Psychology Archives | Page 6 of 12

Six Financial Beliefs To Have Or To Scrap

TAKE THESE IN

An article by Dr. Matthew James, the President of The Empowerment Partnership, enlightened its readers on the essence of prosperity. He interviewed several people who embodied a healthy relationship with money. This research led him to eight financial beliefs, which the “prosperous participants” agreed upon. Here are just three beliefs to consider:

“Money demands attention.”

Failure to keep up with your monetary affairs can result to trouble. Your mountain of bills and outstanding loans will not disappear on its own! Avoiding your responsibilities may make you blissful for now, but it will haunt you in the long run. Invest your valuable time on getting your finances straight. Pay attention to details and foster realistic commitments.

“The universe wants me to prosper.”

Dr. James stresses on the influence of the “Law of Attraction” towards money. Made popular by self-help books, Law of Attraction is the belief that we receive the energy that we emit to the world. Cultivating positive thoughts brings positive experiences. While, focusing on negative thoughts brings negative experiences. The effect of our thoughts is apparent when it comes to money or the lack of it. Re-frame your thoughts to resemble your financial behavior.

“Money will respond to the instructions I give it.”

Compared to other areas in our lives, our believes surrounding money is probably more limiting. Realizing that you are in control of your finances will enable you to be accountable for your actions. Although the beautiful Prada bag is tempting, your money follows your instructions. It does not have its own intelligence!

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The first step that you must take is to set your financial goals. These goals will help guide and motivate you when things get though.

GIVE THESE UP

After knowing about Dr. James’ prosperous beliefs, let us turn the spotlight to the irrational financial beliefs. Following irrational or wrongful beliefs on money might jeopardize your financial health. Awareness is the first step! Expand your knowledge about these three:

“There is an optimum way to becoming successful.”

Say your expat co-worker spent his entire savings on gold investments (i.e., Gold Exchange-Traded Fund). He used his gains to build his own enterprise. He was onto something and so must you. If you believe that one size fits all, you are mistaken. Generalizing is a cognitive bias that you must overcome.

Stick to employing a strategy that will suit your spending habits, financial goals, and current situation!

“Money can buy me people’s attention and love.”

You cannot please everybody, even if you are the shiniest coin in the purse. Having money does not guarantee that you will gain genuine affection and attention from others. It is better to focus on the things that you can directly influence (e.g., loving yourself, seeing your friends, or donating to charity).

“Earning money is a competition.”

Most of us will agree that Singapore unintentionally cultivates a competitive atmosphere from school to working years. For people who treat money as a scorecard, losing money can be immensely difficult. Imagine what will happen to those individuals when unforeseen circumstances (such as layoff and recession) occur! Their self-worth may shrink once their wealth depletes.

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Instead of placing money as your top priority, put greater value to your family and friends.

Sources: 1 & 2

Telltale Signs That Your Colleague Secretly Dislikes You

While some people have no problem letting you know that they hate you, others may try to maintain their professionalism by hiding their unpleasant feelings.

Know some of the obvious and less-obvious indications of dislike by reading thru this list!

#1: HE OR SHE DOES NOT SMILE WHEN YOU ARE AROUND

As you pass by, the shinning smile on your colleague’s face dissolves instantaneously. The change in his or her disposition is not due to a hormonal mood swing or an occasional unpleasant day. It is deeper than that! Something is wrong as your colleague makes a conscious effort to not smile whenever you are in the room.

#2: HE OR SHE CANNOT LOOK YOU IN THE EYE

One of the most obvious signs that you co-worker dislikes you is when he or she cannot maintain eye contact. The eyes are the gateway to what is beneath your soul. People may be afraid to look you in the eye if they perceive that you have an ability to detect hostility.

#3: HE OR SHE DOES NOT INCLUDE YOU IN THE WORKPLACE HUMOR

Exchanging jokes and teasing are common in cemented workplace relationships. If the person who hates your guts is the leader of the workplace clique then, you may be constantly left out in the inner circle. They may not feel comfortable when you are around.

#4: HE OR SHE DOES NOT INVITE YOU TO SOCIAL EVENTS

Being excluded from the social guest list is one of the signs that your colleague does not want you around. “Sorry! We forgot to invite you.”, may be one of the lines that you constantly hear from that certain person.

#5: HE OR SHE DISPLAYS NEGATIVE BODY LANGUAGE

Communication is mostly made up of non-verbal cues. Uncover your co-worker’s genuine feelings toward you by observing his or her body language. Constant subtle eye rolls, lack of eye contact, and folded arms are just some of the red flags.

#6: HE OR SHE TAKES CREDIT FOR YOUR WORK

When a co-worker is determined to exclude you from all the important company discussions, it is clear that he or she does not want you to get involved. A more potent display of disdain is when a co-worker sabotages your role in the project by taking credit for your ideas.

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Watch out for these!

Sources: 1 & 2

How To Deal With The Toughest Questions About Money

Nurturing an honest and educational discussion about money is highly encouraged. It is helpful to share personal saving tips and ways to cushion the challenging economy. However, it is easier to travel deeper into the conversation as you get more familiar with someone.

A nosy or rude question about money can push your pleasant discussion into an inaappropriate territory. Prevent judgment or unsolicited advice from coming by considering these approaches:

#1: HOW MUCH MONEY DO YOU MAKE?

One of the most shocking encounters in my life was when my uncle’s neighbor directly asked how much I made. This is an inappropriate question to ask to a person you met for the first time. I wore a smile on my face and firmly said: “I am sorry, but that is personal. It is not something that you need to be concerned with.”

You may approach the same situation in a lighter manner by saying: “I earn enough to cover my needs and reasonable wants.”

#2: HOW MUCH MONEY DOES YOUR SPOUSE EARN?

When you are exercising a in-depth disclosure with your friends, it is easy to slip an invasive question from time to time. One person may ask how much your spouse earns per month. Divert the topic by saying: “We make enough money to enjoy your pleasant company today.”

If you are unsuccessful in changing the course of the conversation, politely state that you do not discuss financial matters outside of your marriage.

#3: ISN’T THAT TOO EXPENSIVE FOR YOU?

A concerned family member or a close friend may bluntly ask you about an item he or she perceives as hefty. Alleviate the worries of your “asker” by elaborating how good you felt about your purchase. Also, you may share how much thought you exhausted before purchasing the said item.

I shall illustrate this scenario in the following dialogue below.

Gabby: How can you afford to purchase the new GoPro?
Jayden: I did my research. I shopped around Singapore to find a camera that I really desire. Do not worry about it! This GoPro is still within my budget.
Gabby: Okay lah!

#4: HOW MUCH DID YOU SPEND FOR YOUR FLAT?

Real Estate in Singapore is a tricky subject. People may judge you for either spending too much or too little for your nest. Stay on the safer side by keeping your answers vague. Consider saying something along these lines:

a. It is more that we expected, but less that the actual asking price.
b. It was above our asking price, but within our budget.

Sway away from this matter by inviting the person as your guest in your upcoming housewarming.

#5: MOM AND DAD, ARE WE RICH OR POOR?

Children are immensely curious by default. As early as primary school, they begin to define themselves by observing the similarities and differences between them and the society. Their friends may brag about how much they have, but your child cannot fully appreciate what rich or poor actually means. This is why it is your responsibility to shape your kid’s definition of what it means to be well-off.

You can impart that the essence of being rich does not necessarily equate to a household’s net income. For instance, you may say that your family is rich in the love and presence of each other.

#6: HOW MUCH DO YOU EXPECT TO EARN IN THIS POSITION?

The juiciest job interview questions are related to salary. Your potential employer may ask you about the specific range of expected salary in order to make an offer. It is best to utilize a positive and direct response to avoid triggering the interviewer’s tougher side.

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Say that I was put in this situation. My response will be: “I would greatly appreciate if you could make an offer that is based on the budget for this position. We can negotiate from there on.”

Sources: 1, 2, & 3

How To Handle The Toughest Online Complaints

Supporting your customers does not always make you right, but it is about making things right. You are more likely to keep your customer if your resolved a situation fully. Deal with the toughest online complaints by following these tips:

Keep It Subjective

In my experience as an Administrative Officer, email scripts were extremely helpful. I answered queries and complaints with ease as we had several fixed templates in our repertoire. However, customers get frustrated after opening a generic email where some questions were left unanswered. This is why your reply must be tailored to the problem of your customer.

A good trick to try is to “copy and paste” the entire content of your customer’s email. Break it up into workable chunks in order to address every issue. This way you will be able to ensure that you respond appropriately to every paragraph.

Not Too Late To Say Sorry

No business is spotless or perfect. Instead of concealing your flaws, it is best to own up to them. Acknowledge your mistakes and think of the potential solutions. Perhaps, you can offer a voucher or discount as compensation.

Post a sincere apology as people will be quick to realize if your apology is scripted. Show your humane side by seeking a natural tone. Translate this tone as you type your message.

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Provide Peace Offering/s

As I said above, you may provide applicable compensation. It may be in the form of discounts, vouchers, coupons, refunds, free merchandise, and free classes. Do not hesitate to shower your customer with compensation after a failure in product or service.

A research showed that 58% of complaining customers who received a gift in the mail were delighted. This goes to show that your efforts will be rewarded with increased customer confidence and satisfaction.

Conversations Must Extend Offline

Polarization, the emergence of two views that drive groups apart, occur when conflicts are stirred in public. All communications on social media platforms are in the public eye. Instead of allowing negative comments to flood, deal with the issue offline. Directly communicate with the significant person face-to-face.

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Doing so will prevent the situation from escalating. Stay calm, firm, and polite during the encounter.

Sources: 1 & 2

Do You Have These Harmful Attitudes About Money?

Having a wrongful attitude toward money can cost you in the long run. The earlier you alter your belief system, the sooner it will pay off. Here just some of the attitudes that you can slash off:

“MONEY IS NOT VALUABLE!”

If you relieve the weight on your finances, you may start spending carelessly. Saying money does not matter is like saying that you can live in Singapore without having to work. Money is valuable as it lets you exercise choice. You can choose to change jobs or to retire early. It helps you to afford the options that will change the way you live.

“I WILL REMAIN FINANCIALLY ILLITERATE.”

Just because you never attained a “Diploma in Banking and Finance” does not mean that you cannot learn to manage your wealth properly. Having the negative attitude that you are not good with money can increase the fallout in your finances. This ideology is more common than you think.

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According to Kathleen Kingsbury, a financial author and money coach, women typically complain about being too stupid to learn about finance. This is not true! Since women learn by conversing, realize that your lack of financial knowledge is due to the lack of socialization related to money. An individual may join an educational club about personal finance as a solution. These matters can be applied to main as well.

“IT IS NOT POLITE TO TALK ABOUT MONEY.”

As we live in a predominately Asian nation, talking about salary or money in general is taboo. This may lead to poorly equipped individuals. You see, money has been a source of many conflicts. This is why most people skip this topic.

The downside is blatant ignorance. It is your duty to separate money facts from fiction. To get your facts straight, you must search for answers. You may not get the right information if you remain silent. People may not be able to help you in huge monetary decisions too.

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Do you have these harmful financial attitudes? Perhaps, it is time for change.

Sources: 1 & 2

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