Budgeting Epiphany Dave Ramsey Says To Budget Monthly

Budgeting Epiphany Dave Ramsey Says To Budget Monthly My wife and I have created various budgets over the 20+ years of our marriage but we havent done much more than just create them. Usually they were created in a time of financial frustration. This last weekend we packed our bags and holed up in a hotel to talk about finances with no distractions. I want to share one epiphany that I had this weekend.   Ive heard Dave Ramsey say you should create a new budget every single month. We never did. We just created a big annual budget, based on past spending, and then kind of divided each line item by 12. For example, we have seven people in our immediate family. We spend about $100 on a birthday. With this annual-budget-logic, wed take that $700 budgeted, divide by 12, and put $58 in each month on the birthday line. The problem with this is that in February we have two birthdays. In March we have none. So the reality of what we should budget in February is $200, not $58. And in March, it should be $0, not $58. Looking at the year, it kind of makes sense. Looking at the month, its all kinds of messed up. So, we put together a February budget (based on our annual budget, but changing things we knew needed changing for just this month). Folks, money is a big deal. In a marriage, money is one of the top five issues. Another top five is communication. This years JibberJobber theme is income streams what you spend is a negative income stream. Lets get serious about it. Im reminded of a guy I met who was unemployed and had been for a while. He had a nice car and a nice house and what looked like a nice life. and told me that his past financial decisions, and how he spent his money, and how he managed his debt, made his transition much less stressful than the average job seeker. It was a beautiful thing to witness. How much fun would your job search be right now if you didnt have the stress that living paycheck to paycheck, and being backwards on your money? Budgeting Epiphany Dave Ramsey Says To Budget Monthly My wife and I have created various budgets over the 20+ years of our marriage but we havent done much more than just create them. Usually they were created in a time of financial frustration. This last weekend we packed our bags and holed up in a hotel to talk about finances with no distractions. I want to share one epiphany that I had this weekend.   Ive heard Dave Ramsey say you should create a new budget every single month. We never did. We just created a big annual budget, based on past spending, and then kind of divided each line item by 12. For example, we have seven people in our immediate family. We spend about $100 on a birthday. With this annual-budget-logic, wed take that $700 budgeted, divide by 12, and put $58 in each month on the birthday line. The problem with this is that in February we have two birthdays. In March we have none. So the reality of what we should budget in February is $200, not $58. And in March, it should be $0, not $58. Looking at the year, it kind of makes sense. Looking at the month, its all kinds of messed up. So, we put together a February budget (based on our annual budget, but changing things we knew needed changing for just this month). Folks, money is a big deal. In a marriage, money is one of the top five issues. Another top five is communication. This years JibberJobber theme is income streams what you spend is a negative income stream. Lets get serious about it. Im reminded of a guy I met who was unemployed and had been for a while. He had a nice car and a nice house and what looked like a nice life. and told me that his past financial decisions, and how he spent his money, and how he managed his debt, made his transition much less stressful than the average job seeker. It was a beautiful thing to witness. How much fun would your job search be right now if you didnt have the stress that living paycheck to paycheck, and being backwards on your money?

The Social Graph Knows Whos Teamable With Your Employees

The Social Graph Knows Whos Teamable With Your Employees Every day we leave online hints of what we do, how we do it, who we do it with, and what we might do next. This is why the technology mapping our social professional lives is more valuable than ever. The social graph is a representation of the interconnection of relationships in an online social network. Its who knows who and how. Its who has common likes, interests, and locations. Its dating based on mutual friends. Its finding new movies and music through the music and movies your friends consume. Its making sense of your connections and their activities. Never has your employee network been more accessible and valuable for recruiting. When you have better information, you can better optimize your decision making process. In the case of employee referral programs, there is so much more relational data available, its crazy. To modernize your employee referral program, let’s examine how the social graph changes the employee referers role, how leadership should commit, and how to leverage data to make sure your next hire is teamable with your existing employees. Dont ask the employee to scour their network, ask the employee for an intro to the right person. You want every employee to help in your recruitment process, but you must understand that 95% of your employees dont have the skills of a recruiter or head of talent acquisition. Yes, recruiting is a motherf*ckin skill. And some of your employees who arent in recruiting are capable of sourcing talent, but most are not fit or not willing to put in the time in order to properly evaluate talents fit for the role and company. When you ask an employee to scour their network, you are asking a financial accountant to evaluate the software engineers ability to code in Node.js. In many fields, such as software engineering, inbound marketing and design, there is enough information available online to know who you want to meet from an employees network. Optimizing the response rate is the top priority. Your brand is at stake. When reaching out to important people, you should be intro-ed by someone he or she already knows. Use tech that makes it easy to prompt employees to send intros in just a few clicks to the talent you want to meet. Increased referral hiring starts with the leadership team. Commitment from your leadership team in your employee referral program is threefold: willingness to ask employees, technology to power program, and compensation bonus. When Salesforce needed more sales hires, CEO Marc Benioff emailed the entire company asking them to open their network to Salesforce opportunities. The result? 60% more referral hires. If the task at hand is difficult to do and not part of an employees KPIs, good luck getting a time commitment. Recruitment too often sits in the someone else will do it category. A technology commitment from the company can lower the amount of time each employee has to spend to positively contribute to the employee referral program. There is great debate as to whether compensation will improve your employee referral programs. It is worth noting that Careerbuilder reports employees are 48% more likely to refer if there is a compensation bonus, a Berkeley study reports the recurring economic benefits of a referral hire far outweigh the one time cost of a referral bonus and if you havent noticed we do live in a capitalist society. Key employee referral data points from social graph. I cant go into everything you can learn from the social graph. But I want to start with very important recruitment questions that the social graph is automating. How many company connections are in common with prospective talent network? This isnt terribly difficult to find out; it cross references social graph connections of the talent and company, and its super useful. You always want talents most relevant existing contact as the first touchpoint. Who in your company has worked on a project with prospective candidate? This is digging deeper into the question of how is each person connected, i.e. each LinkedIn connection is far from equal. Squads that worked together well in the past, have increased odds of working together well on a new project. In my office, when I bring new candidate to the table, Teamable CEO Laura Bilazarian asks, Are they teamable? Its about working well together. Are they interested in changing jobs? The answer to this question could come from market data or talents social media content. For example, in the 6 months to 12 months after a company goes public, many employees often cash out their stock options and move on. Or if a company is struggling, talented employees look for alternatives. On a talent specific level, you can analyze the sentiment of talents social media updates, and measure if they are happy in their current role. Any insight into the willingness to move will save you time in terms of not reaching out to the wrong candidates and helping to close the right candidates faster. Given their top skills and interests, why is your company a better fit for their career development? This one is about empowering the hiring team to entice and close interested talent. By having more knowledge of their aspirations, your recruiting offer can include something far more valuable than money: purpose. If the candidate loves dogs, you know the candidate loves dogs and your company helps match abandoned dogs to good homes, your recruitment discussion is going to go well. At the end of the day, employee referrals are moving from a manual and word of mouth process to one that analyzes a company’s entire social graph, and matches this collective wisdom against open positions. Employee referral technology must make it easy for employees to contribute with a minimal time commitment. Companies that will gain the competitive talent advantage will be the ones that leverage the social graph to build their next team.