GUEST POST by Mr. Credit Card 

Today, Mr. Credit Card from Ask Mr. Credit Card  is going to share some thoughts about the importance of improving yourself  and learning new skills as an employee. Mr Credit Card has recently compiled a review of identity identity theft protection services, which you might want to check out.

If you hang around the blogosphere enough, you will notice a recurring theme; the desire of many to get out of their JOBS’ and work for themselves. Very often, the reasons cited include:

• Poor job fit
• Spend more time with family
• Hate answering to a boss
• Lack of job security in corporate America

Most the reasons cited above are true to a certain extent. But instead of  drooling about the prospect of starting your own business, why not use your time as a corporate employee to improve yourself and acquire new skills? You might actually find that doing so may get your a promotion or  a leg up when you strike out on your own. Check out these skills to further your career.

1. Learn to delegate – One of the things employees must learn as they progress up the organization is to delegate. We’ve all seen this again and again. The best salesperson on the team is a terrible manager or the smartest programmer stinks as the boss.  There is a transition from team member to manager. Very often, the person who is successful at a specific task fails when he or she gets promoted because they never learn to delegate.

Learning to delegate is a very important skill to learn. You frequently hear successful entrepreneurs talk about working ON their business, not IN the business. If you fail to delegate, you may find it difficult to grow your own business.

2. Learn to be productive – I guess in certain corporate jobs, it is easy to just coast along. But if you want to rise to the top, you have to be productive. That means getting your most important task done first. And not being overly distracted by things that do not really matter.

3. Polish up on presentation skills - Demonstrating good presentation skills is crucial in the corporate world. But they are also very important if you have your own business. After all, you have to pitch to venture capitalists, vendors, and other organizations if you are seeking any partnerships. If you lack presentation shills in a corporate setting,  likely you will be poor at promoting your own business too.

4. Enhance your people skills – Some folks do not succeed in the corporate world because they have poor people skills. You could make the argument that perhaps this is an impetus to strike out on one’s own. And there are many professions where you can get away with poor people skills. For example, a freelance computer programmer or writer may not need these as much as someone in other professions. Still brushing up interpersonal skills can go a long way towards advancing your career or even growing our own business. A business owner needs people skill to deal with employees or his/her business partners.

5. Build relationships – Very often, folks who are shy of promoting themselves view others who are “close” to their bosses as brown nosers. I used to think that way too. However, having become my own boss, I actually appreciate employees who update me,  ask my opinion, and  ask questions when they are unsure. I enjoy a close relationship with my employees. Here is the truth. In the real world, you will only be promoted if you have the trust of your superior and this only happens when you build a strong relationship with him or her. Furthermore, you can only get things done with peers if you’ve built sound relationships.

If you have your own business, the ability to build relationships is even more important. Business owners who lack this skill are at a disadvantage because strong business relationships relate to future success.

6. Get things done – There are many folks who simply do not get things done on time or properly when given a project to do. There are plentiful reasons and excuses. But to be truly successful in whatever you do, you must develop the habit of  getting things done by hook or by crook.

 A key attribute of successful executives and business owners is the ability to get things accomplished on time.

Summary 

 There are many folks who are unhappy with their present jobs for a variety of reasons and want to eventually “start their own business” or “earn passive income”. But I would suggest that even if you are unhappy with your present corporate job situation, there are skills to learn that could earn you a promotion, increase your  job fulfillment and even a higher salary. At the very worst, improving yourself will give you a better shot at success when you do strike out on your own.

So do not moan and groan about your present situation. Instead, make use of your time now to improve yourself (and obviously plan your next venture). You will  be much better off with an action-oriented  attitude no matter what the future holds.

“I feel like this is something I’ve been capable of doing. I felt like if I put in the hard work and committed to the journey eventually it was going to yield some fruit.” R.A. Dickey

After toiling 12 years in the minors, this 35 year old NY Mets knuckleball pitching sensation is 6-0 this season.  Called up from the minors on May 19^th, Dickey never gave up believing in himself. He is the epitome of determination, optimism, and perseverance.

MAIN TOPIC: Stress Happens

When I was growing up, one of the saddest times for my dad was when he lost his mother prematurely, to an illness which could have been prevented. He got through the pain of losing his mother by distracting himself and throwing all of his energy into his work.

And whenever I balked at some responsibility or task, saying “No, I don’t want to do this.” My mom would reply, “It does not matter, PUSH YOURSELF to do it.”

Over the years, I adopted these action oriented coping styles. Although being solution-oriented and prolific do not get rid of stress or pain, these traits yield a positive outcome.

Stress and anxiety leads to productivity and success!

PRACTICAL APPLICATION: Use Stress to your Benefit

Through investing over a long time, my husband and I have amassed a sizeable net worth. That wealth comes from regular investing and compounding of the interest and dividends, combined with modest lifestyle choices. Additionally, we are very optimistic and solution oriented.

Every setback has a way out!

This disciplined and optimistic way of living has led to financial, personal and career success. Simply, success is culled from some smart habits practiced regularly. But don’t think I don’t know what it’s like to be lazy and unproductive; growing up, I was probably the most undisciplined, complaining procrastinator around!

Read on and find out how an optimistic approach and practicing strong habits combats stress and contributes to success.

 Martin Seligman, PhD, author of Learn Optimism and founder of the Center for Positive Psychology at the University of Pennsylvania describes two traits of the optimistic; permanence and pervasiveness.  Optimists believe bad events are temporary and limited. Optimistic people tend to be more successful and productive. The optimist will find a way out of a difficult situation.

We have some additional stress in our lives right now. My instinct is to grab a box of candy, get under the covers, turn on the TV and never get out!

Instead of giving in to the pull to binge and hide, I fall back on the habits that have made me wealthy and strong.

Stress fighting success habits:

1. Recognize and acknowledge that you are in a stressful situation.
2. Give yourself a bit of time to feel the discomfort and map out an action plan.
3. Don’t avoid the stressful event-figure out what you need to do to handle the unpleasant situation(s).
4. Practice a positive determined attitude. Act as if you can handle the difficulty, even if you are depressed and scared.
5.  Persevere, towards your goals in spite of the discomfort and stress.
6. If you have discretionary time, determine the most personally productive use of your time. Is it, revising the budget to find more cash to save, doing a home repair, or following up with a responsibility you’ve been avoiding.
7. NOW, it is time to get on with your activities. Put ALL OF YOUR ATTENTION into doing the best job you can right now. If you are at work, focus, put in 100%, do not get distracted.

Does this sound simplistic? Actually, it is not complicated to develop success habits. Be optimistic, goal oriented, solution focused every day and success will follow. 

ACTION STEPS:

Get a notebook and label it: “(your name) Personal Finance” and keep it by the computer. Use it to keep all of your personal finance goals, thoughts, activities, and plans.

1. Right this minute-do one thing you have been avoiding.
2. Jot down how it worked out for you.

How do you handle stress? What are your keys to success in money and life?

Photo credit: MSNBCMEDIA.msn.com 

Categories: life, time management

”Time is money says the proverb, but turn it around and you get a precious truth. Money is time. ” George Gissing

The British novelist turns around the well known Ben Franklin quote “time is money,” and creates another truth. Believe it; if you have more money, then you can buy more time. More money also affords less stress, more freedom, and more options. A larger net worth frees one from the daily worry of having the resources to meet your expenses. And you can hire out to do the “yucky jobs,”

This article attacks ways to increase wealth, time, and overall contentment. Today, Part 1 tackles “Have More Time & Feel Amazing.” In a few days, Part 2 will reveal “How to Make More Money.”  

Ask yourself, could you do with a bit more money, time, and life satisfaction?

MAIN TOPIC: 3 Secrets to Increased Joy and More Time

Create life satisfaction, now. Take a minute to really focus on each point.

1. Be in the moment-What does this mean anyway? If you are truly paying attention to every activity in which you participate, then you are in the moment. It means while you are at work, your mind is not at home, and vice versa. This turns EVERY ACTIVITY INTO A CALMING EXPERIENCE. By focusing on the moment, you are avoiding worry, fear, and anxiety. Cleaning out the garage or paying bills can become relaxing when you are fully engaged in the task! When your mind drifts away, gently, bring it back. PRACTICE and it will get easier.

2. Is this activity giving me enough value for the time I am spending? Whatever activity you undertake is an implicit decision NOT TO DO SOMETHING ELSE. Make a conscious decision about how to spend your time. I am a morning person. I deliberately perform the activities that require the most mental and physical energy earlier in the day. That way, I use my highest energy time most efficiently.

Ask yourself this question every time you undertake any activity and you will learn to focus on your “highest value” activities.

Am I getting ENOUGH, fun, education, cash, relaxation, entertainment, or____________ (you decide) for the time I am spending on the given activity? You decide what activity is the BEST USE OF YOUR TIME AT ANY GIVEN MOMENT. Then, DIVE IN with all of your mental and physical resources.

3.  Did I incorporate lots of breaks into my work/activity? The research from one of my favorite books, Managing Your Mind; The Mental Fitness Guide by Butler and Hope informs that our effectiveness drops significantly if we work too long without a break. WOW, it’s kind of counterintuitive to think that more breaks leads to greater efficiency. In fact, work 20-40 minutes and then take a break. You will keep your mind fresh and get lots more done in less time! I practiced this tactic extensively one day with amazing results.

Practice these 3 steps, live more efficiently, and feel great.

Fine, you say, thanks for the efficiency tips: Where is the cash in this article?

 The MAKE MORE MONEY part of this series comes next. Stop back in a day or two for Part 2 and learn specific steps to increase your wealth.

ACTION STEPS:

Get a notebook and label it: “(your name) Personal Finance” and keep it by the computer. Use it to keep all of your personal finance goals, thoughts, activities, and plans.

1. Start by being in the moment right now. When your mind starts to wander, bring it back into the present.
2. Prepare for Part 2 with this Zen Habits article about finding your passion. If you do what you love, making money isn’t work, it’s fun.

RELATED ARTICLES YOU MIGHT ENJOY:

From BarbaraFriedbergPersonalFinance

Do you Need a Rolex Watch?

Are the Wealthy Really Happier?

Are you Already Rich-Part 1?

Are you Already Rich-Part 2?

Credit: Photo courtesy of Mariko

Categories: personal finance, budget, spending, time management, life, Yakezie

“A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life.” Suze Orman

Suze Orman has created an industry from personal finance tips and common sense. Not only is she a powerhouse of money information, but a tremendous communicator. As Orman suggests, manage your finances and decrease worry!

Main Topic: Learn Personal Finance Step-by-Step

In addition to writing BarbaraFriedbergPersonalFinance, I am a student of money and finance. I read empirical literature, popular finance magazines, as well as blogs by my personal finance colleagues. There is lots of information out there. Sometimes it is REALLY DIFFICULT TO SEPARATE THE JUNK FROM THE VALUABLE INFORMATION.

I am committed to making the process of becoming financially literate fun, interesting, and simple. I like to break down complex finance concepts into understandable bites. Motivating and inspiring you towards financial independence is my passion!

Periodically, I include articles from around the web written by well respected personal finance bloggers that complement this philosophy.

Fun is really important in life and these Personal Finance; Week end Round ups add to your knowledge base in an entertaining fashion.

Relax, take your time, and check out what these bloggers have to say. Embrace what works for you and discard the rest.

PRACTICAL APPLICATION: Grab Some Tips & Improve Your Life

If you’ve read BarbaraFriedbergPersonalFinance previously, then you realize that I am a huge fan of persistence and tenacity.

Sam, founder of the Yakezie Network and Financial Samurai, is an incredibly gritty blogger. This guy is so determined, he barely sleeps! Sam wrote about how to use failures as a cue to get going again.

How do others spend their money? Little House in the Valley disclosed how she categorizes her spending and then relates it to norms. Find out how you compare. Let this post motivate you to track your own spending.

 Think about how to develop multiple income streams and compound your personal and financial resources in this “tip filled” Dividend Monk article. Of course you know that holding two jobs ups your income, but there are lots of ways to increase your revenue without the added stress and time involved in working two jobs.

This is an older post by Shawn Watson which bears reviewing. At Watson Inc., he hammers in the importance of avoiding the trappings of theoverextended. Read and remember this article! You never know who has the 7 figure net worth.

Every purchase, large and small requires additional funds for upkeep. Be aware of the regular maintenance & improvement costs for your home by Single Guy Money.

 Travel is one of those luxuries that many aspire to. There are some insightful tips for working a wonderful vacation into your budget. As usual, Engineer Your Finances takes an organized approach to the travel topic.

 The Amateur Financier tackles an often overlooked key to success – time management. I don’t know about you, but I can always use more hints on time management!

In his “no nonsense approach,” Punch Debt in the Face says, “You gotta put yourself out there to realize success.”  Apply these principals to your life and prosper.

 I hope you enjoy these Personal Finance articles and they bring you closer to wealth in money and life.

 ACTION STEP:

Get a notebook and label it: “(your name) Personal Finance” and keep it by the computer. Use it to keep all of your personal finance goals, thoughts, activities, and plans.

Take one TIP from these articles and implement it TODAY.

Categories: goals, values, wealth, time management

“Time is the most precious element of human existence. The successful person knows how to put energy into time and how to draw success from time.”
Denis Waitley    

Balance and time  are  key attributes for successful living. They go hand in hand with separating the important from the unimportant and prioritizing what to do when. Always remember that time is  not renewable!

MAIN STORY: Perfectionism vs. Sloth

I was raised to:

1. Finish what you start.
2. Never quit.
3. Maintain order and tidiness.

Consequently, I had a tendency to be highly self critical and believe that doing tasks well meant working on a task until it was PERFECT. The room was clean only when there was ZERO dust, dirt, or item out of place.

If someone left a phone message, it was to be returned IMMEDIATELY.

Dishes were to be placed in the dish washer PROMPTLY.

Clothes hung up RIGHT AWAY.

There are pros and cons to this type of upbringing; it developed certain advantageous qualities.

Pros:

Good attention to detail

Excellent follow through ability

Reliable and dependable

Good manners

Like all things in life, there were disadvantages to these types of standards.

Cons:

Spend way too much time on each task.

Don’t discern the important from the unimportant (everything is important).

Waste a lot of time on less important tasks.

Actually, the positives of this style are OK. In fact, persistence may be the most important key to success. But, the negatives create an environment of less achievement and more obsession on getting every last detail correct.

Fortunately, I eradicated most of the negatives through prioritizing and balance.

PRACTICAL APPLICATION: What are your priorities?

I started investing very young, in my early 20’s and opened an IRA as soon as I had earnings. Over time, I studied investing, and grew our family resources’.

At some point, I made a decision. There are a limited number of hours in the day, and I am extremely committed to:

• Spending time with family and friends
• My job
• Contributing to society
• Building BarbaraFriedbergPersonalFinance
• Appreciating and enjoying life
• Growing wealthy

This led to the realization that there are certain activities that must go; there is not enough time for everything. A certain degree of dust and disarray is OK. I relinquished my early training and decided that an immaculate home does not define me. Good enough is OK and perfection in house upkeep is unnecessary.

And, the “not so fun tasks” can be redefined to give SOME SORT OF BENEFIT. Even vacuuming can be fun. Don at Money Reasons figured out how to get his exercise and save cash by mowing the lawn.

Nevertheless, every last detail does not merit attention.

Conscious living is making a decision on how you want to spend your time.

Put the most time into your highest value goals.

Determine what YOU value in life, and spend your precious time going after it! For me, time is prioritized according to my core goals and values. I spend a lot of time with my husband, family, job, finances, & blog. And even if I have something less desirable to do, (after all we can’t avoid all unpleasant tasks), I look for a way to make it tolerable!

And that is why, I am wealthy (in money & life) and my house is dusty!

ACTION STEPS:

Get a notebook and label it: “(your name) Personal Finance” and keep it by the computer. Use it to keep all of your personal finance goals, thoughts, activities, and plans.

1. List your 3 highest value activities; those pursuits that give you the most reward. They could be spiritual, family, work, fun, hobby etc.
2. Choose 1 day to focus most of your time and energy on your highest value activities.

Write and let me know how it works out!

Categories: time management, goal setting

“When you play, play hard; when you work, don’t play at all.”
Theodore Roosevelt

This is not a new thought… the idea of focusing on work while working and play while playing. The reason that some form of this quote is so popular is because IT IS TRUE. In spite of its veracity, how many of us really free ourselves from thoughts of work, while we are playing? Try it and see what happens to your productivity! 

Main Topic

On a recent snow day, my wonderful husband, who works in a medical setting got the day off, for the first time EVER! Now, we get along great, have lots of fun together and really have a good thing going. My husband is also very accomplished with 6 books, tons of research publications, paid consulting, and presentations. And this is all on top of his regular job. So, when he got the day off, I knew that we would both be doing some work and not slacking off all day.

But here’s the rub….I have my schedule all set up, and I am kind of rigid. In other words, I like to do what I want to do, when I want to do it. But those of you out there who are married know that if you want your relationship to endure, you have to compromise.

At the risk of making you sick, let me say something else wonderful about my husband. As incredibly prolific as he is, he NEVER works after dinner or on week-end afternoons. He loves leisure and to have fun. In order to get lots of fun and pleasure in his life, he rips through his work quicker and more efficiently than anyone I have ever seen. He is not a perfectionist at all.

So here is how the day played out. We got up early, like we do every day. After breakfast, I was ready to get down to work, because I am a bit obsessive, but I chose to have fun and hang out with my husband instead. We watched some TV; played some scrabble; played some wii tennis; looked out the window at the snow a lot; and took a rest! By about 10am, I said I was going to do some work! He joined me and we went up to the office and we worked for a couple of hours.

After lunch, he wanted to take a nap. Now, my obsessive voice was prodding me to work more and to get more accomplished. But because I love my husband, I decided to take a nap too. After the nap, we did Tae Bo for half an hour and did about an hour more work. Then had dinner and watched more television!

Practical Application

As I reviewed the day, I calculated that I put in about 40% less time at my desk working. Yet, because I knew my husband would want to relax a bit on his free snow day, while we were working, I was incredibly focused. After the nap, that hour of work I did was really productive; I was well rested, alert and got a lot done! In fact……

Yesterday I got more work done in less time &

added lots more fun and relaxation!

My husband is an expert at doing only the essential! He does not waste time on minutia! By following his lead, I had an incredibly fun and productive day.

The rejuvenating power of rest, relaxation, and fun is remarkable.

I don’t get how it works, but working less can yield greater productivity, just ask Tim Ferris  the author of the 4 hour work week.

Action Step

Get a notebook and label it: “(your name) Personal Finance” and keep it by the computer. Use it to keep all of your personal finance goals, thoughts, activities, and plans.

On your To Do List write down oneor maybe more FUN activity(ies), and do it (or them)!

Write and share whether prioritizing some fun into your day helped your productivity.

 ”Time is more value than money. You can get more money, but you cannot get more time.”
Jim Rohn

How many times have you heard some form of this quote? And, don’t forget Ben Franklin’s version: “Do not squander time for that is the stuff life is made of.” Obviously, everyone knows that time is irreplaceable. This is not a new concept. But, have you ever really thought about it? I mean, while you are doing some activity? Have you thought about whether this is how you want to spend this moment of time which you will never ever get back? And you may be thinking, “So what? So I don’t get that time back that I was watching TV or playing my 4th hour of World of Warcraft. I had fun and didn’t you mention that it’s important to have time for your true passions?”

 Main Topic

 Make a Mindful Decision about How You Spend Your Time and

Your Life Satisfaction Will Rise.

 Ask yourself this question, “At this moment, am I getting the most enjoyment for my time?” or could you be doing something that would offer more satisfaction?

With discretionary time (leisure) comes the freedom to do the activities that are most important to you. No one has an unlimited amount of time. The busy upper level executive works 60 hours per week, attends countless obligatory social functions, and does a few chores around the house. When you add up his/her discretionary time, it’s probably not more than an hour per day and maybe a few more on the week-ends. In fact, having lots of money and little time to actually enjoy it creates stress and dissatisfaction. If he/she loves their work, then their life satisfaction goes way up, if not, it goes way down. Consider how much discretionary/free time you have. And you may be richer than the executive, if you have more time to pursue your true passions in life!!!

Up in the Air, the 2010 movie with George Clooney, is the story of a guy who probably makes a ton of money and travels all over the world. Yet over time he comes to realize that there is more to life than having an “empty backpack” with no intimate relationships or cozy home. He is an example of an impoverished, yet wealthy man. 

Look at wealth and riches in another way. Money does not equal true riches, if you loose money, it is replaceable. If you lose time, you NEVER get it back.

 TIME is another measure of true wealth.

 Are you wealthy?

 ü      How much discretionary time do you have each week?

ü      How much time do you spend on activities that offer fulfillment and satisfaction?

ü      Do you appreciate your family and friends?

 If you have a satisfactory job, some friends, family, a decent place to live, and some spare time to devote to entertainment and recreation, then don’t you have a certain degree of wealth? Many of us spend so much effort trying to get ahead-we forget to fully invest in and enjoy what we already have.

 Change your outlook, change your life.

Practical Application

 This is a personal finance blog, so let’s relate these concepts back to money. The take-away here is; determine what you value most in life. Then, whatever your most treasured pursuits, inject more of them into your life! If you love nature, hike more, if you like science, buy a science magazine or watch a science show! You get the idea! If you want to be filthy rich, your life will look a bit different from the person who wants to be financially comfortable. Regardless of your priorities, learn to grow your net worth and put your finances on auto-pilot and you will have more discretionary time!

Action Step:

 Get a notebook and label it: “(your name) Personal Finance” and keep it by the computer. Use it to keep all of your personal finance goals, thoughts, activities, and plans.

 Write down a couple of paragraphs or lists about how you want your life to look. Include money goals, leisure activity goals, personal goals, and/or career goals.