How Do You Use a Degree That Isn’t Very Specific?

Hello! Enjoy this post from my friend Martin. I know this situation applies to many out there (the possibility of what you or others may believe to be useless degrees), so hopefully this post can help someone out!  “Why did you waste your time on that degree?” The most ignorant question in the world. You deserve […]

The post How Do You Use a Degree That Isn’t Very Specific? appeared first on Making Sense Of Cents.

How to Make a Great Impression in a Virtual Interview

Global pandemic got you thinking this is no time for a job change? Think again! Unemployment did soar to alarming rates in the early days of Covid. According to the Harvard Business Review, U.S. unemployment jumped from 3.5% in February of 2020 to 14.7% in April. But as of November 2020, it’s back down to 6.7%.
 
There is a job market, and it’s yours to partake in if you so choose. But the search is likely to be virtual.
 
So whether you’re out of a job or just looking for a change, let’s talk about strategies that will help you shine on screen and land your dream job.

1. Polish that profile

Keeping your online presence current and polished is a good idea in any moment or market. But according to Fast Company, there’s a particular urgency to sprucing it up right now. 
 
“Because many HR professionals are relying on video interviews, they’re also looking for ways to get a better feel for who the candidates are… [so] many are turning to social media profiles and looking for evidence of the candidate’s work online.”
 
This is a moment to assess your professional online presence. Personally, I focus on LinkedIn.
 
What’s your headline? What achievements are you highlighting? Do you have links in your profile to samples of your work?  Can you ask for testimonials or endorsements from people in your network? Ask a few friends to check out your LinkedIn profile as if they were looking to hire. Get their feedback and make adjustments. 
 
This is your moment to use LinkedIn like a Rockstar.

2. Set the scene for success

My family has this little holiday tradition. Every year we watch the 1989 classic National Lampoon’s Christmas Vacation. It gets worse every year, but you don’t mess with tradition. This year, my 13-year-old was savvy enough to recognize that no one in Clark Griswold’s office had a computer on their desk. She simply couldn’t fathom the idea of work getting done in a pre-technology world. I can barely believe it myself.
 
Technology has evolved in ways the workforce of 1989 could never have imagined. It’s amazing what we can do today. But while videoconferencing technology has technically enabled amazing things, we all know it can be clunky and awkward by 2020 standards. So do your best to make your virtual interview as smooth as possible.
 
Here’s a quick checklist:
 
  • Check your tech. Internet connection, microphone, webcam—are they all working? If not, make sure you troubleshoot ahead of time.
     
  • Create a professional setting. Your background—real or virtual—should be as professional as possible.
     
  • Test the platform in advance. Make sure that wherever you’re meeting (Zoom, Teams, etc.) you have everything downloaded or updated, and you'll be able to get into the virtual interview without a hitch. Do a practice run with a friend if you’re anxious.
     
  • Strip out distractions where you can. Kids, dogs, landscapers, snowblowers—they're all noisemakers of the highest order! Be aware, and do your best to minimize.
     
  • Acknowledge distractions you can’t control. In a tiny apartment or homeschooling kids solo? Don't stress! Just call this out as the meeting begins so no one is caught off guard. Any interviewer with a shred of humanity will offer you some grace.

If the interviewer isn't willing to cut you some slack, pay attention to that vibe! I mean, is a workplace that can't roll with real-world challenges graciously really where you want to be?

3. Account for the floating head syndrome

Videoconferencing is the best we’ve got, but it’s not perfect. There is so much about in-person interaction that we didn’t appreciate until we lost it! We’re now trading in floating heads. We’ve lost our access to body language which helped us read the room or sense how we were being received by our conversation partner.
 

In the absence of body language, you’ve got only your voice, so check in with the interviewer.

 
In a pre-pandemic world, the savvy among us might read subtle cues from the interviewer indicating we’ve gone off-topic, or we’re going into too much detail. But in the absence of body language, you’ve got only your voice.
 
So check in—not constantly, but periodically. Ask the interviewer “Am I answering the question you asked?” or “How’s this level of detail? I can provide more or less if that would be helpful.” 
 
The interviewer will appreciate your checking in. It demonstrates an emotional intelligence many of your competitors may not show.

4. Keep that energy soaring

We all know Zoom-fatigue is real. Energy tends to be lower on video, so find ways to express enthusiasm that the interviewer can’t help but experience.

Focus on being fully present.

This isn’t about singing and dancing (though some solid choreography would certainly make you memorable!) Focus instead on being fully present. Close all of your tabs or windows besides the videoconference. The temptation to multi-task or be distracted by an email is dangerous. This will help you stay focused on the conversation at hand.
 
Be prepared to share stories or examples about projects you were really excited about being a part of. Oh, and find moments to just smile! Let your interviewer know, visually, you’re just happy to be there. Your enthusiasm will shine through.

5. Ask questions of the moment 

It’s good practice in any climate to ask thoughtful questions in an interview. Hiring leaders respond well to curiosity. Especially the kind that shows you did some prep work.
 
In this particular climate, be sure you ask a question or two that is relevant to the experience we're all having. You might ask how they’ve shifted their strategy or service delivery or what they’ve learned about their customers during Covid.
 
This line of questioning shows not only a spirit of curiosity, but that you’re thinking about the need to redirect, be agile, and consider the context when engaging with their products or customers.

6. Put your resilience on display

The great buzzword of 2020 will surely carry into 2021. You may have skills, experience, and connections, but every company wants to know: Are you resilient?
 
Buzzy though it may be, companies want, now more than ever, to recruit people who know how to deal with setbacks, handle rejection, learn from failure, and keep on truckin'!

Every company wants to know: Are you resilient?

So as you move through your conversation, find spots to highlight moments of failure that taught you something new; challenges you overcame; or difficult feedback you used to improve yourself. You can even talk about how you transitioned to working while homeschooling, nursing, and doing whatever else the pandemic has demanded of you.
 
These are the rules of the road when it comes to virtual interviewing. And of course, it goes without saying that what mattered in traditional interviewing—being on time, being professional, doing your research, sending a thank you note—all still applies.
 
Now go get ‘em, tiger!
 

How to Financially Prepare for Post-Pandemic Life

As the dust slowly begins to settle and we observe businesses putting their action plans in place to recover, we all sit and wonder what this may look like for us. How will I recover from this? How am I…

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Planning a Home Office? Check Out These Budget-Friendly Tips

When you’re setting up a home office for remote work, keep these key principles from ergonomic experts in mind. Your body—and your productivity—will thank you.

The post Planning a Home Office? Check Out These Budget-Friendly Tips appeared first on Discover Bank – Banking Topics Blog.

5 Investing Strategies That Can Harm Your Portfolio

If you’re educating yourself on how to invest your money for the first time, books such as Thinking, Fast and Slow, The Little Book of Behavioral Investing, and Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism may already be on your reading list. But you shouldn't stop there. Many investors are surprised to learn that building wealth isn’t based purely on graphs and facts you can learn from books. In fact, psychology plays a huge role in the process. Cognitive psychology shows that the ways we manage our money has a lot to do with fear, excitement, greed, and personal biases. 

We often imagine that investors are always rational and make consistent decisions based on new information. However, statistics show that only 20% of individual investors and 30% of institutional investors act rationally. In real life, investors are closer to behavioral finance, which means that they’re influenced by personal beliefs, impulses, and emotions. Even if you did your homework and researched the best investment strategies, emotional behaviors might prevent you from applying them correctly, so it's important to know some of the types of irrational behaviors that can sabotage you.

Five types of irrational behavior that can sabotage your investment portfolio are:

  1. Overconfidence
  2. Loss aversion
  3. Familiarity bias
  4. Framing
  5. Anchoring

1. Overconfidence, or the irrational exuberance trap

Studies have shown that people generally believe they are better than average, even when that’s not the case. After a series of successful investments, it's common for investors to assume they have it all figured out. But in reality, it takes years to become an experienced investor, and even the best investors make mistakes.

After the excitement of the first successful investment, it’s easy to become overconfident in your abilities and forget that chance plays a major role in the financial market. One of the most important lessons in investing is that you can never know too much, so no matter what your financial situation is, manage your portfolio prudently.

2. Loss aversion

The more you invest, the more you realize that loss is inevitable. After all, the higher the risk, the higher the reward. But while many investors accept risk in theory, they aren’t ready to deal with loss. This is called loss aversion, and it can prevent you from making a profit. According to researchers, investors experience the pain of a loss twice as strongly as a success, and they’ll do whatever they can to avoid it. As a result, when they notice that an investment is losing them money, whether that investment is a house, stock, or currency, they hold on to it for as long as possible to avoid the sense of finality of the loss. But that can turn out to be a huge mistake and end up losing you more money in the long run.

There are other, more effective ways to limit losses. For example, if you’re trading Forex, you can try copy trading, where live trading results are openly published online, and you can copy the actions of more experienced traders. Or if you’re trading stocks, you can simply set a stop-loss order. This is designed to limit your loss on a security position and make you sell the stock if it drops below a certain value. Of course, there will always be cases when a stock rebounds after an initial drop, but especially as a new trader, it’s wiser to protect your portfolio proactively.

3. Familiarity bias

Although diversification is a surefire way to minimize the risk of loss, gain more return opportunities, and safeguard your portfolio against the volatility of the market, research shows that investors tend to stick to assets they know and are comfortable with. This is called a familiarity bias, and it can be detrimental to your portfolio.

One study has shown that beginner investors in particular stick to domestic stocks, such as large telecom companies or factories in their area, without realizing that these businesses may be sinking. Or even worse, people invest only in their employer’s stock, and when that employer goes out of business, they lose both their job and their profit.

Diversifying can be a bit uncomfortable at first since it means researching stocks out of your comfort zone, but overcoming your familiarity bias is important if you want to protect your portfolio. Don’t put all your eggs in the same basket. Instead, cast a wide net when choosing investments.

4. Framing

The ability to put things into perspective and estimate the impact that events will have in the long run is crucial in trading. However, this ability takes years to develop. When you're new to investing, you’re much more likely to inadvertently practice framing – a cognitive error where you have a narrow-minded approach and evaluate investments in isolation rather than as a cohesive whole.

According to Harry Markowitz’s modern portfolio theory, the assets in your portfolio shouldn’t stand alone. Instead, you should consider how they fit into your general portfolio and, when necessary, readjust the portfolio to reflect the new reality of the market. Cryptocurrency is a perfect example of framing. People who bought Bitcoin in its early days and held onto it are probably very happy, but if they didn’t invest in anything else in the meantime, their portfolio consists entirely of crypto now, and that’s a risky move.

5. Anchoring, or the confirmation trap

The confirmation trap, also known as anchoring or “the house money effect,” occurs when an investor relies relentlessly on a single investment, simply because it worked out well once. Another example of anchoring is when someone takes information from only one source because they were right the first time. But as any experienced investor will tell you, one positive experience is not a guarantee of future success. While learning from the past can sometimes help you understand future numbers, it can also prevent you from making fresh choices based on more relevant insights. To prevent anchoring from limiting your options, always try to view an investment opportunity from different perspectives, stay open-minded, and talk to several consultants before making a decision.

Is It Real? The Creepy Mansion in ‘The Haunting of Hill House’

We recently covered the new Haunting of Bly Manor, director Mike Flanagan’s so-called sequel to the epic mini-series The Haunting of Hill House. And while we were anxiously waiting for the series to drop on Netflix, we thought we’d try to distract ourselves by taking a trip down memory lane and re-watching the first season.  […] More

The post Is It Real? The Creepy Mansion in ‘The Haunting of Hill House’ appeared first on Fancy Pants Homes.

8 Essential Rules for Surviving Financial Hardship

At some point, most people experience an unexpected crisis that shakes their financial world. It could be losing a job, receiving a huge medical bill, or having a car break down at the worst possible time. But surviving a pandemic is a situation you probably never thought you would face.

No matter what challenge you’re facing, you’re not the first.

Along with the public health toll, the COVID crisis has put millions of people out of work. For those struggling financially, here are eight critical rules to help you manage money wisely, stretch your resources, and bounce back from this unprecedented health and economic disaster.

8 rules for managing a financial hardship

Here are the details about each rule to manage a financial setback during the coronavirus crisis.

Rule #1: Accept your situation and use your resources to seek help

The key to successfully navigating a financial setback is to be realistic. If you’re in denial and don’t face money troubles head-on, you can quickly compound the damage.

Instead of focusing on the problem, getting angry, or letting stress overwhelm you, channel your emotions into finding solutions. Start talking about your challenges with people and professionals you trust, such as a money-savvy family member, financial advisor, legitimate credit counselor, or an attorney.

Instead of focusing on the problem, getting angry, or letting stress overwhelm you, channel your emotions into finding solutions.

The following financial associations have certified volunteers who can offer free help and advice:

  • National Association of Personal Financial Advisors
  • The Financial Planning Association
  • Association for Financial Counseling & Planning Education

Rule #2: Get a bird’s eye view of your finances

To fully understand your situation, create a list of what you own and owe; this is called a net worth statement. Compiling your data in one place helps you evaluate your financial resources, make decisions more efficiently, and have essential information at your fingertips if creditors or advisors ask for it.

First, list your assets: 

  • Cash
  • Investments
  • Retirement accounts
  • Real estate
  • Vehicles 

Then list your liabilities:

  • Mortgage
  • Car loans
  • Student loans
  • Credit card debt

Include the estimated values of your assets, the balances on your debts, and the interest rates you pay for each liability. You could jot down this information on paper, enter it in a computer spreadsheet, or create a report using money management software.

When you subtract your total liabilities from your total assets, you’ve calculated your net worth, which is an indicator of your financial health. It’s not uncommon to have a low or negative net worth when you’re in financial trouble.

RELATED: 10 Things Student Loan Borrowers Should Know About Coronavirus Relief  

Rule #3: Understand your cash flow

An essential part of bouncing back from a financial crisis is keeping an eye on your monthly income and expenses. Create a cash flow statement that lists your expected income and typical expenses, such as rent, utilities, food, prescriptions, transportation, and insurance. Again, you can create this report manually or by using budgeting features in a financial program.

Understanding where your money goes is the only way to prioritize expenses and cut all non-essential spending.

Understanding where your money goes is the only way to prioritize expenses and cut all non-essential spending. Making temporary sacrifices will help you recover as quickly as possible with less long-term damage to your finances.

Rule #4: Shop your essential expenses

As you review your spending, it’s an excellent time to comparison-shop your essential expenses. Evaluate your highest costs first, such as housing, vehicles, and insurance, since they offer the most significant potential savings.

For instance, you may be able to move into a less expensive home, purchase or lease a cheaper vehicle, and shop your auto insurance to find better deals. Ask your utility provider about assistance programs that offer energy-saving improvements at no charge.

Rule #5: Communicate with your creditors

If you haven’t been in contact with your creditors, start a dialog with each one immediately. You’ll come out ahead and get favorable treatment from creditors if you are proactive and honest about your financial troubles. Ask them for solutions, such as deferring payments for several months, setting up a reduced payment plan, or refinancing a loan to reduce your financial burden.

You’ll come out ahead and get favorable treatment from creditors if you are proactive and honest about your financial troubles.

Creditors are likely to ask about details regarding your financial situation, so have your net worth and cash flow statements on hand when you speak to them. Be ready to complete any required assistance applications quickly.

Rule #6: Prioritize your debts carefully

Based on guidance from creditors and finance professionals, prioritize your bills and debts carefully. Your goal should be to conserve as much cash as possible without skipping essential payments. Always pay for necessities first: food, prescription drugs, and auto insurance.

Debts related to child support and legal judgments have severe consequences and should be prioritized

Use your net worth statement to rank your liabilities from highest to lowest priority. For instance, debts related to child support and legal judgments have severe consequences and should be prioritized. Keeping up with an auto loan is a high priority if you rely on your vehicle for transportation. Federal student loans are in automatic forbearance through September 30, and the relief may get extended through 2020.

Your unsecured debts—medical bills, credit cards, and private student loans—are lower priorities. Never pay these debts ahead of rent, a mortgage, or utilities when you have a cash shortage.

Rule #7: Don’t let collectors force you to make bad decisions

Prioritizing your debts means some may be paid late or not at all. If a debt collector contacts you about a low-priority debt, such as a medical bill or credit card, don’t allow them to persuade you to pay it before your highest priority bills.

Collectors may try various aggressive tactics, such as threatening to sue you or ruin your credit. A lawsuit could take years, and a creditor is more likely to negotiate a settlement with you. Remember that a creditor or collector can’t send you to jail for civil debts.

If you are behind on bills, that fact is likely already reflected on your credit reports. By the time a collector contacts you, the damage is already done, and paying the bill won’t improve your credit in the short-term.

Rule #8: Take advantage of local and federal benefits

If your income and savings have entirely dried up, use these resources to learn more about local and federal benefits.

  • FeedingAmerica.org has a map showing local food banks
  • Supplemental Nutrition Assistance Program (SNAP) is the federal food program you may qualify for based on where you live, your income, and family size
  • MakingHomeAffordable.gov can help you find a housing counselor or see if your mortgage is backed by the federal government and qualifies for forbearance
  • Benefits.gov has a questionnaire that helps you discover the benefits you’re eligible for
  • Medicaid.gov is the federal health insurance program you may qualify for based on where you live, your income, and family size
  • Healthcare.gov is the federal health insurance marketplace where you may find plans with substantial subsidies if you earn too much to qualify for Medicaid

Financial challenges can cause you and your family to experience a flood of emotions, including anger, fear, and embarrassment. As difficult as it might be to put a financial crisis into perspective, it’s critical. No matter what challenge you’re facing, you’re not the first. There are millions of people who are dealing with COVID-related financial hardships.

Face the fact that your recovery could take a while. Do everything in your power to manage your budget wisely by getting organized, seeking ways to earn more, and spending less. Don’t be afraid to ask for help from creditors, seek free advice from professionals, and take advantage of every local and federal benefit possible.

How to Save for a House in 8 Steps

When you buy a home, you’re making an investment in yourself and your future. You’re building financial stability, equity, and experience. You have a place to call your own and you can customize the space just how you want. Yet,…

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Our Fixer-Upper Homebuying Journey with the Renovation Husbands

David and Stephen St. Russell of the Renovation Husbands on Instagram share their first and second-time homebuying experiences and how they got started transforming fixer-upper homes.

The post Our Fixer-Upper Homebuying Journey with the Renovation Husbands appeared first on Homes.com.