Tag Archives: Finances

Three Things I’ve Learned From Warren Buffett by Bill Gates| LinkedIn

Know how valuable your time is.

No matter how much money you have, you can’t buy more time. There are only 24 hours in everyone’s day. Warren (Buffett) has a keen sense of this. He doesn’t let his calendar get filled up with useless meetings. On the other hand, he’s very generous with his time for the people he trusts. He gives his close advisers at Berkshire his phone number, and they can just call him up and he’ll answer the phone.

(Good advice for all business owners…spend time doing what you do best, and leave the other details to those who know those details best. Contact us today (moorebookkeeping@msn.com) if you’d like to stop dealing in the bookkeeping details!)

via Three Things I’ve Learned From Warren Buffett | LinkedIn.

Three Words That Will Transform Your Career | LinkedIn

Every time you encounter another person, think: help this person. It’s not altruistic. Nothing else can so quickly supercharge your career and improve the quality of your life.

When you walk into Starbucks for a coffee, think help this person about the barista who serves you. Instead of being frustrated that he isn’t moving fast enough, see if you can make him smile. Better yet, tell him to keep the change.

When the phone rings on a busy day, don’t get frustrated by the interruption. Think help this person while you answer the phone. Doing so will change your demeanor, your thought process, and the entire interaction.

If you have a subordinate who isn’t pulling her weight, instead of criticizing her, every time you see her think help this person. This doesn’t mean let her slide, or ignore her shortcomings. It means help her either improve her skills or find a position better suited to her strengths. But don’t just brush her aside; really help her.

 

But wait a minute – I know what some of you are thinking. What about the people who take credit for other people’s work? What about the rich and powerful who have gotten that way by crushing others? Doesn’t their success prove me wrong?

Not at all. Sure, there are some people who take the exact opposite strategy. But it takes real skill and focus to succeed by being evil, and most of us just don’t have the fortitude to pull it off. For those of us with a soul and a heart, the only real choice is to succeed by helping others.

By first thinking help this person, you will change the ways that others perceive you. There is no faster or more effective way to change your interactions and relationships. You will be viewed as a positive, constructive, helpful and dependable person. People will think you are more perceptive, attentive and understanding.

That’s why this way of thinking is not altruistic; it is selfish, in the best sense of the word. The single best way to help yourself is to always be looking for ways to help other people. Sure, you’ll be making the world a better place, and in the course of your life you will help many thousands of people. But don’t do it because you ought to, or because it’s the “right” thing to do.

Think help this person because you’re selfish, and proud of it.

Thanks for reading this.

Money Mistakes You Might Be Making – 360 Degrees of Financial Literacy

Mistake 1: Only saving what’s left over

Do you continue to worry that you’re not saving enough? Do you routinely rely on credit rather than cash to pay for the things you want or need? Rather than blame your financial inertia on your income, look a bit deeper, because the real culprit may be the lack of financial priorities. If you don’t know exactly how you’re spending your money and you haven’t set financial goals, it’s unlikely that you’ll see much financial progress.

Go back to basics by preparing (or reviewing) your budget. If you tend to save only what you have left over every month, you can put yourself on a more disciplined course by having a fixed amount taken out of your paycheck automatically for retirement. Or, you can set up automatic transfers from your checking account to a savings or investment account.

Mistake 2: Not having an emergency fund

One lesson that you may have learned over the past few years is that the job market isn’t stable. That’s a major reason why one of your savings priorities should be an emergency fund. While it isn’t glamorous, this underappreciated workhorse really pulls its weight during hard times. Having cash on hand that you can use for an unexpected expense, or to pay bills if you lose your job, is vital because it can help you avoid having to rely on credit or tap your retirement savings. If you don’t have emergency savings to fall back on, a minor money shortfall can quickly turn into a major cash crisis.

Mistake 3: Not asking for help

Even if your finances are in good shape right now, you may be overdue for a checkup. Reviewing your finances is especially important during periods of volatility because it can help reveal potential strengths and weaknesses, and identify changes you might need to make to adjust to the current economic climate. And if you’re already in financial trouble, don’t let fear or shame prevent you from asking for help. Facing financial problems early may help you make a full recovery. Many creditors are willing to work with you, but this may be much easier while your credit is still good, and while you still have time to turn things around.

via Four Money Mistakes You Might Be Making – 360 Degrees of Financial Literacy.

The 50/30/20 budget fix – 1 – budgets & spending – MSN Money

It’s not easy, but the 50/30/20 budget fix works. Start where you are, and work toward the 50/30/20.

And why limit yourself to the 50?

  • It gives you flexibility. Your income could drop by half and you’d still be able to pay your essential bills. When your must-haves eat up more of your income, you have less ability to cope with setbacks such as layoffs, reduced work hours or unexpected expenses.
  • It helps you figure out what you can and can’t afford. If you’re considering adding a loan payment or other contractual obligation to your overhead, you simply check to see if it would push you over the 50% mark. If not, you can consider adding the payment; if so, you don’t.
  • It gives you balance. Limiting your overhead allows you to have money for the pleasures in life, such as dinners out and vacations, without stress. It also allows you to get out of debt and save for your future.

The 50/30/20 budget fix – 1 – budgets & spending – MSN Money.