life hacks Archives | Page 9 of 28

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

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

Search the site