It’s imperative to keep your important documents in a fire safe box that can withstand the damage.
The post What Items Should You Put in a Fire Safe Box appeared first on Apartment Living Tips – Apartment Tips from ApartmentGuide.com.
It’s imperative to keep your important documents in a fire safe box that can withstand the damage.
The post What Items Should You Put in a Fire Safe Box appeared first on Apartment Living Tips – Apartment Tips from ApartmentGuide.com.
This weekâs Mint audit helps out a couple, Pasquale, 46, and Jillian, 39, who are starting a new life together after each experiencing divorce. Both work in software sales earning roughly the same income. When combined, their earnings average $450,000…
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The post Money Audit: Should We Hold on to Our Rental Properties? appeared first on MintLife Blog.
If you have a special child in your life, you may be wondering what to put under the tree this year. One long-lasting and truly meaningful way to show the child in your life that you care is by taking…
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The post Why UGMA/UTMA Accounts Are the Perfect Holiday Gift appeared first on MintLife Blog.
Recently, I published the post How I Graduated From College In 2.5 Years With 2 Degrees and Saved $37,500. While I did graduate quickly and there are benefits related to that, there are things I missed out on by rushing my college experience. Now I wouldn’t say I had the worst college experience, but I also wouldn’t […]
The post What I Would Change About My College Experience appeared first on Making Sense Of Cents.
Preparing financially for a job loss can help keep your budget secure through any hardship.
The post A Step-by-Step Guide to Prepare Your Budget for a Layoff appeared first on Discover Bank – Banking Topics Blog.
Measurement! I just love measurement. That’s because it tells you how you’re doing and how much progress you’ve made. Progress checks can motivate you, help you catch yourself when you’re slacking, and tell you when to change course.
Without giving thought to how you define progress, however, you can measure the wrong thing, or measure the wrong way. You might end up demoralized for no reason, or falling behind unknowingly on a project, or missing opportunities. So if you’re going to measure progress, do it right! Turn off auto-pilot “gut checks” and measure progress thoughtfully.
If you’re Type A like me, you probably overwork yourself, under the assumption that more work gives more progress. But does it? Have you ever measured? Just being busy and stressed doesn’t mean we’re getting anything done. We need to track how far we are from our goal, and whether we’re closing that gap.
First determine the kind of goals you’re chasing. Episode 462, “Grow a Pair for Your Career,” outlines the difference between outcome goals and process goals. Outcome goals—like getting a promotion—are something you strive for, not something you just do. Process goals, on the other hand, are measurable actions that help you get closer to your outcome goal, like making ten more sales calls each day.
If you’re going to measure progress, do it right! Turn off auto-pilot “gut checks” and measure progress thoughtfully.
On a daily basis, measure progress through movement toward your process goals. It doesn’t matter how much you work, only whether that work takes you closer to finishing that day’s process goals. Then check that your process goals are doing what they should, by tracking overall movement toward an outcome goal.
For example, if you work in sales, your process goal might be to make fifty cold calls a day. If that’s your goal, sending two hundred emails should not count as progress. What’s more, if your outcome goal is to close sales, and you haven’t closed one in months, you may need to rethink if you have the right process goals. Maybe “number of calls” doesn’t lead to sales. Maybe you need to make progress on the quality of your calls, instead. So make your new process goal tweaking your sales pitch, and direct some work toward that.
Another way to track progress is to look at how far you are from your starting point.
Sam is a twenty-something who’s just started up a fairly successful online delivery company. The vision of being the next Amazon.com seems impossible! Or at least, light years away. And it is. But knowing that it’s not Amazon yet isn’t a useful measure for evaluating progress. Furthermore, it’s so far away that it isn’t even clear which paths lead to that result.
Sam can instead concentrate on what’s been accomplished so far. They started sitting around a dining room table. Now they have office space, customers, a business model that works, money in the bank, and profit. By measuring progress based on how far they’ve come, not on how far they have left to go, Sam can realize they’ve made tons of progress, and can make sure it continues to unfold, as more and more milestones get added to the list.
At some point your goal is within reach. Then, you can start measuring how far you are from your goal, and concentrate on closing the gap.
Don’t do this too soon! You can hurt morale. At my last Harvard Business School reunion, for example, doing an “Am I there yet?” progress check gave me a soul-crushing burst of inadequacy as I was moderating a panel of my classmates, whose combined net worth was enough to purchase a third world country and pave it over. In gold.
When you’re out on a long run, you get a surge of fresh energy when you see you’re only ten feet from the finish line, and there’s an entire 55-gallon drum of gummy bears waiting at the end. And an Oreo ice cream cake. The next thing you know, you’re barreling over the finish line.
When you’ve passed the halfway point, start measuring your progress by how quickly you’re closing on your goal. Keep that Oreo ice cream cake in mind, and set new goals to push you those last few feet.
Even if you get some steps wrong, just making the plan will energize you and be motivating.
A good way to do this is to make a checklist of things you’ll need to do to reach the end point. These can be high-level things like, “Run A/B testing with focus groups,” or low-level things like, “Write an email to call for A/B testing participants.” Once your plan is on paper, finishing your project will seem much more doable, since all the steps left to take are right there in front of you. And as I talked about in episode 466, "Make a Plan for Motivation," even if you get some steps wrong, just making the plan will energize you and be motivating.
Once you figure out the best way to track your progress, and the types of progress you need to track, choose how often you’ll track. Sometimes, tracking progress once a week is plenty. But from my experience, it’s best to track progress every two to three days.
That way, if you suddenly notice you’re not where you should be, you only have to make up two or three days’ worth of work. If you were only checking once a week, you could get an entire week behind before you’d notice it.
From my experience, it’s best to track progress every two to three days.
What gets measured gets managed. And we love to manage progress. On a daily basis, concentrate your measurements on your progress goals, rather than your outcome goals. Then choose a less-frequent measurement that is based on where you are in your project: distance to your goal, or distance from your starting point. With a little experimentation, you can find the magic balance that keeps you on top of your game.
This is Stever Robbins. I give great keynote speeches on productivity, Living an Extraordinary Life, and entrepreneurship. If you want to know more, visit http://SteverRobbins.com.
Work Less, Do More, and have a Great Life!
Does your checking account still match your lifestyle? Here’s how to find out.
The post What You Need to Know to Pick a New Checking Account appeared first on Discover Bank – Banking Topics Blog.
On Saturday evening, I had a chance to chat with my friends Wally and Jodie. You might remember them from a reader case study from last August. They’re the couple that wants to get their finances in order but they’re worried because they’re starting with less than zero.
When we chatted in August, Wally and Jodie had over $35,000 in debt. They had variable incomes, but somehow seemed to spend exactly what they earned — about $3000 per month after taxes. Worst of all, they were behind on some payments.
Now, eight months later, their situation has improved.
When most parents offer to fund their childâs tuition, itâs with the expectation that their financial circumstances will remain relatively unchanged. Even with minor dips in income or temporary periods of unemployment, a solid plan will likely see the child…
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The post My Parents Can’t Afford College Anymore – What Should I Do? appeared first on MintLife Blog.