Why Do People Think That You’re Poor?

Whether it is the way you dress up or the way you carry yourself, people are usually quick to judge whether you are wealthy or not.

I vividly recall the time when my university friend asked me hangout. In our tight group, she announced that I should be given the opportunity to choose the restaurant that night. I was flattered at first until she stressed that I was the “poorest” one. I soon realized that the girl was not a genuine friend. True friends support each other no matter what.

Her perception was influenced by the fact that I did not have a job at that time and was only relying on my parents’ allowance. Knowing how much money an individual makes can completely change your perception of them. As much as you want to deny that money makes no difference in your perceptions, it definitely does!

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People can judge your worth in a variety of ways including these:

#1: WHAT YOU WEAR

It goes without saying that your clothing leaves a lasting impression. In a snap of a finger, a person can determine whether you are a successful businessman or an unemployed student. Flashing your designer bags and watches can give you a heads up!

#2: HOW YOU TRAVEL

In some cases, your form of transportation can send a message about how much you make. People who travel via car are seen as more successful than those people who take public transportation. The same goes for people who travel via business class as supposed to travelling via economy class.

#3: WHERE YOU LIVE

Singapore’s land scarcity has led to living situations such as government housing, landed estates, and condominiums. The last two options are perceived as more lavish than living in HDB flats. Size and location matters!

#4: HOW YOU SPEND

Being frugal may be seen as a poor man’s strategy to survive. Some people feel the need to fly under the radar when couponing. While, others are ready to open their coupon binder and shop. A stranger may perceive your fondness for coupons as a desperate move.

#5: WHAT YOUR FACIAL CUES ARE

A study once compared the faces of different groups that vary per gender and race. As it turns out, the other factors mattered less. People carried a “wealthy appearance” due to their facial cues. Some faces seem to be more experienced and are deemed to belong to the poorer group.

According to Psychologist Thora Bjornsdottir, a PhD candidate at the University of Toronto, “the signals in your face about your social class can actually then perpetuate it”. People with a wealthy apperance are more likely to be hired for the job as it creates a self-fulling prophecy, which influences your interactions and opportunities.

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Whether someone seems poor or not, it is important to know that our feelings should be tied up with how people act with their money. Are they greedy or generous? Are they willing to loan to a relative or not?

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How To Be A Positive Influence In The Workplace

There is a considerable amount of weight in Newton’s third Law of Motion. According to him: “every action has an equal and opposite reaction”. Simply put, forces always come in pairs! No matter how small your action may be, it can either cause a positive or negative influence in the workplace.

Aim to radiate a pleasant effect in the workplace by considering the following ideals:

A Two-Way Street

Let us start with the basics. Without a shadow of doubt, influence is a two-way street. The more that you let others to incorporate their ideas to your vision, the more that they will be open to incorporate your ideas to their work. Take time to listen to your co-workers’ opinions and acknowledge their worth. You may also encourage other people to speak up.

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Being Polite Goes A Long Way

During a child’s crucial years, etiquette is one of the first things that you are expected to instill. You need to highlight the importance of treating others in a way that you want to be treated. Being able to say “please and thank you” in suitable situations can cultivate mutual respect. Whenever you are delegating a task to your subordinate or asking a favor to your boss, it is better to display good manners. People will go above and beyond to assist you when they are treated with courtesy and admiration.

Having good manners shows that you care about your co-workers the people around you. Furthermore, it can open doors to building lasting friendships.

The Familiarity Principle

I am going to introduce you to an interesting concept in Social Psychology – the Familiarity Principle. According to this principle, we are attracted to the people who are familiar to us. Repeated exposure to “familiar people” will increase our attraction toward them. We are magnetized by the people who share the same interests, attitudes, behaviors, or beliefs. Apply the Familiarity Principle to your workplace by finding a common ground between you and your co-workers.

Start by making time for casual conversations. Ask them about their weekend or rejoice over the upcoming holiday. Small talks can uncover parts of their personalities (e.g., food preferences) and can lead to meaningful conversations. Remain professional without prying or over-sharing. Building positive interactions with the people you work with will make challenging situations less stressful.

Bond with your co-workers outside of the workplace by taking the initiative to plan events or to dine outside. Having a good relationship with the team makes any workday fun!

Show Your Flexibility

There are two types of people in the workplace. The people who are receptive of change and the people who are resistant of it. Assertiveness is a truly positive trait. However, pushing your own beliefs to others can work against you in the long run. Showing your flexibility in every situation and accepting better opinions can increase the respect that people have for you. This does not mean that you have to let go of your beliefs entirely!

Firmly hold on to your beliefs when someone contradicts you. Then, arrive at a mutually acceptable solution. No matter how stubborn a person may seem, they are more likely to approach you when you show your flexibility.

Let Them Help You

Do you believe you know everything? Well, think again! You are not an omniscient being, nor is your boss. Every day gives us an opportunity to learn new things. Broaden your knowledge by learning something new from your peers and supervisor. Intellectual curiosity proves your humility and maturity. After all, you must let others to influence you in a positive manner before being able to influence them in the same light.

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Never be afraid to ask questions or to request help. If you are stuck with a certain project or assignment, ask for help! Accept support instead of settling for a mediocre result.

Sources:  1, 2, & 3

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4 Steps To Overcome Family-Related Money Problems

The extent of your economic slowdown may vary from eating out less to changing your living conditions. Parents may not have enough money to put toward rent or school fees. These financial problems can take a toll on one’s mental and physical health. Thus, overcoming said hurdles is important.

To tackle these family-centered issues head-on, you must start with these four steps:

#1: DETERMINE THE ISSUE/S

It goes without saying that it is difficult to defeat the enemies that you cannot see. Try asking the ninjas! Similarly, how can you find solutions to a problem that you are not aware of?

Thus, the first step to overcoming family-related money problems is to identify the underlying issues. Financial problems are usually parts of a larger issue. Here are some common issues that you may think about:

a. Newborn (of first-time parents)
b. Unemployment
c. Addiction / Substance Abuse
d. Divorce

#2: OPEN THE COMMUNICATION STREAMS

As a child who sees his or her parents fighting constantly about money, talking about your worries can help. Find an appropriate time to discuss about the financial matters with your parents. If you cannot approach them right now, you may lean on a trusted friend or a credible counselor.

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Do not hesitate to seek for professional help if the need arises.

#3: RANK YOUR FINANCIAL PRIORITIES

After addressing your triggers, it is best to create a path towards active resolution. Begin by writing down and ranking your financial priorities. Some may be as direct as paying off your credit card bills. While, others may focus on your lifestyle goals such as repairing your aesthetically pleasing home.

Nevertheless, it is important to create a realistic budget suited to controlling your financial problems.

#4: CREATE A SAFETY NET

The future of your wealth is up to you! As the above steps have illustrated, you must review your current financial circumstance and create a straightforward path. To prevent further damage or cushion unforeseen events, consider cultivating an emergency fund.

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Families are recommended to have a sufficient amount worth at least 6 months of your income. Do not rely solely on credit cards for emergencies!

Sources: 1 &  2

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5 Mind Tricks That Restaurants Employ To Make You Spend

There are important things to consider while designing a new restaurant’s interior and its minor details such as the menu. One thing is for sure – you are building a business to boost your income. You may consider employing these Psychological tricks to help your sales.

#1: DROP THE DOLLAR SIGN

What I told you that you can entice your customers to spend more with minor alterations? Yes, it is possible! Simply drop the dollar signs found on your menu. Customers become more aware of their spending when they are bombarded with currency indicators (i.e., $ or S$).

Research suggests that customers who were given a menu without “$” significantly spent more than those who received a menu with currency indicators in them. You may write out the price in words too (e.g., ten dollars). These techniques reduce the negative feelings associated with paying.

#2: TRIGGER THE FAMILY TIES

The Asian culture puts a great value on the closeness of family. Most of us work to aid our family members’ expenses. Restaurant owners and managers can use this unified value to their advantage by tailoring their brand.

You may either put the “names” of the relatives on the menu or on the establishment. Having “grandma’s soup” or “uncle’s supreme burger” on the menu can add a hint of nostalgia. While, you can name your establishment something similar to Papa John’s Pizza or Auntie Anne’s.

#3: PUT THE APPETIZING COLORS

Whenever you are out to eat, you see wonderful colors that vary from the lightest to the darkest shades. It is no secret that colors can impact one’s spending. The sight of it automatically stimulates you and increases your memories, color-motivated behaviors, and social influences. For instance, green is associated with nature and other elicit relaxing feelings. It is used by cafes that want people to sit down for a long time. Just take a cue from Starbucks!

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From the logos to the interior, two colors seem to stay at almost every fast food chains. These two colors are red and yellow. Red and yellow stimulate appetite, which probably explains why your stomach starts to make noises as soon as you see the yellow arches or the red logo. You cannot resist spending more inside!

#4: PLACE EXPENSIVE DISHES FIRST

Previous research showed that customers scan through a menu and focus their attentions on the main course. With this in mind, you may influence the fixation of their eyes. Put the expensive dishes on the first page. People are likely to order the first few items that they are drawn to. You may add colorful pictures to tempt your customers with the dishes’ delectable flavors.

This technique works because of the Primacy Effect. Primacy Effect, in Psychology, is the tendency for the first items (presented in a series) to be remembered better than the rest. Another reason why this is effective is the utter comparison between the expensive dishes and the rest of the menu. The succeeding dishes seem to be reasonably priced compared to the aforementioned. People will pay more for good deals!

#5: MAKE YOUR FONTS FANCY

The beauty premium is the idea that attractive individuals receive higher salaries compared to the other side of the spectrum deemed as the “ugliness penalty”. Physical appearance is crucial to boosting a restaurant’s sales too. Having attractive fonts can add an irresistible tone to your menu and branding.

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You can highlight dishes using different colors or fancier fonts. The addition of pizzazz to the visual presentation increases its perceived specialty. However, high-end restaurants tend to avoid this technique. They tend to stick to minimalism as they do not want to appear “tasteless”.

Sources:  1,2 &3

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7 Efficient Ways To Cope With Money Stress

1. Whether it is dealing with your horrific credit card balance or realizing that you are barely crossing retirement, it is important to recognize what causes your anxiety. Spare at least 10 minutes of your time to write down your greatest financial problems at the moment.

2. Avoid making matters worse! Rather than being consumed by your negativity, keep a positive mindset. Your “stress umbrella” decreases as you take necessary actions. Believe that you can do it!

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3. If your financial woes come from the anticipation of unfortunate events, you are not alone! Many people exaggerate this act of anticipation. This is why you need to be involved with the present. Mindfulness in your current financial circumstance is the key.

4. Who says change is always easy? I recommend that you start with small changes to ease the transition. Employ seemingly small steps to restructure your finances. Move on to bigger changes, once you are completely settled. It is alright to experiences some bumps along the way. You may commit mistakes for a week but, remember to stick to your realistic plan.

5. A realistic plan includes a working budget. Figure out what you actually spend per day by writing your expenses down or by tracking them with the help of an app. Use these information to cut unnecessary expenses.

6. Saying that you do not make enough money is an excuse! Boost your wealth by making the most of the income you have. Spend your income wisely.

7. After everything has been said and done, your last resort is seeking professional help. A number of experts offer free consultations or reduced rates for their services. For instance, you may type “debt services Singapore” in a search engine and browse what comes up. Choose a company that seems reputable through online reviews and peer opinions.

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Sources: 1 &2

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