Do For Two Years...



Adam Carroll
Author, Financial Educator,
Business Owner


One of the pieces of advice I’m fond of giving is do for two years what most people won’t do, and you’ll be able to do for the rest of your life what most people can’t do. 

It sort of begs two questions:

        1.  What won’t most people do?

        2.  What can’t most people do?

Answering the first question takes a little more explanation than the second, so I’m going to take them out of order.  It doesn’t take much brainstorming to make a detailed list of the things that most people can’t do.

They can’t --

take extended vacations, take lots of time off, spend serious quality time without being distracted by money, work, the to-do list, etc., do everything they want in life while they’re still young enough to enjoy it, drive their dream vehicle, invest for the future, own their home outright, own vacation homes, get to visit vacation homes, start a business, financially help their neighbors, church, or family.  The list could go on and on...

The bottom line is that the majority of things that people can’t do are almost entirely related to their ability to pay for these “luxuries” without it seriously affecting their lifestyle.  However, by answering the first question -- “what won’t most people do?” we can uncover what it takes to make nearly all of the items on the above list possible.

So, what won’t most people do?

To put it simply, they won’t live on less.  Parkinsons Law states that our expenses will generally rise to meet income.  For most Americans, this is true.  If we made $50,000 last year and will make $60,000 this year, our expenses will somehow work their way up to the $60,000 mark (if not higher). 

Living on less requires working with a spending plan and sticking to it.  It requires one of those things that everyone struggles with -- delayed gratification.  I often tell people in my programs -- “you can have everything you want in life, you just can’t have it right now.”

People won’t drive a less-than brand new car when it makes little financial sense to finance a vehicle for 7 years that depreciates 30% when you drive it off the lot.

People won’t save first and spend last.  They do the exact opposite and then wonder why they have no money in the bank when they need it.

Listen, I’m a huge fan of living the lifestyle you were meant to live.  I believe it wholeheartedly.  That being said, I’m not a fan of living that lifestyle for a year and then being so completely upside down with your finances that everyday is a struggle.

Just think about what you’re willing to do for two years, and then knock it out.  You’ll be amazed what most people can’t do, all the while you’re doing it.

Other things you can do for two years:

1.  Live with a roommate (or multiple roommates) to save money on expenses to pay down debt. 

2.  Drive the same car you’ve been driving for the past several years.  Trust me, the new car smell smells all the sweeter when there’s no payments.

3.  Work a second job somewhere that’s fun and rewarding.  Use that money to payoff/paydown debt faster. 

4.  Make taking your lunch a habit and going out for lunch a treat.  OR, eat lunch at home everyday and spend your lunch hour imagining what it will be like to be completely debt free.

5.  No movie buying -- only renting from redbox or netflix.

6.  See if you can buy almost everything you need (outside of food and clothing) from Craigslist.  Slightly used!

7.  When you eat out, eat with a coupon -- You’ll easily save $15 with buy one get one offers.  Put that money towards your debt load.

The reason most recent graduates are broke from go is they are over leveraged on the debt side.  They borrow money at a break-neck speed for four years (or more) and then sit back and accept the fact that they have 10-15 years to pay them back.  Instead, be the person that “does for two years what no one else will do” and live the life you’ve imagined!

Insights from New View - Young Professional Blunders in the Workplace

Everyone makes blunders during their professional careers.  As a young professional, you will be more susceptible to making mistakes due to your lack of experience in the workplace.  Nobody intends to mess up, but it is inevitable to happen so it can be helpful to learn from more “seasoned” young professionals so that you can avoid the same pitfalls.  Below are some actionable insights from the New View board members early career mishaps that are an opportunity for learning and growth in your career.

Don’t talk about it, be about it – Chris Wood, New View Board Member

My two biggest mistakes that I made early in my career was trying to do every task on my own and was confident to the point of being perceived as a know-it-all.  The reason that I tried to do every task on my own was because it seemed more efficient to complete tasks by myself.  I wanted everything to be done the “right way” which can be translated to “my way.”  It didn’t take long (about 6 months) to realize that less work can be accomplished going solo.  Also, it was alienating me from the team and wasn’t an effective way to develop my leadership skills.  The other mistake, an over abundance of confidence, was coming across to my co-workers as me trying to be a know-it-all.  I was quick to talk and very slow to listen during my first year of employment.  My manager was able to identify these mistakes and consistently coached and mentored me.  In addition, he taught me to be less competitive and showed me the value of working on tasks as a team.  He reinforced his coaching by using quotes and sayings as reminders.   “Don’t talk about, be about it” was his favorite phrase and it was a simplified aggregation of all of his training.  The saying stuck with me and is now my mantra that I use in my career as well as my personal life. 

Get agreements in writing and document important conversations.  – Brad Phillips, New View Past Chair

When I was running my old business, I made an agreement with a very large (Fortune global 500) company to produce a film.  We had a written agreement for the production and a verbal agreement that they would purchase 10,000 units after production.  We produced the film, with our budget relying on that large purchase at the end.  The film was finished in September, 2008.  Because of the economic downturn, the company had a freeze on purchases and backed out of the deal, costing me 6-figures.  If I had it in writing they wouldn't have been able to back out.  Getting large deals like that in writing is imperative, for smaller deals or even discussions; get it in writing, even if it means just using e-mail.  Whenever we have a discussion with an underwriter we do it through e-mail, and then we NEVER delete our e-mails.  That way if they gave us bad advice, we have proof of it.  We also take religious notes about our discussions with clients.  We document what they want changed on their policy and request large changes to be in writing.

Be prepared for the Interview – Melissa Heikes, New View Board Member

I went to school at University of Northern Iowa for Elementary Education. I knew that with every fiber of my being that I was meant to be a teacher and that there was no way I could not get the first job I interviewed for. All it took was passion and a desire to help kids to learn and be successful, right? WRONG. 

I was working as a Teacher's Associate at a local elementary school and it was my first year out of college. I was building relationships and getting to know the people within the school. I received the call that I was going to be interviewing for a teaching position. Again, how could anyone turn away someone with SO much passion and a love for teaching. Well, it is easy to turn down someone that literally has no clue as to how to impress interviewers during an interview. I am the prime example. 

There I was, in front of the principal and three of my peers. They were interviewing me around the table and asking me questions that were simple questions (if you prepared for the interview). Questions about curriculum and how I would manage a classroom. Questions that would seem obvious to prepare for... I dropped the ball. Not only had I just failed my first interview, I failed in front of my peers. How embarrassing?!

There is some good that came from this: I learned my lesson. When called for a second interview I prepared. Not only did I prepare, I was the second runner up for the position, beat out by a former teacher from within the district.

This is what I learned and how I prepared:

1. Practice interviewing with someone you know. 

Type up interview questions and answers so that you can become familiar with typical interview questions and how to answer them. There is a lot of information regarding typical interview questions online. 

2. Do your research!

• When preparing, get to know the company. Call people you know that may have information. I called a former professor and she gave me some great advice about district curriculum and where to find resources that could help me for my second official interview.
• Research on the internet. You can find out so much information with just the company's website. Understand their values, successes, history, etc. All of this shows the employer you are interested in their job/organization.

3. Dress for Success

Dress for the job you want. This means that even if you are interviewing for a mail clerk position to get your foot in the door and you eventually want to work your way up to upper management - dress that way! First impressions are key! It takes an employer 7 seconds to determine if they want to move forward with an interview. They could be checked out before you even start!

4. Maintain Eye Contact

Eye contact shows confidence. Don't stare them down but be sure to maintain eye contact in a professional manner. 

5. Speak Clearly and Positively

Never say anything negative about a former employer, co-worker or supervisor. This is a bad reflection on you - no matter the situation.

6. Always have Questions Prepared

If you do not have questions, the interviewer will get the impression you are not interested. I always suggest to have 5 or more questions prepared in the off chance they answer some of your questions during the interview.

7. Find out the Next Step

When does the company plan on making a decision? This helps to give a timeline of events. If you don't hear back by the time designated, feel free to follow up with the person who interviewed you. (Good idea to ask for a business card as well!)

8. Send a Thank You

So many people miss out on this opportunity. It is important to send a thank you as it reiterates your interest in the company. It is also a good idea to reemphasize your qualifications within your Thank You. Handwritten is always nice but an email will suffice!

Follow these steps and I am sure that you will be more successful in your next interview. Just don't make a fool out of yourself like I did. Just because you are a likable person doesn't guarantee you the job. Whereas, if you are a likable person that has prepared for the interview your chances increase tremendously!

That’s not my job… - Lindsey Mathews, New View Chair

I went to college and earned a degree. I felt as though that meant there were certain tasks in the workplace I would not have to do...unload a dishwasher, make coffee, clean up conference rooms.  In the beginning of my career, there were many times I wanted to say "that's not my job," but I never have. Unless it's something I'm really unqualified to do or cannot do for a good reason, I refuse to use that phrase.  Picking up slack or lending a helping hand in the office is what makes a team player and that's an invaluable quality in an employee for any organization.

These are just some of the experiences from our New View Board.  I'm sure you've had some of your own.  Feel free to leave any thoughts or tips in the comments section of this blog.  Who knows, we may reach out to you for a guest blog on blunders to avoid in the workplace!