MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Do these 10 things if you want to achieve financial freedom

It is fair to say that most of us want to achieve financial freedom. To have enough savings and solid investments to afford the lifestyle you wish to can sound really attractive. Unfortunately, finding that freedom can be challenging.

Many people hold debt, overspend, or encounter challenges that make financial freedom challenging to achieve. However, all hope is not lost. Develop and maintain these simple financial habits if you want to attain financial freedom.

#1: Set specific goals

A goal like “I am going to be rich one day” is vague. A better way to set targets is to use the SMART technique. They should be Specific, Measurable, Achievable, Realistic, and Time-focused.

You should be working towards a SMART aim like “I am going to increase my savings by 1% a month for twelve months.” Write your desire down in a journal, and make it your mantra. Specific goals lead to accurate results, so cut out that fluff thinking.

#2: Write a budget

Image Credits: pixabay.com

Budgeting is essential for wise money management. Instead of squandering money away and realising reason why i’m broke, it’s better to start analysing your spending habits.

Ensure your bills are promptly paid and your savings are funded before allocating money to luxury expenses or feed your lifestyle inflation. Understanding where your money goes each day is the best way to control your urge to splurge.

#3: Clear your debts

With existing debts looming over your life, financial freedom seems like a faraway dream. When you owe financial institutions money, don’t forget that the interests are rolling.

To eliminate debt, you may want to try the pyramid strategy. Pay off your smallest debt first, then allocate that money to your next-smallest bill, and so on until you have paid your debts off altogether.

You may also be interested in reading our recent article on “top tips on how to pay off credit card debt quickly”.

#4: Automate your savings

Image Credits: Medium

We can’t emphasise enough because it’s one of the stablest ways to grow your savings. If you have a direct salary deposit from your employer to your bank account on payday, ensure a percentage of your income goes into savings right away.

It’s easy to set up recurring transfers to send money to a specific saving account every time you get paid, so you shouldn’t be giving any lame excuses. Once the automation is in, the routine will ease you into saving, so resist the urge to withdraw.

#5: Educate yourself on finances

We may be mistaken, but many of us do not have a good understanding of personal finances. Well, we can’t blame ourselves since it’s not taught in schools?

Wrong.

Take ownership to have at least a basic understanding of how money works – be it in the topic of debt or investments. Read books written by experts or consider taking some courses to develop your knowledge of money.

Speaking of which, do you know that Seedly is organising a Personal Finance Festival 2021? The most extensive personal finance event in Singapore is happening on Saturday, 10 April 2021, from 10am to 5pm. Read more about it here.

#6: Invest when you’re ready

Image Credits: Forbes

Investing in the stock market can seem scary, and it’s no wonder why some people have analysis paralysis.

Yes, the market is volatile and can occasionally crash. Unforeseen circumstances can cause even the most robust markets to shrink. But without risk, there is no return. As such, the stock market is one of the greatest ways to grow your wealth.

If you know not where to get started, how about beginning your journey through Robo-advisors? From OCBC RoboInvest to DBS digiPortfolio and Stashaway, there are several local options for Singapore investors.

#7: Monitor your credit scores

Your credit score is the first thing lenders will examine when you wish to make a major purchase, such as a car or a house.

Do you know how to grab hold of your credit report? You can get a copy from the Credit Bureau (Singapore). Each CBS Credit Report is chargeable at S$6.42 (inclusive of GST). Simply make a purchase online, at any SingPost branches, at the Credit Bureau office, or CrimsonLogic Service Bureaus.

Read up more information on credit scores and why they matter here.

#8: Maintain your health and assets

Image Credits: Medium

If you achieve financial freedom but then neglect your health, your hard work could go to waste due to unexpected healthcare costs. Constant exercise, eating right, and avoiding unhealthy lifestyle choices will benefit you in the long run.

While you take of your health, don’t forget to keep an eye on your things. Making sure that they last longer can help you save money.

This is true for everything, from mobile phones to laptops and cars. Keeping them well-maintained is likely to increase their lifespan and save you money on costly repairs or replacements down the road.

#9: Don’t exceed your means

Frugality is frequently on our radar, and you might have read about it in several money-themed blogs too. But you know what? It is an excellent trait for achieving financial freedom, and we’re going to play it like a broken record.

The ideal way to live within your means is to distinguish between things you want and the things you need. Just because you can afford something does not mean you need to buy it. If there’s a cheaper option out there, go for it.

#10: Talk to an expert

Image Credits: Great Eastern

Once you have accumulated some savings, talk to a professional about how to manage your money. Picking the right financial advisor who is legally obligated to act in your best interest instead of theirs is vital.

Final thoughts

While financial freedom may seem like a daunting goal to reach, it is well within your means to achieve it! Taking a disciplined approach and developing the abovementioned habits over time will help you get to your desired state of financial freedom in no time.

5 Unique Japanese Products That Actually Work

The Land of the Rising Sun shines brightly on many things, including unusual and creative products. “Made in Japan” may be a staple on quality electronics, but it is also visible in limited-edition items. This is why people queued up during the opening of the first Japanese dollar store Daiso in Singapore. Moreover, people have been showing their Daiso hauls in YouTube and other social media platforms.

On that note, here are five unique Japanese products that actually work.

#1: REFA FACE ROLLERS AND BODY MASSAGERS

ReFa’s platinum rollers harness microcurrent technology that mimic the natural electric current circulating in your skin and the kneading motions of an esthetician. It is designed to relieve, brighten, and rejuvenate the skin as it helps to reduce fine lines and contours the face naturally. It is cordless and battery-free because it draws power from the indoor solar light.

ReFa was established in Japan in 2009 and has since expanded to Singapore and other Asian countries. One of their bestsellers is the ReFa 4 Carat, which costs around SGD420 on Sephora Singapore. It is said to replicate the “double kneading” action of a skilled masseur. Roll your aches and troubles away by checking out its product offerings.

#2: FRIXION ERASABLE PENS

I remember when I was a university student. I used to have different Pilot Frixion pens on my bag and used it to take down my notes. From the trusty pen brand Pilot come these erasable ballpoint pens that can be erased using friction. It uses special ink that turns invisible when heated. They are available in rainbow of colors, and come in packs of ink refills. Moreover, you can pair your Frixion pens with your Frixion highlighters. Since the ink disappears at high temperatures, do not use it for signing important documents.

A pack of colorful Frixion pens retail for about S$24.60 at Lazada.

#3: TAMAGOTCHI DIGITAL PET

How old were you when you had your first Tamagotchi? A Tamagotchi is a handheld digital pet that was created in Japan by Akihiro Yokoi and Aki Maita. Since its inception, it had different versions such as the Eevee Tamagotchi and the Tamagotchi x PAC-MAN edition. Nurture your Tamagotchi character with the help of PAC-MAN for as low as S$59.99 at toysrus.com.sg.

Image Credits: facebook.com/virtualpet

#4: DAISO BANANA KEEPER

Daiso has a range of over 100,000 unique products and 40% of which are imported goods. Many of these products include household items and kitchenware. One product that caught my eye was the banana keeper. The S$2 banana keeper helps you to retain the shape and quality of your snack. You will never experience having a squished banana at the bottom of your bag ever again!

#5: PURE SMILE CHOOSY LIP GEL MASK

Have you ever felt like your matte or liquid lipsticks are sucking all the moisture out of your lips? Does your lips look chapped all the time? I have a solution for you. Unlike other face masks out there, there is a mask that is solely designed for your lips.

Image Credits: nymag.com

The Pure Smile Choosy Lip Gel Mask sheets allow you to have smoother lips with its ingredients like Vitamin E, collagen, hyaluronic acid, and jojoba oil. You can select the scent that you like most from the available flavors: peach, milk, fruit, herb and honey. Simply leave the mask on for 5 to 30 minutes and say hello to smoother, plumper lips. It is S$1.40 per sheet at Althea.

Here’s how to manage non-stop sibling competition

There comes a time when sibling rivalry becomes too much to handle. Parents and guardians, we feel your pain. Whether it’s screaming, kicking, or fighting, it always comes down to the adults to mitigate these situations.

However annoying it might be, though, sibling competition is a normal part of life. As Jeanine Vivona, a psychology professor at the College of New Jersey, rightly points out, “Competition with siblings is just a fact of life. And we, as people with siblings and people with children, can just try to manage it as best we can.”

In fact, throughout history lie stories of sibling rivalry. If you’ve read the Bible before, you would be familiar with stories of sibling tensions through the relationships of Cain and Abel and Jacob and Esau.

Since sibling rivalry has happened since the beginning of time, are there main reasons behind such strife? Well, they mostly come down to “harm” that one has done to another and jealousy over favouritism. In adults, it could also be due to parents’ legacy and financial resources.

Do you know that studies have shown that sibling aggression can happen as many as eight times an hour? But it’s honestly not a significant cause for concern. The conflict serves a developmental purpose by aiding a child in learning more about their personality and uniqueness through differentiation from their sibling.

And, as time passes and siblings get older, the conflict will most likely wear off. Though more often than not, folks dealing with the issue might find it tough to cope. That’s why we will take a look at some suggestions on how to reduce sibling squabbles.

#1: Examine the trigger

a young child crying in front of her sister

Image Credits: nymetroparents.com

Sally Beville Hunter, a clinical associate professor in child and family studies at the University of Tennessee, Knoxville, urges us to pay attention to what tends to happen before a dispute occurs.

Think about it, and you will probably agree that there’s always a fuel factor before a conflict begins. If you sense that your kids are about to fight, intervene and act on it immediately so you can stop the fight before it escalates.

For example, if your kids always exchange blows at the dinner table, pay attention to their tone, words, and actions to identify if any of them are in combative mode. The faster you intercede, the more you can stop aggression in its tracks.

#2: Guide them to resolve conflicts

Image Credits: blog.sacramento4kids.com

After the steam blows over, you can intervene by teaching them how to resolve conflicts so they can do so on their own in the future.

Try to sit them down for a discussion and give each child a chance to freely talk about their side of the story without blame and accusation. Then, have them come up with a few compromises and solutions by themselves.

Giving them a chance to work with each other will help build their relationship and resolution for years to come. Even if they were to face such issues with their school friends, they would instantly know how to deal with them.

#3: Sing your praises out loud

Image Credits: parentingforbrain.com

When your kids get along well, be sure to praise them and shower them with kind words when one sibling lets the other have their way first. For example, “I love that you’re letting your sister go first!”

However, when you’re trying to criticise a child, do so in private when the other sibling isn’t listening. Otherwise, they may use it as a weapon the next time they get into a fight and make the situation even worse.

#4: Encourage family get-togethers

Image Credits: Best Life

“Try to find common activities that allow everyone to be flexible and to feel connected,” Vivona said.

Even though your kids might have different personalities and interests, the more you can find shared activities that they can enjoy, their relationship will be better.

Maybe you could organise a physical activity or a family movie night? While arguments about what game to play or the right movie to watch can surface, don’t forget that this is a valuable chance for them to learn how to yield.

Don’t be too hard on them (and yourself)

Image Credits: Healthy Kids

With the year-long pandemic still ongoing and everyone’s on high levels of stress, it can be easy to lose your patience. It’s okay to get frustrated when your kids run into rivalry and small fights but don’t let it heighten into a shouting battle.

“I think some of these conflicts can be really solved by telling our kids to go outside and run around the house,” Hunter shared. And of course, not without them wearing their masks before they head outdoors.

Or if you’re worried that they may catch the virus and want to minimise risks, why not create an obstacle course for them using household items? If not, take them on a stroll around the neighbourhood. You could also be doing yourself a favour by taking in some fresh air outdoors at the same time.

Add these 6 lovely bookstores to your travel-later plans

As Stephen King rightly quotes, “Books are a uniquely portable magic.”

Books are famous for having a unique spell that draws us in and keeps us hooked. Book lovers everywhere can fall in love with a story from the first page and spend days captivated by the world they’ve been drawn into and the stories the authors are creating.

Bookstores themselves have also become portals to our access, creating a location where you can disappear into the racks with your favourite book and enjoy that little safe space you’ve made.

If that resonates with you, you must check out these stunning bookstores worldwide for some ideas on your next getaway when travel resumes.

#1: Seoul Book Bogo, South Korea

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This former warehouse is now home to one of the largest collections of books and used books in Seoul. The symmetrical space features curved bookshelves and beautiful open-air spaces with racks that stretch up high to the ceilings.

Each and every book here is unique, from independent publishers to personal collections donated by celebrities, bestsellers, and more. And yes, it’s one of the filming locations for the famous drama, Hotel Del Luna.

#2: Book and Bed, Japan

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Book and Bed makes the phrase ‘curl up with a good book’ more realistic than ever. This “accommodation bookshop” lets you read and buy books that you love and welcomes you to stay in the hostel if you would like.

The fusion bookstore and hostel offer you over 1,700 books to choose from in both Japanese and English. Can’t read Japanese? Fret not as there are specific genres in English translations available as well.

Beds are placed directly behind bookshelves, so you can simply reach out to grab a book and read yourself to sleep.

#3: Yangzhou Zhongshuge, China

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Plunge into a world of literary magic by visiting Yangzhou Zhongshuge, an underground tunnel-like room with reflective surfaces and curved structures to create an endless mirrored space that almost looks like still water.

The Chinese bookstore features mood lighting, starry twinkling lights, and a designated children’s space with colourful walls. Even if you don’t like to read, this place makes an excellent location for the gram or TikTok.

#4: Livraria Lello, Portugal

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This grand and ornate bookstore stands out immediately as a beautiful work of old architecture and literary sanctuary.

Tucked into a city on the coast of Portugal, this neo-gothic masterpiece boasts a stained-glass ceiling, elaborated wood carvings, and ladders to the highest bookshelves. It fits in perfectly with the cobblestone streets and medieval atmosphere of the larger Porto neighbourhood surrounding it.

Oh right, did you know that this bookstore was even rumoured to be an inspiration for Harry Potter for J.K. Rowling? Rowling treaded Livraria Lello when she lived in the city in the 1990s.

#5: El Ateneo Grand Splendid, Argentina

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El Ateneo Grand Splendid was formerly a beautiful performing arts theatre in the heyday of Argentinian performing arts!

Later a cinema, the elegant bookstore still has its original frescoed ceiling, theatre boxes and balconies, red stage curtains, and even the same elaborate decorations and carvings from the past.

As you grab your next great read, allow someone to serenade you live on the piano. Sip a cuppa or waltz through the splendid space for an experience you will remember for a long time to come.

#6: Shakespeare & Company, France

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Known for hosting famous writers and readers for about seventy years, Shakespeare & Company in France is a must-visit, picturesque bookstore on every book lover’s list. To be specific, it’s sited right in the heart of Paris.

Go beyond the whimsical green walls, and you will time travel to a display of some of the world’s most famous collections of books. From Voltaire to Ernest Hemingway, this bookstore has kept pieces of literary history alive within its walls since the 1950s.

Benefits Of Natural Ingredients On The Skin

Whether you are fighting breakouts or trying to regain your youthful glow, good skin care products can help you improve the appearance of your skin. Your skin routine is only as good as the products you use. High-quality and natural products are safe and efficient. It may come in different formulations for sensitive skin and other skin issues. Nonetheless, here are some of the ingredients that you can find in your kitchen!

#1: RICE WATER

Rice water is the water left after you cook the rice. It has been believed to be helpful in promoting a healthy-looking hair. Its earliest known use was over 1,000 years ago in Japan. Today, rice water gained popularity as an ingredient in skin treatment. I, for one, am using a Korean skin cleanser with rice water.

Rice water helps in soothing your skin and in protecting it from the harmful sun’s rays. Many websites recommend rice water for skin irritation caused by Sodium Laurel Sulfate (SLS). Moreover, it can be used to lighten the skin and reduce dark spots. A lot of commercial products incorporate rice water in their soaps, toners, and creams. In fact, a 2016 study showed that it was an effective sunscreen when combined with other plant extracts.

#2: TEA BAGS

Used tea bags can be used to reduce puffy eyes, to remove dark circles, to act as toner, and to scrub your skin. The caffeine content in tea helps to shrink blood vessels underneath the skin and further reduce dark circles around the eye. Simply wet two tea bags and place them on your eyes. Keep it in place for five to ten minutes. Do this regularly to reduce puff eyes and to lighten the dark circles.

Secondly, you may use your tea bag or tea leaves as a toner. The astringent properties of tea make it a great toner. Start by wiping a tea bag over your face. Then, wipe it away with a clean towel. Lastly, you can re-use the tea bag as a scrub. Cut it open and use it as a scrub. Wash it off with water and moisturize afterwards. The antioxidants present in the tea bags will help your skin feel smooth and soft.

#3: RAW HONEY

Raw honey is honey that has not been pasteurized or processed. It has higher levels of nutrients and minerals than processed honey. However, it may not be as safe to eat. You can use the raw honey for your skin instead. Honey contains natural enzymes that may remove dead cells on the skin. This is the reason why it can act as a natural exfoliator for your skin.

#4: LEMON

Lemon is a well-rounded ingredient that has antioxidant, antifungal, astringent, and brightening qualities. Lemon juice contains vitamin C, which helps reduce skin damage and pre-mature aging. Due to its high pH levels, lemon can also decrease oil on the skin and reduce inflammation. Not to mention, lemon contains acids that have the ability to naturally lighten the skin. Applying lemon on your skin may help lighten your acne scars and age spots.

#5: SALT WATER

Sea salts can act as a great exfoliant that opens pores for a deeper clean. It also allows your skin to better absorb moisturizers and increases blood circulation. If you have sensitive skin, salt water should be used for your body and not on your face.

#6: SUGAR SCRUB

I have been a fan of sugar scrubs ever since I used in on my lips. It can be used for your face too. The smaller particles make sugar easier on the delicate skin. Be very gentle when you are using the sugar scrub on your face.

Image credits: pixabay.com

Begin by rubbing the sugar scrub with your hands in small circles without applying too much pressure. You do not need to dissolve it first. Simply, rub it on the skin and wipe it off. How nice is that!

Sources: 1, 2, 3 & 4