There's always room for improvement, and even a person who feels they are successful already can strive to reach even higher places. The sky's the limit, right? With our A-Z guide to success at work, becoming your best self can be achieved by going the extra mile, pushing yourself towards new goals, and being as productive as possible while learning, growing, and teaching others to stand out as well.
After the A, B, and Cs – Ambition, Boldness, and Commitment, another round of success-makers will help those on the way to reaching the pinnacle of progress to prosper and profit from making wise choices, taking proactive steps, and sticking it out even when things take a left turn. Oh, and they will!
No matter the field, attention and care to detail is imperative. It could be the difference between a true success and a major blunder. One calculation off, a missed meeting, an unfortunate "reply-all," or neglecting to place a re-order may seem inconsequential, but carelessness and avoidable mistakes are not to be taken lightly as they can have dire consequences. Sometimes the line is paper-thin.
As per Forbes, "Detail-oriented employees take pride in their work. They dot the 'i's', cross the 't's' and get the job done. Attention to detail is crucial or mistakes will be made within your company."
One who is detail-oriented has a greater chance to achieve success thanks to its benefits as noted by Quora. A detail-oriented person has, "high standards, high efficiency, and a polished result." Three obvious winners.
The person with no "oomph" in their attitude when it comes to work won't have the ambition or drive to strive for success. Energy, spirit, and passion will fuel the fire behind a person who wants to achieve rather than float through the day without eagerness or even interest, for that matter.
According to Embrace Possibility, "A sure sign of someone extraordinary is the enthusiasm they have about their passion and their life. They wake up in the morning excited about their day because they know it is going to bring them one step closer to achieving their dream. Successful people tend to be leaders because others are attracted to their enthusiasm."
If you're not enthusiastic about your job, perhaps it's time to rethink your goals. Pursue your passion and success will be at the end of the path. Doing something you love is a successful move in itself.
Change is inevitable and even the best-laid plans will have curves and kinks in the road. The flexible person will be able to take on such challenges, leading to success thanks to thinking on one's feet, going with the flow, and being creative and innovative in the process.
Embrace Possibility notes, "Most successful people became successful doing something different from what they initially intended to do. Successful people know that if their reasons for doing what they are doing changes, there is no point to continue."
America's Job Exchange explains why being flexible is a positive trait in the workplace. "Recognizing and embracing flexibility will help you adapt to difficult situations more easily. And being flexible signals that you value diversity in the workplace. Plus, it drives everyone to find solutions that work for all those involved."
Success may not come as easy as 1, 2, 3, but work through A-Z you'll get there with perseverance! Read more with G, H, and I.
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.