MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

5 Helpful Tips To Achieve Work-Life Balance

Focusing on your career and enriching your personal life can be challenging in today’s busy world, but it is possible!

1. PRIORITIZE YOUR TASKS

Efficiency at work is a trait that I take pride in. I search for the quickest and the smartest ways to finish the tasks. Whenever I am bombarded with serious deadlines, I make it a point to list down all of them. Doing so enables me to examine which task I should prioritize first. For instance, I would rather rearrange my closet at noon than putting my assignment on hold.

Avoid feeling overworked by accepting that you cannot be on top of everything in your life. Hence, you must devote your time and energy into the tasks that will deliver the most beneficial outcomes.

2. MONITOR YOUR TIME

Be honest with yourself. How much time do you spend on things that matter to you? Does your day align with your priorities? Maximize your time by eliminating unnecessary slots (e.g., time spent on worrying about the opinion of others).

After listing down all the tasks that you have to accomplish within the day, assign a time slot for each one. Organizing your timeframe allows you to take breaks in between. Also, it highlights the importance of scheduling your private time. It is not what you think it is! Your private time refers to the opportunity to reduce your stress and to recharge your energy. Whether you want to sip a cup of tea or read a book in solitude, give your own time the same respect as a work meeting. Abide strictly to your schedule…unless there is an emergency!

3. SET A VACATION

In lined with scheduling the flow of your day, you must set a period for sabbatical. At least 14 days off work per year would do. You may think that spending two weeks off is not economical! However, you must focus on its benefits for your holistic wellbeing. Consider an affordable staycation in Singapore or a worthwhile weekend trip in the Southeast Asian countries. Use your paid leaves wisely!

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If a vacations sounds a bit far-fetched, set aside at least an hour of each day to focus on yourself. Whether you want to walk your do to the park or to get a Thai massage, it is good to have something to look forward to.

4. DO NOT MULTITASK

Previous studies have shown that multitasking is associated with less productivity. Our brains are essentially “task switching” when we do two or more tasks at a time. The gravity of the situation can be illustrated by imagining your brain as a computer. The more programs you have in operation, the slower it will function overall. Multitasking not only affects the quality of your work, but it can also affect your gray matter volume. This brain component is responsible for memory and decision-making. You may recall juggling two tasks and forgetting some elements in the process.

So, be sure to empty your thoughts when it is time to work. Leave your household chores behind you! Once it is time to go on a romantic date, do not think about the report that you are going to present in the morning. You will be more productive when you are not dividing your attention into small fractions.

5. UNPLUG YOUR DEVICES

How many times have you heard the saying: “LIVE IN THE MOMENT”? This statement has been posted in several of my friend’s social media walls, yet is impact is underrated. We cannot help it! It is easy to feel attached to technology. I once attended my sister’s graduation ceremony. The mother in front of me brought her laptop and hand-phone along. She was shamelessly answering calls and typing away as the students march to the stage. This situation stresses the clash of work and personal life.

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The downside of modern technology is that work can follow you wherever you go. Your client may even reach you while you are catching waves in Bali. Robert Brooks, a Psychology professor at Harvard Medical School, says that “phone notifications interrupt your off time and inject an undercurrent of stress in your system”. Shut down your devices upon reaching home. Enjoy interacting with your beloved ones to build an authentic quality time. By not reacting to the updates from work while you are at home, you will develop a stronger habit of resilience. Unless it is an immediate emergency, the job situation can wait.

Sources: 1, 2, & 3

Fastest Ways To Drain Your Money In Singapore

1. Visit the nearby grocery while you are hungry. Shopping hungry typically leads to adding unnecessary items to your cart. You will be amazed by the length of your receipt!

2. ATMs are easily accessible in Singapore. So, draw more money that what you actually need. Your S$40 can disappear as quickly as drawing only S$20.

3. Embrace tardiness! Paying the bills late takes you back by a decent amount due to the late fees and surge in interest rates. Doing this regularly may potentially damage your credit score too.

4. Promotions and other good deals are everywhere these days. Nothing will flush your money faster than becoming an impulse buyer. See something you like while window shopping? Grab it and worry about the cost later.

5. Shower your pets with #OOTD options by purchasing clothing for all occasions. From a fairy ensemble to a Santa costume, pet clothing and accessories can cost about S$3 to S$30.

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6. Get additional S$10 or more on your teleco bill by exceeding your data limit. Some network providers apply the charges even if you exceeded your data capacity by 0.000001GB!

7. Many of us depend on a trusty cup of coffee to keep us energized throughout the day. With branded coffee chains at every turn, it is hard not to be tempted. Spending at least S$6 a day will add up to S$42 in a week. The same idea applies for artisan water.

8. Be hooked on a smartphone app! An addicting game can lead you to scoring some in-app purchases. You really need that power-ups from Candy Crush, right?

9. Do you have a thirst for excitement? Be surprised by the variety of fees and penalties that you can acquire by not reading a contract. You signed on the dotted lines thus, you are obligated to pay for all of them.

10. Watch your money fly by regularly purchasing disposable razors. Disposable razors tend to lose its sharpness and durability quickly. You will end up buying this product frequently.

11. Go to the grocery store at least twice a week. Making this a routine suggests that you are not properly tracking your food consumption or adjusting your expense categories.

12. During rush hour, you can either book a regular taxi or a Grab taxi. The latter offers a flat fee that is calculated upfront without hidden fees. While, the former is decked with extra charges for traffic conditions or bad weather.

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As obvious as this may sound, you must avoid the items written above. Alter your spending habits and stick to your realistic budget!

Sources: 1, 2,3, & 4

Throw An Amazing Kids’ Birthday Party On A Budget

You do not need to break the bank to shower your little one with affection! Here are four simple tips to keep in mind when throwing a birthday party on a tight budget.

#1: IT PAYS TO PLAN AHEAD

A surefire way to avoid overspending on the essentials is to plan the party in advance. Party essentials include the balloons, loot bags, banners, and tableware. You can reap many benefits from your forethought. Firstly, you can compare prices from different shops. You can have items shipped from overseas too! You do not need to pay extra for express delivery or overspend due to last minute purchases, because time is on your side.

Lastly, having a timeline allows you to watch out for the bargain bins or to buy in bulk at dollar stores. Assemble your own loot bag by purchasing S$2 brown or white paper bags from Daiso and decorating it with colored markers. Put a multitude of sweets and stickers that are also available at Daiso, for the same price.

#2: REVAMP WHAT YOU HAVE

Turn your preloved or underused items into party treasures by using your decorative supplies. Unleash your fondness for glitters and glue to make the invitations. Jazz up the balloons by using metallic markers. Beautify your photo-booth backdrop by displaying a scarf.

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When you are done with your DIY projects, stick to the affordable basics for everything else.

#3: LOCATION IS THE KEY

Without a shadow of doubt, one of your biggest expenses is the party’s venue. Save money by hosting an intimate party at your flat. If your home does not have enough space, parties can be hosted at the local park or playground.

Consider having it at the Tiong Bahru Adventure Playground. Tiong Bahru Adventure Playground’s center has a train-themed structure that is perfect for your boy’s Thomas the Tank party. Children will surely love its little maze and merry-go-round.

#4: SAVE ON THE CAKE

The cherry on top of any birthday party is the cake. There are two ways to save on the center of attraction. You can either purchase a box of cupcakes (i.e., half a dozen can be layered up to form a pyramid) or bake your own. Make an easy sponge cake by following the instructions found here.

Image Credits: pixabay.com

Sources: 1, 2, & 3

Why We Cannot Resist A Good Bargain

We are constantly bombarded with attractive promotions and other fantastic deals whether we shop online or offline. In most cases, we cannot let these promotions pass by. Here are just some of the reasons why it is hard to resist a good bargain:

SCORING DISCOUNTS INCREASES HAPPINESS

I have been tackling a pile of paperworks for the past few weeks. I need to accomplish all my students’ documents before the new term starts. Needless to say, my stress level has been in its all-time high. As I was shopping for a gift, I saw a beautiful black dress on sale. It was on sale for 75%! How can I pass an attractive bargain like that? I felt good upon purchasing the dress.

The “pleasure” or “high” that we get from retail therapy highlights its ability to minimize sadness. Researchers from Stanford University, Massachusetts Institute of Technology, and Carnegie Mellon University found that the pleasure center (i.e., nucleus accumbens) activates when a participant saw a desirable object for sale.

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In contrast, an expensive item will cause the insula to be most activated. The insular cortex or insula is responsible for producing emotions which are relevant to your experience. Simply, it can evoke unpleasant feelings to steer you away from purchasing an item.

While shopping, our brains weigh between the immediate pleasure of acquisition and the immediate pain of paying. It seems that finding something you like and on a bargain can make you feel happier.

BARGAIN HUNTING ELICITS CONTROL

When was the last time you felt in control? Perhaps, you felt in control when the company event went smoothly as you planned. Or, when you found a S$20 bill in the street. Feeling in control is a positive thing in its general sense.

Dr. Dimitri Tsivrikos, a Consumer Psychologist, once said this statement in a BBC interview:

“The bargain price is appealing to you because it challenges the status quo. The retailer appears not to be in complete control of the final price of the product, and this makes you feel that you are now in control. And because of that you feel you can negotiate the final price that you have to pay – whether that is the sale price or even a buy one get one free deal…”

We tend to increase the likelihood of positive feelings by repeating our behavior such as bargain hunting. The positive feelings attached to it may cloud your judgement as to whether an item is actually a beneficial offer or not.

DEALS BRING EXCITEMENT

There are two types of “low pricing” models that retailers apply to attract the consumers. These are mainly the High-Low Pricing Model (e.g., H&M Singapore and their year-round sales) and the Everyday Low Pricing Model (e.g., IKEA Singapore’s core). The latter features low prices but no flashy discounts.

There is a sense of predictability with the Everyday Low Pricing model. You know that you will be receiving cheaper prices whenever you visit. However, some consumers seek adventure.

I remember the time when I bought a S$7 silk skirt, which previously retailed for S$30. I had to go through a pile of clothes to find the right size! Excitement is achieved upon scoring favorable deals in the “sale rack”.

IT BECOMES AN ADDICTION

Not skipping on an offer twice or thrice a month is acceptable. Constantly hunting for a bargain is another story. Addiction to bargain-hunting blurs out the value of an item and focuses on how big the price reduction is. Dr. April Benson, author and psychologist, highlighted that bigger price cuts are more tempting to purchase.

“If something’s 80% off the original price – you’re saving 80 percent! What you may not consider is that by not buying, you’ll save 100%!”

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Singaporeans who cannot resist the temptation of promotions may make illogical purchases such as purchasing children’s clothes for children that they do not have. They may not realize that they have a problem until the bank statements start catching up.

Sources: 1, 2, & 3

How To Survive The Daunting Night Shift

You have been scheduled to the night shift! The anticipation of working in the evening gives you constant anxiety. Why so? For starters, the night shift usually begins from 10 or 11 pm and ends by 6 or 7 am. Positions that experience this varying work hours include customer service officers, traders, and nurses.

The duties and responsibilities may be no different from the person who works in the daytime, but the night shift poses unique challenges. The workplace atmosphere and its uncommon nature requires the employee to make significant adjustments in his or her professional and personal life.

A friend of mine is a nurse who is currently shifting from morning and night shift. With the majority of his patients asleep, he must find ways to manage his workload in between the continuous monitoring of the patients and their documentations. The sudden changes in his sleeping and eating patterns were initially tough. However, he was able to adjust in time.

Before Your Shift

Adjusting to the sleeping patterns is a primary concern when faced with the evening post. It is understandably challenging to fall asleep during the day, especially when you are stimulated by external cues (e.g., beaming sunlight and city noises). You must create a comfortable sleeping environment to help you doze off. Somewhere relatively dark, quiet, and cool.

The next step is to assign a sleeping schedule and stick to it. Reset your body clock by waking up and going to bed at the same time each day. Developing a healthy routine will help you adjust at a quicker pace. Alternatively, you may take a power nap before your shift begins. A power nap lasts between 10-30 minutes. Going beyond 30 minutes will put you at risk of feeling groggy or weak. It takes a considerable amount of time to conquer this unpleasant feeling. It is best to stay disciplined.

During Your Shift

Another concern that you must address is the way you eat. It is better to munch on small portions throughout your shift than having a massive meal before it starts. You see, the change in your physiological patterns can make your digestive system more sensitive. A heavy meal becomes difficult to digest than lighter ones. Healthy snacks such as apples and nuts can boost your energy levels while you work.

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Let us move to your caffeine intake. You may think that coffee will help you stay alert throughout your exhausting shift, but that is just counterproductive! Consuming coffee or other caffeinated drinks during your shift makes affects your sleeping routine. You may not be able to fall asleep immediately when you get home. So, stay awake by engaging in an interesting conversation with your co-workers or clients. Actively absorb the conversation. Who knows? Your co-worker may share some tips to cope with the shift transitions.

After Your Shift

Working the night shift can have adverse effects to your physical and mental health. You are more likely at risk of experiencing insomnia, high blood pressure, menstrual irregularities, and weight gain compared to “day shift employees”. Experts stressed the importance of effectively monitoring one’s health. Taking care of your health refers to knowing when to stop. It is as simple as taking a cab home rather than driving by yourself.

On the other hand, taking care of your emotional well-being entails strengthening of your relationships outside work. The night shift isolates you from your friends and family members who work or study in the morning. You can no longer be a part of spontaneous hangouts, nor join for family dinners. It takes conscious effort to make appointments with the people whom you love. Make time for your friends, partner, or family members by meeting on the weekends or by requesting a leave.

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Do not let your important relationships fade away!

Sources: 1, 2, & 3

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