How Im saving 65% of my income without a 6-figure salary

How Im saving 65% of my income without a 6-figure salaryHow Im saving 65% of my income without a 6-figure salaryIm not going to lie to you here, this is basically a humble brag deutsche bundespost. Hopefully educational and interesting as well, but lets call this what it is.My goal is not to come off smug, conceited, or that Im better than anyone. Im not. I make financial mistakes all the time still, even though Ive taught myself so much over the years.But my grandiose hope, is that you come away with what is possible, no matter your circumstances. Ive had some advantages that certainly contributed to this point of my financial life, but it welches also a lot of hard damn workFollow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and moreHowever, you can get out of any financial rut, it might be harder for you than it welches for me, or it might be easier. The point is, you can accomplish some amazing results by putting in the effort.Now, lets get into the goods. Below Im sharing what it took to get to saving 65% of income, my next steps, and my ultimate savings goal for the near future.You may have read my story about my path to$100k saved and invested, which this post here is essentially a part of that series. There is probably a bit of overlap too, which was inevitable.No six-figure salaryThe reason I decided to include this in the title is because many of the articles about high saving rates, are people in a six-figure salary rage.There are articles of people that dont make that much too and there are also ones about people who make six-figures and barely save due tolifestyle creep. But the majority I see in major publications have big salaries.And look, making more money and having a higher salary certainly can help you in big ways. More income, equals more potential to save. Generating more income helped me as well, which well get into below.But, I wanted to share my salary ranges for when I started my first full-time career of college to present. (Not giving the exact amounts to keep some form of privacy. My salary could be on the low end, middle or higher end of unterstellung ranges during the timeframes).2010 2014 ($30,000 $36,000 Pre-tax)2014 2017 ($36,000 $46,000 Pre-tax)2017 Present ($46,000 $85,000 Pre-tax)It also wasnt until late Summer and Fall 2014 when I started to take my personal finances seriously and work on build a savings rate andgenerating more income.My salary from 2017 to present has certainly helped, especially since Ive established a financial discipline prior. It pushed me into the 60% range by improving my salary. But even before this salary increase, I got my savings rate up to the 40+% range.How Im saving 65% of my incomeAchieving a savings rate this high is not something that happens overnight and takes some work to achieve. It took me just about five years to get to this percentage, but the time to get here was well worth it when I see the results.Below is how Ive gotten to 65% savings rate and hopefully behauptung tips can help you increase your own. Again, there areno big secretsStart with the basics write it all downWrite every number down when it comes to your finances.Things like your weekly or bi-weekly paychecks, bills, and other expenses. I certainly had an idea of numbers in my mind, but going off the fly like that is not enough to give you the full picture.I wrote everything into a spreadsheet and added everything up. Now I visually could see where all my money is going, what is left, etc.This also helped me catch where I could start make changes or what I could do to get more money back in my pockets.Made expense cutbacks (to an extent)Seeing all the numbers, it made me realize where I was either overspending or wasting money on things that really wasnt important to my quality of life.One area I caught, was that I was clearly overspending on food and going out socializing. Nothing wrong wit h it, but it should be in moderation.I also caught monthly memberships that I wasnt really utilizing much, so I canceled them.Small things like this wont make you rich, but these cutbacks will help you save more. I was happy to have $50-$100 back a month to save instead.Additionally, I made efforts to save on living expenses. Moving out of a one bedroom apartment, to a two bedroom with a friend to split costs for example.Pay off some piece of debtNo doubt, saving money is hard when you also have debt. I had student loan debt, a car loan, and a little bit on my credit card.It was a bit foolish for me to get a brand new car in 2011, when my salary was low, had no real savings, and was living on my own, but its what I did.However, the car loan had the highest interest and was over $320 a month. Getting that back to save each month would be a nice percentage increase and adds up quickly.I started putting a bit extra a month first to get this lower and then in early 2017 I paid off the r emaining balance in one shot. Took a hit in my savings at first, but quickly recovered with my savings rate and now the extra $300+ I get to keep.Ideally, you dont want to carry debt forever. Many people might have chosen to aggressively pay off their debt over saving, but I did both. Iwrote more about that here.Side hustlesI understand not everyone wants to do side hustles, but I found them to be incredible helpful in my financial journey in a few ways.First, making more money which could go towards either expenses or right to savings. And second, they helped boost my professional knowledge. I learned a lot about marketing and websites by starting blogs, consulting, and freelancing when I could.That in turn, was value I could add to my resume to get higher paying jobs and showcase my worth to companies. If you are looking for some side hustle ideas with serious income potential,check out this list.Increase career worthThere is no question that increasing my salary helped me boost m y savings rate.However, making more money is not guarantee youll save well either. You have to have the financial foundation set, as to not fall into the traps of lifestyle creep.During my savings rate strategy, there was a point where I plateaued unless I was making more money.I hit around 40% savings rate, when there was no room left to save (unless magically my student loans went away). While cutting back expenses helped, there is only so much I could save on. But, with making money, there really is no limit.So besides side hustling, I worked to improve my career in marketing. In 2017, I took a remote position with a higher salary, which gave me an extra 25% boost in my savings rate.Keeping the consumer mentality in-checkOur society has a consumer mentality problem, we get obsessed with stuff. I still like the occasional nice thing and feel its important to treat yourself in someway. But, letting it get out of control hurts your savings rates and puts you in debt.I dont think the re are any secrets to managing this other than practicingself-controland keeping your financial goals top of mind. It took a bit to break this habit, but once I did, I never looked backed.Two things that help here, are remove your credit cards from one-click payments on shopping websites and also wait 24-48 hours before making a purchase.By asking myself if its worth it and sleeping on it, 9/10 I realized I didnt need it.Create good financial habits that become the normOnce I got my consumer mentality in-check I continued with good financial habits. Meaning, earning more, spending less, paying myself first, some budgeting, etc.Your old financial habits that are hurting you are not easy to break. But as you start and keep your goals in mind, youll find good habits easier to do. It will get to the point where you dont even think about it anymore, you just naturally do it.I also quickly became addicted to the progredienz I was making with my savings rate. This made me want to keep goin g with what I was doing. At some point, this all became the norm and a daily part of my life.The path to 100% savings rateMy next goal is to get in the 70-75% range and then ultimately, be at 100% savings rate from my salary job.Because I love food and traveling, getting to my next level of 70-75% is quite challenging. But paying off my remaining student debt will free up more capital to save, increasing my job salary again, and making money off Invested Wallet will help get me there.Im not extremely frugal, probably never will be. Im sure if I got more into that, I could easily get the percentage higher. But the effect on quality of life isnt worth it to me.Yes, its okay to enjoy and spend money on yourself??But I have my daily money habits in check and I really shed the consumer mentality, which keeps saving money easier. I think 70% will be the max I can achieve at my current love of income.My goal in the next few yearsBuilding my side hustles and investments up to cover 100% of my monthly expenses, to then be able to save and invest 100% of my income.It wont be easy, but I have no doubt I can do it.This article originally appeared on Invested Wallet.You might also enjoyNew neuroscience reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from Benjamin Franklins daily schedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people

5 Key Presentation Skills To Master

5 Key Presentation Skills To Master5 Key Presentation Skills To Master Ive spent the past five years working for Nielsen , the worlds largest marketing research firm that helps media and consumer products companies understand what people watch and buy. I am currently a manager in our consumer analytics group, specializing in survey and segmentation analysis for large brands and retailers. My kollektivs projects uncover the who, what, where and why behind buying behavior, which enables clients to create products and advertisements that truly resonate with customers. A lot of data is involved in these studies, so Ive had to learn how to balance simplifying findings with providing enough supporting information to make recommendations clear and believable. It can be challenging to make all this information come together in presentation form. Here are five key techniques Ive learned along the way.Whats your starting point? Before you can advise about expanding a product l ine or increasing a products visibility, you need to know where things stand today. Begin with a Google search to learn the basics of a category. What brands do your client and competitors offer? Is your client a premium or value player in this space, or do they offer price points for all consumers? If this is a food-related category, is Organic a thing yet? Doing your research seems like common sense, but youd be surprised by how many people skip over this basic step - and then pay the price later on. Presenting to your fellow colleagues ? The same rules apply.The first question you have to ask yourself when putting together a presentation is What am I trying to achieve? When conducting studies, I have to sift through a lot of information. It can get overwhelming, so I make a point to focus on whats going to answer my clients distinct questions, and I save the rest for another day. Once you know the specific areas youre going to explore, identify which metrics are available to you and go from there. When we run our analyses, we look for information that tells a story that supports our clients goals. And, if we uncover any significant data that could contradict their goals, we make sure we share that information - and any potential solutions - with them as well.You can have the best data in the world - information no one else has - but if you dont know what to do with it, its worthless. So, after identifying key data points, I decide how Im going to share my information. Does it belong in a bar chart? A data table? Should I tell the story through imagery with captions? To avoid overwhelming anyone, I make sure to only show what is absolutely necessary and point to important findings. For example, if my research finds that price is the primary purchase driver for a product, I put this into context by showing how it ranks compared to other purchase drivers. But I make sure to highlight price in a different color, since thats the key point.I get a rush ev ery time a client has an a-ha moment and exclaims, Wow, I didnt know that But even that marker of success doesnt mean my work is done. Its important to continue to read the room for hints on how youre doing. I primarily look at facial expressions and body language . If Im getting a lot of confused looks, or too many people seem distracted, something has clearly gone off track. If my audience appears lost, Ill try repeating a point in simpler terms, or Ill elaborate with more examples. Sometimes merely changing the inflection of my voice gets people to re-direct their gaze to me. If I spot someone squinting hard at the screen, it usually means he or she is trying to figure out a slide rather than listening to me explain it, so I ask if there are any questions. If I see a person with his or her arms folded, it tips me off that he or she doesnt quite believe what Im saying. I acknowledge that and reassert the proof.It may feel silly, but doing a test run in front of someone with indu stry knowledge and someone without it will help you anticipate questions and force you to explain difficult concepts very simply. This is a great way to avoid being caught off guard. While you practice, look out for phrases like I think or I just wanted to that can make you sound less certain and diminish your authority. Use the rehearsal as an opportunity to memorize your slides. It makes you more likely to sound upbeat and engaging - two qualities you will want your audience to associate with you.Whether youre in a client-facing role or making a case for something within your organization internally, these recommendations are bound to help you become a more effective communicator.This article originally appeared on The Well , Jopwells digital magazine. The Well is the digital magazine of Jopwell, the career advancement platform for Black, lateinamerikaner/Hispanic and Native American professionals and students. Subscribe to receive weekly stories and advice in your inbox.

The majority of Americans take a staycation. Heres how to do it right

The majority of Americans take a staycation. Heres how to do it rightThe majority of Americans take a staycation. Heres how to do it rightDuring the summer months, offices empty out as employees seek out well-deserved rest from the drudgery of work. But while some of us may be flying off to exotic locales, the majority of us are not leaving our zip code. Thats whatnew data fromYouGov Omnibus found whenthe research service polled over 10,000 Americans about their summer vacation habits. More than half - 53% - of Americans reported that they had taken a staycation, or chosen to stay in their same city for a vacation.Although a staycation may not sound as luxurious as a getaway, its leise a privilege to take one at all. Forty-one percent of employees said they felt guilty or had been shamed for taking one. Its time for us all to get over this guilt and take vacations however we can because they are a proven benefit to employees and employers. The employees who take time off are the on es who earn the top performance reviews, one study found. Heres how to achieve the rejuvenating effects of a vacation even when you do not leave townLeave your phone behindA staycation begins by disconnecting yourself from work. Delete the Slack app from your phone, create an out-of-office email reminder, and do whatever you can to let your colleagues know that even if you are physically nearby, you are mentally checked out.Stopping yourself from scrolling through your devices can help you, because looking at technology can undo your vacation benefits. When you look at your email on vacation, you are less able to remember what exactly you did on your holiday. The simple act of unplugging can make a big difference in your perspective when you return back to the office. A2012 studyfound that employees who psychologically detach from work are more satisfied with life and return to their jobs more engaged.Go outside into natureEven if you do not leave town, you can still go beyond the f amiliar walls of your home and get a change of scenery. Nature is a proven way for us to get relaxation benefits. It does not take too many trees for natures spell to take effect. A 30-minute walk in the woods has led tolower blood pressure and stress levels in Japan.Do your version of relaxationEach of us has a different definition of what time well spent on vacation means. For some of us, it means exploring new cuisines or catching a theater performance or spending time with our loved ones. In one survey of 1500 U.K. people, one in ten people over 65 said that tasting new foods and drinks was the most enjoyable part of their holiday break. For some of us, we do not even have to leave our couch to achieve a vacation state of mind. Finding me time to watch our favorite movies at home is enough.Take advantage of the fact that a staycation can help you get into relaxation mode sooner. One of the benefits of a staycation is that you do not have to absprache with the stress of faraway t ravel logistics. As my colleague Meredith Lepore, who recently took a staycation of her own, put it Being able to walk to my destination with only one small overnight bag was utterly delightful compared to the hell I put myself through when I overpack.The point of a vacation is to take time off to reflect and enjoy the parts of yourself that are not tied to work. Staycations remind us that we do not need fancy activities and faraway getaways to do this.