How are you doing?  Here I found very good article regarding managing finance during slowdown. I hope it this will help you in to manage future decade for your career and finances. Also, Let’s hope Indian economy will continue performing good and survive with global economy crisis.

We’ve learnt our lessons the hard way. But rather than wait for the next
recession blow, one can play it safe.   Sanjeev Sinha  ( The Economic Times)

10 points that can equip you to deal with similar situations

THE OVERALL impact of the financial meltdown, which is certainly huge, is
now evident across the world. Particularly, the pain of job losses and drop
in savings is being felt everywhere. This, in turn, has instilled a sense of
fear and cynicism in the minds of investors globally. Still, while we are
making vast efforts to extricate ourselves from the current crisis, little
effort is being made to prevent the next one. Rather than wait, however,
there are many things which can be done now to avoid another crisis, or at
least cushion the blow when it comes. Listed below are 10 personal finance
lessons we can and should learn from the meltdown:

CONTROL EXPENSES & STICK TO THE BUDGET

You are more likely to face financial problems, if you have been extravagant
in your expenses. However, in a bid to tide over the current crisis and also
avoid such crises in future, you need to adhere to some financial
disciplines, and making a budget and sticking to it is one of them. Sticking
to the discretionary budgets, in fact, can help you handle the uncertainty
in the non-discretionary expenses.

DON’T COUNT ON TOMORROW’S INCOME

Counting on tomorrow’s income to spend today is one of our greatest
mistakes, which has already been proved by the current crisis. In fact, up
until the financial meltdown hit us, the spending levels of individuals,
especially in the 25-35-year age group, have been almost equal to their
income, if not more. “With the easilyavailable loans and credit cards they
were tempted to indulge even without being able to afford the expense. Now
with pay cuts and job losses, they are facing the worse. However, even if
you keep your job now, the prevalence of pay cuts makes it clear that you
can’t count on an ever-expanding paycheck to make up for your spending,”
says Lovaii Navlakhi, managing director & chief financial planner of
International Money Matters.

MAINTAIN LOW DEBT

Prioritise your debts. Pay off your loans with the highest interest rate
first. Basic advice, right? “The problem is that people have been
reiterating this theory for years, but most do not put it into practice.
This step requires one to plan out one’s debts and then follow through by
reducing it regularly and systematically. True, paying off debt can be a
difficult task, but it can also be quite rewarding as it gives you peace of
mind,” says Navlakhi.

GO FOR STRATEGIC ASSET ALLOCATION

Time and again we will hear from the so-called experts that there is a
paradigm shift in the market dynamics and that investors need to revise
asset allocations more aggressively to meet the impending demands of their
future lifestyles. “But one should strictly avoid falling for such traps.
Though temporarily the portfolio may appear underperforming, sticking to
fundamentals of strategic asset allocation would always help investors come
out of such temporary market mishaps,” says Ramesh Patibanda, director -
financial planning, Advice America, world’s leading provider of financial
advisor software solutions.

HAVE EMERGENCY FUND IN PORTFOLIO

Having an emergency fund in your portfolio is an ideal way to tide over a
family crisis or meet unexpected expenses. Therefore, the need for
maintaining emergency funds has always been emphasized by our forefathers.
“Even standard financial principles suggest that you should keep aside cash
to cover three to six months of living expenses, which would also be able to
cover most emergency expenses. Your emergency funds can also come handy in
case of a job loss,” says Ashish Kapur, CEO of Invest Shoppe.

ORGANISE YOUR FINANCES

To those who are not used to monitoring and managing their finances closely,
this may sound like a lot of work. But once you get a system in place, it
should only take a bi-monthly monitoring to stay on top of everything.
Ensure that you maintain sufficient liquid funds for emergencies. Also,
monitor your loans and ensure that you make credit card payments before the
due date.

LEARN TO PLAN AHEAD

It’s no secret that poor planning contributed to why so many people are
currently in weak financial situations. However, don’t panic. Figure out
where you are, where you want to be and put in place a realistic plan for
getting there. Unique circumstances will come up and cause you to stray from
your plans temporarily, but structure is necessary in order to monitor your
progress and stay focused.

INVEST SLOWLY & SYSTEMATICALLY

The problem for many people is that they live month to month and don’t
develop healthy saving habits until they are in their thirties or forties.
“Contributions to a savings plan should be recognised as the first of your
necessary monthly expenses, so that money saved will never be thought of as
money that can be spent. Even if you start saving in small amounts now, you
can always increase in the future,” says Navlakhi.

TAKE CONTROL OF YOUR INVESTMENTS

The worst thing you can do in a slow economy? Panic and pull all of your
money out of your investments! Therefore, resolve to protect your finances
as the market storm rages on. Take this time to build up your emergency
fund, and set reminders to regularly review your portfolio’s asset
allocation. “Try to align the same with your mid-term and long-term goals.
Do not get distracted by the usual city traffic jams when your final
destination is miles away,” advises Atul Surana, certified financial
planner, Catalyst Financial Planning.

HAVE REALISTIC EXPECTATIONS

There’s nothing wrong with hoping for the ‘best’ from your investments, but
you could be heading for trouble if your financial goals are based on
unrealistic assumptions. Therefore, when Warren Buffett says that earning
more than 12% in stock is pure dumb luck and you laugh at it, you’re surely
in for trouble!

Source: Economic Times, Sunday, 28 June 2009

//

In your personal life, when attending to business or working on side
projects, how often do you spend 8 consecutive hours in front of a
computer? It doesn’t make sense because we lose the ability to
concentrate effectively within a few hours.Everyone goes through
alternating periods of high and low mental acuity. There are days
when I work on personal projects for well over 8 hours, but the time
is always divided into multiple sessions. I might spend a few hours
coding a design, a few hours writing, and a few hours reading feeds,
moderating comments, and responding to email.

I work this way because it aligns with my mental energy cycle. Any
more than 3 hours in front of a computer and my eyes start hurting
and I become restless. I lose the ability to do my best work.
Instead of forcing myself to continue, I switch to an activity that
allows my mind to recharge. These breaks maximize productivity by
eliminating down periods. It’s counter productive to force work when
the mental energy isn’t there.

The Problem with an 8 Hour Work Day

A continuous 8 hour work day is a relic of the past. It makes sense
for physical labor and manufacturing work, but with information
workers it doesn’t account for the mental energy cycle. The ability
of a factory worker to think analytically is irrelevant, he’s either
cranking widgets or he isn’t.

In the case of the modern information worker, nearly all tasks
involve creative or strategic thinking. The way someone answers an
email or interprets a piece of information can differ drastically
depending on his or her energy level. Nobody does their best work
5:30 in the afternoon after they’ve been sucking down coffee all day
to stay awake.

I can’t speak for all workers, but I’ve observed that productivity
levels generally peak twice a day — first thing in the morning and
shortly after lunch. The most productive period is the beginning of
the day. People are capable of creative tasks like writing and
solving complex technical problems. After a couple hours of intense
work, energy levels drop and workers downgrade to less demanding
tasks like responding to email and tinkering with existing
creations. Towards the end of the cycle, the mind is so cluttered
and drained that workers resort to “work related activities” that
appear productive but don’t contribute to the bottom line. The
afternoon cycle is similar but the productivity peak isn’t as high.
For different people the peaks and valleys will vary, but overall
I’d estimate only 3-4 hours a day could
be classified as highly productive.

This number isn’t caused by slacking. You can’t force an information
worker to be highly productive when the energy isn’t there. Workers
can try their hardest, but the work just won’t have that creative
edge. The low ratio of highly productive hours to total hours worked
is the result of the continuous 8 hour work day.

When workers reach the low energy part of the cycle, they can’t
recharge with a non-work activity. The only option is office
purgatory. You can’t be highly productive because you’re mentally
fatigued, but you can’t recharge because the 8 hour work day
requires the appearance of constant productivity. The result is
millions of unproductive workers trapped at their desks when they’d
rather be doing something else.

Alternative Work Arrangements

The obvious solution to this problem is planning around the mental
energy cycle by breaking the work day into multiple segments. The
traditional office setting doesn’t accommodate this because there
are few available recharge activities. People can’t do household
chores, run errands, or engage in recreational activities without
leaving the workplace.

Some companies have tried to make the work environment more
accommodating by offering meals, fitness centers, and special areas
for relaxation. Although these amenities are certainly an
improvement, they’re expensive for employers and only partially
satisfy employees.

The solution that makes the most sense is a remote work arrangement
because it reduces employer costs and allows employees to adjust
their work schedule to their mental energy cycle. When a worker
becomes mentally fatigued, they can go off the clock and engage in
recharge activities that are personally productive like exercise or
relaxation. When energy returns, the worker can start working again
at a high level, effectively cutting out the low productivity period
of the cycle. Employers don’t pay for unproductive time and
employees get to work in a more natural pattern that adjusts to
their personal lives.

Why isn’t everyone doing this already? Many workers already are, and
as commutes get worse and communications improve, the number will
continue to increase. Of course there will always be a need for
officeworkers in businesses (like doctor’s offices and law firms)
that require daily customer interaction, but for most companies it
really isn’t necessary.

There is also the argument that people need to collaborate in
person. This is steadily becoming less essential. Most office
communications are already done through email or instant messager.
Face to face meetings are certainly necessary, but for the vast
majority of lower and mid level employees meetings are the exception
and could be conducted via phone/video conference or condensed into
one or two days a week.

Another common objection is that employees will abuse remote work
arrangements by slacking off. I’m inclined to believe that most
adults value their employment enough that this isn’t a problem. In
cases where supervision is required, web cams and other technology
can used to monitor a worker.

I suspect the real reason remote work arrangements are still the
exception is inertia. Companies are used to doing business in the
office and are reluctant to change. There is also the presence of
office politics. If one person is given a remote arrangement,
jealous employees will complain. Doesn’t it make sense to give
everyone what they want and save a boat load of cash on office
space?

I may only be a kid in his 20’s, but I can tell when something just
makes sense. I perceive an increasing number of people are noticing
the same phenomena. Forty years from now we’ll be telling our
grandchildren about the olden days when everyone’s mommy and daddy
went to work in an office.

In the simplest explanation, balance in life means ‘time for everything’. Work-life balance means you undertake and enjoy the responsibilities and workloads of both, your work and your family life. Balance doesn’t necessarily mean having more free time. But it does mean that you utilize every moment in a way that is as pleasant and productive for your own living.

Why a work-life balance is important?

Life is obviously more important than work. But without work, life wouldn’t be a complete one too. The first and foremost reason to have a job is to build a life that is most comfortable and hassle-free. The years that have been spent for so much of studies are for getting a job like this. But once you land up with your desired job, instead of a new exciting life, you loose the balance just like a newborn trying to fly a kite.

You have already come through the reasons. Now let’s see the problems when there is no work-life balance. The basic problems happen due to the absence of a proper balance in life are,

• Health and fitness problems
• Stress and tensions
• Relationship problems
• Financial Problems

But these basic problems will give rise to unimaginable consequences. Diseases, most rare and fatal, mental disorders, memory problems etc may just haunt you like anything. But where is the help? What are the ways to find a rhythm of life? What are the necessary elements in your life that need a proper alignment and balance? Just scroll down….

Tips for a work-family agreement

Knowing when to disconnect, shut it off, unplug, or walk away from work is one of the essential keys to balance work and family life.

When was the last time you completely left work behind? How frequently do you take work home, check e-mail or voice mail from home, or take your work with you on vacation? Do you feel you can’t afford to not do these things? What’s the real impact on your personal sense of balance when you are consistently making work your top priority?

However, more often than not, you let work seep into your personal lives even when there’s not a bonafide emergency or time-urgent crisis. You’ve become so accustomed to the ever-presence of your work that you’ve unconsciously allowed further intrusions that have, in many cases, become unreasonable.

1) Plan your life

Plan your works and the time for each of them. Avoid working late or taking assignments home out of habit. Do it only when you have an urgent project deadline. It will not be a wise career move to be a clock-watcher or an Out At 5 kind of guy, but it is a good idea to make plans after work a couple of days each week. It will get you out the door at a reasonable hour and refocus your attention.

2) Work at work and family with family

Protect each role from interference by the others. When you are at work do your work with dedication. At home be a total family man. Turn off your cell phone, laptop, beeper, or email when you are at home, so that you can be fully “present” during this time. Similarly, when you are at work, try to limit personal life intrusions – this will help you be more efficient and effective during your workday.

3) Achieve a psychological balance

Time is not necessarily the main conflict you experience between work and personal life. Most of the time it is your psyche that destroys your balance. The psychological disturbances have serious impact over the work-life ongoing. The psychological conflicts (guilt, difficulty “turning off” work behaviors at home, pressure, anxiety) create the most problems. To balance here, you have to withdraw your mind from some of those unhelpful emotional participations. This will help cut all the negative emotions you have.

4) Utilize office options

Take advantage of your workplace’s family-friendly policies and supports. If your workplace offers discretion over the methods, timing, or location of your work, use this flexibility to improve your situation. Check for the availability of workplace options such as flex-time, telecommuting, compressed work weeks, vacation purchase plans, etc. Many companies are recognizing the importance of satisfied employees and are helping them achieve worklife balance.

5) Share the Load

Don’t assume yourself doing all the family necessaries. Get your partner or other family members to help you with all your personal/family responsibilities. Taking care of the household, children, or parents should not be the responsibility of just one person.

6) Take it easy- the best policy

Except living, everything is of no value. This is a great philosophy to be understood. Don’t give something an importance more than what it deservers. Let things go smoothly and easily. Learn to recognize the things that don’t really have much impact in your life and allow yourself to let them go.

Tips to balance your WORK and LIFE

Life is more than a series of meetings- emails and presentations. But when you get a job in one of your dream companies, when you start working, when responsibilities haunt you from behind, you tend to miss life somewhere under a pile of tensions and deadlines.

Since no steps are taken to bring back that LIFE into your life, by the time small tensions grow up to big diseases and deadlines broaden to your lifetime.

Absence of a work-life balance is commonest in today’s professional lives. Responsibilities are the criminals here. When your work demands more responsibility from you, the other side of your life starts struggling. When life, importantly personal or family life, calls for more attention from your side, your professional focus sinks. This kind of an aimless, unbalanced life-flow offers you tensions and stress lavishly and you fall as an easy victim to the diseases every time. No wonder, very strange and rare diseases befall, as you struggle from all the spheres of your being, the physical, psychological as well as the spiritual being.

Life of a technology professional: What’s wrong?

Let’s get down to the world of technology professionals. If you are a professional, sure, you wouldn’t have time even to scroll down to the bottom of this mini-course. But don’t escape; stay on, as it is going to save a whole lifetime for you.

Technology is the forerunner of life today. In the last 80-100 years, the world of technology has seen a high-speed growth. Today, it’s the beginning, center and the horizon of life. In order to come up with competing and cutting edge technological outgrowths, countries and companies are on a lifetime marathon. But in the meanwhile, no one puts a break to find out the miseries of the players, the professionals who are behind all the success.

IT has always been a tension-generating field of work. The life of an IT professional is an all time push-pull between deadlines and tension generating exertions. There are specific reasons why IT delegates such enormous pressures on the laborers.

• The extreme competition between companies. To produce the most competent technology or software and to acquire a top seat in the long time run, the companies compete endlessly. This battle directly puts the employees under extra work pressures, as the companies always want more from them.
• Deadlines. Frequent deadlines for projects that are very complicated and time-consuming take the employee out of a balanced life.
• Unmatchable growth of technology. Cutting edge technological introductions puts pressure to the professional most of the time, as it may be difficult to comprehend and follow.
• Poor team works. Teamwork that is below satisfactory levels gives pressure to everyone included in the team. Least performing and uninterested team-mates chop the confidence of the hard workers and untie their self-assurance towards the work. Personal relationship inside the teams too counts to the stress level of the employee.
• Due to strict work schedules, when there is no enough time to concentrate on the way of healthy living, the professionals face enormous problems in life. Add to that when carelessness originates, the balance of life slips almost completely due to unavoidable diseases and health problems. Frequent food avoidance, sleeplessness, unproductive habits that are fatal to the health are some of the widely seen lifestyle elements among professionals.

While the job rewards you with commensurate financial packages, a good part of your life is gone under the tight schedules of working. Constant pressures get you with fatal diseases. Deadlines hang before your smooth flow of life and takeout the interest to a large extent. Projects have to be completed in time so that your personal requirements are sacrificed. Family, friends, funs and fantasies appear blurred before your office tensions and temperaments. And some of you may even take those bites of pressures handsomely to your homes, thus making the scene worse than ever.

At one side there are personal responsibilities and physical complaints. And at the other end there are official responsibilities and deadlines.

Family against career! Responsibilities against obligations!

What can you satisfy? What you would quit? You get totally confused. You need to balance. You want that extra hold that helps you balance between the pressures of work and commitments of home.

The importance of this article is at this point. It has got those mantras of work-life balance. It really means a lot when you are reasonably tired of tossing your work and life time to time. So give yourself to this article for the moment. By the time you relax your tensions, it will carry you to a world, where the secrets of balancing your life are hidden like an instant treasure. But before that you should know what is meant by balanced life?

We live today in the most hectic and feverish world. For the most of us each day seems to be a race; a daily race or “rat race”, an exhausting daily routine that leaves you no time for rest and relaxation. What is alarming is that the speed of this race increase from day to day, we become a sort of “speedaholics”. And as if this wouldn’t be enough we borrowed from the PC world the concept of multitasking (running two or more tasks at the same time) and try to implement it in our daily life. We want to do more because, in this era of consumerism, almost all of us are conditioned to want/have more. Rarely we take into account to be more, to think and feel better rather than do and have.

Slow down when all around you are speeding up! But why slow down when I have so many things to do? So many possible unborn projects and so many unfinished things! Why slow down when all around us hurry up for the big prize: the result. Answer: because not the result is the key but the process. It matter less what I get at the finish and more how I feel on the way there. Being always in a hurry doesn’t make any good to our body as well as to our mind. Our body needs to find its own pace to work at easy and our mind need time to taste all wonderful things around us.

Keep a state of calm, whatever the cost may be! Many of us have learned to live in a state of agitation and anxiety. They think this state help them to keep the pace with the rapid change of modern times. But this is a trap; it will lead you finally to exhaustion. In hurry times we need a calm mind to manage agitation around us. Nietzsche wonderfully described this kind of people: “they live as if they are missing something”.

So all we have to do in speedy times is to preserve a state of calm, even if the cost may seem very big. This is a trap too; the real cost come when you lose this state of calm.

If a thing is worth doing, it is worth doing slowly! There are so many things that ask for our attention, effort and energy, that we have to be very very selective with our projects. Before spending our time and energy on any project that come in our way, we need a drastic evaluation of its worthiness. If something isn’t essential for our life we must get rid of it immediately and if something can make a great difference in your life just take action. But don’t act in a hurry, because all things worth doing are worth doing slowly. Only doing things slowly we have the possibility to enjoy the process of doing in itself, and so to enjoy life.

Slow Manifesto

Do less, slowly. Multitasking is a moral weakness.

If you can slow down when all around you are speeding up, then you’re one of us. Be proud that you are one of us and not one of them. For they are fast, and we are slow. There are those that would urge us to speed. We resist!

We shall not flag or fail. We shall slow down in the office, and on the roads. We shall slow down with growing confidence when all those around us are in a shrill state of hyperactivity (signifying nothing). We shall defend our state of calm, whatever the cost may be. We shall slow down in the fields and in the streets, we shall slow down in the hills, we shall never surrender!

Why? Because if a thing is worth doing, it is worth doing slowly. Some are born to slowness – others have it thrust upon them. And still others know that lying in bed with a morning cup of tea is the supreme state for mankind.