Showing posts with label savings more than $100. Show all posts
Lifehacksg#25 - $1 fitness classes
[savings type - $$; >$200 over 8 weeks ]
New year, new resolutions! Our first lifehack of the year focuses on one of the most popular new year resolutions - staying healthy! We hope that this is on your list, because today's lifehack is going to blow your mind about how you can attempt to lose weight for $1 per fitness class, and potentially get a positive financial return at the end of the program.
Did we say they will pay you to lose weight? Yes!
Fit to Win is Singapore's first social weight loss challenge where participants are incentivized to lose weight via a financial reward system. Here's how it works:
1. Players begin by placing a bet of $20 into a general money pot.
2. Everyone who loses 5% or more of their starting weight over the course of eight weeks gets to split the pot equally.
3. The top three players who loses the highest percentage of their starting weight will be further rewarded with prizes worth up to $3000.
In case you're wondering where the $1 fitness class is sitting in all this, read on.
Besides creating an innovative concept of providing a platform for like-minded Singaporeans to lose weight together, the challenge also provides an 8-week fitness program for every participant who signs up. What this means is that upon registration, you will gain free access to a list of fitness classes including Zumba, Kickboxing, Pilates, Capoeira etc. conducted by the associated fitness partners. Well, how do the numbers look?
$20 bet + $5 registration fee = $25
3 free fitness class credits per week x 8 weeks = 24 credits
Effective cost = ~$1/fitness class
Assuming an average fitness class out there sets you back ~$10/session, you're looking at more than $200 of savings over an 8 week period.
Now we know that the program is enticing because you have the potential to win some money from the pot; but think about it, even if you miss the 5% mark, you're effectively signing up for a 2 month fitness program at a dollar per class.
Lifehacked.
So, happy 2014 to you all from Lifehacksg! Stay fit, healthy and win some money!
p.s. share some winnings with us will you?
Did we say they will pay you to lose weight? Yes!
Fit to Win is Singapore's first social weight loss challenge where participants are incentivized to lose weight via a financial reward system. Here's how it works:
1. Players begin by placing a bet of $20 into a general money pot.
2. Everyone who loses 5% or more of their starting weight over the course of eight weeks gets to split the pot equally.
3. The top three players who loses the highest percentage of their starting weight will be further rewarded with prizes worth up to $3000.
In case you're wondering where the $1 fitness class is sitting in all this, read on.
Besides creating an innovative concept of providing a platform for like-minded Singaporeans to lose weight together, the challenge also provides an 8-week fitness program for every participant who signs up. What this means is that upon registration, you will gain free access to a list of fitness classes including Zumba, Kickboxing, Pilates, Capoeira etc. conducted by the associated fitness partners. Well, how do the numbers look?
$20 bet + $5 registration fee = $25
3 free fitness class credits per week x 8 weeks = 24 credits
Effective cost = ~$1/fitness class
Assuming an average fitness class out there sets you back ~$10/session, you're looking at more than $200 of savings over an 8 week period.
Now we know that the program is enticing because you have the potential to win some money from the pot; but think about it, even if you miss the 5% mark, you're effectively signing up for a 2 month fitness program at a dollar per class.
Lifehacked.
So, happy 2014 to you all from Lifehacksg! Stay fit, healthy and win some money!
p.s. share some winnings with us will you?
Lifehacksg#22 - $100 roundtrip ticket on Tigerair
[savings type - $$; one-off at >$200]
At Lifehacksg, we’re big fans of Standard Chartered Bank (No unfortunately this is not a sponsored advertisement, guys). When we first heard of this new deal, we couldn't hide our excitement. They have reached a new height of dominating the credit card market share with this clever maneuver, dangling the most sought-after carrot to an island of consumers who take their globetrotting rights very seriously.
Jumping on the bandwagon of attractive packages by low-cost carriers, Standard Chartered is one of the first banks to launch a co-branded card with a budget airline. The Tigerair Platinum Credit Card basically rewards you with flights upon usage. In the Upfront Rewards plan, you will be awarded a one-way ticket upfront upon card approval, and you have the next 12 months to accumulate $5000 spend on the card to fulfill the expenditure requirement. If you fail to fulfill the spend requirement or terminate the plan before fulfilling the spend requirement, Standard Chartered will charge you a $100 penalty.
As part of the introductory offer, you get an additional one-way ticket if you sign up for the card before 31 January 2014. This means that with the Upfront Rewards plan, you will receive two e-vouchers to redeem one return flight. Here's the lifehack - sign up for the card, redeem your return flight, and immediately terminate the plan. You will have to pay the $100 penalty, but that basically covers the cost of your return ticket.
Each e-voucher is valid for 12 months from the date of issue and can be used to make any flight reservation for a one-way Tigerair journey, inclusive of taxes and charges, departing from Singapore to any one of the following 11 destinations – Bangkok, Hat Yai, Ho Chi Minh, Jakarta, Krabi, Kuala Lumpur, Medan, Pekanbaru, Penang, Phuket and Surabaya.
While a location like Kuala Lumpur may not seem worth the $100, think about Bangkok, where it may cost you north of $300 for a return ticket during non-sale periods. Save that $200 and take it on a 5000 Thai Baht shopping spree in Chatuchak weekend market. We think it's worth it. What about you?
At Lifehacksg, we’re big fans of Standard Chartered Bank (No unfortunately this is not a sponsored advertisement, guys). When we first heard of this new deal, we couldn't hide our excitement. They have reached a new height of dominating the credit card market share with this clever maneuver, dangling the most sought-after carrot to an island of consumers who take their globetrotting rights very seriously.
Jumping on the bandwagon of attractive packages by low-cost carriers, Standard Chartered is one of the first banks to launch a co-branded card with a budget airline. The Tigerair Platinum Credit Card basically rewards you with flights upon usage. In the Upfront Rewards plan, you will be awarded a one-way ticket upfront upon card approval, and you have the next 12 months to accumulate $5000 spend on the card to fulfill the expenditure requirement. If you fail to fulfill the spend requirement or terminate the plan before fulfilling the spend requirement, Standard Chartered will charge you a $100 penalty.
As part of the introductory offer, you get an additional one-way ticket if you sign up for the card before 31 January 2014. This means that with the Upfront Rewards plan, you will receive two e-vouchers to redeem one return flight. Here's the lifehack - sign up for the card, redeem your return flight, and immediately terminate the plan. You will have to pay the $100 penalty, but that basically covers the cost of your return ticket.
Each e-voucher is valid for 12 months from the date of issue and can be used to make any flight reservation for a one-way Tigerair journey, inclusive of taxes and charges, departing from Singapore to any one of the following 11 destinations – Bangkok, Hat Yai, Ho Chi Minh, Jakarta, Krabi, Kuala Lumpur, Medan, Pekanbaru, Penang, Phuket and Surabaya.
While a location like Kuala Lumpur may not seem worth the $100, think about Bangkok, where it may cost you north of $300 for a return ticket during non-sale periods. Save that $200 and take it on a 5000 Thai Baht shopping spree in Chatuchak weekend market. We think it's worth it. What about you?
Lifehacksg#15 - $6 Grooming
[savings type-$$; Annual - $120]
I am going to be conservative here and assume that an average haircut will set you back around $16. I know there are folks out there who opt for haircuts in the $30-60 range, but whatever, if you're reading this blog anyway I don't suppose you belong to that category. I may be mistaken.
Today's lifehack presents a little secret tucked in the corner of Funan IT Mall - Kimage Academy Hairdressing School. At the Academy, students pay to go through a professional course certifying them as qualified hairstylists. To earn credits towards graduation, they need to undergo practical training sessions and this is where you come in - to become their models.
Now before you freak out, we're not talking about new students figuring out how to use a pair of scissors; the Academy is actually filled with advanced students and qualified stylists who go back for refresher or additional courses. For the past few times that lifehacksg visited, the stylists had more than 6 months experience at the Academy.
More importantly, instructors on scene always ensure that students give a good haircut to the customers. The instructor to student ratio hovers around 1:4, and they are constantly reviewing and teaching their students the best techniques to approach the haircut. After the student completes the haircut, the instructor will also ensure that the haircut is up to standard by personally making alternations if he/she deems necessary.
At the end of the day, a salon-style cut plus wash at a convenient location downtown at Kimage Academy will set you back a good $6. Yes. Six dollars. This applies for both males and females alike. In fact, for females looking to get additional services like hair treatment, hair coloring etc. done, prices there are really cheap because you'll only be charged for the cost of the treatment/color product.
Assuming a regular male haircut at $16 once per month, we're looking at potential savings ($10 x 12) of more than $100 over a year via this lifehack! I didn't attempt to make estimates for females because, well, some females cut their hair just 1-2 times a year? One thing to note: walk-ins are welcome but it will be best to call ahead to book and reserve a spot.
p.s. possible downsides include an extended haircut time which could take up to 90minutes for males and 120mins for females.
I am going to be conservative here and assume that an average haircut will set you back around $16. I know there are folks out there who opt for haircuts in the $30-60 range, but whatever, if you're reading this blog anyway I don't suppose you belong to that category. I may be mistaken.
Today's lifehack presents a little secret tucked in the corner of Funan IT Mall - Kimage Academy Hairdressing School. At the Academy, students pay to go through a professional course certifying them as qualified hairstylists. To earn credits towards graduation, they need to undergo practical training sessions and this is where you come in - to become their models.
Now before you freak out, we're not talking about new students figuring out how to use a pair of scissors; the Academy is actually filled with advanced students and qualified stylists who go back for refresher or additional courses. For the past few times that lifehacksg visited, the stylists had more than 6 months experience at the Academy.
More importantly, instructors on scene always ensure that students give a good haircut to the customers. The instructor to student ratio hovers around 1:4, and they are constantly reviewing and teaching their students the best techniques to approach the haircut. After the student completes the haircut, the instructor will also ensure that the haircut is up to standard by personally making alternations if he/she deems necessary.
At the end of the day, a salon-style cut plus wash at a convenient location downtown at Kimage Academy will set you back a good $6. Yes. Six dollars. This applies for both males and females alike. In fact, for females looking to get additional services like hair treatment, hair coloring etc. done, prices there are really cheap because you'll only be charged for the cost of the treatment/color product.
Assuming a regular male haircut at $16 once per month, we're looking at potential savings ($10 x 12) of more than $100 over a year via this lifehack! I didn't attempt to make estimates for females because, well, some females cut their hair just 1-2 times a year? One thing to note: walk-ins are welcome but it will be best to call ahead to book and reserve a spot.
p.s. possible downsides include an extended haircut time which could take up to 90minutes for males and 120mins for females.
Lifehacksg#11 - Getting a guaranteed 6.67% annualized rate of return
[savings type: $$; 6.67% P.A. ROI]
Alright guys, this is not an investment scam. It has nothing to do with insurance, funds or bonds. A follow-up post to our "there is a free lunch" lifehack, we present to you Lifehacksg#11 - getting a guaranteed 6.67% return on investment.
Standard Chartered Bank recently launched a new consumer product called the Bonus$aver account. Now there is a bunch of further details about how it works and benefits you (ie. 1.88% on up to $25,000 of your savings if you charge >$500 to your Bonus$aver credit card monthly, they are giving you a gold ingot for a deposit of more than $50,000 etc...), but Lifehacksg wants you to turn your focus away from all that hoo-hah and look at one specific feature.
By setting up and depositing any amount* into the account today, the bank is giving you $100. Yes, $100 into the credit card for any expenditure at all. Let's take a look at the * fine print - the reason why they define it as "any amount" is because until the end of June, they have waived the requirement for a minimum daily balance of $3000.
Now let's assume that you have to keep the minimum balance of $3000 in your Bonus$aver account. Ultimately, what you're getting is a $100 "interest return" for depositing $3000 with them. Furthermore, because you can close the account 6 months later, you're effectively locking up $3000 for a $3100 return - bringing your total annualized risk-free R.O.I. to 6.67%.
So there you go! Set up the account, deposit $3000 into it, and set a reminder to close the account and withdraw your money 6 months later. Of course, enjoy that $100. No need to thank us :D
Now, if you're only so kind to spread the word around with your friends by sharing this page!
Alright guys, this is not an investment scam. It has nothing to do with insurance, funds or bonds. A follow-up post to our "there is a free lunch" lifehack, we present to you Lifehacksg#11 - getting a guaranteed 6.67% return on investment.
Standard Chartered Bank recently launched a new consumer product called the Bonus$aver account. Now there is a bunch of further details about how it works and benefits you (ie. 1.88% on up to $25,000 of your savings if you charge >$500 to your Bonus$aver credit card monthly, they are giving you a gold ingot for a deposit of more than $50,000 etc...), but Lifehacksg wants you to turn your focus away from all that hoo-hah and look at one specific feature.
By setting up and depositing any amount* into the account today, the bank is giving you $100. Yes, $100 into the credit card for any expenditure at all. Let's take a look at the * fine print - the reason why they define it as "any amount" is because until the end of June, they have waived the requirement for a minimum daily balance of $3000.
Now let's assume that you have to keep the minimum balance of $3000 in your Bonus$aver account. Ultimately, what you're getting is a $100 "interest return" for depositing $3000 with them. Furthermore, because you can close the account 6 months later, you're effectively locking up $3000 for a $3100 return - bringing your total annualized risk-free R.O.I. to 6.67%.
So there you go! Set up the account, deposit $3000 into it, and set a reminder to close the account and withdraw your money 6 months later. Of course, enjoy that $100. No need to thank us :D
Now, if you're only so kind to spread the word around with your friends by sharing this page!
Lifehacksg#10 - There is a free lunch (Best Regards, Standard Chartered)
[savings type - $$; up to +$160 credit]
To quote Milton Friedman - "... there is no such thing as a free lunch." Today, Lifehacksg#10 presents our very own quote
I was surprised that most people don't know about Standard Chartered Bank's recent campaigns. We'd like to call them - "get in your pants" campaign.
What the bank is trying to do is to literally "get in your pants" (through your wallets) by enticing consumers to sign up for credit cards with them. To do this, the bank is actually giving you money to sign up for their cards. For a limited time only, consumers get a $80 credit into your account once the principal card is activated. You have until 30th June 2013 to take action.
The $80 cashback is applicable for the first 2 principal credit cards, which brings the total amount they will put in your wallet to $160. Yup, $160 worth of free lunches. You have 6 months to use this credit, after which it will be forfeited.
In case you are wondering, it is TRUE. This is the extent which banks will go to just to "get in your pants".
Just remember, if you really don't wish to use their cards after you reap the $160 benefits, just set a reminder in your calendar to cancel the card 6 months later.
All's good.
To quote Milton Friedman - "... there is no such thing as a free lunch." Today, Lifehacksg#10 presents our very own quote
"...hell yeah, we found you some free lunch."
I was surprised that most people don't know about Standard Chartered Bank's recent campaigns. We'd like to call them - "get in your pants" campaign.
What the bank is trying to do is to literally "get in your pants" (through your wallets) by enticing consumers to sign up for credit cards with them. To do this, the bank is actually giving you money to sign up for their cards. For a limited time only, consumers get a $80 credit into your account once the principal card is activated. You have until 30th June 2013 to take action.
The $80 cashback is applicable for the first 2 principal credit cards, which brings the total amount they will put in your wallet to $160. Yup, $160 worth of free lunches. You have 6 months to use this credit, after which it will be forfeited.
In case you are wondering, it is TRUE. This is the extent which banks will go to just to "get in your pants".
Just remember, if you really don't wish to use their cards after you reap the $160 benefits, just set a reminder in your calendar to cancel the card 6 months later.
All's good.
Lifehacksg#7 - Squeezing out more budget from your budget flights
[Savings type- $$; Annual - $144]
More travel hacks for the travel-junkies out there! Specifically, for budget flights out of Singapore - we're talking about Jetstar, Air Asia and Tiger Airways.
Who doesn't love a weekend get-away, or a short trip that makes use of the wonderful Singapore "long weekend" benefits when public holidays lie just before or after a weekend? I know Singapore is a pretty awesome city with loads of stuff going on, but if you haven't, I highly recommend that you jump on a budget flight to explore this amazing region of Southeast Asia.
Today, budget flight tickets to the region are mostly available online and they've made it so easy for consumers to purchase tickets. A mini #lifehacksg here - don't forget to sign up for things like Jetstar's Jetmail where they send you regular updates for their Friday Fare Frenzy deals; I've personally gotten some ridiculously low ticket prices which can only be achieved otherwise via a.... paddle-boat of sorts.
Navigating a budget airline's checkout process is tricky, mostly because of their add-on features. While the ticket may be cheap, budget airlines make a ton of margin off features like extra baggage, food, insurance etc. To increase their chances of having you pay more, these options are often a "opt-out" feature; that is, you literally have to check NO such that they don't charge you for these extras. I say, go for the barebones package.
Towards the end of the checkout process, most airlines slap on this thing called a "convenience/processing fee", which is presumably used to cover the administrative costs of processing the transaction with the credit card companies. Fair enough, but at close to 5-10% of a ticket cost, that seems way more than what the credit card transaction fee will cost. Anyway, this is unnecessary money that should be stripped away.
Convenience fees (return):
Tiger Airways - $18
Air Asia - $16
Jetstar - $16
To avoid this cost, #lifehacksg suggests to go with.... Jetstar! They have made an offline payment option available. Effectively, after you click "purchase", you have 48 hours to make this payment at any Singpost/SAM machines. Viola! Using Tiger Airways as a benchmark, at $18 per return ticket, assuming you make up to 4 budget trips a year as a couple, we're looking at saving $144 per year! Now, money aside, further thoughts about this system reveals a SECOND lifehack...
With the offline payment function, what you're effectively doing is making a reservation at NO COST, with a 48 hour period to make a call on your buy-option. So while you're price searching, go ahead and secure a Jetstar price (through the "reservation") while you continue to figure out the best deals. What one could use it for is also to secure tickets for a group of people, and then go seek their consensus on whether the trip should happen. I've personally used it a few times and it's just great!
Alright, another travel tip to the bucket of lifehacks in Singapore!
More travel hacks for the travel-junkies out there! Specifically, for budget flights out of Singapore - we're talking about Jetstar, Air Asia and Tiger Airways.
Who doesn't love a weekend get-away, or a short trip that makes use of the wonderful Singapore "long weekend" benefits when public holidays lie just before or after a weekend? I know Singapore is a pretty awesome city with loads of stuff going on, but if you haven't, I highly recommend that you jump on a budget flight to explore this amazing region of Southeast Asia.
Today, budget flight tickets to the region are mostly available online and they've made it so easy for consumers to purchase tickets. A mini #lifehacksg here - don't forget to sign up for things like Jetstar's Jetmail where they send you regular updates for their Friday Fare Frenzy deals; I've personally gotten some ridiculously low ticket prices which can only be achieved otherwise via a.... paddle-boat of sorts.
Navigating a budget airline's checkout process is tricky, mostly because of their add-on features. While the ticket may be cheap, budget airlines make a ton of margin off features like extra baggage, food, insurance etc. To increase their chances of having you pay more, these options are often a "opt-out" feature; that is, you literally have to check NO such that they don't charge you for these extras. I say, go for the barebones package.
Towards the end of the checkout process, most airlines slap on this thing called a "convenience/processing fee", which is presumably used to cover the administrative costs of processing the transaction with the credit card companies. Fair enough, but at close to 5-10% of a ticket cost, that seems way more than what the credit card transaction fee will cost. Anyway, this is unnecessary money that should be stripped away.
Convenience fees (return):
Tiger Airways - $18
Air Asia - $16
Jetstar - $16
To avoid this cost, #lifehacksg suggests to go with.... Jetstar! They have made an offline payment option available. Effectively, after you click "purchase", you have 48 hours to make this payment at any Singpost/SAM machines. Viola! Using Tiger Airways as a benchmark, at $18 per return ticket, assuming you make up to 4 budget trips a year as a couple, we're looking at saving $144 per year! Now, money aside, further thoughts about this system reveals a SECOND lifehack...
With the offline payment function, what you're effectively doing is making a reservation at NO COST, with a 48 hour period to make a call on your buy-option. So while you're price searching, go ahead and secure a Jetstar price (through the "reservation") while you continue to figure out the best deals. What one could use it for is also to secure tickets for a group of people, and then go seek their consensus on whether the trip should happen. I've personally used it a few times and it's just great!
Alright, another travel tip to the bucket of lifehacks in Singapore!
Lifehacksg#5 - Free film screenings
[Savings type - $$; Annual - $288]
This lifehack lobang is a classic, and one of my favorites in Singapore.
I remember watching movies for $5 when I was little. Today, weekend movie tickets cost up to $12! I guess most people have turned to torrents as an alternative...
Well, Lifehacksg#5 presents - free regular films in Singapore!
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The Arts House is Singapore's premier literary arts space located at the old parliament house, Singapore's oldest surviving government building. For those of you who don't know, there are regular film screenings at the Arts House covering a wide genre of films. Typically, they screen foreign films (with English subtitles) supported by various foreign embassies, or independent works of quality that probe and provoke. On average, you may find at least one free film a month. Personally, I've caught some really amazing foreign films at The Arts House. For an updated film list, you may visit the link here.
Let's run the numbers for you:
Replacing one weekend movie night each month with a free film at the Art's House, assuming you go as a couple, we're looking at about $12x12x2 = $288 worth of savings annually. In case you were wondering about the quality of the 75-seater Screening Room, here it is!
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note: seats for free film screenings are allocated on a first-come-first-served basis; as a rule of thumb, arriving 20mins before is a relatively safe buffer.
This lifehack lobang is a classic, and one of my favorites in Singapore.
I remember watching movies for $5 when I was little. Today, weekend movie tickets cost up to $12! I guess most people have turned to torrents as an alternative...
Well, Lifehacksg#5 presents - free regular films in Singapore!
The Arts House is Singapore's premier literary arts space located at the old parliament house, Singapore's oldest surviving government building. For those of you who don't know, there are regular film screenings at the Arts House covering a wide genre of films. Typically, they screen foreign films (with English subtitles) supported by various foreign embassies, or independent works of quality that probe and provoke. On average, you may find at least one free film a month. Personally, I've caught some really amazing foreign films at The Arts House. For an updated film list, you may visit the link here.
Let's run the numbers for you:
Replacing one weekend movie night each month with a free film at the Art's House, assuming you go as a couple, we're looking at about $12x12x2 = $288 worth of savings annually. In case you were wondering about the quality of the 75-seater Screening Room, here it is!
note: seats for free film screenings are allocated on a first-come-first-served basis; as a rule of thumb, arriving 20mins before is a relatively safe buffer.
Lifehacksg#4 - Free MRT rides
[Savings type - $$; Annual - up to $360]
...now we're often pretty skeptical about our government and especially so with greater transport-related issues in recent times. Having insufficient infrastructure to support a 5.1million (and growing) population, public transport congestion woes seem to be one of the top problems facing this nation today.
Thankfully (and finally) the government together with SMRT have managed to think out of the box and a one year trial will commence starting June 24th 2013 - offering free rides to commuters who exit at any of the 16 designated stations in the Central Business District before 745am. If you hit that snooze button and end up exiting between 745am - 8am, you save $0.50 on your ride instead.
Let's breakdown the numbers for you:
P.S. The 16 designated stations are Bugis, Chinatown, City Hall, Clarke Quay, Dhoby Ghaut, Lavender, Orchard, Outram Park, Raffles Place, Somerset, Tanjong Pagar, Bayfront, Bras Basah, Esplanade, Marina Bay and Promenade.
...now we're often pretty skeptical about our government and especially so with greater transport-related issues in recent times. Having insufficient infrastructure to support a 5.1million (and growing) population, public transport congestion woes seem to be one of the top problems facing this nation today.
Thankfully (and finally) the government together with SMRT have managed to think out of the box and a one year trial will commence starting June 24th 2013 - offering free rides to commuters who exit at any of the 16 designated stations in the Central Business District before 745am. If you hit that snooze button and end up exiting between 745am - 8am, you save $0.50 on your ride instead.
Let's breakdown the numbers for you:
- Before 745am - Let's assume an average ride into town costs $1.50. Making an effort to arrive at work early for 20 working days a month, 12 months a year translates to annual savings of $360!
- Between 745-8am - At $0.50 savings a ride, 20 working days a month, 12 months a year translates to annual savings of $120!
P.S. The 16 designated stations are Bugis, Chinatown, City Hall, Clarke Quay, Dhoby Ghaut, Lavender, Orchard, Outram Park, Raffles Place, Somerset, Tanjong Pagar, Bayfront, Bras Basah, Esplanade, Marina Bay and Promenade.
Lifehacksg#1 - Getting a 5% discount on your utility bills
[Savings type - $$; Annual - $150]
If you’re into credit card promotions, the Standard Chartered Manhattan Card should be very familiar to you. Upon hitting the right expenditure level, you’re entitled to a 5% cashback. Yes, the bank is returning you $5 for every $100 you charge to this credit card. Well indeed there is no free lunch, and the catch here is that you need to spend >$3000 in the billing month, and the cashback is capped at $200 per quarter.
If you’re into credit card promotions, the Standard Chartered Manhattan Card should be very familiar to you. Upon hitting the right expenditure level, you’re entitled to a 5% cashback. Yes, the bank is returning you $5 for every $100 you charge to this credit card. Well indeed there is no free lunch, and the catch here is that you need to spend >$3000 in the billing month, and the cashback is capped at $200 per quarter.
The simple consumer psychology behind this – Standard Chartered Bank wants you to swipe your card more often to hit your $3000 target so that they make more from the transactions. In return you benefit with the 5% cashback; but if you’re starting to swipe for things that you don’t actually need, then you’re falling right into their trap. I don’t know about you but I do not like falling into traps.
Now I am definitely not in the high-roller club and $3000/month of expenditure is unimaginable for me. For this reason, the 5% cashback deal may not seem appealing at all. However, lifehacksg#1 suggests otherwise.
How can you secure the 5% cashback without needing to increase your discretionary expenditure?
Let’s use a working assumption that the average monthly utility bills for a family of 4 total to $250. What utility companies allow in Singapore is for you to prepay your bills in advance, any amount at all. What this means is that you are allowed to swipe your Manhattan card in January to pre-pay for 12 months ahead. 12x$250 totals to $3000, which is requirement needed to gain a 5% cashback with the Manhattan card. With this one simple act, you effectively get a 5% discount on your annual utility bill. That’s $150 of cash that you can spend on anything else at all.
This lifehack works with phone bills as well. Although with an assumption of a $60 monthly bill, a $3000 prepay will set you locked in for 50 months. This may not be wise if you’re looking for flexibility among service providers.
p.s. there could be readers out there who prefer to obtain points instead of cashback, but personally I think cashback makes a lot more sense.
Now I am definitely not in the high-roller club and $3000/month of expenditure is unimaginable for me. For this reason, the 5% cashback deal may not seem appealing at all. However, lifehacksg#1 suggests otherwise.
How can you secure the 5% cashback without needing to increase your discretionary expenditure?
Let’s use a working assumption that the average monthly utility bills for a family of 4 total to $250. What utility companies allow in Singapore is for you to prepay your bills in advance, any amount at all. What this means is that you are allowed to swipe your Manhattan card in January to pre-pay for 12 months ahead. 12x$250 totals to $3000, which is requirement needed to gain a 5% cashback with the Manhattan card. With this one simple act, you effectively get a 5% discount on your annual utility bill. That’s $150 of cash that you can spend on anything else at all.
This lifehack works with phone bills as well. Although with an assumption of a $60 monthly bill, a $3000 prepay will set you locked in for 50 months. This may not be wise if you’re looking for flexibility among service providers.
p.s. there could be readers out there who prefer to obtain points instead of cashback, but personally I think cashback makes a lot more sense.
