Financial Wellbeing

Budgeting and managing ZNMD Lifestyle with Lagaan Taxes

December 12, 2022
The Wellness Tribe Team
Budgeting and managing ZNMD Lifestyle and Lagaan Taxes

Striking a balance between lifestyle expenses and taxes can be difficult, but it is essential. On the one hand, you want to enjoy a comfortable lifestyle and have the financial resources to pay for the things you need and want. But, on the other hand, you also want to minimise your tax burden and keep as much of your hard-earned money as possible. 

This often requires spending money on things like travel, hobbies, and other leisure activities. However, paying our fair share of taxes is also important, as they help fund essential services and infrastructure that benefit society. So is there a way to achieve a perfect balance between these two? Let's explore how you can strike this perfect balance in this article. 

Stick To Your Budget

‍Stick To Your Budget - Balancing the Finances Managing ZNMD Lifestyle and Lagaan Taxes
Photo by Austin Distel on Unsplash

One way to strike a balance between these two competing priorities is to create a budget and stick to it. This can help us to keep track of our spending and ensure that we are not overspending on lifestyle expenses at the expense of our tax obligations. It can also help us prioritise our spending and make sure we spend money on the things most important to us.

By setting priorities and being mindful of your spending, you can simultaneously avoid overspending on unnecessary expenses and reduce your tax burden.

For example, consider contributing to a retirement account if you are trying to save money on your taxes. These contributions can be deducted from your taxable income, which can help reduce your tax bill. Additionally, you can take advantage of other tax breaks and deductions, such as the earned income tax credit or the child tax credit, to further reduce your tax burden.

Be Mindful of the Tax Implications

Another way to strike a balance is to be mindful of the tax implications of our spending decisions. For example, certain types of expenses, such as charitable donations or education expenses, may be tax deductible, which can offset some of the tax burdens. As a further benefit, tax-advantaged savings and investment accounts can help you save for the future and reduce your tax liability at the same time.

Cut Back Where You Can

‍Cut Back Where You Can - Balancing the Finances Managing ZNMD Lifestyle and Lagaan Taxes
Photo by GoodNotes on Unsplash

Another way to balance lifestyle expenses and taxes is to carefully review your spending and identify areas where you can cut back. For example, evaluate your monthly payments and look for ways to reduce your spending on things like groceries, entertainment, and transportation. By cutting back on these expenses, you can free up more money to put towards your savings or investments, which can help reduce your tax burden.

"Financial well-being is not just about having a lot of money; it's about having a healthy relationship with money and feeling financially secure." - The Financial Diet.

Identify Ways to Increase Income

You may also want to consider ways to increase your income. For example, you could take on a part-time job or start a side hustle to earn extra money. This additional income can be used to pay off debt, build up your savings, or make investments that can help reduce your tax burden.

This can be challenging if you have multiple sources of income and a complex financial situation. However, by using tools like budgeting software or apps, you can track your spending and income and see where your money is going. This can help you identify areas where you can cut back on your expenses. 

You can learn all these things in a financial wellbeing program if you struggle to keep track of your expenses. 

Closing Thoughts

Overall, striking a balance between lifestyle expenses and taxes requires careful planning and a willingness to make trade-offs. Our WellnessTribe Expert, Usha Mallya, a financial planner and advisor with KPMG, gives us some helpful tips above to start our new year.

Corporate Wellness

Desk Duty: Why Sitting Can be as Deadly as Smoking

October 28, 2022
Dr. Nikhil Latey
Desk Duty: Why Sitting Can be as Deadly as Smoking

Motion is lotion, isn’t it? Sitting isn't part of our design. You may not think of your office chair or the couch you enjoy binge-watching on when you think of something that might pose a health risk. When you sit for long periods of time, the body deteriorates, according to Dr Joan Vernikos, author of Sitting Kills, Moving Heals.

How Sedentary Are We?

Around three million avoidable deaths are caused by physical inactivity each year (6% of all fatalities). Among noncommunicable illnesses, it is the fourth leading cause of death.

The following studies demonstrate how sedentary we are:

  • According to PubMed Central, 52.1% of participants in the study were not physically active. Studies conducted in India and abroad have reported similar findings. 
  • It was reported that 56.8% of participants in a study conducted in Punjab, India, were not sufficiently active as recommended by the WHO. 
  • According to data from the Indian Council of Medical Research study, Chandigarh has a 66.8% prevalence of physical inactivity.
  • According to a study, 49.7% of adults in southern India were physically inactive.

Sitting and Exercising

Sitting Is the New Smoking
Photo by Gabin Vallet on Unsplash

Marathon sitting sessions cannot be negated by exercise. Lifestyle fitness, whether it is exercise in the gym, running, yoga, pilates, or another form of exercise, will not make you healthier if you sit for long periods of time. Instead, you are more likely to live a happy healthy life if you sit less during the day.

Sitting for Long Periods of Time.

Sitting for long periods of time can actually alter your metabolism. Sitting for just 30 minutes slows down metabolism by 90%. The large leg and gluteal muscles can weaken and waste when sat for long periods of time. 

With weak glutes, the legs are less stable and have less power. If you sit consistently with poor posture, it can also result in back problems. Even your sciatic nerve, which runs from your lower back to your toes, may be irritated by the back, hip, and buttock muscles together.

When you spend a lot of time hunched over a keyboard, your neck and shoulders can become stiff and painful. As you do this for hours and hours, you reduce your flexibility and movement, straining your neck and upper back muscles.

While scrolling through social media on their phones, people sit in compromised postures that can be detrimental to their rotator cuffs, wrists, and forearms.

Heart Health and Sitting

Sitting Is the New Smoking
Photo by Jon Flobrant on Unsplash

Heart disease is more likely to develop if you sit for a long time each day. Diabetes type 2 and obesity, two major risk factors for heart disease, can be caused by sitting, which can lead to insulin resistance. In addition, during a heart attack, the blood flow slows down, which causes the blood vessels to accumulate fatty acids.

Heart disease results from disruption of vascular function. According to a study published in the Annals of Internal Medicine, there is an independent relationship between prolonged sitting time and deleterious health outcomes, regardless of physical activity. 

You still have a risk of heart disease and death even if you clock in an hour of intense physical activity a day. This is especially true for those who work continuously without taking a break; therefore, companies are focusing more on employee wellness programs to assist them to build healthy working habits. 

"Sitting is the thief of health." - Steve Jobs

Depression and Anxiety

We don't understand the relationships between sitting and mental health as well as we do the ties between sitting and physical health, but we do know that those who sit more are more likely to suffer from anxiety and depression.

This might be due to the fact that those who spend a lot of time sitting lose out on the benefits of workout and fitness. If this is the case, getting up and moving may be beneficial.

Living a Movement-Based Lifestyle

Here are a few ways you can incorporate physical activity into your daily routine:

Make sure you take frequent breaks. After 30 minutes of continuous sitting, get up and move around

  • When possible, take the stairs instead of the elevator
  • Stop texting your colleagues and walk over to them instead
  • If you can, enjoy a short walk during your lunch break
  • Consider switching to standing and sitting-friendly height-adjustable desks. 

 You will have increased energy levels and endurance once you become physically active, and your muscles and bones will remain strong when you are physically active.

Final Words

It appears that stretching your muscles breaks up long periods of sitting, so strive to incorporate more exercise into your day. Every once in a while set a timer to remind yourself to get up and walk. Stand up while you're taking a call. You may want to consider an adjustable standing desk if you have a PC. Sit on a stability ball rather than an armchair while watching TV to keep yourself upright. Exercises to relieve joint pain are also recommended.

Corporate Wellbeing

The Silent Treatment: The Job Search Spiral of Ghosting

February 19, 2023
The Wellness Tribe Team
The Silent Treatment: The Job Search Spiral of Ghosting

Picture this: You’ve been searching for your dream job for months and finally found the perfect opportunity. You send in your application and wait anxiously for a response. Days turn into weeks, and your inbox remains eerily quiet. 

You start to wonder if your application was even received. You check the job posting, and it's still up, giving you hope. But as the days turn into weeks and you hear nothing back, your hope turns into frustration, anxiety, and uncertainty. You've been ghosted. Once reserved for bad dating etiquette, ghosting has infiltrated the job search process, leaving job seekers and employers trapped in a spiral of silence. 

In this article, we'll explore the negative impact of ghosting in the job search process and the reasons why it's happening. We'll also provide tips for improving communication during the hiring process and how technology can play a role in ending this frustrating trend. 

Left in Limbo

The Silent Treatment: The Job Search Spiral of Ghosting
Photo by Vlada Karpovich

The silent treatment of ghosting in the job search process is not just discourteous, but it can also have significant negative impacts. Firstly, when job seekers receive no response from potential employers, they are left feeling abandoned in the dark, wondering what they did wrong or if they are still being considered. In addition, the lack of communication can lead to frustration, anxiety, and uncertainty, making the job search process even more daunting.

Secondly, ghosting can damage an employer's reputation as potential candidates share their negative experiences with others, leading to missed opportunities for finding the right candidates. 

Lastly, the long-term impacts of ghosting can be significant for both job seekers and employers, as it can create a lack of trust and transparency in the hiring process. Therefore, it's time to acknowledge the negative impacts of ghosting and take steps to improve communication during the hiring process.

"When you ghost a candidate, you're not just losing them for this job, you're losing them for any future opportunities as well." - Jessica Merrell, Founder of Workology

Wandering Eyes

The rise of ghosting in the job search process begs the question: why is it happening? There are several potential reasons why job seekers and employers alike may be guilty of going radio silent.

Firstly, some job seekers may not be fully committed to the hiring process and may be exploring multiple opportunities at once. This can lead to disinterest in a particular role or company and a lack of motivation to follow up on the application.

On the other hand, employers may not prioritise communication with candidates or may be juggling multiple tasks and responsibilities. The result can be a lack of communication, leaving job seekers in the dark about their application status.

Another potential factor is the role of technology. With the rise of automated job search platforms and social media, communication during the job search process has become increasingly depersonalised. This can make it easier for job seekers and employers to avoid direct communication, leading to a higher likelihood of ghosting.

Regardless of the reasons behind it, the negative impact of ghosting in the job search process cannot be ignored. It's time to explore solutions for improving communication and preventing ghosting altogether.

Communication is Key

The Silent Treatment: The Job Search Spiral of Ghosting
Photo by Tima Miroshnichenko

It's clear that ghosting during the job search process is a frustrating and damaging trend for both job seekers and employers. Fortunately, there are steps that both parties can take to improve communication and prevent ghosting.

For job seekers:

  • Follow up after submitting an application to ensure it was received and express continued interest in the role.
  • Be patient and understanding but also assertive in following up on the status of the application.
  • Keep track of all applications and responses to stay organised and avoid confusion.

For employers:

  • Create a clear communication plan and stick to it, providing updates to candidates at every step of the hiring process.
  • Set realistic expectations for response time and follow through on commitments.
  • Utilise technology, such as automated responses and candidate tracking tools, to streamline communication and reduce the likelihood of ghosting.

By taking these steps, both job seekers and employers can work together to create a more positive and productive job search experience.

A Call to Action

In today's job market, ghosting has become an all-too-common occurrence. However, it doesn't have to be this way. By understanding the negative impact of ghosting and taking proactive steps to improve communication, job seekers and employers can work together to create a more positive and productive hiring process.

At the end of the day, clear communication and mutual respect are key to preventing ghosting and building strong relationships between job seekers and employers. So let's prioritise these values and put an end to the ghosting spiral once and for all.

As a corporate wellness company, we at The Wellness Tribe understand the importance of clear and respectful communication in all aspects of our lives, including the workplace. We believe that a positive and productive work environment starts with healthy communication, and we encourage employers to take the lead in preventing ghosting and creating a more positive hiring process for all.

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This month we are focusing on food and how it affects your mental health. Join us as we bring in the most relevant interesting content from across the wellness segment.

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