Whether you are new on the job, feeling pressure to perform, finding yourself messing up more than usual, or you're just not on your "A" game, confidence can take a nose dive. Your boss may be questioning your abilities, co-workers seem to be thriving while you're floundering, and you just can't get it together. It's no wonder your faith in yourself isn't as stellar as it ought to be.
But you can't wait for others to build you up, nor will there be some magical moment when suddenly your ego explodes. You need to boost your own confidence, get back your "mojo" (or get your first taste of some), and show yourself and those you work with that you've got what it takes to succeed.
Put Forth Your Best Self
Your inner strength is what will push you through hard times and hurdles, but if you look good, you'll feel good. And that will give you the courage and sureness to shine. This isn't about beauty or showing off; it's an outward reflection of what type of person you are, what you seek to achieve, and how you choose to present yourself.
As per The Muse, "Dressing well, having good posture, being friendly, and making eye contact with people will all give the impression that you're confident and in control. And when the rest of the world thinks you're self-assured, you'll start believing it, too."
Inc. adds, "How you move around in the office can determine your mood. Add a little zing and energy, and you can gain more confidence when people notice you have the pep. Confidence is reflected."
Put your best foot forward and "best" is the direction you'll go!
Change Your Mindset
Negative self-talk and debilitating doubt will stall you on your journey towards reaching the top. Confidence starts from within, so berating yourself will only keep you down. Remind yourself daily that you are a hard worker, a smart person, and someone who has it inside themselves to reach any goal set forth.
Huffington Post suggests investing in your mind. "Focus on speaking positive affirmations to yourself daily, meditate on the right things, keep upgrading your inspiration and motivational content and ensure that your mind is consistently fixed on the right things."
As Entrepreneur puts it, "Fake it 'till you make it. You are more competent than you know. So, act like you know it all!"
One way to do this is to "trumpet your own success," as per Inc. For instance, "You can build your own confidence by pointing out, in a matter-of-fact way, that you were the one who accomplished something for the company. It makes you more confident because you get into the habit of self-rewards and self-acknowledgement."
It's not gloating when it's genuine.
Don't Be Afraid to Ask Questions
Ask and you shall receive… and eventually, you shall achieve! If you don't quite grasp a concept brought up in a meeting or need clarification on an email or presentation, ask! Staying silent and in a state of confusion will only dampen your confidence. When you are in-the-know and well-educated, you will perform at your best.
As The Muse notes, "Remember that (no matter what stage you're at in your career) you're never going to have all the answers. So, don't be shy about asking questions, especially when you're feeling uncertain or insecure. Instead, arm yourself with the information you need to do your job well by asking for it."
Asking questions will not only help you grow, but will show that you are invested in the company and care about making a difference. Hooking up with a mentor is another smart strategy to get ahead and help you feel more confident in your abilities. And when you get to a point of achievement, pay it forward.
Confidence starts now! Boost your way to a breakthrough!
When you take out a loan for a car, charge something to your credit card, or get a personal line of credit, there is going to be an interest rate that applies to your loan.
A lot of different factors go into what you will be charged, including your own personal credit score. But even those with flawless credit still see a minimum charge that they can't get around. That all goes back to the Federal Funds Rate.
One thing consumers rarely realize is that all of our banks are lending money to each other every night. Banks are legally required to maintain a certain percentage of their deposits in non-interest-bearing accounts at the Federal Reserve to ensure they have enough money to cover any withdrawals that may unexpectedly come up. However, deposits can fluctuate and it's very common for some banks to exceed the requirement on certain days while some fall short. In cases like this, banks actually lend each other money to ensure they meet the minimum balance. It's a bit hard to imagine these multibillion-dollar financial institutions needing to borrow money to tide them over for a bit, but it happens every single night at the Federal Reserve. It's also a nice deal for those with balances above the reserve balance requirement to earn a bit of money with cash that would normally just be sitting there.
The Federal Reserve
The exact interest rate the banks will charge each other is a matter of negotiation between them, but the Federal Open Market Committee (FOMC) (the arm of the Federal Reserve that sets monetary policy) meets eight times a year to set a target rate. They evaluate a multitude of economic indicators including unemployment, inflation, and consumer confidence to decide the best rate to keep the country in business. The weighted average of all interest rates across these interbank loans is the effective federal funds rate.
This rate has a huge impact on the economy overall as well as your personal finances. The federal funds rate is essentially the cheapest money available to a bank and that feeds into all of the other loans they make. Banks will add a slight upcharge to the rate set by the Fed to determine what is the lowest interest that they will announce for their most creditworthy customers, also known as the prime rate. If you have a variable interest rate loan (very common with credit cards and some student loans), it's likely that the interest rate you pay is a set percentage on top of that prime rate that your lender is paying. That's why in times of low interest rates (it was set at 0% during the Great Recession), a lot of borrowers should go for fixed interest rate loans that won't increase. However, if the federal funds rate was relatively high (it went up to 20% in the early 1980's), a variable interest rate loan may be a better decision as you would be charged less interest should the rate drop without the need to refinance.
The federal funds rate also has a major impact on your investment portfolio. The stock market reacts very strongly to any changes in interest rates from the Federal Reserve, as a lower rate makes it cheaper for companies to borrow and reinvest while a higher rate may restrict capital and slow short-term growth. If you have a significant portion of your investments in equities, a small change in the federal funds rate can have a large impact on your net worth.
Whether you're leaving a job involuntarily, departing for something new, or just want to prepare for the unknown, it is smart to understand all your options regarding your 401k.
Frugal gifting often gets a bad reputation. However, this shopping method does not make you cheap — it makes you practical. Frugal gifts often avoid waste and overspending and can be just as meaningful (if not more so) as any other present.
With the National Retail Federation predicting each consumer this holiday season to spend upwards of $1,000 on holiday gifts amidst an economic recession —this year might be the perfect time to reconsider your spending budget. We've formulated the ultimate list of frugal gift-giving ideas to get you started.