The secret to finance? Pay attention. Seriously, that seems to pretty much cover it if you’re willing to act according to your observations. For instance, take this article I just stumbled across. If millennials are just willing to pay attention (and adhere) to their budget, they will put away enough money to become a millionaire on retirement. For more information, please proceed to aforementioned article.
American spending habits are being increasingly questioned as the saving rates of many citizens continue to plummet. In fact, the St. Louis Federal Reserve releases data every month on personal household savings rates. In 7/2016, the savings was a measly 5.7%. To put that into perspective, the rate just 50 years ago was literally double that.
Just as well, the vast majority of other industrialized nations have a higher personal savings rate than the United States of America. Considering the standard quality of life in America is significantly higher than many other developed nations, there is a clear disconnect between how much Americans are making and how much they’re spending. In this vein, it has come to light that although Americans should be saving between 10 and 15% of their annual income as a rule of thumb, an astounding 7/10 Americans have less than $1,000 in savings.
This sort of savings illiteracy is only becoming more pervasive and more impactful. Thus, we need to take a stand and reverse the trend. In order to do so, here are several helpful hints for living a financially responsible life:
Use the internet for budgeting—throw paper to the wind:
In recent years, the technological boom has molded nearly aspect of society, budgeting tools included. There is an abundance of free online tools men and women can use to plan their budgets, see where they can save, and form an easy-to-adhere-to savings plan. Generally, it comes up with a dollar figure based on the dollar amount you earn or the percentage of earned income you want to put away. In just a half hour, you could have the financial plan that will bring stability back into to your life.
Associate with other fiscally responsible individuals.
Jim Rohn said we are the average of the five people we spend the most time with, and our finances are certainly not excluded from this broad but accurate analysis. If your friends and family are also trying to put away money and are also invested in their own fiscal well-being, then you, by extension, will be more likely to save successfully.
To this end, if you live alone, I suggest meeting up with a group of others who are striving to save some cash. This way your goal becomes more attainable and you are able to witness others gain the budgetary discipline you want, which makes it more realistic, and thus, more achievable.
S.M.A.R.T. stands for:
Saving money is difficult, and it’s nearly impossible without having the proper goals in purpose. They need to be objective so you can hold yourself accountable, and the only way your budgeting goals can be objective is if they’re quantified and adhere to the above parameters.
Remember—the only person who suffers from a lack of savings is you. Take care of your future self the way you deserve.
As Millennials continue to flood the market with increased education rates, more marketable skills, and more experience than ever before, the competition to land a job increases as well. At times, it can seem insurmountable for those just breaking into the market for the first time. However, what these first-timers often fail to properly depict is the most fundamental part of their application: their resume. The first signifier of an applicant, the resume, plays a role of the utmost significance in getting your foot in the door of the job you want. Yet, how do you write a killer resume? How do you appear professional but sociable? Relatable but experienced? Well, you could hire an expert for an immense sum of money, or you could follow some of these quick and easy tips to stand up, stand out, and get the job:
Don’t generalize your resume.
Be specific. The vast majority of applicants draft a resume they feel will be applicable to many markets because they are unwilling to draft specific resumes for specific jobs. From a more experienced perspective, however, this is a neglectful decision that could very well cost you the job. If you orient your resume for the particular job you are looking at, you are far more likely to stand out relative to other applicants. Take that extra time and customize your resume for the job you want. Employers will notice the nuanced details that establish you as the more credible applicant, and they will be more likely to get in touch with you to advance the interview process.
Be brief. Brevity is power.
In this regard, I am not necessarily saying that there is one key length you should model. Rather, I am merely advocating that you pay attention to the length of your resume. In no circumstance should it extend beyond two pages, and if it goes beyond one page, there should be a good reason, such as vital relevant experience that distinguishes you from the rest of the pool of applicants. Also, ensure that you are highlighting your strengths! Employers have to be told why they want you, and your resume is the first way to do so.
Make your Resume Tell a Story.
Your resume should tell a story. It should be easy to follow, letting an employer look at one job and understand how you ended up where you are today. There should be a clear example of professional development that not only elaborates on your work history and emphasizes your strengths, but also enables employers to see you at their company as the ending to your resume.
Resumes can be very difficult to formulate. Remaining brief while engaging and informative all at the same time is no easy feat, but if you incorporate the above tips, you should be well on your way to not just getting the interview—but getting the job. Good luck!