I have a friend that always gives himself 100% on his performance evaluation? Why?
Does he think he is perfect? Well, yes, he does.
Also, there is a financial motivation to that as well.
I remember feeling sweaty and nervous about performance appraisals and I actually looked for what I did wrong during the year. I actually helped my supervisor find what was wrong with me!!!! Your performance evaluation is one of the keys to your wealth. Making sure that you get a good performance appraisal by giving yourself high ratings is a critical tool to increase savings.
So I allowed my nerves to hold back my ability to earn more. I did not profit from my job evaluation. I don’t want you to make the same mistake. In this 21 day challenge to increase your savings and decrease your debt, we have looked at so many strategies to help you multiply your money, and here are even more!!!
http://https://www.youtube.com/watch?v=dqVMZ4dwRag
INCREASE YOUR SAVINGS
🎯Tip #1 – Your pay increase is usually tied to your performance evaluation. And usually, your supervisor takes the cue from your self-assessment to do their own assessment of you because they are generally very busy.
So that is the tip today to increase your savings.
Rate yourself.
HIGHLY.
In the journey to know your worth, you need to be ready to share your accomplishments. Don’t allow imposter syndrome to get in the way of your money. Imposter syndrome is the experience of feeling like a phony—you feel as though at any moment you are going to be found out as a fraud—like you don’t belong where you are, and you only got there through dumb luck. It can affect anyone no matter their social status, work background, skill level, or degree of expertise.
🎯Tip #2 – And keep a track of your professional progress so that you can build your confidence as you step out in the world to ask for more money.
Do you have a portfolio of your certificates, awards, and work examples to present for the next opportunity?
Is it time to put everything together on a website or Google Drive to showcase?
🎯Tip #3 – Again, as you progress to building your money muscle, you need to create a money map that will guide you into the lifestyle you desire.
REDUCE YOUR DEBT
Next, we want to reduce your debt. A strategy that many persons employ is to use one set of borrowed money to cover the previous set of borrowed money. And if they are desperate enough, they don’t care about the cost of the money. Yet, you should.
🎯Tip #4 in this 21-day challenge is interest rate arbitrage as one of the keys to winning the debt game.
What is Credit Card Arbitrage?
According to Investopedia.com, credit card arbitrage refers to the process of borrowing money from a credit card at a low interest rate and then investing that money at a higher interest rate to try to make a profit. The lowest risk and most common type of credit card arbitrage entail taking advantage of a zero percent introductory annual percentage rate balance transfer offer to borrow thousands of dollars from a credit card for the duration of the introductory period, which is often 12 or 15 months.
And so in this challenge, we want you to:
Know your worth.
Release imposter syndrome.
And get a lower interest rate on your current debt!
We invite you to complete the entire 21-day challenge and increase your savings and reduce your debt!!!
