Posts Tagged ‘economy’
Written on January 30th, 2012 by Samanthano shouts
The great recession that we are in has meant that a lot of Americans are cutting back on a lot of usually affordable items. Making ends meet with less income is a way of living that a lot of us are getting used to, until we can do better.
Experts are noting that unemployment has gone down; however, more detailed studies reveal that the numbers are illusionary because those that have run out of unemployment benefits or are not eligible for benefits are not counted as being unemployed.
As time goes on, many American’s unemployment benefits are being exhausted and they have become ineligible to reapply. However, this does not mean that these people are working—and at most they may be underemployed. Then there are those that are not eligible, like those with failing businesses that can no longer stay afloat. These people are not being counted by the general census for unemployment accuracy—this is the conundrum.
Among many other things, what we are left with is a class of people that have to pay living expenses with much less. For those that are living with one income when your household once had two, or you are underemployed, you may appreciate this information.
Basic Survival
Being creative is a skill that can get you far in times like these. What it really comes down to is making it from day to day.
For those fortunate to still be in the workforce, plan out all of the necessary things that you need for the week. You need to be sure to get to work everyday, so be sure to have that expense covered.
Buy your transportation fare card ahead of time. Some employers have a program that allows you to purchase transportation fare cards, like a metro card, directly from the employer. The money is taken out of your paycheck before your deductions are calculated from your gross pay. This may alleviate some financial burdens for you later on in the year—ask your human resources department about it.
If you drive to work, be sure to put aside gas money. Avoid parking tickets and any other fee related offenses. The last thing you need is to spend more money or not have the use of the vehicle you need to get back and forth to work or to support your family care needs.
Pack a lunch instead of buying takeout all of the time. If you don’t like eating leftovers for lunch, then buy lunch items when they go on sale at your local market. You may be able to save 30%-60% off of lunch food costs when compared to buying lunch from vendors near your job.
Keep home expenses down, like utility costs, food, and repairs. Keeping on top of your utility usage will help to keep them low. Try to purchase foodstuffs when they are on sale, and store them well. Keep up on minor repairs so that they don’t turn into expensive home improvement projects later.
Entertainment
Relaxation and getting in enough down time is very important. You need to get proper rest to recharge yourself. This may call for some distraction and entertainment. You may not be able to go to the movies on a regular basis and movie tickets are very high right now—no problem. Check out you local paper for free to-do events. Go to the park, botanical garden, or museum on discount days. Go to your destination’s website to find out the discount price and free event schedule they have to offer. You may be surprised at how affordable and convenient this may be for you to do right now.
Don’t want to go out? Then stay home and log onto one of the low cost video streaming websites that you subscribe to. Netflix® video streaming is less than $10 dollars, and Hulu® is free—and a paid subscription to Huluplus® is also less than $10 dollars. I am sure that the low unlimited video streaming costs are less than haff of what others may pay for cable. Unplug the cable and go online for much less and with more flexibility and control.
Save, Save, Save.
I know that his may seem really daunting in times like these. It is truly challenging to save a significant amount of money right now—but that is ok, do the best that you can at the moment. Saving even just a few dollars from paycheck to paycheck really adds up. Perhaps you may not save enough for an all expense paid two-week vacation; however, you may have saved enough money to be sure you don’t run out of money for your basic expenses. Do your best to not have to borrow any significant amount of money. Nothing can be worse than trying to pay back money when you and your family are living on a very low income.
Written on January 26th, 2012 by Samanthano shouts
JCPenny® has been making big waves in the newsroom lately. The conglomerate has made announcements this week to make those waves. They have new leadership, a new look, and are making dramatic changes to their “pricing strategies.” These will be distinguishable by a multi-tier “level of pricing.” The three identifiable levels will be designated by clearly laid out badges for the public to quickly and discernibly make selections from.
Everyday Value (red tags)
Monthly Long Value (white tags)
Best Prices (first and third Friday of each month)
These three levels of detectable shopping values are expected to bring in more customers and promote more return visits. Goals are set for “shopping to be an event again.” JCP has noted that they created approximately 590 promotions in 2011—with a visitation ratio of 4 visits per consumer out of 12 months means that the majority of visitors were not aware of active promotions, according to JCP strategists. The new strategy is supposed to change all of that by offering continuous sale advantages. JCP strategists believe that this will promote a higher frequency of planned shopping trips. This anticipates higher spending and return shopping visits.
The estimated value of the proposed discount is expected to be a permanent price reduction of 40%-50%, at all JCP stores throughout the country. That is a huge amount of saving and at such an opportune time, when the Americans are looking for the better deal everyday.
Some financial experts have critiqued this strategy by noting that Wal-Mart® stores attempted to do the very same thing and experienced a financial backlash because of it. However, other experts are banking on JCP making a better go at it. Only time will tell.
Meanwhile, Wal-Mart and Target® are doing the best they can to hold the better title of all around store value. Following Wal-Mart’s successful venture into grocery offering, Target has recently expanded its full grocery section to include fresh produce.
Each store has prided themselves on having very low prices and at convenient locations. However, a recent survey conducted by Kantar Retail IQ has revealed that Target has lower prices than Wal-Mart. This is from a study started in 2009.
The survey included purchases from edible and non-edible groceries, beauty products, and store brands of various items. The study concluded that Target shoppers are saving close to 3 percent more than Wal-Mart shoppers. This is the result of a test that was conducted five times, with Target being the better place to buy three out of those five times. So Wal-Mart does have some good days—as a consumer you may have to dig a little to find them out though. Some advice offered by the experts:
- Target fared well when key items were on sale. The sale items offered a deeper discount when compared to Wal-Mart.
- Wal-Mart store brands had an overall advantage over Target store brands for pricing. If you like the Wal-Mart store brand, then you may want to stick with those.
- Wal-Mart does not want to be defeated and is also “reemphasizing” its own low pricing strategy—so that they may have more to offer, and for less than Target, in the very near future.
To the winner, go the spoils.
Resources:
Daily Finance: http://www.dailyfinance.com
MSN Money: http://money.msn.com
Written on January 1st, 2012 by Samanthano shouts
The recovery of the American economic system is on the minds of all financial experts. With Europe being deep within a financial maelstrom, onlookers are very concerned if the US economy will be able to recover with better gains and in a shorter time than Europe will. The feeling is that this is very possible and highly likely. America still has a lot of strengths left. There is a lot to consider, for sure.
Human Resources
Middle class Americans are experiencing a very slow and low paying recovery. So while most may be able to put dinner on the table, there may not be much else left to fulfill the American Dream experience. Things are just different now and a lot of people will have to settle for a lot less in order to survive. However, Americans are still positively motivated—noting that they do feel more fortunate than the generation that raised them in a recent Gallop poll survey. This sort of morale will be able to go a long way in building towards a clearer and stronger future. This is the first and probably most important step towards recovery. The backbone of America, the average American, must feel that solutions are possible just to get up in the morning and give it a go. As unemployment is slowly going down, this may be a sign of better things ahead.
Creators
America has been dubbed the creation nation for a good reason. Some of the best inventions, technological wonders, and super gadgets, have all been created by American inventors and scientists—including computers, software, mobile phones, tablets, and social media hubs. Americans are still winning the race on new inventions that everyone wants. This will maintain the high profile visibility of American technology. Other nations simply do not have same status and demand for their inventions as Americans do.
Wholesome Foods
America can supply all of the essentials to her own country. With rich soil and livestock resources, America can grow all of the nourishing foods that are needed to be supplied. Of course foreign imports are a desirable addition—however, the US can survive on what is already there.
With all that being said, experts are on the lookout for new trends in the European economic (currency) system. There has been a buzz recently about Europe finally coming up with solutions for deeper solidarity amongst her many nations. This has led to rumors of the possibility of an increasingly stronger Euro that may appear. Some are speculating that a strong possibility of the Euro becoming the most valued currency in the world one day soon. The European Central Bank’s policy maker Christian Noyer seems to think so. He recently reported this positive news to Reuters.
America can certainly gain some much-needed steam in the New Year. It is not about competing with Europe—however, all global nations need to make significant progress for their citizens and neighbors. Hopefully all of these nations will learn from the mistakes made, leaving them in the past for future generations to learn from—not to repeat.
Resources:
FOX Business: http://www.foxbusiness.com
Reuters: http://www.reuters.com
Written on January 1st, 2012 by Samanthano shouts
The American dream has been getting foggier and foggier. The notion of getting good grades in school to advance on to a scholarly institution and graduate college to land a great job has become fleeting. Adding on a family, a home, car, and opportunity for enjoyment of these liberties are becoming a goal that has been cast at an even farther distance. Personal income has decreased sharply over the past 30 years—almost 10 percent. The standard of living for the American middle class has gone down with it. Jobs that were held by the middle class have turned into “low income” jobs. These jobs now make up almost half of all American jobs. This is huge.
Some experts are noting that “globalization” is a factor in creating this trend, and may contribute to a creating a two-tiered society in this country. Some experts are even mentioning that America may be on the way to becoming less that a first world country.
Technology is also a huge contributor to this trend. New technology has been the cause of the reduction of particular jobs and increased other jobs. Jobs that are now in demand are healthcare and hospitality. Jobs where there is an impact on direct care of basic human needs and relaxation will thrive in this society. All humans need healthcare, and others will still spend money on home wellness when regular health insurance is not affordable—this will not just be left for the increasingly wealthy, although the wealthy can afford to feed the more extravagant hospitality sector.
The private sector job market is steadily increasing; however, for low-income jobs. Private sector jobs for the middle class are steadily decreasing, and government jobs are about the same.
With this entire going on, some experts are noting that today’s American generation is doing better than the previous generation. So far, the greatest increase is being seen for seniors in their social security checks. However, this comes at a great cost to the government.
Surveys conducted by Gallop polls, reveal that older Americans feel better off than their parents were at the same age in comparison to younger Americans. The wealthy Americans surveyed feel much better than those that are not as wealthy. Overall, this connotation is down by 5 percent from similar surveys taken near the turn of the century. Surveys from Pew Research Center have also revealed equivalent results.
This all seems to be quite good for much needed morale. Perhaps, this may be enough to combat the reality of this situation.
The recent economic turmoil that most Americans have been feeling has been overwhelming for most. With the right amount of motivation, there is hope present for a better future. The thing is, how long will it take for this better future to be realized. Most experts have noted that although there will be steady increases, the real turn around of what has been deemed “The Great Recession” won’t be for a few years. In the meantime, we can still have hope.
Resources:
ABC News: http://abcnews.go.com
Reuters: http://www.reuters.com
Yahoo! Finance – The Daily Ticker: http://finance.yahoo.com
Written on January 1st, 2012 by Samanthano shouts
It has long been rumored that the wretched economic state that we are in has very few opportunities for recovery—one of them being a booming private sector. Start-Up businesses can help with the economic recovery system we need. Individuals that are interested in creating their own business can use their natural talents to get started. Some people have a distinct passion that he or she wants to bestow upon the world—and then there are some people that are not really sure what they may want to do.
With all of the ups and downs in the business world today, certain business paths have opened or widened as other businesses have failed. This has created a whole new way to look at business and the way people earn money. One of the factors of this phenomenon includes an increase of e-commerce, with mobile commerce (or m-commerce) climbing right behind. Keeping this in mind, here are a few great ideas for start-up businesses.
Shipping
Virtual shopping has created a boom in the shipping business. This natural occurrence has made huge profits for shipping businesses. Shopping malls are becoming ghost towns in favor or the virtual mall. This undoubtedly calls for the consistent need for shipping services and supplies. This is a good time to learn more about the shipping business and how to buy into a franchise.
Virtual Assistant
A lot of business owners need an assistant. However, not all of them are able to afford the space, equipment, and supplies he or she will need to complete the job. This is when a Virtual Assistant, also known as a VA, can be most useful. You can be that useful VA that a professional will pay to help him or her to become more successful. You will need to have your own home/office equipment and a connection to the Internet. The commute is none existent and your only steps away from the cafeteria and employee lounge.
Virtual Tutoring
Modern students are getting used to a diversified learning atmosphere—including online instruction. Although this has not eliminated in-class instruction, a lot more students expect some part of their course instruction to be online. There is an accepted convenience that makes this a highly desirable aspect of learning today.
Tutoring is an age-old student aide that can now be brought to a plethora of knowledge needy students. If you are a qualified tutor, you can now offer your services online. You can use one of the many communication portals such as video chatting or email to reach your students. Now you can tutor your pupils despite bad weather, personal ailments, or distance.
Now that you know about all of the different ways you can make 2012 your year to make it big in a private business you can talk to your financial advisor about how to get started. Pool your money resources together to make the necessary purchases. If you don’t have enough money as of yet, it will not hurt to find out how much money you will need to raise too make it to your goals—knowledge is power.
Written on December 28th, 2011 by Samanthano shouts
This has been a year that most may want to forget. Financial woes hit Americans hard this year. Lots of things are still out of balance as we look ahead. As this year comes to a close it is a good time to think about your financial future. Here are some tips on shaping up your finances in the new year.
Savings Accounts
This has to be the simplest thing to do. However, a lot of people don’t utilize them as much as they should. Some reasons may be that it is believed that not a lot of money—as interest—may be earned. It’s true that typical bank savings account products made for the average American, with a required minimum balance of only $500 dollars, has an average interest rate of below 1 percent. Accounts that have an increased earned interest value also have an increased minimum balance rate—$3,000 dollars and up. That is a lot of money to have on hand for the average American during such difficult economic times. However, even a 1 percent earned interest rate savings account is good for something—and, it’s a start in the right direction.
Pay yourself by saving a little bit each paycheck. Most financial expert recommendations have been a steady 10 – 15 percent of each paycheck. Recently, this recommendation has been increased to 20 percent. This will make a significant difference in your savings.
Pay Less
Modern consumers have much more choices than ever before when it comes to getting more for less. There are a plethora of discount or coupon services available. For a few dollars, a person may sign up for access to coupon websites where he or she may download coupons to use for grocery shopping. There are also discount website and/or manufacturer issued discount codes flying all over the internet for other wanted items such as clothing, shoes, furniture, bedding, and more.
Another big step for modern consumers are the group discount deals being offered by quite a few different companies. These are offers on mostly lifestyle, therapeutic, or relaxation products. Some of what is being offered are discount travel and vacation destination rates, discounts on dinner at trendy metropolitan restaurants, and discounts on gym memberships or fitness classes—the choices seem to be limitless.
Get More
Pleasantness with a mix of proper manners may go a long way on bumping up amenities at certain establishments. Being courteous to the staff at a posh restaurant or hotel may amount to getting more stuff for the same amount of money you have already invested. It pays to be nice.
Frequent users of certain products may also be able to get more with regular use of particular services. Look for services that offer a freebie or full use of their offered product for free once a consumer has accumulated a certain amount of usage. This can amount to a free lunch or a few free nights at a hotel. Shop around for the best prices online as well as locally. There are a lot of deals out there for you to find.
Written on December 19th, 2011 by Samanthano shouts
Times have been tough for all us lately. The economy has forced many Americans to do without the usual and consistent luxuries. However, American women have adapted and even drove a particular market sky high—nail polish. Isn’t that simply amazing? There are plenty of beauty rituals that do not need to be put off because of the overturned economy. Become a do-it-yourself person, and get the most out of your own natural talents.
Nail Shop Envy
Consistent trips to a nail beauty salon used to be a grooming necessity. Now, it has become an every now and again luxury for many. A typical manicure and pedicure costs about $25 – $30 dollars, with a modest tip for the nail technician. That is a total cost of approximately $60 dollars per month, or approximately $720 dollars per year—when you add that up at the typical bi-weekly visiting rate for nail grooming. This does not include transportation costs, or the purchasing of a quick snack and beverage while waiting to be seated for services. That is a lot of money that can be used elsewhere, and for a more long lasting or productive purpose.
American Women Are Doing It For Themselves
Self-serve has taken on a whole new meaning this year. The numbers of self-grooming products are proving it—nail polish and nail products in particular. Nail polish products buying by average American women has gone up a whopping 59% for the better part of this year, according to the NPD Group market research firm. That is up from the same time in 2010.
Women are able to take care of this task themselves, and the opportunity to change up their look is endless. There is no need to wait for bi-weekly grooming, or for your favorite nail technician to be available. With the colder weather upon us, it can also be a bit more troublesome experience—try to get a pair of socks, boots, and gloves on after a fresh Mani Pedi. All that has to be done is to pick up a bottle of nail polish from a local beauty supply and voila—instant beauty makeover. This is quick, inexpensive, less time consuming, and truly gratifying.
Women just can’t seem to get enough.
Real Beauty
Women who want to be beautiful will find a way to achieve it without the salon. There are lots of beauty treatments that can be done at home. There are homemade beauty wrap recipes and products. Natural product facemask recipes for all complexions are easy to find with the some online research. YouTube is loaded with a plethora of instructional beauty regimen videos. Bring the spa experience home by adding romantic scents to the home atmosphere while performing a home beauty regimen. Make a party out of it by inviting some friends over. Get ready for the holidays—and save some money while you are at it.
With a bit of research women can find a ton of recipes on homemade beauty techniques, at a fraction of the cost of going to a beauty parlor or salon. That’s your beauty bonus.
Resources:
Reuters: http://www.reuters.com
Yahoo!: http://www.yahoo.com
Written on November 29th, 2011 by Samanthano shouts
The stock market’s most recent rise is due to the lifting of cash access restrictions made on European banks—due to the serious decline of confidence in the European banks recession recovery.
According to an article distributed by the Associate Press, “‘The central banks of the world have resolved that there will not be a liquidity shortage,’ said David Kotok, chairman and chief investment officer of Cumberland Advisors. ‘And they have learned their lessons from 2008. They don’t want to take small steps and do anything incrementally, but make a big bold move that is credible.’” The stocks of huge American financial institutions such as Morgan Stanley, J.P. Morgan Chase, and Citigroup have gone up between 6 and 7 percent, on Tuesday. These are being seen as big gains in such a shifting economy.
Essentially, rates for loans have been lowered to a point that simply makes it much easier for banks to borrow all of the money that they wish. This is a great alleviation for these banks and gives them more liquidity. However, experts have also been issuing caution to these large establishments and to the world at large. They have noted that this may just be the catalyst for another bubble effect later on and that this latest move may only be a matter of passing the buck. According to them, there has to be a sturdier foundation from which to build a stronger economy than what we are experiencing now—and since 2008.
“‘People are taking comfort that it’s globally coordinated,’ said Peter Tchir, who runs the hedge fund TF Market Advisors. ‘In itself it does nothing, but the bulls are anticipating that this is just the beginning of central bank and other actions’ to ease market pressures.”
“A successful action would be expected to reduce borrowing costs for Italy and other nations, Tchir said. Italy’s borrowing costs edged lower Wednesday, but the nation was still paying more than 7 percent interest for 10-year borrowing — a dangerously high level.”
—The Associated Press
Banks may be relieved at what may be considered a holiday miracle; however, some experts have noted that this could be a set up for an even more devastating financial upset later on down the line.
Even with cautionary mentions, the upward climbs of stocks have given a clear indication that there is more confidence within the market. Perhaps the infusion of morale will foster greater results instead of a more negative financial outcome. The Dow has increased by enough points to take them out of the pointed low the Dow was in only a week ago. The Standard & Poors index increased by almost 4 percent, on Tuesday. However, in another AP article, Standard & Poors is noted as decreasing the credit value of particular US banks—Bank of America, J.P. Morgan Chase & Co., Citigroup, Morgan Stanley, and more. This may also prove to be a most confusing time for some.
Standard & Poors have been noted as lowering credit ratings due to new practices and/or procedures recently adopted by particular banks.
Resources:
David Wagner, “Stocks leap on central banks’ coordinated action,” The Associated Press: http://www.ap.org
Yahoo! News: http://news.yahoo.com
Written on November 15th, 2011 by Samanthano shouts
It’s Your Money
The holiday shopping season is finally here and shoppers are expecting a lot. Experts have predicted that shopper spending will increase almost 3 percent from last year. A lot of that has to do with the expectation of great holiday deals from retailers this season. Retailers are following suit by offering some amazing deals, and well before Black Friday actually arrives. The deals are expected to be so great that most experts predict that shoppers will not only buy for loved ones—they will buy for themselves as well. Some retailers have even started whole marketing campaigns around this popular theory. There may be a surge in BOGO’s (buy one get one) this holiday season as a direct result.
Here is a mini survival kit on how to get the most out of the 2011 holiday season.
Shop Around
Look through store circulars and compare the prices. You are sure to pinpoint items that you want to check off of your holiday shopping list. If you prefer dealing with a particular merchant, bring in competitor prices to see if they will match it.
Get Out Early, or Stay up Late
Lots of stores have set a trend of trying to beat out the competition by opening up as early as possible over recent years. The 8 am opening time has been swept aside for the 6 am opening, and then the 4 am opening. Well retailers have gotten even cleverer by offering Black Friday midnight (morning) sales. Macy’s, and others will be opening their doors at midnight so you can start shopping before sleeping off your delicious Thanksgiving meal. Check your local retailers for more details.
Go Online
Cyber Mondays has evolved into cyber everyday around the holidays. You do not have to wait until the Monday after Thanksgiving to get great deals. Great deals are only as far as your fingers can type your most wanted items into search modules.
Rain Check
Coveted items are sure to get top billing at most stores, which means that they will probably run out the fastest. You may be able to get a rain check from some retailers if this should happen. Don’t expect that you will be able to get the item before Christmas though. You may have to be patient and wait until the New Year—better late than never.
Keep Your Sanity Intact
The holidays can be one of the most stressful times of the entire year. If you do venture out, the lines are bound to be quite long with determined shoppers, who all want more than a retailer may have in stock. Be patient, and have several destinations in mind. If an item cannot be found at one store, it may be at another. This is a good time to get that out the e-reader and browse through a novel, or play a quick game. Bring along company, snacks, and water too. You don’t want to get dehydrated and famished while waiting on line.
Remember that a lot of stores may have an online website as well. If you can’t find it at the store you may be able to find at the store website.
Resources:
National Retailer Federation: http://www.nrf.com
Written on November 4th, 2011 by Samanthano shouts
In a Nut Shell
Employment in America is increasingly challenging. Although there are reports of unemployment decreasing, this only accounts for those that are still eligible for unemployment benefits. A lot of Americans are no longer receiving benefits and are not necessarily getting work as a result. So what is happening to them? These are the people that are becoming, and by effect increasing, the nations poor.
The unemployment rate is being noted as approximately 9 percent, currently. However, another survey that concentrates on a wider scope of people that are not working, or are working only part-time in lieu of full-time work, brings the number to over 16 percent—this is a huge difference.
Some out of work job seekers feel they have exhausted all reasonable avenues, and have stopped looking for work. It becomes such a job, looking for a job, they become exhausted at what seems to be a matter of running in circles. According to some experts, the government really has to step it up to understand the full scope of who is unemployed and reach out with services to them all. This is the only way that a difference may be seen anytime soon.
Public jobs are decreasing while the private sector continues to increase. This is no doubt by an increasing amount of professional or expert services being offered by smaller companies. For a few lucky ones, this has been a catalyst for starting up a new business. However a problematic situation may occur if there is a lack of an ability to control costs, and maintain customers in such a cooling economy. Those that would tread those waters should do so with extreme care.
For others, there is the reality of seeking out public assistance. A lot of those that are able to utilize food stamps are still working—they have become the working poor. Demographics are shifting at an alarming rate as a direct result.
Metropolitan areas are a foreground for a growing number of poverty stricken families. Although food stamps are a non-monetary aid for families, this staple is considered to have decreased the official child poverty rate. However, the poverty rate of the elderly has recently “doubled,” according to a recent report released by the Associated Press.
One city town in Michigan has found it necessary to take a drastic and extreme turn by taking off the entire city’s funded street lamps. Not only did they cut off the electric current to public lampposts as a result to their indebtedness of over $55 million dollars, city officials have removed the lamps from the ground. The shutting off of a basic service that may sacrifice public safety is a sure sign of the drowning state of things for some communities that have more “people than they do jobs.”
The gap between the rich and the poor or the ‘haves and the haves not’ has increased tremendously. As a matter of fact, while the average American has been brought down to their knees, the nation’s rich have only gotten richer over the last thirty years. According to reports (AP), the nation’s wealthy have increased their wealth by almost 300 percent.
Resources:
Associate Press: http://www.ap.org
Contrary Indicator: http://finance.yahoo.com
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