Friday, 3 February 2017

7 Things to do While out of Work



According to data provided by the Bureau of Labor Statistics, as of May 2016, The United States had an unemployment rate of 4.7%, which correlates to over 7.4 million people who are currently unemployed.  I personally have experienced losing a job and being unemployed for nearly 6 months. If you are like me there is a good chance that you have been without work at some point, or if you haven’t there is a chance that you may experience it in the future, although I hope you don’t!  Being unemployed is certainly not a good feeling, and sometimes finding a new job is not always the easiest task and often it is easy to get discouraged during that time.  Having my own personal experiences and after speaking with others, I have composed a list of 7 things that you can do while your unemployed to stay in good spirits and help to get back on your feet as soon as possible.

READ
One the best things that you can do while you are unemployed is Read! In fact, this is something that you should do working or not.  Reading more books can have a huge impact on your life, especially if you are in search for work.  One of my favorite quotes is “the more you learn, the more you earn.” I also want to point out that Lamborghinis and Rose Royce’s do not have commercials and one reason is because wealthy and successful people don’t watch a lot of TV, however they do read early and often.  With the extra time on your hands from not working, there is no better thing to do than to pick up a book!!  Proceed with caution, depending on what books you read, you may end up starting your own business instead of going back to work.

VOLUNTEER
The next activity that I would suggest while unemployed is volunteering.  This is also something that I would encourage to do whether you are working or not.  Volunteering can have multiple benefits.  One positive effect is that you would be doing a good deed in giving back and helping others.  Being that you are unemployed you may not have extra money to give, and often giving your time can be more valuable.  The second benefit is that in volunteering there is always a good chance you could come into contact with someone who may know of some job opportunities and could possibly plug you in.  The last positive result, is the great feeling that you get from lending a helping hand.  The best rewards in life are often not of monetary value.  Being jobless does not bring too many good feelings, and volunteering can definitely uplift your spirits during that time.

Related: A Survival Guide for the Newly Unemployed

JOB SEARCH
This is probably the most obvious thing that you should be doing while you have idle time.  I can personally say that searching for work is a job in itself, especially considering the amount of time that it takes.  In a given week you could easily spend 25-30 hours searching for jobs.  If you have intentions on finding another job, it most likely wont come to your front door steps, so its imperative that you search for work.  In todays day and age, much of this can be done online on your computer or even from your phone.  In many states if you are collecting unemployment benefits it is mandatory that you spend a certain amount of time job searching, and you also have to document that activity.


EXERCISE
A great way to help you stay in a positive mindset while being jobless, is to exercise.  This is another activity that you will give you a good feeling during a down time in your life.  Exercising will give you more energy and it will also help you build confidence.  There is a quote that says, “Health is Wealth”!  There is no coincidence that a large number of successful individuals make exercising a daily habit.  With the idle time on your hands there is absolutely no excuse on why you can’t make time to work out.  It will benefit you mentally, physically, and spiritually.

Related: 50 Ways to Get a Job

NETWORK
If you want to find another job without spending multiple hours online feeling out applications, then I would highly suggest networking!  People will always be your best resource and most people find employment because of someone they knew personally.  Hiring managers and recruiters review hundreds or even thousands of resumes, so if they have a colleague or coworker refer someone directly to them, that persons resume would surely get a little more attention.  By networking in the right environment, its possible that you could come into direct contact with a person who has the ability to actually hire you.  The only way that you will encounter this person is by building relationships and meeting new people.

SELF EVALUATION
Doing a self evaluation is something that I would recommend doing often.  Self knowledge and self awareness is extremely important in reaching a high level of success.  There is no better time to evaluate yourself than when you are unemployed.  You should assess your physical health, your current mindset, and also look at areas on which you can improve.  This is also a good opportunity to evaluate your progress in life.  Are you where you want to be? What things need to change? What new things do you need to learn?  Sometimes it is difficult to evaluate yourself because there are some things that we do like to admit about ourselves, and many times we already know in the back of our head that we could doing a much better job of reaching our full potential.  Evaluate yourself and be honest in your findings, only then can you begin to improve and make the necessary changes in your life.

STAY POSITIVE
The last suggestion that I would offer, is keeping a positive attitude.  This is definitely not always the easiest
thing to do while you are out of work, especially if you were fired or laid off from your previous job.
Although it is a challenge at times to stay in a positive mind state, it definitely beats the alternative.  No one wants to get invited to a pity party, so there is no use in throwing one for yourself.  When you really look at the big picture and realize that that things could always be worst, it will become a little easier to maintain that positive mindset.  If you are able to stay optimistic, you will increase the chances of your luck changing much sooner than later.
               
Related: Positive Affirmations Video

Monday, 30 January 2017

5 Questions To Ask Yourself Before Parting Ways With Your Hard Earned Money



When it comes to making a financial investment, it is something that you definitely want to put some thought into.  There are two things that people care very much about, their children and their money. In today’s world of investing and with a frantic world economy, there is even more reason that one should do the proper due diligence prior to making an investment.  We have put together a list of 5 questions you can ask yourself prior to parting ways with your hard earned money in hopes of returning more.

WHAT IS YOUR PRIMARY GOAL? 

The very first question that you should ask yourself prior to investing your money, is what is my main goal?  You could be investing for retirement, college for your kids, a house, a car, or perhaps you have some extra cash and looking for a fairly quick return.  Whatever the case may be, your investment objective should be clearly defined so that you can find a suitable investment.

WHEN WILL YOU NEED THE MONEY?

Before making a financial investment, you definitely need to know when you will have to access those funds.  This is important because you wouldn’t want to tie up your money for a long period of time if there is a chance that you may need the money sooner rather than later.  If you are investing for the long term and your investment fluctuates or happens to go down in value, you can rest easy knowing that will not need those funds in the near future.

Related: 10 Questions to Ask Your Financial Advisor

HOW COMFORTABLE ARE YOU WITH THE RISK?

This question is one that often gets overlooked; and if you are working with a financial planner, this should be one of the first things that they discuss with you.  Most credible companies have questionnaires available that help you identify your risk tolerance.  Most people are either extremely conservative, aggressive, or somewhere in between.  Answering the first question in regards to your investment objective, can also help you assess your risk.  If you find yourself having trouble sleeping at night because your investment took a negative dip, this may be a sign that you are more on the conservative end.

Related: Things to Consider before Making an Investment Decision

WHAT IS THE AMOUNT OF MONEY YOU CAN AFFORD TO RISK?

The next question to pose, is what amount of money are you comfortable investing.  I might also add, that prior to investing, it would be wise to have at least 3-6 months of living expenses already saved up.  Prior to making a financial investment, you should have clear picture of your finances so that you can make a smart decision in investing your dollars.  Perhaps your comfortable with making a one time lump sum investment, or you may prefer to invest an allocated amount each month.  Either way, make sure you find a situation that you are comfortable with.

WHAT IS YOUR EXIT STRATEGY?

Lastly, in making any financial investment, you need to have an exit strategy.  If you’re investing in stocks and you bought the stock at $20 per share, you may have decided to get out once it hits $40 per share, or when the stock hits $15 per share and you decide to cut your losses.  If you’re primary goal in investing was for retirement and you wanted to have $2,000,000 in your account, once you hit that mark you can exit.  Once you decide on your exit strategy do your best to stick to it.

Investing is a great way to build up your assets, and if done smartly, it can turn into another way to generate income.  The best way to earn money, is to have your money do the heavy lifting and work for you.  Remember to do your research and ask yourself the necessary questions prior to making a financial investment.

If you are looking for quality content in regards to Financial Education, Personal Growth, Development and Entrepreneurship you can contact us at The Alston Collab. We also help provide content and tips for Money management for millennials and Generation X