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Savvy Vocab
Definition: Transumer
The marketing world loves buzzwords, and the latest refers to consumers who prefer to rent than buy. Trendwatching, an Amsterdam-based market-research firm coined the term transumer, and according Reinier Evers of Trendwatching, it's a lifestyle "that's less about treasure and more about pleasure."
The motivation behind renting instead of buying could be convenience, cost, or space limitations, and consumers are borrowing everything from handbags and sunglasses to cars and DVDs.
Definition: Stress Test
The Federal government has been busy performing stress tests on the 19 largest banks in the US to estimate how much capital these institutions may need if the economy worsens. The results of these tests will be announced on May 4, and the final report should separate the banks on the road to recovery from the banks that would need more government bailout money.
Karin Maloney Stifler, a certified financial planner, suggests performing your own personal stress test to evaluate how long you could make ends meet after a lay-off or medical emergency.
Definition: Grocery Auction
Do I hear $3.00 for this crate of clementines? In an economic move, auctioneers have expanded their selection of items for sale to include food products, otherwise known as grocery auctions. They're selling everything from apples and zucchini to diapers and frozen pizzas.
Definition: Tax Freedom Day
Happy Tax Freedom Day! Too bad it's not a company holiday that gives us a day away from the office, right? The semi-holiday signifies that enough days have passed in the current year for most Americans to have paid their annual tax bill.
Back to Basics: Six Money Related Words and Phrases
There's no such thing as being too well-versed in the world of money words and phrases. Check out these six definitions to refresh your memory, or learn something new about the jargon of funny money.
Interchange Fees
Piggybacking
Debt Snowball Plan
Grace Period
Spot Budgeting
Standard Deduction
I'm Asking: What Work Jargon Makes You Cringe?
Each workplace has its own language. It could be a companywide greeting ("Hello! Welcome to Gap!"), so-called inspirational sayings, or status report type terms ("You can just go ahead and get me that by EOD.
Back to Basics: 9 Critical Career-Related Words and Phrases
Keeping up with career and job market terms is key to staying ahead. Sure, you may sound like a dork when you describe your co-worker who fabricates problems to make herself look better as a "Munchausen at work," but I guarantee you will send your manager on a Google mission. Most of us agree that wordiness isn't always necessary for the workplace, but I encourage you to stay in the know.
Definition: Making Work Pay Tax Credit
The Making Work Pay tax credit is a provision in the economic stimulus bill signed last week, formally known as the American Recovery and Reinvestment Act. While the stimulus package enacted under the Bush administration sent Americans paper rebate checks in the mail, this provision will provide taxpayers with a refundable tax credit that will show up in their paychecks beginning early this Spring.
According to the IRS, the tax credit will be calculated at a rate of 6.2 percent of earned income, and will phase out for taxpayers whose adjusted gross income exceeds $75,000, or $150,000 for married couples filing jointly.
Definition: Furlough
There are many types of leave defined as furloughs, but recently the term has been in the news referring to forced, unpaid hiatuses for salaried workers. Traditionally, these short-term periods of unpaid days off were limited to industries like construction that have sharp seasonal business changes. However, The Wall Street Journal reports that furloughs are now being utilized by state governments and universities, publishing and technology companies, and the arts and entertainment industry.
Definition: Quits Rate
The quits rate is used by the Bureau of Labor Statistics to track how many people are quitting their jobs. The most recent Job Openings and Labor Turnover Survey reports that in recent months, the quits rate has been at its lowest since 2000, when the government started the tracking system.
The drop in the number of quits shows how unwilling (or unable) Americans are to give up their jobs.
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