The final deadline to file your taxes is quickly approaching, and our new regular contributor, Sarah, is here to share her experience filing her taxes for the first time.

Sarah graduated from the Wilfrid Laurier University business program with a concentration in Finance in 2018. She now works as an Investment Representative in the financial planning industry. Alongside Financial Advisors, she helps manage the money of clients. Through her own experiences, Sarah writes about things pertaining to recent grads, women in finance, and overall health and wellness.

Feel free to say hello and leave a comment or question for Sarah, welcoming her to the Mixed Up Money fam!

As a 23-year-old young adult, I’m slowly taking on more responsibility when it comes to my finances. Among a variety of things, this has included filing my taxes for the first time. Before this year, the idea of filing on my own brought up a lot of self-doubt and confusion. Through my 16 years of education I realized I had more knowledge on the different angles of the triangle than I did of a task that is asked of me every year. After speaking with some of my friends, I knew I was not alone in my questions and misunderstandings, and neither are you if you feel the same. Now that I’ve successfully come out the other side, I’m going to help guide your expectations and make filing seem less daunting because nothing is certain in life except death and taxes. 

What does it mean to ‘file your tax return?’ 

First, we need to step back and get to the basics, like what filing your tax return even means. A misconception you may have is that filing your taxes means paying your taxes for the year. Although this seems logical, it is incorrect. You have been paying taxes all year, whether you knew it or not, with your employer deducting a portion of every paycheck for government taxes and programs such as the Canada Pension Plan (CPP) and Employment Insurance (EI).  

It’s as if you signed up for a free trial of Spotify premium a year ago, the free trial ended, and you have been getting charged a hefty fee every month without realizing. Brutal, I know. This system is beneficial for the government since it receives a steady flow of income throughout the year and a tiny bit more (since benefits to individuals often go unclaimed).  

Filing your taxes entails a comparison of differences — between what you’ve already paid this year in taxes and what you should have paid based on calculations. The difference will either be more money owed or more often for young adults, a refund back to you. Therefore, filing your taxes should be done every year and on time, or you risk additional fees. Although there are amazing programs like TurboTax that do the calculations for you, I feel it’s important to understand the basics of how you calculate your taxes to be sure you are getting the money back you deserve.  

What information do you need to file your taxes? 

The process of filing your taxes starts with finding out how much money you made this year. Employers should issue T4 slips to you for all jobs you held throughout the year. To calculate your total income, sum up all T4 slips in addition to other forms of income you may have had during the period such as EI, certain benefits, and self-employment income.  

From there, the next step is to calculate your taxable income. Did you know that not all income is taxable? This is important to differentiate because certain allowances or non-taxable income will reduce your taxes and may put you in a lower tax bracket. As an incentive to save for retirement, the government has made RRSP contributions as non-taxable. You can find a full list of non-taxable income on the Canada Revenue Agency (CRA) website.  

Once you have calculated your taxable income (earnings minus deductions), federal and provincial tax rates are applied in a tiered system to calculate the taxes you owe. These tiers or “brackets” consist of paying a certain rate on the first approximately $50,000 you owe, paying a higher rate on the next approximate $50,000 you owe, and so on. You can see that with this system, higher-income individuals get taxed at a higher average rate than lower-income individuals.  

The final step of the calculation is considering benefits or tax credits. A tax credit is an amount of money that can be offset against a tax liability and can serve to encourage or reward certain behaviour from the government. You may have noticed the new Climate Action Incentive credit, which was introduced to support the environment if you live in Manitoba, Alberta, Saskatchewan, or Ontario.  

Tax credits come in two forms – refundable and non-refundable. A non-refundable tax credit will only reduce your tax liability to zero; however, a refundable tax credit can provide money back if your tax liability is already reduced to zero. Visit the CRA website for a full list of refundable and non-refundable tax credits available in your province.   

Once you have totalled your tax credits, subtract them from your previously calculated tax liability to get to your final numbers. If you owe taxes, it’s a positive result. If you are due to receive a refund, it will appear as a negative amount.  

What are your options to file your taxes? 

There are many online programs that allow you to file your taxes, such as SimpleTax or H&R Block. Personally, I set up an account with TurboTax and found the software very user-friendly and, most importantly, free.  

These programs can sync seamlessly with your CRA account, and you can file from there. Since the information is pulled from your CRA account, it’s important to log in and make sure that everything is up-to-date, such as your email, mailing address, and direct deposit information. That is how you will receive a refund (if you receive one, that is). If you’re like me and the idea of remembering a password every year is daunting, a nice feature is that you’re able to login using your banking information.  

This year, the date to file is June 1st, 2020, and the date to pay any amounts owed is September 1st, 2020 and can be done online. If you have a tax refund, you should receive it within two weeks if you file online, and eight weeks when you file a paper return.  

How was my experience filing my taxes? 

Overall, I would say that my first filing season went smoothly. If you’re anything like me, your expectations are a lot worse than the reality. You don’t have to be a seasoned CPA to file on your own. Plus, if you’ve already passed up on the opportunity this year, maybe this is the encouragement you need for next year, and the perfect chance to give your poor parents a break. 

The post How to File Your Taxes in Canada For Beginners appeared first on Mixed Up Money.

I recently came across a post on my Instagram feed where a woman described her daily schedule. While showing herself hard at work in an aesthetically pleasing shot, she wrote:

• Work: 7:30 a.m. – 3:30 p.m.

• Second job: 4:00 p.m. – 6:00 p.m.

• Side hustle: 8:00 p.m. – 1:00 a.m.

This woman is working a total of 15 hours plus commuting. All this combined with less than 6 hours of sleep. 

We should have used this work schedule to display the need for increased wages, but instead, it disguised overworking ourselves as drive and a good work ethic. This woman chose this lifestyle rather than out of necessity. I remember seeing the hours and thinking to myself: why.  

This woman is certainly not alone or the sole driver of this damaging display of “hustle culture.”

TikTokers, YouTubers, and Instagramers alike fight to show the most productive morning routine, the busiest schedules, and the most significant announcements. 

Twitter’s favourite, Elon Musk, C.E.O. of Tesla Inc., has perpetuated this idea by tweeting things such as “No one has ever changed the world on 40 hours a week” and if you love what you do, “it (mostly) doesn’t feel like work.” 

The newest trend also portrays a false sense of work-life balance through a quick snap of a face mask or your morning five-minute journal. Because although you work yourself to the bone, you have to make it appear like your life is a stress-free ~oasis~.  

What is “hustle culture”? 

Hustle culture is the recent phenomenon that professional goals should come before anything else in life. It’s the idea that our work should provide us with an incredible sense of pride. 

Other aspects of life are a distraction from the relentless hard work that we must reach to achieve these goals. The greatest hustle involves the greatest amount of personal sacrifice, whether giving up time with friends, other hobbies or even sleep.  

While hustle culture is a recent trend, North Americans have always had a severe case of workaholism. This I noticed when I was travelling Europe. I think most would agree with the initial shock of Europe’s working hours and vacation policies because they significantly differ from our own. Stores close no later than 5 or 6 p.m., restaurants shut their doors for nearly three hours between lunch and dinner, and cities are a literal ghost town come Sunday morning. 

In addition, did you know that Canada has one of the worst vacation policies compared to other developed countries? We’re at the bottom of the pack at ten paid vacation days per year compared to places like France and the United Kingdom that get 30 and 28 days, respectively.  

While we should be narrowing this gap, we’re making it worse. With one in three Canadians saying they have one, the increase of side hustles has added between 14 and 20 hours per week of work on average.

Where did hustle culture come from?

Hustle culture isn’t just increased working hours. It’s psychological to a large degree. Phrases like “Rise and Grind,” “T.G.I.M.,” or “Sleep when you’re dead” are all rooted in this same notion that self-fulfillment comes from work output.  

So, where did these ideas come from? And who are they really benefiting? One writer feels that the tech industry is primarily to blame for starting this work craze during the early 2000s. Companies like Google started bringing aspects of home life into the office to make working easier and keep employees at their desks longer. 

Other company executives caught wind and started replicating their model. Because if they can eliminate reasons to leave work while also tying self-worth to productivity, they can dramatically increase company output without rising wages. David Hansson, the Basecamp co-founder, said, “The vast majority of people beating the drums of hustle-mania are not the people doing the actual work. They’re the managers, financiers and owners.”  

Other reasons for this shift are the rise of self-development books and social media use. Self-development books spread unrealistic and simplified versions of life that can’t work for everyone. At the same time, social media can make a hellish workday off-screen seem like the most incredible and most productive day of your career. Both are not real life and can make people feel demoralized in work and other aspects of life. 

My experience with hustle culture

Over the last few years, I’ve learned first-hand the consequences of hustle-culture on my mental health and well-being. As someone who has chronic health conditions, it’s tough to tie your self-worth to the hours of work you put in a day or how early you wake up. I have found myself countless times feeling less than because I had to rest, take a break, or sleep an extra hour. When I should’ve been loving and listening to my body, I was pushing it too far and preventing it from healing.  

I’ve also noticed an uptick in my anxiety. For example, if I don’t have the perfect morning routine, if I’m not as productive as I’d like to be, or if my creativity isn’t there today — I feel less than. I’d complete eight out of nine things and feel like a failure. So many things that are entirely regular daily occurrences were causing me a tremendous amount of stress.  

On top of all this, I’d find it harder to stay present at the moment. Thoughts racing about upcoming to-dos, whether I’d done enough that day, whether others had done more, or whether I was even good enough.  

It’s incredibly problematic and something that I’m working on. 

Luckily, things have gotten better through personal work and therapy, but it still requires daily work. Reminding myself that self-worth should relate to how I treat people, that it’s okay to rest, and that it’s up to me (and me alone) to tell myself whether I’m doing what’s best for myself. I’m sure I’m not alone in some of these feelings.  

How to shape your own narrative of success 

One woman trying to change how we feel about work during this high-pressure digital age is Grace Beverley. A social media influencer and Oxford University alum turned entrepreneur. 

Read: Screw Traditional Milestones

She was the first high-profile name that I saw talk about the unrealistic working expectations of our time. As a workaholic herself, she’s previously discussed how society shaped her to feel most worthy when she was at her breaking point. She’s now working on challenging these unrealistic expectations for herself and others.  

Grace has a book called ‘Working hard, hardly working – how to achieve more, stress less and feel fulfilled” that I’m dying to read, but I don’t believe it’s available in Canada yet. In the meantime, she has just started a podcast under the same name where she interviews highly successful guests and questions them about their work-life habits to “make our work and home lives more balanced, successful and fulfilling.”

Grace is a great resource. Other things that have helped me are practicing mindfulness like meditation and journaling, talking with my therapist, and daily gratitude. You won’t look back from your death bed and regret working more. Life is way too short to feel less than because you are simply living! Remind yourself of these mantras daily, and soon you’ll shape your own narrative of success.  

The post Why ‘Hustle Culture’ is Incredibly Problematic appeared first on Mixed Up Money.

Finding a side hustle is a popular trend among many Millennials and Gen Zers. It’s a great way to turn a passion or hobby into a source of income, and it opens a lot of doors for networking and padding for a resume. Although it’s a great way to earn more money, it also requires a lot of time to build your brand and connect with companies who are willing to hire you – especially without a ton of experience. 

So, how can you start to freelance, and what types of freelance opportunities are available? Let’s jump into the basics.

How do you start freelancing?

Step #1. What type of freelancing can you do?

There are various ways to freelance these days, including writing, videography, graphic design, web design, editing, and more. Before you jump into any of these opportunities, though, be sure to do your research and see which one is the best fit for you.

Step #2. Consider how much time you have

I always recommend to anyone looking to grow or start a side hustle to consider a realistic amount of time they’ll have to dedicate to this new project. The last thing we want to do is begin to freelance and quickly burn out trying to navigate multiple deadlines on top of a full-time job.

Instead, ask yourself how much time you’re willing to dedicate to this side hustle and run the numbers. If you have an extra 15 hours a week, how long would it take you of those hours to edit one video or write one article? How much time will you spend networking and looking for a new gig? Set a rough estimate of where you’ll allocate your time each week. By doing this, you create a realistic plan for how much work you can take on at one time to stay comfortable. 

For example, if I’m writing a 1,000-word article for a well-known brand, I’ll need to spend a couple of hours researching, an hour mapping out an outline, and then around one to two hours writing the story. 

Step #3. Build a portfolio

Now that you know what type of freelancing you want to do and how much time you can dedicate to your side hustle, the best thing to do is start small. Build an online portfolio that contains any previous work you’ve done that directly relates to what you plan to work on. If you don’t have any content to share, now might be a good time to look for websites or companies willing to accept guest posts or beginner content. 

Typically, I never encourage doing work for free. But – it is challenging to freelance if you don’t have any evidence of experience or past work. When I first started, my portfolio was my own blog. As I slowly began to build clients, it was easier to put together a full-blown site with all of my writing from around the web. My favourite place to build a free portfolio without having to create your own site is Contently. It took me about two years to build a stable network and start building out clients without sending cold emails containing story pitches. 

Step #4. Put yourself out there

Possibly the most challenging task when it comes to freelancing is networking and reaching out to content sites to see if they’re willing to accept your pitch. I had to learn very quickly that out of every ten pitches you send to a company, they’ll likely only accept two to three. Rejection can be scary, but it’s important to remember that it’s normal. 

Specifically, for freelance writing, the first thing you can do when you start pitching is to create a list of contacts that are currently accepting new freelancers. Look at their submission guidelines and become familiar with their editorial staff. Don’t be afraid to follow them on social media and start to build a relationship outside of pitching before you send them an email. Make sure you always submit your pitches to the right person and be clear with your ideas.

Sometimes a short and sweet DM saying that you love their site and are going to submit some pitches is never a bad idea. Most editors love new and exciting ideas and are always willing to look at what comes through their inbox. 

SAMPLE PITCH

Hello [First Name of Editor],

My name is [name], and I am a freelance writer based in [city]. I’d love to share some ideas that I know would be a great fit for [publication].

[Sample Headline 1]
Short description of idea that details the introduction, how you’ll write the story, necessary sources, and interview subjects.

[Sample Headline 2]
Short description of idea that details the introduction, how you’ll write the story, necessary sources, and interview subjects.

[Sample Headline 3]
Short description of idea that details the introduction, how you’ll write the story, necessary sources, and interview subjects.

I currently have bylines in [list of publications], which you can view in my [link to portfolio].

Thank you for your time. I look forward to hearing back.

[Signature]

Step #5. Join networking groups and subscribe to good advice

If you’re new to the world of freelancing, finding a mentor or a group of people who are in the same boat can be very encouraging. You’ll be able to ask questions, determine what other people charge for their services and get to know ways you can improve your style and pitches. 

One of my favourite freelance writers, Abby Lee Hood, has a Bitchin’ Pitchin’ newsletter that you can subscribe to for just $4/month. She shares great advice and shares which pitches didn’t land for her, which is, honestly, very refreshing. 

Bottom line, make sure you do your research to find inspiration in the industry you want to explore and don’t be afraid to put yourself out there. The worst you’ll ever hear is “no” or nothing. 

Price yourself right

Now that you have a plan, a portfolio, and are ready to start pitching more consistently. It’s time to learn how to price yourself as a freelancer. The best way to do this is to ask other people in a similar industry the range in which they charge or to look online for examples. Some publications will state how much they pay writers, and it will be up to you to determine whether that budget is appropriate considering your time and the tax you’ll have to take off your payment. Because yes, you do have to pay taxes on your side hustle. It’s best to save 20-30% of your earnings for tax season.

Ultimately, as you gain more experience and grow as a freelancer, you’ll be able to increase your rates accordingly. But, be sure to never underprice for your experience and time, regardless of the publication. You are talented, and you deserve to be paid fairly.

Good luck!

The post How to Start Freelancing as a Side Hustle appeared first on Mixed Up Money.

Oh, hello there! Welcome to my first post of 2021. I just wanted to say a big THANK YOU if you read an article of mine last year. I started writing for Mixed Up Money in May and have learned so much. 

In 2020 I wrote over a dozen articles. This year, I’m looking forward to sharing more of my personal experiences and continuing to bring simplicity to the complex world of finance while also making it relatable for my female audience. This is something I love to do, and I’m grateful that you’re here. 

From the title of this article, you can probably tell that 2021 has brought many changes to my life already. Although these changes were very spontaneous, I’m feeling good about them. Thankfully, no “buyer’s remorse” has crept in yet. 

If you didn’t know, on Wednesday, January 6th, I quit my job and, on the 7th, I said goodbye for the last time. I’m writing this sentence a little over a week after that day, and it feels like an eternity. 

Since then, I have gone back to school to start a financial planning grad diploma. I’ve learned that I’m someone who thrives off change, and with the static nature of this past year, making some moves felt incredibly exhilarating! 

So, you’re probably not here to learn about the courses I’m taking this semester. You’re here because you want the tea! Why did I quit my job? How did it all go down? Did I plan for this? Am I now struggling with the repercussions? Well, we’ll get there.

I feel that it’s important to share my experiences with other women who could be going through similar situations, but I’m not going to be bad-mouthing my former employer, as juicy as that sounds. There was no major wrongdoing or a specific event; it was just not the right fit. I will be sharing how I was feeling beforehand, how it all went down, and how I’m feeling today. Let’s jump in.

How did it all happen?

I think it’s important to know that I don’t have a lot of work experience. Excluding various retail stints and working eight months at a co-op position through school, this job was my first foray into the “real world.” Could my expectations have been too high? Possibly. Could my dreams for what the future hold be too big? Definitely. But, as a naïve 24-year-old, I’m proud that I see the potential in myself. 

As many recent grads will relate, fresh out of school, I took an entry-level position in the field I was hoping to pursue – financial planning. I’m here to tell you it’s not all glamorous for any college student about to enter the workforce. Very rarely will you feel passionate or stimulated in your first job, and that’s normal. My role was purely administrative – information gathering, form filling, data entering, the whole shebang. I knew that this was not the position of my dreams, I wanted to work directly helping people, but I figured it would provide me with the experience I needed with potential room for growth. 

In total, I was at my job for a year-and-a-half. Over that time frame, I learned a lot about what worked for me and what didn’t. Fortunately, I will be bringing those things into my future job search. Firstly, this was a small company, six people, including myself, with two that worked at a different location. The team would always joke that we took up five different decades between the six of us. In other words, no one was my age. 

Having worked in office environments with people older than me, I always struggled to develop closer bonds with my co-workers. You spend so much time with them, mostly working in an office environment, that those interactions can be a large part of your social life. In addition to the age difference, the six of us had vastly different levels of tenure – with one group joining the company within the last one-and-a-half to three years, and the other being with the company for over twenty. I felt these factors lead to a struggle to relate to one another and ultimately how the office functioned. 

For a while, everything was going fine – the mundane work and varying team dynamic was compensated by flexible work hours, kind co-workers, and an office space that felt more like a coffee shop compared to a cubicle. Fast forward to about a year later, and I started noticing myself feeling pretty down come Sunday night. 

On weekdays, I would come home from work feeling drained and far from the best version of myself to my boyfriend. I feel much different now – less drained, snappy, and emotional, even after an equivalent amount of desk work for school.

A combination of these things led me to start thinking about my next move. I knew that to do what I wanted, I needed more qualifications and would eventually have to hit the books. Just in case, I applied to college programs for September 2020 but later deferred to January 2021, praying that COVID-19 would no longer be with us. When it was ultimately time to decide, I felt it was too risky to leave a stable job during a pandemic, and the idea of online school didn’t thrill me. I hoped to apply again once things had settled down and told myself to be grateful for the job I still had. 

Why did I quit my job in the middle of a global pandemic?

Fast-forward to November 2020, and things started getting a little tense. I’m sure that the ongoing health crisis, subsequent second lockdown, and cold winter played a part. At this point, Ontario was in a full-blown second wave, and my work wasn’t handling it as well as I’d like. We were still going into the office without any real procedures in place. This was hard for me. How do I balance work expectations with what I feel is best for my family’s health? 

In addition to the pandemic, my boss and I were increasingly not seeing “eye-to-eye.” With different expectations, working styles, and communication, I started questioning my place within the company. While these tensions loomed, my role began getting more stressful. If you’ve ever worked in admin before, you know that you’re juggling a million and one things. Ultimately, you’re on the hook if anything goes wrong, even if that thing is out of your control.  

I started getting overwhelmed and crying every day. If I were at work, I would hide in the bathroom and call my boyfriend, feeling completely and utterly alone. Throughout the Christmas holidays, this one work task loomed over me, leaving a pit in my stomach where there should’ve otherwise been turkey and dressing. That’s when I started to think, “Is this worth it?”

My parents were so amazing and supportive, as they always are. They told me to do what felt right and that they would support me if I decided to go back to school for the semester while I tried to get myself back on my two feet. 

How did I quit my job?

After Christmas, with my parents’ blessing, I gave it one more shot. I spoke with my therapist, who recommended I speak with a trusted co-worker to discuss my work happiness. I ended up talking with two of my co-workers on various occasions. Although they were supportive of me and provided listening ears, I didn’t feel like much about my situation was fixable. It was merely the nature of the job and the personalities of the team. 

Finally, after one dreadful morning of crying into my boyfriends’ shoulder, we both said enough was enough. I called my boss up and told him how I felt and that things were no longer working for me. What started as just another Wednesday ended up being the day I quit my job, and like I mentioned, the next day, I had given in my computer and packed up my things for good. It was a crazy turnaround that was terrifying, wild, and exciting all at once.  

What’s next?

Luckily, I was still able to get into the university program that I wanted, and so far, I believe that things have worked out well. Since I didn’t have complete certainty in my plans after quitting, it was not as well-thought-out as I would’ve liked or what I would recommend to others. Although it was a bit rash and emotionally driven, I’m proud of myself for taking some initiative to find solutions. I know that my ability to be temporarily supported by family and put my health first is incredibly privileged and is not available to many. 

If you are unhappy in your job, I would highly recommend taking similar initiatives, because they did make my work life better and maybe would’ve kept me going until I had found a new job, if that was the path I decided. Talk to a trusted co-worker who has some stake in your work happiness. Since most office jobs are remote right now, you’re in a great position to alter your environment for the better. I started meditating throughout the day and would do a minute of breathing on my apple watch before opening an email I knew would be stressful. My days also involved lots of hugs and cat snuggles. 

Although it ended a bit dramatically, your first job isn’t meant to last forever. If you can come out the other side with new experiences and a greater understanding of your future goals, I call that a success. 

The post Why I Quit My Job in the Middle of a Global Pandemic appeared first on Mixed Up Money.

Since the tragic video of George Floyd’s murder was shared for millions on social media, a remarkable outpouring of support has been brought to a long-standing issue. Racism and police brutality against the black population is still prevalent, not only in America but also in Canada and around the world. The uproar from the public has caused many of us to look at our own biases and behaviour and question where we must do better. Not being part of the problem is no longer enough, and we must take steps to be part of the solution actively. 

Among the immense outpouring of support, it’s hard to decipher what is genuine. Many companies have issued statements and have made one-time donations to support the movement; however, it’s unclear if they are committed to creating impactful changes. Sharon Chuter, founder, CEO, and creative director of Uoma Beauty wanted to know the truth. She felt companies making these generic statements were contributing to the problem by resorting to short-term solutions. She called on companies to “Pull Up or Shut Up” – a challenge she coined that involves companies disclosing how they are supporting diversity at the corporate level. 

The #pulluporshutup challenge, otherwise known as the ‘Pull Up for Change’ movement, quickly took off and began putting companies to the test. Specifically, they were asked to disclose diversity metrics – the percentage of black people in corporate positions, the percentage of other minority groups in corporate jobs, and the percentage of women-identifying in corporate positions. The challenge’s goal is to encourage brands to have at least 10% black corporate employees; however, other metrics of diversity were quick to get scrutinized. 

View this post on Instagram

A post shared by PULL UP OR SHUT UP! (@pullupforchange) on Jun 14, 2020 at 2:27pm PDT

The success of the campaign

The campaign has generated a significant social media presence – with the Instagram page @pullupforchange having 125k followers and the hashtag #pulluporshutup generating over 50k posts. But has it gotten the same response from companies? The pressure from social media and the campaign’s message to stop supporting brands that don’t provide transparency seems to be doing the trick. Large and small companies have accepted the challenge including Estée Lauder, Revlon, Ulta, Glossier, and L’Oréal, to name a few.  

Although providing transparency does not improve diversity on its own, it has led to companies’ acknowledgment and realization that they need to improve. For example, Revlon stated: “We acknowledge that we are not where we need to be on diversity and representation at our company…. We will be taking more steps in the coming days, weeks, and months as we challenge ourselves to evolve as a brand, a company, and a community. We can and will do better. Thank you @pullupforchange for encouraging this conversation and holding us accountable.”

Other promises made from the success of the Pull Up for Change movement include the creation of new committees and positions with a focus on diversity, changing hiring practices to ensure racially diverse interview panels and candidates, and starting career path and mentorship programs to help nurture and promote the advancement of diverse talent. 

Why diversity benefits everyone

For years, organizations have released studies on the benefit of a diverse workforce for business performance. Diversity across all facets, such as gender, race, ethnicity, socioeconomic background, and sexual orientation, is proven to increase innovation, creativity, and problem-solving abilities within companies. 

Mckinsey and Company have continuously reported on diversity within corporations since 2014. Their most recent report ‘Diversity Wins: How Inclusion Matters’ was released in May 2020 and shows that the benefits to an inclusive corporate culture are greater than ever. Between their first report to now, the variance in performance between diverse companies and their peers has increased substantially. 

Their newest report followed more than 1,000 companies in 15 countries. They found the case for gender diversity to be strong, and the case for ethnic diversity to be even stronger. 

The Case for Gender Diversity:

• Companies in the top-tier of gender diversity on executive teams experience 25% above-average profitability than their counterparts.

• These numbers are up from 21% in 2017 and 15% in 2014.

• The higher the women representation, the higher the performance. Executive teams with 30% or more women representation outperformed those teams with less than 30%.

• There is a 48% performance differential between companies on both ends of the gender-diversity spectrum.

The Case for Ethnic Diversity:

• Companies in the top tier of ethnic diversity on executive teams experience 36% above-average profitability than their counterparts.

• These numbers are up from 33% in 2017 and 35% in 2014. 

The study argues that increased representation is not enough to see these benefits. Women and people of colour (POC) need to perceive equality and fairness at all levels. Equal opportunities and the ability for advancement must be a priority. Diversity cannot simply be a quota to meet, but something deeply rooted in corporate culture and company values. 

Sadly, even with these published studies, companies have been slow to change. Over the reporting period of six years, female representation on corporate leadership teams has only risen by 5% – from 15% to 20%. More than a third of companies have no women representation at all. Ethnic representation over the same reporting period has only risen by 6% – from 7% to 13%.

We need to do better. The ‘Pull Up for Change’ challenge is not something to be dismissed.

What can you do to push for more diversity in companies? 

As modern-day consumers, we have more control than ever before. We have an infinite amount of choice with our products and services, and online platforms have given us the power to speak up to corporations. With access to both large and small companies across the globe, being non-selective about where we spend our money is inexcusable. We must use these resources to our advantage and support corporations committed to making a difference. Here are a few things that you can do as an individual:

Supporting Black-Owned Businesses 

You can support black-founded and POC-founded brands by following them on social media and substituting for their products. There are many good resources available to search for these amazing brands relatively easily. 

If you would like to support businesses in Canada, check out the Canadian Black Chamber of Commerce page that features a directory of black-owned businesses and events in searchable categories such as restaurants, marketing, and fitness. The Black-Owned Toronto Instagram page is another useful resource with over 50k followers featuring brands across the Greater Toronto Area.  

Inclusive Marketing

Inclusive marketing within businesses is another important aspect of diversity. Consumers of all ethnicities should feel welcomed to use a brand’s products.

Social Media is a great way to decipher whether a brand prioritizes inclusivity in its marketing or not. Companies carefully curated Instagram feeds can show many things. Are they hiring models of all ethnicities? Have they done so in the past or just recently? Are they modifying their products with varying skin colours and religions in mind? We can scrutinize all of these things on a company’s social media page.  

If you want to find companies taking the right steps, make sure you follow social media influencers of all races and ethnicities. Not only are you able to find inclusive brands by engaging in the sponsored content they are sharing, but you are also supporting the influencers’ future endeavours. With a more substantial social media following, these influencers are more likely to get brand deals and grow their business in the future. For a list of 20 Black female influencers making a name for themselves online, see this list by Tomi Obebe.

Researching Large Corporations

Prioritizing diversity in the corporate world is what the ‘Pull Up for Change’ challenge was based on. As was discussed before, the overall industry is not changing fast enough, and BIPOC is not getting the opportunities they deserve.  

If you are looking to work for or partner with a large company, it’s worth researching where diversity falls on their priority list. A useful resource is ‘Canada’s Best Diversity Employers’ annual list from MediaCorp in partnership with the Globe and Mail. The list features the top 100 companies when it comes to support:

1. Women

2. Members of visible minorities

3. Persons with disabilities

4. Indigenous peoples, and

5. LGBTQ+ peoples

If a company scores highly, this could be a good fit for you. If you aren’t sure, before agreeing to a working relationship, ask them what they are doing to support these groups of people within the organization, especially if you are privileged. The more people express this sentiment, the more these initiatives will be discussed within companies. 

Pressuring Industry Laggards 

Companies have had to invest significant amounts of resources in customer service and public relations due to the new reality of social media influence. A single tweet or Instagram comment can both benefit and significantly harm a brand’s reputation. Companies will go to lengths to ensure that their social media presence remains positive, including responding to criticisms.

 If you are unhappy with a brand (whether it be the lack of inclusivity in their marketing, lack of inclusivity in their hiring process, witnessing racial profiling in their stores, or any other negative experience) tell them! I have personally seen the power of social media at uniting a community and creating real change. For example, Anthropology was recently put under scrutiny by past employees who began calling out the company on Instagram. This online backlash eventually caused the company to speak out and make a change.  

We are living in a crazy time where social issues appear to be moving in the wrong direction. Progress isn’t being made fast enough, and it’s easy to feel powerless in the movement. I hope that I was able to highlight how everyone can make a difference. As an individual, your purchasing power is your most influential tool. Use it with intent and take the time to research and support brands that encompass your values. If every person changed their purchasing habits with this in mind, the industry will be forced to change for the better.  

The post How Can You Support Diversity Within Companies? appeared first on Mixed Up Money.

Earning a living means something different to each one of us. For some, it’s about finding a way to make ends meet and for others, it’s making ends meet but wanting the satisfaction of earning more than the minimum. We all want to earn more money. Life is expensive, and debt is exhausting. I will always be that person, wondering if it’s possible to increase my income and take on a new adventure. I’ve been attempting to gain multiple streams of income for years now, and last year, things started to come together. 

For some reason (that I’ll never know because one half of my brain doesn’t share secrets with the other half), I have never written about my side hustles on this blog. But then, the other day, while answering some interview questions about the income I earn through my side hustle, I discovered that this information was pretty cool. Five years ago, I was barely making ends meet, and I was in a lot of trouble financially. Today, I’m able to earn income in several ways.

As you already know, there is a ton of information online about how to make money, and what types of side hustles you can take on, so I’m looking forward to not preaching the tactics I use. But, I do want to share with you the reality that is earning a legitimate income from side hustles. Not to mention, maybe this can help you push through and continue with your earning adventure — or pull back. Because to be honest, it’s an exhausting and mentally draining way to make money. 

How did I make my first side hustle dollar?

In 2015, I started my free blog on WordPress.com. It was terrible. I used a free theme and thought that 300-word blog posts were enough. I remember writing a winning blog entry where I called myself by an anonymous name and aired my dirty financial laundry to the internet. I was incredibly proud of my work. Now, looking back, I laugh very loudly at how pathetic that post was. 

Blogging wasn’t something I ever thought was worthy of value. The reason I started wasn’t to make money, and I never had the intention of blogging or taking it on as a job rather than a hobby. All I wanted was to pay off my debt and get better at money. Ultimately, I was successful. I made very little money that year, but that’s because I didn’t know it was a thing, and I wasn’t concerned about anything other than paying off my consumer debt. 

After paying off my debt and realizing that I wanted to continue to blog, I started to invest a lot more time and money into my site. I finally bought a paid theme from WordPress and purchased my domain. I wrote one blog post every single week and started to create a social media following that for some reason, people were loving. I found the personal finance community and made some fantastic Internet friends, who I’m still very close with today. 

About 11 months in, I started to receive some emails from random companies asking to work with me. They’d ask for links on my website for $100, and I had no idea if this was legal. But, I was intrigued. Someone told me that I could accept the money, but that it would impact my rating on Google if I put in a bad “backlink.” Little 26 year old me had no idea what that meant, so excitedly, accepted her first earnings from blogging. “A stupid link on an old post?” I thought to myself. “Who am I hurting doing that?” 

It felt insane to me that I could make money just by copying and pasting one link onto the backend of my site. I was inquisitive if this was a reliable way to earn an income, so I started to do some more research. That’s when things got real for Mixed Up Money. 

What kind of jobs did I take on outside of full-time work?

At first, I was working with financial companies to spread the word about their apps, bank accounts or products. Being that this wasn’t my full-time income, I felt like I had more control over which opportunities I could say yes to and which ones I could turn down. I promised myself from the very beginning that I would never work with organizations that I didn’t personally use. 

Aside from that, I started to receive a few small requests to do some writing for other websites. After all, writing was what I went to school for, so it felt terrific to put my degree to use. Some of those writing opportunities lead to real part-time contracts. From there, I began my side hustle as a freelance writer. This one idea spiralled into multiple opportunities. If I could write for others, I could manage their social media. If I could run people’s online brand, I could edit their videos or become an affiliate. The options seemed endless. I had a ton of skills I had been working on for free by running my blog, that would seriously help other businesses. 

The roles I’ve taken on as a side hustle include, but are not limited to:

• Freelance Writer

• Video Creator and Editor

• Social Media Manager

• Communications Coordinator

• Social Media Influencer & Blogger

• Affiliate Marketer 

Without my blog, I likely wouldn’t have landed any of these opportunities. Heck! Without my blog, I probably wouldn’t have landed my current full-time position. 

How much do I earn from side hustling? 

In my lifetime, I have earned nearly six figures of additional income working side hustles. It started small, though. In my first full year of side hustling outside of a full-time job, I made only $2,150. But, we all know that for some of us, that’s an entire additional paycheck — or more.

It has taken me five years of working five jobs at a time to earn a substantial income from side hustling. Last year was my highest earning year yet, and that’s mostly because of my part-time work. 

In 2019, I made $40,000 in side hustle income after tax. 

Here is a breakdown of where those earnings come from:

This year, just four months in, I’ve made $15,078 side hustling before tax. 

Here is a breakdown of where those earnings come from: 

What are some essential things to remember about side hustle income?

1. Earning money is like riding a rollercoaster

Although I’ve gotten a pretty good handle on finding a few contracts and partnerships that provide recurring revenue, that isn’t always the case. Sometimes, side hustle earnings can be extremely inconsistent and difficult to predict. Some months are crazy busy. In the financial world, for example, tax season or the holidays can be a hectic time. Summer, on the other hand, has less earning opportunities. 

2. It takes time to find opportunities

For the first few years of attempting to earn money on the side of my full-time job, it felt exhausting. Not only did I not understand my value or the market rates I should charge for specific tasks, but I was also unaware of where to start. Without a network of contacts on hand, it was a constant struggle of looking for the next opportunity. 

3. You need to establish yourself

After getting my feet wet, it became easier to navigate potential earnings. Once you have connections and some references, you are more likely to get other jobs. My first big break as a freelance writer was scoring a recurring role with PopSugar. After that, I had learned more about what editors look for, what kind of stories to pitch, how to pitch, and how long it would take me to pump out content.

4. Your side income should never pull you away from your full-time job

No matter what, you have to remember that your side hustle comes second to your full-time job. Even though it can feel good to have control over your work schedule, side hustling doesn’t offer you benefits or consistent compensation. If you’re overworking yourself or overcommitting to work outside of your everyday responsibilities, you can quickly burn yourself out. Don’t forget to focus on your day job. 

If I had to guess, the reason I’ve been successful in my side hustles are three-fold:

• Money has never been my driving force

• I never felt obligated to agree to a job that wasn’t inspiring

• I am okay giving up my evenings and weekends to work on other projects

Should you have to side hustle to earn a living? Of course not. But, sometimes that extra bit of money each month can lead to a lot less stress and a lot more financial security. If you’re willing to go the extra mile to have multiple streams of income, make sure it’s by doing something that doesn’t cause you more stress than the stress you were already trying to eliminate. Take it from someone who has had to learn the hard way — it’s never worth it. 

The post How Much Can You Really Earn From a Side Hustle? appeared first on Mixed Up Money.

The current pandemic, COVID-19, has barred down on bricks and mortar offices and encouraged most employees to work from home if possible. As an introvert, and as someone who has worked from home for a few years now, I’ve become an expert in separating work from play and also finding different ways to disconnect and wind down amidst a hectic time. 

I’m not someone who typically wants to spend my time in large crowds or at public events, so instead, I often find myself and my family looking for creative and unique ways to stay in and make the most of our family time. 

The best thing about staying at home during non-work hours? The fact that it saves you a lot of money. The best thing about working from home? Finding new ways to maximize your productivity and the opportunity to learn your strengths.

People who already work from home have been sharing their top tips for how to handle this transition on Twitter, and I thought it would be great to share some of those ideas with you.

1. Learn how best to communicate and also how to focus

One of the hardest things about working from home is trying to communicate with coworkers without them reading between the lines. If you’re new to this setup, it’s always good to overcommunicate what you need and also, be open with how you feel. As a boss, it can be tempting to micro-manage given the new circumstances. Try to limit check-ins unless tasks are not being completed. Weekly team meetings are enough in an office space, and so it should be the same in remote life. As an employee, you’re going to feel weird and maybe as though you’re not doing enough. That is normal. You are doing fine.

work from home tips (from an actual pro), a series:

#6. Figure out your working style and frequently take stock of what's working and what's not. For instance, putting on my earphones is me telling my body I'm ready for work even if there's no music. Hack yourself.

— MACKY IS WASHING HER HANDS (@schmurks) March 10, 2020

2. Don’t let anyone tell you how to dress (finally)

The best part of working from home is the casual attire (trust me). Don’t listen to the crazies who tell you to get dressed up to stay home. Unless you have a video call, it’s okay to be comfortable.

I truly can't get over people's stupid work from home advice. "change into regular clothes" WHY TAKE AWAY THE BEST THING ABOUT WORKING FROM HOME??? You absolute losers love management and rules

— Sarah Hagi (@geekylonglegs) March 13, 2020

3. Cut yourself some slack if you have to navigate working while parenting

This is a really unusual situation. It’s particularly unusual if you have to suddenly manage to parent and work at the same time. So, cut yourself and your employees some slack. You don’t have to be perfect, and you don’t have to figure it all out in one day (let alone one week).

It is very difficult to work from home with kids at home. A lot of people will be discovering this in the coming weeks.

— Matt Lane (@MattLaneWrites) March 12, 2020

4. Use the tools available to you. Please for the love of god.

Whether you use Slack to connect with coworkers or the mute button on a conference call, take advantage of these tools. One of the best parts of working from home is that every meeting tends to be more intentional and timely because there are limits to video calls.

With remote work on the horizon for millions of people, it’s crucial that we all remember one very important thing: to mute yourself on conference calls.

— Sophie Vershbow (@svershbow) March 10, 2020

5. Glamour is hereby cancelled until further notice

Do not try to do laundry or other household chores during work hours. Not because it’s not convenient, but because you will absolutely forget you put clothes in the washing machine and it will absolutely stink.

*sitting at my desk, 6 old cups of tea in various molding states around the computer, a half-eaten baby nutrient bar in the wacom pen holder, wearing the hoodie i slept in & 4 tabs open about wood-whittling tools* "sooo you guys wanna work from home eh? lemme give you some tips."

— jon klassen (@burstofbeaden) March 10, 2020

6. “Outfit Mullet” is my go-to look thanks to video calls

If you’re an extrovert, you might feel lonely without the ability to strike up conversations with your co-workers. It’s perfectly normal to embrace your own type of crazy and talk to yourself, your pets, and your wall.

How to work remotely (and not perish) ‍

– Embrace the "outfit mullet": business on top, couch slug on the bottom. You only need to look decent from the waist up for meetings now
– Talk to your pets/yourself. It's not crazy—it's survival
/1

— Dayna Winter Ⓥ (@nicecobra) March 11, 2020

7. You can keep some parts of your typical routine present

If you always shower in the morning or read the news on the way to work, continue that habit. Give yourself that morning commute time to mentally prepare for the day ahead. Routine is great and it is especially necessary when you work from home.

Maintain your morning routine. Make your bed. Shower. If you work out, do that. If you read on the Subway, get up when you would normally and read. Whatever it is, keep doing it.

— kristina monllos (@kristinamonllos) March 10, 2020

8. Remember that not everyone can work from home.

tip your food service people. They can't work from home! and you're an adult. 20% not that bad

— Tameka Alice (@tamekasaysitall) March 11, 2020

Lastly, I’d like to share some of my personal tips for anyone who didn’t get a kick out of the tweets up above.

1. Vitamin D drops are not just for babies. If you are inside, you likely aren’t getting a lot of sunshine.

2. Always make yourself breakfast and lunch and always have water sitting next to your computer.

3. It’s okay to feel unproductive and give yourself small breaks in between tasks – just like you would if you were in an office.

4. Set intentional and productive meetings on Zoom, Slack or Google, but don’t be afraid to set up general “check-ins” and social calls if you feel lonely or isolated.

5. Start your day off by completing a big-picture item and focus on administrative tasks in the afternoon.

6. Give yourself your own deadlines – especially if you like to procrastinate.

No matter what situation you’re in, the best advice I’ve been able to share during this difficult time is this:

Don’t touch your investments and don’t touch your face

— Alyssa Davies (@MixedUpMoney) March 12, 2020

The post The Best Work-From-Home Tips on the Internet appeared first on Mixed Up Money.

Have you ever wished you work from home? You’re not alone. In fact, remote work has become extremely popular in comparison to bricks and mortar work spaces.

But what about the pros and cons this drastic change can have on your budget?

I’ve been fortunate enough to land a position where I work from the comfort of my own home. Through this past two years, I’ve had to find ways to be productive, convince myself to wear real clothes instead of pyjamas (lol) and find a flow that proves productive.

These are all important aspects of the transition from office to remote-life, but the other aspect that many people forget to consider is the financial impact that working remotely has on your budget. I’ve both increased and reduced expenses since making the switch – but where? What about whether or not these budget adjustments make remote work worthwhile? Let’s find out.

You’ll see expenses in your budget increase

Food

After I started to work from home, I quickly realized that our grocery budget increased by around $100/month simply because I was actually eating every single meal from home. Breakfast, lunch, dinner and a couple of snacks was the daily ritual. This change was extremely great for my health, because I didn’t eat fast food nearly as often, but it was also really hard on my budget. I was used to having a really modest grocery bill, but now I needed to learn to find creative meals that weren’t costing an arm and a leg. This increase is always worth it because more than anything, your health comes first. Just make sure you aren’t snacking all day long and can still maintain a good balance.

Coffee

Who knew I would miss our Keurig coffee machine so much? For me, the minute I started to work from home I was actually really missing (some) aspects of the human connection. As a human of the internet, I didn’t want to admit that it was nice to communicate with people on the daily. So, instead of admitting defeat and becoming a hermit, I started to visit coffee shops a few times a week for my social interactions. Not only was it great for my mental health, but it was also a new atmosphere for me to work in on the occasion, and it actually proved to be a really productive space. The problem? It was also super expensive. Recently, I opted for a new French Press and it’s completely changed my world. Be careful you don’t turn this outing into a daily field trip.

Utilities

Once you start working from home, you might find that your electricity, heat, water and probably most likely your internet bills will go up just slightly. It’s obvious that this expenses will increase considering every office pays for these things. The only difference is that now you do, too. Some companies will offset this expense one way or another, but if they don’t, be sure to check out what kind of tax breaks are available for you. In Canada, here is a great form your employer can fill out, that will help you to determine whether you’re able to get any refund for your incurred housing expenses. Obviously, this is all a matter of seasonally based pricing. In the summer, I can totally justify the increased expense, but I have a harder time when the bills start to go up come winter.

Technology

Although you probably hate your Windows desktop at work and despise having to use a computer that blocks you from doing things you really need to do (like download a quick plug-in without IT awkwardly coming in to type in the admin password), it’s free. Yup, sure. That chunky old computer is slow as ever – but it’s also nice to know that if something happens to it, you’re not responsible to fix it. For me, every single time something crashes on my Macbook, I have to take time out of my day to work out any bugs, and I also have to pay for whatever it costs to have it fixed. Same goes with your cell phone. This expense increase is the most frustrating of all. At the speed technology changes these days, it’s tough to ensure you have the best product you need to get the job done. But honestly, I think this is a struggle no matter where you work.

You’ll see expenses in your budget decrease

The dreaded commute

One of the most costly expenses you’ll incur working from an office is transportation. Not only do you have to get there each day, you also have to cover whatever expenses come along with your choice of travel. If you have a vehicle you’ll cover gas, insurance, registration and parking. If you take the train, you’ll have to pay for your pass, and factor in the added time that takes away from your personal life. Some workplaces offer compensation for this part of your budget, but for the most part, it’s all on you to worry about how you’ll get to work on your own dime. Commuting sucks and is what makes working from home my winner, always and all ways.

Clothing

Back when I worked in an office, the dress code policy was pretty strict. You had to wear business casual attire, and that included footwear that wasn’t comfortable in the slightest. Each year, I’d have to buy new clothes that weren’t completely worn out, and also weren’t my favourite what so ever. Now that I work from home, I wear my typical clothing – but have a few professional outfits for the occasional coffee or in-person business meeting. My clothing budget has significantly reduced, and I’ve also been able to clear out a large chunk of my closet. Comfier clothes make for a more productive employee

Entertainment

Part of working in an office means that you’ll likely be invited out to social outings. Whether it’s a baseball team that plays once a week or a department of people that love to go for wings every Friday, these expenses can add up quickly. Working from home, the only social outings I get invited to are video chats to discuss new projects and honestly – love that for me. I’d much rather spend my entertainment budget going to concerts or at the zoo with my daughter because I’m totally that mom now.

Dining out

As I mentioned in the expenses that will increase, on the flip side of food, you’ll see your dining out budget decrease. Less work lunches and more homemade salads are the new reality when you start to work from home and honestly, it’s awesome. This also leaves a bit more room in your budget to dine out with people you don’t get to see as much as your coworkers, like friends and family. Bottom line, this change can be great for the wallet or it can stay the exact same. The choice is yours.

Working from home isn’t for everyone

Anytime you make a professional decision, your budget should be a main factor for the final decision. However, that doesn’t mean it should be the only decision. For many people, these expenses that I found to be frustrating, are enjoyable parts of their life. Many people love hanging out with their coworkers throughout the week, and hey – even on the weekends.

Whichever way you swing it, remote work has its pros and cons. From the lack of social interaction to the benefit of an increased productivity level, you are the only one who can decide if this career move is what is best for you.

The post How Remote Work Affects Your Budget appeared first on Mixed Up Money.

Work is many things. It’s a job, it’s a place for you to express your talents, it’s a second home, and it’s a social environment. One of the best parts of work is that for a lot of us, we will get paid to do what we love. However, for many, the pay doesn’t always reflect the amount of work or time that you put in.

In a millennial money survey, one statistic in particular made me immediately upset. In fact, you probably felt the same. Otherwise you wouldn’t have clicked to come here yourself. The statistic was this:

Men are 14 times more likely to negotiate their salary than women.

But why? Research found one reason women were less likely to negotiate was due to their desire to be perceived as nice and less demanding. Research also found that women were less likely to negotiate with male evaluators due to nervousness.

Well, guess what? We’re done being nice and nervous.

¯_(ツ)_/¯

Negotiating is the key to a successful career

Personally, I’m on my third salaried position. For my first job, not unlike a lot of people, I was thrilled to be making any money at all. So, when my then-boss offered me $42,000 for a management position I figured that was perfect. “You mean, I don’t have to get by on my minimum wage salary?” I thought to myself. Meanwhile, after tax and paying my bills, I had about the same leftover as I did while working in a clothing store. In fact, I definitely made more as a server.

In my second job, I decided I wasn’t going to accept lower than my last position, so I proclaimed that my salary range was $45,000 to $50,000 in the interview process. When the call came in that I was the chosen candidate and my then-boss offered me $48,000 I didn’t even blink. “That’s well beyond what I made before!” I thought to myself. I never thought I would be offered higher than $45,000, so, I accepted without negotiation.

After working there for 3 years and receiving one small raise without asking, I had taken on a lot more responsibility. Therefore, I knew it was time to ask for a raise on my own. It went okay. But, I didn’t receive the raise. So, I started exploring other options.

In my third job, I gave another range and increased my salary to the ideal number, no negotiation needed. However, one area that I did want to negotiate for was vacation days. In my previous job I had 15 vacation days and 12 personal days. Which I now realize made me very lucky. So, when I was told I would only receive 10 vacation days, I negotiated. Although they didn’t increase the days, they did implement a policy allowing an increase after one year of service just one month after I started. Negotiating is important because it helps advance everyone in the organization. But most importantly, because it gives you the opportunity to explain your value and prove that value. But at the end of the day, negotiating isn’t easy.

You’re not alone if you haven’t tried it

In a poll to my Instagram followers, over 60% of my female followers had never negotiated their salary, citing reasons such as a lack of confidence, a manager who was a bully, not aware they could, not wanting to look greedy, not wanting to lose the opportunity.

Feeling ungracious and rude is actually very common for women who are attempting to negotiate for a higher salary. I chatted with Tori Dunlap from Her First 100k to get her advice on the best way to approach this conversation if these fears fall under what may be holding you back from negotiating.

Everyone’s negotiation experience is unique

You never want to assume that when you go in to negotiate your salary that it is going to go the exact way you envisioned in your mind. Because, well, you know what they say about assumptions.

However, not knowing what to expect can leave your confidence a little bit lower than it will need to be. Here are some real life tactics from women that are just like you who have attempted negotiating for an increase in pay.

“Know your worth.” – Half Banked

The best way to build confidence when going into any negotiation is to know your worth—like really, deeply, in your bones know it. When you do, it’s much easier to make the ask for what you know you deserve! To get to that point, start by researching the market rates for similar jobs, ask people in your network for their input on the salary they think would be a fit for your experience and for the level of responsibility, and then get all the pep talks you can before you head into the room to ask.

Take stock of your own accomplishments and whether they line up with your ask. If you can confidently say they do, that’s a really strong foundation for any negotiation.

“Just ask.” – Tiny Ambitions

I once left $3000 extra dollars on the table because I didn’t know there was a range in place for my position, or that I could ask for more money than was being offered to me. It still annoys me to this day that I could have made more money if I’d just known to ask.

Be prepared to hear ‘no’. If you work in a union or salary schedule environment (like me), you have no negotiating power, your salary is what it is. But, that doesn’t mean you shouldn’t prep yourself and be ready to ask for more if it’s an option.

“Consider alternatives to cash.” – Smile and Conquer

Sometimes a raise just isn’t an option. No matter how incredible an employee you are, if your company is struggling then it’s not the right time to ask for a salary increase.

That doesn’t mean you’re completely out of luck. If you know a monetary raise isn’t in the budget this year but you still deserve to be rewarded, then consider asking for a different perk. Maybe an extra few days of vacation, or Friday afternoons off in the summer, or the ability to work from home once a week. Options like that can still benefit your lifestyle without necessarily increasing your income. There may also be room to improve other work benefits. Raises may specifically be off the table but how about an increase to an RRSP matching program or extended health benefits? Such factors may be considered different line items on the corporate budget and have more room for negotiation. 

Being aware of the bigger picture in your company and a willingness to work within that will make you look like a more loyal employee and that in itself is worth rewarding! 

It’s time to get comfortable in the uncomfortable

At the end of the day, you shouldn’t feel defeated if you attempt to negotiate for higher pay and don’t get the ask. The bottom line is that you have taken one step in the right direction and can make the best decision for your career knowing your value and knowing that you’ve tried.

The key takeaways and things to remember when it comes to salary negotiations are to remind them of your value, research the current market rates in your industry, and be collaborative in finding a number that makes everyone happy. You deserve to earn as much as your male counterparts and shouldn’t be undervalued because you weren’t as comfortable having that tough conversation. Getting comfortable in the uncomfortable situations is step one to earning more income in your professional careers.

What have your experiences with salary negotiations been like? Let me know in the comments!

The post Screw This! Men Are 14 Times More Likely To Negotiate Their Salary Than Women appeared first on Mixed Up Money.

Salaries, wages and income — oh my! How does one put a price on time? More specifically, YOUR OWN TIME. How does one ask someone for a certain amount of money, boldly explaining that they can and will exceed expectations for a potential job? Pricing yourself and your abilities are often the most difficult tasks for anyone new to the workforce or new to beginning to market themselves as an individual, freelancer or business.

If there is one thing I always say to encourage those who are about to put a dollar sign on their time, it’s that they always do so with confidence.

You see, if you are a business or a wholesaler, there are equations that make your life much more simple.

Total Cost/Hour = (Fixed Costs + Variable Costs – Materials) / Hours 

Boom. Done.

But what about those of us that aren’t a business? What about those of us that are just us? We have to provide a number, a dollar sign and on top of that — we need to be able to back it up.

First of all, it is essential that you become an expert in your industry. What is the average individual charging for similar services? What are your competitors charging? Although they are your competitors, engage with them. Ask them for their advice. Sharing incomes and pricing models do not harm us as we may think, rather they protect us and advance us as a group. If one of you charges 50% less, the other will have a more difficult time earning an income that they deserve.

Once you are aware of the industry standards and behind the scenes price that others value their own time at, it’s essential to be able to back up that number. Why do you deserve that amount? Can you provide them with numbers, a unique resume or an in-person meeting to share your multitude of ideas? People are willing to pay you if you provide valid reasoning and experience.

It’s always a good idea to have a general idea of your pricing and then adjust that pricing model as necessary. No one project is going to be the same as another. If a business opportunity arrives, be prepared to work around their budget. However, do the research and know what that budget should be. If you aren’t educated and aware of who you are about to work with, you could miss out on a healthy income — or you could shoot too high and miss out on something you were really looking forward to.

Set standards for yourself before going into any meeting or opportunity. What is the least amount of money you’ll accept for your time? What do you plan on asking for? Leave room for negotiation by asking for 10 to 15% above what you would accept. If you are already stretched thin with a variety of contracts, you might be more stringent with the way you price yourself.

Don’t let them shake you down for a limited amount of money — or for free time.

Asking someone with education, experience and the need to make a living financially to work for free is not fair, realistic or appropriate. However, I often give up my time for free, which a lot of people find silly. And trust me… same. But I also find that for me, there are times I can justify working for free. But only because I am financially equipped to do so.

I’ll start by saying that you should never work for free if:

• You “think” this will turn into a paid opportunity

• You’re hurting yourself and others in the industry by bringing down the standard of pay

• You are running a business

• The operation or company you’re working with or for can afford to pay you

But there are also some legitimate and valid reasons why I do work for free (sometimes). Providing my time and services to certain tasks and roles happens quite often. Maybe it’s the Canadian in me, or maybe it’s that I also like to see others succeed. Therefore, if this means I do them a solid for free one time, I can expand my network and in turn, continue my tear through the world of communications and marketing.

Besides never, when is it okay to work for free?

1. To gain valuable exposure and further opportunities

I said it before and I’ll say it again — working my blog as my side hustle has netted me many paid opportunities. However, I spend around 10-15 hours per week (unpaid) to keep up this online resume slayer. When I started this blog nearly four years ago, I was paying off my debt and didn’t feel it necessary to apply pressure or standards on something I enjoyed doing. It was a hobby that has transformed. If I wasn’t willing to commit this time for free and blog without the intent to earn an income, I would not be where I am today professionally.

2. To learn from a mentor

When it comes to valuing my time, one of the ways I value my time the most is by spending any time I am not furthering my financial stability furthering my education. A few times a week, I help coach college soccer and college volleyball. To squeeze this 12-hour commitment into my already jam-packed schedule as a new mom is not always easy, but it is always powerful. I learn about leadership, the sport I am most passionate about and I also provide myself with free time to stay fit and clear my mind. Finding a mentor is one of the best ways to fill your time that you do not use to earn money. Working with coaches has always been my favourite way to earn (without earning financially). You make time for the parts of your life you value most, and some of those parts are what I like to call income-zero-opportunities. Just as you may spend 12 hours a week watching TV or reading books, there are effective ways to better yourself and your abilities.

3. To be a mentor

To learn from a mentor is extremely valuable and I have appreciated every opportunity gained from these relationships. Therefore, in the same way I expend those 12-hours learning from my mentors, I am also guiding the athletes on those teams in the best way I know how — through committing my free time. Literally — free time. Wait a minute. Is that why they call it free time? Holy $hit.

Working for free isn’t something I preach very often. In fact, I tend to preach the opposite. Which is why it’s important to note that on the flip side of things, remember that you are volunteering your time. You decide your hours and how much of your personal time you are willing to give away. Each hour you work for free is an hour that you could be earning an income — passive or not.

Now that I am a new mom, I price my time a little bit differently than I used to. My hours are less flexible, my time is more valuable and any opportunity that I jump on will be one that I am extremely passionate about. Before my daughter, I had a hard time saying no. Now I have a hard time saying yes. You may price your time differently each day, month or year. And you should. Your experience grows, your knowledge base increases and your idea of what suits your working style becomes more clear. It’s hard to be confident when you first start pricing your time, but once you reach that level, it’s honestly hard not to be overconfident.

What are some key indicators for how you’ll price your time or your business? Do you ever work for free? Let me know in the comments! 

The post How Do You Put a Price on Your Own Time? appeared first on Mixed Up Money.