Managing your finances can take time and is a process that needs to be carefully planned as spending habits can be hard to break. But with a simple step by step plan and small changes, you can begin to manage your money and become smart with your finances. To help you out, we have compiled a list of five tips to help you manage your finances.
Make A Savings Account
One of the easiest ways to save money is to begin by making a savings account. This is an account that is sperate from your normal account and can be added to and withdrawn from whenever you need to. Several accounts are available that offer you several benefits with your savings and can act as a tool to help you maintain health savings throughout the course of your life.
Set Yourself A Clear Budget
In addition to organising a savings account, it is important to set yourself a clear budget. This can help you to maintain health spending habits and monitor your monthly spend much more closely. By keeping your budget to a suitable amount, you can then begin to place some money into your savings account. This will aid you in becoming financially stable over time. Though this is not the case at all times, monitoring your finances can help you to begin the first steps to being financially stable. Should you still find yourself struggling with poor finances however there are quick easy loans available online to provide financial aid should you need it in a financial emergency?
Track Spending Regularly
When you have set yourself a budget, it is crucial to monitor your spending regularly. By enlisting the help of a finance app or mobile banking, you can monitor spending closely as you go. This is crucial when taking back control of your finances as it is what is needed to prevent overspending. This is updated daily and allows you to see how much you are sending daily and make changes accordingly.
Save Up For Big Spends
Another way that you can manage your finances more effectively is to save. Savings can then be spent when purchasing items such as technology or cars, this will limit the amount that you are borrowing. Though it will be taken longer for you to have these nice things, it allows you to make an informed decision as to whether it is needed or not. This is commonly known as the 30-day rule and is a simple trick that can get you into the frame of mind of saving.
Use Money When Heading Out Shopping
The final way that you can begin to take back control of your finances is to only use money when out shopping. By getting money out and leaving cards at home, you can monitor spending and ensure that you have exactly that you need to have fun without overspending. This is a simple change to your daily routine that could see you saving money in the long term.
As a result of using some of these top tips, you are likely to see your savings build up and notice that you have disposable income at the end of the month to make ends meet. Where will you start with this process?
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Time is one of the most important factors when it comes to business. Too little of it and you rush, anxiety levels increase, and you can miss vital bits of information. Too much of it and you can overwork your ideas or slip into the world of procrastination.
Managing your time will increase productivity and also help you unwind and relax, giving you a healthier work-life balance. It promotes productivity and is particularly useful for people who work remotely or are separated from their team.
One of the most effective ways of creating efficiency in your days, and reaching project deadlines, is time blocking.
The method really is as simple as it sounds. Unlike a timetable, you set your calendar and tasks into dedicated blocks. You are committing a set amount of time to each task. Colour coding will help you differentiate between projects and personal tasks.
Not only does this help you to structure your day, but it can also help your team understand how you are working and structure their time blocking around you too—giving you maximum team productivity.
Every business, small or large, should make time management the foundation of their working day, learning this simple method is the cornerstone of a more successful and productive atmosphere at work or home.
Does time blocking really work?
The simple answer is yes, even the easily distracted among us benefit from time blocking.
Making To-Do lists is a great start. However, most of us will recognize that a to-do list doesn’t always help us manage our time effectively. There are specific tasks that we know should take a couple of hours, but end up taking a full day because we are distracted or interrupted. We also tend to rush through tasks at the end of the day to ensure we complete them, or forget to reply to emails and lose potential business.
Time blocking for remote workers or sole traders is particularly useful for days you have family members around. If your family can see the blocks of time you have set to work on specific projects, they know not to disturb you, giving uninterrupted hours for you to dedicate to the task set.
If you are part of a team in a busy office, the method can be very effective. Sharing your time blocking calendar enables your colleagues to see your timeline and to avoid disrupting you. It’s like a friendly ‘do not disturb’ sign. It will make the whole project management team more dynamic and effective, giving you a positive pathway to your deadlines.
A team of individuals can be hard to manage on group projects. Every person naturally has a different time in their day when they are least, or most, productive. Establishing these times and creating a team time block will help you to get the most out of all team members, leading you to your deadline and allowing for contingencies too.
An important thing to remember is that time is fluid. You should be able to adapt your time blocking to any unexpected issues that arise in your day. The method makes this simple as you can effectively move blocks around the remaining hours of your day.
What are the main benefits?
When a team leader works out how to manage projects successfully, they often will be working on simultaneous project briefs. With time blocking, you are prioritizing the most critical tasks first.
With extended deadlines and a simple to-do list distractions slip in, and workers may be tempted to help a colleague with something or agree to a meeting with a potential new client. The process of time blocking gives accountability and a mini deadline. There is a clear directive, and everyone understands that certain hours will be dedicated just to one task.
Breaking a to-do list into daily, weekly or even monthly time blocks makes sure that those high priority tasks are completed, and everything else comes second.
When you create your team’s time blocks, always add a contingency into the timing. Tight turnarounds can increase pressure on individuals, and while some may thrive on this, others will crumble. The contingency should be a small amount of extra time in each block; up to 30 minutes is usually a good starter.
Another benefit is with fewer distractions comes efficiency. If you are self-managing a time block, then it’s worth switching off all your communications devices, such as your phone or notifications. Team leaders setting high priority tasks could add this to the time block. Suggesting that during individual blocks that all communication devices are set to ‘do not disturb’ this will give even more focus to ensure projects are completed without distraction.
Time blocking is also an excellent tool for setting realistic timelines. It can be easy to be pressured into quick turnarounds on projects. Still, it is better to underpromise and over deliver on time than it is to pressurize your team or set yourself impossible deadlines. The project manager should utilize the method as part of the pitching process, to enable them to know what is possible.
Saying ‘no’ to people isn’t always easy, mainly if it is an important client asking for a quick favour or one of your bosses calling you into a meeting. Having a dedicated time block allows you to turn down any interruptions that could cause a delay in the project while allowing you to see if you could fit it in during the rest of your day or week.
Finally, it sets our reminders on a deadline too. Many businesses are guilty of not completing a quote or a pitch for new work because live projects are getting in the way. Having an effective time blocking system will help remind you to reach out to new or past clients and ensure your after sales are on point, and you are still attracting new clients and projects.
How do I start time blocking?
It’s pretty simple to get started, especially if you are already an avid to-do lister.
The process should start with a simple list of everything you need to get done. You may find it easier to start with a day, or you might prefer to do a whole week or even a month.
Once you have your list set out, you then need to work out the order of priority, which jobs are most urgent, what order is best to do them in.
It’s then time to look at your working day. This will either be the time you are in an office, or if you work from home, you may decide to set your day up into the most productive times. This depends on your personal circumstances. Some remote workers prefer to work early in the morning or late at night.
The high priority jobs need to be allocated first and should happen when you feel you are at your most productive.
Your time blocking should also include moments in your day for rest, including mealtimes or socialization. A typical working day includes trips to the restroom, cups of tea and periods of exercise, by scheduling these into blocks, you will be more productive on your priority tasks. It can also help to leave one hour free, in case any emergencies or revisions come into your day. You can then move around your blocks. While the method does require commitment, it should also be able to move organically to fit with a realistic schedule.
Once you have set up a rough version of your time block, it’s time to move it onto a calendar. There are lots of different ways you can do this, including making your own and printing it out. Having a hard copy helps us access and stick to our tasks much easier. Setting the alarm on each time block will also help you know when its time to move on to the next project.
When you start to add your tasks to the calendar, use a colour-coded system. It helps to have a theme for personal and for work, then different colour selections for high priority and lower priority.
As you get used to working this method, you may find you complete tasks quicker than expected. If this is the case, you should move all your tasks back. You can use any time you have at the end of the day to complete lower priority tasks or to pat yourself on the back and take a well-earned rest.
The more you use time blocking, the more productive you will become. It may seem a little complicated to begin with; however, once you have formed the habit, you’ll make light work of building your projects into time blocks.
So, if you have been struggling with deadlines or managing multiple projects and people, this method is an excellent foundation for driving your business forward, building new strategies and helping guide your workforce and clients towards a healthier working day.
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More and more of us are spending most of the day in front of a computer. All this time looking at the computer can have a real impact on your health and, without the proper support, there could be long term consequences too. We’ve all seen the pictures of what we might look like by the time we retire or how humanity could evolve and it’s genuinely scary.
Now that more people are working remotely, this is a good time to examine how you work and what is best for you. For many people, the realization that their chair at home is better or that they are more comfortable in a particular light has a significant impact. This is the moment that employees and employers alike should be considering the future of work – the where and the how.
So what should you consider?
Working in Comfort
Back problems and eye strain are classic symptoms of long hours in front of a screen. Many people experience headaches and tiredness as a result but you may also have tingling sensations and a bad mood too!
Let’s deal with eye strain first. Experts have created computer glasses to help people focus on screens that also reduce exposure to harmful blue light. A bit like reading glasses, these glasses are designed to bring a computer screen, which is usually a little farther away, into focus without making you strain. You should also take a few minutes each hour to stare off into the distance to allow your eyes to relax.
Back problems often come from sitting in a poorly designed chair for far too long. The first thing to do is to make sure that your chair is suitable for you. Even ergonomic chairs can be problematic, especially if you are shorter than 5’2”! But no matter how tall you are, the best way to sit in a chair is to have your feet comfortably flat on the ground (or possibly a stool), your back straight but not tense and whatever you are looking at should be at eye level.
Taking Breaks
Even with the most comfortable setup, you should still take regular breaks. Going for a walk in your lunch hour is ideal as this will get your body moving and prevent your muscles from seizing up. Walking is exceptionally good for your back as it is low impact and you can do it anywhere.
You might also like to think about whether you really need to spend so much time at the screen. You might find that some activities can be done with a pen and paper or through other techniques. When you take a more creative approach, you might even find you have more innovative ideas.
But let’s also consider what you do at home. If you get in from work and then spend the evening in front of the TV or yet another computer, you might like to think of alternative things to do, at least a few nights a week. Mix it up!
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Life as a member of the military can be challenging, but there are many ways to make things simpler and easier. Service members often find themselves being reassigned to different bases or even forced to move from one residence to another in the same area.
When such situations arise, renting a storage unit can make it easier to complete the transition smoothly. Having access to storage often does away with issues that would otherwise complicate life as a service member.
Because members of the military have distinctive needs, it will always be best to choose a storage service that will accommodate those needs well. Keep the following five things in mind when looking for a storage unit, and your career in the military should go a little more smoothly.
1. Some Companies Offer Discounts for Service Members
Business owners often respect the service that members of the military provide, and some of them show their appreciation in concrete ways. Discounts available at StorageWest and other storage companies can cut the cost of renting a unit by quite a bit.
That can make a large difference when a unit will be rented for many months or even years. Service members who get reassigned away from home for long periods will always be able to put the savings to good use.
2. Some Storage Companies Regularly Serve Members of the Military
Millions of Americans actively serve in the United States Armed Forces at any given time, with millions more making up the reserves. Some storage companies owe a majority of their business to service members, and they tend to be the best and easiest to work with.
Storage facilities located near military bases will almost always be staffed by people who understand what it is like to serve. That can end up being invaluable, as it will mean being able to rely on the advice of someone who is well-equipped to provide it.
When a storage company regularly rents units to members of the military, its offerings will often be tailored to suit the needs of that customer base, too. That can end up enabling a better fit for the kinds of situations service members most often find themselves needing to address.
3. Size is a Good Place to Start
Storage units come in many varieties, so it can feel a bit overwhelming to choose one. The best way to get started will normally be to figure out just how much space will be required.
Fortunately, there are some relatively straightforward ways to do so. Many storage companies maintain lists that allow the size of a home, apartment, or existing storage space to be used to select an appropriate unit.
4. Other Options Can Matter, as Well
While focusing on units of an appropriate size will make for a good start, other features and extras can be worth emphasizing, too. Service members who own valuable electronics, for instance, often find that storage facilities featuring strong security suit their needs the best. There are many ways of controlling access, some of which are likely to be more effective than others.
5. Flexibility Can be Invaluable
Although most members of the military can count on serving for well-defined stints, it can be useful to be able to adjust storage unit arrangements later on. A service member who initially planned to move back to a particular town, for example, might end up with different plans and a need to give up a rented unit.
Keep the five facts above in mind when looking for a storage unit as a service member and the process should go smoothly. It is so common for members of the military to use self-storage that advice from others is normally easy to come by, too.
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I am a results-oriented leader, but I have been labeled “tactless” and “overly direct.” And I lost a job as an executive because of it.
So, believe me when I say I know how it feels to have others call you unflattering names when you believe you’re just trying to do your job or help them. (Isn’t it ironic that those who want you to be more respectful often end up calling you demeaning names?)
I also know that during this pandemic – as you’re forced to work remotely – that your “abrasive” personality may also be causing problems in your home life. Your family members may find your driven behavior less-than-endearing and it’s causing you some concern.
While you certainly don’t want to alienate those you care about and threaten important relationships, I also think you have great value in your home as a leader – as long as you’re willing to make some changes.
I know this because I’ve been in your shoes. I lost my job as a chief operations officer because, as I said earlier, I was seen as tactless and overly direct. That’s when I decided to change and became an executive coach and licensed clinical worker who helps other executives learn to drive results without damaging relationships. I’ve also become a better communicator in my own marriage.
Let me emphasize that I’m not asking you to change who you are or simply become a nicer person. In fact, your can-do attitude is just what is needed right now. You have something truly important, the ethos of the Navy SEALS: a “warrior spirit”. It’s your ability to focus on results in these volatile, uncertain, complex and ambiguous times that is so critically important right now.
What I am asking is that you become a better warrior.
In simple terms, you cannot continue to bully people, whether it’s in the workplace or at home. Your style must change. You must learn to harness your can-do spirit into something more positive.
The reason? Because people find your personality annoying, and that is damaging your important links to others and making you less effective.
A big piece of this disconnect between you and someone else is about cultural diversity. For example, I was raised in a New York City housing project that was built for World War II veterans. My family was loud, even by New York standards. Today, when I talk to people in New York, they think I’ve lost my edge. On the other hand, people in California think I’m too loud.
The point is that if you’re really annoying to some people because your personality is too loud or too direct, then they’re not going to recognize your value.
If you have a “warrior spirit,” you may also run into a disconnect with others when you don’t see them demonstrating values you find important: serving others, being the best and striving for success. When the people around you don’t perform or behave in ways that are consistent with your values, then you feel personally threatened. In other words, your abrasive behavior is actually a defensive response to feeling attacked.
Relationship rules
If we truly want to be effective leaders in the workplace or in our families, we need to understand that our job is to create connection and to help others take their performance to a higher level. There is a lot of contemporary research that says that work teams perform better when there is trust and people can be themselves. Surely this also applies to families.
With that in mind, here are some tips for managing your “warrior spirit” at home:
1. Understand that with love comes annoyance. When my wife was facing cancer surgery a couple of years ago, we found ourselves snapping at each other. That’s when we realized that we had moved out of the “denial” stage of her diagnosis and into the “anger” stage. We began talking about how we can drive each other nuts at times. We then came to the realization that when you find someone to love, you can make a choice at that time to be alone for the rest of your life – or annoyed for the rest of your life. Once my wife and I accepted that we’re going to annoy each other, our peace with one another grew. I believe this ability to accept annoyance applies to children as well.
2. Have compassion for everyone. When you have the “warrior spirit,” you must cultivate compassion for people whom your brain is telling you don’t deserve it. Compassion means recognizing that, just like you, other people are imperfect. It means recognizing that they are suffering or are in pain and want to do something to alleviate it. Still, compassion does not mean letting people escape the consequences of their behavior. Children raised in families where they were not held accountable do not become upstanding, responsible adults. Executives and managers who do not hold people accountable alienate high performers and lower team performance.
3. Negotiate a family charter.As a results-driven executive who is now working at home because of the pandemic, you are changing a number of often unspoken understandings about family roles and how the family operates. You need to recognize that you are invading the space of your spouse/partner and children. If you start giving directions, you are interfering with how they fulfill their roles and responsibilities. Perhaps more important, you are interfering with how they live their lives. Try holding a family council to define how things will be governed, just as they do in any successful family-owned business. Discuss things like purpose, vision, mission and value, as well as conflict resolution and communication. (Some family businesses require an outside facilitator to help them design and negotiate the charter. Consider you might need help if you can’t reach an agreement as a family.)
Your warrior spirit is especially valuable during these turbulent times, both in business and in your family. But it’s important you make adjustments so that you’re not running over the people you want to help instead of aiding their success and leading the way.
About the Author
Jordan Goldrich helps leaders end dysfunction so their teams can do great things. He is a speaker, Chief Operations Officer and Master Corporate Executive Coach (MCEC) who partners with senior executives to drive results while developing their organizations, teams and the next generation of leaders. He specializes in helping valuable executives who are experienced as abrasive to increase their effectiveness while changing their impact. Jordan is a partner in CUSTOMatrix as well as Senior Executive Coach with the Center for Creative Leadership. He is coauthor of the new book, Workplace Warrior: People Skills for the No BS Executive. www.jordangoldrich.com
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