life hacks Archives | Page 8 of 28

Should You Lend Money To Your Significant Other?

Lending money to your lover is a tricky business. You may be in a position where trust is completely present but, financial debts can pull you apart. An otherwise happy, supportive, and healthy relationship can come to an end if the money you borrowed is left unpaid.

With the exclusion of married couples, here are the things you must consider if you are thinking of lending your boyfriend or girlfriend money…

OBSERVE YOUR SIGNIFICANT OTHER

As societal norms dictate, lending your money to your fiancé or your spouse is acceptable as you handle payments together. If you are not on that stage yet, you must make a decision with your head and not your heart. Observe the actions of your boyfriend or girlfriend carefully and compare it against your preferences. Opt for someone who is financially stable and fiscally responsible. This does not mean that you are a gold digger rather it shows your perceptive nature.

For instance, your boyfriend borrows money from you in order to pay the bills because he spent his salary on the new game console. Are you going to lend him the money knowing he might not be able to give it back? Can he be able to handle greater financial issues as they arise? Think about it.

MAKE IT A PRESENT

If the amount is relatively small, consider it as a gift that you do not expect back. Do not lend an amount unless you are able to accept the fact that you may never see it again. That is always a possibility and you do not want to ruin your loving relationship with a “couple of bucks unpaid”!

EXAMINE YOUR FINANCES

Before anything else, make sure you can afford to lend and are not in debt. Just because you love your significant, does not mean that you are encouraged to loan him or her money despite being stuck with debt. Do not put your financial future on a downward slope just because your partner cannot manage his or her money too.

PUT AN INTEREST TO IT

When lending money for bigger things such as “buying a motorcycle”, you are bound to get paid for the full amount for a long period of time. For this, you need to make a signed contract that lay outs the amount of money borrowed, the interest rate, and the date/s of repayment.

Image Credits: pixabay.com (CC0 Public Domain)

Chances are, your partner is asking for your help to avoid high interests offered by the banks. Consider having your partner match your savings account interest rate instead.

Sources: 1, 2, & 3

5 Simple Ways To Curb Your Online Shopping Tendencies

Almost every Singaporean loves to shop! When the convenience of online shopping was introduced, sales soared higher. Online shopping can be a delightful experience however, it can cause a major financial problem.

If your closet is bursting at the seams and your debt is piling up due to online shopping, then it is time to control your shopping tendencies. Start with these simple ways:

1. DO NOT SHOP WHILE TIRED OR TIPSY

According to Psychologist Graham Jones, author of Click.ology, making buying decisions when you are tired or tipsy can lead to regretful purchases. Instead, he suggests for you to reserve the item to the cart and revisit it the next morning. Once you are mindful about your online shopping, you will be able to make better decisions.

2. AVOID CLICKBAITS

Seeing a huge banner ad of the latest IPhone is not a sign from the universe that they are meant for you, they are simply clickbaits. Clickbaits have the sole purpose to attract visitors and draw attention to a particular website. To keep you from getting tempted, clear your browser’s history and cookies or download an App that blocks advertisements.

3. UNSUBSCRIBE FROM EVERYTHING

A surefire way to cut down your online shopping tendencies is to unsubscribe from all the promotional emails. Marking them as “spam” or “trash” will not stop them, instead you must go straight to the “unsubscribe link” and follow the steps. Unsubscribe to flash sales and auction sites as these are some of the most addictive shopping sites.

4. DO NOT BE FOOLED BY FREE SHIPPING

If you saw an online shop that offers free shipping, consider the extra costs of that deal. For instance, retailers may set minimum-order rules for free shipping or they may charge you for return policies. Add up the product price plus the extra fees first before making a purchase.

5. DELETE THE SHOPPING APPS

Shopping apps are tempting for all consumers and not just the addicts! The convenience of shopping at one’s fingertips as well as swift online payments have helped increase the online shopping tendencies of many. As everything is convenient, there is only a small room for contemplation and clearer decision-making. Hence, you must delete the shopping apps from all your devices.

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1 & 2

Why Is Earning Money A Challenging Task?

COMMON REASONS FOR DIFFICULTY

1. FEELINGS OF INADEQUACY

The feelings of unworthiness and incompetence can drag many people away from accomplishments. If your mental dialogue focuses on these things then it can result to low self-esteem, lack of enthusiasm, and lack of creativity. No matter how much you want to succeed, these results can make you unsuccessful at work.

Your mental dialogue affects your behavior.

2. NEGATIVE ASSOCIATION

Money has been portrayed in media as a currency that most people fight for. Whether the news showcases a bank robbery or criminal dealings, the world has seen how money can make people “bad”. As the saying goes: “Money is the root of all evil.” This negative association fed by the environment is stored in our unconscious mind. If it is something undesirable, your unconscious mind is bound to “protect” you from it.

Hence, the negative association can affect how we deal with money.

3. FINANCIAL FEARS

Most of us are overwhelmed with a certain financial fear. Some of us may take the conscious effort to resolve it. However, many of us do not take the necessary steps to overcome it. They simply allow the financial dilemma to drive their life choices.

Know if any of these fears consume you (click here).

4. THE COMPETITION

One the higher end of the spectrum are the people who earn millions of dollars each year. Sam Wilkin, economist and author of Wealth Secrets of the One Percent, says it is difficult to be as rich as them because of the competition that is present in an open free market economy. Much like United States, Singapore has a highly developed and prosperous free-market economy.

There is a possibility to become immensely rich but you will have to dedicate your life to high-risks and high-return strategies.

STEPS TO TAKE

1. DO NOT FOCUS ON MONEY ALONE

If you take money as your primary motivation to work then, you will be depressed when it is gone or not enough. Focus on the reasons why you earn rather than how much you earn.

2. LOVE WHAT YOU ARE DOING

If you love your job then you will have a positive association with money and occupation. You will find fulfillment in your passion even if you have a relatively small income and long working hours.

3. MANAGE YOUR MONEY

You shall have control over your money and not the other way around. Be wise in saving, spending, budgeting, or opening a business. Instead of a shopping list, make a list on how you can grow your wealth.

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1, 2, & 3

Irrational Financial Beliefs That Most People Have

Let me start by defining what irrationality and irrational beliefs are. Irrationality is thinking or acting through emotional distress, insufficient use of reason, or cognitive deficiency. Thus irrational beliefs are the baseless opinions, attitudes, and values you possess that are beyond what the world really is. Particularly, your irrational beliefs about money shape how you spend.

Start by recognizing your irrationality with the 4 Irrational Financial Beliefs That Most People Have…

1. MONEY CAN BUY ME LOVE AND ATTENTION

If you believe that you can gain the affection and attention of others by earning enough money then, you are on the wrong track! Even if you are the shiniest dollar in the bank, you can’t please everybody.

When you put earning money as your top priority instead of valuing your family and friends, your self-worth will shrink once you lose your wealth. It is better to focus on the things that you can control – loving yourself and paying attention to others.

2. YOU CAN NEVER HAVE ENOUGH MONEY

Irrationality happens when you are not dealing with the truth of what really is and what you would like it to be. Your high expectations affect what you consider as “enough” money. Most people tend to accumulate debt by trying to reach this point of “enough”.

Instead of believing in this irrationality, live within your means by fulfilling your needs. Begin with the basic needs such as survival and security. Then allocate a portion of your money for your wants. Reach the lifestyle you desire by smart money management and not by debt.

3. MONEY CAN BUY HAPPINESS

I am sure you know people who believe that money is the quintessential source of their happiness. However, according to the words of Dr. Kathleen Gurney (CEO of Financial Psychology Corporation): “It’s not money that makes you happy…it’s how you use it.”

Studies show that you will get more satisfaction if you spend your cash towards memorable experiences such as vacations than towards material things such as a new table. Likewise, lending out possessions can help you enjoy the material things that your money bought.

4. MANAGING YOUR FINANCES TAKES LITTLE EFFORT

If you are one of those people who merely go by what the bank says and do cannot seem to organize your financial affairs then, you might be in trouble. Your bills and loans will not just go away on its own! It takes valued time and consistent effort to get your finances straight. Avoiding your responsibilities may make you happier in the short run but it will haunt you long after. So invest on real commitments and pay attention to details. If you are married, it is good to consult your spouse for all things related to money.

Image Credits: Chi King via Flickr

Sources: 1, 2, 3

Genius Cleaning Hacks To Save You Money And Time

USE VINEGAR TO CLEAN THE BATHROOM

Your S$2-3 bottle of white vinegar have uses that are beyond the kitchen! To clean the toilet, pour a cup of distilled white vinegar into the bowl and let it stay there for 5 hours or overnight. Then, scrub it well and flush. To clean your tub and kill the germs, spray white vinegar around the tub. Then, wipe it with wet cloth to clean.

USE BLOW DRYER TO REMOVE WATER STAINS

Spills from your mugs, glasses, bottles, and cans can leave a whitened “ring” that can be easily visible on furniture. Before you replace or repaint some tables, a simple yet efficient shortcut is to use a blow dryer to clean it. Hold the blow dryer (high heat) close to the ring and see it disappear in a few minutes. Once it evaporates, add a small amount of olive oil to re-condition the wooden table.

USE A DRY TOWEL TO SPEED UP THE DRYER

To save money on electricity, you must reduce the amount of time it takes to dry your wet laundry load. Simply add a dry towel to your dryer with other wet clothes. This trick works because the dry towel absorbs the excess moisture around your dryer.

USE AN IRON TO ELIMINATE CARPET STAINS

To eliminate nasty carpet stains without professional help, clean it with white vinegar, iron, and water. Start by mixing 2 parts of water with 1 part of white vinegar in a spray bottle. Spray this solution on the stain. Then, iron the rag (steam setting) for about 30 seconds or more. This shall remove the stain as well as its unpleasant odor.

USE A DIRECTORY OF THE CLEANING SERVICES IN SINGAPORE

If all else fails, save time and effort by having a directory of the top cleaning services in Singapore.

a. NTUC Domestic Cleaning Service
Location: 75 Bras Basah Road, NTUC Income Centre, Singapore 189557
Contact: 6788 8788

b. House Cleaner Singapore
Location: 538 Bedok North Street 3 Singapore, Singapore 460538
Contact: 6844 3382

c. Home Cleanz Cleaning & Laundry Services
Location: 332 Changi Road, Singapore 419807
Contact: 6440 3342

d. Domestic One Cleaning Service
Location: 47 Hill Street, #06-06 Singapore 179365
Contact: 6100 2388

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1 & 2

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