Why You Should Go Back to School During a Recession

Written by Mark Johnson on August 15, 2011 Categories: Education

In our current economic climate, many hardworking individuals are finding themselves out of jobs and out of luck. Market recession affects both families and individuals. Even workers who have not lost their jobs are faced with a higher and higher cost of living, but no wage increases. If you or a loved one is struggling to find stable employment, it may be the perfect time to go back to school. Attending a higher education institution during a recession can help to alleviate your financial struggles and also provides a way forward in the future. It is important to stay relevant in a tough job market, and returning to school can help you do so.

If you have previously considered studying for your MBA—Masters in Business Administration—or another higher ed degree, you may have been put off by the cost of studying in a university. However, cost should not dissuade you. In today’s tough economic climate, many schools offer wonderful financial aid packages. The Federal Government also offers a comprehensive program of grants, assistance for parents who are studying in college and universities, and low-interest and no-interest loans for study. Many students are awarded financial aid to help with their basic costs of living and of attending school. Financial aid is often provided to help with books, housing, and food. If you are struggling to make ends meet, going back to school may make sense financially.

In addition to the financial benefits of returning to school, many adults who choose to go to college during a recession do so because they are struggling to keep pace with changing technologies in the workplace. Even if you graduated only four or five years ago, you have probably noticed that the technology you use on the job and in your day-to-day life has changed significantly since you were in school. Experienced workers have experience and qualities that businesses want. When you pair a strong record with a higher degree, you become a very valuable asset in the job market. As times get tougher, it is important to be a well-rounded candidate in your chosen industry. A MBA or other higher ed degree helps you to remain relevant in the job market, and provides great skills for advancing in your chosen career.

For some folks, going back to school during a recession provides a great opportunity to make a career change. If you are tired of the industry that you work in, or see limited potential for your own advancement in the future, you might want to take advantage of the opportunity to return to school and make a positive life change. Regardless of what new career path you choose, you will be able to leverage your experience in the work place to help you along your way. Many students who return to school after spending time in the workforce enjoy the opportunity to stretch their minds in new directions and to enjoy a different pace of living. If you are raising a family, going back to school may also allow you to spend more time at home.

Many experienced workers are struggling in today’s economic climate. With the high rate of unemployment and scarce job availability, many intelligent and experienced adults find themselves struggling. Returning to school during tough times provides many benefits. Financial aid may be available to help you not only with the cost of school, but also with your cost of living. New studies help you stay relevant in the ever-changing job market. A higher ed degree can help you gain a promising, secure future. Going back to school in a tough economic climate makes sense, and makes for a brighter tomorrow.

 

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Ways That Going Green Saves A Ton Of Money

Written by Mark Johnson on July 9, 2011 Categories: Saving

In the past decade or so, it seems like people have become much more environmentally friendly. Between technology revolving around a “greener” idea, a lot has changed and is going in the right direction.

Going green isn’t great just because we’re helping the environment, going green also helps us keep green in our wallets. Interested in finding out how? Continue reading below.

Replace your light bulbs: Just by replacing your light bulbs with fluorescent light bulbs, you can save big bucks on your electric bill. Though they may cost more up front, they may also last five times as long for half the price to run them. Consider changing them for every room instead your home, as well as for every light outside.

Change your driving habits: Take a look at your driving habits and look for ways to improve them. For example, consider driving less, running all your errands in one day, driving the speed limit, checking the air in your tires, getting your oil changes when needed and driving slower and less aggressive. Another idea is to carpool with someone you know. Carpooling cuts your gas bills in half, helps the planet and reduces the wear and tear on your car. All these simple changes really add up to a lot of savings!

Replace your appliances: If you have old appliances and you need to replace them soon, go eco shopping and be sure to check out Energy Star appliances. These types of appliances may also cost a little more up front, but the savings over the next ten years or so that you use them will be able to pay off the difference and more. These appliances use less water, less energy and are great for a tight budget.

Cut your water usage: It isn’t uncommon for someone to take really long showers, run the dishwasher and laundry machine, as well as leave the water on the whole time they brush their teeth. Between all these different times when we use water, we’re wasting several gallons on a daily basis. Consider being a little more conservative when it comes to your water usage. If you’re not using it because you need it, turn it off! Also, if you use a recyclable water bottle instead of buying several individual water bottles, you’re saving not only your money, but also the production of making the water bottles and more plastic from being used.

Control the temperatures: Consider getting a programmable thermostat. This is probably one of the biggest ways you can cut costs. Let’s say you’re not going to be home all day, but you don’t want to turn off the heat. Instead, you can program your thermostat to stay at 68 degree the whole time you’re at work, yet have it kick on to 73 just before you get home. Having this much control can really help you save on your bills. Another thing you’ll want to do is turn your hot water heater up 2 degrees in the winter and down 2 degrees in the summer.

Cut back on electric: Try cutting back on your electric by turning things off when you’re not using them. For example, unplug your phone charger when it’s done charging and turn off the TV, lights and computer when you’re not using them.

As you can see, there are several different ways to save money by going green. Consider a few of these tips above and become a better person, a more eco-friendly person and a richer person. You don’t have to make drastic differences in your daily lifestyle, but instead several small ones to make a difference.

 

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U.S. Financial Meltdown: How To Get Your Credit Score Back UP

Written by Mark Johnson on June 3, 2011 Categories: Credit

There is no question that our nation’s financial crisis has left many Americans struggling to make ends meet. Jobs are scarce, but bills and daily needs are not. Average households are financially overextended, and while late payments and foreclosure rates are at record highs, credit scores are at record lows. If your score is too low you may not be getting the best interest rates and possibly even insurance rates. There are, however, a few things you can do to boost your credit score.

You are entitled to a certain number of free credit reports a year, begin by checking your report for errors. Look for things such as, late payments, charge offs, and other negative remarks that are not yours. This can happen more often than you think. If you happened to have filed bankruptcy you should check that everything included in said bankruptcy does not still show as unpaid. Other negative items that are older than 7 years should have automatically fallen from your report also.

There are two major types of credit. Revolving, such as, credit cards and installment loans, such as, mortgages, personal or auto loans. Paying off or paying down an installment loan is good for your credit but it will not affect it as dramatically or as quickly as paying down revolving credit. Many lenders like to see a good ratio between available credit and the credit you are actually using. In other words, if you have credit card with a $5,000 limit creditors would prefer to see that you are only using 30% or less of available credit. Many advisors will suggest paying off the one with the highest interest rate first. This is a good strategy to save you money, however, if you are looking to improve your credit you should tackle the ones that are closer to their limit.

Older credit tends to look better too, so if you have an old card you haven’t used in a while the issuer may close that account or simply stop reporting updated information. It will still appear on your report but may not be considered as heavily in calculating your score. You could charge a small bill to a rarely used account like this and pay the balance in full.

If you have been a good customer in the past, you might want to contact your lender and request a “goodwill adjustment”. This may have to be made in writing depending on the institution’s policies, but you could possibly get a late payment of delinquency erased. It doesn’t hurt to ask.

Beware of common mistakes that are often made to improve credit scores that tend to hurt more than help. Consolidating your accounts, it is generally better to have several small accounts than one large one. Asking to have your limits lowered is also a no-no, this negatively affects that ratio between used and available credit. If you have plenty of credit it’s not really that helpful to apply for more, having to much credit will reflect negatively.

These tips may not take you from a score of 600 to 760 in a month, but they will get you started on the right track.

 

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How to Save Money During a Recession

Written by Mark Johnson on May 19, 2011 Categories: Saving

With the economy in shambles, people are always looking for ways to save their money now more than ever. There are numerous ways to get the best out of your dollar and save yourself a lot of money in the process.

One way to truly save everyday during a recession is to make your own food. Why spend your money every single day going to McDonalds or a fancy restaurant spending a lot of money. You could potential save yourself hundreds of dollars every week by just going to the grocery store and catching some sales. Plan out your meals for breakfast, lunch, snack, and dinner. Also, if you have the land, you can grow your own foods which save you money on buying fruits and vegetables. If you’re great with planting, definitely take this to your advantage as the cost of foods goes up significantly.

Another way to save money during a recession is to create another avenue of income. There are countless ways you can make money from home such as selling affiliate products online through a cheap webhost. Or creating a blog that allows people to advertise on it for a certain fee. This will help bring you a new set of income that you can save for a rainy day. In this type of economy, it’s always great to have multiple streams of income. The job market is volatile, so it’s good to have some side plans in case things don’t work out for your main source of income.

For vacation purposes, make sure you plan ahead and make your trip shorter. A lot of times we can’t afford the expensive trips overseas or for a long period of time. However, maybe a trip out of a state or to a beach a few hours will help. It’s always good to de-stress and just get away for a few days. Maybe there’s a festival or a cultural event that’s free. It’s always good to plan a time where everyone can go so that you can save up your money ahead of time. It’ll be much more cost effective and enjoyable for your family. Also, you’ll save a lot of money by just driving there and getting some snacks for the road instead of taking a flight. Maybe you might find a nice condo to rent for the weekend that’s much cheaper than some hotel rooms.

Lastly but probably one of the most things to do is to decrease the impulse shopping. There are a lot of ways to save money on purchasing items. Trying to buy a beautiful gift for your wife? Well, there are some great New York & Co Coupons that will save you a lot of money on precious items like jewelry. You don’t have to go to your local jeweler. Sometimes, waiting it out and looking for a better deal will be more satisfactory. Christmas can be a time where you don’t have to spend an arm and leg because you can do the after Christmas sales and extend your holiday into the New Year. Amazon.com is a great place to rack up on Christmas sales with big price reduction in the convenience of your own home. With the online market outweighing retail stores, Cyber Monday deals are also on the top tier list for buying appliances, electronics, and much more. The recession has made a new market for the online shopper as they get more accustomed to saving money in hard times. By having a better budget and better spending habits, you’ll be able to save more in an unstable economy.

 

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Having Bad Credit in Our Economy

Written by Mark Johnson on April 19, 2011 Categories: Credit

Bad Credit? Turn it Around.

Credit is that six-letter word that makes some of us cringe. Credit can be good or bad. If you have bad credit in today’s economy, likely you feel stuck behind a slow moving truck. Others seem to be taking off and moving forward financially, while you are told “No” and “Denied” at every crossroad. Right now is the perfect time to buy a home. It’s a buyers market, but no one with a sub prime credit score will be doing any buying. Money is tighter than ever in this economy. Lenders are scrutinizing the borrower’s every detail. If you have bad credit, you won’t even make it into the scrutinizing stage.

But there is good news. There is always a second chance to build good credit. Most negative accounts are removed from your credit in 7 years. For bankruptcies and foreclosures, it takes 10 years to clear. Most lenders take your current history into consideration more than your past mistakes. You may have had troubled times 5 years ago, but what patterns have you established in the last 4 years that would warrant a second look from a lender? These proven habits will surely raise your credit if you apply them consistently. If you are a business, you can always use these tips when you look for the best business credit cards.

1. Make payments on-time. Making payments on time is a key factor in raising your credit to good standing. To help establish a pattern, you might look into setting up electronic automatic drafts from your banking account. Set it up once and every month you are sure to be on-time.

2. Work at paying down your debt. The next important key in weighing credit is your percentage of revolving credit debt compared to your earnings. In other words, the lender is looking at your realistic ability to pay. If your credit cards are maxed out, pay them down. The less debt you hold, the more available credit you will have.

3. Do not have a lot of unnecessary accounts open. If you’ve ever been in a department store and they ask you, “Save 15% to open a credit account with us today?” Unless, you’re making a large purchase and you feel you have the available credit, don’t do it. The less accounts you have open, the better. It’s the same concept as reducing your debt. The less, the better your credit is going to look to potential lenders.

4. Keep older accounts open. The longer you have maintained a revolving account, such as a credit card, the more stable you appear to be. If you have a credit card that has a lot of missed payments or is overdrawn, the first instinct might just be to close the account. It would actually be better for you to take your negative credit item and turn it around. Again, lenders will weigh recent behaviors and patterns against past mistakes. Commitment to paying off your debt will help bring your credit back to good standing.

Having bad credit in this economy can be frustrating. But have faith, bad credit is not permanent. With these easy habits you can build your credit back up and start taking advantage of the opportunities available. Most important, remain committed and consistent to improving your credit. Before you know it, your bad credit will become good and you will be able to maximize the benefits of having good credit.

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Best Cash Back Cards

Written by Mark Johnson on March 21, 2011 Categories: Credit, Saving

Cash back credit cards are gaining momentum and competition between card companies is at its peak. Their popularity skyrocketed along with the drooping global economy that pushes people to save every penny. With this, many are attracted to purchase goods using their credit cards, holding on to the fact that they get cash rebates with every swipe. Many see cash back credit cards as far better than air miles and points.

Cash back card users can earn about 1% cash back every time they purchase goods from supermarkets or gas stations using their card. This will eventually accumulate and when certain amount or a required period of time is reached, consumers will be able to receive a check or statement credit. Not so long ago, there were some cash back cards offering 5% cash back on all purchases. Nowadays, most of these companies only offer 1% cash back but there are some purchase categories with higher cash back incentives.

Considering the global economic crisis today, every penny counts. That is why cash back cards are very advantageous in the present day. Customers with excellent credit records get the most lucrative offers from banks and cash back card companies.

• Among the best cash back credit card offers is the Chase Freedom Visa from JPMorgan Chase. This card has the highest signing bonus for all its customers in the US. Card holders can earn as much as 10% cash back every time they purchase goods from Chase’s online mall. Until December, card users can enjoy 5% cash back in some categories, including dining and movie theaters, and 1% cash back for other purchases. For new cardholders, Chase Freedom Visa offers a $200 statement bonus when they spend $500 in their first three months, giving them 40% cash back for their very first purchase.

• American Express’ Blue Cash Everyday (SM) also gives their customers great cash back deals. Cardholders can get as much as 3% cash back at supermarkets, 2% at gas stations and department stores and 1% for all other purchases. These rates are applied all year round with no annual fees and no minimum amount required for purchases. Customers also get an additional 1% cash back when they pay bills using the card through the American Express Automatic bill pay service.

• Discover More Card also has a lot of cash back bonuses in store for all of their valued customers. It offers a 5% cash back bonus for rotating categories daily and 5% cash back for other purchases from supermarkets, department stores and restaurants. All other purchases offer 1% unlimited cash back. Shopping through ShopDiscover online store also gives cardholders from 5% to 20% cash back.

• For business cash back cards, Ink Cash (SM) Business card guarantees 5% cash back for the first $25,000 spent on the purchase of office supplies and telecom and cable services annually. With flexible payment terms, business cardholders will be able to manage their cash flow effectively. Ink Cash (SM) Business also offers $250 Bonus Cash Back.

• Citi Dividend World Master Card also gives its customers great advantages when using their cash back cards. After spending $500 in the first three months, consumers can get a $100 bonus plus 5% cash back for rotating categories and 1% on other purchases. There is no minimum amount that needs to be spent in order to qualify for cash back.

There are a lot more cash back card offers that everyone can choose from. However, you should always consider a card’s interest rate and your capacity to pay before applying for cash back credit cards.

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