Sunday, June 22, 2014

The Law of Contribution: 7 Tips to Cultivate an Attitude of Growing Others



“Out of what I had received in my development, I was also able to give. The confidence I gained from personal growth gave me credibility and made me believe I could start developing others. And in that, I found life’s greatest joy and reward.” 

Isn’t one of the most satisfying things seeing the success and growth of those you invested in at one point? John Maxwell explains in The 15 Invaluable Laws of Growth that by growing yourself, you’re enabled to grow others.

However, even when you are generous with your knowledge and skill, you must be intentional in your efforts to add value to others. Positive qualities we possess can be multiplied when we cultivate an attitude of contribution.

Check out this list of 7 ways to develop a mind-set dedicated to growing others:

1. Be Grateful
“I am the recipient of many benefits that I do not deserve and did not earn. Someone else paid for them. I am grateful! How do I show my gratitude? By daily pouring into others and passing on to them the things that will allow them to run far and achieve beyond what I have done.”

Something we know and believe is that no one succeeds alone. It is our calling to pass along the development and influence we have received over our lifetime. In paying it forward, we can multiply our efforts, trusting that those we lead will also work to grow others.

2. Put People First
“People continue on. What you give to help others builds them up enough that they are able to give to others. It’s a cycle that can continue on long after you’re dead and gone.”

When you think of successes in your life, what do you remember? Likely you remember the people with whom you shared those wins. People are a huge part of our lives, and as leaders, our actions impact so many. By building our people up and putting them first, we show that they are valuable and worthy of great growth.

3. Don’t Let Stuff Own You
“Contributors take the stuff they own and use it as an asset to make this world a better place to live. And they do this regardless of how much or how little they have.”

So many people pride themselves in what they own. This doesn’t bring joy or benefit to anyone. Instead, we must let go of what we have and give it to others. Time, attention, money and resources – all can benefit others in great ways.

4. Don’t Let People Own You
“It’s hard to give yourself away when someone else owns you. I wanted to be able to value people with no strings attached.”

Although we consistently benefit from others, we can’t become indebted to them. When we are “owned” by others, we don’t have the chance to give what and when we want. Instead, we must aim to be on the giving side of every relationship.

5. Define Success as Sowing, Not Reaping
“If you live life with the intention of making a difference in others’ lives, your life will be full, not empty.”

So often people sow with the expectation of quick returns and are disappointed when that is not the case. Instead, we must sow and be prepared to wait for the harvest in due time. During that time, take a step back and recognize the immense impact you have on others. That is the true reason for living.

Sunday, June 15, 2014

Should You Save or Pay Off Debt?

By Sandra Block, From Kiplinger's Personal Finance

Saving for long-term goals tends to take a back seat to expenses such as child care, groceries and health insurance. And if you’re also paying off debt, saving for retirement and college may get pushed to the curb. 

But putting off saving for retirement until you’re debt-free could cost you the most valuable asset you have: time. Thanks to the magic of compounding, even small contributions to a 401(k) or similar retirement plan will grow significantly, especially if your company matches contributions. If you can’t come up with enough money to hit the annual limits, or even close to them, “at least contribute enough to get the match,” says Sheryl Garrett, founder of the Garrett Planning Network.

Saving for college isn’t as pressing as saving for retirement or paying off credit card debt, says financial planner in Charlotte, N.C. “It’s nice if you’re able to save something for your children’s education, but the biggest priority should be taking care of your needs. You can’t borrow for retirement. You can for college.” As for getting rid of the credit card debt, “I think that trumps saving for education.”
Cheryl Sherrard, a certified

To free up more money for savings, pore over your expenses for ways to cut; look at how much you pay for your cell-phone plan, cable package and restaurant meals. Use the extra money to “really attack your debt. Go at it with guns blazing,” says Garrett.

Prioritize your debts. Start with credit card debt, which you should pay off as quickly as possible. Paying off a card with an 18% interest rate is the equivalent of earning an 18% return. Be wary of transferring your balance to a card carrying 0% interest, says Garrett. Ask yourself whether you’ll have the discipline or ability to pay off the balance before the rate goes up; if not, you’re back where you started. “The only way I’d advise people to switch to a 0% or teaser rate is if they have a plan to truly attack the debt and get it paid off by the end of that term.”

Monday, June 2, 2014

Have More, Need Less: The Simple Guide To Saving

  Contributor, Forbes.com

Do you save enough? Congratulations, no need to read the rest of this article.

Okay, for the 99.99% of you still reading, take heart. Saving is one of those things that’s hard at first, then becomes easier and easier in time.

Why so hard? Because saving is a form of self-denial. Yes, a vacation would be fun right now, but saving adequately means putting off that weekend getaway. A new car might drive a little better, but buying used or driving your current car longer is likely a better use of your money.

Take a look at your paycheck. You’ll notice that there are a number of fixed deductions built right in. Federal and local taxes, for instance. Social Security and Medicare payments.

Do you see a line that says “Your Retirement” on your check? You should. If not, it’s time to walk over to human resources and fix that. Getting an automated savings system in place is the hard part, but it will become easier, and sooner than you think.

Here are the three key steps to saving more for your future:

1. Pay yourself first

That’s the automatic retirement deduction into your 401(k) at work. People often aim for a percent of their paycheck, but be careful not to pick a comfortably low figure. Save enough that it actually hurts at first.

Over time you will adjust to a high savings number. You are also likely to get raises. You are unlikely, however, to voluntarily raise your savings level soon. Better to bite the bullet now.

2. Pay less taxes

This goes hand-in-hand with using a 401(k) or IRA to save for retirement. Every dollar you take out of your check now grows tax-free over decades. It lowers your tax bill today and, presumably, will result in lower taxes in the future when you begin to take retirement income out.

The assumption is that your cost of living in retirement will be lower, since you are not likely to be making fixed payments such as a mortgage or saving for college for your kids. It’s a win-win, and paying less taxes today makes it easier to set the savings bar higher, earlier.

Read the full article online..