Tips on How to 'Get Ahead' in 2011

With the worst recession in decades finally easing, the question many young professionals are asking is, “What now? What can I do to get back on track or even get ahead of the game?”

Here are a few tips you can use in your career, your finances, and in your personal life to position you for success today – and tomorrow.

Learn to communicate. In today’s business environment, there are so many different ways to communicate to clients and prospects. The way you communicate with them – via e-mail, by phone, or in person – often affects the outcome of your conversation. If you’re dealing with someone older, an e-mail might not cut it.

Are you dealing with someone who is a bottom-line person? Communicate in bullet points and cut to the chase. Others prefer details. By getting to know the communication style of the person you’re reaching and adapting your approach to their preference, you’ll make a stronger impression and build rapport.

Get your finances in order. Don’t add any additional debt. If you’re looking to buy your first home, don’t buy a new car until you’ve settled the mortgage. And don’t purchase any new furniture or appliances until after your mortgage loan has closed and you have comfortably moved in.

Any new debt added before or during your mortgage application process could negatively impact your loan by increasing your interest rate, closing costs, or both. It could even threaten your loan approval. Save. Save. Save. One of the best options is to set up a monthly budget and stick to it. Try to reduce your monthly outflow on all other debt by paying off or consolidating debt.

Eliminate unproductive debt. Unproductive debt is debt that doesn’t provide some level of return. For example, if you purchase a new pair of shoes on your credit card, that is unproductive debt. However, if you purchase a home or any asset that appreciates, that is productive debt, something you’re investing in and will get a return on in the future. Working to eliminate unproductive dept is a great way to establish positive business footing. Having extra obligations, such as excessive credit card debt, can limit your options for movement and growth in your career.

Don’t automatically roll over your 401(k). It’s great to take advantage of 401(k) plans – they’re transportable from job-to-job. Instead of rolling your 401(k) balance into the new company’s 401(k) plan, consider funding an IRA instead. There is no cost to you if you are rolling an existing 401(k) into an IRA. Most 401(k) plans offer a very limited set of investment options, while an IRA has almost limitless investment opportunities.

These tips should help you get ahead in 2011. Remember, you are your greatest asset.

At Premier Bank & Trust we have the banking, mortgage, investment and planning resources that will help you secure your future. We’re invested in this community and continue to pour resources into making our community stronger.

Daniel R. Griffith is Vice President, Senior Trust Officer of Premier Bank & Trust. He brings to the Bank his prior experience as a partner at the law firm of Black, McCuskey, Souers & Arbaugh, LPA where he focused on business succession issues, estate planning, and trust administration. He is a member of the American Bar Association, Ohio Bar Association, Florida Bar Association, and Stark County Bar Association. He was named as one of the 20 young leaders under the age of 40 by the Canton Regional Chamber of Commerce.