black people and money

Setting Yourself Up For Success In January

Setting Yourself Up For Success In January

By Ryan Velez

Self-improvement isn’t something that happens instantly. Rather, it is a game of smaller moves that end up combining to make things better for yourself, your career, and your relationships. A recent Business Insider article takes this into account and offers a series of tips that you can put into practice this month to start your 2018 off right.

For one, you can start looking into your net worth. This isn’t as simple as charting your income. Make sure you are putting your assets and debts into account. “As a financial planner in New York, Business Insider’s Lauren Lyons Cole says one of the first tasks she asks clients to complete is their current financial snapshot, an overview of every aspect of their financial situation, including account balances. Once you can see all your money in one place, you can start figuring out what you want to do with it.”

If you work from home, distractions become much more of a potential issue. However, a little time to change up your surroundings can do a lot. “Loudenback now spends at least two hours every day away from her “work desk,” which is in her bedroom, and at least one day a week outside of her apartment at a coffee shop or elsewhere. Brie Reynolds, a senior career specialist at FlexJobs, told Loudenback that moving from one space to another is “a great way to stay focused and productive throughout the day.” Plus, it breaks up the monotony we all suffer from occasionally.”

Another thing you want to try and do is save 15% of your monthly income, but this takes effort. “According to Fidelity’s recommended retirement-savings benchmarks, if you’re 30 years old and earn $60,000 a year, you should have the equivalent of one year’s salary ($60,000) saved. At 35, it should be twice that amount ($120,000). At 40, it should be three times that amount ($180,000).” Note that this doesn’t mean that you need to save every penny. Investments can make all the difference.

Finally, take a bit of wisdom from the CEO of Dropbox. Ask yourself: One year from now, five years from now, what will I wish I had learned today?

“Whether it’s just the fundamentals of business or things like public speaking or being more inspiring or being a better leader, these are all things you can get better at with practice. You should set your sights high in terms of what you aspire to do, but you also have to be patient.

“It’s like playing an instrument. You’re not going to be great as a public speaker, or you’re not going to improve a lot in five days, but in five years, you might be really surprised at how much you can improve,” explained Drew Houston.

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