Local gambling proceeds will help fund a new connector road between routes 447 and 209, widening of a major road interchange near Kalahari Resort, reconstruction at Pocono Mountains Municipal Airport and new vehicles for the Pocono Mountain Regional Police Department.The Commonwealth Financing Agency has announced Local Share Account grants to 18 Monroe County projects, totaling $3.8 million. Annual funding comes from a portion of proceeds from gambling at Mount Airy Casino. [...]
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الخميس، 7 يوليو 2016
Enjoy the fast-paced world of paintball in the Poconos
Looking for something fun to do that gets you moving and thinking at the same time? Paintball might just be up your alley.“Put down the video game controller and get outside,” said Sky Fogal, CFO of Skirmish in Albrightsville. “We try to recreate video games on our more than 50 fields. We have castles to old western to shipping containers to deep woods playing fields.”Skirmish offers 750 acres of space for paintball fun. All levels are welcome to [...]
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Source Business - poconorecord.com http://ift.tt/29D1b6v
Virgin Money latest to pull top-paying Help to Buy Isa
Virgin Money is the latest provider to slash the rate on its Help to Buy Isa, putting more pressure on first-time buyers looking to save a deposit while house prices continue to rapidly outpace earnings.
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Balance transfer war hots up as Tesco Bank launches fee-free 24-month deal
Tesco Bank has launched a new 24-month fee-free 0% balance transfer card, matching the market-leading deal launched by Halifax earlier this week.
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Thinking About Selling Avon or Beachbody? Here’s What You Need to Know
You’ve heard of beauty companies like Avon and Mary Kay, and you’ve probably attended a Tupperware party at some point in your life. Maybe you’ve even thought about getting involved.
But is it actually possible to earn a living with these direct-sales companies?
Well, one thing’s certain: The direct-sales industry is booming. It brings in over $36 billion in U.S. sales annually, and many companies claim their salespeople earn full-time incomes.
Attracted by the flexibility and earning potential, many people (especially stay-at-home parents) are flocking to sign up. In fact, more than 20.2 million people were involved in direct-selling in 2015.
Kalie Mayer decided to become a Beachbody coach, after losing 20 pounds with one of the fitness and weight-loss company’s programs. She likes her newfound career in direct sales.
“You’re always encouraged to be bettering yourself,” Mayer explains. “You’re rewarded financially and socially. Your income potential is in your hands, and your life is yours for designing. I’ve never held a ‘job’ like that.”
Though it sounds great, some industry experts and former direct-sales reps warn that certain companies are not the opportunities they claim to be — going so far as calling them pyramid schemes and scams.
Is working for a direct-sales company a good way to earn extra money? And if so, which one should you choose?
Here’s what you need to know:
How to Earn Money with a Direct-Sales Company
First, you’ll sign up to become a representative with the company of your choice. After paying a registration fee, you’ll receive sample products and marketing materials.
It’s then your job to sell the products. Most representatives do this by hosting “parties” at friends’ and acquaintances’ homes, where they demonstrate the company’s products and encourage people to order.
You’ll earn a commission for any products you sell. Some companies also offer bonuses to top sellers — such as free vacations, or in the case of Mary Kay, iconic pink Cadillacs.
But, as with all multi-level marketing companies, the real money starts coming in when you recruit other people to sign up as sales reps.
Then you’ll earn money whenever they sell an item — and when, in turn, their recruits sell something — and so on. That’s why some of these companies claim your earning potential is almost unlimited.
Dr. Tanda Cook sells botanical-based health and beauty line Arbonne in her spare time. She’s been delighted with her experience.
“Network marketing is the most brilliant business plan out there… hands down,” she says.
As for what you can earn?
“It really depends: I know people who are making everything from $500 per month to $30,000 per month,” Cook explains. “And both are working part time, it just depends if you’re treating it like a hobby or a business.”
Are Direct-Sales Companies a Scam?
It sounds like an easy way to earn money, but Market Watch points out that direct-sales companies may sometimes be too good to be true.
Market Watch lists many issues you could face, including going into debt purchasing products, working hard for little income and alienating friends by trying to sell to them.
For many companies, you have to sell quite a bit to stay “active,” and you also have to pay for trainings, brochures and products.
In the end, you might not make much money at all — or, worse, you could go into debt. The median annual income for salespeople is $2,400, Market Watch reports, a figure it says could even be inflated.
On the other hand, plenty of representatives seem happy with their lives and incomes.
“On average, a Beachbody coach can earn anything between $100 and $1,000 a week working part time,” Mayer says. “Income depends entirely on consistency, and the trend is typically that it takes about a year to build up a steady income… [We’re creating] the next generation of millionaires.”
Jamberry Nail Wraps consultant Talia Starkweather-Jones adds, “What they don’t tell you in the literature is what an avenue for personal growth it can be… I have been able to see something really shine in each of [my consultants] as they press outside their respective comfort zones.”
As for the money aspect, she agrees with Mayer and Cook: “Financially, there is a direct correlation between what you put into it and what you get out of it.”
The bottom line? Take direct-sales companies’ claims with a grain of salt, and be sure to research a company before signing up to work for it.
You’ll find many personal stories (both good and bad) online — there’s even an entire website devoted to telling the real story behind Mary Kay Cosmetics.
11 Popular Home, Health, and Beauty Direct-Sales Companies
If you’re intrigued by the idea of working for a direct-sales company, the first step is to find a product you love and would enjoy promoting. Hundreds of companies are out there, so take the time to choose the right one for you.
To get you started, here are some of the most popular options:
Avon: World-famous beauty products; $10-20 to sign up; 40% commission.
31 Gifts: Personalized tote bags and accessories; $99 enrollment kit; 25% commission.
Arbonne: Botanical-based skin-care, cosmetics, and nutrition supplements; $79 starter kit; 35% commission.
Beachbody: Weight-loss and fitness products; $39.95 to sign up, and $15.95 per month thereafter; 25% commission.
dōTERRA: Essential oils and wellness products; $35 sign-up fee, and $25 per year thereafter; 25% commission.
Jamberry: “Nail wraps” (nail polish alternative); $99 starter kit; 30% commission.
Mary Kay: World-famous beauty products; $100 starter kit; 50% commission.
Scentsy: Scented household and beauty products; $99 sign-up fee; 20% commission.
The Pampered Chef: Gourmet cookware and kitchen supplies; new consultant kit costs $159 and includes $600 worth of products; 20% commission.
Tupperware: Iconic kitchenware; $99 start-up kit; 25% commission.
Stella & Dot: Jewelry and accessories; $199 for a starter kit that includes $350 worth of sample jewelry; 25% commission.
Is This the Right Opportunity for You?
Are you passionate about a particular product? Do you enjoy interacting with people? Do you have a wide social network?
If so, you might be able to earn extra money with direct-sales companies. Just remember to proceed with caution, and not expect too much.
For example, Mayer recommends Beachbody coaching “to anyone who is passionate about fitness but who has realistic expectations of network marketing.”
She says “it’s NOT for anyone who is looking for a get-rich-quick solution… [Success] only seems to happen for those who are truly passionate about the products, who are proof they work, and who have a genuine intention to help others.”
Make sure to only sell a product you truly love, and do lots of online research before signing up. Many of the direct-sales company pages are glossy and full of photos — but sparse on details.
Take the time to read about other people’s experiences. Even if you’re not successful at sales, but are promoting a product you use and love, you’ll still be able to purchase the product at a wholesale rate for your personal use.
When asked if she had any warnings for people interested in working with Arbonne, Cook said: “Yes, get ready to have your life transformed by an amazing company with extraordinary people.”
The consensus?
If you’re careful to choose a good company and quality product, this could turn into your perfect flexible side gig (or full-time career).
Your Turn: Have you ever worked for a direct-sales company before? Do you think it’s a good way to earn money, or a scam?
Disclosure: Here’s a toast to the affiliate links in this post. May we all be just a little richer today.
Susan Shain, senior writer for The Penny Hoarder, is always seeking adventure on a budget. Visit her blog at susanshain.com, or say hi on Twitter @susan_shain.
The post Thinking About Selling Avon or Beachbody? Here’s What You Need to Know appeared first on The Penny Hoarder.
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Families fined £5.6m for term-time holiday absence
Families hoping to save cash by going on holiday before the schools break up for summer could collectively face millions of pounds worth of fines, according to new research.
In the last academic year (2014/15), parents in England and Wales were fined an estimated £5.6million for unauthorised holiday absence, a Freedom of Information request by Santander reveals.
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Nine Things I Would Do Differently for My Finances and My Career If I Graduated Today
This past May, a person that I have a lot of respect for graduated from college. This person has a ton of character and a ton of humor and warmth – he’s just one of those people that you want to have around you in life.
A few days after he graduated, he asked me a very simple question:
If you were in my shoes and graduating from college all over again, what would you do differently?
He was obviously trying to tap my life experiences over the last fifteen or so years since I graduated. During that time, I’ve had two careers, built a surprisingly large business from scratch, married, had three children, bought a house, paid off piles of student loans and other bills and a mortgage, and built a pretty wonderful social circle and role in my local community.
The thing is, there are still a lot of things I would do differently if I could do them all over again.
Rather than answering right away, I told him I’d give the question some serious thought and write him a thoughtful note. I eventually came up with a list of about twenty things, of which I’m including nine of them (it’s actually most of them combined into nine principles) below because these are the ones that I feel have a direct impact on finances, both short term and long term.
So, here’s my full answer to this slightly modified version of my friend’s question: if I were suddenly 22 years old and graduating from college all over again, what would I do differently in terms of my career and my finances? In other words, what steps would I take that are a bit outside of the obvious “get a job and start paying bills” steps that everyone takes after graduating?
I Would Look at My First Job Solely Through the Lens of Building Experience and Skills
When I first started searching for a job after college, I put a pretty high premium on salary and stability. I wanted a job that paid reasonably well, but just as importantly, I wanted a job that wasn’t struggling financially and wasn’t likely to lay me off immediately. I researched the places I submitted my resumes to and didn’t bother with places that had a history of lots of pink slips or instability.
In the end, I got a job that met those needs. The organization I worked for was very stable and didn’t have any history of firing people without cause. I did start off on a one year contract, but it was a contract that led straight into full time employment provided my initial project went well. The pay was also solid, though not stellar. I believed it was a place that I could work for a long time and, indeed, I worked there for almost six years.
The problem was this: it wasn’t an environment that really rewarded building a resume. Sure, I added some very nice completed projects to my resume, but the organization did virtually nothing to encourage skill building and it did nothing to encourage working on cutting-edge stuff and it did virtually nothing to encourage networking. If you wanted those things, you did them on your own.
A much better approach would have been to look at my first job through the lens of building experience, building skills, working on cutting-edge things, and building a professional network. Salary and stability should have been very secondary in that search.
Why? Your first job (or your second… or your third…) is rarely the job you wind up settling into over the long term. Instead, it’s a stepping stone to bigger and better things.
Keep that first job wholly in the context of being a stepping stone for bigger and better things. What makes a job a good stepping stone? Skill-building opportunities. Network building opportunities. Useful experience. Those are the things that will lead you to the next rung on the ladder.
Don’t get me wrong, it’s nice to earn a great salary, but if that comes with a job that sucks down your hours and causes your career progress to stagnate right off the bat, you’re going to find yourself never climbing above the first rung or two in your career.
I Would Keep Living as Cheap as I Did in College
If you follow the logic of that first tip, you’ll quickly realize that the first job you get out of college will likely be a low salary job. Yes, it will offer some great tools to help you build a great career, but it won’t offer a lot of money, at least not in the immediate future.
That’s why, if I found myself graduating all over again, I would do everything in my power to hold onto the ultra-frugal life patterns I used in my college years.
During those years, I lived about as cheap as humanly possible. I pretty much stuck to a rotation of very cheap meals, largely selected by what was on sale at the store – eggs, ramen noodles, spaghetti, chicken breasts, apples, bananas, and peanut butter were my constant friends. I went out a lot, but almost entirely to things that were free, like free concerts and events with no cover charges or community events in the park.
I lived like that in order to keep my student loans low; even at that point, I was aware enough to recognize that big student loans would be a problem later on in life.
My biggest financial mistake after leaving college was allowing my spending to very quickly inflate to fill up my new salary. I didn’t spend all of that money on anything very memorable, either; looking back, the only thing that I can remember spending a lot of money on that was actually memorable was my honeymoon with my wife. Almost everything else is a blank slate, which basically means that most of it (aside from covering basic needs) was a waste of money.
If I had instead chose to stick with my college spending routines (or close to it), I would have paid off my student loans and car loans within two or three years and never accumulated any significant credit card debt.
Don’t let the siren song of income convince you to start escalating your spending when you’re freshly out of college. Keep living in much the same way you always have, be choosy about what areas of your life that you spend more on, and use that money instead to pay off your debts and cover any expenses related to improving your career.
I Would Spend Significant Spare Time Continuing to Build Skills and Certifications
As I mentioned above, the job I got directly out of college had a nice salary and some interesting challenges, but it didn’t really offer many opportunities for building new skills or earning certifications within that job. If I had it to do over again, I would have chosen a job with a lot of future-building features rather than one with a strong salary, if given a choice.
But what if the only job I could get was one that didn’t actively support skill building or certification earning? That was effectively my situation, and I made a bad choice. I just focused on the tasks at my job itself and didn’t bother to seek out additional certifications or additional skills.
If I had it to do over again, I would be devoting ten hours a week minimum to cultivating new skills and earning new certifications within my field, whether in the workplace or outside of it.
Naturally, I’d do my best to find ways to do this within the constraints of my job. I would have approached my boss to discuss spending some time on certifications or on taking classes at the nearby university, making the case as to how these endeavors would directly help my job.
However, if that didn’t happen at work, I would have done these things in my spare time. You can prepare for and take all kinds of certification classes in the evenings and on weekends.
I also would have looked for projects to work on that were related to the skills I needed to cultivate for work and for my resume – again, within my job if possible and outside my job if necessary.
How would I have done that? Well, here are a couple of possibilities…
I Would Get Involved in Civic and Professional Organizations as Soon as Possible
During my first year at my new job, I joined an informal group of people who were recently graduated from college and would go out for drinks after work most nights. I figured this would be a great way to start building a professional network and making some friends in my field.
I was wrong.
It turned out that most of the people in this group weren’t really interested in their careers much at all. They were largely interested in drinking, showing off their latest purchases to each other, eating out at the most expensive places, drinking, going to clubs, badmouthing every coworker over the age of thirty behind their back, and drinking.
I stuck with this circle for years and made several casual friends, but exactly zero of them have any impact whatsoever on my professional life today and I keep in touch with exactly three of them in the vaguest of ways.
On the other hand, I eventually joined a few civic organizations in my area. The people in those groups were actually interested in improving the community and helping each other out. Thanks to that group, I have several very strong personal relationships and have had tons of little “helping hands” in my professional life (and some offers of some pretty big “helping hands”).
More than anything, the last fifteen years have taught me that it’s well worth your time to be selective about the people you spend your free time with. If you spend your free time with people who are committed to helping each other improve and helping the community at large, you’re going to find pretty quickly that a rising tide lifts all boats.
In my experience, the best place to start building a social and professional circle like this is in community organizations and professional organizations. You can start by looking at community organizations in your town, particularly ones dedicated to community service, and join. In larger cities, there are often professional organizations that meet regularly, so look for organizations and groups that are connected in any way to your professional career and give that group a shot, too.
Yes, it probably won’t be as immediately “fun” as going to a club (if you’re an extrovert) or engaging in your favorite hobby (if you’re an introvert), but it will end up being enjoyable once you get involved in those organizations and the activities that they run. You’ll start connecting with people that have character, that have good financial habits, and that have a strong professional background. Those are great people to have in your professional network and your social network as well as a great place to connect more deeply with some of them and build new friendships.
I Would Start Cultivating Mentors and Reliable Peers Immediately
One of the first things you should do once you start your first real job in your career path is to start looking for two types of people and build strong relationships with them immediately.
The first type of person is a mentor. A mentor is simply someone who has found success in the career path you want to follow and can offer advice to you on how you can succeed, too. Look for someone who is much further along in their career than you are, but someone who is widely respected by everyone at work (or perhaps someone that works in your field locally, though not necessarily at your business, but still has that wide respect). You’ll figure out who these people are pretty quickly if you listen and pay attention.
Take the time to get to know this person. Be very respectful (though not reverent) and when they tell you something, don’t just blow them off and think that you “know better.” A person who has built respect in their field over a lot of years isn’t going to waste your time or their time feeding you stuff that isn’t true – they’re going to tell you things that actually help, even if it doesn’t line up with what you think or what you want to hear. In exchange, help the mentor when you can by taking on things that he or she might not want to do, taking them out for lunch, or helping with other things that he or she might help with.
The other type of person is what I call the “reliable peer.” Look for people who are near your level on your career path who have a lot of positive traits. They tend to get things done when asked. They don’t talk negatively behind peoples’ backs. They don’t cause drama. They usually have at least some skills to offer. Those are the people you want to befriend.
People with those traits are usually the quiet ones, I’ve found. They’re the people who aren’t out there talking at the watercooler constantly. They’re the people who don’t say much when the office gossip is being passed around. They’re the people who don’t grab for attention all the time and they’re also the ones who don’t get attention for failing to deliver, either. They usually just quietly get the job done.
Make friends with them. Help them out, and don’t be afraid to ask for their help when you’ve built up some rapport with them and you actually need the help. Never, ever talk negatively about them behind their back. Socialize with them – in particular, be willing to dive into their interests a little with them – I’ve found that there’s no better way to bond with someone professionally than to learn about their hobbies with them and find appreciation of those hobbies.
You’ll find that these relationships – mentors and reliable peers – will help you again and again throughout your career. They’ll provide references, positive word of mouth, opportunities, and countless other assistances, most of which you’ll never directly see. They also tend to be very reliable people who will stick by you when the chips are down.
If I Didn’t Have a Job Related to My Area of Study, I Would Take a Non-Career Job as Soon as Possible
I was rather lucky to get a job that matched up well with my area of study right out of college, but what would I have done had I not found such a job?
First of all, I would have taken any job I could find, anywhere. Ideally, this would have been a job that had hours that didn’t directly interfere with my continued search for a job in my desired career path. I would have tried to get a night shift or something like that so I could interview during the day.
Second, I would have done everything in my power to keep my skills fresh. If that meant taking certification classes, I would have done so. If that meant doing volunteer work that used my skills, I would have done so. If that meant starting a side business of some kind, I would have done so. This is how I would have filled my spare time, along with the professional and civic organizations mentioned above.
Finally, I would have done my absolute best to stay independent from my parents. Yes, there might have been some financial benefit in living with them, but there would have been reduced job opportunity for me there. I would have done my best to live in an area where it would be easy to find and interview for lots of jobs with my skills. If that happened to coincide with living with my parents, then that would have been okay, but my priority would have been seeking out good jobs.
The last thing on earth I would have done if I were in this situation is sit at home, not working and not building skills and not building professional relationships. That’s begging for your skills and opportunities to atrophy.
I Would Start a Serious Physical Fitness Routine from Day One
During my early college years, I had to walk more than a mile each way to go to most of my classes. During my later college years, I usually biked about four miles each way to go to most of my classes. During those walking and biking sessions, I usually had study materials for at least a couple of classes in my backpack, along with other things (like lunch and the book I was currently reading).
That activity alone kept me in reasonably good shape, but after I graduated, I no longer had that routine. I drove to work and had a parking spot pretty close to the door. I ate a lot less healthy, too, particularly thanks to rich lunches with my coworkers and drinks and bar snacks after work with other professional acquaintances.
I gained weight. My physical fitness started to decline. I found myself with less energy and less motivation. It’s a rut that got even worse when I started working at home, mostly due to the fact that my “commute” involved walking across the hall at my house.
While I’ve found that controlling what I eat is a truly powerful tool for weight management, that doesn’t help with the sense of feeling in shape and ready to take on physical activity at a moment’s notice. I feel better when I’m in shape and, to a lesser extent, I feel more confident around others.
My attempts at getting in shape since those days has been challenging to say the least. The best approach I could have possibly taken would have been to establish a better fitness routine from the very first day I left college.
How does this help financially? For starters, it’s going to help with long term health care costs, but perhaps even more than that, it’s going to help greatly with energy and focus, something that’s necessary in abundance in the early stages of building a career. Whether you’re a first year teacher or just starting in a research lab or whatever it is you might be doing, that extra energy and focus that a fitness routine can bring to the table will provide a huge career benefit.
I Would Gobble Up Every Dime of Retirement Plan Matching from Day One
From the very first day that I was earning a substantial income at my job, I would contribute at minimum 10% of my income to retirement. Actually, this is something I did, but I consider it to be the single smartest thing that I actually did in my post-graduation years, so I’m including it here.
If your employer offers a retirement plan that includes matching funds, meaning that they’ll contribute some money if you contribute some money, contribute as much as you can to get every dime of their matching money. That’s free money that’s essentially part of your salary – don’t leave it on the table. I am thankful every single day that I was smart enough to do this at my first job. I gobbled up every dime of matching funds at that first job and today I have a pretty solid retirement nest egg building because of that decision.
If your employer doesn’t offer matching, go to a reputable investment firm – I personally like Vanguard – and open a Roth IRA for yourself. Set up an automatic contribution plan that equals 10% of your salary each year and put all of the money into a Target Retirement fund that’s close to the year you turn 65 (for instance, a person who is 25 in the year 2020 would want to use the Target Retirement 2060 fund).
(If you’re making more than $55,000 a year, you’re going to hit the annual contribution cap for a Roth IRA, and if you’re making over $100,000 a year, you’re going to be hitting income limits for a Roth IRA, so in those cases, you’ll want to do some additional homework. However, if you’re hitting numbers like that straight out of college, you’re already doing quite well.)
You will never, ever, ever regret doing this. Ever. The money you put aside for retirement at age 22 or 23 or 24 (or even a bit later) is going to have lots and lots and lots of years to grow, and the power of compound interest is going to make that number nice and big for you when you do get old. It is far better to contribute 10% early on than be forced into contributing 20% or 25% or more in your 40s or 50s to have any hope of retiring on time.
If you really want to push things, contribute more than 10%. Doing so is going to open the door to early retirement for you – yes, you’ll likely be able to walk out the door well before age 60 if you contribute that much and you’ll never have to work another day in your life. Imagine having children when you’re in your thirties and retiring the day they leave for college. Contribute 15% of your income to retirement starting at age 22 and that’s quite realistic.
I Would Avoid Credit Cards Like the Plague
This one’s simple. I absolutely would not touch a credit card, period, until I had all of my other debts under control. There would be no borrowing money to buy things until I had a firm financial footing.
Why? I learned the hard way about the allure and convenience of credit cards, as they turned into a five figure debt at 20% interest within a few years (yes, do the math – that’s thousands of dollars in interest per year that just went down the tubes). It is incredibly easy to find yourself in that situation, particularly when you’re not focused that much on your finances.
If there’s one simple financial rule that I recommend you follow after college and when you get your first career-oriented job, it’s this: don’t get a credit card until you’re essentially debt free. Not only does this prevent you from compounding your debt problems, it also ensures that you really understand how much work it is and how much time it takes to dig out of debt.
Instead, use your debit card for convenient purchasing if you need it. Use it as a credit card when buying things (hit the “credit” button whenever you have the option) and keep careful tabs on your checking account balance as you go to avoid overdrafting. Doing this will make sure that you never slip into debt due to poor accounting or a lack of financial focus. It’s one simple rule that will keep your finances clean for those crucial first few years and ensure that you don’t wind up in a desperate financial state when you turn thirty, one that will take most of your thirties (and probably your forties) to dig out of.
Final Thoughts
I actually didn’t do most of these things during my early career, to my own regret. I did manage to save for retirement and I did manage to cultivate a couple of solid mentors, but I didn’t do so well in other areas.
How did that work out for me? I eventually found myself basically running in place financially and with my career within a few years. I was buried in debt, I didn’t have a strong professional or social network, I didn’t feel like I was moving forward in my career at all, and I didn’t feel all that good to boot.
I forced myself to start making some very hard changes and I adopted many of the principles listed here. I changed career paths and got a fresh start on things and things eventually turned out pretty well.
Still, I largely wasted most of the first decade of my post-college life because I didn’t follow these principles. Rather than grinding my gears to turn this ship around, I could have been blasting into orbit with my career – as good as things are today (and I think they’re pretty good), they could have been so much better.
Good luck.
The post Nine Things I Would Do Differently for My Finances and My Career If I Graduated Today appeared first on The Simple Dollar.
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10-year fixed rate mortgage costs tumble to record lows
Rates on long-term fixed-rate mortgages are being slashed, with HSBC today launching the cheapest 10-year fix on record, but the Coventry Building Society is expected to launch an even better value decade-long lock in tomorrow (Friday 8 July).
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House price annual growth slows to 8.4%
Annual house price growth slowed down to 8.4% for the three months to June, compared with May’s figure of 9.2%, according to the Halifax House Price Index.
The measure compares a three month period with the same period a year earlier. June’s growth figure was also the lowest since July 2015 (7.8%).
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6 Dumb Things the Internet Thinks Your Boss Should Know About Millennials
My fellow millennials, no one in the world of business knows what to do with us.
When a millennial enters an office, how does one respond?
Do they say hello, but, like, Snap it? Do they need to fold our cubicle walls into a makeshift ping-pong table? Should they have prepared a welcome basket of kale and burritos, a cleverly worded card assuring us they’re on the house?
The confusion over just how to welcome our generation into the workplace has inspired a market for consultants and a slew of blog posts on the topic.
One consultant, 52-year old Lisa McLeod, even charges $25,000 for a keynote address sharing her expertise on our confounding generation. If she brings along her bonafide millennial daughter, 23-year-old Elizabeth, they command a cool $30,000.
What are these people saying about how to manage us?
I scoured the internet for tips from those who claim to know our generation best. Here’s what they want our bosses to know:
1. We like to work in groups… but also by ourselves.
“Millennials have a reputation for ‘crowdsourcing,’ and they often do tend to want to work in groups,” advises Chad Holverson at When I Work. “But don’t let that make you think that they are unable to make decisions on their own.”
In fact, “millennials are at their creative best when relaxed and left alone to experiment,” suggests Tom Kaneshige at CIO.
OK, good. Glad to clear that up.
2. We know how to use technology, but we don’t always want to.
Basically, when it comes to tech, we’re smart and old people are dumb, so listen to us. We know the app that will do the thing better and faster and cheaper… oh no, there goes my job.
Of course, “millennials crave in-person collaboration and abhor the faceless vacuum that technology has brought,” says Holverson.
That’s true. As most of our friends are just robots and memes, the workplace is a good opportunity for face time and human touch.
3. Near-constant praise our whole lives makes us crave feedback at work.
“Today’s young worker requires a kind of care that flies in the face of generations past,” explains Kaneshige.
But we’re not looking for never-ending praise, per se.
Rather we “want to ‘keep score’ on how [we’re] doing in all aspects of [our] career,” according to Business Insider. “[We] never want to have a surprise,” startup CEO Jeff Lawson told BI.
Surprises are scary, after all.
4. If you convince us we’re making a difference, you can pay us less.
“Looking to hire millennials? Well, offering a bigger paycheck may not be the best way to go,” CNBC reports in a convenient interpretation of data.
“Millennials are motivated by a sense of progress, the opportunity to be creative and a sense that what they are doing matters,” writes Holverson.
We don’t get into jobs just for the money, like those greedy baby boomers might have done.
“Millennials want to own a project, run with it and make a real, measurable difference,” explains HR professional Emily Disston on The Muse.
What do we need money for, anyway? Baby boomers are still paying our rent.
5. If you’ll say, “Jump,” we’ll ask, “But, why?”
“Pivotal events like Woodstock and the Student Nonviolent Coordinating Committee (SNCC), the Vietnam War, Civil Rights Movement, Sexual Revolution and the Cold War had profound effects on millennials’ parents and fostered inquisitive children who were often asked for their opinion,” says Disston.
Also, have you seen how boring offices are? We need to entertain ourselves somehow.
6. WE NEED A PING PONG TABLE. Er, no, money. We need money.
No, but seriously, please pay us.
“All my friends have been wowed by foosball tables and all these benefits,” Elizabeth McLeod, the $5,000 millennial, told the Wall Street Journal, “but when it comes down to the nitty-gritty and everyone hates their job, no one cares about foosball tables.”
You know what? On second thought, never mind. Don’t manage us at all. We prefer to be led.
Your Turn: Are you a millennial? What do you really look for in a workplace?
Dana Sitar (@danasitar) is a staff writer at The Penny Hoarder. She’s written for Huffington Post, Entrepreneur.com, Writer’s Digest and more, attempting humor wherever it’s allowed (and sometimes where it’s not).
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10 Fast-Growing Careers for People Who Hate Math
When the nightly news or government agencies report on jobs with the highest demand, they are almost always talking about jobs in STEM fields – science, technology, engineering, or math. Most STEM jobs are not only high paying, but growing in number by the day. And if you have what it takes, pursuing a degree in any STEM field can be a smart way to snag a job with high pay and excellent job security.
But, what if you absolutely hate math? Unfortunately, many people who cannot stomach math or hate crunching numbers get scared away from degrees in science, technology, and engineering for this very reason. While not all STEM jobs require the use of math every day, the vast majority require you to earn a degree that includes high-level math as part of the core curriculum.
10 Hot Jobs for People Who Hate Math
The good news is, there are a lot of fast-growing, in-demand jobs that don’t require too much math at all. You might have to take some basic math courses to earn your degree, but high-level math simply isn’t necessary. Here are 10 of them.
Web Developers
- Mean annual wage: $70,660
- Expected growth (2014-2024): 27%
Web developers use a wide range of computer skills to create new web-based applications and domains. Using their skills and training, they write code to create the aesthetic look and back-end functionality of websites. That may sound mathy, but web development has more to do with language and logic than quadratic equations.
According to the BLS, web developers occasionally earn two-year or four-year degrees in computer science or a related field. However, many people get hired in these jobs based on their ability to write code in certain programming languages. And while a broad range of computer-related skills are required, heavy math isn’t.
Through 2024, the United States Department of Labor expects to see a 27% increase in the need for web developers. That could mean as many as 39,500 new jobs will be added nationwide. In 2015, web developers also earned healthy wages that averaged out to $70,660.
Film and Video Editors and Camera Operators
- Mean annual wage: $55,740
- Expected growth (2014-2024): 11%
You may have noticed that people watch more TV, movies, and hilarious cat videos than ever these days, most of which are accompanied by commercials. Well, someone’s got to film and edit all that video footage. And that’s to say nothing of the gripping film on corporate responsibility that your human resources department made everyone watch at the company retreat.
To become a camera operator or video editor, you typically need to get a bachelor’s degree in film, broadcasting, or communications, where you’ll learn the principles of filmmaking as well as how to use cameras and editing software.
From 2014 to 2024, job opportunities for film editors and camera operators are expected to increase 11%, which would add 6,400 new jobs in the process. In 2015, the national annual mean wage for this profession was $55,740.
Wind Turbine Service Technicians
- Mean annual wage: $53,030
- Expected growth (2014-2024): 108%
As businesses, states, and municipalities across the U.S. look for more and cleaner ways to create energy, the need for qualified wind turbine technicians is expected to rise. These professionals use their skills and training to build, maintain, and repair wind turbines that harness wind to create electricity.
The Bureau of Labor Statistics reports that most wind turbine service technicians worked in electrical power generation last year, but that many also worked for utility companies. They almost always work outdoors and may be required to climb especially high ladders to work on wind turbine components.
Because wind energy is still in development, jobs in this field are expected to surge dramatically. The Bureau of Labor Statistics reports employment for these workers could increase by as much as 108% through 2024. (Likewise, demand for solar photovoltaic installers is projected to increase 24%.)
To get started, notes the BLS, you can usually receive training for this job during a two-year stint in technical school. As of 2015, the national annual mean wage for these workers was $53,030.
Occupational Therapy Assistants
- Mean annual wage: $58,340
- Expected growth (2014-2024): 43%
Occupational therapy assistants perform a wide range of tasks and therapies under the supervision of a licensed occupational therapist. Depending on their role, they may provide therapies and support activities and encourage patients to complete their exercise or therapy assignments. They are also in charge of filling out forms and monitoring their clients’ progress and success.
Most of the time, occupational therapy assistants earn a two-year degree from a community college or technical school. Subjects studied during these programs include psychology, biology, and pediatric health, among others.
Because health care continues to be in demand all over the country, employment for occupational therapy assistants is expected to increase an amazing 43% from 2014 to 2024. If that’s the case, that means 14,100 new jobs will be added nationally over that time frame.
Occupational therapy assistants also earned high wages last year. In 2015, the national annual mean wage was $58,340.
Physical Therapy Assistants
- Mean annual wage: $55,250
- Expected growth (2014-2024): 41%
Physical therapy assistants provide a wide range of support for physical therapists and their patients. They help clients perform their activities and therapies, report patient status and progress to their supervising therapist, and educate family members and clients on how to fully recover after treatment.
According to the BLS, 43% of physical therapy assistants worked in physical therapist’s office in 2014. Another 23% worked in state, federal, and private hospitals.
To get started in this career, you usually need to earn a two-year degree from an accredited physical therapy assisting program. While some math will be required during school, you won’t rely heavily on it once you graduate.
Better yet, this job is expected to grow by leaps and bounds over the coming years. From 2014 to 2024, job openings for physical therapy assistants are expected to increase 41% nationally. Meanwhile, physical therapy assistants earned average wages of $55,250 in 2015.
Interpreters and Translators
- Mean annual wage: $48,460
- Expected growth (2014-2024): 29%
As the use of diverse languages spreads across the United States, the need for qualified interpreters and translators can only rise. In addition to translating different languages for businesses, these individuals work directly with others through social services, government agencies, and elsewhere. According to the Bureau of Labor Statistics, around 20% of interpreters and translators were self-employed in 2015. Further, around 29% worked mainly in professional, scientific, and technical services.
Becoming an interpreter or translator usually begins with a bachelor’s degree in English or another language. While some math is required for all bachelor’s degree programs, it isn’t something you’ll need to use every day once you get started in your career.
Better yet, this job is in huge demand. As the U.S. Department of Labor notes, jobs for interpreters and translators are expected to surge 29% from 2014 to 2024. As of 2016, the national annual mean wage for this profession was $48,460.
Mental Health Counselors and Marriage and Family Therapists
- Mean annual wage: $43,190
- Expected growth (2014-2024): 19%
If you prefer helping people to crunching numbers, there’s a demand for qualified therapists to help families and and individuals manage emotional and mental health disorders. They listen to clients and ask them questions to diagnose and treat disorders such as anxiety or depression, and help clients adjust to difficult changes in their lives, such as divorce and layoffs.
Counselors and therapists typically need a master’s degree in psychology or clinical therapy, as well as a license in their state, which requires completing an internship or residency and passing a state-recognized exam.
That may sound like a lot of work just to get out of math class, but the effort may be worth it: Job opportunities in this field are expected to increase 19% through 2024, adding a whopping 31,400 positions across the U.S. Meanwhile, the annual mean wage was $43,190 nationally in 2015.
Athletic Trainers
- Mean annual wage: $46,940
- Expected growth (2014-2024): 21%
Athletic trainers provide a range of services to athletes in their care. According to the Bureau of Labor Statistics, they evaluate existing injuries, create programs to build muscle strength and stamina, prescribe methods that help people avoid injury, and develop rehabilitation programs for athletes.
The BLS reports that many athletic trainers work in educational settings, but that hospitals and recreational centers are also popular places for employment. To begin this career, you usually need to earn a bachelor’s degree in exercise science, which will include health-related courses such as biology, anatomy, physiology, and nutrition.
Because of the demand in this field, employment for athletic trainers is expected to increase 21% from 2014 to 2024. The national annual mean wage for 2015 was $46,940.
Mechanical Insulation Workers
- Mean annual wage: $49,970
- Expected growth (2014-2024): 19%
Mechanical insulators are charged with applying insulation to equipment, pipes, duct work, or other components of business and factory buildings. They also remove old insulation and replace it with a newer, more energy-efficient product.
According to the BLS, the largest employer of these workers in 2014 was the building equipment contractors industry, which employed 55% overall. However, another 20% of these workers made their living working with drywall and insulation contractors.
Between the ongoing needs of new construction and older buildings that need to be retrofitted with better insulation, demand in this field is expected to be high. Through 2024, employment is expected to increase 19%, adding 5,800 new jobs in the process. In 2015, these workers brought home around $49,970 on average.
Dental Hygienists
- Mean annual wage: $72,720
- Expected growth (2014-2024): 19%
Dental hygienists provide support services to dentists. They clean patients’ teeth, check for cavities and other abnormalities, and prepare patients to see the dentist. Often times, they also keep records and patients’ charts up-to-date, documenting their procedures and cleanings.
Dental hygienists usually work in dentist offices, although some work for government agencies and other employers. To get started in this career, you need a two-year degree from an accredited dental hygiene program.
According to the BLS, job openings for dental hygienists could increase by as much as 19% from 2014 to 2024. Plus, dental hygienists earned great wages overall. In 2015, the national annual mean wage worked out to $72,720.
The Bottom Line
Hate math? You’re certainly not alone. The good news is, there are plenty of careers to consider if you really, really can’t stomach the idea of working with numbers or taking calculus to graduate. And with any luck, the only number you’ll have to worry about is the one on your paycheck.
Do you use math on a regular basis at your job? Do you enjoy working with numbers?
Related Articles
- Eight Jobs Where You Determine Your Salary
- Why You Should Consider Trade School Instead of College
- Why Taking a Pay Cut Was the Best Career Move I Ever Made
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What’s the Difference Between a 401(k) and an IRA? And What’s a Roth?
When I got my first “real person” job in my early 20s, the human resources director at my company went over the new employee packet so quickly it made my head spin.
When she got to the part about the company’s 401(k) options, my eyes glazed over.
401(k), IRA, Roth — what does this alphabet soup mean?
We found out so you won’t have to wonder anymore.
What is a 401(k)?
The most important distinction is that a 401(k) is sponsored by an employer, so if you’re not working, you can’t sign up for one. Your employer usually works with an investment company to administer the account.
Some employers will offer a 401(k) match, which means that if you contribute a certain percentage of your paycheck to your account, they’ll add an equivalent amount — this is a huge perk!
Most 401(k) accounts offer mutual funds, which are composed of stocks, bond and money market investments.
Your employer may make you wait a while before giving you access to money in your 401(k) account, a process known as vesting. You can begin making contributions immediately, and your employer will, too — you just can’t access your employer’s contributions for a certain period of time.
However, the money you contribute is always yours, and once you’re fully vested, any money in the account is yours — you can take it with you if you leave the company. Here are a few options to help you decide what to do with your 401(k) if you’re planning on changing jobs.
A 401(k) account is tax-deferred, meaning you can invest part of your paycheck before taxes are taken out. You do, however, have to pay taxes on the money you take out of this account.
“In a traditional 401(k), you get an immediate tax break,” said Aldo Waker, a personal finance and retirement advisor for Waker Financial in Austin, Texas.
“So, if you make $50,000 and you contribute $5,000, you will only be taxed for wages of $45,000. That $5,000 will grow over time and when you are ready to make a withdrawal, you will then pay income tax on the amount you withdraw.”
As an individual, you can contribute up to $18,000 in pre-tax money per year to your 401(k). The total annual contribution to your account, which also includes money deposited by your employer, is limited to 100% of your compensation or $53,000 (whichever is lower).
If you’re 50 or older, you can make “catch-up” contributions of up to $6,000 per year on top of the $18,000 limit, so your total annual contribution limit is $59,000.
The IRS also lets you make after-tax contributions to your 401(k), which is how you can reach those annual contribution limits.
If you withdraw money from your 401(k) before you reach the age of 59 1/2, you’ll pay a 10% penalty. Some exceptions apply, such as medical expenses or if you’ve been called to active military duty.
A 401(k) also requires you to start taking annual distributions — known as required minimum distributions (RMDs) — at the age of 70 1/2. The IRS has a nifty required minimum distribution calculator here.
The IRS created this rule so that savers would begin paying taxes on the money they’ve been socking away for decades.
Some plans let you borrow up to 50% of your vested account balance, up to a maximum of $50,000. You must repay the loan within five years.
What is an IRA?
This type of retirement account is technically called an Individual Retirement Arrangement. If your employer does not offer a 401(k) or you aren’t working (calling all students and stay-at-home parents!), then an IRA is the account for you.
Like a 401(k), an IRA offers an immediate tax break — you’re taxed when you withdraw the money, not when you put it in.
The contribution limit for an IRA is $5,500 per year, which is much lower than a 401(k). When you turn 50, you can contribute up to $6,500 per year to give yourself an extra cushion before retirement.
Most IRA providers do not require you to have a minimum amount of money to open an account. However, some mutual funds have minimum purchase requirements, usually between $500 and $1,000.
Like a 401(k), the IRS charges you a 10% early withdrawal penalty for distributions before the age of 59 1/2. The IRS does offer some exemptions from this penalty, such as paying for college, buying your first home or covering certain medical expenses.
With an IRA, you can choose any investment company you want. You can also choose to invest your money in mutual funds, individual stocks, bonds and annuities.
What is a Roth?
A Roth is a type of 401(k) or IRA. (The ones we discussed above are traditional versions of those two accounts.)
Like the traditional 401(k), a Roth 401(k) is only an option if your employer offers it. There are no income limits on a Roth 401(k).
Nearly anyone can open a Roth IRA, which does have an income limit. If you’re single and you make more than $132,000 a year ($194,000 if you’re married), you aren’t eligible for a Roth IRA.
With Roth accounts, you don’t get an immediate tax break — you’re contributing money you’ve already paid taxes on. Instead, you get a tax break when you take money out of the account.
If you contribute $5,000 at the age of 25, that money will most likely double or triple by the time you hit retirement — and you won’t pay taxes on those investment earnings.
The contribution limits for a Roth IRA or Roth 401(k) are the same as their traditional counterparts — $5,500 for an IRA and $18,000 for a 401(k). All the catch-up allowances apply as well.
A Roth IRA has no mandatory distribution requirement, unlike a traditional IRA, which requires you to withdraw money once you reach age 70 1/2.
If you are over 59 1/2, you can withdraw as much as you want from your Roth IRA or Roth 401(k) without paying taxes. Your money must have been in your account for at least five years to withdraw it without penalty.
Which Account is Right For You?
Advisors agree: If your company offers a 401(k) account and will match your contribution up to a certain percentage, you should take advantage of this perk first.
Beyond that, there’s no one-size-fits-all answer — advisers will tell you that it depends on your personal situation.
Some advisers say it’s best to first contribute to your traditional 401(k) enough to capture the employer match. Then, consider opening a Roth IRA and contribute the maximum amount. Finally, go back to your 401(k) and contribute there until you max it out.
If your employer doesn’t offer a 401(k) match, it’s really up to you to decide how you want to save for retirement.
Some of your strategy may depend on the investment options available. Since your employer offers your 401(k) account, your investment options may be more limited there than with a traditional or Roth IRA.
You should also compare plan fees — which account costs you the least amount to save?
It also depends on whether you want tax savings today or at retirement. Having both traditional and Roth accounts reduces some of the tax burden when you retire.
Another thing to consider: Your saving style.
Employer-sponsored 401(k) accounts are the easiest way to save for retirement. Because 401(k) contributions are taken right out of your paycheck, you never see that money as spendable. This kind of automatic contribution can be good for people who have a hard time saving money.
Some traditional and Roth IRAs let you make automatic contributions from your bank account, but for some people, making contributions directly from your paycheck — before the money ever hits your bank account — is the best option.
If you don’t have access to a 401(k), you’ll need to decide between a traditional IRA and a Roth IRA. To help clients make that decision, Tina Powell, chief executive officer of New Jersey-based investment firm SheCapital, said she asks them to consider their age and their income.
If you expect to earn more money later in life than you are now, a Roth may be a better fit, as you’ll pay income taxes only on your (hopefully) lower, early-career salary, Powell said.
However, if you need an immediate tax break, a traditional IRA may be a better option.
Of course, don’t just take our word for it. There are pages and pages of rules related to each type of retirement account described above, so consider working with a financial planner to make the best plan for your future.
No matter which account you use, experts say start early.
“What’s really important for young people is to save for retirement, period,” Powell said.
Your Turn: Which type of account are you using to save for retirement? Why did you choose it?
Sarah Kuta is an education reporter in Boulder, Colorado, with a penchant for weekend thrifting, furniture refurbishment and good deals. Find her on Twitter: @sarahkuta.
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Girls cost more to raise than boys, claims new research
Girls cost between £300 and £600 a year more to raise than boys, according to new research.
Sainsbury’s Family Finance Report suggests it is around £300 a year more expensive to raise a girl aged 0-5 – at £5,767/year compared to £5,475 for boys.
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Half a million first-time buyers sign up for Help to Buy Isas
Over half a million people have signed up for a Help to Buy Isa since the scheme launched in December, according to recent figures from the Treasury.
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7 Nontraditional Gigs for Wedding Lovers
By Kimi Clark Maybe you love weddings, and maybe you don’t. But either way, there are billions of dollars being made every year in the wedding industry (yes that’s billions, with a B!). Wouldn’t you like a cut of that? Even if you’re not a member of the elite directory of professional wedding services, that’s […]
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