Archived Posts

I recently went on an interview for a contract and was somewhat nervous because it had been a while since I'd been on one. Upon starting the interview, I was informed that it was going to be a behavioural interview ... I immediately froze and thought, what is that!? Thankfully, it was wasn't as bad as it sounded.

I've been on many interviews over the years and have been subjected to many different kinds of interview techniques and questions. This behavioural interview was somewhat new to me. I was asked questions like 'Tell me about a time you ...' and the interviewer would fill in a situation which I would have to describe. I have to say, it was much more structured then I've seen in the past.

What were some of the questions?

Well, I was asked to describe a time I worked in a team; a time I faced a problem at work and what did I do about it; a time when I didn't agree with my boss; ... one after the other, I was asked these questions, all with the same opening, 'Tell me about a time ...' and the HR person filled out a questionnaire with my answers. This went on for about an hour or so, and when it was over, I was exhausted!

What is the purpose of this type of interview?

They give the potential employer 'a glimpse into a job candidate's attitudes, work styles and personality'. By asking questions based on past job situations, I guess the theory is the answers, if given truthfully by the candidate, should provide an indicator of how they would react in the future.

How did I do?

I answered most of the questions fairly well, although there were one or two that I couldn't really answer. I was honest and admitted that I didn't immediately have an answer and requested that we come back later to them … thankfully, we didn't get back to them! I must have answered the questions fairly well, because I did get the job (my current contract), but the experience has left some doubts in my mind.

INTERVIEW TIPS

I usually do fairly well in interviews because I keep the following in mind:

1.) Be yourself – most people can spot a phony

2.) Answer truthfully – lies have a way of multiplying themselves and getting out of control.

3.) Admit if you don't have an answer – there's nothing worse than stammering trying to come up with an appropriate comment.

4.) Arrive early, but not too early – maybe 5, 10 minutes top. The interviewer may be seeing someone else before you or they might be stuck in a meeting.

FINAL THOUGHTS

I'm not crazy about techniques like this because they make me a bit uncomfortable (maybe that's the point?). Plus, I feel there is still room for someone to fudge the truth a bit, making the whole process potentially pointless.

In the past, when I've interviewed people – and I am certainly NOT an expert – I've just started the conversation and seen where it led. I also liked the interviewee to talk as much as possible. I would usually try to see if the person was a good fit, rather than gage their skills.

Ultimately, how a person 'fits' into an organization is frequently more important than their skill set. Very rarely, do candidates' skills match exactly what a company is looking for.

If their skills match perfectly, chances are, the person won't stay for very long.

Photo:Jim Linwood

RELATED POSTS

Worst Companies to Work For

How to Get Paid What You're Worth

Working for a Family-Run Business

Is there Such a Thing as Low-Skilled Labour

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Here are some great posts from the past week or so:

Quest for Four Pillars talks about so-called Gurus or experts. Beware!

Fabulously Broke In the City – why she rents instead of buying a home. Sold my condo a few years ago and renting, as well. I have to admit, I miss owning a place.

MoneyNing – a Counter-Intuitive Way of Lowering Your Spending. Spending is kind of like dieting – if you deny yourself too much, the temptation to binge can be overwhelming.

ToughMoneyLove – On Being Your Own Financial Planner. All it takes is a bit of work on your part.

The Simple Dollar – Ten Vital Tactics for Making the 'Money Talk' work. We just don't seem to like talking about money.

Frugal Dad – Marriage and Money: Who Handles the Bills? Someone has to do it.

KCLau – Millionaires in the Making. Someday!

Million Dollar Journey gives an RRSP Tip

Brip Blap – The Appearance of Competence. First impressions seem to matter more than skills sometimes.

THIS WEEK'S CARNIVALS

Carnival of Personal Finance at Canadian Personal Financial Blog

Carnival of Money Hackers at One Million Bucks

That's it for now!

This is a post I did July 30/08 on aging. I've decided to repost it because I've just come back from vacation and have had lots of spare time to reflect. I wish I could somehow get that feeling of being on vacation everyday …

(July 30/08)

It’s funny how many guys hit their 40’s and then the mid-life crisis sets in. As I approach my 40’s – I’m 38 – I am beginning to understand how these feelings start.

I guess the first question is, why does the mid-life crisis come about?

I would suspect many guys take a hard look at their lives and question the choices they made: Am I in the right profession? Did I marry the right person? How do I compare to everyone else at my age?

Or the big question … is there something I missed?

Along the way, we often have to take jobs that we might not especially like in order to pay our bills. This can lead to sacrificing many of our dreams because we just don’t have time to pursue them.

As the years pass, we can become complacent and comfortable and soon forget about our childhood aspirations.

There are many times I’ve been at work (accounting), and dreamt of being somewhere else, but at this point in time, I’m not in any position to retire.

I don’t know about you, but I don’t know of many people who dreamt of being an accountant when they were a child.

When the mid forties hit, some of the dreams may become awakened because most of us are more financially settled, have paid off many of our debts from our 20’s and 30’s, and have much more spare time.

With this spare time and more money, the unavoidable questions begin …

Is there any way to avoid ‘the crisis’?

I think the answer to that has to do with the way you live your life – are you working for money or following your true passion?

If you’re working for money, there’s a good chance that you may miss out on some things because you may be too busy working – unless you’re one of the lucky ones who makes tons of money while following their passion.

With money comes a lot of the trappings of success like fancy cars, houses and clothing – at the end of the day, these things take valuable time away from us which can be used to gain new experiences

I sort of have a different philosophy – I want to do everything I can until I get too old to do it!

While money is important to some degree, I no longer want to work at things that I don’t really like in order to make lots of money …

I think I’d prefer to be rich in experiences, rather than just be rich.

Here are also a few other tips to avoiding that mid-life crisis (and for a happy life in general):
- be thankful for everyone and everything in our lives.
- stop comparing ourselves to everyone.
- more isn’t always better.
- do it now! Don’t wait until it’s too late.

I’m not saying rich wouldn’t be good, I’m just saying that I don’t want to miss out on anything.

So, I am saying ‘No’ to the mid-life crisis. I’m going to pursue my dreams and interests, even if they seem a bit silly (albeit with a well thought out plan)

I’ll let you know in 10 years, if I was successful or not.

UPDATE

Well, I'm now 7 months older since doing this post and getting close to 39 … then 40!

Still working for money, unfortunately – got a few small bills to pay off.

I've also noticed a few extra grey hairs here and there. It's funny about aging – it doesn't happen gradually. It seems to come in spurts. One day, I'm fine and then I wake up and suddenly I've aged. Weird.

Can't believe how much I've aged since last year – took a look at a photo and was surprised.

Oh well.

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This is a post I did Jun 27/08, after one of my many trips to New York and New Jersey. I though I'd repost it because I think it's relevant … plus, I'm still kind of in vacation mode.

(Jun 27/08)

I was in New Jersey a few weeks ago (Asbury Park) and was amazed at how cheap some of the properties were. Friends of mine bought a renovated old house for $180,000 – you can’t buy anything in Vancouver for that price anymore.

Granted, the house is in a ‘transitional’ area so there is a reason that the value is much less. Any decent house in Vancouver is well over $500,000.

It begs the question: if you can’t afford to buy in Vancouver should you buy somewhere else?

It’s kind of appealing if you look at some of the property values in other parts of Canada or the US. A friend of mine was travelling a few hours outside of Vegas and apparently, you could get houses for $50,000.

In New Jersey, in some of the really ‘transitional’ areas, you can buy a house for $140,000.

Sounds like a good deal?

Some would say New Jersey isn’t Vancouver, so values here are higher given our weather and lifestyle. This is something to consider: if you’re looking to buy in another city or even country and find a deal, prices are probably cheaper for a reason.

Each real estate market has local differences so it’s important to do the research. One thing that I found interesting is that the cost of home insurance is significantly higher in New Jersey than in Vancouver.

As it turns out, if you’re close to the ocean, your insurance rates could be much higher. My friends pay $1,200 per year for their house and they consider that a good deal. In Vancouver, similar rates seem to be about half and we have the potential for earthquakes!

Another issue is the need for title insurance. They have a completely different system of land titles in New Jersey, where the government is not as involved as here in Canada. Consequently, the system isn’t as rigorous and the chance for error or fraud could be much higher.

When I owned in Vancouver, I did not have title insurance – that I know of – and I wouldn’t have thought to ask about it.

So, if you’re thinking of buying abroad do your homework – investigate why prices are cheaper and make sure you hire someone locally who knows what they are doing.

That amazing deal may not be such a deal after all.

UPDATE

I've been back several times (including just last week) and the house in Asbury Park is looking great after some much-needed decoration. But, there have been a few surprises:

1.) There is no insulation in the house – they discovered this after a squirrel ran around in their walls. Most homes in Asbury Park were built for summer use and did not have insulation at the time. Oops!

2.) There are no heating ducts upstairs – the heat is currently running through the walls, which happen to be empty. Nothing like getting a $400 heating bill!

3.) Some of the fixtures weren't installed with the best quality. As a matter of fact, the general quality seems to be lacking.

The house was actually a flip originally purchased by investors for $53,000. It was in pretty sad condition – burnt walls … you name it – but was supposedly completely renovated, which is why my friends purchased it.

They did hire a home inspector, but he seems to have missed some pretty major items, which I think will have to be another post.

Hopefully, the house will stand the test of time.

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Now that I've had a bit of free time the past week, I've had a chance to think about the many different kinds of bosses I've had over the past 15 years. It's amazing how each boss had a unique style which had varying degrees of effectiveness – let's just say, some did fairly well and others, I often wondered how they got their job.

So, I've compiled a list of some of the traits and habits that I found worked with me – ie, made me a happy and productive employee:

Don't micromanage – some managers want to oversee everything you do and require checks and balances at each stage of your job. The simple fact is, they're perfectionists and can't stand the thought of errors being made. The problem is, being micro-managed can actually cause errors because you get so stressed out and nervous. As a manager, you'll get burned out because you'll end up doing all the work.

Duplicate yourself – similar to 1.) train, mentor than set your employees free. You'll get so much more work done and you'll find that you can be in one place, and your newly-trained and confidant employees can be in another – think of what you'll be able to accomplish.

Never let them see you sweat – as a manager, you should (try) to never blow up and get too angry. This creates an atmosphere of fear and distrust. Recognize that mistakes will be made and things may not always go as planned. I found that as an employee, if my manager freaked out or blew up at me, I lost respect for them and felt my motivation go down the toilet.

Lead by example – employees will look up to you and take cues from your own behaviour. If you frequently say one thing, yet do another, you may lose credibility and your employees will start to lose trust or feel contempt towards your leadership.

Surround yourself with the best – some managers are insecure and surround themselves with people who aren't as smart as they are. I guess it's an ego thing and they need to feel important. I don't know about you, but I want the smartest people to ensure that the best possible job is done. If you hire dumb people, you'll just have to train more and spend your time cleaning up mistakes.

Be Approachable – always have an open-door policy, regardless of how busy your are. If an employee asks for help, stop what you're doing and help them! Obviously, you'll have to set certain boundaries, but a managers job is make sure the employees get the work done. I've worked at places where the manager always said 'not now, I'm busy' and the poor employees ended up frustrated and not knowing what to do.

Without a doubt managing can be a tricky business, especially for people who've never done it before. Managing a task and actually doing it are two different skills. I often see people get promoted who are great at a certain specialty but then fail because they have no people skills.

Just recognize that no one is perfect and 'gets it' the first time.  It takes practice and years of work to be a great manager.  If you keep people in mind, you've won half the battle.

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Currently in New York and Jersey enjoying a much-needed vacation while visiting friends.

I love Jersey! There's is so much to do and see.

The shopping is fantastic – Jersey has the most malls per square mile of any state in the US.

Don't get me started on the diners.  The sheer number of unique, independently-owned places to eat is simply amazing! The price is right and the food and service are always top notch. Here is a small directory – I've been to the Broadway Diner in Redbank on this list and had a huge meal of meatloaf for less than 10 bucks.

I'm actually staying in Asbury Park, on the New Jersey Shore – home of the Stony Pony, the legendary rock show palace.

This cool shore town has seen its share of problems but like a phoenix it has risen from the ashes … well sort of.  Sadly, just as things were starting to get better, the economy crashed.  Looks like Asbury will have to wait until the next economic boom time.  Hopefully, that will be soon!

Anyways, only a few more days left, but here are a few websites where some of my posts are featured.

CARNIVALS

Carnival of Finance, Wizard of Oz Edition at Dollar Frugal

Carnival of Money Hacks at Your Money Relationship

Rich Life Carnival!

That's it for now …

Photo: Sister72

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In a previous post, I wrote about my budget meltdown – I had been spending too much money and finally realized that I needed to get a firm grasp on my personal finances.

Well, I'm happy to report that for January, I managed to get things back in order. I was over budget on my gym fees, though – I purchased a block of yoga classes which aren't cheap – but I was able to offset this with my food and entertainment spending. This is certainly a far cry from one month, where I spent $1,500 on going out. Oops!

How did I do it?

The main thing is, I left my credit card at home. In the past, I've had a bad habit of impulse buying which is very easy when you have a high-limit credit card with you at all times. I also took off the 'one-click' purchase option for itunes. Now, I have to click twice which makes me think twice about purchasing new music.

I was under in pretty much everything else because I simply chose to not spend. Granted, I was burned out after New Years and the three months previous to that – I'm sure many people felt that the same way in January.

I now also check my budget every few days, whereas before I would let it slide for a month or so … of course, by then, it was usually too late.

I still haven't increased my retirement plan contributions (to $500), but I plan on doing this after my vacation.  I also might be unemployed by May, so I will have to be careful.

As far as this blog goes, my subscribers are now sitting at 75 – this has almost doubled since the beginning of the year! Hopefully, this trend will continue.

RELATED POSTS

Budget Meltdown

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I'd just had to relay this anecdote that a colleague of mine recently told me about a good friend of hers.

Her friend is a multi-millionaire but doesn't like to show off this fact. She'll dress fairly conservatively and can be frequently seen around town carrying a plastic shopping bag.  No Gucci or Coach bags for her Practicality seems to be the order of the day.

Anyways, she walked into a fancy store called Holt Renfrew – it's kind of like Barney's or Nieman Marcus in the US. It is very expensive with many top luxury brands. She was dressed as per her usual sensible nature with her plastic shopping bag in tow.

She walked around the store and motioned for someone to help her. But something happened – the sales clerks completely ignored her. I wonder why? Hmmm … could it be, the sales clerks didn't think she had any money? As it turns out, she had about $800 in cash in her pocket and was ready and willing to shop.

What's the moral to this story?

You really can't judge a book by its cover. Granted, she was dressed in a plain and ordinary manner, but had those sales people taken the time and asked the right questions, they probably would have had a sale.

It's also confirms something that I've known for quite some time. Very frequently, the people who appear well-dressed on the outside are frequently very broke. I've also been doing taxes for many years and I see the same thing – people that spend their money on high-priced items usually (but not all the time) have financial cancer.

I've dealt with a few millionaires, too, and I've found that the truly successful ones dress modestly, are gracious and polite and will always take the time to chat, regardless of who you are.

That's why I tend to not judge people by the way they dress – you just never know who you're going to meet.

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Finally heading off on a much-need vacation – the last time I went away was in June … too long I think! My flight is one of those red-eye flights and I arrive in New York at 6 am. Let's just say, my energy and patience are going to be severely tested … but that's ok – here are a few things I do to help alleviate the pain of travelling.

1.) Carry-on luggage – When I travel, its carry-on luggage for me! There's nothing worse than getting off a flight when you're tired and cranky and having to wait to get your luggage with everyone else. Not possible, you say? Well, a friend of mine recently flew to Israel for 3 weeks with only one-carry on. Check out the site One Bag for tips on how to travel lightly.

2.) Choice of seat – I always sit in an aisle seat as close to the front of the plane, as possible. This way, when we land, I can be first in line at customs. Also, it's easier to get out of your seat if you have to use the bathroom. The down side is you are the last to board the plane, though.

3.) Memberships – I belong to the Marco Polo Club with Cathay Pacific. It cost me about $50 CDN extra but I feel it's worth it. I get cool luggage tags and I can use some of the special lounges (great for de-stressing) but the best thing is I get to board the plane before everyone else, regardless of where I sit. This saves 10 or 15 minutes of lining up and standing around.

4.) Be extra, extra nice – when travelling, you usually have to deal with stressed-out airline employees … dealing with the public is challenging at the best of times. Why not make it easier for them and ultimately for you, by being courteous and reasonable, even if things aren't going your way?

5.) Direct flights – I've taken flights where I've had to transfer to save money. At the end of the day, it's just not worth it, even if you save hundreds of dollars. You end up wasting part of your vacation and it just ends up increasing the level of stress and decreasing the amount of enjoyment. Thankfully, my flight to NY is direct and takes 5.5 hrs. Other flights were slightly cheaper (but not by much) and would take 8 hrs or more with the stopover.

If you'll notice, most of my tips don't focus on saving money. That's because when it comes to travelling, I'm all about saving time and being comfortable.

It's just too stressful when you have to deal with long flights and increased security requirements nowadays.

Vacation Note: Since I'll be on vacation, my posts might be a little sporadic.  I'll resume my normal schedule on Wed, Feb 17th.  Thanks for reading!

Photo: Thomas@bod

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Recently, I wrote that I wanted to 'un-tether' myself from my home computer, and signed up for some of the web-based Google Apps services or Cloud Computing, as they call it. The premise is that you use the computing power of a central server and keep all your documents in one place. I also recently had a chance to take a look at some of the offerings by ADOBE.

ACROBAT.COM, is a flash-based set of applications run directly from the internet – Buzzword, ConnectNow, Create PDF and Share, and MyFiles. Buzzword is Adobe's Word processor, ConnectNow allows live video-conferencing with the web, and MyFiles allows the user to organize and store files online - right now, Adobe is giving 5 Gigs of storage and a trial of PDF creation (up to 5 documents).

The exciting part is the ability to easily share documents, thus eliminating the need for large email attachments. With Share you can easily keep track of who has viewed which documents and give permission to people outside your company to access documents and make comments. Everyone's comments can be viewed, noted and collated into a final document. In the past, there would have been multiple copies available in the form of different email attachments – this would be eliminated with the share ability.

After viewing the demonstration it's fairly clear that Acrobat is slick and easy to use. With its simple flash-based design, changes are easy to make and graphics are very simple to add and manipulate within a document.

DIFFERENCES BETWEEN GOOGLE 'CLOUD' AND ACROBAT.COM

There are some key differences between Google's and Adobe's offerings. Google also offers a spreadsheet, whereas Acrobat does not (yet). With Google, you have the ability to host your email services directly with them. You can imagine the cost savings by not having to host your own email – not having to pay technicians or buy an additional computer. This is in addition to Gmail (that many people already use) which Google already offers – you can have the ability to have your own domain name as your email address mostly for free.

Adobe seems to be focusing more on content/web-based creation right now and creating a simple and convenient environment to work in – by using technology that is already proven and widely-used (flash). It seems that Acrobat.com would still be used in conjunction with your current network – you wouldn't be getting rid of some of your software or hardware just yet.

THE FUTURE

One thing is clear, the future of 'Cloud' computing, whether or not you use Google or Acrobat is very exciting. In this age where we use multiple computers, it's getting annoying having to carry a USB thumb drive around with all our documents. The old paradigm of emailing documents out and waiting for feedback will soon be a thing of the past.

Another thing is also clear – competition is heating up and I wonder who will ultimately win if it turns out to be a bit of a battle …

Will it be the company with the best interface or the company that provides the best integration or all-in-one solution?

RELATED POSTS

Cloud Computing

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Can't seem to shake this cold. I'm literally on my my 3rd cold in the last 4 weeks – just as I get better, I seem to get sick again. Must have been the two-days-in-a-row of yoga sessions. Apparently, hot, sweaty, closed-off rooms are great for spreading germs.

This is probably the worst I've ever been sick … it makes me wonder, sometimes, are we due for the next great influenza epidemic or worse, pandemic. One thing is clear, the effects of such a pandemic have been devastating in the past, namely the 1918 pandemic. I know I missed a few days of work recently, which was a bit of a financial strain since I'm self-employed. I can't imagine missing several weeks!

One things is clear – get those emergency funds in place or pay off that debt, because you never know what's going to happen next!

Photo: karynsig

GREAT POSTS

Here are a few interesting posts from the past week:

Money or Sex? by Money Grubbing Lawyer – What would YOU rather talk about? I'm more about action, actually …

Recession by ABC's of Finance – we all can feel its effects, but what does it really mean?

8 Baby Boomer Money Mistakes You Should Avoid by Tough Money Love – good advice for us young folks, too.

52 Ways to Make Extra Money by Prime Time Money – my contract is ending soon …

40 Precautions for Preventing Identity Theft by MoneyNing – this is a big concern of mine.

Do You Love What You Do? by Bargaineering – a very moving story of one man who left his high-paying job to do what he really loved.

CARNIVALS

Here are some carnivals which feature some of my posts this week:

1.) Carnival of Personal Finance at Funny About Money

2.) Carnival of Financial Planning at The Skilled Investor

3.) Rich Life Carnival

4.) Money Hacks Carnival at Curious Cat – lots of purrfectly great articles.

Till next time … (cough, cough)

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Recently, the US government amended its 'Buy American' provision as part of its $900 Billion stimulus bill. Initially, it "would have required that all public works projects funded by the stimulus package use only U.S.-made iron, steel and manufactured goods" I have to admit, as a Canadian, I was a little worried by the original language and was relieved to see it 'softened.'

I was initially concerned because I thought that the world was heading into a more open state with regards to trading. With the advent of the internet, you can do business from pretty much anywhere and world 'borders' are slowly being blurred. Canada also depends on exporting to the US fairly substantially so we would have been hurt by the provision. We're dealing with world markets now, it seems, and to ignore that fact, may be foolish in the long run.

Globalization is clearly not perfect with its many problems. What happens when local industries die? What happens to local culture – is it being homogenized in the pursuit of international brands? Are we being flooded with cheap goods and have we lost quality and customer service in the process? What about human rights and environmental concerns? With all these issues, it's no wonder countries and its citizens become hostile towards big global companies.

Obviously, completely opening your borders without any consideration of local industries is foolish. A country needs to guard certain industries (auto?) because thousands of people are employed and they are intertwined with many other industries and companies who depend on each other to survive.

Is the world heading into a state of protectionism? It seems ironic that when times were good everyone's borders seemed 'more open' but now that the world is in a recession, everyone seems to be closing their doors. The theory is local industries need to be protected - thwarting international competition and making foreign goods less attractive, will mean people will buy more local goods.

This sounds appealing in the short-run, but I have to wonder, in the long-run, if protectionism is really good for anyone. The US may need to be careful because countries may just end up selling their goods somewhere else … China? Countries may also end up retaliating – trade wars aren't really good for anyone.

At the end of the day, will the softened Buy America provision matter? I have to wonder … while officially, they'll certainly adhere to NAFTA and the WTO and provide other countries equal access, the financial mess is so great in the US the temptation to give the business to American firms may be too great.

RELATED POSTS

Recession or Depression?

Widening Gap Between the Rich and the Poor

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