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Decoding 6 Weird Financial Slang For Your Use

Conversations about finance and business can be painfully dull and complicated at times. I can forgive you if your eyelids feel droopy after an hour-long presentation filled with profit margins, projected income, and other related topics.

This longstanding industry is filled with lively jargon and phrases that are used to describe trends and practices. Here are just some of them:

1. COCKROACH THEORY

Nope! I am not talking about the disgusting pest that my sister hates. The Cockroach Theory occurs when a company reports ill news to the public and covers up more behind the scenes.

2. PUKE POINT

The “Puke Point” refers to a time when an investor can no longer tolerate his or her losses and decides to sell the asset instead. The investor does so regardless of the asset’s steeply falling price.

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3. BIG UGLIES

Companies in the industrial sector like mining or steel are informally termed as “Big Uglies”. Although investing in these companies can bring one steady returns, some investors ignore them in favor for trendier stocks.

4. FREAKY FRIDAY

Freaky Friday occurs on the third Friday of December, March, June, and September. This phenomenon is also called Triple Witching. At this time, the stock market index options and futures expire in one day. This leads to great volumes of trading as investors try to offset their options and futures before the time is up.

5. WOODY

The Woody may sound like a friendly cartoon character, but it is not one. It is a slang that describes the market’s fast and strong upward movement. Have you seen this happen lately?

6. RAZOR-BLADE MODEL

When businesses sell two goods that depend on each other for different prices, they employ the Razor-blade Model. One part is sold cheaply and the other is sold for a higher price.

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Apple’s iPhone immediately came into my mind when I heard about this model. iPhone’s accessories are sold separately. Furthermore, its charger is not the most durable in the market. People are urged to buy a new hefty charger once their old ones have broken down. The cost adds up.

Sources: 1 & 2

You Must Put These Items In Your Financial Bucket List

Tandem skydiving in Miami…check! Owning a car…check! Climbing Mount Kinabalu…check! Scuba diving the Great Barrier Reef…check!

These statements are just some of the items that you can put in your bucket list. Most of these do not come cheap! Hence, you must ignite your passion for getting your finances in order. Add items that will relate to achieving the bigger financial picture. Here are just some that I can suggest:

1. DIMINISH YOUR CREDIT CARD DEBT

Instead of wishing for a million dollars in your savings, it will be easier to pay off your credit card debt. Numerous personal finance experts advocate making a “list of debt” and starting with the highest interest rate. Afterwards, the person shall focus on the rest. This can be effective in the long run.

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However, using the “snowball strategy” can be effective too. This involves eliminating all the smallest items first before working your way to the highest items. After all, the most important thing is to pay more than the minimum.

2. HAVE A SUFFICIENT EMERGENCY FUND

How many times have you read an article that discusses about the mere purpose of having an emergency fund? Too many to mention, right? For individuals who are trying to turn their finances around, saving up a sufficient emergency fund is a milestone that is worthy of celebration.

Re-frame your thoughts and peek into the future! If you have plenty of wealth to tap, you can finance a trip to Australia or other items in your bucket list.

3. SAVE FOR A 7-DAY VACATION

Requesting for a significant time away from work can be difficult to sell to your employer. But, you can argue that taking a week-long vacation can rejuvenate your mind and body. Taking care of your wellbeing will make you more productive at work.

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Remember that you will likely need to achieve many other goals on your financial bucket list before taking a sabbatical. These other goals include paying off debt and setting an emergency fund.

Sources: 1, 2, & 3

Exploring Other Lifestyles That A Singaporean Can Have

Bidding farewell to the mainstream lifestyle and jumping into the wagon of alternatives can be a little scary. For starters, it mixes various subcultures and applies different financial approaches. Are you ready to glance through some of your potential options?

Well, let me start with an option that is relatively expensive to maintain. I shall dub this lifestyle as the “YOGAHOLIC“. Having a Yogaholic lifestyle consists of a balance between work and leisure.

Several years ago, I worked at a fitness studio. This allowed me to cultivate lasting friendships with a few of the Yoga teachers. Many of them led a Yogaholic lifestyle. They frequently go to wellness retreats to rejuvenate their bodies and mold their skills. You do not need to be an expert at Yoga to reap the benefits of a wellness retreat! Two retreat centers came into my mind as they are near Singapore. Enjoy a serene getaway at the luxurious center called The Farm. Located at Batangas (Philippines), The Farm creates a well-rounded program to aid you in restoring your balance. Try their signature spa treatments while you are in there.

The other famous spot nestles in the heart of Ubud (Bali). The Yoga Barn offers daily yoga classes and workshops to establish holistic healing. Embodying the Yogaholic lifestyle allows you to deepen your practice and to adapt healthy eating habits.

Now, let us drastically tip the pointer on the cheaper scale. Let us inspect a way of life that limits one’s spending – the “MINIMALIST” lifestyle. A genuine minimalist does not step out with a pair of brown sack-cloths with hoods or step out of a Muji catalog. Instead, a minimalist tries to purchase as little as possible. This idea contradicts with the materialistic culture that Singaporeans had build. Just notice how many times an average citizen changes his or her smartphone!

Start leading a minimalist lifestyle by keeping your wardrobe simple. You do not have to wear the same shirt or same outfit everyday. Instead, you must avoid hefty designer clothing by purchasing clothes from thrift shops or clearance sales. Do not be afraid to repeat an outfit for a different occasion. Take a hint from the Duchess of Cambridge herself.

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The last lifestyle marries the aforementioned ones together. It prefer to label it as the “ECO-CONSCIOUS” way. Going eco-conscious creates a balance between Mother Earth and its inhabitants. Furthermore, it uses controlled consumption and later saves you money. The conscious effort to create less waste and choose fresh produce will help build a sustainable country that new generations can indulge on.

You may not be ready to join the divergent train, but some of these alternative lifestyles are actually good for your finances. Would you at least consider one option?

Sources:1 & 2

What Not To Do When Requesting For A Raise

Your heart is racing fast and thoughts continue to run into your head. You are about to ask for a pay raise. The best outcome that you can imagine is getting more than what you requested. However, you will be happy to see a small bump up your monthly salary.

Let us face it! When requesting for a raise, there are only a few ways to get it right and many ways to get it wrong. Here are just some scenarios that pertain to the latter:

A STORM OF ULTIMATUMS

Roger came into the room equipped with his egotistical tone. He said: “If I do not get a 20% raise, I am quitting today.” Like Roger, it is natural to crave for fair compensation. Our employers need to see how valuable we are. But, you do not have to waltz in the room with your ultimatums. You may end up quitting abruptly just to save face!

Treat the act of requesting for a raise as a business negotiation. Psychological strategies and conversation tools can sway the opinion of another through a pleasant exchange.

A PERSONAL TURMOIL

Your personal problems including the monetary ones are your problems alone. You took the coveted job and accepted the employer’s offer. I know that emotions can run through the roof when you feel like you are getting duped. However, it is not professional to blame your boss or unload your emotional turmoil onto him or her.

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Calm down and clear your inner conflicts before you discuss about your pay.

A COMPLAIN MENTALITY

In a 2015 interview, local comedian Hossan Leong highlighted that we live in a society driven by the “complain mentality”. He proved this by saying: “One complaint and everyone is up-in-arms. There is a knee-jerk reaction.” Do not let this mentality affect your actions when asking for a raise!

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Your argument should not be based on what your co-workers have that you do not. Instead, it should be based on your accomplishment and performance. Find out the average salary ranges for your position by visiting informative websites such as Payscale.com and by asking credible resources.

Sources: 1 & 2

You’re Flushing Money Away With These Grocery Habits

Since most of us consume food at least three times a day, a weekly trip to the grocery store is unavoidable. We do it on a regular basis until our actions steer into autopilot. More often than not, we idly shove familiar items into our carts and neglect better judgement. It is time for change!

You are flushing your money away with these automatic grocery habits…

#1: NEGLECTING THE EXPIRATION DATES

Say you entered the nearby grocery store and noticed the flashy brand deals. Oh! It is surely tempting to see your favorite items in the “marked down” section. However, some brands lower their prices to get rid of items that are reaching its due date. This is why you must allot a few seconds to check the expiration dates of the items before placing them into your cart. Doing so will save you an additional trip to the store and prevent the buyer’s remorse.

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#2: SHOPPING WHILE YOU’RE EMOTIONAL

If you want to fill your cart with unnecessary items, shop while you are emotional. Grocery shopping when you are “hangry” (i.e., frustrated due to hunger) is a recipe for disaster! It will not only make you reach for more items, but it will also make you lean towards unhealthy ones. An empty stomach may puncture a hole into your pocket just to satisfy its cravings.

#3: FALLING FOR THE BRANDS

Many people stick to the same brands as these have worked for them in the past. Shopping with raging brand loyalty makes you miss out the competitive products of other brands. Other brands may carry the same product quality with significant improvements and attractive deals. So, shake things up every now and then. Do not be afraid to explore the store brand or the generics too!

#4: SHOPPING WITHOUT A PLAN

You will not be able to control your spending habits (and transportation costs) if you enter the grocery store without a plan. Customize a meal plan for the week to set the tone of your shopping list.

Image Credits: pixabay.com

When money is tight, you cannot afford to go to the store spontaneously. Trust me, it rarely works!

Sources: 1 & 2

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