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<!--Generated by Squarespace Site Server v5.11.81 (http://www.squarespace.com/) on Sat, 04 Feb 2012 23:51:40 GMT--><feed xmlns="http://www.w3.org/2005/Atom" xmlns:dc="http://purl.org/dc/elements/1.1/"><title>Blog</title><subtitle>Blog</subtitle><id>http://skoach.com/blog/</id><link rel="alternate" type="application/xhtml+xml" href="http://skoach.com/blog/"/><link rel="self" type="application/atom+xml" href="http://skoach.com/blog/atom.xml"/><updated>2011-12-19T23:35:33Z</updated><generator uri="http://www.squarespace.com/" version="Squarespace Site Server v5.11.81 (http://www.squarespace.com/)">Squarespace</generator><entry><title>Take Green Breaks</title><id>http://skoach.com/blog/take-green-breaks.html</id><link rel="alternate" type="text/html" href="http://skoach.com/blog/take-green-breaks.html"/><author><name>Kathleen Nadeau, Ph.D.</name></author><published>2010-07-04T22:26:27Z</published><updated>2010-07-04T22:26:27Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><span class="full-image-float-left ssNonEditable"><span><img src="http://skoach.com/storage/Kathleen_Border.png?__SQUARESPACE_CACHEVERSION=1278282748379" alt="" /></span></span><strong>Take &ldquo;Green Breaks&rdquo; to Increase Task Completion</strong></p>
<p>Good time management involves not only focusing on tasks, but also scheduling breaks. Taking breaks to refresh your energy and concentration is an effective way to increase your chances of completing your task.</p>
<p>However, your &ldquo;fifteen-minute break&rdquo; may stretch far beyond its allotted time, and you may become distracted by another activity, never returning to your original task. &ldquo;I&rsquo;ll sit down to review my finances, need a break, stand up, walk away, and next thing I know, I am doing laundry!&rdquo; says Phyllis.</p>
<p><span class="full-image-float-right ssNonEditable"><span><img src="http://skoach.com/storage/Greenery.png?__SQUARESPACE_CACHEVERSION=1278284735344" alt="" /></span></span>Try taking green breaks instead. A green break is a way of refreshing the brain that is brief but effective. It can be done as often as needed but won&rsquo;t take you far from your task.</p>
<p><strong>To take a green break:</strong></p>
<ol>
<li> Stand up facing something green. (A tree, a lawn, a leafy plant on a deck, or even a poster of a green pasture will do.)</li>
<li>Focus on the greenery.</li>
<li>Breathe in slowly. Feel your chest rise.</li>
<li>Exhale slowly. Let the air escape fully.</li>
<li>Breathe in again, this time bringing your arms up over your head, then lower them as you breathe out.</li>
<li>Now, drink a glass of water.</li>
<li>Finally, rock slowly from side to side.</li>
<li>Begin working again</li>
</ol>
<p>The color green, especially in nature, is calming. Rocking and raising your arms is relaxing, the water replenishes you, and the increased oxygen from deep breathing will make you more alert. A green break refreshes you, allowing you to benefit from a break without becoming distracted by other things.</p>]]></content></entry><entry><title>5 Guidelines for Reducing Paper Clutter</title><id>http://skoach.com/blog/5-guidelines-for-reducing-paper-clutter.html</id><link rel="alternate" type="text/html" href="http://skoach.com/blog/5-guidelines-for-reducing-paper-clutter.html"/><author><name>Kathleen Nadeau, Ph.D.</name></author><published>2010-06-02T02:29:59Z</published><updated>2010-06-02T02:29:59Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><em><span class="full-image-float-left ssNonEditable"><span><img src="http://skoach.com/storage/Kathleen_Border.png?__SQUARESPACE_CACHEVERSION=1275447070120" alt="" /></span></span></em></p>
<p><em>Use the following guidelines to reduce the amount of papers you gather</em>.</p>
<p><em><strong>Gathering Guideline Questions</strong></em></p>
<p><strong>1.&nbsp; Am I still interested in knowing/doing/having this?</strong> (Elliot was once keenly interested in martini bars, but this interest has waned since he married.)</p>
<p><strong>2.&nbsp; Do I know/understand this already? </strong>(Elliot is now a pro at using social media. He no longer needs a magazine article for beginners.)</p>
<p><strong><span class="full-image-float-right ssNonEditable"><span><img src="http://skoach.com/storage/trash.png?__SQUARESPACE_CACHEVERSION=1275446463676" alt="" /></span></span></strong></p>
<p><strong>3.&nbsp; Is a better/fresher version of this likely to come into my life soon?</strong> (Elliot is tempted to keep an article on hot mutual funds, but did you know that financial information becomes obsolete eight minutes after it comes off the press?!)<br /> <strong>&nbsp;</strong></p>
<p><strong>4.&nbsp; If I will use/read/do/share this, will I do it before it goes out of date?</strong> (Elliot plans to buy an SUV in a year or two, but the information he has will be out of date by then. It will make more sense for him to gather SUV information when he&rsquo;s close to the purchase date.)<br /><strong></strong></p>
<p><strong>5.&nbsp; Can I deal with any regret I might have if I throw it away?</strong> (Elliot knows that even if he makes a mistake and throws something away that he should not have discarded, he might regret it, but he&rsquo;ll get over it.)</p>
<ol> </ol>
<p>If you find these guidelines to be helpful, you may want to laminate a printed list of guidelines and post it in a visible spot in your office, where you open mail, or other places where you tend to gather papers and recycle them.</p>]]></content></entry><entry><title>8 Principles for Successful Negotiation</title><id>http://skoach.com/blog/8-principles-for-successful-negotiation.html</id><link rel="alternate" type="text/html" href="http://skoach.com/blog/8-principles-for-successful-negotiation.html"/><author><name>Kathleen Nadeau, Ph.D.</name></author><published>2010-05-18T01:43:32Z</published><updated>2010-05-18T01:43:32Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><span class="full-image-float-left ssNonEditable"><span><img src="http://skoach.com/storage/Kathleen_Nadeau_small.png?__SQUARESPACE_CACHEVERSION=1274147505109" alt="" /></span></span></p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>When you negotiate, you buy yourself valuable time to complete your work. You need not call it a &ldquo;negotiation,&rdquo; but whenever you set up a compromise, you are negotiating. The following are eight principles for negotiation:</p>
<p>&nbsp;</p>
<ol>
<li>Always begin with a position that you expect compromise.</li>
<li>Never start where you hope to end &ndash; then there&rsquo;s no room for negotiation.</li>
<li>Make the assumption that the other party expects to compromise too.<span class="full-image-float-right ssNonEditable"><span><img src="http://skoach.com/storage/Hand_Shake.png?__SQUARESPACE_CACHEVERSION=1274147610051" alt="" /></span></span></li>
<li>Expect to meet somewhere between your starting point and theirs, although not always in the middle.</li>
<li>Look for ways to meet their needs without overly compromising yours.</li>
<li> Try to avoid expressing anger or antagonizing the other party.</li>
<li>Let them know that you appreciate their situation, and communicate your position in a way that will elicit understanding.</li>
<li>&nbsp;Look for ways to reframe the situation from win-lose to win-win.</li>
</ol>
<p>Naturally, negotiations depend on the power and authority hierarchy of your business. In some cases, you won&rsquo;t be able to negotiate with your boss.</p>
<p>&nbsp;</p>]]></content></entry><entry><title>10 Steps to Successful Habit Building</title><id>http://skoach.com/blog/10-steps-to-successful-habit-building.html</id><link rel="alternate" type="text/html" href="http://skoach.com/blog/10-steps-to-successful-habit-building.html"/><author><name>Kathleen Nadeau, Ph.D.</name></author><published>2010-05-05T02:29:22Z</published><updated>2010-05-05T02:29:22Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><span class="full-image-float-left ssNonEditable"><span><img src="http://skoach.com/storage/Kathleen_Nadeau_small.png?__SQUARESPACE_CACHEVERSION=1273026912180" alt="" width="114" height="156" /></span></span>Habit building is a powerful way to introduce structure into organizing &ndash; especially maintenance organizing.&nbsp; Maintenance organizing is the type of organizing that we all need to do on a regular, routine basis in order to maintain organization once it has been established. A professional organizer may help you work wonders in your environment. But without maintenance organizing, your new orderly environment will rapidly devolve into chaos again. That&rsquo;s because old habits remain firmly engrained.</p>
<p>New habits take time. Don&rsquo;t be discouraged if you&rsquo;re not successful at first. Following are ten steps for successful habit building.</p>
<p>&nbsp;</p>
<ol>
<li> <strong>Tie a new habit to an old one</strong>.&nbsp; Most of us have some ingrained habits.&nbsp; It&rsquo;s easiest to develop a new one if it&rsquo;s tied to an old one. For example, place your vitamins next to your tooth brush to better remember to take your vitamins each morning.</li>
<li> <span class="full-image-float-right ssNonEditable"><span><img src="http://skoach.com/storage/post_it2.png?__SQUARESPACE_CACHEVERSION=1273027403079" alt="" /></span></span><strong>Make the habit as easy as possible</strong>. For example, pick a convenient, visible place to put your keys, a place that makes sense- such as by the door you leave the house from.</li>
<li> <strong>Make the habit hard to ignore</strong>. Put bells on it, put it in a place where you&rsquo;ll trip over it, make it impossible to leave the house without it (tie the car keys to it).</li>
<li> <strong>Put reminders everywhere</strong>. When you are first starting out, put sticky notes where you are sure to see them that remind you to act on your new habit.</li>
<li> <strong>Visualize yourself doing the new behavior</strong>. For example, if this is a morning habit, imagine yourself going through your morning routine, including your new habit at the appropriate point in the routine.</li>
<li> <strong>Practice &ldquo;instant corrections.&rdquo;</strong> If you forget to practice the new habit, go and do it the instant you remember it, if at all possible, even if it&rsquo;s not convenient.</li>
<li> <strong>Get back on the horse and ride</strong>. Habits take time; forgetting is not failure. It is part of developing a habit.</li>
<li> <strong>Problem-solve if it&rsquo;s not working</strong>. Maybe you need a different reminder. &nbsp; Perhaps you need to tie it to a different habit. Perhaps it would fit better into a different time of day.</li>
<li> <strong>Practice the habit for at least thirty days in a row</strong>. Make a calendar in the kitchen and check off the days.</li>
<li> <strong>Reward yourself</strong>.&nbsp; Celebrate when you reach your thirty day goal.</li>
</ol>]]></content></entry><entry><title>10 Time Management Tips</title><id>http://skoach.com/blog/10-time-management-tips.html</id><link rel="alternate" type="text/html" href="http://skoach.com/blog/10-time-management-tips.html"/><author><name>Kathleen Nadeau, Ph.D.</name></author><published>2010-04-11T17:41:47Z</published><updated>2010-04-11T17:41:47Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><span class="full-image-block ssNonEditable"><span><img src="http://skoach.com/storage/Kathleen_Nadeau_small.png?__SQUARESPACE_CACHEVERSION=1271008343075" alt="" /></span></span>Developing time management skills can solve a multitude of problems. Here are 10 tips:</p>
<ol>
<li> Learn to think proactively rather than reactively. Plan your day and follow your plan. Don&rsquo;t let your day run you by reacting moment-to-moment to events, moods, or impulses.</li>
<li> Don&rsquo;t over-schedule your day. Learn to overestimate how long things will take.</li>
<li> Leave time for the unexpected.<span class="full-image-float-right ssNonEditable"><span><img src="http://skoach.com/storage/hourglass.png?__SQUARESPACE_CACHEVERSION=1271008274106" alt="" /></span></span></li>
<li> Keep your calendar/planner with you at all times &ndash; to refer to, to add to, and to revise as you need to throughout your day.</li>
<li> When you make a commitment to do something, don&rsquo;t just add the task to a huge, undifferentiated &ldquo;to do&rdquo; list. Assign an actual time on an actual day to complete that task.</li>
<li> To combat a tendency to lose track of time, set a timer/beeper/reminder to go off five minutes before you need to leave for a scheduled event. Many calendar/planning programs (including Skoach) have built-in reminders.</li>
<li> Develop a habit of saying, &ldquo;I&rsquo;d like to, but let me check my schedule,&rdquo; rather than saying &ldquo;yes&rdquo; to a request without considering your previous commitments.</li>
<li> Avoid last-minute impulses unless they are true emergencies. Squeezing in &ldquo;one last thing&rdquo; before leaving leads to chronic lateness, giving others the unintended message that they are unimportant to you.</li>
<li> Plan to be early. Take a book or something to work on while you wait for an event to begin.</li>
<li> Begin phone calls by setting a time limit. &ldquo;I need to leave for a meeting in ten minutes but wanted to catch you before I left.&rdquo;</li>
</ol>
<p>&nbsp;</p>]]></content></entry><entry><title>4 Tips to Purge the Purse</title><category term="organization"/><id>http://skoach.com/blog/4-tips-to-purge-the-purse.html</id><link rel="alternate" type="text/html" href="http://skoach.com/blog/4-tips-to-purge-the-purse.html"/><author><name>Kathleen Nadeau, Ph.D.</name></author><published>2010-03-08T22:27:06Z</published><updated>2010-03-08T22:27:06Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><strong><span class="full-image-float-left ssNonEditable"><span><img src="http://skoach.com/storage/Kathleen_Nadeau_small.png?__SQUARESPACE_CACHEVERSION=1268093279153" alt="" /></span></span>Tired of digging for misplaced keys or the cell phone? The key to having an organized purse &mdash; and a simpler life &mdash; <em>is in the bag</em>.</strong></p>
<p>If your purse has become a chaotic carryall &mdash; a dark pit where things go to get lost &mdash; I share your plight. The right-sized shoulder bag can bring order to your life. Consider these four tips when shopping for a new hand-bag:</p>
<p>1. <strong>Don&rsquo;t go too small</strong>. &nbsp;<br /> Many women mistakenly think, &ldquo;If I don&rsquo;t have much room, I can&rsquo;t carry too much around with me.&rdquo; Good thinking, up to a point.&nbsp; If you don&rsquo;t have room for all of your essentials, some items will wind up in your pants pocket &mdash; and you&rsquo;ll lose them.<span class="full-image-float-right ssNonEditable"><span><img src="../../storage/purse-blog.png?__SQUARESPACE_CACHEVERSION=1268093335191" alt="" /></span></span></p>
<p>2. <strong>Don&rsquo;t go too large</strong>. &nbsp;<br /> Too many items (old trick-or-treat candy or broken glasses) in a large bag make it tough to find essentials.</p>
<p>3. <strong>Don&rsquo;t go with too many pockets</strong>.&nbsp; <br /> I made this mistake once. &ldquo;Just look at those pockets!&rdquo; I thought. &ldquo;I can use one for my cell phone, one for keys....&rdquo; The problem? I didn&rsquo;t know which items were in which pockets, and I had to hunt for what I was looking for.</p>
<p>4. <strong>Go with one that is &ldquo;just right.&rdquo;</strong> &nbsp; Look for a purse with a cell phone pocket and a handy place to store or attach your keys.&nbsp; It should comfortably accommodate your wallet, make-up bag, and one or two other essential items.&nbsp; That&rsquo;s it.&nbsp; A shoulder strap is good, to free your hands for important things, like steering your child through the toy aisle.</p>
<p>&nbsp;</p>]]></content></entry><entry><title>Never Run Late Again</title><id>http://skoach.com/blog/never-run-late-again.html</id><link rel="alternate" type="text/html" href="http://skoach.com/blog/never-run-late-again.html"/><author><name>Kathleen Nadeau, Ph.D.</name></author><published>2010-02-22T23:52:00Z</published><updated>2010-02-22T23:52:00Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><strong> <span class="full-image-float-left ssNonEditable"><span><img src="http://skoach.com/storage/Kathleen_Nadeau_small.png?__SQUARESPACE_CACHEVERSION=1266883220722" alt="" /></span></span>Time-management strategies -- stay on time and organized.</strong></p>
<p>Toni can feel the knot in her neck as she sits in traffic. She is running late for work (again), and she&rsquo;s heading to a project meeting, for which she is unprepared. Lately, she&rsquo;s been losing patience with the kids more easily, and she seems to have no time to just enjoy being with them. Feeling rushed, like Toni? Here are time-management strategies to slow down and get better organized.<br /> Cure yourself of &ldquo;<em>one-more-thing-itis</em>.&rdquo;</p>
<p>One reason some of us feel rushed is that we habitually try to cram in &ldquo;one more thing,&rdquo; the additional task that so often derails plans.</p>
<p><em>One-more-thing-itis</em> is a form of distractibility &mdash; the phone rings, you answer it, you notice that the table needs to be cleared, or a plant needs to be watered, and, once again, you run late.</p>
<p><em><strong><span class="full-image-float-right ssNonEditable"><span><img src="http://skoach.com/storage/Running_Late.png?__SQUARESPACE_CACHEVERSION=1266883631476" alt="" /></span></span>Strategy</strong></em>:&nbsp; Think through the steps you&rsquo;ll take before you leave the house. Gather belongings and double-check directions, if needed, the night before. Avoid getting sidetracked as you head to the door by reminding yourself, out loud and repeatedly, &ldquo;I&rsquo;m leaving now; I&rsquo;m going to the car.&rdquo;</p>
<p><strong>Plan ahead to arrive early.</strong></p>
<p>Aim to arrive 15 minutes before your appointment time. If the prospect of facing empty time if you do arrive early horrifies you, keep a magazine, book, or stack of bills that need to be paid in a bag near the door, and grab it on the way out.</p>
<p>Calculate your departure time by adding 10 minutes to each half hour of travel time. With the extra time, you&rsquo;ll feel much less rushed, should you run into traffic or another unforeseen delay.</p>
<p><em><strong>Strategy</strong></em>: Set two alarms (a clock, a cell phone, or a computer), one that will go off five minutes before departure time and a second that will sound when it&rsquo;s time to leave. When the first alarm goes off, stop what you are doing. Try to be out the door before the second alarm goes off.</p>
<p><strong>Build routine tasks into your weekly schedule.</strong></p>
<p>When do you feel most stressed &mdash; in the morning, before work or school, or before dinner, when the kids need picking up and dinner needs preparing?</p>
<p>Instead of filling the gas tank or stopping to grab the ingredients for dinner on the fly, map out&mdash;and stick to&mdash;a weekly schedule that accounts for each of these tasks. Lock in times for doing necessary weekly chores, such as grocery shopping and laundry, to prevent running out of milk or clean clothes.</p>
<p><em><strong>Strategy</strong></em>:&nbsp; Shift <em>to-do</em> items into less stressful times. For example, if mornings are more rushed, fill the gas tank on the way home.</p>
<p><br /><strong> Don&rsquo;t say &ldquo;yes&rdquo; out of habit &mdash; or guilt.</strong></p>
<p>Many of us over-commit out of a desire to please our family, friends, or co-workers.</p>
<p><em><strong>Strategy</strong></em>:&nbsp; Get in the habit of saying, &ldquo;I&rsquo;d like to, but let me check my schedule,&rdquo; instead of giving an automatic &ldquo;yes.&rdquo; In the end, you&rsquo;ll please others more by being able to get things done on time, rather than always being late and rushed.</p>
<p><strong>Set realistic goals.</strong></p>
<p>Can you really make a stew and pick up the kids in half an hour? Deliver yourself from trying to be supermom (or dad).</p>
<p><em><strong>Strategy</strong></em>:&nbsp; It&rsquo;s OK to plan a quick-fix meal (or to have take-out!) on busier nights. Don&rsquo;t feel you have to cram in three errands when you have time for only two.</p>
<p><br /><strong> Enlist the help of a time tutor.</strong></p>
<p>Ask a friend or family member, someone who has witnessed how you spend your time, to help you identify the patterns that create time crunches in your life.</p>
<p><em><strong>Strategy</strong></em>:&nbsp; Do only what you can, and delegate or delete what you can&rsquo;t. You&rsquo;ll be happier (and more productive) when you are not living in a constant rush.</p>]]></content></entry><entry><title>Start Saving Now</title><category term="finance"/><category term="saving"/><id>http://skoach.com/blog/start-saving-now.html</id><link rel="alternate" type="text/html" href="http://skoach.com/blog/start-saving-now.html"/><author><name>Kathleen Nadeau, Ph.D.</name></author><published>2010-01-24T15:20:51Z</published><updated>2010-01-24T15:20:51Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p>(Part 3 of a 3 part series on <em>personal finance</em>)&nbsp; <a href="http://skoach.com/blog/adopt-smart-saving-strategies.html"><span style="text-decoration: underline;">Link to Part 2:&nbsp; Adopt Smart Saving Strategies</span></a></p>
<p><span class="full-image-float-left ssNonEditable"><span><img src="http://skoach.com/storage/Kathleen_Nadeau_small.png?__SQUARESPACE_CACHEVERSION=1264461284643" alt="" /></span></span>Put money away while paying off the balance on your <em>zero-percent</em> or <em>low-interest</em> rate credit card.&nbsp; Figure out how much you&rsquo;re saving from using this credit card, refinancing big-ticket bills, and sticking to a budget.&nbsp; Designate this amount for savings.&nbsp; Studies show that people are more likely to save if the money is deposited automatically.&nbsp; Have your bank deposit this amount each week into two savings accounts:</p>
<p style="padding-left: 30px;">1) <strong><span class="full-image-float-right ssNonEditable"><span><img src="http://skoach.com/storage/Save_Money.png?__SQUARESPACE_CACHEVERSION=1264356273461" alt="" /></span></span>An emergency fund, invested in a money market account</strong>. To find the highest-yielding rates, log on to <a href="http://www.bankrate.com/">bankrate.com</a> or <a href="https://www.fidelity.com/">fidelity.com</a>.&nbsp; You will have to fill out an application online, authorizing the money market company to transfer funds from your bank each month.</p>
<p style="padding-left: 30px;">2) <strong>A retirement fund, invested in stocks, bonds, mutual funds, or cash</strong>.&nbsp; Log on to <a href="https://www.fidelity.com/">fidelity.com</a> or <a href="http://vanguard.com/">vanguard.com</a> to explore mutual fund options.&nbsp; If you want to invest in individual stocks and bonds, log on to <a href="https://www.schwab.com/">schwab.com</a> or <a href="http://www.tdameritrade.com/welcome1.html">tdameritrade.com</a> to set up a brokerage account.&nbsp; Again, you&rsquo;ll fill out an application online, and the company will take it from there, making sure that your bank transfers the funds electronically every pay period.&nbsp; Even easier, if your employer has a <em>401(k) plan</em>, talk with your benefits department about having a portion of each paycheck deposited into the plan.&nbsp; Many employers will match your savings (up to a certain percentage).</p>
<p><strong>Remember</strong>: Don&rsquo;t tell yourself that saving just a little won&rsquo;t make a difference.&nbsp; You&rsquo;re developing a habit &ndash; the longer you save something each month, the more likely you will be to continue doing it.&nbsp; Increase your contributions to these accounts as you pay down your credit card debt and curb your spending habits.</p>
<p>Congratulations!&nbsp; You are, finally, building wealth for your future.</p>
<p>&nbsp;</p>
<p>~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~</p>
<p><strong>Play Dough</strong></p>
<p>Just because you&rsquo;re saving doesn&rsquo;t mean you can&rsquo;t occasionally treat yourself.&nbsp; Use this strategy to accumulate what I call &ldquo;mad money.&rdquo;&nbsp;</p>
<ul>
<li> Empty your pockets or change purse every evening into a jar.</li>
<li> Every month, bring your jar to a change-counting machine (the &ldquo;Penny Arcades&rdquo; at TD Bank branches won&rsquo;t deduct a fee; most change machines at supermarkets withhold about 8 percent), and exchange your coins for bills.</li>
<li> Keep your &ldquo;mad money&rdquo; in a separate envelope in your wallet.&nbsp; Just knowing it&rsquo;s there will help you discipline yourself not to &ldquo;leak&rdquo; money on small purchases that add up to big spending over the course of a month.</li>
<li> Every once in a while, use your mad money to reward yourself for your new self-discipline.</li>
</ul>
<div>
<p><strong>&nbsp;</strong></p>
</div>]]></content></entry><entry><title>Adopt Smart Saving Strategies</title><category term="finance"/><category term="money"/><category term="saving"/><id>http://skoach.com/blog/adopt-smart-saving-strategies.html</id><link rel="alternate" type="text/html" href="http://skoach.com/blog/adopt-smart-saving-strategies.html"/><author><name>Kathleen Nadeau, Ph.D.</name></author><published>2010-01-19T00:35:10Z</published><updated>2010-01-19T00:35:10Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p>(Part 2 of a 3 part series on <em>getting your finances in order</em>) Link to Part 1: <a href="http://skoach.com/blog/5-ways-to-get-out-of-debt.html"><em>5 Ways To Get Out of Debit</em></a></p>
<h3><strong><span class="full-image-float-left ssNonEditable"><span><img src="http://skoach.com/storage/Kathleen_Nadeau_small.png?__SQUARESPACE_CACHEVERSION=1264461352469" alt="" /></span></span>Lower your big monthly bills</strong></h3>
<p>Consider refinancing your mortgage and car loans &ndash; typically, the biggest bills a family pays each month &ndash; at lower interest rates. This will increase the amount of money you&rsquo;ll be able to save.</p>
<p><span class="full-image-float-right ssNonEditable"><span><img src="http://skoach.com/storage/saving.png?__SQUARESPACE_CACHEVERSION=1263862474054" alt="" /></span></span>1)&nbsp; <strong>As you gradually pay off your consumer debt, your credit score will rise</strong>. This will make you eligible for lower interest rates on your mortgage. (Check your credit score at no cost through <a href="https://www.annualcreditreport.com">annualcreditreport.com</a>.) Talk with your mortgage broker regularly to see whether interest rates have declined.&nbsp; Or search for lower rates online. <a href="http://www.bankrate.com/">Bankrate.com</a> updates mortgage rates weekly based on data from banks across the country.</p>
<p>2)&nbsp; <strong>Pay off your car loan with a home equity line of credit</strong>. Typically, home equity loans carry lower interest rates than car loans. The interest you pay each month is tax deductible. Search for the lowest rates at <a href="http://www.bankrate.com/">bankrate.com</a> and <a href="http://interest.com/">interest.com</a>.</p>
<h3><strong>Spend Less</strong></h3>
<p>After digging yourself out of debt, here are strategies that will keep you in the black.</p>
<p>1)&nbsp; <strong>Don&rsquo;t place yourself in situations where you&rsquo;re likely to make impulse purchases </strong>&ndash; for example, don&rsquo;t wander through Borders on your lunch hour if you can&rsquo;t resist magazines or CDs.&nbsp; If you receive a lot of catalogs at home, cancel them through <a href="http://www.catalogchoice.org/">catalogchoice.org</a>.</p>
<p>2)&nbsp; <strong>Don&rsquo;t shop recreationally</strong>.&nbsp; Instead of &ldquo;going to the mall&rdquo; for fun, make a list of the items that you need, and go only to the stores where you can find a good price on them.&nbsp; If window-shopping tempts you to spend, don&rsquo;t go to movie theaters or restaurants in shopping malls.</p>
<p>3)&nbsp; <strong>Don&rsquo;t shop online</strong>.&nbsp; Make it more difficult to log on to shopping sites by not bookmarking them.&nbsp; Think of the Internet as a source of information, not a source of shopping entertainment!</p>
<p>4)&nbsp; <strong>Put yourself on a spending allowance</strong>. Calculate the amount that you can afford to spend each week on discretionary expenses, such as buying lunch, clothing, books, music, coffee, dinners out, movies, and so on.&nbsp; Go to the ATM on Friday; withdraw that amount, and don&rsquo;t take out any more cash (<em>or use a charge card</em>!) during the week.&nbsp; If you spend your money over the weekend, pack your lunches, and don&rsquo;t go out to eat or shop until the following Friday.</p>
<p>5)&nbsp; <strong>Turn frugality into a game</strong>.&nbsp; See how much you can save by bringing lunch from home.&nbsp; Form a thrift group at your church to share coupons and inexpensive recipes and to exchange ideas about free activities in your community.&nbsp; Substitute a healthy activity &ndash; like a swim or walk &ndash; for a shopping spree.</p>
<p>(The next part &ndash; &ldquo;<em>Start Saving Now</em>&rdquo; &ndash; will be posted next week)</p>]]></content></entry><entry><title>5 Ways to Get Out of Debt</title><category term="debit"/><category term="finance"/><id>http://skoach.com/blog/5-ways-to-get-out-of-debt.html</id><link rel="alternate" type="text/html" href="http://skoach.com/blog/5-ways-to-get-out-of-debt.html"/><author><name>Kathleen Nadeau, Ph.D.</name></author><published>2010-01-11T03:16:10Z</published><updated>2010-01-11T03:16:10Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p>(Part 1 of a 3-part series on <em>getting your finances in order</em>)</p>
<p><span class="full-image-float-left ssNonEditable"><span><img src="http://skoach.com/storage/Kathleen_Nadeau_small.png?__SQUARESPACE_CACHEVERSION=1264461387115" alt="" /></span></span>&ldquo;Saving money? You&rsquo;ve got to be kidding!&nbsp; I&rsquo;d be doing well to keep up with my bills, never mind having anything let over to put away.&rdquo;&nbsp; I hear this refrain from many clients when I suggest they need to think about saving for their child&rsquo;s college tuition, their own retirement, or an emergency, like a transmission for the car or a new roof for the house.<span class="full-image-float-right ssNonEditable"><span><img src="http://skoach.com/storage/debit.png?__SQUARESPACE_CACHEVERSION=1263180847246" alt="" /></span></span></p>
<p>Most U.S. households have trouble putting money away &ndash; statistics show that Americans, on average, save only 1 to 2 percent of their family income.&nbsp; It can be difficult to resists impulse buys (&ldquo;I&rsquo;ve got to have that new cell phone&rdquo;); to recall what you&rsquo;ve spent (&ldquo;I forgot about the fall clothing expenses when I decided to buy that new flat screen&rdquo;); to plan and shop with an eye toward saving (&ldquo;I&rsquo;m lucky to get all my groceries for the week, much less worry about how much I might save on bananas or toilet paper&rdquo;).</p>
<p>Your ability to save is, of course, tied to how deeply you&rsquo;re in debt.&nbsp; So before I set you up with a successful savings program, here&rsquo;s a plan to get you out of debt and spend less.</p>
<p><strong>First, Get Out of Debt</strong></p>
<p>Your first goal is to live within your means &ndash; no more purchases on charge cards &ndash; while you pay off your consumer debt.</p>
<ol>
<li>
<p><strong>Transfer your consumer debt to zero-percent or low-interest credit cards.</strong> The lower the interest rate, the less you will pay each month. Typically, such offers are sent to customers with good credit, but you can also find them online. (Compare offers on creditcards.com and bankrate.com.) Credit card companies usually extend the offer for only 12 months, and charge a 3-percent transfer fee for switching balances from other cards. The best offers require no transfer fee, but these are rare. If you haven&rsquo;t paid off your debt before the offer expires, you&rsquo;ll have to transfer the leftover balance to a new zero-percent of low-interest rate credit card.</p>
</li>
<li>
<p><strong>Set up automatic monthly payments through online banking.</strong> This will ensure that your zero-percent or low-interest credit card payment is never late. You don&rsquo;t want to lose this great rate. Log onto your bank&rsquo;s website, open an account, and sign up for online bill paying. Then create monthly payments for other bills you can start paying automatically. These bills should include predictable charges, such as a mortgage payment, and payments to utility and phone companies.</p>
</li>
<li>
<p><strong>Add up the payments you have been making on your various higher-interest credit cards and pay at least that total </strong>&ndash; preferably more &ndash; each month on your zero-percent credit card.</p>
</li>
<li>
<p><strong>Don&rsquo;t close your paid-off credit card accounts</strong> &ndash; having unused credit raises your credit score The higher your credit score, the lower the interest rate you&rsquo;ll pay on mortgages and car loans in the future.</p>
</li>
<li> <strong>Keep your paid-off credit card in a safe but difficult-to-access place. </strong>You might give your card to a family member. Explain that you&rsquo;ll ask for it only in a case of emergency. Another option is to place the card in your safety deposit box. Or &ndash; if you&rsquo;re an extreme spender &ndash; try freezing the card in a block of ice in your freezer. By the time the ice melts, you will have figured out whether a prospective purchase is something you need or something you just want.</li>
</ol>
<p>(Part 2 &ndash; &ldquo;<em>Adopt Smart Saving Strategies</em>&rdquo; &ndash; will be available next week.)</p>]]></content></entry></feed>
