Community – Page 2 – mardihumphreys.com

Your Network Is Your Net Worth

You have a job you love and you wouldn’t even dream of leaving it. But what if it leaves you? COVID-19 protocols spotlighted not only how fragile businesses are, but also the importance of maintaining a professional network even when you aren’t actively seeking employment. Change comes whether you’re expecting it or not. Best practice is to build your network when you don’t need it.

Use LinkedIn Robustly

95% of recruiters use LinkedIn to find candidates. To attract people you want to connect with, audit your profile. Search for your job title, identify profiles you like, then use them as inspiration to update yours. Pay attention to their headlines and use the same keywords they do so that colleagues can find you. Do you need to upload a new headshot? When you show up to a meeting looking 10 years older than your profile picture, that does not help you make a good impression. Remember that LinkedIn is a conversation. Don’t just spruce up your profile and wait. Connect with people at companies you want to partner with, follow their companies’ pages, and promote them on your timeline.

Personally Connect

The best way to get a job at a company you want to work for is to have a personal connection there. Recruiting employees is expensive for companies. When hiring, managers both approach people they know and get recommendations from their peers because it mitigates their risk of a bad hire. As we continue to recover from the pandemic, now is a great time to reach out to your weak ties (acquaintances, people you worked with briefly or a long time ago and lost touch with, met through a friend, etc). Ask them how they are doing and offer to catch up. You may be surprised at how many people you know that fall into this category. It’s simple and doesn’t have to take a lot of your T.E.A.M. Make time to connect over in-person or virtual coffee. Add value to your warm connections when you can. A positive comment on a decision maker’s Facebook page, a like on their company’s Instagram post, sharing their LinkedIn article; these are easy ways you can pay it forward and stay top of mind.

Give and Take

New possibilities can take you by surprise. They come along when you’re doing your job well and your network notices. Be open to unexpected opportunities and explore them. A broad and diverse network not only propels your own career growth, but it also allows you to intelligently recommend other people. You feel good when you are able to supply people with opportunities. It’s likely at least one of your associates is looking for employment. You can tap your network to help them. Connecting good people to good jobs benefits everyone involved in the interaction. The employer gets a good hire, the seeker gets a good job, and you get to be the hero who introduced them.

Is networking scary for you, not just at Halloween, but all the time? How do you nurture your professional network? Please share in the comments.

Cultural Competency

Feedback is a gift. It’s usually one I want to return. But a few days ago I received feedback that I want to keep. I had the privilege of finding out how privileged I am by spending the day in diversity and inclusion training. When I tell people this, they usually wince and ask, “How did THAT go?” I get it. While mentally preparing for the day I braced for difficult conversations, sore toes, and conflict. What I experienced was respectful dialogue, open minds, and advocacy.

It had a great deal to do with the intentional way the day was facilitated. (Shout out to Dr. Karen. If your organization wants help with diversity education, contact her at DrKaren@DrKarenTownsend.com). Dr. Karen both coached and invited us to co-facilitate the learning with her. There was a rhythm of a truth presented, illustrated, a question asked about it, then discussed amongst the group. For example: What would the world look like if it was a village of 100 people? Here is a summary:

Nationalities: 61 Asians (of the 61, 20 would be Chinese and 17 would be Indian), 13 Africans, 12 Europeans, 9 Latin or South Americans, 5 North Americans (Missing: Australia, Oceana, and Antarctica)
Gender: 50 male, 50 female
Age: 26 would be under 15 years old, 74 would be adults – 8 of whom would be over 64 years old
Health: 1 would have AIDS, 26 would smoke, 14 would be obese
Living Conditions: 87 villagers would have access to safe drinking water; 13 villagers would not. 77 people would have shelter to live in; 23 would not
Religion: 33 people would be Christian, 20 would be Islamic, 13 would be Hindus, 6 would be Buddhists, 2 would be atheists, 12 would be non-religious, and 14 would be other religions
Education: 1 villager would have a college degree while 18 people would be illiterate
Technology: 33 villagers would have cell phones, 18 would have cars, 16 would have computers
Employment: 28 would work in Agriculture, 14 would work for Industry, 28 would have service jobs, and 30 would be unemployed
Income: 53 people would live on less than $2 (US currency) a day

The world is big and interconnected. You want everyone in it to use your product or service. You have a better chance of appealing to customers of various ages, races, genders, sexual orientation, military service, physical abilities, and religions if your staff represents those demographics. The trick is, you can’t stop at just hiring for diversity. You also have to promote diversity up the organizational chart. You have to fairly compensate every employee for their work. You have to be inclusive by listening to, and being influenced by, diverse viewpoints.You have to intentionally create a culture where all employees feel safe to share their experiences and backgrounds.Your staff needs to be both seen and heard in order to reap the benefits of both employee retention and market expansion.

How do you foster a welcoming and supportive environment at your business? Please share in the comments.

Old Money

You spend your whole life working hard, saving aggressively, and accumulating good credit. Your reward for that high net worth? A big target on your back. In the United States, elder fraud is estimated at $3 billion annually. You want to be polite to strangers and lead with trust, but if you are duped, you could lose your entire life’s savings.

Why Seniors

As of 2019, 34 million baby boomers are retired. This provides fraudsters with a wealth of opportunity. Society often portrays people over 65 years old as naive, lonely, and gullible. When popular schemes become widely publicized, they quickly change tactics. Once a fraudster has your money, it’s almost impossible to it get back.

Current Scams

Fraudsters prey on the target’s emotions. They approach with either overly sympathetic and friendly or overly pushy and threatening behavior. For example:

Romance – offers companionship
Caregiver – you employ them to work around the house, but they accept the job to steal
Grandparent – informs you that a grandchild is in trouble and you need to send the fraudster money to help your grandchild
Government Imposter – threatens arrest unless you pay them
Medicare – claims they are a Medicare representative and asks to verify your number. They use it to bill Medicare for fake services then keep the money. By the way, Medicare will never (and I don’t throw that word around) contact you for your number unless you have previously given them permission
Foreign Sweepstakes/Lottery – asks you to pay a fee to win a fake contest
Charity – a fake non-profit requests a donation
Home Repair – claims your home needs a repair, charges in advance, never provides service
Tech Support – offers to remotely fix non-existent computer problems
Media – fake ad for non-existent services like a reverse mortgage or prescription drugs
Investment – offers a guaranteed high return on your investment but only if you send the money to the fraudster right now
Zoom Account Suspension – an official-looking email saying you can’t use their service arrives with a malicious link to click so they can collect your Personally Identifiable Information (PII)
Vaccine Card – if you posted a selfie on social media with your vaccination card revealing your PII, fraudsters can capture your information to steal your identity

Be Proactive

Stay up-to-date on the current scams and refuse outreach from strangers. When tempted by an offer that seems too good to be true, verify the seller’s credentials, consult someone you trust, and/or research the offer online. Other people have probably already been approached and have insight on it.
Be suspicious of anyone who wants you to make a quick decision and keep it a secret. If someone contacts you claiming you, or someone you love, is in danger, write down their instructions: What do they want you to do (e.g., wire funds, send a gift card)? Where do they want you to send it (phone number, email address, website, financial institution, name, and account number)? Then call the police and give them the information you recorded.
Refuse unsolicited phone calls, mailings, door-to-door services, emails, and texts.
Do not give or send PII or valuables to strangers.
Be mindful online. Use reputable anti-virus software and keep it updated. Enable your computer browser’s pop up blocker. Do not download, open attachments, nor click on links in messages sent from strangers. If you receive an email from someone you don’t know, then the best practice is to delete it without opening it.

What do you do to protect yourself from fraud? Please share in the comments.

The Talk

It’s time for “the talk.” Not THAT talk; you need to talk to your family about retirement savings-both theirs and yours. Yes, the economy is suffering right now and it’s tempting to push pause on long-term savings, but the future keeps coming and everyone from Baby Boomers to Gen Z should continue to plan for it.

Don’t Count on It

Do not make the mistake of counting on the United States government to fully fund your golden years. Social Security is intended for use as an emergency resource, not your main source of income after you leave the workforce. Plus, by 2034, projections reveal that the Social Security Administration will be paying out more benefits than they are taking in through payroll taxes because there will be more retirees than employees. If Congress steps in then it probably won’t run out. But if you want to live the rest of your life comfortably, then you should fund your own retirement.

It’s Not About the Money

When talking to your family about future finances, you’re not really discussing money. Whether it’s your adult children who want you to carry them on your insurance or your parents who want you to be the executor of their wills, money is just a representative. What you’re really talking about is both expectations and emotions. Whether fear, resentment, kindness or generosity, feelings are attached to financial conversations. These discussions are not one-and-done. For example, when your parents began telling you about the birds and the bees, it wasn’t just one talk, was it? When our daughter was three years old she asked me where babies came from. I told her Cleveland. That satisfied her for two years. As she grew older, her questions grew more specific. It’s the same for the money talk. As everyone in your circle of care ages, the questions you ask them should become more specific. For example, when speaking with:

Gen Z – Do you have an emergency fund with at least $1000 saved? If not, they should think about automating their savings. Here is how to create a plan
Millennial – Are you aggressively paying off debt? Here are some pros and cons
Gen X – Are you taking advantage of catch-up retirement savings? Here is how they work
Baby Boomer – Have you thought about where you want your assets to go after you’re gone? Here is what they need to know if they live in the great state of Ohio

Awkward

How you manage your money is a very personal choice. When it has the potential to impact, either positively or negatively, the people you care about, you must talk to them about it no matter how awkward it feels. Opening up a dialogue before a financial emergency happens allows you to remain calm when the crisis hits. It may even prevent the crisis. The result of uncomfortable money conversations with your loved ones is it becomes more comfortable the more you do it. The result is peace of mind, and you can’t put a price tag on that.

What stops you from talking to your people about their and your future finances? Please share in the comments.

Taking the Lead

The photo above is my reaction to reading my acceptance email to Leadership Dayton. I’m thinking, “This must be how Harry Potter felt when he got his letter to Hogwarts!” The program is offered by the Dayton Area Chamber of Commerce. For 10 months, leaders are immersed in the systems that make our community run. Let’s define leader as anyone who has a sphere of influence. Since everyone has a sphere of influence, everyone is a leader at some level. Why should anyone invest time learning how their community works? Even if you don’t commit to a formal leadership development program, giving time to your community benefits the work-life integration of both you and your workforce.

Empower

Your business exists to solve problems. You want coworkers who can quickly identify organizations that have the problems your business solves. A great way to do that is to join a committee for the non-profit organization of your choice. You’ll see their struggles firsthand and work with other volunteers to creatively solve them. Then you take the new problem-solving skills you learned back to work and show your team how to apply them to your next project. With this evidence, you could petition your C-Suite executives to allow individual contributors to volunteer on company time. The ROI for employees, non-profits, and your community is exponential.

Elevate

As a leader, one of your responsibilities is to reach behind you and pull others up the ladder. We usually think of that in terms of advancement in the company, but what your coworkers experience outside of the workplace affects them at the workplace. What do they need help with while not on the job? Do they need emotional support emerging from the pandemic? Help with a non-responsive landlord? Upskilling? Relationships with SMEs you can contact when your employees require resources like bankers, educators, and lawyers is a valuable benefit of working with you. For example, if one of your individual contributors has a child with special needs and is having trouble tracking down a specialist, if you volunteer on a committee at your local Children’s Hospital, you can connect them with assistance. This may seem way above a manager’s pay grade, but recognizing your workforce as human beings with needs you can meet builds trust, and business moves at the speed of trust.

Emulate

Once you get the hang of working with committees in your non-profit community, maybe even serving on a governing board, you are ready to reproduce yourself. Select a direct report with leadership potential and bring them alongside you to serve. When they get their feet under them, allow them to choose a coworker with similar interests and leadership potential and send the two of them off to start the cycle over. They may choose a totally different cause to support than you do, and that’s okay. Your community is full of diverse needs and needs diverse people to meet them.

I’m excited to go on this journey with my classmates and learn how I can use my T.E.A.M. in service to a community I love. How has taking the time to lead positively affected your company? Please share your thoughts in the comments.

Defense Mechanism

It’s my mom’s birthday and I’m reflecting on some of the work she’s done so far: Registered Nurse, Director of Nursing, Sunday School Teacher, and now a Christian Counselor. These jobs share a common thread: compassion. Being the well many draw from saps her energy and she has to intentionally replenish it. Can you relate? If you are a parent, teacher, or in any type of care-giving role, what you assume is burnout due to the constant stress, change, and loss thanks to COVID-19 may be Compassion Fatigue (CF).

What is it?

Also known as secondary traumatic stress, CF is one of your body’s defense mechanisms. You become emotionally and physically exhausted when you’re repeatedly exposed to stressful events. This can leave you numb to others’ suffering. The condition is usually associated with health-care workers, but anyone who is consistently exposed to someone else’s hardship (e.g., first responders, clergy, public librarians) can experience it. CF can also be caused by a heavy workload, excessive demands, and long hours. For example, the mom working from home while supervising her children’s online school is a candidate for CF. You’re particularly susceptible if you watch a lot of news, have too many priorities competing for your energy, or work in a dangerous environment. Remember, since COVID-19 began, environments once considered innocuous are now seen as dangerous (e.g., grocery stores). Any time you have less energy, add more fatigue, then have to expend more energy, you are at risk. For example, you’re worried about your at-risk parents’ health while you are working longer hours, then a friend tests positive for COVID-19.

What Does it Look Like?

Symptoms of CF can be both physical and emotional. Watch for these behaviors in both yourself and those you interact with:

Physical:

Distracted, forgetful, withdrawn
Aches, pains, nauseous, insomnia
Work absenteeism, unproductive, relationship conflicts
Self-medicating/Substance abuse (food, alcohol, drugs, gambling, more work)

Emotional:

Helpless, sad, hopeless, isolated
Anxious, worried, overwhelmed, depressed
Irritable, restless, tense, self-doubt
Dissatisfied with self and/or job

What Can You do About it?

Self-awareness: When you feel three or more of the above symptoms, define your triggers. When you just don’t care anymore, why is that? What is the root of the stress? What can you control? Will you accept help from others at home? Can you delegate tasks at work?

Boundaries: Prioritize your needs over what others need from you. Set, maintain, and enforce limits for: work-life integration, time spent scrolling through social media, care giving, realistic expectations.

Self-care: Do something everyday that boosts your energy: eat well, exercise, read, listen to music, drink water, journal, sleep, meditate, pray, talk to a friend, spend time in nature, laugh.

Compassion Fatigue should not be normalized, but talking about it openly should be because it’s not going away. Everyone has a new, longer-term complication and they want your support. For example, adjusting to emerging working conditions (e.g., remote, in-office, hybrid), concern for their young children going back to school, or comfort after the death of a loved one. Figuring out how to balance restoring, conserving, and giving away your energy is a key to effectively helping those you love and work with.

Are you experiencing Compassion Fatigue? What measures are you taking to recover from it? Please share in the comments.

Travel Team

It’s vacation season and if you have a spouse, you want to travel together. But there are things you want to do that they don’t, such as spend five hours at one art museum, spend three hours at a coffee shop, or spend an hour reading a book at a botanical garden. Luckily, you have friends who think these pastimes sound heavenly. In addition to traveling with your partner, take a trip with a friend. These adventures are ripe with lessons you can take back to work.

Getting to Know You

Constant togetherness reveals hidden talents as well as idiosyncrasies. For example, you discover that your friend has an uncanny ability to quickly spot your Uber while they notice that you can easily navigate large airports. On the other hand, maybe you are irritated by your friend’s obsession with the weather forecast and they are annoyed by your insistence to walk everywhere. We learn to be more considerate of each other because our time together is finite. The same is true at work. Projects have lifecycles. Acknowledge an interpersonal conflict when it starts. Be quick to define both your and your teammate’s boundary. Additionally, recognize that taking the time to unravel and resolve miscommunication is time well spent.

Plan B (or C or…)

When traveling, sometimes Plan A won’t work. Issues like flight delays, a car rental company losing your reservation, and a broken air conditioner in your hotel room provide multiple opportunities to not only find out how good a business is at customer service, but also work with your friend to figure out how to overcome the obstacle. Which one of you will: Take the lead in patiently communicating the unacceptable situation to customer service? Motivate the other to remain calm? Influence the service you receive by confirming that everyone is working toward the same goal? After recovering from the setback, you can take the lessons you learned (e.g., active listening, empathizing, aligning expectations) back to work and apply them to your team’s next project. When unpredictable obstacles occur, you can confidently take the lead to solve them because you’ve experienced the emotional intelligence required to get through a frustrating process.

Teamwork

The first time you travel with a friend to a destination that’s new to both of you, logic dictates that you set the parameters of the trip and start negotiating. Who is booking the transportation? Who is booking the hotel? Who is booking reservations at the restaurants, museums, sites, etc. that you want to visit? You divide up the task list according to talent. They are good at determining how much time you need between connecting flights. You can detect if a hotel is as good as its marketing says it is. You must trust each other to complete these tasks. During the trip, you both are gracious when unforeseen challenges happen. You patiently support one another when mistakes in judgement cause setbacks. You encourage each other to stretch outside of your comfort zones. You remain flexible so both of you can reach the individual objectives you have for the getaway. See what I did there? These activities are examples of collaborative teamwork. The same skills and mindset you use traveling with your friend apply to the project you’re tackling with your coworkers.

Do you plan to travel with friends this summer? Where are you going? Please share in the comments.

Satisfied ≠ Engaged

When I hear the term employee engagement, in my head I see a scene like the photo above; engaged people satisfied with their work. I thought engagement was synonymous with satisfaction, but no. An engaged employee is probably also a satisfied one, but a satisfied employee is not necessarily engaged.

What’s the Difference?

Satisfied employees do their job, but don’t look for ways to contribute to the mission or vision of the company. They’re satisfied with short term incentives like a raise, and dissatisfied when the work gets stressful. Satisfaction is how happy employees are, which may include things like getting paid for doing as little work as possible. Satisfied employees avoid accountability, try to maintain the status quo, and resist change.

Engaged employees are enthusiastic about their positions, dedicated to the company, and work beyond their job descriptions. They believe in the company’s mission and actively promote it. They’re both mentally and emotionally dialed in to their work, teams, and organizations and expect a long-term relationship with all three. They embrace change; taking the initiative to seek out processes that can be improved and improving them.

Why is it Important?

Eighty-one percent of business leaders said engaged employees perform better than satisfied ones. They’re more productive, less absent, attract new talent, and stay with the company longer than satisfied employees. This results in growth and innovation in a thriving economy and the ability to bounce back after a recession. Engaged employees know their role in the company’s objectives. When an employee knows their purpose, they filter their work through it. The company can then harness and channel this energy to reach its goals.

How Do You Do It?

Communication: Employee engagement starts at the top. Senior leadership should authentically view employees as their most valuable asset and prove it by:

Casting a vision for the company, clearly and repetitively stating it, and lead accomplishing the company’s mission by example
Giving organization-wide updates on the health of the company including changes. Disclose what leadership is doing to improve the current conditions
Focusing constructive feedback on employees’ performance (not the person) and following up
Offering a process for anonymous company-wide feedback and implementing employees’ responses
Publicly recognizing engaged employees and giving them a system to publicly recognize each other

Cultivation: Business moves at the speed of trust. Senior leadership can build trust with employees by:

Defining what success looks like to the company and how to reach it with honesty and integrity
Providing clear expectations, holding people accountable, and focusing on delivering results
Making enriching employees’ lives a company value and acting like it (e.g., supporting employees’ career development with both money and time)
Developing cross-functional teams to complete projects. Pro-tip: When coworkers do projects together, they organically bond and create positive team memories because they achieve communal success

Contribution: Engaged employees want to feel like they’re instrumental to the success of something bigger than themselves. Senior leadership can tap into that desire by:

Matching roles to employees’ strengths
Giving employees tasks they find both interesting and challenging
Sharing ownership of the company’s mission
Reiterating how the work employees do contributes to the company’s success

A company with engaged employees experiences less turnover, higher sales, and more customer satisfaction. When an employee quits their job in America, it costs the employer about $5000 to replace them. It was hard enough to find good employees pre-COVID-19. It’s so challenging now that it’s simply a wise business decision to invest in keeping the ones you have.

Does your company have an employee engagement strategy? How does it work? Please share in the comments below.

You’re Not the Boss of Me

Here in the mid-digital age you may find yourself working as a member of a team more often than completing deliverables on your own. I’m a big fan of the-more-heads-the-better for problem solving, but when your supervisor tasks you with exerting influence over coworkers who aren’t your direct reports, you have responsibility without any authority. What do you do?

This scenario usually employs a version of the Matrix Model of Management. It’s a popular construct because it allows departments to share resources according to their functions. A company can take employees who report to various supervisors and assign them to project teams based on the talent required to complete the work. This not only saves the company money, but also fosters creative problem solving. The tricky part is: Who’s in charge? This ambiguity creates multiple challenges, especially if the team is large and/or there is competition to lead the project. Best practice: when forming the team, the supervisors assign the leader and communicate that information to the entire team.

When you’re the one in charge, you can’t offer the incentives (raises, promotions, getting fired) the supervisors can, yet you have to find a way to both engage and motivate the team because if they miss the deadline, you’re the one who gets in trouble. Leading through influence requires strong interpersonal skills. You have to take initiative early in the process to build relationships and persuade with diplomacy. Some things to consider:

Clarify

Defining roles and responsibilities at the outset helps eliminate frustration and duplication of efforts. At the first team meeting, decide together who does what and when:

What is the goal? What does success look like?
Who will shepherd which task and what are the deadlines? Pro Tip: The person who sets the deadline is in control no matter what their title is.
What are the project’s KPI’s? How will you know you’ve met them?
How will you meet? In person? Videoconference? How often? Daily? Weekly? What hours is everyone available for questions or huddles?
What information will you need from them? What information will they need from you?

Communicate

Each of your team members has multiple demands on their time from multiple supervisors and multiple projects. Every week team members should either submit an email report or meet with you for a brief update on both the progress of your project and the status of their other projects. This alerts you to competing deadlines and prompts you to notify your team’s supervisors. Ask the supervisors to prevent a crisis by prioritizing projects. Pro Tip: A written status report (on both successes and challenges) can double as documentation for annual performance reviews.
From the beginning and throughout the project, remind the team that you support their individual brands. Email their supervisors when they produce good work. Give the team visibility to the rest of the company.
Observe what motivates your team. Who works because it’s intrinsically rewarding? Who works for recognition? What are their career goals? Connect working on this project to reaching them.

Cultivate

Teams working on short projects together don’t have much time to connect on a personal level, yet business moves at the speed of trust. It’ll make your life easier if you can accelerate team bonding.
If a teammate is uncooperative, schedule a 1:1 and find out why as soon as they miss a KPI. Are there barriers you can remove (e.g., other projects)? Do they need resources you can obtain (training, equipment)? If the teammate still refuses to produce in a timely manner, send them an email reiterating your conversation and copy their supervisor. If you still can’t convince them to contribute, schedule a meeting with their supervisor and ask how they motivate the employee. Pro Tip: the emails should be enough evidence to keep this employee off of future teams you lead.

If you have to manage projects without authority over people, then you must build commitment and engagement. Find common ground and use it to align goal setting. Get your team the resources they need to do good work. Explain the logical (not emotional) reasons for taking an action and the consequences of not taking it.

Have you had responsibility without authority? How did that work out? Please share in the comments.

Let the Sun Shine

Daylight Savings Time is upon us and I am not a fan. The pessimist in me thinks, “What’s one more hour of lost sleep after all the hours I’ve lost thanks to COVID-19?” The optimist in me thinks, “Yay! Spring!” Since we can’t control time, let’s concentrate on saving something we can control: money. Our financial goals fluctuate with the seasons of our lives, but we sleep better if saving is always one of them. Here are three rules of thumb that give me financial peace of mind: live within your means, fund your future, and be generous.

Live Within Your Means

I’ll state the obvious. Make more money than you spend. Having said that, there are some maybe not-so-obvious ways to save more of your means. Do you use a cell phone? Internet? Cable TV? Satellite TV? Can you live without one of these? If not, are you getting the best plan for your budget? You can check and adjust accordingly. Finding a cheaper plan doesn’t necessarily mean you have to switch providers. You can contact your current one and ask them to match their competitor’s rates. Do you use a travel rewards credit card? If earning points for travel no longer fits your lifestyle, switch to a card that does. For example, while you may not be traveling as much right now, you’re still buying gas and groceries. Switch to a credit card with cash back rewards for those purchases.

Fund Your Future

If you’re getting a tax refund of more than $2000 (the average refund for 2019 was $2535), consider filling out a new W-4 with your employer to have less tax deducted. Some tax payers I know purposely overpay income tax so they’ll receive large refunds. They use the money to pay for big ticket items, and that is a choice. Another choice is a short-term savings strategy for big ticket items. For example, direct depositing that extra amount into a high-yield savings account instead of overpaying income taxes. A tax refund check seems like free money. It’s actually money you give the government every month, it uses for a year (interest free, btw), then finally allows you to have what’s left. If that money stays in your paycheck, you have the option to invest it in your employer’s 401(k) plan, or your personal IRA, or another long-term savings option. This both removes the temptation to spend the money, and invests it for your future.

Be Generous

You feel good when you help others. Think about how good Ebeneezer Scrooge felt when he was generous with his money. But you don’t have to give money to be generous. For example, when your grocery has non-perishable items on sale and you have coupons, buy the limit, keep a couple for yourself and donate the rest to a local food pantry. Do you have clothes you haven’t worn for two years? (Not wearing them in 2020 doesn’t count.) Bag them up and donate them to your local thrift store. When you don’t have a lot of money, you still have something to give; even if it’s just giving a smile to a stranger; with our eyes, because, you know, mask. Our abundance isn’t always measured in money.

What do you do to maintain financial peace of mind? Please share in the comments.