We get time off for vacations, holidays, and when we're physically ill, but what about our emotional and mental well-being? Don't our brains deserve the chance to recharge and reset? More employers are joining the move towards encouraging their employees to take care of their mental health, but if yours doesn't bring up the subject, you can still request a day off every so often for the sake of your sanity.
Taking a mental health day is just as vital as staying home for a runny nose or belly bug, if not more important. As per The American Institute of Stress, "Numerous studies show that job stress is far and away the major source of stress for American adults and that it has escalated progressively over the past few decades. Increased levels of job stress as assessed by the perception of having little control but lots of demands have been demonstrated to be associated with increased rates of heart attack, hypertension and other disorders."
Before your mental health takes a dip and wreaks havoc on the rest of your life, talk to your boss and ask for time off to mend your mind, boost your spirit, and get your emotions in check. You'll fare better for it as will your job performance.
You Need to Catch Up on Sleep
The daily grind can make a good night's sleep hard to achieve. We wake up early, go to bed late, and with work on our minds 24/7, the sleep we do manage to get may not be all too restful. A mental health day can be alarm clock-free, nap-friendly, and more than just a dream if you request the time off.
As per Huffington Post, "Sleep is a performance enhancer. Experts agree that an ideal workday would start at 10 a.m. so employees can sleep and be at their most productive, but since that's likely not happening anytime soon, a mental health day can help alleviate some of the exhaustion."
Remember to rest up interruption-free, and realize the sweet dreams of a day to yourself.
You'll Return Refreshed and More Productive
If you're in a slump or lack the motivation you once had, a mental health day can give you the reboot to get back to your energetic, go-getter self. There is always room for improvement, and a day to rethink and reactivate is the perfect way to reach new potential.
According to Family Share, "Studies show taking time off makes you more productive in the long run. Motivation is much like a muscle; it gets fatigued if it doesn't have an opportunity to rest and rebuild. So, while it may seem that you don't have time to take a mental health day, the investment will actually pay off in the long run."
Bustle adds, "You'll benefit from being refreshed and others will notice you showing up brighter and happier."
You Can De-stress
No matter how much we may love our job, there is always some degree of stress. Some folks have it harder than others, but stress can wear us out and cause not only mental fatigue, but physical repercussions too.
Bustle notes, "According to the American Psychological Association, taking time to recharge will have a very positive effect on your stress. While it may not erase it entirely, it will bring it down quite a bit.
Family Share adds, "When you are overwhelmed with life, your body physically absorbs stress, causing you to feel more tired, get sick more often, etc. So, not only is a mental health day advantageous for your mental health, but it does wonders for you physically."
If you start to feel the weight of stress coming down on you, nip it in the bud by calling for a mental health day. You'll become more balanced and focused to get back to work with a clear head.
Does your company embrace the idea of mental health days off?
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When you take out a loan for a car, charge something to your credit card, or get a personal line of credit, there is going to be an interest rate that applies to your loan.
A lot of different factors go into what you will be charged, including your own personal credit score. But even those with flawless credit still see a minimum charge that they can't get around. That all goes back to the Federal Funds Rate.
One thing consumers rarely realize is that all of our banks are lending money to each other every night. Banks are legally required to maintain a certain percentage of their deposits in non-interest-bearing accounts at the Federal Reserve to ensure they have enough money to cover any withdrawals that may unexpectedly come up. However, deposits can fluctuate and it's very common for some banks to exceed the requirement on certain days while some fall short. In cases like this, banks actually lend each other money to ensure they meet the minimum balance. It's a bit hard to imagine these multibillion-dollar financial institutions needing to borrow money to tide them over for a bit, but it happens every single night at the Federal Reserve. It's also a nice deal for those with balances above the reserve balance requirement to earn a bit of money with cash that would normally just be sitting there.
The Federal Reserve
The exact interest rate the banks will charge each other is a matter of negotiation between them, but the Federal Open Market Committee (FOMC) (the arm of the Federal Reserve that sets monetary policy) meets eight times a year to set a target rate. They evaluate a multitude of economic indicators including unemployment, inflation, and consumer confidence to decide the best rate to keep the country in business. The weighted average of all interest rates across these interbank loans is the effective federal funds rate.
This rate has a huge impact on the economy overall as well as your personal finances. The federal funds rate is essentially the cheapest money available to a bank and that feeds into all of the other loans they make. Banks will add a slight upcharge to the rate set by the Fed to determine what is the lowest interest that they will announce for their most creditworthy customers, also known as the prime rate. If you have a variable interest rate loan (very common with credit cards and some student loans), it's likely that the interest rate you pay is a set percentage on top of that prime rate that your lender is paying. That's why in times of low interest rates (it was set at 0% during the Great Recession), a lot of borrowers should go for fixed interest rate loans that won't increase. However, if the federal funds rate was relatively high (it went up to 20% in the early 1980's), a variable interest rate loan may be a better decision as you would be charged less interest should the rate drop without the need to refinance.
The federal funds rate also has a major impact on your investment portfolio. The stock market reacts very strongly to any changes in interest rates from the Federal Reserve, as a lower rate makes it cheaper for companies to borrow and reinvest while a higher rate may restrict capital and slow short-term growth. If you have a significant portion of your investments in equities, a small change in the federal funds rate can have a large impact on your net worth.
Whether you're leaving a job involuntarily, departing for something new, or just want to prepare for the unknown, it is smart to understand all your options regarding your 401k.
Frugal gifting often gets a bad reputation. However, this shopping method does not make you cheap — it makes you practical. Frugal gifts often avoid waste and overspending and can be just as meaningful (if not more so) as any other present.
With the National Retail Federation predicting each consumer this holiday season to spend upwards of $1,000 on holiday gifts amidst an economic recession —this year might be the perfect time to reconsider your spending budget. We've formulated the ultimate list of frugal gift-giving ideas to get you started.