Work – Page 20 – mardihumphreys.com

Should You Surf the Tsunami?

The number of posts from my LinkedIn connections announcing their new positions increases every day. Have you noticed it too? The Talent Tsunami is soaking us. Is it tempting you to find a new gig? Even now a job search can still be long, arduous, and uncertain. How can you tell when it’s time to move on?

In my role as a Change Agent, I ask questions so my clients can visualize both where they are and where they want to be. Next week, we’ll discuss how to figure out where you want to be. But first, here are questions to help you determine whether or not your current employment situation is still worth your T.E.A.M.

Your Body

Stress can physically manifest itself. Do you have headaches, nausea, and/or heart palpitations when you’re getting ready for work, at work, or just thinking about work? If so, your subconscious is trying to get your attention.

Your Mind

If your talents aren’t being tapped, you’ll get frustrated and, eventually, resentful.

Do your skills match the work you’re doing?
Are you unhappy the majority of the time you’re working?
Are you spending more time on social media than your work?
Are you watching the clock hoping time will speed up so you can leave?
Do you experience Sunday Scaries?
Are you looking at job postings and daydreaming about them?
Are you no longer proud of the work you’re doing?
Are you lowering your standards?
Do you hear yourself say, “It’s just a job”?
Have you lost your passion for the work?
Do you see your work as challenges or problems?
Careless mistakes (e.g., frequent typos, forgetting scheduled meetings) happen, but too many too often indicates that you’re disengaged from the work. Are you making too many glaring errors?

Your Environment

Has the novelty of being the SME worn off?
Are you tired of being the trainer and never the one learning something new?
Does your employer provide company time and money for upskilling?
Is advancement possible?
In order for you to move up, does someone have to leave?
Can you have a transparent conversation with your manager to find out if what you’re looking for can be attained within the company?
Have you taken on more responsibility and the effort has yet to be acknowledged?
Have you asked for a promotion at multiple performance reviews and even after completing the tasks your manager told you would result in advancement, they tell you that you’re still not qualified yet?
Are you no longer getting highly visible assignments?

Your Relationships

How do you get along with your manager?
Does your manager habitually give you instructions and refuse to hear your insight?
Does your manager refuse to negotiate benefits or discuss salary?
Are conversations with friends and family dominated by complaints about your job?

When you evaluate whether or not your current employment is worth your T.E.A.M. (Time, Energy, Attention, Money) what criteria do you use? Please share in the comments.

Red Alert

Our daughter was born seven days before my 31st birthday. While pregnant with her, my OB/GYN referred to us as a geriatric pregnancy. Has a bit of a negative connotation, don’t ya think? I prefer to think of us as trendsetters because these days plenty of women are following in our footsteps. At the time, I hoped that within twenty-five years society would evolve to the point where it’s easier for parents of minor-aged children to work full-time. The deadline to fulfill that hope is January 2022. Looks like I’m going to be disappointed.

Acknowledge

The corporate sector has done little to address this issue, and as we discussed last week, bias against working mothers hasn’t changed much in 25 years. Since the pandemic spotlighted their plight, now is an opportune time to use that momentum and advocate for permanent changes with employers for both mothers and fathers. Child care is necessary for parents to work. Work is necessary to drive economic recovery from COVID-19. More than half of the parents who took this survey anticipate that the cost of child care will increase because of the pandemic. The child care crisis is now a red alert and it affects all of us.

Communicate

If you are a parent in the workforce, the pandemic probably taught you the necessity of work-life integration, especially if your children are very young and/or school-aged. For example, the need for your physical presence when your child is an infant is not the same as when that child becomes a teenager. Even if your work responsibilities don’t change during those years, where and when you do the work can. Gone are the days of sitting in an office for eight hours waiting for work to appear. Work happens 24/7/365; so does the rest of your life. Figure out where your boundaries are, then communicate and negotiate them with your manager. When your employer knows that you’ll write the quarterly report after your daughter goes to bed in exchange for attending her soccer game that afternoon, they should respect your work-life integration. If they don’t, then you can find an employer who will. Right now there are more jobs available than people to fill them. You need to be in an employment situation where you can have transparent, on-going conversations with your manager (e.g., performance reviews) where the goal is to define both what the company currently needs from you, and what you need from the company in order to meet its needs. The result should be an arrangement benefitting both you and the company. If you and your employer are both fair and flexible, not only will you successfully integrate the responsibilities of your life, but you, your employer, and your children will benefit also.

How does your business address the needs of working parents? Please share in the comments.

The Motherhood Penalty

During a networking lunch with a female colleague, we chatted about our grown-and-flown daughters. We have four between us and love them more than life. I said, “I think being a working woman in America is a challenge, but being a working mother in America is a problem. Having children is a luxury.” She replied, “Or a liability.” That’ll preach. She said out loud what plenty of people think but don’t publicly acknowledge because we’re afraid of either hurting our children’s feelings or being harshly judged by our peers.

Research reveals that when both a man and a woman are up for the same job, gender is a factor in who gets it. The general perception is that a man can focus on the job, while a woman, specifically a mother, will be distracted by her circumstances outside of the job. This unconscious gender bias is called The Motherhood Penalty.

It can show up in how managers talk to each other about their direct reports. For example, on Monday a department head comments that Joe is a good example to his children because he worked all weekend to finish a project, but when Jane does the same thing, this department head worries aloud about who is taking care of her children. Also, think about positions in your business that require travel. Are there more men in those jobs than women?

A woman doesn’t have to be a mother to get penalized. Assumptions regarding women’s lifestyle choices are common. Some prejudice is so ingrained and subtle it occurs unnoticed until a vice president looks around the company and wonders why there are so few female directors. To get promoted to director, you first have to get promoted from individual contributor to manager, and that’s the problem.

The solution falls heavily on Human Resources. They possess the data and are in the position to ask questions about what it reveals. For example, if the organization has historically promoted more men than women from individual contributors to first-time managers, why? The answer may require an assessment of the performance review process to bring gender bias into the company’s collective consciousness. You can look at quantifiable statistics like skillsets and who consistently met their departments’ KPIs. But anecdotal evidence must be gathered too. Are female employees held to a higher standard than male employees in the same role? Are female employees’ mistakes criticized more and remembered longer than male employees’ mistakes?

Assuming it’s more risky to fill a leadership position with a woman instead of a man is false speculation. Anything could happen. The man could take all the leadership development you give him and go work for your biggest competitor. When organizations advance the person most qualified for the job and provide reasonable support for that person, everyone benefits; especially the clients.

How do you see The Motherhood Penalty at work? Please share 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.

Never and Always

The timing never seems right for investing in long-term financial goals. There is always an immediate expense: post-pandemic vacations, post-pandemic work clothes, post-pandemic baby supplies. It’s hard to think about the future when today’s competing priorities are so loud, but when you give money to financial instruments, properties, or shares with the expectation of making a profit, not only can you withdraw these profits if you lose your job (be aware of the penalties), you can also save faster for big expenses like a house or college. It pays to get started.

Strategize

Define your targets, timeline, and tolerance. Investing has two extremes: aggressive (high risk and high return) and conservative (stable and lower return). You don’t have to choose one or the other. You can stay in the middle and adjust your strategy as you age, change jobs, or your lifestyle evolves (e.g., you marry or have a child).
Use a fiduciary (an organization legally bound to act in your best interest). Talk to them about their strategy. For example, Do they automate investing using retirement date algorithms or do they create a portfolio according to your specific needs?
Decide. Will you actively invest: research, build your portfolio, purchase investment vehicles? If you choose this option, invest in more than one company. Spread your money over a few market sectors; diversifying reduces the risk of loss. Don’t fluctuate your investments with the rising and falling of the stock market or your emotions. Or will you passively invest: hire a wealth manager to do those things for you? If this is your choice, check their fees. Investing is a service, even for roboadvisors. Be aware of what you’re paying for. Know how your investments are taxed. Watch your statements monthly or quarterly. Ask questions about charges that don’t make sense to you.
401(k) Plan. If your employer offers one, participate; especially if they match the percentage you invest. If you don’t, you’re leaving free money on the table! Your contribution comes out of your check before you receive it, making it relatively painless to save that money for later and it has tax benefits.

Budget

Manage your money in this order:

Pay off high-interest debt, like credit cards
Save $1000 in an interest-bearing account for an emergency fund
Save another $1000 and invest it

That’s the sweet spot for beginning investors. It’s a relatively small sum to risk and $1000 is often the amount at which lower service fees and a decent return on your investment intersect. Here is an article that speaks plainly about different options for investing $1000.

Interest

The US stock market has historically provided a 6%-7% return on investment (that’s with inflation factored in). Initially that doesn’t seem like much, but your goal is to create wealth over time. When you let investments like CDs, treasury securities, or REITS compound for years, the interest they earn snowballs. This is especially useful if you start investing when you’re young because you have longer to ride out market fluctuations. On the other hand, when choosing a loan, look for one that offers simple interest. You usually find it on loans for large amounts like car, home, or student loans. Simple interest calculates payments based on the principal instead of both the principal and interest.

What holds you back from long-term financial investments? Please share in the comments.

Reservation Highly Recommended

Dad and Me Father’s Day 2021 Photo by MSH

During one of my networking groups last week, we discussed what we learned from the men in our lives in honor of Father’s Day. My dad unintentionally taught me the power of follow-up. In a conversation he habitually listens more than he talks, asks engaging questions, and, even if it’s weeks later, texts or calls for an update. You’d assume the follow-up would be the most powerful part of the process, but no. It’s the listening. If you’re just listening to reply, you’ll jump into the conversation at your first opportunity. But if you restrain yourself and listen to understand, (e.g., repeat what the speaker said back to them, ask investigative questions) you build trust. Acting with restraint is useful in many work situations.

Social Intelligence

Robert Greene advises “Never outshine the master.” You may be smarter than your manager when it comes to the assigned task, but if you push back too hard, you reveal that you lack social intelligence. For example, once upon a time I was in a brainstorming meeting with a group of five people: an executive, his assistant, and two of my teammates. The exec kept falling down rabbit holes and I kept pulling us back with the same phrase, “So, the goal is zero waste…” The third time I said it, the exec seemed embarrassed. By the fifth time I said it, both the exec and his assistant were annoyed and my teammates were uncomfortable. In demonstrating I knew what the goal was, I exposed that his ideas would not achieve it. Remember the cliche, don’t bite the hand that feeds you? When applied to work, don’t break the finger of the hand that signs your paycheck.

Emotional Intelligence

Let’s say our team missed a deadline because you spent more time on social media than working on our project. If I pointed this out, how would you react? Would you get defensive and lash out? Or would you take a few deep breaths and ask for a safe place outside your workspace to store your phone while you’re working on our project? The latter choice shows restraint. Reacting out of ego won’t serve you in the long run. Humility is strength, not weakness. You fell into temptation. Get up, make the necessary adjustment, and keep going.

Business Intelligence

Creative freedom is an oxymoron. Freedom leaves choices wide open. You’re more creative when given parameters like a direction, deadline, or dilemma to solve. In other words, a restraint. For example, I’m constantly looking for ways to promote brand awareness that won’t break my budget. The views on the company’s social media pages go way up when I post photos or videos of our dog. Thus, “Tails From the Home Office,” a photo/video series starring my adorable-but-less-than-helpful “assistant” was born. Restraint is also crucial when searching for B2B clients. No one wants to miss a lead, but lack of focus denies you a priority. BTW, Priority implies one. If you have multiple priorities, then you don’t have any. Define yours and filter decisions through it. If your sweet spot is fast-growing manufacturers with 50 or fewer employees, build relationships with them. Don’t let FOMO cause you to miss those you serve best.

How has showing restraint helped you get ahead at work? 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.

FOMO on Steroids

With 391 million people fully vaccinated for COVID-19 worldwide (as of May 24, 2021), the light at the end of the pandemic tunnel is no longer attached to an oncoming train. People are emerging and testing their environment as herd immunity progresses. Americans lucky enough to remain employed have collectively saved about $1.7 trillion from the beginning of the pandemic through January 2021. The savings are mostly by default because they couldn’t spend it on travel, in-restaurant dining, and concert/sports/show tickets.

You not only saved up your money, but also your desire to spend it. The flood gates on both are about to open as COVID restrictions lift. Scarcity created FOMO and with freedom returning, you’re tempted to spend those savings on extravagances. For example, a year ago you didn’t realize how badly you wanted Crisp Morning Air scented hand sanitizer until it was sold out. Now, when you’re thumbing through Instagram and up pop photos of a friend posing in the middle of Times Square, you want to fly first class to New York and stay at The Ritz-Carlton. The phenomenon of spending money with abandon in an attempt to make up for lost opportunities during the lock down has a name: Revenge Spending.

All the money you would’ve spent in 2020 and couldn’t (thanks, COVID) is now burning a hole in your pocket. All the activities you wanted to do but couldn’t (thanks, COVID) now make you feel you have a lot of catching up to do. You want to take the trips you missed, replace the sofa you inherited from your parents’ downsizing six years ago, buy new work clothes to wear back to the office because your old work clothes no longer fit (thanks, COVID). You feel like you’ve been robbed of a year’s worth of experiences and are in a frenzy to make up for lost time. If you have a job, very little debt, and a stimulus check, you’re very tempted to spend. A little splurge is understandable, but letting “treat yo self” get out of control can quickly empty your bank account.

The point of Revenge Spending is to make yourself feel better mentally and emotionally; a little retail therapy for all the isolation you had to endure last year. But if you blow all the money 2020 saved you, you defeat the purpose of Revenge Spending by mortgaging your future. Haven’t you suffered enough? To keep yourself in check:

Control the Splurge – Set a limit (maybe a stimulus check or two) and try to spend it locally. Use a local travel agent, go to local restaurants, jewelry stores, concert venues, etc.

Use Your Points – If you have a credit card that accumulates points and you’ve racked them up buying gas, groceries, and take-out during the pandemic, use them where possible to pay for upgrades. For example, fly business class instead of economy, book a 5-star hotel instead of a 3-star, fine-dining instead of casual. Using the points gives you the experience you want while making your fun fund last longer.

Tap the Brakes – It’s easy to go online and immediately start booking and buying. When you’re about to purchase something you can’t live without, bookmark the site and revisit it in 48 hours. If the feeling is still as strong and you can afford it, go for it.

Walk Away – When you see social media posts of your friends Revenge Spending, put down your device.

Keep Going – Maintain the good savings habits you were forced to adopt in 2020, like retaining an emergency fund.

Party Like It’s 2019 – What did you plan to spend your discretionary income on in 2019? If you stick to that budget, the odds you’ll keep your 2020 savings increase.

Have you done any Revenge Spending yet? What is the first thing you bought? Please share in the comments.