Possessions vs Experiences: Where Should You Spend Your Money?

Congratulations! You have survived one of the most challenging years of your life – 2020. As a reward, you may either purchase new possessions or new experiences. Personally, I saved up enough money to purchase a Nintendo Switch Lite. My hesitations rose as January 2021 came. I realized that I want to spend this amount on experiences instead. Surely, I will spend numerous hours on playing it for the first few weeks. However, happiness attached to things fade quickly. Instead, I can invite my significant other to a fine dining restaurant or a relaxing staycation.

A study by Dr. Thomas Gilovich, a psychology professor at Cornell University showed why possessions have a fleeting effect. Our excitement fades because we get used to new things. What once seemed novel quickly becomes the norm. We adapt.

I remember purchasing my first designer bag. I started collecting lower-end bags and began to grow fond with high-end bags. As I buy more designer bags, my expectations increased. I became more particular with the brand and the price. My increased expectations led to increase expenses. We keep raising the bar with possessions. This leads to the desire of wanting new and better things.

Lastly, possessions foster comparisons. You may purchase the latest designer bag, but feel empty when you compare your collection to your friends. There will always be someone with a better item than yours. These reasons highlight why it is better to invest on experiences than on possessions.

THE POWER OF EXPERIENCES

1. Experiences help you invest on purposes and passions.

If your guiding principle in life are possessions, you may be in trouble. You will never feel fulfilled chasing after the next “must have” item. Real happiness can be reaped through experiences. Follow your purpose and passion.

2. Experiences become a part of your identity.

You are a culmination of your experiences. Buying an iPhone is not going to change who you are as a person. Completing your first triathlon will certainly change you. You were shaped by the things you have done, the places you have been, and the people you met.

3. Experiences fuel less comparison.

Our experiences are subjective. It is hard to compare the quality of vacation two people have. A person may have a short and meaningful vacation, while his peer may have a long and wasteful one. It is difficult to quantify the relative value of any two experiences, which makes them more enjoyable.

4. Experiences foster anticipation.

Anticipation of an experience is important in increasing one’s excitement and enjoyment. While, anticipation of obtaining a material possession can cause impatience and frustration. Savor the moments of planning all the way to the memories that you will cherish forever.

5. Experiences introduce you to a whole new world.

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Unlike material possessions, experiences introduce you to new perspectives and moral lessons. For instance, travelling can instill gratitude and acceptance. You will begin to appreciate and understand different cultures as you travel to New York City or Manila City. Let your wallet take you to places you have never been before!

Sources: 1 & 2

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5 Inexpensive Pleasures Found In Singapore

Pleasure is a purely instinctive reaction lasting for 30 seconds to 2 hours. While happiness can be elusive, sources of pleasure are fairly easy to come by. We all need to indulge in pleasurable moments that will not break the bank! Add icing to your cake by checking out these suggestions that will help you savor the day.

INDULGE IN RICH CULTURE AND HISTORY

Explore the rich history dating as far as 1887 as you step into the halls of the National Museum of Singapore. Beneath its 19th-century colonial exterior is its cutting-edge technology, which it uses as a means to present the nation’s legacy and development. Its galleries take you on an immersive voyage with modern lenses. The new exhibition entitled “Home, Truly: Growing Up with Singapore” is up until August 2021.

The museum opened when the country moved into Phase Two. Please follow the COVID-19 guidelines to ensure everyone’s safety. It is open daily from 10 am to 7 pm.

INDULGE IN NATURAL WONDERS

Help your body benefit from having a healthy dose of sunlight and fresh air as you go outdoors. Treat yourself with nature’s beauty as you stroll the Singapore Botanic Gardens. The Gardens has been renowned as a UNESCO World Heritage Site at the 39th session of the World Heritage Committee on July 2015. It is the first and only tropical botanic garden on the UNESCO’s World Heritage List. This recognition speaks volumes on the wonders that this 82-hectare Gardens holds.

With more than 150 years of history, the Gardens will continue to play an important role as a leading tropical botanical institute and an endearing place to all Singaporeans. Visitors are asked to have a maximum group size of 8 individuals. A distance of 1 meter from other groups is also required. You must also keep a distance of 3 meters from others during exercises.

INDULGE IN FASTER CONNECTIONS

Being stuck at home for the majority of 2020 taught us the importance of having fast and reliable internet connectivity. We need this to stay connected to our friends and family members, to collaborate with our co-workers, and to order necessary household items online. Do not settle for slow and choppy internet services! Upgrade your current phone or internet plan by checking with your internet service provider.

Ask if it is possible to upgrade to a fiber optic or a high-speed cable. For instance, StarHub offers 2Gbps Fibre Broadband for as low as S$62.90 per month and 1Gbps Fibre Broadband for as low as S$39.90 per month.

INDULDGE ON YOUR INTERESTS

Take this time as an opportunity to indulge on your interests. What are some things that you want to do, but have no time for? It can be great for your mental health to work towards your new goals. Improve your skills by searching through fitness centers that provide free or inexpensive remote classes. You may also look for online music and dance lessons. Lastly, you can download free apps that will help you learn a new language or two.

While you’re at home, there are many great opportunities to use online learning to improve your skills. Yoga studios and fitness gyms are offering remote classes, many for free. Music and dance teachers are teaching lessons online. Why not use this time to learn a new language, learn to code, learn new cooking skills or find a new hobby?

INDULDGE ON MUCH-DESERVED SELF-CARE

With everything that happened during the past year, you deserve to take care of yourself. Self-care is not selfish! Self-care allows you to be more productive and motivated to tackle other upcoming tasks. Moreover, you will be able to support local restaurants and artisans.

Naiise has a plethora of self-care items such as bath bombs, teas, and candles. Bath bombs sell for as low as S$10. Interestingly, one bath bomb includes a 24kt gold leaf. I would love to try that!

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At a time when you have to be careful with your money, there are still affordable indulgences to enjoy. Consider an item or two on this list!

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How To Manage Your New Year Expectations

It is hard to believe the unprecedented year 2020 has come to a close. While things have certainly changed, people still develop expectations about future events. However, many people see the new year as a means to refresh a “frozen browser”. Change does not come overnight. View 2021 as a timeline for change. You will morph into the person you want to be as the days go by.

On that note, here are several tips to help you manage your life expectations.

LIFE HAS MEANING

Viktor Frankl was an Austrian Holocaust survivor, a neurologist, a psychiatrist, a philosopher and an author. He founded Logotherapy, which looks at the beauty in suffering. He believes in man’s dedicated search for meaning. Defining what matters to you can help you manage your expectations. Working at home or being trapped in your own space can make you feel helpless. It helps to adapt to the situation that you are in. Humans are incredibly resilient and challenging circumstances such as the pandemic help as foster and nurture our relationships. Focus on that.

WORK RELATIONSHIPS TAKE TIME

If you have a specific list of expectations about how your co-workers should respond or behave around you, your work relationships will suffer. I am not referring to acceptable (e.g., meeting the deadlines) and unacceptable behaviors (e.g., sexual harassment) here. Instead, you must not expect the person to behave a certain way just because you desire them to. For instance, you cannot expect your co-worker who is not a “morning person” to greet you with a cheerful high-five every morning. You will be disappointed. Accept your co-workers as they are.

STAY IN THE MOMENT

Sports Psychology highlights that the body is capable of far more than what we believe. Athletes who applied Sports Psychology to their routines have practiced visualization for success. It is good to visualize a pleasant future, but being anxious about the future can diminish your well-being. Avoid contemplating about what the future effects of the pandemic. Instead, do your best to stay in the moment. Try meditation. Mindful meditation is the process of actively and openly observing one’s physical, mental, and emotional experiences.

SET SMALL TREATS

Open your 2021 calendar and set your monthly goals. Accomplishing each goal entails getting a small treat. As many of our plans for the year have been postponed, you may allow each family member to choose a monthly treat to boost their motivation.

EXPECT THE UNEXPECTED

Year 2020 taught us that not everything goes as planned. Instead of hitching your wagon to the assumptions of the future, re-direct your mind to the present moment. It takes self-acceptance, patience, and will to manage your expectations.

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What are your financial expectations for year 2021? Be flexible enough to embrace life’s surprises!

Sources: 1 & 2

 

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Great Alternatives To New Year’s Resolutions

Research has shown that less than 10% of New Year’s resolutions were accomplished by the participants. If these people were hyped by the power of the new year, why are they likely to fail by February? The primary reason why resolutions fail is its tendency to be intangible. Moreover, it comes down to how an individual manages his or her habits.

Instead of setting the bar high for yourself, consider the great alternatives found on this list.

#1: CHOOSE A WORD TO GUIDE YOUR YEAR

Select a word at the beginning of each year and use it as inspiration to dictate your actions. It is hard to believe the unprecedented year 2020 has come to a close. While things have certainly changed, the passion in your heart remains. Visualize and manifest the world you want to live in by using these words as a guide: present, gratitude, generosity, and prosperity.

#2: MAKE A BUCKET LIST FOR THE YEAR

Instead of setting unrealistic goals, you may write a bucket list highlighting the experiences or achievements that you want to reach this 2021. Create a list that contains both lighthearted and serious items. Your list may include going camping inside the house, making a monthly budget, or serving a delicious dinner at your parents’ house.

#3: CREATE A YEARLY CHALLENGE

A yearly challenge is a concrete and realistic goal that you want to achieve within the year. Selecting one goal allows you to put all your efforts into tackling it. Here are some examples of the challenges that you may accomplish this 2021:

a. learning a new language
b. writing a book
c. getting out of debt

#4: SET A NEW GOAL EACH MONTH

Goals are more manageable when you divide it into small chunks. Perhaps January will be the month that you will dedicate to self-help books. While, February will be the month to pack your healthy lunches. You may create a 12-month calendar that outlines each of your monthly goals. Increase your motivation by rewarding yourself at the end of each month.

#5: TRACK YOUR HEALTHY HABITS

Write down three healthy habits that you accomplished per month. Having a visual cue that displays your accomplishments will motivate you to keep up the good work. Stay flexible and leave a room for healthy habits to emerge each day.

#6: DEVELOP A MANTRA

A mantra is a statement that you repeat frequently with concentration. Develop a mantra that will help you feel more empowered and positive. Rather than deciding that 2021 will be the year you will save more money, you can have a mantra stating you will only “buy what you need”. When you are shopping, remind yourself of this mantra. Repeating this in your head will help your behavior to change in time.

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The statement “new year, new me” has turned into a funny cliché nowadays. 2020 was a disappointing year. Instead of looking at 2021 as an instant re-do of your life. Look at it as a timeline for change. Change will not come overnight. You will morph into the person you want to be as the days go by.

Sources: 1 & 2

 

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10 Ideal Dates Based On Your Love Language

When you find the person that truly makes you happy and fulfilled, you will take the extra effort to build a long-lasting relationship. Strengthen the foundation that you built by having date nights or weekend getaways. Make your partner feel loved and appreciated by speaking their love language.

Dr. Gary Chapman is the renowned author of the “5 Love Languages”. It highlights that there are 5 ways that we can communicate love namely through: words of affirmation, receiving gifts, quality time, acts of service, or physical touch. Here are customized and inexpensive romantic ideas suited to your love languages:

RECEIVING GIFTS

For people who are fond of receiving gifts, dedicating the day to arts or shopping can be enjoyable. Schedule a painting night where you paint each other’s canvases. Exchange these trinkets of affection as the day ends. It is not only a fun activity, but also a memorable evening shared with your partner.

Another great idea is a shopping date. Add some spice by shopping for each other. Plan a shopping trip to your partner’s favorite malls. Create some guidelines such as your budget limits and your shopping categories. From an interesting book to a unique article of clothing, choose meaningful gifts for your partner. It is synonymous to playing a game with the added benefit of making your partner feel absolutely adored.

ACTS OF SERVICE

People who speak acts of service primarily feel appreciated when their partner does important things for them such as easing the list of responsibilities they have for the day. Cooking a delicious dinner at home is perfect. It eliminates a task on their to-do list and saves them from spending money. Moreover, you are showing your partner how much you care about him or her.

Another inexpensive date idea is having an art day at home. Gather all your art materials and complete a DIY project together. Make sure you pick a project that will add value to your lives.

QUALITY TIME

It is self-explanatory – people who have quality time as their love language want a fruitful date with their loved ones. You can either have a quiet dinner out or a refreshing hike. Spend uninterrupted time with your partner and chat about your day. Make sure to make a “no phones” policy to soak in each other’s company.

Alternatively, you may hike together. A nice view at the end of your walk will be an extra bonus. The most important thing is that you gave each other an opportunity to spend more time together. Take photos!

PHYSICAL TOUCH

For some people, they indulge in kisses and hugs. It does not have to be a total PDA. Simply make your partner feel safe by sharing a quick peck on the cheek or holding each other’s hands. You cannot go wrong with a couples massage. Either hire a professional or give each other massages.

You may also go ice skating or rollerblading. Hold your partner to avoid stumbling across the ice. Your muscles might be sore afterward, but your partner will be glad.

WORDS OF AFFIRMATION

What are words when you do not mean them when you say them? Express these loving words and show them through making a scavenger hunt or exchanging love letters. Start by creating a scavenger hunt with clues that are meaningful to your relationship (e.g., where your first date was). Add compliments in the process.

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Next, you may exchange love letters. Sit down and write to each other. Watch your partner’s heart melt with your sweet words. Tell your partner why she or he is the reason your life has changed.

Sources: 1 & 2

 

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