Don’t forget to give yourself a gift this holiday season.  Give yourself the gift of being a life long learner when it comes to money.  Promise to make just one new money-information-gathering move a week – starting now. 

Read the first paragraph of every story on the front page of the Wall Street Journal.  Subscribe to Kiplinger’s Personal Finance magazine to be sure you get ongoing, incremental and interesting money news in an easy and informative way.  Take a glimpse at online calculators such as Bankrate.com’s to input your personal money numbers to get projections and information you need.

These are doable goals.  Most of what you need to successfully determine what you’re going to do with your money starts with getting yourself in the right frame of mind for the task.

My gift to you this holiday season is the concept of “mind over money matters” – the process of identifying what you want and why, when you want it, and what it takes to achieve it.  I’ve written about this before.  It was my Thanksgiving wish for each of you.  But let me say it again.  These disciplines work in good times and in bad.    

• Before you decide what to do with your money, first know how you feel about your money.  
• Everyone – from cradle to grave – can benefit from ongoing, continuing education regarding basic money knowledge and responsibilities.
• “Mind over money matters” begins as early as the age of 3 by teaching children the difference between wants and needs – a money lesson that many adults never learned and as a consequence have made ongoing, poor money choices and suffered the consequences. 

Spread your new found wealth of knowledge – up and down the generations of your family.  Inspire the sense of accomplishment that comes when one saves money.  Instill the goal of self-reliance which is the gift each person can give him or herself through money management.

Here’s to your health and wealth.  New Year 2010.

TAGS: importance of life long learning about money, Self reliance through money management

About 45% of Americans make resolutions each year but within a month, the vast majority of those resolutions are forgotten.  Do yourself a favor.  Don’t make any resolutions.  They’re usually not specific enough (I’m going to lose weight), not meaningful enough (I’m going to be a better person), or not realistic enough (I’m going to get rich in 2010) to achieve. 

If you want 2010 to be different than 2009, then plan more deliberately for just a few goals you are committed to achieving.  Keep these tips in mind to increase the likelihood of success:

• Limit your goals to no more than three and write them down. 
• Be as specific as possible.  For example, if you want to go back to school write down what degree you want to pursue and which schools you plan to research.  Or if you want to earn more money in the New Year indicate how much more.
• For each goal include the steps needed to achieve it and dates by which you will take each step.  Then put those benchmarks on your calendar. 
• Enlist support.  Talking about your goals out loud with friends or family makes you more accountable.  Ask for what you need to stay on track.   
• Expect setbacks.  In my experience, the path to success is rarely linear.  Whether it’s a habit you’re trying to break or a goal you’re attempting to reach, there will be inevitable stumbling blocks.  When you fall off the horse don’t give it away, just climb back on and try again. 

Wishing you a happy, healthy, and fulfilling 2010.

TAGS: New Year's Resolutions; 2010 Planning

It’s been a memorable decade. And certainly, the last year has been interesting.

We’ve gone from worrying that Y2K would cause our computers to melt down to wishing that something, anything, would cause our blackberries to stop delivering incoming messages at dizzying speed.

As much as some things have changed, others stay the same; we still take time at the end of the year to make resolutions for the year ahead.

As a chronic resolution maker ─ and breaker, this year, I’m going to take a different approach.

You may be familiar with the acronym S.M.A.R.T. as it relates to setting business goals? I think the process works equally well with personal goals, which is exactly what resolutions are.

1. Specific: Clear goals about what you want to change, learn, do differently, etc. makes it more likely that you will be able to accomplish it.
2. Measurable: How will you know when you have been successful?If your goal is to lose 20 pounds, the scale is a good way to measure success.  If, however, your objective is to build a better relationship with your significant other, think about how you will access your progress.  Perhaps you can institute regular checkpoints where you discuss how things are going.  Or perhaps you keep a journal to track how many times you disagree with one another and rate yourself regarding how well you handle these difficult situations.
3. Achievable: Goals should be stretch but not completely out of reach.  If you set your sights too high, you will be setting yourself up for failure. Too low and it’s not worth worrying about.Another issue is that if you can’t control the progress toward the goal yourself, then revise the goal to one that you can control.  For example, if your resolution is to pay down your credit card debt but your husband keeps charging, then perhaps you need to decide how much of your current, collective debt each of you will be responsible for and then negotiate with one another how to manage making the payments.
4. Results- Oriented: It’s the result that counts, not the intent.  This will keep you from making excuses to yourself about why keeping your resolution was too difficult and to award yourself points just for effort.
5. Timebound: There has to be an end in sight.  Be realistic about the right time frame to assign to any resolution

My plan is to use S.M.A.R.T. criteria to evaluate any of my resolutions. If the resolution doesn’t pass muster with each,  I’m moving on.

Hope this process helps you too; please let me know if you use it.

All the best in 2010.

TAGS: achieving goals, LinkedIn, resolutions

If you want to get your child a gift that keeps on giving – consider a Roth IRA.

Funding a Roth Individual Retirement Account for your child or grandchild’s future is a gift that will literally and figuratively be appreciated in the years to come. 

I know.  I have kids.  Your son or daughter might want something digital or shiny for his or her next gift.  But if you get them into the right frame of mind with a little explanation, he or she might actually prefer some financial security and learn an early lesson about the importance of mind – over money matters. 

You plant the seed (by funding your child’s Roth IRA), and then see how it (and your child’s money intelligence) grows: 

Say you open a Roth IRA for a 15-year old and fund it with $1000. If the money in that account grows at an annual percentage rate of 8%, which is a conservative rate, that $1000 investment will become about $47,000 in 50 years.  

The seed grows.

 If you added another $1000 to that Roth IRA over the next four years, it would make your total contribution $5000.  By the time that child turns 65 years old, their Roth IRA account will be worth more than $250,000 – without adding another dime beyond the $5000 you contributed. 

Your child’s money intelligence grows.  It sees value in and the power of long-term compounding.  This is a measureable and heartfelt return on your investment.

It’s never too soon for children to get/be taught a tiny but firm financial grip!  How you think about money usually rules what/how you do with your money for life.  Change/re-calculate your relationship with money.    Give yourself the gift of growing your best asset:  your mind.  You’ll be amazed at the amount of random and intuitive money knowledge you already have! 

Gift yourself a kinder and gentler financial frame of mind for the New Year: Mind over money matters.  Because mind over money – matters.  Think it.  Teach it.  Preach it.  Show it.  Grow it.  Share it.  Declare it.  Use it.  Protect it.  

Here’s to your health and wealth.

TAGS: Roth IRA, Roth IRAs for children

The bittersweet truth about this season is that it can bring much joy and many warm memories, but for many women it also brings stress, anxiety, guilt, and ghosts of holidays past.  A client in her twenties told me that she hated going “home” for the holidays because, as an unmarried member of the family, she was still treated as “less than” her married siblings with children.  One manifestation of this was her being expected to sit at the “children’s table” because there were too many people for the dining room table. 

Regardless of the time of year, remember that you cannot control what others say or do but you are in control of your response to it.  Here are some tips for setting boundaries and finding your voice in sticky family situations:

• Embrace your adult woman.  Tell yourself that you are no longer a child but rather an adult woman — then respond like one.  If you go along for sake of getting along nothing will change.  Mentally moving from the child to the adult is the first step in being able to set appropriate boundaries. 
• Expect resistance.  Just because you’re ready to change the status quo in your family doesn’t mean they will understand the shift in your behavior.  If you’ve always been accommodating others may interpret new behavior as temporary or you just being overly sensitive.  View resistance from others as a normal reaction to change but stick with your gameplan.  Eventually it will become the new “norm.”
•  Find your voice.  Rather than tolerating what you consider inappropriate behavior from others until you blow up, think about what you would like to say next time it happens and rehearse the message until you can say it in a neutral way.  In the case of my client, we had her practice saying “I think it’s time for me to be seated with the other adults.  Let’s squeeze in another place setting at the dining room table.” 
• Suggest alternatives.  Although I’m a big believer in honoring traditions, there may come a time in your life when they no longer suit your life situation.  Perhaps everyone always went to your sister’s home for Christmas Eve but now that you have children of your own you want to spend it in your own home.  Or maybe you’re single and want to go away for a ski trip with friends.  Well before-hand suggest that your parents and siblings celebrate the holidays the Sunday before Christmas.  Again, if you encounter resistance, be prepared to say what you plan to do and encourage others to come up with a compromise that will suit everyone’s needs — including yours.  It might sound like this, “Now that I have a family of my own I’d really like to spend Christmas Eve in our own home.  But it’s also important that we continue to celebrate together so how can we do that in a way that will be fun for us all?”
• Be prepared for backlash.  Depending on the level of functionality (or dysfunctionality) in your family of origin, you may encounter not only resistance but backlash in the form of silence, anger, or shunning.  When this happens, understand that those who engage in such behaviors don’t have your best interests at heart, but rather their own.  If getting your needs met means others will treat you inappropriately, so be it.  Don’t respond in kind — simply continue to be yourself and ask for help in coming to an agreement suitable to all.  Don’t be “guilted” in giving up what’s important to you. You’ll only become resentful in the long-run.
• Set boundaries and parameters and stick to them.  If a holiday event is always made unpleasant by Uncle George who drinks too much or Aunt Hazel who is overly critical of you or your children, extricate yourself  from the situation.  If possible, pick up and leave saying it’s time for you to head out.  Otherwise, leave the room and find a place that feels more emotionally safe.  Here too it’s about you taking responsibility for your response and not trying to control others. 
• Plan for the obvious.  Let’s say you have always spent a week at your parent’s home in Florida — at the holidays or some other time during the year — and you’re always miserable after three days.  You know that a week is too long so plan for a long week-end.  Regardless of the situation, think ahead and make plans that suit your needs while still meeting your inevitable responsibilities. 

 From my home to yours, wishing you a holiday that is meaningful and memorable in ways that are important to you.

TAGS: setting boundaries; holiday stress;

I’ve always loved new beginnings — the first day of a new month, the turning of a new season, even the sunrise of a new day (on the rare occasion I’m up early enough to see it). Of course there is no bigger new beginning than the turning of the calendar to January 1.

This year in particular, the New Year feels like a crucial fresh start. 2009 will go down in the books as one of the hardest years ever for job seekers, especially those looking for entry-level work. If you’ve had a tough time in 2009, or even if it’s been a great year for you, here are some tips for starting 2010 on a successful note.

1. Out With the Old. To make room for new things in your life (a great job, fresh ideas, more money, a strong network, etc.) you need to get rid of any clutter that is weighing you down. This might include critical people, a job that drains your energy, college junk piled in your closet or self-defeating thoughts like “I’ll never get a job in this economy.” For inspiration, check out two of my favorite resources on the topic of simplifying and decluttering: the Zen Habits Blog and Julie Morgenstern’s book, Shed Your Stuff, Change Your Life.

2. Set Quality (not Quantity) Goals. We all know that New Year’s resolutions are generally forgotten by February. So, instead of making a long list of “rules” for my year, I prefer to declare three to five big goals or priorities. I keep them in a little note file on my computer and on a little card pasted on the inside cover of the notebook I use every day. I peek at my list constantly to remind myself what my priorities are, how I want to spend my time and what opportunities I should not pursue. If you need help clarifying your goals, check out Your Best Year Yet! Ten Questions for Making the Next Twelve Months Your Most Successful Ever.

Read the rest of this blog post on my “College to Career” blog on MyPath.com — a great new career resource for college students and recent grads…

TAGS: career advice, Job Search

That’s me!

I was born on December 25 (the year is not relevant!) at 10:30 PM so my mother called me, ‘Carol”.  She has a wonderful sense of humor.  Perhaps because I am a Christmas Carol, I particularly love Christmas. Clearly, not all Thin Pink Line Readers celebrate this particular holiday but I’m sure everyone has a special holiday they do celebrate.

Here’s what I love about my favorite holiday:

• Buying gifts
  As much as I obsess about what to buy, and complain about the crowds in the stores (although this year, I’m not complaining much ─ I’m happy to see people out buying to help the economy) I love the opportunity to please people with a tangible expression of my feeling. Trite but true, the giver often receives more pleasure than the donor.

• Holiday cards
  While one could certainly argue that staying in touch with people only through the rather tenuous exchange of greeting cards isn’t much of a relationship, it still makes me happy to send and receive greeting cards ─ even the ones with the long and often tedious brag letters.

• Getting together with friends and family
  Whether it’s a large party or dinner for just the immediate family, I love the opportunity/obligation to see people. It’s just too easy to let time slip away without making the time to meet face-to-face; holidays force us to get it done.

The most frequently asked question I get when people learn of my special “Christmas Carol” status is, ‘Don’t you lose out?”.   There were years when, as a child, I thought I did because I was never able to have a birthday party on my actual birthday.  Now I’d say that I’m very fortunate ─ mine is the birthday that few forget. I’m amazed that at such a busy time of year some people actually buy a special, “For your Christmas Birthday” card separate card just for me!

Whatever you celebrate,  know that you have my heartfelt best wishes!

TAGS: holidays, LinkedIn

When times are hard, opportunists look for soft landings which is just another way of saying they look for easy targets.  I don’t want you to be one of them.

It’s truly a perfect and decidedly unhealthy storm in our country’s health care arena:  the recession, high unemployment and the prolonged debate among lawmakers regarding health care reform.

The best offense is a good defense.  So always be a doubter when approached (often by fax or email) by someone offering health insurance policies chocked full of benefits at cheap rates.  And please – do not cancel your existing, valid health insurance policy until you absolutely, positively know what the new health insurance policy you’re considering really gives you.

The horror stories are real.  And they’re painful.  Fake policies not worth the paper on which they’re written; deceptive policies that have hidden, expensive costs.  They’re scams – and there are a lot of them out there.

So how do you know the real “health” of a health insurance policy?

• Know who’s for real.  Contact your state’s insurance commissioner to see if the policy you’re considering is with a reputable company.  The company should have a license on file.  Check with the National Association of Insurance Commissioners (http://www.naic.org) to see if any complaints have been filed against the company, the agent or both.
• Don’t be rushed.  Take time to have a good look at the details in the proposed policy.  Fact check promises with what the company has delivered to existing policyholders.  How do you do that?  Ask for references.  Google the agent and company.  It’s amazing the random and often pertinent facts (or at least inquiries) that you can find.
• Demand full disclosure.  It’s never a good idea to do business with a company that won’t provide full contact and location information or only offers an 800 number for phone contact.
• Be wary of “too good to be true” deals.  They usually are – too good - and not true.  Compare the policy you’re considering with comparable policies.  If the price points are dramatically different – there’s a reason – and that usually means a red flag.
• TMI request.  It’s never healthy to give too much (personal) information during a sales presentation.  Your Social Security number, bank accounts, retirement accounts, portfolio details are not required in order for a legitimate insurance agent to give you a policy proposal so don’t be intimidated into doing so.  If pressed, go elsewhere.  There are many good and legitimate agents and companies in the business.
• Too easy to get is too good to trust.  The reality of a pre-existing medical condition is one that’s facing many Americans.  If someone’s offering you a policy regardless a pre-existing condition, which requires no medical examination and is so much easier to get than any other you’ve tried – stop!  If the price offered is too low for the level of benefits promised, it is likely a scam.

Remember that mind over money – matters.  Take a good look at the health of the insurance policy you’re considering.  Make an informed, conscious decision about your medical insurance options before a medical crisis challenges and plays on your emotional state of well being.

Here’s to your health and wealth.

TAGS: health insurance, scams, tips on how to find good policies

While I was playing tennis today (on my Wii!), I was reminded of the importance of focus.  Each time my mind wandered I lost the point.  It wasn’t the first time I noticed this phenomenon.  Whether it’s on the Wii or on the court, when I’m distracted by things I have to do, calls I have to make, or something in the periphery of my vision (literally or figuratively) I lose the point.  I consciously tell myself to focus on only the current point — not the ones I’ve lost or the next ones I hope to win. 

The same holds true in any endeavor.  We are bombarded with the sounds of e-mails coming into our box, phones ringing, and mental messages that detract from our ability to be present in the moment.  Those who pride themselves on the ability to multi-task don’t realize that something gets dropped in the process — details, quality,  seeing the big picture or prioritization.  Current research shows that multi-tasking actually costs more time in the long-run. 

Here are some tips for how you can win at the game of life by focusing on the current point you’re playing:

• Identify what’s truly important in the moment.  If your child is sick or your father is in the hospital, you can’t do your best work.  You may still have to be at work, but cut yourself some slack and do some of the more mundane tasks your job requires.  This will allow you to move easily from the task to the family matter without dropping the ball.
• Clear a path to concentration.  This is done in a number of ways.  Make sure your work space is neat and orderly.  This lends itself to enhanced focus.  Close your e-mail so you’re not distracted by the sound of new mail when it arrives.  Make a list of what you have to achieve and tackle one item at a time.  By writing it down you’re not tempted to jump from one task to another because you’re afraid you’ll forget something.  Similarly, if a thought pops into your head while you’re working on a particular task write that down too.  Keep a running list and cross off each accomplishment when completed. 
• Take short breaks.  When I’m writing a book (or even a post for The Thin Pink Line)  I sometimes get stuck and no matter how long I look at the page the words won’t come to me.  Just getting up from my desk for a moment is enough of a shift for my brain to be able to think more clearly about what it is I want to say.  Don’t move from one task to the other with creating “space” to make the transition to focusing on what you want to do next. 
• Develop a mental mantra.  I may have mentioned this in a previous post.  Early in my coaching career I was in a session with a client and while she was talking I kept thinking about everything I had to do when I got back to the office.  Recognizing this was not the way I wanted to serve my clients, I developed the mantra, “There is nothing more important than I be fully present in this moment.”  Now, when I find my mind wandering I silently say this to myself and find it centers me on who or what is before me. 
• Be realistic.  As women, we tend to think everything is of equal importance and has to be completed before we leave the office.  That may have been possible 25 years ago when there were no e-mails, few voice mails, no cell phones, and fewer meetings but it isn’t today.  Technology has caused us to erroneously believe we can work at the same pace as the machines we rely on to achieve our tasks.  Realistically plan your day and set reasonable goals, factoring in time for inevitable interruptions.  Keep that to-do list updated daily.
• Create “white space.”  This is what I call time to disengage from the tasks before you and focus on things that renew your energy.  It may be taking a walk, reading a newspaper, or playing golf.  You not only deserve, but also need that time to replenish your well.  Just thirty minutes a day makes a world of difference. 

I challenge you to do just one of the tips suggested above and see the difference it makes in the quality of your life and work.

TAGS: concentration, focus, multitasking, Wii

As green careers continue to grow in popularity, I’m pleased to share an interview I conducted with Shari Aaron, co-author of Climb the Green Ladder: Make Your Company and Career More Sustainable.

Lindsey:  For those who don’t know, what is social entrepreneurship and the “triple bottom line”?

Shari: Sustainability, corporate social responsibility, green, and triple bottom line are all terms that refer to doing business in a way that is more sustainable.  These terms refer to taking into account the social, environmental and economic impacts of the way we do business — hence, not just a financial bottom line but a triple bottom line.

There has been a cultural shift in society’s expectations that businesses should work to protect the environment and its people.  In fact, 95 percent of CEOs report that businesses must address the social and environmental pressures of society (McKinsey & Co., July 2007) and mounting evidence shows that employees will drive companies’ efforts to address sustainability (MIT Sloan Management Review, Sept 2009).

Social entrepreneurs work both inside of companies and in their own firms to help advance a triple bottom line approach to business and society. If you utilize entrepreneurial talents inside of a company,  you can be referred to as a social intrapreneur.  The success of social intrapreneurs lies not only in their passion for sustainability, but also in their ability to translate that passion into a great pitch, a solid business plan, and positive, measurable results.

Lindsey:  Can you share some examples of sustainable businesses?

Shari: Companies like Timberland, Green Mountain Coffee, Seventh Generation, and Interface are often referred to as more sustainable businesses as they incorporate positive social and environmental practices into core business operations.  This includes reducing toxic materials, water, and waste while increasing use of renewable energy sources and recycling more materials.  Many large corporations, academic institutions, and government offices are working to increase their commitments to sustainable practices — these include such household names as Johnson & Johnson, HP, and Walmart.  Even the United States Postal Service uses soy inks in their stamps and has made commitments to reducing greenhouse gas emissions.

Lindsey: What does it mean to “climb the green ladder”? What can each of us do as individuals to be more sustainable in our careers?”

Shari: There has been a circular argument about sustainability — many say corporations should green up their acts, others say governments should legislate more on these issues, and still others say that consumers should be demanding products that are more sustainable. Individuals make up all these organizations and each individual has the power and ability to make a difference, to  influence his or her workplace.  In fact, that is what has been happening as more and more employees –from all levels and from all industries — are influencing their workplaces.

“Climb The Green Ladder” refers to a new corporate ladder — one where employees bring their values to work and help their workplaces become more sustainable and profitable. It also refers to a progression and six key principles that are behind all effective sustainability strategies.  These six key principles are outlined in Climb The Green Ladder and have come from extensive research with more than 500 employees and sustainability experts.

Lindsey: What advice do you have for students and young professionals interested in launching or working for a sustainable company?

Shari: I would encourage them to consider joining organizations like New York Women Social Entrepreneurs (NYWSE) that provide a community of support, mentoring, and resources.  I also would encourage them to “get the mindset” around sustainability and to understand the issues that face society as well as to learn as much as they can about how forward-thinking companies and individuals are addressing climate change and limited resources, poverty, toxic waste, etc.  I would encourage them to read Climb The Green Ladder, in which they will learn important principles and case studies to help inspire and motivate them to action.

In addition, be sure to read a company’s and competitors’ sustainability reports and ask relevant questions on job interviews.  Seek out greener, more progressive companies and help them to grow.  Work with your colleagues and peers to bring attention to your current workplace.  Never give up — it’s too important.

Lindsey: Tell us about  your new program to help female professionals near New York City get ahead in their careers.

Shari: In order to provide women with the platform to become business leaders at their workplaces, New York Women Social Entrepreneurs (NYWSE) is launching its Emerging Sustainability Leaders (ESL) program.

As a longtime corporate sustainability professional and author of Climb the Green Ladder: Make Your Company and Career More Sustainable (Wiley), I founded the ESL program to work with women professionals in developing a business case for implementing sustainable initiatives at their workplaces. The training program will address best practices and lessons learned as well as provide an opportunity for each participant to present her business case before a panel of experts. The [triple-]bottom line: A group of well-prepared, innovative women ready to take the lead and change the way their companies do business, improving financial, social, and environmental results.

The program, which is designed for female professionals, will begin in January 2010 and take place in New York City.  For more information on the NYWSE ESL program, please see: www.bit.ly/nywse-esl.

This post originally appeared on the Lindsey Pollak Career Blog.

TAGS: career advice, environment