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FinanceJargon.Com
Finance Jargon is a guide to finance
and investment. It aims at providing you valuable tips and advice with
regards to your investment and the field of finance in general. All financial
jargon and terms will be broken down to make money matters easy to understand.
The idea is to help students and proponents of finance to come together.Here you
will find interesting articles on various topics related to finance,
insurance and loans and stock markets and other topics of money making
like mutual funds, managing personal finance and more. Various authors
contribute to Finance Jargon through
Whypark's system.
If you have something interesting to share about the world of finance, why don't
you mail us and we'll include your articles on financejargon.com, with a link
back to your web site or blog.
.4 Successful Parenting Tips I Learned
From My Harvard Mba Husband
My husband is an insightful businessman
with the unique ability to create something out of nothing, envision the future,
work efficiently and strategically, and quickly get to the bottom line. In his
books and seminars he teaches useful business strategies to high level
executives so that they can grow their businesses successfully. His clients rave
about the results they achieve when they implement his lessons.
Eager to have the same successful
results parenting that my husband?s clients have with their businesses, I have
incorporated four of his business practices into my parenting technique.
Think Strategically
When one thinks strategically he or she
devises a careful plan of action to carry out and achieve a goal. Strategic
thinking is a helpful tool for today?s busy parents who are pulled in many
different directions and pressed for time. Set a goal and devise a smart plan to
achieve the goal. Strategic thinking can be used in conjunction with meal
planning, grocery shopping, leaving the house in the morning, etc.
For example, getting the kids to bed at
the same time every evening is a great goal that can often go awry for many
households. Creating a step by step plan, in this case a bedtime ritual, is an
excellent means towards achieving the goal of consistent bedtimes. As children
become more and more familiar with the bedtime ritual their internal clocks get
set and falling asleep gets easier and easier.
Strategic thinking makes parenting
easier because the whole family knows and adheres to a good plan and with a
minimum of stress, achieves their goals.
Time Management
Good time management asks two questions:
Is the activity of value? If the activity is of value, what is the best way to
do it efficiently? Parents who find that the day is overwhelming, should ask
themselves whether the majority of their time is being spent doing important
activities efficiently.
There are four questions that should be
asked when determining the efficiency of their activities: Should the activity
be done at all? Does the activity need to be done now? Can someone else do it?
Does the activity have to be done perfectly or is good enough, good enough?
A simple example is setting the table
for the evening meal. The answer for most families is, ?Yes, this is an
important activity.? Does mom or dad have to step away from the stove to set the
table now? ?No, a child would feel proud to do it now.? Does it have to be
approved by the Queen of England? ?No, good enough will do and I am proud my
child completed the table, not guilty that it isn?t perfect.?
Create Possibility and Move Things
Forward
Creating possibility opens the future to
bright and wonderful situations and creates opportunity. Moving things forward
happens when the person acts on the possibility created.
Parents should be coming from the
possibility of love for children when there is opportunity to express it. For
example, when a parent is faced with a challenging discipline situation, he can
scream and lose his marbles or he can come up with ideas or possibilities to
express his love while still managing the children?s behavior.
?Maybe my kids are out of control
because we have been in the car all morning, if I take them to the shore and let
them run on the beach for an hour I bet we would all calm down.? Moving things
forward is then simply Dad driving to the beach and having a wonderful time
rough housing with the kids for an hour.
Another way of thinking about this is
Stephen Covey?s concept of choice. As he says in The Seven Habits of Highly
Successful People:
?BETWEEN STIMULUS AND RESPONSE IS OUR
FREEDOM TO CHOOSE. We have self-awareness, imagination, conscience and
independent will. Responsibility is the ability to choose your response. Highly
proactive people recognize that responsibility. They do not blame circumstances,
conditions, or conditioning for their behavior. Their behavior is a product of
their own conscious choice, based on values, rather than a product of their
conditions, based on feeling.?
Manage Risk
With every activity in life there is the
chance that something could go wrong. Putting a baby in the tub and feeding
whole grapes to toddlers are high risk parenting activities. Moving the baby
from the crib to a bed with a rail is medium risk and coloring at the counter
with washable markers is low risk but risky all the same.
Thinking ahead will help parents manage
risk and will minimize the likelihood that something might go wrong. Parents
need to get in the habit of asking themselves, ?If I let my kids do this, what
is the most likely outcome.?
Parents should measure the probability
of something (good or bad) happening multiplied by the negative impact if it
does happen. They should then ask, ?What is the cost of eliminating the risk??
For example: Electrical outlets are
dangerous if a child sticks a fork in one, so parents are willing to go to the
baby store and buy outlet protectors. A child might possibly be able to remove
an outlet cover, but is that slight risk worth the parent hiring an electrician
to come in and move all of the electrical outlets up to the ceiling?
Parents who overestimate the probability
that something will happen, compulsively worry and hover. People who
underestimate risk don?t provide a safe environment for kids. Good parents are
able to correctly estimate risk so that they protect their children when the
risk is too high and loosen up the reigns when the risk is low.
Applying these business management
practices to the everyday challenges of parenting will help give parents tools
to parent more efficiently and with less stress. Parenting thoughtfully and
creatively will model effective adult behavior to children and create a calm and
peaceful home.
Elena Neitlich is the co-owner and CEO
of Moms on Edge, LLC.
Finance guide for
novices and professionals Her company designs,
manufactures and sells creative and effective children's behavioral toys, games
and parenting aids. Moms on Edge also produces a line of handmade luxury bath
and beauty products design
MBA Degree: Waste of Money for Would-Be
Entrepreneurs?
Glenview, IL (PRWEB) January 22, 2008 --
A recent survey of small business owners conducted by SurePayroll, the nation's
leading online payroll service (http://www.surepayroll.com),
found that most entrepreneurs don't believe an MBA is essential to
entrepreneurial success.
70 percent of the small business owners
who participated in the survey indicated that an MBA degree isn't a big factor
in determining entrepreneurial success.
SurePayroll President Michael Alter says
that the survey results are not surprising.
"That's the beauty of entrepreneurship,"
says Alter. "Anybody can go into business regardless of their education. A
person's level of education is isn't a big determinant of success. The things
that matter are having a good business plan, finding a niche, being passionate
about what you do, and working hard and smart to achieve your business goals."
The entrepreneurs who were surveyed
clearly agree that formal education is not an essential ingredient for
entrepreneurial success. Only 44 percent said that formal education is very
important in preparing entrepreneurs for success. 51 percent said that education
is only somewhat important and 5 percent said that education is not important.
In a ranking of entrepreneurial success factors, formal education came in last.
The respondents indicated that having an
undergraduate degree is much more important than having an MBA. 57 percent of
respondents agreed that people who get a college degree will have more success
as entrepreneurs than people who do not.
While the MBA degree did not get much
love from survey respondents, the wrath was especially strong for Ivy League MBA
degrees. 91 percent of the surveyed entrepreneurs said that those who get an MBA
from an Ivy League school have no advantage over entrepreneurs who get an MBA
from another school.
Drivers of Entrepreneurial Success
So if formal education isn't a big
contributor to entrepreneurial success, what is?
Drive and ambition appears to be the
biggest factor, according to the surveyed entrepreneurs. Survey respondents
ranked entrepreneurial success factors in the following way:
1. Person's drive and ambition 27.2%
2. Person's passion for a specific
business venture 14.9%
3. Hands-on experience in the industry 13.5%
4. Easy access to capital to start a
business 13.1%
5. Personal connections 11.5%
6. Family members who are entrepreneurs 10.0%
7. Formal education 9.9%
Educational Advice from Entrepreneurs:
When asked what educational advice they
would give to a high school student who is an aspiring to be an entrepreneur,
a large percentage answered that they would benefit from classes that help
them learn how to think logically and solve problems, such as math and
engineering. Additionally, many entrepreneurs said they recommend reading
self-help books, studying successful business leaders and getting experience
in the field they'd like to enter.
About SurePayroll:
SurePayroll is America's largest full-service
online payroll service. In addition to its payroll and ClickFREE? tax file
and pay service - which allows a user to complete the entire payroll process
in minutes - SurePayroll provides HR and compliance resources, workers'
compensation products and 401(k) retirement solutions designed specifically
for small businesses.
SurePayroll also offers a private-label
and co-branded payroll service (http://www.surepayroll.com)
to accounting and banking partners to offer payroll processing to their
small business clients.
SurePayroll is passionate about small
businesses and their payroll. The company is dedicated to providing an
extremely friendly and simple payroll experience - at a price small business
owners can afford. For more information, visit
The MBA Essay: How to Stand Out From The
Crowd?
If you?re applying to graduate school,
you?ll quickly find out that MBA applications will include a question that
asks about your reasons for wanting to obtain an MBA. Some application
questions will ask you to tie these reasons into your background and your
professional goals. Even for schools that don't offer this specific
direction, you should plan on such a discussion of past and future, as it
provides essential context.
"Why MBA?" is often the first question
asked and without a doubt the most important essay you will write. It
includes essential information about whether you're qualified, whether you're
prepared, and where you're headed. The other essays fill in details about
these fundamental points, but a strong answer about, for example, how you
overcame a failure will not revive a candidacy that failed based on a lack
of career focus.
Every answer should contain the
following elements, unless the application has separate questions addressing
them individually: 1. Your long- and short-term goals. 2. Your relevant past
experience. 3. An assessment of your strengths and the gaps in your
experience/education. 4. How an MBA program will bridge your past and future
and fill in those gaps. 5. Why this particular MBA program is a good match
for your needs.
Occasionally there will be overlap with
other answers, and you will have to use your judgment on the extent to which
you should reiterate important ideas. For example, some schools will ask
about your goals in separate questions. In that case, the bulk of your
discussion should fall under the goals question, but you will have to bring
over key points from that answer to establish context for your reasons for
obtaining an MBA. There are no groundbreaking reasons for pursuing an MBA.
This is not a place to aim for bold originality. Rather, you should focus on
articulating detailed reasons that are specific to your situation. Moreover,
there is plenty of room to distinguish your self when discussing past
experience and future goals; it's just the reasons themselves that come from
a more limited set. That said, you should not try to drop buzzwords for
their own sake. Make sure you tie your specific objectives to other aspects
of your application.
A successful applicant would provide a
unique background and a focused interest in becoming an entrepreneur within
a particular field. He paints a clear picture of past and future before
making the following transition: "In order to accomplish this goal, however,
I must deepen my knowledge of the field. Despite my experience, I still lack
some important knowledge and management skills, especially in finance,
marketing, and entrepreneurship. Since dealing with aspects of international
business will be an integral part of my job as an entrepreneur, it is
essential that I fill in these gaps." Only after an applicant establishes
sufficient context about his personal situation should he attempt to assert
his reasons for pursuing an MBA. This approach ensures that you're not
simply stating the obvious, generic reasons without personal insight.
In another example, an applicant may
begin with an extensive discussion of a specific industry or business
climate before going on to describe the background that makes him qualified
to pursue his vision. In contrast to the previous applicant, he discusses
goals prior to history. Either approach can work effectively; your best bet
would be to start with and highlight what makes you unique, whether it's a
vision you have or a past accomplishment. After that, the important thing is
to ensure that everything is coherently focused.
Each approach mentioned here sets your
MBA essay apart from other applicants and provides meaningful context to any
admissions committee. When seeking prospective student, admission counsels
seek those on the path to a meaningful education that can be applied to the
real world.
Scottrade Launches New Mutual Funds
Center with Easy to Use Research Tools
St. Louis, MO (PRWEB) December 12, 2007
-- Scottrade, a leading branch-supported online investment firm (www.scottrade.com),
is making it easier to research and select mutual funds with the roll out of
a new Mutual Funds Center. The new Mutual Funds Center will be available to
Scottrade customers after the market close on Thursday, Dec. 13.
Features of Scottrade?s new Mutual Funds
Center include:
- An easy-to-use mutual funds
screener that can search funds by availability and other criteria, such as
whether a fund is on Scottrade?s no transaction fee platform.
- Detailed Lipper Leader® ratings for
all mutual funds to help investors select funds that meet their individual
investment styles and goals.
- Detailed expense information.
- Real-time customizable charts, with
Scottrade SmartText?, which describes each chart in plain English.
- A new comparison tool that easily
compares up to five mutual funds at a time.
?Scottrade?s new Mutual Funds Center is
designed to be more user-friendly so our customers can easily identify and
select mutual funds that fit their unique criteria,? said Kevin Dodson,
Scottrade Director of Product Development. ?The new Mutual Funds Center is
one of several enhancements we are rolling out to help investors quickly and
easily find investment opportunities to help them reach their financial
goals.?
The launch of the new Mutual Funds
Center for Scottrade customers coincides with the launch of a new Stock
Market Info & Research section available to all investors on
www.scottrade.com
that includes a stock screener, news and commentary and stock quotes.
Scottrade currently offers more than
10,000 mutual funds, including over 1,100 no transaction fee mutual funds.
For more information about Scottrade?s Mutual Funds Center, visit
http://www.scottrade.com/MediaContent/WebCast.asp
About Scottrade
Scottrade is a leader in online
investing, serving individual investors who are comfortable making their own
investment decisions. Scottrade is unique in the industry because it boasts
low commission rates while offering the largest branch network among online
brokerages, with 328 local branch offices nationwide. In October, Scottrade
was named Highest in Investor Satisfaction by J.D. Power and Associates for
the seventh time. Scottrade.com is the online trading site of Scottrade, Inc.
and offers customers the convenience of placing many orders online for just
$7 per trade. In addition to its online capabilities, Scottrade staffs each
easily accessible branch location with a branch manager plus additional
brokers and assistants. For more, visit
www.scottrade.com.
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Home Equity
Loan vs Refinancing
Home equity loan and
refinancing are two excellent ways that can help you manage your finances.
However, it may prove difficult to choose one from the other and should
depend on what your financial goals are. You can opt for the lower payment
schemes of cash-out refinancing, or you can choose the great tax benefits
offered by a home equity loan. The choice, however, does not prove to be
as simple as this. Here is a comparison of these two types of loans to
help you see which one is right for you.
Cash-out refinance simply
means that you are refinancing your existing mortgage in order to lower
your monthly payment and/or your current interest rate, and get some
additional cash for other pressing reasons such as for home improvement,
renovation, and the likes. If you are lucky to choose the right timing,
you may be able to get all these with cash-out refinancing. Say, your home
is valued at $300,000 and your existing mortgage balance is $200,000, your
home equity remains at $100,000. You are free to borrow the remaining
equity as you deem necessary.
Home equity loans are
usually provided in two kinds: the home equity line of credit and the home
equity installment loan. A home equity line of credit line means that you
are borrowing against the value of your home; your home is your collateral
to the credit. Home equity plans are usually set at a fixed time; say 10
years but with variable loan rates. Your interest rate and the annual
percentage rate of your mortgage can move up and down depending on the
market trends. During the specified time, you are free to obtain the cash
when you need it, and pay only for what you happen to spend. Some
mortgages are offered with payment of full outstanding balance, while
others allow repayment over a fixed time.
On the other hand, an
installment loan is a loan that has a fixed rate that stays the same all
throughout the rest of your home equity loan terms. Also called the closed
end home equity loan, you amortize your loan for periods lasting up to
about 15 years. In this kind of loan, you usually receive a lump sum at
closing depending on your home value, and you can not borrow further
afterwards.
Which is better?
Remember that interest
rates do not usually behave normally, much as you want them to. When this
happens, home equity loans may actually prove cheaper than refinancing,
although they are potentially riskier. Choosing what is better between the
two should depend on individual circumstances. For example, if you plan to
pay off your mortgage and do not need as much money, you can go for a home
equity loan to get lower rates and shorter terms. On the other side of the
fence, with cash-out refinancing, you can get all your money up front and
simply pay off interest and principal on a lowered monthly basis as agreed
upon, with no frills. Weigh carefully based on what your financial
objectives are and choose one which you think will give you a fairer deal. |
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©2008 I.T.M. FINANCE |
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