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Resolve to improve your financial life

Reduce money stress and take control of your finances with these tips for financial success.

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Photo by Joshua Hoehne from Unsplash.com

Counting calories isn’t the only way you can resolve to bring about positive change in your life. If you’re like many people, it may be a good time to start counting your way toward better financial health.

The past year brought financial setbacks to nearly all. In fact, many say the current quality of their financial lives are worse than they hoped. In 2017, topping the list of setbacks were transportation issues (23%), housing repairs or maintenance (20%), and the inability to keep up with debt and falling behind on bill payments (16%). Arguably, COVID-19 worsened everything.

“We continue to see a lot of anxiety about money,” said Ted Beck, president and CEO of NEFE. “Three-quarters of (people) said something causes them financial stress, and it’s most often not saving enough and debt that are to blame.”

Reduce money stress and take control of your finances with these tips for financial success from the experts at NEFE:

1. Get debt under control.

Take a hard look at what you owe. If there’s a clear warning sign of too much debt, take action. Set a goal to reduce your debt load next year by 5-10%. That might mean reducing impulse shopping. When you face temptation, delay the purchase and give yourself time to consider whether it’s a wise move that fits within your budget.

2. Save now and do so often.

Preparing for unexpected events like medical emergencies can help reduce the financial impact of a life-changing event. Emergency savings can offset unexpected costs and help you get back on solid footing. A good rule of thumb is to have 6-9 months of income set aside. If that feels out of reach, start with a smaller goal, even as little as $500. When it comes to saving, it’s also a smart idea to think long term. Review your long-term savings and ensure they are on target for your retirement plans.

3. Shop for better services.

You may be surprised by how much you can save when you periodically shop for the most competitive rates on your recurring bills. Make a game out of shopping providers to find the best value on your insurance policies, cell phone plan, internet and utilities. Ask your providers about current rates and any promotions available to long-time, loyal customers. Then look at alternative providers to determine where you can trim some spending. Be sure to understand your current offering thoroughly so that you are comparing apples to apples.

4. Understand what’s behind your financial decisions.

If you ever wonder why you feel good about spending money on vacations but avoid saving for retirement, the answer may lie in your unique values and how they influence your financial decision-making.

Consider taking the LifeValues Quiz at smartaboutmoney.org, where you can also find help with setting goals and getting your finances in order.

Budget Better

To take control of your money and your financial life, it’s important to get organized. The most effective tool is a budget. Creating a budget can help you meet personal goals such as buying a house or car, or taking a vacation. It also can help you prepare for emergencies and manage debt.

Income: Start by listing all income sources, including wages, bonuses and tips, as well as non-employer income such as child support, alimony or Social Security. Generally, you’ll want to look at your recurring income, but also include long-range, infrequent income that you anticipate, such as tax refunds.

Expenses: Next, take into account all of your recurring monthly bills. If you have major periodic expenses, such as a six-month auto insurance premium, account for it in monthly increments so you can save up and have the money ready when the payment comes due. Remember to account for the bills you pay (mortgage or rent, utilities, etc.), as well as unspecified items like lawn maintenance and personal hygiene purchases.

Categorize Spending: Some people find it helpful to break expenses into categories, such as housing, transportation, health, personal, entertainment and so on. The key is to capture every point where money is going out so you can get a thorough picture of your ongoing expenditures. It can take a couple months to get a true understanding of what your typical spending looks like.

Savings: An effective budget doesn’t just capture what’s going out; it also reflects what you’re able to keep. If you haven’t already, outline a savings plan that allows for an emergency fund, regular savings, retirement and investments.

Debt: Consistently paying down the accounts you owe with the maximum amount you can afford is the surest way to reduce your debt load. Account for each debt you owe in your budget, and establish a payment plan that shows how much you can allocate to each account each month.

Strategies

Renting out your place? Human connection key to a successful holiday rental

Warmth, friendliness and a sense of belonging, or the “homely” side of the experience, strengthen guest loyalty, making them more likely to return to the same host. However, these feelings alone didn’t necessarily make guests more likely to recommend the property to others.

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Striking up a connection with the property host is the factor that drives repeat bookings on holiday accommodation platforms such as Airbnb.

This is according to a new study, carried out by universities in the UK and Iran and published in the February 2026 edition of International Journal of Hospitality Management, that suggested that quality and value of accommodation also play a part in guest satisfaction, but personal connection is key to people deciding to stay again.

The research analyzed hundreds of online guest reviews and conducted in-depth interviews to understand what shapes guests’ evaluations of their stays in what is known as “peer-to-peer accommodation”.

Conducted over six years, the study shows that guests assess their stays using emotional cues such as warmth, atmosphere, and aesthetics; and cognitive cues such as cleanliness, safety, and convenience.

The study found that warmth, friendliness and a sense of belonging, or the “homely” side of the experience, strengthen guest loyalty, making them more likely to return to the same host. However, these feelings alone didn’t necessarily make guests more likely to recommend the property to others.

In contrast, affective and intellectual experiences – the enjoyment and perceived value of the stay – were stronger predictors of recommendations and positive reviews.

The research also examined how the quality of booking websites, such as Airbnb’s platform, influences guest behaviour. Although the website didn’t change how guests felt about the property itself, a well-designed and trustworthy site directly boosted guest loyalty and word-of-mouth.

Co-author Nektarios Tzempelikos, Professor of Marketing at Anglia Ruskin University (ARU), said: “Guests think carefully about both emotional and practical aspects before booking. Hosts who focus only on one side – either charm or functionality – may be missing the bigger picture.

“Platforms like Airbnb thrive when they’re designed for trust. Guests return to sites that are clear, reliable and easy to use. But it’s not just about tech, it’s about people. The most memorable stays come from warmth, authenticity and genuine local connection.

“By encouraging friendly, personal communication between hosts and guests, and balancing smart technology with a human touch, platforms can create experiences that feel less transactional and more meaningful.”

The study was carried out by researchers from Brunel University, University of Bradford, Newcastle University, Anglia Ruskin University and the University of Tehran.

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BizNews

In-aisle store displays might crowd shoppers and reduce overall sales

Retailers might seek strategies to boost product exposure without also increasing crowding – especially for cart shoppers who may experience greater crowding effects – and that excessive use of in-aisle fixtures will likely dampen sales at the aggregate level rather than increasing it. 

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In a study involving a real-world grocery store, in-aisle displays meant to boost product visibility were in fact associated with reduced sales and purchase-related behaviors, with results amplified for shopping cart users.

Mathias Streicher of Austria’s Department of Management and Marketing presents these findings in the open-access journal PLOS One.

Retailers often place extra product displays directly in aisles in an effort to boost visibility and enhance sales. However, in-aisle displays could increase spatial crowding, which occurs when people feel restricted in their freedom of movement and has been linked with purchase-avoidance tendencies. To help clarify if in-aisle displays result in more purchases, Streicher conducted several experiments with a partnering grocery store.

First, they tracked weekly sales for an aisle containing household, baby and pet staples over a six-week period during which five product-display stands were placed mid-aisle. The stands were then removed for six weeks. Comparison of sales data showed that in fact, sales increased after removal of the in-aisle displays, with the average weekly percentage of total store revenue from that aisle rising from 4.33 to 4.83 percent.

A second in-store experiment in the same aisle showed that people using shopping carts also stopped and physically handled products—behavior previously linked with sales—about 7.05 times more often when in-aisle displays were absent than when they were present. Non-cart shoppers also touched products more often when displays were removed, but the effect was smaller (3.81 times).

Finally, in an online experiment, 200 participants imagined using a shopping cart or basket while viewing photographs of the same aisle from the in-store experiments, with or without in-aisle displays. They tended to rate the aisle with displays as more crowded and reported lower levels of perceived control for aisles with displays than those without, with effects amplified for imagined cart versus basket use.

Together, these findings suggest retailers might seek strategies to boost product exposure without also increasing crowding – especially for cart shoppers who may experience greater crowding effects – and that excessive use of in-aisle fixtures will likely dampen sales at the aggregate level rather than increasing it. 

Further research could address some of this study’s limitations, such as by considering the effects of human crowding, promotional offers on products, and seasonal influences on shopping behaviors.

Streicher adds: “The research shows that adding merchandise into store aisles can actually reduce overall sales by making the environment feel crowded and harder to navigate. Importantly, this negative effect is even stronger for shoppers using carts, as they experience greater spatial constraints and reduced control while shopping.”

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BizNews

Structure of online reviews shapes their helpfulness

Reviews that grow increasingly positive are most helpful to readers, while those that turn negative are least helpful. For average-rated products, progressively negative trajectories enhance helpfulness, whereas reviews that start negative and grow positive are least effective.

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A study of nearly 200,000 Amazon reviews shows that the usefulness of online product reviews depends not only on what is said, but on how the information is structured.

The researchers, from the Universities of Cambridge and Queensland, studied Amazon reviews for products ranging from clothing to food to electronics. They found that how the information is organised matters as much as what is said, and that different review structures are more or less helpful, depending on how highly the reviewer has rated the product.

Their results, published in the journal Scientific Reports, could help companies and third-party review platforms design their review pages to prompt the sort of reviews that will be most helpful to potential customers.

For example, a reviewer assessing a laptop might praise its performance and design while criticising its battery life, so how should such information be structured to be most useful to the reader? Should the review begin with criticism and end on a positive note, or start positively before turning to drawbacks?

“Any target of evaluation typically has both positive and negative aspects, which makes crafting evaluative messages challenging,” said co-author Dr Yeun Joon Kim from Cambridge Judge Business School. “The key question is how to structure these elements within a single message. For example, one might present criticism upfront and then move to praise, or instead integrate negative points within an otherwise positive evaluation. Yet research has paid little attention to this structural dimension.

“We wanted to understand whether certain structures are consistently more effective, or whether their effectiveness depends on the performance of the target being evaluated.”

The study was based on 195,675 reviews of 5,487 distinct products, and assessed performance and related factors, and a helpfulness score as measured by reader votes.

The researchers identified nine possible structures of online reviews ranging from Type A reviews that start positive and become more positive as they go along, to Type I reviews that start negatively and become even more negative – with lots of variance in between.

For highly-rated products, reviews that grow increasingly positive are most helpful to readers, while those that turn negative are least helpful. For average-rated products, progressively negative trajectories enhance helpfulness, whereas reviews that start negative and grow positive are least effective. For low-rated products, reviews are judged most helpful when they open constructively before introducing criticism.

“The results are nuanced but very clear,” said co-author Dr Luna Luan from the University of Queensland, who carried out the research while earning her PhD at Cambridge Judge Business School. “Looking at the overall sentiment of reviews does not fully translate into message effectiveness. It is the broader structure of sentiment – how positivity and negativity evolve throughout the review – that shapes how readers interpret online reviews.”

“Our findings have practical implications for how platforms and companies can design review pages in order to elicit the sort of reviews that will be most helpful to readers based on how highly products are rated,” said Kim. “For example, instead of simply asking ‘Write your review here’, the online review form could instead include micro-prompts that guide how reviewers structure feedback in a way recipients find most helpful.”

The researchers found the most commonly used review styles are not necessarily the most helpful to readers. In particular, for average- and low-rated products, the structures that reviewers tend to adopt often differ from those that readers find most useful.

This mismatch likely reflects different underlying motivations. Reviewers are not always writing to maximise usefulness for others, but may instead be expressing their own experiences, frustrations or emotions – especially when evaluating products of moderate or poor quality. As a result, review writing often serves both as information sharing and as a form of self-expression. This helps explain why widely used review styles do not always align with what readers perceive as most informative or helpful.

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