We have finalized the design of our E-week posters and soon they will be up all over the place on campus! Make sure to pay attention when you see them!
We have finalized the design of our E-week posters and soon they will be up all over the place on campus! Make sure to pay attention when you see them!
Wednesday, March 18, 2009
Use a credit card wisely and you can reap benefits like cash back, bonus points and airline miles, not to mention a better credit score. Use it unwisely and you could end up under a mountain of debt.
The No. 1 rule is: Pay off your balance every month. Otherwise, you'll pay interest on your purchases. Paying the balance takes discipline. About 40% of households carry credit card debt, according to the Federal Reserve.
1-Protect your good name (and score)
-Make your payments by the date -- and time -- they're due. Late fees are $29 or more. A couple of late payments will trigger an interest rate increase. Because late and missed payments lower your credit score, the interest rate can go up on your other credit cards and for future loans as well.
-Limit the number of cards you have. Experts recommend having two to six cards. Applying for lots of cards can hurt your credit score. Conversely, closing several credit cards at once will trigger a decrease in your score.
-Read the fine print. Know the interest rate you will be charged, the grace period for paying your debt before interest kicks in and your credit limit. Federal regulators have adopted new rules that clamp down on the credit card industry and are aimed at protecting consumers, but they don't kick in until July 2010.
-Negotiate. If your credit score is 700 or above, you may be able to get a lower interest rate or get the company to drop a late fee.
-Don't exceed 30% of your credit limit on each card. Credit bureaus don't care if you pay off your balance each month. They're interested in how much of your available credit you use. If it's excessive, your credit score will drop.
Credit card companies market different types of cards, featuring low interest, rewards or other benefits. Be careful about the terms, which are subject to change.
If you're transferring a balance to a new card with lower interest, find out how much the company will charge for the transfer. Urge that it be done electronically so you don't accumulate interest on both the old and new accounts. Low-interest introductory offers may apply only to the balance transfer and not to new purchases.
Reward cards that provide dividends like rebates and airlines miles sound too good to be true, and can be. The higher interest rate charged by most reward cards can more than offset the reward if you carry a balance. Reward offers can change with little notice and may come with budget-busting conditions -- for instance, you have to spend a certain amount to earn the reward.
If you buy a defective item or protest a charge, your credit card company is obligated to investigate. If your card is stolen, you're liable for no more than $50 for unauthorized charges.
Other "services" offered by credit card companies have potential drawbacks.
Contactless credit cards make it even easier to purchase items because you don't need to swipe your card or hand it to a cashier. But thieves can scan the info on your card. You can buy a signal-blocking sleeve or make one out of aluminum foil.
Don't use "convenience" checks your credit card company sends you unsolicited in the mail. They're costly -- with a fee of 3% or 4% of the amount you write, plus high interest rates with no grace period -- and don't provide the consumer protection you get when you make a purchase with your credit card. Credit card protection insurance generally covers only the minimum payment if you become disabled or unemployed, and interest continues to build on your outstanding balance. Using a credit card issued by a department store you frequent can entitle you to cardholder discounts, but limit yourself to one card. Each department store account you open reduces your credit score.
Getting and using a credit card could be the easiest way to re-establish credit if yours has gone sour. But getting back into the credit game comes with potential hazards.
Cards issued to those considered credit risks come with interest rates in the 18% to 22% range and low spending limits. Such cards sometimes have extra fees hidden in the fine print. Don't take the bait when companies want to issue you one low-limit card after another. You can find yourself back in debt, paying late fees, over-limit fees and high interest rates on multiple cards.
If you've fallen off the wise-spending wagon, seek counseling from a nonprofit credit-counseling agency certified by the National Foundation for Credit Counseling.
Tired of unsolicited offers of pre-approved cards? Call 1-888-5 OPT-OUT
The No. 1 rule is: Pay off your balance every month. Otherwise, you'll pay interest on your purchases. Paying the balance takes discipline. About 40% of households carry credit card debt, according to the Federal Reserve.
1-Protect your good name (and score)
-Make your payments by the date -- and time -- they're due. Late fees are $29 or more. A couple of late payments will trigger an interest rate increase. Because late and missed payments lower your credit score, the interest rate can go up on your other credit cards and for future loans as well.
-Limit the number of cards you have. Experts recommend having two to six cards. Applying for lots of cards can hurt your credit score. Conversely, closing several credit cards at once will trigger a decrease in your score.
-Read the fine print. Know the interest rate you will be charged, the grace period for paying your debt before interest kicks in and your credit limit. Federal regulators have adopted new rules that clamp down on the credit card industry and are aimed at protecting consumers, but they don't kick in until July 2010.
-Negotiate. If your credit score is 700 or above, you may be able to get a lower interest rate or get the company to drop a late fee.
-Don't exceed 30% of your credit limit on each card. Credit bureaus don't care if you pay off your balance each month. They're interested in how much of your available credit you use. If it's excessive, your credit score will drop.
Credit card companies market different types of cards, featuring low interest, rewards or other benefits. Be careful about the terms, which are subject to change.
If you're transferring a balance to a new card with lower interest, find out how much the company will charge for the transfer. Urge that it be done electronically so you don't accumulate interest on both the old and new accounts. Low-interest introductory offers may apply only to the balance transfer and not to new purchases.
Reward cards that provide dividends like rebates and airlines miles sound too good to be true, and can be. The higher interest rate charged by most reward cards can more than offset the reward if you carry a balance. Reward offers can change with little notice and may come with budget-busting conditions -- for instance, you have to spend a certain amount to earn the reward.
If you buy a defective item or protest a charge, your credit card company is obligated to investigate. If your card is stolen, you're liable for no more than $50 for unauthorized charges.
Other "services" offered by credit card companies have potential drawbacks.
Contactless credit cards make it even easier to purchase items because you don't need to swipe your card or hand it to a cashier. But thieves can scan the info on your card. You can buy a signal-blocking sleeve or make one out of aluminum foil.
Don't use "convenience" checks your credit card company sends you unsolicited in the mail. They're costly -- with a fee of 3% or 4% of the amount you write, plus high interest rates with no grace period -- and don't provide the consumer protection you get when you make a purchase with your credit card. Credit card protection insurance generally covers only the minimum payment if you become disabled or unemployed, and interest continues to build on your outstanding balance. Using a credit card issued by a department store you frequent can entitle you to cardholder discounts, but limit yourself to one card. Each department store account you open reduces your credit score.
Getting and using a credit card could be the easiest way to re-establish credit if yours has gone sour. But getting back into the credit game comes with potential hazards.
Cards issued to those considered credit risks come with interest rates in the 18% to 22% range and low spending limits. Such cards sometimes have extra fees hidden in the fine print. Don't take the bait when companies want to issue you one low-limit card after another. You can find yourself back in debt, paying late fees, over-limit fees and high interest rates on multiple cards.
If you've fallen off the wise-spending wagon, seek counseling from a nonprofit credit-counseling agency certified by the National Foundation for Credit Counseling.
Tired of unsolicited offers of pre-approved cards? Call 1-888-5 OPT-OUT
I'm sick and tired of reading, writing and hearing about how bad things are these days: The economy stinks, stocks are tanking, people are losing their jobs in droves.
The economy has got to turn around soon. But how the heck will we know when the turn has come?
Here are five key signs that I have been watching for, plus some extras from experts and a couple from just plain folks eager to see some evidence of a recovery.
1) Indexes start rising
There was a flicker of good news in February, when the Economic Cycle Research Institute's Weekly Leading Index rose for the first time in six weeks.
The index, a composite of daily and weekly data on economic drivers of the business cycle, including corporate profits and housing activity, is still looking pretty weak, said Lakshman Achuthan, the managing director at ECRI, but it has stopped falling, and there has been some stabilization since mid-December.
"When these leading indexes begin to start rising, that will be a very clear and, as importantly, a very objective sign of a recovery," Achuthan said.
Detailed information about the institute's research is available only to subscribers, but the leading index is frequently mentioned in news reports and is worth following as a reliable indicator of key changes in the business cycle.
Another statistic worth following is consumer spending. That is already showing some signs of life. Consumer spending constitutes about 70% of the U.S. economy. When consumers spend, the economy grows. Consumer spending rose 0.6% in January, after a 1% decrease in December and a 0.8% drop in November.
2) Cardboard boxes are in demand
Cargo and cardboard are two heavy-duty industrial signals to watch.
The Baltic Dry Index is an assessment of the price of moving raw materials on cargo ships around the world. When the world economy is fading, shipping gets cheaper. When growth returns, shipping costs more. The index has shown some improvement this year, after sinking to a 22-year low in early December.
"In terms of a glimmer of hope, a tap has been turned," said Michael Gaylard, a derivatives broker at Freight Investor Services.
"The fundamentals -- the raw materials needed that are paramount to infrastructure rebuilding and investment around the globe -- they're starting to move," Gaylard said. "Once the flows that we've seen in the past few weeks start to have some continuity to them, then the market will rebuild. The turnaround has started, but it's going to be a long and slow process."
Then-Federal Reserve Chairman Alan Greenspan used to watch the cardboard box business as an indicator of industrial production. About 75% of all nondurable goods are shipped in corrugated cardboard boxes; when demand for boxes is high, that's a sign that the economy is doing well.
3) Diamonds are forever . . . again
Jewelry sales are a leading indicator of recovery in the retail sector, according to Mike Niemira, the chief economist at the International Council of Shopping Centers. So what better store to watch than Tiffany?
Sales of engagement rings have been down in recent months, said Mark Aaron, the company's vice president of investor relations.
"It's not that people don't fall in love during a recession," Aaron said, "It's whether they're making that commitment and buying a $10,000 engagement ring and making wedding plans.
"When people start to feel a little more secure about their jobs, when the stock market starts to stabilize, that might be enough to help restore confidence. If we see greater interest in the big-ticket items and a pickup in store traffic, that will be encouraging."
So what are other people watching?
Mike McLaughlin, an sneaker salesman and an avid golfer from Salt Lake, said he'll know things are improving when tee times become more expensive and harder to get.
Jen Sundstrom, a pharmaceutical sales representative in Provo, will know when she finds herself back at Whole Foods Market for all of her grocery shopping.
Eric Goldberg, a regular at Northern Exposure, said his indicator is "the amount of time it takes to get a seat at the bar." It's been easier to find a seat because fewer people have been out, he said.
Other people said they'd know a recovery was coming when they:
-Upgraded to a bigger flat-screen television.
-Saw lawyers working until 2 a.m. again.
-Replaced generic dog food with organic brands.
-Bought Starbucks lattes again.
-Rejoined a gym and purchased sessions with a personal trainer.
The economy has got to turn around soon. But how the heck will we know when the turn has come?
Here are five key signs that I have been watching for, plus some extras from experts and a couple from just plain folks eager to see some evidence of a recovery.
1) Indexes start rising
There was a flicker of good news in February, when the Economic Cycle Research Institute's Weekly Leading Index rose for the first time in six weeks.
The index, a composite of daily and weekly data on economic drivers of the business cycle, including corporate profits and housing activity, is still looking pretty weak, said Lakshman Achuthan, the managing director at ECRI, but it has stopped falling, and there has been some stabilization since mid-December.
"When these leading indexes begin to start rising, that will be a very clear and, as importantly, a very objective sign of a recovery," Achuthan said.
Detailed information about the institute's research is available only to subscribers, but the leading index is frequently mentioned in news reports and is worth following as a reliable indicator of key changes in the business cycle.
Another statistic worth following is consumer spending. That is already showing some signs of life. Consumer spending constitutes about 70% of the U.S. economy. When consumers spend, the economy grows. Consumer spending rose 0.6% in January, after a 1% decrease in December and a 0.8% drop in November.
2) Cardboard boxes are in demand
Cargo and cardboard are two heavy-duty industrial signals to watch.
The Baltic Dry Index is an assessment of the price of moving raw materials on cargo ships around the world. When the world economy is fading, shipping gets cheaper. When growth returns, shipping costs more. The index has shown some improvement this year, after sinking to a 22-year low in early December.
"In terms of a glimmer of hope, a tap has been turned," said Michael Gaylard, a derivatives broker at Freight Investor Services.
"The fundamentals -- the raw materials needed that are paramount to infrastructure rebuilding and investment around the globe -- they're starting to move," Gaylard said. "Once the flows that we've seen in the past few weeks start to have some continuity to them, then the market will rebuild. The turnaround has started, but it's going to be a long and slow process."
Then-Federal Reserve Chairman Alan Greenspan used to watch the cardboard box business as an indicator of industrial production. About 75% of all nondurable goods are shipped in corrugated cardboard boxes; when demand for boxes is high, that's a sign that the economy is doing well.
3) Diamonds are forever . . . again
Jewelry sales are a leading indicator of recovery in the retail sector, according to Mike Niemira, the chief economist at the International Council of Shopping Centers. So what better store to watch than Tiffany?
Sales of engagement rings have been down in recent months, said Mark Aaron, the company's vice president of investor relations.
"It's not that people don't fall in love during a recession," Aaron said, "It's whether they're making that commitment and buying a $10,000 engagement ring and making wedding plans.
"When people start to feel a little more secure about their jobs, when the stock market starts to stabilize, that might be enough to help restore confidence. If we see greater interest in the big-ticket items and a pickup in store traffic, that will be encouraging."
So what are other people watching?
Mike McLaughlin, an sneaker salesman and an avid golfer from Salt Lake, said he'll know things are improving when tee times become more expensive and harder to get.
Jen Sundstrom, a pharmaceutical sales representative in Provo, will know when she finds herself back at Whole Foods Market for all of her grocery shopping.
Eric Goldberg, a regular at Northern Exposure, said his indicator is "the amount of time it takes to get a seat at the bar." It's been easier to find a seat because fewer people have been out, he said.
Other people said they'd know a recovery was coming when they:
-Upgraded to a bigger flat-screen television.
-Saw lawyers working until 2 a.m. again.
-Replaced generic dog food with organic brands.
-Bought Starbucks lattes again.
-Rejoined a gym and purchased sessions with a personal trainer.
Monday, March 16, 2009
While E-week is a lot about learning how to become a successful entrepreneur, it is also about learning skills that can help you no matter what your major is. It is a way to gain a more well-rounded knowledge of business, and business can be used in anything and everything you do.
When I think of a big, powerful business person I picture a woman carrying a brief case in a cute suit and Starbucks in her hand. The thing is, not many people think this! They think of a fat old man in a suit sitting in an office and yelling at people, am I right? There are more high powered businessmen right now than women. That is a hard fact and it needs to change!
Forbes did an article on the differences of men and women in a business setting. It was found that neither gender is better than the other in business; they just have different strengths and weaknesses. Both are equally valuable to a company and to the business world. Click here to read the full article.
So women of Utah State University, don’t be intimidated by the fact that this is a week all about business, embrace it. Learn more about how to become the powerful executive or entrepreneur you know you can be. E-week is open to all majors and especially all sexes. Let’s try to get more women there than those silly little boys.
Wednesday, March 4, 2009
We all have a little entrepreneur in us. I know that so many people have a brilliant idea that they have always wanted to make come true or you've always wanted to own your own business. well, this is the perfect place to find out more about that. There is no better place to learn about creating a business or making your brilliant idea come true than to talk to professionals themselves who have done it. That is one of the many things that you will be able to find at e-week. You can pick the brains and listen to professional business owners spill on how to get farther in business. It is such an amazing opportunity are you really going to miss it?
En-tre-pre-neur:
--noun--
1-a person who organizes and manages any enterprise, esp. a business, usually with considerable initiative and risk.
2-an employer of productive labor; contractor.
3-A person who organizes, operates, and assumes the risk for a business venture.
4-One who creates a product on his own account; whoever undertakes on his own account an industrial enterprise in which workmen are employed.
--verb--
1-to deal with or initiate as an entrepreneur.
2-to act as an entrepreneur.
Well, most of us don't really come in contact with this word unless we live in the Business building, however we run into people who do this all the time. Students invest large amounts of money, time and ability for skills. In a way, everyone is an entrepreneur.
In order to make a sustainable life in this dwindling economy, we need to understand those risks, we need innovation, we need to be edgy and most of all, we need to know how to do it all. I am excited that E-Week will facilitate that.
--noun--
1-a person who organizes and manages any enterprise, esp. a business, usually with considerable initiative and risk.
2-an employer of productive labor; contractor.
3-A person who organizes, operates, and assumes the risk for a business venture.
4-One who creates a product on his own account; whoever undertakes on his own account an industrial enterprise in which workmen are employed.
--verb--
1-to deal with or initiate as an entrepreneur.
2-to act as an entrepreneur.
Well, most of us don't really come in contact with this word unless we live in the Business building, however we run into people who do this all the time. Students invest large amounts of money, time and ability for skills. In a way, everyone is an entrepreneur.
In order to make a sustainable life in this dwindling economy, we need to understand those risks, we need innovation, we need to be edgy and most of all, we need to know how to do it all. I am excited that E-Week will facilitate that.
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