How Gratitude Can Improve Your Financial Life

Showing appreciation to others and to ourselves is characterized by gratitude. Gratitude makes us more aware of the sources of hope, joy, and wonder in our lives. Being grateful can improve your health, strengthen relationships, and help manage your finances.

Here are just some of the financial benefits of practicing gratitude:

IMPROVING PATIENCE

Practicing gratitude can affect your patience. Researchers found that feelings of gratitude reduced financial impatience, according to a study published in Psychological Science journal. Those who showed gratitude had increased willingness to wait longer to receive their money. While those who wrote about neutrality tended to opt for immediate payouts.

REDUCING DESIRE FOR MATERIAL THINGS

Psychologists Robert Emmons and Michael McCullough showed that people who counted their blessings had a more positive outlook in life, exercised more, and were more likely to help others. These findings were supported by Psychologist Nathaniel Lambert who found that feelings of gratitude were associated with lower materialism.

Feeling thankful for what you have can enhance your satisfaction in life and reduce your desire to buy more things. Think about that!

INCREASING GENEROSITY

As said above, generosity can increase the likelihood of helping others. The goal of financial planning is to allocate money towards things that you value most, which can be the welfare of others. Gratitude was shown to motivate people to pay it forward or to give back in many ways including financially.

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An article published by the American Psychological Association reported that gratitude facilitates generosity. People who were feeling gratitude were able to share more money with others, despite the recipient being a stranger.

BOOSTING YOUR EMOTIONS

When it comes to gratitude, the first step is to acknowledge the gifts and benefits we have received. Secondly, you must recognize that you have been blessed by others, luck, or divine intervention.

Gratitude requires us to see how we have been supported and affirmed by other people. In return, it can make us feel satisfied and secure.

HELPING COUPLES WITH MONEY FIGHTS

A 2015 study by researchers at the University of Georgia found that gratitude can help couples to manage financial conflicts. Expressing appreciation and feeling appreciated are hallmarks of strong partnership, according to couples’ therapist Ed Coambs.

Ed said:

“In a flourishing, healthy relationship, gratitude flows naturally and pretty easily. In a functioning relationship, it’s more intermittent, a little less consistent. In a dysfunctional relationship, it’s absent.”

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Many financial conflicts stem from partners not feeling appreciated for their efforts to save money and to look after the couples’ future. This is where gratitude can come in.

Sources: 1, 2, & 3

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7 Tips for Achieving Mind-Body Balance

Health is not merely the absence of diseases; it is a state of optimal well-being and wholeness. This includes the food you eat, the relationships you build, the jobs you fulfill, and your life experiences.

Aiming for balance in your mind, body, and soul is a good place to start. Below are seven ways to help you begin the process.

#1: AVOID SITTING FOR EXTENDED PERIODS OF TIME

Given our current situation, many Singaporeans are working from home. Try to stand or walk around while you work. Take a few minutes to refresh your mind and body. Sitting for extended periods of time was linked to diabetes and heart diseases.

#2: READ AND LEARN MORE

Learning does not stop once you get out of school. Open your mind to new possibilities by taking online classes, reading books, watching documentaries, and attending workshops. Cultivate a heart that yearns for lifelong learning.

#3: MEDITATE ON A DAILY BASIS

Meditation improves concentration, memory, mood, sleep, and creativity. All it takes is a few minutes per day to start reaping its benefits. You may even ask your friends to partake in a 30-Day Meditation Challenge with you.

#4: EXERCISE REGULARLY

Apart from meditation, regular exercise offers benefits for both your mind and body. A complete fitness plan includes exercises to develop cardiovascular conditioning, strength training, and flexibility. Get at least 15 to 30 minutes of moderate to fast-paced exercises each day.

#5: DISCONNECT FROM TECHNOLOGY

Our society heavily depends on technology such as laptops and smartphones. Our busy lifestyles glued to our devices can cause detrimental effects on our overall health. Which is why people are tapping into the concept of mindfulness. Try unplugging for the weekend. Start by giving yourself an hour of mindfulness (i.e., no devices allowed).

#6: TAKE A RESTFUL SLEEP

Restful sleep is vital to having energy and optimal well-being. Take a restful sleep of about 7 hours per night. When you are well-rested, you can approach stressful situations in a calmer manner.

#7: CREATE LOVING RELATIONSHIPS

Research showed that a good social network has numerous physical and mental health benefits. Social support can keep you from feeling isolated, inadequate, or lonely. Your friends and family can give you advice on how to manage your problems.

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Sources: 1 & 2

 

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Self-doubt: How Impostor Syndrome Can Hold You Back At Work

You are suited up and ready to impress!

On your way to a job interview for a company that you care about, you brought a C.V. that highlights how perfectly you fit in the position you applied for. You are more than qualified for the position, and the team would be lucky to have you. The hiring manager said so himself!

However, you start questioning whether you are capable of the job as you meet the company’s supervisor. Self-doubt can cripple you and hinder your success.

WHAT IS IMPOSTOR SYNDROME?

Impostor Syndrome is the overwhelming feeling that you do not deserve success. You become convinced that you are not talented, attractive, intelligent, or capable as you may seem. You suspect that your achievements are due to luck, good timing, and other external factors.

Particularly in male-dominated environments, impostor syndrome has been thought to affect women more than men. However, recent study showed that it affects both genders equally.

A person with impostor syndrome (impostor) has a sense of being a fraud, a difficulty internalizing his or her success, and a fear of being discovered. Usually, the stressor triggering impostor syndrome involves getting a new opportunity such as a new job or an advanced degree.

“The person who achieved this level of success begins to have negative thoughts that the success was not really earned. These negative thoughts, which are often referred to as ‘cognitive distortions,’ are based on fear and anxiety and not based in objective facts.” – Ms. Cara Maksimow, LCSW

HOW CAN IT AFFECT WORK?

An impostor may procrastinate or put off assignments due to the fear of being unable to complete the necessary ambitious standards. On the other hand, the imposter may over-prepare by spending too much time on the task. If his or her behavior creates a successful outcome, it will be written off as luck or fluke in the system.

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Success can create a cycle of self-doubt for imposters. Even when they achieve important milestones, they are unable to recognize their own achievements. Instead of celebrating these, the impostors are worried that others will discover the “truth” about their abilities. This is an irrational thought.

HOW CAN YOU MANAGE IT?

There are many ways to manage the impostor syndrome. Here are just some of them:

a. Create a list of your strengths and prior accomplishments at work. Refer to this list when you are questioning yourself.

b. Talk to mentors who are more experienced in the field, when you feel like you do not belong in the situation.

c. Set realistic goals. Often, a fear of failure and a need to be the best can lead to overachievement.

d. Acknowledge what you are feeling. Do your best to keep a journal. Whenever you experience feelings of self-doubt or inadequacy, write your thoughts down. Be specific about why you are feeling this way.

e. Handling with Impostor Syndrome takes long-term effort. You need to employ strategies to deal with it at particularly stressful situations. When the negative self-talk takes over your mind, try to confront it by distancing yourself from the “emotional power” of the voice.

Sources: 1, 2, & 3

 

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Four Ways To Cultivate The Winning Mindset

Known for its prestige and diversity, the 2020 Summer Olympics is an ongoing international multi-sport event. It is currently being held from 23 July to 8 August in Tokyo, Japan. The Olympic athletes that represent their countries are no strangers to pressure. These athletes spend almost their entire lives to train for their events. Can you imagine their overwhelming emotions moments before the competition with the world watching their every move?

Olympic athletes know that challenges and setbacks are natural parts of life. However, the way we handle stress sets us apart. Physical training and mental toughness are crucial to success. Fortunately for us, mental toughness can be developed over time.

On that note, here are some strategies that you can employ to cultivate the “winning mindset”.

#1: MANAGE YOUR MINDSET

Olympian and Sports Psychologist Nicole Forrester studied how some Olympic athletes achieve their aspirations while others fall short. She observed that differences appear through mental skills training. She describes mental skills as the key to help athletes elevate confidence, manage stress, and block distractions. In fact, mindset was listed as the reason why Canada’s swimmer Penny Oleksiak secured the Olympic gold medal in the 2016 Rio Olympics.

“If you dream and you allow yourself to dream, you can do anything.” – Clara Hughes, one of Canada’s most decorated Olympians

#2: GROW YOUR TALENT

Do not rely on talent alone. Steve Canal, author of The Mind of a Winner, once said: “We all are good at something, but a winning mindset understands that the difference between making it a hobby, or a business is the discipline and work you put behind it.” Growing your talents involve discipline and hard work. You need to pour your attention and efforts to improving and applying the talents that you have.

Consistent top performers do not rely on mere talents. They continuously work on their craft and investigate their weaknesses. Then, they find ways to target and improve these weaknesses.

#3: SEEK MOMENTUM

To become successful, you must be aware of the factors that involve your path. Moreover, you must be willing to pour all your resources to achieve it. You need to create a strong momentum to keep developing a winning mindset.

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This momentum can start by having a great purpose. For instance, a businessman can stay motivated by the idea that achieving a specific goal would help the business flourish.

“This moment is not about me, it’s really for my country, it’s about all my coaches, my friends, my family that believed that when I was a six-year-old kid that I could do it.” – Joseph Schooling, Singaporean swimmer & Olympic athlete

#4: TAKE ACTION

No matter how strongly you envision something, you cannot think your way to success. You must act! Many business leaders spend their time analyzing their next move that they become risk-adverse and stagnant. As a result, these people can miss out opportunities to learn from their mistakes. Innovation and upgrades are necessary to keep up with the contemporary world.

Pushing yourself beyond your perceived limitations will help you become a better (tougher) version of yourself. After all, most winners take risks and step out of their comfort zones.

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Remember that winning mindsets are not innate. They are developed!

Sources: 1, 2, & 3

 

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4 Surefire Ways To Create Better Study Habits At Home

Ministry of Education announced that lower primary and lower secondary students will continue with home-based learning (HBL) after June holidays. These arrangements were made to “ease into full resumption of school” when Term 3 starts on June 28.

Studying from home can be challenging! All of us have study habits that we would like to break and others that we would like to develop. People often blame these unpleasant habits to laziness or unhealthy personality. However, Behaviorism dictates that we can learn and unlearn these habits.

Effectively reinforcing a positive behavior and not rewarding a negative one can help change various areas in one’s life. With this principle in mind, here are 4 things that you can do create better study habits at home.

#1: SET YOUR STUDY GOALS

It is not enough to say that you want to study more! You must set quantifiable and realistic goals to meet your objectives for the day. Setting your study goals includes two things – identifying your goals and knowing which resources you will need.

For instance, you want to study for 3 hours daily (i.e., quantifiable and realistic). You successfully meet this study goal by utilizing a conducive study space and by having school supplies on-hand.

#2: TAKE ACTION

After clearly setting your goals, you must bravely take your first attempt. If it is too much to drastically start with 3 hours of study time per day, you can start with at least 45 minutes daily. Gradually increase your study time as the weeks pass by.

Having a physical boundary between your study area and your relaxation area could be very helpful. This can also help you to contain your academic stress within the study space. Furthermore, you can stay focused when studying from home by following a routine. Establishing a routine will provide more structure to your life and more cues to your brain.

#3: MONITOR YOUR PROGRESS

Monitoring your progress includes tracking your milestones and altering your goals based on your evaluation of the current situation. To illustrate this, you can have a study log to record your study time and daily assignments.

You can also analyze the factors that hinder you from studying, such as distractions from external noises or social media. Then, add another goal that is fit to counteract these distractions such turning your handphone off for 3 hours. Use this time to take down notes during your online classes.

#4: REWARD YOURSELF

Positive reinforcement such as entertaining or monetary compensation can increase the repetition of the desired behavior. Therefore, different companies use positive reinforcement to attract you into purchasing more of their products.

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You must figure out a well-deserved reward for successfully studying during the allotted amount of time. You can indulge in your favorite dessert, have a relaxing bath, or call your friends via Zoom. For optimum results, keep the reward scheme consistent each time you reach a study goal.

Sources: 1 & 2

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