5 Ways to Save Money on Your Airbnb Booking

Airbnb is great for budget holidays outside Singapore until the unexpected costs come creeping in. Airbnb is a lifesaver when it comes to budget holidays. With hotels charging typically S$200+ per night or more in major cities, most of us can’t afford longer stays if not for renting. And if you’re racking up miles, there are a number of air miles credit cards that will give you points for making Airbnb bookings. Stay in an Airbnb apartment a one or two week often enough, and those points might mean a free flight ticket to a whole other location. All that aside, do watch out for some unexpected costs. Keep these under control and Airbnb will be an extraordinary budget tool for vacations:

1. Huge Transport Costs from Not Checking the Address

Even if the landlord doesn’t disclose the exact address, be sure to ask for a few local landmarks or the name of the neighbourhood. Remember that in large cities, you can rack up monstrous transport costs if you’re staying in a far-flung corner of the city. If you’re staying New York for example, there’s no point finding a cheap rental unit in the Bronx at S$90 a night, and then realising you need to waste an hour on a train ride or pay S$12+ for a cab to central Manhattan. Over a week, you’ll spend as much as you would on a more central apartment, and lose time besides. A simple way around this is to ask the host how much it costs to get to different places from the residence you’re staying in.

2. No Wi-Fi

If you’re on a working trip and you need the Internet to function, be sure to clarify that your host has wi-fi access. Otherwise, you will be spending a lot of money at cafes with wi-fi (you need to buy endless cups of coffee to justify sitting there), or probably over S$100 to get a prepaid, unlimited data plan. That’s assuming such an option exists wherever you’re going.

3. Cash Deposits

Some landlords will set a cash deposit as a term. As far as possible, avoid these people. Find someone else to rent from, unless you are truly desperate and don’t mind the possibility of never seeing the deposit again. Putting down a cash deposit means you have to leave when the landlord is around, to get your deposit back. If you leave and later try to get your deposit by mail or wire, good luck; you’re dependent on the good nature of the landlord. Some landlords will also make up excuses to deduct from your deposit, by citing “damages” or “losses”. The amount of the deposit and the involvement of a foreign jurisdiction will make it hard for you to fight for the money back.

4. An Absent Host

A lot of unexpected costs creep up when the host is absent. For example, what if you’re in London in December (i.e. in winter) and the heater system breaks? Or what if, due to theft or absent-mindedness, you misplace the keys and the host is far away in Hong Kong? These little accidents can cost hundreds or thousands of dollars, as they typically mean you will end up in a hotel. So if you can get used to the company, go for a hosted apartment.

5. Water, Toilet Paper, and Other Critical Amenities

Some Airbnb units come to you completely bare: no water (in some countries bottled water may be a necessity), no toilet paper, no food in the fridge, etc. If you are used to hotels, this may catch you off-guard; and your first night will be spent buying toiletries, stocking the fridge, and other essentials. Factor the cost of these into your trip, when comparing prices. If you really hate wasting time and money on these things, and the price difference is not too great, a cheap hotel may be better.

 [This article was kindly provided by SingSaver.com.sg]

Holidays and Travel Insurance

The first two months of 2014 are already past.  And it seems like the school March holidays are almost here again.  How fast a term flies!  Most people are probably gearing up for short holidays here and there before the June holidays.

However, the haze is back in Indonesia and Malaysia.  Who knows when it might hit Singapore (another good reason to start planning a holiday especially if the haze situation worsens).  Most people are avoiding Bangkok due to the ongoing political unrest there.  So that leaves quite few options for those who just want a short getaway.

On a related note, I realised that I have been very inconsistent in the purchasing of travel insurance.  There are times when I purchase travel insurance when I go for holidays and there are also times when I do not.

So I would like to hear your thoughts:

• Given the current situation (haze, political unrest, etc) in neighbouring countries, where is good place to go travelling (not too far away from Singapore)?
• Do you usually buy travel insurance?  If so which is the best plan around?

How to Manage Your Money When Working Overseas

Working overseas can be an excellent opportunity for just about anyone. Not only to learn about new cultures and new ideas. Working overseas can also give the employee significant tax benefits. With the internet, it has become much easier to manage personal finances from overseas. It is essential to properly setup the management of your money while working overseas. Here, are 5 tips on how to manage your money while working overseas.

Local Bank Account

When working overseas, it is essential to have a local bank account. This can be a bank that with headquarters in their country, or a bank with an international presence. Many people rely on direct deposit to get their paychecks, therefore, thinking they do not need an account. If any problems arise or a human is needed, having a local bank will be beneficial.

Foreign Transaction Fees. There are a few credit cards that do not charge a foreign transaction fee. A foreign transaction fee is charged by most credit card companies when a card is used overseas. The typical charge is 3 percent, which can add up quickly. Luckily, there are a handful of credit card companies that offer a card that does not add a foreign transaction fee. This will be a tremendous money saver in the long run.

Online. Every bank or credit card has a website. When working overseas, it is essential to sign up for online bill pay services. This makes paying credit cards and other bills online remarkably easy. Sign up for electronic statements, they will be emailed directly. They are just like any other statement you would receive in the mail. Another great benefit of online services is the ability to communicate. One can log into their credit card account and easily message a representative, since calling may be difficult.

Second Bank Account. Keep a bank account in the United States open, this is a terrific way to transfer money. Western Union and other wire places charge massive fees. There are a lot of banks that allow a bank to bank transfer for free. It would be extremely easy to have a relative or friend deposit money into your account, then initiate a free transfer. The transfers can go both ways, so in addition, the money can be sent home.

Inform them. When going overseas, inform the banks and credit card companies. If a credit card or ATM card is suddenly used in a different location, it may be declined. Many card companies have fraud alerts in place, for example, when someone uses a card 5,000 miles from home. A simple call to the credit card company will help prevent them from freezing the account. It is much easier to do it before leaving, but can be done during the trip if needed.

Working overseas can be an exciting and life changing experience. It is crucial to prepare your finances for your day to day life. Ones financial life and dealings back home should not be neglected either. With the internet, it has become extremely straightforward to manage finances while overseas.

Fran Childers writes about finance, travel & more at http://www.homeinsurance.org.

How Much To Get Married

A common topic amongst my single friends is the amount of money that they require to get married. Many of them lament that it will cost them a bomb to get married. Big ticket items include paying for the house (cash over valuation), renovation, holding a wedding lunch/dinner @ a hotel, buying the engagement ring and of course other miscellaneous expenses. Some of them reckon that they need as much as $50k and above to get married in Singapore!

Surely there must be a cheaper way to get married in Singapore and still enjoy the perks of all the above. Let's do a rough breakdown of the expenses and perhaps in my next few posts, I can touch on how one might save up on each of the big ticket items.

As mentioned above, the big ticket items are as follows and estimated costs are also shown:

1. Buying a HDB flat (Cash over valuation) = $20-$50k (Rest is usually paid by CPF)
2. Renovation = $20 to $40K
3. Wedding dinner/lunch = $20k to $30k (depends on hotel and no. of tables)
4. Engagement ring = $1k to $10k (depends on the depth of the guy's wallet)
5. Photography + Wedding gown/suit = $1k to $5k
6. Miscellaneous lunches, hongbaos = $1k to $2k
7. Honeymoon = $500 to $10k (depending on where and when you travel)

Anything else to add to the list?

Sagrada Familia at Barcelona

I read the news recently about the Sagrada Familia in Barcelona being restored and how the first mass is going to be conducted there. I remember travelling to Barcelona sometime back and took some pictures of the Sagrada Familia. It is really an impressive looking building. Too bad the pictures I took had all these hovering cranes around the building as they were still working at restoring it.

#1 Crazy Thing I Did in My Life

Getting drunk in Russia.

Okay, not really drunk but tipsy on vodka. Some of my friends got real drunk though.

That's not me in the picture. That's one of my friends dead drunk in St Petersburg from all the cheap vodka he could get his hands on.

I have lost contact with all the people I spent my time with in Russia. During then, we exchanged contacts on ICQ but when we stopped using ICQ, we gradually lost touch.

Travelling and Reading Broadens My Horizons

If there are two things that adds to my learning, I would safely say that it is travelling and reading.

Travelling brings me to new places, allows me to see new sights, experience different cultures, face unique situations, taste new food, feel differently about home and lots more. It engages my five senses and makes me more aware of my surroundings.

During travel, there are also lots of stories to tell. One's experiences during travel are perhaps richer when compared to the mundane day to day living in Singapore.

Of course, one could learn as much in Singapore but sometimes this makes it difficult as we are just not as receptive to learning as when we are overseas.

Reading is another good platform for learning.

Through reading, we can learn from the experiences and knowledge of other people. People have poured in effort in the writing of their books, articles and blogs.

This allows us to learn from their experiences, shorten our own learning curve and avoid the common mistakes that are made in lives.

Together, they allow us to see the world differently. We become more aware of our limitations and who we really are.

The process of discovering how little we know about this world is indeed a refreshing idea.

A book in one hand while travelling the world is one of my dreams.