With the Year of the Monkey fast approaching, it’s fair to say that a large portion of the world’s population are likely to be thinking about how they can bring in this Lunar New Year in the most positive way, and how best to be well-prepared.
With the number 8 traditionally symbolising wealth, we thought it fitting to put together a list of 8 steps that will help bring wealth and fortune in the new year, and make 2016’s Year of the Monkey your wealthiest year yet.
(1) Use an online service that organises your finances
It’s important to consistently live within your means so that you can then begin really saving. Sophisticated online programs such as Money Dance not only ensure that you stay out of the red by keeping note of everything that goes in and out of your accounts (and notifying you if you’re approaching limits), but it also pays bills for you automatically so you’ll never receive late payment charges.
Money Dance also has a nifty function for monitoring your stocks and bonds and any other investments you might have, giving you a clear overview of where you money is being invested and how it’s growing.
(2) Sell unwanted items on Carousell:
As the saying goes – one man’s trash is another man’s treasure! Social commerce startup Carousell is taking Singapore by storm, as a smartphone app for buying and selling within communities that involves a whole lot of socialising in the process. This also makes the service more reliable, as sellers are keen to get positive ratings and to have a good reputation amongst other Carousell users in the hope that making money from this service becomes continually easier over time. Play this game right, and you could be making some serious cash in 2016!
Read Also: 6 Types Of Items You Should Buy On Carousell
(3) Start A Blog
Starting a blog has never been easier! Buying a .com or .sg domain name will cost you very little (around S$10 per month – check out this page for web domain discount codes) and there are so many services around to make building your own site/blog as easy as a walk in the park (check out squarespace, for example, for a really neat site builder that is easy to use). Once your site is up and running, you can start earning cash quickly through the likes of ad hosting, doing paid reviews and advertorials.
Read Also: Is Blogging A Real Job In Singapore?
(4) Make your money grow in the bank
It’s one thing to work hard at managing and saving the money you earn, but what about watching your money grow in your bank account? Creating the best situation for your money to grow is crucial; otherwise you might unknowingly be in fact losing money in the process of saving.
For example, if the interest you earn from your bank deposits is only 1%, while inflation is at a rate of 3%, this means you’re effectively losing out on 2% every year! Take care to assess exactly where you keep your money, what interest rates you are getting and the inflation rates to ensure you’re not losing out.
(5) Increase your employee worth
One way to secure a pay raise this year is to take a course that will supplement your role. This will not only make yourself more valuable as an employee, but it will also make you more attractive to other potential employers, meaning the likelihood of receiving a raise should be higher as your current employer strives to keep you. There are hundreds of part-time courses/ night courses for adults all over Singapore, and you can browse many of them here.
(6) Use coupon codes and cashback sites
Save on online purchases and earn cash as you shop. Start the Lunar New Year on the right foot by making your online purchases through couponing sites. Flipit Singapore’s Chinese New Year specials page features a whole host of exclusive codes to ensure you get the best price online. By making your transactions either with a credit card that offers cashback, or simply shopping via a cashback website, you’ll actually earn money while you shop.
(7) Are you creative? Cash in on your creativity!
Gumroad is a platform that allows creative people to showcase their work and sell it online – be it a song or jingle, a design, a book or a piece of software. The Gumroad user community assess and decide on the price your work should be sold at, and Gumroad take 5% commission – if you’re a creative person who enjoys taking part in this stuff in your spare time, this option is ideal.
(8) What does wealth really means
Last but certainly not least, be mindful about what wealth really means to you. Wealth is not always bound with money, but can also be about success, happiness, good health and fortune. With the new lunar year approaching, it’s the perfect opportunity to take time to reflect on what is important to you, and what changes you’d like to make happen in the year of the monkey!
Read Also: Why Making Money Should Not Be A Life Goal
Katie Paterson is a Researcher for global money-saving platform, Flipit.com. Analysing digital advertising and marketing trends in Asia and Oceania, Katie works with a strong focus on social network, e-commerce and m-commerce trends. Originally hailing from Scotland, she spent the last three years living, working and completing a Research Master’s in Amsterdam, The Netherlands. She has published topics associated with global e-commerce trends, consumer behaviour, and the future of shopping.