...the above words, can only suggest one thing; perhaps slavery or involuntary servitude is not dead but has only taken on a more disguised form. Although the above may be true, some believe debt is not slavery but a financial hardship brought about by one's own actions. With statics showing that the American public holds the bulk of the seventeen trillion dollar, deficits (The Debt to…); and that only 32 percent of Americans actually budget (Jacobe), one can come to believe this is true. That it is the public’s fault for not budgeting. For this reason, it is necessary that we diligently research and investigate past and present evidence to educate ourselves on the national debt crisis, so that we could shed some light on the root cause. First all, we will need to understand eccentric statistics on how many Americans are actually affected by debt today. According to Michael A. Fletcher of The Washingstonpost.com, three out five workers’ mortgages, credit card balances and installment loans are outpacing the amount of money they are able to save for retirement. In addition, Bill Fay of Debt.org acknowledges, that the more than 160 million Americans with credit cards have an average of three credit cards each, and on average, each household with a credit card carries more than $15,000 in credit...
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...mountain of debt, don’t expect much help from them in overcoming the situation. Debt can bring anxiety, stress and unhappiness; but, by being aware of your financial situation you can enjoy life without permanently battling against the problem of debt. To avoid suffering from serious debt problems consider these suggestions: 1. Buy what you need It’s easy to buy things we actually don’t need or very rarely use. Look in your wardrobe and count the number of clothes that you rarely wear. Before buying a good, try to evaluate its usefulness to yourself; give it a mark out of 10. If you give items an honest score, you will think twice before spending $100 on your 7th pair of designer shoes. If you’re an impulsive buyer, try waiting a day before buying something. If you really want and need it you can come back the next day. 2. The $70 dollar test If you have a real problem with excess spending, try this test. For a week, give yourself $70 cash, and put away all credit cards. This forces you to live on $10 a day. When you are faced with a strict income, it forces you to be very careful in what you spend. It will make you realise what is really indispensable and which spending is mere extravagance. This will also force you to be inventive. For example, rather than spending $15 on a take away lunch, you may make your own. Quite often, by taking these steps we realize our previous spending habits were not at all essential to our happiness. 3. How Much do you Spend...
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...student loans, a $27,500 vehicle loan, plus $20,000 in credit card debt; wondering if you will ever pay everything off and still be able to retire at a decent age? There has to be another way. There is! Pay with cash! Ditch the credit cards; say goodbye to student loans; forget about the vehicle loan, maybe even eliminate the mortgage! Some of the problem perhaps lies with how children are being educated. How many high schools actually offer finance-orientated classes? This type of class is not mandatory but it should be. To the best of my knowledge, Grand Traverse County does not require it. If the children were better prepared to handle finances, and understood what lay in store for them once they graduated; they would have a great advantage. “Train up a child in the way he should go, even when he is old he will not depart from it” (Proverbs 22:6). The children would know how to budget for themselves. They would know how much money is being paid, how much is being saved, and most importantly, what they could afford to purchase. They would not fall into the abyss of credit. They would not need to get a fancy credit card just to feel like an adult. The rich rule over the poor, and the borrower becomes the lender’s slave (Proverbs 22:7). Government officials are being more stringent on credit card companies; stricter guidelines for soliciting on college campuses is just one example. In fact, some schools are prohibiting the companies from soliciting on campus...
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...Free Special Report… “How to safely buy a new home without bank qualifying or a large down payment” Stop wasting your money on rent or living in a house that doesn’t meet your needs. Discover how to move into a better home now! Dear Homebuyer, Some people are tenants by choice. However, most people would prefer to enjoy all the benefits of owning a home if at all possible. It can be the single most important investment you ever make. A lot of people's personal wealth is made up mostly from equity they've built through years of responsible home ownership. We believe buying a home should be at the top of your goal list. Let us help you achieve that goal. We can give you access to homes for sale right now with flexible owner financing. Our unique approach can help you achieve the reward of owning your own home faster and easier than going the traditional route. Here are the benefits you can be enjoying by working with us: You can move fast When you buy a rent to own home you can move in quickly and easily. Most rent to own properties are available immediately. Get into a rent to own home in just a few days with flexible owner terms or set a date further out. Compare that to buying an owner occupied home through an agent. How frustrating! First you have to qualify for a loan which could take 3 to 8 weeks (Rent to own homes however require no upfront bank financing). Then you have to coordinate your move subject to the schedule of the seller. Look out if the seller wants everything...
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...a situation where a person uses information used to identify another person, such as their name, credit card number or social security number without their permission, in order to commit fraud or other crimes. In other words, it is stealing the identity of a certain person and pretending to be that person by assuming their identity, usually so as to access their resources or to obtain recognition and other profits in their name (Cheney, 2005). There are many forms of crime related to identity theft. Some identity thieves rent apartments or get credit cards or phone accounts in the names of their victims. These victims may not learn out about it for some period of time, until they notice some charges they did not make, or are contacted by a person or people claiming that they owe them. It may sometimes cost them hundreds or thousands of dollars and a lot of time while trying to undo the damage (Keith, 2005). Identity theft could ruin an otherwise spotless reputation. It could also lead to much suffering if the victims are held responsible for the thief’s actions. TYPES OF IDENTITY THEFT Identity theft can be divided into the following categories: • Criminal identity theft, that is, pretending to be another person when arrested for an offense • Child identity theft. • Financial identity theft, that is, using the identity of another person so as to be given credit, services and goods • Identity cloning, that is using a different person’s information so as...
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...LAW 531 - QUIZ 4 EMPLOYMENT LAW & GOVERNMENT REGULATION Save this quiz on your computer and work on it during the remainder of the week. Make sure to save your results each time you make a change as well as save the quiz with your final answers. There are 25 multiple-choice questions. Identify the letter of the choice that best answers the question. When you are sure you have answered all the questions to the best of your ability, mark your answers on the Answer Sheet provided. Submit your answer sheet to the Week 2 Quiz link under Assignments. Do not change the font and do not put in any punctuation or other marks in the answer sheet; put only the letter choice of your answer. Also, do not put any spaces before or after the letter you enter as your answer. Be sure to turn off the automatic completion function of cell entries. On the Tools menu, click Options, and then click the Edit tab. Clear the Enable AutoComplete for cell values check box. Please put only your last name on the Answer Sheet in the by writing it in the yellow space. _________________________________________________________________________ 1. Calvin works at a local grocery store to pay his way through college. His work schedule can vary from week to week. One week he works for sixty hours, and the next week he works for twenty. He asked his boss whether he is entitled to overtime at the end of the two-week period...
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...always nearly completed. This is what we have been told is the major leap into adulthood and makes you one of the high caliber Americans who can claim that their home is their castle, but is this still true in this country? With the financial downturn and the home foreclosures at a all time high, nearly every block I see has a home for sale at reduced price so how does this milestone still hold up to scrutiny and how can this generation still reach for that goalpost of what is considered the standard of the happy nuclear family? The decision to purchase a home is the major point in an American life and it is a decision that should not be taken lightly because if not done correctly and with a plan on how to sustain the purchase that is not solid the consequences could be dire. After taking this course I have found out that there are methods and concepts that if implemented correctly the idea of owning a home is still within grasp of many of us but there are many things that need to be weighed before pulling the trigger on such a large and momentous decision. First are the ten principles of economics which I will go into more detail later on that are crucial to making a large purchase be it a home, car, or any other large ticket item that can have ramifications on other aspects of your lives. Next one needs to weigh the marginal costs and marginal benefits of their decision to see all aspects of the decision no matter how minute they may seem. There needs to be an understanding of...
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...BASIC FINANCIAL LITERACY Guiding Principles for You 2010 Microfinance Opportunities 2010.Used by Permission : For inquiries regarding rights and permission, please contact: Microfinance Opportunities 1701 K Street NW , Suit 650 Washington, DC 2006 USA TEL:202 -721-0050 FAX: 202 -721-0010 Email: financialed!@mfopps.org www.microfinanceopportunities.org Equity Group Foundation P.O BOX 75104 00200 Nairobi, Kenya Tel: 254 20 274 4000 FAX: 254 20 273 7276 Email: info@equitybank.co.ke www.equitybank.co.ke/company/foundation INTRODUCTION While the poor share the same goals as all people – economic security for themselves, their families, and future generations – their limited resources and options often lead to a sense of hopelessness and inertia. Careful management of what little money they do have is critical to meet day- to –day needs, cope with unexpected emergencies, and take advantage of opportunities when they come along. The bad news is that the poor often lack the knowledge and experience they need to be these careful money managers This is the purpose of this book. It teaches people about the concept of money and how to manage it wisely. It offers the opportunity to learn basic skills related to earning, spending, budgeting, saving, and borrowing. The good news is that when people do become more informed financial decision makers, they can plan for and realize their goals .Moreover, once people have acquired financial literacy skills, those skills cannot...
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...Meaning of Customer Relationship Management Customer Relationship Management (CRM) is directly related to the satisfaction of customers’ needs. CRM takes care of expectations of customers and what and how a product is presented to the customer. CRM is defined as a system that comprises large amount of customer data and presents it in a suitable manner. This information helps in retaining old customers and developing new potential customers. CRM plays a vital role in effective decision making in marketing management. CRM can also be defined as ✓ A process of creating and maintaining relationships with business customers/consumers, a holistic approach of identifying, attracting, differentiating and retaining customers. ✓ A process of integrating the firm’s value chain to create enhanced customer value at every step. ✓ An integrated cross functional focus on improving customer retention and profitability for a company/organization. Need of CRM In competitive times the challenge is to keep the customers in fold. Companies/organizations lose many loyal and profitable customers due to absence of CRM. There has been a great urgency of CRM in marketing management as best as possible to compete well in today’s innovative business world of high technology. So to create new customers and to retain old (loyal and profitable) customers, it is very much urgent to implement CRM in marketing management. To survive in today’s tough competitive business environment, CRM is...
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... • Question 1 0.33333 out of 0.33333 points Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 18.00%, with interest paid monthly, what is the card's EFF%? Selected Answer: 19.56% Answers: 18.58% 19.56% 20.54% 21.57% 22.65% Response Feedback: APR = Nominal rate 18.00% Periods/yr 12 EFF% = (1 + (rNOM/N))N 1 = 19.56% • Question 2 0.33333 out of 0.33333 points You want to buy a new ski boat 2 years from now, and you plan to save $8,200 per year, beginning one year from today. You will deposit your savings in an account that pays 6.2% interest. How much will you have just after you make the 2nd deposit, 2 years from now? Selected Answer: $16,908 Answers: $15,260 $16,063 $16,908 $17,754 $18,642 Response Feedback: N 2 I/YR 6.2% PV $0.00 PMT $8,200 FV $16,908 • Question 3 0.33333 out of 0.33333 points Time lines can be constructed for annuities where the payments occur at either the beginning or the end of the periods. Selected Answer: True Answers: True False • Question 4 0.33333 out of 0.33333 points Starting to invest early for retirement increases the benefits of compound interest. Selected Answer: True Answers: True False • Question 5 0.33333 out of 0.33333 points Your uncle has $375,000 and wants to retire. He expects to live for another 25...
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...means to keep this commitment to further a student's education. So awareness of how much your college education would be is critical because it is not limited to tuition fees. There can be more expenses to be expected when a student goes to college. Let us look at the general list of what a student pays in college. First would be tuition fee. Tuition fees can be at the range of $6000 - $25,000 for a four year course. Take note that public colleges have smaller tuition fees than private colleges. So look to this as an option. Second would be living in colleges. A student in college usually would try to find work in between to cover the cost of living. It is something that should be considered before going to college because you have to think of things like rent, food, bills and other travel costs. A common student would need an average of $1,000 extra for these extra expenses. Third are the materials you need to study. These are the givens like books, bags, IT equipment and could cost to at least $2,000 a year. So it is important to be able to budget before you go to college. Make sure you leave yourself some extra money monthly for self use. Try to find a monthly average of your expenses so you could allocate your funds accordingly. Going to college is a big investment but in the long run the education you get would allow you to get bright opportunities when working which can make your life and family. Students could also try to get student loans, or grants to help out aiding...
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...I need to save for college, so that I don’t have debt at 25, or at least not that much debt. I would like to get into a good school and with good schools come a heavy bill so I will need to put money in a savings account. I will need to have a buffer zone on my card, depending on my financial situation it might be $100 or $1,000. Having a buffer zone is always good to fall back on and you know you're safe. I will hopeful have some money to put in stocks so that I can make money off that money. Befor this class I didn't know anything about stocks but know I at least know enough to invest. Another way I could invest my money is to put it in CD’s which will also make me more money for the future. From the true life movie I learned to not have...
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...Jacob Tatum English 1302 – XW4 April 19, 2014 Professor Lee Exploring the Consumer Society: The Urge to Splurge I grew up in a middle-class neighborhood in McKinney, Tx. The high school I went to, McKinney High School, had students in attendance whose parents were on government assistance, students whose parents were in the top 10% of the top 1% financially and everywhere in between. Consider this, if you took a group of randomly selected students from my high school and your goal was to estimate their household income based upon the value of their possessions (phone, clothes, jewelry, shoes, etc...) you'd most likely get it all wrong. This is because it doesn't matter where you come from, how much money you have, or what you look like; you're a customer, you're a consumer. We live in a society today and I went to a high school where people are judged based upon their possessions and what they can acquire. It doesn't matter how you acquired it, as long as you've got it. I think that judging people based off of what they own is a huge mistake. I think it's unfortunate we are constantly purchasing things because of a brand or a logo, but at the same time I don't practice what I'm preaching. It's interesting to me that as I begin to think about it, I don't think any of the nice things I own are bringing me happiness right now, they have only provided some form of instant gratification. If someone asked me what I have to be happy about, I'd provide the cliché answer along the...
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...Analysis…………………………………………...………..Pg 16 Conclusion.……………………………………………...………………………….Pg 17 References…………………………………………………………………………Pg 18 Leadership Development Plan Introduction What I have written in my Leadership Develop Plan paper will show my strengths and weaknesses; what I need to accomplish to get to accomplish my goals; how long I have to reach my goals; how can I learn to run a business working in the organization that I am currently working in right now; how I can become the leader that I dream of becoming; what I can do better in my life to guarantee that I succeed. Answering all these questions will help me get further to accomplishing my success and receiving my Master’s degree, being able to buy a home, running a business and becoming successful in that business. My Leadership Journey When choosing my classes for my MBA, I thought that I would need to take a leadership class. I really was just picking classes that sounded good to me and that I thought that I should take that would show me how to run a business. I came upon the leadership development class and it did not hit me that this class would open my eyes to seeing what I was going to need to help me in succeeding in getting to that leadership position that I truly am seeking. I actually thought, well the sooner I get through this class the...
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...quickest ways to improve your finances is to reduce your expenses and find more ways to save money. This book is a compilation of various money saving tips that have been published over the years. 1. COMBINE YOUR CABLE, INTERNET AND TELEPHONE SERVICE. Companies now offer combined services that not only cost less, but offer the convenience of a single bill. Called a Triple Play Package (Cable, Internet, and Phone), these combined service deals can save you a bundle. 2. SLOW DOWN YOUR INTERNET SERVICE. I went to the slower internet service option with my cable company and saved $15 per month. And I haven’t noticed a difference when surfing the Net. 3. CONVERT TO A GAS WATER HEATER. They are more efficient and will save you money in the long run. 4. REFINANCE YOU MORTGAGE. If you can reduce your interest rate by one percent or more, it is often beneficial to refinance. This is particularly true for those with high rates due to less than stellar credit scores. If your score has improved, you may qualify for a better rate. I would start by asking your current mortgage lender about lower rates. 5. GET YOUR BOOKS AND DVDS FROM THE LIBRARY. I love books and read every day. While I buy some of the books I read, most come from the library. Simply put, it’s hard to beat free. Many libraries now have movies on DVD that can be checked out. If your library offers this service, it sure beats paying Blockbuster or Netflix. 6. DON’T PAY INTEREST ON CREDIT CARDS. This is obvious...
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