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Tuesday, March 22, 2011

The Work Buzz's Latest News: How your career can benefit from Jay-Z



The Work Buzz's Latest News: How your career can benefit from Jay-Z


Posted: 21 Mar 2011 02:38 PM PDT
I recently came across Zack O'Malley Greenburg's book "Empire State of Mind: How Jay-Z Went from Street Corner to Corner Office." I have to admit that I didn't know if a hip-hop icon had much to teach me (aka a regular worker) about succeeding in our respective fields. But seeing as career books often begin to sound alike when you read the summaries on the flap, I couldn’t pass up this interesting angle. Plus, he’s just a good artist.
I didn't doubt Jay-Z was a prime example of success. His picture might as well be next to the Wikipedia entry on "living the dream." Whether or not you're a fan of his music — and between "Empire State of Mind" and "Izzo (H.O.V.A.)," you have to like at least one of his tracks — you can't deny that the man has been able to achieve and exceed his goals. Jay-Z (née Shawn Corey Carter) has countless hits, co-founded Rocawear clothing, co-owns a basketball team, and was an executive of two different record labels. Oh, and Oprah picked his book to be one of her favorite things, which is about as coveted an endorsement as you can hope for.
But after reading Greenburg's book, I have to admit I understand why he makes a superb guide for your career, even if you are looking to be an investment banker or grocery store manager instead of a hip hop legend. If you look at what Jay-Z has done with his career, you might realize that what made him successful is what makes many great leaders successful.
Below are five lessons that I think we can all learn from Jay-Z's career:
1. Find something your passionate about and make it part of your life
What Jay Z did: Jay-Z is a sports enthusiast. He's a proud Yankees fan and he's been a courtside fixture at NBA games for years for The Cavaliers, Knicks and Lakers. Not content with just being a fan, Jay-Z assembled a team (that included Lebron James) in 2003 to play in Entertainers Basketball Classic (EBC) and then became a co-owner of the New Jersey Nets.
What you can do: Many of us are sports fans, but few of us have the bank account and business savvy to own an NBA team. However, we can find a way to make one of our passions part of our everyday life, even if your interest doesn't fit within your current job. For example, if you are obsessed with politics but you work at a clothing store, you should leave your opinion of Congress at home. But that doesn't mean you can't start your own political blog or become a contributor to another one. That way you can immerse yourself in a subject you love and still improve your analytical and writing skills. You never know what will become of your side venture — maybe a new business opportunity. Maybe nothing will happen beyond gaining readership, but at least you'll have space where you can indulge your passions.
2. Market yourself
What Jay-Z did: One of the other reasons Jay-Z decided to assemble that basketball team in the EBC? He knew it was great marketing. He branded a bus with the image of a sneaker he designed for Reebok, had the team tour in it, all while his music blared. And then they'd celebrate at the club he owned in New York. It was his project from top to bottom and he wasn’t afraid to promote it.
What you can do: The odds are slim that somebody will walk up to you and say, "Wow, all that great work you do? Unbelievable! Let me offer you this high-paying job that is perfect for you." Instead, make sure you let your boss know when you perform well. Don't brag, but forward any positive feedback you get from clients or colleagues
If you're looking for a job, piece together an impressive portfolio or résumé. Think about the awards you've won, leadership positions you've held, and references who will speak glowingly about you. Don't play meek when it comes to finding a new job because employers don't have time to beg you to talk about yourself. Impress them from the beginning. (And if you can afford to plaster your face on the side of a bus, go ahead.)
3. Know when to move on
What Jay-Z did: In 2003, at the peak of his career (up to that point), he decided to retire. Barely 34, Jay-Z felt he couldn't top himself, so he decided to walk away. (That said, he un-retired a few years later, which is something we have criticized before, too. So don't cry "wolf" either.")
What you can do: Jay-Z retired, but most of us don't have that luxury right now. However, if you're just going through the motions and the excitement and passion you once had are lacking, then don't be afraid to look around. Maybe you need to talk to your boss, find a new job or get into a new industry. Whatever is right for you, make that move. If you're spending 40 hours each week doing a job that bores you, then you're wasting a lot of your life. You’ll be so much happier and more productive if you’re interested in what you do.
4. Be willing to shake things up
What Jay-Z did: When Jay-Z took over Def Jam records in 2005, he couldn't believe that the business model hadn't changed for decades, and employees had no incentive to work hard. He wanted to see people trying new things — taking risks and competing to be more innovative than the other. So he held a retreat with the employees, told them what he wanted, and then began to transform the organization. Greenburg notes how people were intrigued by the fact that Jay-Z wanted to learn as much as he could about the business.
What you can do: When you're not the boss, you can't revamp the organization. But workers can get the attention of the boss and other leadership by coming forward with new ideas. If you're the person interacting with customers every day, you know when the process can be improved and what would make your job more efficient and maybe bring the company more money. Always be respectful, but don't be afraid to be bold once in a while. It can be the only way you stand out sometimes.
5. Manage your private life
What Jay-Z did: Jay-Z and Beyoncé are basically music royalty, and when they began quietly dating, everybody wanted to know about it. Yet, they wouldn't comment on their romance, and even to this day the married couple is tight-lipped about any personal information. Therefore you hear more about his and her music than about their personal lives, unlike some famous people.
What you can do: You don't need to keep your marriage a secret from your manager, unless you want to, but your weekend partying or marital bickering don't belong at work. Often, professionals decide to post Facebook photos of their drunken adventures or get into a big fight with a spouse over the phone so that the entire office hears. Suddenly your personal drama overshadows your hard work. Remember that your professional reputation is a significant factor in promotions, raises and even layoffs. Don't let a killer keg stand undo your years of hard work.
Of course, there are a lot of other things Jay-Z's done right in his career, so I suggest checking out "Empire State of Mind." It's especially refreshing if you're a music fan and/or someone who's not keen on the typical career guides.
Do you have any other surprising career role models that inspire you? Let us know.

Monday, March 21, 2011

The Work Buzz's Latest News: The Q&A session you always wanted to have with your boss



The Work Buzz's Latest News: The Q&A session you always wanted to have with your boss


Posted: 18 Mar 2011 11:47 AM PDT
I’ve seen my share of holiday office parties and happy hours, where everybody has had a few cocktails, and suddenly the entire department is hugging and singing “Sweet Caroline.” For those few hours everybody thinks they’re friends with everybody else, and the normal facade of professionalism drops. And people are more honest than usual. Perhaps more honest than they should be. (“I never liked Glen from technology, but I really like you, Felicia. I really, really do.”)  And then the next day everybody goes back to being their buttoned-up selves.
Now, the one good thing about those kinds of gatherings are that people are saying things that they’ve been holding back. You get a better sense of people and see that they have their own opinions about the company and its policies. It’s a breath of fresh air! But experiencing that type of honesty isn’t always easy or common.  For the sake of your career, we’ve got a guest blogger today who is that honest.  Author Hank Gilman calls himself an accidental manager, meaning that he’s someone who rose through the ranks of his profession without setting out to be the boss. That’s why he knows the mindset of everyday workers like us and also understands the quandaries new mangers find themselves in. Fortunately, he’s answering the questions many workers have but can’t ask.
So skip the appletinis at the next happy hour and listen to Gilman’s advice instead.
I've been a boss in the media business for more than two decades now. It's kind of simple job in the sense that there are only a few basics involved in doing it well. (Other than not being a sociopath.) You give feedback. You hire. You fire. You dole out raises — or you don't. It's a great gig, really. The pay is good and your troops pretend, for the most part, that they like you. Unfortunately, employees don't have it so easy. They have no clue, much of the time, what makes their supervisors tick. And, as a result, they worry too much about what the heck their bosses want from them.  I recently wrote a book called "You Can't Fire Everyone: And Other Lessons from an Accidental  Manager." The few people that read an early version—the ones that report to me anyway — said pretty much the same thing about various parts of the book. That is: "I didn't know you thought THAT!" I had no idea I was so mysterious. But, in that spirit, here are some questions, and answers, from me that will help you tap the inner-mind of your boss and, hopefully, manage your career a little better as a result.
Feedback: Should I ask my boss for more?
Yes.  But proceed with caution. Just between us, I'm not the biggest hand-holding guy on earth. I guess that's because, back in the day, I never liked spending much time with my bosses. I figured the less I was around, the lower the odds were they'd stick me with projects I wasn't keen on. (It's the out-of-sight-out-of-mind thing.) Here's the way I looked at it: I came up with ideas, did the research, and wrote the stories. If they were published and I got raises, that was enough feedback for me — thank you very much. That said, there are a few things you should know.
First, many bosses are spineless and actively avoid confrontation. Nor do they like to deliver bad news. It's human nature. Basically, your supervisor won't feel compelled to give you feedback unless you've done a terrific job or totally choked. (The later because they really have to.) Unfortunately, it's the stuff in the middle that you need help with.  So, you're going to have to ask. Nothing wrong with finding out how you could have done a better job on a specific project. Tossing around ideas is always great fun. The caveat?  Don't be whiny and needy on a frequent basis. Many years back, I had a writer who felt compelled, every other day it felt like, to walk into my office and ask why he wasn't getting enough feedback on his work. I think I finally cracked and said something like,  "Ok, here's some feedback. You don't come up with many good ideas. And when you do the stories aren't good enough to publish." Well…he asked.
Can you be friends with your boss?
Maybe. In an old episode of the TV show, “The Office,” Steve Carell's character, Michael, said to a new employee, and I paraphrase, "My number one job is being your friend." If only. Sure, people who spend a lot of time working together become friends, even if it's a boss-employee thing. That's the way it is. But there's a silent code of conduct: You should not expect a raise because of the friendship; you should never take advantage of that friendship for better assignments or a promotion (or expect either); you shouldn't anticipate employment in perpetuity. If you follow the code, you'll be OK.
For you corporate ladder-climbers out there, the bigger problem is when you become the boss and have to supervise your friends. Back in the 80s, when rock bands like Huey Lewis and the News ruled the airwaves for some reason, I was named the business editor of the Sunday Boston Globe. My pals in the newsroom seemed like they were ready to throw a party. Come to work late? Check. Longer lunches? Check. Softer deadlines — or any deadlines? Check. Well, I'm exaggerating a little, but not much. Some of them actually thought those things. I was tested immediately. A close friend turned in a poorly-written story that she must have wrote on the subway on the way to work. I figured out pretty quickly that if I didn't fix it, it was my job that would be on the line.  So, I re-wrote the story and she bitterly complained to my boss. I think she said, among other nasty things, that I was an idiot. But as far as my boss was concerned, I passed my first test.
(Note to future bosses: It's either you or them, and it might as well be you.) There's kind of a happy ending to all this, by the way. We remained kind-of-friendly. She invited me to her wedding. I think I ended up at the "cousins" table, though. As Antarctic explorer Sir Ernest Shackleton once said, "Loneliness is the Penalty for Leadership." Yup. He was right.
Do bosses get angry when you ask for a raise and resent you forever?
No. Not the good ones anyway. This is one of the great myths of the boss-employee relationship. Now, I'll confess, I never asked for a raise in my 35-year work-life. Partly because I was always afraid of getting fired– and partly because I always felt lucky to be paid to write about people who were actually doing more important things than I was doing. But that's just me. No one is going to think badly of you or have you escorted from the building. You'll get the raise because you deserve one and your boss wants to keep you happy; or your boss might tell you that money is tight and be patient, which is often true. Or, in an act of ultimate feedback, she'll just say "no," wave you off and quickly take a phone call. (Even when the phone's not ringing.) Then you'll know it's not a raise you should be worried about.
If you get a job offer– and tell your boss you're considering it– should you polish up your Linked-In profile?
No. That's another myth. It's certainly a pain in the rear when one of your employees comes in with a job offer in hand. But it's a little flattering in a way. (I know a few of our competitors that nobody will recruit from.) It also lets us, the bosses, figure out how much we really want you.  And it helps you figure out how much you really want us. Just don't do it on a serial basis if you really do like where you work.  Because if it is an "I can get a raise out of this" trick, it works only a few times. And only if you're a bona fide star. And, before I forget, don't ever tell your boss about a job offer and not be prepared to [accept] it. There's a good chance you might not like the response. Like: "What a great opportunity! Keep in touch." They might not view you as an "A" player or may not like you or both. Or they had their eye on someone on the outside and you just helped them, as they say in the National Football League, clear out some cap space. Just pointing that out.
Hank Gilman is the deputy managing editor of Fortune. This blog is inspired by his book, "You Can't Fire Everyone: and Other Lessons From an Accidental Manager." (Portfolio / Penguin) On sale now.

Friday, March 18, 2011

The Work Buzz's Latest News: So you want to be the boss?



The Work Buzz's Latest News: So you want to be the boss?


Posted: 17 Mar 2011 08:44 AM PDT
Or, perhaps a better question is: Who doesn't want to be the boss? In addition to higher pay, managers typically experience more power, prestige and freedom than their junior-level counterparts.
Chances are, if you got offered a promotion to a management position, you'd enthusiastically accept. But along with the glory of being the boss comes a lot of responsibility … responsibility that not everyone is ready for when they take on a leadership role.
According to a new CareerBuilder survey, one-in-four managers reported that they weren't actually ready to become a leader when they started supervising others – a figure that’s not entirely surprising.
"Any supervisory job is dramatically different from a non-supervisory role," says Dennis Kravetz, author of "Measuring Human Capital: Converting Workplace Behavior into Dollars." "For example, non-supervisory engineers need to have a variety of technical engineering competencies, accountants need technical accounting skills, etc.  Employees are trained for this at the college level and their performance at a non-supervisory level is based on how technically competent they are in their field."
In a management role, however, Kravetz says the necessary skills for success are entirely different. "Supervisors primarily need people competencies (developing others, handling conflict, scheduling work, etc.). Engineers and accountants had zero college courses in areas like this and no on-the-job training either. The net result is that these people are often lost in the job of new supervisor," he says.
Indeed, it seems that the areas most managers struggle with are primarily those that are people-centric. According to the survey, managers reported having the most trouble with the following:
  • Dealing with issues between co-workers on my team – 25 percent
  • Motivating team members – 22 percent
  • Performance reviews – 15 percent
  • Finding the resources needed to support the team – 15 percent
  • Creating career paths for my team – 12 percent
A successful transition into a supervisory position can be made, though, even if you don't have any leadership experience. Here's how to prepare yourself for leadership, and what not to do once you get there.
According to Kravetz, doing the following will increase your potential for management success:
  • Take available classes targeted for new supervisors. If these are not offered by your employer, find them through professional management associations, college continuing education classes and other vendors.
  • Identify effective supervisors where you work. Model yourself after them. Ask them if they could mentor you on how to be a good supervisor.
  • Seek out team leadership and project leadership roles even when you are not assigned to this role. Learn from the experience.
  • Seek out your current supervisor for an informal assessment of your strengths and weaknesses as a potential supervisor and work on your weaknesses.
  • Read practical, how-to books on being a supervisor. (Kravetz wrote two such books "The Directory for Building Competencies" and "The Competence Builder" that help people build competencies in any area.)
On the other hand, once you're ready for a management role, make sure to steer clear of any of the below behaviors, which, according to the CareerBuilder survey, are the top concerns workers have with their bosses:
  • Playing favorites – 23 percent
  • Not following through on promises – 21 percent
  • Not listening to concerns – 21 percent
  • Failing to provide regular feedback – 20 percent
  • Not keeping employees motivated – 17 percent
  • Not facilitating employee development – 17 percent
  • Only providing negative feedback – 14 percent
Are you a manager? How did you learn to be successful? What important lessons have you learned about leadership? Tell us in the comments section, below.
Want to know more about leadership roles? Check out:

The Work Buzz's Latest News: Employers fear St. Patrick’s day will kill workplace productivity



The Work Buzz's Latest News: Employers fear St. Patrick’s day will kill workplace productivity


Posted: 16 Mar 2011 01:13 PM PDT
We've told you about the most unusual excuses workers have had for calling in sick and coming in late to work, but it looks like we’ve stumbled upon a new one. Post-holiday hangovers.
According to a recent survey from Irish human resources consultancy Peninsula Ireland, nearly a third of employers there expect that some of their staff will call in sick this Friday, due to hangovers caused by enthusiastic drinking during St. Patrick's Day celebrations. Almost all of the 626 employers surveyed (94 percent) fear that productivity will decline on March 18th.
“St Patrick’s Day is a huge celebration for the people of Ireland, but for many bosses the following day is one of lost productivity, something they could do without in the current economic climate," Alan Price, managing director of Peninsula Ireland, said in a statement. "With the following day being a Friday, many employees will be looking to pull a sickie in order to have a long weekend to get rid of their heavy hangovers.”
Price went on to say that employees who do so should be disciplined in the same way they would be any other day. (As much as we love the term "sickie," we must agree with Price on this one.)
Workers in the patron saint’s native land aren't the only ones who will be tempted into over-consumption though. New York City is celebrating the 250th anniversary of its St. Patrick's Day parade, Boston has more than 100 Irish pubs in its vicinity, and it's been reported that bars in Phoenix and elsewhere will be opening as early as 6AM on March 17th, presenting plenty of opportunity for bad decisions on this side of the pond as well.
While we won't be a total buzz kill and suggest you skip the green beer altogether, if you do plan to partake in St. Patty's parties, we do recommend moderation and keeping the following in the back of your mind: According to CareerBuilder's latest survey on calling in sick to work, 70 percent of employers require a doctor's note from "sick" employees, 29 percent check up on employees who call out of work and 16 percent said that they've fired an employee for calling in sick without a proven or valid excuse.
For more on calling in sick, check out:
“A chicken attacked my mom” and other reasons you called in sick
Nuttiest excuses for being late to work

Wednesday, March 16, 2011

The Work Buzz's Latest News: Companies hiring this week



The Work Buzz's Latest News: Companies hiring this week


Posted: 15 Mar 2011 10:13 AM PDT
If you’re superstitious, you’re probably bewaring the Ides of March today. As a result, you’re likely trapped inside your home today, not answering calls from your pals who just want to take out you for a nice dinner.
So, while you have time to spare, why not spend the day job hunting? We’ve made it simple for you. Here are 10 companies hiring this week:

1.Morgan Stanley
Industry:Information technology
Sample job titles: .Net (C# / SQL Server) senior distributed developer, senior database developer
2.American Senior Communities
Industry: Nursing
Sample job titles: Assistant director of nursing, certified nursing assistant
3.Dr. Pepper Snapple Group
Industry:Sales
Sample job titles: Merchandiser, account manager
4. EarthLink Business
Industry:
Telecommunications
Sample job titles: Technical support analyst, warehouse technician
5.Iron Mountain
Industry: Transportation
Sample job titles: Courier, transportation coordinator
6.Pharmerica
Industry: Pharmaceutical
Sample job titles: Pharmacy technician, consultant pharmacist
7. Adidas
Industry: Retail
Sample job titles: eCommerce product analyst, sales associate
8.Netflix
Industry: Manufacturing
Sample job titles: Operations supervisor, machine operator
9. Guaranty Bank
Industry:Banking
Sample job titles: Branch manager, personal banker
10. Hyatt
Industry:
Marketing
Sample job titles: Corporate manager of digital media, manager of international digital media and strategy

Tuesday, March 15, 2011

The Work Buzz's Latest News: How to find a mentor and increase your odds of career success



The Work Buzz's Latest News: How to find a mentor and increase your odds of career success


Posted: 14 Mar 2011 12:36 PM PDT
There's a simple secret to the success of some of history's most accomplished people. They've had incredible mentors.
Bill Gates has one in Warren Buffet. Oprah Winfrey has one in Maya Angelou.  Yves Saint Laurent had one in Christian Dior. Aristotle had one in Plato, who had one in Socrates — and the list goes on.
Yet mentorship, while consistently cited by leaders as one of the most beneficial "get ahead" tools for the working world, also seems to be one of the most under-utilized, both by individuals and the companies they work for. According to a recent survey by consulting firm Accenture, fewer than one-third of those polled (32 percent of women and 31 percent of men) reported having a formal or informal mentor, and only one-in-five respondents said that their company had a formal mentoring program in place.
Additionally, when asked what tactics they'd previously used to move their careers forward, only 19 percent of workers said they'd used mentoring as an advancement strategy. In comparison, 59 percent had sought additional training or education, 55 percent had taken on additional responsibility at work, 37 percent had asked for a raise or promotion, and 30 percent had used networking to get ahead.
The relatively small number of workers with mentors is especially surprising considering the list of benefits to be gained from these relationships. According to the survey results, the following were the most common perks cited by those in a mentorship:
  • Mentor provided guidance and advice — 81 percent
  • Mentor helped plan career moves — 45 percent
  • Mentor acted as a sounding board — 43 percent
  • Mentor publicly supported/endorsed mentee for a promotion — 32 percent
Think you could use a business mentor, but not sure how to find one? Here are a few things to keep in mind as you set out on your search:
1. "Mentors" and "role models" are different:  It's great to have people that you can look up to in your career, but these role models are different than formal mentors. "Professionally, there is room for formal mentoring relationships and role models," says Dave Sanford, an executive vice president at staffing firm Winter, Wyman. "[But] I think mentoring is more of an active process — there is open communication, you can share personal information and not feel judged or fearful of jeopardizing your career. With a role model, it's more that a person is leading by example. They demonstrate ways to do things and ways to behave. A role model might not even know they are being viewed as such; it's more of passive process."
2. Don't choose your boss: Your boss can serve as an excellent role model in your career, but be wary of entering into a "formal" mentoring relationship with your direct supervisor. "It may feel like your boss is too close professionally to serve as a supportive mentor," Sanford says. "For example, if your boss had to press you for performance improvement; sometimes it can get muddy and that may create reluctance. While a mentor needs to understand who you are and what you do professionally, chances are, they are a few steps removed from your day-to-day work, enabling their feedback and advice to be clean and unbiased. Mentors can come at things from a unique and very helpful vantage point."
Additionally, you should be able to be candid with your mentor about your desired career path and your goals. Doing so with your boss could create a direct conflict of interest when you're ready to move on from your current position.
3.  Look for someone in your field: A great mentor will be able to provide you with advice and guidance when it comes to your career. A really great mentor will also be able to introduce you to other valuable connections in your industry. Choosing someone who is not just a great leader, but a great leader in your industry will provide these extra networking benefits. 
4. Test the waters: Have someone in mind but not sure if they're interested in being a mentor? Test the waters by telling the person that you value his or her opinion, and ask if they’d mind giving you advice about a career predicament you’re having. If the person is eager to help, he or she will likely be open to the idea of becoming a mentor.
5. Don't be afraid to ask: "With the demands of the workplace, you will likely need to ask someone to serve as a mentor as they may not have the time or inclination to suggest it themselves," Sanford says.
While the fear of rejection might make your nervous, chances are, your risk will be worth it.  "Professionals are usually very open to mentoring — it's a great compliment as it shows that you respect the person and value his or her opinion and way of doing things. More than likely, they will accept and feel pleased to have been asked," he says.
If they do happen to decline, don't take it personally. "The reasons are most likely due to not having the time to properly devote to the mentoring role," Sanford says. Keep searching until you find someone who does.

Sunday, March 13, 2011

Moola Days



Moola Days


Posted: 11 Mar 2011 10:03 PM PST
Getting your kids to save money can seem like a challenging proposition. Let’s face it: kids are being brought up in a very materialistic, “keeping up with the Joneses” type of society. They see all kinds of cool toys and gadgets on TV, and they think they have to have them too. The unfortunate fact is that most kids are not being taught how to save that all. For this reason, it’s going to be completely up to the parents to teach their kids how to save for the future and why it’s so important. Here are 10 quick tips for teaching your kids how to save money.
1. Show them the bills: It’s very important for parents to be realistic with their kids. This means sitting down with them when they’re at a reasonable age and showing them how bills work. If you have to write it down on a dry erase board and explain to them income and outgoing bills.
2. Splitting up their cash: When a child receives money for their birthday or by way of allowance, get them into the habit of taking a certain portion of that to save. Explain to them that the money is off limits and will be put into a savings account or piggy bank.
3. Set up an account: When a child hits the age of about six or seven, it’s important for the parents to take them down to the bank and have them set up a savings account. This is something that they can be proud of. Make a game so that they’re very excited about filling out their deposit slips to put money into the bank on a regular basis.
4. Get a digital savings bank: They’re all kinds of digital savings bank’s available that will count the child’s money and keep track of how much they are saving. Different than your traditional piggy bank, this will be something that a child can regularly look at and see how much money they are accumulating.
5. Help them set goals: If a child wants to purchase something on the expensive side, help them set a goal of how much money they need to earn in order to buy the item. Maybe they can cut out a picture or even draw one that they can hang on the wall to remind them of what they’re working towards.
6. Matching: Some parents opt to match their child’s savings as a way of keeping them motivated. Similar to how an employer will match a 401(k) contribution, offer to match a child’s savings dollars for dollar. This is a great way to work with a teenager who wants to buy a car!
7. Modeling: By far, the best way to show your child how important saving money is would be to model it in your own behavior. If a child grows up in a home where money is never discussed or the idea of savings is never brought up, they will have no idea how to handle their own financial affairs.
8. Talk about how to spend money: When your child wants to spend their money on something, have an open and honest talk with them about whether or not the item is really worth the money. For instance, if a child gets $50 from their grandparents for Christmas and wants to immediately spend it, work with them on deciding whether or not the item they want to purchase is worth the investment.
9. Talk about the future: As a child gets older, it might be worth it to sit down with them and show them how money grows using compound interest. Kids are often amazed to see how much money grows over time if you just leave it alone!
9 Quick Tips for Teaching Your Kids to Save Money is a post from: Moola Days


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