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How to Curb Your Shopping Addiction

We live in an era of consumerism.

With multiple sources of influence, such as that new Dior perfume advertisement on the television, or your friend’s #humblebrag about her newest bag on Instagram, it is certainly exceedingly easy to fall into the trap of compulsive shopping.

Or perhaps, you may find yourself overspending due to your tendency to hoard stuff that you take a fancy to.‘See that dress over there? Well, it’s the last in stock, so you’d better get it if you like it, or it’ll be gone when you actually do come back for it.’ And as this train of thought follows you into every boutique store that you enter – well, it is hardly surprising that you find your arms laden with shopping bags a mere three hours later.

Another reason why you might be finding your wallet losing it’s weight way faster than it ought to be, would be your tendencies to engage in retail therapy. Indeed, shopping may be a rather effective way of dissipating any negative thoughts, as the joy of purchasing items that you have been hankering for may be sufficient to negate these unpleasant feelings that have been building up inside of you. However, as you pull item after item off their rack in pursuit of such short term gratification, you might find yourself chalking up a debt on your credit card that would merely return to haunt you in the long run.

Our penchant to spend uncontrollably is further compounded by the fact that online shopping is bigger and better than ever, and it’s ability to influence consumers like you and I, has expanded to an unprecedented scale. With such frequent ‘Black Friday free shipping promotions’, ‘New Year’s sale’ or ‘20% off flash sales’ notifications constantly being sent to our very inboxes, it may certainly be difficult to resist the lure of online shopping. Before you know it, you have just carted out yet another 3 items. Uh-oh.

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Yes, the struggle is only too real.

Soon, you’ll be finding yourself with a bank account that has been run dry, with a closet that is bursting at the seams yet comprises largely of unnecessary buys, and a despondent heart that aches for the credit card debts you’ve accumulated – an absolute financial nightmare realised to its full potential in the remarkable span of only a few months.

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Fear not, all is not lost! Just because you have found yourself ensnared in the ways of compulsive shopping, does not necessarily mean that it is impossible to extract yourself from this painful situation of cyclical impulse and regret.

Here are 5 ways to reign in that shopping addiction of yours!

1. Shop with a supportive friend

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See, we all have two types of friends – the supportive friend and the enabler.

If you’re genuinely out to save money and cut costs, shopping with an enabler is just about one of the worst decisions you can make – you’ll most likely end up splurging again, if not more! The enabling friend will probably encourage any compulsive shopping behaviour, instead of dissuading you from buying into unnecessary wants. Certainly, this is not to say that enablers aren’t good friends in general. They’re most likely avid shoppers themselves, who may be addicted to shopping just like you are, and the both of you will merely suffice to mutually enable if you shop together.

Instead, shop with a supportive friend – a friend who doesn’t gush quite as much about clothes as you do, or perhaps a friend who is always practical and grounded. While a supportive friend may not be the most engaging shopping buddy (they probably won’t rave about the newest fall trends or the latest designer shoes along with you), you can always count on him or her to ground you when you’re getting over your head (and your budget) while shopping. The supportive friend knows that you have a hard time controlling your spending urges, and forces you to think about whether you really need that item, or whether it is within your range of affordability. Certainly, by shopping with a supportive friend who is genuinely concerned and bothered by your spending habits, you’ll find that you will be able to cut down significantly on your monthly shopping expenditure. In other words, there’s nothing quite like a killjoy friend to cut your shopping frenzy short, and pressure you into making wiser spending decisions.

On a sidenote, if you’re simply too stubborn to be talked out of a spending decision, have your friend hold on to your wallet for the rest of the day. A little desperate in measure, but I’d figure this would work best when it comes down to the crunch.

2. Unsubscribe from newsletters and email notifications

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For massive online shoppers like myself, you’ll find that unsubscribing yourself from the frequent newsletters and notifications that flood your inbox on a weekly basis does wonders in helping you to spend less. With the rapid pace of the online shopping industry, in which new collections and fresh arrivals are churned out relentlessly each week – or even every three days, it is exceedingly easy to fall into their marketing trap and spend beyond your limits. While you may not feel the pinch of taking your pick of just one item from each new collection, just buying 1 item each week from a single webstore would equate to 4 new wardrobe additions each month. Imagine the full extent of such an online shopping obsession if you purchase 1-2 pickings from a spread of several webstores each week! An online shopping addiction can be a scary reality indeed.

To cut down on online shopping, start by unfollowing your favourite stores on Instagram, unliking their Facebook page, and removing yourself from any mailing lists or email subscriptions. By cutting yourself off from these sources of marketing and promotions, you are effectively cutting yourself off from the irrational impulse to buy, buy, buy as well! After all, the urge to splurge certainly will not surface, if you do not even know about that latest flash sale in the first place!

It may be a painful process to remove yourself from these channels, as this inevitably leads to an unpleasant foreboding that you will be missing out on a lot – but trust me, if you are genuine in restricting your spending, this method will prove duly effective (or so I have indeed learnt from personal experience).

3. Switch out all your credit cards for debits

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If you have a tendency to overspend, perhaps it may be timely to use debit cards in place of your usual credit cards. Given that every purchase made using a credit card is first paid for by your bank, it is terrifyingly easy to lose track of your spending and splurge over your limits. The consequences of such overspending will only come back to haunt you after each month, as your credit card bills arrive, and your bank demands for repayment. Failure to repay any credit card bills in full could lead to an accumulation of credit card debt at an astounding interest rate, and could soon snowball into a massive debt if not managed properly.

To avoid such an unpleasant situation, switch to debit cards instead, where your spending is directly linked to a bank account and expenditure is much easier to track. Witnessing your depleting bank balance when you overspend could also serve as a wake up call for you to cut down on your shopping immediately, in comparison to credit cards where you may be more tempted to spend beyond your thresholds given that your shopping is paid on loan which makes it tough for you to visualise the toll that your spending is taking on your hard earned savings.

If you are aware of your compulsion to shop, and that you have poor financial responsibility, making the decision to switch to a debit card would certainly be wise in the long run. Sure, you may not be able to enjoy as much rewards and additional perks or discounts when using a debit card, as compared to a credit card, but hey on the brighter side, at least you can be pretty sure that you won’t find yourself debt-ridden anytime soon.

4. Replace your shopping habits with new hobbies

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Your shopping addiction may have arisen due to the emotional dependence that you place on it. Perhaps you used to turn to retail therapy as a way to assuage your fears, worries or troubles, but you grew reliant on shopping as a way to relieve all your emotional woes over time. This eventually culminated in an obsession to impulse buy whenever your psyche takes a turn for the worse – a costly habit indeed.

Instead, opt for a more financially savvy method of lifting yourself from an emotional low. After all, shopping is just one of many other ways that can provide emotional healing. Why not spend some time exploring alternative hobbies that can provide you with the same sense of escapism and momentary uplift that shopping does for you? For instance, running, watching television, knitting or reading are all viable alternatives that you can employ to substitute your compulsive shopping therapy habits, as they provide a source of distraction, and they each have a calming effect on the mind as well.

Find your own alternative past-times – surely you’ll be able to find a leisure hobby that is more productive and less expensive than shopping, yet able to provide you with the same amount of therapeutic help.

5. Pay for all your shopping using cash – and only cash!

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It may indeed be tempting to seek the convenient way out and simply use a credit or a debit card to pay for all your purchases, as the swift checking out process of merely a swipe and go of your card makes shopping all the more breezier. While this is appealing in concept, the reality is that it is so much easier to overspend and get ahead of yourself while shopping this way, as there is no visible form of monetary exchange, and it takes a longer time for the painful truth to set in that you have entirely blown the roof off your budget – yet again.

Instead, opt for payment by cash for all necessary transactions. Watching the cash deplete from your wallet is more likely to ground you, and force you to face the truth that you ought to slow down on your spending. Furthermore, by choosing to pay for your purchases strictly using cash, it makes it so much easier for you to budget, as you can decide on the exact amount that you’d like to spend on shopping and food for the day.

A little rudimentary, yes. But the feeling of accomplishment that you will get when you finally realise that you have managed to curb your shopping addiction, and that you’re finally able to chalk up a decent set of unspent savings for the first time in several months, will certainly be well worth this slight effort.

What effect does the New Year have on the stock exchange?

The Christmas holidays and the New Year are over and 2015 has finally arrived. But what does that really mean to an investor? Is there any effect at all? Public holidays always create a little turbulence in the market – no matter where and what the holiday is about. This effect can be positive or might have negative influences on the stocks. However, it is important to understand these disturbances and use them to one’s advantage. Reading the market correctly can bring an investor advantages – however, not only for a few trading days, but for the entire year. The movements of the stock exchange before and after the New Year can give indications for the months to come.

The swinging of the stock market around the New Year is also referred to as the January effect. One can generally say that the market and many stocks are going up during the month of January. This is due to the sudden increase of the amount of investors buying stocks. One might naturally question this tendency as pure chance. However, it is statistically recorded that stocks are being bought in January and especially during the first five trading days of the New Year. The question is – why is that the case? It has to do with tax-loss selling. Investors tend to sell those shares that are not bringing any money in the very end of December in order to counterbalance capital gains that have been made during the year. Therefore, the stocks that have been sold in the old year will be at a discount price of their actual value during the first trading days of the coming year (2015). This will trigger a bargain hunt within the first week of trading in 2015. The effect is increased buying pressure in the market. This tendency holds for most markets – no matter whether New York, London or Tokyo. However, the extent of the January effect can vary from market to market.

One should be aware of the fact that the January effect is a mere indication and not a rule. The effect is purely created by the desire to create tax losses in the end of the year. However, investors are starting to use different schemes, such as tax-sheltered retirement plans, to balance their accounts and enjoy tax reductions. For that reason the sell-off can occur in a reduced measure. It however does happen. Bargain hunters should therefore pay attention to whatever was sold off during the last trading days in 2014. If one wants to attempt a profit, one has to look for risky shares and securities. These are mostly sold off in December and are therefore available at a low price. The opposite happens during December. The demand for lower risk securities, such as government bonds, is driven up. Investing early enough into these lower risk securities can potentially generate a substantial increase in value. The art of benefiting from the New Year swing at the stock exchange is connected to front-running the effect. Although the extent is impossible to be predicted precisely, the shift and the tendency are undeniably occurring.

How can the swing predict the tendency of the year and how to read it? As every market has of course their indicators, one cannot make a general prediction for the entire world economy, but has to watch each market individually. For example, the indicator for the US market is the S&P 500, which is the American stock market index. Statistics have shown that if the S&P 500 has a positive gain within the first five trading days of the year, the chance that the American stock market will increase for the rest of the year are extremely high. Similar tendencies and statistics hold for other markets too. Wanting an indication or prediction for the rest of the year, one has to monitor the stock market index. The benchmark index for the Singapore stock market is for example the Straits Times Index. Other important global indices include the S&P 50 for Asia, the DAX for Germany and the Nikkei 225 for Japan.

There are few things to be kept in mind. The January effect tends to be weakened when there is an ongoing recession. As various markets suffer differently from poor economic situations, each market stands for itself. If the American economy is in a recession, it doesn’t mean that the Singaporean economy is instantly affected. The same holds for predictions. These however are important for the January effect. It generally holds that if there is a recession, the January return will be reduced. Furthermore, the extent of the January effect also depends on the institutional investors, such as portfolio managers. As they are responsible for a large extent of the trade, the decisions of the portfolio managers can sway stocks one way or another. Usually if the prediction for the coming year is positive, they tend to invest large amounts in risk security within the first few trading days of the year. The same is true the other way around. Negative economic predictions will keep institutional investors from buying. Therefore, the opinions of these investors can heavily affect the January return.

First of all, the New Year does have an effect on the stock exchange like other holidays as well. However, the effect and the potential benefits are larger than with other holidays. Although the New Year will most likely not be the coup of the country, there are profits to be made. If the January returns are positive, they are usually strong. However, they are not guaranteed. When investing within the first month of the year, one should consider various points. The most important factors are the general prediction for the economy for the coming year and whether there is a recession ongoing. In case both are positive, one should pay attention to the stocks being sold off heavily in the end of the year. These stocks will most likely be available below their real market value when trading resumes in the first week of the New Year.

7 Low-Cost (or Free) Ways to Lose Weight

One of the top 10 new year’s resolutions of a million people is to lose significant weight. This may be an ongoing resolution that has yet to happen, therefore the decision to lose weight is becoming more emotional.

Along with the article called “5 Ways to Shop for Healthy Foods Without Spending Too Much“…here are 7 Cheap Ways to Lose Weight…

1. STREAM FREE EXERCISE VIDEOS

Watch free exercise videos on youtube and across the Internet. Personally, I recommend Cassey Ho’s Blogilates as she incorporates Pilates, Yoga, and Cardio workouts. Aside from free exercise videos, the Internet is abundant with free or cheap Fitness Plans and Health Information. So, your only job is to make sure that the website is credible.

2. GO MEATLESS ONCE A WEEK

Nutritionist Rania Batayneh says that a sure way to burn off pounds and to save money is by going meatless once a week. You may substitute meat with tofu, beans, and mushrooms.

3. GROW AND COOK FOOD BY YOURSELF.

Growing your own food is organic at its finest. If you do not have a backyard or an apartment balcony there are community gardens for you to plant your own seed.

Image Credits: woodleywonderworks via Flickr

By dinner time, you can browse online (e.g. Kraft Recipes or Eating Well Recipes) for healthy recipes and cook your own food.

4. GAGA OVER GREENS

Kale, arugula, and spinach are some of the most nutritious and affordable foods you will find in a grocery store. As the color of the vegetable gets darker, the more nutritious it is because of its antioxidants and beta-carotene.

Image Credits: Wonderlane via Flickr

5. BUY CHEAP GROUP WORKOUT DEALS

Take advantage of a low-cost workout class if you are undecided and you do not want to spend hundreds of dollars for a gym membership. Groupon.sg is rich with Zumba, Yoga, Pilates, and Boxing Classes that range from $28 and below.

For example, here is a “Four 60 mins. Boot Camp” pass at $19 only! It will not only push your limits but it will also aid you in losing weight. Usually, newly opened gyms or studios give 1-week free trial so you better watch out.

6. RUN, JOG OR CYCLE OUTDOORS

The healthiest way to lose weight is neither crash diets nor starving yourself. But, the healthiest way is the gradual increase of exercise. As you increase the exercise intensity and duration, you will change your own body mechanism in time.

Try walking or biking to work if you live within a few miles. If that is not an option, then skip the elevator and take the stairs instead. Not only will you save on gas, but you’ll burn calories as you go.

Image Credits: Fit Approach via Flickr

7. EXERCISE AT HOME

Stay fit in the comforts of your own home. You may choose to buy bargain workout DVDs or use the resources you already have.

For example,

Use paint cans or bottle with rocks to work on your biceps.
Find a stable bar at home for chin ups.
Or, do sit-ups and push-ups without any equipment.

Image Credits: Jordan Misner via Flickr

You are now looking to the future with hope and expectations. What better investment could you make than with your own health?

8 Places To Countdown 2015 Without Hurting Your Wallet

Twelve more hours to 2015! Aren’t you excited?

Christmas is over but the party hasn’t. It’s time to usher in 2015 with a bang!

Where would you be heading to for the last day of the year?

While everyone is flocking to Zouk and Siloso Beach for the countdown and goes hysterical over the Party Rock Anthem, let us take a look at some of the budget-friendly places you can go to!

Marina Bay/Esplanade Singapore Countdown 2015

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Where would be a better place than Marina Bay where the fireworks are set? To celebrate SG50, the fireworks display will be eight-minute long choreographed to a score by Julian Wong and Riduan Zelani. The red and white “wishing spheres” will be set afloat in Marina Bay with 400 drummers performing along the boardwalk.

If you had managed to get hold of the ticket to the show at The Float @ Marina Bay, catch Stefanie Sun, BIG, BANG, Kit Chan in the seven hour bash. It will also feature artists like Dick Lee, Dim Sum Dollies and the 8 Dukes of Caldecott Hill – Ian Fang, Xu Bin, Aloysius Pang, Shane Pow, Desmond Tan, Romeo Tan, Zhang Zhen Huan and Jeffrey Xu.

Community Countdown Party

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Hate to travel and squeeze with the crowd? Then head over to your community countdown party just located in the heartlands! The parties will be held at Bishan – Ang Mo Kio Park, Punggol and Boon Lay. Performance such as flash mob dancing, cold pyro fireworks, stilt walking and juggling will keep you entertained and with over 100,000 residents joining in the fun, you will not miss any excitement from this celebration!

The Rink, JCube

Post by The Rink.

Love the foam party at Siloso Beach? Try something new this year with a Foam Party hosted on Ice in The Rink, Cube. It starts from 9.45pm to 12.45am and admission costs $28. For more info, visit www.therink.sg.

Clark Quay Countdown

Countdown to 2015 with MediaCorp Class95FM DJ Glenn Ong and 987FM, Sonia Chew at the Central Fountain Square, Clark Quay! With a long lineup of spectacular performances all the way until 12.30am coupled with colourful street decor and lightings. Make your 2015 GLOW-ing as you welcome 2015 in COLOUR. There are also street parade, roving percussionists and band performance by Goodfellas (SG). Did i say the admission is free?

CHIJMES

Light up your festive mood with a spectacular countdown line-up from CHIJMES! With performance from The Project Band, Attagirl! and DJs with host Derrick Siu, it can’t get better! If you arrive early, you can also catch band performances from Idah & Friends, The Lorong Boys and Sarah Yap. With free admission, and its vicinity to Marina Bay, there is no better place to catch the dazzling fireworks.

The Rabbit Hole

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If you around Dempsey area, consider dining at The White Rabbit as you can catch Parisian DJ Zimmer at the Rabbit Hole from 9pm till late. Head over with your grooves. They have got the music. Admission is free.

Bollywood Countdown 2015

Fan of Hindi music? Indian Rock Bands? Then head over to the biggest Bollywood countdown at Dhoby Ghaut Green, Amphitheatre. Featuring live bands from India and Singapore such as PUNKH and Dhuntara, party till you drop! Family friendly event, so bring your kids along to join in the festive cheers. There are dance, buffet dinner, DJ and entertainment. Adult entry cost $35 and Child entry cost $15. Check out www.etickets.sg for the tickets!

Go Loco Local 2015 Countdown Party

Grooves to the gigs by five local acts at the airport’s lobby lounge from 9pm to 1.30am. Singaporean blogger Mint Leong will emcee of the day. There will be a constant stream of events from 9pm with performances by Ciao Turtle, The Jaywalkers, JJ and the PaperPlanes, Marc X Hasy and Orangecove. To add on the the fun, there are also challenges, games and lucky draw. Admission costs $32 per pax with two rounds of soft drinks or draft beers or $48 for two rounds of house white wine, red wine or spirits.

SCAPE Collision 2015

Dance to the music with top club DJ Koflow. Feel the vibes of the place, with live performances by international and local dancers and DJs. Catch the Blue Whale Brothers (Korea), Dominique and Shun (Japan), the Basic Five X The Stand-point Mafia, The Passionate Dancing Elders, Flair Origins and DJ pSyK in the countdown. What about a dance battle from world class dancers at 1am? Admission cost $25 for standard ticket and $20 for students.

Don’t get electrified by Dominique!

8 Inexpensive Home Decor Tips for Newlyweds

After the wedding, the next thing that newlyweds must invest on is the house. You may have to work harder to keep the interior look fresh. And, as you make significant changes in your house, it will have a tow on your paychecks.

But, that shall not always be the case. Here are 8 Cheap Home Decorating Ideas for you love birds…

1. FLARE WITH FRAMES

Add the “wow factor” to your side table by adding an attention-getting frame. Here are a mix of photo frames from Ebay.

Image Credits: DarrelBirkett via Flickr

2. POSH WITH PILLOWS

Whenever guests arrive, the first thing that they will see and stay longer on is the sofa. Dress up your dull sofa by adding bold printed cushions such as animal, island-floral themed or a suede pillowcase. IKEA offers a wide range of pillow cushions designs that range from $1.90 to $19.90! It is not only elegant but it is also affordable!

Image Credits: Stacie via Flickr

3. LIGHTS ARE EVERYTHING

Purchase more in lower-wattage bulbs to change a room’s mood from restful to romantic. And, if you want to take the romantic a level up…use table lamps or floor lamps to put a lights wherever you want to cuddle.

4. PUT A PAINTING ON

You may buy pop-art (Product name: KNISTA) , minimalist, and vintage looking (Product name: OLUNDA) illustrations for only $19.90 at IKEA. This will add beauty to your simple rooms.

5. REVAMP THE WALLS

One of the fastest ways to make your house extra expensive is by giving the walls a new look. Paint the walls of your living room with a higher contrast color to make it pop. Paint your kitchen orange to make the food inducing and the bedrooms purple to make it more relaxing.

Image Credits: Maegan Tintari via Flickr

6. GO GAGA FOR COLOFUL-POTTED GREENS

Having a few small plants in the kitchen will make it feel livelier. Adding a pop of color to its pots or vase will surely make your guests green with envy.

7. RUG IT UP

To quickly fix a room’s problem area, you may throw a rug on the floor. Rugs add an interest and an interesting focal point to the room. Shop around for bargain rug that fits your room.

8. WORK WITH WHAT IS AVAILABLE

One of the most efficient yet no-cost ways to redecorate is to rearrange and repurpose the things you already have. Search your house and think of the items you can change the setting in another room.

Make your kitchen chairs look new again with a little splash of spray paint and new fabric covers.

Image Credits: mattwalker69 via Flickr

These simple decor ways will not only change your house but also your lives as Husband and Wife!

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