Study Tips For Exams To Score High Grades

Study Tips For Exams To Score High Grades

Regardless of the type of academic test or exam, everyone wants to clear it. There is also a strong desire in the minds of the students to score high grades so that they can get opportunities for a bright future. But in this age of tough competition, it is not easy for everyone to be a topper or succeed in scoring high grades. In this blog, we share very effective study tips for exams to score high grades. These tips tell the students how to study for final exams and also a final tip on how to write in the examination hall.

Also there is a short video in this blog on this subject which you would not like to miss.

Study Tips For Exams To Score High Grades

Just like a recipe to get success in any aspect of life, if you study thoroughly with proper planning and follow proper ways to study given here, you too can come through the exam with flying colors and even top in the exam.

1. Don’t Get Tense and Stay Positive

The very thought of test or final exams is enough to give stress to most students. You tend to give half of your energy and power to tension and stress – something which you have invited yourself. You are now left with part of your full strength to prepare for the coming exams.

Do you ever run in the race on one leg tied and hope to win, if others are running on two legs?

The solution is very simple – just believe in positive thinking. Any problem or fear can be overcome by positive thinking.

Positive thinking keeps you relaxed and you are able to study better. So it is very important to be a positive thinker. Positive thinking keeps you in good spirits and helps you to focus on your preparation for exams.

Furthermore, it would be wonderful to visualize a successful outcome regularly. Affirmations for Success in Exams for Students would a great tool in your hands. This way you are more likely to have a better result of your test, because you are making your mind and thinking more positive. Keep telling yourself that you will do great. Be confident and stay upbeat.

2. Practice writing

Practice of writing the answers to the questions has been considered very useful. If you write the answers to the questions repeatedly, you will understand all the concepts better and proper answers get settled in your mind.

Second and third advantages are improvement in your handwriting and better speed of writing. Writing practice done before the tests increases the speed of your writing and you can perform better in the exams.

In order to determine the time of writing the answer of the questions, write answers to different questions in your note book and note down the time you take to write answer to one question. Next time try to improve on it.

3. Study the subjects as per a planning

Before preparing for the exam, pay more attention to the subject in which you are weak. If you do not pay attention from the beginning on that particular subject, then by the time you come near to the date of exams, the burden of that subject can increase on you.

For a better focus on your studies and preparation for exams, it is important to, to focus on only one topic or subject at a time. If you start studying all the subjects together, then your focus might get diluted as you would be entangled in all subjects.

One of the best study tips for exams is to create a study schedule and stick to it.

Split the study course into small modules. This way you can study more easily and prepare for exams better. That way, you can keep track of what you have accomplished instead of looking at the big picture and get overwhelmed.

4. Take good notes in the class

It would be good idea to take down proper notes in the class itself, when you are studying in School / College / University. It will help you to have an easier time studying later. Not only will taking down proper notes facilitate your learning but it will also help you in absorbing the subject / topic. Naturally this will make you pay attention to the teacher. Also you’ll have a ready to study reference material when you prepare for exams later.

5. Preparing notes smartly

Preparing separate notes of all the subjects can help you understand the topics and answer to the questions better. When creating notes, you may like to highlight or underline the main points so that when you look at those notes again, you can focus your attention on those special points and remember those points well.

6. Eat healthy and nutritious food

Healthy and nutritious food is important to keep body fit. If you want good marks in the exams, you have to study well then eat right. A fit and healthy body will help you study without any problems.

Eating healthy will also help boost brain performance too, so make sure during your studies, you’re eating a healthy diet.

Your diet should be balanced. Do not skip any important meal. Being hungry will distract you and make you feel tired. Make sure that soup, green tea and fresh juice are included in your diet. Do not try to live only by drinking tea, coffee and keep away from junk food and smoking.

Also do not eat too much, you might invite laziness.

7. Remove Distractions and Improve Concentration

Nowadays the whole world exists in our computers and mobile phones. Just connect through the internet and you have the updates about the whole world. But at this critical time, do you have full update about your own preparation for the exams?

Therefore, for some days, remove all the distractions from your life. Especially stay away from gaming, social media and TV etc. Cut down the time spent on mobile and computer. Set yourself a schedule for a few minutes such as in the morning and in the evening, for some entertainment and to keep yourself updated.

You can also do meditation or affirmations to prevent wandering of the mind.

8. Study Group

Many a times, preparing for the exams in group to get grades could be a smart option. It could be beneficial to understand a particular difficult subject or topic in group study. Also group study is very helpful in learning the answers to questions. It makes the tedious jobs easier in the group. You are more likely to cement the facts and fundamentals in your head and recall them later for the exam.

But in group study, you can get the benefit only when you and your friends are serious about studies. Gossiping and sharing jokes can waste your precious time. Therefore, to get the maximum advantage, it is best organize group study sessions under the supervision of a professional or a parent.

9. Making full use of Morning Time

Morning is considered to be the best time for studies. Early in the morning, the mind is completely fresh and the body is full of energy. That is why it is said ‘Early to bed and early to rise, makes a man healthy, wealthy, and wise’. Therefore, opt for the morning session as this is the best time for the studies and the time spent learning is remembered for a long time.

10. Take study breaks regularly

When you are studying hard and for long hours, make sure you take a 5 -10 minute break after every 45 minutes of study. The regular breaks will help keep your brain from getting overloaded and give it more time to absorb what you have studied.

On study breaks, try not to save your brain from over-filling even if that information is about the specifications of a latest mobile phone launched. Otherwise, this will over saturate your brain.

Ensure that you take the break to recharge and relax your mind.

11. Time Management while answering the Question Paper

This is a very important tip when you are in the examination hall. Normally a student is given fixed time to answer a set of questions. To get high grades, it is important that all the questions are properly attempted and answered. If you do not keep track of the time when writing the answers to the questions then you can miss some questions, which will affect your marks. When you don’t have time to attempt a question because of paucity of time, you lose marks.

Therefore, setting a time limit for completing every question is a very important strategy in the examination. So if you have 3 hours to write answers to 5 questions, you should take away first 5 minutes for reading question paper thoroughly and last 10 minutes for revision. That leaves you with about 33 minutes for each of the 5 questions. Begin by writing the answers to those questions first to which you know the answers well and do it in allotted time.

Then proceed to write answers to other questions and finish each answer within the allotted time. By doing so, you can write the answers to all the questions.

Short Video: Study Tips For Exams and How To Score High Grades

Dear Readers,

It is hoped that these tips will definitely help you to study properly for your exams so that you can score good grades. For the benefit of you friends and classmates, please do share this with them also by clicking on the Social Media Buttons below.

Other useful articles on the related subject in this blog:

 

About the Author

Sundeep Kataria CV MakerSundeep Kataria is the CEO of ACS Consultants – a Management Consulting Firm. He holds multiple qualifications: MBA, PGDIT (IIFT), MS in Counselling & Psychotherapy and Diploma in Company Law. He has also formally learnt Digital Marketing and Website Making.

In 1995 he pioneered the concept of professional Career Counselling, Executive Coaching and Mentoring. Over the years he has mentored many professionals, like CAs, Engineers, Sales & Marketing Professionals, IT Experts etc.

The unique style of Sundeep Kataria is that he connects with each and every individual personally, holds in depth discussion before undertaking the assignment.

 

10 Trending Careers in Accounting

10 Trending Careers in AccountingEarlier, the trendiest accounting career in India was of Chartered Accountant. Indeed, it remains one of the prized professions in India. However, there are several other trending careers in accounting too, if you are interested. Here we list 10 Trending Careers in Accounting – which are exciting and trending careers in accounting.

Accounting may sound annoying or even scary to a lot of us. Yes. Accounting jobs do require astute knowledge of mathematics and various complicated calculation techniques. A penny lost or unaccounted for due to any error can have severe effects on the finances of anyone- as individual or business. You may also like to refer to: High Growth Careers in Finance and Investment

10 Trending Careers in Accounting

A lot of these jobs are trending nowadays because accounting is fast emerging as one of the most lucrative professions. Not only in India but abroad too. If you are good at accounting, try some of these trending careers. For additional information, also refer to: High Growth Careers in Accounting

Video for you: We have a short video on the same subject and it is at the end of the blog. Click here to go to video directly.

#1 Accounting Lecturer

With several private colleges and universities mushrooming across India, there exists a considerable demand for accounting lecturers. In fact, working as accounting lecturers is trending since more students seem to be opting for commerce studies rather than science or arts.

You can easily find jobs as accounting lecturer at any good and established or even upcoming college or university. This profession is very highly respected. If lucky, you can also find placements at a government university.

#2 Risk & Fraud Controller

There are 21 private banks in India which are broadly divided into two categories: ‘Old’ and ‘New Age’. Additionally, the Indian government has also authorized Small Finance Banks while cooperate banks are stepping up operations. Consequently, banks compete fiercely with one another to bag customers for loans, credit cards and other services.

As you would be aware, the Indian banking system is rife with scams. Therefore, banks look for accounting professionals that can correctly identify fraudulent financial statements from businesses and individuals. This job or risk assessment and fraud control is fascinating. You work as a detective and prevent losses to your bank due to bad loans.

#3 Internal Auditor

With new corporate laws coming into force over the last nearly four years, companies are required to report their financial status with complete transparency. While respected auditing companies audit their accounts, the process has first to be done internally.

Working as an internal auditor for a small or large company remains one of the top 10 trending careers in accounting. Here, you will have to audit the company’s balance sheets and account statements, find and report any problems before they are sent to an external auditor. This is also a very respectable and highly paid career.

#4 Financial Reporter

If you are an accounting professional with a flair for writing, join as a financial reporter with any good newspaper, TV channel or news portal. The Indian middle-class, which was once wary of investing money is now on the lookout for ways and means to make their finances grow. They scout newspapers and other media for attractive investment opportunities.

However, giving the right news about a company, economy or financial situation needs great accounting skills. Print and electronic media in India is on the upswing. Hence, working as a financial reporter is a trending career you can find in the finance field.

#5 Fund Raising Specialist

Respectable charities require funds to expand their operations and help more people. To do so, they need people to donate money through fundraising campaigns and awareness programs. As a fundraising specialist, you will have to identify which segments of the charity needs funds on a priority basis and allow sufficient money for activities.

A fundraising specialist draws programs and plans for conducting activities that encourage people to donate for the cause. For this, accounting experts are needed. You will have to identify fundraising avenues and find how much can be raised. As international charities expand operations in India, this too is a trending career in accounting.

#6 Fund Administrator

Activities of a charity do not end with mere fundraising. They need accounting professionals who will identify areas where funds are needed on priority and draw budgets. This is an essential function since a charity aims at reaching to the highest number of people with whatever funds it has.

Accounting professionals, therefore, can find excellent jobs are funded,administrators. Organisations that conduct charity events such as marathons, walkathons and concerts also look for fund administrators. As these activities increase and people get more aware of the importance of giving, fund administration is a trending career for accounting professionals.

#7 Mutual Funds Manager

Surely you must have heard of this ad, ‘Mutual Funds Sahi Hai.’ The Indian government and various Asset Management Companies are promoting Mutual Funds aggressively to the middle class and lower income investors. Consequently, AMCs are also launching new Mutual Funds to woo investors. Hence, they need excellent Mutual Fund Managers.

Now managing a Mutual Fund is no child’s play. It requires astute knowledge of accounting, finances, stock exchanges and stock markets among others. Mutual Fund Manager is a trending and very lucrative career in India nowadays. You can get a job with some good AMC as deputy or assistant Mutual Funds Manager and move on wards to senior positions.

#8 E-commerce Analyst

India is witnessing a boom in eCommerce, according to local and foreign sources. The trend will continue and spill into the next decade. Consequently, an increasing number of companies are entering the eCommerce sector and selling stuff online. While companies like Amazon and Flipkart are well established, they are witnessing a boom in business. New entrants and smaller companies too are making slow yet steady headway.

All these online retail companies need eCommerce analysts to find out various aspects of their operations. Prime among these is the expense of advertising, the number of visitors and resulting sales as well as keeping tabs on money received or refunded. This job can be done only by accounting professionals. As eCommerce booms, you can find excellent trending career as an analyst.

#9 Financial Adviser

Financial Advisers are hired mainly by all good private banks. These private banks enable their clients to invest wisely in various savings products and other schemes. To provide tremendous and proper advice to customers, reputed private banks hire financial advisers. If you have excellent interpersonal skills and are accounting professional, opt for this trending career as a financial adviser.

Private banks highly covet financial advisers since they help expand business and ensure customer loyalty. Other than getting an excellent salary, you also develop a vast social network of people from all walks of life.

#10 Banking Professional

Looking for a steady career in accounting? Go for Indian Banks Personnel Selection (IBPS) and other entrance exams that secure you a position in the top most nationalized banks of India. Banking professional jobs are always in trend. They offer an excellent salary and perks. Usually, nationalized bank jobs provide excellent job security and regular salary, perks and other increments.

Banking professional jobs require accounting experts. Study thoroughly for bank entrance exams and appear for them. With your knowledge about accounting, it can be worth the while and secure you a great career and future.

Useful article: Common Bank Interview Questions with Answers

In Conclusion

As we have seen, accounting careers need not be mundane and boring. Indeed, some of these trending careers in accounting provide sufficient thrill and job satisfaction. All jobs in accounting help you make a great career. Choose one from the list that suits your career needs.

Article contributed by: Garima Pachauri

Video: 6 Trending Careers in Accounting

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Executive Secretary Job Interview Questions and Answers

Executive Secretary Job Interview Questions and AnswersWhen preparing for the interview for an Executive Assistant or Executive Secretary or Secretary or Personal Assistant position, you should be able to convince the interviewer that you have excellent secretarial, organizational and customer service skills. While you should also be prepared for common job interview questions, here are some specific Executive Secretary Job Interview Questions and Answers that you’ll want to make sure you have practiced beforehand.

Executive Secretary Job Interview Questions

( Please CLICK on the Question to reach the model answer, tips and related video)

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Question #1 How do you prioritize tasks?

Question #2 What are your strengths and how will your strengths help you perform better in this position?

Question #3 What do you think will be your main responsibilities, if we choose you?

Question #4 What should be the most important qualities of a candidate to become a good secretary?

Question #5 How would you deal with an angry visitor to office demanding to speak with your boss who is unavailable?

Question #6 Where do you see yourself in five years time?

Question #7 What software packages are you proficient in?

Question #8 What experience do you have with planning meetings?

Question #9 Do you have any administrative experience?

Question #10 As an Executive Secretary, what sort of confidential information you deal with and how do you handle it?

Short Video: Job Interview Questions for Executive Secretary

Executive Secretary Job Interview Questions and Answers

Question #1 How do you organize and prioritize tasks?

Understanding the question

As an executive secretary, one of your main job responsibilities is to help increase the productivity of your boss. You have to organize several things and also perform varying duties on your own and on behalf of your boss. The interviewer is evaluating your skill in prioritizing those duties and how you go about doing so.

Suggested Answer

I have been trained to be a good time manager. For this I use tools like to-do list and sorting tasks between urgent, important and crucial. This helps me to clearly lay out the things I need to accomplish within the given time.

Sometimes I do consult my boss to seek his views and expert advice in dealing with some unique activities and assignments about which I am not very familiar.

Over the years, I have become quite skilled at multi-tasking without losing the quality of my work.

Short Video: How Do You Organize And Prioritize Tasks Secretary?

Question #2 What are your strengths and how will your strengths help you perform better in this position?

Hint to answer the question better

The interviewer is assessing if you have requisite skill set and mental make up to deserve selection for this position.

Suggested Answer

When I read on your website, the job profile of executive assistant, I found my skill set was a great match for the requirements of this position. I would think that my greatest strength is my interpersonal skills. I am genuinely good at interacting with various kinds of persons. It will be beneficial in this position because my boss would be the Head of Customer Service.

Also I am good at time management and customer grievance handling.

Short Video: What are your strengths and how will your strengths help you perform better in this position?

Question #3 What do you think will be your main responsibilities, if we choose you?

Hint to answer the question better

By asking this question the interviewer is assessing your expectations of the job and if the real job profile matches with their expectations of an executive secretary.

Suggested Answer

Based on my experience in the role of executive secretary, every day brings a new set of requirements and unique challenges. Hence I am quite aware that my day to day tasks will vary. However, my main responsibility would always be right hand man of my boss and make sure his work is well organized and productivity never suffers.

Short Video: What do you think will be responsibilities, if we select you?

Question #4 What should be the most important qualities of a candidate to become a good secretary?

Understanding the question

The interviewer wants to make sure you know what it takes to become a good secretary and have most of the specific skills.

Suggested Answer

There are quite a few qualities and professional skills required in a person to become a good secretary. A crucial quality to become a good secretary is the ability to communicate effectively. Since a Secretary’s role requires communicating on behalf of the company via telephone, email and one to one interaction, it’s important that information is passed on correctly and in a professional and timely manner.

In addition to communication skills, organizational skills and time management skills are equally important. It’s vital that the person does not break under the pressure. Rather a good secretary has to stay on top of things and maintain efficiency and order for self and boss and the office in general.

Short Video: What should be the qualities to become a good secretary?

Question #5 How would you deal with an angry visitor to office demanding to speak with your boss who is unavailable? 

Understanding the question

An efficient executive secretary is pleasant and professional when dealing with irate people. This question checks how a candidate will reflect his or her organisation’s values and serve as an effective gatekeeper to the boss’s office – all while diffusing volatile situations.

The interviewer would love to see in the answer:

  • Presence of mind and cool composure even under demanding situations
  • Customer service skills
  • Diplomacy
  • Resourcefulness

Example Answer 

I would make the agitated person sit down and offer him water. While speaking to him calmly and evenly, I would explain to him that my boss is away to a meeting. Putting a positive flavor to the situation, I would politely offer to take a message, reassure them that we will try to find a solution to his issue even in the absence of the boss.

To avoid escalating the conflict, I would give him the option to speak with someone else from the organisation.

Short Video: How would you deal with an angry visitor to office demanding to speak with your boss who is unavailable?

Question #6 Where do you see yourself in five years time?

Tips to answer the question better

Good and loyal secretaries are not expected to be ambitious and dream of promotion. This is because if they get promoted then the organisation will have to recruit another secretary who may take long time to understand the intricacies of the work and imbibe the culture of the company.

It is better to say them that you will be happy to work for them for next five years, doing a good job of a secretary, and enjoying your personal life outside of work.

Suggested Answer

You may try answering like this:

I always make effort to advance my career, skills, and knowledge. Continuing the same habit, in five years, I hope to have acquired more in-depth knowledge of the company and industry. Those new skills will make me a better person, more efficient secretary and help me advance my career.

Short Video: Where do you see yourself in five years time?

Question #7 What software packages are you proficient in?

Tips to answer the question better

Secretarial job requires different combination of skills and competencies and it depends on the needs of the employer.

Therefore, while answering such a question first briefly mention all the software packages which you are familiar with. Then you may describe in detail the particular software and its functions you are proficient in because of regular use.

Model Answer

I am quite adept at MS office, Tally and Microsoft Outlook. I am using MS Word, Excel, PowerPoint, on a daily basis.

Since my boss heads finance department of the company, my job requires thorough knowledge of Excel. I have been creating, modifying and formatting spread sheets to record and analyze the financial data on a daily basis.

Short Video: What software packages are you proficient in?

Question #8 What experience do you have with planning meetings?

Understanding the question better

From the question it is clear that planning meetings is going to be one of the important functions of your job as the executive secretary.

Hence the interviewer wants to ensure that he is hiring an experienced person in you.
Therefore, list out the steps or the procedure you take to set up and coordinate meetings in the office.

Model Answer

I am posted in the Sales and Marketing Department and I am the senior most executive assistant to Chief Marketing Officer. A good number of meetings are organized regularly in the office. There are certain scheduled meetings like weekly or monthly meetings with people at the predefined positions. The second sets of meetings are need based meetings.

My job is to organize and plan all the meetings by fixing the venue, agenda and related documentation. Next I inform the participants and take their confirmation.

I take down the minutes of the meetings, type them up and distribute it among the participants with a ‘to do’ action points.

Short Video: What experience do you have with planning meetings?

Question #9 Do you have any administrative experience?

Understanding the question

Some administrative experience always adds weight to your candidature for the position of a senior level secretary or Administrative Assistant job.

Therefore, you should be ready to share your administrative experience in the current or previous organizations. Discuss the work flow, administrative processes, with some examples.

Model Answer

When I joined my current employer organization, I found that there were no set procedures or guide lines for taking loan for buying car by the employees.

I brought this to the attention of my boss who is Chief of Human Resources Department. He encouraged me to prepare a draft for the car loan policy of the company.

Hence I worked on it and within a week prepared a set of procedures for processing loan application and submitted it to the boss for approval. After consultation and approval with our legal department, it was approved as a part of company manual.

Short Video: Do you have any administrative experience?

Question #10 As an Executive Secretary, what sort of confidential information you deal with and how do you handle it?

Understanding the question

The question is intended to check information both about your loyalty and employer’s level of trust in your ability to deal with sensitive information.

Make sure that your answer does not reveal too much confidential information about the organization. Therefore, speak in general but be convincing.

Model Answer

Because of the confidential nature of the whole subject matter, all I can say is that being in Human Resource & Administration Department (HRD), I am involved in everything from employees’ personal records, future plans and legal matters.

I keep the papers under lock and key and digital records are password protected. Beyond this, I cannot go into details.

Short Video: How you handle confidential matters and information?

How to give a better interview performance?

Probably you are aware that the position of a secretary is one of the most popular jobs among women.

This means that many candidates would apply for the job and there would be tough completion at the interview level. Therefore, you should well prepare and give your best performance at the interview.

Your success in this interview depends on a combination a number of factors such as your qualifications, communication skills and experience so that you are able to create a favorable impression on them. Also please refer to: How To Improve Your Interview Performance.

Types of Questions

Be prepared for a wide range of interview questions asked in a secretary job interview. Use the suggested answers above to help you develop your own excellent interview answers and get the secretarial position you want.

Short Video: Ultimate Tips to Crack Interview

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About the Author

Sundeep Kataria CV MakerSundeep Kataria is the CEO of ACS Consultants – a Management Consulting Firm. He holds multiple qualifications: MBA, PGDIT (IIFT), MS in Counselling & Psychotherapy and Diploma in Company Law. He has also formally learnt Digital Marketing and Website Making.

In 1995 he pioneered the concept of professional Career Counselling, Executive Coaching and Mentoring. Over the years he has mentored many professionals, like CAs, Engineers, Sales & Marketing Professionals, IT Experts etc.

The unique style of Sundeep Kataria is that he connects with each and every individual personally, holds in depth discussion before undertaking the assignment.

 

Undergraduate Courses That Can Lead To High Paying Careers

Undergraduate Courses That Can Lead To High Paying Careers

Often when a student is about to finish his school, he tends to get confused about the undergraduate course he should opt for to make a good career. Several ideas and options cross the mind of the student yet he is usually unable to decide. To add to the problem, there is rising demand for seats in good colleges in the developing countries, but the numbers of seats are limited. Under such circumstances, many young minds get misdirected or frustrated. Keeping this scenario in mind, we bring to you information about some of the undergraduate courses that can lead to high paying careers.

Undergraduate Courses That Can Lead To High Paying Careers

With rapid advancement in technology, there is good demand for various kinds of skills these days. To get a good job, no more you have to study for years to become a Doctor, Engineer or a Chartered Accountant. You can opt for one of the many professional courses which can equip you with necessary skills to start a high paying career.

To acquire such skills you need not go in for usual Graduate Degree, Post Graduate Degree etc. Even a diplomas or short term certificate is good enough to get you started with a decent salary. And if you want, you can start your own business too.

Hence we share below some career choices and related undergraduate education options which are much shorter in duration – unlike a graduation degree and you may find a good job also.

1. Foreign Language Translator

At present, in fast growing economies like India there is a good demand for translators and interpreters. This demand for young translators and interpreters is from local as well Multi National companies operating in India. In addition to the corporate sector, there is also demand from travel companies, 5 star hotels and IT industry for foreign languages experts.

Those who know Spanish, German, French, Japanese, Korean and Chinese will have a bright future because of their expertise.

It is very important to have good communication skills along with a formal qualification in this field. You must have the art of expressing and presenting the message effectively to others. Hence, it can be very beneficial to do a interpreter / translator course in Chinese, Japanese, Spanish, French, German, Russian, Korean, Arabic and Italian etc. for a good career.

After doing these foreign language courses, you can get good job offers not only within your country but also from overseas. In addition to the job of translators and interpreters, you may also be considered for the job of a guide to foreign guests.

You can get a good salary as a translator in a large organization. Talking about Government jobs, there too are some good job opportunities.

Salary / Earnings: the initial salary for this position would be about 40 to 50 Thousand Rupees per month in India (around US $ 8,500 per annum). As the experience, skill and confidence increase, there is going to be a good increase in pay.


Following is a list of top institutes in India which would help you fulfill this dream of yours to become a foreign language expert.

  • Jawaharlal Nehru University, New Delhi
  • Delhi University, Delhi
  • EFLU, Hyderabad
  • Banaras Hindu University, Banaras
  • Jamia Millia Islamia University, New Delhi
  • University of Calcutta, Calcutta
  • Indira Gandhi National Open University
  • Pune University, Pune
  • University of Mumbai, Mumbai
  • Viswa Bharathi University
  • Max Mueller Bhavan for learning German Language
  • Instituto Hispania for learning Spanish Language
  • Alliance Française de Delhi for learning French Language
  • Bhartia Vidya Bhawan for short term foreign languages courses

2. Professional Photographer

For those who are interested in photography, they can become professional photographer after taking admission one or more of the photography courses.

There are a number of big and small institutes in India offering short term certificate as well as medium term diploma courses. Irrespective of the subjects you have studied in the school, you can get admission into these courses and acquire the necessary skills in Still and Motion photography. In addition to photography, knowledge of software such as Photoshop can give a boost to your career prospects.

After 12th grade, students can learn professional photography by taking admission in a variety of courses. The special thing is that this course can make youth of any stream. After 12th, there are many types of diploma courses in photography which can be entered. In addition to photography, knowledge of software such as Photoshop can be taken more and then photography skills can be improved.

To pursue a course in professional photography, it is necessary to have at least 10 + 2 education. The career line photography offers many opportunities, such as fashion photography, wedding photography, wildlife photography, photo journalism, still photography, digital photography, color photography, black and white photography, portrait photography etc.

After doing the photography course, you can apply for a job as a professional photographer in a good company. If you are interested in doing freelance assignments, you can earn good money there too by doing photography for events like parties, marriages, birthdays, family functions etc.

Salary / Earnings: As far as earnings are concerned, it is completely dependent on the type of client and nature of his business. The more the number of clients and bigger the profile of the clients, the more money you will earn. In this profession, while working for a studio or as a freelancer, you can initially earn around 15 to 20 Thousand Rupees per month (US $ 3400 per annum).

Once you start getting recognition in this profession, you can earn millions from your websites, portfolio photography, Ad film shoots, product photography etc.

Considering various undergraduate courses that can lead to high paying careers, perhaps career in photography will require shortest period of formal education.

For more details you are welcome to refer to: Careers in Photography and Videography

3. Fashion Designer

Everyday we see fabrics in new colors and garments in new color combinations hitting the retail outlets. Behind this fashion craze, there is a role of fashion designing. Hence there is growing demand for fashion designers by design houses, clothing brands, boutiques. The demand for skilled fashion designers is likely to grow as we will see more retail outlets, branded clothing, fashion shows and fashion conscious customers in India.

If you are interested in fashion designing and you want to make a create an identity for yourself in the world of fashion, then the career path of fashion designing can take you to the peaks of success.

Fashion designs are influenced by cultural and social behaviors, and fashion keeps changing with time and place. So, there always will be a good scope in the future too.

To get admission in the undergraduate course of fashion designing, it is necessary to clear grade 12 of school with 50 percent marks. Fashion Designing Diploma is one to two years duration. In case you want to earn a post graduate degree then it is necessary to have a graduate degree.

In this profession, you may be hired as a Fashion Designer, Fashion Co-ordinator, Pattern Maker, Quality Controller, Fashion Merchandiser, Fashion stylist, Accessory Designer and Fashion Choreographer in any Export House, Garment Store Chain, Textile Mill, Jewelry House or Boutique.

Salary: After doing a good course, you can apply for a job or even open your own boutique. After doing a fashion designing course, usually a good company dealing in apparels or just fashion designing can pay you Rs. 3,00,000 to Rs. 6,00,000 annually in India (US $ 4,000 to US $ 8,500).

4. Mobile Repairing Experts

If you are interested in the working of modern gadgets and are good repairing them, you may like to make mobile repairing as your career. Apart from normal mobile phones the market size of smartphone is also growing rapidly. Mobile phones are used everywhere – villages, rural areas, big and small towns and metros.

Besides selling their mobile phones, the mobile phone companies also open service centers for servicing and repair of these mobile phones. Naturally this creates a demand for skilled mobile phone technicians or repairing experts.

To make a career in this field, you will have to attend a mobile repairing course after 12th. There are many private mobile repairing institutes like Hi Tech, Britco, Bridco etc. which offer three to five months courses.

After doing this course, you can also apply for a job in a large mobile company and if you do not want to work for someone, you can also open your own mobile repair shop.

Salary / Earnings: At the initial level, your monthly earnings may be around Rs. 15,000 per month ($215). If you are in a big city, this amount can be Rs. 25,000 ($357) per month.  As your experience increases then your salary or business earnings can be double or even triple.

5. Yoga Instructor / Yoga Teacher

The magic of yoga has spread all over the world. Looking at the events organized throughout the world on June 21 as the World Yog Day, it is evidently clear that this ancient exercise form is back. Yoga is not only a means of keeping body and mind healthy but it is a kind of skill that has unlimited employment possibilities.

There is very level of awareness of yoga and its benefits throughout the world. Hence a person skilled in the art and practice of yoga with proper knowledge and certifications has excellent career opportunities. Yoga courses are in the levels of Certificate, Diploma, Degree too Master’s Degree.

Therefore, if you want to make a career in Yoga, then a special training or certificate will be required. The minimum eligibility for such a course is 12th grade with at least 50 percent marks. Basic courses start with of 4 to 6 months. After completing this course, you may find suitable employment opportunities with health resorts, gyms, schools, hospitals and health centers, yoga studios, housing societies, corporate houses.

Now the television channels also offer employment opportunities to the yoga trainers.

In addition to teaching yoga, yoga masters can also work as aerobics instructor, yoga therapist, yoga instructor, personal yoga teacher, therapist and nephropathy practitioner, research officer etc.

Video : 5 Undergraduate Courses That Can Lead To High Paying Careers

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Career Prospects of Interior Designer

Career Prospects of Interior DesignerTo understand the career prospects of interior designer, we have to first understand that what does an interior designer do. The primary work of Interior designers is the design or renovation of internal spaces of homes, offices, commercial places like restaurants, hotels, shops, malls etc. Starting with the basics, the scope of interior designing includes layout designing, structural alterations and goes up to furnishings, fixtures and fittings, lighting and color schemes.

Besides just doing the design of the given space, the clients may hire the services of an interior designer to also combine the efficient and functional use of space with an understanding of aesthetics. This means using the natural resources like the Sun Light and Fresh Air more to reduce the use of electricity for heating, cooling and artificial light.

Career Prospects of Interior Designer

In the following lines is everything you may like to know about a career as an interior designer with relevant details. As a first step, take a look at the typical job profile of the interior designer, if you want to know further you can check out the salaries of the interior designers (in USA, UK and India) at different levels of experience. Going further, you will find the Qualifications and Skills required to become an interior designer and finally the career prospects of Interior Designers and types of interior designers.

Also at the end of this blog is a short video in Hindi with information in English which you may like to watch.

Job Responsibilities of an experienced interior designer

The interior designer may work for a firm of interior designers; firm of architects or have his own independent practice.

In any case as an interior and spatial designer, your job profile may include some of the following responsibilities:

  • Business Development: searching for new projects, bidding for the projects; meeting the potential client; doing the presentation; negotiating and finalizing the deal.
  • Client meetings: to understand the client’s needs and requirements for the project
  • Spade work: conduct feasibility study for project; develop initial ideas often using computer-aided design (CAD) software, produce ‘sample’ or ‘mood’ boards to present to clients
  • Presentations to the client
  • After getting client’s approval, set project schedules and establish final briefs
  • prepare design plans, specify materials and furnishings, such as lighting, furniture, wall finishes, flooring, and plumbing fixtures
  • consider materials and costs according to budgets and discuss project fees with the client
  • Create a timeline for the interior design project and budgets for men and material
  • Survey site or building, prepare detailed drawings, designs, plans
  • source materials, e.g. fittings, furniture, lighting, finishes, decoration and dressing, and provide samples for clients
  • supervise work at site
  • co-ordinate with the team of other designers, technicians and commercial department
  • work closely with quantity surveyors to establish costs and work schedules on larger projects, with architects and other design professionals
  • Visit the site after the project is complete, to ensure that the client is satisfied
  • keep up to date with new developments in the design industry.

On bigger projects, interior designers have to work closely with architects, civil engineers, HVAC engineers and inspection regulations.

Qualifications Required

In US /UK / India usually a bachelor’s degree in the following subjects is a must to be a professional interior designer.

  • architecture
  • fine art
  • furniture design
  • graphic design
  • product design
  • textile design.

The following subjects are preferred:

  • 3D design
  • interior architecture
  • interior design
  • spatial design

Without a degree in above subjects, a person can also become an Interior designer if he has passion, creative flair and solid experience. Of course a Diploma / Certificate Course shall be helpful.

Specifically talking about India, the formal degree is not necessary, though it is extremely helpful to gain an entry as well as to take the career forward. There are many well known and not so well known institutes which offer certificate / diploma and degree level courses with duration ranging from 6 months to 1 year to 2 years to 4 years. The premier institute is National School of Design (NID).

Some of the well known Bachelor’s Degree level courses related to interior design are:

  • BA Interior Design – 3 years duration
  • Bachelor of Architecture Interior Design – 5 years duration
  • Bachelor of Interior Design – 5 years duration (CEPT course)
  • BA Interior Architecture and Design – 3 years duration
  • Bachelor of Design (B.Des.) Interior Design – 4 years duration
  • Sc. Interior Design – 3 years duration

There are many institutes in India which offer these and similar courses of different duration. Some of the well established Institutes are:

  • National Institute of Design, Ahmedabad
  • CEPT University, Gujarat
  • Arch Academy of Design, Jaipur
  • JJ School of Arts, Mumbai
  • College of Architecture, Nashik
  • Exterior Interiors Pvt Ltd, Kolkata
  • Pearl Academy, Delhi, Noida, Mumbai, Jaipur
  • Vogue Institute of Fashion Technology, Bangalore
  • Sai School of Interior Design, New Delhi
  • IILM School of Design, Gurgaon
  • Shri Devi College of Interior Designing, Mangalore

In USA, the National Association of Schools of Art and Design accredits about 350 post secondary colleges, universities, and independent institutes that have programs in art and design. The Council for Interior Design Accreditation accredits more than 180 professional-level (bachelor’s or master’s degrees) interior design programs.

The National Kitchen & Bath Association accredits kitchen and bath design specialty programs (certificate, associate’s degree, and bachelor’s degree levels) in more than 40 colleges and universities.

Salary of Interior Designer

As like any other profession, salaries of interior designers may vary widely and depend on your qualifications, contacts and location. It is possible to command high salary, when you are working with large and reputed firm and are involved with high-profile projects.

UK

Starting salaries for junior designers may fall in the range of about £18,000 to £23,000.

The experienced interior designers can earn between £25,000 and £40,000, whereas the senior designers can reach £45,000+. More specialized professionals such as creative / design directors can earn more than £75,000 per annum.

USA

The median annual wage for interior designers is about $49,000. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $26,260, and the highest 10 percent earned more than $91,230.

India

In India, depending on the type and size of the employer organization and one’s experience level, the salary for fresh / junior interior designers ranges between Rs. 360,000 to Rs.480,000 per annum. For senior interior designers, the salary range can be up to and sometimes than Rs. 900,000 to Rs. 3,000,000 per annum.

Income figures are intended as a guide only.

Career Path and Growth Prospects

Normally at the start of their career, interior designers work for the first five years in learning and acquiring practical experience, besides honing their existing skills and adding to their knowledge.

Typically newly qualified junior designers are assigned to work in a team and under an experienced professional. You are generally given responsibility to work on specific part or parts a project. As you gain experience and the confidence of your seniors, there is an increase in responsibility.

Depending on your performance, aptitude and dedication you are given raise in salary and assigned to suitable projects.

Types of Interior Designers

We live in an age of super specialization. Everyone can’t do everything. This is equally applicable in the field of interior designing also.

Some designers specialize in particular types of interiors of buildings, such as homes, hotels, shopping malls, large retail outlets, offices. Even in homes there could be further specialization such as interior designers for only bathrooms or kitchens; or an interior designer specializing in a particular specific style.

Similarly some designers are employed full time or as consultants for home-furnishings companies to provide design services to help customers choose materials and furnishings as per their taste and needs.

While some experienced and senior level interior designers may become project manager for the client throughout the construction at the site. This can involve coordinating the design on site and managing various construction teams of plumbing, sanitation, electrical, flooring, furniture etc.

Another way of classifying the type of interior designers could be based on the nature of the business of the end client, such as:

  • Corporate designers for offices
  • Healthcare designers for hospitals, clinics, healthcare centers, doctors’ offices etc.
  • Kitchen and bath designers
  • Retail Outlets designers
  • Universal designers

Video: Career Prospects of Interior Designer – Full Details

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8 Ways to Prepare your Students for a Career in eCommerce

8 Ways to Prepare your Students for a Career in eCommerceUnquestionably, E-commerce is one of the most buzzing trends of this digital era! People are heading towards it in mass, whether they are the businessmen or the people who love shopping online. In such a scenario, if the millennials decide to opt for this stream when it comes to their career, it seems to be a smart and wise decision. In such a scenario, if the millennials decide to opt for this stream when it comes to their career, it seems to be a smart and wise decision. Hence we share 8 Ways to Prepare your Students for a Career in eCommerce.

Gone are the days when students used to dream of either becoming a doctor or an engineer. The world believes to be realistic nowadays and so does the young generation who prefer to always follow the trends enthusiastically. So, if your students want to step into the world of eCommerce, encourage and enlighten them wholeheartedly.

8 Ways to Prepare your Students for a Career in eCommerce

Now, the ultimate question which arises is that how should you train such students? I mean, being your pupils, they are completely relying on you to become successful. It’s your responsibility to make the right move so that they get in-depth knowledge which they are desiring to attain.

So, here I am with a rundown of such approaches through which you can make them ready to thrive in the smart sphere of e-commerce.

Here I go…

1. Practical Project: Let the Students Work in Shops

If you want to let your students understand the basic know-how of business, you ought to act very smartly! You must be knowing well that practical knowledge always comes prior to the theoretical understanding. Isn’t it? So, all that you need to do is allow your students to have such an experience.

Just ask them to work in any high street brick and mortar for a certain period of time, say 6 months or 3 months. After that, examine them on the basis of their acquired knowledge in terms of customer patterns, merchandising any product, and so on. This is how you let them understand the basics first!

2. Teach Them the Designing Skills

Your students who are interested in the e-commerce business need to know the art of designing various kinds of mobile apps and websites. You have to inspire them to be creative and have an eye for keenness.

However, when it comes to online stores, user experience means a lot! So, instruct your students where to put the boundary when it comes to designing websites and how to understand the customer’s choice. Sometimes too fancy and overly designed websites might repel people!

Just make sure that you are knowing the current trends before teaching to your students. To make the process easier, you can ask them to subscribe to the newsletters of the top-notch e-commerce brands. In doing so, they will come to know what are the standards.

Next, you can set some exercises for them in which let them redesign and play around with the designing stuff. This will invigorate the creativeness in them!

3. Illuminate Their Telephone Manner

When it comes to e-commerce, marketing and customer service seem to be a couple of most important streams. Now, if he or she is interested in any of these types, an excellent communication skill is a must!

So, you need to brush them up on the telephone manners. As most of the problems faced by the online shoppers are usually resolved by these two sections of people, so the professionals need to be very fluent, active, understandable, and soft-spoken while conversing.

Thus, if your students are trying to make an entry to the customer service or marketing team of any e-commerce business, they need to be smooth in all these qualities.

4. Enlighten Them About Internet and Website Traffic

This is where the technology comes into existence! Obviously, when your students are going to enter into the world of online business, they need to be well-versed about the internet.

So, to land your students in the online world, teach them about the online user behavior, what can drive traffic towards any website, how to calculate the time that users spend on an online store and the list goes on and on and on. Yes, there’s a lot of stuff to do for you!

Also, ensure that you are letting them know the basic principles of SEO which will make them understand how the websites rank on Google. Thus, there’s a lot of technical mastery that you need to teach your students to make them competitive enough.

You can set up a dummy website to let your students understand the process in a better way. Even, installing an analytic package would be a great idea! Especially, when Google analytics is absolutely free and comprehensively used!

5. Teach How to Expand their Network

It is pretty crucial for them to identify a referral contact for one or more target companies. So, you must encourage them to expand their network. The process might be quite tedious for them but it will certainly end up landing them a great e-commerce job. A few of the smartest strategies that you can opt for while letting your students expand their network are:

  • Encourage them to go where the people with similar interests are present.
  • Let your students follow a target company online. It might end up allowing them building up a connection to that professional organization. They must join that company immediately.
  • Let the e-commerce aspirants work like volunteers. For example, if they love dogs and there is a CEO of any e-commerce company present as a board member of the local animal rescue group then be a part of it and help them.

6. Show the Real Meaning of E-commerce Presence

If you want your students to land an e-commerce job soon then there have to be a mutual attraction from both the ends. Hence, your students need to showcase their skills in the best possible way to entice the e-commerce companies.

As they search a relevant job, they need do the following things:

  • Inspire them to write some articles in accordance to the job that they want. For instance, one of the students want to become an e-commerce logistics manager. In such a scenario, it could be a smart approach to let him/her describe the zone skipping ideas that he/she is having. The student can write an article regarding this on LinkedIn or Medium. If his/her writing skills are fair enough then your student might try writing a personal blog.
  • You must make your students understand that speaking out in front of a vital audience is always a smart idea to get noticed. They must do some significant research and prepare a solid and helpful presentation to speak out their words at an industry conference. It will boost up their confidence up to a great extent. You can even record your presentation and post it on YouTube or LinkedIn.
  • Let your student be proactive and smart enough to help an e-commerce reporter out there. Just be a part of the e-commerce trade press and that’s it.

7. Let their Achievements Be Recorded

Allow your students to keep a proper record of their awards and prizes all the time. Most importantly, they must include a mention about them in their resumes too. It will give an extra boost to their applications whenever they will lodge them. It should be your responsibility to make your student’s career bright and let them find the right job. For that, making a note of their achievements is pretty crucial.

8. Get Referrals for Them

This is definitely the truth that a referred candidate is more promptly hired when compared to a traditional one. Hence, it is always smart to try getting some potential referrals for your students from some established sources. It is for sure that a referred candidate will come on board before a significant duration of time than the other ones. Also, it is comparatively a cheaper affair for the companies to hire referred candidates. The more it is an appealing thing for the companies, the more is the chance for your candidate to get hired.

Winding Up

Thus, this is how you can let your students end up working with any premium e-commerce brand very soon! What are you waiting for? If your student are urging to become a part of the entire e-commerce ballgame then just follow these tips while you continue with the coaching process. I am sure your students will keep on adding innumerable feathers in their caps with due of course of time.

And, what else! No doubt, you would be a proud teacher.

Article contributed by: Clara Decker

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Borrowed Money Can Become A Worry For You And Money Lender

Borrowed Money Can Become A Worry For You And Money LenderDid you know that sometime borrowed money can become a worry for you and money lender? When you fail to manage your debt it is not only a worry for you but also for the creditor as well. Therefore, know about the times when you debt can become a worry so that you can take proper remedial measures well ahead of time.

This will ensure that you have a stress free life and clear off you debt effectively and not jeopardize your credit score and history. Moreover, it will make your future loan obtaining process easier.

Recommended reading: Ways To Manage Your Money And Avoid Falling In Debt

The Transaction of Borrowing and Lending Money

You may need money for your business or for your personal reasons and the best resource can be a money lender. It can be a bank, any financial organization or lines of credit. There are so many out there ready to help you but if you are not conscientious right from the beginning such beneficial resource may turn out to be a serious point of concern.

When Borrowed Money Can Become A Worry For You And Money Lender?

Having debt is not bad at all but having to worry for its repayment is certainly not asked for. The best way is not to have excessive debts so that you cannot manage it with your available source or sources of income. If you start to worry about your loan repayment it will not only affect your financial health and credit score but will also have serious adverse effects on your behaviour, relationship with others and even shatter your dreams. Therefore, know when it starts to go over your head to minimize the drastic effects.

The times when you need to start worrying include:

  • When you have to pay more than 20% of your take home income to pay off your consumer debts
  • When you start to make late payments or even have to skip a few payments
  • When you do not know the exact money that you owe to your creditor or creditors
  • When you are refused of further credit from a money lender, bank or even your friends and colleagues
  • When you overdraw your checking amount more than a couple of times in the past one year
  • When are happy to pay only the minimum amount due on your debts
  • When you are compelled to think that it is best to borrow further to pay off your debt
  • When your loan account goes to the collections and you start receiving phone calls from them
  • When you start avoiding mails, phone calls, door bells and even avoid social gatherings
  • When you use credit cards to pay off the monthly bills
  • When you think of utilizing your retirement benefits to pay off your consumer debts and
  • When you have to look for extra source of income and have to take up an extra job just to pay of your debts

Is there a solution to the problem?

However, there is no need to panic when you notice any or all of these signs as there are easy and effective ways suggested in sites such as libertylending and others to reduce excessive debts over time. All you need is patience, plan, diligence and endurance to take up a not-so-smooth path.

Also please read: Debt Management and How to Pay Off Your Loans Smartly

Ways to avoid worry about money borrowed and repayment

Get and provide relief

There are a few simple steps in which you can get relief from your debts and at the same time provide your creditor some hope to recover the amount loaned by them fully or partially, sooner or later.

  • To start with, do not give up hope when you have too many debts
  • Remain positive and make proper plans to get out of debt to repair your credit score
  • Consult with expert credit counsellors for help
  • Call your creditors up to intimate them about your hardships before you miss out on any payments

Discuss with them about your available options to formulate a favourable repayment terms and make sure all agreements are made in writing.

Things to ask your creditor

There are different ways in which your creditors can help you out in these hard times provided you make the right approach at the right time. Things that you can ask your creditors are:

  • Forgive or waive some of your outstanding loan amount
  • Divide the remaining amount into simpler and smaller payments
  • Suspend a few payments
  • Waive any late fees charged and
  • Increase the time to repay the debt

You may also approach a non-profit credit counselling service to prepare a reasonable budget and also help in negotiating with your lenders. At this point you must know that you cannot repair your credit history by paying fees to any so-called credit repair company. It is only you who can repair it by repaying your debts.

Opting for debt consolidation

You may also find other useful suggestions at libertylending or others such as debt consolidation. This is a new loan that combines all your existing debts and often has a lower rate of interest, higher amount and a longer period to repay it back to the lender. This is a very useful strategy for debt management but you will need to pay this loan off as well so that you do not damage your credit score.

Therefore, while considering debt consolidation as your easy way out of the debt trap, there are a few factors that you should keep in mind such as:

  • You may need to change your spending and purchasing habits
  • You will need to reduce credit purchase and leave behind your credit cards when you go out to shop your daily essentials
  • You may also have to take out a Home Equity Line Of Creditor HELOC

Also consider the total interest cost of the debt as it may increase if the payments are spread in small amounts over a longer period of time.

Other ways to follow

To clear off your debt you may also talk to your creditor for a debt settlement but make sure you know about the fees charged for it which is often very high.

Bankruptcy is the last option that will damage your credit score but will surely wipe off your debts. However, this is the last thing the creditor wants as they will lose the entire sum owed by you. It is for this reason creditors often agrees for a debt settlement.

Article contributed by: Isabella Rossellini

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Avoid Some Common Mistakes When Funding Your Retirement

Avoid Some Common Mistakes When Funding Your Retirement

The last couple of decades have seen a number of changes, technologically, economically, or Planning a Funding for Retirement. Pagers and cassette tapes bowed out in favor of smartphones and streaming services, for example. Many employers have also moved away from distinct pension payments to 401(k) s. This has become the norm rather than an emerging trend and is likely here to stay. Ideally, you should be funding your retirement plan using Social Security, your employer’s retirement plan, investments, and your own personal savings. While it sounds simple in theory, there are a lot of ways this could go wrong. Hence we would like to draw your attention to a few important issues so that you can avoid some common mistakes when funding your retirement.

Avoid Some Common Mistakes When Funding Your Retirement

The transition to 401(k) plans is not a bad thing at all, but it shifts the onus of saving for retirement onto the employee rather than the employer. You will be expected to set up a contribution plan that will fund your retirement and help you attain your post-retirement goals. The shifted responsibility makes it imperative that all employees understand what the plan entails, what impact it will have on their future and how they can start working on retirement plans right away. You could be missing out on a lot if you do not fully understand your employee benefits.

#1 Poor Estimation

Your lifestyle post-retirement will not be the way it is now. You will need to understand what your needs and expectations will be in those non-working years and then further figure out how much you would need in your account to support these goals. The US Department of Labor believes that about 80% of pre-tax income is a pretty good figure to have in your 401(k). You might not need as much, or you might need more, but having this as a ballpark figure will definitely get you further along the way to reaching your perfect replacement ratio. You need to have all these things worked out and set in stone to ensure you stay on track.

#2 Not Saving Enough

This is also a very common mistake among professionals- they do not think about retirement until it is too late to, or they do not give it as much importance as they should be. To counteract this at least to a certain extent, a number of employers have put automatic enrollment systems in place for their employees. This has naturally led to increased participation, but the amount put aside through that process is probably not going to be enough to fulfill your personal goals. A typical contribution is anywhere between 3% and 6%. Even with the employer matching the contributions, it is likely not going to be good enough. Your average savings goal should be 15% of your income, as per TIAA. If you add more funds early in the cycle, the compounded growth will be more effective, thus eliminating the need to put in large amounts into savings later in your life.

Recommended reading: Money Management – Big Mistakes Millionaires Do not Make

A very simple but effective action you can take is to ensure that you are maximizing the company match. There are a number of formulas employed for this, some of the typical ones being a straight-up match up to a certain amount, or split contributions where they pay a dollar for a dollar up to X%, and then a smaller amount for the next portion.

#3 Not Understanding the Options Available to You

When you are joining the company, or early in your career, you should go through the benefits documentation and understand exactly what the structure is. You have three choices to contribute to your 401(k): Roth 401(k), after-tax, and before-tax. They are equally viable and you will have to choose one based on your specific circumstances. That said, there are some things you must keep in mind, such as the return on investment you expect in the future, and also the income tax rates you will have later in your life.

Remember to factor in the tax bracket you will ultimately fall in after retirement so that you know whether you should pay taxes then or now. Market outcomes are also difficult to predict, but a rough estimation should be good enough for you to figure out what kind of ROI you will get on your present investments.

You may like to read: How to Earn More Money in Career or Business

#4 Not Taking Risks When You Can

Informed risk-taking is the best way to make big bucks in investment. If you don’t take the appropriate risks and make gambles early in your life while you still can, you might end up with as much in your retirement assets as you would like. Find a comfort zone, a level of risk you think you can take, and then make the appropriate allocations. Remember, the higher the risk, the further the oscillation in your assets from a huge kick in case of profit to tremendous deficits and even possible debt reviews to get some help in this regard, as well in case of losses. Too frequent gambling could also end up affecting your credit score, which is definitely not something you want. Re-balance your stock-to-bond ratio based on how your investments perform, as this is the best way to stay on track.

Please do read: Ways To Manage Your Money And Avoid Falling In Debt

Definitely do your research, because the target date/risk tolerance funds offered by plans may not be in line with your goals. Sure, it is tiring to go through each individual investment, but it is definitely necessary to ensure your portfolio is implemented in a cost-effective manner. Don’t put all your eggs in one basket. Diversification is the best way to ensure good returns on your investments, even if they do not provide any guarantees. Taking on too much company stock can be risky because it puts a lot of your funds into a single allocation.

You may like to read: No money to start a business ?

Conclusion

Retirement means you are your own boss and are paid based on decisions you made much, much earlier in your life. If you don’t start early, you might be harming your future, but remember to avoid these critical mistakes so that your naiveté doesn’t come back to harm you. Informed decisions are the key to ensuring a safe, secure, and smooth future. Feel free to speak to friends, family, and financial experts to navigate these situations, because safety is a must, and there’s no better teacher than experience.

Article contributed by: Isabella Rossellini

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Ways To Manage Your Money And Avoid Falling In Debt

Ways To Manage Your Money And Avoid Falling In Debt LaterDo you know of the ways to manage your money and avoid falling in debt ? Do you know the best ways to manage money successfully so that you don’t end up being bankrupt? It is only by earning huge chunks of salary or staying debt free throughout your life? Is it in the magical formula of investing successfully and hitting it big eventually on stock market? For the first timers, it is so difficult to get to the right answer, but when they will, it will be a bit of surprise for all of them!

Ways To Manage Your Money And Avoid Falling In Debt

Managing money in a successful manner is a primary factor if you want to be successful financially. Try thinking it this way. There are times to come across mid-level job oriented people, who saved a valid amount of money from their income, contributed dutifully to retirement and can retire well as millionaires. Then you have another group of people working high paid jobs with amazing bonuses, end up saving nil and have no way to enjoy a retired life. What’s the main difference? It is right in the money management business. The key towards successful result is not how much you earn but how you save it.

Try Managing Income From The Start

Successful money management always starts with income. Yes, it sounds rather simple but the success key is to spend less than what you earn. It becomes quite tempting to visit a shop or parlor just after the salary has been credited to your salary account, but that’s when you have to hold down your temptation a bit. If you can work this way, you can easily begin saving and investing money successfully. Here, a budget works more like lists of amounts and categories for money. It is more like your monthly guide and plan to help reach your goals.

  • You need to set a particular amount you want to spend in any area. You have to prioritize spending and saving, depending on circumstances and goals and then you have to track spending.
  • This categorization helps you to know the right time when you have to stop spending for that particular category. It will also help you to find that extra room of extra money to be allotted somewhere else, based on requirements of course.
  • Once you have gained complete control over your budget, you can start managing money successfully. If you have taken any kind of loan and are in debt crisis now, you can head to check out debt consolidation reviews to get some help in this regard, as well.

You may like to read: How to Earn More Money in Career or Business

Time For Managing Debt

The easiest way to manage debt is by eliminating as much of it as you can. The first step for that is to stop using credit cards and then work to pay them off. Some debts are quite hard to avoid like buying car or student loan. For example, sometimes you might have to buy a car even when you can’t actually afford it. During such instances, it will be a beneficial deal to shop around multiple dealers to get the best deals on affordable cars with promising interest rates. It helps you to pay off the debt rather quickly.

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The same rule is applicable for student loans as well. You can always head start with refinancing goals for better interest rates. Or, if you want, you can try to pay some more towards loan every month to cover the principle balance and not just the interest only.

There is another unavoidable area of debt available, which is purchasing a house. Well, that does not mean it is a bad form of investment. Always try to catch up with a place you can readily afford and which is located in a good neighborhood. It will help you appreciate its value more, and you might end up getting more when you plan to resale it. You should not go for a mortgage payment, which is over 30% of your income.

Start Managing Your Investments And Savings

It is always stated that you must pay yourself first before applying to building investment and savings portfolio. Primarily, there are two forms of savings. One is termed as liquid savings, and another term is investments.

  • Let’s hit it off with investment first. Investing is a great way to save some bucks as it helps you to earn some money later and increase wealth. If you have very little knowledge about investing ad stock market, always head towards a financial adviser to help you with your investments and management.
  • Well, mutual funds can help you diversify portfolio naturally. However, you need to focus on those with reasonable fees and a good form of return rate.
  • Always remember to diversify portfolio. It means you should never have a maximum investment under one stock only.
  • Furthermore, it is mandatory to invest in various forms of investment types. You should not want all investments to be in any particular area like tech because that section might degrade anytime if the market drops.
  • Investments will prove to be a challenge during emergency and you might have to force out some cash if market is down when you need it. During that time, liquid saving accounts come to the rescue.
  • The savings account under your name should have emergency fund and needs to be accessible easily during emergency. You need to access savings in a fair manner, but you might have to earn a possible interest rate too.

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There are some people with the tendency to store it in financial institution’s saving accounts. Then you have another bunch of people using money market fund, CS or savings bond. This form of money cannot be stated as an investment, but it is more like protection money during emergencies. It is more like an insurance policy.

Follow The Norms Now

The money management services will vary, once you get married. Then you have a spouse and a family to look for as well. So, here you need to be extra careful with money management plans. If the points prove to be difficult, experts are down to offer some help.

Article contributed by: Isabella Rossellini

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Money Management – Big Mistakes Millionaires Do not Make

Money Management – Big Mistakes Millionaires Do not MakeHow to be a millionaire? This is one question which can surely turn heads, and for those who are dedicated to it, there are ways. You do not have to launch an innovative technology company or be a Warren Buffet to do it, but need the right money mindset and a few savvy habits which will pay way to financial independence. So, in order to help the individuals who still keep the dream of becoming a millionaire, here we have rolled up some of the critical financial blunders people tend to make. Money Management – Big Mistakes Millionaires Do not Make. In other words, the secrets of the rich.

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Money Management – Big Mistakes Millionaires Do not Make

The major difference between wealthy and the rest is their ability to control money and not letting the money control them. It is the aimless attitude of many that leads them to make serious mistakes while taking financial decisions. Unless one learns to adopt good money habits as well as a disciplined approach to avoid mistake, the dream of becoming a millionaire will be on the bay.

Mistake #1 Refusing to face the facts

If you are not so smart with numbers, it may be so tempting to cut off yourself from managing finances by ignoring the bank statements or neglecting the need to stay on top of your investments. But, this is not ideal for someone who keeps a millionaire dream. Those with sky-high bank accounts never amass any big bucks by being totally unaware of their balance sheets.

If a person does not have the facts about his or her financial situation, then money will simply flow through your hand like plain water. As a consequence of it, one may fall into bad debts and may end up in a financial collapse.

Some people think that one should be an investment banker to understand the financial concepts rightly but remember the wealthy people you see are not those born bankers with secret know-how. As with any other things, it is gradual learning. If you tend to procrastinate facing money matters by being scared of getting confused, it is high time that you should dive in and master it. Even if you find many things strange out there, ultimately it will allow you to make those key decisions and let you move forward.

Recommended reading: How To Retire Rich

Starting from the very base, the first step is for you to gather all information about one’s bank account, other savings, and also a clear understanding of the inflow and outflow of money (what you earn and what you spend). Once if these baseline figures are available, it becomes easier for someone to understand the current financial position to act as a base for further financial planning. This can also put forth many pointers to identify if things are going to be brighter or not based on the existing situation. Once if you have the facts, it is easier to make thoughtful decisions about what you exactly need to get closer to the millionaire dream.

Mistake #2 Overspending

After owning a business or having some bucks in reserve, one starts to think of cozy lifestyles which the rich can afford. You may probably start visualizing luxuries as like a 5 star hotel accommodation or flying in business class. On the other hand, the wealthy people may be more of down-to-earth than what you may imagine.

National Debt Relief says that millionaires do not usually roam around in expensive cars like Lamborghini s. They may actually make their purchasing decisions more based on their actual need, current financial situations, and the goals to be met. They are rich only because they are good at keeping money and not overspending it. Even with their best budgeting approach, many people still find it tough to keep a tab on their spending habits.

Please do read: Why The Rich Show Off Their Wealth

In fact, if you want to be a millionaire, you should make budgeting a game which must be taken as a challenging affair. It is a game to see how much less you can spend on your groceries or even skip meals out or shopping trips. The key is to understand the nuances of your proper track to being a millionaire.

Mistake #3 Neglecting to adjust finances following a big life event

When your parents pass away or while getting married, people tend to forget about their existing financial status and start to spend blindly. However, if you postpone the process of adding your spouse to the will or canceling the joint account after divorce, you will start to see your bottom line getting a hit soon.

All life transitions come with many different sub-components as emotional, familial, spiritual, logistical, and more importantly financial. The most successful people will understand the fact that each transition one goes through has a serious financial implication and they take measures to plan it well to sustain through these turning points without getting financial harms.

Related blog article: How to Earn More Money in Career or Business

Mistake #4 Wasting cash on paying fees

The major difference between the wealthy and the rest is that the rich always watch where their cash is flowing to, and they effectively protect it by ensuring that none of it freely slips. You may be noticing that rich people rarely get caught for paying their bill late or their checks getting bounced. In fact, you may not even see them carrying a credit card of high interest just because they hate to handle cash.

As a human, it is possible to miss out things. So, the ideal get a rich fix now is to automate your bill payments. As we are bound to overlook the payment of a bill, it is ideal to set an auto pay-out from your account for the recurring bills like a car loan, mortgage, insurance, or credit cards to avoid a late payment penalty.

Recommended reading: How to Use Credit Cards to Your Advantage

The overall idea is to change from the spend more to save more mode if you really want to become rich. Remember millionaires are not into the business of simply wasting money, but they recognize the importance or additional earnings by controlling money to meet the financial goals quicker.

Mistake #5-Less Focus on Savings

There are several ways to save money. Direct savings, systematic savings through investments, mutual funds, provident funds, and many more options are there to save money. Whatever way you take, but you must save, and that is the game turner in wealth accumulation.

Conclusion

The motto must be to save as much as you can. First, save the maximum out of your earnings, and then invest the amount you can, and then finally spend the rest on necessities. That is the most reasonable way to handle money as long as you live and earn. If you succeed to save half of what you earn every month, then you will be close to your goal

Article contributed by: Isabella Rossellini

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