Many people are looking for employment or even trying to move up in their current companies. The job market is very competitive, so it is essential to possess the skills necessary to interview well.
Here are some important suggestions for having a more successful interview:
-Prepare for the interview by doing some research on the company and position. Some interviewers may ask the person interviewing what he or she already knows about the company.
-Practicing out loud beforehand can make a person sound more confident. People can role play with a friend and ask each other common interview questions or speak about what would make them a good fit for the position.
-Try to make a good impression by dressing conservatively and professionally. Also, practicing good hygiene is always important.
-Be on time! Unexpected things can occur when traveling to an interview, so always build in extra travel time.
-Avoid any negative comments about a former employer or position, if possible. Employers want to hire positive and enthusiastic employees.
-Be prepared to ask several questions about the company or expectations of the position. This demonstrates to an employer that the person interviewing is fully engaged in the discussion.
-Always follow up an interview with a Thank you note. This shows an employer that the person interviewed is really interested in working at the company and can be a chance for that person to highlight particular reasons why he or she would be a good fit.
For additional information, the U. S. Department of Labor, Employment and Training Administration sponsors CareerOneStop. The site contains many resources for those looking for employment and ways to prepare for interviewing.
Tuesday, October 30, 2012
Thursday, October 25, 2012
Planning for Retirement
Having a plan for retirement is crucial for everyone. People should start thinking about their retirement even as early as their 30s. The sooner individuals start saving, the better off they will be when approaching the age at which they plan to retire. The amount received from Social Security benefits and other possible sources of retirement income will not likely cover all of a retiree's expenses.
The Social Security Administration has a calculator that provides an estimate of a person's retirement benefit by accessing the actual earnings record. The calculator can be found at: http://www.socialsecurity.gov/OACT/anypia/anypia.html.
The first step to begin planning for retirement for individuals is to estimate how much money will be needed to live the lifestyle they would like to during their retirement years. Setting realistic and specific goals will assist in determining a budget and help individuals stay on track. It is important to keep in mind that health care expenses will most likely rise during retirement years, as well.
CNNMoney.com's series Money 101 has a section focusing on retirement and can be a useful resource. They have developed a retirement savings calculator to let people know about how much they will need to save to meet their goals during retirement. The calculator can be found at: http://cgi.money.cnn.com/tools/retirementplanner/retirementplanner_101.jsp.
Investing in a 401(k) is one of the easiest ways to save for retirement. Money contributed to a 401(k) is not taxed because contributions are taken out of a paycheck before the taxes are withheld. Another benefit is that many companies will match some or all of an employee's contributions to a 401(k), so it is free money.
Contributing to either a traditional Individual Retirement Account (IRA) or a Roth IRA can also offer tax breaks. A good resource for more information on investing in retirement accounts is the Internal Revenue Service's website at: http://www.irs.gov/Retirement-Plans?navmenu=menu1.
If they are healthy, some people choose to delay retirement past the age of 62 or continue to work part-time in order to receive a larger benefit from Social Security. According to the AARP, the benefit increases by about 6% a year for every year filing for benefits is delayed. The AARP is a nonprofit and nonpartisan organization with the mission to help those who are over the age of 50.
It is never too late to start planning for retirement. Every little bit of strategizing and saving will help people live fuller and richer lives as they reach their retirement years.
The Social Security Administration has a calculator that provides an estimate of a person's retirement benefit by accessing the actual earnings record. The calculator can be found at: http://www.socialsecurity.gov/OACT/anypia/anypia.html.
The first step to begin planning for retirement for individuals is to estimate how much money will be needed to live the lifestyle they would like to during their retirement years. Setting realistic and specific goals will assist in determining a budget and help individuals stay on track. It is important to keep in mind that health care expenses will most likely rise during retirement years, as well.
CNNMoney.com's series Money 101 has a section focusing on retirement and can be a useful resource. They have developed a retirement savings calculator to let people know about how much they will need to save to meet their goals during retirement. The calculator can be found at: http://cgi.money.cnn.com/tools/retirementplanner/retirementplanner_101.jsp.
Investing in a 401(k) is one of the easiest ways to save for retirement. Money contributed to a 401(k) is not taxed because contributions are taken out of a paycheck before the taxes are withheld. Another benefit is that many companies will match some or all of an employee's contributions to a 401(k), so it is free money.
Contributing to either a traditional Individual Retirement Account (IRA) or a Roth IRA can also offer tax breaks. A good resource for more information on investing in retirement accounts is the Internal Revenue Service's website at: http://www.irs.gov/Retirement-Plans?navmenu=menu1.
If they are healthy, some people choose to delay retirement past the age of 62 or continue to work part-time in order to receive a larger benefit from Social Security. According to the AARP, the benefit increases by about 6% a year for every year filing for benefits is delayed. The AARP is a nonprofit and nonpartisan organization with the mission to help those who are over the age of 50.
It is never too late to start planning for retirement. Every little bit of strategizing and saving will help people live fuller and richer lives as they reach their retirement years.
Thursday, October 18, 2012
Saving for an Emergency Fund
According to Bankrate.com's Financial Security Index, 28% of Americans do not have any money set aside for emergencies. In addition, their survey concluded that only 1 in 5 people have an emergency fund to cover less than three months of expenses. Although, there has been a slight economic recovery, there are still those losing jobs and having emergency situations arise where an emergency fund could have saved a home or kept someone from going into debt by being forced to borrow money.
Most experts suggest having anywhere between three to nine months worth of living expenses saved in the case of an emergency. This can seem overwhelming to someone who happens to have nothing saved, so it may be good to start with a smaller goal and build the fund from there. A goal of saving even $500 can help people realize they have the ability to save even more. If there is very little room in the budget, then saving smaller amounts like $10 a week can eventually make an impact, as well.
The first step in setting up an emergency fund is to open a savings account exclusively for emergencies. Making the payments automatic will ensure success. If the money will come from a paycheck, employees can have their employers set up a direct deposit into this account. That way the temptation is not there to use the money for other things.
The next step to building an emergency fund is tracking expenses for about a month and creating a budget. Most people will find they spend some money unnecessarily and they can reroute those funds into a savings account for emergencies. Cutting back on things like buying coffee at coffee shops or eating out can free up a good amount to save for many people.
Another way to get a jump start on saving for emergencies might be depositing federal and state tax refunds into the savings account. A good portion of Americans receive some kind of refund and this can have an impact on the amount saved.
Also, if someone is granted an increase in pay, the person can continue to live on the former amount of pay and can save the increase in the emergency fund account. Smaller habits like saving loose change in a jar can help, too. Once the jar is filled, the change can be deposited into the account.
Planning for the unexpected can provide much needed financial security for people in this unpredictable economy. A great resource for financial education for all stages of life is MyMoney.gov. The tools featured on this site include budgeting worksheets and checklists for people who want to make informed financial decisions.
Most experts suggest having anywhere between three to nine months worth of living expenses saved in the case of an emergency. This can seem overwhelming to someone who happens to have nothing saved, so it may be good to start with a smaller goal and build the fund from there. A goal of saving even $500 can help people realize they have the ability to save even more. If there is very little room in the budget, then saving smaller amounts like $10 a week can eventually make an impact, as well.
The first step in setting up an emergency fund is to open a savings account exclusively for emergencies. Making the payments automatic will ensure success. If the money will come from a paycheck, employees can have their employers set up a direct deposit into this account. That way the temptation is not there to use the money for other things.
The next step to building an emergency fund is tracking expenses for about a month and creating a budget. Most people will find they spend some money unnecessarily and they can reroute those funds into a savings account for emergencies. Cutting back on things like buying coffee at coffee shops or eating out can free up a good amount to save for many people.
Another way to get a jump start on saving for emergencies might be depositing federal and state tax refunds into the savings account. A good portion of Americans receive some kind of refund and this can have an impact on the amount saved.
Also, if someone is granted an increase in pay, the person can continue to live on the former amount of pay and can save the increase in the emergency fund account. Smaller habits like saving loose change in a jar can help, too. Once the jar is filled, the change can be deposited into the account.
Planning for the unexpected can provide much needed financial security for people in this unpredictable economy. A great resource for financial education for all stages of life is MyMoney.gov. The tools featured on this site include budgeting worksheets and checklists for people who want to make informed financial decisions.
Thursday, October 11, 2012
Types of Personal Bankruptcy
People considering personal bankruptcy as a debt management tool should do so as a last resort. It can be the best option for people who meet the eligibility requirements and can offer them a fresh start if they simply cannot ever satisfy their debts. People who follow the
bankruptcy rules receive a discharge, which is a court order that says they are not required to repay certain debts.
Chapter 7 is known as straight bankruptcy, and involves liquidation of all assets that are not exempt. What property may be exempt is determined by individual state laws and may include automobiles, work-related tools, and basic household furnishings. The property that is not exempt may be sold by a court-appointed official, named a trustee or bankruptcy administrator, or it could be turned over to creditors. There is an 8 year waiting period after receiving a discharge in Chapter 7 before an individual can file it again.
Chapter 13 is filed by individuals who have a secure and steady income and do have the ability to pay off all or a good portion of the debts they owe. The court establishes a repayment plan that normally lasts between 3 and 5 years. A trustee or bankruptcy administrator collects and distributes payments to creditors for the debtor. The court does have the ability to lower payments or interest paid on behalf of a debtor in a Chapter 13 case.
Both types of bankruptcy may eliminate unsecured debts, stop foreclosures, repossessions, garnishments and harassment from debt collectors. In most cases, neither type of personal bankruptcy can discharge child support, alimony, fines, taxes, and student loan obligations.
Visit the United States Courts website for eligibility requirements and basic information regarding both types of personal bankruptcy. Also, an important resource for information regarding bankruptcy is the United States Trustee Program website. The U.S. Trustee Program is a part of the Justice Department that works to ensure the integrity of the U.S. bankruptcy system.
Filers must meet all eligibility requirements to have a bankruptcy discharged, including taking a Pre-Bankruptcy Credit Counseling course and participating in a Post-Filing Debtor Education course from an approved agency. The agencies are approved by the U.S. Trustee Program and can be found at http://www.justice.gov/ust/eo/bapcpa/ccde/.
It is always a good idea to seek legal advice to determine if bankruptcy is the best option. Other possibilities may include negotiating with creditors or contacting a credit counseling agency for assistance in negotiating with a creditor. The National Foundation for Credit Counseling provides information regarding credit counseling agencies and other tools for financial education.
However, bankruptcy information can stay on a credit report for 10
years, and can make it difficult to obtain credit, buy a home, get life
insurance, or sometimes get a job. Individuals considering bankruptcy as an option should seek legal advice from an attorney or the local bankruptcy court to find out if they are eligible to file and to receive a full explanation of the entire process.
The two primary types of personal bankruptcy are Chapter 7 and Chapter 13. Many people are confused about the differences between the two. Chapter 7 is known as straight bankruptcy, and involves liquidation of all assets that are not exempt. What property may be exempt is determined by individual state laws and may include automobiles, work-related tools, and basic household furnishings. The property that is not exempt may be sold by a court-appointed official, named a trustee or bankruptcy administrator, or it could be turned over to creditors. There is an 8 year waiting period after receiving a discharge in Chapter 7 before an individual can file it again.
Chapter 13 is filed by individuals who have a secure and steady income and do have the ability to pay off all or a good portion of the debts they owe. The court establishes a repayment plan that normally lasts between 3 and 5 years. A trustee or bankruptcy administrator collects and distributes payments to creditors for the debtor. The court does have the ability to lower payments or interest paid on behalf of a debtor in a Chapter 13 case.
Both types of bankruptcy may eliminate unsecured debts, stop foreclosures, repossessions, garnishments and harassment from debt collectors. In most cases, neither type of personal bankruptcy can discharge child support, alimony, fines, taxes, and student loan obligations.
Visit the United States Courts website for eligibility requirements and basic information regarding both types of personal bankruptcy. Also, an important resource for information regarding bankruptcy is the United States Trustee Program website. The U.S. Trustee Program is a part of the Justice Department that works to ensure the integrity of the U.S. bankruptcy system.
Filers must meet all eligibility requirements to have a bankruptcy discharged, including taking a Pre-Bankruptcy Credit Counseling course and participating in a Post-Filing Debtor Education course from an approved agency. The agencies are approved by the U.S. Trustee Program and can be found at http://www.justice.gov/ust/eo/bapcpa/ccde/.
It is always a good idea to seek legal advice to determine if bankruptcy is the best option. Other possibilities may include negotiating with creditors or contacting a credit counseling agency for assistance in negotiating with a creditor. The National Foundation for Credit Counseling provides information regarding credit counseling agencies and other tools for financial education.
Thursday, October 4, 2012
Identity Theft
Identity theft or fraud is a crime committed by someone who steals another individual's personal information and uses it without that person's permission. Unfortunately, it can be quite easy for someone to access important personal information and commit such a crime.
Criminals can go through people's garbage looking for documents like bank statements or pre-approved credit card offers with the person's full name and possibly an account number. Thieves also watch closely while someone enters a PIN or a credit card number at an ATM machine or store.
The internet has made it even easier for criminals to access personal information. Many people receive SPAM messages that look as though they are coming from a legitimate source. Some may they click on the links in those emails and provide passwords, bank account information or Social Security numbers unknowingly to a thief. Criminals can find ways to access passwords for websites, as well.
An identity thief can take personal information to apply for loans or credit cards and rack up a large amount of debt without the victim realizing it for quite some time. They could possibly withdraw funds from a bank account or reroute someone's Social Security benefit checks as described in this article, "Scam targets senior's Social Security benefits," posted by CNNMoney.com.
There are ways to reduce the chances of becoming a victim:
Check account balances frequently to make sure there have not been unauthorized withdrawals or charges. If any fraudulent activity is expected, then contact the financial institution IMMEDIATELY.
Always shred any mail that contains even small pieces of personal information before disposing of it.
Never give personal information over the phone especially when someone calls asking for that information out of the blue. They may say they are from the bank or there is an issue with a credit card or account. Ask for information to be sent in writing or call the number of the bank or off the back of the credit card to verify that someone had a legitimate reason to call. Banks who call for valid reasons would not ask for pieces of information like PIN numbers.
Change passwords for websites that contain personal information frequently and never write them down in a place where they can be found.
Never click on links in emails unless the source of the email can be verified. If there is information that needs to be confirmed, go directly to the bank or credit card's website to do so.
Even for legitimate reasons, never give a credit card number or bank account number over the phone where someone else can easily eavesdrop and obtain the information.
According to the Federal Trade Commission's Identity Theft Site, if identity theft is suspected, four very important steps must be taken as soon as possible.
1. Place a fraud alert on and review credit reports.
2. Close any accounts that may have been tampered with or opened fraudulently.
3. File a complaint with the Federal Trade Commission.
4. File a report with your local police or the police in the community where the identity theft took place.
Free copies of identity theft resources from the FTC can be found at: http://www.ftc.gov/bcp/edu/microsites/idtheft2012/
Criminals can go through people's garbage looking for documents like bank statements or pre-approved credit card offers with the person's full name and possibly an account number. Thieves also watch closely while someone enters a PIN or a credit card number at an ATM machine or store.
The internet has made it even easier for criminals to access personal information. Many people receive SPAM messages that look as though they are coming from a legitimate source. Some may they click on the links in those emails and provide passwords, bank account information or Social Security numbers unknowingly to a thief. Criminals can find ways to access passwords for websites, as well.
An identity thief can take personal information to apply for loans or credit cards and rack up a large amount of debt without the victim realizing it for quite some time. They could possibly withdraw funds from a bank account or reroute someone's Social Security benefit checks as described in this article, "Scam targets senior's Social Security benefits," posted by CNNMoney.com.
There are ways to reduce the chances of becoming a victim:
Check account balances frequently to make sure there have not been unauthorized withdrawals or charges. If any fraudulent activity is expected, then contact the financial institution IMMEDIATELY.
Always shred any mail that contains even small pieces of personal information before disposing of it.
Never give personal information over the phone especially when someone calls asking for that information out of the blue. They may say they are from the bank or there is an issue with a credit card or account. Ask for information to be sent in writing or call the number of the bank or off the back of the credit card to verify that someone had a legitimate reason to call. Banks who call for valid reasons would not ask for pieces of information like PIN numbers.
Change passwords for websites that contain personal information frequently and never write them down in a place where they can be found.
Never click on links in emails unless the source of the email can be verified. If there is information that needs to be confirmed, go directly to the bank or credit card's website to do so.
Even for legitimate reasons, never give a credit card number or bank account number over the phone where someone else can easily eavesdrop and obtain the information.
According to the Federal Trade Commission's Identity Theft Site, if identity theft is suspected, four very important steps must be taken as soon as possible.
1. Place a fraud alert on and review credit reports.
2. Close any accounts that may have been tampered with or opened fraudulently.
3. File a complaint with the Federal Trade Commission.
4. File a report with your local police or the police in the community where the identity theft took place.
Free copies of identity theft resources from the FTC can be found at: http://www.ftc.gov/bcp/edu/microsites/idtheft2012/
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