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Know These Money Disorders That Sabotage Your Finances

In Dr. Brad Klontz’ book called the “Mind Over Money: Overcoming the Money Disorders that Threaten Our Financial Health” he dishes about the different ways one can sabotage his or her finances. Dr. Klontz knows what he is talking about, as he is a financial psychologist, investment advisor, an associate professor at Kansas State University, and a co-author of four financial books by profession.

To start with this discussion, Money Disorders are defined as persistent patterns of self-limiting and self-destructive financial behaviors. The root of these said disorders are the beliefs about money that you developed during the course of your life. Particular events, which are distressing and dramatic in nature, were dubbed “financial flashpoints”.

Examples of financial flashpoints include childhood poverty or abrupt unemployment. These financial flashpoints affect your financial behaviors because they leave an emotional scar that you will carry on throughout your adulthood. Fortunately, you can overcome the money disorders and take charge of your monetary life! You just have to know its types first.

The Mind Over Money book outlines the 3 types of Money Disorders as:

1. MONEY-WORSHIPPING

Money-worshipping patterns can either display through hoarding or compulsive buying. Hoarding is keeping excessive amount of stuff or money to gain a sense of security, safety, and relief from anxiety. While, compulsive buying is overspending on unnecessary things in order to feel good. They use money as an escape from troubles or worries.

2. MONEY AVOIDANCE

Money avoidance patterns exist as financial denial or financial rejection. Financial denial is when you refuse to face your financial problems (e.g., ignoring the credit card bills) to “minimize” the situation. On the other hand, financial rejection is when you experience guilt whenever your cash increases. People with low self-esteem most likely feel this.

3. RELATIONAL MONEY PATTERNS

Relational money patterns include disorders that are influenced by your loved ones or other social interactions. It exists as financial infidelity and financial enabling. Financial infidelity is when you lie about your spending to your spouse or life partner. For instance, you can open a secret bank account or spend beyond your agreed-upon budget.

Financial enabling, commonly seen in the Asian setting, is when you give money to your less fortunate relatives or friends whether you can afford it or not. You give them money even though it is not in their long-term best interest or because you just cannot say “No!”

Image Credits: Consumerist Dot Com via Flickr with CC License

As you can see, Money Disorders exist in different forms, and often exist without your conscious knowledge. Awareness and identification is the first step to conquer these disorders! 🙂

Sources: 1 & 2

5 Wallet-Friendly Ways To Appreciate Art In Singapore

ART. Whenever I hear this word, I picture beauty, expression, emotions, and empowerment. Truly, Art is a powerful medium that can produce all those. By definition, art is the application of one’s creative skill and imagination that is translated in tangible form such as a painting or a sculpture.

As you witness art in your daily lives, you may wonder what are the active ways you can appreciate it. Appreciation is not only in the knowledge of the different eras and style but is also in the understanding of its timeless qualities. If you think that art appreciation is expensive then, think again! There are a lot of budget-friendly ways you can start with…

1. READ MORE

If you know nothing about art, a good place to start small is by reading about it on the local library. Find books about painting, photography, performance arts, and so on. You can also save time by logging onto your computer or mobile device to search for videos that tackle art.

2. CAPTURE YOUR SURROUNDINGS

Step out of your comfort zone and be brave to take off your shoes and capture whatever you deem as pleasing. The country’s culturally diverse environment shall enrich your knowledge of art. For instance, you can snap the entertaining street performance of “the bead man” at Orchard Road.

Also, in the spirit of the National Poetry Festival, there is creative featured poetry on the different MRT platforms. Follow what catches your eyes – this can never go wrong!

3. VISIT THE LOCAL MUSEUMS

Indulge on the cultural art that is FREE for your viewing. Focusing on one genre that is Asian culture and arts, you can visit the two of the renowned museums in Singapore named Peranakan Museum and Asian Civilisations Museum.

Peranakan Museum is all about the Peranakan ethnic group that is a combination of the Chinese and Malay people. There you will see various documents, jewelries, furniture, textile, wedding accessories and so much more. Admission is free for Singapore citizens and P.R. while it starts at S$3 for children of foreign visitors.

On the other hand, the Asian Civilisations Museum showcases more than 1,300 artifacts from several Asian civilizations such as China, India, and Indonesia. Admission is free for Singapore citizens and P.R. while it starts at S$4 for children of foreign visitors.

4. MAKE DIY PROJECTS

Making art with your own hands is scientifically proven to be self-satisfactory. It makes you value the things you built even more. Also, it adds value to the object’s worth. You may start with simple Paint By Numbers Kit by Paintastic or Canvas Wall Art in these forms:

5. LEAVE GENUINE COMMENTS OR REVIEWS

Beyond appreciation, you can support the arts by leaving positive and sincere comments or reviews on the online products or videos by musicians, artisans, and writers. Each type of art is translated through personal taste; so do not be shy to state your own opinion.

Your taste is wonderfully unique anyway! 🙂

Sources: 1 & 2

Nutritious Detox Ideas That Every Bride Should Do Before The Wedding

Having a toned and sexy physique for the wedding day is at the top priority of almost every bride. And, there is definitely nothing wrong with wanting to look good for the “Big Day”!

Although the body is capable of cleaning or detoxifying itself, our unhealthy lifestyle can slow down that natural process – leading one to feel lethargic, unmotivated, and bloated. To lighten up the load of your body, a nutritious detox may be the best way to go.

Before we get into the specifics, I shall define what “Detoxification” really is. Detoxification or commonly known as detox is a physical or medical elimination of toxins or contaminants from the body, which are mainly carried out by the liver. According to Cambridge Dictionaries Online, it is a period when an individual stops ingesting harmful or unhealthy foods, drinks, or drugs the body for a period of time. All these are conducted to improve your health.

As you find ways to reach your ideal body goal, consider these Nutritious (Yet Inexpensive) Detox Ideas:

1. SUBSTITUTE COFFEE WITH GREEN TEA

A minimal level of caffeine is okay but you have to be aware of how much you take within a week. A brewed coffee has a caffeine level of up to 95-200 mg while a green tea only has 24-45 mg. Change things up a bit by choosing the one with the least caffeine level. Green tea offers vital antioxidants in the most natural form. Furthermore, since it is still caffeinated, you will get the extra morning boost that you need for wedding planning!

2. STAY HYDRATED

Aside from drinking green tea, you shall stay hydrated by drinking the good o’ll water. Water is the simplest way to detoxify your body as it flushes out the impurities when you drink sufficiently. Sufficient intake of water can contribute to properly functioning organs, clearer skin, and better digestion. Make sure you drink enough. As medically advised, drink a minimum of eight glasses a day.

3. WORK OUT

Yes! Exercise shall still be a part of your regimen. Sweating out through running, yoga, or any type of physical activity (e.g., shopping for wedding essentials) for at least 15 minutes can help you get rid of the body’s toxins. Do this on a daily basis. Friendly reminder, as you dive into the physical activity at hand, always stay hydrated.

4. GET A GOOD NIGHT’S SLEEP

A well-rested woman is more likely to shed some weight than a woman who is sleep deprived. This is because your body is more tempted to eat junk food when you are not getting enough sleep. Moreover, sleep deprivation wears the body down and weakens your immune system. So, as much as possible get 6-8 hours of sleep each night and give your body the recuperation it deserves.

Image Credits: TipsTimesAdmin via Flickr With CC License Attribution-ShareAlike

Brides should learn to practice healthy choices in everyday life. They have to make some adjustments, that might be difficult at first, but they are all worth it. 🙂

Sources: 1, 2 & 3

Which degree suits me best in Singapore?

Most bachelor’s degrees take a substantial period of between 3 and 4 years to complete while the steep cost of higher education is enough to wipe out 1 to 2 years’ worth of income (if you decide to take a local degree). Therefore, pursuing a bachelor’s degree is in reality both a time-consuming and financially taxing affair.

To make things worse, some students may realise that they have lost the passion midway through college or could not sustain their enthusiasm for long after graduation. Consequently, they do not find the jobs that are relevant to the skills and knowledge they have painstakingly acquired in the university. This results in a significant wastage of useful resources at the societal level.

From a rational point of view, it is thus in the best interests of both the society and the individual to assess the compatibility between oneself and the particular programme. Specifically, undergraduates can maximise their economic gains from such a hefty investment by patently understanding their likes and dislikes before committing to a particular course of study.

Click to enlarge:

Disclaimer: This is merely used as a quick reference guide.

When to Ask Your Boss for your First Raise

Asking for a raise is like breaking up. There really isn’t a “best time” for it, and a lot of awkwardness will be involved. Unfortunately, our success in life corresponds to the number of awkward conversations we’re willing to have. So if you want to climb out of that low income rut, you’re going to have to bite the bullet and ask–but do it the right way:

The Three Rules of Asking for Money from Your Boss

The first thing you have to do is make sure you don’t break any of these. If you do, the chances of failure are not only exponentially higher, but the consequences will also be steep. Even if you do win your raise while breaking these rules, you will incur the resentment of your employer and could pay for it throughout your career.

Always signal your intentions. Always give your boss forewarning. Drop a polite note saying you would like to set a time to discuss how you’re being compensated. If you corner your boss at the water cooler and ask for a raise, 99% of the time the answer will be “no”, or a polite brush-off.

Prepare justifications based on results, not on how hard you worked. You will need to make a list of achievements before negotiating. “Achievements” are not the number of hours you worked, or the personal time you’ve given up (we hate to tell you this, but most employers don’t care). Achievements are how much money you’ve made for the company, how you improved a product or service.

Always have help. Find a team or department leader whose schedule would be badly affected by your departure, and tell them about it first. If someone relies on you for budget reports, for example, tell them your plans to leave if you can’t get a raise. And then ask them to back your credentials when you negotiate with your boss. Here’s a secret: whether you get a raise is often dependent on how hard team leaders fight for you, not just how hard you fight for yourself.

Timing the Moment

Obviously, the best times should be just after a good performance review, or after a successful project. But things are seldom so convenient, so look for the following times instead:

Wait About Three Working Days after Informing Your Boss of Your Intentions

As mentioned above, never corner your boss and discuss your raise on the spot. Send a short e-mail or, even better, meet her face to face and ask if you can talk about your compensation “later this week”.

Three days is a good interval, which will also give you time to prepare what you need. It will also give your boss time to reflect on your contributions.

Ask about Two Weeks after a Big Win

Use the “halo effect”. When your department or you have performed well, you are in a good position to negotiate a raise. However, don’t do it immediately, as it will be too obvious that you are trying to capitalise on it.

You’ve Just Heard the Report on Your Employer’s Financial Health

If you just heard a rah-rah report about your company doing better, try to time your request close to date you heard it. You can also obtain this information from a prospectus or annual report.

It is better if you make the request after it has been announced however, since it’s harder for your employer to use lack of money as an excuse.

You’ve Checked and Compared Your Earnings

Use sites like Payscale to check your earnings compared to your peers. You might even want to go so far as interview for positions in other companies, to see how much they are willing to offer. In general, you are right to ask for a raise if you are on the low end of the pay scale (bottom 50%). If you are already on the high end of the scale, you had better have some kind of massive achievement of late to justify the request.

If the timing is right and you’ve prepared the right details, then go ahead and make your move.

Just remember though, if you do get a raise, don’t go crazy with it. Your first priority should be to pay down any credit card debts that you have. Your credit card should be saving you money, not costing you money. If that’s not the case, drop by SingSaver.com.sg to compare and find the best credit card for your needs.

(This article is brought to you by Singsaver.com.sg)

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