Personal Growth Update May 2020: Investing vs. Saving, My Performance Review, and Feeling Proud Of Failure

 


Last month, I talked all about this roller coaster of emotions that I started on due to the pandemic and May has been a continuation of that roller coaster but differently. In April I talked about my money anxiety around my retinal property and that that has all been resolved so I’m not worried at all about the rent moving forward, but this roller coaster of emotions took different, more subtle, turns this month.

 

Investing Vs. Saving

Earlier this month, I shared the 5 beginner mistakes you need to avoid when you start investing. In that episode, I shared my most embarrassing mistakes when it comes to investing and how I enrolled in a boot camp and I’m really taking the time to learn more about investing. This has really been about applying my knowledge and what I’ve learned.

After securing my 6-month emergency fund (for myself and my rental property), I’m really focusing on investing. In my April Personal Growth Update, I talked about how one of the big mistakes I made was paying ridiculous transaction and account fees which is why I love using WealthSimple Trade where I can buy ETFs and stocks – for free! I’ve actually referred my boyfriend and his best friend because this podcast is all about trying to teach people how not to make the mistakes I did. Don’t be the person that pays $10/transaction and $100/year for fee LOL

However, with investing, comes the balance with saving. Investing is a long-term endeavour, and I have no interest in short term investing strategies like day trading. So I’m trying to figure out how much I need to save and put the rest towards investing. These are 3 things I’m currently looking at saving for:

Travel – Travel is a huge part of my life. I spent half of my twenties saving for travel and spent it extensively exploring 6 continents (on a shoestring budget!). And although it’s not in the cards right now, I want to save up for travel for when it is possible again.

Education – I am looking at going back to school for additional certification for work. My work has a continuing education program where they will cover a portion of the costs, but I still need to make up the difference. I was originally going to start this year, but with the pandemic, I will hold off on it a bit because I’d rather not do online school (but I might have to).

Property – This is a very long term goal but my partner and I are considering buying a third property. Not immediately, but it is in the back of my mind.

I know many financial experts say investing is the best thing to with your money, but I don’t know how the markets will look like in the next couple of years. I don’t want to invest all my money because I still want to enjoy my life in between. This month I’m really working on balancing investing and saving.

 

Finding The Balance Between Work and Passion

Something very unexpected that happened this month for me was actually regarding a change of government policy in my area. I’m not going to go into too much of the specifics of us because this is not a political podcast, but I did study government and I am passionate about it.

I am such a HUGE advocate for transparent and accountable government because I spent a significant amount of my career in it through non-partisan politics. When you work in it, and when you study it, you learn that there is a very small group of people that create policy for a large population and spend a lot of money doing it.

So when I see government officials try to divert their responsibility to the public, it really fires me up. I know a lot of people think government work is boring, but I really love what I do. However, I’m starting to learn to separate my passion for what I do, from my emotions. I always encourage people to get involved, but this month, my emotions pushed me into getting too involved.

I’m still learning how not to let this type of passion overtake my personal life.

 

My Performance Review

This month I had my performance review at work. It was my 3 Month performance review and I won’t. I don’t think I’m going to go into too much detail in this episode because I do want to record a whole separate episode regarding performance reviews and evaluations, but I am really proud of how I approach this performance review.

In my organization, we have this evaluation form that is sent to your supervisor, manager and yourself before the performance review and you all have to fill it out. So I do know the criteria that they are evaluating me on and the evaluation is a series of categories with 3 columns. The 1st column is exceeded expectations, the 2nd column is met expectations, and the 3rd column is needs improvement.

Usually, I would always want to be in the first column. I want to be the star and constantly exceed expectations, but for the first time in my evaluation, I put several things in the “needs improvement” column.

I’ve come to realize that if I exceeded expectations in every category, I probably shouldn’t be in the role anymore because I’ve outgrown it and I’m no longer challenging myself. I’ve also only been in the position for 3 months, so why should I excel in every single category? I took this position so I could learn, grow, and push myself.

I think society has taught me to really always want to be praised for being the best, but I’m learning to push back and really be okay with not being perfect all the time. I’m very proud of myself for approaching this review with a growth mindset.

 

Launching My First Product In My Business

The last update I wanted to give on this episode was actually a behind-the-scenes look on how MLA is doing as a business. If you follow me on Instagram, or if you’re on my email list, you’ll know that this month I actually launched my resume template package. The reason why I didn’t talk about it on the podcast is that the launch actually happened before launching the podcast, because I couldn’t do 2 launches at once.

In my Personal Growth Update in April, I mentioned how I am a part of The Perfectionists Getting Shit Done group coaching membership. And last month, I was coached by Sam to work through my money and business mindset issues by not only launching my resume template, but also raising the prices (I did a soft launch prior to this and then updated it). I originally didn’t want to do this because I am very uncomfortable with sales.

However, I launched the product and am so proud of myself for going through with it! I’m so proud of the work I put into it because the package doesn’t just come with a resume template, it comes with a cover letter and reference template and a whole workbook on how to write the perfect resume. But I still felt uncomfortable promoting it.

Throughout the launch, I was worried people would unfollow me or unsubscribe, and while I did have people unsubscribe from me, I also got SO MANY messages on how helpful my content was! I thought that I was being too self-promotional, little did I know that other people saw it as helpful! I even had someone approach me for career coaching!

And that’s a mindset I’m still trying to work on and what Sam coached me through. I had all these scenarios and thoughts in my head of how people would perceive me and what other thought. First of all, not that many people are thinking about me, but this month I really learned how to push through the fear of launching a business product and I’m really proud of myself.

And while this launch was not a “success” by number standards, I’m so proud of the effort I put in and how I showed up. I’m also so happy that I was able to share my resume secrets with people because this resume is ATS friendly and not having one cost me SO MANY opportunities in my career. I’m so glad other people won’t be making the same mistakes as I did, as you can tell that’s a big theme of MLA.

I went to bed the night after my launch ended feeling so incredibly proud of myself. Because as cheesy as it sounds, I do believe you learn more from your failures than your successes and the faster you fail, the faster you succeed. I learned so much about the process of launching a product and they are lessons I can apply for the future! I’m also considering taking off my resume template package to focus on other things (I don’t have the business strategy solidified yet), so if you’re interested in how I land jobs – check it out!

 

Lastly, I’m so proud of myself for launching the Millennial Life Admin podcast and not letting any doubts and fears get in the way. This was something I’ve been thinking about doing for a year and when I decided just to go for it, I didn’t let my perfectionism stop me. I let my Instagram audience vote on the name, choose the artwork, and didn’t let myself obsess over the little details like the shade of blue in the cover art.

Thanks for being a part of this journey, I really appreciate it.

Until next time – happy saving and spending!

Author: Kimberly

Hi there! My name is Kimberly and I created MLA as a personal development, career, and finance resource for millennials. MLA focuses on helping career-driven millennials create the personal development habits to achieve work-life balance and manage their money. Throughout this blog, you’ll find articles that give specific and detailed advice because I’m not into the fluffy advice. There’s plenty of that on the internet. Here you will find tangible advice on how to find a rewarding career (that you love!), where you can help others, and learn how to save and invest your money for the future. I hope you’ll follow along!

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