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The Other Epidemic Of Obesity

The Other Epidemic Of Obesity
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It’s high time business slimmed down and stopped fooling itself with crash ‘diets’ of job cuts and outsourcing
A real "fat cat"

The media are happy to keep reminding us that people in the developed world, especially the United States, are growing ever fatter; that obesity starts in childhood and continues thereafter to pump itself up on a diet of junk food, sodas, and ‘super-sized’ portions.

Yet what we almost never hear about is the exact same process going on in our businesses. Here it’s not junk food that is the problem, it’s junk activities and the ’empty calories’ of time wasted on things that have no real bearing on business success.

Just like many overweight individuals, business also has its diet fads — few of which ever work for more than a short time. When the bloat gets big enough to squash profits, organizations rush to shed jobs and cut back on ‘soft targets’ like training and research. For a while, the panacea was outsourcing overseas — until that got too expensive.

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All these fads tackle the symptoms, but never the underlying cause. It’s just the same with individuals in their working lives. They ‘fatten up’ their schedules and working days with empty calories: activit amounts of time while producing little or nothing of any real use.

Corporate ’empty calories’

What are these productivity and time wasters? At a corporate level, they include endless meetings and PowerPoint presentations, which waste time both in preparation and delivery; providing reports no one reads and statistics nobody uses or understands; preparing budgets that conceal the truth and quarterly figures that do the same; dreaming up projects and initiatives that spawn countless working groups — until they are dropped like all those before them; engaging in petty, inter-departmental feuds and internal warfare; the endless rules and regulations dreamed up by head office types seeking to justify their existence; and — worst of all — spending money asking external consultants to provide options and answers to problems that are totally the responsibility of in-house management.

Most such corporate ‘junk food’ emanates from the executive suite. Like the real stuff, it ‘fattens’ the organization — demanding resources, time, and energy — while providing nothing to further the business. Much of it is only there to satisfy some person’s lust for power, or provide ‘information’ to justify a piece of blatant self-interest. It’s intake without any healthy nutritional value in business terms.

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The outcome is sluggish, bloated, top-heavy organizations addicted to the sweet indulgences provided by eager consultants, busily fattening their pay-checks on ‘busy work,’ while distracting managers from the fact that they need to shape up, slim down, and start doing what they are paid to do — and doing it themselves.

Individuals and their bloated calendars

It’s not simply corporations that become addicted to ‘binge eating’ on useless activities, followed by crash diets of lay-offs and budget cuts. Individual managers do it as well, alternating between adding to their overwork and taking up the latest productivity fad to try to slim down again afterwards.

For such individuals, empty calories include notorious time-wasters like constant Instant Messaging; sending useless e-mails to everyone imaginable; calling pointless meetings to provide the illusion of being in control; continual micro-management (for the same reason); demanding that people check-in constantly — even when there is nothing to report; and running from meeting to meeting, convinced that a packed schedule indicates importance, when all it proves is that they rarely devote any time to their real jobs.

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Corporations filled with people like this find that the number of managers constantly rises (all these activities demand more and more people to keep them going), while those who do the real work are ‘thinned out’ to pay the cost of management bloating.

Productivity means never wasting time on what doesn’t matter

At every level, the simplest way to drive up productivity is to remove waste. Don’t spend time on what isn’t relevant to the business. Don’t apply energy to what doesn’t matter. Don’t allocate people and resources to activities that contribute nothing to the objectives of the business. Don’t add to red tape, dream up new ways to enforce compliance with petty rules, demand useless statistics, or massage the egos of those at the top.

People who genuinely lose weight know there is only one way to do it: by cutting back on their intake of calories and increasing the amount they exercise. Everything else is useless.

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It’s the same for business and working individuals: cut out the ’empty calories’ that clutter up your schedule. Increase the time you spend exercising the responsibilities that matter. Stay right away from expensive, heavily advertised junk foods peddled by consultants.

If you do that, your career will be healthier, your calendar will slim down to a surprising degree, and you’ll start enjoying your work again. After all, carrying all that extra weight around every day is tiring in itself, while massaging the boss’s ego is pretty disgusting work — especially compared with spending time on your real interests.

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Last Updated on July 20, 2021

Financial Freedom is Not a Fantasy: 9 Secrets to Get You There

Financial Freedom is Not a Fantasy: 9 Secrets to Get You There
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Have you ever considered your life now, and how it would be if you had more time to spend with your family and less worries about money?

Nowadays, financial stress is one of the most troublesome weights in life. If you’ve ever encountered financial stress, you know the difficulty of not having enough income to pay your obligations or bills.

Many people say that money is not the ultimate goal of life. While that’s true, money certainly plays a very significant role. The meaning of financial freedom changes with the different phases of our life, but ultimately, it is something that many people strive for.

In this article, we’ll explain how to capture that financial freedom you’ve been looking for. Read on to learn the secrets to financial freedom.

Break Free of Your Finances

Financial freedom is about having a constant flow of cash from your assets to cover all your regular needs.

When you are not worried about your income, or living paycheck to paycheck, you gain a great sense of freedom. It’s the freedom to be obtain and do what you truly need to make your way through everyday life.

Gaining financial freedom, though, is a process of growth, making small improvements and gaining emotional strength.

Though it seems hard to believe, it is really very simple to get financial freedom.

To do so, you simply need to make sure that your assets exceed your liabilities. In other words, you’ll need to find the sweet-spot where your residuals meet or surpass your expenses. This is something that you can achieve with the proper plan.

While not every person will accomplish financial freedom, the potential for anyone to do so is certainly there. Anyone can achieve this success, regardless of their income level.

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Outlined below are 9 secrets that will help you in your goals of achieving financial freedom.

1. Stop Unnecessary Spending

We often spend money inwardly, instead of objectively.

For example, you may spend when you’re anxious, depressed, restless, exhausted, from fear of missing out, or to please others. This is a very unhealthy way to handle your finances.

To stop this habitual spending, log down all your spending over the course of a month.

Just as some people keep a food diary, keep an expense diary. Remember not to just write down how much and what you spent the money on, also include the circumstances of why you spent the money. Was it an impulse buy at the checkout line or was it something you planned to purchase?

This increased self-awareness could enable you to avoid triggering situations in the future when you are considering an impulse buy.

2. Plan a Monthly Budget

This is a great opportunity to get serious.

Take a seat with your spouse or partner and make a monthly budget based on your income, not your expenses. You are never again going to spend more cash then you have on hand.

Overspending is the thing that led you to more financial obligations. Make sure you decide every month what is coming in and what will be going out and stick to that budget… no matter what.

3. Cut-up Credit Cards

Perhaps you are the type of person who always pays your credit card balance in full before the end of your billing cycle, and enjoys the reward points you gain. If this is the case, then you’re already way ahead of the game.

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If not, you may want to consider ridding your life of the burden that credit cards bring.

Many cards have strategies set up so that if you make a certain number of late payments, they will raise your interest rate much higher. This can really add up in the long run and you won’t be doing your financial situation any favors. If you’re prone to late payments or have a large balance due on your cards, cut them up!

Without proper self control on credit card spending and payments, you are basically throwing your money away. To ensure that you have better control over your spending, use only cash or debit for all future purchases (and don’t forget to pay at least your minimum payment on your cut-up cards each month!).

4. Increase Savings

There is no doubt that for a comfortable retirement you must accumulate satisfactory savings throughout your working life.

It’s good practice to save up to 15% of your income.

Start with your workplace 401(k), if you have one. If not, a Roth IRA (if you are eligible) or a traditional IRA (if you are not eligible for the Roth) are the next logical steps.

Increase in longevity means you might be able to look forward to 25 to 30 years in retirement, or possibly even significantly more. Investing now in good retirement plans will ensure that you have a guaranteed a stable monthly income when the time comes to stop working. [1]

5. Invest Wisely

Consider investing in funds.

Specifically, you will gain higher returns if you invest in different types of mutual funds such as Debt funds, Equity funds and Hybrid funds with a proper balance, although it absolutely relies on your personal preferences and sense of risk taking.

To get the most of these benefits, make sure you are investing in a variety of assets. Another resource of investing in mutual funds is SIP (Systematic Investment Plan) where you invest some money every month in funds. SIP works by averaging the per unit price of the stock.

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Mutual fund investors are aware of the benefits of an SIP (Systematic Investment Plan). For one, it is the most secure way to invest in equity mutual plans so that wealth is created over a long period of time. This plan also helps you to gain a better sense of financial discipline, which will come in handy in all your financial endeavors.

6. Invest in Gold

There isn’t really a better way to invest in gold than to have the physical gold itself in your possession.

You can purchase gold coins and bars from mints as well as from coin dealers and other private sellers.

Another way to invest in gold is through ETFs (Exchange Traded Funds).

These are is similar to mutual funds but they are exclusively investments of gold. ETFs are great because they offer more liquidity; the ETF owns the actual physical gold, stores it, and retains the value of the shares. These shares can then be bought and sold in the stock market, and one big benefit is that the transaction costs of gold ETFs are much lower than the that of physical gold.

With its consistently-increasing demand, investment in gold can be very wise long-term investment to make.

7. Stash Emergency Funds

Whether it’s a cash gift or a work bonus, always try to save any extra money that comes your way rather than making unneeded purchases.

If you get paid every other week, you’ll get an “extra” paycheck (three rather than the usual two) twice a year. Either save those paychecks towards your emergency funds or utilize the money to pay down other obligations, such as loans, credit cards or other debts.

Make it hard to get your cash.

Put your savings in an alternate bank, maybe an online bank that forces you to delay for several business days before transferred money hits your regular bank account.

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8. Find Fabulous Mentors

Find a mentor, such as a friend or family member, who has exceptional control over their finances and pay attention to everything they do.

If you do not have any friends or family that are enjoying financial freedom, then find a mentor online! There are numerous blogs and guru websites featuring the advice of many people who have reached financial freedom, and they exist primarily to let you in on how to achieve it for yourself.

There are also plentiful forums available that share tips and tricks on how to best achieve financial freedom. Read as much as you can and start changing your habits for the better.

9. Be Extra Patient

Patience is the key of financial success.

Being patient can be quite tough, especially when you’re struggling with your finances, but having faith is worth it. You’ll continuously be on the right track if you are taking the proper steps above.

So don’t be discouraged, even if you are only saving a few dollars a month; it all adds up. Within just a few years you’ll look back proudly at your accomplishments and be glad that you had the patience to get there.

Financial Freedom for All

Anyone can achieve financial freedom, regardless of their financial circumstance.

Use the tips provided above to get yourself on the track to financial freedom and toss your monetary concerns out the window. If you wish to achieve a life with financial freedom for yourself and your family then you must adopt a disciplined approach towards your finances.

Following the simple secrets above is a great start to making your money work for you, so you can work less and live more!

Featured photo credit: rawpixel via unsplash.com

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Reference

[1] Hartford Gold Group: IRA Retirement Accounts

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