A&B #80

📚 Alex & Books #80

March 13, 2022

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Thank you for being a part of our reading community and coming on this journey with me.Fun fact: Today is the 5th year anniversary of Alex & Books. Read about how and why I started A&B here.

👋 Hey everyone,

Here are a few popular posts you may have missed:

📚 Book Lessons:

This week's book is Good Money Revolution by Derrick Kinney.The theme of this book is simple: Make more money, live the life you want, and use your money to have a positive impact on the world. Or as the author likes to say, "connect your cash to a cause, your money to a movement, and your profits to a purpose you love."Here are three lessons from the book:1) Save More To Make MoreThe first step to increasing your savings is to decrease your spending. Here are 3 easy tips: Cut 20% of spending: Find the waste in your current spending, reduce it, and use it to build assets. Set & Forget Your Paycheck: Set an automatic deposit so that on the first of every month a certain amount of your paycheck goes into your retirement and savings account. Get Free Money From Your Company: Increase your retirement contributions to the maximum to get the highest possible match from your company.Cutting down on your spending isn't fun, but remember that the more you do, the more money you'll have to invest and each dollar you invest will multiply in value over time. 2) Ask For A Raise (The Right Way)If you want to get a raise, you have to ask for it. Here's how to do it (the right way): Set up a meeting with your boss to ask what it would take to become a top performer. Say to your boss, "Assuming I hit all these objectives, I'd like to discuss a compensation adjustment, but first let me work on these things." Then spend the next 4-6 months working (and hopefully) exceeding the goals and expectations set by your boss. After 6 months, set up another meeting with your boss. Show how much you've achieved and bring data about how much other people get paid for your position. Now you can have an informed discussion about a salary increase.In short, the more value you provide to your company, the more valuable you'll become and the better chance you have of getting a raise.3) Give Back (It Will Make You Be Happier)It may sound cliche, but the best way to be happy is to help others. And there are a ton of studies to back this up: A study from the University of Michigan found that people who provided practical help to friends, relatives, or neighbors, had a lower risk of dying over a 5-yeart period than those who did not. A study from John Hopkins University found that people who provided social support to others had lower blood pressure than participants who didn't. A study from the Mayo Clinic found that people who volunteer have lower rates of depression, lower stress levels, and may live longer.So if you want to help yourself, start by helping others.

✅ Actionable Advice:

1) Increase your savings: