1. Effective Communication

2. Communication is defined as the transmission of information, thought, or feeling so that it is satisfactorily received or understood Being a good communicator comes naturally to some, but most people need to make a conscious effort to improve their communication skills

3. Why Is Effective Communication Important? to learn something to make intelligent decisions to have meaningful relationships to save time to be successful to make money to share information to understand a situation to solve problems to create “win-win” situations to be an informed consumer

4. Effective Communication Tips Be an active listener Ensure the nonverbal (body language) message matches the verbal message Ensure communication is two-way and not just a one-way flow Conduct perception checks to ensure you are not making false assumptions

5. Active Listening Look at the speaker Show positive body posture and gestures Summarize periodically to ensure understanding Ask questions to –show interest –clarify information Don’t interrupt

6. Nonverbal Communication This is everything else in the message besides the spoken words – facial expression, body posture, gestures, tone of voice, etc. When the nonverbal and verbal messages disagree, the listener usually receives the nonverbal communication

7. Nonverbal Comm’n, cont’d

8. Two-Way Communication Look for clues to indicate understanding Repeat a message Explain the message in a different way (use different words, use an analogy, etc.) Ask for feedback

9. Perception Checks Different people show emotions differently We interpret the same situation differently based on our own past experiences We can only truly know what another person is feeling by asking

10. Other Tips Be open and honest Use voice inflections; don’t talk in monotone Describe your feelings Give messages appropriate to the receiver (speak at their level). Be forthright, yet tactful Use “I” messages

11. “I” Messages In conflict situations, we often use “you” statements: –“You are rude.” –“You make me mad.” –“You never do anything around here.” “You” messages judge, blame, and assume things. They usually generalize and often result in defensiveness.

12. “I” Messages “I” messages don’t judge, blame, criticize, or insult. They don’t invite counterattack. They are usually more accurate. They help us take ownership of our thoughts and feelings.

13. “I” Messages, cont’d Can simply state your feelings – “I feel upset.” Can relate your feelings to someone else’s actions – “I feel hurt when you insult me in front of our friends.” Can relate your feelings and state a desired action that will help – “I feel really tired and would like you to do your half of the housework.”

14. The Emotion of Anger

15. Anger Anger itself is not negative. It is how we express our anger that can either be harmful or healthy.

16. How is Anger Expressed? turning red shouting/yelling throwing things hitting things hurling insults getting even holding grudges silent treatment slamming doors damaging property

17. 3 Types of Anger Expression 1.Aggressive anger: directed at another person to hurt them physically, emotionally, or psychologically. Examples are yelling, insults and put-downs, hitting

18. 3 Types of Anger Expression, cont’d 2.Passive anger: person avoids dealing with anger and internalizes it. Examples are blaming, criticizing, or punishing self. Also holding a grudge, getting even, spreading rumors, damaging property, silent treatment

19. 3 Types of Anger Expression, cont’d 3.Assertive anger: expressed directly, but in a non-threatening way. Most constructive type. May be expressed like, “I feel angry when you...”

20. Anger Iceberg Anger is often referred to as a secondary emotion. We express anger to cover up other vulnerable feelings We need to understand these underlying feelings. Anger Hurt Scared Frustrated Humiliated Rejected

21. Scenario Mary is listening to her favorite CD with friends. When her older brother Peter comes home from school, he comes into the room and puts on his own CD without saying a word. Mary turns red, but she doesn’t say anything. Shortly after, Spot, the family dog, comes over to her for a pat. Mary shoves Spot away and yells, “Leave me alone! You’re such a pest!”

22. Questions What type of anger expression did Mary use? Was it constructive or destructive? Why? How could Mary have expressed her anger more constructively? What were the underlying feelings Mary might have been feeling when Peter switched the CDs without asking?

23. Stress Management

24. WHAT IS STRESS? lStress is your mind and body’s response or reaction to a real or imagined threat, event or change. lThe threat, event or change are commonly called stressors. Stressors can be internal (thoughts, beliefs, attitudes) or external (loss, tragedy, change). lWhat is a stressor to one person may not be to another person.

25. TYPES OF STRESS

26. EUSTRESS Eustress, or positive stress, occurs when your level of stress is high enough to motivate you to move into action to get things accomplished.

27. Benefits of Eustress Increased productivity Enhanced creativity Motivation Excitement Stimulation Sense of purpose Challenges

28. DISTRESS Distress, or negative stress, occurs when your level of stress is either too high or too low and your body and/or mind begin to respond negatively to the stressors.

29. Effects of Distress High blood pressure Ulcers Headaches Heart disease Anxiety Insomnia Eating disorders

30. Stress Elicits the Fight or Flight Response

31. Physiological Changes in our Body Increased heart rate, breathing rate and blood pressure Increase of oxygen to the muscles Pupils dilate Increased blood flow to the brain Decreased functioning of digestive, sexual, and immune systems

32. Symptoms of Stress Checklist

33. Time Management

34. Time…an interesting resource Unlike money, we all have the same amount of time – 24 hours every day We have to spend it at a constant rate of 60 minutes to an hour Unlike money, we can’t save it up and then go on a spending spree Time mgmt, like financial mgmt, requires analysis and planning

35. Benefits of Managing Our Time More time for important things Better sense of accomplishment Lower stress levels More balanced life Better relationships R&R

36. Identify Priorities Distinguish between important things and urgent things Important things are the things that really matter to us in life: –spending quality time with loved ones –eating right –exercising Urgent things are the things we have to do on a daily basis: –run errands –make phone calls –go to appointments

37. Identify Time-Wasters You have to know what your time wasters are so that you can then try to eliminate, or control, them –TV –Disorganization –Procrastination –Perfectionism –Overload

38. Planning…the key to success Planning, and sticking to it, is the key to successful time mgmt It requires some time on the front end, but saves you more time in the long run Plan for the long term and the short term

39. Planning Tips List your goals/tasks on paper Set a start date/time for each Estimate the time it will take for each – be realistic! Set a due date Break large tasks down into smaller tasks Prioritize using the A/B/C method

40. Career Management

41. The Way It Used To Be… Retirement Maintenance Establishment ExplorationGrowth Age15254565

42. The Way It Used To Be, cont’d Growth: physically, mentally Exploration: learning about your interests & aptitudes, narrowing occupational choices, post secondary education or training Establishment: gaining experience, doing job well, being promoted Maintenance: continuing in job Retirement: stopping work, planning more leisure time

43. The Way Of The Future… Process continues ExplorationGrowth Age152565 11 2 33 22 1

44. The Way Of The Future, cont’d 1 – Get a job 2 – Get laid off (contract ends, company goes bankrupt, gets bought out, or relocates, downsizing) 3 – Period of unemployment/job search/ study/volunteer work The new career direction is not better or worse, just different and requires different coping strategies (different attitudes, plans, lifelong learning, etc)

45. How Does This Shift Impact Me? Adopt “lifelong learning” as your motto Be responsible for your own retirement plan (RRSPs) Be financially responsible so you can ride out the periods of unemployment Know your transferable skills Keep your resume up-to-date Embrace technology, don’t fear it Don’t “burn bridges” – stay networked Always plan for what’s around the next curve

46. General Trends in Labor Market Fewer full time, permanent jobs Changing jobs often; contract work; self- employment Shift from large employers to small Shift from public employers to private Need for computer skills to compete in work force Need for higher education Need for people who can adapt to changing technologies

47. Financial Management

48. Discussion Questions What services to banks provide? How many of you have bank accounts? What types of accounts do you have? Why do you have these types of accounts? How many of you plan out a budget for yourselves?

49. Bank Accounts Savings –used for saving money –pay a higher interest rate Chequing –used for day to day banking –can write cheques to pay bills –pay a lower interest rate –often have service charges for every cheque written

50. Video: Savings & Chequing Accounts

51. Filling Out a Cheque 20

52. Interest The fee charged to borrowers and paid to savers for the use of money. Interest paid to savers is always less than interest charged to borrowers. This is how the banks make profit.

53. Overdraft If you write a cheque, but you don’t have enough money in your account, your cheque is said to “bounce”. The bank calls this overdraft and usually will charge you a fee (~$25) as a penalty. The fee is called an NSF fee – non-sufficient funds.

54. Bank Statement April 30, 2002 March 31, 2002

55. Complete Banking Exercise

56. Actual Bank Statement

57. Credit Cards Enable you to buy now and pay later. The catch is that if you don’t have the money now, you also won’t have it later and then you have to pay interest. Credit card interest is often 2-3X higher than bank interest. Cards such as VISA or MasterCard are useful to have in case of emergencies, but can be dangerous if you lack financial restraint.

58. Budgeting Budgeting involves planning how you are going to spend your money on a monthly basis. You must consider fixed and variable expenses, as well as adjust for the emergencies. Budgeting also requires analyzing how your planned budget compared to your actual spending for the month.

59. Savings and Investing

60. Types of Investment Options Term Deposits Guaranteed Investment Certificates (GICs) Stocks Mutual Funds

61. Term Deposits You receive a set interest rate when you lock your money in for a set time. Benefits: higher interest than savings account; no risk Disadvantages: money is locked in; penalties for breaking the term

62. GICs Same as term deposit, but usually for a longer time period. Benefits: higher interest than term deposit; no risk Disadvantages: money is locked in and can’t be taken out until GIC matures; contract is usually longer; minimum amount of money is usually higher

63. Stocks Buying shares in a company. Benefits: if the company does well, gains can be great; money is easily accessible Disadvantages: if the market goes down, losses can be great; risky; difficult for average person to know what to invest in

64. Mutual Funds Professionally managed collection of investments in stocks and bonds. Benefits: small investors have diversification; better gains than GICs, not the risks associated with stocks Disadvantages: subject to market movement, better to use when investing for the long term

65. RRSPs Registered Retirement Saving Plans Help you plan for retirement Investment and the interest is tax sheltered – only pay income tax on it when you withdraw it Term deposits, GICs, mutual funds can all be part of your RRSP

66. Investment Tips Pay yourself first – treat the money that goes into savings as if it were going to pay a bill and don’t touch it. Aim to invest 10% of your pay cheque. Diversify – don’t put all your eggs in one basket Remember the Rule of 72: Years to double = 72 Interest rate