Effective Communication

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

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

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

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

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

Nonverbal Comm’n, cont’d

Tone of

Voice

38%

Spoken

words

7%

Facial

Expression

55%

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

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

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

“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.

“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.

“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.”

The Emotion of Anger

Anger

• Anger itself is not negative.• It is how we express our anger that

can either be harmful or healthy.

How is Anger Expressed?

• turning red• shouting/yelling• throwing things• hitting things• hurling insults

• getting even• holding

grudges• silent treatment• slamming doors• damaging

property

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

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

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...”

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

HurtScared

Frustrated Humiliate

dRejected

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!”

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?

Stress ManagementStress Management

WHAT IS STRESS?Stress is your mind and body’s

response or reaction to a real or imagined threat, event or change.

The threat, event or change are commonly called stressors. Stressors can be internal (thoughts, beliefs, attitudes) or external (loss, tragedy, change).

What is a stressor to one person may not be to another person.

TYPES OF STRESS

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.

Benefits of Eustress

• Increased productivity• Enhanced creativity• Motivation• Excitement• Stimulation• Sense of purpose• Challenges

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.

Effects of Distress

• High blood pressure• Ulcers• Headaches• Heart disease• Anxiety• Insomnia• Eating disorders

Stress Elicits the Fight or Flight Response

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

Symptoms of Stress Checklist

Time Management

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

Benefits of Managing Our Time

• More time for important things• Better sense of accomplishment• Lower stress levels• More balanced life• Better relationships• R&R

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

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

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

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

Career Management

The Way It Used To Be…

Retirement

Ma

inte

nan

ce

Est

ab

lishm

ent

ExplorationGrowth

Age 15 25 45 65

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

The Way Of The Future…

Process continues

ExplorationGrowth

Age 15 25 65

1 1

2

3 3

22

1

The Way Of The Future, cont’d

1 – Get a job2 – 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)

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

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

Financial Management

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?

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

Video: Savings & Chequing Accounts

Filling Out a Cheque

20

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.

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.

Bank Statement

April 30, 2002

March 31, 2002

Complete Banking Exercise

Actual Bank Statement

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.

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.

Savings and Investing

Types of Investment Options

• Term Deposits• Guaranteed Investment

Certificates (GICs)• Stocks• Mutual Funds

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

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

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

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

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

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 = 72Interest rate