Prevent Emotional Eating Without Costly Therapy Expenses

1. IDENTIFY THE PROBLEM

Reflect and identify the trigger that caused your ill feelings and work out an immediate solution. For example, if your kid is doing poorly in school, make an appointment with his/her teacher so both of you can improve the situation afterwards.

2. GO OUT AND EXERCISE

Run outdoors and feel the glimmer of the sun to feel better. Getting at least 30 minutes of exercise a day (5 times/week) can reduce the symptoms of depression. While, sunlight reduces stress and improves one’s mood, according to the researchers from University of Pittsburgh and Carnegie Mellon University.

3. KEEP YOUR HANDS BUSY

If you are holding items in both hands then, it will be difficult to grab food. Fold clothes while watching T.V., groom your pet, plant a herb, or do anything that interests you. An alternative is to occupy only one hand by holding a heavy glass of beverage. This way, you have to put down the glass in order to get something to eat. Then, you become more aware of what you are consuming.

4. SPEND TIME FOR FUN

Remember those enjoyable activities you wish you had time for? Well, you can do it now. List down the things you would want to do, whether it be going to a concert or organizing a board games night with your close friends. Pick one fun activity instead of snacking.

5. SATISFY YOUR OTHER SENSES

Taste is pleasurable but so are other sensations. You do not have to spend too much to achieve it. You can just smell the warm scent of a cinnamon aromatherapy candle while you are reading a book. Or, descend into a bubble bath while listening to your favorite music.

6. EMPLOY THE TEMPTATION JAR SYSTEM

Whenever you feel angry, depressed, stressed, or bored that you want to eat something…put loose change in a “temptation” jar instead. As those money piles up, so does your confidence. These temptations that you overcome increase your earnings.

Image Credits: frankieleon via Flickr

Image Credits: frankieleon via Flickr

Use the money you accumulate from it to reward yourself. You deserve it.

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Use These Brain Techniques To Save More And Spend Less

1. EMPLOY THE “URGENCY TEST” WHILE SHOPPING

When you are thinking twice on purchasing an item, ask yourself if you are willing to try it on the dressing room at that very moment. If you are not really excited to wear it then, do not bother to buy it.

2. AVOID “GIVING UP”, USE “SAVORING” INSTEAD

You will only feel deprived if your perspective is to give up something in order to save more. So, change your perspective and start “savoring” the moments that you indulge on lavish things. The goal is to change your frequency of indulgence and not to hinder you from enjoying life’s goodness.

3. WHEN YOU ARE NOT EARNING, YOU ARE SPENDING

Keep in mind that when you are not earning, you are just losing the money you earned. If there are opportunities to work more and your body feels okay then, take on the challenge. Sometimes, the feeling of losing money is more painful than missing it.

4. MAKE TIME A CURRENCY

To get a clearer perspective, break down the monetary value of things by the hour. For example, if you make S$10 an hour and a bowl of bean curd is S$2 then that is 12 minutes of your work and life. This technique will help a lot to cut down your impulse purchases.

5. BE MOTIVATED WITH A SLOGAN

If you are struggling to be frugal, make a tangible slogan or a poster that you can hang on to. For example, you can use this slogan to help you think critically when purchasing: “Use it up, Wear it out, Make it happen, or Do without it”.

6. UTILIZE THE “GAS OR BREAK METHOD” 

Compare your financial progress to driving. In every decision you can either get closer to where you want to be (gas) or slow down (brakes).

Image Credits: loveheels via Flickr

Image Credits: loveheels via Flickr

So, the next time you have to make a monetary decision then ask yourself this: “Am I stepping on the gas or the brake? Is it worth it?”

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Psychology of Spenders And Savers

There are two types of people in the world: those who spend and those who save.

SPENDERS

Compulsive spenders do not want to delay gratification. If they want something, they will purchase it right away…as long as they are happy. It worked so well in the past, so they stick to the same habit. But, when expenses and debts extremely increase then, it is the time they realize that they need to kick that habit away.

Here are 3 ways to prevent your impulses and to help you save:

1. IDENTIFY YOUR FINANCIAL GOALS

How much do you need when you retire or how much do you need to pay for your child’s education? Ask yourself these questions to identify your financial goals. Then, be vocal about it to your friends and family.

2. NEED VS WANT

Before purchasing anything, evaluate and know whether you need or want the item. Then, purchase according to your budget.

3. STAY AWAY FROM THE PLASTIC CARDS

By using mainly cash and withdrawing it from your bank account, then you became more aware of your spending and your account balance.

SAVERS

For financially aware individuals, the act of spending can activate neural activity in the anterior insula and amygdala. These two parts are responsible for the mood and unpleasantness felt. This is why the more these two are activated; the less likely a financially aware individual will spend. On the other hand, the act of saving will bring immense pleasure to them.

While many people take pleasure in purchasing things, some savvy savers do not feel the same. Instead some of these people are uncomfortable when shopping, they constantly look for the price tag and calculate the total, and they feel emotionally painful when they are paying. If you are not experiencing enough pleasure in life, you deserve to loosen up and enjoy spending every once in a while.

So, what brings the pleasure back as a savvy saver that is spending?

1. STAY AWAY FROM THE PLASTIC CARDS

Give yourself the vacation or rest day you deserve by budgeting a portion of your money to a category called “personal incentives”. With that money, you would not need to use your credit or debit card since you have already set aside the cash to cover it. Now all you can do is relax and take your mind off the expenses.

2. PURCHASES=REWARDS

At the end of the month and once you meet your savings goal, reward yourself with the pampering you deserve for working hard and doing so well. To prevent frugal fatigue, reward yourself by using a responsible amount of 4% – 8% of your savings.

3. THINK OF THE FUTURE

Study has shown that people are happier when they spend their money on experiences (e.g., sky diving) than in goods (e.g., Gucci bag). So, do the same with your personal incentives. Do you really want to regret experiences you did not take because you don’t want to spend money on enjoyment?

Image Credits: Tax Credits via Flickr

Image Credits: Tax Credits via Flickr

Even though you belong in one category now…you can still change! Whether you are a saver or spender, you hold your financial present and future.

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Shopping Intervention: 7 Things You’re Doing Wrong

1. GETTING TEMPTED WITH THE EXTRAS

You may go shopping during a huge Laptop sale and save big time on what you need but find yourself purchasing its costly accessories. Extras for laptop, computer, Smartphone, and so on can be purchased at a bargain price online on Ebay or Carousell rather than from the shop itself. Shop for the necessary, weight your options when buying extras, and look at the bigger picture.

2. COMPARING PRICES BY SHOPPING

Compare prices online or through magazines and newspapers instead for buying the items yourself. Also, when comparing prices, give yourself a time limit (e.g., 20-30 minutes). This is because people who can’t stop looking for the next best deal are never satisfied.

3. LETTING IMPULSE TAKE OVER

When impulse takes over your shopping, you regret purchasing an item the minute it arrives. To know if you really need and want something, walk away from it and you will save money. As most heard: “if you love something, set it free”. And, if you find yourself thinking about it after 24 hours then go back and buy it.

4. OVERSPENDING DUE TO AN ATTRACTIVE DEAL

Online shoppers are found to spend over 1/3 more when the shipping is offered for free. This is because the attractive deal catches you. Avoid overspending by writing down the things you need to buy and sticking to it.

5. NOT NEGOTIATING

Most goods are negotiable these days. You would not know if there is a sweeter deal if you do not ask. You do not have to say: “Can you give me a discount?” directly if you are shy…use “Can you work with the price with me?” instead. Before negotiating, be sure that you did your homework about the competitors’ prices first.

6. TRYING IT ON

If you are not prepared to buy an item for its price, do not try it on. Psychology suggests that physically touching a product makes you desire to buy it more. Touching a product can lead to lingering and prolonged feelings of ownership. This is why clothing stores have an abundance of changing rooms or why more expensive grocery items are just within your reach.

7. GOING FOR RETAIL THERAPY

People often know that you must not shop hungry in a grocery store because you would end up buying everything that satisfies your hunger.

Image Credits: Pedro Ribeiro Simões via Flickr

Image Credits: Pedro Ribeiro Simões via Flickr

Same goes for other aspects of shopping, it is best not to shop angry or sad. Shopping while you are angry makes you more likely to take risks. While, shopping while your sad may fill up the void in your heart but empty your wallet along the way. Making retail therapy a habit can turn in an unhealthy and costly addiction.

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Important Things You Must Know About Money And Happiness

The aged old question of “Does Money Buy Happiness” has been puzzling the minds of many over the past decades. A current research by University of British Columbia and Michigan State University showed that while more money decreases sadness, it might not increase joy.

The researchers named Elizabeth Dunn, Kostadin Kushlev, and Richard Lucas said: “having more money provides more options for dealing with adversity”. Hence, wealthier people may feel a greater sense of control on a difficult situation that poorer people.

1. MONEY RELATIVELY INCREASES HAPPINESS FOR SOME PEOPLE

Princeton researchers released a study in 2010 showing that happiness increases as the income increases until US$75, 000. After this certain point, it plateaus. It is due to the fact that stress and financial difficulties get harder and harder as your income descends in the five-figure realm.

Image Credits: Aaron Patterson via Flickr

Image Credits: Aaron Patterson via Flickr

For those who are struggling to make ends meet, making more money generally increases happiness. But, once a person has enough money to provide for the family and oneself, more money doesn’t lead to increased happiness.

2. YOU CONTROL THE EFFECT OF MONEY ON YOUR HAPPINESS

Having a balanced life, being able to practice your hobby, and volunteering certainly increases happiness. If you apply these ideals to money, you can generate happiness.

Studies show that you will get more satisfaction if you spend your cash towards memorable experiences such as vacations than towards material things such as a new table. Likewise, lending out possessions can help you enjoy the material things that your money bought.

3. DOES OWNING MORE AND ACHIEVING MORE MAKE YOU HAPPIER

If more money comes at a cost of more responsibility and heightened stress in the workplace, then that person will not experience added happiness. Owning more or shopping more only increases happiness for a short run. Spending more on others generates more happiness than splurging on you.

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