Category Archives: Tips, advice, and hacks

Money Talks: 6 Personal Finance Tips

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One of the challenges of the proverbial “real world” is learning how to manage your money. Expenses mount, loan payments loom, and you’re just trying to get by without doing any major damage. I get it. I’ve been there — heck I am there.

So I put together a few basic personal finance tips from around the internet for you. Most of these are common sense but they’re worth repeating because they work.

Obviously, I’m not a financial adviser and everyone’s situation is different so take this list for what it is — a friendly reminder to look at your own habits and figure what works for you. If these articles and pieces of advice can help you get there, all the better.

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1. Set up a budget and track it — Knowing where your money is going is crucial in plugging holes and maximizing spending/savings. Mint.com is a great way to create and track a budget. They walk you through the set up process and do all of the tracking for you — piece of cake!

2. Prep for paying loans — Thinking about student loans can be intimidating, but a little prep can go a long way. Knowing how much you owe, understanding your payment schedule, budgeting for your monthly payment, and making early payments when possible, will make your life much easier and get you out of debt faster.

3. Sign up for a retirement plan  — if you landed a job and haven’t signed up for the 401(k), 403(b), or retirement savings plan offered, hustle down to HR right now to find out how. This article explains how a 401(k) works, why it’s important to think about retirement now, and how you can benefit from your company’s match. (If you’re not working or your company’s plan isn’t right for you,opening your own Roth IRA may be a great option.)

4. Build your own credit — You hear warnings about “bad credit”, but what you may not know is that sometimes having no credit can be just as challenging. Start building your credit now. Opening a credit card (and paying it off in full each month), paying your student loans on time and having your name on other bills (electric, water, cable), are all ways to build credit.

5. Start a rainy day fund — We covered retirement savings in #3, but you also want to build a fund for emergencies like unexpected medical expenses, a layoff, car repairs, etc… Your savings account can also be used to save for big purchases like a vacation, attending and giving gifts at weddings, a new car, etc… This article gives you 9 easy steps for building up your savings account like setting a goal, automating deposits to your savings account, and making worthy sacrifices.

6. Pack your own lunch — This is my personal addition to the list. One way I’ve saved money since graduating is packing my lunch each day. Going out to lunch and/or buying your coffee instead of making it at home adds up quickly — five days a week times $10-15 per day totals to $200-300 dollars in a month. Bringing my own costs less and, as an added bonus, forces me to make healthier choices. It also makes going out to lunch a fun break from the norm instead of business as usual.

So there you have it, a few tips for getting your personal finances in tip-top shape.

Farewell, Derrick! (and 3 Tips for leaving a job)

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As the old adage goes, all good things must come to an end.

My Afterword partner, Derrick Dubois, is leaving the UVM Foundation to pursue his lifelong dream of becoming a pilot.

He’s off to the Aviation Technology Program at Vermont Technical College which, in partnership with the Vermont Flight Academy, offers the only pilot certification/licensure program in the state of Vermont.

I’ll miss my partner here on the ol’ blog, but I’m really happy for Derrick. He’s making his dream a reality — which is not always an easy thing to do. To send him off, we made one last overly dramatized Afterword video for you:

And in true Afterword form, Derrick and I put together some tips and lessons learned from his experience to share with you.

3 Tips for Transitioning out of a Job

1. Give appropriate notice – once you’ve accepted a new job, a grad program, or whatever your next step may be, be sure to give your current employer notice of your departure. Work with your direct supervisor to decide on an end date and communicate that date with the rest of your organization.

2. Wrap it up – take stock of the projects and programs you work on. Set ‘hand-over’ meetings with those who will take over (whether permanently or temporarily) for you. Make sure important files are saved on shared drives so they can be accessed by your successor and share any instructions and log in information that needs to be passed on before you leave.

3. Keep in touch – leave the lines of communication open when you leave. Be available to answer questions or help locate a file or contact for your old colleagues and the person who takes your place. You never know when you’ll need your old colleagues.

Farewell, Derrick. Don’t be a stranger…

— Ryan

Get off the Pile: Cover Letters

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This week on Get off the Pile, we consulted our favorite HR expert, Andrew Flewelling. Andrew has a graduate degree from UVM and he is the Senior Director of Human Resources here at the UVM Foundation. (2015-ers, you might remember Andrew from last year). Today, Andrew is talking about how to write stand-out cover letters.

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Cover Letter Basics

When it comes to cover letters, the most common mistake I see is that the applicant merely restates what their resume says. I CAN read, so there is no need to make a sentence out of a bullet that is listed on the next page.

Instead, a good cover letter is one that does my work for me. It clearly articulates why the position is of interest; and illuminates the skills and abilities that make the applicant special.

It’s great to talk about a few (2-3 max) examples of success. Bonus points if the applicant can quantify the success (% increase, overall sales, maximized efficiency by x measure, etc…).

What Makes a Cover Letter Stand Out?

The letters that really stand out are the ones in which the applicant takes their experiences, skills, and successes, and synthesizes them for me, highlighting their direct and/or transferable nature for the position they seek. The best letters demonstrate that the writer knows enough about the position to be able to overlay their own skills on what we are looking for.

Tips for Writing a Stand-out Cover Letter

1. Keep it to one page. And be aware of the formatting — dense, long paragraphs in eight point type is not the way to go.

2. State the important. In the opening paragraph mention the position applied for and where the listing was posted. In the rest of the letter discuss what the position requires (skills, characteristics, temperament, values, etc.) and demonstrate/prove that you possess those requirements.

3. Mix it up. Use a good mixture of short declarative statements and longer, multi clause sentences to make sure the letter flows.

4. Be Yourself. Don’t be afraid to inject a bit of personal passion. Depending on the position, it may be appropriate to articulate your understanding of the importance of the position to the company, industry, society overall. You should also be able to articulate why the position is important to you.

5. Read it out loud. Hearing what you’ve written aloud and having others hear too will help you catch mistakes or missed references.

6. Proofread to perfection. Grammar, spelling, and punctuation are non-negotiable deal breakers.

Whoops. Introduction to the Class of 2016, Part 2

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Hi Class of 2016!

So…you are all receiving emails from us at the UVM Foundation and Alumni Association with links to original, fun and informative blog content every week right?

Dwight Meme

We JUST realized that only half of your class has been receiving emails about our posts each week. Don’t ask why — it’s really dumb, so let’s never speak of it again.

To make up for our mistake, here are some important links to everything you have missed so far.

We know this isn’t the best introduction, but we hope you will find this blog useful and will return when you actually receive our weekly emails.

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Sam Jedrey

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Class of 2016 Check In Survey - this summer

Zach Zimmerman

 

Join us each week for new and helpful content to guide you through the often confusing first year out of school. As recent alums, we know that the struggle is real!

Hang in there and see you next week!

Ryan & Derrick

 

Get Off the Pile

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At Afterword, we work to find tidbits of advice that will help you in the “real world” after UVM. Getting noticed during the job interview process can be a challenge — so we reached out to two alums who hire and find jobs for people to see if they had any advice for you. Because, it can be hard to get off the pile.

Enter our newest series on the blog: Get off the Pile.

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Today, Dani Peck ’12 and Noah Nielsen ’10 share some helpful tips. Noah has worked in New York City and built relationships with hiring managers and vendors to connect people with amazing career opportunities. And Dani has worked at Keurig Green Mountain Coffee, Inc. for several years and has held many roles in the career and communications realm.

Here’s their advice for getting off the pile:

  • Get to know your connections — It’s frustrating when people are trying to network with you and just send a resume with a note saying something along the lines of ‘can you put in a good word for me’. Connect with them on LinkedIn, provide some more background about yourself (particularly if they are an alum), or offer to buy them a cup of coffee — make a real connection.
  • Network the right way — Networking can help you land the job you’re looking for when done well. It’s takes more effort than just passing on your resume. You should ask for advice or have informational interviews. Then, once you’ve built a connection with a contact, ask for a referral. In the professional world, a referral means a lot. Most people will not personally refer someone unless they know them personally or have had a conversation with them about their experience and career goals.
  • Show that you have direction — Dani speaks from her own experience, “I don’t like it when new grads have ZERO direction for their career path. If I ask what they’re looking to do and the response is ‘anything,’ then I know they are not motivated and driven.” Even if you’re unsure of exactly what you want to do, you should narrow your focus and know what you’re passionate about so that you can relay this when speaking to potential employers or networking contacts.
  • Perfect your resume — Make sure your resume fits on one page and that it’s free of typos. It may seem obvious, but it’s key to getting off the pile. Keep editing and refreshing until it’s perfect because your resume is usually your first impression.
  • Follow up — Noah speaks from experience, “I speak to so many students and young alumni, hand them my business card, and then never hear from them.  I can’t help you if you don’t reach out.” Write a hand-written thank you card, send an email, connect on LinkedIn – do something that shows you care about your new connection.

Now go out there and get off the pile!

Cheers,

Ryan and Derrick