Each question needs to be answered in 200 words. I provided some details to assist with the answer.
1. How would you describe your own personal learning style, and how does it affect your ability to communicate and remain professional in the workplace?
I am a visual learner.
2. Explain one of your goals using the specific, measurable, attainable, relevant, and time-bound (SMART) method. What is one area of strength and one area of weakness of your goal? What can you do to improve the weakness you identified?
One of my goals is losing 40lbs. My strength is working out three to four times a week. My weakness is eating sweets.
3. Explain personal financial management and why it is important to your professional success. What tips could you give to a colleague who may be struggling with personal financial management?
Learning Styles
Another element of personality is one’s learning style. Learning styles define the method of how you best take in information and/or learn new ideas. There are three primary learning styles: visual, auditory, and tactile/kinesthetic.
How to Set Goals
As explained earlier, achieving goals is like climbing a ladder. Imagine that there is a major prize (what you value most) at the top of the ladder. The prize can be considered your long-term goal, and each step on the ladder is a progressive short-term goal that helps you reach the major prize.
Set short-term and long-term goals and put them in writing. Long-term goals are goals that take longer than a year to accomplish, with a realistic window of up to 10 years.
To set a goal, first identify what you want to accomplish in life. Write down everything you can think of, including personal, career, and educational dreams. Next, review the list and choose which items you most value. In reviewing your list, ask yourself where you want to be in one year, five years, and 10 years. The items you identified are your long-term goals. Keep each goal realistic and something you truly want. Each goal should be attainable yet challenging enough to work toward. Identify why each goal is important to you. This is a key step toward setting yourself up for success. Next, identify opportunities and potential barriers toward reaching these goals. Remember Austin’s goal to be a CPA? Austin believes becoming a CPA represents success. It is important to him, and it is a realistic goal that can be reached.
Short-term goals are goals that can be reached within a year’s time. They are commonly set to help reach long-term goals. Businesses often refer to short-term goals as objectives because they are measurable and have a one year or less time line. Short-term goals can be achieved in one day, a week, a month, or even several months. As short-term goals are met, long-term goals should be updated. Just like long-term goals, short-term goals (objectives) must be realistic, achievable, and important to you. They need to be measurable so you know when you have actually reached them.
An additional long-term goal for Austin is to buy a car one year after graduation. Austin has set several short-term goals, one being to save a specific amount of money each month. To do this, he needs to work a certain number of hours each week. He also needs to be specific about the type of car, whether to buy used or new, and whether he needs to take out a loan. The answers to these questions will determine how much money Austin will need to save each month and if the one-year time frame is realistic.
A popular and easy goal-setting tool is the SMART method. SMART is an acronym for writing goals to ensure they are specific, measurable, achievable, relevant, and time based.
Example
S-Specific
M-Measurable
A-Achievable
Keep your goal achievable but not too easily attainable or too far out of reach. A good achievable goal is challenging, yet attainable and realistic.
R-Relevant
Relevant personal goals have meaning to its owner. The goal should belong to you, and you should have (or have access to) the appropriate resources to accomplish the goal.
T-Time Based
Attach a specific date or time period to provide a time frame for achieving the goal.
For example, instead of writing, “I will become a manager in the future,” write, “After attending college and getting work experience, I will become a manager with a top accounting firm by the beginning of the year 2021.” After you have written a goal, give it the SMART test to increase its probability for success.
After you have written positive and detailed goals, there are a few additional aspects of goal setting to consider. These include owning and taking control of your goals.
Owning the goal ensures that the goal belongs to you. You are the one who should decide your goals, not your parents, spouse, significant other, friends, relatives, or anyone else. For example, if Austin goes to college because it is his personal dream to be a CPA, that goal will be accomplished. However, if Austin becomes a CPA because his parents want him to be a CPA, this will not be Austin’s goal and it will be harder to accomplish.
Take control of your goal by securing information necessary to accomplish it. Know what resources and constraints are involved, including how you will use resources and/or get around constraints. If your goal is related to a specific career, identify what is required to attain that career in regard to education, finances, and other matters. Clarify the time needed to reach your goals by writing them as short-term or long-term goals. Applying the concept of locus of control, remember that not every factor is within your control. Therefore, be flexible and realistic with your goals and the time you take to achieve them.
Financial Management
We go to work to earn money. What we do with our money is based on our goals and values. It is difficult to be productive and sometimes trusted at work if an individual does not have his or her personal financial affairs in order. Individuals without a personal financial plan usually have little control over spending, which may result in stress and financial crisis. Creating and utilizing a personal financial plan helps form habits that contribute to the realization of long-term goals and professional success. Personal financial management is the process of controlling personal income and expenses. Income is money coming in. This money may come from parents, grants, scholarships, student loans, and/or a job. While you are a student, your income may be minimal. However, after finishing college, you will begin a new career with (ideally) an increased income. As your income increases your expenses will also increase. Learning to properly handle your money now will make managing your money easier as your income grows.
An expense is money going out or spent. Examples of student expenses include tuition, textbooks, school supplies, housing, and transportation. Basic life expenses include food, shelter, and clothing. Other common expenses are hobbies, entertainment, health care, and loans.
Personal Finances Affect Work Performance
Personal finance affects all areas of life. Finances are important in helping reach the goals you identified in Chapter 1. Personal financial management does not have to restrict your activities. Instead, it is a way to make your financial resources assist you in reaching goals while ensuring a healthy financial future. Now is the time to start making your money work for you by creating a personal financial plan.
Proper financial management includes monitoring your money and keeping your debt under control. It also involves maintaining a favorable credit report by using credit wisely and beginning savings and investment plans. Finally, it is wise to take steps to protect yourself from identity theft.
Many students struggle to keep up with expenses. Although you may currently have a job, your wages may not be very high. Perhaps you are low on cash and have just enough money to get through school.
