advice http://www.wisebread.com/taxonomy/term/277/all en-US 10 New Podcasts That'll Improve Your Money Mindset http://www.wisebread.com/10-new-podcasts-thatll-improve-your-money-mindset <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/10-new-podcasts-thatll-improve-your-money-mindset" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/enjoying_great_music.jpg" alt="Enjoying great music" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Podcasts are all the rage right now. We even have podcasts that review and recommend other podcasts! I'm proud to say that I'm a podcast junkie, as is most everyone I know. But did you know that your podcast addiction could actually help you manage your personal finances? Here are 10 that will improve your money mindset.</p> <h2>1. Listen, Money Matters</h2> <p><a href="https://www.listenmoneymatters.com/show/" target="_blank">Listen, Money Matters</a> lives up to the promise of its tagline, &quot;Manage your money like a badass.&quot; If you think personal finance is dull, Andrew Fiebert (a self-professed personal finance nerd) and Thomas Frank (a productivity expert) are here to dispel that myth. They'll help you work smarter so that your money works harder for you. They break down complex terms and host some of the smartest minds in the personal finance field. Topics range from investing to debt reduction, and everything in between.</p> <h2>2. Planet Money</h2> <p>This superb NPR podcast is the gold standard when it comes to personal finance programs. Think breaking financial news meets the nuts and bolts of how our economy actually works told to you by your best friend. At almost 800 episodes, <a href="http://www.npr.org/sections/money/" target="_blank">Planet Money</a> has clearly found the secret recipe to making personal finance fascinating.</p> <h2>3. Stacking Benjamins</h2> <p>Endlessly action-oriented and infinitely original, <a href="https://www.stackingbenjamins.com/listen/" target="_blank">Stacking Benjamins</a> is all about taking personal finance advice and putting it to work for you immediately. With episode titles such as &quot;Where Financial Planning Goes Wrong&quot; and &quot;69 Things That GO BUMP in Your Portfolio,&quot; this podcast is so much more than tips on how to save money. It's actually changing your mind about how you view money and its place in your life.</p> <h2>4. The Money Tree</h2> <p>If investing is an area of personal finance you haven't delved into until now, <a href="http://moneytreepodcast.com/" target="_blank">The Money Tree</a> is the place to grow your knowledge and personal wealth. From choosing the right investments, to making career choices, to answering your questions about pensions and Social Security, the hosts and their guest panelists for each episode will help you invest like the best.</p> <h2>5. Money Box</h2> <p>This gem from the BBC combines the latest personal finance news with brief guides on topics such as compound interest. It also offers societal commentary on topics like the future of retirement. What I like best about <a href="http://www.bbc.co.uk/programmes/b006qjnv" target="_blank">Money Box</a> is that it serves up full episodes plus very short clips that tightly focus on one concept, such as energy savings and the return of the 100 percent mortgage.</p> <h2>6. HerMoney with Jean Chatzky</h2> <p>A personal finance expert, award-winning journalist, and best-selling author, <a href="https://www.jeanchatzky.com/podcast/" target="_blank">Jean Chatzky</a> is masterful at breaking down personal finance advice and combining that advice with what's happening in the lives of women. This mindfulness includes acknowledging finance challenges women face, such as saving for our own retirement while caring for our older loved ones, and providing timely advice based on big calendar events like back-to-school and tax prep time. Though it's geared toward women, this podcast is a winner for male listeners, too.</p> <h2>7. Freakonomics Radio</h2> <p>If you're looking to expand your mind and your thinking around money, <a href="http://freakonomics.com/" target="_blank">Freakonomics Radio</a> is for you. In the tradition of their wildly successful books <em>Freakonomics</em>, <em>SuperFreakonomics</em>, and <em>Think Like a Freak</em>, Steven D. Levitt and Stephen J. Dubner bring together masterful storytelling with human psychology. From supply and demand through the lens of line standing, to explaining the stupidest thing you can do with your money, this highly-provocative, well-researched gem is perfect for intellectually curious listeners.</p> <h2>8. The Dave Ramsey Show</h2> <p><a href="https://www.daveramsey.com/show" target="_blank">Dave Ramsey</a> approaches the management of money from a Zen place &mdash; he wants you to make peace with it so you can focus on doing what you love and spending time with people who matter to you. He recognizes the stress that money can place on your relationships and happiness, and his goal is to help you mitigate that stress with knowledge and a game plan. That perspective and motivation make the content about wealth building, reducing debt, and budgeting easy to digest. His message resonates with a wide listener base &mdash; this year he's celebrating his 25th anniversary on the air.</p> <h2>9. The Dough Roller Money Podcast</h2> <p>Interviews, Q&amp;As, deep dives into individual money topics, and career advice from a financial perspective make <a href="http://www.doughroller.net/thepodcast/" target="_blank">The Dough Roller Money Podcast</a> one of the most well-rounded personal finance podcasts. The variety of content and format has helped Rob Berger and his 14-member team become one of the highest rated personal finance podcasts with 75,000 downloads per month.</p> <h2>10. Money for the Rest of Us</h2> <p>For everyone who needs their personal finance advice beautifully wrapped in a compelling story that has nothing to do with personal finance, <a href="https://moneyfortherestofus.com/episodes/" target="_blank">Money for the Rest of Us</a> is tailor-made for you. You're going to get the knowledge and lessons you need to create a money mindset, but they'll be delivered with such an immersive and entertaining narrative that you won't even realize you're learning. Some of my recent favorite episodes are &quot;Do Homeowner Tax Breaks Cause Homelessness?&quot; and &quot;Is Infrastructure a Good Investment?&quot; Combining personal finance education with social justice and impact gets people to pay attention and take action.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/christa-avampato">Christa Avampato</a> of <a href="http://www.wisebread.com/10-new-podcasts-thatll-improve-your-money-mindset">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/these-10-money-podcasts-will-help-you-save-tons">These 10 Money Podcasts Will Help You Save Tons</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-money-lessons-we-can-learn-from-jk-rowling">4 Money Lessons We Can Learn From J.K. Rowling</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-money-podcasts">The 5 Best Money Podcasts</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-financial-basics-every-new-grad-should-know">The Financial Basics Every New Grad Should Know</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/ow-do-you-deal-with-family-members-who-are-bad-at-managing-money">How Do You Deal With Family Members Who Are Bad At Managing Money?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Entertainment advice Help insight listening money management money mindset podcasts radio Wed, 20 Sep 2017 08:00:06 +0000 Christa Avampato 2020342 at http://www.wisebread.com How to Ask for Your Old Job Back After Leaving http://www.wisebread.com/how-to-ask-for-your-old-job-back-after-leaving <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-ask-for-your-old-job-back-after-leaving" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/anxious_woman_during_business_interview.jpg" alt="Anxious woman during business interview" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Every day, people dream of quitting their jobs to move on to greener pastures. And then, that glorious day happens: You get a new job offer and start planning your &quot;I quit&quot; speech. But for some reason, things don't work out with the new gig. The company folded soon after you started, or maybe the new job just wasn't a good fit. Suddenly, you need to go back to your old job. What do you do now?</p> <h2>First, assess the damage</h2> <p>How did you quit? Was it a polite and respectful resignation letter, with a send-off party and tearful goodbyes? Well, no worries &mdash; in this case you probably won't have much trouble getting your foot back in the door. If you were a great employee, you are a known quantity and need less time to get up to speed; in fact, you're actually a superb candidate.</p> <p>However, not everyone leaves on such good terms. If you quit in spectacular, dramatic fashion, you've got a problem. Still, even burned bridges can be repaired. Take stock of how you left, what you did, and what impression your former employer has of you. Then you can figure out the steps you need to take to get back in their good graces.</p> <h2>Contact current employees that you know</h2> <p>You will know at least a handful of people who still work at the company you quit. Hopefully, you have a great relationship with them. Now is the time to reach out and see exactly what kind of ground you stand on.</p> <p>First and foremost, find out if your old job is even available anymore. It's highly likely the position was filled, but maybe your former colleagues can let you know if there are other suitable positions open.</p> <p>Probe them to also see how management, and the hiring manager in particular, feels about you. Has your name come up a lot in conversation, in a positive or negative way? Are you missed? Would they secretly kill to have you back, or were they glad to see the back of you? The answers to these questions will help you in your approach to your old boss. You don't want to be tone deaf when first approaching him or her about a job.</p> <h2>Lay the groundwork &mdash; carefully</h2> <p>It takes baby steps to get back in the door. You cannot assume that you will be welcomed back with open arms to a ticker-tape parade. Even if you left on the very best terms, you still have to be humble about your approach. And if you parted ways on bad terms, even more so.</p> <p>Start by making a call (not sending an email) to the person responsible for the position you're interested in. Do not go to the human resources department: If you attempt to get the job through the usual channels, you will be doing yourself a disservice. Remember, you have history with this company, and you know people. Human resources is primarily there to protect the company, and they will not be looking to rehire someone who quit. They can get involved once you have gained momentum, and have senior people in the company ready to go to bat for you.</p> <h2>Get ready to eat a whole lot of crow</h2> <p>It's time to kiss your pride goodbye and approach this as you would a partner with whom you've had a falling out &mdash; even if you left on good terms. If you are looking to get your exact same position back, tell the hiring manager that you made a mistake in leaving. You loved your job and you will do whatever it takes to get back in the door. You miss your work colleagues. You miss the food in the cafeteria. You miss Hawaiian shirt Fridays. And be genuine: If you fake this, it will be glaringly obvious.</p> <h2>Make sure you can explain why you left</h2> <p>You still may be asked &quot;If the job was so great, why did you leave in the first place?&quot; That can really stump you if you're not prepared. Here, you will have to be a little economical with the truth, or downplay some of the reasons.</p> <p>For instance, many people leave because of a bad relationship between a boss or coworker. If that boss or coworker is still around, how does that play out? You can explain there were some misunderstandings that got out of hand, or that you had differences that you have worked through and resolved. You can be completely honest if it was something out of your control that didn't work out, like moving to a different state. Just make sure you can allay any fears the hiring manager may have about your return. If they suspect that you could up and leave again, or that you'll cause trouble, you won't get back in.</p> <h2>Be open to getting less for the same role</h2> <p>If you're looking to get your exact same job back, you're in no position to make any kind of demands, and the employer knows this. It's possible that your old company will take you back with the same benefits and salary that you had before, but there's absolutely no guarantee. They know you need this job, and they can play that to their advantage.</p> <p>Now, some companies will have a benefits policy that they have to stick to. For example, if you return within 12 calendar months of leaving, all of your former benefits, including vacation days, sick days, personal days, 401(k) match, and employee discounts will be reinstated. So, if you left the company after 10 years of service, and come back within the year, it could just be a continuation of those 10 years. But not all companies do this.</p> <p>Chances are, if you left with four weeks of vacation per year, you'll be coming back with the standard two weeks. And your salary could be cut to whatever the going market rate is for that position. After years at the company with raises and promotions, you may have left earning more than most people in your position earned. Expect that to be ironed out in your return.</p> <p>Overall, making a return to an old job is very doable. Just be prepared to turn up the charm, make a whole lot of apologies, and start on a lower rung of the ladder than the one on which you left. Good luck.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fhow-to-ask-for-your-old-job-back-after-leaving&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FHow%2520to%2520Ask%2520for%2520Your%2520Old%2520Job%2520Back%2520After%2520Leaving.jpg&amp;description=How%20to%20Ask%20for%20Your%20Old%20Job%20Back%20After%20Leaving"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/How%20to%20Ask%20for%20Your%20Old%20Job%20Back%20After%20Leaving.jpg" alt="How to Ask for Your Old Job Back After Leaving" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/how-to-ask-for-your-old-job-back-after-leaving">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/11-ways-college-grads-can-get-ahead-in-the-job-hunt">11 Ways College Grads Can Get Ahead in the Job Hunt</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/job-search-tips-that-will-get-you-a-job-in-2012">Job Search Tips That Will Get You a Job in 2012</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-crucial-job-searching-steps-most-people-skip">6 Crucial Job Searching Steps Most People Skip</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/weird-job-interview-questions-and-how-to-answer-them">Weird Job Interview Questions (and How to Answer Them)</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-networking-tips-for-the-recently-unemployed">7 Networking Tips for the Recently Unemployed</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Job Hunting advice applying for jobs eating crow job interviews networking pride quitting Tue, 29 Aug 2017 08:30:08 +0000 Paul Michael 2010038 at http://www.wisebread.com Sell Your House Faster With These 6 House Flipping Tricks http://www.wisebread.com/sell-your-house-faster-with-these-6-house-flipping-tricks <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/sell-your-house-faster-with-these-6-house-flipping-tricks" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-177709534.jpg" alt="use pro flipper tips to sell a house fast" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>When you're ready to sell your home, there's no reason you can't sell like a professional. People who flip homes for a living know what makes a difference for a quick sale at a great price. Take advantage of their insight and tips for a better home-selling experience.</p> <h2>1. Invest in your curb appeal</h2> <p>You might be super-proud of your hardwood flooring or custom cabinetry, but what's the first thing a potential buyer sees? Your lawn. Those scraggly trees. The flower beds, or lack thereof. The front door with its faded coat of paint. All these outdoor elements create a first impression, and a good first impression sets the selling stage.</p> <p>House-flipping pros know a fresh coat of paint on the doors, shutters, and exterior trim can have a much better impact on potential buyers. It's a good idea, too, to invest in a new, stylish mailbox that matches your home's exterior.</p> <p>Other curb appeal updates can be accomplished with a little spare time and hard work. Clear out any outdoor clutter; ensure that the roof, entry, and sidewalks are clean. Clean outdoor lighting and replace any burned-out bulbs or broken fixtures. Update the landscaping by trimming trees, adding in some annuals for a punch of color, and putting down fresh mulch over all beds. (See also: <a href="http://www.wisebread.com/6-ways-to-improve-your-curb-appeal-for-next-to-nothing?ref=seealso" target="_blank">6 Ways to Improve Your Curb Appeal for Next to Nothing</a>)</p> <h2>2. Know your neighborhood</h2> <p>Pro flippers know how important it is to make sure a home for sale fits well into its surroundings. If your home is noticeably shabbier than its neighbors, it will stand out, and not in a good way. You run the risk of people seeing it as rundown or neglected.</p> <p>Conversely, if your home has too many luxury upgrades to fit into the price point of the surrounding area, you might price yourself right out of a sale. Potential buyers want to know they'll be able to resell the house in the future; if it stands out as too costly in an area that doesn't match, you're likely to scare them away.</p> <h2>3. Do renovations right &mdash; and highlight them</h2> <p>The 2016 <a href="https://www.zillow.com/research/zillow-group-report-2016-13279/#execsum" target="_blank">Zillow Group Report on Consumer Housing Trends</a> found that homeowners who tackled a major renovation before selling their home tended to sell for up to 2 percent above the asking price. So if there's a big, obvious project you need to take care of, whether it's a dated bathroom or a sagging roof, it's worth the time and cash to do it.</p> <p>Just make sure you do the renovations right! Skimping on materials or trying to DIY a project that's beyond your capability can reduce your home's value, not increase it. Hire the professionals you need and pay for good materials. Then highlight the work you've had done, so potential buyers see the care, thought, and cost that's gone into it. (See also: <a href="http://www.wisebread.com/10-home-renovations-that-almost-pay-for-themselves?ref=seealso" target="_blank">10 Home Renovations That Almost Pay for Themselves</a>)</p> <h2>4. Make minor upgrades for a major difference</h2> <p>Experienced house flippers know that minor upgrades can make a huge difference in how a home's value is perceived. For example, replacing contractor-standard light fixtures, cabinet hardware, and faucets with premium and custom fixtures can make your home stand out. The custom upgrades are noticeable and differentiate your home from comparable ones on the market.</p> <p>Consider replacing kitchen appliances with used, high-end models, as well. You can score great deals on a used stove or refrigerator. Homebuyers don't know or care that it's been used by someone other than you; they just notice and appreciate the quality.</p> <h2>5. Stage for a quicker sale</h2> <p>You can <a href="http://www.wisebread.com/8-ways-to-stage-your-home-without-hiring-a-pro?ref=internal" target="_blank">stage a house yourself</a>, or you can hire a professional stager. Since staging is somewhat of an art form, it can be worth the price to hire an experienced pro. It's hard for some potential buyers to picture themselves in a home that's already lived in. The magic of staging is that the home looks just lived in enough; it's appealing, stylish, and comfortable, but not too personal.</p> <p>Professional staging is a relatively small investment, typically costing around 1 percent of the home's listing price. You might be able to pay a little less for a one-time consultation with a professional stager who will give you ideas you can implement yourself.</p> <p>You might think that staging isn't really necessary, but you'd be surprised by the difference it can make in your home sale. According to a 2015 profile by the National Association of Realtors, many realtors have found that staging can raise a home's value by up to 10 percent. And according to the Real Estate Staging Association, staged houses sell 73 percent faster than non-staged homes.</p> <h2>6. Do some modern marketing</h2> <p>The final expert tip is to use technology to put out some great marketing for your home. Social media is easy to use, and you can approach your ideal buyers as a group instead of waiting for them to come find you. Take (or hire someone to take) great photos of your house, write up a smart description, and spend a little money on targeted advertising on Facebook or Twitter.</p> <p>Social media advertising can be very inexpensive. Even a couple of dollars a day will put your ad in front of several thousand people in a targeted group. After they see that curb appeal, upgrades, and staging, you'll be selling like a pro flipper in no time.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fsell-your-house-faster-with-these-6-house-flipping-tricks&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FSell%2520Your%2520House%2520Faster%2520With%2520These%25206%2520House%2520Flipping%2520Tricks.jpg&amp;description=Sell%20Your%20House%20Faster%20With%20These%206%20House%20Flipping%20Tricks"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/Sell%20Your%20House%20Faster%20With%20These%206%20House%20Flipping%20Tricks.jpg" alt="Sell Your House Faster With These 6 House Flipping Tricks" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/annie-mueller">Annie Mueller</a> of <a href="http://www.wisebread.com/sell-your-house-faster-with-these-6-house-flipping-tricks">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-to-stage-your-home-without-hiring-a-pro">8 Ways to Stage Your Home Without Hiring a Pro</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-unexpected-costs-of-selling-a-home">8 Unexpected Costs of Selling a Home</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-to-improve-your-curb-appeal-for-next-to-nothing">6 Ways to Improve Your Curb Appeal for Next to Nothing</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-questions-real-estate-agents-hear-most-often">8 Questions Real Estate Agents Hear Most Often</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-times-to-update-your-homeowners-insurance">7 Times to Update Your Homeowners Insurance</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Real Estate and Housing advice curb appeal experts flipping homebuyers list price marketing professionals remodeling renovations selling a home staging Mon, 21 Aug 2017 09:01:06 +0000 Annie Mueller 2005874 at http://www.wisebread.com Think Like a Startup to Boost Your Finances http://www.wisebread.com/think-like-a-startup-to-boost-your-finances <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/think-like-a-startup-to-boost-your-finances" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/confident_in_her_business.jpg" alt="Confident in her business" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>From tech giants like Facebook, Dropbox, and Instagram, to retailers like Harry's, Warby Parker, and CartFresh, companies who found success as startups seem to be all the rage in business news. But don't take startups as a business fad &mdash; there are plenty of personal finances lessons that the average Jane and Joe can learn from them.</p> <h2>1. Focusing on too many things can kill your finances</h2> <p>Spreading your financial goals too thin can often do more harm than good. Successful startup founders often find that a service that does one thing really well works better than a service that tries to do many things.</p> <p>Venture capitalist and PayPal co-founder Peter Thiel advises all budding entrepreneurs to think hard and pursue a single idea that nobody else is doing. In an article for The Wall Street Journal, Thiel asked entrepreneurs, &quot;What valuable company is nobody building?&quot; The answer to this question is harder than it looks.</p> <h3>Personal finance lesson</h3> <p>Keep things simple. Focus on the biggest issue affecting your finances. For example, hone in on paying back a 401(k) loan or eliminating high-interest credit card debt.</p> <h2>2. Forgetting that cash is still king</h2> <p>Startups famously burn through cash for &quot;growth,&quot; believing they will land yet another round of capital the next time around. That plan cannot only backfire, but become the death sentence of some startups. An example of this is server chip designer Calxeda. Despite raising $131 million in four rounds of financing, executives had to shut down operations in 2013 and declared, &quot;We simply ran out of money.&quot;</p> <h3>Personal finance lesson</h3> <p>Plan ahead and be ready for periods in which you won't get a constant paycheck. Even when receiving payment from your employer, sometimes <a href="http://www.wisebread.com/what-to-do-if-your-paycheck-bounces?ref=internal" target="_blank">paychecks can bounce</a>! Pay yourself first out of every paycheck and build an emergency fund to cover your basic expenses for three to six months.</p> <h2>3. Preparing to be wrong</h2> <p>&quot;Pivot&quot; is among the top three terms most used by startup founders. And for good reason: There are countless stories of million-dollar ideas that flopped but were able to turn into much more profitable ones after a well-timed adjustment.</p> <p>Take Payal Kadakia, for example, who first founded Classtivity (a self-described &quot;OpenTable for fitness classes&quot;) with a pay-per-class model. About two years into operations, Kadakia's service wasn't seeing the user traction that she was seeking. So, she pivoted Classtivity into ClassPass, a monthly $99 subscription that lets users go to any class at any participating gym. Once a struggling startup, ClassPass is now a $470 million business.</p> <h3>Personal finance lesson</h3> <p>If the plan isn't working at all, it's time to change the plan. Consider these facts:</p> <ul> <li> <p>50 percent to 70 percent of college students change their majors at least once and most <a href="https://sites.laverne.edu/careers/what-can-i-do-with-my-major/" target="_blank">will change majors</a> at least three times before graduation.</p> </li> <li> <p>American workers stay on the same job for a median of 4.2 years, according to MarketWatch.</p> </li> <li> <p>The average person changes jobs 10 to 15 times (with an average 12 job changes), according to data from the U.S. Bureau of Labor Statistics.</p> </li> </ul> <p>Change is inevitable, so welcome it and make the most out of it. It may very well improve your financial situation.</p> <h2>4. Outsourcing nonessential activities</h2> <p>&quot;Spend your calories on things you do well and the things that make you and your business valuable &mdash; and outsource things that aren't core to that mission,&quot; Jeff Haynie, co-founder and CEO of Appcelerator, wrote for Recode. From accounting to employee meal planning, startups are well known for outsourcing as much as possible to keep overhead costs down.</p> <p>To improve your overall productivity, Matt DeCelles, co-founder of sunglass retailer William Painter, recommends mapping out all tasks and determining which ones may be better completed by another person. By focusing on core operational activities, DeCelles is able to make the most out of his day. (See also: <a href="http://www.wisebread.com/11-time-saving-hacks-from-the-worlds-busiest-people" target="_blank">11 Time Saving Hacks From the World's Busiest People</a>)</p> <h3>Personal finance lesson</h3> <p>Remember complaining about how you never seem to have time to balance your checkbook, organize your tax deductions, or get an additional quote for a home or car loan? Spending money on &quot;help&quot; to complete these tasks can save you a couple hundred dollars in the long run.</p> <p>If you think that you need to be a high roller to hire somebody, think again. Leverage gig economy sites such as Fiverr, Elance, ODesk, Fancy Hands, or Zirtual to post your tasks, find talented freelancers, or hire a virtual assistant for as little as $5 to $10 per hour, depending on the type of task.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fthink-like-a-startup-to-boost-your-finances&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FThink%2520Like%2520a%2520Startup%2520to%2520Boost%2520Your%2520Finances.jpg&amp;description=Think%20Like%20a%20Startup%20to%20Boost%20Your%20Finances"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/Think%20Like%20a%20Startup%20to%20Boost%20Your%20Finances.jpg" alt="Think Like a Startup to Boost Your Finances" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/damian-davila">Damian Davila</a> of <a href="http://www.wisebread.com/think-like-a-startup-to-boost-your-finances">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-things-football-teaches-us-about-money">9 Things Football Teaches Us About Money</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/47-simple-ways-to-waste-money">47 Simple Ways To Waste Money</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-new-podcasts-thatll-improve-your-money-mindset">10 New Podcasts That&#039;ll Improve Your Money Mindset</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/11-freelance-jobs-that-pay-surprisingly-well">11 Freelance Jobs That Pay Surprisingly Well</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-smart-things-to-do-with-your-settlement-money">8 Smart Things to Do With Your Settlement Money</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Entrepreneurship advice cash financial lessons gig economy outsourcing planning startups strategies Fri, 28 Jul 2017 09:00:05 +0000 Damian Davila 1989544 at http://www.wisebread.com The Financial Basics Every New Grad Should Know http://www.wisebread.com/the-financial-basics-every-new-grad-should-know <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-financial-basics-every-new-grad-should-know" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/thoughtful_graduate_student_woman_looking_at_light_bulb.jpg" alt="Thoughtful graduate student woman looking at light bulb" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>If you're a recent college grad, congratulations. As you settle into your first job, you'll probably have more money flowing through your life than ever before.</p> <p>Take a minute to think of your financial potential. Let's say your starting salary is $45,000. If you're 21 years old, earn a 3 percent raise each year, and work until you're 70, you will have made nearly $5 million by the time you retire! (To use your actual salary and change other assumptions, use <a href="https://www.calcxml.com/calculators/ins07" target="_blank">this lifetime earnings calculator</a>.)</p> <p>Here are seven ideas for making the most of your financial potential.</p> <h2>Plan to succeed</h2> <p>To be intentional about your use of money, you need a plan. That's right, you need a budget &mdash; or as I prefer to call it, a cash flow plan. Today, free tools such as Mint.com make the process relatively painless.</p> <p>There are three key activities involved in using a budget: planning, tracking, and adjusting. First, figure out how much of your income you need to allocate to housing, food, clothing, and all the rest of your expenses. Your income will determine how much you have for discretionary spending on, say, entertainment.</p> <p>Then, keep track of your expenses. You can jot them in a notebook or spreadsheet, or link a tool like Mint to your checking account and credit cards, so it can do much of the tracking for you.</p> <p>Don't be discouraged if you don't hit your numbers each and every month. Your assumptions may have been unrealistic. Plus, your goals and circumstances will change, so the amounts you allocate for various categories will need to be adjusted over time as well.</p> <h2>Put some away</h2> <p>The key to building wealth is to set aside a portion of every dollar you earn for saving and investing. There are two separate types of savings that are important.</p> <p>First, there's an emergency fund. In life, stuff happens. An important way to avoid going into debt for that stuff is to have some money set aside in savings. Financial advisers often recommend your emergency fund have enough to cover three to six months' worth of essential living expenses.</p> <p>But when you're just starting out, you probably have relatively few breakable moving parts in your life. For example, renting an apartment is less financially risky than owning a home. If that's you, having three months' worth of expenses in savings is probably enough.</p> <p>The second type of savings is for periodic expenses. These are expenses that occur every year, but not every month &mdash; things like a semiannual car insurance premium, end-of-year holiday gifts, or a vacation. Take the annual total of each of these items, divide by 12, and then put that much in savings each month. That way, when the expense comes due, you'll have the money already set aside.</p> <h2>Invest for your future</h2> <p>A little bit of money invested each month for a long time and at a decent rate of return will eventually turn into a lot of money you can use for retirement. Using our earlier assumptions (age 21, starting salary of $45,000, and a 3 percent annual raise), if you invest 10 percent of your salary (a good target) and generate an average annual return of 7 percent, by the time you're 70, you will have built a retirement nest egg of $2.7 million!</p> <p>Bottom line? If your employer offers a workplace retirement plan, such as a 401(k), sign up as soon as possible. And don't miss out on any matching money.</p> <h2>Keep your biggest expense under control</h2> <p>Aim to spend no more than 25 percent of your monthly gross income on housing &mdash; even better if you can keep it to no more than 20 percent. If you own, that's the combination of your mortgage, insurance, and property taxes. If you rent, that's the combination of your rent, insurance, and utilities.</p> <p>Keeping your housing costs within that range will give you the margin you need to save, invest, and enjoy financial peace of mind.</p> <h2>Avoid a car payment</h2> <p>Vehicles depreciate in value quickly, so avoid financing them. If you can't pay cash right away, see if you can go without a car, at least while you save up for one. That may be viable if you live in a city with good public transportation. If not, get the least expensive used car that's highly rated by Consumer Reports.</p> <p>You're not looking for something flashy. You're looking for a car you can pay off quickly and keep for a long time. By the time you need to replace it, the combination of your savings and the value you'll still be able to get when trading in your current car should enable you to afford a nicer car.</p> <h2>Choose your bank or credit union carefully</h2> <p>Too often, people choose where to open a checking account based on which bank has the best promotion. Once you go to the trouble of setting up online bill-pay with your utilities, insurance providers, and others, the hassle factor involved in changing banks goes up a lot. So, choose carefully.</p> <p>If you use an ATM frequently, you'll want a bank with lots of ATM locations. And you'll probably want a bank that doesn't charge a fee for a low balance.</p> <h2>Get a credit card</h2> <p>Having a credit card in your own name will help you start building a credit score, which is beneficial for everything from getting a job to paying the least for insurance. (See also: <a href="http://www.wisebread.com/how-to-use-credit-cards-to-improve-your-credit-score?ref=seealso" target="_blank">How to Use Credit Cards to Improve Your Credit Score</a>)</p> <p>If you don't have a credit card already, see if you could get one through your bank. If not, a retailer may be more willing to approve you &mdash; but retail cards are notorious for having high interest rates, so make sure you pay off your bills quickly. If you still have trouble, look into getting a <a href="http://www.wisebread.com/the-5-best-secured-credit-cards" target="_blank">secured card</a>. With a secured card, you'll have to put down a deposit, which will usually be equal to your credit limit.</p> <p>Just be sure to be responsible. That means using your credit card only for preplanned, budgeted expenses, recording any charges in your budget right away, and paying the balance on time and in full each month.</p> <p>If you take the steps and build the habits described above, you'll give yourself the best possible chance of making the most of your financial potential.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fthe-financial-basics-every-new-grad-should-know&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FThe%2520Financial%2520Basics%2520Every%2520New%2520Grad%2520Should%2520Know.jpg&amp;description=The%20Financial%20Basics%20Every%20New%20Grad%20Should%20Know"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/The%20Financial%20Basics%20Every%20New%20Grad%20Should%20Know.jpg" alt="The Financial Basics Every New Grad Should Know" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/matt-bell">Matt Bell</a> of <a href="http://www.wisebread.com/the-financial-basics-every-new-grad-should-know">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-12-month-get-richer-plan">The 12-Month Get-Richer Plan</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-find-the-savings-strategy-that-works-for-you">How to Find the Savings Strategy That Works For You</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-online-forums-thatll-help-you-reach-your-financial-goals">9 Online Forums That&#039;ll Help You Reach Your Financial Goals</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/are-you-putting-off-these-9-adult-money-moves">Are You Putting Off These 9 Adult Money Moves?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/dont-start-a-family-before-reaching-these-5-money-goals">Don&#039;t Start a Family Before Reaching These 5 Money Goals</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance advice budgeting college graduates expenses financial planning grads investing money management retirement saving money tips Fri, 21 Jul 2017 08:00:11 +0000 Matt Bell 1988263 at http://www.wisebread.com 7 Ways Retirement Planning Changes When You're Single http://www.wisebread.com/7-ways-retirement-planning-changes-when-youre-single <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/7-ways-retirement-planning-changes-when-youre-single" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/senior_woman_relaxing.jpg" alt="Senior woman relaxing" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>It can sometimes feel like everything is created with couples in mind &mdash; including retirement planning. When every article, tip, and suggestion for retirement starts with the assumption that you are married, you might be forgiven for assuming that retiring solo is just a matter of cutting retirement planning advice in half.</p> <p>But there are specific challenges and concerns (not to mention benefits!) that single retirees need to prepare for before they hang up their careers. Here are seven ways that preparing for retirement is different for singles.</p> <h2>1. You need to have adequate disability insurance</h2> <p>Relying on no one but yourself can feel pretty liberating. Not only do you answer to no one but yourself, but you also get to enjoy the fruits of your own labor without having to compromise.</p> <p>The downside to this, however, is figuring how you will protect yourself in case your income runs dry. While anyone who relies on income from their job should carry adequate disability insurance, this is even more important for single workers who may not have another safety net to catch them if a disability makes it impossible to work. You need to protect yourself, your income, and your assets from the possibility you may be unable to work, even before you start the nitty-gritty of retirement planning.</p> <p>Even if you have disability insurance through work, that may not be adequate to protect you from a loss of income. Make sure you know exactly how much your work insurance covers and for how long, so that you are not left without an income if it's not enough. Also, don't assume that you are immune to potential disabilities just because the most strenuous thing you do at work is operate the copy machine. Illness is behind the majority of long-term absences from work &mdash; and anyone can get sick at any time.</p> <h2>2. Prepare for your health care needs</h2> <p>Health care costs are a major concern for all retirees, since this is one aspect of your retirement budget that you may not have control over. According to a 2016 Fidelity study, a 65-year-old couple retiring in 2016 would need $260,000 for health care to cover their medical and health care needs for the rest of their lives.</p> <p>That dollar figure is frightening no matter your marital status, and it's important that single people recognize that their costs may be higher than just half of a couple's health care costs. That's because many married couples can help each other to remain independent in ways that single retirees would need to pay for. For instance, you may need to pay for someone to help you at home or for entry into a retirement community sooner than a married couple would need those things.</p> <p>While <a href="http://www.wisebread.com/is-long-term-care-insurance-worth-it" target="_blank">long-term care insurance</a> has often been touted as a method of mitigating these expenses for both married and single retirees, the cost of this kind of insurance has become prohibitive. To prepare for the possibility of bad health in retirement, singles should also explore creative solutions to long-term health issues. For instance, taking in a rent-free roommate who helps with daily tasks is not only money-saving, but also offers social support. Planning ahead for potential solutions to health and mobility issues can provide you with some imaginative solutions that money can't buy.</p> <h2>3. Assign a power of attorney</h2> <p>It's easy to assume that you can skip the whole issue of legal planning if you are single and childless, but that's not necessarily true. For instance, do you know who will take care of your health care or financial decisions if you should become incapacitated? You need to assign a power of attorney to make sure that your wishes are followed if you cannot make your own decisions.</p> <p>Your power of attorney also needs to know where to find your important papers and should be kept apprised of any changes in your life or directives. This is the person who will pay your bills and handle your advanced directive if you fall ill. You can either pick someone in your life whom you trust, or hire a professional whom you trust to fill that role.</p> <h2>4. Invest in tax-deferred retirement vehicles during your career</h2> <p>Single workers miss out on a number of tax breaks that are offered to married couples. According to Jane Hodges writing for <em>The Wall Street Journal</em>, &quot;Without child tax credits, a spouse exemption, and no one with whom to realize the benefits of filing jointly, singles can take a pretty big tax punch during peak earning years.&quot;</p> <p>For this reason, single workers have a particular need to invest in tax-advantaged retirement vehicles, such as 401(k) and traditional IRA accounts. These vehicles allow you to make pretax contributions, which lowers your taxable income while also helping you prepare financially for retirement.</p> <h2>5. Consider rolling over into a Roth IRA before age 70&frac12;</h2> <p>Of course, Uncle Sam will still want his cut of the income you put in tax-deferred retirement accounts, which can cause a nasty tax surprise for singles post-retirement. That's because withdrawals from tax-deferred retirement accounts are taxed as ordinary income, and single retirees still do not have access to the tax breaks offered to married couples.</p> <p>This can become a serious problem for some single retirees as of age 70&frac12; because of the required minimum distributions on tax-deferred accounts. Traditional IRAs and 401(k)s require that retirees begin withdrawing a minimum distribution (based on a percentage of total assets) at age 70&frac12;, which means you might be facing a surprisingly high tax bracket upon reaching age 70&frac12;. You may also be forced to take more money from your accounts than you want or need because of the required minimum distribution.</p> <p>To protect yourself from this potentially painful tax bite, consider rolling over a portion of your assets from tax-deferred funds to a Roth IRA account before age 70&frac12;. Since Roth accounts are funded with after-tax dollars, you will have to pay ordinary income tax on your rollover. However, this will allow you to decide when you will pay those taxes and give you more freedom to keep your money invested if you don't need it.</p> <h2>6. Hold off on Social Security for as long as you can</h2> <p>Options for optimizing Social Security benefits are much simpler for singles. Basically, the only way to get a higher monthly benefit if you are single is to wait. The longer you can wait to receive your benefits between age 62 (the earliest you can take benefits) and 70 (when the benefits stop growing), the more money you will see with every monthly check. Even if you cannot wait until age 70, or your full retirement age (currently age 66), know that each month you delay taking your Social Security retirement benefits means a little more money in your checks.</p> <p>It's also important to remember that the federal government does not necessarily define single the same way you do. If you are divorced but were married for at least 10 years, then you are eligible for spousal benefits based on your ex's income record. However, you will collect your spousal benefits concurrently with your retirement benefits, so you will only see an increased benefit if your ex-spouse made a lot more money than you did.</p> <h2>7. Embrace the opportunities</h2> <p>While the IRS and Social Security Administration may both make marriage look like the better option &mdash; at least financially &mdash; it's important for singles to remember how many more opportunities they have available to them than do married couples. That's because a footloose and fancy-free retiree has far fewer obstacles to retirement than does a married couple.</p> <p>For instance, retiring abroad can be a very economical (not to mention fun) choice, and it is much easier for a single retiree to pull up roots than it is for a couple. Similarly, traveling in retirement can be much cheaper for one, since you do not have to compromise on where you are willing to save money.</p> <p>Single retirees can also explore alternative living options, like living with several friends &mdash; there's an excellent reason why all the Golden Girls were single, after all &mdash; or taking in a younger boarder or roommate, or even moving to a cheaper state. Making these decisions solo means you can find the living situation or opportunity that best fits your needs, wants, and temperament.</p> <!--<h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><script async defer src="//assets.pinterest.com/js/pinit.js"></script> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/7%20Ways%20Retirement%20Planning%20Changes%20When%20Youre%20Single.jpg" alt="7 Ways Retirement Planning Changes When You're Single" width="250" height="374" /></p> </div>--><!--<h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><script async defer src="//assets.pinterest.com/js/pinit.js"></script> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/7%20Ways%20Retirement%20Planning%20Changes%20When%20Youre%20Single.jpg" alt="7 Ways Retirement Planning Changes When You're Single" width="250" height="374" /></p> </div>--><br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/7-ways-retirement-planning-changes-when-youre-single">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-retirement-planning-steps-late-starters-must-make">7 Retirement Planning Steps Late Starters Must Make</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-age-milestones-that-impact-your-retirement">6 Age Milestones That Impact Your Retirement</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/choosing-a-retirement-account-whats-available-and-what-s-best-for-you">Choosing a Retirement Account: What&#039;s Available, and What’s Best for You?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-save-for-retirement-when-you-are-unemployed">How to Save for Retirement When You Are Unemployed</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/this-is-when-you-should-borrow-from-your-retirement-account">This Is When You Should Borrow From Your Retirement Account</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Retirement 401(k) advice disability insurance health care IRA loss of income not married power of attorney retirement planning singles Fri, 14 Jul 2017 09:01:05 +0000 Emily Guy Birken 1982441 at http://www.wisebread.com Make Sure You Get Paid and 4 Other Great Tips From Famous Commencement Speakers http://www.wisebread.com/make-sure-you-get-paid-and-4-other-great-tips-from-famous-commencement-speakers <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/make-sure-you-get-paid-and-4-other-great-tips-from-famous-commencement-speakers" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_on_her_graduation_day.jpg" alt="Woman on her graduation day" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Graduation season brings with it a slew of commencement speeches, all of which tend to repeat the same old cliches about bright futures, following one's dreams, and how graduation marks a beginning rather than an end. While great commencement speakers find ways to package these old chestnuts in humorous speeches and elegant words, most of these addresses do not offer graduates any actionable advice.</p> <p>However, some graduation speakers do have excellent words of wisdom to offer new grads. In particular, the following five famous people offered some important money and career tips that graduates (and anyone else watching their speeches) can take to heart.</p> <h2>Lesson #1: Get paid!</h2> <h3>Maria Bamford, University of Minnesota 2017</h3> <p>This spring, comedian <a href="https://vimeo.com/217651951" target="_blank">Maria Bamford</a> gave one of the most unusual &mdash; and helpful &mdash; commencement addresses of all time at her alma mater, the University of Minnesota. Bamford used her speech as an opportunity to detail the negotiation process she went through to receive a $10,000 paycheck from the school in exchange for her speech.</p> <p>The University had originally offered her nothing for the gig, which made her wonder if the school was lowballing her. &quot;Was the University of Minnesota suggesting that I couldn't get paid for the exact job that I paid them to teach me how to do?&quot; she asked the laughing crowd.</p> <p>Bamford went on to say that she requested $20,000 before being offered the $10,000 she ultimately accepted. Her business adviser (an aluminum salesman and the father of a friend) wanted her to ask to split the difference at $15,000, but since Bamford is &quot;still from Duluth, and still ashamed,&quot; she accepted the $10,000 &mdash; which only netted her $5,000 after taxes and commissions were removed.</p> <p>This lesson about the importance of getting paid what you are worth became even more concrete for one member of the graduating class. Bamford ended her address by asking graduates who owed money to Sallie Mae to raise their hands, and then asking if there were specifically any theater majors who owed money to Sallie Mae. One theater major in the front row was invited on stage, where Bamford handed over the $5,000 speaking fee check, already made out to Sallie Mae. She told the graduate that it would have been a larger amount, if Bamford had been a better negotiator.</p> <p>Doubtless, every graduate in the audience came away from that speech with a much better sense of the importance of asking for what they are worth.</p> <h2>Lesson #2: If you worship money, then you will never have enough</h2> <h3>David Foster Wallace, Kenyon College 2005</h3> <p>The writer <a href="https://youtu.be/8CrOL-ydFMI" target="_blank">David Foster Wallace</a> gave this speech over a decade ago, and it has shown up on lists of best commencement addresses ever since. The overall message of the speech, which is entitled <em>This Is Water</em>, is about being aware of the world around you and the ways in which your thoughts shape your reality. However, in one portion of his address, Wallace talks about how we all worship something, and he cautions against worshipping the wrong thing, including money:</p> <p style="margin-left: 40px;">&quot;And the compelling reason for maybe choosing some sort of god or spiritual-type thing to worship &hellip; is that pretty much anything else you worship will eat you alive. If you worship money and things, if they are where you tap real meaning in life, then you will never have enough, never feel you have enough. It's the truth.&quot;</p> <p>As he acknowledges in the speech itself, Wallace's message is as old as human storytelling. But the language and stories he uses to get his listeners to understand the power we give to the things we worship can help you to reframe the way you think about money and other worldly things.</p> <h2>Lesson #3: If everyone had a safety net, we would all benefit</h2> <h3>Mark Zuckerberg, Harvard University 2017</h3> <p><a href="http://www.cnbc.com/2017/05/25/mark-zuckerberg-calls-for-universal-basic-income-at-harvard-speech.html" target="_blank">Mark Zuckerberg</a>, the founder of Facebook, famously dropped out of Harvard before attaining his degree, leading to his joke that his commencement speech there was the first thing he finished at the university. But his ability to drop out of Harvard and create the juggernaut that is Facebook is partially due to luck &mdash; he knew that he had a stable family who could support him. He told the graduates:</p> <p style="margin-left: 40px;">&quot;I know a lot of entrepreneurs, and I don't know a single person who gave up on starting a business because they might not make enough money. But I know lots of people who haven't pursued dreams because they didn't have a cushion to fall back on if they failed.</p> <p style="margin-left: 40px;">&quot;We all know we don't succeed just by having a good idea or working hard,&quot; he went on to add. &quot;We succeed by being lucky, too. If I had to support my family growing up instead of having time to code, if I didn't know I'd be fine if Facebook didn't work out, I wouldn't be standing here today.&quot;</p> <p>Zuckerberg goes on to make the somewhat radical suggestion that people like him should pay for a universal basic income in order to make it possible for proto-entrepreneurs to try and fail without fear of losing everything. This idea may sound strange, but it could allow for huge innovations that could change the world.</p> <h2>Lesson #4: Be brave and just go for it</h2> <h3>Reshma Saujani, Harvard Graduate School of Education 2017</h3> <p><a href="https://www.youtube.com/watch?v=Xt--_V1Y6tU" target="_blank">Reshma Saujani</a> is the founder of Girls Who Code, an organization that works to teach girls computer programming in an effort to increase the number of women working in computer science. Saujani gave a commencement speech the day before Mark Zuckerberg, and she pointed out that more of the world's current revolutionaries look like him, rather than her:</p> <p style="margin-left: 40px;">&quot;I don't mean any shade to Zuckerberg &hellip; But America is a big, beautiful, diverse country &hellip; [yet white men have] occupied a platform that the rest of us haven't had access to.&quot;</p> <p>Saujani goes on to state that our society trains boys to be brave, and girls to be perfect, which means girls are kicking butt and taking names in the classroom, but less likely to be revolutionaries in the real world. So we need more women to focus on being brave rather than being perfect.</p> <p>This is excellent advice for anyone who fears failure, no matter their gender or skin color. Saujani has reminded graduates that waiting for the perfect moment or trying to be perfect is the enemy of innovation. Just going for it, like Zuckerberg did and many white guys have done before him, is something that all people should embrace.</p> <h2>Lesson #5: Prepare for failure when you take risks</h2> <h3>Atul Gawande, Williams College 2012</h3> <p>Writer and surgeon <a href="https://commencement.williams.edu/atul-gawande-commencement-speaker/" target="_blank">Atul Gawande</a> took on the common-but-meaningless graduation cliché about embracing risks in his 2014 commencement address to Williams College. While it is all well and good to recognize that risks are necessary to reach your goals, it can be difficult to know how to mitigate the damage if the risk doesn't turn out in your favor.</p> <p>To help grads understand what we can do to protect ourselves from risk, Gawande explained how surgeons are able to protect their patients from unanticipated complications on the operating table:</p> <p style="margin-left: 40px;">&quot;Scientists have given a new name to the deaths that occur in surgery after something goes wrong &mdash; whether it is an infection or some bizarre twist of the stomach. They call them a 'Failure to Rescue.' More than anything, this is what distinguished the great from the mediocre. They didn't fail less. They rescued more.&quot;</p> <p>Gawande went on to explain that there are three pitfalls to avoid when things go wrong: the wrong plan, an inadequate plan, and no plan at all. The secret to taking risks without losing your shirt (or your patient) is to make sure you recognize that failure is a possibility, and be prepared for it. Otherwise, you fail to rescue yourself, which compounds the failure.</p> <p>Ultimately, recognizing the possibility of failure and preparing for it will make it less likely that you will fail.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/make-sure-you-get-paid-and-4-other-great-tips-from-famous-commencement-speakers">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-unexpected-first-jobs-of-the-wealthy-and-famous">9 Unexpected First Jobs of the Wealthy and Famous</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-new-grads-guide-to-debt-management">The New Grad&#039;s Guide to Debt Management</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-inspiring-quotes-about-money-from-successful-women">6 Inspiring Quotes About Money From Successful Women</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-new-podcasts-thatll-improve-your-money-mindset">10 New Podcasts That&#039;ll Improve Your Money Mindset</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Career Building Education & Training advice celebrities college grads commencement speeches famous people new graduates Fri, 16 Jun 2017 08:00:09 +0000 Emily Guy Birken 1965248 at http://www.wisebread.com 8 Wise Tips Famous CEOs Would Give Their Younger Selves http://www.wisebread.com/8-wise-tips-famous-ceos-would-give-their-younger-selves <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-wise-tips-famous-ceos-would-give-their-younger-selves" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/business_boy_puts_ideas_in_machine_and_makes_money.jpg" alt="Business Boy Puts Ideas in Machine and Makes Money" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Every successful CEO has hit plenty of bumps on the road to the top. Despite the struggles, these top leaders have still managed to conquer challenges, shed their shortcomings, and grow both their skills and their net worth. They have made mistakes and learned from them.</p> <p>We wondered what some of the wealthiest CEOs would tell their younger selves, and found eight gems worth passing on. (See also: <a href="http://www.wisebread.com/11-finance-tips-you-wish-you-could-tell-your-younger-self?ref=seealso" target="_blank">11 Finance Tips You Wish You Could Tell Your Younger Self</a>)</p> <h2>1. Stay true to yourself</h2> <p>Kevin Johnson, CEO of Starbucks, is working hard to grow the chain from 26,000 locations today to 37,000 by 2021, all while maintaining the brand's unique appeal. He has some big shoes to fill, after taking over from Starbucks' iconic leader Howard Schultz in April 2017. His guiding principle, as he told Business Insider: Be authentic. By acknowledging all aspects of your authentic self &mdash; shortcomings and counterproductive tendencies included &mdash; you allow yourself and the people around you to do their best work.</p> <p>&quot;It's important to be comfortable being authentic,&quot; Johnson said, adding, &quot;Being authentic means you have to be vulnerable.&quot;</p> <h2>2. Find a job you love</h2> <p>Berkshire Hathaway Chairman and CEO Warren Buffett &mdash; one of the world's most successful investors with a net worth of $73 billion &mdash; puts it in layman's terms: Take on a career that makes you excited to wake up in the morning.</p> <p>&quot;You follow your passions. You find something you love,&quot; said Buffett at Fortune's Most Powerful Women Summit in 2014. &quot;The truth is, so few people really jump on their jobs, you really will stand out more than you think. You will get noticed if you really go for it.&quot; (See also: <a href="http://www.wisebread.com/the-5-best-pieces-of-financial-wisdom-from-warren-buffett?ref=seealso" target="_blank">The 5 Best Pieces of Financial Wisdom From Warren Buffett</a>)</p> <h2>3. Exceed expectations</h2> <p>DreamWorks co-founder Jeffrey Katzenberg's path to success was made by following this tip: Always give your best performance. And, if you can, outperform other people's expectations of your work.</p> <p>&quot;I don't think it matters how small or how big the task is,&quot; the Hollywood influencer, whose net worth is estimated at $750 million, famously said. &quot;If you can do it just a little bit better than what is expected, you will be noticed and rewarded.&quot;</p> <h2>4. Embrace tough assignments</h2> <p>Don't settle for easy work &mdash; that's the advice of PepsiCo CEO Indra Nooyi, who earned $29.8 million in 2016.</p> <p>&quot;Nobody notices when you do an easy job well,&quot; she told Business Insider in 2014. &quot;It's far better to challenge yourself by raising your hand for the toughest assignments and work to solve problems that no one else has been able to solve. That's how you truly become a trusted leader inside an organization.&quot;</p> <h2>5. Pursue extracurricular interests</h2> <p>&quot;My advice is to focus on becoming a complete person,&quot; said Goldman Sachs CEO Lloyd Blankfein, who grew up in a Brooklyn housing project and now has a net worth estimated at $1.1 billion. &quot;Everyone should focus on the content of his or her job, of course. But work is not the end; it's a means to an end. You owe it to yourself to open up to broader interests.&quot;</p> <p>So, pursue a hobby, travel, learn a new skill, read voraciously. Become that interesting person that makes great dinner conversation.</p> <h2>6. Focus on developing your own unique talents</h2> <p>Former Birchbox co-CEO Hayley Barna knows a thing or two about developing personal strengths and talents. She helped launch the subscription beauty box company in 2010 before stepping down five years later to become First Round Capital's first female partner.</p> <p>Her best advice is to identify and strengthen your distinct set of skills, rather than trying to be good at things you struggle with. For example, if you're a horrible writer but you're mathematically gifted, focus on your talent with numbers rather than trying to develop a literary voice.</p> <p>&quot;Never compare your weaknesses to someone else's strengths,&quot; Barna has said. &quot;While comparisons are tempting, especially for competitive, ambitious people, it's always important to focus on your own special talents. That's how you can make a real impact. And it's the coordination of everyone's unique skills that can make magic happen.&quot;</p> <h2>7. Own up to your mistakes</h2> <p>Dave Finocchio, CEO of Bleacher Report, would tell his younger self to admit his faults, act swiftly to correct them, and learn from them.</p> <p>&quot;I make mistakes all the time, and talk about them openly with people up and down our hierarchy,&quot; the digital sports franchise leader told Forbes in 2016. &quot;It fosters a culture where people should feel comfortable critiquing themselves honestly.&quot;</p> <h2>8. Push yourself</h2> <p>Marissa Mayer, former CEO of Yahoo, says she would counsel her younger self to get comfortable being uncomfortable. You'll never get ahead without pushing yourself to do things you've never done, and that means embracing tasks that you think you might not be fully prepared for.</p> <p>&quot;I always did something I was a little not ready to do,&quot; Mayer, whose net worth is $189 million, said in a 2015 speech. &quot;I think that's how you grow. When there's that moment of, 'Wow, I'm not really sure I can do this,' and you push through those moments, that's when you have a breakthrough.&quot;</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/brittany-lyte">Brittany Lyte</a> of <a href="http://www.wisebread.com/8-wise-tips-famous-ceos-would-give-their-younger-selves">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/its-the-21st-century-why-is-your-money-stuck-in-the-20th">It&#039;s the 21st Century — Why Is Your Money Stuck in the 20th?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-bedtime-routines-of-famous-financial-gurus">5 Bedtime Routines of Famous Financial Gurus</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-low-cost-alternatives-to-a-4-year-degree">4 Low-Cost Alternatives to a 4-Year Degree</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-of-the-coolest-sayings-about-saving">10 of the Coolest Sayings About Saving</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-quotes-to-inspire-your-dream-career">8 Quotes to Inspire Your Dream Career</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Career Building Lifestyle advice business CEOs entrepreneurs hard work investors quotes success stories wealthy Thu, 25 May 2017 09:00:11 +0000 Brittany Lyte 1953938 at http://www.wisebread.com How to Think Like a Billionaire When You’re Broke http://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-think-like-a-billionaire-when-you-re-broke" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/poor_woman_with_empty_wallet.jpg" alt="Poor woman with empty wallet" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>It&rsquo;s not easy being broke. As of 2014, there were almost 47 million Americans living below the poverty line. That&rsquo;s roughly 15 percent of the population.</p> <p>To simply tell these people to &quot;start thinking like a billionaire&quot; may seem tone deaf, or even cruel. But it actually is great advice. Millionaires and billionaires, especially those who are self-made, tend to think in a completely different way. It all comes down to a different view of the world. And it&rsquo;s time to embrace that mindset.</p> <h2>Don't think about the money you don&rsquo;t have</h2> <p>To illustrate this point, consider the test Dr. Tina Seelig gave her Stanford University students. She challenged them to <a href="https://www.psychologytoday.com/blog/creativityrulz/200908/the-5-challenge" target="_blank">make as much money as possible</a> in two hours using only $5 of &quot;seed funding&quot; tucked in an envelope. Working in teams, they could spend as many hours as they wanted planning, but once they tore open the envelope, the clock started ticking. The most successful results came from the teams that realized a very important part of the test &mdash; namely, that the $5 was a red herring.</p> <p>Concentrating on the small sum of money put them in a box, so they ignored it, and instead looked at ways to make money from scratch. Some of the ideas were incredible. One team made $650 by selling their time; they sold their three-minute presentation slot to a firm looking to recruit students in the class. Brilliant. Now that&rsquo;s how a billionaire thinks &mdash; looking at the opportunity, not the handicap.</p> <p>The lesson here is that the money you do not have right now should not, in any way, hold you back. If you don&rsquo;t have funds, find a way to use what you do have to make money. What can you sell? Is it your time? Is it knowledge? Is it a service? The lack of money in your account should not place a limit on your ideas.</p> <h2>Never say &quot;I can&rsquo;t afford it.&quot; Instead ask &quot;How can I afford it?&quot;</h2> <p>You may have heard it often growing up. &quot;Dad, can I get a new bike?&quot; &quot;No, we can&rsquo;t afford it.&quot; That&rsquo;s how poor and middle class people often think. They look at their current financial situation, and make a quick calculation. But that&rsquo;s the wrong approach.</p> <p>If you need something, or your kid wants something that isn&rsquo;t just a frivolous whim, don&rsquo;t automatically say, &quot;No, we can&rsquo;t afford it.&quot; Instead, counter with a question. Namely, &quot;OK &hellip; <em>how</em> can we afford that?&quot;</p> <p>Maybe it&rsquo;s a new stove, or replacing the old, worn-out car. If you immediately shut down the possibility, you&rsquo;ll never get it. A billionaire doesn&rsquo;t place these limits on ideas or dreams. They look into funding sources, ways to create capital, and many other money-generating avenues. And we&rsquo;re not talking about pulling out your credit card for something you can&rsquo;t afford and don&rsquo;t need.</p> <p>For necessities &mdash; or important dreams &mdash; it doesn&rsquo;t matter if the object in question costs $100 or $100,000,000. The process is still the same. How can you afford that? What can you do to make it happen? Start thinking. (See also: <a href="http://www.wisebread.com/how-to-come-up-with-1000-in-the-next-30-days?ref=seealso" target="_blank">How to Come Up With $1,000 in the Next 30 Days</a>)</p> <h2>See change as opportunity</h2> <p>Most of us are afraid of a major life change, be it a job loss, financial obligation, or a move to another state. These are stressful and difficult situations. But a billionaire sees any kind of change, even those most of us would consider negative, as an opportunity.</p> <p>If it&rsquo;s a job loss, it has created a glut of free time to use for a new venture. What can you do with that time that could create money in new and exciting ways? Think back to those college students with the $5 challenge. Some of them decided to make money waiting in line for people. They were making $20 a shot. Considering the minimum wage is currently $7.25, that&rsquo;s almost three times the amount for literally doing nothing.</p> <p>Fear of change is natural. But fear is a negative response to any situation, and in the long run, it will cripple your thinking and your ability to bounce back. Whatever the situation, take control and think positively. How can you turn it to your advantage? What do you have now that you did not have before this major event happened? Then, run with it.</p> <h2>Every penny saved is a penny earned</h2> <p>Billionaires do not blow money. People have this idea, which comes from a select few who hog the limelight, that the superrich are super wasteful. But they did not become rich by throwing money away.</p> <p>There is a now infamous anecdote about a billionaire who went into a New York bank asking for a $5,000 loan, and put his Bentley up as collateral. It was approved, and the bank employee parked the car in their underground garage. Two weeks later, the man returned from vacation, and paid back the $5,000, plus the $15.41 it accrued in interest. When asked why he, a rich man, would require such a small loan, he replied &quot;Where else could I have parked my car in New York City for two weeks, for only $15?!&quot;</p> <p>The story isn't real, but the strategy definitely is. This is how a billionaire would actually think about such a situation. Sure, they can afford the finest parking in the city, but why pay through the nose for it when they can get it for almost nothing?</p> <p>You can think the same way. What are you paying for, right now, that could be reduced in cost? What ways are there to save money on everyday purchases? From extreme couponing, to haggling and bartering, you have many options available to you.</p> <h2>Time really is money</h2> <p>Donald Trump once stated that he never wastes time. Even when he&rsquo;s on the golf course, he&rsquo;s doing business. He sleeps as little as possible, because every moment he&rsquo;s awake is an opportunity to make money or create something.</p> <p>Look at the ways you spend your time, and see how it can be maximized to work for you. If you&rsquo;re on the bus going to work, are you staring out of the window, or reading a book that could teach you a new skill? Do you have hobbies that are productive?</p> <p>Even playing video games can make you a small fortune, if you record yourself playing and post the videos to YouTube and Twitch. Indeed, the average &quot;pro-streamer&quot; makes between $3,000&ndash;$5,000 per month from 40 hours per week of game time. Think about that. They are literally being paid a living wage to play video games. Something that many people believe to be a waste of time has been turned into an income stream.</p> <h2>Consider every detail</h2> <p>It&rsquo;s been said that billionaires look at the bigger picture. It's often called &quot;the 30,000 foot view,&quot; which basically means seeing the layout, but not the houses, driveways, and storefronts. This is, in fact, the complete opposite of how a successful business operator thinks. Yes, the big picture is important at the get-go. But the details are what drives the success or failure of a venture. Often, it&rsquo;s a small detail that was overlooked that causes something to fail.</p> <p>Look at your own budget, and lifestyle, with that same eye for details. Are you paying $1 too much for something, especially a monthly bill? Did you examine the contract for your lease? Is there something in it that gives you a chance to save money? Did you get every deal you were supposed to get at the grocery store? Check the receipt.</p> <p>Back in 2005, a software company <a href="http://techtalk.pcpitstop.com/2012/06/12/it-pays-to-read-license-agreements-7-years-later/" target="_blank">hid a $1,000 prize</a> in the terms and conditions of its user agreement. It took five months, and over 3,000 sales, before someone actually read the agreement and claimed the money. Details count. Pay attention to them, and you could see incremental changes that really start to add up.</p> <p>Remember, billionaires and millionaires may live extravagant lives, but don't let that stop you from thinking the same way they do. It will make you wealthier in the process.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-inspiring-quotes-about-money-from-successful-women">6 Inspiring Quotes About Money From Successful Women</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-pearls-of-financial-wisdom-from-dave-ramsey">3 Pearls of Financial Wisdom From Dave Ramsey</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-only-money-advice-youll-actually-listen-to">The Only Money Advice You&#039;ll Actually Listen To</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-online-forums-thatll-help-you-reach-your-financial-goals">9 Online Forums That&#039;ll Help You Reach Your Financial Goals</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Lifestyle advice billionaires broke entrepreneurship ingenuity inspiration making money millionaires poverty saving money Wed, 24 May 2017 08:00:08 +0000 Paul Michael 1952957 at http://www.wisebread.com The Proper Ways to Discuss Salary in a Job Interview http://www.wisebread.com/the-proper-ways-to-discuss-salary-in-a-job-interview <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-proper-ways-to-discuss-salary-in-a-job-interview" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/confident_young_job_applicant.jpg" alt="Confident young job applicant" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Interviewing for a new position can be stressful. It's also a balancing act that can take time, and practice, to perfect.</p> <p>When it comes to salary expectations, the pressure increases exponentially. How much will they pay you? How much dare you ask for? What about benefits, and other deciding factors? The way you play this game can put thousands of extra dollars in your paycheck. So how should you bring it up?</p> <h2>When to discuss salary</h2> <p>There are a few different schools of thought on this. Some people say that you should wait until the person asking the questions mentions it. If they don't bring it up, you stay silent and wait for the next interview (if there is one). Others say that you should bring it up yourself if the interviewer doesn't mention it or skates around the subject. And some people are of the firm belief that you should only discuss salary once you've been offered the job.</p> <p>The fact is, there's no right or wrong answer here. You have to get a feel for how the interview process is going, and also the demeanor of the person doing the interview. If you have an instant rapport with this interviewer, and the meeting is going exceptionally well, you can be fairly confident that bringing up the subject of salary without being prompted will be OK.</p> <p>However, if you have one of those interviews with a cold interviewer behind the desk and very little chitchat, asking about salary in an already tense atmosphere could just make things worse.</p> <p>If the interviewer starts talking about the subject, without actually mentioning salary directly (for instance, they discuss benefits packages, paid time off, sick leave, and so on) then you have a natural &quot;in&quot; to bring it up.</p> <h2>Salary research is imperative</h2> <p>Chances are you already know the salary range for this position. If you don't, be prepared. Before you go into the first interview, or even apply for the job, do your research. Look on sites like Salary.com and Glassdoor.com to find the salaries of people in the position for which you're applying. Get a good range. Then, look at what different companies are paying for that role, and how that salary differs from state to state (or even country to country).</p> <p>You need to understand what you are worth and what the market will pay for someone with your skills and expertise. When you have that information, you put yourself in a position of confidence. Knowledge is power, and you will have a much stronger negotiating position if you have the research to back you up.</p> <h2>Use the anchoring technique</h2> <p>It's a technique widely used by people in sales, advertising, and marketing, and it works. Contrary to popular opinion, <em>you</em> need to come out with the first number in the interview. Old school interviewers and interviewees will say this is risky because you could name a number so high it disqualifies you, or so low you'll miss out on more money. Actually, as long as you've done your research, it's good business, and puts you in control of the discussion. (See also: <a href="http://www.wisebread.com/this-simple-negotiating-trick-puts-money-in-your-pocket?ref=seealso" target="_blank">This Simple Negotiating Trick Puts Money in Your Pocket</a>)</p> <p>Let's take a hypothetical: You know that this position is worth, say $95,000 a year plus benefits. You also know that you are highly-qualified, have a superb resume, impeccable references, and that the company in question has had trouble filling the role. Therefore, you ask for much more than $95,000. Start at $120,000, or more. You have good reason to want this much money. You are worth it, and every day the company does not have this role filled, they are wasting time and money looking for a candidate. If they really want you, they'll pay it. If they don't, they won't.</p> <p>By anchoring the interviewer to a higher figure, you can eventually haggle your way to a salary that you are comfortable taking &mdash; say $100,000, which may be $5,000 more than the company wanted to spend, but $20,000 less than your asking price. Everyone's a winner.</p> <h2>How to tackle some of the tricky salary questions</h2> <p>You are going to get asked about salary in a variety of ways. Remember, you're in a negotiation; you want the most money for the role and they want to pay as little as possible. Here are some typical questions, and how to handle them.</p> <h2>&quot;What kind of salary range are you looking for?&quot;</h2> <p>Think about that for a second. It's a ridiculous question. They're asking you, &quot;What is the least amount of money you would be willing to take for this role, and what is your high-end?&quot; Do you think they're going to give you the top end of your salary range? Of course not, you've already told them how cheaply they can get you.</p> <p>So, narrow the answer down to something that gives very little wiggle room. For example, &quot;I'm looking for a salary in the high $90s&quot; focuses on a salary that's at least $97,000 a year. If you say &quot;$90,000&ndash;$100,000,&quot; guess what &hellip; you're getting $90,000.</p> <h2>&quot;How much are you currently making?&quot;</h2> <p>This is another nasty question, although it may seem like a perfectly innocent one to ask. You may currently be earning $60,000 a year, but so what? After doing the research, paired with your experience, you know you should be getting at least $80,000 a year for the job to which you're applying.</p> <p>Don't fall into this trap, because you are selling yourself short. Simply answer with something like, &quot;It's an apples to oranges comparison to compare my current salary to this role. If you supply me with more information about the role, the benefits package, the hours, the workload, and so on, I can let you know what salary I am looking for.&quot;</p> <h2>&quot;What are your salary expectations?&quot;</h2> <p>&quot;Ummm &hellip; I'd like as much money as possible please!&quot; Clearly, that's not the right answer, but that's what you're thinking. Again, you need to be realistic based on the research you've done, your current level of experience, and what you can bring to this new firm. There is no harm in saying &quot;That's not a question I can answer until I have a much better grasp on the requirements of the position, and what benefits come with it.&quot;</p> <h2>&quot;We really want you, but can't afford you. Would you take a pay cut?&quot;</h2> <p>If you've already named your price and they ask you this question, don't give up. If they really want you, they should be willing to pay. This is a sly way of setting your expectations low. They're saying &quot;We're cheap, we want to pay the minimum.&quot;</p> <p>Well, until you know what that minimum is, you cannot possibly answer this question. Never say, &quot;I'd consider it,&quot; or, &quot;Sure, if that's what it takes to get my foot in the door.&quot; That's just rolling over for them. Instead, make them put the entire offer on the table first, including benefits, travel allowances, vacation time, sick time, and so on. It's possible that you could take less money than you're earning now if they give you other concessions, like working only four days a week, working remotely, or getting six weeks of paid time off.</p> <p>Remember, salary negotiation is a crucial part of the interview process, but you should not be chastised for wanting a good living wage. Good luck out there.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/the-proper-ways-to-discuss-salary-in-a-job-interview">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-get-hired-by-your-dream-company">How to Get Hired by Your Dream Company</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-land-the-job-when-youre-overqualified">How to Land the Job When You&#039;re Overqualified</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/11-ways-college-grads-can-get-ahead-in-the-job-hunt">11 Ways College Grads Can Get Ahead in the Job Hunt</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-things-you-should-never-include-in-your-cover-letter">7 Things You Should Never Include in Your Cover Letter</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-keep-your-job-search-a-secret">How to Keep Your Job Search a Secret</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Job Hunting advice anchoring technique interviewing negotiations new jobs pay questions research salary strategies wages Tue, 23 May 2017 09:00:11 +0000 Paul Michael 1951908 at http://www.wisebread.com 6 Inspiring Quotes About Money From Successful Women http://www.wisebread.com/6-inspiring-quotes-about-money-from-successful-women <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-inspiring-quotes-about-money-from-successful-women" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-465667602.jpg" alt="Woman hearing inspirational quotes from successful women" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>It's no secret that most people tend to think of finance as a boys' club. But women have been blazing trails, disrupting entrenched ideas and industries, and making serious bank for centuries. It is unfortunate that their words of wisdom have been so often overlooked.</p> <p>The following quotes from female financial gurus will inspire anyone to improve their lives, their careers, and their bottom lines.</p> <h2>1. &quot;Be thankful for what you have; you'll end up having more. If you concentrate on what you don't have, you will never, ever have enough.&quot; &mdash; Oprah Winfrey</h2> <p>At a net worth of $3.1 billion, Oprah Winfrey is one of the richest women in America &mdash; but she didn't start out that way.</p> <p>Winfrey was born into poverty and raised until age six by her grandmother before bouncing back and forth between her mother and father. She suffered sexual abuse at the hands of family members, and at age 14, she had a baby who died within days.</p> <p>Her early life was not characterized by abundance, and yet Winfrey still learned to be thankful for what she had, rather than what she lacked. Her sense of gratitude helped her to focus on building her career rather than feel bitter over her childhood of abuse and neglect.</p> <p>Winfrey's attitude about the power of gratitude is actually borne out by scientific research. People who are <a href="http://www.cnbc.com/2016/11/04/being-grateful-improves-your-chances-of-success-studies-show.html" target="_blank">thankful for what they already have</a> are more successful, more emotionally resilient, and often even physically healthier. That's because they recognize there is no way to &quot;have it all.&quot; Feeling grateful for what they <em>do</em> have makes it possible to focus on appreciating the life they live right now, while also working toward the life they want to live.</p> <p>The fact that Winfrey overcame such a difficult, scarring childhood and feels grateful for the goodness in her life is part of what makes her so beloved. We can all learn to appreciate the abundance we already have while we work to build the life, career, and relationships we want.</p> <h2>2. &quot;One thing I've learned is that I'm not the owner of my talent; I'm the manager of it.&quot; &mdash; Madonna</h2> <p>Madonna may be the original &quot;Material Girl,&quot; but the singer, songwriter, actress, entrepreneur, and writer has parlayed her incredible talent into an estimated net worth of $560 million &mdash; meaning she never again has to wait for a man to present her with diamonds.</p> <p>Madonna's description of her talent may sound surprising. If she is not the owner of her own creativity and money savvy, then who is?</p> <p>As it turns out, Madonna's view of her abilities is reflective of something called the &quot;growth mindset.&quot; Rather than viewing her talent as an innate and fixed part of herself, Madonna sees it as something that she can manage and grow. If she believed that she &quot;owned&quot; her talent, then it would be easy for her to rest on her laurels and assume there is nothing new she could do with her music or writing.</p> <p>But as the manager of a prodigious talent, Madonna accepts the challenge of trying to push her creative boundaries and recreate herself over and over again. This mindset has allowed her to have an unparalleled career that has spanned close to four decades.</p> <p>That makes it an attitude we should all try to emulate. Whatever abilities we have can always be managed and improved by refusing to see them as static, which can lead to great success.</p> <h2>3. &quot;My best successes came on the heels of my failures.&quot; &mdash; Barbara Corcoran</h2> <p>Most people know Barbara Corcoran from her role on the show <em>Shark Tank</em>, but the Manhattan real estate investor, who is now worth $40 million, started off as a serially unemployed teacher and sometimes-waitress. After failing at 22 different jobs, she borrowed $1,000 from her boyfriend in 1973, and started a real estate business that she called The Corcoran Group. The boyfriend didn't last, but the business did. It grew to a $66 million company, which she sold in 2001 before embarking on her writing, speaking, consulting, and television career.</p> <p>Corcoran understood throughout her series of early failures that each of those missteps did not reflect poorly on her. They were simply different options to try until she found the right fit for her career. Since she did not internalize these failures, she was able to take the lessons she learned from them and find success.</p> <p>We should all take a page from Barbara Corcoran and learn to see each failure as a potential steppingstone to success. Picking yourself up after a failure may be difficult, but that is the only way you will ever succeed.</p> <h2>4. &quot;Some people think luxury is the opposite of poverty. It is not. It is the opposite of vulgarity. Luxury is the opposite of status. It is the ability to make a living by being oneself. It is the freedom to refuse to live by habit. Luxury is liberty. Luxury is elegance.&quot; &mdash; Coco Chanel</h2> <p>The iconic creator of the Chanel brand, Coco Chanel was born to an impoverished family in France. She died in 1971 with a net worth of $100 million. Her commitment to fashion and luxury made her one of the most influential people of the 20th Century, and her fashion line is worth $19 billion to this day.</p> <p>Growing up, Chanel knew the deprivations of poverty. This was part of the reason why she was so determined to enjoy luxury throughout her adult life. For Chanel, luxury was not defined by the corseted, heavy dresses that had been haute couture for many years before her own success. For Chanel, luxury in fashion had to be comfortable and true to the wearer. Trying to impress with excess was vulgar, and that was the true opposite of luxury.</p> <p>By Chanel's definition, luxury is available to anyone, no matter their income. And this is an important distinction to remember as you pursue your own successes. You can easily enjoy the luxurious comfort of being yourself, even if your budget runs more Old Navy than Chanel.</p> <h2>5. &quot;Money doesn't fall out of the sky. We had a business plan, an extraordinary proposal, and it was the right timing.&quot; &mdash; Sheila Johnson</h2> <p>Sheila Johnson is the co-founder of Black Entertainment Television and current owner of the WNBA team the Washington Mystics. Her net worth is currently estimated to be $710 million &mdash; but she wants to make sure that anyone who aspires to her kind of wealth understands what it took to get there.</p> <p>Johnson is not a multi-multi millionaire by accident. In 1979, she and her husband Robert Johnson created the television channel BET in order to provide a crucial outlet for African American voices in media. They knew exactly what they could offer, and they worked hard to create an excellent proposal in order to secure the funding they needed. They were also lucky to jump on the growth of television programming in the late '70s and early '80s. BET grew to the point where the Johnsons sold the channel in 2001 for $2.4 billion.</p> <p>Johnson makes it clear that there is no such thing as overnight success. You need to have a plan, you need to time things right, and you need to be able to persuade people to invest in you.</p> <h2>6. &quot;Did we ever plan on being billionaires? No, but we wanted to be millionaires.&quot; &mdash; Diane Hendricks</h2> <p>With a net worth of $4.9 billion, Diane Hendricks is the richest self-made woman in America. She and her husband Ken Hendricks created the Wisconsin-based ABC Supply Co. in 1982, which sells roofing, windows, gutters, and siding for residential and commercial buildings.</p> <p>Their success is all the more impressive considering the fact that Ken was a high school dropout and Diane only completed a high school education. The husband-and-wife team built their empire through hard work, financial savvy, and a shared vision. They both wanted to be millionaires and aimed their sights at that impressive goal.</p> <p>The fact that they were both on the same page in terms of growing their business, along with their lofty goals for their finances, eventually made them billionaires. They did not shy away from wanting financial success, so they were always ready to pounce when opportunities presented themselves.</p> <p>If you hope to emulate the Hendrickses, you would do well to partner with someone who shares your same goals and work ethic. Your level of success just might surprise you.</p> <h2>Heeding the words of wise women</h2> <p>The rags-to-riches stories of self-made women can offer incredible insight, hope, and inspiration to anyone who dreams of a successful life. Their words make it clear that opportunities are available to anyone, provided you have the drive, the mindset, the gratitude, and the audacity to chase your dreams.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/6-inspiring-quotes-about-money-from-successful-women">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/these-10-money-podcasts-will-help-you-save-tons">These 10 Money Podcasts Will Help You Save Tons</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke">How to Think Like a Billionaire When You’re Broke</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-can-learn-from-gilmore-girls">6 Money Lessons We Can Learn From &quot;Gilmore Girls&quot;</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-an-olympian-to-master-your-money">How to Think Like an Olympian to Master Your Money</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Entertainment advice celebrities empowerment entrepreneurship females financial gurus inspiration money quotes savvy success women Mon, 08 May 2017 08:00:12 +0000 Emily Guy Birken 1940410 at http://www.wisebread.com The Only Money Advice You'll Actually Listen To http://www.wisebread.com/the-only-money-advice-youll-actually-listen-to <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-only-money-advice-youll-actually-listen-to" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-538595650.jpg" alt="Woman hearing the only money advice she&#039;ll listen to" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Financial advice is not a one-size-fits all thing. Certain money tips &mdash; even those you read on this site &mdash; just won't apply to you. Don't get disheartened if this is the case. The trick is finding advice that you can directly implement in your own unique life circumstances. That's the advice you'll listen to, use, and benefit from the most.</p> <p>How do you go about finding this best advice?</p> <h2>Advice that suits your lifestyle</h2> <p>Whatever financial advice you take has to align with your priorities, interests, and how you want to live. Otherwise, it probably won't work.</p> <p>If you're a die-hard foodie, for example, trying to follow money advice that says you should cut out all food indulgences probably feels like torture. Or, how often do you hear money pros advise you to eliminate your morning latte? If you're a coffee lover, that often-touted tip is probably a total turnoff.</p> <p>That's not an excuse to completely disregard anything you don't want to hear &mdash; you may be able to sacrifice more of those splurges than you realize at first. But you'll need to tailor the advice to fit in at least some of those things most important to you, or you won't follow it at all.</p> <p>The same thing applies to your general lifestyle, too. For instance, there are a number of financial gurus out there who advocate a cash budget system. My husband and I have read all of this. We understand why cash works, how you're likely to spend less if you have to hand over paper, and how the system has saved people's financial lives.</p> <p>But the advice just doesn't work for us. We don't have easy access to a fee-free ATM or a bank branch. We don't like carrying cash or having it around the house. We choose our credit cards consciously, based on benefits.</p> <p>So, we don't take that advice. We know it won't work for us, so we don't waste our time trying to force it. On the other hand, we always use our credit cards responsibly and pay them off each month, because that does work for the life we live. (See also: <a href="http://www.wisebread.com/5-simple-ways-to-never-make-a-late-credit-card-payment?ref=seealso" target="_blank">5 Simple Ways to Never Make a Late Credit Card Payment</a>)</p> <h2>Advice from a person you can respect</h2> <p>It doesn't matter how sound the advice is. If you can't respect the person giving it, you won't follow it.</p> <p>When you're looking for someone to listen to about money, don't just look at what they say &mdash; look at who they are. At the very least, make sure the person seems to have integrity, that they practice what they preach, and that they are well respected within their community.</p> <p>Your best friend may be a great person, but if she's always in debt, she's probably not the best person to give you savings suggestions. Relatives may have their own agendas and biases that make their advice unsound for you.</p> <p>Although professionals aren't infallible, they are disinterested parties that can usually give you objective advice. If it's a professional whose advice you read or hear about in the media, make sure they've got adequate credentials &mdash; either they've had personal experience in the subject they're talking about, or better yet, they have certifications that show they've studied the subject intensively.</p> <p>If it's a professional you pay, those certifications are even more important. And be sure to understand how they're being compensated (are they fee-only, or commission-based?) so you know whether they are being financially swayed by anything other than your best interest. (See also: <a href="http://www.wisebread.com/who-to-hire-a-financial-planner-or-a-financial-adviser?ref=seealso" target="_blank">Who to Hire: Financial Planner or Financial Adviser?</a>)</p> <h2>Advice in the right media format</h2> <p>Financial advice is available in almost every medium, so choose the one that's easiest for you to digest. After all, you have to understand and implement the advice in order for it to be valuable.</p> <p>Some people like their financial advice in bite-sized snippets. If this is you, read a blog or website that features easy-to-read articles about money. If you prefer reading longer arguments and counterarguments, find a personal finance book.</p> <p>Maybe you don't like to read at all, but would instead rather watch or listen. No problem: Check out a podcast or browse YouTube. Trust me, what you need is out there, you just have to search for it. (See also: <a href="http://www.wisebread.com/the-8-classic-personal-finance-books-you-must-read?ref=seealso" target="_blank">The 8 Classic Personal Finance Books You Must Read</a>)</p> <h2>Advice that's memorable</h2> <p>Financial advice doesn't just need to be a good fit for you &mdash; it also has to be something you can easily remember and use on the fly. If it doesn't stick in your brain, it's not going to help you with your finances. You'll forget you ever read or heard it, and go right back to your old money ways.</p> <p>What makes advice memorable depends on &mdash; you guessed it &mdash; you. Do you like humor? Find some advice that's doled out with wit. Prefer deep thought? Find a financial philosopher. Like facts and figures? There are analysts and advisers who will run those numbers for you.</p> <p>Trust me: There is solid financial advice out there for you that fits your preferences and lifestyle. You just have to find it.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/sarah-winfrey">Sarah Winfrey</a> of <a href="http://www.wisebread.com/the-only-money-advice-youll-actually-listen-to">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-financial-basics-every-new-grad-should-know">The Financial Basics Every New Grad Should Know</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-improve-your-finances-using-social-media">How to Improve Your Finances Using Social Media</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke">How to Think Like a Billionaire When You’re Broke</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-of-the-coolest-sayings-about-saving">10 of the Coolest Sayings About Saving</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/its-the-21st-century-why-is-your-money-stuck-in-the-20th">It&#039;s the 21st Century — Why Is Your Money Stuck in the 20th?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Lifestyle advice advisers blogs books effectiveness saving money tips Tue, 02 May 2017 09:00:09 +0000 Sarah Winfrey 1938307 at http://www.wisebread.com 11 Ways College Grads Can Get Ahead in the Job Hunt http://www.wisebread.com/11-ways-college-grads-can-get-ahead-in-the-job-hunt <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/11-ways-college-grads-can-get-ahead-in-the-job-hunt" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-476073295.jpg" alt="College grad learning how to get ahead on the job hunt" title="" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>It's a dog-eat-dog post-college world out there for new grads. It was when I graduated in 2003, and I hear the same grumblings today from next-gens looking for work.</p> <p>While I can't promise that any of my advice will get you hired, I can ensure that it'll at least help you get your professional endeavors off on the right foot. As such, consider these ways to get ahead in the job hunt.</p> <h2>1. Explore entrepreneurship while you're still in school</h2> <p>Entrepreneurship isn't for everyone, but I do recommend it to everyone. I started my first business while I was still in college, which eventually evolved into a successful media business. That has, in turn, provided me with the financial and recreational freedom to pursue other interests and revenue streams.</p> <p>More than that, though, trying to become your own boss at a young(ish) age, even if you don't quite know what you're doing yet, will never be considered a failure. At the very least, you'll gain skills than can help you in future prospects, learn how to interact with customers, and make connections networking with other professionals. This will give you a major edge over your contemporaries.</p> <h2>2. Volunteer to enhance work ethic and build references</h2> <p>Volunteering, especially right after college, looks great on a resume because it lets an employer know that you're committed to a cause. It's not just about listing the noble charities to which you've given your time, but rather how you turned these opportunities into in-the-field, ethic-building ventures. The experience will undoubtedly help you make contacts and build references who will sing your praises when called upon. Of course, seeing the world, meeting and helping people, and gaining a sense of purpose and self are pretty cool, too.</p> <h2>3. Pursue internships to gain industry experience</h2> <p>I held two internships at a time in college because I knew I wanted to work in media, specifically journalism. Unfortunately for me, I fell in love with a college that didn't offer a journalism major, and that meant I had to make up the difference &mdash; big time.</p> <p>One of my internships was writing news for an ABC-affiliated AM news-radio station, while the other was writing about music for a local magazine. Each of these internships provided me with vastly different skills, but they both prepared me for applying to my first paid writing positions. I went into those jobs better prepared, perhaps, than other candidates.</p> <p>Alexis Chateau, founder and managing partner of her own eponymous public relations firm, credits internship for her success. In addition to the internship, she suggests taking on spec assignments for free to show potential employers what you've got.</p> <p>&quot;College students should take on pro-bono work, to build their portfolio, if they work in an area that requires it,&quot; she says. &quot;An impressive portfolio can open up almost any door in business.&quot;</p> <p>I can personally vouch for this tactic. When I started my journalism career, I wrote many articles for free just to get published. When I had enough clips that showed that I was a capable and cognizant writer, editors responded in kind by hiring me for work.</p> <h2>4. Connect with prospective companies online</h2> <p>If there are particular companies at which you're interested in working, follow them online so you can get a better idea of what they're all about. When you go into an interview with something smart and relevant to say about the company, you won't go unnoticed by the interviewer.</p> <p>&quot;These days, smart companies are using their social media to have a dialogue with the public, and this dialogue is a great way for people to figure out a company's core values, their mission, and the language they use in order to connect with them, and present yourself as an ideal candidate,&quot; explains Carlota Zimmerman, a New York-based career coach and success strategist.</p> <p>Zimmerman suggests also liking the company's Facebook page, as someone through the grapevine may notice and reach out. It may not be that easy, but any potential connection is a valuable connection.</p> <h2>5. Clean up your social media</h2> <p>This is the digital age, when everyone and their mother has a social media presence. Chances are, if you're fresh out of college, you've got a few things floating around your Facebook or Instagram account that may not paint the prettiest picture of you to an employer. And believe me, your prospective employers will be looking.</p> <p>Before you even send out your resume, do a deep clean of all of your social media accounts. Scrub embarrassing posts, delete or untag yourself from unflattering photos, and double check your privacy settings. Then, view your profile publicly to see what information is still accessible. A tedious process? Yes, but so is unemployment. (See also: <a href="http://www.wisebread.com/7-easy-ways-to-clean-up-your-image-on-social-media?ref=seealso" target="_blank">7 Easy Ways to Clean Up Your Image on Social Media</a>)</p> <h2>6. Tap into your personal network for professional tips</h2> <p>Nearly every single adult you know is a professional with years of experience in their field. Some of them have had the same jobs forever, and some of them have changed careers frequently. No matter the case, these folks can be helpful not only in the advice they can provide, but they may also be able to point you in the right direction of employment.</p> <p>Kristine Thorndyke, who landed a full-time gig in Los Angeles before she graduated, offers advice on how to apply this principle within your own college community.</p> <p>&quot;Join a club or school committee based around a particular skill or interest you intend on pursuing in the future,&quot; she says. &quot;For example, if you are a business major, see if there are any groups or committees that meet up or, oftentimes, a designated business fraternity. These kinds of groups usually have access to professionals in the field you intend on pursuing and can help coordinate meet and greets with these professionals or alumni.&quot;</p> <h2>7. Take advantage of your school's career services resources</h2> <p>When I was looking for a job in Manhattan, I was willing to take all the help I could get. Enter Career Services at my alma mater. These centers provides free resources that not only help students write proper resumes, but also facilitate conversations between alumni and new grads based on field of interest, skill level, and more. My own Career Services connected me with the right people so I could start putting out feelers and getting a handle on what my options were.</p> <p>&quot;Reach out to alumni from your school and ask them out for a coffee to 'pick their brain,'&quot; Thorndyke suggests. &quot;Oftentimes, this alumni has connections or ties to companies that are hiring and will be impressed that you were driven enough to meet and learn more about the kind of work they do and their insight and/or suggestions for you.&quot;</p> <h2>8. Practice how to give a good interview from start to finish</h2> <p>Interviewing for a job is an art form. There are a million things that go into giving a great one, from how you dress to your follow-up thank-yous. As with everything else, of course, practice makes perfect &mdash; and you have ample time to hone your skills since, ya know, you're currently unemployed. (See also: <a href="http://www.wisebread.com/how-to-answer-23-of-the-most-common-interview-questions?ref=seealso" target="_blank">How to Answer 23 of the Most Common Interview Questions</a>)</p> <p>Thorndyke advises, &quot;Interview with a professional career counselor. It's the best way to figure out how to most effectively convey your thoughts and accomplishments before the big interview. Oftentimes, it's difficult to get any honest feedback from HR or interviewers about notes on your qualifications or interviewing ability from a gig you were declined an offer from.&quot;</p> <p>An interview counselor can point out where you need to improve before the rejections become a trend.</p> <h2>9. Learn how to write a resume that will get you noticed</h2> <p>First, let's start with the number one thing you shouldn't do with your resume: Do not send the same one to every job prospect, regardless of industry or field. Your resume should be specifically tailored to the job you're seeking. If that means changing it 57 times a week to make sure it's relevant to each prospect, that's what you need to do. Secondly, it needs to stand out. There are lots of ways you can do that, but the highest on the list is providing details about past accomplishments opposed to generic lines like, &quot;Provided marketing assistance to the director of sales.&quot; (See also: <a href="http://www.wisebread.com/10-resume-mistakes-that-will-hurt-your-job-search?ref=seealso" target="_blank">10 Resume Mistakes That Will Hurt Your Job Search</a>)</p> <p>You know what HR people do when they read resumes full of bland descriptors? They slam dunk it into the circular file and move on to the next one.</p> <h2>10. Put your GPA on your resume</h2> <p>Maybe I've been out of college for too long, but I don't remember including my GPA on my resume &mdash; or anybody ever suggesting I do so. But Chris Kolmar, co-founder of Zappia.com, makes a good point about adopting the practice, at least for the first couple years after graduation.</p> <p>His logic?</p> <p>&quot;Any good hiring manager will ask for it because it's a decent predictor of success right of out college,&quot; he says.</p> <p>Not gospel, but it certainly won't hurt.</p> <h2>11. Start your job hunt months before graduation</h2> <p>Looking for a job well before you graduate doesn't always work, but getting a head start never hurts.</p> <p>&quot;I secured a job in public relations three days before graduation because of this,&quot; explains Alyssa Pallotti, an account supervisor at Montner Tech PR in Connecticut. &quot;I began applying, participating in phone interviews, and meeting potential employers in person as early as the beginning of my final semester. This allowed me to tweak my resume, cover letters, and interview style based on feedback from those companies. Therefore, my overall presentation and nerves were refined by the time I was actually eligible to take on a position.&quot;</p> <p>Yes, job hunting takes work &mdash; and that can be an overwhelming prospect when you're still dealing with school &mdash; but don't put this off. It could potentially save you months of job-hunt headaches.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/mikey-rox">Mikey Rox</a> of <a href="http://www.wisebread.com/11-ways-college-grads-can-get-ahead-in-the-job-hunt">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-things-you-should-never-include-in-your-cover-letter">7 Things You Should Never Include in Your Cover Letter</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-keep-your-job-search-a-secret">How to Keep Your Job Search a Secret</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-ask-for-your-old-job-back-after-leaving">How to Ask for Your Old Job Back After Leaving</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-land-the-job-when-youre-overqualified">How to Land the Job When You&#039;re Overqualified</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-proper-ways-to-discuss-salary-in-a-job-interview">The Proper Ways to Discuss Salary in a Job Interview</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Job Hunting advice career college grads internships interviewing looking for work networking new grads resumes tips Mon, 24 Apr 2017 08:30:13 +0000 Mikey Rox 1931722 at http://www.wisebread.com 7 Lessons From Tax Day to Remember for Next Year http://www.wisebread.com/7-lessons-from-tax-day-to-remember-for-next-year <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/7-lessons-from-tax-day-to-remember-for-next-year" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-546177866.jpg" alt="Woman learning tax lessons she should&#039;ve learned this week" title="" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>Cue the sigh of relief: Another tax season has come and gone. Before you kick back and relax, though, take a little moment of self-reflection. Did Tax Day make your stress levels soar?</p> <p>If the answer is yes, it's time to brush up on a few key lessons to take with you into the 2017 tax year. We guarantee you'll be breathing a little easier come next April.</p> <h2>1. Keep track of all your income</h2> <p>Specifically, don't forget about taxes you'll need to pay on any income you earn during the year outside of a full-time job. This includes money from freelance work or self-employment, dividends on investments, interest payments, and even gambling winnings. Be sure to track all of this income so that you're not surprised by a tax bill later.</p> <h2>2. Save all of your paperwork</h2> <p>Make sure you keep careful track of any forms and paperwork necessary to file your taxes. This includes your W-2 or any 1099s, as well as documents from banks, investment firms, and your mortgage company. These forms are usually sent out in February.</p> <p>More immediately, if you make any contributions to charity, you'll need the documentation. If you own a small business, you'll need receipts for all expenses you plan to deduct. If you plan to seek deductions for any unreimbursed medical expenses, you'll need a bill from your health care provider. All of these are important in order to enter accurate information on your tax return. As you gather them throughout the year, set them aside in a file or box that you keep in a safe place.</p> <h2>3. Deductions and credits are your friends</h2> <p>A credit is a straight reduction in your tax bill. A deduction means you reduce the amount of your income that is taxable. Either way, these tax breaks should not be overlooked.</p> <p>You can get a tax credit for having a kid. You can get a tax deduction if you pay interest on your mortgage. You can get a tax deduction for charitable donations. There are even deductions and credits for using energy-efficient appliances or driving a hybrid car. The list of possible deductions and tax credits is massive, and chances are, you qualify for at least a few. Most tax preparers and tax preparation programs will walk you through these deductions and credits to make sure you're getting the maximum benefit. If you haven't paid much attention to potential tax deductions or credits in the past, however, make sure you start this year. It could save you significant money.</p> <h2>4. Understand how tax-advantaged investment accounts differ</h2> <p>In addition to claiming tax credits and deductions, you can reduce your tax bill in advance simply by saving for retirement. If you use a 401(k), traditional IRA, or Roth IRA to build your nest egg, there are considerable tax advantages, and you need to understand the main differences.</p> <p>With a 401(k) and traditional IRA, any money you contribute to your account throughout the year will be deducted from your taxable income now. In some cases, this could move you into a lower tax bracket and save you considerable money on this year's tax bill. With a Roth IRA, money you contribute is taxed now, but you will not have to pay taxes on any investment gains when you withdraw the money at retirement.</p> <h2>5. If you are getting a big return, that's not a good thing</h2> <p>Getting money back on your taxes is certainly better than owing so much to the IRS that you pay a penalty. But if you are getting a considerable amount back after filing your return, you may have had too much taken out of your paycheck and overpaid taxes throughout the year. So in a sense, the government has been holding onto your money interest-free for no reason when you could have been using it for yourself. To make sure this doesn't happen again, ask your employer for a new W-4 and increase the number of exemptions you claim.</p> <h2>6. If you make a mistake, you can amend your return</h2> <p>Tax time can be nerve wracking because people are petrified of making a mistake and having the IRS come after them. But the actual chances of the government knocking on your door are quite low. The IRS simply does not have the staff to audit many individuals, and when they do, they usually target either very wealthy people or people with very complicated tax returns.</p> <p>If you do discover that you made a mistake, you can file an amended return without much hassle. Simply file Form 1040X, Amended Tax Return, along with the corrected (or missing) documents you did not originally file with your return. This happened to me once when I forgot to report some dividend income, and I never had the taxman knock on my door. (See also: <a href="http://www.wisebread.com/the-easiest-way-to-avoid-a-tax-audit?ref=seealso" target="_blank">The Easiest Way to Avoid a Tax Audit</a>)</p> <h2>7. Use your taxes as a learning opportunity</h2> <p>Even with all these lessons under your belt, tax time can still be a tedious and stressful time of year. When all else fails, change your perspective. I personally find the process of doing taxes to be fairly educational. You can see a clear picture of how much money you actually took in during the year, and how much the government takes. The process of finding deductions can be a learning experience as well. If you approach doing your taxes with an attitude of curiosity, you may find the whole process to be less painful.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/tim-lemke">Tim Lemke</a> of <a href="http://www.wisebread.com/7-lessons-from-tax-day-to-remember-for-next-year">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-common-tax-mistakes-we-need-to-stop-making">5 Common Tax Mistakes We Need to Stop Making</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-7-most-common-tax-questions-for-beginners-answered">The 7 Most Common Tax Questions for Beginners, Answered</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-easiest-way-to-avoid-a-tax-audit">The Easiest Way to Avoid a Tax Audit</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/101-tax-deductions-for-bloggers-and-freelancers">101 Tax deductions for bloggers and freelancers</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/what-to-do-when-your-tax-preparer-makes-a-mistake">What to Do When Your Tax Preparer Makes a Mistake</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Taxes advice audits credits deductions forms income investing IRS tax lessons tax returns w-2 Fri, 21 Apr 2017 08:00:10 +0000 Tim Lemke 1931721 at http://www.wisebread.com Score Your Dream Home With the Perfect Offer Letter http://www.wisebread.com/score-your-dream-home-with-the-perfect-offer-letter <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/score-your-dream-home-with-the-perfect-offer-letter" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-639309248.jpg" alt="Couple scoring dream home with perfect offer letter" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>In a hypercompetitive housing market, buyers need to seize every advantage possible. In addition to a strong credit score, loan preapproval, and reasonable offer, a well-crafted offer letter can tip the scales in your favor. If you've found your dream home but are facing some stiff competition, it's time to put pen to paper. Here are eight tricks to writing the perfect offer letter.</p> <h2>1. Write it yourself</h2> <p>Don't delegate this one. Your offer letter should be penned by you, not your real estate agent. As a prospective buyer, it's up to you to connect emotionally with the seller and authentically express why you're drawn to the property.</p> <h2>2. Explain your interest</h2> <p>Details matter. Writing that you &quot;simply love the house&quot; is a good start, but it won't get the job done. What about the home appeals to you? Is it the gleaming hardwood floors? The big front porch? The way the sun shines through a stained-glass window? Including a few well-considered details accomplishes two things: First, it flatters the seller (as he or she may be responsible for many of the features you're drawn to). Second, it establishes a sense of shared appreciation and implies that you're well-suited to be the home's new steward.</p> <h2>3. Put your heart into it</h2> <p>Selling a house isn't just a business transaction; it's an emotional one. For sellers who've owned their home for decades, leaving may be bittersweet. Make it easier for them by tapping into the emotional side of your story. Discuss why you think the home is perfect for your family and what memories you hope to make within those walls.</p> <h2>4. Be cheery, not dreary</h2> <p>Though adding a bit of emotion to your offer letter is helpful, keep the emotions positive. Referring to a divorce, long-term illness, or the death of a loved one can cast a shadow over the transaction. Make the tone of your letter hopeful and joyful.</p> <h2>5. Skip the remodeling plans</h2> <p>Since sellers are understandably attached to their homes, avoid phrases like &quot;rip out,&quot; &quot;total gut job,&quot; and &quot;down to the studs&quot; in your letter. While remodeling may be part of you plans, focus on what you love about the home right now &mdash; not your vision to redo it.</p> <h2>6. Give buyers something to bank on</h2> <p>Remember, your offer letter is your moment to shine in every way possible. Show that you can make good on your offer without unnecessary delays and drama. Along with your loan approval documentation, briefly discuss what you do for a living, how established you are in your career, and the strength of your credit score. (See also: <a href="http://www.wisebread.com/everything-a-first-time-home-buyer-needs-to-buy-a-house?ref=seealso" target="_blank">Everything a First-Time Home Buyer Needs to Buy a House</a>)</p> <h2>7. Don't rush</h2> <p>Your offer letter is an important document that can save you thousands of dollars and months of continued house-hunting. Though you may not have the luxury of time in a hot market, write the best letter possible. Consider your approach carefully, write simply and sincerely, and proofread thoroughly to catch any spelling and grammar mistakes.</p> <h2>8. End with a thank you</h2> <p>Your mom was right &mdash; a simple thank you can work wonders. Wrap things up with a humble and heartfelt &quot;thank you for the opportunity to view and bid on your beautiful home.&quot;</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/kentin-waits">Kentin Waits</a> of <a href="http://www.wisebread.com/score-your-dream-home-with-the-perfect-offer-letter">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-ways-to-buy-a-house-without-a-mortgage">4 Ways to Buy a House Without a Mortgage</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-reasons-a-home-sale-could-fall-through">5 Reasons a Home Sale Could Fall Through</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/sell-your-house-faster-with-these-6-house-flipping-tricks">Sell Your House Faster With These 6 House Flipping Tricks</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-reasons-you-should-always-hire-a-moving-company">6 Reasons You Should Always Hire a Moving Company</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/growin-home-how-much-house-do-you-really-need">Growin&#039; Home: How Much House Do You Really Need?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Real Estate and Housing advice buyers home buying new house offer letters sellers writing Thu, 20 Apr 2017 09:00:07 +0000 Kentin Waits 1930341 at http://www.wisebread.com