organization Archives | MoneyDigest.sg

How To Efficiently Declutter Your Personal And Financial Life

The perfect time to organize your thoughts, to arrange your bills, and to declutter your home is NOW! Here are five strategies that you can start with:

CLEANSE YOUR PHONE

We are constantly glued to our devices. I do not mean to be a bearer of bad news, but your devices are not entirely sanitary. Various researchers have found Escherichia coli bacteria, Streptococcus, and other pathogens living on mobile phones. It is important to employ measures to keep yourself healthy and to minimize medical bills.

One of the first few things that I do upon coming home from work is to cleanse my phone. I grab a couple of cotton pads and spray it with Isopropyl Alcohol. This helps me disinfect my phone as I am constantly in contact with relatively sickly children. You can adopt this habit too!

FLOSS YOUR PEARLY WHITES

Many experts encourage the importance of flossing in one’s daily grooming routine. A floss is designed to reach between the gums and the teeth. It acts as an efficient tool to lower the risk of gum disease, tooth decay, and periodontal disease.

You do not want to go to a job interview with a flaming bad breath!

PURGE YOUR ITEMS

Are you getting trapped under a mountain of rubbish? Tidy your space by practicing the one-item-in and one-item-out policy. This policy works by bringing a new item in and dropping an old item out. You can either donate, sell, or throw the old item. Doing this regularly will improve both your financial and mental health.

ORGANIZE YOUR BILLS

Never forget where you put the bills or when their due dates are by designating one place for them. You read that right! You have to decide whether you are going to file all your bills in a tangible box or in a computer folder.

Some bills arrive by electronic mail while some arrive by postal mail. Printed bills must be kept in a labeled box. While for virtual storage of bills, make scanned copies of those that arrive in the mail and put them into a labeled folder in your laptop.

EASE YOUR MIND

Create a healthy division between your work and personal life to lessen your stress. For instance, my co-worker does not respond to the client’s calls after 7 PM. You may do the same thing, if necessary. Another way to keep your mind at ease is by not checking your email before you go to sleep.

Image Credits: pixabay.com

It is inevitable to spot a message that will your mind buzzing all throughout the night. Furthermore, it may make you anxious to go to work the next day. Do you want that to happen?

Sources: 1 & 2

How To Motivate Your Employees Without Spending Money

There is an abundance of books, articles, speeches, and workshops that claim to know the secrets behind employee motivation. However, not all of these “secrets” work due to the lack of research behind them. This is why it is important to search for methods which are backed by the principles of Science, Social Studies, or Psychology.

Here are three of the well-renowned theories of motivation which can help you increase workplace productivity:

THE POWER OF GOALS

Goal-setting Theory suggests that properly set and well-managed goals increase employee’s motivation. To apply this theory at the workplace, a manager can assign some SMART goals to his or her employees.

Goal-setting and feedback go hand-in-hand. After communicating the goals, you shall track the performance of each employee in order for them to know if they successfully reached them. Proper execution of feedback will enable the employee to adapt the desirable behavior.

If a goal is met, reward your employee by giving recognition. You can personally acknowledge the achievements and efforts of your employees thru group memos, writing an email, handing a personal note, or awarding a certificate.

THE POWER OF OWNERSHIP

Proponents of the Job Characteristics Model states that jobs will have motivating potential if they offer variety, task significance, and task identification among others.

Let me focus on one aspect: task identification. It is the extent to which an employee feels accountable for the outcomes of the job to the point that it becomes an integral part of his or her identity. Increase task identification contributes to performance and job satisfaction.

Boost this aspect by letting your employees contribute to the planning, reporting, and evaluating phases of the projects.

THE POWER OF OBSERVATION

There is a tendency of people to work harder if they know that they are being watched or observed. Researchers dubbed this tendency as the “Hawthorne Effect”. It is named after a series of studies that was conducted at Hawthorne’s Western Electric Company. The studies measured the influence of physical working conditions on productivity. Rather than the physical changes in environment, employees were motivated to work harder as a reaction to the attention given to them.

Apply the Hawthorne Effect at the workplace by asking for your employees’ suggestions regarding their preferences in the working conditions. Then, ensure that you know what your employees are up to by providing regular feedback.

Image Credits: pixabay.com

Keeping your workers motivated is easier said than done. May these theories and its applications help you to accomplish your duties as managers or business owners!

Sources: 1, 2, & 3

Brilliant Ways To Simplify Your Finances

1. UNTANGLE YOUR STREAMS OF INCOME

If you are juggling through your day job, online business, personal blog, and weekend side-job…take a breather!

Multiple sources of income sounds great in theory but it can be very challenging at times. I can attest to this statement as I am freelancer. When new opportunities are handed to you, analyze if you (and your schedule) can handle another weight. You do not want to waste your precious time on things that are not necessary.

2. ALLOT MONEY USING LAST MONTH’S INCOME

Budgeting your money is efficient for two reasons. It brings you a sufficient cushion as you are a month ahead of your bills. Also, it is very helpful for people with irregular income.

Image Credits: wikihow.com/Do-Envelope-Budgeting

3. CUT DOWN YOUR BANK ACCOUNTS

In a world filled with choices, most people have several number of financial accounts. You may have an account that brings highest interest or another that brings the highest shopping rebates. More than being complicated, the constant shuffling between these accounts can get messy. This is why you must narrow down the number of your accounts.

4. REDUCE YOUR JUNK

Reduce your physical and virtual junk authorizing creditors or vendors to issue bills using one method. If you want to go paperless, keep digital copies of your important documents on the “cloud” or on an external hard drive. If you are old-fashioned, organize all your documents in labeled folders or boxes.

5. SET SMART FINANCIAL GOALS

Develop a habit of financial goal setting to know where you are going and to plan how you can get there. Write down your financial goals with a trusted witness and contemplate the monetary milestone you would like to accomplish in the next 2 to 5 years. Track down your monthly progress.

6. CONSOLIDATE YOUR BILLS

Are you tired of receiving 3 separate bills for your landline, hand phone, and internet services? Consider consolidating all of them in a single bill by signing on bundled services. For example, Singtel’s Fibre Home Bundle (1 Gbps) offers the following:

a. Fibre Broadband,
b. Wireless Dual-band Router
c. 4G Mobile Broadband Plan, and
d. Home Digital Line with free unlimited local calls.

This plan costs S$59.90/month with a contract of 2 years. What is nice about this plan is that it offers an additional “10% off monthly Mobile subscription” (T&C apply).

Image Credits: pixabay.com

By bundling these services together, you just eliminated 2 monthly bills!

Sources: 1, 2, & 3

3 Life Events Where Time Management Is Financially Crucial

Your heart is pounding as excitement and uncertainty clouds your mind. You are about to make a life altering decision. Pause for a moment. Before you do anything else, consider its financial outcomes.

Whether you are rendering your resignation or planning your engagement proposal, all these huge decisions can make or break your wealth. This is why it is important to have a substantial amount of time to analyze every factor including time itself.

To do this, you must master the art of time management. Time management refers to the way you organize and sort out how long you spend on specific tasks. After all, we are equally given the same 24 hours. Let us make the most of it!

For instance, here are some life events where time management is financially crucial…

1. GETTING MARRIED

Save lots of money by scheduling your big day during off-peak months. Generally, getting married in “off-peak” months such as November, March, and April can be less expensive than marrying in “peak” months such as December and February. However, you must always be cautious of the venue’s weather and conditions.

During off-peak months where the demand for weddings are lesser, couples get to negotiate for better prices. Tying the knot in these months means taking full advantage of the discounted prices on reception venues, catering, and photography. If you want to save even more, know the right time when the hotels and resorts are off-season and stay away from the weekends.

2. RENDERING YOUR RESIGNATION

Remaining in a horrible job or company for too long can be harmful not only to your career but also to your health. If you have tried your best to turn things around and have not seen any changes, perhaps it may be time to walk away.

According to Travis Bradberry of Forbes.com, here some signs that validate your desire to quit:

It is time to quit your job if you…

a. dread going to work.

b. know more than your boss.

c. are out of the workplace loop most of the time.

d. lost your passion.

e. have a horrible boss who is not going anywhere.

f. see no room for advancement.

g. are suffering health wise.

h. are suffering in your personal life.

i. think the company is in danger of closing.

Image Credits: Quinn Dombrowski (CC License Attribution-ShareAlike)

If most of this or all of this are happening to you, consider your options before quitting your main source of income. Rendering a resignation is best done during the beginning of the month, wherein you are not holding any projects yet. Schedule your resignation email or letter and do so graciously.

3. RECEIVING YOUR BILLS (AS A YOUNG WORKING ADULT)

As a young working adult, especially if you are living alone, you become responsible for keeping the household sharp. For the first time in your life, you are the chief of your own bills.

With this newly acquired responsibility, you must stay organized to keep up with your payments. Set aside some time in the beginning of the month to make a list of the bills you are expecting to receive. Put it on your working desk or create a file for it. This way, you will not pay a bill twice even if you received it simultaneously by e-mail and postal mail.

Alternatively, you can get your payments automated. Since you are prepared for the bills earlier on, you may have available money in the bank to pay it the same day as you received it. If you have automatic payment scheduled and you still received a billing statement, call your bank or creditor.

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

Sources: 1, 2, 3, & 4

6 Foolproof Ways To Make Your Clients Like You More

With the modern technology, an unhappy customer can easily share his or her opinion to various social media platforms, which will negatively affect your business. Truly, keeping your existing clients satisfied is a crucial part of a successful business. Nurturing relationships can increase client referrals and decrease the loss of valued clients.

On that note, here are 6 Foolproof Ways To Make Your Clients Like You More…

1. COMMUNICATE GENUINELY

Communicate genuinely to your existing and potential clients as a knowledgeable representative of the business. Addressing the client by name seems trivial however, it is a simple way to build rapport. Increase your clients’ happy experiences even more by talking to them in a manner that they prefer, whether it be through phone, email, or in person.

2. LISTEN TO WHAT THEY HAVE TO SAY

Aside from talking to them genuinely, you must actively listen to what they have to say. You may assume that you know what they want but, what if you are utterly wrong? In fact, most companies fail because they are creating a product with a non-existent demand.

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

So, accept feedback and take necessary actions to improve your business. Use the following methods to gather feedback from your clients: focus groups, social media, surveys, online Forms, and observation.

3. DO NOT MAKE PROMISES YOU CANNOT KEEP

Set realistic and reasonable deadlines to avoid disappointing others. If you promised to deliver the product or send the contract in two weeks then, deliver it within two. Nothing damages your trusting relationship more than a series of broken promises!

4. PROMPTLY RETURN EMAILS AND PHONE CALLS

In conjunction with No.3, you must promptly return emails and phone calls as promised. Interestingly, the top complaint clients have about lawyers are unreturned phone calls. Adopt a habit of replying emails and returning calls at night before you sleep or early in the morning so, you do not miss a thing!

5. OFFER PROMOTIONS AND ONGOING SUPPORT

A surefire way for your clients to like you is to offer occasional promotions and discounts. Keep them in the loop by sending out electronic announcements and decorating your shop with attractive posters. Additionally, you must offer excellent customer service by responding quickly to clients’ needs. The strong ability to deliver excellent customer service will be your edge over your competitors. One consideration is providing support through a help desk software, such as Zendesk. If you are looking for a Zendesk alternative, check out why Kayako is winning with its ease of use, flexibility and affordability.

6. SHOW YOUR GRATITUDE

You do not have to spend thousands of dollars to extend your gratitude to your loyal consumers. Manifest your appreciation to your clients by saying “Thank You” in person or by sending an electronic “Thank You note”. This simple gesture will impact the way that they view your company. It will make them feel valued and special.

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

Sources: 1 & 2

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