SavvySugar

Dollars and Sense: Kids Books About Money

LilSugar — Mon, 22 Aug 2011 03:25:09 PDT

The Beatles may have gotten it right when they sang, "I don't care too much for money, for money can't buy me love," but the fact remains that money is an essential part of our lives. The current economic downturn has impacted American families from all walks of life, and that includes tots. Parents want to protect their carefree children from the financial anxieties that keep them up at night, but even toddlers can pick up on stress within the home. Books can help with communication regarding family budgets or cutbacks that may be happening by presenting them in a clear and age-appropriate manner. Keep reading for a selection that will help guide parents through the confusing issues surrounding money and finances.

Don't Let Camping Break the Bank - Rent Gear Instead

Michele Foley — Wed, 25 May 2011 12:42:28 PDT

I love renting bikes when I am on vacation. It's a great way to incorporate exercise when traveling and an easy way to test out the waters if you're thinking about buying one. But bikes aren't the only fitness-related things you can rent, which is something I learned when visiting my favorite outdoor gear store, Sports Basement.

While I was waiting in line to make my purchase I was surprised to see someone renting all the essentials for a weekend of camping: tent, stove, sleeping bag, and even trekking poles. When I spoke to the salesperson, he told me that more and more local gear stores are renting equipment because it encourages people to hit the outdoors without having to make a major investment up front. I was also happy to find out that national chains like REI, Sports Authority, Eastern Mountain Sports, and Sport Chalet also rent gear. But if you're nowhere near a sports store, don't fret, you can also rent gear online or by phone from LowerGear, who will ship the equipment to you. Besides camping equipment, most stores rent gear for snow sports, tennis, water sports, and cycling. In general, the rental prices are up to 90 percent off what it would cost to buy the same stuff.

I'm pretty stoked about the idea of renting gear and am already making plans to rent a two-person kayak with a friend. It's a great way to get in shape without having to commit yourself to a huge investment, especially for sports that have a limited season.

How to Become a "Recession-Proof Graduate" and Get Your Dream Job

Emily Co — Mon, 16 May 2011 03:05:32 PDT

Looking for an alternative to CareerBuilder and Monster? You might want to listen to what superstar marketer Charlie Hoehn has to say. If you're sick of getting rejection letters and would like to start getting called by companies who want to hire you, free work is the answer. Charlie says free work isn't what you think it is - it's not an internship. Instead, it's freelance projects that you pick to work on, which does not entail running around getting coffee for people.

Another great piece of advice from the marketing guru who worked with Tim Ferriss is that resumes are passé, because your employer will definitely Google you to see what's out there so you need to start developing your online presence. Watch the video below for more of his tips:

Top 1% Earns Almost a Quarter of Nation's Income

Diana Nguyen — Thu, 07 Apr 2011 05:00:58 PDT

In the May issue of Vanity Fair, Nobel Prize-winning economist Joseph E. Stiglitz collects some shocking statistics in his thought-provoking piece, "Of the 1%, by the 1%, For the 1%." According to Stiglitz, the top one percent of Americans, including business tycoons, congressmen, and banking execs, secure nearly a quarter of the country's income a year and controls 40 percent of the nation's wealth. On the other hand, the working man, with only a high school diploma, has seen a 12 percent decline in his income in the last 25 years. America is a beacon of income inequality, Stiglitz says, and while rich Republicans bemoan the reach of an oversize government, this is the same government - with all its partisanship and gridlock - that enables this economic disparity.

To see Stiglitz's ideas to help close the economic gap, read on.

Suze Orman Debunks Money Myths

Emily Co — Fri, 11 Mar 2011 05:00:46 PST

Before the recession, we were living in a happy bubble, in which real estate prices kept on rising (or so we thought), and Wall Streeters lived like fat cats. Then everything came crashing down - the economic bubble burst, the housing market collapsed, and the big bankers landed on their feet. The truth is, America isn't the same anymore. We have a national debt of over $14 trillion and what once were solid pillars of our nation, like education and social security, are being sacrificed for budget cuts. Yes, we are slowly recovering, but we're living in a different time now. Suze Orman addresses these changes in an interview with Time magazine.

No More American Dream. According to Suze, the American dream was the idea of "bigger, better, newer," and a mentality of "how do you buy stuff without any money?" Credit cards were as easily accessible as candy, and consumer debt kept piling up. But now, Suze says "the old American dream really is dead," because it's incredibly hard to get a loan, mortgage, credit, and jobs. Reality isn't pretty, but it's something everyone faces.

Money Dictates Your Education. You can't go to the best school you get into and worry about paying it off later, says Suze. That's because you don't have the stability of a job offer anymore so if you don't get a paying job after college, you can't afford to pay off your loan. The personal finance expert advises to pick a school based on a loan that you know you can afford to pay off. And yes, this might mean no four year college for you.

Nix Loans to Family. A loan to your family is "either a gift, or it's not," says Suze. That's because your loan will be your family member's lowest priority among other financial obligations like credit card debt, student loans, 401k payments, and more.

Waste Not, Want Not: Consumers Hang On to Frugal Recessionary Habits

Emily Co — Fri, 25 Feb 2011 13:05:34 PST

The recession was a shock to everyone's systems, and as a result, more people have picked up frugal habits. According to a New York Times article, consumers have stuck with those thrifty ways post-recession.

One of the bigger saving trends is extending the life of products. For example, people are taking longer to upgrade cars and gadgets like phones and laptops; even daily hygiene products like toothpaste and shampoo are being used to the last drop. And this isn't just a temporary behavioral shift. Nancy F. Koehn, a professor at the Harvard Business School and consumerism expert, believes that this attitude will be permanent or long-lasting, because of insecurities about how reliable the government and major companies are in a financial crisis.

It seems like people are straying away from the shiny new things and opting for the necessities route. What about you? How often do you upgrade your gadgets?

The Recession Strengthened Marriage Vows, Survey Finds

Emily Co — Fri, 04 Feb 2011 13:40:42 PST

Wow, on top of all the unique aftereffects of the recession, here's another one: 38 percent of people have postponed divorce or separation plans due to the recession, a survey by the National Marriage Project at University of Virginia finds. Not only that, but another 29 percent said that the economic downturn has "deepened their marriage vows."

Don't forget, though, there's also research out there that shows the recession is bringing about fewer marriages. In fact, 2009 saw an all-time record low in the number of registered marriages in a whopping 100 years. This really drives home the fact that marriage isn't a union that should be based solely on love - it's also about finding your money mate as well. It's important to be very honest with your partner about finances, and it makes things go a lot smoother if you're on the same page about issues such as debt, spending, and saving. These are thorny topics that will definitely pop up during your relationship, so make sure to address them early on. Remember, there are plenty of ways to bring up this touchy subject, and tax season is the perfect time to talk about dollars and cents with your other half!

Has the recession affected your relationship in any way?

Recession Aftereffect: Game Show About Repossessed Cars

Emily Co — Tue, 01 Feb 2011 11:28:08 PST

The recession has brought about many things, one of which is a series of TV shows that highlight the downturn in the economy. There's a new one on the block: the brains behind Jersey Shore have come up with "Repo Games," according to CNN. It's a game show hosted by repo men and will feature contestants who are about to lose their cars due to faulty payments. The participants will have to answer five questions, and if they get three out of five right, they'll be able to get their car back. To top it all off, their car will be paid in full.

It can be a great deal for those who have fallen behind on payments (if they win), but it seems slightly cruel to make a quiz show out of what must be a very stressful ordeal. What do you think of the show - would you watch it?

Plenty of Jobs Around, but Not Many High-Paying Ones

Emily Co — Mon, 31 Jan 2011 10:55:30 PST

The good news is that jobs are coming back, the bad news is the pay of those jobs are far from stellar, said CNN. According to experts, this job recovery is mainly driven by temp and low-wage jobs, which is concerning. "Growth has been concentrated in mid-wage and lower-wage industries. By contrast, higher-wage industries showed weak growth and even net losses," said Annette Bernhardt, a co-director for the National Employment Law Project.

However, not all high-wage jobs have been affected - positions for registered nurses, considered to be very high-paying jobs, are expected to have the most increase in the next decade. It's not certain whether this job trend will continue, and it'll be dependent on many factors, including the global economic recovery. For job hunters who are anxiously searching, check out the fields that have had the most job growth.

The Most Shocking Effect of the Recession in 2010

SavvySugar — Mon, 13 Dec 2010 14:20:27 PST

Another year passes, and more tales of bankruptcies and unexpected aftereffects of the recession emerge. It was a close call, but SavvySugar readers voted Blockbuster going bankrupt as the most shocking effect of the recession this year. Blockbuster beat out surprising trends like single, older women moving in together to save money, millionaires gobbling up McDonald's to budget, libraries turning into for-profit entities, as well as Warren Buffett saying we should tax the super wealthy (like himself).

It seems that although people are turning to online rentals and streaming services because of convenience and speed, Blockbuster still holds a special place in America's heart. I'm sure plenty of you have great memories of the famous blue and gold store and are used to seeing it around. However, changing times means a change of guards, and Netflix now holds the title as the gatekeeper to entertainment. I'm betting former Blockbuster CEO John Antioco regrets laughing at and turning down Netflix's offer to partner up in 2000.

Source: Flickr User jswafford