Blogs

Placers Presents: Free Budget Advice from an Award Winning Finance Guy

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Placers Marketing associate, Sam Ide recently sat down with Mark Olazagasti, a managing partner with Info Solutions, to discuss commonly asked personal finance questions. Info Solutions is an IT services company that specializes in consulting and cloud-based solutions. Mark also started the nonprofit organization YourMoney101, the goal of which is to educate and advise people on the basics of budgeting and investing for the purpose of helping them build a solid financial foundation. Mark has over 25 years experience with operations, personal, and project management. In June, Mark was awarded Entrepreneurial Advocate of the Year by the New Castle County Chamber of Commerce. Placers invites Mark into our offices each month to help our employees with their own personal finance and budgeting questions. Below, are some of the most common questions Mark receives.

Sam: What are the most common financial mistakes you see people make?

Mark: I’m going to sound like a broken record, but not budgeting is the most common mistake I see people make.  Budgeting is the key to meeting your obligations, creating an emergency fund for life’s unexpected, saving for a purpose (car, house, education, etc.), and saving for retirement.  A close second is not understanding the power of compounding and the time value of money. Often this means being too conservative with your investments when you have time – 20, 30, 40-years until retirement – on your side.  The earlier you start, the more your money works for you over time.

Sam: What is the best piece of financial advice you could give to someone who was just starting out in the workforce?

Mark: Create a budget – this will help you in determining how much you can contribute to your retirement plan.  I know you are thinking “I just started working and have another 40 or so years until I retire – why should I worry about this now?!”  As mentioned previously, the reason to start now is the power of compounding and the time value of money. Start early, and you can finish (retire) early.  Saving for retirement is especially important if your employer matches your contribution, so do what you can to contribute an amount that provides the maximum match because it is “free” money.  If your employer does not have to match, it’s still in your best interest to contribute whatever your budget allows. If your employer does not have a retirement plan, I encourage starting a Roth IRA and invest each month automatically.

Sam: What are some easy tips that anyone can use to help them save money?

Mark: No surprise here – create a budget as it’s your best way to “keep score” of your money.  Then set a goal with a timeframe and do the math. For example, if you want to go on vacation next summer with friends and the cost is $1,000, you will need to save $83 per month over the next 12-months to reach your goal.  Using your budget helps you find and set aside the money and doing the math provides clarity around what you need to do.

Get a handle on your discretionary, out-of-pocket, expenses.  You have income and expenses that you have some degree of control over; however, it’s the discretionary, out-of-pocket spending that generally has the most significant impact, positive or negative, on our ability to make ends meet and save for a purpose.

The best advice I can give is always to ask yourself before making a purchase – “do I really need this?”  If you make the purchase and days later re-ask yourself the same question, and the answer is “no,” but you purchased it anyway, then you should make a pact with yourself to only purchase items after waiting at least one-day.  “I’ll never buy anything on the spot” or “I’ll never buy anything over $X on the spot.” However, don’t make the threshold too high as 4 unnecessary purchases at $20 each makes saving that $83 per month that much more difficult.

Sam: Do you recommend keeping track of all income and expenses through spreadsheets? What would be the best way to implement that?

Mark: Absolutely.  There are apps like Mint (www.mint.com) and YNAB (www.youneedabudget.com), which are quite helpful but require you to provide user IDs and passwords for your various accounts.  So, I use a spreadsheet for my own budgeting and share it with my clients. The spreadsheet has two categories – income and expenses – because I believe simple is better. The more complex or burdensome you make something, the less likely you are to continue doing it.  Most importantly, there is a section to track your discretionary, out-of-pocket, expenses. You will be able to identify the “leaks” in your budget just by reviewing this section each month without having to categorize every single item.

Sam: What are some bad habits (financially) that you see from the current workforce, and how could they be improved?

Mark: Not doing a budget, living beyond one’s means, funding a lifestyle by taking on too much debt, impulse buying, not doing the math when trying to save or pay down debt, insufficient savings for emergencies, procrastinating or being an ostrich (head-in-the-sand), being afraid of the stock market and being too conservative by failing to think long-term with your investments.  Aside from doing the opposite, I recommend reading “The Index Card – Why Personal Finance Doesn’t Have to be Complicated” by Helaine Olen and Harold Pollack. Unbiased, easy read, yet very informative.

Sam: “I want to start budgeting for myself, where do I get started?”

Mark: Email me at molaz@ym101.org, and I will send you the budget template.  Make it your own, and if you need any help, I’m only an email or call (302.743.0504) away.

Placers Presents: 9 Impeccable Tips for Making Temp Jobs Permanent

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When companies, SMEs, and organizations need short-term employees, they’ll employ temp workers- also known as contractual workers, “temps,” consultants or freelancers. While there’s no guarantee of those positions parlaying into permanent ones, it’s not impossible if you play your cards right.

If you’re searching for work, a temp job is probably the best way to start. As a contract employee, you have the opportunity to be on the inside, giving you an added advantage over external candidates when competing for permanent jobs.

American firms hire close to 15 million temporary workers annually. Temp workers may miss benefits such as health insurance, job security, and paid leave. Fortunately, most temp jobs are turning into permanent ones now more than ever. Employers opt to hire this way to “try before buying.”

So, what can a temp do to increase the chances of getting employed full time? 

1.    Join with a great Attitude

Most job seekers who get hired as temporary employees are uncomfortable working in various organizations citing lack of motivation from short-term contracts. However, if you accept a temp job and begin with the right attitude, you appear self-motivated and determined. A manager may consider hiring you whenever there is a job vacancy.

2.    Network within your company

Networking is essential for landing on any job, and also applies if you’re on contract employment. Interact and mingle with key players. If you intend to get a permanent job, interacting with other professionals is paramount. They may recommend you for permanent employment when an opportunity arises.

3.    Explore other areas

Most people opt to stick to their roles when hired as temporary staff. Consider learning about other specialties in your company as it makes it hard for supervisors to let you go. Volunteer to participate in other departments projects even if you don’t get paid. You may get a permanent job offer.

4.    Make your interests known

Some temp workers lack the commitment necessary in a permanent job. If you don’t inform your boss of your interest in long-term engagement, they may assume that you enjoy short-term contracts. Make an effort to meet with your manager and ask to be considered for permanent employment before your contract elapses.

Usually, companies promote temp workers to permanent staff after a while. They assess an employee’s dedication and performance. If you work diligently, you can get a promotion within a short period.

5.    Be reliable

Any firm needs reliable employees. Report to work on time, communicate efficiently with other employees, and maintain high performance. If you are not punctual, an employer will be happy to see you go as soon as your contract expires.

6.    Prove your worth

You can show your value in different ways including through sales goals as it’s critical during annual appraisals. Help your colleagues achieve their goals; it makes you an excellent team player.

7.    Build relationships

Focus on building strong relationships with supervisors and colleagues. Be friendly to other people, assist them to understand the company, and learn their traits. Your colleagues may praise you for your outstanding skills and determination. They’re more likely to inform you of available opportunities in other organizations. It’s prudent to show them your value as a temp worker.

8.    Communication is key

As a short-term employee, be on good terms with everyone in your company. Maintain excellent communication by answering questions and submitting reports on time. Ask questions to understand your roles and responsibilities clearly.

9.    Workplace Culture

Observe your workplace and determine what is acceptable. Avoid making assumptions when you are uncertain. Instead, seek clarification to avoid violating any rule. The best way to turn a temp job into a full-time job is to perform superbly and fit in the company, its values, and culture.

Are you looking for temp jobs in Delaware, DE, Hockessin, Newark and New Castle? Placers offer temporary staffing. Call us at 302-709-0973 for inquiries.

Placers Presents: 9 Impeccable Tips for Making Temp Jobs Permanent

  by    0   0

When companies, SMEs, and organizations need short-term employees, they’ll employ temp workers- also known as contractual workers, “temps,” consultants or freelancers. While there’s no guarantee of those positions parlaying into permanent ones, it’s not impossible if you play your cards right.

If you’re searching for work, a temp job is probably the best way to start. As a contract employee, you have the opportunity to be on the inside, giving you an added advantage over external candidates when competing for permanent jobs.

American firms hire close to 15 million temporary workers annually. Temp workers may miss benefits such as health insurance, job security, and paid leave. Fortunately, most temp jobs are turning into permanent ones now more than ever. Employers opt to hire this way to “try before buying.”

So, what can a temp do to increase the chances of getting employed full time? 

1.    Join with a great Attitude

Most job seekers who get hired as temporary employees are uncomfortable working in various organizations citing lack of motivation from short-term contracts. However, if you accept a temp job and begin with the right attitude, you appear self-motivated and determined. A manager may consider hiring you whenever there is a job vacancy.

2.    Network within your company

Networking is essential for landing on any job, and also applies if you’re on contract employment. Interact and mingle with key players. If you intend to get a permanent job, interacting with other professionals is paramount. They may recommend you for permanent employment when an opportunity arises.

3.    Explore other areas

Most people opt to stick to their roles when hired as temporary staff. Consider learning about other specialties in your company as it makes it hard for supervisors to let you go. Volunteer to participate in other departments projects even if you don’t get paid. You may get a permanent job offer.

4.    Make your interests known

Some temp workers lack the commitment necessary in a permanent job. If you don’t inform your boss of your interest in long-term engagement, they may assume that you enjoy short-term contracts. Make an effort to meet with your manager and ask to be considered for permanent employment before your contract elapses.

Usually, companies promote temp workers to permanent staff after a while. They assess an employee’s dedication and performance. If you work diligently, you can get a promotion within a short period.

5.    Be reliable

Any firm needs reliable employees. Report to work on time, communicate efficiently with other employees, and maintain high performance. If you are not punctual, an employer will be happy to see you go as soon as your contract expires.

6.    Prove your worth

You can show your value in different ways including through sales goals as it’s critical during annual appraisals. Help your colleagues achieve their goals; it makes you an excellent team player.

7.    Build relationships

Focus on building strong relationships with supervisors and colleagues. Be friendly to other people, assist them to understand the company, and learn their traits. Your colleagues may praise you for your outstanding skills and determination. They’re more likely to inform you of available opportunities in other organizations. It’s prudent to show them your value as a temp worker.

8.    Communication is key

As a short-term employee, be on good terms with everyone in your company. Maintain excellent communication by answering questions and submitting reports on time. Ask questions to understand your roles and responsibilities clearly.

9.    Workplace Culture

Observe your workplace and determine what is acceptable. Avoid making assumptions when you are uncertain. Instead, seek clarification to avoid violating any rule. The best way to turn a temp job into a full-time job is to perform superbly and fit in the company, its values, and culture.

Are you looking for temp jobs in Delaware, DE, Hockessin, Newark and New Castle? Placers offer temporary staffing. Call us at 302-709-0973 for inquiries.

Placers Presents: 9 Impeccable Tips for Making Temp Jobs Permanent

  by    0   0

When companies, SMEs, and organizations need short-term employees, they’ll employ temp workers- also known as contractual workers, “temps,” consultants or freelancers. While there’s no guarantee of those positions parlaying into permanent ones, it’s not impossible if you play your cards right.

If you’re searching for work, a temp job is probably the best way to start. As a contract employee, you have the opportunity to be on the inside, giving you an added advantage over external candidates when competing for permanent jobs.

American firms hire close to 15 million temporary workers annually. Temp workers may miss benefits such as health insurance, job security, and paid leave. Fortunately, most temp jobs are turning into permanent ones now more than ever. Employers opt to hire this way to “try before buying.”

So, what can a temp do to increase the chances of getting employed full time? 

1.    Join with a great Attitude

Most job seekers who get hired as temporary employees are uncomfortable working in various organizations citing lack of motivation from short-term contracts. However, if you accept a temp job and begin with the right attitude, you appear self-motivated and determined. A manager may consider hiring you whenever there is a job vacancy.

2.    Network within your company

Networking is essential for landing on any job, and also applies if you’re on contract employment. Interact and mingle with key players. If you intend to get a permanent job, interacting with other professionals is paramount. They may recommend you for permanent employment when an opportunity arises.

3.    Explore other areas

Most people opt to stick to their roles when hired as temporary staff. Consider learning about other specialties in your company as it makes it hard for supervisors to let you go. Volunteer to participate in other departments projects even if you don’t get paid. You may get a permanent job offer.

4.    Make your interests known

Some temp workers lack the commitment necessary in a permanent job. If you don’t inform your boss of your interest in long-term engagement, they may assume that you enjoy short-term contracts. Make an effort to meet with your manager and ask to be considered for permanent employment before your contract elapses.

Usually, companies promote temp workers to permanent staff after a while. They assess an employee’s dedication and performance. If you work diligently, you can get a promotion within a short period.

5.    Be reliable

Any firm needs reliable employees. Report to work on time, communicate efficiently with other employees, and maintain high performance. If you are not punctual, an employer will be happy to see you go as soon as your contract expires.

6.    Prove your worth

You can show your value in different ways including through sales goals as it’s critical during annual appraisals. Help your colleagues achieve their goals; it makes you an excellent team player.

7.    Build relationships

Focus on building strong relationships with supervisors and colleagues. Be friendly to other people, assist them to understand the company, and learn their traits. Your colleagues may praise you for your outstanding skills and determination. They’re more likely to inform you of available opportunities in other organizations. It’s prudent to show them your value as a temp worker.

8.    Communication is key

As a short-term employee, be on good terms with everyone in your company. Maintain excellent communication by answering questions and submitting reports on time. Ask questions to understand your roles and responsibilities clearly.

9.    Workplace Culture

Observe your workplace and determine what is acceptable. Avoid making assumptions when you are uncertain. Instead, seek clarification to avoid violating any rule. The best way to turn a temp job into a full-time job is to perform superbly and fit in the company, its values, and culture.

Are you looking for temp jobs in Delaware, DE, Hockessin, Newark and New Castle? Placers offer temporary staffing. Call us at 302-709-0973 for inquiries.

Placers Presents: 9 Impeccable Tips for Making Temp Jobs Permanent

  by    0   0

When companies, SMEs, and organizations need short-term employees, they’ll employ temp workers- also known as contractual workers, “temps,” consultants or freelancers. While there’s no guarantee of those positions parlaying into permanent ones, it’s not impossible if you play your cards right.

If you’re searching for work, a temp job is probably the best way to start. As a contract employee, you have the opportunity to be on the inside, giving you an added advantage over external candidates when competing for permanent jobs.

American firms hire close to 15 million temporary workers annually. Temp workers may miss benefits such as health insurance, job security, and paid leave. Fortunately, most temp jobs are turning into permanent ones now more than ever. Employers opt to hire this way to “try before buying.”

So, what can a temp do to increase the chances of getting employed full time? 

1.    Join with a great Attitude

Most job seekers who get hired as temporary employees are uncomfortable working in various organizations citing lack of motivation from short-term contracts. However, if you accept a temp job and begin with the right attitude, you appear self-motivated and determined. A manager may consider hiring you whenever there is a job vacancy.

2.    Network within your company

Networking is essential for landing on any job, and also applies if you’re on contract employment. Interact and mingle with key players. If you intend to get a permanent job, interacting with other professionals is paramount. They may recommend you for permanent employment when an opportunity arises.

3.    Explore other areas

Most people opt to stick to their roles when hired as temporary staff. Consider learning about other specialties in your company as it makes it hard for supervisors to let you go. Volunteer to participate in other departments projects even if you don’t get paid. You may get a permanent job offer.

4.    Make your interests known

Some temp workers lack the commitment necessary in a permanent job. If you don’t inform your boss of your interest in long-term engagement, they may assume that you enjoy short-term contracts. Make an effort to meet with your manager and ask to be considered for permanent employment before your contract elapses.

Usually, companies promote temp workers to permanent staff after a while. They assess an employee’s dedication and performance. If you work diligently, you can get a promotion within a short period.

5.    Be reliable

Any firm needs reliable employees. Report to work on time, communicate efficiently with other employees, and maintain high performance. If you are not punctual, an employer will be happy to see you go as soon as your contract expires.

6.    Prove your worth

You can show your value in different ways including through sales goals as it’s critical during annual appraisals. Help your colleagues achieve their goals; it makes you an excellent team player.

7.    Build relationships

Focus on building strong relationships with supervisors and colleagues. Be friendly to other people, assist them to understand the company, and learn their traits. Your colleagues may praise you for your outstanding skills and determination. They’re more likely to inform you of available opportunities in other organizations. It’s prudent to show them your value as a temp worker.

8.    Communication is key

As a short-term employee, be on good terms with everyone in your company. Maintain excellent communication by answering questions and submitting reports on time. Ask questions to understand your roles and responsibilities clearly.

9.    Workplace Culture

Observe your workplace and determine what is acceptable. Avoid making assumptions when you are uncertain. Instead, seek clarification to avoid violating any rule. The best way to turn a temp job into a full-time job is to perform superbly and fit in the company, its values, and culture.

Are you looking for temp jobs in Delaware, DE, Hockessin, Newark and New Castle? Placers offer temporary staffing. Call us at 302-709-0973 for inquiries.

Placers Presents: 9 Impeccable Tips for Making Temp Jobs Permanent

  by    0   0

When companies, SMEs, and organizations need short-term employees, they’ll employ temp workers- also known as contractual workers, “temps,” consultants or freelancers. While there’s no guarantee of those positions parlaying into permanent ones, it’s not impossible if you play your cards right.

If you’re searching for work, a temp job is probably the best way to start. As a contract employee, you have the opportunity to be on the inside, giving you an added advantage over external candidates when competing for permanent jobs.

American firms hire close to 15 million temporary workers annually. Temp workers may miss benefits such as health insurance, job security, and paid leave. Fortunately, most temp jobs are turning into permanent ones now more than ever. Employers opt to hire this way to “try before buying.”

So, what can a temp do to increase the chances of getting employed full time? 

1.    Join with a great Attitude

Most job seekers who get hired as temporary employees are uncomfortable working in various organizations citing lack of motivation from short-term contracts. However, if you accept a temp job and begin with the right attitude, you appear self-motivated and determined. A manager may consider hiring you whenever there is a job vacancy.

2.    Network within your company

Networking is essential for landing on any job, and also applies if you’re on contract employment. Interact and mingle with key players. If you intend to get a permanent job, interacting with other professionals is paramount. They may recommend you for permanent employment when an opportunity arises.

3.    Explore other areas

Most people opt to stick to their roles when hired as temporary staff. Consider learning about other specialties in your company as it makes it hard for supervisors to let you go. Volunteer to participate in other departments projects even if you don’t get paid. You may get a permanent job offer.

4.    Make your interests known

Some temp workers lack the commitment necessary in a permanent job. If you don’t inform your boss of your interest in long-term engagement, they may assume that you enjoy short-term contracts. Make an effort to meet with your manager and ask to be considered for permanent employment before your contract elapses.

Usually, companies promote temp workers to permanent staff after a while. They assess an employee’s dedication and performance. If you work diligently, you can get a promotion within a short period.

5.    Be reliable

Any firm needs reliable employees. Report to work on time, communicate efficiently with other employees, and maintain high performance. If you are not punctual, an employer will be happy to see you go as soon as your contract expires.

6.    Prove your worth

You can show your value in different ways including through sales goals as it’s critical during annual appraisals. Help your colleagues achieve their goals; it makes you an excellent team player.

7.    Build relationships

Focus on building strong relationships with supervisors and colleagues. Be friendly to other people, assist them to understand the company, and learn their traits. Your colleagues may praise you for your outstanding skills and determination. They’re more likely to inform you of available opportunities in other organizations. It’s prudent to show them your value as a temp worker.

8.    Communication is key

As a short-term employee, be on good terms with everyone in your company. Maintain excellent communication by answering questions and submitting reports on time. Ask questions to understand your roles and responsibilities clearly.

9.    Workplace Culture

Observe your workplace and determine what is acceptable. Avoid making assumptions when you are uncertain. Instead, seek clarification to avoid violating any rule. The best way to turn a temp job into a full-time job is to perform superbly and fit in the company, its values, and culture.

Are you looking for temp jobs in Delaware, DE, Hockessin, Newark and New Castle? Placers offer temporary staffing. Call us at 302-709-0973 for inquiries.