There's a better way to quit than simply giving your two weeks notice. Check out this article for advice about to quit well, in a way that builds bridges rather than burning them.
Who's the best quitter you've ever worked wtih? What did they do that made them stand out?
You dread Monday mornings, but you’re not sure what you’d want to do instead. Design sounds interesting but you know nothing about it or if there’s any way you could make a career shift anyway. You just know that your company’s internal tools are driving you insane. It can’t be that hard to make tools that actually work, right?
Believe it or not, that’s a great place to start! You have genunine curiosity and a clearly defined question: you want to learn what it’s really like to be a designer. That’s more than enough to have an engaging, productive conversation. And you probably know someone who knows someone who’s a designer who will give you 15 minutes of their time.
Here’s where to start the next time you’re curious about an unfamiliar role or industry.
Follow your curiosity
Even though you’ve never been a designer, you already know a lot about design. You know that sometimes products just work, and sometimes they really don’t. You’ve probably noticed that even large companies with tons of money can make terrible products and small start-ups with almost no cash sometimes can launch brilliant, innovative products. So what does it take to make a really, really good product? What are the most common barriers that get in the way? You might also ask the designer to tell you about a time that things went really well. What happened and why? How did they know that things went well?
What are the biggest challenges in your role?
This is a much easier question to answer than “Tell me what you do” or “What does a typical day look like?” Who has a typical day? Often you’re juggling multiple projects or clients at once, and likely there’s a lifecycle to each that varies day to day. If you really want to get a sense of a typical day/week/month you can follow up by asking roughly how much time they dedicate to each of these challenges.
While this question is a great starting place, it’s probably not a question you want to ask when you’re actually trying to get hired. The beauty of the question though is that the next time you talk to a professional in this field you can ask much more relevant, specific questions. For example, as I was exploring moving from HR into Sales several people mentioned that one of the big challenges was the relationship with the media agencies. Getting them on board was essential to achieving quarterly targets, but in some ways they were competitors so it was often a tense relationship. This allowed me to ask much deeper questions that both showed I understood something about the role and that gave me valuable information about if that particular team was a good fit. What was their relationship like with the client’s media agency? How had that evolved over the past year? If it’s been a rocky relationship, how have they still managed to hit their targets?
What kind of person would thrive in this role?
This question kills two birds with one stone. You get deeper insight into if you would like the role, and you learn what they are looking for when hiring for the team. You might also ask what kind of person would hate the role and see if that offers any additional insight.
One time this question steered me away from a job I think I would have hated. When I first saw the job posting I was excited because I’d heard great things about their Director. I’d actually had an informational interview with her a couple of years before and was really impressed. The job description matched my skills and experience, and it looked like an opportunity to move out of a job that wasn’t working for me. This all sounded great, until I talked to a couple of people who were already in the role. They both mentioend that the role required a lot of cat herding and influencing without authority. Initially I tried to ignore my gut feeling that this might not really be my dream job after all, but after a couple of simialr conversations I finally gave in to my intuition.
So how did it go? Given what you learned, are you more or less interested in the role?
Do you have an emergency fund? Setting aside 3-6 months worth of living expenses could be the key to enabling you to follow your passion, start a business, or care for a sick loved one. It can be the difference between living paycheck to paycheck and making your money work for you. Check out this article to find out how having an emergency fund has brought more freedom, peace, and joy for these women.
Did you know that women earn higher returns on their investments than men? A 2017 study by Fidelity found that women outperformed men by 0.4 percentage points. Over time that can really add up.
"There are a few reasons why women investors tend to outperform men. In general, women take a more hands-off approach to investing, which allows their funds to gain a better return over time.
They’re also more cautious: Statistics show that men trade their stocks 45 percent more than women do. These differences are so well-documented that there’s even a book titled “Warren Buffett Invests Like A Girl: And Why You Should, Too.”
Taussig says that in her experience, women view money as a tool that they can use to accomplish their goals, while men tend to view investment as a game to be won."
Check out the article from HerMoney to learn more!
You’re ready to start investing. Your parents insist that you should hire a professional to manage your investments but the investment books and your co-workers advocate for a DIY approach. Since financial advisors typically charge a fee of 0.5%-2% of your portfolio you’re skeptical that they’re worth it. So who’s right?
Here are three compelling reasons to hire a financial advisor to manage your investments.
Your emotions are likely to get in the way. Let’s face it. Money is emotional. It’s normal to have an emotional reaction if your portfolio quickly drops tens — or hundreds — of thousands of dollars. And if you had money in the stock market in 2008 that’s exactly what would have happened. It’s one thing to know that the right choice for your portfolio is to ride it out, but it’s another thing to actually stomach doing it. This is the #1 thing that trips up individual investors. Following the impulse of your emotions rather than best practices can cost you. A lot. A financial advisor may be worth much more than even a 2% fee if they prevent you from making bad emotionally-driven financial choices.
The trade-off of time and energy is worth it to you. How much is it worth to you to never worry about your investments? Do you enjoy reading the finance section and rebalancing your portfolio, or would you rather have more quality time with your family? It’s a lifestyle question. As you have more demands, less time, and a more complicated portfolio working with a professional makes more and more sense.
You’re looking for someone with very specific expertise. A good financial advisor spends a lot of time developing deep expertise in investments. In some areas, like socially responsible investing, it can be hard to tell which funds actually fit your values. Would you consider Google socially responsible? How about Nestle? Or an oil company? What if shareholders of that oil company are actively demanding accountability? A financial advisor can help you make choices that work for you given your specific priorities and values.
Most financial advisors require that clients have a minimum of $250k-$1M of investable assets. If any of the above points apply and you meet that minimum, start interviewing financial advisors. Ask about their investment approach and how they interact with clients. Find out if they get comission for any of the products they recommend to clients. And ensure that they are a fiduciary; that is that they have a legal obligation to act in your best interests. It may seem crazy but not all financial advisors promise to make choices that are in your best interests.
How many articles have you read that suggest millennials could buy a house if only they’d just stop splurging on avo toast? Apart from being tone deaf to the challenges many young people face from crushing student debt to soaring costs for homeownerships (especially in big cities) the math just doesn’t work out. At best you’re looking at another $2,000/yr. That’s not nothing, but it’s not anywhere near enough to afford a downpayment on a $1M “starter” apartment in SF or NYC.
Personally I love my lattes. When I go to my favorite coffee shop and buy a latte I’m getting more than my daily dose of caffeine. I get so much joy from just sitting in my local neighborhood coffee shop. Many days it’s my temporary office. Other days it’s a place for rich self care. I’m primarily buying the experience of being at the coffee shop, which is well worth $5! When it comes to everyday indulgences lattes may actually give me my biggest bang for my buck. So for me that’s not where I’m going to cut back.
The truth behind that advice is that you don’t have to save that much to make a difference. How would it feel to know that you had a full month of expenses in savings so you weren’t always living paycheck to paycheck? Thanks to compound interest if you start saving and investing when you are in your 20s that can really add up by the time you reach your 60s. Even if you need to start small you will build the habit of saving and give yourself peace of mind knowing there’s a buffer when you need it.
Here are some better ideas of how to painlessly set aside $200 (or more!) a month.
Set up an automatic transfer to savings of $200+ every month. With no additional thought or willpower you’ll be on your way to reaching your financial goals. Look for a high interest savings account. You should be able to find an account with at least 2% interest that doesn’t require you to take on any additional risk*.
Stop mindless lifestyle creep. This is a big one. When you do get the new job or a big promotion that doesn’t necessarily mean it’s time to move to a bigger apartment or buy a nicer car. Just because you make more doesn’t mean you need to spend more. Take some time to reflect on what really brings you joy. Lifestyle creep is one of the biggest culprits among high earner who are still living paycheck to paycheck. It’s not about penny pinching for the sake of penny pinching, but rather considering how your money can support your dreams, desires, and goals.
The next time you get a raise put aside your incremental income in a savings account. What you do with the extra money is up to you and could be anything from paying off your credit card debt to planning a fabulous vacation to enabling yourself to take time off from work so you can finally pursue your passion that’s been on the backburner.
If you are renting, the next time you move set your budget $200/mo lower. If you want to significantly cut your living expenses consider finding a roommate and/or moving to a different neighborhood. Housing is typically your biggest living expense so it’s also one of the simplest ways to reduce your montly expenses.
Check if you have any monthly subscriptions that you don’t enjoy or rarely use. This might include streaming entertainment, cable, clothing subscription boxes, gym memberships, etc. It is easy to set up an account and forget you’re making monthly payments even when you don’t use the service. Canceling can be an easy win.
Negotiate a lower rate or switch providers for regular expenses. This approach will require a bit more research so you know if you’re also making trade-offs in quality. You may be able to negotiate a lower bill for cable and internet by calling your provider or to reduce your auto insurance payments if you have a squeeky clean driving record. With a bit of research you may find that a less expensive health insurance plan still offers enough coverage for you. Again, be aware if you’re making any trade-offs. But there may be opportunities to reduce your expenses without even noticing the difference.
*As of May 2019. Interest rates may rise or fall in the future.
It’s that time of year again — graduation! Unfortunately for many students getting their degree doesn’t necessarily guarantee a job. And this is about the point when you’re ready to full-on panic because graduation is right around the corner and it seems like everyone else has already found their dream job. The good news is that you probably bring a lot more to the table than you think.
Your skills are not limited to your degree. Unless you studied computer science or engineering, your day-to-day work is likely to look pretty different from what you studied as a student.
Here are some skills you probably already have that employers are looking for.
Working on a team: Almost any job you choose will require you to work with other people to get things done. You’ve probably already practiced this a lot whether in group projects in your classes, in student groups you’ve been a part of, or even working with friends to organize a surprise party for a friend.
Problem solving: Have you ever had to figure out how to approach a loosely defined task? Perhaps you’ve written an essay in response to a vague prompt, put together an event for a student group, or figured out how to move past a roadblock by working with your college’s administration. This is an incredibly valuable skill. Most likely you’ll start with a loosely defined project and be responsible to figure out what’s important to focus on and how to get it done. You’ll need to break down the problem, understand the goals and how they may differ for different stakeholders, think through what it will take to execute, and then get it done.
Project management: Have you ever planned a conference, organized a dorm event, or planned a flash mob? If so, you’ve learned to how reach out to different people at the right times to get things done. You’ve learned how to figure out which pieces of the project need to get done at what time and made sure things ran smoothly through the end. You’ve probably discovered that last minute problems always come up, and found a way to solve them on the fly.
Balancing multiple projects: In many jobs you’ll be working on several projects at the same time. If you took several classes and were part of different student groups while in college, you’ve probably already developed a way to keep on top of different projects that occasionally have competing guidelines.
Learning new skills: Most employers will (or should!) understand that as a recent college graduate there will be some job-specific skills you haven’t developed yet. Many of these you can learn on the job. In college you are constantly learning new skills and picking up new ways of thinking about problems, so you’re well prepared to pick up new things on the job. Digital is quickly changing many industries and introducing new competitors so the ability to learn and adapt is more important than ever.
What else might you bring to the table?