This January, you may be focused on getting your bod in shape. Why not take a few minutes to focus on building up your money -- and your life? Take a look at these 10 ways to build efficiency, and promise yourself you'll act on at least one today.
1. Create a Personal Plan. I do it every year: I sit down and think about what I want to accomplish professionally (try to get my finances in order), personally (get the kitchen re-done) and socially (who doesn't want to have more friends, right?). It's a great way to spend time on what matters: you. This doesn't have to be some long document. Come up with no more than three goals for each category I've mentioned, then turn to it when you start to lose focus.
2. Pay Yourself First. Women still outlive men by about seven years, and did you know the average age of widowhood is 57? Yikes. That means we need to put money aside for us before paying for anything else, including the bills. Make it a regular habit, and you'll feel more confident both financially and within. Don't come up with an excuse; just do it. Even if it's $50 a week, it will add up. I know you can do it.
3. Turn Your Passion into Profits. Who wouldn't want to take a passion for shopping and turn it into money? Or how about your love of clothes or even tech gadgets? I wish someone had taught me years ago to turn what I know into stock ideas. Think about this: What if you'd bought a cool pair of running shoes from a new company in 1978, then invested in that company when it went public in 1980? I'm talking about Nike, and you'd be doing pretty well these days. Make the connection between the products you use and the stock market, and your investing will do much better.
4. Divide & Conquer. I look at the way my husband and I share responsibilities in the house and with our money, and it really works. We've clearly divided up key responsibilities like bill paying (him) and investing (me). And when other things come up, we divide and conquer -- whether it's fixing the faucet or getting a better mortgage rate. Make sure you both talk about money -- a lot -- and never, ever hide things from your loved one. It's the beginning of the end.
5. Mind the Store. If there's one lesson to learn about money, it's that we have to take personal responsibility. I know it's easy to lay back and think your money is in good hands. But I've heard of too many horror stories to not insist that you take an active interest in your investments. So make sure you know what any professional is doing and don't be afraid to ask the tough questions. That's why you pay them.
6. Chuck the Junk. I spent my entire holiday vacation getting organized for the New Year. Closets. Garage. You name it. It felt great. Studies show that 81 percent of couples fight about junk. So, hopefully, less junk means more space at home, less "stuff" to worry about, and a better relationship. By the way, you could sell it on eBay or Craigslist or at your local consignment store and generate a few bucks to put to work.
7. Increase Your Worth on the Job. Too many jobs will be lost in the coming year. Make yourself stand out so you're the last to get a pink slip. Focus on what matters, the big stuff. Demonstrate your impact on the company's bottom line. And make sure decision-makers know it. Also, consider volunteering for cross-company programs to make new relationships and build allies.
8. Learn to Say "No." This is not a time to be lending money to boyfriends or taking on debt that can really set you back. Learn to say no, simply, calmly and powerfully. If in doubt, kick it out.
9. Turn Rejection into Opportunity. Think about salespeople. They face rejection 90 percent of the time, and so will you (I have). I devote an entire chapter about this topic in my book, "The Millionaire Zone." Every time you face rejection, ask how you can turn the moment into an opportunity: Could the person share some useful information, become an advisor, or introduce you to someone? Isn't that, alone, worth a lot? Don't let rejection stand in your way of moving forward.
10. Stay in Your Power. Never, ever let someone take your power away from you. I know how tough it can be if you get criticized, lose a job or maybe get turned away by a guy. The best piece of advice I have is to stand tall and stay in your power. Know who you are. Draw from your strengths. And show your best stuff. That, my friends, is what can take you anywhere you want to go in 2009.
Jennifer Openshaw is co-founder and president of WeSeed.com, a new approach to demystifying the stock market for real everyday people. Openshaw is and author of "The Millionaire Zone." You can reach her at jopenshaw@themillionairezone.com.
The views expressed here are those of the author and do not necessarily reflect the positions of LendingTree, LLC.
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