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The most dynamic way to chart and track your goal progress

(FINANCE NEWS) Research has indicated that of those surveyed, only 8% of us fully complete our goals, although half of us do make some progress towards reaching them. So, what holds us back?

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What is holding you back?

It’s almost the new year, and in the spirit of self-reflection it’s time for new personal and professional goals! And, if you’re like most of us, those goals will be something we’re fully invested in, for a brief while anyway, and yet, we won’t reach them. Research has indicated that of those surveyed, only 8% of us fully complete our goals, although half of us do make some progress towards reaching them. So, what holds us back?

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How are you approaching your goals?

Making change is never easy, and for some of us, our goals are ones that we’re not personally invested in, but they’re the ones in which we think we “ought” to be pursuing. Personal investment in change is a crucial component to our success in creating new patterns of behavior or working through to achieve accomplishments. If we really don’t care, even though we think that others feel we should, change isn’t going to last for long. For other goals though, it’s not because we don’t care passionately about them, but that they’re so lofty that knowing exactly how close we are to completing them becomes overwhelming and we get lost along the way. Our passion isn’t in question, but our approach is.

Trent Hamm, writing at The Simple Dollar, identified a way of achieving goals that worked for him in his approach to personal finance, and which can work for all of us in any area.

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“I like to envision giant goals like this as squares on a piece of graph paper…I’d take a piece of graph paper…and I’d simply mark out one of those squares every time I did something that saved $10 and I put that $10 aside in an account somewhere,” Hamm wrote. “Whenever that account earned $10 in interest or dividends or growth, I’d add another square… Maybe your goal is even bigger…that’s okay. It’s still just made up of little steps and little squares.”

Little steps and little squares

When focusing on your goals, identify the steps that have to occur in order for that goal to be accomplished.

Start at the beginning in your thinking, and resist the temptation to label any step as too small.

For example, let’s say your goal is to go to graduate school to pursue an additional degree or certificate to expand your knowledge base. It may seem oversimplified, but an initial step might be as easy as talking to your significant partner or your family about your decision, or perhaps you need to start by making a phone call or sending an email to the registrar’s office to begin the application.

Just keep swimming

For some of us, in our minds, we’ve already moved past these initial steps, thinking about financial aid, the scheduling of courses, or the work-school-life balance changes that may be coming soon. We’d be right to think about these considerations, as they do play a part in us reaching our goal, but by focusing on the smallest of initial concrete steps, and doing them in a timely fashion, we get the sense of motion necessary to begin to feel accomplished.

By making a visualization of these small steps, we see our progress towards reaching the ultimate goal, and can find comfort when things don’t seem to be going well. We’ve been successful in the past, and although we might be having difficulty at the moment, we can expect to be successful again in the future; the important thing is not to stop trying to accomplish the goal.

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An example of this is the work being done in goal setting with students in K-12 public and charter schools around the nation. Work is being done with students to help them understand the importance of goal setting for themselves, whether the goal is academic, behavioral, or social. Students identify goals that are important to them and which are aligned with them being successful in school, as they define success. Goals are broken down through the use of the SMART format; goals are specific and framed by times for completion of the overall goal (as well as individual action steps), and progress towards goals can be measured. Additionally, goals are both achievable and realistic.

Achievable and realistic

Some struggle with this last concept that goals must be achievable and realistic. Think of it this way: for a non-runner to say that they were going to set a goal to place in the top three in the Boston Marathon, there’d be a lot that would stand in their way as they moved towards that goal. It doesn’t mean that a penultimate goal might not be to run in the Boston Marathon and to place in the top three, but it means that a better goal would be set for a more immediate reward along the way and would help them transition from a non-runner to a marathon winner.

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Students track their progress towards their goals visually and have regular goal-setting meetings with their teacher or counselor to review performance, identify barriers to progress and brainstorm solutions, and to celebrate wins as they happen. We can’t assume that students grow up knowing how to do this, just like we can’t assume that, as adults, we’re any more talented at it.

As we are all works in progress, let’s follow in the words of Whitman by celebrating ourselves and singing ourselves. Identify the goals that are important to you, down to their most discrete steps. Clearly provide yourself a timeline for completing them, and place a visual reminder of your success in that step in front of you to keep your progress going.

#SettingGoals

Roger is a Staff Writer at The American Genius and holds two Master's degrees, one in Education Leadership and another in Leadership Studies. In his spare time away from researching leadership retention and communication styles, he loves to watch baseball, especially the Red Sox!

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Business Finance

How to invest in any cryptocurrency without the IRS hunting you down

(FINANCE) Paying taxes on your cryptocurrency investments doesn’t have to be a headache with this simple tool.

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token tax for cryptocurrency capital gains

As the 2018 tax season approaches, those of you who took a chance on cryptocurrency may be wondering: Do I have to pay tax on my digital investments? Sorry, but yes you do.

Although tax laws are constantly changing, especially in the wild west of cryptocurrency, fear not. Token Tax is the one tool to rule them all, and can help you report cryptocurrency taxes.

In this past year, cryptocurrency investment has skyrocketed. The total market cap rose over 1000 percent, even breaking a record and climbing over $600 billion in December.

Coinbase, the most popular online platform for buying and selling digital currency, gained one million users in one month alone.

Cyrptocurrency’s increasing popularity led to changes in IRS rules.

Although cryptocurrency investors were previously able to use the “like-kind” tax code exemption, the IRS now says digital investments must be taxed as short and long-term capital gains.

Back in 2015, only 802 Americans reported Bitcoin related gains and losses. At the time, cryptocurrency could technically be categorized a property instead of income. The 2017-18 year should show a greater increase in reports due to the new IRS regulations.

It can be difficult to determine how to report your taxes, and many other available tools victimize you with information overload. Understanding your tax liability is no fun at all, but it’s not something you’d want to get wrong unless tax jail sounds exciting.

The newly minted Token Tax does the work for you, integrating directly with Coinbase’s API to import all your investments in an easy to read format that’s directly exportable to the IRS. Kraken, Bittrex, and GDAX are also securely integrated with the platform.

Using FIFO, Token Tax calculates your tax liability and displays it in an easy to read interface. You can then export a fill-out 8949 form directly to your accountant or the IRS for review.

Creators Alex Miles and David Holland Lee say they believe Token tax “could be the TurboTax for crypto.”

Even though Token Tax is still in test mode, not even beta, it caught our attention by winning first place overall in Product Hunt’s Global Hackathon.

If you have invested in cryptocurrency and want to get ahead of the curve for tax season, check out their demo and see for yourself.

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Business Finance

Crypto gets trendy – earn digital currency for taking steps

(FINANCE) Crypto is on exciting, not just with values skyrocketing and falling from day to day, but with new ways to earn and invest.

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fitness tracker sweatcoin crypto

If investing actual money into cryptocurrency isn’t your thing, consider investing calories instead. Sweatcoin — a free app for iOS and Android devices — allows you to do just that.

The premise behind Sweatcoin is simple: you earn virtual currency for a certain number of steps. When you’ve earned a certain amount, you can redeem your Sweatcoin earnings for a number of different rewards, including things like vouchers for yoga classes, fitness apparel, and Apple products (e.g., an Apple watch or a new iPhone).

In order to begin earning with Sweatcoin, you just need to install the app, turn it on in the background, and start walking. This means that you’ll need the app running for the duration of your workout, so make sure that your battery is charged and that you’ve allowed the app to access your location services before heading out into the great unknown that is your cul-de-sac.

There are a couple of minor caveats for Sweatcoin, the first of which is its overhead fee.

While you don’t have to pay to use Sweatcoin, you’ll only “take home” around 65 percent of what you earn. This is in part due to Sweatcoin’s fraud prevention services, so it’s for a good cause — just don’t count your virtual chickens before they compile.

Another issue with Sweatcoin is that it only counts your steps when you’re outside. If your preferred method of walking, running, or skipping (if that’s your thing) involves a treadmill, you’ll need a pretty long extension cable.

The final caveat is that, unlike other cryptocurrency like Bitcoin or Ethereum, your earnings won’t compound. Sweatcoin is contingent solely on your activity, not on market behavior or current investments; if you’re looking to build up a crypto portfolio, this probably isn’t the ideal venue for you.

Of course, your body is perhaps the strongest asset that you can own, and investing in it is more likely to have serious long-term benefits than is investing in any kind of cryptocurrency. This is the largest benefit of Sweatcoin: it incentivizes you to work out and take extra steps (literally) long enough for doing so to become a habit. That’s hardly a downside.

If you don’t mind an extra few (thousand) steps per day, Sweatcoin is worth checking out.

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Business Finance

Freelancers: How to stop billing hourly and get the cash monies you deserve

Working as a freelancer isn’t easy. Despite the hard work, many professionals choose this route in order to escape the daily grind of working for an hourly wage. Why, then, do clients still insist that freelancers charge them by the hour?

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Value-based billing

Working as a freelancer isn’t easy. Despite the hard work, many professionals choose this route in order to escape the daily grind of working for an hourly wage. Why, then, do clients still insist that freelancers charge them by the hour?

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You became a freelancer to get away from the mindset that each hour of your time is worth a certain number of dollars. So if you are still billing your clients an hourly wage, you may want to seriously consider shifting to value-based billing.

Each hour is not worth the same amount

Robb Eng, a senior marketer and writer for Web Design Ledger, provides some valuable advice for freelance web designers, but his tips hold up for any freelancer who would like to get free from “the trap of trading hours for dollars.”

First, Eng describes some of the problems with billing by the hour – and if you’re already doing it, these should sound familiar to you. For starters, each job requires a number of different skillsets. Some parts of the job require intense concentration and all your years of experience and education. Other parts any amateur could do in their sleep.

Averaging these disparities out into an hourly wage is tricky – and billing different rates for different tasks is far too burdensome.

Besides being confusing and inconvenient, the biggest problem with hourly billing is that it causes the client to focus too much on how fast you can deliver the task, rather than how well.

Quantify your goals

That’s why it’s so important to shift the paradigm to one of “value-based billing.” As a freelancer, you must show the client the value of your services – in other words, how they will benefit the business. Eng gives an example of a website redesign that could increase profitability by $100,000. When you think about the total value your work will bring to the business, suddenly charging $10,000 or $20,000 looks like only a small fraction of the total value you are providing.

When you asked to be paid relative to the total value you are providing from the business, it changes your role from wage worker to co-collaborator.

Instead of stressing about the bottom line, you are working together with the client to maximize profit for both parties.

To convince hourly billers to switch to value-based billing, you may have to ask some questions. As much as possible, get an idea of the quantifiable goals of the project. How much will the project increase profit, lead generation, or conversions? Try to charge between 10 and 20 percent of the value you’ll be providing for the client.

Price plans and tiers

Next, offer a few different price plans, because people love options. You can charge a flat rate for each service, a monthly or yearly rate for ongoing maintenance, or you can provide several tiers of services at different rates.

Of course, before you get to these steps you’ll need to find out if your client is open to value-based billing. If not, consider walking. If so, be sure to maintain positive relationships. Nothing adds value to a job like a trusting relationship.

#NoMoreHourlyWages

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