WFH tips to help you stay motivated

A mum working from home with a child

Working from home can be wonderful, and that’s why some professionals are hoping it won’t end. If you’re one of the lucky ones who don’t need to return to the workplace from 5 April, we’re glad for you!

While it can be difficult for parents with children, the comforts of being in one’s safe space can sometimes make it easier to focus. Who doesn’t love having the power to turn on their favourite tunes and adjust the air-conditioner to one’s desired temperature?

However, there are ugly truths to it. You would probably agree that your work-life balance has gone haywire and might make you even lazier than before. Not needing to be up early, dress up, or having eyeballs watching you surf the net mindlessly can make it easier to become demotivated.

If so, how can we enjoy the benefits of working from home while staying motivated enough to be productive? Here are some tips to help you stay motivated.

#1: Set a schedule

When working from home, it is easy to develop lousy scheduling habits.

The temptation to turn on your work laptop in bed or check your email from the couch after 6pm can be hard to resist. Thus, it is crucial to set boundaries around your work life and ensure that you work during specific hours and rest when it’s time.

Setting a regular schedule will also improve your sleep pattern and your health in general. 

#2: Get dressed before 9am
a man adjusting his tie

Image Credits: The Western Journal

Suppose that you start work at 9am, then dress up as you would if you were heading to the office.

Putting on a corporate outfit may help us refocus our mindset that it’s time to get the workday started. It’s almost the same theory as when you change to workout clothes before hitting the gym.

Treat this form of fashion as a boundary for yourself. When we have “work clothes” and “casual clothes” on, it can aid us to distinguish the kind of behaviour we should be engaging in.

#3: Separate your workspace

It is comfortable to work from our nice beds or comfy couches. However, humans are creatures of habit.

Associating our sleep areas with our work can interfere with sleep patterns. Similarly, working in a space we associate with relaxation can be a challenge for getting jobs done.

If you’ve been doing that, maybe it’s time you set up a dedicated, separate workspace to help you stay focus on completing your daily tasks.

#4: Work in chunks
a woman working at home with a table filled with documents

Image Credits: HRM Asia

Chunking is a strategy to take if you are often assigned large tasks. By breaking it down into smaller chunks, it is made more approachable and less discouraging.

For example, reading a lengthy report is hard, but reading one section can be a cinch. Instead of worrying that there is a detailed report to write this week, focus on completing a small unit within a stipulated time frame.

That is a much more achievable and far less daunting goal.

#5: Use the 30-minute technique

Speaking of breaking up big tasks into smaller ones, the 30-minute technique might go hand-in-hand.

We’re often faced with tasks that we find boring. Or perhaps you would rather prefer to be doing something else. Whatever the case may be, make yourself a deal when you find it hard to get started.

Tell yourself that you will work for 30 minutes and then take a short break. Most of the time, you might find that once you build a little momentum on a task, it’s easier to bring it to completion. Even if you don’t, working for 30 minutes is better than idling without getting anything done.

#6: Take a short walk before dabao-ing lunch
Singapore residents exercising

Image Credits: The Straits Times

Our brains need breaks. One of the best things to do on a one-hour lunch break is to go outside.

Instead of ordering in using GrabFood, foodpanda, or your go-to food delivery service, why not take a short walk before you go dabao your lunch?

Heading outdoors exposes us to sunlight and fresh air, which your body will thank you for. Plus, the change of scenery and pace is an excellent way to refresh your eyes and brain. Who knows, you might even gain new inspiration for an idea or project you’re stuck at?

#7: Give yourself a reward

Deciding to treat yourself to your favourite snack for dinner if you draw up that PowerPoint presentation for your boss can help push you to get started.

Or maybe you’ve been wanting to watch that latest launch on Netflix but haven’t started yet. If so, why not settle your job’s administrative work first and then tune in as soon as the clock strikes 6pm?

A little incentive as a nudge can go a long way to keep you moving.

Final thoughts
a woman working on her laptop

Image Credits: MSIG Singapore

Working at home can be an enriching and desirable lifestyle. But that lifestyle does bring unique challenges if we allow it to rule our lives.

If you need some motivation, try following some of the abovementioned tips to establish boundaries between your work and home life. This could help you manage your workload during the day and officially “knock-off” from work when you should.

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Decoding 8 Common Dreams About Money & Success

Weird, hilarious, senseless, or symbolic are just some of the words that you can use to describe your dreams. It should not really make sense at first because dreams are encrypted messages from our unconscious mind. This is the reason why some dreams are worth interpreting.

Different theories surround dream interpretation. For instance, Sigmund Freud (Austrian neurologist and the founder of psychoanalysis) argued that dreams are disguised fulfillments of repressed wishes and motivations. Carl Jung, on the other hand, saw dreams as prospective and universal. He believed that our dreams have universal meanings across cultures. Their works paved way for the creation of dream dictionaries.

Decoding our dreams may bring awareness to our conscious mind. All you need is to identify the central symbols or themes and look at it as a whole. You can come up with two more or more interpretations for a specific dream sequence. All these interpretations can fit your life.

Now, let us focus on the dreams surrounding money. Dreams about money can represent concepts such as love, responsibility, time, energy, friendship, and more.

WASTING MONEY

If you dreamt about spending a lot of cash in a dream, what could this mean? Well, spending a lot of money in your sleeping state can be a sign that you are carelessly spending in real life. Take cues from your unconscious mind and consider being more intentional when it comes to your purchases.

In its latent form, wasting money in a dream can be associated with how you obtain your goals. If you feel like you are wasting your money in a dream, this can mean that you are wasting your energy on something in real life. You may reprioritize some categories in your budget to stay closer to your goals.

LOSING MONEY

Losing money in a dream may be a sign that your actual financial state is unstable. It can represent a general worry that things are beyond your control or an unpleasant feeling that your finances are out of control.

Focusing on what you can control takes discipline. It is a practice that takes conscious effort and energy. You may start by assessing your cash flow.

WINNING THE LOTTERY

Many people fantasize of winning the lottery. In fact, the next TOTO draw is today at 9:30 pm. Its estimated jackpot is at $8,000,000 (as of April 1, 2021). Who would not want to win that? In dreams, winning the lottery can be seen as a life-changing stroke of luck.

Dreaming about winning the lottery can be associated with freedom, responsibility, and happiness. It is not just about monetary gain. You may interpret it as gaining recognition or friendship. Alternatively, you may interpret it as not taking responsibility for your own actions or decisions.

OWNING A LUXURY CAR

A friend of mine once shared about his dream of driving a car. In his dream, he was driving a red luxury car while going around town. According to dream dictionaries, driving a car can mean many things. For starters, a car can represent one’s ability to efficiently make decisions in each situation. When a car is being driven fast, it can be an indication that you are currently feeling stressed out.

Let us go back to my friend’s dream. Driving an expensive vehicle in a dream may mean that you feel like you have an effective strategy in place. Moreover, driving a red car is seen as a symbol of love. His dream may be interpreted as his journey towards finding someone special.

STEALING MONEY

Stealing money in your dream may be a sign that you are willing to do whatever it takes to get what you want. How you feel about acquiring the money can also be an indication of how you feel about going through extreme measure to accomplish something in real life.

Are you willing to exhaust all your efforts to reach what you want in life? This is worth pondering about!

HUNTING FOR A JOB

The act of searching for a job in a dream can mean that you are seeking for a new challenge or personal improvement. It may also indicate that you are having a hard time with your current position and you are looking for a new one.

LENDING SOMEONE MONEY

Lending someone money in a dream supposedly means that you are letting people borrow your time, energy, or attention. Who are you lending the money to? This may indicate that you are worried about a friend who is going through a rough time or a family member who has been making some questionable decisions in their career.

Nonetheless, it can be your unconscious mind’s way of telling you that you need to pay attention to these people.

CLIMBING THE STAIRS

For the past few weeks, I noticed a recurring symbol in my dream. I often dreamt about climbing the stairs. Its frequent occurrence ignited my curiosity in interpreting my dream. Dream dictionaries often associate stairs with progress in certain areas of your life. It can represent feelings of success, failure, fear, and improvement. These feelings depend on whether you ascend or descend a staircase.

If you are happily ascending the flight of stairs, it may mean that you are confident in the face of promotion or moving forward. It can also mean that you are undergoing growth in your experience. In contrast, going down the staircase can mean that you are feeling overlooked for a promotion or you feel like you are descending from a personal stature. It can indicate feelings of failure.

Image Credits: pixabay.com

DISCLAIMER: The meanings behind the dreams are subjective. While others believe that dreams have symbols attached to it, some may see it as mere electrical brain impulses. It is up to you to interpret your dream symbols and how they apply to your personal life. Ultimately, dreams can help you alter your direction and show your innermost emotions.

Sources: 1, 2, 3, & 4

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Join 200k Investors in SEA to Invest with this Award Winning Investment Platform and Get $20 Cashback

Peer-to-Peer or more commonly known as P2P lending started in the US and UK in 2005, and has since taken the world by storm. Back home in Singapore, P2P lending contributed to approximately USD 207 million in financing offered to businesses here in 2020. Investors on P2P lending platforms can participate in these financing and earn returns in the form of interests. 

Take for example Funding Societies, a popular P2P investment platform amongst Singaporean investors. It is currently licensed in Singapore and has operations in 3 other SEA countries. Backed by Sequoia India, Softbank Ventures Asia, SGInnovate amongst many others, the platform has grown at a rapid pace since launching in Singapore 6 years ago. Here are some things to note when investing with Funding Societies:

  • Low barrier to entry: Investors can invest as low as $20 per loan
  • Short tenor: Investment tenors are quite short ranging from 1 to 12 months
  • Returns on Investment for each Product Type: Interest rates usually range between 
    • 3% – 5% per annum for a Guaranteed Investment product;
    • 6% – 8% per annum for a Property-backed investment product;
    • 8% – 18% per annum for Invoice financing and Working capital related investments products

Risks and Returns of P2P lending in Singapore

Investors are able to invest by crowdfunding the business financing available on the platforms and potentially earn returns in the form of interests typically ranging in the mid to high single digits. The investment amount starts as low as $20 at Funding Societies, which investors can leverage on for their portfolio diversification. Depending on the loan product, payouts can be done monthly so investors get their investments and returns in a shorter time frame. Compounding returns, as well as a rather short learning curve, are also attractive incentives as well.

That said, repayments can be delayed or go completely unpaid. This is why it is imperative for the P2P lending platform to first do a preliminary round of due diligence and present the facts comprehensively to investors, before allowing investors to decide whether or not to proceed. There is also a risk of the P2P lending platform shutting down if it is not financially stable on its own. To mitigate this risk, P2P platforms regulated by MAS can engage an independent escrow agent to handle all investor funds separate from its business account, such that the escrow agent will hold the  funds even if the platform goes under. Funding Societies does just that to provide peace of mind to investors. As such, there is a need to do your due diligence and ensure such investments match your risk appetite.

Get a S$20 cashback when you sign up on Funding Societies with the exclusive promo code “MONEY21” and make a total investment of S$200 by 30th April 2021. 

How can Diversification help to minimise risks in P2P lending?

One of the largest risks in investing in a P2P lending platform like Funding Societies is the risk of a SME defaulting. Portfolio diversification by means of investing into a good mix of notes and industries on the platform is one way to mitigate concentration and default risks and optimize your portfolio returns in the long run. 

Taking the above scenario as an example, we see that Andy invested S$800 into a single deal and this single investment makes up 50% of his overall portfolio. Whereas in the other scenario, Emma invested S$50 uniformly across 100 deals, making a single investment just 1% of her overall portfolio. In the event that Deal A defaults, Emma’s potential loss will only be 1% of her overall portfolio whereas Andy might face a potential loss of half of his overall portfolio.

Conclusion

Although P2P lending is still a fairly young industry within Singapore, the demand is ever increasing. Given that 99% of businesses in Singapore are SMEs and that the returns on investments typically range in the mid to high single digits interest rate per annum, P2P lending in Singapore serves both the needs of SMEs and investors. With all that said, it is important for investors to do their own due diligence and measure the risks involved against their own risk appetite. 

Get a S$20 cashback when you sign up on Funding Societies with the exclusive promo code “MONEY21” and make a total investment of S$200 by 30th April 2021. 

Terms and Conditions apply

Investors must sign up with the aforementioned promo code and make a total investment of at least S$200 by 30th Apr 2021 to be eligible for the $20 cashback. Cashback will be credited into the eligible investors’ accounts by the end of May 2021. Funding Societies’ investor T&Cs apply.

Funding Societies is the largest SME digital financing platform in Southeast Asia. It is available  in Singapore, Indonesia, Malaysia and Thailand, and backed by Sequoia India, Softbank Ventures Asia Corp and SGInnovate amongst many others. It provides business financing to small and medium-sized enterprises (SMEs), which is crowdfunded by individual and institutional investors. Investors can invest from as low as S$20 with a tenor of no more than 12 months. 

Disclaimers:

This article is contributed by Funding Societies.

It should not be construed that Moneydigest is endorsing this article or any of the products and services provided by Funding Societies.

The content and materials made available are for informational purposes only and should not be relied on without obtaining the necessary independent financial or other advice in connection therewith before making an investment or other decision as may be appropriate.

Actual returns may be lower than the expected rates of return, and historical rates of returns may not reflect future returns. The Product type interest rates indicated in the article are derived from historical rates of returns and are exclusive of service fees.

All information in this article is accurate as of 29th March 2021

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What to do when you feel like giving up

a stressed woman sitting in front of her desk

Life isn’t easy, and that’s the truth for everyone. No matter how put together your peers may seem on social media or real life, we all go through our challenging moments that can make rising out of bed the most difficult task to do in the morning.

From rough patches in our careers to tensions in our relationships, there can be a sea of reasons why we feel like giving up. When things have been hopeless for such a long time, and the universe seems like it has an agenda against us, walking away can feel like the most natural thing to do. 

However, there’s always a way to move forward and find light in the darkest of situations. Let’s dive right into what you can do when you feel like giving up.

#1: Rediscover your reason

As time goes on, it can be difficult to remember why you started something in the first place, whether it be a job, relationship, or business venture. You might have strayed so far from your original vision that you simply fell out of passion.

However, it’s possible to gain instant motivation. Sit down for a moment and think about your ‘why.’ For example, these questions might help:

  • Why did you start your business?
  • What’s the main reason for pursuing this relationship?
  • Why did you fight for this job opportunity in the first place?

By thinking through your initial motivations, you will break through the clouds to find the clarity that will keep you going in life. Every quarter of the year or so, be sure to reflect on your ‘why’ to keep at what you’re doing.

#2: Embrace discomfort
an asian man looking at his laptop

Image Credits: MarketWatch

No matter how much we all hope that life would be constantly fun and worry-free, we know that that’s not what it’s supposed to be. The sooner you can embrace discomfort as part of your life’s journey, the faster you can move past your obstacles and reframe them to your advantage.

If life ever gets too overwhelming at some point, take time out to breathe, focus, and reset. Life pushes you around to try to teach you a lesson. The sooner you seek to embrace the challenges it throws, the easier it is to keep moving along.

Check out our article on “five ways to lift pressure off your nervous system” if you’re undergoing vast amounts of stress and in need of some tender loving care.

#3: Engage in small acts of kindness

When you feel like giving up, doing small acts of kindness might be the last thing on your mind. However, it’s more than worth it to try.

The next time you’re out dining, smile at a stranger at the restaurant, or if you’re bold enough, strike up a conversation with your favourite hawker. If you’ve got more time on your hands, take a shot at volunteering and helping those who are in worse situations than you are.

Engaging in these little acts can help you gain perspective and make you feel a whole lot better. This quote by Barbara De Angelis rightly puts it, “Love and kindness are never wasted. They always make a difference. They bless the one who receives them, and they bless you, the giver.”

#4: Share your goals
two asian woman talking

Image Credits: vecteezy.com

If you’ve ever set goals for yourself, you might have felt far more comfortable keeping them to yourself. Honestly, there’s nothing wrong with that.

However, as we’ve mentioned in this article, you’ve got to embrace discomfort and open yourself up to vulnerability. You can start down that path by sharing your goals with people you trust and have them be your accountability partners.

They can help you stay true to your aims and show you that tough love to keep you on track, whichever point of life’s marathon you’re at.

#5: Reflect and have gratitude

It can be way too easy to dwell on your past or get overly obsessed with your future self. But it’s more than important to live in the present moment. Stop the motion of your life to observe the sky and the nature around you. Spend some time meditating if you must. 

Observe all the little good things that are happening, and take the time to be grateful for what you have. Also, never forget to acknowledge any past progress you’ve made, no matter how small you may think it might be.

The simple act of being thankful can transform your outlook on a lousy ditch you’re in.

#6: Give yourself a treat
two cups of bubble milk tea

Image Credits: bestinsingapore.com

Last but not least, always treat yourself.

You are your own worst critic, so go easy and hit that bed an hour earlier than your usual snooze time. Or book an appointment to go to the spa, lay on the couch and binge that latest Netflix series, drink your favourite bubble milk tea, and do whatever makes you happy.

After all, life is short. You should spend time building on your goals but never neglect the fun side of life to re-energise you when the time calls for it.

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4 Challenges of Budgeting in 2021

Stating that “2020 has been a tough year” is an understatement. Words cannot describe how much we have been affected by the past year. I, for one, was tasked to let go of employees due to financial constraints. It was not easy! It was one of the hardest decisions that I had to tackle because I have seen these people grow. Moreover, I felt responsible for their well-beings too. However, downsizing was essential for the company to survive.

Our stories may vary, but one thing remains the same. We have all endured the physical, mental, and financial toll that came with the pandemic. As we adapt to the “new normal”, we come to realize how challenging it is to keep a budget. You not only have to fight the urge of spending money, but you also must follow the budget despite unforeseen hurdles.

On that note, here are some of the common challenges that you may experience as you establish your budget.

#1: HIGH COST OF LIVING IN SINGAPORE

The cost of living in Singapore is one of the external factors that you have consider when making your budget. According to the Economist Intelligence Unit’s Worldwide Cost of Living (WCOL) survey conducted in 2020, Singapore ranked fourth in the global list of the most expensive cities. The WCOL is a bi-annual survey that compares more than 400 individual prices across 138 products and services in over 130 cities worldwide. Zurich, Paris, and Hong Kong preceded Singapore.

Whether you are a young working adult or a foreign migrant worker, you must set a realistic amount for your spending each month. Take each financial category into consideration. For instance, you should have at least S$700 to S$1,500 a month if you are renting a space. If you are eligible to purchase an HDB property, you should set aside at least S$1,500 to S$3,000 a month. Your daily expenses and your overall lifestyle may change to fit your budget.

#2: LABOR-INTENSIVE TRACKING SYSTEM

Many people are afraid of establishing a budget due to the labor-intensive tracking system. Tracking your spending and income may seem like a chore at first, but you will be more comfortable as time passes. Start by tracking your receipts and other spending through a notebook or a spreadsheet. The rise of apps paved way for computer programs that are dedicated to tracking your spending. Find an app that works for you!

Being diligent with noting down your expenses takes practice. If you forget to write down important receipts, inaccuracies in your budget may occur. You may notice that your savings account depleted without knowing where your money went.

#3: DIFFERENCES IN CASH FLOW MANAGEMENT

The means of getting your income can affect your budget. What is the frequency of your paycheck? The first company I worked for paid us every end of the month. In contrast, the last company I worked for paid its employees every two weeks. Getting your paycheck once a month can entail different issues.

For some people, they experience stress as they wait for the next paycheck to come. It is hard for them to make ends meet because they see their money disappear in the first two weeks alone. These scenarios highlight an issue of cash flow management.

Waiting for your next paycheck can cause stress and anxiety. If you are paid once a month, consider dividing your income per week. Allocate enough money for the remaining weeks by keeping them in your savings account. Doing this will enable you to create a system that resembles being paid on a weekly basis.

#4: EXPENSES EXCEED INCOME

Many families have been painfully affected with job loss, reduced income, and prolonged unemployment in the past year. Recovery takes time. However, our bills remain the same. The effects of pandemic and the limitations in our income will greatly affect how we budget our money in the year 2021.

Image Credits: pixabay.com

As I leave my full-time job this month, I will need to take serious lifestyle changes at heart. The first step is to eliminate all unnecessary spending. It is important to focus on the necessary expenses such as rent, food, healthcare, and transportation. The next step is to carefully track my expenses with budgeting tools. Lastly, it is important to become flexible when it comes to budgeting and to adjust my spending depending on my needs and income streams.

Cutting down one’s expenses is a sensible solution for the time being. Finding a permanent solution to this…is the challenge.

Sources: 1, 2, & 3

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