Beating Broke

Personal Finance from the Broke Perspective

Best Ways To Beat The Blues and Move Your Career Forward

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If working on your own, building the life of your dreams, and moving your career forward is on your mind—you know that getting ahead is up to you.

Years ago, I worked with Sandy, a personal trainer. This woman was unbelievably fit. She is the mother of 4 children, with an awesome physique and unwavering commitment.

While training with her, Sandy’s favorite phrase was: “If it is to be, it’s up to me.”

Ultimately, it is up to you to make the changes you want to see in your life.

I know. It’s not pretty, fun, or magical. It’s hard work. But, it is the only way forward.

Here are some of the best ways to beat the blues and get ahead in your career.

Ditch Sloth

Whether you’re thinking about lifestyle changes like getting in shape, eating healthy foods, creating your own business, or getting a dream job, you need to be focused.

All the focus in the world won’t do you any good without action. This is why it’s time to ditch sloth. Forget about feeling that being lazy is desirable.

Tip: For one week, track the hours you’re spending doing nothing. Sometimes seeing all those minutes and hours add up can be just the motivation you need to get into gear.

Abandon Self Pity

You’ve got it rough. Things haven’t turned out the way you planned. Someone, maybe a friend, parent, or teacher sold you that success would be easier, faster, and more no-brainer than it turned out to be.

Life is brutal sometimes. But, you can make headway—if you abandon the habit of self-pity. It’s really not going to get you where you want to go.

Tip: For one week, record how much time you’re feeling sorry for yourself. At the end of the week—look at your results. Is there really not a better way to spend your time?

Question Authority

We often don’t question our own thoughts. Habitual thinking has a nasty habit of taking on the tone of an inner authority. This is called negative thinking—and it can seem realistic—until you challenge it.

Tip: For one week, record your thoughts. After a week, examine these authoritative statements. Challenge negative judgmental thoughts, “Is it true? Is it really, really true?”

Question Negative Actions

While we’re living on our own as adults, we often start some negative habits and actions. It makes sense. We may have grown up in a very buttoned down household with lots of rules. We may want to stretch our wings and rebel.

But, after a dose of rebellion has taken place…it’s worth asking some questions.

Did drinking last night really make me feel great this morning?

Did that shopping spree still feel wonderful when you got the credit card bill?

Did paying high interest on lingering debt feel great when you saw the damage?

Tip: Question your actions for one week. Do this gradually, examining your finances, lifestyle, and career moves, one section at a time.

Embrace Learning 

We don’t always know everything we need to. As students in high school or college, we knew this intimately. That’s why going to a new class, learning a new subject, or working with a tutor was so exciting.

It’s not too late to take advantage of learning. If you’re working in an organization, check out employee training offerings. You may find that skills you want to build are already offered—as part of your work package.

Tip: Talk with your manager or supervisor. Find out what training is offered as part of your package.

Put What You Learn Into Action

Naturally, learning is only going to help you if you use it. That’s the awesome thing about action. While you’re learning new skills, you put them into practice. This is a proven way to move ahead in your career and in your life.

Tip: Make an action plan to apply what you’re learning. Use your plan to feel confident, happy, organized, and successful in your life.

Sum Up

If you’re looking for ways to beat the blues and move forward in your career, you’ve got a plan of action. As you move forward, remember, “if it is to be, it’s up to me.” Looking forward to seeing you at the top!

What to Do If You Lose Your Job

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People may feel a little sad after losing a job. It feels like there’s nothing you can do, but there are some steps you need to take. The following are a few things to do if you lost your job.

Address Healthcare

Unlike most countries, America doesn’t guarantee healthcare to its citizens. Because of that, most people depend on their employer for health insurance. If you lose your job, you lose access to this coverage. Your first step should be to get healthcare quotes online. Even if you feel okay right now, healthcare emergencies come out of nowhere, so you need to prepare.

Unemployment Benefits

If you qualify for unemployment benefits, be sure to read every question on the application. Go over it as many times as you need to to ensure you don’t make a mistake. A mistake can cause delays, and you can’t afford that right now. Try to apply for this as soon as possible because it can take some time to get approved, even if you do everything right. Be sure to answer questions promptly if you’re asked to avoid delays.

Reduce Bills

Those bills are going to keep coming, and you need to do something about them. Some bills you can eliminate, like entertainment bills or subscription services. It’s easy to separate which expenses you need versus what you want. If an item doesn’t keep you alive, then you can eliminate it. The bills you can’t get rid of could be reduced. Call credit card companies and anyone else you need to call to see if you can get your bills reduced. You’ll have to be honest and tell them you lost your job.

Rework the Budget

The reality is you won’t have the same amount of money coming in, so you need to make some changes. After you reduce your bills, create a new budget. You need to include the new healthcare expense in this budget. If you can, leave enough to go into your savings since you may need it. Get stingy with your spending. One way to this would be to avoid eating out for a while and opt for home-cooked meals instead.

Start to Apply

You must start applying for jobs. If it’s been a while since you updated your resume, work on reflecting on your most recent accomplishments. Be sure to clean up your social media accounts because some jobs pay attention to that kind of stuff. Type in your name in a search engine to see what shows up. If there’s anything that doesn’t make you look good, then work on cleaning up your online presence as you begin to apply for a new job.

Gig Economy

The gig economy is here. Since you lost your job, you can join this new world. You don’t know how long it’ll take to find a job, but at least this way, you’ll be earning some cash here and there. There’s a lot you can do, from renting a room to visitors to picking up and delivering food to people in your community. The good thing about these gigs is you can stop the moment a company hires you.

Hopefully, you take these steps as soon as you can. Try to be patient as you look for a job because it can take a while sometimes, but don’t give up.

How to Help Your Elderly Parents Budget Their Finances

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As part of the so-called “sandwich generation,” trying to figure out how to help your aging parents manage their finances can be a unique challenge. Not only are you trying to help take care of your own children, but now you also have your mother and father to worry about.

Trying to take over your parents’ finances can be unquestionably stressful. There’s a good chance that they raised you and likely taught you about money management. And now, after all these years, they’re unexpectedly finding themselves turning to you for financial help — and even worse, they might even be resistant to it!

Fortunately, helping your senior parents manage their finances does not have to be an emotionally harrowing ordeal. In many ways, they already have the foundation of good financial planning down; they may just need a little extra assistance with some of the unexpected incidentals.

If you’re looking to help your older parents stay afloat without worrying about them going bankrupt on your watch, then look no further. Here are five handy tips to help you keep a vigilant eye on your parents’ finances without causing unnecessary tears, frustration, and anxiety in either of you.

Have Empathy

First and foremost, when taking over your parents’ finances, you need to approach it with a little bit of compassion. It’s important to remember that your parents are precisely that: mature adults who likely already know a thing or two about handling money. After all, they raised you, right?

Instead of coming in with a patronizing or infantilizing tone, instead try to imagine yourself in their shoes. They may be more than a little bit confused, especially if they’re starting to undergo mental changes that may make them more prone to forgetfulness. By approaching it with the right attitude, you can help avoid hurt feelings in the long run.

Know Where They Stand

Once you know how to talk to your parents about your goals of assisting them with their finances, your next step will be to take a closer look at their current budget and income. Before you can start earmarking money for expenses, you first need to know how much they’re making and where it’s all going.

Plan For the Day-to-Day

When you think about your own monthly budget, what comes to mind? You probably think of your mortgage, your car payment, and even your grocery bill. While your parents may not have those same expenses, it’s still important to make sure there’s enough money budgeted for the things they need in their daily and monthly life.

…But Also Plan Ahead

Nobody likes to think that something bad will happen to their beloved parents, but the sad truth is, they’re not going to live forever. Even if they’re healthy now, there could come a time that you may have to have a hard conversation about both long-term care for your parents and even funeral expenses.

Yes, this could be a very uncomfortable conversation to have, but it’s still very important to plan ahead for these things. You also need to make sure you budget enough for professional care for your parents, especially if you (or your siblings) do not feel qualified to take care of them in their advanced years.

Fortunately, there are a number of options you can turn to if you’re looking to bring a senior care provider into your parents’ home. Whether you’re looking for home care agencies in NYC, Tampa, Sacramento — or anywhere across the country — you have your option of warm, kind, and highly trained professionals to help take care of your loved ones.

Remain a Constant Presence

Finally, helping your parents with their budgets is not some one-off thing that you do just once then dust off your hands. Instead, you need to realize that your parents’ finances can change in the future. They may also grow more dependent upon you, as well. Sadly, there are also some people out there who prey upon seniors, so you always need to take the initiative to go over their finances with them.

Ideally, you should plan one day a month to go through their bills and their other expenses with them. Look for anything that may seem wrong or suspicious. You also want to make sure you don’t outright accuse your parents of frivolous spending, either. Remember, it’s their money, and you’re simply there to help them.

Taking care of your parents’ finances can be a wonderful and rewarding experience. Furthermore, there’s a high likelihood that they’ll be grateful for your help, and you can help strengthen your bond with them while doing so. By following these five tips, you can help ensure that the entire process goes smoothly for both yourself and your parents!