Advice to your former self
In three weeks, I’ll be turning 23 (while I know this isn’t old, I never thought I’d be this old.) With this in mind, I’ve been asking all of my friends and family members the same question: “If you could give any piece of advice to your 23 year-old self, what would it be?”
While I’ve been getting varied and interesting pieces of advice, the one I need to focus on more is working on saving more money. This can be tricky, especially when you first start making money, so it helps to hear how others do this.
Millennials and money
Recently, Bustle surveyed over 1,000 millennial women, in their 20s and 30s, and they shared how they save money. Their incomes ranged anywhere from $30k to $150k Twenty-one of the responses were published, and below are 10 that include innovative ideas to potentially implement.
1. Samantha, 30: Uses a budget for her finances. Rather than enjoying instant gratification, Samantha makes a wish list of things and experiences she wants to save money for. Then if she accomplishes a goal, she treats herself to something on the list.
2. Ronnika, 33: Instead of continuing a habit of meeting friends for drinks every week, Ronnika has found it is more fiscally responsible to invite friends over. Also, She takes any extra money from her paychecks and puts it in a checking account that is not locally accessible.
3. Michelle, 24: To save on entertainment, Michelle has opted for only using WiFi rather than getting cable. Additionally, she keeps her thermostat set at 62-64 degrees and uses layers and space heaters to save on costs. She also encourages packing a lunch everyday, as that is a big saver.
4. Kelly, 24: Kelly attributes her money saving to living with her parents. She also suggests an app called Qapital: “You can set your own rules for how you want to compile your savings — for example, I have a ‘Round-Up Rule,’ which rounds up every purchase to the nearest dollar and puts that change into savings, as well as a ‘Set and Forget Rule,’ which just automatically takes out a pre-selected amount. For me it’s $10/weekly.”
5. Libby, 24: Libby only uses her credit card for necessary expenses (such as payments for her car) and puts anything else on debit. With her credit card, she makes sure she pays off the balance in full each month so that she does not fall into debt.
6. Savannah, 25: Savannah keeps a peaceful mind savings to fall back on in case of emergencies. “I’ve found having a savings account balance equivalent to two months of my salary is a good cushion.”
7. Alexandra, 26: Alexandra keeps an Excel spreadsheet that tracks all of the money she has coming in as well as what is going out. She helps herself save by setting goals of what she wants to save and by when.
8. Lyn, 29: Lyn saves her money by looking at it as a way of paying herself first. She puts a large portion of her paycheck into her 401k and puts the maximum amount of her paycheck into her Roth IRA each year. She will then spend liberally on the things that are important to her, and harshly cut anything that she deems frivolous or won’t make her happy.
9. Marissa, 26: Marissa budgets her money and attempts the tactic of cooking for herself as much as possible. She has found that one meal out is equivalent to five meals at home.
10. Danielle, 23: Danielle saves by setting up two automatic transfers from her paycheck to budgeted savings. “So it’s like I don’t even notice the money is there. One transfer goes to ‘future me’ in the form of RRSPs or other investments, and one transfer goes to ‘fun times,’ like trips abroad.”
Cowrkr gives you accountability while you work solo
(ENTREPRENEUR NEWS) Being accountable for your own accountability is a tall order. Join Cowrkr and let someone else do it for you.
My boyfriend and I have always had a great appreciation for film and television, as well as the writing that goes into it. We always talk about different project ideas, but never get too far in execution with the busyness of real life.
Last night, I finally thought of a way that we can help each other bring our projects to completion, and that is simply by holding each other accountable. I suggest that each week we could have a new task that is due by 10 p.m. Sunday night.
We both have ideas for scripts, so the plan is to start off with having a plot synopsis and character list due the first week, having an outline due the second week, and so on. This will not only help keep us on track but will also help in terms of formatting ideas.
While I’m grateful that this little plan has come together, I know that most people aren’t working on similar projects to people they are close with. Therefore, they may need to look elsewhere for accountability.
Now freelancers and entrepreneurs have the opportunity to be matched with a fellow freelancer or entrepreneur to help hold each other accountable for their respective projects. Meet Cowrkr.
“This is an initiative to help makers keep themselves socially accountable by getting them to build publicly,” says cowrkr developers.
Users sign up and give some info regarding what project they’re working on and what they’re shipping. It works by connecting two makers at a time and cowrkr works to help each maker keep the other accountable until each project is completed.
Once a project has been completed, the makers then end their accountability relationship. When their next project comes along, they will then be assigned a different maker.
Cowrkr’s website does not give a ton of insight as to how the algorithms and matching systems work, but it is an intriguing idea for freelancers and entrepreneurs looking to take their individual projects to the next level.
The top 10 startup cities in America
(ENTREPRENEUR NEWS) If you’re thinking about launching a startup anytime soon you may want to check out this list on the top 10 cities for startups.
The digital revolution is in full swing, and some cities are setting themselves up to capitalize upon these innovations by supporting startups.
In order to “better understand the U.S. cities driving the digital revolution,” several groups have come together to rank which cities are making the most of the tech startup boom.
The U.S. Chamber of Commerce, 1776, the U.S. Chamber Technology Engagement Center, and FreeEnterprise.com have teamed up to publish a report called Innovation That Matters (ITM).
The report analyzes and ranks U.S. cities on such factors as startup capital, the connectivity of startups, startup culture, the availability of worker talent and specialization, and more. Data was taken from surveys of entrepreneurs and businesspeople, startups, and leaders in public and private sectors.
J.D. Harrison, senior director of strategic communications at the U.S. Chamber of Commerce says that the “digital revolution has the potential to make winners of some cities and leave others behind.”
The study aims to find out which cities “embrace this shift to a digital economy and actively support technology startups,” arguing that these cities “will be the best positioned to unleash the power of high-impact innovation and cultivate vibrant, thriving communities.”
The top ten ranking cities are as follows:
10) Portland, Oregon because every city needs a nickname, has been dubbed the Silicon Forest, referencing its leadership in green tech.
9) New York City, New York. The largest tech hub on the east coast.
8) Seattle, Washington. Home to Amazon.com and several other tech firms, with Microsoft’s headquarters in nearby Redmond.
7) Dallas, Texas. Dtown moved up significantly by increasing startup connectivity and tapping into a large, diverse workforce.
6) Atlanta, Georgia. The “most improved” city on the ITM list, moving up 15 places to number six due to a surge in financial, educational, and health tech industries.
5) Austin,Texas. Home of The American Genius, Austin has become a “haven for tech-savvy millennials seeking good-paying job opportunities.” Besides hosting many tech startups, Austin still has a relatively affordable cost of living.
4) San Diego, California. San Diego is full of cybersecurity, Big Data, robotics, and software startups.
3)Philadelphia, Pennsylvania. Also known as Philicon Alley, moved up from number eight by deregulating and becoming more business-friendly.
2) San Francisco Bay Area. The Bay also ranked number two last year. The seaside neighbor to the Silicon Valley has been doing a great job attracting seed funding these days.
1) Boston, Massachusetts. This is the second year in a row that Boston has topped this list, due to its large number of startups and robust entrepreneur population.
How does your city rank?
Customer surveys tell more than just satisfaction
(ENTREPRENEUR NEWS) While they can be annoying for the consumer and cost time for the company, customer feedback surveys are crucial to your business.
While Richard Dawson, Louie Anderson, and Steve Harvey may not be able to personally help you with customer service, what they have in common can. Surveys, and personalized follow-up attention in general, help clients and consumers know that they mean something to your business.
For the sake of this article (and the fast-paced, technological world we live in) I am going to be speaking about surveys. However, I want to share this anecdote first.
I used to work front desk at a salon and part of my job was to follow up with new guests about a week after their appointment.
Now, most of the time, my calls went to voicemail, which were never returned; but every once in awhile a human answered.
After going through the spiel of why I was calling, I could almost always sense a sound of surprise from the other line before the person answered my question. One conversation in particular left me realizing how important this seemingly useless task was.
I called an older woman and asked her about a recent appointment she had at the salon. She thanked me for calling and then went into detail about how great the appointment was and how much getting her hair done meant to her.
Before we hung up she said, “thank you again for calling. A salon has never done this before.” It then hit me like a ton of bricks just how significant something as small as a callback is.
If you have the time, definitely make those callbacks to clients as it could be very meaningful. However, it’s understandable that most of us may not have the time in our schedule for personalized phone calls.
So if that’s the case, don’t forget about surveys. I know most of them will either go to spam or go unanswered, but the mere fact that you’re sending it out shows clients and customers that you care about their business.
And, for those surveys that do receive responses, it can be extremely beneficial for your company as you can get insight into what works and what doesn’t. There’s really no disadvantage to this tactic, so remember to make time for that follow up with existing clients rather than just focusing on getting new ones.
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