Archive for Category: Finances
On MyPath.com: An Interview with Financial Literacy Expert Manisha Thakor
Posted in Finances Generation Y Recommended Resources on January 14, 2010 at 8:30 am
Are you making smart money decisions in your 20s?
In my podcast this week for MyPath.com, I’m thrilled to present an interview with Manisha Thakor, financial literacy expert and co-author of two great books on personal finance, On My Own Two Feet and Get Financially Naked.
In this 15-minute segment, Manisha answers the questions on the minds of today’s college students and recent grads, such as:
- What are the most important financial steps to take in your 20s?
- What are the biggest mistakes to avoid in your 20s?
- How can college students make good decisions about how much student loan debt to take on?
- What are the best ways to save money and live on a budget?
- What are the important financial steps to take when starting a new job?
Don’t miss this essential information for you and your wallet! Listen to the podcast now.
30/20 Vision Podcast: Thriving personally and professionally in uncertain times
Posted in 30/20 Vision Career Advice Economic Crisis Finances Generation Y Life Advice on November 19, 2008 at 2:40 pm
We just finished recording the November episode of 30/20 Vision, my monthly podcast with co-hosts Alexandra Levit and Christine Hassler.
Click here to listen to our discussion about how to not only survive, but thrive, in troubled economic times. We discuss career strategies, stress management techniques and tips for living “a champagne lifestyle on a sparkling cider budget.”
If you have additional thoughts and suggestions, please share in the Comments!
Guest Post: 5 ways to manage financial anxiety
Posted in Finances Generation Y Life Advice Recommended Resources Women on October 9, 2008 at 8:52 am
Feeling anxious about the current economy? Who isn’t? Author, blogger and twentysomething author Marcos Salazar is here to help.
Marcos Salazar is the author of The Turbulent Twenties Survival Guide: Figuring Out Who You Are, What You Want, and Where You’re Going After College and writes a personal and career development blog looking at the psychological, social, and workforce challenges facing college graduates in the 21st century.
If you are anxious these days about the economy, you are not alone. A recent poll by the American Psychological Association found that 8 out of 10 people say the economy is a significant cause of stress, up from 66 percent in April.
Women are also most likely to report stress related to the economic climate. Compared with men, more women say they are stressed about money (83 percent vs. 78 percent), the economy (84 percent vs. 75 percent), job stability (57 percent vs. 55 percent), housing costs (66 percent vs. 58 percent) and health problems affecting their families (70 percent vs. 63 percent).
Generation Xers (ages 30 to 43) and Millennials (ages 18 to 29) are not immune from today’s economic woes either. Generation Xers are the women most concerned about money (89 percent report money as a source of stress) and Millennials are most concerned about housing costs (75 percent report housing costs as a source of stress).
With headlines declaring that the economy is getting worse each day, it can be hard not to get stressed out about how this will affect your personal finances. Fortunately, there are strategies you can utilize to quickly help manage anxiety during this economic crisis. Here are five simple methods:
1. Do a reality check by making a budget . This is the number one thing you can do to decrease financial anxiety. By making a budget, you will become aware of where you are spending money, how much you owe, and where you may need to cut back. Not knowing where your money is going can cause you a great deal of unnecessary stress, so get organized and create a budget. Here is an easy tool to help you get started. (more…)
What young professionals need to know about the current financial crisis
Posted in Career Advice Finances Generation Y Job Hunting Recommended Resources on March 19, 2008 at 11:35 am
One of my “absolute must” tips for young professionals is to read a national newspaper every day. It’s essential to be knowledgeable about current events that might affect your career prospects, especially if the news is relevant to your particular industry.
For anyone working or job hunting today, the state of the U.S. economy is one of — if not the #1 — issue to know about. Luckily, today’s New York Times features a great article summarizing the current financial crisis in understandable language. The article, “Can’t Grasp the Credit Crisis? Join the Club,” by David Leonhardt, answers this complicated question:
So how is it that a mess concentrated in one part of the mortgage business — subprime loans — has frozen the credit markets, sent stock markets gyrating, caused the collapse of Bear Stearns, left the economy on the brink of the worst recession in a generation and forced the Federal Reserve to take its boldest action since the Depression?
As one of my favorite newscasters, Pat Kiernan of NY1, said this morning during my favorite segment, “In the Papers,” if you only read one story on the financial crisis, read this one.
Career Q&A: Advice for career changers
Posted in Career Advice Career Change Finances Generation Y on December 3, 2007 at 11:00 am
Q: I graduated from college a year ago with a psychology degree. My original career path was nursing, but I had to change because of monetary reasons. I am now working as a receptionist for an IT company. I feel like I have no career path at all. I am now thinking about leaving this job and working in a hospital. But I am afraid to take a risk, again because of monetary reasons. Any advice on how I can make this transition?
I think there are two issues here. One is about money and one is about finding a career that will make you happy.
It’s common to have concerns about money, but it sounds like you are letting money totally drive your career choices. While money is a very important factor in determining your path, it is only one factor and should not become your only motivator. I recommend that you read some books on this topic, so you can feel more empowered. Check out The Money Book for the Young, Fabulous and Broke by Suze Orman and Get a Financial Life: Personal Finance in Your Twenties and Thirties by Beth Kobliner
The other issue is about making a successful career change. Here is a collection of the best strategies I’ve observed in successful and happy career changers at all levels:
1. Become an expert on the industry you want to change into. Subscribe to industry magazines and e-newsletters, join trade associations and search the web for the names of the hospitals and executives at the top of the field. Learn the lingo of your new business—in your case, hospitals—so you sound like an insider even before you attempt to make the change.
2. Build a fresh network. Talk to anyone and everyone who works in the field you want to enter. Ask people out for coffee, attend networking events, beg everyone you know for referrals. Then, interview these people about how they got started, what experience is a “must” in their industry, how much you can expect to earn, what experience you should highlight on your resume, etc. Most people will be happy to share their wisdom as long as you’re polite and show your gratitude.
3. Learn how to talk confidently about your change. If you’re not projecting passion and belief in your career change, then no one else will perceive your change as realistic. Not Convincing: “Well, I’m thinking about switching from IT to health care, but I’m worried I’ll have to start in the mail room. Do you think I have a chance?” Convincing: “I’ve decided to pursue a health care career. I’m a great team player and very detail-oriented. How would you recommend I approach the transition?”
4. Be more than willing to learn. If people consistently tell you that you need a certain degree, a certain class credit or a certain skill set to enter the profession you want, then you must do this. With online learning, community colleges and adult education programs, you can find almost any course you need to fit your schedule and budget.
To make your transition as fast and painless as possible, combine all of the above tips simultaneously. And remember this: Career change is absolutely, positively, 100% possible. People do it every day. And the sooner you get started, the sooner you’ll be settled happily in your fabulous new career. Good luck!
Financial tips for recent grads
Posted in Finances on July 30, 2007 at 1:00 pm
How do you handle competing demands on your money when you are just starting out your career? In the terrific new book On My Own Two Feet, coauthors Manisha Thakor & Sharon Kedar lay out a simple 7-step plan to land you firmly on your financial feet in no time. (p.s. The book is targeted to women, but guys can learn a lot from the book too!)
