Where Did All Your Money Go?

“Where did all my money go?”, a friend of mine shouted in an open space.

Let us face it! People usually do not realize how much they are spending. You may not have a lavish lifestyle but, you seem to run out of money. Why is this so?

If you want to uncover the answer, tracking your spending comes in handy! Reach clarity by understanding how you manage your money. This step will help you to fully take control of your finances.

DETERMINE YOUR SPENDING HABITS

With the complexities of finances, where do you begin? Consider starting with identifying your spending habits. Do you pay to get your hair professionally dyed or do you dye it at home? Do you buy coffee from Starbucks or take advantage of the free-flowing coffee? Shed a light to your daily expenses and match these with your financial goals.

When you have identified a mismatch between your spending habits and financial goals, you can immediately plan the necessary alterations. Tracking your spending is essential to making better financial choices.

CATEGORIZE YOUR EXPENSES

Looking at your spending habits under a microscope entails that you have the ability to categorize each one. Complete your task by writing your expenses on a notebook or a ledger. Much like us, these expenses exist in a variety of ways. Some expenses are exclusively for students, while others are exclusively for working adults.

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Begin tracking your expenses by dividing a piece of paper into several columns. Assign an expense category on top of each column and highlight the allotted amount for it. For instance, the “entertainment” expense category can only consume S$100 of your monthly income.

TAKE SMALL STEPS

It goes without saying that you cannot force things. Forcing someone to love you reeks of desperation and displays no self-respect. Attraction comes naturally. Same with your finances. Taking control of your finances must not be a forceful act. Forcing success may lead to shutting down opportunities that you could have had. Try taking small steps first.

After categorizing each expense, commit yourself to recording your daily spending. Awareness of your daily spending helps you to keep track of how much you have left on each category. Simply deduct the amount that you spent today from the category’s “allotted budget”. A savvy shopper equips himself or herself with these information.

DOWNLOAD AN APP

Embrace modern technology by downloading an app or a software to keep track of your expenses. I, for one, use the free Spendee app. This user-friendly finance app allows me to categorize my expenses and to illustrate the entirety through graphs or charts. Entering a budget is as simple as pie!

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Some apps or programs allow you to sync your device to the computer. This way, your partner can examine your spending habits too. As a team, you may prevent overspending and stay within your bounds.

Source: The Balance

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12 Reasons Why You Aren’t Financially Ready To Get Married

1. Your present goals are mainly self-motivated (e.g., discovering oneself by traveling to several countries in Europe).

2. You are an undergraduate student who does not have an adequate amount of savings. Not to mention, you have to pay your student debts too.

3. You still depend on your parents to cover your monthly bills.

4. You are mortified with the idea of having a someone influence your ability to borrow money. Having a spouse with poor credit score may diminish your chances of getting the best car loan or joint credit card deals.

5. You have pushed the idea of marriage aside to build a career. Furthermore, you believe that attaining success at work will appeal to many potential partners.

6. “No money, no marriage” seems to encapsulate the fact that matrimony requires money, time, and effort. Thanks to the Singaporean wedding industry, couples spend an average cost of S$30,000 on their nuptials.

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7. You cannot afford to face higher insurance premiums. For instance, marrying a partner whose track record with cars is unappealing may negatively influence your car insurance premiums.

8. Your financial resources cannot cover the expenses that come with raising a family. Expectant mothers need to visit the OB/GYNs or gynecologists regularly. As a result, you will have to pay about S$60-75 per visit.

9. Your savings and insurance cannot match the overwhelming hospitalization fees of pregnancy. Can you imagine paying about S$3,000 for a two-day hospitalization in a private room of a private hospital?

10. You and your significant other have differing attitudes and beliefs towards money. Understanding each other’s spending habits and attaining compromise is one thing. But, continuously arguing about money is another.

11. You do not have a clear financial path at the moment. Consider seeking professional help.

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12. You are protecting your properties. Furthermore, you have not figured out how to divide your assets.

Whatever the reason might be, matrimony is a huge decision that you shall make when you are holistically prepared to face the next step. You may not be ready at the moment but, that is alright. No one knows what lies ahead!

Sources:  1, 2, & 3

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4 Money Attitudes That Can Cost You

Our attitudes toward money affects our financial circumstance. I am not saying that your mere fondness over money will lead you to earning more. Your money attitudes dive beyond your wants. Money attitudes influence how you approach a situation and make your financial decisions.

On that note, here are 4 money attitudes that can potentially cost you:

#1: I HAVE POOR MONEY MANAGEMENT SKILLS

As a finance columnist, I noticed how people differ in handling money. Others write down every little detail of their spending. While, some people believe that they are not good with handling money. This negative attitude towards money shuns opportunities to learn about money management.

Educating yourself about the dynamics of money is important. Your eagerness to wide your knowledge will fuel improvements. Start by reading books and articles on Personal Finance.

Replace Your Negative Attitude With: “I have the ability to learn more about money management.”

#2: MY SELF-WORTH DEPENDS ON MY NET WORTH

It goes without saying that our fast-paced society welcomes symbols of status. When a woman shuffles between different designer bags in the workplace, spectators perceive her as someone with sophistication and wealth. When a woman carries “lesser known” bags, she is seen as someone who is less wealthy.

Why is this skewed ideal so prevalent in our society? Perhaps, modern technology has something to do with it. Nonetheless, this tendency to match self-worth with net worth can potentially harm one’s mental health.

Replace Your Unhealthy Attitude With: “My self-worth depends on the acceptance and understanding of myself.”

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#3: MONEY IS SOLELY FOR SPENDING

Believing that money’s sole purpose is for disposal can lead to mindless spending or debt! Spending your hard-earned cash on lavish or delightful things every once in a while is acceptable. However, you must not overdo it! Make room for savings and investments.

In order to create financial abundance, you must save and allocate your money efficiently. Spending beyond your means will never lead to financial abundance!

Replace Your Exaggerated Attitude With: “The money that I do not spend increases my wealth.”

#4: THE RICH GET RICHER

“The rich get richer and the poor get poorer” is an aphorism that highlights our economic inequality. Let us be honest! Some people are not born with a silver spoon. But, they can do something about it!

Boxing yourself to a certain economic stature limits what you can achieve. You have a choice to take control of your life. You can improve your financial situation as long as you do not give up.

Replace Your Magnified Attitude With: “My financial present and future is entirely up to me.”

Sources: 1 & 2

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Couple’s Guide To Essential Money Values

It is no secret that many individuals aim to grow their wealth. Building a “healthy” relationship with your finances is vital in controlling it. Now, how does one begin to achieve this type of financial relationship? For starters, you must review the basics.

Money values, consisting of internal and external factors, influence your attitude towards money. It can help mold your life decisions too! For instance, a person who values foresight may build a robust retirement plan as early as 30.

Your money values are deeply rooted in your personality. Long before you met your partner, you have developed values surrounding money. Studies suggest that we inherit values, beliefs, and attitudes about money from our parents and other family members. It is important to discuss these money values when entering a romantic relationship.

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Unfortunately, couples rarely talk about their financial values and goals. They see this subject as a restricted topic fueled by social custom. However, it is never too late to have this financial conversation! Talking about your money values is the first step to syncing your financial plans. Start by discussing what your parents taught you about money as well as your financial goals. Having this serious discussion prevents conflicts, which came from differing money values.

In your discussion, consider creating a list of your money values. Here are some of the examples: Value of Time, Openness, Resourcefulness, Honesty, Patience, and Generosity.

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Encourage an flowing conversation whereby each of you will share about your list of money values. Understand each other’s point of view by highlighting the similarities and differences. Afterwards, choose the “top three values” that are important to the both of you. Work with these values to reach your goal.

On the opposite end of the spectrum, your financial discussions may become heated. Pause the conversation and revisit the issue later on. When it comes to money, it is difficult to always see eye to eye. Take a time out. With open communication and understanding, you can devise a plan to reach your shared financial goals. Good luck!

Sources: 1 & 2

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Inexpensive Ways To Have Thicker, Healthy-looking Hair

While some people find tranquility through immersing themselves in a new cultural experience, others find makeovers extremely therapeutic. I am one of those latter people! I seek refuge in the halls of my favorite beauty salons.

Over a year ago, a stylist pointed out how my constant bleaching can damage my hair. Since then, I have been exhausting my efforts into conserving the volume of my crowning glory. I started with opting for an organic shampoo without sulfates and other harmful chemicals. A good drugstore brand which carries this philosophy is the Avalon Organics. Go to your nearest drugstore to see the available options.

Along with redefining my hair care regimen comes these budget-friendly tips that may help you to achieve a thicker, healthy-looking hair.

THE WONDERFUL AVOCADO

Oh, avocado! Aside from using it as a belly-trimming agent, avocado is believed to be a good hair moisturizer. Making an avocado hair mask is easy. Simply combine one sliced avocado with a tablespoon of olive oil. Then apply the mixture to the hair. Let this sit for approximately 30 minutes. Then, rinse it. You can use this mask as much as twice a week.

PARTING WAYS

Observe yourself through a clear mirror. How long have you been sporting your hairstyle? Several years, I suppose. People tend to firmly hold on to their comfort zones. That should not apply to your hair style!

One of the quickest ways to add volume to your hair is by changing your part. Switch it to the opposite direction to help lift your hair away from your scalp. This will add more body to your seemingly flat hair.

THE LATEST CRAZE

Selected social circles have been experiencing the benefits of essential oils. This latest trend highlights the importance of “going back to nature”. After all, the medicinal uses of aromatic oils originated from the ancient civilizations. Hence, certain oils were believed to aid in hair growth and to prevent hair breakage.

For instance, grapeseed oil contains a significant amount of Vitamin E and fatty acids which promotes thicker hair. Other hair-related oils are rosemary, lavender, and cedarwood essential oils. Personally, I use an organic shampoo infused with rosemary.

Image Credits: pixabay.com

Save money by making your own mixture. Simply combine 5 drops of grapeseed essential oil with 2 tablespoons of carrier oil (i.e., coconut or jojoba oil). With your fingers, apply the mixture to your scalp. Then, massage it for about 5 minutes.

DRYING WAYS

Finding a milder method to dry your thin hair is among the first steps of diminizing frizz.

There is a plethora of image content featuring models wearing a towel on their heads. Without a doubt, it is common for people to use a towel to dry their hair. However, you must refrain from vigorously rubbing it against your fine hair strands. Gently blot your hair with your towel after stepping out of the shower.

Another alternative is using a microfiber towel that will absorb excess water. Decathlon has a range of cheap microfiber towels. Prices start at S$3.90!

THE STIMULATING MASSAGE

Healthy circulation is essential in nourishing the hair follicles where hair growth begins. Stimulate the blood flow into those follicles by massaging it. There are two methods that you can employ. Firstly, you may rub your oil mixture all over the scalp in a circular motion for a few minutes. Secondly, you may use a menthol shampoo and massage it into your entire scalp. Do not forget to include the sides, nape, and crown.

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Remember that your scalp is your hair’s foundation. Keep the foundation strong to let your hair grow in healthy manner.

Sources:1,2,3, & 4

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