1. Start a blog! – YearToGrow was an idea I had which would serve as an outlet for my ideas, lessons learned, and challenges overcome during this year of incredible change for me. It allows me to organize and write down my thoughts, and at the same time, may actually help someone else in the process! I like that…which is why I really do love to blog (when I have the chance).

2. Keep a journal – I’ve never been one to be “touchy-feely”, and keeping a journal seems like it would be the last thing I would ever do. But my journal is not to vent my daily anger and pain…I use it to make notes of lessons I’ve learned, whenever one happens to come my way. It’s a great way to keep ideas organized, and make sure you never forget them!

3. Participating in forums and blogs – I like to join in discussions on my favorite blogs and forum topics whenever I get the chance. It’s a great way to “get the juices flowing”, to keep your mind sharp, and to stay involved in current events. By leaving comments on blog posts, you get your point across and tell the world that you’re not afraid to get involved. Find your favorite website, and start becoming active on it – not just a visitor to it!

4. Write a mini book! - Of course you can write a book about your life! Maybe your only readers will be friends and family, but who cares? If it’s always been a dream of yours, you won’t be wasting time on writing it! Time is never wasted when you act deliberately. Writing a book – however small or large – brings out the true person in you. It’s difficult to write unless you are passionate about your topic. Putting together a book will help you explore your mind, bring out the artist in you, and will be an accomplishment you’ll never forget!

5. Write letters. - Whether it’s to your grandmother or your childhood sports hero, write a letter to them! Express your appreciation for what they have meant in your lives, and let them know what they mean to you. Write a letter to your Congressional representative. It might sound corny, but it will improve your life by letting these people that you “get it” – that you truly appreciate what they mean to you. Sometimes improving your life begins by improving someone else’s!

Overall, writing can really help you to settle down, organize your thoughts, and make sense of them. This improves your life by helping you to become a more self-aware individual, and it can be really fun at the same time!

But although it can be a bit confusing, to simply let your credit card become “that bill that arrives monthly, with charges that I don’t understand” can be dangerous…and isn’t very financially responsible!

SO…how can you better understand your credit card? Well, you can start by setting aside 20-30 minutes in order to understand how it all works. Hey…maybe if you do this before bed, you’ll simultaneously find a way to fall asleep faster! Here is a list of things to learn about your card:

1. What is your APR? – APR stands for Annual Percentage Rate, which is the “total cost of credit to the consumer, expressed as an annual percentage of the amount of credit granted.” (Source) While it is intended to make the consumer’s choice between credit cards easier, it can actually make things more confusing. Basically, it is a number used to identify the interest rate that you will pay YEARLY. But the actual interest rate that you are charged each month is called the Periodic Rate (APR / 12). For example, if your credit card has an APR of 12%, your Periodic Rate would be 1% (12/12). But you may notice that you are not paying 1% of your monthly balance in finance fees. Why is that?

2. Know how your finance charges are accrued! – The method by which your credit card company actually calculates how much interest you owe each month depends on the company. Regardless, there are a number of ways they do it. Check out this great summary on How Finance Charges Are Calculated on Credit Card Accounts. (PDF)

• Average Daily Balance - The most common method, where interest is calculated daily on the balance for that day.
• Two-cycle Average Daily Balance – Same as the first, but interest is calculated over the previous TWO billing periods.
• Ending Balance Method – Payments and credits to your account are DEDUCTED BEFORE calculating your finance charge.
• Previous Balance Method -Uses the previous month’s balance (before any payments or credits) to calculate finance charges.
• Adjusted Balance Method – Payments/credits during the month are SUBTRACTED from the previous month’s balance BEFORE finance charges are calculated, and purchases/debits are added AFTER interest is calculated. This is the cheapest and most desirable option for the consumer!

Find out which method your company uses to calculate your finance charges! It’s located on the back of your monthly statement, along with a lot more important information about your account. Yes, I’m recommending that you actually READ the small print! Like I said, at least it might help you fall asleep faster tonight!

3. Know your due date! – If you carry a balance on your credit card each month, be sure to know the day your payment is due, and try to have it in the company’s hands at least 2 days prior to the due date. This allows sufficient time for the company to post your payment to your account, and avoids the possibility of those dreaded late fees. Of course, also pay attention to your credit card company’s policy regarding due dates falling on holidays or weekends. If need be, make sure to get payment to them even sooner than usual! These are multi-billion dollar companies…they don’t need your $29 late fee!

4. Know your company’s limits…and do your best to push them! - Want to save a lot of money on your credit card bills? Tired of those late fees every now and then, when your payment is only a day late? Think your interest rate is ridiculously high? Call your company and request better terms! You never know…the (well-timed) threat of taking your balance elsewhere may be just what you need to see your interest rate lose 5-1o points overnight! If you don’t call, you’ll never know!

Of course, the best way to use a credit card is sparingly…and only when you know that you can pay off the full balance by the end of the month. But if you must carry a balance (like so many of us out there), these are just a few things that you should always be aware of. It’s being a good consumer…and GROWING as a person!

1. Don’t get upset – just fix it: I admit…it’s upsetting to slip when you’ve been working so hard to keep up with your goals. But there’s a difference between those who find success and those who don’t; you only find success when you overcome the failures along the way. Just a little piece of advice for you here: everyone slips up! It’s human nature…we’re not perfect. Not even close! So don’t let it get you down when you fall off for a few days here and there. Just recognize that you’ve slipped, and resolve to get yourself back on track. I promise, you’ll be able to get back into your routine in no time.

2. Start a journal: OK, well maybe not a full-out “diary” type of journal, but you should at least be recording the actions you take each day on your way to your goal(s). If you haven’t started already, start it now. Just write a quick blurb about what you did today – there are no rules here! This will help you to see your progress on paper, and give you motivation to keep moving forward. If you’ve slipped, be sure you’re truthful in your journal. Make a note that you’ve been “on vacation” for the last week or so, but that you understand that you need to get back in line and work harder! Once you’ve reached your goal, it’ll be a great feeling to look back at those days you “slipped”, only to get up and keep moving forward!

3. Tell someone else about your goals: If you tell somebody else about your goal, you now have a WITNESS. That is, it’s no longer just a “secret” of yours! You now will have someone else who knows about your goal. If you tell more people, that’s MORE people who know what you’re trying to accomplish. For many, this can be just the motivation they need – to be sure that they don’t embarrass themselves in front of their loved ones, if they never reached the goal they set out for! It gives you more accountability – more than just to yourself, but to others as well!

4. Don’t Break the Chain! - Jerry Seinfeld has been credited for this one. Check it out, set up your calendar, and don’t break that chain!

5. Learn from your mistakes: Be honest with yourself. WHY did you slip up in the first place? What was it that stood in your way?? How can you avoid that same mistake again next time? Remember…failure is a GOOD thing, when you learn from it. Failure is only bad when it’s chronic failure. Until then, it’s just a learning experience. Keep this in mind, and every “slip up” instantly becomes a “lesson” instead of defeat!

(photo source: ollily)

In search of a better way to make such a difficult decision, I found a couple of interesting techniques. I’ll try each one and let you know how it’s worked for me. Maybe you can use one of these methods in your own life! Just think about which one would work best for you.

1. Zero-Based Thinking: It all boils down to this: “If you knew then what you know now, would you still make the same decision?” According to this method, you need to look at your decision with a “20-2o hindsight” mindset. For example, if you’re deciding whether or not to fire an employee, look at his or her history with your company. If you would not re-hire the employee, knowing what you know now, it’s probably the right decision to fire the person.

Look at each situation with knowledge of any history you’ve had with that situation. In other words, learn from your mistakes, and don’t make them again!

2. Is This Me? With this method, you’ll have to ask yourself the simple question – “Is this me?” For each option, ask yourself – and let your TRUE self answer – whether it is for you or not. Check out Steve Palina’s site for more information about this method.

It’s probably my favorite method, and the one that works most effectively for me.

Ultimately, though, I have found that you need to have a certain mindset before you can truly make a difficult decision. Here’s a few things I’ve learned are very important:

• Know this: you’ll never know if you made the right decision. How can you know what your life would have been like if you HADN’T made that decision? What if you chose the other option? Maybe your life would’ve been better, and maybe it would have been much worse. You’ll never know…so don’t assume that you do!
• Look into every one of your options. If you can find a way to compromise, do it. That will usually result in your making the best possible decision with the knowledge you have available to you.
• When you make your decision, follow through with it. I have (regrettably) been infamous for second-guessing myself once I had made a decision, only to quit halfway through. And when I look back on it, I wish I had just “stuck things out” and kept going. If you make a decision, understand the “pluses” and the “minuses” – and commit to following through on your decision, regardless of the minuses that come your way. You’ll save yourself a lot of headache.
• And finally, listen to others’ opinions, but know that YOURS is the most important. Don’t ever let yourself get talked into a difficult situation without being committed to it yourself. This is how lives can be ruined for the future; when decisions are made FOR you, as opposed to yourself making the decision.

You don’t want to regret your decision, but you can’t be afraid to make it. If it happens that you come to regret it down the road, use it as a learning experience. That’s what life is. But chances are, if you follow some of the rules above, you’ll end up making a great decision, and learning from it in the process!