Friday, August 29, 2008

Political conventions used to make history

This week Democrats held their national convention in Denver with Senator Barack Obama accepting on Thursday. He became the first African American in history to be the nominee of a major American party. Today, Senator McCain fired back by offering the possibility of history himself by choosing Governor Sarah Pallin of Alaska to be his Vice Presidential nominee. So whether a Democrat or a Republican wins in November history in America will be made.

Independents and women voters will be critical voters in November and they will be courted heavily by both parties. Now that the party presidential tickets have been chosen it will be interesting to see how this plays out in state races across the country.

Thursday, August 28, 2008

Seven tax-free states to consider

There are seven states that are considered tax-free havens. For aspiring business owners, they may the ideal spots to start or incorporate a business. The states are Wyoming, Nevada, Florida, Texas, Washington, New Hampshire, and Tennessee. These states do not have personal income taxes and some don’t have corporate income tax. So for those aspiring to open a business, you should consider placing these states on your short list.

Wednesday, August 27, 2008

Add strength training to your exercise regimen

In our 20’s and 30’s we start to lose muscle mass. After 40, one-third of a pound of muscle mass is lost each year. By lifting weights, you trim fat and keep muscle. You also increase your metabolism as much as 12 hours after exercising. Strength training also reduces the signs and symptoms of numerous diseases and chronic conditions like arthritis, diabetes, and depression.

As we age we lose bone density, flexibility, and have poor balance. Studies have shown that strength training helps to avoid some of these problems and slow down the aging process. If you are already engaged in a fitness program, add strength training a few times a week. If you have yet to start exercising, get off the couch and hit the weights!

Tuesday, August 26, 2008

Think differently about saving money

Americans are some of the worst savers in general. An article on YahooFinance offers seven counterintuitive ways to save money:

Spend money. You should limit unnecessary purchases but spend money on necessary upkeep and maintenance items that will save money in the long run.

Don’t stay home in front of the television. Instead of staying at home, take the initiative and take classes or attend seminars that will help improve your financial situation.

Don’t spend time learning how to invest. Wait until you’ve built up a nice nest egg and mastered your finances then learn about investing in individual stocks.

Don’t leave your investments to experts. Do your own research. It’s your money, learn how to manage and take responsibility for it.

Don’t let salary determine job choice. You’ll be more productive and eventually better paid if you are happy with what you are doing.

Don’t buy the cheapest things. Buy things of value that will last longer.

Don’t buy things on sale. Buy items on sale if they are items you really need.

Monday, August 25, 2008

Democratic convention kicks off in Denver and Obama announces his VP choice

The Democratic National Convention kicks off today in Denver, CO. Over the weekend we learned that Senator Obama chose Senator Joe Biden (D-DE) as his Vice Presidential running mate. Senator Biden has been a US senator for over 35 years.

The choice of Senator Biden is to fill in gaps in Obama’s resume and be a critic of senator McCain, who he has known for over 30 years. This week is critical for senator Obama. He has to show the people that he is ready to lead. He also needs critics within his own party to get on board with their support and negate statements they have said in the past. His current running mate is one of them and Senator Hilary Clinton is the other major critic. Their comments about senator Obama’s lack of experience and McCain being a better choice may hurt Obama in the end because he may not be able to shake the implications. Of course, with their attack ads that are using the words of other democrats against Obama, the republicans are counting on this to give McCain the White House in November. I guess a gentleman’s campaign is no longer a possibility. Duck, because a lot of mud will be slung.

Friday, August 22, 2008

Thank goodness Football is back!

That’s right I said it. I’m a woman who loves the NFL. To be more specific I am woman who grew up in Redskins territory but loves the Pittsburgh Steelers. Yes, everybody get your terrible towels out! I am so excited. The Olympics was anticlimactic for me. My favorite sports to watch are swimming, diving, and track and field. We did ok but our track and field athletes did not live up to the dominance we are capable of in the sport. So I turn my attention to football.

I’m not even asking for much from my Steelers this year. I’m not hoping for a SuperBowl ring but ya’ll better be in the playoffs fighting for the chance. For beginners or those that want to at least know what they are looking at when they watch a game go to NFL.com and read the rulebook. Knowing the basics will make the game more enjoyable. And if you can, do some tailgating. Football is supposed to be fun so enjoy. The official season starts September 4 as the Washington redskins take on last year’s SuperBowl champions, the New York Giants. Are you ready for some football!!!

Thursday, August 21, 2008

Make sure your business can survive the recession

As small business owners and self-employed people a recession can be a cause for panic or some sleepless nights. There are ways to minimize the effects of a recession and give you back your peace of mind. Once you survive one recession you’ll be prepared for anything that comes your way.

Your first step should be finding ways to cut costs and streamline your business. Focus on those products or services that are continuing to make money and suspend or get rid of those that are not. Another thing you can do is to get rid of any excess inventory. A third thing you should do is to maintain your prices. If you slice prices to free up cash flow you may cut into your profit margins. You should also not be so quick to offer discounts. Reserve discounts for current customers as a way to maintain loyalty. Another way to maintain loyalty is to focus on service and invest in any employees or subcontractors you have. Your current customers and your employees or subcontractors will be the key to helping you weather the recession. To free up cash flow contact your suppliers to see if you can have payments extended and if people owe you money, it’s time to collect. Renegotiate any contracts coming up for renewal at lower prices and look for ways to expand your business. These few tips may make the difference in how well you get through the recession.

Wednesday, August 20, 2008

FDA says chemical is not harmful

The FDA has announced that bisphenol A (BPA), a hormone disrupting chemical found in many consumer products like can linings and baby bottles, is safe. Laboratory studies of BPA have consistently been linked to obesity, developmental problems, heart attacks, and breast and prostate cancer. Scientists, physicians, and children’s health advocates are outraged. Congressman Edward J. Markey (D-MA) has introduced legislation to ban BPA in all food and beverage containers.

Since the government is not doing its part in keeping people safe, I urge people to take it upon themselves to be diligent in this issue. This chemical is very harmful and while I don’t begrudge anyone from making a buck, the companies that make this chemical and those that use this chemical in their goods are being irresponsible. The health of the public should be more important.

Tuesday, August 19, 2008

Bad grocery shopping habits may be costing you money

We are all more conscious of how much money we are spending at the grocery stores these days. But even with coupons and a shopping list, we still may be spending more money than we bargained for. Here are ten habits, according to an article at Myrecipes.com, which may be costing you money at the checkout line.

Stocking up on a great deal: The purchase is only a great deal if the food gets eaten. Don’t overbuy even if the price is right.

Reaching for the “value size”: Be sure to check the unit price so you can calculate how much an item costs per ounce or per pound.

Buying 10 for $10: Unless there is a specified minimum purchase you can usually buy the amount you need while still taking advantage of the discounted price.

Skipping the store brand: Store brands offer good savings all year round and are not as inferior as people think.

Shopping leisurely: Studies have shown and supermarkets know that the more time you spend in a grocery store the more money you spend

Clipping coupons religiously: Coupons can save you money but not if you pick up an item that’s not a bargain or is an expensive brand you don’t normally buy.

Zoning in on “sale” signs: Just because it looks like a sale doesn’t mean it’s on sale. You should track items you buy regularly so you can evaluate a good deal when you see one.

Making a list: People make lists to help them remember what they need and to avoid impulse shopping but they tend to spend over 41% more that those who shop list free. If you use a list, make the list round menus but keep the store circular ready to take advantage of specials.

Swiping you card too early: Watch the scanner and make sure you are being charged the right price. Not all sales prices are updated in the registers so be vigilant.

Monday, August 18, 2008

Presidential candidates speak with evangelicals over the weekend

In a faith forum hosted by evangelical pastor Rick Warren, founder and senior pastor of the mega church the Saddleback Church in Lake Forest, California and author of The Purpose Driven Life, Sens. Obama and McCain did an hour long interview each. This was their opportunity to share their views about issues important to “values” voters. While both men defined marriage as a union between a man and a woman, Obama is pro-choice and believes in civil unions for gay couples. Senator McCain is pro-life and says he would leave it up to states to decide about civil unions.

In other news…
On Saturday, Michael Phelps became the first man in Olympic history to win eight gold medals at a single Olympics. He takes over the title from Mark Spitz who held the title with seven gold medals for over thirty years.

In the men’s 100 meters, Jamaican Usain Bolt smashed the world record and won gold in 9.69 seconds. In the 110m hurdles China’s hopes were dashed when an injury took reigning gold medalist Xiu Liang out of contention after the first round.

Friday, August 15, 2008

Does a 4-day work week really work?

Many companies in the US and Canada have or are considering implementing a four day work week. The reason is to save on energy costs and be environmentally friendly by reducing the greenhouse gases given off by commuters in cars. The benefit to workers is more time to relax and spend time with their families or enjoying their lives outside the office. The challenge is to implement the shorter work week without shortening the pay. Most employers just have workers working longer hours.

Some employers are worried about worker productivity dropping with a shorter work week but studies are finding that workers are much in favor of the shortened week. However, workers like the idea of a voluntarily versus mandatory four day work week. They seem to like the four day work week to be one of many options offered in a company’s flexible work plans. Flexible work plans go a long way to show a company’s support of an employee right to work/life balance.

Thursday, August 14, 2008

Some companies factor in obesity rates

Many companies are doing what they can to cut their healthcare costs. They are banning smoking, providing wellness classes and passes to gyms, and even placing healthy snacks in vending machines. There is now evidence that companies are examining obesity rates as a factor into whether or not to open a site in a certain city. They are doing this to cut future healthcare costs. Targeting healthier cities means healthier employees and lower insurance costs and absentee rates.

In other news…
Small companies and business owners should be aware a growing problem. More and more small companies are allowing employees to use personal smart phones for work. This is leaving their business vulnerable to hackers that are targeting mobile phones.

By using spyware, hackers monitor what people type and what messages they receive to find out any company secrets. Smaller companies lack the IT staff and security software needed for individual phones. To help, security companies are working to develop encryption software for mobile phones.

Wednesday, August 13, 2008

The flu season is approaching…Are you at risk?

School is soon starting for children and adults around the country. Also fast approaching is the flu season which starts in October, ends in March, and peaks around February. The flu season has been known in some years to last past March. The CDC has a great guide that tells what everyone should know about the flu. To be on the safe side, if you are in an at risk category, visit your doctor in September to get you vaccination.

In other health news…
Losing weight seems like an ongoing battle that we seem to continue losing. An article on Health.com says a solution may be to try a spa that specializes in weight loss. It has a nice list of four spas that may help you lose weight and keep it off.

A recent issue of the Journal of the American Medical Association (JAMA) is reporting that soldiers returning from combat deployment have a high incidence of alcohol abuse. It is most apparent in young soldiers and Reserve and National guardsman than in any other military branch. Soldiers are turning to alcohol as a way to cope with re-entry into their back home in the U.S. Hopefully the findings in this studies in this issue of JAMA will help the military develop programs to help soldiers get the help they need.

Tuesday, August 12, 2008

Student loans not as plentiful for 2008-2009 school year

Many lenders are dropping out of the student loan market or tightening their standards every week it seems. Financial aid offices are worried. A law passed in May makes federal loans more accessible but private loans are harder to get. Many students and families are turning to the government for help. The Higher Education Opportunity Act which offers more transparency in the student loan process is awaiting the President’s signature.

In other news…
People that purchased pre-construction homes are losing their money and not gaining a new home. Around the country many new home projects are delayed or being scrapped all together and homeowners are unable to get their money out of these projects.

The pros to buying pre-construction is that you can buy at a lower rate, get first choice of unit and the ability to customize, will experience an appreciation in the time it takes to complete the project, and you can build credit during construction to get a better loan. The downside is that your deposit is tied up for years without interest and you may lose your deposit if the project falls through. Here are a few tips to help you avoid losing your money in buying preconstruction.

Be aware of how your financial situation will change between the contract and closing because you can’t apply for a loan until the project is finished.

Expect the project to be delayed.

To determine whether your preconstruction is a smart buy or not consider the competition being built in the future nearby.

Hire an attorney to make sure your contract is fair and your deposit is secure.

Research the developer and his projects in your city and in others.

There are pros and cons to many investment deals. The key is to be informed to minimize the risk and increase your return on investment

Monday, August 11, 2008

Is Russia trying to rebuild the Soviet Union?

Russia has invaded the country of Georgia. The leadership of Georgia believes the reason for the invasion is Russia’s attempt at a regime change in Georgia. They believe Russia wants to oust the Pro-western democracy that currently governs the country. Georgia is an ally of the United States. President Bush is calling on a cease-fire from Russia however other than asking for the attacks to stop, the United States has limited influence in the region.

In other news…
John Edwards, former presidential hopeful and North Carolina senator, admits to having an affair two years ago but claims that the child of his mistress is not his. The media, of course, is running with the story and wondering about the effect it will have on Senator Obama’s campaign. Other than the media dragging the story out and making more of it than it really is, I doubt it will have much effect on the senator’s campaign. As far as Mr. Edwards, he’s run for President in the Democratic primaries more than once and has yet to be named the nominee. I think his career in public service may be over but as a private citizen I hope he continues to fight poverty.

The Democrats spent the weekend creating a party platform that will be shared at the upcoming Democratic National Convention in Denver. While it tackles many issues, it commits the party to guaranteed healthcare for all citizens in a move to appease Clinton supporters and unify the party. It is also being reported that Senator Obama will text and email his Vice President running mate to his supporters so that they will be the first to know.

Friday, August 8, 2008

Stay-at-home wives is a growing constituency

Many women leave their jobs and careers to become stay-at-home moms. But there is a growing segment of women who leave their careers to focus on homemaking and having a better relationship with their husbands. These women do not have children. Some say these women are a status symbol that tells the world that this couple has enough money coming into the household that both people are not needed to work. But stay-at-home wives say it’s not about being a status symbol but making a lifestyle choice. They say they are less stressed and more able to focus on home and other desires like volunteer work and creative outlets. If a woman has a choice and chooses to stay home, why shouldn’t she? There are a lot of working women who would love to have this option available even if they never make the choice to stay home. I know I would.

Thursday, August 7, 2008

How to evaluate your 401(k)

Whether you are self-employed or work for an employer, saving money for retirement through a 401(k) is a smart idea. It’s a great idea especially if there is a company match. However, some 401(k) plans are better than others and the differences can add up to thousands of dollars in retirement savings. Here are some tips for evaluating your 401(k) plan.

Check out the funds offered in your plan
Find the ticker symbols and do an online search. If the funds are not available to the public it is likely your plan invests through an annuity. Annuities are more expensive than most mutual funds or exchange-traded funds (ETFs).

Are the funds in good share classes?
Mutual funds offer different share classes with different fee structures. B and C shares are more expensive. You may be better off with load-waived A shares or with institutional shares. The type of share should be apparent in the name of the fund.

Make sure you have the option of low-cost fund choices
ETFs are index funds which are the least expensive funds. If you want higher returns you can pick actively managed funds but higher returns are not guaranteed, making index funds a good choice for most people.

Top-performing funds are key
Retirement investing is for the long-term so make sure you have a selection of funds that have been around ten years or more and that they have ranked among the top half of funds in their categories.

Get professional advice
401(k) decisions are not easy. If you work for a company, find out if they use financial planners. If you are self-employed, sit down with a financial planner to talk over your concerns and to get guidance. Many banks and credit unions offer financial planning. You can also check with the Financial Planning Association [www.fpanet.org].

Talk to the plan’s trustee
If you follow the above tips and feel like your plan could be better, talk with your 401(k) plan’s trustee. Under federal law, the trustee has to offer participants the best possible plan at a reasonable cost.

Wednesday, August 6, 2008

Healthy weight loss can happen with a trip to the local farmer’s market

Just-picked fruits and vegetables smell and taste great. When you add farm fresh eggs and dairy, lean meats, seafood, and whole-grain breads, you can have meals you want to slow down and savor. This helps you fill up quicker on fewer calories. A recent study showed that people who increased intake of water-rich fruits and vegetables while lowering their fat intake lost one-third more weight over six months and were less hungry. If you combine protein, good fats 9like those found in fish), and fiber, you’ll feel satisfied and your blood sugar level will remain stable. Fiber makes you feel full longer. To find a farmer’s market near you, check out Resources for Farmers’ Markets.

Tuesday, August 5, 2008

Protect yourself – medical identity theft on the rise

Medical identity theft is an uncommon but growing threat to people with health insurance. It’s a threat that could cost you your life. Medical identity theft occurs when someone steals your insurance card or other identifying information and obtains medical services in your name. This could lead to the perpetrator’s medical history getting mixed up with your own.

Some warning signs to look for are denial of coverage, unusual claims, and unexpected bills. If you are denied coverage because you’ve exhausted your funds for the year but made only a few visits to the doctor, contact your insurer. Insurers send out information about claims processed on your behalf. If you receive Explanation of Benefits statements but have not received treatment lately, contact your insurer. If you get bills or calls about procedures you’ve never received, contact your provider’s billing department immediately.

It’s hard to prevent medical identity theft because the perpetrators usually work in medical facilities with access to patient records. However, you can reduce your risk. Keep your insurance card number confidential. Don’t read your number in public and report a lost or stolen card immediately. Obtain a list of claims filed in your name each year and read any Explanation of Benefits statements carefully to make sure you received the services described. Get a copy of your records from each health provider you use to make sure there are no inaccuracies.

If you think you are a victim of medical identity theft file a claim with the Federal trade Commission (FTC) and a police report. These will help you dispute claims with insurers. Also, alert medical facilities where you think your identity was compromised, even if you haven’t been there, so they know too.

Monday, August 4, 2008

Tackling immigration

The Bush administration has been cracking down on illegal immigrants. So much so that the immigration courts and deportation centers are overcrowded. To relieve some of the pressure the Department of Homeland Security has created Operation Scheduled Departure. The program is in response to Congress’ failure to deal with immigration. The program gives illegal immigrants that have ignored their final deportation notice a chance to voluntarily turn themselves over to authorities. I return they will be given 90 days to get their affairs in order before being returned to their country of origin. The new program is being piloted in Phoenix; Santa Ana, CA, San Diego, Chicago, and Charlotte from August 5 – 22. Depending on the response the program may be expanded to other cities.

In other news…
The Bush administration is trying to expand the definition of abortion to include birth control pills and intrauterine devices (IUDs). It is being said that the rationale is to support those health workers that don’t want to offer birth control bills or IUD’s for moral reasons. If this gets traction expect a heated debate on this issue.

Wal-Mart is mobilizing staff and telling them that if Democrats win the White House in November, they will likely change federal law to make it easier to unionize companies. Three reasons to oppose unionization are that employees will have to pay hefty dues while getting nothing in return, employees may have to go on strike without compensation, and unionization could mean fewer jobs as labor costs rise. By holding meetings with staff Wal-Mart is indirectly telling their staff how to vote in November.

This legislation, co-sponsored by Senator Obama who says if elected he will sign the bill into law, is called the Employee Free Choice Act (also know as card check). The US Chamber of congress has made defeating this bill a top priority while the AFL-CIO has made passing the bill a top priority. The legislation allows unions to form if 50 percent of employees sign a card saying they want to join a union.

The Higher Education Act looks like it is getting closer to being renewed. It is expected to pass the Senate and be signed by the President. The bill offers greater transparency of college costs. The Department of Education would list the most expensive colleges on their web site as well as the colleges that raised their tuition the most. The law puts pressure on states to maintain their level of higher education spending or face losing certain federal funds. It also expands access to Pell grants, going form two semesters to year round. The legislation also includes consumer protection on everything from textbook sales to private student loans. The Higher Education Act hasn’t been renewed since 2003.

Friday, August 1, 2008

China doing all she can to change image for the Olympics

China wants the world to love her. That means she does not want detractors to have their say while she is hosting the biggest sporting event in the world. The Chinese government will block many web sites during the Olympics. There is a continuous crackdown on human rights activists, with many being jailed without a trial. There is also a huge push to clean up the air pollution. Factories have been temporarily shut down, cars on the roads have been limited, and workers are temporarily able to work from home. All of this is an effort by the Chinese government to show China as a country of harmony and stability. But does the government think we are buying what they’re selling?

A few weeks of clean air and blocking web sites is not going to disguise China’s flaws. You have poor air quality and horrible labor practices. Your treatment of Tibet is atrocious and you have more people languishing in your jails for bogus charges. While we will watch the Olympics and cheer for our athletes don’t let our applause fool you. You have a long way to go China in changing your world image.