Finance
10 Random Questions To Ask Yourself About Money – Part 3
Welcome to the latest series on JosephSangl.com – 10 Random Questions To Ask Yourself About Money
These are 10 questions that have personally challenged me in my finances, and I know they can help you too!
Question 3 Do I add value to my workplace?
This question can take one aback at first. I have found that many people have never asked themselves this question, nor have they thought of their employment this way. The fact is this: If we do not bring more value to our workplace than the amount of money our employer pays us, then we are not going to be employed long-term!
Here are just a few ways that employees add value:
- Produce a product or deliver a service that the customer pays for
- Sell products or services
- Identify and deliver cost-saving opportunities for the company
- Maintain accurate records and information such that wise decisions can be made based on clear information
- Negotiate agreements with suppliers that result in savings for both parties
Employees that can clearly substantiate their value to their employer have a much better opportunity for promotions and pay increases – which can help the budget substantially!
ACTION: Take a few moments to write down the ways that you bring value to your employer. Do your best to write down the actual value where possible.
10 Random Questions To Ask Yourself About Money – Part 2
Welcome to the latest series on JosephSangl.com – 10 Random Questions To Ask Yourself About Money
These are 10 questions that have personally challenged me in my finances, and I know they can help you too!
Question 2 Do I go to work just for a paycheck, or am I doing what I LOVE to do?
Life is too short to spend just working for a paycheck. If you are just working for a paycheck, don’t quit today, but start taking the necessary actions to change your life in the future.
Here are some things I did to ensure I could pursue my dreams:
- I went to college and got Bachelor’s degree in Mechanical Engineering (from my beloved Purdue University!)
- After working for a couple of years and realizing that engineering was not what I wanted to do the rest of my life, I went to Clemson University and obtained a Master’s degree in Business Administration
- I sought out opportunities to work in areas of companies that allowed me flexibility to grow my skills – leadership, technical, social, and business skills.
- My bride and I became debt-free (except for the house) and this gave us financial margin to pursue a dream
NONE of these decisions were EASY. NONE of them were free. I paid ENORMOUS amounts of money and time to pursue these dreams. As a result, I am able to do what I love to do.
Here’s the TRUTH: You can do this too!
ACTION: Identify the key steps you need to accomplish to pursue your dreams – WRITE THEM DOWN – and then develop a plan to accomplish them.
Every race starts with one step.
10 Random Questions To Ask Yourself About Money
Welcome to the latest series on JosephSangl.com – 10 Random Questions To Ask Yourself About Money
These are 10 questions that have personally challenged me in my finances, and I know they can help you too!
Question 1 Do I really need everything that I pay for every month?
Many people have signed up for a service in the past that they no longer use. In fact, many people have monthly charges that they do not even realize they are paying because it is embedded in their credit card bill or telephone bill. For others, it is a gym membership they no longer use. You might even be paying insurance premiums for a vehicle, boat, or motorcycle that you have sold, but failed to stop coverage.
ACTION: Take a few minutes when you are doing your bills this month and review your bills for any recurring fees.
If I Had A Million Dollars
“What would you do if you had a million dollars?”
It’s a great question for anyone to ask themselves – because if you apply the tools and principles taught in I Was Broke. Now I’m Not., you will have a million dollars one day!
Today, I would love for you to share with us all: “What YOU would do if you had a million dollars.” – SERIOUSLY – I want to hear from you!
Some Of My Dumbest Financial Moves
I thought I would share a few of the dumbest financial moves I have ever made. As I wrote these, I experienced some feelings of frustration, regret, pain, a distress that I felt when I was totally broke.
- Financing a new car with 105-percent financing (I even financed the sales tax)
- Financing a used truck with 100-percent financing
- Financing another used truck with 100-percent financing
- Operating our finances without a written plan (budget)
- Preparing a budget, but failing to follow it
- Buying a “fixer-upper” home and seriously underestimating the costs – time and money
- Buying the stock of a company that was free-falling (Conseco) – it went on to be zero value
- Paying full price for a new home – without negotiating anything down
- Loading up credit cards and paying the minimum balance for several years
- Spending every dime I made without saving anything (no margin = guaranteed financial failure)
Care to share some of yours?