life hacks Archives | Page 9 of 28

9 Smartest Ways To Save Money As An Individual Or An Entrepreneur

IMPROVE YOUR PERSONAL FINANCE

1. ELIMINATE AN EXPENSE

Spend at least 5 minutes on examining your last month’s utilities bill or last month’s credit card statement. Use your hawk eyes to look for one unnecessary expense that you can reduce. Whether it is the unusable gym membership or the expensive dinners at the restaurants, you must commit on eliminating it and saving more.

2. KEEP THINGS SIMPLE

Save more on clothing and handbags by keeping your closet “simple”. You do not have to wear the same outfit everyday like Facebook’s founder Mark Zuckerberg or Apple’s late founder Steve Jobs, just save money by avoiding costly designer clothing and purchasing during year-round sales.

3. SHOP AROUND FOR MEDICATIONS

When prescribed with medications, carefully compare the prices from the different providers to get the best price. According to Ministry of Health guidelines, every patient must get an itemized medication bill. To save more, ask your physician if there is a cheaper yet equally efficient alternative especially if you are taking medications on a long-term basis.

CUT DOWN YOUR HOME EXPENSES

4. DE-CLUTTER AND EARN

Save money by increasing your income through de-cluttering. Clean the clutter in your closet and find the things that you deem to be unused or underused because you can sell them online. The old clothing articles of your children as well as your old devices that are still in good condition can be sold too. Sell your items to the global marketplaces such as eBay, Carousell, and Gumtree.

5. CONSUME THE LEFTOVERS

Save the unconsumed food when you either ordered too much restaurant food or when you cooked excessively. Regularly label these leftovers so you can keep track of how long it has been in your refrigerator.

6. UNPLUG REGULARLY

Even if you turn off the switches, your appliances and electronics will continue to consume energy and spike your tariff. So reduce your bills by unplug your cables and electronics when not in use.

Image Credits: moneydigest.sg/wp-content/uploads/2014/12/4153368583_15706e04a2_z.jpg

Instead of leaving the TV on as a background noise, consider using your hand phone as a radio. This small daily act can save you a month’s worth of major electricity.

LOWER YOUR BUSINESS COSTS

7. TAKE ADVANTAGE OF CHEAP ADVERTISING

Use free websites to post your ads. Online classifieds are a good choice as these are cost-effective, convenient to relay contact, visible to a large-scale of consumers, and the you are able to edit a listing anytime. Browse a list of good advertising websites here.

8. EMBRACE MODERN TECHNOLOGY

Instead of buying bulky desktop computers, invest on laptops as they are not only less expensive but they also consume less energy. Whenever possible, use these laptops and Internet tools to communicate effectively. For example, if you are planning to call your international client, call them through Facebook’s free video chat.

9. IDENTIFY THE TAX DEDUCTIBLES

As an entrepreneur, it is important to know the types of tax breaks, reliefs, and deductions you can take. In fact, budding businesses can avail the Tax Exemption Scheme For New Start-Up Companies as well as the Angel Investors Tax Deduction Scheme.

Image Credits: pixabay.com (CC0 Public Domain)

Educate yourself about the tax deductibles by visiting iras.gov.sg.

5 Efficiently Quick Ways To Beat Financial Stress

These days, there is no shortage of reasons why people are anxious about money. From higher unemployment rate to expensive school fees, everyone has their own share of financial stressors. And these accumulated stress can be detrimental to one’s health when not managed.

On that note, here are simple ways to conquer your inner beast:

1. DETERMINE WHAT STRESSES YOU OUT

Spare at least 10 minutes of your time to identify what triggers your financial stress. Whether it is dealing with your horrific credit card balance or realizing that you are barely hanging onto your job, write down your three greatest financial stressors at the moment. It is important to keep the list short to avoid feeling overwhelmed.

2. CHANGE YOUR MINDSET

Staying positive in a seemingly challenging financial situation can help you get your thoughts together and motivate you to change. Rather than mourning about your piles of debt, visualize how great your life can be with less of them. Then, repeat an internal dialogue that aims to conquer that stressor. For instance, you may vow to spend about S$100 less each month in order for you to pay more for your debts.

3. FOCUS ON SMALL AND SUSTAINABLE GOALS

You do not have to beat your financial stress head-on immediately. Just as crash diets can lead to burnout, overly ambitious financial goals can lead to quitting. So sustain your goals by identifying what you can actually achieve each day and each month.

4. REWARD YOURSELF

Set a realistic budget and reward yourself for sticking by it. Alvin Hall, an author and a financial commentator on BBC TV, once said that a helpful way to lower your stress is to purchase something that has a long-lasting positive personal effect…for the least amount of money. Personally, visiting museums that display exceptional art uplifts my spirits while costing me S$0-20 only!

If you cannot think of any rewards right now, consider reading this guide: “36 Things You Can Do In Singapore, Aside From Spending Too Much Money”.

5. WRITE DOWN WHAT YOU ARE GRATEFUL FOR

Before you fall into a deep slumber, write down at least three things that you are thankful for. This changes your focus from your financial stressors to the beautiful things that you might have taken for granted throughout the day. It does not have to be a big thing!

This quickie activity is focused on giving you a positive strategy to cope with life’s difficulties.

Image Credits: pixabay.com (CC0 Public Domain)

If all else fails, do not hesitate to seek help from your friends, family, or financial professionals.

Sources: 1, 2, 3, & 4

Genius Ways To Hide Your Cash In Case Of Emergencies

No matter how safe Singapore can be, unforeseen events in the form of natural catastrophes, bad power outage, credit/debit card decline, or even theft can happen. Whether you call it secret stash or emergency fund, keeping a substantial amount of cash in your home is a must to handle the demands of these unforeseen events.

As people get clever in time, the old “putting it under your mattress” trick does not work anymore! Instead, consider these Genius Ways To Hide Your Cash At Home:

1. CREATING FALSE STRUCTURES

If you have a knack for the tools, consider an intensive Do-It-Yourself project of faking fixtures around your house. You can install a drain pipe or a power outlet in your room that doubles as a secret safe. Worry not if you are not too good of a craftsman as some online shops sell installation-ready disguised safes.

For example, you may purchase the Hidden Wall Safe that acts as a non-functioning outlet with a hidden compartment to keep your valuables such as cash, cards, and jewelry.

2. DISGUISING IN PLAIN SIGHT

Keeping your money scattered in the most unexpected places is a good theft-proof strategy. Contemplate on the best places to hide your money where no one else would look. If you are an avid fan of books, pick a “random” book in your cabinet and cut a space in the middle where you can store your cash. Then, put it back where it belongs.

Here are other easy tricks you may follow:

a. Push the lint brush/roller’s handle up and put your cash inside.
b. Stuff your money inside a jar of cotton balls.
c. Put your money (rolled with a rubber band around it) inside an empty medicine or vitamins bottle and seal it well.

3. SWIMMING WITH THE FISHES

If you have a relatively large aquarium at your house, consider putting rolled up cash inside a watertight solid-colored jar inside it. Keep it hidden among the seaweeds, rocks, ruins, and corals so that it is as concealed as much as possible.

Image Credits: pixabay.com (CC0 Public Domain)

Alternatively, you may put your watertight jar of money inside the toilet tank.

Sources: 1 & 2

Stay ultra productive at work with these simple and affordable tips:

1. LIGHT IT UP

A well-lit room increases concentration and effectiveness. In fact, a study by National Renewable Energy Laboratory found that employees who were exposed to natural lighting stayed focused on the task longer that their “sun-deprived” counterparts.

Replicate the effects of this study by positioning your table by the window or by placing a bright table lamp on your desk (here’s an IKEA table lamp for only S$4.90).

2. EMBRACE ERGONOMICS

Although most of our lives are spent while sitting, we are not designed to sit at desks all day. This is why people who are working a full-time job at the office may experience occasional back pains and other long-term problems. Avoid this and the costly hospitalization costs by investing on ergonomic chairs. Ergonomic chairs are designed to support your posture and boost your comfort while you work.

Purchase yours at LAZADA for as low as S$49.90!

3. STAY FOCUSED

Stay focused by eliminating all the unnecessary distractions such as noises and social media. Avoid online distractions by closing tabs that you do not need, keeping your phone on silent, and by not logging onto your social media accounts. Afterwards, drown out the background noises by wearing earplugs or headphones.

4. KEEP IT CLEAN

Excess litter and scattered rubbish can make you feel overwhelmed and distracted. Clean up your work space by organizing important documents inside drawers or labeled boxes. Also, organize your files with descriptive folders in your laptop or computer.

5. EXERCISE REGULARLY

Aiming for better time management skills and increased ability to beat the deadlines? Consider spending 30-60 minutes of your time per day to exercise. According to science, keeping your blood pumping at work may elevate your productivity for about 15%!

6. PAINT THE SPACE

The colors of your workspace automatically stimulates you and induces color-motivated behavior. Thus, you must alter your space based on your desired goals. If you want to boost your alertness and creativity – go for yellow. For improving reading and relieving stress and fatigue – go for green.

Image Credits: pixabay.com (License: CC0 Public Domain)

And if you want to reduce your feelings of aggression and irritation (with your demanding co-workers or horrible boss), decorate the space with nothing but pink!

Sources: 1, 2, 3 & 4

How To Start A Business While Keeping Your Full-Time Job And Sanity

Manage the stress of your full-time job while running a side business without going crazy with these 6 tips!

1. DETERMINE THE REAL REASONS WHY YOU ARE BUILDING A BUSINESS

Getting a clearer understanding of why you want to start a business is a crucial first step that every budding entrepreneur must take. Whether you want to accomplish a childhood dream or you are motivated to become your own boss, knowing your drives will help you focus and commit to your dreams. When you are committing to your dreams, you make sure to see it through to success.

2. READ THE FINE PRINTS

Before getting your full-time job, I am sure that you signed a contract or some paperwork for the HR department. Find those files and make sure that you did not sign any agreements that prevent you from building your own business. Get professional legal advice if necessary.

3. USE YOUR TIME WISELY

You are given the same number of hours as Bill Gates or Oprah Winfrey each day, maximize it! In a week, say you are given 40 hours of work and 56 hours of sleep, you will have about 72 hours left to spend wisely. Successful entrepreneurs strategically make the most of what they have instead of wishing for more time.

4. DEVELOP NEW SKILLS

As a start-up, you are testing every aspect of your business including the amount of labor necessary. Do really a marketing team or can you handle the marketing aspect by yourself?

Instead of hiring professionals to do the job for you, you can commit several hours in developing skills. Online educational websites such as General Assembly and Skillshare offer free and paid courses on a wide range of topics such as marketing, photography, and design.

5. SHOP FROM B2B WEBSITE

If you are planning to start your own shop or online business selling goods, you need to know where to source for your items. Sites like Taobao is the way to go, but if you want to enjoy greater discount or better price for each quantity of item, you need to purchase in bulk. That’s where VolumeBest, a B2B online trade site dedicated exclusively to wholesale and volume business buyers, can help you save money.

Volume Best carries a good range of consumer products such as mobile accessories, lighting peripherals, watches and other electronic goods at a very good price. They also offer free and secure UPS shipping to ensure that you receive your goods on time.

6. OUTSOURCE IF NEEDED

To finish the tasks faster and make money while you are at your day job, consider outsourcing.

When you decide to hire help, good sources of quality yet low-cost labor are university or polytechnic interns. If you are willing to spare some time to training, both of you can benefit from the experience. Think about it! You are giving a worthwhile experience and good recommendation for the intern while the business is receiving low-cost (and sometimes free) services.

7. ACCOMPLISH WHAT IS IMPORTANT

The Pareto Principle states that for many events, about 80% of the outcomes stem from the 20% of the causes. Simply, only a portion of your efforts lead to the effects. This is why the smartest decision is to focus your energy on the things that yield higher returns. When you are juggling two jobs, do not beat yourself up with the unnecessary investments and drama. Rather than doing everything, accomplish only what is important.

Image Credits: pixabay.com (License: CC0 Public Domain)

Sources: 1, 2, & 3

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