Business | Young Adult Money https://www.youngadultmoney.com Make More. Save More. Live Better. Sun, 04 Oct 2020 23:09:06 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 How to Overcome a Gap in Your Work Experience https://www.youngadultmoney.com/overcome-gap-work-experience/ https://www.youngadultmoney.com/overcome-gap-work-experience/#comments Sun, 04 Oct 2020 23:09:06 +0000 https://www.youngadultmoney.com/?p=33332   Have a gap in your work experience? It’s more common than you may think. Many people take a sabbatical at some point in their career for various reasons. Maybe you moved, went back to school, job loss, started a family, or just needed a break. Whatever the reason, having a gap on your resume […]

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Have a gap in your work experience? A break in your career may be easier to overcome than you think. Here is how to overcome a gap in your work experience.Have a gap in your work experience? It’s more common than you may think.

Many people take a sabbatical at some point in their career for various reasons. Maybe you moved, went back to school, job loss, started a family, or just needed a break.

Whatever the reason, having a gap on your resume doesn’t mean you can’t find a job and reenter the workforce.

Here’s everything you need to know about how to overcome a gap in your work experience.

 

Be Honest and Vulnerable

 
They say honesty is the best policy, and it certainly applies here. Be prepared to speak to why you had a gap. Depending on your reason for taking a break in your career, explaining the gap to a potential employer may be uncomfortable.

You can overcome this discomfort by being totally honest and preparing for the question ahead of time. Chances are, if you have a gap on your resume, someone will ask about it so don’t let it come as a surprise.

In fact, you may be surprised at how a hiring manager reacts to your blunt honesty about your situation. It’s a great opportunity to demonstrate your character in an interview, so use it to your advantage.

Some examples you can use in an interview:

  • I took some time off to stay home with the kids and am ready to reenter the workforce with my full energy
  • I was laid off from my last role, and toko the opportunity to reevaluate what I wanted in a new role
  • I am proud of the quality of work in my last role, but I realized it wasn’t the work I wanted to be doing long-term. I took time off to think about my next career move.

Your cover letter is also a great place to explain the gap in your experience.

And remember – resume gaps do not define you, and they aren’t’ necessarily bad. Whatever your reason for taking a break in your career, own it!

 

Fill the Gap

 
If you don’t like your reasoning for the gap on your resume, you can work to fill it.

How did you use your time off? Did you volunteer? Care for someone? Start a business?

You can add these experiences to your resume, just like you would any other job. While it’s certain you’ll still be asked about it, it’s a good way to make your resume look cohesive and give you something to talk about during an interview.

 

Remove Short-Lived Gigs

 
A gap on your resume isn’t necessarily a red flag, but a gap combined with a bunch of short-lived jobs is.

If you have a choppy resume, hiring managers can’t help but wonder if there is something you aren’t’ telling them. Even though you very well could have left each role for a good reason, it’s going to be challenging to get a foot in the door with a lot of resume breaks.

So, if you have any roles you were at for less than a year, consider removing them from your resume. While some of the skills you learned on the job may be valuable, it can be more distracting than anything.

 

Start a Side Business

 
If you have a side business, you can easily bridge the gap on your resume.

Starting a business is the perfect excuse for a gap on your resume. Better yet, if you find yourself taking a break in your career because you feel burnout, starting a business might be the refresh you need.

There are thousands of side businesses you can start, and many of them can be started from your own laptop. As an additional plus, having a side business means you always have something to fill a gap on your resume, so you never have to worry about it again in the future.

 

Keep Your Skills Up to Date

 
Lastly, if you are currently taking a gap or you plan to, it’s essential to keep your skills up-to-date.

Stay abreast of any trends and changes in your industry, and consider taking courses in your free time to ensure you aren’t getting rusty. That way, you can rest assured no hiring manager will question if your skills are still relevant.

 
Related:
 

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15 Ways You Can Make Money From Your Computer Right Now https://www.youngadultmoney.com/ways-you-can-earn-money-from-your-computer-right-now/ https://www.youngadultmoney.com/ways-you-can-earn-money-from-your-computer-right-now/#comments Sun, 07 Jun 2020 10:10:50 +0000 http://www.youngadultmoney.com/?p=24979 Do you want to make money at home on your own time? Whether you are looking to make a full-time income or just make a few extra bucks a mont, there are many ways to make money right from your own computer. As the use of technology rises, the possibility of making money from your […]

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Are you interested in earning money straight from your computer? No matter what skills you possess, there are many ways you can make money right from the comfort of your own home.

Do you want to make money at home on your own time? Whether you are looking to make a full-time income or just make a few extra bucks a mont, there are many ways to make money right from your own computer.

As the use of technology rises, the possibility of making money from your computer continues to increase. You can do jobs online that did not even exist 5 or 10 years ago. While there are many scams out there, we have highlighted the best 15 legitimate ways to make money online.

The options on this list vary. Whether you just want to earn a few dollars while watching television, or you want to start your own online business, there is an online job perfect for you.

Keep in mind, there are easy and difficult ways to earn money online. Some items on this list may only require an hour a month, but they won’t pay as much as something that requires much more work. Earning a significant amount of money online takes time, hard work, and dedication. But if you are willing to commit, there are endless possibilities to make money straight from your computer.

Here are 15 of the best ways you can start earning money from your computer today.

 

1) Sell Items Online

 
What better way to make money than by selling items cluttering up your home? You can sell old furniture, clothing, kitchen appliances, or tools all online.

It only takes a few minutes to post an item for sale online. All you have to do is take a few pictures of the items you are selling, post them to sites like Craigslist, eBay, or OfferUp, and write an honest description describing the condition of the item for sale. And if you are selling clothing, Poshmark is an incredibly useful app.

 

2) Take Surveys

 
While taking surveys probably won’t make you rich, they do provide a way to quickly make money while sitting on your computer. Many sites are looking to gather data from individuals from across the world in efforts to help with their product and marketing.

Survey sites typically pay a few dollars per survey. The longer the survey, or the more qualifications you meet, the more you will be paid. Some of the sites pay in cash, while others reward individuals with gift cards or reward points. We recommend the following survey sites:

  • PineCone Research – PineCone Research is one of the leading consumer research companies. You can get paid to take surveys and occasionally test products as well.
  • Survey Junkie – Survey Junkie is a popular consumer research company. Once you complete your profile they will match you up with relevant surveys. Complete surveys for rewards that can be redeemed for cash or gift cards.
  • Vindale Research – If you don’t like the sites that pay out in points that can be redeemed for rewards like gift cards, you’ll like Vindale Research. Instead of paying out in points, they pay out cash for each completed survey, which can then be withdrawn via PayPal.
  • One Opinion – Similar to other survey websites, One Opinion offers opportunities to redeem rewards for cash or gift cards.
  • Swagbucks – Swagbucks has been around for years and is more than a survey website. You can also watch videos and use their portal to earn cash back. You can even use their search engine to gain rewards.
  • Nielsen – When you think of Nielsen you probably think of TV viewership ratings. With more time spent on our phone, laptop, and other devices, Nielsen is trying to measure provide meaningful research beyond just the television.

 

3) Start a Blog

 
Blogging is increasing in popularity, and there is great potential to make money if you start a blog. It should be noted that it takes time and hard work to make money through blogging, but if you truly enjoy what you are blogging about, it will be a fun (or at least tolerable!) process for you. Many people started their blog as a hobby, only to find themselves making money from it.

There are many ways to make money through a blog, including advertising, sponsored content, and affiliate networks. There are also many bloggers who leverage their blog to get freelance writing jobs, paid speaking gigs, and book deals. Read our guide to learn how to start your own blog.

4) Freelance Write

 
If you have strong communication and writing skills, freelance writing is the perfect way to earn money from home.

With freelance writing, businesses or websites hire you as an independent contractor to create content for their websites, newsletters, or even promotional items. You can set your own rates for each project.

If you are interested in freelance writing, I highly recommend starting a blog in the niche where you would like to start writing. This is what I did to become a freelance writer and I can’t suggest it enough.

 

5) Become a Virtual Assistant

 
Virtual assisting is not only a great way to earn money from your computer, but it has the opportunity to become a full-time job.

A virtual assistant, or VA, is a person who helps an individual or business all online. It is similar to an executive assistant, but all online. Job vary, but common tasks include scheduling meetings, proofing content, sharing content on social media, and other administrative tasks.

 

6) Write and Sell eBooks

 
For anyone who enjoys writing, you can write your own eBook and sell it for profit.

eBooks are a great way to make money because they do not require much overhead. In fact, writing and selling your own eBook can be as simple as writing the material, saving it as a PDF, and upload it to a site to start selling.

You can publish your eBook through Smashwords, Booktango, and Amazon Kindle, or you can create your own blog and sell your eBook straight from there.




7) Create a Course

 
Would you consider yourself to be very knowledgeable about a specific topic? You can earn money by sharing your knowledge with others via an online course.

With whatever topic you choose, you can create an online course by planning out what content you will cover, creating worksheets, and offering valuable resources for students. You can charge a set class fee for anyone who signs up for your course, or you can teach on websites such as Coursera or Udemy.

 

8) Sell Stock Photos

 
If you are skilled in photography, you can sell quality photos online to be used as stock photos. Stock photos are photos that others pay to download and use for their own marketing and websites.

You can sell stock photos on large websites like iStockPhotos. The best part about selling stock photos is that once you take the photo and upload it, the rest is passive income. You are paid every time someone downloads the photo.

 

9) Design Logos

 
Have a knack for graphic design? From companies to individuals to websites, the demand for logo work is high. If you have a creative eye, this could be a fun and profitable way to make money online.

Logo work can be as simple or complicated as you want it to be. I personally know individuals who spend a lot of money on the latest editing software, but I also know people who utilize free software, such as Canva to create logos.

 

10) Write and Edit Resumes

 
The ability to write a resume well is rare, and strong resume-writing skills are in demand. Best of all, there are a myriad of ways to work from home while correcting resumes. You can work for a resume writing company or start your own business.

If you are looking to start your own resume-writing business, it’s best to start building your portfolio. You can easily build a portfolio by asking friends and family to let you review and edit their resume. From there, you have built a portfolio that you can send to potential clients.

And if you would prefer to join a professional resume-writing company, Talent Inc., and Risesmart are a couple companies that hire resume-writers.

 

11) Translate Documents

 
The demand for translators is rapidly increasing as companies and individuals interact with each other around the world on a regular basis. You can earn money by translating documents online. You can work for yourself, through an agency, or find your own freelance projects on UpWork and Fiverr.

 

12) Design Websites

 
If you have the ability and knowledge to design websites, you are sure to find no shortage of work and ways to make money doing it. In order to create and design websites, you must possess a strong understanding of HTML and coding, as well as the ability to understand what your clients are asking for.

Even if you don’t know how to code, you can teach yourself for free via Code Academy. If you are looking to start earning money by designing websites, create a few of your own first and add them to your portfolio. This way, prospective clients can see what you are capable of before they hire you.




13) Switch Bank Accounts

 
Are you really getting the most out of your current bank account? What if I told you that you could earn significantly more in interest on your savings throughout the year?

Online bank accounts are able to pay higher interest rates because they do not have to maintain the costs of traditional brick and mortar stores. If you are looking to open an online bank account, we highly recommend CIT Bank, which consistently pays one of the highest rates of any bank.

 

14) Become a Transcriptionist

 
If you are looking for a flexible and legitimate work-from-home job, transcribing could be for you. To be an online transcriptionist, you simply have to type out audio that you are given. Successful transcriptionists are keen listeners and are fast and accurate typists.

You can become a transcriptionist in many fields, including the medical and legal field. You can either work directly for a company, or you can work for websites such as Tigerfish, or find freelance opportunities on Upwork.

 

15) Open an Etsy Store

 
Do you enjoy crafting, such as making jewelry, art, or sewing? Whatever you enjoy creating, you can open an Etsy shop to sell your items.

Etsy is basically an online marketplace for people looking for handmade goods. You open your own shop with your products, and consumers can search and buy your items. Etsy is great because you don’t have to go out searching for your own customers. It costs 20 cents to list an item on Etsy, and they take a small percentage of each sale you make.

 

Want more ideas for making money on your computer and at home? Here’s 50+ ideas for online and at-home side hustles.


 

How do you make money from your computer? Do you do any items on this list? If you don’t currently make money from your computer, which list item would you choose to start?

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15 Skills That Will Help You Make More Money https://www.youngadultmoney.com/skills-that-will-help-you-make-more-money/ https://www.youngadultmoney.com/skills-that-will-help-you-make-more-money/#comments Sun, 15 Mar 2020 10:00:23 +0000 http://www.youngadultmoney.com/?p=24193   This post is part of our series 7 Weeks to Your Best Finances. This series is meant to serve as a 7-week path to improving your finances. It will cover all the important topics like starting a budget, saving money, making money, investing, and more. To find out more and see all the tips […]

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Want to be wealthy? If you're looking to looking to earn more at your 9-5 or at your side hustle, here are 15 skills to build upon to get there.This post is part of our series 7 Weeks to Your Best Finances.

This series is meant to serve as a 7-week path to improving your finances. It will cover all the important topics like starting a budget, saving money, making money, investing, and more.

To find out more and see all the tips and ideas for improving your finances check out the dedicated 7 Weeks to Your Best Finances page.

 
Have you ever really observed someone you think is successful and wealthy? What traits and skills do they seem to have?

While not all wealthy people are the same, most of them have mastered very similar skills. If you’re looking to looking to earn more at your 9-5 or at your side hustle, there are many skills to build upon to get there.

All of these skills and traits are incredibly transferable. So no matter what you do, learning or mastering these skills will not only bolster your knowledge, but will help to increase your income in the long-term.

You’ll also find that many of these skills transfer directly into our personal life, making you more efficient, organized, and just plain happier! Here are 15 skills that will help you make more money.

 

1) Public Speaking

 
For some, public speaking comes naturally, while for others, it can be a difficult (and even terrifying) skill to learn.

While you may be able to avoid public speaking for a while, undoubtedly there will arise a time in your career that you will be required to get a public announcement or speech with or without notice. So conquer those fears now to prepare yourself.

Toastmasters is a fantastic group to teach you and encourage you on your public speaking. There are Toastmasters groups all over the country, so find your local one and join.




2) Coding

 
No one is asking you to become the Mark Zuckerburg by any means, but having an understanding of coding can really set you apart.

With the increasing reliance on technology, any technical knowledge you can display will get you ahead, no matter what job you have. Even if you have no need for coding at all in your job, your employers will know that you have the technical skills, which always leads to further money.

And there is so much opportunity for freelance work as a coder, resulting in the opportunity to earn even more. There are many free resources to learn coding, like Codecademy, so check it out!

 

3) Languages

 
Just like coding, learning another language can set you apart from the competition when interviewing for jobs. And having knowledge of another language can offer you more money at a job where it is in demand.

Language, especially in any customer service role, makes you extremely valuable to your employer, and I bet they are willing to pay to show you your worth.

You can even turn your knowledge of another language into a lucrative side hustle by offering private or group tutoring sessions. Tutors can charge anywhere from $25-100 an hour, making it very worthwhile.

 

4) Writing

 
As a writer, I can tell you firsthand how writing has helped me make more money.

Writing was a highly desired skill for my full-time job, and I believe that my ability to write set me apart from any other applicants. I enjoyed writing so much that I started a blog and started earning money by freelance writing.

Writing is valuable for so many job aspects. Whether you need to write grants, create presentations, write press releases, or create an executive summary, writing is an imperative skill to learn.

Related: The One Reason Why Blogging is the Ultimate Side Hustle

 

5) Organizational Skills

 
As people work their way up in their career, they soon realize how vital organization is. Organization is the key to balancing multiple tasks, projects, and deadlines all at once.

The ability to be organized really does allow you to achieve more in less time. You’ll operate more efficiently and overall, will improve at your job and side hustle, allowing you to make more money.

 

6) Ability to Handle Ambiguous Tasks

 
Can you take ownership of a task without much given direction or guidance? Are you okay to start projects you’re unsure about or to handle figuring it out as you go?

While some people are able to dive right in, others prefer a lot of direction. Asking for direction isn’t a bad thing, but if you’re able to do a job or task without much guidance, you’ll get a lot more credit.

Editor’s Note: I can attest to just how much this is valued in business. Time is money, and anyone who can take ambiguous tasks and run with them is saving their manager a lot of time that otherwise would be spent working through the task with them.

 

7) Social Media

 
Everyone has some idea of how social media works, but proving that you’re professional, active, and followed on social media speaks wonders about you.

Even if it’s just your personal accounts, employers want to know you’re professional. Clearly, you can lose money (or a job!) by having an unprofessional social media account.

Having in depth knowledge about social media proves that you are technologically savvy and that you have excellent PR skills. If you work in any sort of marketing capacity, you need to prove that you are able to maneuver social media.

One way to set yourself apart from the competition and ensure a higher starting pay is to start a blog! With a blog, you learn how to write, code, market and use social media, and run your own business. All of which are skills to get you ahead.

You can also use your knowledge of social media to offer your services as a social media manager for other companies.




8) Excel and Spreadsheets

 
Excel isn’t just for finance and accounting anymore. Everyone needs to know how to use Excel. Most of us claim we are skilled in Excel, but the resource has the ability to do much more than most of us realize.

There are cheap, and sometimes free, courses all the time to educate yourself in-depth about Microsoft Excel. Check out your local library and Find a Seminar to enroll in a class. Or just get a book from the library and start working through it.

 

9) Interpersonal Skills

 
No matter what you do – even if you are a sole practitioner, you need to have interpersonal skills.

People with people skills get hired. They get promoted and they get more opportunity. Because they know how to relate to others and work as a team.

No one wants to promote that guy who is an expert, but is so difficult to work with. Think about the most successful person you know. Whether or not you want to admit it, having genuinely good people skills can set you apart and get you further.

If anything, it’s vital to work on communication to ensure your ideas and projects are always understood.

 

10) Project Management

 
Can you take a project and see it through from start to finish? Are you able to ensure every detail and deadline is met?

You don’t need to be a professional project manager to use project management skills. Any job you have will benefit enormously from project management. While many people are excellent brainstormers, they often can struggle with actually seeing the project through. Working on those skills to bring an idea to life are invaluable.

 

11) Negotiation

 
We are all told that we should negotiate our starting salary, but there are so many other ways negotiation can help you make more money.

Being able to simply negotiate in a job will yield you more cash. So many people are intimidated with negotiation, so those who can do it well are in high demand.

Numerous jobs require negotiation with vendors, clients, or even other departments. Being able to advocate for the best outcome for your position is priceless.

 

12) Graphic Design

 
Graphic design skills can make for a profitable side hustle, but can also make you more money in a full-time career.

Most jobs today would view basic graphic design skills as an asset, especially being able to maneuver design software. Any design skills will set you apart from the competition while job searching.

And graphic design can provide limitless ways to make money while side hustling. You can create website graphics, sell printables on Etsy, or take on design freelance projects for websites, newspapers, or companies.




13) A Desire to Learn

 
Complacency doesn’t get us anywhere, no matter what job we have. If we have no desire to learn more or no motivation to improve ourselves, we won’t take the initiative to improve our skills.

Employers want employees to be motivated, excited, and encouraging. Whether you feel their support or not, it’s true. Because a motivated employee doesn’t only do more work, but they set the example for others to work just as hard.

 

14) Ability to Sell

 
Sales is the foundation of all businesses, so having a sales skills will always set you apart. No matter your role, you are always selling! More importantly than selling a product, you need to sell your ideas.

A solid foundation in sales is hard to find, and can give you a big one-up in your job. Though sales might seem intimidating to learn, in reality, anyone can learn it.

Sales are imperative to any side hustle success. Not only do you have to sell a product, but you have to close the sale by marketing yourself to a client.

A derivative of this is “user acquisition” or “lead acquisition.” Online lead generation is now a big part of just about every business, and if you are able to help a company generate leads and/or sales, you are a valuable asset.

 

15) Ability to Take Initiative

 
Apply your ambition to the workplace. Taking initiative, no matter your job, will yield more opportunities, pay, and success than you can imagine.

Employers love to see their staff taking initiative, because then they don’t have to tell their employees what to do. It’s easier on the employer and freeing for the employee.

If you’ve been thinking about starting a side hustle, take initiative to start and reach out to potential clients. Take initiative by doing more than asked, and you’ll always receive business.

 
Instead of being stagnant and hoping you make more money, take initiative to learn some new skills and market them to earn more money. You’ll find that when you are invested in continuous development of yourself that you will earn more money as well as live a happier and healthier life.

 

Related: 50+ Ideas For Making Extra Money
How to Start a Blog that Makes Money

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10+ Productive Things to Do If You Are Bored at your Corporate Job https://www.youngadultmoney.com/bored-at-corporate-job/ https://www.youngadultmoney.com/bored-at-corporate-job/#comments Mon, 24 Jun 2019 10:00:41 +0000 https://www.youngadultmoney.com/?p=30818   You finished all your work. Your manager is busy. You don’t have anything else assigned to you that needs to get done. You don’t know what you should do next. You’re bored. Many corporate office workers have found themselves in this situation. It could be because you are new to the team or company, […]

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For many who work a corporate job, there will come a time where you are bored. It may be a slow season, or you may be newer to the team or company. Regardless of the reason why, fill your time with these productive things instead of staring at the clock.You finished all your work. Your manager is busy. You don’t have anything else assigned to you that needs to get done. You don’t know what you should do next.

You’re bored.

Many corporate office workers have found themselves in this situation. It could be because you are new to the team or company, and it’s difficult for your manager to hand things off to you. Or you may be in a role that has slow and busy seasons. Or your manager may be swamped and unable to find time to sit down with you to go over things.

Regardless of whey you are bored at your corporate job, it’s easy to waste away the minutes and hours and have little to show for it. Instead of wasting your time, find productive things to fill it.

I’ve worked in corporate finance and accounting for nearly ten years, and I certainly have had my fair share of busy and slow times. What I’ve learned is a little motivation to spend your time productively can go a long way. There is always something you can do with your free time. I also have learned to count it as a blessing when things are slow, because once things speed up you never know when you will get another slow stretch.

Here’s a list of productive things you can do when you are bored at your corporate job. Please keep in mind that what is and isn’t acceptable will vary by company, department, manager, and what your role is at the company. In other words, some of these may not be relevant or acceptable at your workplace. A majority of these things will be relevant to most office workers, though.

 

Let Your Manager Know You Have Capacity

 
If you haven’t already, one of the first things you should do is let your manager know you have extra capacity. Unless they are huge micro-managers, it’s unlikely that your manager has a pulse on how much extra capacity you have. If you truly do have a ton of extra capacity it probably makes sense to mention to your manager that you can take on additional work.

To be blunt, but your workload may not be on the top of your manager’s mind. By mentioning your ability to take on more work it may trigger them to take some time to think about what can be handed off. It can also result in them talking to other managers or directors who may need help with something.

Some advice with this is to be smart when approaching your manager. Your manager may not be thrilled if you reach out and ask for more work if you consistently fly through your work and spend little or no time editing and revising it. They also likely have a reasonable expectation that you will proactively improve processes and reports that you work on. It’s one thing to reach out every so often and ask for more work, but you should also be proactively improving and expanding on the things already assigned to you.

Which brings me to the next thing you should do if you are bored…

 

Spend an Hour Brainstorming Areas for Improvement

 
If you truly feel like you have completed all your work and are unsure of what to do next, take an hour to brainstorm everything you can do to improve and expand on the work that you already have. To take an example from corporate finance, we have tons of spreadsheets and reports, and almost all of them could use some improvement. And it’s not just about improving an existing report, perhaps a brand new one is warranted. Even if it’s just back pocket support for a process, there is usually value in creating it.

During your brainstorming session throw everything onto a piece of paper (or if you live in the present day, a word document). Ask yourself:

  • Of the files, documents, reports, spreadsheets, and slide decks I currently use, how can they be better? What sort of improvements can be made?
  • Are there new files that should be created?
  • What is something that my manager hasn’t asked me for, but likely will ask for in the future? How can I get ahead of it so I’m prepared when the question or topic comes up?

The last question is an important one. Many times over the years I have thought “I knew this request was going to happen!” Anticipating what questions and requests will come your way can be a big win from a career perspective. Even if you aren’t 100% of the way there when the request comes up, the fact you anticipated the request and started prepping for it will show your manager you are proactive and take initiative. This will also set you up for success if you move into a busy time at work where you don’t have the luxury of getting ahead of requests.

When you finish your brainstorming session go through your list and prioritize things. Don’t just do the things that are easy – tackle the difficult tasks as well. It’s much easier to start working through something difficult before you are tasked with it.

 

Inbox Zero

 
Clearing out your email inbox is a great way to leverage your downtime at work. I do this every so often because I like the satisfaction of inbox zero, but the number of emails really add up during my busy times.

This has an added benefit because you can jot down takeaways as you go through emails. It can function in a similar way as a brainstorm, where reading through emails may remind you of something you need to do or should do. As I go through my emails I jot down takeaways and, to be honest, things I simply didn’t have time to get to.

 

Develop Your Technical Skills

 
My first corporate job wasn’t the most challenging. One thing I did to make it a little more interesting – and worthwhile – was to develop my technical skills. Since I was in finance, the skills I focused on were:

  • Pivot tables
  • Automating spreadsheets with VBA
  • Formulas
  • Microsoft Access Databases (and automating them)
  • Dashboards within Microsoft Excel

In a later job I had to create PowerPoint slides often, so I spent time developing that skill. Technical skills will always be in demand, if not a minimum requirement for jobs, so it is worthwhile to spend your time honing them.

What you focus on will depend on what your job is. If you are going to develop your technical skills on-the-job, it has to be relevant to your current position. Considering how important and integral technology is to corporate work today, it shouldn’t be difficult to identify which technical skills you should learn and develop for your job function.

 

Learn More About Your Company

 
If you work for a large corporation, it’s likely difficult to even keep up with the weekly and monthly changes, let alone understand all the ins and outs of the core business. Even at small- and mid-size companies, there’s a lot to learn.

Unfortunately many corporate employees only learn what they need to know to get through a request. This is one reason I constantly stress to my employees that an understanding of the business is valuable and something they should regularly dedicate time to. Sure, some businesses are simpler than others, but we live in a complex, fast-paced world and corporate employees need to have a comprehensive understanding of the business to be effective.

If you are newer and/or don’t know much about the business, it could be a reason that you aren’t getting much handed off to you. If something is needed ASAP a manager may fulfill the request themselves or hand it off to an employee who has gained an understanding of the business. All the more reason to spend some of your free time digging into materials and learning about your company.

 

Learn More About Your Industry

 
Don’t just stop at learning about your company: learn more about the industry.

Let’s use the classic example of Blockbuster. The leadership at Blockbuster may have understood their business, but they totally lacked an understanding of the industry they were in. While they were busy refining the experience of their stores, the industry was shifting to a home delivery model, which quickly shifted to an on-demand-from-anywhere model. They totally missed the boat.

There are many other examples where companies that were doing well or okay struggled and eventually collapsed. They didn’t understand the industry, which is an incredible thing to think about because some of these examples are billion dollar companies that eventually were worth nothing!

One thing I’ve done from time-to-time is read the earnings release transcripts of competitors in the same industry. There is a wealth of knowledge shared in those earnings releases. It can also put things in context. If a certain aspect of the industry is getting focus from all the major players, it might explain why your own company pursues a specific strategy or all of a sudden is lazer-focused on a particular metric.

I rarely see people in corporate who dedicate time to understanding competitors and the industry as a whole. There is a lot of focus internally, which isn’t surprising or “bad” per se, but if you are bored it can make a lot of sense to spend some time looking into the larger industry and seeing what competitors are doing and how the industry is shifting.

Is your company too small or your competitors primarily private companies? You still fit within an industry or industries. Learn about the strategies of the publicly traded companies in your space.

 

Create an Accomplishments Spreadsheet

 
The best time to prepare for an annual review is months before your annual review. If you wait until your review, you may have trouble remembering the things you accomplished the past twelve months. Heck, you my have trouble remembering what you were working on a few months ago!

One thing I’ve started to do is keep track of my accomplishments by month. I do all of this within a spreadsheet, but you can do it within a word doc or whatever way works best for you. That way when I get to filling out my annual review, I have all the support I need to craft a solid narrative of the value I provided to the company and the team.

Alissa Carpenter, a workplace expert and communications consultant, suggests an alternative to the digital spreadsheet. Carpenter suggests creating a physical folder where you can print out and store all of the “thank you” emails, client appreciation, or accolades from your supervisor and colleagues. She says, “I have carried my accomplishments folder with me to every job I have had and continue to add to it. It not only helps come promotion time, but if you’re just having a bad day and questioning if you’re good at your job.”

If you have the time, you can take this a step further. You can keep track of everything you do on a weekly or even daily basis. This also serves as a CYA (Cover Your Ass) in case anyone ever questions what you spend your time on or what value you provide. There’s also the fact that your manager may be unaware of much of what you do, which may sound counter-intuitive but many companies have a matrix organization where you may be pulled into projects or work on requests that your manager has nothing to do with. It’s worthwhile to keep a list of these things in case your manager ever asks.

 

Proactively Reach Out to Customers (Including Internal Ones)

 
Carpenter suggests being proactive in reaching out to clients and customers. She says “we usually get so busy during the day that we ‘don’t have the time’ to build relationships and get to know the people that work with us. If you’re in a client facing role, take the time to give your clients a call, send an email, or a message and ask them if there is anything that you can help them with. ”

Take the time to truly understand their pain points and keep track of them. The more information you know about you’re their needs, the better you will be able to help and sell. This could be selling an idea to your organization or products or services to new client. Since you’ve taken the time and built relationships, you know exactly what your clients want and can speak their language.”

I agree with Carpenter, and would emphasize that internal customers are still customers. Throughout my decade of corporate finance and accounting experience I’ve always been removed from our external customers. But I’ve had many, many internal customers. Taking the time to get to know them has almost always been a good use of my time.

 

Organize Your Files

 
I may not hoard physical things, but I definitely hoard electronic files. I “might” need them someday, or at least that’s what I tell myself, and they never get deleted. It also takes a surprising amount of time and effort to organize files and folders, so most people simply don’t do it.

If you have the time, though, you should go folder-by-folder, and file-by-file, and re-organize your electronic files in a logical way. If you are like me and would rather have something and not need it than not have something and need it, create an Archived folder that you can drop stuff in. This will help keep the clutter out of your desktop and other folders, and you can always go to the Archived folder if you need it down the road.

 

Network

 
I don’t think I’ve ever said no to chatting with someone who asks me, whether they are at my level, below my level, or above. Taking that time to get to know someone better can help you work more effectively. Even if you don’t work directly with them, opportunities may come up because you got coffee with someone and they have a connection to you.

You don’t have to fill all your free time with coffee one-on-ones, but you should definitely consider slipping in a couple of them if you are in a slow time. Don’t be offended if someone declines, though; remember that they may be in a busy season where they are struggling to stay afloat.

 

Review Your Benefits

 
Your salary or hourly pay is typically only a piece of your compensation, with benefits making up the remainder. If you aren’t taking full advantage of your benefits you are missing out on something the company is factoring into your total pay package.

A few things to review:

  • Health Insurance – What options were available to you when you signed up last? If you could go back would you still choose the option you went with, or is there an option that is a better fit? Set yourself up for success next open enrollment season by having a better understanding of your health insurance benefit – including the options available and how they differ.
  • Retirement Plan – Does your company match contributions? Are you contributing at least up to the company match? And if you already are contributing up to the company match, should you be contributing more? You should also review what you are invested in. Are you selecting low-fee index funds? You can use this spreadsheet to analyze the funds your plan offers.
  • Health Savings Account – Are you contributing to and taking full advantage of your HSA? If not, you should: it’s a retirement account on steroids. I personally a trying to build a $100k+ HSA, which is difficult because the maximum you can contribute each year is relatively low.

There are other benefits your company may offer such as paid parental leave, an employee stock purchase plan, a discount program on products and services, and more (here’s a list of 13 employee benefits that may be available to you). Spend your downtime getting familiar with your benefits and make sure you are taking full advantage of them.

 

Plan for Your Next Job

 
Sometimes the reason you are bored is because the role you are in is a bad fit for you. If this is the case, consider thinking about what sort of job you would make you happier, and then start making a plan to transition to that job. Update your resume, browse job postings, and build the skills and experience that will qualify you for your ideal job.

If you are going through the process of finding a new job it can be a great opportunity to get a pay bump. Do some salary research to see what other companies are paying for the jobs you are considering applying to. This is a good exercise even if you aren’t considering moving on, as you should regularly be looking at public salary data and potentially having the difficult conversations with your manager about your pay. Here’s a free raise request template that can help.

 

Find a Mentor

 
Finding a mentor can be difficult, but when you find the right mentor it can be a rewarding and potentially career-changing experience. This can start as a simple coffee one-on-one to see if someone is a good fit. If the meeting goes well, follow-up with them and see if you can meet regularly. Once a month usually works well for frequency, as there inevitably will be times when you can’t meet, making your meeting frequency more like ~9-10 times a year.

 
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When you think about it, most corporate jobs have an endless number of things that can fill spare time. You could easily spend all your free time, and then some, learning more about your industry. The same could be said for developing technical skills; there’s always more you can learn.

Commit to spending your downtime productively and not wasting it. You will thank yourself later!

 
 

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The Ultimate Tax Checklist https://www.youngadultmoney.com/tax-checklist/ https://www.youngadultmoney.com/tax-checklist/#comments Wed, 16 Jan 2019 11:00:55 +0000 http://www.youngadultmoney.com/?p=29872 Ready or not, tax season is here. It’s time to start compiling your tax information if you haven’t already. Whether you take your taxes to a professional or you complete them yourself, there is an ample amount of work to do in preparation of filing your taxes. Preparing yourself beforehand can save you time, money, […]

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Get a head start on your taxes this year. Here's the ultimate tax checklist that will ensure you have your smoothest tax year yet.Ready or not, tax season is here.

It’s time to start compiling your tax information if you haven’t already. Whether you take your taxes to a professional or you complete them yourself, there is an ample amount of work to do in preparation of filing your taxes.

Preparing yourself beforehand can save you time, money, and can help make filing your taxes a breeze. In short, adequate preparation can make tax season a whole lot easier for everyone if you have the right documents and information on hand before you get started.

Before you dive into filing your tax return, here’s everything you need to do before you start.

 

Forms of Identification

 
If you are going to a tax professional, you will need to provide proof of identification. Usually, this means you need to provide documents such as your driver’s license, passport, or something else. This is so tax professionals can verify your identity to ensure you aren’t posing as someone else or trying to steal someone’s identity.

Further, you will want to bring a voided check so you can route any tax refunds back into your checking account. Even if you have these numbers memorized, it is risky to go without a check with a printed routing and account number. In the event that there was just one small error, this could prevent you from receiving your tax refund – ever.

And while you won’t necessarily need copies of every family member’s social security card, you will want to make sure you at least have their social security numbers.

 

Gather Documentation of Income

 
Next, you will want to round up all of the documents that prove your income. While some documentation of income is more obvious, such as receiving a W2 from your employer, there are many less-clear documents that fall under this category.

Documentation of wages may include some of the following:

  • W2: Every company you work for should supply you with a W2 if you are on their payroll. Starting in January, employers will send you your W2, which lists all of your income from them in the given tax year. They have until January 31 to send this to you. Keep in mind, if you worked for more than one employer throughout the year, you will be getting a W2 from each of them.
  • 1099: Are you a freelancer? If you perform work as an independent contractor and earn over $600 for a client, then each client is required to provide you with a 1099 form. 1099s differ from W2s because you completed the work independently, so no taxes have been taken out of your income yet. (Did this catch you off guard? Read our post on quarterly estimated taxes to be ahead of the game next year.)
  • 1099-Div: You will receive a 1099-Div if you received any dividend payments from investments such as stocks.
  • 1099-R: If you withdraw money from a retirement plan, such as your IRA, 403(b), or 401(k), you will receive a 1099-R, which is vital for tax reporting purposes.
  • 1099-Int: If any bank or brokerage account paid you more than $10 in interest, they are required to send you a 1099-Int form. Often, you can find these if you login to your bank online.
  • W2-G: For any gambler, you will receive a W2-G if you win $500 or more through gambling. (Congrats! But yes you do have to pay taxes on these winnings. You can offset with any losses, as long as you kept track of them.)

 

Gather Documentation of Expenses

 
Next, you will need to gather documentation that proves your expenses. Even if you don’t own a business, there are plenty of expenses that may be deductible. Listed below are common expense you may want to find documentation for:

  • Cost of education: If you went to college or took a class, you will receive a 1098-T from the institution. File this in your records for when you complete your taxes.
  • Medical expenses: If you had high medical expenses this year, you will want to put any receipts in your tax file. In 2019, the IRS allows you to deduct medical expenses if they exceeded more than 10 percent of your Adjusted Gross Income.
  • Donations and charitable contributions: Many people know you can deduct charitable contributions or donations. Whether you give cash to an organization, or you donate old clothes or furniture, always ask for an itemized receipt so you can deduct the expenses come tax time.
  • Expenses related to self-employment: If you work for yourself, you likely incur quite a few additional expenses, such as mileage or the cost of a home office. Gather all of your receipts. If you’re self-employed, it’s a good idea to have an accountant on hand who can help you sort out your business liability as well. (If you didn’t keep good records last year, commit to starting this year.)
  • Documentation of mortgage interest: If you own a home, your mortgage lender is required to send you Form 1098, which outlines how much you paid in interest during the given tax year.
  • Moving expenses: For anyone who has moved during the tax year, you may be able to deduct the expenses from your income.
  • Individual Retirement Account contributions: Since Traditional IRAs are made with post-tax dollars, you can deduct them from your income.

These are just a few of the most common expenses. If you have miscellaneous expenses, such as gambling losses, eco-friendly home improvements, union expenses, or something else, always keep the receipts and ask your tax professional.

 

Get Organized

 
Now that you have all of your necessary documentation, it’s time to get organized. If you work with a tax professional, you can save time and money by organizing yourself ahead of time versus simply handing your accountant a large stack of receipts.

Sort out your receipts by type. For instance, group all of your educational expenses together and total them up. Keep a running list of the total amount of expense you believe you can deduct. Organize your receipts by filing them by type and bring them when you meet with your accountant. This way, your receipts act as backup to the calculations you’ve already completed in the event your accountant has questions.

While we can’t give tax advice, if you’ve spent all the time and effort towards getting organized it may make sense to file your taxes yourself.

For complicated returns tax accountants can be helpful, but software like TurboTax will be sufficient for most returns.

 

Give Yourself Plenty of Time

 
Nothing is worse than the last minute scramble. Not only will you be more disorganized and flustered, but you will have a hard time finding a tax professional if you wait until the last minute. Start preparing for your taxes as early as possible.

 

Take Notes for Next Year

 
Taxes can be overwhelming, but in theory, they should get easier every year. Take notes during and after the process so you can make your next tax season even more efficient. Remember, good record-keeping is the key to a successful tax year. If you felt you weren’t as organized as you would have liked, take note and create an organizational system that works for you in the upcoming year.

Once you’ve gone through all these steps you are ready to file your taxes! We recommend using TurboTax to file your taxes.

 
 
How do you prepare for tax season? What were your biggest successes? What do you wish you did differently during last year’s tax season?
 
 

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How This Influencer Went from Freelancer to Full-Time Entrepreneur https://www.youngadultmoney.com/freelancer-to-entrepreneur/ Wed, 26 Dec 2018 11:00:09 +0000 http://www.youngadultmoney.com/?p=28931 Do you ever wonder if you’ll be able to scale your life as a freelancer into a full-blown career? If so, we’re here to say that your dream is definitely achievable! In fact, many entrepreneurs got their start doing freelance work – and now make a solid living doing what they love most. Whether you […]

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Want to grow your work as a freelancer into a full-time business? We sat down with entrepreneur Katia Myroniuk to talk about her journey from 'side hustle' to entrepreneurship.Do you ever wonder if you’ll be able to scale your life as a freelancer into a full-blown career?

If so, we’re here to say that your dream is definitely achievable! In fact, many entrepreneurs got their start doing freelance work – and now make a solid living doing what they love most.

Whether you are a writer, a blogger, a digital marketer, or any other kind of online freelancer, there are ways to grow your practice into a full-scale business.

To prove it, we have decided to interview someone who has done just that.

 

Freelancer to Entrepreneur: Interview with Katia Myroniuk of Search Eva

 

Katia Myroniuk got her start doing freelance work as a search engine optimization (SEO) specialist, but now runs her own agency, SearchEva. We wanted to ask her some questions about what it was like starting out as a freelancer and then becoming a full-time entrepreneur.

Katia of SearchEva

 
YoungAdultMoney: What made you first decide to become a freelancer?

Katia: I always thought of traveling while working or getting paid without going to office as of something cool. However, I never thought it could happen to me. First time I felt that freelancing is possible when working with freelancers as an SEO of a product company. But I never knew where to start. Things figured out themselves when I decided to go to South America for 1 month and quit my office for that reason. After coming back I never thought of going back to the office, so I managed to live on savings and started to search for online clients. After a couple of months, I found my first client and began to grow my portfolio.

YAM: As a freelancer, where did you acquire most of your clients?

K: Mostly on Upwork.

YAM: What was your favorite part of making money online?

K: Ability to be my boss, set up personal working schedule and choose clients I want to work with. And I used freelancing perks of traveling in its fullest :).

YAM: What was your biggest struggle as a freelancer?

K: I don’t think I had any. I had a certain picture of how it is going to be, and the reality was quite similar to that. Having stable clients cuts off the headache of finding new ones.

YAM: What was the deciding factor in your becoming an entrepreneur?

K: The deciding factor of becoming an entrepreneur was willing to scale. When being a freelancer, you can only work a certain amount of hours. As an SEO, I wanted to have my team whom I can rely on, and deliver better results for my clients. There are certain things you can’t do by yourself. So, I thought I’ll give it a try, and things worked out pretty well.

YAM: How are you able to market your business?

K: Now at SearchEva, we do SEO and content marketing for SaaS companies. The niche is quite focused that is a benefit when it comes to marketing. I want to provide the best results for my clients so at the moment we are not focused on growing the number of clients. Our focus is on the high level of output for each project we have. Thus, having a razor-focused niche and positive feedback helps our company to grow.

YAM: What has entrepreneurship presented to you what freelancing did not?

K: On the first place, it is scaling of efforts. When you have a team, you multiply your abilities. Of course, it comes together with the search for right employees and management. But for me it is worth it, I always wanted to have my own company.

YAM: What would be your advice to someone who wants to move from freelance work to having their own business?

K: Just do it. I’m a person that acts first and then learns on the go. For someone who is already in freelancing, it should be easy to transfer to entrepreneurship.

YAM: What are your next business goals?

K: At the moment I’m working on the launch of my software. It is an entirely different story – every day discovering something brand new. But I like it!

You can find out more about Katia on LinkedIn or on Twitter.

Do you want to become an entrepreneur? Tell us about it in the comments below!

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7 Tips Every Freelance Writer Should Know https://www.youngadultmoney.com/tips-freelance-writer/ https://www.youngadultmoney.com/tips-freelance-writer/#comments Wed, 17 Oct 2018 10:00:19 +0000 http://www.youngadultmoney.com/?p=29371 Are you a freelance writer? Or do you want to be? Whether you’re brand new or a seasoned freelance writer, you should know that there is ample opportunity to make money while freelance writing. Once you land your first gig, it becomes that much easier to land more and more freelance jobs. So, no matter […]

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Every freelance writer has to start somewhere - here are 7 tips every freelancer should know.Are you a freelance writer? Or do you want to be?

Whether you’re brand new or a seasoned freelance writer, you should know that there is ample opportunity to make money while freelance writing. Once you land your first gig, it becomes that much easier to land more and more freelance jobs.

So, no matter where you are in your freelance career, here are 7 tips every freelance writer needs to know.

 

1) Networking is key

 
Commonly, freelance writers are introverts and work remotely. Because of this, it’s all the more difficult for freelance writers to network.

But networking is key to growing your professional life and your client base. You would be amazed at what information fellow freelancers are willing to share about their experiences, and how that might help you. Plus, you never know when one network connection you have could lead to another client.

Networking has been key in growing my freelance career. Not only have I found supportive friends who also work as freelance writers, but I have had amazing clients refer me to other incredible companies.

You don’t have to be a pro in order to network successfully. In fact, you’d be amazed at how far you can get with interacting with your favorite clients and freelancers on social media.

 

2) Feedback is valuable, not hurtful

 
Undoubtedly, at some point in your freelance writing career, you will receive feedback from a client. While we would all love to receive positive feedback, the truth is, no one is perfect. We all make mistakes and have areas where we can improve.

Instead of dwelling on negative feedback, truly take it as a learning opportunity. If you receive negative feedback, try to read through the lines. What is your client asking for? What do they need to see?

You don’t need to apologize for delivering work that didn’t match a client’s expectations. But you do need to understand why your client isn’t happy.

Thank your clients for feedback, and ask clarifying questions if you are confused as to what they are unhappy with. Take note of what you need to change. If you made mistakes, try not to make the same mistake again.

 

3) Set boundaries

 
As a freelance writer, it may be tempting to work around the clock. Regardless if you’re freelancing as a side hustle or as a full-time gig, it’s vital to set boundaries.

Without boundaries, you will find yourself quickly burnt out. In order to stay in freelancing for the long-term, you need to set adequate boundaries.

One way to do this is to set a freelancing schedule. Set aside time each week to finish your work for each client. Do your best to stick to schedule. Further, work with your clients to help them understand your boundaries.

 

One of the best ways to showcase your skills as a writer is through a blog. If you want to be successful freelance writer but don’t have a blog, it’s time to start one. Here’s a guide that will help you get started today!

 

4) Be you

 
While every freelance writing client has their own tone and content they are looking for, it’s important to remember that most freelance clients still want you to be you. Remember, they hired you for a reason!

You’ll quickly lose yourself if you’re trying to imitate someone else’s writing style or conform too drastically to a client’s expectations. Understand that you and your style have value – in fact, it’s probably what landed you the gig in the first place.

 

5) Don’t be afraid to pitch often

 
When you first start freelance writing, clients won’t just happen to find you. It takes initiative to find those first key clients.

Don’t be afraid to put yourself out there. Apply for jobs you don’t think you’re qualified for, build your network, and reach out to your dream clients on social media. You’ve got nothing to lose!

 

6) Do more in less time

 
If you are paid per freelance writing post, then it’s key to make the best use of your time.

Since you aren’t earning an hourly rate, time really becomes a major factor.

For example, say you earn $50 per 1,000 word freelance writing post. You could either write that single post in an hour, and make $50 per hour, or you could finish it in two hour and only earn $25 per hour.

While that’s not a bad rate by any means, I would still rather earn more money in less time – wouldn’t you?

Keep track of how much time you are spending on each client and on peach project and adjust your rates accordingly.

 

7) You have to market yourself

 
Lastly, the most successful freelancers never forget that they are always marketing themselves. From how they share information on social media, to their network, to accepting gigs that might expand their publicity, you can’t over market yourself as a freelance writer.

This can be a tricky idea to wrap your head around. Most freelance writers start their career because they want to write. But to take your freelancing from a hobby to a business, you have to understand the marketing component as well.

 
Related:

 
 
Have you ever considered becoming a freelance writer? If so, what tips do you have? What are the hardest lessons you have learned? Drop a comment below.
 
 

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