By definition, maximizing refers to “increasing [something] to the greatest possible amount or degree” while simplifying refers to “making [something] less complex or complicated”. Applying these two opposing strategies to your investments can lead to different results.
Let us find out which strategy is more productive.
With the sole purpose of increasing the value of their portfolios, “maximizers” are vulnerable to the trap of purchasing a product off the bat. They may be too optimistic and expect the best possible outcomes. This idealistic thinking can be far from reality. The truth is, there will always be a few decisions that would not work in your favor.
Aside from investing on the wrong products, maximizers can be overwhelmed and stressed about the abundance of investments that they bought. The mindset of a maximizer is focused on the overall potential that various investment can offer rather than optimizing a single investment.
Sure! You can actually earn five times more than your initial cash-out if you added all of these options. However, can you really pay attention to all of it?
Most people cannot. They end up putting “so-so” effort into each of their investments and fail to achieve the best scenario that they previously envisioned. Also, they end up being drained. Drained investors can become unproductive. Being unproductive may later result to a significant loss.
With all the money at stake, do you still want to maximize?
If your answer is “NO”, try the second strategy called simplifying. Simplifying allows you to create a portfolio that is easier to manage by eliminating complex investments. To tell you frankly, investing does not have to be difficult! You just have to focus on one thing at a time.
Start by analyzing all the possible investment options that you can afford. Next, determine which options suits your personality the best. Remember that investing is more than just about the outcomes.
A powerful mindset that “simplifyers” possess is contentment.
According to Psychologist Barry Schwartz, people who are preoccupied with the best possible outcomes are less satisfied and more susceptible to “buyer’s remorse” than the people who are satisfied with the outcomes that are good enough.
Maximizing can be counterproductive to your investments. The more you try to grow your wealth, the more you can inflict strain and stress to yourself.
Asking questions about wages and benefits in the first job interview may potentially send an inappropriate message. You may come off as someone who is more interested with reaping the rewards of the job, rather than coming off as someone who is serious about the position.
Every job seeker is curious about money matters. However, you must wait until the interviewer brings it up or until the later interview.
2. HOW EARLY CAN I GET PROMOTED?
According to Rebecca Woods, an HR Professional in Minneapolis, this is one of the most usual questions that job seekers shall avoid. Put yourself in the shoes of the interviewer. You would not want someone who is expecting immediate gratification!
Instead of asking when are you getting promoted, Woods encourages applicants to familiarize themselves about the ways to reach occupational success.
3. CAN I WORK FROM HOME, INSTEAD?
Your top priority at job interviews is to sell yourself by showing what you are capable of. Do you think that asking special favors such as “working from home” can help you land the job? Of course not.
Unless the job description implies that you can work remotely, do not ask this question. You will be glad to know that some Singaporean companies allow their employees to work from home after they have proven how productive they were.
4. IS THE RUMOR ABOUT YOU…TRUE?
Never ask about the gossips that you heard or overheard. You are not only being rude to the interviewer but you are also engaging in a highly unacceptable behavior. Need I say more?
5. WHY?
People who are faced with questions that begin with the word “why” typically raise their defenses. For instance, “Why did the company fire so much people?” seems more confrontational than “I heard about the recent layoffs. What is your opinion about the company’s future?”
Image Credits: pixabay.com
Phrasing your questions in a friendlier manner can help your chances at getting your dream job!
Modern Singaporean hippies frequent places that exude a youthful vibe that opposes the status quo. Here are some of the common places where they spend their money on:
1. SHOPPING
Hipsters habituate shopping centers that offer minimalist products and online labels. Three of my favorite trendy malls are Orchard Gateway, 313@Somerset, and *Scape.
a. Orchard Gateway gives a modern vibe as its futuristic glass bridge joins the orchardgateway@emerald and the remainder of the Orchard Gateway. Always have your camera with you so you can stop and snap some selfies while you are walking along.
b. Minimalist, hip, and chic are three words that perfectly encapsulates the charm of The Editor’s Market. It is a fashion forward shop that houses clothing ranging from S$20-50. Whenever I am at their 313@Somerset’s outlet, it is impossible to not find something I like.
Image Credits: facebook.com/theeditorsmarket
c. *Scape Underground is filled with online shops that sell items at affordable prices. Unique accessories for as low as S$5 can be found here. If you are lucky, you can chance upon ELF or NYX cosmetics that retails for as low as S$3. Nonetheless, inexpensive yet cool phone cases will always be available there.
2. BOOKSTORES
Hippies create their own slice of heaven by frequenting independent bookstores such as BooksActually and Littered with Books. Probably the most popular of the bunch is “BooksActually”. BooksActually is the go-to place for local literature, enigmatic titles, and creative stationary. Even its website is crisp, simple, and neat. See for yourself: http://www.booksactuallyshop.com.
Another gem for the spunky bookworms is “Littered with Books”. It is situated in a restored shophouse at Ann Siang Hill. Get lost in a shop filled with classic novels, children’s literature, contemporary local literature, and more!
Image Credits: litteredwithbooks.tumblr.com
3. CAFÉS
It comes as no surprise that you will find this ecentric sub-culture at cool cafés. Three neighborhoods that have an abundance of bespoke products are Tiong Bahru, Haji Lane, and Bedok. Tiong Bahru is a historic staple of the Singapore’s hip culture. When you are here, do not skip on the bespoke coffee offered by Forty Hands or Flock Café.
Haji Lane has a myriad of vintage shophouses that sell contemporary and quirky items such as accessories and clothing. Among its packed list of cafés, CAD Cafe is my favorite.
Located in the Bedok area is a humble cafe called Percolate. The place is plain, cozy, and beautifully decorated that is why it brings a relaxing ambiance to its hip customers. According to HungryGoWhere, the average plate costs S$10.
Image Credits: facebook.com/PercolateCoffee
Good prices offering delectable dishes…who am I to complain?
The travel search engine KAYAK.sg has identified the best night markets that Singaporeans should discover in Asia and the best travelling days for maximum savings
Singaporean travellers can save up to 55% on a round-trip flight to Phnom Penh when flying on Monday and returning Saturday
The cheapest return flight is from Singapore to Kuala Lumpur with an average price of S$76
When booking a return flight for a trip to Ho Chi Minh city travellers can save up to 33% flying on Wednesday and returning Friday
Singaporean foodies can never get enough of good food and are always on the hunt for the best local gastronomic experiences. KAYAK.sg reveals which destinations have the best local food at the most wallet-friendly prices, as well as which travel daysafford the best flight deals. Knowing which days are the best to fly on when booking a return trip allows Singaporean travellers to better plan their trip, while spending less on their flights and more on local delicacies in Asia’s best night markets.
Debby Soo, KAYAK Vice President APAC said “Tasting local food is a highlight on every traveller’s itinerary. To avoid disappointment, travellers should make sure to check the opening hours of night markets as they are not all open daily. Also, Singaporean holidaymakers should come prepared with sufficient loose change as the vendors only accept cash payment.”
Kuala Lumpur, Malaysia: Jalan Alor Food Street
@Kheng Guan Toh/Shutterstock.com
Jalan Alor is the best local tip when it comes to night markets in Malaysia. Expect to find a smorgasbord of street food; ranging from local Malay and Chinese food to international cuisine and exotic snacks; it is the perfect place for those who want to try all of the famous, local dishes. The famous food street is open until late to cater to party-goers around the area. Everything is on offer, including barbequed chicken wings, grilled seafood, tofu bakar and belacan fried rice. The street market is open every day from 5pm till late. Travellers should note that some of the street’s restaurants have very specific opening times and are not open every day or at all hours, thus they should be sure to check the opening times before visiting them. To get better flight deals, Singaporean foodies are encouraged to travel to Kuala Lumpur on a Sunday and stay until a Tuesday, when the average price for a return trip amounts to S$83, saving travellers an average of 29% when compared to a Saturday to Sunday getaway. If travellers are making frequent trips to Jalan Alor to satisfy their cravings, they should consider their stay at Parkroyal Kuala Lumpur – a 10 minute walk away from the food street.
Adventurous travellers can slip away from the French cafes and tourist heavy spots in District 1 and hop over to District 10 to explore Ky Hoa Night market which offers a wide range of local food. Among the most popular local delicacies, Singaporean foodies can try Vietnamese Com Tam (broken-rice) with grilled pork, bot chien (fried rice flour cake with egg), bun thit nuong (cold rice vermicelli) as well as exotic delicacies including fried insects and arachnids. Travellers should head to Ho Chi Minh City on a Wednesday and return on a Friday, when a return flight costs an average of S$151, saving up to 33% when compared to booking a flight leaving on a Sunday returning Monday. Luckily for Singaporeans, the market is open daily from 5pm to midnight; however, to make the most of it, travellers may consider staying in one of the top 5-star hotels nearby, such as the Windsor Plaza Hotel, and extending their taste-testing spree by couple of days.
Phnom Penh’s only formal night market, Psar Reatrey, overlooks the riverside from the central reservation that separates downtown and northern Phnom Penh. Singaporeans can enjoy live local pop music as they stroll through this less-crowded and less touristy Cambodian night market. Travellers should make sure to taste some specialties from the local cuisine, including Fish Amok (Cambodian style steamed fish), Kuy Teav (noodle soup), and Prahok (crushed and salted mud fish in banana leaves). Holidaymakers searching for novelties should take a seat at the back of the market and try fried cockroaches and salted grasshoppers. Singaporean travellers who want to save up to 55% should leave on a Monday and return on a Saturday when an average price of a return flight amounts to S$208. Moreover, it is perfect timing as the market is open on Fridays, Saturdays and Sundays from 5pm till midnight. Those who want to extend their stay in the capital and spend more time enjoying the local delicacies may want to consider checking into a 4-star hotel e.g the Sunway Hotel Phnom Penh, located within easy walking distance from the market.
A sea of colourful tents, near the Thailand Cultural Centre, at the BTS station, house row upon row of street food vendors offering travellers everything from stir fried pad thai to barbequed fish and the perennial favourite, mango sticky rice. After eating or when taking a break from it, Singaporeans should head up to the second-story bars, which provide a bird’s eye view of the market below, and enjoy some live music The best days to stay in Bangkok are Monday to Friday, when the average return flight price is around S$173. Also, Singaporean holidaymakers can save up to 27% when booking their flights for these days compared to other booking combinations. For Singaporeans taking advantage of this great deal, take note that the market is only open Thursday to Sunday so book a hotel like the Grand Mercure Bangkok Fortune, just a stone’s throw away from the market, to really make the most of your market dining experience.
Located in one of the city’s trendiest neighbourhoods and near several universities, Shi-Da has a young and vibrant atmosphere. The market can be found along Longquan Street, which runs parallel to ShiDa Road. Apart from tasting such local delicacies as stinky tofu, black pepper buns and grilled squid, Singaporeans should definitely make time to explore the stalls set up by local fashion designers. Travellers can save up to 16% when flying out a Sunday and back on a Tuesday, with an average price of S$337 when compared to holidaying from Tuesday till Sunday. The market is open from 6pm to 11.30pm daily; however, with so much to see and taste Singaporean travellers, wanting to make the most of their time in Taipei may want to consider somewhere like the Rido Hotel, which is a short stroll away from the market.
Data analysis is based on flight searches made on KAYAK.sg from June 2015 until June 2016 for travelling dates between June and December 2016. Average prices are quoted in Singapore dollars and based on a return economy flight for one person. All prices quoted may be subject to change and may no longer be available. Hotels are recommended based on short travel distance from the night markets or food streets, rated at least 4 stars. Searches are made on 18 June 2016 for 1 night stay and 2 guests from 27 June to 25 July 2016.
No matter how abundant or scarce your money is, spending it wisely shall be your top priority. It not only enables you to get the most out of your dollar but it also allows you to make life-changing decisions.
Determining the reasons behind your spending is the first step to knowing whether your money is allocated properly or not. Are you spending your money on the latest gadget by Samsung because you need it or because you want it?
There is usually a conflict in differentiating between needs and wants. Perhaps, the confusion is due to our subjective definitions of the two terms. Let us take Cheng Ling as an example.
Cheng Ling values the perceptions of others toward her and her daughter. Since her daughter is starting a new school year, she bought her two new pairs of shoes.
She argues that she does not want her daughter to feel embarrassed by wearing the same shoe she wore last school year. Although the last year’s pair is still in mint condition, she bought another pair of shoes to prevent repetitions.
Do you think Cheng Ling’s purchases are necessary in this scenario? Or, was it a matter of personal desire?
Examine your purchases in this manner along with these helpful queries:
“Will this purchase make my life easier and more efficient?”
“Will this purchase provide a lasting pleasure?”
“Will this purchase be meaningful to my life?”
“Is this something I will use regularly?”
“Is this something I can afford?”
“Is the potential gains from this item realistic?”
Carefully assess all these questions and the interplaying factors that can influence your decisions. If your response to all these questions is “YES” then, by all means, make the purchase!
Aside from distinguishing between your needs and wants, you must sort out your “essentials” first. When I say essentials, I pertain to the fixed expenses that you encounter every month. This includes your groceries, utility bills, and school fees. Plan your spending before you receive your paycheck.
Some people spend their hard-earned money like most lottery winners. They get a huge pile of cash now and spend it all in a snap! Remember that wealth is accumulated over time and not something that you can earn overnight.
Image Credits: pixabay.com
At the end the day, it all boils down to the decisions you make!
Anna Agoncillo
MoneyDigest
