better chances finding yourself fighting a shark in a sea of deadly jellyfish, this is still a worthy investment. For as little as $1, you could end up walking away with $10 million.
This purchase could be explored in two ways. Firstly, get a credit card and start buying with it. Depending on the card you get, with each purchase made, you might receive some form of incentive ranging from points to claim on a future purchase, air miles, discounts and freebies. So, buying with your credit card is kind of great.
On the flip side, you should buy off any credit card debt you currently have. Credit cards, when used wrongly, are one of the most potent destroyers of personal wealth. Late payment fees, late payment interest charges (somewhere at 24%) and a myriad of other charges will deplete your wealth before you can say, “I want financial freedom”.
Insurance is one of the most crucial things a person needs to buy in his or her life. It probably ranks fourth, after food, clothing and shelter. It’s quite astounding that Singapore is one of the most under-insured developed societies (we’ve covered this here). Insurance will allow you to mitigate the extraordinary costs of falling ill or getting into an accident, and also give you the peace of mind that the bills will be covered and your family’s future is secure.
Much in the same vein that the government is championing productivity growth in Singapore, we want you to champion personal growth. Take up a new language, learn a computing skill like data analytics, graphic designing or software coding, go for piano lessons or do a new sport. We think it’s a great way to feel reinvigorated after a stressful period in your life.
10. Something used
Buying secondhand items is the way to go. There are so many new portals to sell your used products that range from books to electronics to clothing. It saves money, reduces resource strains on the planet and people, and delivers the same effect. I don’t know why we haven’t been doing this more.
The finer-things- in-life option
11. Quality over quantity
Sometimes it just makes sense to go with the more expensive option. One of our writers was deciding between a $200 pair of shoes from a named brand and a $25 pair of shoes from a knock-off store in the heartlands. He went with the $200 pair and, more than two years later, it’s still good as new. Would the $25 pair of shoe work just as well? We don’t know, but we think that $200 pair was worth every penny it costs.
12. Water Jetpack
If you have $68,500 in spare cash lying around, then this is just the product you want. It’s super cool and will impress everyone – us included! And even with a few bucks short, maybe you should consider buying it all the same…perhaps with a 24% loan on your credit card or something….
13. Holiday/ Hobby
This is a great way to reward yourself after all that stress and tension at work. You should go on a holiday, experience new cultures, broaden your horizons and meet new people. This can also be achieved with a hobby. This activity not only reboots your system, but also gives you fresh perspectives. Of course, if you bring a loved one along on this journey, while it may double the expenses, it also doubles your enjoyment.
Time is money. If you could, would you buy time? 100% of humanity would probably say yes. If so, this train of thought has now trapped you with the idea of sending your clothes to the laundry store or taking the taxi to work several times a week. Because these activities save you time you would have spent doing it yourself, and you can now spend it with your loved ones or on anything you wish.
Once in a while, it feels right to be pampered after working so hard at work. Maybe a day at the spa, or a $230 pair of soccer boots with your name and number printed on it…whatever rocks your boat.
We do not expect you to buy all fifteen items. Spend on a few that mean more to you than others. Cheers and here’s wishing you a Happy New Year!
This article first appear on Mothership.sg