Chapter 2: Manage Time,
Stress, Money, & Yourself
 Everyone today has
to be a juggler,
keeping work and
home things
moving and
organized, or they’ll
collapse.
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Chapter 2 Objectives
Identify aspects of your life that work for or
against your career.
Use your time wisely.
Control your stress by understanding its
causes.
Keep your finances in order and use your
money well.
Make changes to become more productive &
satisfied.
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Sec. 2.1 Assessing Your
Lifestyle
 To upgrade yourself, analyze your patterns
of behavior (things you do fairly regularly
that could be called habits) to see what you
need to change.
 Look for patterns in your
- personal habits
- communication
- organization
- learning
- discipline
- financial management
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Look for 3 ways to improve
your patterns of behavior:
1.
2.
3.
Improve your good patterns.
Minimize unproductive patterns.
Eliminate destructive patterns.
When you’re in good physical
condition, you think better, work
better, look better, and you’ll do
better professionally.
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People can help or hurt you.
 Confront friends who make your
professional life harder.
 Appreciate help from supervisors, coworkers, anyone at work.
 Seek a mentor, who will give you the
benefit of his/her experience to guide
you through your job and teach you
the business.
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Remember….
 Self-improvement is a
life-long process.
 Stay positive about
improving yourself.
 Work on yourself one
step at a time.
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Sec. 2.2 Managing Your Time
 Your business success
will be a direct reflection
of the extent to which
you control your time
and make it productive.
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Time Management
 Nothing stops or slows time,
but
 You can manage time if you:
- get going with planning
- keep going with organization
- stay on track with discipline
- work step by step.
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Two Laws of Time & Work
1. The amount of work that must be done
will be done in the time available.
2. The amount of work that must be done
will fill all the time available.
So, good time managers:
1. Don’t cram too much work into too little
time because that causes a poor result.
2. Don’t allow too much time because then
the job will take too long.
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Goal: Efficiency & Effectiveness
 Efficiency (the amount of energy put into the
production of something compared to what
was actually produced) means you produce
something with little waste or unnecessary
effort.
 Effectiveness (the extent to which efforts
produce expected results) means you
produce what you set out to produce.
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Obstacles that reduce
efficiency & effectiveness:
 Procrastination (putting
off until later what you
should do now)
 Lack of organization
 Distractions
 Lack of effort
 Doing too many things at
once
 Bad work habits
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You Can Beat Procrastination
 Start right now with one small thing.
 Make a plan with deadlines before starting.
 Delegate (have someone else do it).
 List your procrastination habits.
 Schedule short procrastination times!
 Reduce interruptions.
 Plan a reward for finishing on time.
 Push yourself to work a few minutes more.
 Take mini breaks as needed to stay focused.
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Make Betters Lists &
Timetables
 Start each day (or the night before)





by making a “to do” list.
Add deadlines for each thing to be
done.
Build in time for breaks.
List anticipated obstacles.
Work on tomorrow’s list today as
you think of things.
Organize your lists according to
your goals.
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PLAN AHEA
 Planning:
- gets projects started on
time.
- gets things done in the
right order.
- makes sure everyone
knows what to do.
- helps prevent mistakes.
- makes you look good!
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When planning a project,
include:
 A timetable with deadlines.
 A list of everyone involved.
 A list of everything you’ll need to get
the project done.
 Contingencies (alternate plans if
something goes wrong).
 Foreseeable obstacles.
 Agendas for meetings and important
phone calls.
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Then Prioritize!
 Prioritize (rate the importance
of a task) by arranging your
plan or “to do” list so you do
the most important things at
the appropriate time.
 The appropriate time may be
first or last or in a certain
logical order if a sequence of
events will occur.
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Make Meetings Effective
 To avoid wasting time:
- Don’t hold a meeting if an e-mail or quick
chat will do.
- Make an agenda, give it out ahead of time,
and stick to it during the meeting.
- Start and end the meeting on time.
- Keep the discussion on track, even if you’re
not the leader.
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What Wastes Your Time?
What Can You Do?
 Mental or physical distractions?
What are they?
 Multitasking (working on more than
one task at a time)? You can be
efficient only if one task is
automatic, like reading while eating
lunch.
 Bad habits? What are yours? With
what good habit can you replace
one bad habit right now?
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2.3 Managing Stress
 Stress is an uncomfortable &
disruptive mental or emotional state
brought on by an outside influence.
 Stress is normal, but it must be
controlled if you are to be
successful.
 You can manage stress by
identifying its symptoms, its
sources, and ways to deal with them.
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When Stress Happens…
 Physical symptoms: headaches, insomnia,
fatigue, stomach problems, high blood
pressure, heart attack.
 Emotional symptoms: anxiety, depression,
irritability, nervousness.
 Mental symptoms: forgetfulness, confusion,
indecision, daydreaming.
 Social symptoms: distrusting or blaming
others; being defensive.
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Four Sources of Stress
 Change. Divorce, marriage, death, birth,
a new job—even good change can
cause stress.
 Threat. Competition, threat of job loss
or divorce, excess work.
 Internal. The mind presumes the worst
will happen. Alcohol abuse.
 Environmental. Noise, danger, chaos,
temperature extremes.
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The Vicious Cycle
 Stress causes
problems that
cause more
stress that leads
to more
problems that
cause still more
stress…..
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Dealing with Stress caused by:
 Change: Accept the change; calmly plan how to
handle it. Think of it as a challenge that creates
opportunity.
 Threat: Assess the perceived threat’s seriousness;
ask others. Resist.
 Internal: Look for causes such as lack of sleep,
poor diet. Learn to meditate. Consider
psychotherapy.
 Environmental: Talk to your boss. Counter-act the
source if you can.
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Get Organized to Reduce
Stress
 Set reasonable goals; plan
to reach them.
 Manage your time.
 Organize your life’s details.
 Do one thing at a time.
 Admit what you can’t change.
 Limit your workload.
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2.4 Managing Your Money
 Being smart with your money is
important to your personal
success.
 Keep your financial life in order,
and you can concentrate on
your work.
 Money management is a matter
of planning.
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Your Financial Philosophy
 Finance is the science of
managing money and other assets
like a house and car that have
value.
 Follow sound financial principles:
1. Spend less than you earn. When
you borrow money for a house or
tuition, be sure you can afford the
monthly payments.
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2. Use short-term debt to increase your
long-term wealth.
- A 30-year mortgage allows you to
buy a house that should increase in
value over time.
- A home equity loan is a loan
secured by your house’s value.
Invest that money wisely.
- A business loan may be needed to
start or expand a business to make
more money.
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Avoid high interest debt
especially on credit cards.
4. Avoid bankruptcy (the legal situation in which
you admit you cannot pay all your debts on
time) that would ruin your credit, keep you from
getting loans and certain jobs, and mark you as
a financial failure for many years.
5. Make a budget (a set amount of money to spend
on different categories of expenses) to keep
track of your income & spending.
3.
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6. Buy insurance to manage risk. To
avoid financial disaster, insure your
and your family’s health, cars, house,
lives.
7. Prepare to pay taxes. Note on your pay
stub deductions for income tax (a tax
based on a percentage of money
earned) and Social Security. What other
taxes will you pay?
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3.
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Invest to reduce taxes and prepare for your
retirement. Develop a portfolio (a set of
investments) that may contain
- stock (showing your partial ownership in a
company),
- bonds (a company or government’s promise to pay
back a sum of money plus interest over time),
- mutual funds (portfolios of both stock and bond
investments),
- IRA accounts.
Your employer may offer a 401(k) plan and may
match some of the money that you request be taken
from each paycheck to invest.
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Start by Making Your Budget
 Your budget depends on your cash flow projection,
an estimate of how much you will earn & spend.
 Total your revenues (all your income, including tips,
commissions, money gifts, and interest).
 Total your necessary expenses—food, clothing,
household supplies, etc.
 Include an amount for other expenses.
 Add a savings commitment amount.
 The projected expenses are your budget. Ideally, they
will equal your expenses. If not, take steps to see
they do.
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2.5 Managing Yourself
 You’re now in transition (making
a change from one stage of
development to another).
 To make this transition, manage
yourself like you would a
company.
 Build a better you – become a
better person and a better
professional.
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Start Making a Personal
Management Notebook
 Identify in writing ways to make
positive changes.
 Keep track of your selfimprovement plans.
 Give yourself progress reviews.
 Use your notebook your entire
career as you strive always to be
better.
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Include in your notebook:
 Long-term and short-term goals.
- Detail the steps, any obstacles, and
ways you must change to meet each
goal.
 Long-term and short-term timetables.
- Plot time frames to reach the goals,
including changes in yourself.
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 Keep a skills inventory.
- List skills you have, skills you
need to get.
 List your patterns of behavior.
- Write a plan for changing any negative patterns
into positive ones.
 Plan your productivity.
- List ways you can be more productive.
- List obstacles to your productivity, and write
plans for removing them.
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 List people:
- who can help you, stating how each
can help, including a mentor.
- who can hinder you & what to do
about that.
 Plan for personal fitness.
- Assess your exercise program.
- Note any health issues.
 Note advice given & your responses.
- Don’t be defensive; do consider it;
get a second opinion.
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Chapter 2 Summary
 Identify aspects of your life that work for or
against your career.
 Use your time wisely and productively.
 Control your stress by understanding its
causes & learning ways to cope.
 Keep your finances in order and put your
money to good use.
 Make strategic changes in your life to
become more satisfied and productive.
McGraw-Hill
© 2005 The McGraw-Hill Companies, Inc. All rights reserved.