Going to work every day to face an unpleasant or unjustifiably harsh boss or coworker can make even a job you love distressing. There's often no clear or simple way out of a situation like this, but with some helpful tips you'll be able to face the problem with confidence and move steadily toward a solution. Learn how to handle a tough boss or coworker and begin to like your job again.
Dealing with a Difficult Boss
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The first step towards a solution is to examine your boss's perspective. Put yourself in their position and see if you can feel the reasons they behave the way they do. It's extremely difficult to do this if you feel like the victim of unfair treatment, but it might help you find the best path toward fixing the problem.
If your boss stresses you out daily about each small task, confronting them about the habit probably won't stop their micromanaging. The best defense against this behavior might simply be to accomplish the tasks you know they'll expect you to do before they ask. Consistent self-management is a good way to demonstrate that you don't need constant supervision from others.
Every solution begins with communication. This doesn't mean directly addressing the problem every time you talk to your boss. Instead, it means nurturing the relationship between worker and manager and hoping that this naturally calms the tension and more closely aligns the goals and expectations of both parties.
If there's simply no way forward and your life at work and at home is suffering because of the stress, it might be necessary to try to transfer to a different team, department, branch or—if the situation is irreparable—company.
Handling a Difficult Coworker
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Workplace relationships between coworkers are even more important than those with bosses. Unfortunately, not every situation is ideal. You might have trouble focusing on your work when you're surrounded by talkative, distracting partners. Or, you might feel like you can't break through with a coworker to form a real friendship.
Dealing with negative effects on your work is difficult and delicate. Like handling a tough boss, addressing problems with a coworker starts with consideration and communication. Standing in their shoes, can you see a reason for their actions? Is there anything you can do to help them that would stem the cause of the problems? Is the situation mild enough that meeting about it and discussing your feelings with the other person would help?
If a coworker's negativity is bringing you down, it's probably best to spend time in another circle of employees or another area of the building. If an employee is overly competitive and uses rudeness or insults to hamper your work, it's important to keep the focus of meetings and presentations on the success of the company and away from personal success. Their selfishness will stand out unattractively next to your teamwork.
A serious problem at work is a colleague who bullies. This is an issue that requires courage and patience to address. Always stand up for yourself but don't fall for bait or lose your temper: calmness and firmness on your part will win this confrontation. However, there are many, many battles in the long war against bullies and constantly spending energy on it will take away from your work. At this point, it's best to take the problem calmly to a superior. HR departments and administrators are trained to deal with this type of problem, so don't be afraid to ask for their help. After all, your happiness at work will only benefit the team and the whole company.
Working in a healthy environment sometimes means having difficult conversations about difficult relationships with bosses and coworkers. These moments are important because you worked hard to earn the position you have and you don't deserve to have it ruined by rude or inconsiderate people. Plus, mending these relationships could make the job even better in the future. Have confidence, use your patience, and act firmly to make your workplace a comfortable, productive space that you'll enjoy going to every day.
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.