A student’s guide to navigating student loan repayment

nus graduation ceremony

Congrats on graduating!

Now, it’s time to face the reality of having to pay back your student loan. And on top of the need to secure a job so you can manage your monthly repayments.

Feeling clueless about how to go about handling this? Here’s a simple student guide to navigating student loan repayment so stop worrying and start reading.

Budgeting starts now

If you’re the sort that earns a dollar and then spends a dollar, something’s got to change.

With a student loan waiting for you to repay, you need to start looking into your salary and budget accordingly.

And by budgeting, I mean going into the nitty-gritty details. Whether it’s food costs, phone bills, insurance, transportation, or giving the old folks “pocket money”, pen it down. Be as realistic as possible and then calculate how much you can afford to put towards your student loan repayment.

Tip: You need to scrimp and save for a start, but it’s good not to squeeze yourself dry and risk mental health issues along the way. It may take some trial and error but you will eventually get the hang of things with adjustments here and there.

How to practice financial discipline

There’s no other method when it comes to financial discipline—stick to your budget.

There’s usually a minimum loan repayment amount tag to your student loan. For example, DBS’s (university) study loan’s minimum monthly repayment is $100.

And following 2022’s median salary for fresh uni grads, it’s $4,200.

Yes, $4,200.

Don’t feel bad if your salary is below the median amount. Life happens.

But that’s not the point.

The main point is $100 is an easy amount to repay based on the salary you receive. Surely you can’t be earning less than $1,000 per month as a graduate, right?

If you set aside 10% of your salary, you can pay off way more than the minimum amount. Just make sure you’re comfortable with it.

Every dollar matters. If you find yourself with extra money at the end of the month, make those payments toward repaying your student loan. The interest is no joke and you want to pay back the lump sum as soon as you can.

How to save on interest and pay off faster

I’ve touched on this point a little earlier but what you want to do is to…

Pay more than the minimum.

Even OCBC’s student loan installments start from $100 per month. That’s the bare minimum.

ocbc tuition fee loan

Image Credits: ocbc.com

But if you aim to get this repayment thing over and done with, you need to “tahan” a little at the start and pay more than the minimum.

If your loan has no interest tag to it, good for you. But if it does, the interest is going to quickly add up. So to stop it from snowballing into tens of thousands of dollars, repay more each month.

What if you can’t make payments on time

My question to you is, why?

Based on my brief research on DBS and OCBC’s student loans, the minimum amount to repay is $100, as I’ve mentioned earlier too.

Even if you’re starting as an intern, the market rate should be >$1000. And that’s just 10% of your salary.

But if the problem is not due to your extravagant spending habits but unforeseen circumstances such as medical bills and whatnot, then you should let your guarantor know.

Seek help from friends or family members whom you can borrow money from. Since the minimum is $100, see if you can borrow $600 to $1,200 (6 to 12 months’ worth) to get by. If all else fails, contact your loan servicer to discuss the issue.

We’re already days into Q2 of 2023. Time just passes by like that and as someone who has had the experience of loan repayment, I’ll honestly tell you that the interest rate is insane. So never let it roll. You want to set a clear budget, stick to the repayment amount each month, and repay more if you can. Suffer a little now in your early 20s, and you can do more of what you want after the loan is cleared. Take that!

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Strategies to ensure everyone on the team contributes equally

team meeting

Managing a team is never an easy task.

You can curse out your ex-manager for being this and that but truth be told, it’s a challenge. And now that you’re in a managerial position, are you in a dilemma?

How on earth do you ensure that your team members are contributing equally? Well, we will be delving deeper into this topic in this post. So buckle up, and let’s roll.

Invest in team building

Depending on companies, some management groups think that team building is necessary at least once a year.

For me, I guess you set your own rules—once every quarter isn’t that bad. If it’s too much, then go for once every 4 to 6 months.

Team building is a good investment if you want a cohesive team. Duh. How can anyone work together in harmony if they don’t know each other well, don’t have common topics to talk about, or don’t see eye to eye?

Have clear sub-goals

Anyone who has walked into a project managed by a manager who does not know how to create clear objectives knows how it feels.

GG.

No, not good game, but good grief.

If you want every member of your team to get a slice of the pie, then make sure you map out your overall objective(s) and concrete sub-tasks.

For example, if you’re a team working on launching the latest summer collection of a fashion brand, then make sure every headcount involved in the project knows what they are doing. From the most senior executive to the newest intern, everyone should have a defined (quality, not quantity) task to work on.

And yes, keep those deadlines in check too.

Create an evaluation system
sample peer evaluation form

Image Credits: jotform.com

I’m not going to lie, I’m not a huge fan of evaluations. Why? Because it keeps me on my toes.

Knowing that I’m being “watched” not just by my boss but also by my colleagues leads me to pull my weight a little more.

So if you’re a manager who wants to play around with some psychological motivational forces, focus your attention on these:

  • Step 1: Peer reviews

To ensure that peer reviews work and not harm, it has to be done right.

I suggest making peer reviews anonymous. Whatever means you use to evaluate—the old-school way of paper forms or online ones—the only person that should be able to view those feedback would be you, the manager.

There’s no need to, as the Chinese saying goes, 挑拨离间 (sow discord).

  • Step 2: Analyze feedback

Once you’ve gathered fellow responses from your team, it’s time to analyze them.

Anonymous peer feedback is the best feedback if a certain point raised is rather consistent across teammates.

For instance, you may get comments such as:

“Meixin is quite slow in the work assigned to her. She doesn’t keep to deadlines.”

If just one person raises this point, then maybe it wouldn’t be that credible. But if you have a team of 10 and more than half has somehow or rather given such feedback, it shows something.

But I understand no one has the time to do such detailed feedback like that all the time. Maybe twice a year or once at the end of the year may work. Or you can consider using automated tools to track project progression and workflow completion ratios. This is wiser for managers who have to take care of >1 team.

In a nutshell, we have raised 3 main strategies in this article to ensure that everyone’s pulling their weight in the company. As a manager, the responsibility is on you to build a team that can work together. While you can’t guarantee everyone will like each other, teamwork can be built based on respect and regular conversations. And don’t forget to always pen down clear tasks for your teammates to work on. Lastly, have an evaluation system in place so there’s a proper outlet for peer reviews that can help you gauge the strengths and weaknesses of each team member.

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Discover the magic of solo traveling

man at the airport

Have you tried solo traveling before?

As someone who has been there and done that, I’ve enjoyed it thoroughly. But at various ages and life stages, I agree that it can be different for everyone. For those who’ve tried it once but didn’t enjoy it that much, I want to say:

Give it some time, and you will notice the magic.

Overcoming the fears of traveling alone

If you’re a foreigner in the world of solo travel, you will undoubtedly experience anxiety.

But rather than dwelling non-stop on the things that can go wrong, why not channel your energy into the things that can go right?

Just think about the new people you will meet and the stories you will hear. Those really excite me. And having traveled umpteen times, I assure you that traveling alone is not that bad.

How to make the most of your time alone

Being alone doesn’t mean you have to be “alone” all the time. I mean, there are opportunities to socialize.

You can start conversations with people you meet on the streets, join day tour groups, and be open to meeting new faces—locals and foreigners.

As an introvert, I’m okay with being alone but that doesn’t mean I’m not sociable. Over the years of solo traveling, I’ve met many new friends through day tours I’ve joined via Klook and Kkday.

I’ve also met nice folks (and some weird ones) on CouchSurfing.

 

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A post shared by Couchsurfing (@couchsurfing)

It’s really all about keeping an open mind.

Getting ready for a safe, enjoyable vacation

If you’re an absolute newbie or don’t have much experience with solo traveling, you’re probably in need of some advice. Lucky for you, here are some pointers to get you started:

  • Choose the right destination

I’m not trying to be biased here but certain destinations are flagged as a little more dangerous than others. Just do a search online and you will probably see a list of cities you should avoid in 2023.

  • Research thoroughly

Just as you (probably) won’t walk into an expensive restaurant for a first date without researching, the same goes for your first solo trip. Information online is abundant so make use of that and read up thoroughly before you go.

  • Plan your itinerary

I’m a planner and maybe you’re not. But having a big-picture plan helps to navigate precious days abroad and this works especially if you don’t have a whole month to “waste.” Since most of us have fixed annual leave and with only a week or two to spare for a holiday, let’s make full use of it.

Beginner tips for aspiring solo travelers
woman flagging a taxi

Image Credits: unsplash.com

If you’ve never traveled by yourself, the first trip might surprise you a little. And that’s okay. Just…

Keep an open mind. Whenever things don’t exactly go as planned, take advantage of the opportunity to try something new or simply go with the flow. Rigidity gets us nowhere. Stranger things can be fun!

Also, take small steps to get used to traveling alone. Folks who do not dare to take the first step, why not start by making short trips to neighboring countries? This will help you get used to the idea of being alone gradually without having to deal with the nerves of traveling to a faraway land right from the get-go.

And please, when in doubt, take flight. Whether it’s an invitation to visit a lesser-known local pub or a dodgy alley that doesn’t scream “Explore me!”, walk away.

Advantages of solo travel that last beyond your trip

For peeps who’ve tried it once but are still uncertain, I urge you to give it another go. That’s because the beauty of solitary travel and the advantages it brings is priceless.

There is more room for self-reflection when your daily schedule is not determined by what someone else wants to do or by the feeling that you must tread along to avoid unnecessary conflict (even besties fight on trips!). 

Because there is no one else to lean on except for yourself, you build on your confidence to face challenges, no matter how daunting they may seem. Tip: While it’s cool to navigate unfamiliar areas by yourself, choose the safer ones.

Solo travel necessitates independence and the freedom to think for oneself, whether it’s spending hours studying a map before beginning a climb or becoming engrossed in conversation with a stranger from a completely different culture.

So, what say you?

As we close, I just want to remind us that we’re people of different personalities and what is enjoyable for me may not be for you. But still, if you’ve yet to try solo traveling, I encourage you to open your mind and try. My first solo experience was not so smooth, I’ll be honest, but it was an adventure I lived to tell (more on that when the time is right). So give your guts a chance to surprise you, and you might find that solo traveling is not as bad as it seems.

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Why we should engage in traditional hobbies in the era of technology

Analog Hobbies

We live in a highly developed era of technology and that’s not something bad.

Thanks to our devices, we are continually connected with our loved ones, and the internet makes it simple to find solutions within a few clicks.

Aside from the fact that this level of technology has practically taken over every aspect of our lives, sometimes, it’s not necessarily a good thing. If we don’t do anything about our overreliance on technology, we run the risk of losing touch with the real world and ourselves.

What are some analog hobbies to try?

There are many analog hobbies out there, depending on your strengths and interests.

For instance, you can try your hand at woodworking or painting. I was online yesterday and came across an ad run by a graffiti warehouse in Singapore—Heaven Spot. 

 

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A post shared by HeavenSpot (@heavenspotsg)

Each session is an hour long and packages start from S$45. I’ve yet to try them out but it does look intriguing.

Have you had a session with them before? Would you recommend it?

Whatever your interests are, there are a ton of activities that you can do to keep your mind active. You don’t need a ton of expensive materials to get started either. With a few basic tools and materials, anyone can practice any art, from calligraphy to pottery making.

Why is going analog necessary in the digital age?

You might be wondering why we should look to the past for hobbies like knitting or making model airplanes when we live in the era of digital technology with its seductive array of devices.

Well, the obvious answer is that it offers something that modern technology cannot. Yes, I know how much technology has enriched our daily lives. But, a crucial component—the bodily experience—is also being rapidly replaced by technology.

Tactile experiences, such as handling something small and delicate like a tiny brush tip, are ones that a fully digital world cannot offer. Other examples include feeling the weight and texture of clay while you sculpt with it. Also, working with your hands on something tangible can give you a sense of fulfillment that typing on a computer screen just can’t quite match.

The advantages of analog hobbies for the body and mind

Finding an analog hobby can be just what you need to concentrate on when you’re feeling drowned by all the digital noise.

The development of creativity as well as stress reduction and enhanced mental health, are just a few of the significant advantages that an analog hobby can provide.

  • Reducing stress

Gardening, drawing, or playing an instrument are examples of analog activities that focus you on the work at hand rather than being constantly barraged by notifications from email or social media accounts. By doing this, you can stay right in the moment.

  • Fostering creativity

By engaging in creative hobbies like painting, sculpture, or writing poetry (on paper), you can foster your creativity and improve your well-being. Moreover, self-expression and overall mental health can also be supported through artistic creations.

  • A sense of ownership

Arts and music-related analog activities can promote a sense of accomplishment and aid in the management of mental health issues including anxiety. Working on something tangible gives us a sense of accomplishment that is sometimes challenging to achieve through digital activities.

How to work a traditional hobby into your everyday life

So are you convinced to put down your devices, and set aside time for analog hobbies?

Lovely.

We have a few ideas to get you moving:

  • Start journaling

Journaling in a diary is a great way to reflect on your day’s highs and lows as well as any interesting occurrences. If you’re not sure where to start, why not try a guided journal?

Chai Sunrise has this 3 Questions a Day Journal to help you start penning.

 

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A post shared by Chai Sunrise (@chaisunrise)

It’s pretty pricey for a logbook but I’ll give it credit because it’s not just a blank one; there are daily positive reminders for your soul!

  • Choose a long-term hobby you can sustain

There are lots of activities available that exclude screens. For instance, start experimenting with film cameras.

If it sounds too expensive, though, you can start with watercolor paintings or drawings. There are affordable options available on Shopee! For example, this Singapore-based shop called ArtFarm Singapore has a decent range of art supplies, including ‘Paint by Numbers Art Canvases’ for beginners. Click through the links to find out more.

Finding the right balance between digital and analog

Finding the right balance between analog and digital interactions can be difficult, but maintaining an analog way of life in the digital era is not impossible.

One way to achieve this is to set time limits for your digital devices, such as refraining from accessing social media after a specific time you set. Keeping track of how much time you spend in front of a screen is another option. If you set a goal to spend more time offline than online, you will be surprised at how much spare time you have.

So why not give some traditional pastimes a try in this digital age? Along with making you happier, more at peace, and less stressed, it may even help you reach peak levels of productivity as you train yourself on how to focus.

It’s easy to forget that conventional hobbies were once our forefathers’ pleasures in a world dominated by screens and media. Also, concentrating on an analog task can aid in the practice of mindfulness and keep us present at the moment. It doesn’t even have to be a big shift. Traditional hobbies can be quite beneficial, whether you decide to start painting, woodworking, or simply cuddling up in bed with a nice book. Disconnecting from technology can have a variety of benefits, from better mental health to strengthened relationships. So why not go analog and limit the cord on technology as we start the 2nd quarter of 2023?

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Extremely Drained from Work? Here are 5 Ways to Feel Less Tired

There’s something about working eight hours a day that leaves us feeling exhausted. Whether you constantly deal with difficult clients or completing an important project, a day at work can leave you unmotivated to do anything else. How are you supposed to meet up with your friends or to teach your child how to accomplish his homework?

Feeling depleted or burnout due to work demands can manifest in a variety of ways such as:

a. having negative, cynical, or pessimistic feelings about your job,
b. finding it difficult to be productive, and
c. feeling less confident about your work.

If you experience any of these symptoms, it may be time to start identifying the triggers that may contribute to your fatigue and consider making changes to achieve a healthy work-life balance.

WHAT IS STRESS-RELATED FATIGUE?

When you are heavily suffocated with stress in the workplace, you can experience stress-related fatigue. Feeling emotionally and physically down can be due to being sedentary at work, consuming too much sugar and caffeine, not taking enough breaks, and being in a stressful work environment. You may deal with this type of fatigue because of heavy workload, job insecurity, or other life and work stressors.

#1: SKIP ON CAFFEINE

We cannot deny the stimulating effects of caffeine, but if you do not want to spend the entire night scrambling around, drinking espresso after work is probably not a good idea. Try munching a banana instead.

You will be surprised by how a banana boosts your productivity! Bananas are a fantastic source of carbohydrates, natural sugar, and vitamins. All of these helps increase your energy levels.

#2: TAKE A POWER NAP

During your lunch break or after work, you can consider taking a power nap. If you can find a quiet space to rest, napping earlier in the day is better to avoid ruining your nighttime routine.

Even a 20-minute nap will help revitalize your body and make you feel fresh. However, be sure to set your alarm to prevent oversleeping. Otherwise, you’ll wake up feeling groggy.

#3: EXERCISE REGULARLY

After an exhausting day at work, you might feel that exercise is the last thing on your mind. Believe it or not, regular exercise will make you feel less tired in the long haul. Walking and physical activity can help manage stress and increase your energy levels.

Do this gradually. Build up your stamina over time until you reach the recommended goal of 150 minutes of moderate-intensity aerobic exercise (e.g., cycling, doubles tennis, or brisk walking) as well as strength exercises on 2 or more days a week that work all the major muscles (i.e., legs, hips, back, abdomen, chest, shoulders, and arms).

#4: DRINK MORE WATER

You’ll likely notice a change in your mood, ability to concentrate, and energy level when you are dehydrated. In fact, studies have shown that being just half a liter dehydrated can elevate your cortisol levels. So, keep fatigue at bay by drinking water sufficiently. Drinking enough water can help reduce the negative psychological and physiological impacts of stress.

Image Credits: pixabay.com

#5: CONSIDER TALK THERAPY

Research shows that talking therapies such as counselling or Cognitive Behavioral Therapy (CBT) might help fight fatigue or tiredness, caused by stress, low mood, or anxiety. Ask for support from your trusted social circles or seek professional help.

Sources: 1, 2, 3,  4, & 5

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