Here’s how to stop the urge of spending money

by  in Personal Finance, Savings
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shopping bags

Emotions have a big influence on what we buy. As a result, it’s understandable that when anything is going on in our personal lives, it will manifest itself in our financial habits as well.

Does a little online shopping sound like the solution when you’re having a bad day? It may be as simple as picking up a new blouse or the latest pair of shoes. You convince yourself it’s not a huge cause for concern; you simply want to treat yourself to something good. Hold your horses! Making judgments based only on emotions is a proven way to give impulsive buying the upper hand.

Here’s how to stop the urge of spending money.

Have a plan

Having a plan for what you want to purchase and how much you will spend before you begin your shopping spree is a wonderful strategy to avoid impulse purchases. You will be less prone to overspending if you have a shopping list in place. It might include everything from groceries to holiday gifts for your family and friends; just make sure you know what you want to grab before you go.

Solve issues with existing products
DIY drums

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Is it really necessary to have a mobile phone holder on your workstation, or can you just rest it against a water bottle to check incoming notifications? Is it wise to purchase your kid a toy drum set when you could DIY your own? Using a little creativity, you might be able to fix problems with products you already own, or at the very least, postpone your next e-commerce transaction.

Track all that you’re spending: big or small

The smallest purchases may quickly mount up, and by the end of every month, we may be faced with buyer’s regret. The secret to effective budgeting is keeping track of your expenditures because it holds you liable for every dollar that leaves your bank account. You will be capable of making better spending decisions once you know where your money goes.

Many people begin by keeping track of their larger spending, but it’s just as vital to keep track of those minor, recurring purchases. A daily cappuccino, weekend meals out, or getting a seemingly harmless monthly magazine may add up to a lot more than you realize, and they can have a significant impact on our finances. You would have saved roughly over $100 per month if you could forego that Starbucks drink before you hit the office.

One of life’s most noteworthy temptations will always be to spend. Knowing how to control your impulses will help you get the optimum financial status possible in the future. While avoiding spending urges may seem tedious or challenging in the short term, the money you save today will provide greater options for enjoyment and financial security in the long run.

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Tips to educate your kids on investing

by  in Investments
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teaching kids how to invest

Time is your best friend when it comes to investing. The longer time you allow your assets to develop, the bigger your retirement fund will be. The problem is that most individuals aren’t educated about investing until they’re in their adult years. And by that time, most have already squandered over two decades.

Traditional educational systems often do not educate children about investing, such as why they should acquire stocks while they are young and how to build a diversified portfolio that will last them until retirement. As a result, it is incumbent on parents to prepare their kids for financial security. Fortunately, financial literacy can be taught from the comfort of one’s own home.

Here are tips to educate your kids on investing.

Patience is key

Investing, like most pleasures in life, takes patience. Instill in your kids the understanding that investing is not a get-rich-quick gimmick. Rather than anticipating a rapid return, the idea is to put money into the stock market and watch it increase over time. This piece of advice will set more realistic goals for your child when it comes to investing from the get-go.

Gift them investment books
How to Turn $100 into $1,000,000: Earn! Save! Invest!

Image Credits: amazon.com

There are several excellent finance-related books for kids and teenagers that may help your child learn more about investing. For example, How to Turn $100 into $1,000,000: Earn! Save! Invest! is ideal for any parent who wishes to raise a child who is financially savvy and secure. The quest begins with instructions on how to make a first hundred bucks while the rest of the book follows the path to a million dollars. What’s there not to like about it?

Introduce familiar companies

For years, the expression “buy what you know” has been tossed about in investment circles. It’s important to teach kids how to invest by putting their money in firms they recognize. Today’s children are well-versed in product branding and are adept at conducting web searches. Consider inviting your kid to spend time with you investigating the stock price of a firm they are interested in.

Look up the payout history during the search and clarify why they will get the declared dividend amount for each share of stock they hold. You could perhaps suggest reinvesting returns to continue expanding the asset, based on your child’s financial literacy level. Kids may become long-term investors by investing in what they know: if they clearly understand the firm and grasp what drives its operation, they are more inclined to stick it out during moments of instability.

The sooner you start introducing concepts of investments to your children, the more probable they will establish good financial habits and accumulate money over time. You may even be amazed at how much your children can comprehend, notably if you start teaching them diverse tactics at an early age. Don’t put off the thought of helping them start saving for retirement; they will thank you down the road.

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6 Benefits of Staycation in Singapore

by  in Lifestyle
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The staycation trend has increased significantly in recent years. Instead of travelling far for your vacation, you can stay in a hotel nearby to act as a tourist discovering local attractions.

Staycations have several benefits that make them attractive to couples and groups of friends. Here are some of the benefits:

#1: SAVE MONEY

Staycations are more cost-efficient than traveling overseas due to cutting expenses such as airfare and expensive meals. Travel and accommodation can cost a lot of money. A chunk of vacation budget goes towards these categories.

When you are preparing for a staycation, you can use your money towards more entertainment activities and delightful food.

#2: MAXIMIZE TIME

Say goodbye to airport stress and the possibility of flight delays. Your travel time will be shortened due to staycationing nearby. Aside from saving time, you do not have to deal with the stress of queuing, traffic, and so on.

Image Credits: pixabay.com

#3: LEAVE YOU INSPIRED

Having some down time can give you a chance to explore innovative ideas. Steer away from chaos and generate fresh ideas as you lounge in the hotel lobby or sit near the hotel pool. Inspirations can later be turned into productive projects.

#4: FIT FOR SHORT BREAKS

If the vacation days your organization gave you is short, it is vital to make use of your time. It is easier and more practical to allot it in a weekend getaway.

You can be spontaneous year-round as you book and enjoy a relaxing break, within Singapore. Consider alternative places such as a glamping staycation, a staycation in a yacht, at SG Hotel On Wheels, or at Resorts World Sentosa.

#5: NO JETLAG

With international travel, you can experience time differences and jet lag. Arriving at 7 am after a 14-hour flight and having to stay awake all day may make you feel uneasy.

The time difference can also impact your vacation quality and access to contacting your family back home. There is no need to worry about jetlag and time difference during a local staycation!

#6: PLAN LESS

Planning is a huge part of people’s holidays. You have limited time to explore a new country and you want to pack in as many things as possible. However, planning to visit a new country can take time.

Image Credits: pixabay.com

The beauty of a staycation is that you can leave home without completing a list of tasks such as searching for cheap flights or searching for accommodation near the airport. Less planning will enable you to spend more quality time with the people you love.

Sources: 1 & 2

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How to say no at work

by  in Career and Enterprising
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a man overloaded with work requests

Most individuals struggle to say no because they feel terrible for not assisting and for not being a team player. Unfortunately, saying yes to everyone and being overworked is neither healthy nor productive.

Knowing how to say no politely can convince your colleagues and supervisor that you aren’t refusing to help them because you don’t want to, but because you are overloaded and can’t take on additional responsibilities at a particular timeframe. Remember, if you’re fatigued, it makes you extremely unproductive.

Read on for ways on how to say no at work.

Don’t drag

Since you already know the reply you’re going to give, don’t ramble. It will only get worse with dragging and the mental strain will add to your tension. Furthermore, it is fairer for your colleagues because they will have more time to find someone else to take on the task.

Stay flexible

If you can’t accomplish something on a given day, try to ask if the both of you can agree on another deadline. If you don’t have the time or resources to accomplish the entire job, volunteer to undertake only a portion of it. The main idea here is to remain adaptable.

Weigh your priorities
overwhelming workload

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Staying on top of your priorities can assist you in determining whether or not you are capable of taking on additional responsibilities. Say no if you notice that you already have a lot on your plate and that taking on more will make you feel overloaded.

Explain in a candid manner

Too frequently, individuals give insignificant excuses and then hide the true reason they’re saying no for they believe it’s unnecessary to share. The little, self-deprecating justifications, on the other hand, are unpersuasive and can be readily dismissed. Be honest about why you’re saying no to avoid resentment. Keep calm, precise, and on topic when revealing your situation.

Ready yourself for negative responses

Negative feedback is something you should expect. It’s possible that your coworker is unhappy and might instantly burn the bridge. However, bear in mind that you can impact but not dictate how other individuals react. To put it another way, you can’t satisfy everybody. Don’t make the mistake of seeing your coworker’s response as a dilemma between a potential conflict and maintaining a working relationship.

We are aware that it’s difficult to say no at work, but it’s often required. You must define the limits and speak up for yourself; cease over-apologizing and yielding to demands to put others’ concerns ahead of your own. Ultimately, rejection is a talent that takes practice to master so don’t be too hard on yourself right from the get-go.

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6 Essential Questions to Ask on Your First Day of Remote Work

by  in Career and Enterprising
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Beginning your journey as a remote worker or working from home can be challenging. As you enter an uncharted territory, you probably have a set of questions to ask your new employer.

We have all been there before! You want to understand how the company operates to contribute a good output or to impress your new boss. Organize your thoughts and help set the expectations by asking these essential questions to your employer or hiring manager.

#1: WHICH FOLDERS OR FILES SHOULD I HAVE ACCESS TO?

Usually, remote companies have a shared bank of files and templates that you can assess. Review these documents and pay attention to the templates that you must use for your new position. Locating these files will save you hours of digging.

#2: WHAT ARE MY PRIORITIES FOR THE DAY?

It is easier to transition into a new position when you have a clear idea of what your essential daily tasks are. The sooner you ask, the more productive you can be. You can begin to have a better grasp of what management sees as your role by asking this question.

#3: HOW CAN I SHARE MY THOUGHTS OR IDEAS?

Do you believe that you are an asset to the company? Asking this question shows how eager you are to contribute to the workplace. As a new employee, you provide a fresh perspective. However, it can be challenging to share your thoughts. Since everything is digital nowadays, some managers may prefer to receive a private email or a group discussion through video conferencing apps. Ask your hiring manager or employer about this.

Image Credits: pixabay.com

#4: WHO DO I REPORT TO ON A DAY-TO-DAY BASIS?

It is harder to see the department divisions in the remote environment. As you are working from home, you may answer multiple people. Ask your hiring manager or employer who you will report to daily. This will prevent others from assuming that you are working with them exclusively.

#5: WHICH MEETINGS SHOULD YOU PUT ON YOUR CALENDAR?

Whether you are using Google Calendar or Calendly to organize your appointments, it is essential to know which meetings you should put on your calendar. Educate yourself about the company’s meeting procedures. Do you meet online on a monthly, bi-monthly, or weekly basis?

#6: WHAT IS THE USUAL PROCESS FOR THIS TASK?

Every team accomplishes things in their own way. Showing that you are open to learning from them can help you change your mindset earlier on. Find out how you can work efficiently to contribute to the company’s processes and systems.

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