What To Do When Unexpectedly Coming Into Money

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StrategyDriven Practices for Professionals Article |Coming into money|What To Do When Unexpectedly Coming Into MoneyA scenario many of us dream of, or try to form into reality, is that of receiving a large cash injection or coming across a major, unexpected payday. Of course, when this is truly unpredictable, it may knock us for six. The death of a loved one, for instance, may give us access to a large inheritance, but this is hardly something worth celebrating due to the emotional context of the whole affair. Not only that, but this money will have emotional weight added to its use.

This is just one example, but perhaps the most common one, and it’s also a scenario that emphasizes the need to use your money wisely, without frivolity, helping you build towards a better future. Coming into money of this sort, provided it is properly taxed and all above board, can also seem confusing. It can be hard to know what to do with such a boon even if you had prior plans, because the idea of spending money and actually spending it are two different experiences entirely.

As far as this is concerned, we believe that some of the following advice could help you to no end in this circumstance:

Consider Investments

Consider how you may invest this money for the long haul, or even how you may divide and then invest part of it to grow your potential savings. For some, this can mean taking the time to learn options trading through carefully curated platforms, yet for most it will mean figuring out which broker to choose to help you apply with confidence and manage your money in the most reliable sense. When you have a broker selected you can jump on well-researched opportunities and pay attention to market trends.

This will help you put your money in potentially lucrative fields, and provided you have divided enough to spare on these platforms, you can follow this up without the need to worry about managing risk or having an encyclopedic knowledge of said industry in the first place. Many find that responsible use of an even more responsible broker can grant them a solid return on their investment, and so this can’t be a bad idea when you finally have the money to play that game.

Sustainable Life Goals

In some cases the money may be given to you for a particular purpose, such as helping you get through college. However, in order to honor the memory of the person who may have given you money, or in order to celebrate the unlikely circumstances in which you came across it, applying yourself to sustainable life goals may be the worthwhile answer here.

For some, this may mean gaining extra qualifications to become more of a shu-in for a particular career path, acing the interview process. For others, it may contribute towards the physical costs of interviewing in the city, taking commutes, or even interviewing for positions abroad. Sustainable life goals are usually defined as investrments that will help you financially going forward, but that being said, experiences can also be tremendously valuable. For some, taking this money to experience the world and open your mind through travel can be a phenomenal target to reach.

Your Own Operation

It may be that you’ve had your own operation planned for some time, but you’ve never had the funding to get things starting. Opening an online store, a freelancing business, starting to equip yourself as a self-employed contractor, or even putting this nest egg towards opening your own business can all be reliable and quite worthwhile approaches for the self-starter to make. This extra money is now giving you the shot at running your own operation, and you may even take it as a sign that now is the best time to launch.

Provided you have all calculations carefully taken note of, and you’re aware of all the hidden costs of providing an entrepreneurial effort like this, the more you can move forward to the best and most promising result. Remember to use this money on sustainable factors that will structure the bounds of your operation, such as on branding you may not have otherwise been able to afford or to use the services of an expert accountant worth his or her weight in gold. To this end, you can be sure that the money was used wisely even if you struggle to launch as smoothly as you would have liked.

With this advice, we hope you can position yourself carefully when unexpectedly coming into money.

6 Ways Entry-Level Engineers Can Get an Employer’s Attention

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StrategyDriven Practices for Professionals Article | 6 Ways Entry-Level Engineers Can Get an Employer's Attention | Talent Management | Resume | Cover LetterYou are about to graduate with that coveted engineering degree. It’s the ticket you were told would land you a high-paying position in that big (or rising) tech firm you’ve had your eye on. Yes, the economy appears to be humming along with many companies eager to hire. But before you prepare your resume and cover letter, there are several things you need to do to make yourself more attractive to today’s CEOs and the people that they trust to make the best hires for them.

Here are six helpful tips that will be a sure way to catch that employer’s attention:

Clean Up and Polish Your Social Media

A recent Harvard Business Review article noted that many recruitment subcontractors scour LinkedIn and other social media to find potential candidates. They’ll trace your “digital exhaust” from cookies and other user-tracking programs to learn who you are. So, ditch those college party photos you have on Instagram, Facebook, etc. Replace them with photos or videos of you working hard at that tech firm you interned with during the summer. Don’t have any intern photos? Plug in some pics of tech projects you worked on in your garage or senior lab. Use photos of you attending tech seminars and symposiums – preferably those attended by that tech firm you want to join.

It also doesn’t hurt to add a professional bio to your social media account(s). And replace college handles and URLs with those that make you look more professional. Create a brand that sets you apart – post, share, or re-tweet anything related to the industry you’re eager to enter. Follow blogs, news sources, and any other websites that represent thought leaders in the tech field you want to work in.

Network like Mad

Referrals and professional networks are 1st and 3rd in order of what CEOs consider sources of quality. People in the tech industry know that you’re young, hungry and need advice. And many are all too willing to share what they know. They remember what it was like when they tried to break in. So go to every trade show, conference seminar, and networking event you can get into. Talk to people in booths and after seminars. Ask what you can do to get into their apprenticeship, internship or mentor program.

Print out 500 “job seeker” business cards with your name, major and the job you’re looking for. Include your contact info and website if you have one. Hand these out to people you meet at trade shows, tech conferences, and seminars. They may not have an opening, but word gets around about your unique approach. And someone may just call you.

Another tactic is to attend any social/community outreach programs which the firm you’re interested in may be sponsoring. Talk to the people there and ask if you can help. People are more open at these events and the conversation tends to be more relaxed. It also builds your reputation as a caring individual; the kind that other employees like to be around. Who knows, you may end up serving food to the homeless next to the firm’s CEO. (if that happens, ditch the hard sell, but answer any questions—just make sure they remember your name. Write your last name out clearly on your “Hello, my name is” tag.)

Sell Yourself in the Cover Letter

The letter is a key element in any job search. It paints a picture that CEOs, recruiters, and hiring managers will create in their minds about the kind of person you are. Like your resume, your letter should dovetail with the firm’s needs and requirements. If you met an engineer or other tech staff member from that company at a seminar, conference or other event, namedrop that in your letter. ‘Beta test’ your letter with a career counselor or someone you know in the industry. And keep it short, no more than a page – single-spaced.

Fine Tune Your Resume

If you’re an astute tech grad, you should know how to write a resume. There are all sorts of resume writing tips and templates online. The important thing to remember is to fine-tune your resume to the needs of the tech company you’re eager to join. That means including any internships and mentor programs you’ve completed. Don’t forget to stress any senior-level projects that align with the company’s product or service.

And don’t ‘fudge’ your background—many university career counselors advise students not to be as forthcoming with their qualifications or remove entire degrees if the job posting doesn’t call for it. While this may get you the interview, it will bring up more questions that will put off hiring managers when they ask you for details during the interview.

As with your cover letter, beta test it with guidance counselors and any pros you know in the industry. You can also get a free resume evaluation at Monster’s Resume Writing Service. You’ll get detailed feedback, including a review of your resume’s appearance and content, as well as a prediction of a recruiter’s first impression.

Make Your Resume Bot Friendly

It’s a regrettable fact that many recruiters, HR managers, and other gatekeepers use applicant-tracking systems (ATS) to pre-filter resumes. These bots look for keywords and key phrases. So include verb phrases and skills written in the firm’s job description. Use both the acronym and the spelled-out form of any given title, certification, or organization. And dump the ‘career objective’ section. Bots ignore this and so do most gatekeepers. Replace it with a qualifications summary – a bullet-pointed section packed with ATS-friendly keywords that highlight your achievements, applicable skills, and internships. Use spell check and grammar-check programs to wipe your resume (and cover letter) of any mistakes.

Ace the Interview

You made the shortlist and got a face-to-face interview. At this point, the job is yours to lose. So learn all you can about the company. Scour the firm’s website. Commit to memory the company’s key current events found in the ‘news’ section. If you met any company employees at a seminar, trade show or other function, be prepared to talk about your conversation(s) you had with them.

If you don’t know the answer to a tough technical question, own up sooner rather than later. It’s much better to admit temporary ignorance than fake your way in front of a potential expert. And do ask questions. If you don’t ask anything at the end of an interview, it shows a lack of interest in the company and what your typical workday might be like.

Know your resume like the back of your hand. Be prepared to discuss how your skills and talents align with the needs of the company. By the way, you should already be familiar with the basics of interviewing – firm handshake, smile, good eye contact, and dressing a step up from the person you meet. Check out a few videos on body language as well. And do follow up promptly after the interview with a thank you email – that’s one more chance to stand out among the other in-person interviewees.

You will want to start working on these steps well before you graduate so that when that graduation ceremony comes up and you get your cap and gown, you are well on your way to landing your first dream job.

About the Author

Dr. Radu Reit is the Vice-Chair of the Marketing Committee at the Society for Information Display (SID). Display Week 2020 will be held June 7-12, 2020, in San Francisco. For more information, visit www.displayweek.org.

Air Safety Tips to Adhere to While Taking a Flight

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StrategyDriven Practices for Professionals Article |Air Safety Tips|Air Safety Tips to Adhere to While Taking a FlightRemember the times when you took a flight to your hometown or to Thailand for a long vacation? And remember all the air safety instructions that you were given on board or at the airport, the ones that you never thought of paying much attention to? They are quite important to pay heed to. It might not occur to you, but if you happen to find yourself in a situation where you are in immediate danger while flying or while you are within the confines of the airport, you shall understand the importance of these instructions. But it might have been too late by then.

Therefore, make sure that you are aware of what is happening around you so that in times of imminent danger, you do not lose your cool or act in a way that would only aggravate the situation. We have discussed a few points that you must keep playing at the back of your mind while you are on your way to catch that flight, so that you can be safe and sound. Awareness is the key to getting out of any tricky situation. Therefore, do not throw caution to the air (no puns intended); instead, pay attention to every detail around you and the instructions given to you.

The 3-1-1 Liquid Rule:

Not many of us know what the 3-1-1 Liquid protocol is. But it would be great if you did. You could save yourself from the hassles of packing unnecessary liquid items in your on board baggage. Because, according to the rule, you are only allowed a certain amount of liquid that you can carry on board. Anything that falls beyond the limit of the rule shall have to be discarded before you take the flight. Thus, there is no point in increasing your baggage when you cannot even take them through.

According to the 3-1-1 rule, you can only carry any liquid up to the measurement of 3.4 ounces in 1 plastic container, and each passenger is allowed only 1 plastic bag. This rule was made so that there is no spillage of fluids in the fluid while the plane is in air. Violating the rule can not only prevent you from taking the flight but could also put the lives of your co-passengers at risk.

The Briefing of Instructions by Flight Attendants:

Most of us would tend to put in earplugs or not pay attention to the instructions given by the flight attendants by chattering away with our co-passengers. We feel like we know everything already, and a feeling of invincibility takes over us. But you could not have been more wrong. Human brains are amazing but not all-encompassing. You might forget the details, and therefore, it is always advisable to listen to instructions each time you take a flight.

Thus, the next time you search or book flights with Jettly.com, acknowledge that you have a greater in-flight responsibility waiting for you, and that is of being aware.

Be Aware of Your Location:

You cannot just sit quietly with your seatbelts on (always have your seatbelts on) and think about landing. Of course, you will land where you are supposed to. But this should not make way for ignorance. You must always keep your ears open to the announcements being made by the pilot and understand your exact location. This will only enhance your knowledge and contribute to your safety.

Conclusion:

Being unaware of what you are signing-up for can lead to disasters and traumas of a lifetime. Therefore, it is essential to have holistic information about whatever it is that you are taking up, even if it is something as simple as taking a flight. This is for you own safety; do not roll a dice over it!

Getting Insurance or Opening a Bank Account: Which Is a Wiser Choice?

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StrategyDriven Practices for Professionals Article | Getting Insurance or Opening a Bank Account: Which Is a Wiser Choice?Life can be unpredictable. One day we are healthy, then we’re in a hospital bed the next day. Getting sick, losing your job, or coping with the death of a loved one can be some of the most stressful moments of a person’s life. These situations not only take a toll on your physical and emotional health but also your finances.

That is why we need to prepare for anything that can happen in a snap of a finger. To become secured financially, especially for dire emergencies, you can avail yourself of life insurance with investment in the Philippines. It can mean an additional expense, but it won’t be in the long run. It can be one of the best investments you can ever make for yourself or a loved one.

Saving vs. investing money

A lot of people do not realize the difference between saving and investing. On the one hand, both put your money into good use. The former means you are keeping your wealth for future emergencies. Meanwhile, the latter means you are placing your money in a safe place where it is supposed to grow.

From here, we can already see the difference between the two. You can open a bank account and put your money there as part of your savings. It is easy to access in case of financial emergencies. You can save and save and make it grow over the years.

On the other hand, investing means using your cash into something that has excellent return rates. It can be a risk but can also be worth it, especially if its value doubles or triples over the years and have no money problems in the future. Investing means a lot of things: it can be a real estate property, bonds, stocks, or insurance policies.

Is getting insurance worth it?

You might have encountered an insurance agent encouraging you to get a policy. You might want to hear them out and consider the possible benefits it can give you.

Getting insurance means you pay only the premiums without tax. In other words, there is no tax involved when you pay for your insurance premiums. You have to pay it diligently on the specific periods. It’s like savings accounts, only that most insurance policies offer other benefits, especially in emergencies.

As long as you don’t lay your hands on your insurance payments, then you are good to go. You can choose to withdraw your insurance amount after the premium payment periods are already done. On the other hand, you can let it sit until it becomes mature. Your loved ones will also be secured in case something happens to you (such as an accident or a terminal illness).

When you do decide to get insurance, make sure to check whether you can pay for it religiously. Also, you check the other benefits you can get when availing of a particular insurance policy. It can be an additional expense at first, but you will realize its real value as long as you complete the premium payments in a given period.

6 Tips for Setting up Conference Call Using Video

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StrategyDriven Practices For Professionals Article | 6 Tips for Setting up Conference Call Using VideoIn today’s global business environment one skill you must have is the expertise of setting up a conference call using video. This is usually to have a meeting with colleagues, clients or business partners that are in a different state or country. Video conferencing gives you an affordable way to do so, which saves your company a lot of time and money.

Unfortunately, many conference call meetings end up being a waste of time for all participants due to poor planning, inadequate technology or user error when setting up the call. Some people have come to hate conference calls because of poor meeting coordination, technical glitches and lack of participation from colleagues. It is a common occurrence for example that participants get distracted from the meeting and nothing gets accomplished.

Successful video conferencing meetings are very possible if you take the time to prepare for the meeting. Keep reading for six important tips that will make you an expert at setting up conference call using video.

1. Always Test Your Equipment and Connections

At least a day before the meeting you should test your equipment and network connections to ensure that they are in proper working order. Testing a day in advance will give you enough time to replace any faulty equipment and get failed connections fixed. Testing out your equipment also gives you the confidence to operate the technology during the actual conference meeting.

Some of the things to look out for while testing includes making sure lighting in the conference room is adequate. Also, be sure that everyone sitting in the meeting room will be visible on the conference screens. Cameras and microphones should be well placed around the room such that all participants can be seen and heard.

Also, ensure that you set up your conference equipment and connections around half an hour before the meeting. If the meeting starts at 9 am that is not the time to start connecting the call and switching on your speakers. Doing this beforehand will help the meeting start on time.

2. Have a Meeting Facilitator to Guide the Meeting

The facilitator is usually the organizer of the meeting. Send out an agenda and any documentation prior to the meeting to allow participants to prepare adequately for the meeting.

During the meeting, the facilitator should limit side discussions amongst participants and should check that everyone is fully engaged and contributing to the discussions. Any irrelevant debates should be quickly cut off to ensure that the meeting is concise and ends on time with all items on the agenda covered.

When sending out the meeting invitations provide backup connection options if the main conference line goes down. Alternative connection options for the meeting include phone dial-in codes and conference calling on apps such as Skype, WhatsApp, and Zoom.

3. Make Use Of Visual Presentation Aids Through Screen Sharing

Visual presentation aids used during the conference call will prevent the participants from getting bored by the discussions. The meeting facilitator can share their laptop screen with those in the meeting. This means that the document or presentation on the facilitator’s screen will be seen on the conference room’s screen as well as the laptops of remote participants.

The facilitator can also make changes to any documents as discussions take place. When screen sharing remember to disable any notifications from email or chat applications. Use the best screen sharing software to make the meeting go smoothly.

4. Have Protocol for All Participants

At the beginning of your meeting go over meeting protocol so that the conference call runs smoothly. For example, you may request remote speakers to turn off their microphones except while speaking. This reduces disruptions from background noise.

Additionally, all participants should turn on their cameras and ensure they are visible by everyone else in the conference. To prevent people from speaking over each other, the facilitator should ask participants to give visual cues before speaking and he or she may select the people allowed to speak.

5. Record the Call

It is important to record the call for record-keeping purposes. Recorded calls will be useful for participants that were absent from the meeting but need to know what was discussed.

If participants know the call is being recorded it allows them to be fully engaged in the meeting without having to worry about taking proper notes or minutes.

6. Be Aware Of Yourself and Your Surroundings If Calling in From a Remote Location

Participants dialing into a video conference meeting from remote locations have their own set of tips to follow. First of all, you should confirm that your video conferencing equipment works properly and test it before the conference call.

If you have a modern laptop it should come with a camera and inbuilt speakers and microphones. In this case, all you will need for the conference call is your laptop and perhaps a pair of earphones for better sound quality.

When taking part in a conference call from a remote location ensure you choose a place with little background noise. Be aware of your environment and what other people at the conference will see. For example, taking part in a call from a disorganized office will reflect badly on you.

Keep in mind that all your actions can be seen by other participants so behave appropriately and dress appropriately. Avoid having bright lights behind you as these will make it hard to see you.

Have Successful Results When Setting Up Conference Call Using Video

In order to have a productive conference call, it is necessary for you to prepare for the meeting. Send out the agenda well in advance when setting up conference call.

Allow participants to get ready for the meeting and be sure to test out your conference call technology before the meeting. Remember that you should always be professional and practice good communication skills.

For more tips and advice, check out more articles right here on our blog.