Anna Agoncillo, Author at MoneyDigest.sg

Key Disadvantages Of Working From Home

Working from the comfort of your own home may sound like a dream come true. However, just like any other working conditions, it has its disadvantages. Be completely honest with yourself and consider these disadvantages before you take the leap!

INCREASE IN UTILITY COSTS

One of the inescapable costs that come with working at home is utility. And if you are inside your home 24/7, it can cause the bills to shoot up!

This is why you should make it a habit to conserve energy through simple strategies such as scheduling your air conditioning use, reducing indoor heat by painting your rooms white, or working at the brightest part of the house.

DECREASE IN SOCIALIZATION

Since most people meet new people and make friends in the workplace, professionals who are working from home may experience loneliness, isolation, and depression. As they are plucked away from your previous co-workers and bosses, staying in touch with them is a must! In fact, Global Workplace Analytics showed that teleworkers who maintain consistent communications with traditional co-workers and bosses find career impact to not be an issue.

You can also use social media or join Yoga groups, photography clubs, or other types of support groups to creatively meet new people whom you share the same interests with.

INCREASE IN DISTRACTIONS

Distractions from accessible electronic devices, noisy family members, and many household tasks can be very disruptive. Sometimes these distractions can draw you away from your career responsibilities and later lower your income. Thus, keep your focused by turning off your devices or by using free Website blocking applications such as SelfControl (for Apple users) and SelfRestraint (for Microsoft users).

Also, use your home office space solely for making projects and crafting items so your brain can associate the space to automatic “work mode”.

DECREASE IN PERSONAL TIME

Based on personal experience, there will be days when you are tempted to work any time when you are hired to work from home. The lack of a management enforcing strict working hours and the lack of physical separation between home and work may add to the pressure of working endlessly.

Image Credits: pixabay.com (License: CC0 Public Domain)

So if you are under one company, consider setting your daily hours to avoid phone calls and emails that are conflicting with your personal time. Working from home requires time management and organization skills that not everyone has!

Sources: 1, 2, & 3

Create An Irresistible Window Display To Improve Your Sales In 5 Ways

When you walk pass a shop at Orchard Road, the window display is the first thing that leaves an impression on you and other potential customers.

Visual merchandising, that includes window dressing, is an important tool to engage the customers to go inside and to encourage them to purchase more. Thus, it optimizes the product presentations and the market sales. Aside from this, the significance of window dressing is more than improving sales – it is about building an image!

That said, here are 5 ways to create an eye-catching window display:

1. CHOOSE A THEME

As you are planning your window display, choose a unified theme or message you want to convey. For example, since 2016 is the Year of the Monkey, dress the mannequins with glittery or formal outfits perfect for the parties then fill the backdrop with banana trees and monkeys hanging around them.

Image Credits: displayhunter2.blogspot.com

This uniquely festive jungle theme surely caught some eyes!

2. SHOWCASE A VISIBLE SIGNAGE

An effective signage can bring customers that both walk and drive by. Get the attention of passing motorists and shoppers by making your display larger and by making the colors contrasting.

For example, it is advisable to use yellow background especially with black lettering to convey an informative message as it works best in visually crowded environments. It can also be used with contrasting colors of red and blue.

3. BE DIFFERENT

People love to snap and share aesthetically pleasing places and products on Instagram, Facebook, Twitter, and other social media platforms. Thus, to get noticed and to bring more people in the shop, dress your window in a non-traditional fashion. Put your mannequins upside down or have a music festival backdrop – your imagination is the limit!

Image Credits: pixabay.com (License: CC0 Public Domain)

As window displays change frequently, you must not be afraid to try new ideas and new themes.

4. MAKE A CLEAR FOCAL POINT

Remember those commercial advertisements that stick to people but they forget the product itself? Do not make the same mistake with your window display!

Highlight the products you want to introduce or to feature by strategically grouping products together. For example, if you are featuring a huge tote bag, group it together with smaller purses so it can stand out. When dressing your window, ask yourself where you want the shopper’s eyes to go first and what you want them to view next.

5. BE BOLD

Debbe Hamada, owner of Tilde shop, makes sure that her window display can be see from a distance even though she usually spends less than S$42 (US$30) on it. She uses bold colors and shapes to attract more people in. In fact, 2 out of 10 customers go inside simply because they have seen something colorful in their windows.

Image Credits: pixabay.com (License: CC0 Public Domain)

You do not need to be crafty to make a bold statement, simply put the most vibrant products together and create a structure with it such as a pyramid or a diamond.

Sources: 1, 2, 3, & 4

Quick And Simple Ways To Fix Your Financial Clutter

In the daily hustle of the city, being a busy bee is hard work but, that is not an excuse to remain untidy with your finances!

Simply spare at least 20 minutes of your time to manage your own finances with these four ways:

1. IDENTIFY YOUR FINANCIAL VALUES AND GOALS

Without underlying values and goals about money, you would not be able to fully integrate it to your life. Thus, the essential first step is asking yourself: What are the most important things to me (i.e., values) and how do I get there (i.e., goals)?

Develop a habit of financial goal setting to know where you are going and to plan how you can get there. Write down your financial goals with a trusted witness and contemplate the monetary milestone you would like to accomplish in the next 2 months to 2 years. Track down your monthly progress accordingly.

2. TIDY UP YOUR WALLET

Like your study or workspace, you will be able to clear your thoughts better when your wallet is organized and neatly placed. Fill the individual pockets with your bank and identification cards so you can easily take it out when needed. Then, spend a few minutes emptying your wallet of old receipts and other clutter.

3. REDUCE YOUR FINANCIAL ACCOUNTS

In a world filled with a certain bank account card for all your needs, most people have several numbers of bank or credit card accounts. The complication starts when the credit card for travel, for petrol, and for shopping sends bills at the same time. Also, you may have different bank accounts for higher interest, minimal fees, and rebates.

More than being complicated, the constant shuffling between these accounts can get messy. Simplify your life by closing out one account per week or you may consolidate all your accounts online.

4. BUILD AN EMERGENCY FUND

Do you have an emergency fund to protect you from unforeseen events? If you do, it is best to put it on a separate account with an online access so you can easily tap on it if the need rises.

If you do not, the best time to build one is now! Consider joining the 52-Week Money Challenge (available here). The challenge starts off by saving S$1 a week and by the end of the year, you will be able to save up to S$1,378!

Image Credits: pixabay.com (License: CC0 Public Domain)

Sources: 1 & 2

Smart Financial Resolutions To Kick-Start 2016

What better way to usher in the New Year than by making smart financial resolutions to improve your wealth?

1. ELIMINATE YOUR UNHEALTHY HABITS

Unhealthy habits, such as excessively drinking alcohol or smoking tobacco, that you enjoy on a regular basis can not only increase your insurance premiums but also your daily expenses. Another unhealthy habit that may be costing you a lot is regularly eating junk. Junk food is called junk for a reason as excessive consumption can lead to obesity, diabetes, high blood pressure, and so on.

When you decide to stop drinking, smoking, and eating unhealthily this 2016, you will see your bills going down and you will feel improvements in your health in no time!

2. WIPE OUT UNNECESSARY EXPENSES

As you review your annual statement, there is probably an expense or two that you can trim from your budget. Mine is my mobile phone plan. Due to accessible Wi-Fi connection almost anywhere in Singapore, I am able to refrain from using the allotted local calls and SMS on my plan. Yet I am still paying for it. What a waste!

How about you? Go through your past purchases. After seeing the bigger picture, it is time to cut down your expenses. Reduce the unnecessary expenses such as mobile phone plan, designer bags or costly coffee beans and turn a new leaf.

3. BE MORE ECO-FRIENDLY

Fix, refurbish, or recycle your furniture, decor, or appliance that are still in good condition instead of spending money to replace these. As you revamp your stuff, use lighter colored paints to reduce the heat and energy consumption. As you recycle, you may consider turning your old drawer into a shelf. There are many ways to cheaply decorate your home and saving Mother Earth in the process…just keep your creative juices flowing!

4. LOSE WEIGHT

Every January, a huge queue of people flock in fitness studios and gyms. These members soon to disappear as months go by. Instead of wasting your money on costly gym or fitness studio memberships, workout for virtually free at your own home or at the town parks. Do yoga, jog outdoors, run in the stadium, or try any workout routine that you can do for free.

5. TIDY UP YOUR LIFE

Being messy with your space and time can cost you!

For instance, being untidy with your billing statements can result to late payments and penalty fees while being unorganized with your cooking time can result to overspending on take-out food. The list just goes on.

Image Credits: pixabay.com (License: CC0 Public Domain)

It is important to organize your life…have a physical storage for your bills and schedule your tasks. As long as you are on track, you will be able to save!

Sources: 1 & 2

Ways To Be Healthy And Make Money At The Same Time

After eating a lot of food this Holiday season, get back to your desired shape and earn money at the same time by following these five tips:

1. JOIN THE “PACT”

Looking for an efficient motivation to help you stick to your weight loss resolution in 2016? Look no further as GymPact brings you the Pact app! Pact app allows its users to pledge a specific amount alongside the set of days they plan to work out. Users who do not go by the said goal must pay for each day they miss. You earn cash for staying healthy and get paid by “inactive” Pact members. Also, the nutritional option allows you to commit to healthy eating or pay its consequences.

Download it for free on iOS or Android!

2. INCREASE YOUR SALARY

If you are still contemplating on whether or not you must exercise or not then, you must know that regular exercise helps to increase your salary.

In 2012, a study published under the Journal of Labor Research found that employees who exercise regularly earn 9% more than their sedentary counterparts. This may be due to the enhanced mental function, energy levels, and mood. Thus, these improvements make them more valuable to their employers.

3. TRAIN OTHERS FOR A LIVING

If you have passion for fitness, interpersonal skills, and sufficient knowledge to back it up then consider a career as a personal trainer. A personal trainer works directly with the clients to make fitness assessments, set goals, demonstrate exercises, and provide constant feedback to improve the client’s physique.

The salary is usually S$70-90 per session. Aside from getting paid by doing something you love, you can also save money on costly gym or studio memberships.

4. MAKE YOUR OWN HEALTH BLOG

By constantly writing or blogging about a certain topic, you become sort of expert on that topic. The most feasible ways to earn money from your blog are paid advertisements, paid articles, offering fitness courses, and selling health books.

Start by sharing your own wisdom and genuine passion to educate the readers about being in shape. After which, only promote the products and brands that you really believe in.

5. BECOME THE HEAD AT BOOT CAMPS

Whether you believe it or not, some people pay money to be pushed to their limits and scream at for the most parts! If you are knowledgeable about fitness and you are capable to teach a group of people then, consider becoming an instructor at a boot camp. Do the workouts with your students to burn as much calories as you can!

Image Credits: pixabay.com (License: CC0 Public Domain)

Sources: 1, 2, & 3

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