Helene Lerner's Blog, page 82

Tips for Keeping Money Woes at Bay

Jean Chatzky, NBC's Financial Editor for the Today Show, is an expert on smart spending. Here are her tips for keeping your spending in check and your wallet happy.  

If you're saving 5% or more, you're happier. Ideally, you should be saving about 10% when you're starting out, and 15% if you're more established. If that sounds like too much for you, just increase what you're currently doing by 2%. Jean says, “Then the next time you get a raise, or when that 2% starts to feel easy, increase again by 2%. Eventually you'll get to where you need to be.”

Pay your bills as they come in. Don't put them in a pile and pay them once or twice a month. “If you pay a bill when it comes in, you'll adjust your spending for the rest of the month,” Jean advises. If you let the bills sit around, you might get halfway into the month before realizing you've gone over-budget.

Get familiar with your credit score. Your credit score affects all of your financial endeavors, so it's important to have a good one: 720 and above is the goal. You can find out yours for free by visiting savvymoney.com. If you don't like what you see, start spending less to boost your score. Jean says, “Nothing happens overnight. If you pay your bills on time and spend less of the credit you have available, your score will go up.”

Set up a time every week to go over finances. If you have a spouse or partner, have a meeting once a week to ensure that everyone is on the same page. You will feel good when all the guesswork is taken out of your finances and you’re confident that you're ahead of the game.

Information is power when it comes to money. There are tons of resources available online, like calculators to help you figure out how much to set aside for retirement, how much you should be saving, etc. One of these resources is Jean's weekly newsletter. 

For more information, visit Jean’s website.

 

How to Reduce Your Stress

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The National Institute of Occupational Safety and Health recently published a study estimating that work stress is costing employers billions of dollars a year in lost productivity, health care expenses and stress-related lawsuits, not to mention what it does to the individual. Here are three clues that could indicate your stress level is getting out of control and what to do about it:

Overwhelmed. Is there too much on your plate? Are you worried that you can't get everything done? Do you constantly look at your to-do list and wonder where to start? These signs of overwhelm could be strong indicators that your stress level is too high. Commit to delegating everything YOU don’t need to do personally. Negotiate deadlines and be willing to say NO to things that are not in alignment with your goals and objectives. 

Illness. It may start with a sniffle, a cough that won’t go away or simply feeling a bit “under the weather.”  If you find yourself taking more sick days than usual or feeling tired and run down, it's time to engage in some extreme self-care. Take the cue from your body and allow it to rest and rejuvenate (even if you don't feel like you have the time!). Practice the three tenants of self-care: eat well, move your body and get enough rest. 

Emotional. When we're stressed, we're even more quick to anger or be more emotional. If you find yourself experiencing these types of mood swings, it's time to add a little zen back in your life. Try taking a walk during the middle of the day or a short meditation break.  

Learn to recognize the signs you are under stress and commit to making the changes necessary to reduce your stress levels.

-Cornelia Shipley, Career Coach
www.corneliashipley.com

Don't Let Anyone Put You Down

Don't let anyone put you down. Be guided by a higher purpose. That is the reason you are here in the planet.

Not everyone will understand that.  And what people don't understand, they fear, so they may say things that aren't true.

Trust your intuition as you move forward and make the right choices. You know what is best. Don't listen to nay-sayers.

Be kind.

Be observant.

Be brave.

Be forceful.

Be strong.

The world needs every bit of your resourcefulness. Let your light shine. Be the change that is needed. It starts with you.

Career Coach: Welcome to May

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Hello, my name is Cornelia Shipley and I am excited to be your Career Coach for May. Over this month we will be talking about everything from evaluating promotion opportunities to increasing your personal productivity.

Since 2006, I have been working as an executive coach and strategy consultant for many of the Fortune 1000. Currently I spend most of my time preparing leaders for Senior Executive and C-Suite positions. I have a Master’s in Business Administration and have studied business processes in both Asia and Australia. My husband and I were married in 2012 and live in Atlanta, GA.

Don't have these Career Regrets

This is the final post I am writing for Women Working and I thought long and hard about what topic to tackle. I settled on a bittersweet one, a subject that I don't enjoy talking about or bringing up because it is wrapped in the undesirable word of regret. None of us want to have regrets as we grow older and look back at our lives, which our careers are a huge chunk of.

So the aim should not be to avoid taking chances or escaping risk. Our highest aim should be to avoid living a life that leads to regrets.

The beautiful spirit in us says that nothing should be a regret, that we need to look at our mistakes as lessons—I say yes to this. Having said that, you can still look back and admit to yourself that there were things you wish you had done better, and if you are doing it in the spirit of bringing awareness, clarity and better vision into your current life, then those are the best kinds of regrets. Those are the ones you uncover and learn from so that you make better, smarter and wiser decisions for yourself in the future.

In that spirit, I share my two personal regrets when I look back at my career.

First regret: I did not have enough confidence and faith in myself and I did not ask for help. I did not trust myself as a person worthy of making smart decisions or knowing what's right for me. I didn't believe in myself or see the incredible value that I would one day bring to the world. Regardless, not asking for help is the part I regret the most.
Second regret: I stayed too long in corporate roles that made me miserable. I had misplaced loyalty for the wrong reasons, and while loyalty itself is a positive trait, when you place it in the wrong situation, it can harm you. I did not know any better, and I felt that long-term loyalty would pay off even to the wrong organization. It doesn’t.

I’ve made peace with my regrets and learned invaluable lessons that have helped me build my 6-figure business and dream lifestyle—and one that I passionately teach my clients how to do for themselves. What about you? What have you learned from your regrets?

-Farnoosh Brock, Business and Career Coach, Prolific Living Inc.

The Best Thing You Can Do for Your Business

Before I quit my corporate job to become self-employed, I was terrified. I knew in my gut it was the absolute right decision for me, but I was terrified nonetheless. I tell my clients that terror—yes, not just fear but sheer terror—is a great sign because it means you care.

Having your own coach means that you are vested in your business, you are determined to succeed and you are venturing into uncharted territories which are way outside your comfort zone. Terror is a perfectly normal emotion to experience as you transition from employee to entrepreneur, even if we don't talk about it enough. 

But you shouldn’t operate on terror on a day-to-day basis, so what do you do to overcome the terror? 

That brings me to one of the best decisions I ever made in my business, even if I had to be coaxed into it due to my own initial skepticism: Hiring my first coach. 

That's right. Investing money—more than what my business was yet making—to have a trusted expert help me was the best thing I ever did for my business. Since that first coach, I have now hired four more coaches, each with a higher level of investment and commitment, and I have only continued to do this because it works. 

For me, it has meant the difference between a mediocre business and a thriving 6-figure business by having the right business coach. And the right coach will guide you along, push you outside your cushy comfort zone, hold you accountable more than your spouse or best friend could ever do, and tell you the truth—the stuff you may not want to hear, like "It seems to me you are the only one in love with your product," or "You need to call that client now. Email won't do."

In a nutshell, what coaches have done for me is to help me create the kind of success that I wasn't creating for myself, because I lacked the experience and the expertise. It was not because I wasn't the hardest working entrepreneur, but I didn't know what to work on.

Besides, as a business coach myself, I have to walk my talk. So I invest in my own coach. And that continues to make the biggest difference in my career. 

What about you? Do you have your own coach—whether you are in corporate or in your own business? And if not, have you ever thought about getting one?

-Farnoosh Brock, Business and Career Coach, Prolific Living Inc.

 

Iman Oubou on Empowering Women and her Plans for the Future

On March 29th, Iman Oubou was crowned the new Miss New York, United States 2015. This busy woman is also an entrepreneur, scientist, fashion blogger, and advocate for women’s empowerment. With her master’s degree in Biomedical Engineering, she participates in efforts to help restore proper healthcare in developing countries.

Here’s what Iman had to say about her title and plans for the future. 

You beat 19 other women for the title of Miss New York, United States. How did that feel? I am extremely grateful for being able to compete with so many beautiful and intelligent women. I feel even more blessed knowing that I now have the opportunity to represent the state of New York.

How did you train to become Miss New York, United States? Aside from the extensive fitness training and interview preparations, I focused on eliminating self-doubt and becoming clear on the end goal. I learned as a tennis player that mental toughness is important in any competition.

What is your platform and how do you hope to use your role to raise awareness? I am currently working on different projects, including my recently launched women-focused podcast where female entrepreneurs share their challenges, successes, and advice to inspire others other potential business owners.

What obstacles do you face as an entrepreneur and what are your tips for women looking to start their own business? Being an entrepreneur comes with a level of madness and uncertainty. Everyday there is a new problem to solve. Being a solopreneur is even more challenging, because I try to juggle it all. My advice for women looking to start their business is: Don’t be scared to ask for help. Outsourcing some of the work will allow you to really focus on your mission and growth.

What do you want to see for girls around the world? We need more mentorship and guidance from influential women. Girls will likely succeed if their role models take time to guide them towards making their passion their purpose in life.

Describe the strength of a woman? One of the toughest things in life is to really figure out what you stand for and what you are TRULY passionate about. Once a woman finds her passion, she is unstoppable!

Who influenced you early on? My Mother! She knew I could achieve anything I put my mind to.

What advice would you give to your younger self knowing what you know now? Don’t avoid your fears, but instead face them and go towards them. They just might guide you to your success!

Things must be very hectic between the competition, your business ventures, and maintaining a social life. How do you manage? The truth is the busier I get, the better I become at managing my time and making every hour of every day count. The trick is to stay organized and know how to prioritize.

Iman’s podcast is on iTunes, it’s called Entrepreneurs En Vogue.

 

How to Get What You Want, Every Time

I'm giving a talk at the University of Hawaii in April and I'm very excited about it. As part of this talk, which is about how you can get anything in life if you know how to communicate it well enough, I'm talking about the thing women do not enjoy doing very much: Asking for things!

Tell me, do you enjoy asking for something from your boss, spouse, or colleague, even if they owe you, even if they are indebted to you for previous favors? 

I'll guess the answer is no, you're probably not terribly comfortable asking for what you want. And I hear you, because I used to struggle with this often especially when I was at corporate. 

I used to believe that asking in general sent a message that I am needy, weak, and even demanding, and none of those are traits any powerful woman wants to be associated with. 

As a driven corporate gal, I wanted to present a strong, independent and confident front, and asking for anything seemed to—falsely mind you—contradict with that picture. 

But here's the conflict: I really wanted the stuff that I needed to ask for. I really wanted that overdue promotion that wasn't coming on its own. I really needed that raise for which I had been forgotten. I realized that nobody could read my mind if I kept silent. 

The problem is, I never learned how to ask for something the right way. It took me years to figure out this formula. Let's say you want X, where X is a shiny new promotion with a raise.

Your approach to asking for X should be:

Set up a private meeting with the person who has authority to give you X.
Speak about the benefits of X for them first and foremost, then for you.
Then explain the negative impact of not having X for both of you. 
Propose that based on what you shared, X would be a great idea for both of you.
Mutually agree on you getting X. 

This is a formula I have used and taught my clients to use when asking for something. It may take some practice to come off naturally, but this approach removes any negative feelings about asking because it shows you are focused on how it positively affects others besides yourself.

Share your thoughts about this method in the comments below.

-Farnoosh Brock, Business and Career Coach, Prolific Living Inc.

The Job Doctor on How to Deal with Change

Dealing with change can be hard. Luckily The Job Doctor has advice on how to deal with it!

SUBSCRIBE to our YouTube page for future installments. 

Video Editor: Michelle Purpura

Dare to Live Fully: Use Charisma to Get Ahead

This week, Helene speaks with Dr. Freda Lewis-Hall, chief medical officer at Pfizer, about how to lead with charisma. Freda's supportive parents saw her potential early on, and helped her develop a strong sense of confidence by encouraging her authentic self to shine through.

Here are some of the highlights from the program:

On wisdom from her parents...

Freda: My father's lesson was “Believe in yourself.” He was truly committed to the notion that everyone has a gift, they just need to realize it and live it. My mother was a tremendous believer in truth and giving good feedback. She believed that compassionate honesty, not brutal honesty, was the way to help people grow. 

On being fearless…

Freda: Sometimes people say, "Be fearless." I'm not sure I've ever been fearless, I've been fearful but determined, often. For me, that's what confidence is. It's okay to be fearful, as long as you take a step forward.

On opening up…

Helene: In being authentic, you have the ability to build strong bonds. I used to be afraid of how people would respond to me, but by sharing myself truthfully, they connected with me more. If you can make a difference by being authentic, do it.

On moving through challenges…

Helene: What I've learned in my life is to reach out for support when you’re undergoing big challenges. In looking back, those lessons were some of the greatest gifts I’ve received. 

To hear more from Helene and Freda, click here.

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