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Your personal human capital is an essential part of evaluating your overall worth. Human capital has a number of definitions, but in this case, it refers to a measurement of who you are, particularly in relation to how you might be seen as valuable to an employer or a client. This isn’t the only way to define a person, but since it ties directly into your future earnings and your potential net worth, it is related to finance and shouldn’t be ignored. It’s as important, or even more important, than your net worth measurement.

Consider two job applicants with identical technical skills and education, both pertaining to the job description, and a similar personality that could result in either choice being a good fit for the company. One of the applicants has indicated that he has often been called upon to present information about hie field to the public. Having presentation skills can make a prospective employee more attractive to the employer. The ability to eloquently, entertainingly, and comfortably lead a discussion or present information in front of an audience can open opportunities.

Anyone can throw together a Powerpoint presentation together, but delivering that presentation isn’t as easy as reading the bullet points. Anyone can write a speech, but elocution is a skill that requires careful honing.

Most people in “business” head directly to Toastmasters. Toastmasters uses a standardized curriculum and a safe practice environment that allows people to receive the education and experience they need to take their presenting skills to the next level. My former company, at the satellite location where I worked, had an internal Toastmasters group. We met once every two weeks to critique each other’s speeches or presentations and gain experience speaking extemporaneously about random topics assigned in the moment.

Outside of Toastmasters, you can gain experience speaking and presenting by organizing an event in your community. Libraries offer these opportunities as do community centers and religious organizations. If your field of interest holds conferences, try to get on the schedule of speakers.

Public speaking is acting and performing

Stage fright is a common barrier to increasing public speaking experience. There are two keys to overcoming stage fright or performance anxiety: being overly prepared and breathing properly. Even though the solution is simple, it isn’t always easy. Even veteran actors deal with stage fright, so it isn’t something that is easily cured even it can be managed. Acting experience can be beneficial for public speaking, as many of the skills are similar. In addition to acting, any kind of performance experience — music, dance, etc. — can have positive effects on confidence and the ability to successfully deliver a speech.

Acting also helps develop a performer’s presence. If you’re speaking publicly, you’ll need to have a presence that’s informative and trusted. The best speakers are sometimes described as “larger than life.” You know when they walk into a room that whatever they have to say will be worth hearing.

Actors develop emotional communication skills. Without saying a word, an actor can convey an emotion. The audience will be able to understand what the actor is thinking or feeling. Skilled actors can transmit those emotions to the audience, so the spectators can sympathetically feel what the actor is feeling. This is an invaluable skill for speakers. It could mean the difference between a good presentation and a speech that has the audience on the edge of their seats.

How do you suggest gaining public speaking experience?

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About the author: Margaret is a recent college graduate who, with her boyfriend, plans to save up money to get married, pay off student loan debt and head to seminary.

Money is one of those things you’re not supposed to mention in polite conversation. But if you’re married or in a serious relationship, you have to talk about it.

My boyfriend is the spender; I’m the saver. He’s never had any guidance on how to manage money; my dad had me putting money in a savings account while I was still in the cradle. Coming from such different angles meant that starting the conversation about money wasn’t easy.

But it doesn’t have to be something you dread if you follow a few simple principles. Most importantly, pay attention to how your significant other views money, because that will help you learn how to best communicate what you’re thinking and feeling.

Start out slowly.

It would have done little to no good if I had immediately emphasized IRAs and CDs and how much money he can make in twenty years if he starts saving now. I started simply and slowly, not because he’s dumb, but because changing your views on money eventually transforms your entire life, and that kind of thing doesn’t happen overnight. I began the conversation by suggesting that he get on a budget. He was very positive toward this, so we sat down together and wrote up a plan. I also helped him set up an online high-interest savings account so that he could start building an emergency fund.

That said, it wasn’t all flowers and butterflies at the beginning. I helped him come up with a budget and gave him tools to track it, only to find out several months later that he hadn’t been tracking his spending at all, and often he had no idea how much money he had left in his checking account. At this point, I had to go back to square one. We revisited the budget and talked about why he hadn’t been able to keep track of his spending. I offered to keep track for him, if he would just give me his receipts.

It turned out that he really wanted to keep to the budget, but he got tired of keeping his receipts. I suggested he use his debit card for all his purchases so that he wouldn’t have to keep his receipts. That didn’t solve the problem completely — he still has trouble sticking to his budget sometimes — but by talking about it and being creative with solutions, we made the transition just a little bit easier.

One of the things I learned as a psychology minor is that it is more effective for you to come to a realization on your own rather than having someone try to persuade you. If your partner has outrageous spending habits, saying, “You should stop buying so many clothes” will not be welcomed. Choose instead to say, “Have you ever thought about keeping a budget? I’ve found it really helps me stay in control of my money.”

Even if they don’t stick to the budget the first few months, just tracking their spending will open their eyes to where their money is going. And that may lead them to address on their own their tendency to buy more clothes than they can afford.

Be patient and realistic in your expectations.

If you’re anything like me, it took you more than a few days to come to your current understanding of how to make wise decisions with money. Don’t expect your significant other to come to that point any more quickly. In fact, don’t expect them to ever feel exactly the same way you do about money. I’ve accepted the fact that my boyfriend will never, ever enjoy tracking every penny he spends, but that he can learn how the choices he makes today with money will impact his future. And so I focus on sharing personal stories I’ve read on blogs about how other people manage their money. This has actually made him more interested in personal finance, such that we listen to a podcast on personal finance together every week!

Don’t talk about money all the time.

If your finances are in trouble, then the last thing you need is for your talking about it to make it seem like money is the third member of your relationship. When my boyfriend told me that it sounded like I was getting a little obsessed with money, I knew it was time to step back. Now we pick a night each month to go out to eat and talk about his budget. Because I’m doing my best to avoid talking about money when we’re just hanging out, he actually looks forward talking about his budget once a month.

Only talk about money when you’re calm and composed.

If you just found out that your girlfriend maxed out her credit card, don’t start dialing her number. Wait. Money is a stressful enough topic on its own; add your own anxiety to the mix, and you won’t get very far. Of course, it’s most effective to talk about money before the stressful situations occur, but if you’re already in the thick of it, make sure you’re able to discuss any problems without being defensive or making broad generalizations. It’s amazing how quickly you can diffuse money-related tension by maintaining a calm presence of mind.

Stay in control of your own finances.

You are the best model for your significant other. If you’re telling him to save, save, save, but you consistently spend hundreds of dollars on clothes, then it will be hard for him to take you seriously. Even if you’re married and have joint finances, you can still manage your money in way that will keep you from being a hypocrite and also provide a very personal example of wise habits for your spouse.

By maintaining control of your finances, you say more about your philosophy with your actions that with your words.

See money as a means to an end.

You may be perfectly happy never going out to eat or buying new clothes, but that might not be the case for your significant other. Instead of letting it come between you, use money as a way to bring you closer together. Set a savings goal for a fun trip. When I helped my boyfriend make his budget, I made sure there was at least a small amount of what he calls his “fun money,” which he can spend anyway he wants. We also really enjoy cooking meals together, so we make sure we have a little extra money in the food budget for more exotic ingredients.

Earning and saving money is not a goal by itself. The power of money is not a big bank account, it’s what options you have with a big bank account. Money exists to be used rather than collected.

Choose your battles.

My boyfriend was fairly receptive to my suggestions, but you might be faced with a partner who isn’t so keen on making any changes with their finances. A few days ago, my boyfriend had about $40 left for food and eating out in his budget. He needed to buy groceries for the next week and have some money for food when traveling for Thanksgiving. I told him I wasn’t sure if he should go out to eat for lunch at work one day, but he went anyway and spent about $9. I was so tempted to get angry, but instead, I let it go. It wasn’t worth $9 for me to nag him and him to feel like I was completely oppressing him financially. That way, when a situation comes up where his choice about money really is important, he’ll know that I’m not just a Scrooge trying to take away all of his fun.

If all else fails, bring in a third party.

You can’t wait until your husband has hit rock bottom to address your finances. If your significant other feels like you’re nagging or doesn’t think that any of your ideas are appropriate or helpful, then bring another person into the equation who can speak into the situation. My boyfriend started talking to an older friend of his about money, and his talks with that man have done much more than many of my attempts. Seek out someone who your partner respects and ask them if they’d be willing to sit down and talk with you.

And encouragement is just around the corner. Just last week, my boyfriend was faced with car trouble. In the past, his parents had to loan him money to help him fix things like that. The cost for the repairs was almost $800, but he had been faithfully putting money in an emergency fund, and he had just enough money to pay for the expenses. He was so excited to tell his parents he wouldn’t need to use their money, and for the first time, I saw him taking pride in his control over his finances. All the pestering and obsessing I could have done would never have made him feel that way.

Above all, realize that change takes time. Celebrate staying within the budget, paying off credit card debt and finding more frugal ways to do things. Money has the power both to build up and to tear down, but by talking about money together in a positive way, you and your partner can stay in control of your relationship instead of letting money control you.

Photos: reebs*, crschmidt, gustavobando, Sabrina Campagna

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This article is by Consumerism Commentary staff writer Smithee, who is juggling about a dozen clients and creative projects as a freelancer.

It’s been a year since I was laid off and decided to become a full-time freelancer, and it’s been six months since my wife and I made a risky decision to move the family from Dallas to San Diego. Overall, we think moving was the right thing to do, but there are a few things keeping me anxious.

I’m writing this update from the Starbucks near the house we’re renting in San Diego, because Starbucks has air conditioning, and the heat and humidity in the house were too difficult to ignore. The good news is that today is only about the tenth day that it’s been too hot in San Diego since we moved back in April.

Productivity

As I hoped, moving to a place with nice year-round weather has had a good effect on my ambition and productivity levels. Some people like warm weather, but I found that Texas’s six-month-long summers would infect my outlook and attitude, creating tense and downright depressing work relationships.

In addition, working for myself means I can create my own hours and I’m not suffering from road rage or dealing with the rising gas prices. To be fair, though, San Diego’s rush hour is literally only an hour long, which is a level of sensibility I never saw in New Jersey, Seattle, or Dallas.

Most days I even have enough time in the morning to sit down and eat breakfast outside, which is part of my American dream.

San Diego at Night

Moving is expensive

Including fixing up the old house, packing, storing and moving all the stuff, animal medicine and drama, paying an agency to rent out our house in Dallas and $4,600 for the first & last months’ rent plus a security deposit in San Diego, moving wasn’t something we could do with cash on hand. We’ve created over $10,000 in credit card debt for the privilege of living somewhere better, and it almost always seems like the right decision.

Long-time readers might remember that I spent over a decade with thousands in credit card debt, before I finally buckled down and, with the help of a respectful salary, wiped it out over about nine months. I hate credit card debt, and knowing those balances are out there building interest against me causes some anxiety. The silver lining is that the “San Diego debt,” unlikely my legacy solo debt, is something that my wife and I are both contributing toward reducing, so it should go away that much more quickly.

The best part about our move (financially speaking) is that we’re saving at least $200 a month on air conditioning, which is the same amount more that we’re paying for housing. If we didn’t have to spend so much on rent deposits and agencies, it’d basically pay for itself. Over time, it will.

Debt reduction strategy

We’re not really reducing debt in a meaningful way, yet. At the moment, my wife has the big dependable salary. My work sometimes generates large paychecks, but freelance work is not reliable, so I’ve been spending more time finessing and futzing with each month’s household budget instead of putting payments and savings on auto-pilot.

I’ve been using the 50/30/20 guideline, and in the months where I have large freelance income, we’re able to save quite a bit. I know what I’m supposed to do is keep saving until we have three months’ worth of emergency savings available, or put it toward credit card debt and then build emergency savings.

What I want to do is use it to pay off the car loans early. One is on a schedule to expire in January, and the other one in June of next year. They add up to over $1,000 a month, and unlike the credit card debt, they always require the same regular payment amount, or else bad things happen.

In fact, once the car loans (and the old IRS installment) are completely paid off, we could fulfill all of our “needs” (the 50 part of 50/30/20) with just my wife’s salary. If things go the same way they have been, and if there aren’t any expensive emergencies, isn’t it smarter to free up $1,000 a month for saving or debt payments?

That’s the trick, isn’t it? You’re supposed to assume there will be emergencies that require you to have saved up a lot. I’ve never had that much saved in my life, but I’ve also never been hit with a truly expensive emergency, and I am impatient to be out of debt.

Photo: robsettantasei

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This article is written by Consumerism Commentary’s new columnist, Ellen Cooper-Davis. Ellen’s column will look at the role of spirituality within the context of personal finance. For an introduction to this column, see Ellen’s first article, The Pastor and the Purse. Your feedback is welcome.

“There’s a phrase we live by in America: ‘In God We Trust.’ It’s right there where Jesus would have wanted it, on our money.” –- Stephen Colbert

I’m always glad to have a chance to increase my vocabulary; during these last couple of weeks, a favorite word among economists everywhere was whipsaw. The actual tool itself is that sort of old-fashioned long saw with a handle at each end used by two lumberjacks at the same time to get through a tree. But it also means what happened on Wall Street recently. The market was whipsawed, and for those watching their portfolios or retirement accounts closely, it was not unlike whiplash.

It’s tempting, in difficult times, to shake an angry fist at the sky. And these are, for many, difficult times. I can see it in the rise in requests from local food banks, in the discouragement of those who have been unemployed far too long, in the retiree who doesn’t know how to stretch that budget any further, in the eggshell-walking of those who just want desperately to hang on to the job they do have. It all feels rather fragile.

Trust is a funny word when it comes to our financial lives. It’s a very interesting word to put on money, given how anxiety-provoking money (its presence or lack) is in so many people’s lives. We are expected, in some way, to trust everything:

  • Trust our financial systems.
  • Trust the principles of capitalism.
  • Trust the huge banks and corporations that manage so much of the stuff.
  • Trust that it will all work out in the end.

In shaky economic times like this one, I wonder about how that trust is holding up. Do we still trust that we’ll return to a growth economy? That our nest eggs will go back to growing, instead of stagnating? The phrase “In God We Trust” has been on American coins since 1864 and on paper money since 1956. I can’t help but wonder whether this assertion seemed a little absurd during the Great Depression. If we lose our trust in the institutions and systems, then what’s left?

Another word for trust is faith. As we survey our personal and national economic landscape, it’s worth pondering what we really have faith in. Beyond institutions, corporations, banks, economic philosophies, all of which can and do fail, in what can we place our faith? Where lies our ultimate trust that “All shall be well, and all shall be well, and all manner of thing shall be well?” What keeps us from cynicism and doomsday prophecy, from the assumption that when the systems fail, human communities will be reduced to a sort of Lord of the Flies survivalist competition?

I have faith in a foundational human spirit of generosity. Over and over, we seem more inclined to care for our neighbors than not, especially in times of shared crisis. I have faith that one of the primary characteristics of Life, itself, is abundance, and when we remember that we, too, are part of that Life, that sense of abundance can color our understandings of what enough looks like, and help us see beyond material abundance. On a really good day, I even manage to have faith in something like God, something whole and compassionate that urges us to be bearers of wholeness and compassion in our own lives-even our financial lives.

In the Buddhist tradition, a monk goes out each day with an empty bowl. Whatever others place in his bowl will be his nourishment for the day. When our bowls seem empty, perhaps we might go out into the world and experience its abundance for ourselves. And when you see an empty bowl, perhaps you might put some nourishment into it.

In what do you trust in anxious times? Where do you place your faith? When things are looking economically bleak, what sustains your hope for having enough resources?

Editor’s note: See the “About the Author” section below to learn more about the author, Ellen Cooper-Davis. Ellen’s column appears approximately monthly on Consumerism Commentary.

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Getting Out of Debt: Make That New Year’s Resolution Work

by Flexo

Along with losing weight, getting out of debt is the most popular New Year’s resolutions in the United States. In general, this resolution like all others tend to be forgotten within weeks. If you resolve to getting out of debt this coming year, here are some ideas for not losing sight of that goal. Don’t ... Continue reading this article…

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News and Blogs: Thursday, November 13, 2008

by Flexo

I have written an article for PC World Magazine called The Insider’s Guide to Black Friday Bargains. Please read it, and if you are so inclined, give it a “thumbs-up” on the website. A Hypnotic Answer to Financial Angst. It’s becoming increasingly popular for those who worry about money to treat their anxiety through hypnotherapy. ... Continue reading this article…

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Is Anxiety Controlling Your Actions?

by Flexo

I don’t want to belittle the condition of the economy currently. Someone who is close to retirement may have just lost a significant portion of their intended source of income if invested solely in stocks. If you listen to the media and politicians, you might get the impression that the American public is “freaking out” ... Continue reading this article…

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Carnival of Personal Finance #157: Third Anniversary Edition

by Flexo

Welcome to the third anniversary edition of the Carnival of Personal Finance! It’s hard to believe the Carnival has been in operation for so long, traveling to so many different locations week after week, yet here we are, starting the Carnival’s fourth year with a presentation of some excellent articles. Last year’s second anniversary was ... Continue reading this article…

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