SavvySugar

Definition: Transumer

SavvySugar — Mon, 02 Nov 2009 06:00:54 -0800

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. Evers explained, "On the one hand, you have consumers who want to collect as many experiences and part-time possessions as possible. And then there are transumers who value non-ownership for environmental reasons: to only use something when you really need it, which involves everything from renting to passing something on to the next person." Enter another buzzword: the eco-transumer.

Do you identify with either type of transumer?

Definition: Stress Test

SavvySugar — Tue, 28 Apr 2009 04:30:50 -0700

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. She outlines four pieces to this test: "Check the accessibility of your reserves; Determine where you can slash expenses; Assess income sources; Evaluate your support network." Give yourself a rating between one and five, and consider creating a better financial plan if you score less than three on more than one area.

Source

Definition: Grocery Auction

SavvySugar — Tue, 21 Apr 2009 04:30:20 -0700

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.

According to one Michigan-based auctioneer, customers are saving 25 to 50 percent at auctions compared to typical grocery store prices. Before heading to a grocery auction it's important to familiarize yourself with standard retail prices so you don't end up bidding more than the item costs in a store, and be advised that some items are approaching their sell-by dates or have recently expired.

Want to see what grocery auctions are all about? Find one near you by visiting auctionzip.com, typing the word grocery where the site asks for a keyword, and searching by your zip code.

Source

Definition: Tax Freedom Day

SavvySugar — Mon, 13 Apr 2009 04:30:21 -0700

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. We are 103 days into 2009, and according to the Tax Foundation, workers technically pocket every penny of our paychecks from now until the end of the year.

Tax Freedom Day does not always fall on April 13, and it's never the same for every state. Alaska's low average income and low tax burden allowed the state to celebrate Tax Freedom Day on March 23, and the day has come and gone for Louisiana, Mississippi, South Dakota, and West Virginia, too. On the other hand, Connecticut won't celebrate until April 30 due to its reportedly sky-high federal income tax bills. New Jersey, New York, California, and Maryland have their Freedom Days earlier than Connecticut but fall into the five latest states to celebrate.

Source

Back to Basics: Six Money Related Words and Phrases

SavvySugar — Wed, 18 Mar 2009 13:30:07 -0700

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?

SavvySugar — Tue, 17 Mar 2009 11:30:44 -0700

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. Thanks!"). While a shared vocabulary does a long way in terms of keeping communication precise and direct, it can also wear at you.

At one of my first jobs out of college, my boss had a habit of saying "let's sit down with our red pens and put our heads together" at least once a week, which would prompt my entire department to shudder (I think I can still see us all shaking!). What word or phrase makes you look up at the clock and wish for the weekend?

Source

Back to Basics: 9 Critical Career-Related Words and Phrases

SavvySugar — Fri, 13 Mar 2009 13:30:58 -0700

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. Here are some words and phrases that will help you come across as particularly savvy. Just don't pack them all into one conversation.

Elevator Speech	Functional Resume	Furlough
Golden Parachute	Manage Up	Munchausen at Work

Personal Brand

Soft Skills

Sabbatical

Definition: Making Work Pay Tax Credit

SavvySugar — Thu, 26 Feb 2009 13:30:30 -0800

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. The tax credits will come out to a maximum $400 for working individuals and $800 for married taxpayers filing joint returns, and the amounts will be handled through automated withholding changes. For more information on the Making Work Pay tax credit, visit the IRS website.

Source

Definition: Furlough

SavvySugar — Wed, 25 Feb 2009 13:30:44 -0800

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.

Employers struggling with budget issues use furloughs to buy time - it allows them to maintain a talented staff in hopes that they'll be needed when business picks up, but saves money in the meantime. For example, the State of California instituted furlough days for state employees that forced workers to stay home two Fridays every month.

Source

Definition: Quits Rate

SavvySugar — Thu, 12 Feb 2009 13:30:04 -0800

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. Plenty of people probably have the desire to leave their current positions, but the lack of opportunities and general economic uncertainty are deterring them from making the jump.

Source