MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Do You Really Have What It Takes To Be A Trader?

Do you want to trade as a career but, you do not know where to start? How about you get to know yourself first?

Begin the journey by examining your relationship with money and life. Do you view life as a daily struggle or as an endless opportunity? Have you lost money recently through your daily activities and are you hoping that the financial markets will treat you better?

Wherever you are right now and whatever your belief system is, your personality will influence your perspective on your profits and losses. This is why it is important to include self-worth into the mix. Analyze your strengths and weaknesses and examine whether you have what it takes.

Marc Pearlman shared his observations based on his experiences as a professional trader and money manager. According to him, here are the tangible qualities that aid in success at day trading:

1. POURING HARD WORK

It is no surprise that hard work tops the list. Since trading is a skill, it needs to be developed through time. A lot of people view trading as a hobby or as a substitute to gambling however, this should not be the case. People only end up bad when they treat financial markets as casinos and not as businesses.

2. PRACTICING DISCIPLINE

Marc compared trading to going to the gym. For example, people may have been frequenting the gym and yet have no noticeable changes in a year. He says it is be due to the lack of discipline and goal-setting, which I agree on. Trading is no different. You must have discipline and concise strategy to reach your goal!

3. KNOWLEDGE IN PROBABILITIES

Making money through trading does not mean that you have to be perfect all the time by making right calculations. Instead, the key is to lose as little as possible when your call is wrong and gain as much as possible when your call is right.

4. LETTING GO OF THE DESIRE TO BE ALWAYS RIGHT

If you would rather be right than make money then, trading may not be for you. In trading, you cannot be right all the time! Furthermore, some may even be wrong more than they are right.

Image Credits: pixabay.com (License: CC0 Public Domain)

To accompany these desirable qualities, here is a website that I found that can help you test your skills in Mathematics, Logical Sequence, and more. You may adjust the difficulty by choosing either Easy, Medium, or Hard.

Shockingly Free Tips To Boost Your Confidence

Confidence opens more opportunities in business and in life but, how does one boost his confidence?

1. KNOWLEDGE IS POWER

When it comes to elevating your confidence, staying informed is essential. When you know what you are talking about, you are more likely to share, interact, and engage more. Thus, you are manifesting confidence throughout the day! So, you better hit the books before going to events.

2. POWER OF HUMOR

Laughter produces wonderful benefits in your physical and emotional well-being. But, you shall not burst into laughter and look inappropriate! Simply tell a joke or share a funny story with others and laugh along. The benefits of laughing are cumulative and profound.

3. MAINTAINING EYE CONTACT

You can project your power and assertiveness with your body language. With the people you interact with regularly, make it a habit to maintain eye contact and direct your gaze to them while you are conversing. This little gesture will show that you are interested, engaged, and confident.

4. GUIDED MEDITATION

Frequent meditation increases your mindfulness to the present state. It keeps you balanced and focused. It helps increase your confidence by washing out your stress and worries. Also, it allows you to mentally prepare for success.

There is an abundance of free guided mediation videos on the Internet but I recommend this 10-minute video:

5. PRACTICING GOOD POSTURE

Constantly touching the strands of your hair or pulling your pigtail is a surefire giveaway that you are nervous. Instead, walk or sit up straight with your arms uncrossed and chin up. You will appear and feel more confident afterwards.

6. HELP FROM YOUR FRIENDS

Feeling down and incapable? Are you scared to do something new and difficult? Try seeking the help of your friends. Call them over the phone, write them thru email, or private message them via social media platforms and ask why they believe you would succeed. Knowing your positive qualities will help you feel more motivated, energized, and confident.

Image Credits: pixabay.com (License: CC0 Public Domain)

Sources: 1 , 2 , & 3

4 Ways To Save Big On School Supplies

I can still remember the time when my mother distributed school supplies to me and my other siblings. It was a rush that I get every time I fill my bag with new stationery items. But, behind that joyful rush is a mother that just spent her hard-earned cash on supplies!

This is why it is important to save as much as you can while shopping. Start by setting aside extra cash each week before the school starts. Then, follow these 4 tips:

1. KIDS MATTER

Children play a huge role on what goes inside your basket. If you have the option to leave your child at home with a family member or a babysitter then, do so. Going on a shopping trip alone will ensure that you do not have to give in to what your kids wants. Furthermore, you would save a lot more in your bill.

2. KNOW WHAT TO BUY

Come prepared to avoid getting overwhelmed with the abundance of school supplies available. Make a shopping list that is in lined with your budget and stick with it. If you are shopping for more than one kid then, organize the list by making a column for each. And, if the school provided a list of mandatory school supplies then, it will give you an opportunity to save money beforehand.

3. SHOP ONLINE

Be patient and purchase online. There are many retailers that offer promotions and clearance sales on their own website. Also, you get to save on gas or transportation fee. Lionstationery.com.sg and Evergreen.com.sg are the two stationery websites you can visit.

4. QUALITY OVER PRICE

If you are only focused with the cost, you will end up replacing a bunch of items in the near future. Save more in the long run by buying quality items that you think your children will overuse for the whole school year such as backpacks and binders. Moreover, some of these excellent quality items can last for the next school year.

Image Credits: pixabay.com (License: CC0 Public Domain)

This is why you must buy supplies that have basic colors to stay on trend!

Sources: 1 & 2

Free Wedding Planner Tools For A Fantastic Wedding

According to Dictionary.com, a wedding planner is the person responsible for conceptualizing and organizing the wedding ceremony, the reception, and perhaps the honeymoon. A busy couple can certainly hire a professional wedding planner to take off the load on their shoulders.

However, if you have too much time on your hands and do not want to cast a hole on your pocket, you can take on the role of the wedding planner and DIY your way to your dream wedding!

1. WEDDING PLANNER CHECKLIST

So, you have a ring on your finger. Now what is next? Wedding Ideas Magazine shares checklists and tips for planning a wedding in 12 months, 6 months, and 1 month. The first sentence speaks volumes: “The secret to a great day is to start planning early!” Thus, planning a wedding 12 months in advance with this concise planner sounds like a good idea.

Available here: weddingideasmag.com/wp-content/uploads/files/downloads/Wedding-Ideas-Planner.pdf

2. BACHELORETTE OR HEN PARTY

Whether you are planning your own bachelorette or hen party or you are bestowing the responsibility to your maid-of-honor, coming up with the whole event can be stressful. To help you with this, you can use a guide or a checklist too for 12-24 months, 2 months, 1 month, and 1-2 days before the party.

Available here: weddingideasmag.com/wp-content/uploads/files/downloads/Wedding-Ideas-Magazine-Planning-Tool-Hen-Party-Checklist.pdf

3. WEDDING PLANNER SOFTWARE

Do you know that there is a no-cost wedding planner software available to support you in:

Designing the Floor Plan,
Managing the Guest List,
Tracking RSVPs,
Assigning Seating Arrangements,
Generating Guest List Reports,
Printing the Floor Plan,
Printing Place Cards,
Sharing event information with others, and so much more?

This wedding planner tool is called Seating Arrangement.

Know more about it here:

https://www.youtube.com/watch?v=6AfmxfzEtekfeatures.htm

4. WEDDING WEBSITE

To take your organizational skills to the next level, you can make a website for your special day. You do not need to have major tech skills or digital knowledge to get started with your own website. Simply use the reliable free website builders such as WordPress.com. Website builders already have the template, plugins, and coding for you.

Inside your website, include the guest lists, RSVP forms, meal requests, gift registry, gift wish list, and anything you want to include. Furthermore, with the help of your website, guests can easily collect and share photos on their Facebook, Instagram, and other social media platforms.

Image Credits: pixabay.com (License: CC0 Public Domain)

How To Stay Healthy Despite of The Terrible Hazy Conditions

Our air quality worsened on Monday due to the shift in the prevailing winds that brought denser haze from Sumatra. In fact, the 24-hour Pollutant Standards Index (PSI) entered the “unhealthy” range last Sunday according to the National Environment Agency.

For your knowledge, a PSI reading of 0-50 is okay, 51-100 is moderate, 101-200 is unhealthy, 201-300 is very unhealthy, and 301 and beyond is hazardous. At the time of writing, the 24-hour PSI readings from 1am-12am today ranges from 148-184. Yes! That is certainly unhealthy.

Short-term exposure to unhealthy haze can cause irritated eyes, runny or stuffy nose, dry or sore throat, headache, and fatigue. In some cases, it can even affect one’s heart and lungs that higher PSI readings can cause breathlessness.

So, how do you stay healthy despite the haze?

You must wear the N95 mask to ensure full coverage when you breathe. But, the best way is to stay indoors (with an air purifier and air conditioner) as much as possible!

While staying inside the walls of your home, you do not have to spend money or sulk in boredom. You can enjoy playing video games, board games, and a bunch of other activities like…

1. LEARNING SOMETHING NEW FOR FREE

Upgrade your knowledge and skills with the quality online resources that are available for free. There are two websites that I am fond of namely: Khan Academy and Code Academy. Khan Academy offers a myriad of courses and exam preparation modules. While, Code Academy offers classes in 6 different programming languages. You can definitely complete the course and be well versed in several programming scripts!

2. EARNING EXTRA MONEY

Use your free time to earn extra money by selling your underused and unwanted items on Gumtree or Carousell. Then, spend more time by cleaning up your closets and drawers in the process.

You may also complete some online surveys and get compensated with cash or redeemable rewards in websites such as My Survey and SurveyCompare.

3. QUALITY TIME WITH THE FAMILY

Lastly, use this valuable time to enjoy the company of your family. Catch up on the lives and the latest projects of every family member and indulge on a great session of cooking, games, or movies. These kind of moments are best spent with the ones you love. 🙂

Image Credits: pixabay.com (License: CC0 Public Domain)

Sources: 1, 2, & 3

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